Royalties and Investments

Royalties

Rattlesnake Hills Royalty (2% NSR) - The Company, through its US subsidiary, Endurance Resources Inc. (ERI), owned or had an option for a 100% interest in about 7,000 acres in the Rattlesnake Hills Gold District, Natrona County, Wyoming first acquired in 2008.

In 2015, GFG Resources Inc. ("GFG") acquired the Company's Rattlesnake Hills property through the payment of US$150,000 in cash, and the issuance of 1,400,000 GFG shares. Endurance still retains some GFG shares and retains a 2% net smelter returns royalty ("NSR") on Endurance's former mining claims. GFG can purchase one half of the 2% NSR, at any time, for a cash payment of US$1,500,000.

Since acquisition, GFG has conducted exploration programs including drilling in the district. In 2018 GFG optioned the Rattlesnake Hills Property to Newcrest Mining Limited who completed a drilling program in 2019. Newcrest withdrew from the option in 2020. In April 2021 GFG announced the completion of an earn-in transaction with Group 11 Technologies on the Rattlesnake Hills Property. For a current update visit GFG's website.

Dogpaw Lake (2.5% NSR) - Endurance retains a 2.5% NSR on thirty-three claims near Dogpaw Lake, south of the town of Kenora in northwestern Ontario. The claims are owned by Cameron Gold Operations Ltd., a wholly-owned subsidiary of First Mining Gold Corp.

IVS Investment

Shareholding in Inventus Mining Corp ("Inventus") - Endurance formerly owned 100% interest in the Pardo "paleoplacer gold" Project near Sudbury Ontario. In 2009 the Company executed an option and JV agreement with the predecessor company of Inventus.  In 2016 Endurance sold its remaining 35.5% participating interest in the Pardo JV resulting in Endurance becoming a shareholder of Inventus; effectively exchanging its ownership interest in the Pardo JV for a large shareholding in Inventus. Endurance share ownership has been diluted to less than 10% of the issued and outstanding shares of Inventus. Endurance shareholders can follow Inventus' exploration activities on Pardo and their other exploration projects by visiting the Inventus website.