Technical Report and Initial Mineral Resource Estimate For The Nelligan Project Canada

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NI 43-101 Technical Report and Initial Mineral Resource

Estimate for the Nelligan Project, Québec, Canada
Prepared for
IAMGOLD Corporation
401 Bay Street, Suite 3200
Toronto, Ontario
Canada M5H 2Y4
Vanstar Mining Resources Inc.

824 Taschereau Blvd.
La Prairie, Québec
Canada J5R 1V9
Project Location
Latitude: 49°23' North; Longitude: 74°40' West
Province of Québec, Canada
Prepared by:
Alain Carrier, M.Sc., P.Geo.
Vincent Nadeau-Benoit, P.Geo.
Stéphane Faure, PhD, P.Geo.
InnovExplo Inc.
Effective Date: October 22, 2019

Signature Date: December 4, 2019
SIGNATURE PAGE – INNOVEXPLO
NI 43-101 Technical Report and Initial Mineral Resource

Estimate for the Nelligan Project, Québec, Canada
Prepared for
IAMGOLD Corporation
401 Bay Street, Suite 3200
Toronto, Ontario
Canada M5H 2Y4
Vanstar Mining Resources Inc.

824 Taschereau Blvd.
La Prairie, Québec
Canada J5R 1V9
Project Location
Latitude: 49°23' North; Longitude: 74°40' West
Province of Québec, Canada
(Original signed and sealed) Signed at Val-d’Or on December 4th, 2019

Alain Carrier, M.Sc., P.Geo.
InnovExplo Inc.
Val-d’Or (Québec)
(Original signed and sealed) Signed at Val-d’Or on December 4th, 2019
Vincent Nadeau-Benoit, P.Geo.

InnovExplo Inc.
Val-d’Or (Québec)
(Original signed and sealed) Signed at Longueuil on December 4th, 2019
Stéphane Faure, PhD, P.Geo.

InnovExplo Inc.
Longueuil (Québec)
NI 43-101 Technical Report and Initial Mineral Resource Estimate - Nelligan Project - December 2019 ii
CERTIFICATE OF AUTHOR – ALAIN CARRIER
I, Alain Carrier, M.Sc., P.Geo. (OGQ No. 281, PGO No. 1719, NAPEG No. L2701), do hereby
certify that:
1. I am a professional geoscientist, employed as Co-President Founder of InnovExplo Inc., located at
560, 3e Avenue, Val-d’Or, Québec, Canada, J9P 1S4.
2. This certificate applies to the technical report entitled “NI 43-101 Technical Report and Initial
Mineral Resource Estimate for the Nelligan Project, Québec, Canada” (the “Technical Report”) with
an effective date of October 22, 2019, and a signature date of December 4, 2019, prepared for
Iamgold Corporation and Vanstar Mining Resources Inc..
3. I am a member in good standing of the Ordre des Géologues du Québec (OGQ licence No. 281),
the Association of Professional Geoscientists of Ontario (PGO licence No. 1719), Northwest
Territories and Nunavut Association of Professional Engineers and Geoscientists (NAPEG
No. L2701), the Canadian Institute of Mines, Metallurgy and Petroleum (CIM 91323), and of the
Society of Economic Geologists (SEG 132243). I graduated with a mining technician degree in
geology (1989) from Cégep de l’Abitibi-Témiscamingue) and a Bachelor’s degree in Geology (1992;
B.Sc.) and a Master’s in Earth Sciences (1994; M.Sc.) from Université du Québec à Montréal
(Montréal, Québec). I initiated a PhD in geology at INRS-Géoressources (Sainte-Foy, Québec) for
which I completed the course program but not the thesis.
4. I have practiced my profession continuously as a geologist for a total of twenty-seven (27) years
during which time I have been involved in mineral exploration, mine geology, ore control and
resource modelling projects for gold, copper, zinc, silver, nickel, lithium, graphite and uranium
properties in Canada and internationally.
5. I have read the definition of “qualified person” set out in National Instrument 43-101/Regulation
43-101 (“NI 43-101”) and certify that by reason of my education, affiliation with a professional
association (as defined in NI 43-101) and past relevant work experience, I fulfill the requirements
to be a qualified person for the purposes of NI 43-101.
6. I have visited the Nelligan Project on August 30 and 31, 2018, and on April 10, 2019 for the purpose
of this Technical Report.
7. I am the co-author of items 1 to 3, 12, 14 and 25 to 27 of the Technical Report, which I share the
responsibility.
8. I have not had prior involvement with the property that is the subject of this Technical Report.
9. I am independent of the issuer in accordance with the application of Section 1.5 of NI 43-101.
10. I have read NI 43-101 and Form 43-101F1, and the sections of the Technical Report for which I am
responsible have been prepared in accordance with that instrument and form.
11. I am not aware of any material fact or material change with respect to the subject matter of the
Technical Report that is not reflected in the Technical Report, the omission to disclose which makes
the Technical Report misleading.
Signed this 4th day of December 2019 in Val d’Or, Québec, Canada.
(Original signed and sealed)

Alain Carrier, M.Sc., P.Geo. (OGQ No. 281)
InnovExplo Inc.
alain.carrier@innovexplo.com
NI 43-101 Technical Report and Initial Mineral Resource Estimate - Nelligan Project - December 2019 iii
CERTIFICATE OF AUTHOR – VINCENT NADEAU-BENOIT
I, Vincent Nadeau-Benoit, P.Geo. (OGQ No. 1535, NAPEG No. L4154), do hereby certify that:
1. I am a professional geoscientist, employed as Geologist of InnovExplo Inc., located at 560, 3e
Avenue, Val-d’Or, Québec, Canada, J9P 1S4.
an effective date of October 22, 2019, and a signature date of December 4, 2019, prepared for
Iamgold Corporation and Vanstar Mining Resources Inc..
3. I am a member in good standing of the Ordre des Géologues du Québec (OGQ licence No. 1535)
and the Northwest Territories and Nunavut Association of Professional Engineers and
Geoscientists (NAPEG No. L4154). I graduated with a Bachelor’s degree in Earth and Atmosphere
Science (Geology) from Université du Québec à Montréal (Montréal, Québec) in 2010.
4. I have practiced my profession continuously as a geologist for a total of 8 years since graduating
from university during which time I have been involved in mineral exploration and mine geology
projects for precious and base metal properties in Canada.I acquired my expertise with Royal Nickel
Corporation and Glencore.
6. I have visited the Nelligan Project on August 30 to 31, 2018 and on April 10, 2019, specifically for
this Technical Report
7. I am the author of items 4 to 6, 9 to 11, 13, 23 and 24 in this Technical Report and co-author of all
other items for which I share the responsibility.
8. I have not had prior involvement with the property that is the subject of this Technical Report.
Signed this 4th day of December 2019 in Val d’Or, Québec, Canada.

Vincent Nadeau-Benoit, P.Geo. (OGQ No. 1535)
InnovExplo Inc.
vincent.nadeau-benoit@innovexplo.com
NI 43-101 Technical Report and Initial Mineral Resource Estimate - Nelligan Project - December 2019 iv
CERTIFICATE OF AUTHOR – STÉPHANE FAURE
I, Stéphane Faure, PhD, P.Geo. (OGQ No. 306, PGO No. 2662, NAPEG No. L3536), do hereby
certify that:
1. I am a professional geoscientist, employed as Senior Geologist of InnovExplo Inc., located at 859,
Boulevard Jean-Paul Vincent, Bureau 201, Longueuil, Québec, Canada, J4G 1R3.
an effective date of October 22, 2019 and a signature date of December 4, 2019, prepared for
Iamgold Corporation and Vanstar Mining Resources Inc.
3. I am a member in good standing of the Ordre des Géologues du Québec (OGQ licence No. 306),
the Association of Professional Geoscientists of Ontario (PGO licence No. 2662), and the
Northwest Territories and Nunavut Association of Professional Engineers and Professional
Geoscientists (NAPEG No. L3536). I graduated with a Bachelor of Geology degree from Université
du Québec à Montréal (Montréal, Québec) in 1987, a Master’s degree in Earth Sciences from
Université du Québec à Montréal in 1990 and a PhD degree in Geology from the Institut National
de la Recherche Scientifique (Québec City, Québec) in 1995.
4. I have practiced my profession continuously as a geologist for a total of twenty-four (24) years since
graduating in 1995. I acquired my expertise in mineral exploration with Inmet Mining in Central
America and South America, Cambior Inc. in Canada and numerous exploration companies
through the Research Consortium in Mineral Exploration. I have been a geological consultant for
InnovExplo Inc. since January 2016.
6. I have visited the Nelligan Project on August 30 and 31, 2018 for the purpose of this Technical
Report.
7. I am co-author and share responsibility for items 1 to 3, 7, 8 and 25 to 27 of the Technical Report.
8. I have not had prior involvement with the Property that is the subject of this Technical Report.
Signed this 4th day of December 2019 in Longueuil, Québec, Canada.

Stéphane Faure, PhD, P.Geo. (OGQ No. 306)
InnovExplo Inc.
stephane.faure@innovexplo.com
NI 43-101 Technical Report and Initial Mineral Resource Estimate - Nelligan Project - December 2019 v
TABLE OF CONTENTS
SIGNATURE PAGE – INNOVEXPLO .......................................................................................................... ii
CERTIFICATE OF AUTHOR – ALAIN CARRIER ...................................................................................... iii
CERTIFICATE OF AUTHOR – VINCENT NADEAU-BENOIT.................................................................... iv
CERTIFICATE OF AUTHOR – STÉPHANE FAURE ................................................................................... v
TABLE OF CONTENTS .............................................................................................................................. vi
LIST OF FIGURES .................................................................................................................................... viii
LIST OF TABLES ......................................................................................................................................... x
1. SUMMARY .......................................................................................................................................... 11
2. INTRODUCTION ................................................................................................................................. 16
2.1 Issuers ......................................................................................................................................... 16
2.2 Terms of Reference / Basis of the Technical Report .................................................................. 16
2.3 Report Responsibility and Qualified Persons.............................................................................. 17
2.4 Site visits ..................................................................................................................................... 17
2.5 Effective Date .............................................................................................................................. 17
2.6 Sources of Information ................................................................................................................ 18
2.7 Currency, Units of Measure, and Acronyms ............................................................................... 18
3. RELIANCE ON OTHER EXPERTS .................................................................................................... 22
4. PROPERTY DESCRIPTION AND LOCATION .................................................................................. 23
4.1 Location ....................................................................................................................................... 23
4.2 Claim Status ................................................................................................................................ 23
4.2.1 Nelligan Property ..................................................................................................................... 26
4.2.2 Émile Property ......................................................................................................................... 26
4.2.3 Miron Property ......................................................................................................................... 27
4.2.4 IAMGOLD Claims .................................................................................................................... 27
4.3 IAMGOLD–Vanstar Agreement................................................................................................... 27
4.4 Permits and Environment ............................................................................................................ 28
4.5 Communication and Consultation with the Community .............................................................. 28
5. ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY
29
5.1 Accessibility ................................................................................................................................. 29
5.2 Climate ........................................................................................................................................ 29
5.3 Local Resources and Infrastructure ............................................................................................ 29
5.4 Physiography............................................................................................................................... 31
6. HISTORY............................................................................................................................................. 32
6.1 1950 to 1967 ............................................................................................................................... 32
6.2 1977 to 1986 ............................................................................................................................... 32
6.3 1987 to 1996 ............................................................................................................................... 33
6.4 2012 to 2016 ............................................................................................................................... 33
7. GEOLOGICAL SETTING AND MINERALIZATION ........................................................................... 36
7.1 Regional Geology ........................................................................................................................ 36
7.1.1 Abitibi greenstone belt............................................................................................................. 36
7.1.2 The Caopatina-Desmaraisville segment ................................................................................. 38
7.2 Property Geology ........................................................................................................................ 41
7.2.1 Lithologies ............................................................................................................................... 41
7.2.2 Metamorphism......................................................................................................................... 41
7.3 Mineralization .............................................................................................................................. 43
NI 43-101 Technical Report and Initial Mineral Resource Estimate - Nelligan Project - December 2019 vi
7.3.1 Dan Zone................................................................................................................................. 44
7.3.2 Liam Zone ............................................................................................................................... 45
7.3.3 Zone 36 ................................................................................................................................... 45
7.3.4 Renard Zone ........................................................................................................................... 45
8. DEPOSIT TYPES ................................................................................................................................ 46
8.1 Orogenic Deposits ....................................................................................................................... 46
9. EXPLORATION................................................................................................................................... 48
9.1 Thin Section Petrography............................................................................................................ 48
9.2 UAV Magnetic Survey ................................................................................................................. 48
9.3 Mapping Programs ...................................................................................................................... 48
9.4 Soil sampling program ................................................................................................................ 49
10. DRILLING............................................................................................................................................ 50
10.1 Drilling Methodology .................................................................................................................... 50
10.1.1 Downhole core orientation survey ....................................................................................... 51
10.1.2 Core recovery and RQD measurements ............................................................................. 51
10.2 Recent Drilling Programs ............................................................................................................ 51
10.2.1 2017 Drilling Program ......................................................................................................... 56
11. SAMPLE PREPARATION, ANALYSES AND SECURITY ................................................................ 58
11.1 Core Handling, Sampling and Security ....................................................................................... 58
11.2 Laboratory Accreditation and Certification .................................................................................. 59
11.3 Laboratory Preparation and Assays ............................................................................................ 59
11.4 Quality Assurance and Quality Control (Vanstar period) ............................................................ 60
11.4.1 Certified reference materials (standards) ............................................................................ 60
11.4.2 Blank samples ..................................................................................................................... 61
11.4.3 Duplicates............................................................................................................................ 61
11.5 Quality Assurance and Quality Control (IAMGOLD period) ........................................................ 62
11.5.1 Certified reference materials (standards) ............................................................................ 63
11.5.2 Blank samples ..................................................................................................................... 65
11.5.3 Duplicates............................................................................................................................ 66
11.5.4 Check assays ...................................................................................................................... 68
11.6 Conclusions ................................................................................................................................. 70
12. DATA VERIFICATION ........................................................................................................................ 71
12.1 Historical work ............................................................................................................................. 71
12.2 IAMGOLD database .................................................................................................................... 71
12.2.1 Coordinate system .............................................................................................................. 71
12.2.2 Drill hole location ................................................................................................................. 71
12.2.3 Down-hole Survey ............................................................................................................... 72
12.2.4 Assays ................................................................................................................................. 72
12.3 Logging, Sampling and Assaying Procedures (IAMGOLD) ........................................................ 73
12.4 Independent Resampling ............................................................................................................ 75
12.5 Conclusion................................................................................................................................... 76
13. MINERAL PROCESSING AND METALLURGICAL TESTING ......................................................... 77
14. MINERAL RESOURCE ESTIMATES ................................................................................................. 79
14.1 Methodology ................................................................................................................................ 79
14.2 Drill Hole Database ..................................................................................................................... 79
14.3 Geological Model ........................................................................................................................ 80
14.3.1 Fracture domains and faults................................................................................................ 80
14.3.2 Mineralized Zones ............................................................................................................... 81
14.4 High-grade Capping .................................................................................................................... 81
NI 43-101 Technical Report and Initial Mineral Resource Estimate - Nelligan Project - December 2019 vii
14.5 Compositing ................................................................................................................................ 86
14.6 Bulk Density ................................................................................................................................ 86
14.7 Block Model ................................................................................................................................. 87
14.8 Variography and Search Ellipsoids ............................................................................................. 88
14.8.1 Variography ......................................................................................................................... 88
14.8.2 Search Ellipsoids ................................................................................................................. 90
14.9 Grade Interpolation ..................................................................................................................... 94
14.10 Block Model Validation ............................................................................................................ 95
14.11 Cut-off Parameters .................................................................................................................. 98
14.12 Mineral Resource Classification .............................................................................................. 99
14.12.1 Mineral resource classification ............................................................................................ 99
14.13 Mineral Resource Estimate ................................................................................................... 100
15. MINERAL RESERVE ESTIMATES .................................................................................................. 102
16. MINING METHODS .......................................................................................................................... 102
17. RECOVERY METHODS ................................................................................................................... 102
18. PROJECT INFRASTRUCTURE ....................................................................................................... 102
19. MARKET STUDIES AND CONTRACTS .......................................................................................... 102
20. ENVIRONMENTAL STUDIES, PERMITTING, AND SOCIAL OR COMMUNITY IMPACT ............. 102
21. CAPITAL AND OPERATING COSTS .............................................................................................. 102
22. ECONOMIC ANALYSIS ................................................................................................................... 102
23. ADJACENT PROPERTIES............................................................................................................... 103
23.1 Anik Property ............................................................................................................................. 103
23.2 Lac Surprise Property ............................................................................................................... 103
23.3 Opawica and Philibert-1 properties ........................................................................................... 104
23.4 Philibert ..................................................................................................................................... 104
23.5 Joe Mann................................................................................................................................... 104
23.6 Monster Lake property .............................................................................................................. 105
23.7 Chevrier property ...................................................................................................................... 105
23.8 Muus, Muus East and Nisk properties ...................................................................................... 106
24. OTHER RELEVANT DATA AND INFORMATION ........................................................................... 108
25. INTERPRETATION AND CONCLUSIONS ...................................................................................... 109
26. RECOMMENDATIONS ..................................................................................................................... 111
27. REFERENCES .................................................................................................................................. 113
APPENDIX I – List of Mining titles ......................................................................................................... 118
LIST OF FIGURES
Figure 4.1 – Location of the Nelligan Project in the Province of Quebec ................................................... 24
Figure 4.2 – Claim map for the Nelligan Project as of December 4, 2019 ................................................. 25
Figure 5.1 – Map showing access to the Nelligan Property........................................................................ 30
Figure 7.1 – Stratigraphic map of the Abitibi Greenstone Belt.................................................................... 37
Figure 7.2 – Geological map of the eastern part of the Caopatina-Desmaraisville segment ..................... 39
Figure 7.3 – Project geology map ............................................................................................................... 42
NI 43-101 Technical Report and Initial Mineral Resource Estimate - Nelligan Project - December 2019 viii
Figure 7.4 – Mineralized zones in the Nelligan MRE area.......................................................................... 43
Figure 7.5 – Example of pyrite mineralization in drill core from the Nelligan Project.................................. 44
Figure 8.1 – Inferred crustal levels of gold deposition showing different types of gold deposits and their
inferred deposit clan .................................................................................................................................... 47
Figure 9.1 – Soil sampling lines for the 2019 soil sampling program on the Nelligan Project .................... 49
Figure 10.1 – Drill hole locations for the 2017, 2018 and 2019 drilling programs ...................................... 52
Figure 11.1 – Results of blanks from the Vanstar period (n=75) ................................................................ 61
Figure 11.2 – Results of pulp duplicates (>0.1 g/t) from the Vanstar period .............................................. 62
Figure 11.3 – Results of blanks from the IAMGOLD period, from AGAT (n=122) ...................................... 65
Figure 11.4 – Results of blanks from the IAMGOLD period, from ALS (n=1301) ....................................... 66
Figure 11.5 – Results of coarse duplicates (>0.1 g/t) from the IAMGOLD period ...................................... 67
Figure 11.6 – Results of pulp duplicates (>0.1 g/t) from the IAMGOLD period .......................................... 68
Figure 11.7 – Results of check assays (>0.1 g/t) from the IAMGOLD period, with AGAT as the primary
laboratory .................................................................................................................................................... 69
Figure 11.8 – Results of check assays (>0.1 g/t) from the IAMGOLD period, with ALS as the primary
laboratory .................................................................................................................................................... 70
Figure 12.1 – Drill hole location validation (site visit, 2019) ........................................................................ 72
Figure 12.2 – Core logging facilities at the Nelligan Project ....................................................................... 74
Figure 12.3 – Regression plot of the independent resampling results ....................................................... 76
Figure 14.1 – Plan view of the validated diamond drill holes used for the 2019 MRE................................ 80
Figure 14.2 – Fractured domains and fault model for the Nelligan Project ................................................ 81
Figure 14.3 – Graphs supporting a capping value of 15 g/t Au for the Renard 1 domain .......................... 83
Figure 14.4 – Graphs supporting a capping value of 30 g/t Au for the Renard HG domain ....................... 84
Figure 14.5 – Example of sample length exceeding 1.5 m with low core recovery .................................... 85
Figure 14.6 – Variography study and search ellipsoid ranges by domain group ........................................ 90
Figure 14.7 – Isometric view of the search ellipsoid used for the Dan Zone .............................................. 92
Figure 14.8 – Isometric view of the search ellipsoid used for the Renard-2 domain in the Renard Zone .. 93
Figure 14.9 – Isometric view of the search ellipsoid used for the Renard-1 and Renard-HG domains in the
Renard Zone ............................................................................................................................................... 93
Figure 14.10 – Isometric view of the search ellipsoid used for the Liam and 36 zones ............................. 94
Figure 14.11 – Validation of the Nelligan Project interpolation results, comparing drill hole assays and block
model grade values ..................................................................................................................................... 96
Figure 14.12 – Swath plot for all domains in the Nelligan Project .............................................................. 97
Figure 14.13 – Example of the Renard 1 domain showing the clipping boundary, built on cross-sections, for
inferred classification before pit optimization .............................................................................................. 99
Figure 14.14 – Nelligan Project Mineral Resource Estimate results illustrations ..................................... 101
Figure 23.1 – Map of the Nelligan Project and adjacent properties .......................................................... 107
NI 43-101 Technical Report and Initial Mineral Resource Estimate - Nelligan Project - December 2019 ix
LIST OF TABLES
Table 2.1 – List of Acronyms....................................................................................................................... 18
Table 2.2 – List of units ............................................................................................................................... 19
Table 2.3 – Conversion Factors for Measurements .................................................................................... 21
Table 6.1 – Historical work carried out on the Nelligan Project .................................................................. 34
Table 10.1 – Drilling summary .................................................................................................................... 52
Table 10.2 – Significant results of the drilling programs ............................................................................. 52
Table 11.1 – Results of standards from the Vanstar period ....................................................................... 60
Table 11.2 – Results of standards from the IAMGOLD period ................................................................... 64
Table 12.1 – Independent resampling ........................................................................................................ 75
Table 13.1 – Gold deportment study (Deshaies, 2019) .............................................................................. 77
Table 13.2 – Gold recovery rate according to the scenarios tested (Deshaies, 2019) ............................... 78
Table 14.1– Summary statistics for raw assays by zone ............................................................................ 82
Table 14.2 – Confidence rating of core recovery values (Annels and Dominy, 2003) ............................... 82
Table 14.3 – Summary statistics for capped assays per zone ................................................................... 85
Table 14.4 – Summary statistics for composites by zone........................................................................... 86
Table 14.5 – Mean measured value for bulk specific gravity per domain ................................................... 87
Table 14.6 – Block model properties .......................................................................................................... 88
Table 14.7 – Block model naming convention and rock codes................................................................... 88
Table 14.8 – Variogram model parameters by domain group .................................................................... 89
Table 14.9 – Search ellipsoid parameters .................................................................................................. 91
Table 14.10 – Interpolation strategy for grouped domains ......................................................................... 95
Table 14.11 – Statistical comparison of the composite mean grades to block model mean grades for
different interpolation methods .................................................................................................................... 97
Table 14.12 – Input parameters used to calculate the cut-off grade .......................................................... 98
Table 14.13 – Nelligan Project Mineral Resource Estimate at 0.5 g/t cut-off for an open pit mining scenario
.................................................................................................................................................................. 100
Table 14.14 – Sensitivity of the pit-constrained Nelligan Project Inferred Mineral Resource Estimate to cut-
off grade .................................................................................................................................................... 101
Table 25.1 – Risks and opportunities of the Nelligan Project ................................................................... 109
Table 26.1 – Estimated costs for the recommended work program ......................................................... 112
NI 43-101 Technical Report and Initial Mineral Resource Estimate - Nelligan Project - December 2019 x
1. SUMMARY
At the request of IAMGOLD Corporation (“IAMGOLD”), InnovExplo Inc. was retained to

prepare a Technical Report to present and support the results of the Initial Mineral
Resource Estimate for the Nelligan Project in accordance with Canadian Securities
Administrators’ National Instrument 43-101 Respecting Standards of Disclosure for
Mineral Projects (“NI 43-101”) and Form 43-101F1.
The Project is under an earn-in option in a joint agreement between IAMGOLD and
Vanstar Mining Resources Inc. (“Vanstar”).
The Technical Report is addressed to IAMGOLD and Vanstar (“the issuers”) for the
purpose of regulatory obligations and public filing on SEDAR.
Property description and ownership

The Project is located in the Nord-du-Québec administrative region in the northwest of
the Province of Quebec, Canada.The Project is approximately 45 km south of the town
of Chapais, 60 km southwest of the town of Chibougamau and 280 km northeast of the
town of Val-d’Or. The approximate centre of the project is at Latitude 49°23'N and
Longitude 74°40'W.
The Project comprises the Nelligan (Main and West blocks), Émile and Miron properties
and an additional 9 claims, forming a block of 167 active claims covering an aggregate
area of 9,356.35 ha. The Project claims are registered 51% to IAMGOLD Inc. and 49%
to Vanstar, except for nine (9) claims registered 100% to IAMGOLD.
In 2014, Vanstar and IAMGOLD entered into an option agreement allowing the latter to
acquire up to 80% of the Nelligan Property. In 2018, the original agreement was replaced
by an Amending Agreement where Vanstar granted IAMGOLD an exclusive and
irrevocable first option to acquire an undivided 51% interest in the Project.
Following the exercise of the first option of the Amending Agreement, IAMGOLD holds
an option to earn an additional 24% interest in consideration of cash payments, as well
as the completion by March 2022 of a 43-101 Mineral Resource Estimate and supporting
technical report. If these conditions are met, 50% of the 2% NSR royalty on the original
claim of the Nelligan Property will be cancelled by Vanstar.
If IAMGOLD chooses not to earn the additional 24% interest, Vanstar may then redeem
its 51% interest in the Project by repaying IAMGOLD the equivalent of the exploration
expenses it will have incurred to this day. Once vested to an undivided 75% interest,
IAMGOLD will have a further option to earn an additional 5% interest, to hold an 80%
interest in the Nelligan project, by completing and delivering a feasibility study. Vanstar
would then retain a 20% undivided non-contributory carried interest until the
commencement of commercial production, after which: (1) the 20% undivided interest
becomes participating; and (2) Vanstar will pay its attributable portion of the total
development and construction costs to the commencement of commercial production
from 80% of its share of any ongoing distributions from the Joint Venture. Vanstar will
also retain a 1% NSR royalty on the original claims of the project.
NI 43-101 Technical Report and Initial Mineral Resource Estimate - Nelligan Project - December 2019 11
Geology and mineralization
The Project is located in the Caopatina-Desmaraisville volcano-sedimentary segment of
the Abitibi Subprovince of the Archean Superior Province. The main gold mineralization
currently known on the Project is hosted in strongly altered sedimentary rocks of the
Caopatina Formation and is located within the Nelligan MRE area where four (4) gold
zones have been discovered and intersected by numerous drill holes: Dan, Liam, Zone
36 and Renard.
The best gold intervals on the Project have been found in strongly silicified rocks. These
silicified and gold mineralized zones are up to 200 m thick. Silica alteration is pervasive
and seals the ductile structural fabric, suggesting that the timing of gold mineralization is
either syn- to late deformation.
Pyrite is the main sulphide mineral associated with the mineralized zones. It is mainly
observed as finely disseminated grains. Gold content is only weakly correlated with pyrite
abundance.
Status of the project

The Project is at an early exploration stage with some significant drilling results, known
gold occurrences and with a first Mineral Resources statement. The Project is
characterized by three main periods of data acquisition: historical (before 2012); Vanstar
(2012-2014); and IAMGOLD (since 2015). Overall, the historical period represents very
little data. Vanstar increased the exploration and drilling effort on the Project, and the
most intensive period of data acquisition was the recent period since IAMGOLD’s
involvement.
Mineral resource estimates

The main objective of this mandate and supporting report was to prepare the initial
mineral resource estimate for the Project, including the Renard, Liam, Dan and 36 zones.
The 2019 MRE herein follows CIM Definition Standards for Mineral Resources and
Mineral Reserves (“CIM Definition Standards”) and was prepared by InnovExplo, using
all available information.
The 2019 MRE covers a strike length of 3.5 km and a width of approximately 1.5 km,
down to a vertical depth of 500 m below surface. The resource database includes all drill
holes completed up to the end of the Winter 2019 drilling program and contains a total
of 191 drilled surface holes. Of these 191 drill holes, 176 informed the 2019 MRE.
The mineralized zone model comprises four (4) gold-bearing zones (Dan, Liam, 36 and
Renard) subdivided into eleven (11) domains for estimation purposes. The modelled
zones were created according to alteration type and intensity, and on gold grade
continuity within each zone. A minimum true thickness of 3.0 m was used. Two distinct
high-grade domains (Renard-HG inside Renard-1 and Liam-HG inside Liam) were
modelled to better constrain higher gold values.
Basic univariate statistics were performed on the overall assay data and on datasets
grouped by individual domains. The capping on raw assays consisted of a single top cap
of 30 g/t Au for the Renard-HG domain and 15 g/t Au for all other zones and domains. A
cap of 2.5 g/t Au was applied to some exceptional sample intervals characterized by very
poor recovery and sample lengths exceeding 2.0 m.
The interpolation profiles were customized for the eleven (11) mineralized domains using
hard boundaries. The variography study provided the parameters used to interpolate the
grade model using capped composites. The interpolation was run on the 3m composite
dataset. A cumulative 3-pass search was used for the resource estimate. The ordinary
kriging (“OK”) method was selected for the final resource estimate as it better honours
the raw assays and composites grade distribution for the deposit.
A rounded value of 0.50 g/t Au was selected as the in-pit cut-off grade given the early
stage of the project and the few preliminary metallurgical test results for estimating
processing cost and mill recovery. The Whittle pit shell used to constrain the 2019 MRE
was based only on inferred blocks and was optimized on the basis of a cut-off grade
value of 0.50 g/t Au.
InnovExplo is of the opinion that the current mineral resource estimate can be classified
as inferred mineral resources based on data density, search ellipsoid criteria, drill hole
spacing and interpolation parameters. InnovExplo considers the 2019 MRE to be reliable
and based on quality data, reasonable assumptions, and parameters that follow CIM
Definition Standards.
Nelligan Project Mineral Resource Estimate at 0.5 g/t cut-off for an open pit mining
scenario
Resource
Zones Tonnage (t) Grade (g/t Au) Gold ounces (oz)
Category
Dan 1,525,000 1.00 48,900

Liam 2,939,000 1.47 139,100
Inferred 36 809,000 0.87 22,500
Renard 91,716,000 1.01 2,983,400
Total 96,990,000 1.02 3,193,900
Notes to accompany the Mineral Resource Estimate:
1. The Independent and Qualified Persons for the Mineral Resource Estimate, as defined by NI 43-101, are Alain
Carrier, P.Geo., and Vincent Nadeau-Benoit P.Geo., both from InnovExplo Inc., and the effective date is October
2, 2019.
2. These mineral resources are not mineral reserves, as they do not have demonstrated economic viability.
3. The mineral resource estimate follows current CIM definitions and guidelines for mineral resources.
4. The results are presented undiluted and are considered to have reasonable prospects of economic viability.
5. The estimate encompasses four (4) gold-bearing zones (Renard, 36, Liam and Dan), subdivided into 11
subdomains each defined by individual wireframes with a minimum true thickness of 3.0 m, using the grade of the
material when assayed or a value of zero when not assayed. The resource was estimated using GEOVIA
GEMS 6.8.
6. High-grade capping supported by statistical analysis was done on raw assay data before compositing and
established on a per-zone basis. All zones and their subdomains were capped at 15 g/t, except for the High-grade
domain of the Renard Zone which was capped at 30 g/t. Raw assays associated with a core recovery below 60%
and/or with an interval length of more than 2.0 m were capped at 2.5 g/t.
7. Grade interpolation was performed by Ordinary Kriging on 3.0 m composites from drill hole intersections falling
within the mineralized zones in a block model with a block size of 10.0 m by 10.0 m by 10.0 m.
8. Bedrock was assigned a density value of 2.73 g/cm3 corresponding to the mean of SG measurements for the
Project. A fixed density value of 2.20 g/cm3 was assigned to highly fractured domains and 2.00 g/cm3 to the
overburden.
9. The estimate is categorized as inferred mineral resources. The inferred category is only defined with a minimum
of two (2) drill holes in areas where the drill spacing is less than 100 metres and reasonable geological and grade
continuity has been demonstrated.
10. The Mineral Resource Estimate is pit-constrained with a bedrock slope angle of 45° and an overburden slope
angle of 25°. It is reported at a rounded cut-off grade of 0.50 g/t Au. The cut-off grades were calculated using the
following parameters: mining cost = CA$ 3.00; processing cost = CA$ 12.00; G&A = CA$ 2.50; refining and selling
costs = CA$ 5.00; gold price = US$ 1,500.00/oz; US$:CA$ exchange rate = 1.1; and mill recovery = 92.0%. The
cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rates,
mining costs etc.).
11. The number of metric tonnes was rounded to the nearest thousand, following the recommendations in NI 43-101
and any discrepancies in the totals are due to rounding effects. The metal contents are presented in troy ounces
(tonnes x grade / 31.10348).
12. InnovExplo Inc. is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political,
or marketing issues, or any other relevant issue not reported in the Technical Report, that could materially affect
the Mineral Resource Estimate.
Conclusions and recommendations

The objective of InnovExplo's mandate was to present and support an initial mineral
resource estimate for the Nelligan Project. This Technical Report and the 2019 MRE
results herein meet these objectives.
After conducting a detailed review of all pertinent information and completing the
2019 MRE mandate, InnovExplo concludes the following:
 The database supporting the 2019 MRE is complete, valid and up to date;
 Geological and gold grade continuity has been demonstrated for the four
mineralized zones (Dan Zone, Liam Zone, Zone 36 and Renard Zone) and the
subdomains;
 The 2019 MRE key parameters (density, capping, compositing, interpolation,
search ellipsoid, etc.) are supported by data and statistical and/or geostatistical
analysis;
 The 2019 MRE was prepared as a pit-constrained (Whittle optimized pit shell)
inferred resource at a cut-off grade of 0.5 g/t;
 Cut-off grades were calculated at a gold price of US$1,500 per troy ounce and
an exchange rate of 1.1 USD/CAD, using reasonable mining, processing and
G&A costs;
 All blocks were classified as inferred resources. There are no measured or
indicated resources;
 The pit-constrained inferred resource is estimated at 96,990,000 tonnes at an
average grade of 1.02 g/t Au for a total of 3,193,900 ounces of gold;
 The 2019 MRE is considered to be reliable, thorough, based on quality data,
reasonable hypotheses, and parameters compliant with NI 43-101 requirements
and CIM Definition Standards;
 Opportunities exist to potentially add additional mineral resources to the Project;
 It is likely that additional in-fill drilling could upgrade some of the inferred
resources to the indicated category.
Based on the results of the 2019 MRE, InnovExplo recommends additional exploration
and delineation drilling, further geological interpretation, and improvement of the
metallurgical characterization to gain a better overall understanding of the risks and
opportunities for the Project.
Additional metallurgical testwork will yield a better assessment of the recovery rate and
milling cost assumptions in the cut-off grade calculation for a future MRE update and
associated optimized pit shell. In particular, InnovExplo recommends documenting the
gold recovery rate for different gold grade ranges, from lower to higher grade material,
and for different mineralized zones on the Project.
Infill drilling using a regular 50-m drilling grid should be completed to test continuity and
potentially convert some of the inferred resources to the indicated category.
Exploration drilling should target the known potential in the western extension of the
Renard Zone and the lateral and at-depth extensions of the Liam Zone. Conditional on
the success of the drilling programs, some satellite clusters of inferred resources could
be connected to the current main volume of inferred resources.
The highly fractured domains and faults could be characterized using borehole
televiewer surveys in about ten (10) previously drilled holes in strategic locations. The
surveys would improve the structural understanding of the Project and will better
constrain the width, extent and in-situ characteristics of the highly fractured domains and
faults.
In parallel, InnovExplo also recommends maintaining a pro-active and transparent
strategy and communication plan with local communities and First Nations. An
environmental baseline study should also be carried out.
In summary, InnovExplo recommends the following two-phase work program:
Phase 1:
 1A) Pro-active and transparent strategy and communication plan;
 1B) Additional metallurgical testwork;
 1C) Conversion and exploration drilling;
 1D) Acoustic televiewer survey campaign; and
 1E) MRE update
Phase 2 (conditional on the success of Phase 1):

 2B) Environmental baseline study;
 2C) Conversion and exploration drilling; and
 2D) MRE update and PEA
InnovExplo has prepared a cost estimate for the recommended work program to serve
as a guideline for the Project. The budget estimate for the proposed program is presented
in Table 26.1. The estimated cost for Phase 1 is C$4,439,000 (incl. 15% for
contingencies); the estimated cost for Phase 2 is C$3,070,500 (incl. 15% for
contingencies). The grand total is C$7,509,500 for both phases. Phase 2 is contingent
upon the success of Phase 1.
2. INTRODUCTION
2.1 Issuers
At the request of Marie-France Bugnon, General Manager Exploration (Americas) of
IAMGOLD Corporation ("IAMGOLD"), InnovExplo Inc. (“InnovExplo”) was retained to
prepare a Technical Report (the “Technical Report”) to present and support the results
of the Initial Mineral Resource Estimate (the “2019 MRE“) for the Nelligan Project (the
“Project” or the “Property”) in accordance with Canadian Securities Administrators’
National Instrument 43-101 Respecting Standards of Disclosure for Mineral Projects
(“NI 43-101”) and Form 43-101F1.
The Project is under an earn-in option in a joint agreement between IAMGOLD and
Vanstar Mining Resources Inc. (“Vanstar”). IAMGOLD holds an undivided 51% interest
in the Project following the execution of an Amending Agreement on February 27, 2018,
and is the operator of the agreement.
The Technical Report is addressed to IAMGOLD and Vanstar (“the issuers”) for the
purpose of regulatory obligations and public filing on SEDAR.
IAMGOLD is a mid-tier mining company with four operating gold mines in Canada, South
America and West Africa. The corporate headquarters is located at 401 Bay Street, Suite
3200, Toronto, Ontario, M5H 2Y4. IAMGOLD is a Toronto-based public company trading
on the Toronto Stock Exchange (TSX) under the symbol IMG since March 19, 1996, and
on the New York Stock Exchange (NYSE) under the symbol IAG since December 20,
2005.
Vanstar is a Canadian exploration company with corporate headquarters located at 824
Taschereau Boulevard, La Prairie, Québec, J5R 1V9. Vanstar is trading publicly on the
TSX Venture Exchange (“TSXV”) under the symbol VSR and on the Frankfurt Exchange
under the symbol 1V8.
InnovExplo is an independent mining and exploration consulting firm based in Val-d’Or,
Québec.
The 2019 MRE herein follows CIM Definition Standards for Mineral Resources and
Mineral Reserves (“CIM Definition Standards”).
2.2 Terms of Reference / Basis of the Technical Report

The Project includes all mining titles from the Nelligan, Émile and Miron properties,
corresponding to 167 active claims and covering a total area of 9,356.35 ha. The main
assets of the Project are four gold mineralized zones: Dan, Liam, 36 and Renard. The
Project is located in the Nord-du-Québec administrative region, south of the towns of
Chibougamau and Chapais, in the Province of Quebec.
In November 2014, Vanstar and IAMGOLD reached an option agreement allowing the
latter to acquire up to 80% of the Nelligan Property subject to certain conditions. In
February 2018, the original agreement was replaced by an Amending Agreement in
which Vanstar granted IAMGOLD an exclusive and irrevocable first option to acquire an
undivided 51% interest in the Nelligan Project which, from that point on, included the
Nelligan, Miron and Émile properties, by paying to Vanstar an additional amount of
$2,150,000 on the date of the Amending Agreement. Following the exercise of the first
option of the Amending Agreement, IAMGOLD may earn an additional 24% interest in
return for cash payments totalling $2,750,000 over a 4-year period, as well as the
completion by March 2022 of a 43-101 compliant Mineral Resource Estimate and the
filing of a supporting technical report.
Initial MRE results were announced by the issuers in a press release on
October 22, 2019, for which this Technical Report has been completed.
2.3 Report Responsibility and Qualified Persons

This Technical Report was prepared by Alain Carrier, M.Sc., P.Geo., Co-President
Founder of InnovExplo, Vincent Nadeau-Benoit, P.Geo., Project Geologist, and
Stéphane Faure, PhD, P.Geo., Geoscience Expert. Each are independent qualified
persons (“QPs”) as defined by NI 43-101.
Mr. Carrier is a professional geologist in good standing with the Ordre des Géologues du
Québec (OGQ No. 281), the Association of Professional Geoscientists of Ontario (PGO
No. 1719), and the Northwest Territories and Nunavut Association of Professional
Engineers and Geoscientists (NAPEG No. L2701). He is the co-author of items 1 to 3,
12, 14 and 25 to 27 of the Technical Report for which he shares responsibility.
Mr. Nadeau-Benoit is a professional geologist in good standing with the Ordre des
Géologues du Québec (OGQ No. 1535) and the Northwest Territories and Nunavut
Association of Professional Engineers and Geoscientists (NAPEG No. L4154). He is the
author of items 4 to 6, 9 to 11, 13, 23 and 24 in this Technical Report and co-author of
all other items for which he shares responsibility.
Mr. Faure is a professional geologist in good standing with the Ordre des Géologues du
Québec (OGQ No. 306), the Association of Professional Geoscientists of Ontario (PGO
No. 2662) and the Northwest Territories and Nunavut Association of Professional
Engineers and Geoscientists (NAPEG No. L3536). He is the co-author of items 1 to 3, 7,
8 and 25 to 27 of the Technical Report for which he shares responsibility.
2.4 Site visits

Alain Carrier, Stéphane Faure and Vincent Nadeau-Benoit of InnovExplo visited the
Project on August 30 to 31, 2018, as part of the current mandate. They visited the two
(2) logging facilities and the core storage facilities at Chibougamau during the on-going
campaign. They also reviewed drill sites and collar locations in the field. Their visit also
included a review of selected core intervals and an independent resampling program, as
well as a review of assay results, the QA/QC program, and the descriptions of lithologies,
alteration, mineralization and structures.
A second site visit was conducted by Alain Carrier and Vincent Nadeau-Benoit on April
10, 2019, in order to review additional results from the 2019 drilling program.
2.5 Effective Date

The close-out date of the mineral resource database is July 23, 2019.
The effective date of the 2019 MRE is October 22, 2019.
The effective date and signature date of this Technical Report is October 22, 2019, and
December 4, 2019, respectively.
2.6 Sources of Information

The documentation listed in items 3 and 27 were used to support this Technical Report.
Excerpts or summaries from documents authored by other consultants are indicated in
the text.
The authors’ assessment of the Project was based on published material in addition to
data, professional opinions and unpublished material submitted by the issuer. The author
reviewed all relevant information provided by the issuer and/or by its agents.
The author also consulted other sources of information, mainly the Government of
Québec’s online claim management and assessment work databases (GESTIM and
SIGEOM, respectively), as well as the issuers’ technical reports, annual information
forms, MD&A reports and press releases published on SEDAR (www.sedar.com).
The author reviewed and appraised the information used to prepare this Technical
Report, including the conclusions and recommendations, and believe that such
information is valid and appropriate considering the status of the project and the purpose
for which this Technical Report is prepared. The authors have fully researched and
documented the conclusions and recommendations made in this Technical Report.
2.7 Currency, Units of Measure, and Acronyms

A list of acronyms and a list of units used in this report are provided in Table 2.1 and
Table 2.2. All currency amounts are stated in Canadian Dollars ($, C$, CAD) or US
dollars (US$, USD). Quantities are stated in metric units, as per standard Canadian and
international practice, including metric tons (tonnes, t) and kilograms (kg) for weight,
kilometres (km) or metres (m) for distance, hectares (ha) for area, percentage (%) for
copper and nickel grades, and gram per metric ton (g/t) for precious metal grades.
Wherever applicable, imperial units have been converted to the International System of
Units (SI units) for consistency (Table 2.3).
Table 2.1 – List of Acronyms

Acronyms Term
43-101 National Instrument 43-101 (Regulation 43-101 in Québec)
C$:US$ Canadian-American exchange rate
CIM Canadian Institute of Mining, Metallurgy and Petroleum
CIM Definition Standards CIM Definition Standards for Mineral Resources and Mineral Reserves
CoG cut-off grade
CRM Certified reference material
CSA Canadian Securities Administrators
CV Coefficient of variation
DDH Diamond drill hole
ECCC Environment and Climate Change Canada
Acronyms Term
G&A General and administration
GESTIM Gestion des titres miniers (the MERN’s online claim management system)
ID2 Inverse distance squared
ISO International Organization for Standardization
Ministère de l’Énergie et des Ressources Naturelles du Québec (Québec’s
MERN
Ministry of Energy and Natural Resources)
mesh US mesh
MRC Municipalité régionale de comté (Regional county municipality in English)
MRE Mineral resource estimate
MRN Former name of MERN
n/a Not applicable
N/A Not available
NAD 83 North American Datum of 1983
nd Not determined
NI 43-101 National Instrument 43-101 (Regulation 43-101 in Québec)
NN Nearest neighbour
NRC Natural Resources Canada
NSR Net smelter return
NTS National Topographic System
OK Ordinary kriging
QA Quality assurance
QA/QC Quality assurance/quality control
QC Quality control
QP Qualified person (as defined in National Instrument 43-101)
Regulation 43-101 National Instrument 43-101 (name in Québec)
RQD Rock quality designation
SCC Standards Council of Canada
SD Standard deviation
SG Specific gravity
Système d'information géominière (the MERN’s online spatial reference
SIGÉOM
geomining information system)
UTM Universal Transverse Mercator coordinate system
Table 2.2 – List of units

Symbol Unit
% Percent
$, C$ Canadian dollar
Symbol Unit
$/t Dollars per metric ton
° Angular degree
°C Degree Celsius
μm Micron (micrometre)
cm Centimetre
cm3 Cubic centimetre
ft Foot (12 inches)
g Gram
Ga Billion years
g/cm3 Gram per cubic centimetre
g/t Gram per metric ton (tonne)
h Hour (60 minutes)
ha Hectare
k Thousand (000)
kg Kilogram
km Kilometre
L Litre
lb Pound
M Million
m Metre
m3 Cubic metre
Mtpa Million ton per year (annum)
Ma Million years (annum)
masl Metres above mean sea level
mm Millimetre
Moz Million (troy) ounces
Mt Million metric tons
oz Troy ounce
oz/t Ounce (troy) per short ton (2,000 lbs)
ppb Parts per billion
ppm Parts per million
t Metric tonne (1,000 kg)
ton Short ton (2,000 lbs)
US$ American dollar
wt% Weight percent
y Year (365 days)
yd3 Cubic yard
Table 2.3 – Conversion Factors for Measurements
Imperial Unit Multiplied by Metric Unit
1 inch 25.4 mm
1 foot 0.3048 m
1 acre 0.405 ha
1 ounce (troy) 31.1035 g
1 pound (avdp) 0.4535 kg
1 ton (short) 0.9072 t
1 ounce (troy) / ton (short) 34.2857 g/t
3. RELIANCE ON OTHER EXPERTS
This Technical Report has been prepared by InnovExplo at the request of IAMGOLD and
addressed to both issuers.
The QPs relied on the following people or sources of information during the preparation
of this Technical Report:
 In addition to technical information, IAMGOLD also supplied information on
mining titles, option agreements, royalty agreements, environmental liabilities,
permits, social acceptability and First Nations. InnovExplo verified the status of
the mining titles online and consulted the information provided by IAMGOLD as
well as public sources of relevant technical information. InnovExplo is not
qualified to express any legal opinion with respect to property titles, current
ownership or possible litigation;
 Simon Boudreau, P.Eng., of InnovExplo, provided the parameters used to
calculate the official cut-off grade and pit shell for the initial MRE; and
 Venetia Bodycomb, M.Sc., of Vee Geoservices, provided critical and linguistic
editing of a draft version of this Technical Report.
InnovExplo would like to acknowledge the support and collaboration provided by

IAMGOLD personnel for this assignment. In particular, InnovExplo would like to
acknowledge the contribution of Mrs Shana Dickenson, Senior Geologist at the Val-d'Or
Exploration office of IAMGOLD, and Mrs Coraline Crozier, Project Geologist on the
Nelligan Project. Their collaboration was greatly appreciated and instrumental to the
success of this assignment.
In addition, InnovExplo has relied on information provided in an internal memorandum
written by Mrs. Martine Deshaies, Corporate Metallurgist for IAMGOLD Corporation, for
Section 13 of this report.
4. PROPERTY DESCRIPTION AND LOCATION
4.1 Location
The Project is located in the Nord-du-Québec administrative region in the Province of
Quebec, Canada (Figure 4.1). The Project is approximately 45 km south of the town of
Chapais, 60 km southwest of the town of Chibougamau and 280 km northeast of the
town of Val-d’Or. It is located on map sheet 32G/07 in the townships of Hazeur and
Gamache. The approximate centre of the project is at Latitude 49°23'N and Longitude
74°40'W (UTM coordinates 5470953mN and 523819mE, NAD 83, Zone 18).
4.2 Claim Status

The Project comprises the Nelligan, Émile and Miron properties and additional claims,
forming a block of 167 active claims staked by electronic map designation covering an
aggregate area of 9,356.35 ha (Figure 4.2).
Claim status was supplied by Marie-France Bugnon, General Manager Exploration
(Americas) of IAMGOLD Corporation. The status of all claims was verified using
GESTIM, the government’s online claim management system available at the following
website address: gestim.mines.gouv.qc.ca.
InnovExplo has not performed an independent verification of the legality of any
underlying agreement(s) that may exist concerning the claims or other agreement(s)
between third parties but has relied on information provided by Marie-France Bugnon,
General Manager Exploration (Americas) of IAMGOLD Corporation who has validated
the information provided in Section 4.3.
According to GESTIM, the Project claims are registered 51% to IAMGOLD Corporation
Inc. and 49% to Vanstar Mining Ressources Inc., except for seven (7) contiguous claims
at the southern boundary of the Property and two (2) contiguous isolated claims
registered 100% to IAMGOLD Corporation.
The mining claims are subject to terms under several agreements as described in the
following sections.
A detailed list of mining titles, ownership and royalties is provided in Appendix I and
illustrated on Figure 4.2.
Figure 4.1 – Location of the Nelligan Project in the Province of Quebec
Figure 4.2 – Claim map for the Nelligan Project as of December 4, 2019
4.2.1 Nelligan Property
In September 2010, Vanstar Mining Resources Inc. (“Vanstar”) signed an agreement to
acquire 12 claims of the Nelligan Property from two independent prospectors and
referred as Nelligan-Philibert, in consideration of a cash payment of $4,160 and the issue
of 225,000 common shares, valued at $42,750. In 2012, 52 of the 92 originally acquired
claims were not renewed when they expired. The vendors have retained a 2% NSR
royalty from which 1% can be purchased for an amount of C$1.0M. An additional 80
claims were acquired by Vanstar by map designation to form the original Nelligan project.
During 2012, 52 of the 92 claims acquired originally were not renewed when they expired.
In 2013, 35 claims were acquired by Vanstar by map designation and 23 claims were
acquired for 350,000 common shares of Vanstar to be issued, valued at $30,750. No
royalty was retained.
On January 13, 2014, four (4) of the twelve (12) original claims were sold by Vanstar to
Stellar Africagold. On May 28, 2014, Vanstar acquired four (4) claims for a cash
consideration of $2,000 and 60,000 common shares of Vanstar valued at $5,400. On
June 30, 2014, Vanstar acquired nine (9) claims for a cash consideration of $4,500 and
the issuance of 80,000 common shares valued at $8,000. No royalty was retained.
During 2015, 23 claims were not renewed as agreed between Vanstar and IAMGOLD.
In February 2017, Vanstar signed an agreement with the original prospectors to re-
purchase their 2% NSR royalty granted on the remaining 8 claims acquired originally in
2010, in exchange for the issuance in their favour of 1,200,000 common shares of
Vanstar valued at $72,000 and a payment of $75,000. In May 2017, this agreement was
amended so that the cash payment of $75,000 was replaced by the issue of two
convertible debentures of $37,500 for a 36-month term bearing interest at the rate of
10% per year.
The Nelligan property currently comprises 84 active claims in two blocks of contiguous
claims and covering a total surface area of 4,705.40 ha.
4.2.2 Émile Property

In November 2014, Vanstar signed an agreement to acquire 100% of the Émile Property,
consisting of 13 claims, in exchange for the issue of 400,000 common shares valued at
$22,000. In February 2015, Vanstar acquired five (5) additional claims by map
designation.
In May 2016, Vanstar acquired a 100% interest in 33 claims, which were included in the
Émile Property, in consideration of 1,000,000 common shares, valued at $60,000. Of
those a bloc of 21 claims is subject to a 1% NSR Royalty.
In June 2016, Vanstar acquired nine (9) additional claims through map designation.
The Émile property currently comprises one block of 60 contiguous active claims
covering a total surface area of 3,361.91 ha.
4.2.3 Miron Property
The Miron Property, acquired through map designation by Vanstar in April 2015, was
originally composed of six (6) claims located along the western edge of the Nelligan
Property.
In October 2016, Vanstar acquired one (1) additional claim through map designation and
in 2017 they acquired seven (7) additional claims by map designation.
The Miron property currently comprises one block of 14 contiguous active claims
covering a total surface area of 784.40 ha.
4.2.4 IAMGOLD Claims

In December 2016 and June 2018, IAMGOLD has also acquired nine additional claims
by map designation, seven located at the southern border of the Émile property, and two
forming an isolated block located further south of the Émile property.
The IAMGOLD claims currently comprise two blocks of claims covering a total surface
area of 504.64 ha.
4.3 IAMGOLD–Vanstar Agreement

On November 17, 2014, Vanstar and IAMGOLD entered into an option agreement
allowing the latter to acquire up to 80% of the Nelligan Property subject to certain
conditions. The agreement specified that IAMGOLD could earn an initial interest of 50%
on ownership by making instalment payments of $500,000 and incurring $4,000,000 in
exploration expenditures over a period of four and a half years (4.5 years). In addition,
IAMGOLD could earn an additional 25% to 30% interest by conducting pre-feasibility and
feasibility studies and making additional cash payments of $500,000.
On February 22, 2018, the original agreement was replaced by an Amending Agreement
where Vanstar granted IAMGOLD an exclusive and irrevocable first option to acquire an
undivided 51% interest in the Nelligan Project which, from that point on, includes the
Nelligan, Miron and Émile properties, by paying to Vanstar an additional amount of
$2,150,000 on the date of the Amending Agreement.
Following the exercise of the first option of the Amending Agreement, IAMGOLD may
earn an additional 24% interest in consideration of cash payments totalling $2,750,000
over a 4-year period, as well as the completion by March 2022 of a 43-101 compliant
Mineral Resource Estimate and the filing of a supporting technical report. The
$2,750,000 sum will be paid out in three (3) annual payments of $400,000 and a final
amount of $1,550,000 on or before the 4th anniversary of the acquisition of the 51%
interest. If these conditions are met, 50% of the 2% NSR royalty on the original claim
cells of the Nelligan Property acquired from the original owners in February 2017 will be
cancelled by Vanstar.
If IAMGOLD chooses not to earn the additional 24% interest, Vanstar may then redeem
its 51% interest in the Project by repaying IAMGOLD the equivalent of the exploration
expenses it will have incurred to this day.
Once vested to an undivided 75% interest, IAMGOLD will have a further option to earn
an additional 5% interest, to hold an 80% interest in the Nelligan project, by completing
and delivering a feasibility study. Vanstar would then retain a 20% undivided non-
contributory carried interest until the commencement of commercial production, after
which: (1) the 20% undivided interest becomes participating; and (2) Vanstar will pay its
attributable portion of the total development and construction costs to the
commencement of commercial production from 80% of its share of any ongoing
distributions from the Joint Venture. Vanstar will also retain a 1% NSR royalty on the
original claims of the project.
4.4 Permits and Environment

IAMGOLD has the required permits to execute the drilling and stripping programs.
InnovExplo is not aware of any environmental liabilities with respect to the Project.
4.5 Communication and Consultation with the Community

The Project is located in Eeyou Istchee James Bay territory on Category III lands
belonging to the Government of Québec and is subject to the James Bay and Northern
Quebec Agreement. Mineral exploration is allowed under specific conditions. The issuers
shall be submitted to the Environmental Regime, which takes into account the Hunting,
Fishing and Trapping Regime. On Category III lands, Eeyou Istchee peoples have
exclusive rights to harvest certain species of wildlife and to conduct trapping activities.
Each hunting area has a tallyman. The issuers had, from time to time, communicated
with the regional level of government and the Cree Nation Government on these matters.
5. ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND
PHYSIOGRAPHY
5.1 Accessibility
The Project is located in the Nord-du-Québec administrative region, which comprises the
northern part of the province of Quebec, Canada. The Project is approximately 45 km
south of the town of Chapais, 60 km southwest of the town of Chibougamau and 280 km
northeast of the town of Val-d’Or. As shown in Figure 5.1, the Project is located south of
Caopatina Lake and is accessible by taking Highway 113 from Chapais or Chibougamau
and then taking the Barette-Sud (R1009) logging road and a series of smaller logging
roads. From Chapais, it is an 85-km drive taking approximately 90 minutes.
Mining and drilling operations may be carried out year-round with some limitations in
specific areas of the Project, but surface exploration work (mapping, channel sampling)
should be planned from mid-May to mid-October. Lakes are usually frozen and suitable
for drilling from January to April. Conditions may be difficult when the snow melts in May
and for a few weeks during moose hunting season in the fall.
5.2 Climate
The Project area has a subarctic climate, despite its position below latitude 50°. Winters
are long, cold and snowy, and summers are short, warm and mild. According to
Environment Canada (climat.meteo.gc.ca/climate_normals), statistics for the town of
Chapais during the 1981–2010 period show a daily average temperature for July of
16.4°C and a daily average temperature for January of -18.8°C. The record low
was -43.3°C, and the record high was 35°C. Overall, precipitation is high for a subarctic
climate with an average annual precipitation of 996 mm, and 313 cm of snow in the winter
season, which runs from October to May with a peak from November to March. There
are, on average, 231 days without frost. Precipitation is considerable year-round,
although February through April are drier. Climatic conditions do not seriously hinder
exploration or mining activities, with only some seasonal adjustments for certain types of
work (e.g., conducting mapping in summer and drilling boggy areas in winter).
5.3 Local Resources and Infrastructure

Social and health services, as well as services related to the mining industry, can be
found in the towns of Chibougamau and Chapais or in the community of Oujé-
Bougoumou (Figure 5.1). Qualified personnel can be found throughout the region.
Chibougamau has a population of approximately 7,500, Chapais 1,500, and Oujé-
Bougoumou 740 (Canada Census, 2016). These localities have quarry-specific
equipment, and workers specialized in quarrying. The Project area is well serviced by
exploration and mining industries, Chibougamau and Chapais are former mining towns
with approximately 60 years of mining history.
Mobile connections, electricity, railroads and other services are found within 50 km of the
project. The Chibougamau/Chapais Airport is located 20 km southwest of Chibougamau
or about halfway to Chapais along Highway 113. A high voltage line crosses the Property
on the eastern side. Water is readily available from the many creeks and lakes found on
the Project.
IAMGOLD uses two core logging and storage facilities situated in the town of
Chibougamau. There is no permanent infrastructure on the Property.
Figure 5.1 – Map showing access to the Nelligan Property
5.4 Physiography
Based on the vegetation zones map of Quebec, the Project lies within the boreal zone
and the continuous boreal forest subzone. Forest cover consists of various types of
broad-leaved trees and conifers dominated by birch, black spruce and larch in wet areas.
The forest has been harvested over most of the Project. Fauna is typical for this type of
forest, with moose, black bears, foxes, partridges, hares, beavers and numerous small
mammals. The region is fairly flat with the presence of numerous lakes and wetlands and
drainage is generally poor throughout the area. The approximate elevation of the Project
varies from 381 to 411 masl. The Project is covered by thick glacial deposits. Outcrop
exposure on the Project is poor.
6. HISTORY
This review summarizes all work and activities completed prior to 2017. Historical
information (prior to December 2014) is mainly based on information from the MERN’s
SIGEOM database (sigeom.mrnf.gouv.qc.ca), whereas information for the period from
December 2014 to 2017 was obtained from IAMGOLD.
Because no technical reports have been published to date, the information for the period
from January 2017 to December 2018 will be considered as “current” and will be
presented in items 9 and 10 of this report.
The following sections summarize all historical work by period, such as geophysical
surveys, mapping, trenching, rock and soil sampling, as well as drilling for each area of
interest on the Property. Table 6.1 summarizes the historical work done in the area of
the Nelligan Project between 1977 and 2016.
6.1 1950 to 1967

The first documented work on the Project was in 1951 by Wright-Hargreaves Mines
Limited and Paymaster. Prospecting, mapping and geophysical work were conducted
after gold was discovered in the Joe Mann deposit, 18 km ENE of the Project. The Joe
Mann discovery (historical production of 1.08 M oz of gold and 22.5 M lb of copper from
1956 to 2003) sparked great interest in the Chibougamau-Chapais area (Harris, 1951;
Low, 1951), but significant exploration work did not occur until the late 1960s.
In 1952, the first local Mag survey was performed by Kerromac Mining Co. Ltd in Hazeur
Township, as well as detailed prospecting and exploration work on a portion of the
Project.
In 1958, subsequent geophysical Mag and EM surveys were completed by New Jersey
Zinc, leading to the first trenching on the Project in 1959 (Low, 1951).
In 1964, iron prospecting by McAdam and Flanagan took place after the publication of
the Lac Surprise aeromagnetic survey over the Gamache and Hazeur townships.
Detailed geophysical work targeted aeromagnetic anomalies. In 1965, a 152-m hole was
drilled, yielding poor results for iron prospects, and McAdam and Flanagan performed
no further work (Duquette, 1965).
The authors of various reports during this period mentioned the difficulties caused by the
thick overburden cover and sparse outcrops.
6.2 1977 to 1986

In 1977, Falconbridge Nickel Mines conducted EM surveys with horizontal loops using a
300 to 400 ft cable combined with a Mag survey. A gravity survey was performed the
next year to refine potential targets. In 1978, nine (9) holes were drilled for 2,409 ft on
different geophysical anomalies. One of the holes (777-5) was drilled on the Project
(Lavoie, 1977; Lavoie, 1978; Simoneau et al., 1978).
From 1978 to 1982, Patino Mines Limited conducted some geological and geophysical
surveys (HEM, Mag and Max-Min) (Larivière, 1982; Murdy, 1978; Kennedy, 1983;
Kennedy, 1984).
From 1983 to 1984, SOQUEM conducted geophysical surveys (HEM, Mag, PP),
prospecting, drilling and boulder prospecting (Thériault, 1984). In 1986, Société
d’Exploration Minière Pontiac and SOQUEM performed a variety of work in the area,
including overburden stripping, boulder sampling and prospecting, which led to the
discovery of the Tour de Feu showing (2.2 g/t Au) in the northeast part of the Project
(Grenier, 1986).
6.3 1987 to 1996

From 1987 to 1988, SOQUEM continued its fieldwork with mapping, trenching and
drilling. A total of 17 holes were drilled for 1,910 m (DDH 87-01 to 88-17), 13 of which
were on the Project (Miron,1988). SOQUEM compiled the geophysical reports and
performed a heliborne combined Mag, EM and VLF survey over the Lac Surprise area,
covering part of the Project (De Carle, 1987; Hubert, 1988).
In 1988, Exploration Muscocho performed a gradiometer survey and drilled 13 holes.
They also conducted a biochemical survey on their Hazeur iron property in the same
year (Brodie-Brown and Zuiderveen, 1988). Exploration Noramco drilled seven (7) holes
(Tremblay, 1988). In 1989, Abbey Exploration carried out several geophysical surveys
on the Project (Killin, 1989).
In 1994, 2736-1179 Quebec Inc. conducted a drilling program consisting of four (4) holes
for 1,213 m, two (2) of which were drilled on the Project (AD-94-1, D 1-94) but neither
yielded significant results (Fournier, 1994). From 1994 to 1996, SOQUEM and
Ressources Unifiées Oasis Inc., both part of the Syndicat du Beep Mat, completed work
as contractors while the property was optioned by a group comprising Pontiac
Exploration Inc., Ressources Abbey and R.W. Metcalfe. An extensive Beep Mat survey
was performed. Eighteen (18) holes were drilled for 1,557 m (1138-94-01, 1138-94-04
to 1138-94-20), four (4) of which were on the Project (De Chavigny, 1994). An additional
19 holes were drilled in 1995, 10 of which were on the Project (Chainey, 1995a;1995b;
1995c; 1995d 1996a). In 1996, Ressources Unifiées Oasis Inc. conducted a till sampling
program in the northwestern part of the Project (Chainey, 1996b).
6.4 2012 to 2016

In 2012, Vanstar carried out a drilling program on the Lac d’Eu showing for a total of 11
holes totalling 1,968 m (Tazerout, 2012a; 2012b).
In 2013, following the results of a detailed geophysical survey (ground magnetic;
Lambert, 2013), compilation and interpretation, Vanstar developed new drill targets
which has led to the discoveries of Liam (hole NE-13-04) and Mila zones (hole NE-13-
01). In 2013-2014, additional drilling was completed on those gold discoveries
demonstrating the continuity of the Liam zone and allowing the additional gold
discoveries of Dan and 36 zones. During the 2013-2014 period , Vanstar drilled 24 holes
for a total of 3,806 m (Lambert, 2014; Kelly, 2014a, 2014b; Boivin, 2014). In 2014,
Vanstar and IAMGOLD concluded an option agreement on the Project.
From 2014 to 2016, IAMGOLD drilled 29 holes for a total of 9,879 m on the Liam, Dan,
and 36 zones which has also led to the discovery of the Renard Zone. IAMGOLD also
conducted field mapping and prospecting in the summer of 2015 and different
geophysical surveys (PP, resistivity and EM) over the summers of 2015 and 2016
(Gauthier, 2015).
Table 6.1 – Historical work carried out on the Nelligan Project
Year Company Type of work Areas of interest
- Geophysical: EM and Mag
1977 Hazeur and Gamache townships
surveys
Falconbridge Nickel Mines - Geophysical: Gravity

survey
Hazeur and Gamache townships
- Diamond Drilling: 1 hole;
1978 76 m
- Geophysical: Mag and
Patino Mines Ltd Hazeur Township
HEM surveys
1982 - Geological survey Hazeur Township
1983 Mines Northgate Patino Inc - Geophysical: HEM survey Hazeur and Gamache townships
- Geophysical: Max-Min
1984 Hazeur Township
survey
- Geological: Overburden
Société d’Exploration Minière
1986 stripping, boulder sampling Hazeur and Gamache townships
Pontiac
and prospecting
- Geophysical: EM and VLF
SOQUEM Hazeur Township
surveys
1987
- Geophysical: Gradiometer
Exploration Muscocho Hazeur Township
survey
SOQUEM - Diamond drilling: 13 holes Hazeur Township
Exploration Noramco - Diamond drilling: 7 holes Hazeur Township
1988
- Diamond drilling: 13 holes
Exploration Muscocho - Geochemistry: Hummus Hazeur Township
biochemical
- Geophysical: EM, VLF and
1989 Abbey exploration Hazeur and Gamache townships
Mag surveys
2736-1179 Quebec Inc - Diamond drilling: 2 holes Hazeur Township
1994 SOQUEM and Ressources
- Diamond drilling: 4 holes Hazeur Township
Unifiées Oasis Inc.
- Geophysical: Beep Mat
Syndicat du Beep Mat Hazeur and Gamache townships
survey (231 samples)
1995
SOQUEM and Ressources
- Diamond drilling: 10 holes Hazeur Township
Unifiées Oasis Inc.
1996 Ressources Unifiées Oasis Inc. - Geochemistry: Till sampling Hazeur Township
- Geophysical: Magnometer
2012 Hazeur and Gamache townships
survey
- Diamond drilling: 11 holes;
Discoveries and Mila zones
1,968 m
2013
Vanstar - Diamond drilling: 9 holes;
Mostly on Liam Zone
1,406 m
- Geophysical: Mag survey Hazeur and Gamache townships
2014 - Diamond drilling: 15 holes;
Liam, Dan and 36 zones
2,400 m
Year Company Type of work Areas of interest
Liam Zone
585 m
Liam and Dan zones
2,516 m
- Geological: mapping and
Nelligan Property
prospecting
2015
- Geophysical: IP
IAMGOLD Liam Zone
(OreVision®) survey
- Geophysical: EM survey
Nelligan Property
(VTEM™ Plus)
- Diamond drilling: 20 holes; Liam, Dan, 36 zones and
6,778 m discovery of the Renard Zone
2016
- Geophysical: IP and
Nelligan Property
Resistivity
7. GEOLOGICAL SETTING AND MINERALIZATION
The Project is located in the northeastern corner of the Abitibi Subprovince of the Archean
Superior Province, approximately 15 km west of the contact with the Mesoproterozoic
aged Grenville Province, also known as the Grenville Front (Figure 7.1).
7.1 Regional Geology
7.1.1 Abitibi greenstone belt

The Abitibi greenstone belt (Abitibi Subprovince) is composed of east-trending synclines
of largely volcanic rocks and intervening domes cored by synvolcanic and/or syntectonic
plutonic rocks (gabbro-diorite, tonalite, and granite in composition), alternating with east-
trending sedimentary basins (Ayer et al., 2002; Daigneault et al., 2004; Goutier and
Melançon, 2007). Most of the volcanic and sedimentary strata dip vertically and are
generally separated by abrupt, east-trending faults with variable dips. Some of these
faults, such as the Porcupine-Destor Fault, display evidence for overprinting deformation
events, including early thrusting and later strike-slip and extension events (Goutier, 1997;
Benn and Peschler, 2005; Bateman et al., 2008). Two ages of unconformable successor
basins occur early: widely distributed “Porcupine-style” basins of fine-grained clastic
rocks; followed by Timiskaming-style basins of coarser clastic and minor volcanic rocks
which are largely fault-bounded proximal to major regional faults (Porcupine-Destor,
Larder-Cadillac, and similar faults in the northern Abitibi greenstone belt; Ayer et al.,
2002; Goutier and Melançon, 2007). In addition, the Abitibi greenstone belt is cut by
numerous late-tectonic plutons from syenite and gabbro to granite with lesser dikes of
lamprophyre and carbonatite. The metamorphic grade in the greenstone belt displays
greenschist to sub-greenschist facies, except around plutons where amphibolite grade
prevails (Joly, 1978; Powell et al., 1993; Dimroth et al., 1983; Benn et al., 1994; Faure
2015).
The Abitibi greenstone belt is subdivided into seven discrete volcanic stratigraphic
episodes based on groupings of numerous U-Pb zircon ages (Thurston et al., 2008).
These episodes denote a geochronological constrained stratigraphy; they are listed from
oldest to youngest:
 Pre-2750 Ma volcanic episode 1;
 Pacaud Assemblage (2750-2735 Ma);
 Deloro Assemblage (2734-2724 Ma);
 Stoughton-Roquemaure Assemblage (2723-2720 Ma);
 Kidd-Munro Assemblage (2719-2711 Ma);
 Tisdale Assemblage (2710-2704 Ma); and
 Blake River Assemblage (2704-2695 Ma).
U-Pb zircon ages and recent mapping by the Ontario Geological Survey and Géologie
Québec show similarity in timing of volcanic episodes and ages of plutonic activity
between the northern and southern Abitibi Greenstone Belt as indicated in Figure 7.1.
Therefore, the geographic limit between the northern and southern parts of the Abitibi
greenstone belt had only stratigraphic and structural significance, no tectonic significance
(Thurston et al., 2008).
Modified from Thurston et al. (2008)
Figure 7.1 – Stratigraphic map of the Abitibi Greenstone Belt
7.1.2 The Caopatina-Desmaraisville segment
The Project is located in the Caopatina-Desmaraisville volcano-sedimentary segment
(Figure 7.2). The following description of the eastern part of the segment is mostly
modified and summarized from Midra et al. (1992); Dion and Simard (1999); and Faure
(2012), and retains the references therein.
The eastern part of the Caopatina-Desmaraisville is mainly composed of volcanic rocks
belonging to the 2734-2724 Ma Deloro Assemblage (Figure 7.2). Several volcanic cycles
are distinguished in this area (Daigneault and Allard, 1990; Guha et al., 1991; Leclerc et
al., 2011; Leclerc et al., 2017):
The first volcanic cycle surrounds the Eau Jaune intrusive complex and is named the
Chrissie Formation. This formation is divided into two segments: a lower member of
basalts and an upper member of felsic volcanics.
The Roy Group consists of two volcanic cycles:
1. The first cycle includes the Obatogamau and Waconichi formations. The
Obatogamau Formation consists of thick sequences of mafic lavas. The overlying
volcaniclastic rocks, pyroclastic rocks and felsic flows of the Waconichi Formation
mark the end of the first volcanic cycle.
2. The second cycle includes the Bruneau Formation (tholeiitic basalts) and the
Blondeau Formation (calc-alkaline basalts, volcaniclastic and sedimentary rocks).
The sedimentary rocks of the Caopatina Formation, which host the mineralized zones of
the Project, overlay the volcanic cycles and are composed, in order of importance, of
feldspathic wackes, siltstones-mudstones-argillites (turbidites), greywackes,
conglomerates, and layers of iron formations. Locally, basalts and gabbro sills are
intercalated between sediment beddings. They probably correspond to the last volcanic
pulses during the sedimentation phase.
Several regional pre-deformation folds are preserved in the region (Daigneault and Allard,
1990). These folds, associated with the Kenorean orogeny, are oriented N-S to NNW
without the development of a schistosity.
Following the development of these folds, the main deformation occurred and was
characterized by regional N-S shortening. This structural episode was the origin of the
E-W tectonic fabric marked by the direction of large folds axes, the regional schistosity,
and the large deformation corridor shown by longitudinal faults. Three large structures
are known in the region: 1) the Druillettes Syncline 2) the La Dauversière Anticline, and
3) the Opawica Anticline (Figure 7.2). The regional schistosity is well developed and is
generally trending E-W, except when approaching the intrusions where it molds itself to
the contacts of these intrusions.
Adapted and modified from SIGEOM and Faure (2012)
Figure 7.2 – Geological map of the eastern part of the Caopatina-Desmaraisville segment
The late deformation episode is represented by two shear cleavages that cut or fold the
main regional schistosity where the deformation is weak. In strongly deformed areas, a
crenulation cleavage affects the regional schistosity and the schistosity related to
deformation corridors. Asymmetric “Z” folds can be observed where the cleavage is well
developed.
In the Caopatina-Desmaraisville segment, faults are grouped into four groups based on
their direction: E-W, SE, NE, and NNE faults. The E-W and SE longitudinal faults are the
oldest and associated with the main episode of deformation. The NE faults cut the
regional schistosity and the E-W faults. Late NNE faults are commonly related to the
Grenvillian orogeny.
The Kapunapotagen and Guercheville faults are the main regional deformation corridors.
The two faults are typical of east-trending ductile faults that crosscut the Abitibi
Subprovince and are characterized by pure shear with dextral reactivation (Daigneault
and Archambault 1990; Daigneault, 1996). They reach up to 1 km wide and are
characterized by an intense schistosity, mylonitic zones, and carbonate- and sericite-rich
alteration. The Guercheville Fault has a typical magnetic signature characterized by
anomalies mainly associated with graphitic sedimentary rocks.
The NE faults are well documented in the Fancamp Deformation Corridor (“FDC”) area
between the Eau Jaune Complex and the Verneuil Pluton. The FDC is oriented NE-SW
and has an average width of 600 m (Tait, 1992; Legault et al., 1997; Legault and
Daigneault, 2006). It can be traced for up to 32 km and dips steeply (80°) toward the SE.
The FDC is different from other deformation zones in the Abitibi Subprovince by its NE
orientation and the presence of two intense cleavages.
Regional metamorphism is mainly associated with the Kenoran orogeny and varies from
greenschist in the northwest to amphibolite facies towards the south and southeast
approaching the Grenville Front. Amphibolite contact metamorphism is also present
around some felsic intrusions.
The only mine in the eastern part of the Caopatina-Desmaraisville segment was the
former Joe Mann mine (Figure 7.2), 17 km to the ENE of the Project, which produced
4,754,375 t at 8.26 g/t Au and 0.3% Cu (Houle, 2011).
at the most notable deposit in the Project area is the Philibert deposit located 7 km to the
NE. In 1991, SOQUEM reported a historical mineral resource estimate of 1,393,042 t
grading 5.3 g/t Au.
These “Resources” are historical in nature and should not be relied upon. It is unlikely they conform
to current NI 43-101 requirements or follow CIM Definition Standards, and they have not been verified
to determine their relevance or reliability. They are included in this section for illustrative purposes
only and should not be disclosed out of context.
7.2 Property Geology
The Property is characterized by overburden cover ranging from 10 to 50 m thick.
Outcrops are rare and found mainly in the west-central part of the Property. Most of the
recent geological information was obtained from diamond drill holes, mainly in the
northern part of the Property, in addition to geophysical interpretations.
The Property is bordered to the north by the Hazeur Pluton and to the south by the Lac
Surprise Batholith, both Archean in age and tonalitic in composition (Figure 7.3). The
E-W oriented Druillettes syncline cuts across the middle of the Property.
7.2.1 Lithologies
The Caopatina Formation is a sequence of sedimentary rocks that occupies the heart of
the Druillettes syncline. It is delimited to the north and south by major longitudinal E-W
faults. The principal units, described by IAMGOLD (2018a), are a succession of mudrock
and quartz-feldspar wackes. Some conglomeratic units are also present (mainly in the
northwestern part of the Property), in addition to an iron formation composed of
centimetric magnetite banding (locally more hematized), intercalated with black graphitic
mudstones. It is estimated that the Caopatina Formation is 1-2 km thick, but the
maximum thickness is not known as drill holes did not intersect the contact characterizing
the bottom of the formation. Heavily weathered sediments (supergene argilic material)
have been intersected in some drill holes down to depths of 350 m.
The Obatogamau Formation is present on both sides of the Druillettes syncline. It
consists of basalts and gabbros of tholeiitic composition.
7.2.2 Metamorphism
The transition zone between greenschist facies and amphibolite facies occurs at the
western limit of the Property (Midra,1992). Metamorphic minerals belonging to upper
greenschist and lower amphibolite facies in metasedimentary and volcanic rocks have
been observed on the Property (hornblende, albite, biotite, phlogopite, chlorite, quartz
and garnet).
Geology map adapted and modified from SIGEOM, Faure (2012), and a local Mag geophysical survey (total mag field)
Figure 7.3 – Project geology map
7.3 Mineralization
The following descriptions of mineralized zones is taken from Crozier (2018) and retains
the references therein. It is supplemented by observations made by InnovExplo during
site visits and by geological drill hole interpretations combined with geophysical survey
results.
The main gold mineralization currently known on the Project is located in the northeast
part. within the Nelligan MRE area where four (4) gold zones have been discovered and
intersected by numerous drill holes: Dan, Liam, Zone 36 and Renard.
Figure 7.4, the zones are interpreted as a series of more or less parallel, ENE-trending
altered envelopes, with an average dip of 60° to the SSE. The interpreted zones are
vertically stacked, separated by waste gaps of 25 to 75 m.
Figure 7.4 – Mineralized zones in the Nelligan MRE area
Mineralization is hosted in strongly altered sedimentary rocks of the Caopatina

Formation. The main alteration types are silicification, carbonatization (dolomite +
ankerite ± siderite ± calcite), potassic alteration, and occasionally albitization and
hematization. Secondary minerals include amphibole, garnet, biotite, sericite and rutile.
Thus far, the best gold intervals on the Project have been found in strongly silicified rocks.
Silicification affects the host rocks in most known mineralized zones, locally obliterating
the protolith and rendering protolith identification difficult. These silicified and gold
mineralized zones are up to 200 m thick. Silica alteration is pervasive and seals the
ductile structural fabric, suggesting that the timing of gold mineralization is either syn- to
late deformation. Horizons of quartz-sericite schists, often with traces of fuchsite, have
been documented, particularly in the walls of these silicified zones or in the immediate
vicinity of iron formations. A phlogopite-carbonate alteration zone, around 50 m thick, is
also observed above the lower contact of the Renard Zone. The main alteration,
moderate to strong within the mineralized zones, decreases gradually in intensity toward
their margins and continues to decrease in intensity, moving away from their interpreted
boundaries.
Pyrite is the main sulphide mineral associated with the mineralized zones. It is mainly
observed as finely disseminated grains (mainly between 1 and 3%; locally up to 10-30%
in silicified zones), but also as semi-massive beds, bandings, fracture fillings and
millimetric veinlets parallel to schistosity. Local occurrences of chalcopyrite and
molybdenite are generally associated with quartz-carbonate veinlets. Visible gold is rare,
but when observed, it is found in association with quartz-carbonate veinlets or between
pyrite grains. Gold content is only weakly correlated with pyrite abundance.
Clockwise from top-left corner: Pyrite as fracture fillings in hole NE-18-75, as fine disseminations in NE-17-54, and as
disseminations and semi-massive beds in NE-19-124.
Figure 7.5 – Example of pyrite mineralization in drill core from the Nelligan Project
7.3.1 Dan Zone

The Dan Zone is the southernmost of the mineralized zones in the resource area. It
includes three tabular mineralized envelopes, each 20 to 30 m thick and separated by
roughly 60-m-thick waste gaps. Mineralization is hosted in clastic sedimentary rocks,
namely conglomeratic and wacke (feldspathic) units. The top and bottom envelopes have
a lateral extent of 300 m, and the middle envelope extends for 500 m. The two upper
envelopes are constrained down-dip; the bottom envelope remains open down-dip.
The entire zone is strongly silicified. Pervasive hematization and potassic alteration are
common and the intensity ranges from strong to moderate. Fracture-controlled
albitization is also present. A hematite and silica alteration halo occurs around the
silicified zone: distal, pervasive and weak in some places, fracture-controlled in others.
7.3.2 Liam Zone

The Liam Zone is 25 to 35 m thick with a lateral extent of 690 m. It remains open down-
dip. The zone is confined between two faults. The mineralized envelope is parallel to the
faults and is hosted in three different units: an upper unit of sericitized schist, a middle
unit of banded iron formation with centimetric alternations of magnetite and hematite
bands, and a lower heavily silicified unit with an unidentified protolith.
Alteration is characterized by an assemblage of silica, K-feldspar, carbonate and sericite.
Potassic alteration and silicification are pervasive and moderate to strong in intensity, or
fracture controlled. Carbonatization (mainly dolomite and ankerite) is weak and also
pervasive and fracture-controlled. Sericite is locally associated with faulting within the
zone, footwall or hanging wall.
7.3.3 Zone 36
Zone-36 consists of two envelopes, each approximately 25 m thick, one partially above
the other. The zone is mainly hosted by a heavily silicified unit. Silicification tapers to the
SW and NE. The zone extends 400 m laterally and is still open down-dip.
The zone is characterized by an alteration assemblage of silica, K-feldspar, ±sericite,
±fuchsite. Silicification is strong and pervasive throughout the zone. Sericite is weak and
occurs as disseminated flakes. Pervasive potassic alteration and disseminated fuchsite
appear locally. Less well-developed external alteration is also documented on both side
of the zone.
7.3.4 Renard Zone

The Renard Zone is the northernmost and thickest mineralized lens. It is 200 m thick,
locally up to 250 m, and hosted in heavily silicified sediments (mainly wacke). A sheared
phlogopite zone cuts across the unit and is subparallel to the footwall. The footwall is
characterized by progressively less silicification, finally grading into fresher wackes. In a
few holes, a gabbroic unit acts as the footwall. The hanging wall is characterized by a
halo, 10 to 20 m wide, of hematization and/or potassic alteration and by tectonic breccia.
SW-NE faults obliquely cut across the zone at a low angle. The zone remains open in all
directions.
Throughout the Renard Zone, silicification is mainly strong and pervasive. Sericite
appears to be mainly associated with shears. Potassic alteration or hematization is
locally present in the southwestern part of the zone, mainly pervasive or associated with
fractures. Less well-developed external alteration is also documented on both side of the
zone.
8. DEPOSIT TYPES
The gold mineralization on the Project is hosted in sedimentary rocks of the Caopatina
Formation. No major deposits in the Abitibi are known to be hosted in such successor
sedimentary basins, making Nelligan a rare and atypical deposit.
The main alteration types on the Project are silicification, carbonatization, potassic-
alteration, and occasionally albitization and hematization. The best gold intervals
correspond to intense, pervasive silicification that locally obliterates the protolith. Quartz-
carbonate veins are rare and weakly auriferous (< 1 g/t Au).
Deformation is mainly ductile, marked by a variety of schists and mylonites.
Conglomerate clasts are strongly flattened and stretched, and when present, the quartz-
carbonate veins are sheared and folded. The timing of gold mineralization is not fully
constrained but appears to be syn- or late-deformation due to the gold-bearing silica
alteration overprint and sealed ductile fabric.
The mineralized zones are located at the boundary between the upper greenschist and
amphibolite facies and may have formed relatively deep in the crust if they are
synchronous to metamorphism. The zones are also adjacent to first-order, probably
deep-seated, crustal faults (e.g., Guercheville Fault) and proximal to syn-orogenic
intrusions (i.e., Hazeur Pluton and Lac Surprise Batholith).
8.1 Orogenic Deposits

Figure 8.1 presents the different types of gold deposits and the inferred deposit clan
relative to their depth of formation. Thirteen (13) globally significant types of gold deposits
have been recognized, each with its own well-defined characteristics and environment
of formation. As proposed by Robert et al. (1997) and Poulsen et al. (2000), many of
these gold deposit types can be grouped into families of deposits that either formed by
related processes or that are distinct products of large-scale hydrothermal systems.
Epigenetic gold deposits in metamorphic terranes, particularly Late Archean greenstone
belts and Paleoproterozoic fold belts, formed synchronously with late stages of orogeny
and are classified as orogenic gold deposits, which may be subdivided into epizonal,
mesozonal, and hypozonal subtypes based on pressure-temperature conditions of ore
formation (Goldfarb et al. 2005).
The regional geology and structural context at the Project fit with greenstone-hosted gold
deposit classification (or Greenstone Vein and Slate Belt Clans) of Poulsen et al. (2000).
More specifically, the pervasive alteration and the replacement and disseminated
mineralization (rather than mineralized veins) observed on the Project are more typical
of the deeper, ductile environments of orogenic deposits (Goldfarb and al., 2005).
The local occurrences of chalcopyrite and molybdenite in the Project’s mineralized zones
also suggest an input of a magmatic fluid. On a regional scale, there is a spatial
association between gold ores and plutons. The Hazeur syn-orogenic pluton is located
2.5 km north of the Nelligan gold zones. On the Property, there is a kilometre-scale oval
magnetic low less than 1 km east of the mineralized zones (see Figure 7.3). This
geophysical anomaly may correspond to a buried pluton. These plutons may have acted
as a heat source and been responsible for large-scale fluid circulation and convection.
Sedimentary beds could have acted as permeable units that trapped gold-bearing fluids.
Considering these facts, the Nelligan deposit may share some characteristics with the
Intrusion-related Clan classification, more specifically, non-carbonate stockwork-
disseminated deposits. The potassic metasomatism (sericite, biotite and K-feldspar)
observed in every mineralized zone on the Project is a common feature of this type of
deposit (Poulsen et al., 2000).
Note the logarithmic depth scale. Modified from Poulsen et al., 2000.
Figure 8.1 – Inferred crustal levels of gold deposition showing different types of
gold deposits and their inferred deposit clan
9. EXPLORATION
This item presents the exploration programs completed by IAMGOLD from 2017 to 2019.
Previous exploration work programs are summarized in Item 6.
9.1 Thin Section Petrography

In 2017, COREM was mandated to complete a petrographic description of 20 samples
from the Project. Each sample was chosen by IAMGOLD to provide a better
understanding of the Project’s mineralization and alteration. Mineral identification was
performed on polished thin sections of those samples using transmitted and polarizing
light and using reflected light for oxides, sulphides and gold. Gold grains were analyzed
with a scanning electron microscope. Modal analysis was also performed.
The main results of this study are the following:
 Gold occurs as very fine grains, usually between <10 to 40 µm, with some traces
of silver, and locally as electrum;
 The reddish colour (alteration) documented on the core appears to be mostly
related to potassic alteration rather than hematite alteration as described in the
field; and
 The whitish to beige colour (alteration) on the core correlates with significant
amounts of carbonate (dolomite) rather than albitization as described in the field.
Host rocks are strongly altered sedimentary rocks. Locally, intrusive rock textures were
suspected but could not be confirmed at this stage.
9.2 UAV Magnetic Survey

Stratus Aeronautics performed a magnetic survey from September 29 to October 3,
2018, by Unmanned Aerial Survey (“UAV”). The UAV survey was part of a research
project supported by IAMGOLD in partnership with the École de Technologie Supérieure
and the Natural Sciences and Engineering Research Council of Canada (“NSERC”). The
results yielded a response for the folded iron formations. A contour map of the magnetism
survey on the Nelligan Project was produced using the survey results (IAMGOLD,
2018c).
9.3 Mapping Programs

In August 2018, a mapping program was completed over the two southernmost claims.
Ten (10) grab samples were taken from laminated mudrock units but did not return
significant gold values (IAMGOLD, 2018c).
In August 2019, a mapping program targeted the Nelligan, Émile and Miron claim blocks
on the Project. A total of 323 outcrops were found and 86 grab samples collected. On
the Émile claim block, several outcrops exposed a folded iron formation consistent with
the magnetic high documented by the UAV survey. Resuls are still being compiled and
integrated in the Project scale compilation. Faults on the Miron and Nelligan claim blocks
confirmed the interpretation based on the VTEM survey (IAMGOLD, 2019).
9.4 Soil sampling program
A soil sampling program began on August 15, 2019. Lines were established over the
Émile and Nelligan claim blocks. Lines on the Miron claim block were initially planned
but was postponed to a future soil sampling program (Figure 9.1).
In September 2019, the survey was completed and 526 soil samples were collected on
both the Émile and Nelligan claim blocks. Results and interpretation were still pending at
the time of the report filling.
Modified from IAMGOLD, 2019
Figure 9.1 – Soil sampling lines for the 2019 soil sampling program on the Nelligan
Project
10. DRILLING
This item presents the drilling programs completed by IAMGOLD from 2017 to 2019.
Previous drilling programs on the Project are summarized in Item 6.
10.1 Drilling Methodology

The 2017, 2018 and 2019 drilling programs were performed by Chibougamau Diamond
Drilling Ltd based in Chibougamau, Québec. The drilling was conducted with NQ caliber
(47.6 mm core diameter) using a conventional surface drill rig according to the
methodology described below.
A handheld Garmin GPSMAP 62s is used to locate the planned drill holes. Once the drill
rig is lined up using a compass on the planned location, the hole’s starting dip is
measured using a clinometer. Subsequent to completion, all collars are surveyed by Paul
Roy, Land Surveyor, a.t.c. using a DGPS (GNSS Leica GS15). The casings are left
intact, covered with a steel cap and a steel marker with the collar identification.
The downhole dip and azimuth are surveyed using a Reflex EZ-Trac unit. Reflex surveys
start 15 m below the end of the casing depth, and the following single-shot readings are
taken every 30 m until the hole is completed. When the hole has reached its targeted
depth, a downhole survey is completed using the multi-shot mode every 3 m. The
instrument is handled by the drilling contractors and the survey information is then
electronically transferred via a USB drive to the Gems Logger database by a member of
the IAMGOLD team. Once a day, an IAMGOLD technician transports the core boxes to
the logging facility where the boxes are opened and cleaned. The hole length is checked
(quality control) and the core is oriented.
Magnetic susceptibility readings, using a SM-30 meter (only in 2018), along with core
recovery and RQD (all years), are measured and recorded for every 3-metre drill run in
the GEMS logger database. A geological description of the core is completed (lithologies,
major structures, alteration) and/or supervised by a registered geologist or engineer.
Photographs of the dry and wet core are taken once the geologist has laid out the
samples and inserted the sample tags. Those photographs are then archived on
IAMGOLD’s server.
IAMGOLD’s sampling procedure allows for a sample length of 0.5 to 1.5 m, with
exceptions being made up to 3.0 m when core recovery is below 60%. The lithological
and structural contacts are used as sampling boundaries. The core of each selected
interval is sawn in half by an IAMGOLD technician using a typical table-feed circular rock
saw. The top half is placed in a numbered plastic bag along with a corresponding ID tag
for shipment to the laboratory. The core is sawed slightly to one side of the orientation
reference line to preserve it for future studies. If the orientation line cannot be continued
through the run, the geologist draws a cut line (dashed line) on affected pieces of core
so representative samples can be collected. The bottom half with the orientation line is
retained as a witness sample and returned to the core box. A tag bearing the same
sample number is stapled in the box, at the end of each sampled interval.
At the end of each drilling program, the core is palleted and moved from the
Chibougamau logging and core storage facilities to the IAMGOLD’s storage facility in
Rouyn-Noranda (Destor) where it is stored in a secure fenced area.
10.1.1 Downhole core orientation survey
The core from the Project is oriented. The drillers mark the core at the end of each run
using a Reflex ACT III electronic orientation tool. Before the core is removed from the
core spring and then the core tube, the drillers use the tool to orient and trace a short
line, at the end of the drill run, representing the bottom of the hole. This line corresponds
to the in-situ underside of the core.
Once the core is received at the logging facility, each piece of core is replaced in its
original position. The technician continues the driller’s short line with a grease pencil
along the whole run. For drilling runs with poor recovery (faults, broken core), the
orientation line is compared to the line of the previous run. Arrows pointing down-hole
are marked on the orientation line of each piece of core.
Accurate beta angle measurements are made using specially constructed circular
protractors or, more simply, a flexible wrap-around protractor printed on a transparent
film. Both angles (alpha and beta) are then entered into Gems Logger, along with the
hole orientation survey data. The orientations can then be determined using
stereographic plotting software.
10.1.2 Core recovery and RQD measurements

Core recovery and rock quality designation (“RQD”) measurements for each run are
recorded in the Gems Logger database.
Core recovery is calculated by measuring borehole core recovery in percentage over
each 3-m drilling run.
RQD is a measure of the degree of naturally induced jointing or fracture in a rock mass,
measured as a percentage of the drill core in lengths of 10 cm or more for each 3-m drill
run.
The Project has some fractured and heavily weathered areas that are characterized by
poor core recovery and low RQD. Such areas can locally reach core lengths of 6 m and
may include mineralized intervals. IAMGOLD worked closely with the drilling contractor
to try different drilling fluids and mud suppliers, and recoveries have improved.
10.2 Recent Drilling Programs

The 2017 to 2019 drilling programs concentrated on testing geophysical anomalies,
testing geological and structural targets, and defining gold mineralized zones in the first
600 m from surface (Figure 10.1).
A total of 99 holes were completed for a total of 38,559 m, Table 10.1 presents the
breakdown by year.
Table 10.2 presents the significant results of these programs.
Figure 10.1 – Drill hole locations for the 2017, 2018 and 2019 drilling programs
Table 10.1 – Drilling summary

Year DDH Metres
2017 17 7,669
2018 32 13,362
2019 50 17,528
Total 99 38,559
Table 10.2 – Significant results of the drilling programs
Hole length Grade Au

Hole Number From (m) To (m) Interval (m) Zone
(m) (g/t)
NE-17-62 525 369.65 384 14.35 2.07 Renard

including 370.5 382.5 12 2.38
including 381 382.5 1.5 12.3
399 405 6 0.87 Renard
423 457.8 34.8 2.01 Renard
including 424.25 445 20.75 2.88
including 433.1 437.6 4.5 7.66
508 510 2 2.25
NE-17-63 369 97.5 111 13.5 1.68 Renard
including 100.5 106.6 6.1 2.58
(m) (g/t)
135 153 18 0.92 Renard

including 139.5 141 1.5 2.43
162 172.5 10.5 1.33 Renard
including 162 163.5 1.5 3.23
including 166.5 169.5 3 1.95
184.5 189 4.5 1.31 Renard
300 303 3 1.42 Renard
NE-17-65 363 63 69 6 0.88 36
147.6 159 11.4 0.66 Renard
171 180 9 0.91 Renard
195 250.5 55.5 1.16 Renard
including 201 208.5 7.5 2.62
including 217.5 225 7.5 1.7
including 229.5 232.5 3 2.25
including 235.5 238.5 3 1.47
including 244.5 247.5 3 1.7
267 268.5 1.5 2.53 Renard
273 276 3 1.35 Renard
NE-18-69 466 305.2 312.5 7.3 6.84 Renard
including 308.2 309.7 1.5 29.3
318.4 375 56.6 1.81 Renard
including 318.4 349.2 30.8 2.66
including 326.9 328.4 1.5 15.45
including 344.7 346.2 1.5 6.08
385.5 396 10.5 0.54 Renard
409.5 435.5 26 0.65 Renard
NE-18-73 297 37.5 48.22 10.72 1.31 Renard
including 37.5 40.5 3 2.85
57.22 68.32 11.1 0.79 Renard
144 145.5 1.5 14.9 Renard
153.37 181.5 28.13 1.4 Renard
including 153.37 157.13 3.76 4.65
including 179.27 181.5 2.23 3.82
213.87 223.48 9.61 1.17 Renard
including 220.57 223.48 2.91 2.42
235.22 267.5 32.28 0.89 Renard
including 241.22 244.8 3.58 1.8
including 250.2 253.2 3 2.33
276.5 283.15 6.65 1.24 Renard
NE-18-75 498 105.35 111.73 6.38 0.86 36
139.64 149.1 9.46 0.65 36
including 147.9 149.1 1.2 2.53
(m) (g/t)
233 256.25 23.25 1.51 Renard

including 234.5 250.45 15.95 1.81
296.9 320 23.1 2.59 Renard
including 297.9 299.9 2 5.91
including 309.7 310.7 1 15.65
326.65 348.75 22.1 2.08 Renard
including 341.3 343.95 2.65 11.53
355.75 375.8 20.05 1.09 Renard
395.75 462 66.25 1.18 Renard
including 398.25 399 0.75 17.05
including 444 445.5 1.5 8.42
NE-18-78 339 51 59.07 8.07 0.67 Renard
95.75 106.1 10.35 1.23 Renard
129 153 24 0.96 Renard
including 135.5 147 11.5 1.3
165 199.95 34.95 0.84 Renard
including 174 175.5 1.5 1.81
including 181.15 199.95 18.8 1.12
235.85 300.81 64.96 0.82 Renard
including 243.7 274.56 30.86 1.01
including 283.08 287.34 4.26 1.14
including 299.36 300.81 1.45 2.77
326.6 339 12.4 0.53 Renard
NE-18-91 381 95.5 117.5 22 1.43 Renard
including 100.6 106.55 5.95 2.9
126.3 159.2 32.9 1.28 Renard
including 132 136.5 4.5 3.29
167 178.3 11.3 0.71 Renard
182 197.5 15.5 0.88 Renard
including 189 192 3 2.13
214 271.5 57.5 1.87 Renard
including 232.47 245.18 12.71 3.98
including 265 265.5 0.5 33.2
352.5 367.5 15 0.56 Renard
NE-18-95 630 51 59.8 8.8 0.76 36
183.6 237.3 53.7 0.97 Renard
including 222 237.3 15.3 1.55
250.2 265 14.8 1.63 Renard
including 251.6 256 4.4 2.34
including 257.9 261 3.1 3.09
378.1 420.2 42.1 3.59 Renard
including 378.1 379.5 1.4 14.25
(m) (g/t)
including 399.5 402.5 3 12.8

441 450.9 9.9 1.31 Renard
495.5 504.5 9 1.23 Renard
510.5 514.5 4 3.07 Renard
522 538.5 16.5 1.09 Renard
NE-19-102 375 87.12 96.31 9.19 0.92 Renard
including 87.12 91.5 4.38 1.34
116.42 153.51 37.09 1.81 Renard
including 116.42 123.17 6.75 2.82
including 126.91 129.92 3.01 3.8
including 141.69 151.5 9.81 2.73
164.83 179.46 14.63 0.58 Renard
192.3 200.2 7.9 1.05 Renard
223.4 232 8.6 0.61 Renard
NE-19-114 552 128.64 143.55 14.91 0.56 Renard
238 254.7 16.7 4.04 Renard
including 246 253.73 7.73 7.02
including 247 248 1 38.5
281.25 309.67 28.42 2.11 Renard
including 302.8 307.8 5 7.05
326.15 372 45.85 1.04 Renard
including 332.53 336.2 3.67 3.85
427.5 436.5 9 1.55 Renard
507.7 530.2 22.5 1.04 Renard
NE-19-118 372 57 59.1 2.1 2.73 Renard
120 166.8 46.8 1.59 Renard
including 138.83 145.5 6.67 5.96
202 228.9 26.9 1.16 Renard
including 208.62 215 6.38 2.5
268.77 294.5 25.73 1.08 Renard
including 291.5 294.5 3 3.57
306.5 308 1.5 6.84 Renard
NE-19-144 450 69 75 6 0.93 36
105 110.35 5.35 1.5 Renard
142 158.5 16.5 1.92 Renard
189 204 15 1.39 Renard
211.5 249 37.5 2 Renard
including 223.5 228 4.5 9.49
including 223.5 225 1.5 20.9
274 283 9 0.74 Renard
295.5 328.5 33 0.68 Renard
373.5 397.65 24.15 0.58 Renard
(m) (g/t)
421.5 423 1.5 4.27 Renard

NE-19-145 522 109.5 118.5 9 1.79 36
127.5 131.12 3.62 1.73 36
243.99 294.22 50.23 1.82 Renard
including 251.84 258.4 6.56 2.48
including 272.65 273.52 0.87 20.5
including 276.5 287.13 10.63 2.93
314.8 332.8 18 1.01 Renard
including 320.8 322.3 1.5 5.4
410.8 432 21.2 0.66 Renard
NE-19-146 621 72.85 77.35 4.5 1.3 36
335.8 351.97 16.17 0.95 Renard
373.8 404.4 30.6 2.87 Renard
including 382.2 383.7 1.5 24.4
413.5 435.7 22.2 0.69 Renard
449 481.4 32.4 0.93 Renard
including 449 461.9 12.9 1.5
524.35 539.35 15 1.46 Renard
548.05 573.5 25.45 0.76 Renard
including 548.05 558.65 10.6 1.07
NE-19-149 342 94.8 109.7 14.9 1.39 Renard
117 134.25 17.25 5.3 Renard
143.6 174.75 31.15 1.03 Renard
including 143.6 144.9 1.3 7.38
186.8 209.2 22.4 0.75 Renard
10.2.1 2017 Drilling Program

In 2017, the program tested the extensions of the gold zones intersected in 2016 (Renard
Zone), geophysical IP anomalies (follow-up on the 2016 IP survey by TMC Geophysics),
and structural and geological targets. A general objective was to improve the general
understanding of the geological setting.
Six (6) holes (NE-17-51 to NE-17-56, NE-17-62, NE-17-63, NE-17-65 and NE-17-66)
were drilled in the Renard Zone for a total of 4,488 m. The 2017 program increased the
volume of the Renard Zone, which remained open in all directions. Some holes also
intersected and increased the volume of the Dan, Liam and 36 zones (Figure 10.1).

In 2018, the objectives were to define mineralized zones and follow up on the 2017
program to confirm the presence of mineralization in the four known zones (Renard, Dan,
Liam and 36). Step-out drilling was done in the 36 and Renard zones.
Thirty-two (32) holes were drilled (13,362 m) (Figure 10.1), including one HQ caliber hole
(63.5 mm core diameter) to see if core recovery increases by using a bigger drilling
diameter. Twenty-nine (29) of the holes (12,477 m) were drilled on the Renard Zone. All
holes intersected significant gold values, either confirming or extending the interpreted
zone (Table 10.2). At the end of the 2018 program, the Renard Zone remained open in
every direction and Zone 36 was extended.

In 2019, the objectives were mainly to test the western and depth extensions of the
Renard Zone and to confirm the presence of mineralization.
Fifty (50) holes were drilled for 17,528 m (Figure 10.1)
The 2019 drilling program confirmed the extension and continuity of mineralization in the
Renard and 36 zones (Table 10.2). The zones remained open in all directions.
11. SAMPLE PREPARATION, ANALYSES AND SECURITY
The following item describes the sample preparation, analysis and security procedures
for the drilling results included in the current resource estimate.
The Project is characterized by three periods of data acquisition:
1. Historical: before May 10, 2012;

2. Vanstar: from May 10, 2012 to May 26, 2014; and
3. IAMGOLD: since January 28, 2015.
Overall, the historical period represents very little data, with 12 drill holes and 909
samples. InnovExplo recovered the assay certificates for one hole (95-19; Chainey,
1996a), but could not find any documentation confirming sampling procedures for the
other holes or whether a QA/QC program was in place at the time. The issuers have not
performed re-sampling or quality control checks on the historical holes. For these
reasons, all 11 holes lacking certificates of analysis were discarded from the 2019 MRE
database.
Although Vanstar increased the exploration and drilling effort on the Project, the most
intensive period of data acquisition was the recent period since IAMGOLD’s involvement.
This item focuses on the core handling, sampling, security, laboratory preparation and
assaying aspects during IAMGOLD’s period of data acquisition, and on the QA/QC
results obtained during both the Vanstar and IAMGOLD periods.
11.1 Core Handling, Sampling and Security

This description applies only to the IAMGOLD period for which InnovExplo had access
to detailed procedures.
Drill core is placed into wooden core boxes at the drill site with the end of each drill run
marked with a small wooden block displaying the depth of the hole. The boxes are
labelled and strapped at the drill site. An IAMGOLD technician brings the boxes to the
logging facility. Drill core is logged and sampled by or under the supervision of registered
professionals (geologists and engineers, or geologist-in-trainings and junior engineers
under the supervision of a professional).
Sample length is allowed to range from 0.5 to 1.5 m, and samples must not cross
geological contacts. Exceptionally, for intervals with poor recovery rates, the sample
length can go up to 3.0 m.
Using a circular saw with a diamond blade, the core is sawn in half lengthwise along the
dashed line drawn by the geologist. The dashed line is drawn beside the orientation in
order to preserve it. The top half is placed in a numbered plastic bag along with the
corresponding numbered tag, for shipment to the laboratory. A tag bearing the same
sample number is stapled in the box at the end of each sampled interval for future
reference.
Individual sample bags are placed in rice or jute bags (maximum of 4 samples per bag)
along with the list of samples included. Every bag is sealed. The bag number is written
on the tape or the string used to close each bag. A line is then traced with an indelible
marker on the knot and the bag to prevent non-protocol handling or falsification/alteration
of the samples. If such actions are suspected, the laboratory will communicate with
IAMGOLD.
Samples are transported by a bus service (Autobus Maheux) to the ALS laboratories in
Val-d’Or (“ALS”).
11.2 Laboratory Accreditation and Certification

This description applies only to the IAMGOLD period for which InnovExplo had access
to detailed procedures.
The International Organization for Standardization (“ISO”) and the International
Electrotechnical Commission (“IEC”) form the specialized system for worldwide
standardization. ISO/IEC 17025 General Requirements for the Competence of Testing
and Calibration Laboratories sets out the criteria for laboratories wishing to demonstrate
that they are technically competent, operating an effective quality system, and able to
generate technically valid calibration and test results. The standard forms the basis for
the accreditation of competence of laboratories by accreditation bodies. ISO 9001
applies to management support, procedures, internal audits and corrective actions. It
provides a framework for existing quality functions and procedures.
Since the IAMGOLD period, samples from the Project two (2) laboratories were to
prepare and assay the Project samples. AGAT Laboratories in Val-d’Or, Québec, was
used from January 2015 until March 2016 and ALS in Val-d’Or, Québec was used from
March 2016 to July 2019. Both are commercial laboratories independent of IAMGOLD
with no interests in the Nelligan Project. Both laboratories received ISO/IEC 17025
accreditation through the Standards Council of Canada (“SCC”).
11.3 Laboratory Preparation and Assays

This description applies to the IAMGOLD period, which was the only period for which
InnovExplo had access to detailed procedures.
 Samples are received at the ALS facility where they are sorted, barcoded and
logged into the ALS LIMS program;
 Samples are dried and weighed (WEI-21);
 Samples are crushed to +90% passing 2 mm (CRU-32);
 The crushed sample is split to 1,000 g with a riffle splitter (SPL-21);
 The sub-sample is then pulverized to 95% passing a 106 μm mesh (PUL-35a);
 A 50-g pulp aliquot is analyzed by fire assay (“FA”) with atomic absorption (“AA”)
(Au-AA24);
 When assay results are higher than 5 g/t Au, a second 50-g pulp aliquot is re-
assayed by FA with gravimetric finish (Au-GRA22);
 When assay results are higher than 10 g/t Au, metallic sieve analysis is
completed from the 1 kg split or remaining reject and a new pulp is obtained and
screen at 106 microns;
 If visible gold is observed during core logging, the sample is directly sent for
metallic sieve. In that case, the entire sample is pulverized and assayed (Au-
SCR24);
 Assay results are provided on Excel spreadsheets. All the results presented in
the database come from the first analysis, with predominance of the metallic sieve
value, then the gravimetric value when present.
11.4 Quality Assurance and Quality Control (Vanstar period)

For the Vanstar period, the insertion rate of control samples was extrapolated from the
drill hole database because InnovExplo could not obtain details of the quality control
procedures used at that time. Protocols included the insertion of blanks and standards
(certified reference materials or “CRMs”) and the reanalysis of coarse reject as pulp
duplicates. About 4% of the samples were control samples included in the sampling and
assaying process:
 An average of 2.5 blanks were inserted every 100 samples;
 An average of 1.3 standards were inserted every 100 samples; and
 8% of the samples were re-assayed (pulp duplicates).
During this period, 2,944 samples, including 116 QA/QC samples, were submitted to the
laboratories. The discussion below details the QA/QC results.
11.4.1 Certified reference materials (standards)

Four (4) CRMs were used to monitor the assaying results during the Vanstar period.
According to information in the assay results database, the CRMs appear to have been
randomly selected and inserted systematically into the sampling and assaying process.
The purpose of standards is to monitor accuracy and detect assay problems with specific
sample batches and long-term biases in the overall dataset.
Forty-one (41) standards were inserted into sample batches and sent to the laboratories
during the Vanstar period. Table 11.1 shows the details for each CRM.
Although the insertion rates are low according to best practices, all results for the
standards fall within three standard deviations (±3SD) of the target values (Rafini, 2013).
The standards for the Project support the validity and reliability of the Vanstar data.
Table 11.1 – Results of standards from the Vanstar period
CRM %
Number Average Accuracy Precision Gross
CRM Lab. value Outliers Passing
inserted (g/t Au) % % outliers
(g/t Au) QC
Lab.
SE58 0.607 10 0.597 -1.7 1.7 0 0 100.0
Expert
Lab.
SG40 0.976 9 0.987 1.1 1.4 0 0 100.0
Expert
Lab.
SP37 18.14 14 18.105 -0.2 1.2 0 0 100.0
Expert
Lab.
SQ36 30.04 8 29.939 -0.3 1.2 0 0 100.0
Expert
TOTAL 41 0 0 100.0%
11.4.2 Blank samples
During the Vanstar period, blanks were made from an unknown material. Seventy-five
(75) blanks were inserted in the sampling and assaying process to monitor whether
contamination or sample cross-contamination had occurred during the process. Results
are compiled in Figure 11.1. The most common industry standards for the exploration
stages are thresholds of either 5 or 10 times the detection limit (Rafini, 2013). The fire
assay detection limit at Laboratoire Expert Inc. (“Lab Expert”) was 0.05 g/t Au.
No blanks used during the Vanstar period exceeded the “5 times” threshold limit (Figure
11.1).
The use of blanks was appropriate to monitor potential contamination during the Project’s
drilling programs. The blanks for the Project support the validity and reliability of the
Vanstar data.
Figure 11.1 – Results of blanks from the Vanstar period (n=75)
11.4.3 Duplicates
Duplicates are used to check the representativeness of the results for a given population
and to monitor precision during the preparation and analysis process. Sixty (60) pulp
duplicates were analyzed by Lab Expert during the Vanstar period. The Vanstar QA/QC
program did not include field or coarse duplicates.
Pulp duplicates are used to monitor proper preparation procedures during pulverization.
By measuring the precision of pulp duplicates, the incremental loss of precision can be
determined for the pulverization stage of the process, thus indicating whether two
subsamples taken after pulverizing is sufficiently representative for the given pulverized
particle size.
The pulp duplicates consist of second splits of the sample prior to the pulverization and
homogenization. Both original and duplicate samples are assayed according to regular
sample procedures.
During the Vanstar period, 234 duplicate pulps were assayed. Sixty (60) pairs of samples
returned results greater or equal to 0.1 g/t Au. A study of these 60 pairs indicates a good
reproducibility of gold values for all ranges of values within ±10 % of the regression line
(Figure 11.2).
The duplicates for the Project support the validity and reliability of the Vanstar data.
Figure 11.2 – Results of pulp duplicates (>0.1 g/t) from the Vanstar period
11.5 Quality Assurance and Quality Control (IAMGOLD period)

QA/QC protocols have been followed by IAMGOLD since their first involvement in the
Project and has included the insertion of blanks, standards and duplicates in the flow
stream of core samples, accounting for a minimum of 5%. The protocols also include
check assays at a secondary laboratory. During the IAMGOLD period, the overall
insertion rate was 13%, according to the following protocol:
 One (1) blank at the start and end of every sample batch, and every 25 samples;
 One (1) standard every 25 samples;
 One (1) coarse duplicate every 50 samples, after the crushing and splitting step;
and
 One (1) pulp duplicate every 50 samples, after the final pulverization step.
Both laboratories ran duplicates, standards and field blanks as part of their internal
QA/QC programs.
A total of 30,442 samples, including 2,881 QA/QC samples, were submitted to the
laboratories during IAMGOLD’s period.
The discussion below details the results.
11.5.1 Certified reference materials (standards)

Sixteen (16) CRMs were used as standards during the IAMGOLD period. The CRMs
were randomly selected. A total of 1,334 standards were inserted for an average insertion
rate of 4.8% (Table 11.2). IAMGOLD’s definition of a quality control failure is when CRM
results are outside ±3SD.
Sixty-seven (67) CRM samples returned results above or below the ±3SD criterion.
Twelve (12) of these problematic samples had insufficient material (NSS) and could not
be re-assayed. Of the remaining 55 failures (as per IAMGOLD protocol), the project
manager decided to re-assay 12 batches that had significant gold values; the problematic
pulps were re-assayed along with 15 additional pulps before and after the sample
identification number sequence. Once the results of the re-assaying were received,
IAMGOLD staff determined that the original and the re-assay values were approximately
the same. As a result, the original data remained the reference value, and no re-assay
value was entered in the “Au final” column in the database.
In 2018, IAMGOLD switched from Rocklabs standards to OREAS standards to resolve
the NSS issue, with an average of 0.1% NSS since switching.
The standards for the Project support the validity and reliability of the IAMGOLD data.
Table 11.2 – Results of standards from the IAMGOLD period
CRM
Number Average Accuracy Precision Gross
CRM Laboratory value Outliers % passing QC
inserted (g/t Au) % % outliers
(g/t Au)
OxF125 AGAT 0.806 37 0.811 0.6 2.1 0 0 100.0

Oxi121 AGAT 1.834 6 1.757 -4.2 5.7 0 1 83.3
Oxi121 ALS 1.834 92 1.811 -1.3 2.4 0 3 (3 NSS) 96.7
SE68 ALS 0.599 51 0.598 -0.1 3.5 1 1 96.1
SF67 AGAT 0.835 42 0.838 0.3 2.7 0 1 97.6
SF67 ALS 0.835 63 0.813 0.6 2.4 2 2 (2 NSS) 93.7
SF85 ALS 0.848 27 0.826 -2.7 2.0 0 0 100.0
SH82 ALS 1.333 33 1.306 -2.0 4.3 0 1 97.0
OxF125* ALS 0.806 8 0.777 -3.6 2.8 0 0 100.0
SK78 AGAT 4.134 28 4.121 -0.3 2.2 0 0 100.0
SK78 ALS 4.134 83 4.090 -1.1 2.7 2 7 (6 NSS) 89.2
OREAS 215 ALS 3.54 132 3.497 -1.2 3.3 5 1 96.2
OREAS 217 ALS 0.338 304 0.336 -0.4 2.9 12 1 96.1
OREAS 220 ALS 0.866 246 0.863 -0.4 2.8 8 2 (1 NSS) 95.9
OREAS 221 ALS 1.062 175 1.073 1.1 2.9 4 1 97.1
OREAS 229 ALS 12.11 7 11.914 -1.6 9.2 0 0 100.0
95.0%
TOTAL 1334 34 21 (12 NSS)
95.9%
NSS: Not sufficient sample
11.5.2 Blank samples
During the IAMGOLD period, field blanks were made of barren rock (decorative quartz
pebbles). Each sample of the blank material was placed into a plastic sample bag and
given a sample identification number. Blanks were sent to both laboratories and went
through the same sample preparation and analytical procedures as the core samples.
A total of 1,423 blank samples (5% insertion rate; 1 in 20 samples) were inserted in the
batches analysed during the IAMGOLD period, and the results are compiled in Figure
11.3 and Figure 11.4. According to IAMGOLD’s quality control protocol, if any blank
yields a gold value above 10x the detection limit (0.02 ppm for AGAT and 0.05 ppm for
ALS), then the pulps for the five (5) samples before and after in the sample identification
number sequence are re-assayed. Once the re-assay results are received, IAMGOLD
staff checks whether the value of the blank is below 10x the detection limit and that the
samples results are approximately the same between the original data and the re-assay
data. If these conditions are met, the original data remains the reference value and no
re-assay value is entered in the “Au final” column in the database. If the blank fails but
no significant gold values are present in the original certificate, the project manager can
decide to treat it as an exception and not re-assay.
Seven (7) blanks exceeded the recommended threshold (5 at AGAT and 2 at ALS),
representing 0.5% of the failures for the IAMGOLD period.
The blanks for the Project support the validity and reliability of the IAMGOLD data.
Figure 11.3 – Results of blanks from the IAMGOLD period, from AGAT (n=122)
Figure 11.4 – Results of blanks from the IAMGOLD period, from ALS (n=1301)
11.5.3 Duplicates
During the IAMGOLD period, 2,396 duplicates were analyzed: 825 coarse duplicates and
1,571 pulp duplicates The IAMGOLD QA/QC program did not include field duplicates.
11.5.3.1 Coarse-reject duplicates

A total of 825 coarse duplicates were assayed (2.71% of the total samples assayed).
The insertion rate was 1 in 25 samples from 2015 to 2017, and 1 in 50 samples for the
2018 and 2019 programs.
Figure 11.5 plots 444 coarse duplicate pairs with gold values greater or equal to 0.1 g/t.
One pair was interpreted as an outlier and was removed (17.15 g/t Au, 24.0 g/t Au). The
results indicate a good reproducibility of gold values for all values within ±10% of the
regression line.
The coarse duplicates for the Project support the validity and reliability of the IAMGOLD
data.
Note: One pair was interpreted as an outlier and was removed (17.15 g/t Au, 24.0 g/t Au)
Figure 11.5 – Results of coarse duplicates (>0.1 g/t) from the IAMGOLD period
11.5.3.2 Pulp duplicates

During the IAMGOLD period, 1,571 pulp duplicates were assayed (5.16% of the assays).
The insertion rate was 1 in 10 samples from 2015 to 2017 and 1 in 50 samples for the
2018 and 2019 programs.
A total of 751 pulp duplicate pairs with gold values greater or equal to 0.1g/t were plotted
in Figure 11.6. Two (2) pairs, interpreted as gross outliers, were removed. The results
indicate a good reproducibility of gold values for all the range of values within ±10% of
the regression line.
The pulp duplicates for the Project support the validity and reliability of the IAMGOLD
data.
Figure 11.6 – Results of pulp duplicates (>0.1 g/t) from the IAMGOLD period
11.5.4 Check assays

During the IAMGOLD period, 1 in 20 samples (5%) were routinely selected and sent to
a secondary laboratory to assess the accuracy of the assays. The check-assay was a
pulp subsample. ALS acted as the umpire laboratory when AGAT was chosen as the
principal laboratory during the 2015 drilling program. Since 2016, AGAT has acted as
the umpire laboratory, with ALS as the principal laboratory.
For the 2015 program, 59 samples were sent to ALS as check assays (including
standards, blanks and duplicates). Fifty-five (55) results with gold greater or equal to
0.1 g/t are plotted in Figure 11.9 (the plot does not include 3 gross outliers with a
calculated difference of 300% or more between the duplicate and the original sample).
The results indicate an average reproducibility of gold values. The linear regression
equation falls above the +10% limit from the ideal (Y=X), and 41.8% of the data plots
outside this interval, which explains an R2 value of 0.846.
Figure 11.7 – Results of check assays (>0.1 g/t) from the IAMGOLD period, with
AGAT as the primary laboratory
Of the 1,128 check assays sent to AGAT as the umpire laboratory, 626 had gold values
greater or equal to 0.1 g/t and these are plotted in Figure 11.10 (the plot does not include
3 gross outliers with a calculated difference of 300% or more between the check assay
subsample and the original sample). The results indicate a good reproducibility of gold
values. The linear regression equation falls within the ±10% interval of the ideal (Y=X),
and 28.0% of the data plots outside this interval; the data is closely fitted to the regression
line (R2=0.9281).
The check assay results for the Project support the validity and reliability of the IAMGOLD
data.
Figure 11.8 – Results of check assays (>0.1 g/t) from the IAMGOLD period, with
ALS as the primary laboratory
11.6 Conclusions
InnovExplo is of the opinion that the sample preparation, security, analysis, and QA/QC
protocols used during the drilling programs on the Project follow generally accepted
industry standards, and that the data is valid and of sufficient quality for a mineral
resource estimation.
12. DATA VERIFICATION
This item covers InnovExplo’s verification of the diamond drill hole database used for the
2019 MRE (the “IAMGOLD database”).
All drill hole results from the Winter 2019 drilling program (the latest program completed
on the Project) were available for verification. The database close-out date for the
2019 MRE is July 23, 2019.
InnovExplo’s data verification included visits to the Project (including drill sites and the
core logging and storage facilities), as well as an independent review of the data for
selected drill holes (surveyor certificates, assay certificates, QA/QC program and results,
downhole surveys, lithologies, alteration and structures).
12.1 Historical work

Of the 12 historical drill holes, 11 were excluded from the 2019 MRE database. The
historical information used in this report was taken in part from reports produced before
the implementation of NI 43-101. Little information is available about sample preparation,
analytical or security procedures in the reviewed documents from the historical period.
InnovExplo assumes that exploration activities conducted by previous companies were
in accordance with prevailing industry standards at the time.
12.2 IAMGOLD database
12.2.1 Coordinate system

The coordinate system for the GEMS project is NAD83 UTM Zone 18.
12.2.2 Drill hole location

A total of 92 of the 140 holes have been professionally surveyed by Paul Roy, Land
Surveyor of Chibougamau. Some location errors were detected between the database
and the coordinates on the surveyor’s reports, and these were corrected. They were
likely the result of mistakes during automated data input. Post-input validation
procedures would help avoid this kind of error. Seven (7) casings were validated during
the site visit using a GPSMAP 76CSx (Figure 12.1). The differences between InnovExplo
measurements and those recorded in the IAMGOLD database are within the order of
precision of the instrument. The authors concluded that the collar locations are adequate
and reliable.
A) Photograph showing the GPSMAP 76CSx used to verify the location of the NE-16-49 drill collar during the site visit.
B) Photograph showing the measured azimuth, with a compass, at the collar of NE-16-49.
Figure 12.1 – Drill hole location validation (site visit, 2019)
12.2.3 Down-hole Survey

Downhole surveys were systematically conducted on the holes retained for the
2019 MRE database. The following methods and instruments were used for the surveys:
Acid, Pajari (historical period), Flexit (Vanstar period), single-shot (IAMGOLD period) and
multi-shot downhole surveys (IAMGOLD period since 2015). Down-hole survey
information was verified for all DDHs and minor issues were identified and corrected.
The survey data are considered valid and reliable.
12.2.4 Assays
InnovExplo was granted access to the original assay certificates (.csv and .pdf files) for
all holes drilled by Vanstar and IAMGOLD (2012 to 2019). For the historical period, the
assay certificates from only one (1) hole (95-19) were retrieved, the 11 remaining
historical holes were discarded.
The assay results in the database were compared to the original laboratory certificates.
The laboratory sends the results via e-mail and IAMGOLD’s protocol of electronically
transferring the emailed results into the database allows for immediate error detection
and prevents typing errors.
Minor errors of the type normally encountered in a project database were found and
corrected. The final database is considered to be of good overall quality. InnovExplo
considers the database for the Project to be valid and reliable.
12.3 Logging, Sampling and Assaying Procedures (IAMGOLD)

InnovExplo reviewed several sections of mineralized core while visiting the onsite core
logging and core storage facilities. All core boxes were labelled and properly stored
outside. Sample tags were still present in the boxes and it was possible to validate
sample numbers and to confirm the presence of mineralization in witness half-core
samples from the mineralized zones (Figure 12.2). InnovExplo is of the opinion that the
protocols in place are adequate.
A) Certified reference materials; B) Sample tags stapled in core boxes with length and depth of sample indicated; C)
Proper labelling of the drill core boxes; D) Core from the on-going drilling campaign stored outdoors at the
Chibougamau facility; E) Core reception and logging facility in Chibougamau.
Figure 12.2 – Core logging facilities at the Nelligan Project
12.4 Independent Resampling
InnovExplo selected a series of intervals from the 2018 drilling program for the
resampling. During the QPs site visit, quarter-splits of selected core intervals were sawed
by IAMGOLD personnel. InnovExplo bagged the samples and transported them to ALS
to be analyzed.
The resampling results indicate a good reproducibility of the original sample assay
results. InnovExplo believes the field duplicate results from the independent resampling
program are reliable and valid for a gold project.
Table 12.1 shows the resampling results for the seven (7) samples.
Figure 12.4 shows the regression plot of the seven (7) original-duplicate pairs.
Table 12.1 – Independent resampling

Original (IMG) Field Duplicate (IE) Δ
Sample Au Sample Au (AA26E) Au (GRA22) Au Zone
Number (ppm) Number (ppm) (ppm) (%)
IMGVD13236 15.65 W035451 14.25 15.85 1.28 Renard-HG
IMGVD13254 1.79 W035452 1.66 - -7.00 Renard-HG
IMGVD12220 2.40 W035453 1.5 - -37.50 Renard-HG
IMGVD12705 1.90 W035454 2.54 - 33.68 Liam-HG
IMGVD14508 1.60 W035455 2.07 - 24.70 36-C
IMGVD12611 0.33 W035456 2.02 - 504.79 Dan-N
IMGVD13338 2.04 W035457 1.81 - -11.27 Renard-HG
Figure 12.3 – Regression plot of the independent resampling results
12.5 Conclusion
InnovExplo’s data verification demonstrates that the data and protocols for the Project
are acceptable. InnovExplo considers the IAMGOLD database to be valid and of
sufficient quality for a mineral resource estimate.
13. MINERAL PROCESSING AND METALLURGICAL TESTING
In 2019, basic metallurgical, mineralogical and environmental testwork was carried out
on samples from the two main zones of the Project by SGS Minerals. Three (3)
composites were used: 2 from the Renard Zone and 1 from Zone 36.
Mineralogy testing included a characterization for screened metallic for Au and Ag,
sulphur, whole rock analysis (ICP method), and graphitic carbon. A gold deportment
study was also completed to provide information on gold distribution, grain size, and
metallic and mineral associations. Metallurgical testing included standard pre-robbing
tests (Whole + CIL), flotation followed by cyanidation of the tails (Flotation + CN), gravity
separation followed by gravity tailing cyanidation (Gravity + CN Gravity Tails), and whole-
ore cyanidation (Whole + CN). Environmental testing included acid-base accounting
(ABA).
The gold deportment study results showed that gold is primarily contained within pyrite.
For composite 1, 38.5% was locked in the mineral; for composite 2, 21.7%; and for
composite 3, 64%. The study also showed that composite 3, from Zone 36, contains finer
gold compared to the Renard Zone composites (Table 13.1).
Table 13.1 – Gold deportment study (Deshaies, 2019)

Minerals
Gold Number of Gold associated with
Sample Size range Average size Gold mineral
grade Association Gold distribution exposed and
ID (µm) (µm) abundance
(g/t Au) grains (%) locked Au-
minerals
Liberated 20 30.0 0.6 - 53.2 10.9
Altaite/Pyrite (41.9%),
Native Gold (~83%), Pyrite (40.2%),
Exposed 51 31.4 0.6 - 37.3 3.3 Calaverite (~13%), Dolomite (13.1%),
Comp 1 1.18 Electrum (~3%), Barite (3.5%), and
Locked 76 38.5 0.6 - 4.4 1.6 Pertzite, and Au-Ag- Tennantite/Pyrite,
Hg (~1%) FeAs/Altaite,
Sulphur/Pyrite (<1%)
147 100 3.5
Pyrite (45.0%),
Liberated 17 20.3 1.0 - 32.8 8.0 Silicates (19.4%),
Calcite (9.91%),
Exposed 49 58.0 0.6 - 7.9 2.3 Native Gold (~73%), Altaite/Silicates
Calaverite (~9%), (8.74%), Altaite/Pyrite
Locked 108 21.7 0.6 - 6.7 1.6 Pertzite (~8%), Au- (5.95%),
Comp 2 1.36 Te (~6%), Sulphur/Silicates
Sylvanite (2%), and (3.17%),
other gold Tennantite/Pyrite
minerals (~2%) (3.07%),
174 100 2.4
Altaite/Calcite
(2.14%), and other
gold minerals (<2%)
Pyrite (62.7%),
Liberated 5 18.1 1.1 - 28.8 8.0 Dolomite (24.5%),
Silicates/Pyrite
Exposed 26 18.2 0.8 - 4.1 2.1 (5.44%),
Native Gold (~75%),
Chalcopyrite/Pyrite
Au-Ag-Te (~11%),
Locked 104 63.7 0.6 - 6.6 1.5 (4.15%), and trace
Pertzite (~10%),
Comp 3 0.80 amounts (<2%), of
Calaverite (~2%), and
Silicates,
other gold minerals
Dolomite/Pyrite,
(~2%)
Rutile/Chalcopyrite/Py
135 100 1.8
rite, Rutile/ Iron
oxides/Pyrite,
Tennantale/Pyrite
Following this study, several scenarios were performed to try to improve the gold
recovery. The best results were obtained using the flotation scenario with a recovery of
about 94% of the sulphides and 84% of the gold in the concentrate with an average mass
pull of 17%. With 16% gold remaining in the flotation tails, it is necessary to also cyanide
the tails to verify the possibility of extracting more. Thus, by regrinding the concentrate
to 10 µm and separately leaching the concentrate and tails, it was possible to enhance
the gold recovery rate as shown in Table 13.2 (Deshaies, 2019).
Table 13.2 – Gold recovery rate according to the scenarios tested (Deshaies, 2019)
Au Recovery (%)
Whole+CIL Whole+CN Gravity+CN Gravity
Flotation+CN Whole+CN (53 µm)
Tests (53 µm) (75 µm) Tails (53 µm)
(tails 53 µm
+Conc10 µm) 500 ppm 500 ppm 1000 ppm 500 ppm 500 ppm 1000 ppm
Comp 1 90.4 80.7 81.7 83.5 79.8 85.3 80.5

Zone Renard
Comp 2 93.5 86.1 86.0 86.1 83.2 88.9 87.6
Zone 36W Comp 3 78.1 71.0 72.4 74.3 67.1 78.3 77.8
Combined with the gold deportment, results showed that to be able to access the gold,
which is very fine, and a significant percentage is contained in the minerals, it would be
necessary to proceed with an ultra-fine particle grinding which would be too expensive
to realize on the all-coming. The most economical alternative is to flotation the ore and
then to regrind the concentrate before leaching it (Deshaies, 2019).
Further metallurgical testing should be performed to clarify the recovery potential of the
Project and a diagnostic leach should also be completed on the CN tails. The
comminution tests should also be done. IAMGOLD’s metallurgist recommends a fixed
gold recovery at 92% (average of the Renard zone composites) until a more
representative metallurgical testing is completed. The metallurgist also recommends
using a milling operating cost value of 12 CAD/t, which would also include the tailing
management for annual tonnage ranging from 8 to 10 Mtpa.
14. MINERAL RESOURCE ESTIMATES
The 2019 Mineral Resource Estimate for the Nelligan Project (the “2019 MRE”) was
prepared by Vincent Nadeau-Benoit, P.Geo. and Alain Carrier, M.Sc., P.Geo., both of
InnovExplo, using all available information.
The main objective of the mandate assigned by IAMGOLD was to prepare the initial
compliant mineral resource estimate for the Project, including the Renard, Liam, Dan and
36 zones.
The mineral resources herein are not mineral reserves as they do not have demonstrated
economic viability. The effective date of this mineral resource estimate is
October 2, 2019.
14.1 Methodology
The 2019 MRE covers a strike length of 3.5 km and a width of approximately 1.5 km,
down to a vertical depth of 500 m below surface.
The model was prepared using LeapFrog Geo™ v.4.5 (“LeapFrog”) and GEOVIA GEMS
v.6.8 (“GEMS”). LeapFrog was used to model the mineralized zones and fault
wireframes. GEMS was used for the estimation, which consisted of 3D block modelling
and grade interpolation. Statistical studies, capping and variography were completed
using Snowden Supervisor v.8.9.0 (“Supervisor”) and Microsoft Excel.
The main steps in the methodology were as follows:
 Compile and validate the database for the diamond drill holes used in the mineral
resource estimate;
 3D modelling of the mineralized zones and the faults affecting density;
 Drill hole intercepts and composite generation for each mineralized zone;
 Basic statistics;
 Geostatistical analysis including variography;
 Block modelling and grade interpolation;
 Block model validation;
 Establish resource classification criteria and clipping areas to classify the mineral
resources;
 Assess the “reasonable prospect for economic extraction” and select the
appropriate cut-off grades; and
 Generate a mineral resource statement.
14.2 Drill Hole Database

The Nelligan database (in Microsoft Access Database format (*.accdb) but generated by
GEMS) was provided on July 23, 2019, which is the database close-out date and
includes all drill holes completed up to the end of the Winter 2019 drilling program. It
contains a total of 191 drilled surface holes. Of these 191 drill holes, 176 informed the
2019 MRE (the “resource database”; Figure 14.1).
Figure 14.1 – Plan view of the validated diamond drill holes used for the 2019 MRE
14.3 Geological Model
14.3.1 Fracture domains and faults

Following a review and analysis of surface geophysical data, structural drill hole data,
core recoveries and RQD, and a regional interpretation, InnovExplo identified six (6)
highly fractured domains within the boundaries of the 2019 MRE (Figure 14.2). They
were named Fault 1 to 6 and were modelled as 3D solids in Leapfrog.
Fault 1 and Fault 3 correlate with multiple brittle structures (core not recovered (CNR),
heavy fracturing, fault gouge) and intervals of low RQD (ranging from 0-20%) intersected
in-hole, and they were built are interpreted in 3D as internally continuous domains.
Fault 5 (in red, Figure 14.2), was interpreted by the QP and added to the model. Fault 5
represents a significant area of low RQD and thick intervals of CNR in eight (8)
contiguous holes. This fault is subparallel to the drilling sections.
Figure 14.2 – Fractured domains and fault model for the Nelligan Project
14.3.2 Mineralized Zones

The mineralized zone model comprises four (4) gold-bearing zones (Dan, Liam, 36 and
Renard) subdivided into eleven (11) domains for estimation purposes. The zones and
domains were interpreted directly in 3D on a hole-by-hole basis. IAMGOLD’s 2018
internal 3D model was used as a guideline to complete the current model.
Alteration seems to be the main control on gold mineralization. The modelled zones were
created according to alteration type (or assemblage) and intensity, and on gold grade
continuity within each zone. A minimum true thickness of 3.0 m was used.
Two distinct high-grade domains (Renard-HG inside Renard-1 and Liam-HG inside Liam)
were modelled to better constrain higher gold values.
Two surfaces were also created to define topography and bedrock. The topography
surface was created from CanVec data from Natural Resources Canada and refined with
professionally surveyed hole collars. The bedrock surface was generated using casing
depths. A waste solid was also created corresponding to the block model boundaries.
14.4 High-grade Capping

Basic univariate statistics were performed on the overall assay data and on datasets
grouped by individual domains (Table 14.1). The capping on raw assays consisted of a
single top cap of 30 g/t Au for the Renard-HG domain and 15 g/t Au for all other zones
and domains. The capping values were selected by combining the dataset analysis
(COV, decile analysis, metal content) with the probability plot, the log normal grade
distribution (Figure 14.3, Figure 14.4), and the proximity to Fault 1, Fault 3 and Fault 5.
A cap of 2.5 g/t Au was applied to some exceptional sample intervals characterized by
very poor recovery and sample lengths exceeding 2.0 m. These samples are found in
the highly fractured domains of Faults 1, 3 and 5. Drilling in those areas resulted in
frequent and significant intervals of poor unrecovered core, causing excessively long
sample lengths.
Table 14.1– Summary statistics for raw assays by zone
Number of Mean Standard

Zone Domains Max (Au g/t) COV
samples (Au g/t) deviation
Dan-Sud 151 16.80 0.59 1.58 2.70
Dan Dan-Central 310 22.50 0.93 2.08 2.24
Dan-Nord 820 8.70 0.42 0.94 2.26
Liam-HG 429 16.15 1.41 1.91 1.35
Liam Liam 924 8.91 0.25 0.57 2.23
Liam-Nord 375 8.06 0.32 0.71 2.20
36-Central 333 16.50 0.80 1.67 2.09
36
36-Nord 182 39.80 0.76 2.98 3.92
Renard-HG 5,755 79.40 1.02 2.56 2.51
Renard Renard-2 2,981 38.50 0.48 1.31 2.75
Renard-1 9,103 224.00 0.38 2.44 6.37
In the IAMGOLD database, 387 samples are from intervals with core recoveries below
60% (a value considered ‘unreliable’ to ‘unacceptable’ according to Annels and Dominy,
2003; Table 14.2) and 247 samples have a length exceeding 2.0 m.
In order to minimize the impact of these less reliable 634 samples in the 2019 MRE, an
aggressive capping value of 2.5 g/t Au was applied to minimize the possibility of over-
estimation on a local basis. Sixteen (16) of the 634 samples were capped at 2.5 g/t Au.
Figure 14.5 presents an example of a sample from an interval with low core recovery.
Table 14.3 presents the summary statistics for capped assays by zone.
Table 14.2 – Confidence rating of core recovery values (Annels and Dominy, 2003)
Core recovery (CR%) Rating Description
> 85% 4 High confidence
60-84% 3 Moderately reliable
30-59% 2 Unreliable
< 30% 1 Unacceptably low
Blockcode 132 Assay Count 9 103 Capping Value 15 Capped 2 COV 1.66
Decile Analysis Metal Content
100% 100%
90% 90%
80%
80%
70%
Contained Metal
70%
Cummulative metal
60%
50% 60%
40% 50%
Capped
30% 40%
Raw
20% 30%
10%
20%
0%
10%
90‐100
99‐100
0‐10
10‐20
20‐30
30‐40
40‐50
50‐60
60‐70
70‐80
80‐90
90‐91
91‐92
92‐93
93‐94
94‐95
95‐96
96‐97
97‐98
98‐99
0%
Decile 0% 2% 4% 6% 8% 10%
Upper Decile Number of samples
1000
Probability Plot Ln Histogram
400 120.00%
350
100.00%
100 300
80.00%
Frequency 250
Grade ‐ g/t
10 200 60.00%
150
40.00%
100
1 20.00%
50
0 0.00%
0.3
0.8
1.3
1.8
2.3
2.8
3.3
3.8
4.3
4.8
5.3
5.8
‐4.7
‐4.2
‐3.7
‐3.2
‐2.7
‐2.2
‐1.7
‐1.2
‐0.7
‐0.2
‐6
0
0.01 0.10 0.50 0.90 0.99 Classes
Probability
Figure 14.3 – Graphs supporting a capping value of 15 g/t Au for the Renard 1 domain
Blockcode 130 Assay Count 5 755 Capping Value 30 Capped 7 COV 2.03
Decile Analysis Metal Content
100% 100%
90% 90%
80%
80%
70%
Contained Metal
70%
Cummulative metal
60%
50% 60%
40% 50%
Capped
30% 40%
Raw
20% 30%
10%
20%
0%
90‐100 10%
99‐100
0‐10
10‐20
20‐30
30‐40
40‐50
50‐60
60‐70
70‐80
80‐90
90‐91
91‐92
92‐93
93‐94
94‐95
95‐96
96‐97
97‐98
98‐99
0%
Decile 0% 2% 4% 6% 8% 10%
Upper Decile Number of samples
1000
Probability Plot Ln Histogram
250 120.00%
100.00%
200
100
80.00%
150
Frequency
Grade ‐ g/t
10 60.00%
100
40.00%
1 50
20.00%
0 0.00%
0.3
0.8
1.3
1.8
2.3
2.8
3.3
3.8
4.3
4.8
5.3
5.8
‐4.7
‐4.2
‐3.7
‐3.2
‐2.7
‐2.2
‐1.7
‐1.2
‐0.7
‐0.2
‐6
0
0.01 0.10 0.50 0.90 0.99 Classes
Probability
Figure 14.4 – Graphs supporting a capping value of 30 g/t Au for the Renard HG domain
Table 14.3 – Summary statistics for capped assays per zone
Capping Number of Percent of Metal loss

Mean
Zone Domains value samples samples COV factor
(Au g/t)
(Au g/t) capped capped (%)
Dan Sud 15 1 0.66 0.57 2.55 1.05

Dan Dan Central 15 2 0.65 0.90 2.04 2.93
Dan Nord 15 0 0.00 0.42 2.26 0.00
Liam HG 15 1 0.23 1.41 1.34 0.16
Liam Liam 15 0 0.00 0.25 2.23 0.00
Liam Nord 15 0 0.00 0.32 2.2 0.00
36 Central 15 1 0.30 0.79 2.05 0.44
36
36 Nord 15 1 0.55 0.63 2.04 8.61
Renard HG 30 7 0.12 0.99 2.03 2.59
Renard Renard 2 15 4 0.13 0.46 2.04 2.78
Renard 1 15 2 0.02 0.36 1.66 7.23
Figure 14.5 – Example of sample length exceeding 1.5 m with low core recovery
14.5 Compositing
In order to minimize any bias introduced by variable sample lengths, the gold assays of
the DDH data were composited within each of the mineralized veins. The thickness of
the mineralized veins, the proposed block size, and the original sample length were taken
into consideration for the selected composite length, which was set at 3 m. All intervals
defining each of the mineralized domains were composited to 3-m equal lengths. A grade
of 0.00 g/t Au was assigned to missing sample intervals. A total of 9,870 composites
were generated within the mineralized domains.
Table 14.4 presents the summary statistics for the composites per zone.
Table 14.4 – Summary statistics for composites by zone
Number of Max Mean Standard

Zone Domains COV
samples (Au g/t) (Au g/t) deviation
Dan Sud 74 3.84 0.43 0.68 1.59

Dan Dan Central 114 8.25 0.82 1.18 1.45
Dan Nord 392 5.18 0.34 0.61 1.81
Liam HG 174 6.51 1.34 1.26 0.94
Liam Liam 409 4.06 0.23 0.36 1.52
Liam Nord 175 3.11 0.28 0.50 1.77
36 Central 135 6.62 0.73 0.97 1.32
36
36 Nord 81 4.14 0.54 0.69 1.27
Renard HG 2,621 19.83 0.96 1.41 1.47
Renard Renard 2 1,416 7.54 0.42 0.58 1.39
Renard 1 4,279 7.17 0.35 0.42 1.21
14.6 Bulk Density

Bulk densities are used to calculate tonnage from the estimated volumes in the resource-
grade block model.
Specific bulk gravity (“SG”) started being measured in 2018 on the Project (1,652
measurements). Eleven (11) holes drilled before 2018 also have SG measurements (209
measurements). IAMGOLD used standard water immersion methods on core samples.
Measurements were taken at least every 30 m or closer if there was a change in major
lithologies.
Table 14.5 provides a breakdown of SG measurements by zone.
Table 14.5 – Mean measured value for bulk specific gravity per domain
Number of
Zone Domain Mean (g/cm3)
samples
Outside zones 470 2.758
Dan Sud 14 2.763
Dan Dan Central 9 2.734
Dan Nord 3 2.501
Liam HG 26 2.749
Liam Liam 8 2.665
Liam Nord 14 2.734
36 Central 19 2.712
36
36 Nord 12 2.656
Renard HG 166 2.703
Renard Renard 2 599 2.733
Renard 1 521 2.733
Total 1,861 2.735
An average bulk density of 2.73 g/cm3 was selected based on the SG results and the
geological similarity between the zones and the domains. This value was applied to all
blocks except those for which more than 50% falls within the 3D solids of Fault 1, 3 and 5;
these highly fractured domains were assigned a bulk density of 2.20 g/cm3.
Overburden was attributed a bulk density of 2.00 g/cm3.
14.7 Block Model

A block model was established to cover the 2019 MRE area, including a buffer zone
sufficient to host an open pit. The 2019 MRE block model corresponds to a multi-folder
percent block model in GEMS and was rotated 25° to the west. All blocks with more than
0.01% of their volume falling within a selected solid were assigned the corresponding
solid block code in their respective folder. A percent block model was generated,
reflecting the proportion of every block inside each solid (i.e., individual mineralized
zones, dilution envelope, overburden, and waste).
The block model origin is the lower left corner. Block dimensions reflect the sizes of
mineralized zones and plausible mining methods. Table 14.6 provides the block model
properties.
Table 14.7 provides details about the naming convention for the corresponding GEMS
solids, as well as the rock codes and precedence assigned to each individual solid.
Table 14.6 – Block model properties
Properties X (Columns) Y (Rows) Z (Levels)
Origin coordinates (UTM NAD 83 Zone 18) 521,600 5,472,000 495
Number of blocks 400 250 69
Block size (m) 10 10 10
Block extent (m) 4,000 2,500 690
Rotation 25° to the west
Table 14.7 – Block model naming convention and rock codes

GEMS Triangulation Name
Workspace Description Rock code NAME1 Precedence

(Block NAME2 NAME3
Code)
Dan Sud 100 100 DAN_S 20190819 100
Dan Central 101 101 DAN_CENT 20190819 101
Dan Nord 102 102 DAN_N 20190819 102
Liam HG 110 110 LIAM_HG 20190819 110
Liam 111 111 LIAM 20190819 111
Mineralized
Liam Nord 112 112 LIAM_N 20190819 112
Domains
36 Central 120 120 36_CENT 20190819 120
36 Nord 121 121 36_N 20190819 121
Renard HG 130 130 RENARD 20190819 130
Renard 2 131 131 RENARDHG 20190819 131
Renard 1 132 132 RENARD2 20190819 132
Dilution Waste 999 Waste 20190819 999
Lithologies
Overburden OVB 6 OVB 20190819 6
14.8 Variography and Search Ellipsoids
14.8.1 Variography
Three-dimensional directional variography was carried out in Snowden Supervisor on
capped composites grouped as follows:
 DAN_ALL: all three (3) Dan domains;
 LIAM36: all three (3) Liam domains and the two (2) Zone 36 domains;
 RENARD2: the Renard 2 domain;
 RENARD1: the Renard 1 and Renard HG domains; and
 WAST_999: the dilution (the Waste domain).
Performed in connection with the geological knowledge of the deposit, the main steps in
the variography process are:
 Examine the strike, dip and dip plane of the mineralized zones to define the
direction and plunge of the best continuity in the mineralization;
 Estimate the nugget effect (C0) based on the downhole variogram;
 Model the major, semi-major and minor axes of continuity.
Table 14.8 documents the variogram model parameters of each domain group.
Figure 14.6 shows examples of the variography study for each domain group.
Table 14.8 – Variogram model parameters by domain group

Variogram Components
First Structure - Spherical Second Structure - Spherical
Dataset Nugget
Range Range
(C0) Sill Sill
X (m) Y (m) Z (m) X (m) Y (m) Z (m)
DAN_ALL 0.40 0.60 55 55 25 - - - -
LIAM36 0.40 0.60 70 45 20 - - - -
RENARD2 0.40 0.60 90 90 45 - - - -
RENARD1 0.40 0.07 80 47 58 0.46 140 120 70
WAST_999 0.40 0.60 55 55 25 - - - -
Figure 14.6 – Variography study and search ellipsoid ranges by domain group
The 3D variography yielded the best-fit model along an orientation that roughly
corresponds to the strike and dip of the mineralized zones. This best-fit model was
adjusted to fit the mean orientation of each mineralized zone.
14.8.2 Search Ellipsoids

Five (5) sets of search ellipsoids were built using the ranges of the best-fit variogram
model for each domain group.
The interpolation strategy involved three (3) cumulative passes (except for WAST_999
which had only 1 pass) characterized by increasing search ranges. The ranges of the
search ellipsoids correspond to 1x the variography range results for the first interpolation
pass, 1.5x the variography results for the second pass, and 2x the variography results
for the third and last pass.
Table 14.9 summarizes the parameters of the search ellipsoids used to select
composites. Figure 14.7 to Figure 14.10 show examples of the ellipsoids in isometric
views.
Table 14.9 – Search ellipsoid parameters
Search Orientation Ranges

Domain group Block code
Ellipse Az. Dip Az. X (m) Y (m) Z (m)
Pass 1 55.0 55.0 25.0

DAN_ALL 100, 101, 102 Pass 2 67 -19 17 82.5 82.5 37.5
Pass 3 110.0 110.0 50.0
Pass 1 70.0 45.0 20.0
LIAM36 110, 111, 112, 120, 121 Pass 2 54 28 276 105.0 67.5 30.0
Pass 3 140.0 90.0 40.0
Pass 1 90.0 90.0 45.0
RENARD2 131 Pass 2 60 17 124 135.0 135.0 67.5
Pass 3 180.0 180.0 90.0
Pass 1 80.0 47.0 58.0
RENARD1 130, 132 Pass 2 102 -59 79 120.0 70.5 87.0
Pass 3 160.0 94.0 116.0
Pass 1 67 -19 17 55.0 55.0 25.0
WAST_999 999 Pass 2
Pass 3
DAN_ALL search ellipsoid, first pass
Figure 14.7 – Isometric view of the search ellipsoid used for the Dan Zone
RENARD2 search ellipsoid, first pass
Figure 14.8 – Isometric view of the search ellipsoid used for the Renard-2 domain
in the Renard Zone
RENARD1 search ellipsoid, first pass
Figure 14.9 – Isometric view of the search ellipsoid used for the Renard-1 and
Renard-HG domains in the Renard Zone
LIAM36 search ellipsoid, first pass
Figure 14.10 – Isometric view of the search ellipsoid used for the Liam and 36
zones
14.9 Grade Interpolation

The interpolation profiles were customized for the eleven (11) mineralized domains using
hard boundaries.
The variography study provided the parameters used to interpolate the grade model
using capped composites. The interpolation was run on a point area workspace extracted
from the 3m composite dataset (flagged by domains) in GEMS. A cumulative 3-pass
search was used for the resource estimate.
The ordinary kriging (“OK”) method was selected for the final resource estimate as it
better honours the raw assays and composites grade distribution for the deposit.
The strategy and parameters used for the grade estimation are summarized in Table
14.10.
Table 14.10 – Interpolation strategy for grouped domains
Number of Composites
Grouped Domains Pass
Min Max Max per Hole
1 4 12 3
LIAM36 2 3 12 2
3 2 12 1
1 7 24 6
DAN_ALL, RENARD1, 2 6 24 5
RENARD2, WAST_999
3 2 24 1
14.10 Block Model Validation

The block models were validated visually and statistically.
A visual comparison between block model grades, composite grades and gold assays
was conducted on sections, plans and longitudinal views for both densely and sparsely
drilled areas. No significant differences were observed during the comparison and it
generally provided a good match in grade distribution without excessive smoothing in
the block model. The visual validation confirmed that the block model honours the drill
hole composite data (Figure 14.11).
A Nearest Neighbor (NN) model and an Inverse Distance Squared (ID2) model were also
produced to check the local bias in the OK model. The NN and ID2 models matched well
with the OK model and the differences in the high-grade composite areas are within
acceptable limits. The apparent over-smoothing of the Dan Sud domain is related to the
clustered drilling patterns in the area (Table 14.11).
The trend and local variation of the estimated OK model was also compared to the NN,
ID2 model and to the composites in the three (3) directions of the swath plots (North,
East and Elevation) for blocks estimated during the first pass. The swath plots show an
acceptable amount of smoothing in the grade distribution regarding each method (Figure
14.12).
Section L000, Clipping ±25m
Figure 14.11 – Validation of the Nelligan Project interpolation results, comparing drill hole assays and block model
grade values
Table 14.11 – Statistical comparison of the composite mean grades to block model
mean grades for different interpolation methods
Composite Interpolation
Block Number of
Domains Number of Mean OK ID2 NN
code Interpolated
Composites (Au g/t) (Au g/t) (Au g/t) (Au g/t)
Blocks
Dan Sud 100 74 0.43 32 0.15 0.15 0.12
Dan Central 101 114 0.81 519 0.82 0.86 0.72
Dan Nord 102 392 0.33 2278 0.29 0.27 0.30
Liam HG 110 174 1.34 1829 1.58 1.56 1.69
Liam 111 409 0.23 3353 0.27 0.27 0.29
Liam Nord 112 175 0.28 1432 0.22 0.22 0.24
36 Central 120 135 0.73 988 0.71 0.70 0.72
36 Nord 121 81 0.54 589 0.53 0.54 0.57
Renard HG 130 2621 0.96 39570 1.03 1.01 1.10
Renard 2 131 1416 0.42 23716 0.42 0.42 0.43
Renard 1 132 4279 0.35 83257 0.36 0.36 0.37
All interpolated blocks during first pass
Cross-strike at 60°
Figure 14.12 – Swath plot for all domains in the Nelligan Project
14.11 Cut-off Parameters
The 2019 MRE was prepared for an open pit scenario only, and results were compiled
using a minimum cut-off grade of 0.5 g/t Au.
The open pit potential mining scenario was used for supporting the criteria of reasonable
prospects of economic viability and for establishing reasonable cut-off grades for the
deposit. No PEA, PFS or FS studies have been completed to support the economic
viability or technical feasibility of mining any portion of the mineral resource by any
particular mining method.
The cut-off grade must be re-evaluated in light of prevailing market conditions and other
factors, such as gold price, exchange rate, mining method, related costs, etc.
The parameters and assumptions used to determine the cut-off grade (“CoG”) are
presented in Table 14.12.
The final selected Whittle input parameters and CoG for the in-pit resource estimate are
also presented in Table 14.12.
Table 14.12 – Input parameters used to calculate the cut-off grade
Input Parameter Unit Value
Gold price CA$/oz 1,650
Gold price US$/oz 1,500
Refining and selling cost CA$/oz 5.00
Exchange rate US$:CA$ 1.1
Mining cost CA$/t mined 3.00
Overburden removal cost CA$/t excavated 3.00
G&A cost CA$/t milled 2.50
Mill recovery % 92
Dilution % 5
Processing cost (C$/t milled) CA$/t milled 12.00
Slope angle in overburden Degree 25
Slope angle in bedrock Degree 45
Calculated CoG Au g/t 0.33
Resource in-pit CoG (rounded) Au g/t 0.50
Using the parameters shown in the table above, the CoG of 0.33 g/t was calculated as
follows:
𝑃𝑟𝑜𝑐𝑒𝑠𝑠𝑖𝑛𝑔 𝐺&𝐴 31.1035 1 𝑀𝑖𝑛𝑒 𝑑𝑖𝑙𝑢𝑡𝑖𝑜𝑛
𝐶𝑜𝐺
𝐺𝑜𝑙𝑑 𝑝𝑟𝑖𝑐𝑒 𝑆𝑒𝑙𝑙 𝑐𝑜𝑠𝑡 𝑀𝑖𝑙𝑙 𝑟𝑒𝑐𝑜𝑣𝑒𝑟𝑦 𝑀𝑖𝑛𝑒 𝑟𝑒𝑐𝑜𝑣𝑒𝑟𝑦
A rounded value of 0.50 g/t Au was selected as the in-pit CoG given the early stage of
the project and the few preliminary metallurgical test results (only 3) for estimating
processing cost and mill recovery. The Whittle pit shell used to constrain the 2019 MRE
was based only on inferred blocks and was optimized on the basis of a cut-off grade
value of 0.50 g/t Au.
14.12 Mineral Resource Classification
14.12.1 Mineral resource classification

All blocks in the 2019 MRE were classified as inferred mineral resources. The inferred
category was only defined where blocks were interpolated in Pass 1 by a minimum of 2
drill holes and where drill hole spacing was less than 100 m. The blocks interpolated by
Pass 1 shows reasonable geological and grade continuities. Some blocks from Pass 2
were locally upgraded to the inferred category, and some blocks from Pass 1 were locally
downgraded to unclassified material in order to avoid isolated blocks. Inferred blocks
must also be included within the optimized pit shell and must have a grade above 0.5 g/t.
Final block classification was assigned by clipping 3D solids (built on a domain-by-
domain basis on either longitudinal view or in cross-sections).
Figure 14.13 shows an example of mineral resource classification.
Figure 14.13 – Example of the Renard 1 domain showing the clipping boundary,
built on cross-sections, for inferred classification before pit optimization
14.13 Mineral Resource Estimate
InnovExplo is of the opinion that the current mineral resource estimate can be classified
as inferred mineral resources based on data density, search ellipsoid criteria, drill hole
spacing and interpolation parameters. InnovExplo considers the 2019 MRE to be reliable
and based on quality data, reasonable assumptions, and parameters that follow CIM
Definition Standards.
Table 14.13 and Figure 14.14 presents the results of the 2019 MRE for the Project at a
cut-off of 0.5 g/t Au for an open pit mining scenario.
Table 14.14 presents the sensitivity of the 2019 MRE at different cut-off grades for an
open pit scenario. The reader should be cautioned that the figures provided in this table
should not be interpreted as a mineral resource statement. The reported quantities and
grade estimates at different cut-off grades are presented for the sole purpose of
demonstrating the sensitivity of the resource model to the selection of a reporting cut-off
grade.
Table 14.13 – Nelligan Project Mineral Resource Estimate at 0.5 g/t cut-off for an
open pit mining scenario
Resource
Zones Tonnage (t) Grade (g/t Au) Gold ounces (oz)
Category
Dan 1,525,000 1.00 48,900
Liam 2,939,000 1.47 139,100
Inferred 36 809,000 0.87 22,500
Renard 91,716,000 1.01 2,983,400
Total 96,990,000 1.02 3,193,900
Notes to accompany the Mineral Resource Estimate:
1. The Independent and Qualified Persons for the Mineral Resource Estimate, as defined by NI 43-101, are Alain
Carrier, P.Geo., and Vincent Nadeau-Benoit P.Geo., both from InnovExplo Inc., and the effective date is October
2, 2019.
2. These mineral resources are not mineral reserves, as they do not have demonstrated economic viability.
3. The mineral resource estimate follows current CIM definitions and guidelines for mineral resources.
4. The results are presented undiluted and are considered to have reasonable prospects of economic viability.
5. The estimate encompasses four (4) gold-bearing zones (Renard, 36, Liam and Dan), subdivided into 11
subdomains each defined by individual wireframes with a minimum true thickness of 3.0 m, using the grade of the
material when assayed or a value of zero when not assayed. The resource was estimated using GEOVIA GEMS
6.8.
6. High-grade capping supported by statistical analysis was done on raw assay data before compositing and
established on a per-zone basis. All zones and their subdomains were capped at 15 g/t, except for the High-grade
domain of the Renard Zone which was capped at 30 g/t. Raw assays associated with a core recovery below 60%
and/or with an interval length of more than 2.0 m were capped at 2.5 g/t.
7. Grade interpolation was performed by Ordinary Kriging on 3.0 m composites from drill hole intersections falling
within the mineralized zones in a block model with a block size of 10.0 m by 10.0 m by 10.0 m.
8. Bedrock was assigned a density value of 2.73 g/cm3 corresponding to the mean of SG measurements for the
Project. A fixed density value of 2.20 g/cm3 was assigned to highly fractured domains and 2.00 g/cm3 to the
overburden.
9. The estimate is categorized as inferred mineral resources. The inferred category is only defined with a minimum
of two (2) drill holes in areas where the drill spacing is less than 100 metres and reasonable geological and grade
continuity has been demonstrated.
10. The Mineral Resource Estimate is pit-constrained with a bedrock slope angle of 45° and an overburden slope
angle of 25°. It is reported at a rounded cut-off grade of 0.50 g/t Au. The cut-off grades were calculated using the
following parameters: mining cost = CA$ 3.00; processing cost = CA$ 12.00; G&A = CAD 2.50; refining and selling
costs = CA$ 5.00; gold price = US$ 1,500.00/oz; US$:CAD exchange rate = 1.1; and mill recovery = 92.0%. The
cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rates,
mining costs etc.).
11. The number of metric tonnes was rounded to the nearest thousand, following the recommendations in NI 43-101
and any discrepancies in the totals are due to rounding effects. The metal contents are presented in troy ounces
(tonnes x grade / 31.10348).
12. InnovExplo Inc. is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political,
or marketing issues, or any other relevant issue not reported in the Technical Report, that could materially affect
the Mineral Resource Estimate.
Figure 14.14 – Nelligan Project Mineral Resource Estimate results illustrations
Table 14.14 – Sensitivity of the pit-constrained Nelligan Project Inferred Mineral

Resource Estimate to cut-off grade
Inferred Resources
Cut-off (g/t)
Tonnage (t) Grade (g/t Au) Ounces (Au)
>1.75 9,431,000 2.35 713,900
>1.50 13,971,000 2.11 949,900
>1.00 34,844,000 1.57 1,758,000
>0.75 60,023,000 1.27 2,455,800
>0.60 81,498,000 1.11 2,921,000
>0.50 96,990,000 1.02 3,193,900
>0.40 118,674,000 0.92 3,505,200
>0.35 134,551,000 0.85 3,696,300
>0.30 152,765,000 0.79 3,886,600
15. MINERAL RESERVE ESTIMATES
Not applicable at the current stage of the Project.
16. MINING METHODS
17. RECOVERY METHODS
18. PROJECT INFRASTRUCTURE
19. MARKET STUDIES AND CONTRACTS
20. ENVIRONMENTAL STUDIES, PERMITTING, AND SOCIAL OR COMMUNITY

IMPACT
21. CAPITAL AND OPERATING COSTS
22. ECONOMIC ANALYSIS
23. ADJACENT PROPERTIES
At the effective date of this report, the GESTIM database contains records for numerous
mineral exploration properties in the area of the Project. A map of adjacent properties is
shown on Figure 23.1; claims held by prospectors are listed as “Other” in the legend.
All the information presented below for properties adjacent to the Project come from the
public domain and have not been verified by InnovExplo. The nearby mines and deposits
are not necessarily indicative that the project hosts similar types of mineralization.
23.1 Anik Property

Owned by Exploration Kintavar Inc. (“Kintavar”), the Anik property is located along the
northern boundary of the Nelligan Project and comprises 120 claims. Kintavar also holds
three (3) other clusters of claims, respectively consisting of 5, 12 and 67 claims, in the
surrounding area. In January 25, 2019, Kintavar announced it had entered into a letter
of intent (“LOI”) with the TomaGold spin-out corporation, Monster Exploration, to sell Anik
Gold Property for $5 million. Upon closing the spin-out, Monster Exploration will have a
100% interest in the Anik property.
The Anik property (Charbonneau and Pelletier, 2016) is an exploration project on which
gold anomalies were identified in iron formations hosted in a sedimentary sequence
(Duquette 1965). The STR-91-03 trench discovered in 1991 returned values of
22.1 g/t Au and 66.6 g/t Au (Pelletier, 2015). In 2014, the Orbi, Bobby, Kovi and Mirador
sector were discovered. Subsequent drilling on the Bobby Zone revealed downward
extension and returned gold values of 0.41 g/t Au over 56.5 m, including 1 g/t Au over
15 m (Pelletier and Cayer, 2015) and 1.28 g/t Au over 7.96 m, including 3.06 g/t Au over
1.54 m (Pelletier, 2017).
A 43-101 compliant technical report on the Anik property, documenting the gold potential
and exploration activities, was prepared by Inlandsis Consultants and was filed in
December 2016. Inlandsis Consultants concluded that low-grade but continuous
mineralization is present on the project. They recommended that the compilation of
historical data be completed, the interpretation updated, exploration targets generated,
and follow-up sampling conducted through field work (Charbonneau and Pelletier, 2016).
23.2 Lac Surprise Property

Owned by Northern Superior Resources Inc. (“Northern Superior”) (100%), the Lac
Surprise Property is an exploration project located along the western boundary of the
Nelligan Project (Figure 23.1). It consists of 333 claims (18,555 ha). Most of the following
information can be found on the Northern Superior web site.
From 2016 to 2017, a 1,500-m diamond drill program tested gold showings and IP trends
on the Amber Zone. The best results were: 2.26 g/t Au over 4.85 m (BA-16-02);
2.52 g/t Au and 5.4 g/t Ag over 2.18 m, including 2.73 g/t Au and 1.5% Zn over 0.53 m
(BA-16-08); and 1.56 g/t Au over 3.0 m (BA-16-12) (Armstrong, and Kilbourne, 2016).
Two exploration programs were completed as well as an IP survey and high-definition
Mag survey east of the Black Phoenix showing. Mineralized grab samples on the Black
Phoenix returning values of 19.9 g/t Au and 5.77 g/t Au (Parsons and Tremblay, 2015).
Four (4) priority anomalous trends were identified by the geophysical survey, followed by
a drill program of five (5) holes totalling 1,185 m. The drilling program confirmed one of
the anomalous trends as a hydrothermal system bearing gold mineralization. The best
intersection was 1.12 g/t Au over 6.34 m, including 4.50 g/t Au over 0.73 m (Northern
Superior news release of March 9, 2017).
In September 2019, a drill program consisting of ten (10) holes totalling 3,000 m was
initiated to confirm the extension of the Renard Zone from the Nelligan Project and to
test the extensions of the Black Phoenix Zone (Northern Superior news release of
September 10, 2019).
23.3 Opawica and Philibert-1 properties

Owned by Mozaic Minerals Corporation (“Mozaic”), the Opawica and Philibert-1
exploration properties consist of two (2) claims blocks of eighty (80) and four (4) claims
(respectively 4,480 and 224 ha). It is located northeast of the Nelligan Project, directly
adjacent to Kintavar’s Anik property.
In 1993, 25 holes were drilled on the property totalling 11,959 m. The objective was to
evaluate the continuity of five (5) mineralized zones as well as punctual testing of
exploration targets (Zn- and Au-rich boulders).
In 2016, airborne Mag and VLF surveys were completed over the Opawica and Philibert I
properties. An exhaustive interpretation by MB Geosolutions Inc. outlined eight (8) gold
and three (3) copper-rich polymetallic exploration targets. Two (2) of the copper targets
are located in the Opawica South Block and one (1) in the Philibert I block; four (4) of the
gold targets are located in the Opawica North block, three (3) in the Opawica South block
and one (1) in the Philibert I block (Stellar Africagold Inc. press release of June 13, 2016).
23.4 Philibert
Owned by SOQUEM, the Philibert property consists of 110 mining titles (5,392.57 ha).
In 1990, SOQUEM published a historical mineral resource estimate of 1.4 M t at
5.3 g/t Au.
These “resources” are historical in nature and should not be relied upon. It is unlikely they conform
to current NI 43 101 requirements or follow CIM Definition Standards, and they have not been verified
From 1983 to 2014, SOQUEM conducted multiple drill programs and several geophysical
surveys (Mag survey, TBF, IP) as well as prospecting and trenching programs on the
Philibert property. Several gold occurrences were discovered, with the following assay
highlights: 5.62 g/t Au over 4.8 m including 7.67 g/t Au over 2.8 m for Zone 179;
2.45 g/t Au over 11.5 m for Zone 182 (Desjardins and Gilbert, 1994); 4.45 g/t Au over
13.2 m for Zone 37-2, 7.63 g/t Au over 6.0 m for Zone Ai (Gagnon et al., 2013);
2.36 g/t Au over 25.8 m for Zone 106 (hole 981-14-297); and 6.42 g/t Au over 3.5 m for
Zone 37-1 (Gagnon, 2014). After the 2014 program, SOQUEM recommended that a
mineral resource estimate be generated (Gagnon, 2014).
23.5 Joe Mann

Owned by Ressources Jessie Inc. (65%) and SOQUEM (35%), the Joe Mann property
hosts the former Joe Mann mine and consists of two (2) blocks totalling 77 claims
(2,904.54 ha). It is located northeast of the Nelligan Project. Several gold occurrences
delineate the gold corridor that hosts the Joe Mann mine. The Joe Mann mine is located
in the northeastern part of the property and was in operation from 1956 to 1959, 1974 to
1975, and 1987 to 2007. The production total was 4,754,375 t at 8.26 g/t Au as of August
2007 (MERNQ, 2008). The mine has a historical mineral reserve of 1,525,838 t at
11.0 g/t Au and 0.28% Cu as of December 31, 1987 (Dion and Guha, 1988). The Meston
Lake gold occurrence is located in the northwestern part of the property and has a
historical mineral resource estimate of 1.235 Mt at 6.25 g/t Au (Northern Miner, March
28, 1974).
These “resources” are historical in nature and should not be relied upon. It is unlikely they conform
to current NI 43 101 requirements or follow CIM Definition Standards, and they have not been verified
SOQUEM re-sampled historical drill holes and re-interpreted geophysical surveys

(resistivity and PP surveys) between 2014 and 2016, yielding new anomalies (Malo
Lalande, 2016; Schmitt, 2015).
23.6 Monster Lake property

The Monster Lake property is owned 45% by TomaGold corporation, 50% by IAMGOLD
and 5% by Quinto Resources Inc. The property consists of 114 claims covering an area
of 3,336 ha. The property is at an advanced exploration stage. The main zones are 325,
Annie and Mégane. The property is characterized by gold mineralization associated with
NE and NW shear zones cutting mafic volcanic and intrusive rocks.
A 43-101 compliant technical report presenting an initail mineral resource estimate was
published in April 2018. Inferred resources were estimated to be 1,109,700 t at
12.14 g/t Au (433,300 oz Au) (Athurion et al., 2018). The report concluded that continuity
had been demonstrated for four (4) mineralized zones. Additional exploration/delineation
drilling and further geological interpretation were recommended to gain a better
understanding of the deposit before updating the current mineral resource estimate
(Athurion et al., 2018).
In 2018-2019, IAMGOLD drilled 40 DDH to improve confidence in the continuity of the
mineralization, to test extensions of the known zones, and to find additional zones in
order to increase the total mineral resources on the property. Gold occurrences were
intersected in several drill holes.
23.7 Chevrier property

The Chevrier property consists of 455 mining claims (22,959.27 ha). Of this total, 326
claims are held by Chevrier Metals Corporation, IAMGOLD Corporation has an interest
in 30 claims, First Quantum Minerals has an interest in two (2) claims, and André Liboiron
holds 97 (currently being transferred to Chevrier Metals Corp). The property is
characterized by disseminated pyrite mineralization in an altered shear zone (ankerite-
sericite-leucoxene with variable amounts of fuchsite).
In February 2019, a 43-101 technical report and mineral resource estimate were
prepared by Géologica Groupe-Conseil Inc. Indicated mineral resources were estimated
to be 10.793 Mt at 1.22 g/t Au, for a total of 423,000 oz of gold, and inferred mineral
resources were estimated to be 7.438 Mt at 1.27 g/t Au, for a total of 303,000 oz of gold
(Beauregard et al., 2019). The report recommended that exploration work continue
(prospecting, stripping, mapping, sampling and drilling) to gain a better understanding of
the mineralization on the property. A detailed 3D compilation of gold-rich zones was also
recommended to gain a better understanding of how structural patterns affect the
mineralization (Beauregard et al., 2019).
23.8 Muus, Muus East and Nisk properties

The Muus property is located to the northwest of the Nelligan Project, the Muus East
property is located to the northeast and the Nisk property is adjacent to the south. These
properties consist of four (4) blocks of 855 claims (47,377 ha) and are wholly owned by
Blue Thunder Mining Corporation (“Blue Thunder”). One (1) block of one (1) claim (51 ha)
on the Nisk property is owned 50% by Blue Thunder and 50% by Rafael Moncayo.
Several historical gold occurrences are present on these properties. The Lac des Vents
showing is characterized by mineralization composed of 1 to 5% cubic pyrite in quartz
clusters. A grab sample returned a gold value of 2.56 g/t Au (Bernier, 1990). The Welb
(Rrk) outcrop, characterized by mineralization composed of 1 to 2% disseminated pyrite
and traces of chalcopyrite contained in a smoky quartz veins stockwork, returned several
gold values including a grab sample of 1 m grading 8 g/t Au (Morasse, 1989). In 2019,
ground sampling and airborne Mag surveys were completed on the Muus property.
Figure 23.1 – Map of the Nelligan Project and adjacent properties
24. OTHER RELEVANT DATA AND INFORMATION
25. INTERPRETATION AND CONCLUSIONS
The objective of InnovExplo's mandate was to present and support an initial mineral
resource estimate (the “2019 MRE”) for the Nelligan Project. This Technical Report and
the 2019 MRE results herein meet these objectives.
After conducting a detailed review of all pertinent information and completing the
2019 MRE mandate, InnovExplo concludes the following:
 The database supporting the 2019 MRE is complete, valid and up to date;
 Geological and gold grade continuity has been demonstrated for the four
mineralized zones (Dan Zone, Liam Zone, Zone 36 and Renard Zone) and the
subdomains;
 The 2019 MRE key parameters (density, capping, compositing, interpolation,
search ellipsoid, etc.) are supported by data and statistical and/or geostatistical
analysis;
 The 2019 MRE was prepared as a pit-constrained (Whittle optimized pit shell)
inferred resource at a cut-off grade of 0.5 g/t;
 Cut-off grades were calculated at a gold price of US$1,500 per troy ounce and
an exchange rate of 1.1 US$/CA$, using reasonable mining, processing and G&A
costs;
 All blocks were classified as inferred resources. There are no measured or
indicated resources;
 The pit-constrained inferred resource is estimated at 96,990,000 tonnes at an
average grade of 1.02 g/t Au for a total of 3,193,900 ounces of gold;
 The 2019 MRE is considered to be reliable, thorough, based on quality data,
reasonable hypotheses, and parameters compliant with NI 43-101 requirements
and CIM Definition Standards;
 Opportunities exist to potentially add additional mineral resources to the Project;
 It is likely that additional in-fill drilling could upgrade some of the inferred
Table 25.1 identifies any important internal risks, potential impacts and possible risk
mitigation measures that could affect the economic outcome of the Project. This excludes
the external risks that apply to all mining projects (e.g., changes in metal prices,
exchange rates, availability of investment capital, change in government regulations,
local communities and social acceptability, etc.). Significant opportunities that could
improve the economics, timing and permitting of the project are also identified in this
table. Further information and evaluation are required before these opportunities can be
included in the economics of the project.
Table 25.1 – Risks and opportunities of the Nelligan Project

RISK Potential Impact Possible Risk Mitigation
Conduct an environmental baseline study
to evaluate potential environmental
Resource’s pit shell could be smaller impact. Continue to organize information
Environment and lakes
and affect the project.. sessions, publish information on the
mining project, and meet with host
communities.
RISK Potential Impact Possible Risk Mitigation
An early search for professionals can
Difficulty in attracting The ability to attract and retain identify and attract critical people. It may
experienced competent, experienced professionals be necessary to provide accommodation
professionals is a key factor for success. for key people (not included in the project
costs).
Low-recovery areas; The interpreted fracture domains may Definition drilling will improve the
highly fractured have a different shape and orientation, understanding and definition of highly
domains need better and the bulk density of these domains fractured areas. Downhole televiewer
support for could be lower, causing local loss of surveys could also help asses the in-situ
interpretation mineral resources. aspect of these areas.
Metallurgical recoveries
Recovery might be lower than what is
are based on limited Conduct additional metallurgical tests.
currently being assumed.
testwork
OPPORTUNITY Explanation Potential Benefit
Increased confidence level of future
Positive results could upgrade inferred
Infill drilling MRE, potentially allows economic study
on the indicated category
Potential for additional inferred

Adding inferred resources increases the
Exploration potential resources by drilling targets in the
economic value of the Project.
known extension of the project.
Low recovery areas;

A better interpretation of these Definition drilling will help to understand
highly fractured
domains may show that the mitigation and more precisely define the highly
domains need better
addressed in the 2019 MRE is too fractured areas, and potentially confirm
support for
conservative. and increase the resources.
interpretation
Metallurgical recoveries Recovery may be variable and Conduct additional metallurgical tests for
are based on limited possibly better than what is currently more precise assumptions of the
testwork being assumed. recovery rate and milling cost.
Potential to mine material from both

projects (IAMGOLD has interests in
Potential synergy with Potentially increase the economic value
both) and create synergies in the
Monster Lake project of the Project
workforce, milling and mining facilities,
etc.
26. RECOMMENDATIONS
Based on the results of the 2019 MRE, InnovExplo recommends additional exploration
and delineation drilling, further geological interpretation, and improvement of the
metallurgical characterization to gain a better overall understanding of the risks and
opportunities for the Project.
Additional metallurgical testwork will yield a better assessment of the recovery rate and
milling cost assumptions in the cut-off grade calculation for a future MRE update and
associated optimized pit shell. In particular, InnovExplo recommends documenting the
gold recovery rate for different gold grade ranges, from lower to higher grade material,
and for different mineralized zones on the Project.
Infill drilling using a regular 50-m drilling grid should be completed to test continuity and
potentially convert some of the inferred resources to the indicated category.
Exploration drilling should target the known potential in the western extension of the
Renard Zone and the lateral and at-depth extensions of the Liam Zone. Conditional on
the success of the drilling programs, some satellite clusters of inferred resources could
be connected to the current main volume of inferred resources.
The highly fractured domains and faults could be characterized using borehole
televiewer surveys in about ten (10) previously drilled holes in strategic locations. The
surveys would improve the structural understanding of the Project and will better
constrain the width, extent and in-situ characteristics of the highly fractured domains and
faults.
In parallel, InnovExplo also recommends maintaining a pro-active and transparent
strategy and communication plan with local communities and First Nations. An
environmental baseline study should also be carried out.
In summary, InnovExplo recommends the following two-phase work program:
Phase 1:
 1B) Additional metallurgical testwork;
 1C) Conversion and exploration drilling;
 1D) Acoustic televiewer survey campaign; and
 1E) MRE update
Phase 2 (conditional on the success of Phase 1):

 2B) Environmental baseline study;
 2C) Conversion and exploration drilling; and
 2D) MRE update and PEA
InnovExplo has prepared a cost estimate for the recommended work program to serve
as a guideline for the Project. The budget estimate for the proposed program is presented
in Table 26.1. The estimated cost for Phase 1 is C$4,439,000 (incl. 15% for
contingencies); the estimated cost for Phase 2 is C$3,070,500 (incl. 15% for
contingencies). The grand total is C$7,509,500 for both phases. Phase 2 is contingent
upon the success of Phase 1.
InnovExplo is of the opinion that the recommended work program and proposed
expenditures are appropriate and well thought out. InnovExplo believes that the
proposed budget reasonably reflects the type and amount of the contemplated activities.
Table 26.1 – Estimated costs for the recommended work program
Phase 1 – Work Program Cost Estimate ($)

1A) Community relation and communication plan 40,000
1B) Additional metallurgical testwork 150,000
1C) Conversion and exploration drilling (±35,000m) 3,500,000
1D) Acoustic televiewer survey 20,000
1E) MRE update 150,000
Subtotal 3,860,000
Contingency (15%) 579,000
Total Phase 1 4,439,000
Phase 2 – Work Program Cost Estimate ($)

2A) Community relation and communication plan 60,000
2B) Environmental baseline study 110,000
2C) Conversion and exploration drilling (±20,000m) 2,000,000
2D) MRE update and PEA 500,000
Subtotal 2,670,000
Contingency (15%) 400,500
Total Phase 2 3,070,500
TOTAL Phase 1 and 2 7,509,500
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APPENDIX I – LIST OF MINING TITLES
Area Registration Expiration Claim
No. Title NTS Type Status Owners (GESTIM reference ID) Royalty
(ha) Date Date Block
Ressources Minières Vanstar inc. (83671) 49 %;
2393584 32G07 CL 56.04 2013-10-31 2019-10-30 Active Émile
IAMGold Corporation (87628) 51 %
2393585 32G07 CL 56.03 2013-10-31 2019-10-30 Active Émile
2393586 32G07 CL 56.03 2013-10-31 2019-10-30 Active Émile
2393587 32G07 CL 56.03 2013-10-31 2019-10-30 Active Émile
2393588 32G07 CL 56.03 2013-10-31 2019-10-30 Active Émile
2393589 32G07 CL 56.03 2013-10-31 2019-10-30 Active Émile
2393590 32G07 CL 56.02 2013-10-31 2019-10-30 Active Émile
2393591 32G07 CL 56.02 2013-10-31 2019-10-30 Active Émile
2393592 32G07 CL 56.02 2013-10-31 2019-10-30 Active Émile
2393593 32G07 CL 56.02 2013-10-31 2019-10-30 Active Émile
2393594 32G07 CL 56.01 2013-10-31 2019-10-30 Active Émile
2393595 32G07 CL 56.01 2013-10-31 2019-10-30 Active Émile
2393596 32G07 CL 56.01 2013-10-31 2019-10-30 Active Émile
2420806 32G07 CL 56.04 2014-12-30 2020-12-29 Active Émile
2420807 32G07 CL 56.04 2014-12-30 2020-12-29 Active Émile
2420835 32G07 CL 56.04 2014-12-30 2020-12-29 Active Ressources Minières Vanstar inc. (83671) 49 %; Émile
2420836 32G07 CL 56.04 2014-12-30 2020-12-29 Active Émile
2420837 32G07 CL 56.04 2014-12-30 2020-12-29 Active Émile
Ressources Minières Vanstar inc. (83671) 49 %; 1% NSR to
2442435 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
IAMGold Corporation (87628) 51 % Pierre Gervais
2442436 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
2442437 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
2442438 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
2442439 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
2442440 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
2442441 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
2442442 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
2442443 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
2442444 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
2442445 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
2442446 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
2442447 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
2442448 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
2442449 32G07 CL 56.05 2016-04-20 2020-04-19 Active Émile
2442450 32G07 CL 56.04 2016-04-20 2020-04-19 Active Émile
2442451 32G07 CL 56.04 2016-04-20 2020-04-19 Active Émile
2442452 32G07 CL 56.04 2016-04-20 2020-04-19 Active Émile
2442453 32G07 CL 56.04 2016-04-20 2020-04-19 Active Émile
2442454 32G07 CL 56.04 2016-04-20 2020-04-19 Active Émile
2442455 32G07 CL 56.04 2016-04-20 2020-04-19 Active Émile
2443588 32G07 CL 56.02 2016-04-28 2020-04-27 Active Émile
2443589 32G07 CL 56.02 2016-04-28 2020-04-27 Active Émile
2443590 32G07 CL 56.02 2016-04-28 2020-04-27 Active Émile
2443591 32G07 CL 56.02 2016-04-28 2020-04-27 Active Émile
2443592 32G07 CL 56.02 2016-04-28 2020-04-27 Active Émile
2443593 32G07 CL 56.02 2016-04-28 2020-04-27 Active Émile
2443594 32G07 CL 56.02 2016-04-28 2020-04-27 Active Émile
2443595 32G07 CL 56.01 2016-04-28 2020-04-27 Active Ressources Minières Vanstar inc. (83671) 49 %; Émile
2443596 32G07 CL 56.01 2016-04-28 2020-04-27 Active Émile
2443597 32G07 CL 56.01 2016-04-28 2020-04-27 Active Émile
2443598 32G07 CL 56.01 2016-04-28 2020-04-27 Active Émile
2443599 32G07 CL 56.01 2016-04-28 2020-04-27 Active Émile
2449613 32G07 CL 56.03 2016-06-17 2020-06-16 Active Émile
2449614 32G07 CL 56.03 2016-06-17 2020-06-16 Active Émile
2449615 32G07 CL 56.03 2016-06-17 2020-06-16 Active Émile
2449616 32G07 CL 56.03 2016-06-17 2020-06-16 Active Émile
2449617 32G07 CL 56.03 2016-06-17 2020-06-16 Active Émile
2449618 32G07 CL 56.03 2016-06-17 2020-06-16 Active Émile
2449619 32G07 CL 56.03 2016-06-17 2020-06-16 Active Émile
2449620 32G07 CL 56.01 2016-06-17 2020-06-16 Active Émile
2449621 32G07 CL 56.01 2016-06-17 2020-06-16 Active Émile
2426076 32G07 CL 56.04 2015-04-09 2021-04-08 Active Miron
2426077 32G07 CL 56.04 2015-04-09 2021-04-08 Active Miron
2426078 32G07 CL 56.03 2015-04-09 2021-04-08 Active Miron
2426079 32G07 CL 56.02 2015-04-09 2021-04-08 Active Miron
2426080 32G07 CL 56.02 2015-04-09 2021-04-08 Active Miron
2426085 32G07 CL 56.04 2015-04-09 2021-04-08 Active Miron
2468024 32G07 CL 56.02 2016-11-07 2020-11-06 Active Miron
2482191 32G07 CL 56.04 2017-03-01 2021-02-28 Active Miron
2482192 32G07 CL 56.02 2017-03-01 2021-02-28 Active Miron
2482193 32G07 CL 56.02 2017-03-01 2021-02-28 Active Miron
2491937 32G07 CL 56.03 2017-05-09 2021-05-08 Active Miron
2491938 32G07 CL 56.03 2017-05-09 2021-05-08 Active Miron
2491939 32G07 CL 56.03 2017-05-09 2021-05-08 Active Miron
2491940 32G07 CL 56.02 2017-05-09 2021-05-08 Active Miron
2120693 32G07 CL 55.99 2007-09-11 2020-04-13 Active Nelligan
IAMGold Corporation (87628) 51 % Vanstar
2215500 32G07 CL 56.00 2010-04-19 2020-04-13 Active Ressources Minières Vanstar inc. (83671) 49 %; 2% NSR to Nelligan
2248645 32G07 CL 56.03 2010-09-03 2020-04-13 Active Ressources Minières Vanstar inc. (83671) 49 %; Nelligan
2391268 32G07 CL 56.04 2013-10-02 2021-10-01 Active Ressources Minières Vanstar inc. (83671) 49 %; Nelligan
2520070 32G07 CL 56.06 2018-06-28 2020-06-27 Active IAMGold Corporation (87628) 100 %

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Val-d’Or Head Office

Québec Office Montréal Office Phone: 819-874-0447

NI 43-101 Technical Report and Initial Mineral Resource

Vanstar Mining Resources Inc.

Effective Date: October 22, 2019

NI 43-101 Technical Report and Initial Mineral Resource

Vanstar Mining Resources Inc.

(Original signed and sealed) Signed at Val-d’Or on December 4th, 2019

(Original signed and sealed) Signed at Val-d’Or on December 4th, 2019

Vincent Nadeau-Benoit, P.Geo.

(Original signed and sealed) Signed at Longueuil on December 4th, 2019

Stéphane Faure, PhD, P.Geo.

(Original signed and sealed)

(Original signed and sealed)

Signed this 4th day of December 2019 in Longueuil, Québec, Canada.

(Original signed and sealed)

At the request of IAMGOLD Corporation (“IAMGOLD”), InnovExplo Inc. was retained to

Property description and ownership

Status of the project

Mineral resource estimates

Dan 1,525,000 1.00 48,900

Conclusions and recommendations

Phase 2 (conditional on the success of Phase 1):

2.2 Terms of Reference / Basis of the Technical Report

2.3 Report Responsibility and Qualified Persons

2.4 Site visits

2.5 Effective Date

2.6 Sources of Information

2.7 Currency, Units of Measure, and Acronyms

Table 2.1 – List of Acronyms

Table 2.2 – List of units

Imperial Unit Multiplied by Metric Unit

InnovExplo would like to acknowledge the support and collaboration provided by

4.2 Claim Status

4.2.2 Émile Property

4.2.4 IAMGOLD Claims

4.3 IAMGOLD–Vanstar Agreement

4.4 Permits and Environment

4.5 Communication and Consultation with the Community

5.3 Local Resources and Infrastructure

Figure 5.1 – Map showing access to the Nelligan Property

6.1 1950 to 1967

6.2 1977 to 1986

6.3 1987 to 1996

6.4 2012 to 2016

Falconbridge Nickel Mines - Geophysical: Gravity

7.1 Regional Geology

7.1.1 Abitibi greenstone belt

Figure 7.1 – Stratigraphic map of the Abitibi Greenstone Belt

Figure 7.3 – Project geology map

Figure 7.4 – Mineralized zones in the Nelligan MRE area

Mineralization is hosted in strongly altered sedimentary rocks of the Caopatina

7.3.1 Dan Zone

7.3.2 Liam Zone

7.3.4 Renard Zone

8.1 Orogenic Deposits

9.1 Thin Section Petrography

9.2 UAV Magnetic Survey

9.3 Mapping Programs