On February 18, 2019, Gold Standard announced an updated Pre-Feasibility Study for The South Railroad portion of the Railroad-Pinion project consisting of the Dark Star deposit and the Pinion Deposit which showed positive results and significant improvements compared to the initial PFS release on September 10, 2018. Key Highlights of the Updated Base Case South Railroad PFS include (all currencies are shown in US dollars):

• Pre-tax net present value (“NPV”) of $331.4M at a 5% discount rate and an after tax NPV of $265.0M at a $1,400 gold price and a $17.11 silver price, with a mineral reserve pit designs based on a gold price of $1,250 per ounce and a silver price of $15.30 per ounce.
• After-tax IRR of 40.0%.
• Average annual gold placement of 156,000 ounces of gold per year over an initial 8-year mine life.
• Average life of mine cash cost of $582 per ounce after by-product credit, and all in sustaining costs (“AISC”)1 of $707 per ounce.
• Proven and probable mineral reserves of 1.246 million ounces of gold and 2.705 million ounces of silver.
• Life of mine strip ratio of 3.1:1.
• Initial capital expenditures of $132.9M.
• Project economics include 15% contingency

Details of the updated Pre-Feasibility study can be found in Form 43-101F1 Technical Report Updated Preliminary Feasibility Study Elko County, Nevada at the following link: https://goldstandardv.com/site/assets/files/4408/m3_gsv_revised_pfs_23_03_2020.pdf