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Explor Resources Inc. (OTCQB: EXSFF, TSX-V: EXS, FSE & BE: E1H1). Focused on Exploration in the Abitibi Greenstone Belt in Ontario and Quebec…PDAC Interview with Chris DuPont, President and CEO

on 4/3/2018
Explor Resources Inc. (OTCQB: EXSFF, TSX-V: EXS, FSE & BE: E1H1) is a gold and base metals exploration company, with mineral holdings in Ontario, Quebec and New Brunswick, Canada. The company is currently focused on exploration in the Abitibi Greenstone Belt of Ontario and Quebec, and base metals in New Brunswick. We learned from Mr.Chris DuPont, President and CEO of Explor Resources, that they are focused on developing and proving-up the Central Pit (representing 250,000 ounces of GOLD) on the Company’s flagship Timmins Porcupine West GOLD resource in Ontario. Plans for 2018 include delineation drilling on the central pit, and metallurgical analysis to better define extraction costs, permitting, design and engineering. Actual production will commence thereafter.

Chris DuPont, President and CEO of Explor Resources at PDAC 2018

Dr. Allen Alper: This is Dr. Allen Alper, Editor-in-Chief of Metals News, interviewing Chris DuPont, President and CEO of Explor Resources. Could you give our readers/investors an overview of your company?

Mr. Chris DuPont: Great to see you again, Allen. In spite of our Timmins Porcupine West GOLD Property (TPW), with well over 1,000,000 ounces of GOLD, we're still considered a ‘Junior’ GOLD & Base Metals exploration company. Following our Hoyle Township acquisition, we now have a total of fifteen properties of merit, many of which are along the Porcupine Destor Fault Zone (PDFZ) in Timmins, Ontario. Besides the TPW, we have our Kidd Creek Volcanogenic Massive Sulphides (VMS) project, within a kilometer or two of the Kidd Creek Mine. We also have a growing Copper resource at our Chester Project in New Brunswick, with a Measured & Indicated Resource of 1,400,000 tonnes grading 1.38% Copper, 0.06% Zinc & 3.5 g/t Silver, and an Inferred Resource of 2,089,000 tonnes grading 1.26% Copper. Further, we just completed some initial drilling on our East Bay GOLD project, near Duparquet, Quebec. One of those holes returned 4.85 grams Gold per tonne over 2.5meters, but more importantly, we found GOLD in the sediments. This easily merits additional drilling as many major GOLD deposits around the world have been discovered in the sediments. At the TPW, our discovery hole in the sediments returned 9.22 g/t over 11.0 meters, which led to the higher-grade discovery at depth. Our main focus, right now, is the TPW GOLD project, which is our flagship GOLD Project. We're working on confirming 250,000 ounces of GOLD are readily available at, or near surface, in the Central Pit area, with a view to putting it into production as soon as possible.

Dr. Allen Alper: That’s incredible. Most Juniors have one or maybe, two properties of merit.

Mr. Chris DuPont: We’ve been very lucky. Having been in the GOLD & Base Metals business for a very long time, our reputation for fair dealing has grown, especially in the Timmins GOLD Camp. Add to that our intimate knowledge of the region, and over time, we have assembled quite an impressive stable of properties. Most of them have a history of drilling, or actual production on the property, or we say located in the shadow of a mine headframe.

Dr. Allen Alper: What makes you so confident you have 250,000 ounces of GOLD in the Central Pit area of the Timmins Porcupine West GOLD Deposit?

Mr. Chris DuPont: We have applied extensive geologic modelling to the GOLD Deposit, and completed very extensive drilling. We have identified eight distinct GOLD veins coming to surface in the proposed pit area. Although we will be completing some more Delineation Drilling to firm up our calculations, we have calculated our average grade in the pit to be over two grams per tonne. The Central Pit will measure roughly 750x570 meters, so all our calculations conclude we have approximately 250,000 ounces available for production in the pit area.

Dr. Allen Alper: Quick calculation at say US$1,200…that’s US$300,000,000!! Wow…I would imagine a number of firms would be interested in financing the Open Pit?

Mr. Chris DuPont: Yes, we have actually been working with a couple of European banks, and interested parties in the United States. As you are well aware, Allen, this is a process. Ideally, excavators and trucks start mining tomorrow, and shareholders receive their first dividend later this year. Realistically, however, financing needs to be finalized, engineering design completed and permitting obtained. Equipment contract mining terms need to be completed as well. A deal needs to be struck with a local mill to process the ore. We are a good 12 to 18 months away from production if all goes according to plan.

Dr. Allen Alper: I recall that at the TPW, you have delineated a Strike Length of some 2,000 meters, ‘Open’ at both ends, and ‘Open’ at depth. Beyond the Open Pit plan, do you have further production steps in mind?

Mr. Chris DuPont: The Timmins Porcupine West GOLD Resource is associated with the largest porphyry ever discovered in the Timmins Mining Camp, along the Porcupine Destor Fault Zone. It is Five times bigger than the porphyry associated with the Hollinger/McIntyre Mines, which ultimately produced over 30,000,000 ounces of GOLD. Based on just what we do know about the south side of the porphyry, where we’ve completed most of our work, and the extensive modelling of the deposit, we feel quite comfortable suggesting that there's a potential for 20-30 million ounces there. Further, based on our extensive drilling to date, the deeper we go, the higher the grade of the ore, averaging better than 5-7grams per tonne. So, yes, as the Open Pit moves deeper, ‘ramping down’ to the high grade ore at depth makes all the sense in the world.

Dr. Allen Alper: As I recall, you’re listed on the OTCQB-EXSFF; the Toronto Venture Exchange TSX.V-EXS, and Berlin & Frankfurt-E1H1.

Mr. Chris DuPont: Yes, we have maintained multiple listings for many years now, and appreciated tremendous liquidity from a strong shareholder base. As GOLD & Base Metals values on the world market improve, we are convinced that we will see considerable gains in our Equity moving forward. As we move closer to production at the Central Pit of the TPW, and the anticipated Cash Flow that brings to the Company’s Treasury, we see the Equity returns growing exponentially over time.

Dr. Allen Alper: Agreed. The current debt situation worldwide is staggering, so I share your optimism about GOLD, precious metals, & Base Metals values in the foreseeable future. Do you feel you have the right people, and resources, to undertake such aggressive plans moving forward?

Mr. Chris DuPont: All of our Directors, Senior Geologists, and key personnel have been with Explor for many years, and all of them have 30 to 40 years of experience and all are very good at what they do. I have tremendous confidence we have the right team to get the job done. We are very well established within the mining community, especially in the Timmins area, so any ‘outside’ resource we need moving forward is readily available.

Dr. Allen Alper: In closing, do you have any other thoughts, or comments, you feel might be of importance to our high-net-worth readers/investors at this time?

Mr. Chris DuPont: Mining exploration, and bringing a known resource to production, is not easy. Nor is it for the faint of heart. Explor has continuously moved forward, over many years now, and every step has been meticulously analyzed, discussed, prepared, and executed to be certain we have done our best to increase shareholder value. With fifteen outstanding properties of Merit with tremendous potential, and moving towards production at the TPW, I’ve never been more excited about the Company, or its potential returns.

Dr. Allen Alper: Well said, Chris. Thank you for your time today, and good luck to you, and your team!

Mr. Chris DuPont: We’re all very pleased you dropped by our booth. Its always nice to spend time with someone who shares our enthusiasm for what we do.

The Alper family owns stock in Explor Resources Inc.

Christian Dupont, President
Tel: 888-997-4630 or 819-797-4630
Fax: 819-797-1870

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