PROJECT BACKGROUND

Perlis Enterprise Inc. (“PE” or “Company”) is a young aggressive company, focused on developing one of the famous mine operations of the Yellowknife area, Canada’s Northwest Territories – Thompson-Lundmark gold mine (“TL”). That located in the same Archaen domain as the well-known world-class “Con-Giant” deposit, which produced a combined 14 million ounces of gold.
PE is led by the vigorous and experienced management team, which is targeted to re-opening and developing the Thompson-Lundmark gold mine.

Internal (not independent) Preliminary Economic Assessment (PEA) estimated that, at a base-case gold price of US$1,450 per ounce and a projected incorporating underground and open-pit mining methods and 150 tons-per-day processing plant comprised of a stady gravity ore processing,  the TL is estimated to return a post-tax net present value (NPV) at a 15% discount rate of approximately $14 million and an internal rate of return of 46% based on initially estimated exploration cost $2.7 million, the capital cost of $7,35 million and OM&A cost $7,02 million.

The study also estimated residual mineral resources* (not mined previously) for the TL at 79,230 tons at an average grade of 12.44 grams per ton (“g/t”) gold, containing 31,691 ounces of gold. In addition, there are previously explored mineral resources* at 190,000 tons at an average grade of 9.33 g/t. That is resulting in a mine-life of approximately 5 years.

The Company has actively collaborated with communities and regulatory authorities to integrate the project into local environments.

* Resources not in the terms of Canada NI 43-101