GCM Mining : Technical Report dated January 11, 2022 - Toroparu Project (NI 43-101)

NI 43-101 TECHNICAL REPORT AND PRELIMINARY ECONOMIC ASSESSMENT FOR THE TOROPARU GOLD PROJECT, UPPER PURUNI RIVER REGION OF WESTERN GUYANA

PREPARED FOR: GCM MINING CORP.

REPORT DATE: JANUARY 11, 2022

REPORT EFFECTIVE DATE: DECEMBER 1, 2021

EFFECTIVE DATES:	QUALIFIED PERSONS:
Mineral Resource Estimate: November 1, 2021	Glen Kuntz, P. Geo.
PREPARED BY:	Brian Wissent, P.Eng.
Nordmin Engineering Ltd.	Daniel Yang, P. Eng.
	Ben Peacock, P. Eng.
	Kurt Boyko, P.Eng.
	Fernando Rodrigues, MMSAQP
	David Willms, P.Eng.

EF

NI 43-101 TECHNICAL REPORT AND

PRELIMINARY ECONOMIC ASSESSMENT

TOROPARU GOLD PROJECT

UPPER PURUNI RIVER REGION

OF WESTERN GUYANA

Prepared for:

GCM Mining Corp.

Project # 21125-01

Technical Report Effective Date: December 1, 2021

Mineral Resource Effective Date: November 1, 2021

Prepared by:

160 Logan Ave., Thunder Bay, ON P7A 6R1

Phone: [phone] | Fax: [phone]

www.nordmin.com

NI 43-101 Technical Report & Preliminary Economic Assessment	Nordmin Engineering Ltd
Toroparu Gold Project, Guyana, South America	Project # 21125-01
GCM Mining Corp.	Page i

SIGNATURES

Technical Report Effective Date: December 1, 2021

Mineral Resource Effective Date: November 1, 2021

PREPARED AND SIGNED BY

The undersigned prepared this Technical Report, titled NI 43-101 Technical Report and Preliminary Economic Assessment, Toroparu Gold Project, Upper Puruni River Region of Western Guyana, with an effective date of December 1, 2021 in support of the public disclosure. The format and content of this report conforms to National Instrument 43-101 of the Canadian Securities Administrators.

Nordmin Engineering Ltd.	Klohn Crippen Berger
Original Signed_______	Original Signed_______
Glen Kuntz, P.Geo.	David Willms, P.Eng.
Consulting Specialist - Geology/Mining	Senior Reviewer
Original Signed_______	Knight Piésold Ltd.
Brian Wissent, P.Eng.	Original Signed_______
Senior Mine Engineer - Underground Mining	Ben Peacock, P. Eng.
Original Signed_______	Senior Engineer
Kurt Boyko, P.Eng.	Original Signed_______
Consulting Specialist - Mechanical	Daniel Yang, P. Eng.
	Specialist Geotechnical Engineer
	SRK Consulting (U.S.), Inc.
	Original Signed_______
	Fernando Rodrigues, MMSAQP
	Practice Leader/Principal Consultant -Mining

NI 43-101 Technical Report & Preliminary Economic Assessment	Nordmin Engineering Ltd
Toroparu Gold Project, Guyana, South America	Project # 21125-01
GCM Mining Corp.	Page ii

FORWARD-LOOKING INFORMATION

This document includes certain "forward-looking" information and "forward-looking statements" within the meaning of applicable securities legislation, together, forward-looking statements. All statements, other than statements of historical facts constitute forward-looking statements. Forward-looking statements estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "will", "could", "would", "if", "yet", "potential", "undetermined", "objective", "plan" or similar expressions. Since forward-looking statements are based on assumptions and estimates and address future events and conditions, by their very nature, they involve inherent risk, and uncertainties. Although these statements are based on information currently available to the authors of this Technical Report and the Company, the authors provides no assurance that actual results will meet the expectations set forth herein. Risks, uncertainties, and other factors, known and unknown, involved with forward-looking statements could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this Technical Report include, but are not limited to, the Company's objectives, goals, future plans, statements, exploration results, potential mineralization, estimation of Mineral Resources, exploration, and mine development plans, the timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking statements include, but are not limited to the failure to identify Mineral Resources, failure to convert estimated Mineral Resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, geotechnical challenges, delays in obtaining or failures to obtain required governmental, environmental, or other project approvals, political risks, uncertainties relating to epidemics, pandemics and other public health crises, including COVID-19 or similar such viruses, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in foreign currency exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on the System for Electronic Document Analysis and Retrieval ("SEDAR"). Although the authors believes that the assumptions and factors used in preparing the forward-looking statements in this Technical Report are reasonable, undue reliance should not be placed on such forward-looking statements, which only apply as of the date of this Technical Report, and no assurance can be given that such events will occur in the disclosed time frames or at all. The authors disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as required by applicable law.

NI 43-101 Technical Report & Preliminary Economic Assessment	Nordmin Engineering Ltd
Toroparu Gold Project, Guyana, South America	Project # 21125-01
GCM Mining Corp.	Page i

CAUTIONARY NOTE TO U.S. READERS REGARDING ESTIMATES OF MEASURED, INDICATED AND INFERRED RESOURCES

This Technical Report uses the terms "Measured" and "Indicated" Mineral Resources and "Inferred" Mineral Resources. The Company advises U.S. investors that, while these terms are recognized by the U.S. Securities and Exchange Commission ("SEC") under Regulation S-K subpart 1300, there are differences between the definitions ascribed to such terms under Regulation S-K subpart 1300 and the CIM Standards.

The estimation of "Measured" and "Indicated" Mineral Resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. The estimation of "Inferred" resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. It cannot be assumed that all or any part of a "Measured," "Indicated," or "Inferred" Mineral Resource will ever be upgraded to a higher category.

Under Canadian rules, estimates of "Inferred Mineral Resources" may not form the basis of feasibility studies, prefeasibility studies, or other economic studies, except in prescribed cases, such as in a preliminary economic assessment under certain circumstances. Under SEC rules, estimates of "Inferred Mineral Resources" may not be considered when assessing the economic viability of a mining project, and may not be converted to a mineral reserve. Under U.S. standards, mineralization may not be classified as a "mineral reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. U.S. investors are cautioned not to assume that any part or all of a "Measured," "Indicated," or "Inferred" Mineral Resource exists or is economically or legally mineable. Information concerning descriptions of mineralization and resources contained herein may not be comparable to information made public by U.S. companies subject to the reporting and disclosure requirements under the SEC's Regulation S-K subpart 1300.

NI 43-101 Technical Report & Preliminary Economic Assessment	Nordmin Engineering Ltd
Toroparu Gold Project, Guyana, South America	Project # 21125-01
GCM Mining Corp.	Page ii