This report has been prepared for APEX ELEMENTS LLC USA in accordance with the Mineral Exploration Regulations of Liberia and international reporting standards, such as CRIRSCO (Committee for Mineral Reserves International Reporting Standards), and includes the required disclosures and technical details for mineral exploration activities. The Competent Person(s) involved in the preparation of this report meet the qualifications and experience required under the Liberian regulations and international standards

Geological Report

Executive Summary: APEX Elements LLC - Yarwein Mehnsonnoh and Doe District Project

APEX Elements LLC, through its acquisition of APEX Acquisitions Holdings LLC, is advancing its flagship mineral exploration project in Liberia's Yarwein Mehnsonnoh and Doe Districts, covering 11,000 square kilometers. The project, acquired in 2024, has secured a 25-year exploration period under a Memorandum of Understanding (MOU), supported by an exploration license from Liberia's Ministry of Mines and Energy.

This report has been prepared for APEX ELEMENTS LLC USA in accordance with Liberia’s Mineral Exploration Regulations and international reporting standards, such as CRIRSCO (Committee for Mineral Reserves International Reporting Standards). It includes the required disclosures and technical details for mineral exploration activities. The Competent Person(s) involved in preparing this report meet the qualifications and experience mandated under Liberian regulations and international standards.

The technical evaluation indicates substantial gold and nickel reserves, with the updated resource value reaching $1.2 billion in 2024, up from $907 million in 2020. The project’s strategic location within the West African Craton is known for rich gold mineralization, with over 491,000 ounces of gold and 32,413 tons of nickel identified.

APEX aims to develop a sustainable open-pit mining operation targeting 393,167 ounces of gold and 22,689 tons of nickel, utilizing advanced technologies for efficient and environmentally responsible production. The project will focus on high recovery rates, minimizing environmental impact, and aligning with global industry standards for sustainability.

APEX is also committed to strong environmental and social governance (ESG) practices, including water management, ecological protection, and community engagement to ensure local benefits through job creation and infrastructure development.

The financial outlook for the project is promising, with strong internal rates of return and a conservative growth model suggesting long-term profitability. The project is poised to contribute significantly to Liberia’s economy, while APEX’s responsible approach positions it as a leader in the region’s mining sector.

Overall, APEX Elements LLC’s strategic focus on sustainability, innovation, and community impact ensures the long-term success and growth potential of the Yarwein Mehnsonnoh and Doe District Project.

Property Description and Location

Location

The property is located within the Republic of Liberia, on the southwestern coast of West Africa, bordered by Sierra Leone, Guinea, and Côte d'Ivoire. Liberia spans longitudes 7º30' to 11º30' west and latitudes 4º18' to 8º30' north, covering a total land area of 111,369 km². The capital city is Monrovia, and according to the 2022 Census, the national population is 5,358,483.

The Apex project site is situated in Nimba County, within the Yarwein Mehnsonnoh and Doe Districts, in the Gold Bank mining district, a well-established mineralized region in Liberia. It lies between the Saye Town and Ziah Road communities, within the Tapitta area of Nimba County, in the southwestern part of the county.

Figure 1: General Location Map of Mineral Properties.

Property Description

The Apex Mineral Exploration area covers 11,000 km², with its boundaries delineated through cadastral and cartographic surveys conducted by the Ministry of Lands, Mines, and Energy, Republic of Liberia. The location of the property is shown in Figure 4-2, which also highlights other exploration targets currently under evaluation by Apex, although these are not included in the scope of this report.

The Apex operational mines, covered by a valid Mineral Exploration License, occupy a 342.184-acre land parcel located between the Saye Town and Ziah Road communities. This area is situated within the Gold Bank mineralized zone, where alluvial mining is currently being carried out. However, there are plans to transition to open-pit mining in the future, as part of the ongoing development of the project.

Figure 2: Map of the Apex Exploration Area/Mining.

Strategic Approach to Development

APEX’s strategic approach to the Yarwein Mehnsonnoh and Doe District Project reflects a commitment to excellence, innovation, and sustainable development. With a strong resource base, a well-defined operational plan, and a clear vision for scalability, APEX is poised to become a leader in Liberia’s mining sector. The company’s focus on responsible mining practices and community engagement sets it apart from competitors and ensures that its operations are beneficial to both the environment and local communities.

The project also represents a high-value investment opportunity, with strong growth potential and a legacy of positive social and environmental impact. With a growing resource base, a clear plan for operation, and a commitment to best practices in both the mining and ESG spheres, APEX ELEMENTS LLC is well-positioned to deliver consistent, scalable production in one of Africa’s most promising mining regions.

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