Big River Gold Limited announced although there has been no change in the Borborema Ore Reserve since July 2017, this annual Ore Reserve statement includes an updated summary of the material information used to estimate the Ore Reserve, as per ASX Listing Rule 5.9 and the 2012 JORC reporting guidelines, and an updated JORC Code that incorporates the recent revisions to processing and the improvements to the economic assessment of the Borborema project as included in ASX release of 8 July 2020. Material Assumptions and Outcomes from Feasibility Studies: Since the initial JORC 2012 Ore Reserve was declared in July 2017 a significant amount of feasibility study work has been completed, including the November 2019 DFS and a partial update of the DFS regarding processing, capital costs and an increased gold price for financial evaluation. The Ore Reserve is considered to be defined by studies at a feasibility level that includes application of modifying factors. The Ore Reserve is based on the basis that the stage 1 plan of a 2Mtpa development of a stage 1 pit design, containing 20.0 Mt at 1.22 g/t for mill feed gold of 784,480 oz, and project footprint north of the existing highway, south of the existing powerlines and on Company owned land, will be followed by a future project area expansion to encompass the final open pit containing the remaining Ore Reserves. Mining Method and other Mining Assumptions: The open pit mining method is intimately linked to geology/grade control and planned drilling and blasting practices. Mining of the ore zone and adjacent waste is planned at a 5m bench height using a backhoe excavator. This will allow mining selectivity provided that mining of the gently dipping ore zone is always mined from hanging wall to footwall. Most of the waste material will be mined on a nominal 10m bench height using larger excavators. Weathered or oxidised ore is a small proportion (less than 6%) of the total ore reserve. Grade or metallurgical variation is not significant and therefore no blending of crusher feed will be required. The majority of material mined is reasonably hard and competent and so must be blasted. Where practical, lower grade ore (mining block grades less than 0.7 g/t) will be preferentially stockpiled to maximise the mill feed grade. Processing Method and other Processing Assumptions: The process flow sheet was revised in 2020 and is based on a Carbon in Leach (CIL) processing route and includes: a. Three-stage crushing. b. Ball milling. c. Leaching in sodium cyanide. d. Cyanide destruction of leach tails. e. Filtration and dry stacking of tailings and co-disposal with mine waste. Water is reclaimed and recycled back to the process plant. f. Elution using a pressure ZADRA circuit. g. Electrowinning. h. Carbon regeneration. i. Smelting to produce doré. The metallurgical recovery for gold is 92.5%.