May 6, 2016

Research #1Copper in California

A Prime Takeover Candidate For Copper‘s Next Bull Market With 2 billion pounds of copper, 750,000 ounces of gold and 25 million ounces of silver in NI43-101 resources, Crown Mining Corp. is opined to be a prime takeover candidate for copper’s next run up. During the last copper bull market, takeovers were occurring at 5 to 10 cents per pound. Crown’s copper is currently valued at 1/10th of a cent per pound, hence a potential 100 bagger. President & CEO Steve Dunn owns 25% of the 20 million shares outstanding, while insiders and friends own another 35%, making this stock one of the tightest held on the Venture Exchange. Rockstone expects the completion of a production study to outline the economics of the project, potentially becoming the catalyst for higher valuations in 2016 and advancing the project to the production stage. Crown has already determined that the mine permitting process should take less than 3 years once started. In this respect, the slogan “timing is everything” may hold true especially for this copper junior, whereas the time appears ripe to position oneself for copper’s next upswing.

Company Details

Crown Mining Corp.Suite 400 - 365 Bay StreetToronto, Ontario, M5H 2V1 Canada Phone: +1 416 361 2827Email: steve@crowngoldcorp.comwww.crowngoldcorp.comShares Issued & Outstanding: 20,032,961

Canadian Symbol (TSX.V): CWMCurrent Price: $0.10 CAD (May 5, 2016)Market Capitalization: $2 million CADGerman Symbol / WKN: Not listed

Inspecting sample locations at #1 level of the historic Superior Mine in California

”The goal is to bring a million electric cars onto the market by 2020. In ear-ly 2016, only 25,500 electric cars and 130,000 hybrids were licensed, so this goal appears to be very ambitious. Ne-vertheless, this is positive news for cop-per demand overall, since the amount of copper in each electric car is significantly higher. Hardly any noticeable short-term effects are expected on the copper mar-ket from this development, however. Ac-cording to the German Copper Institute (DKI), electric cars include three times as much copper as conventional cars with combustion engines. The Fraunhofer Ins-titute estimates that there is about 25 kg of copper in a traditional car.” (Aurubis)

2

rown Mining Corp. is focused on advancing both its 100% con-trolled Superior and Moonlight

Projects in northeast California. Superior has a current NI43-101 compliant inferred resource of 57 million metric tonnes at an average grade of 0.43% copper with 547 million pounds of contained copper in 2 deposits (Superior and Engels). These 2 deposits produced 160 million pounds of copper and 1.9 million ounces of silver re-covered from 4.7 million tons of ore from 1914-1930 (see NI43-101 Technical Report dated November 7, 2014).

About 2 months ago on February 29, Crown took advantage of low copper prices and a depressed junior mining sector, when it acquired the Moonlight Property (primarily against equity), which is adjacent to Crown’s Superior Project. The Moonlight Deposit hosts a current NI43-101 compliant indicated resource of approximately 161 million tons (146.5 million tonnes) averaging 0.324% copper, 0.003 ounces of gold and 0.112 ounces of silver per ton, and an inferred resource of 88 million tons (80 million tonnes) aver-aging 0.282% copper (1.54 billion pounds of contained copper).

Sulfide Ridge rolls into Engels Mine hillside:

Road to Engels:

Research #1 | Crown Mining Corp.

C

3

At current commodity prices, silver and gold made up almost 20% of the mined value when the Engels Mine was in oper-ation (see below image of Engels’ head-frame in 1915 and Superior’s headframe and mill in 1923). Historic production:

• Mined 1915-1930 by California Engels Mining Company.

• Placer Amex worked the entire Lights Creek district 1962-94:– Drilled >400 holes over 60,600 m (198,916 feet)– Calculated over a 4 billion pounds cop-per resource– Dropped property in 1994 with gold focus

• Sheffield Resources, Nevoro and Star-field worked the property from 2004:– Drilled 54 holes– NI43-101 resource at Moonlight of 1.5 billion pounds of copper– Airborne geophysics

• In June 2013, Crown acquired 132 un-patented claims and a lease for the 36 patents covering the Engels and Superi-or Mines:– NI43-101 resource calculation at Su-perior: 500 million pounds of copper– Crown optioned 300 claims covering the Moonlight Deposit in March 2016.

Remaining foundation of the Superior Mill:

Research #1 | Crown Mining Corp.

Project History

4

Favorable Location

• Infrastructure is in place– State Highway 89 is 11 km southwest– Rail is 11 km southwest– Paved road to property– Power lines are 3 km south– Lodgings, supplies, qualified labor nearby– Sacramento deep water port is 290 km

• Plumas County has a mining-friendly jurisdiction

• Elevation is 1,290 to 1,829 m

• Water rights on property

There is a very large, highly trained min-ing-industrial workforce available in North-ern Nevada. Supplies and services for min-ing companies to conduct full exploration and mining development projects are available at Carlin, Elko Winnemucca, and Reno. There are also additional workforce resources in the nearby towns of Quincy and Greenville. Exploration and mining could be conducted year-round, due to the established roads and the projects proximity to the nearby towns. Explora-tion in winter will incur additional costs for regular snow removal.

Geology

• A quartz monzonite intrusive

• 18 km2 area

• 4 bulk tonnage low-grade disseminatedand stockwork copper sulphide deposits

• Initially described as a porphyry; recentwork suggests it may be an IOCG (“Iron-Oxide-Copper-Gold”) deposit

Research #1 | Crown Mining Corp.

5

Moonlight Deposit

In the 1960s, Placer Amex• drilled 199 vertical holes (30,308 m)• calculated a 1.5 billion pound resource• prepared production studies

In the 2000’s, Sheffield• drilled 14 angled holes (3,394 m)• copper grades 44% higher than Placer• calculated:– gold resource of 750,000 ounces– silver resource of 25 million ounces– 23 million tons of 0.48% cu oxide material

Sulfide Ridge Deposit

• Placer Amex identified 1 billion pounds copper in the 1960s (historic; non-NI43-101 compliant)• All 28 Placer holes were vertical• A 1916 angled drill hole reported 0.53% Cu over 112 m• Geochem study supports large system potential (500 x 1,500 m)

Superior Deposit

• Placer Amex drilled 99 holes, but did not assay for gold and silver• 55 million tons at 0.41% copper• 7 high grade veins mined in 1915-1930• Host rock in between veins is mineralized• Open at depth and on strike

Research #1 | Crown Mining Corp.

Sampling by Placer Amex in the 1960s revealed copper

mineralization in between the veins that had been mined; see below Superior Mine Levels,

and especially the 61 m (200 feet) section grading 1.8% copper:

6

Deposit Geology

“Most of the mineralization in the Lights Creek District appears to be related to the tourmaline-rich Lights Creek Stock or relat-ed dikes. While the Engels deposit lies just outside the stock, in the surrounding gab-broic-phase intrusive and metavolcanics, narrow dikes of granitic composition with abundant tourmaline have been noted. These dikes are interpreted to be late stage differentiates of the Lights Creek Stock and often display pegmatitic textures. Mineral-ization in the Lights Creek District area has been characterized as of the porphyry cop-per type. Placer however recognized that the deposits had characteristics which were not typical of porphyry copper deposits and lacked many of the typical features. Storey (1978) noted, “Typical porphyry cop-per-type alteration zonation as illustrated by Lowell and Guilbert is nonexistent.” Some of the early disseminated mineralization at Moonlight and Superior show some similar-ity to the diorite model porphyries common in British Columbia. Many copper deposits which had previously been classified as por-phyry copper type have now been re-char-acterized as belonging to the iron oxide copper type. There is evidence that the Su-perior Project deposits could be included in this group. A number of deposits have been classified as belonging to the iron oxide copper type. These deposits range in age from Precambrian to Tertiary and include Olympic Dam in Australia, Candelaria and Mantos Blancos in Chile, Luz del Cobre in Mexico, Marcona in Peru and Minto in the Yukon. All of these deposits show significant tonnages of plus 2% copper mineralization.

EngelsThe Engels deposit lies outside the Lights Creek Stock, immediately adjacent to its eastern margin in an area of represented by both gabbroic-phase intrusives and roof-pendant metavolcanics. Engels is a structurally-controlled tabular shear-zone hosted deposit striking north-east and dip-ping steeply to the south east. Mineralized widths range from 5m to over 20m. The historically mined total strike length for the main ore shoot ranges from 100m to 250m, while a narrower ore shoot to the south along strike was mined at lengths from 20m up to 60m. The vertical extent mined is approximately 580m. Mineraliz-ation in the Engels Mine area occurs in a

Research #1 | Crown Mining Corp.

7

390m by 200m pipe like zone. Mineralization is as-sociated with brecciated zones that exhibit features of both an intrusion breccia and a hydrothermal breccia. A diorite or quartz diorite has intruded a pendant of plagioclase phenocryst-rich metavol-canic in a complex mass of dikes and dikelets. The fine grained matrix of the metavolcanic has often been altered to biotite in the mine area. Primary mineralization consists of zones of silica+mag-netite+-biotite hornfels alteration with varying amounts of disseminated bornite and chalcopyrite.

This mineralization exhibits metasomatic textures and is most intense at or near the numerous con-tacts of the quartz diorite and metavolcanic. The disseminated copper minerals are often very abun-dant and locally coalesce. Copper grades exceeding 15% Cu have been encountered in several 2m core intercepts. The relationship of mineralization to zones of breccia and contacts between the quartz diorite and metavolcanic is evident in surface expos-ures. Calc-silicate minerals especially epidote and locally garnet are also present. The specific gravity varies widely. Magnetite or sulfide-rich rock often has a specific gravity of more than 2.8. Much of the copper mineralization at Engels is strongly oxidized to a depth of 70 meters. Assay analysis for sulfur-ic acid soluble copper in a portion of samples from the modern (post 2004) drilling indicates copper ox-ides representing 90% of total copper within these depths. Copper oxide minerals consist primarily as malachite with lesser chryscolla and azurite and in copper bearing limonites and clays. Electron micro-probe work indicates some copper occurs as re-placement of potassium in biotite.

Typical oxidized copper bearing silica hornfels shows a specific gravity of 2.5. Very strongly weathered metavolcanic and diorite typically show a specific gravity of 2.3. The principal sulfide minerals consist of bornite and chalcopyrite hosted in a hornblende gabbro body. Younger quartz diorite and quartz monzonite bodies are associated with the gabbro and are considered to have played an important role in the placement of the copper mineralization. The deposit appears to splay to the northwest in the upper 200m with widths increasing upward. Fig-ure 6 presents a long section of the Engels deposit as it was mined. Figure 7 presents a cross section through Engels showing the composited drill hole intercepts from the Starfield drilling in 2009 and 2010. These intercepts indicate that significant material of the tenor historically mined under-ground remains within 100 meters of the surface. These drill holes are included in the resource esti-mate prepared for this report and inform the esti-mate for Engels.

Research #1 | Crown Mining Corp.

Inside Engels #3 level

Waste rock pile at Engels Glory Hole

8 Research #1 | Crown Mining Corp.

Adit to Engels #3 level Edge of Glory Hole at Superior

Superior Portal to #1 level Superior’s F vein from #1 level

Beside ore chutes at L vein on #1 level

Miners graffiti at K vein on #1 level

9

SuperiorThe Superior deposit lies within the Lights Creek Stock near the south-eastern margin and south of Engels. The deposit is hosted within the quartz monzonite, however ex-posures of more mafic units interpreted to be rafted zenoliths from the intruded host rock have been observed near the south-ern extent of exposure.

The mineralization at Superior is hosted in the Lights Creek Quartz Monzonite and minor generally flat-lying diabase dikes. The quartz monzonite is generally more equigranular and less potassium feld-spar-rich than that observed at Moonlight.Alteration at Superior includes both silici-fication and potassic alteration. As at En-gels magnetite appears to be a significant alteration mineral as well. Also in common with Engels there is very little pyrite ob-served at Superior.

There are significant copper oxides de-posited on the exposed surfaces of the underground workings at Superior. These appear to the Author to be the result of oxidation and re-deposition from weath-ering dating from the period of active min-ing. Sequential copper assaying has not been done, however Superior appears to be largely un-oxidized.

Disseminated copper mineralization at Superior, revealed by drilling and expos-ure in underground workings, lies within a roughly circular area about 610 meters in diameter. This mineralization consists of finely disseminated chalcopyrite and lesser bornite. This disseminated mineral-ization typically runs 0.1-0.3% copper and copper minerals are typically associated with tourmaline. Within this disseminated mineralization are more than ten tabular brecciated structures (veins) that were mined up to 244 meters along strike, 183 meters down dip and 3-7 meters wide.

There are two predominate trends to the breccia-veins. Veins trend N-S and dip to the east and there are a number of essen-tially flat lying veins. Mineralization in the breccia-veins consists of magnetite-actin-olite-minor quartz-siderite-bornite-chal-copyrite. The historic mill feed from these stopes averaged about 2.2% copper. These veins and the stockworks between them de-fine a high grade core to the Superior deposit.

Historic mining at Superior focused on the chalcopyrite rich breccia veins. The sur-rounding body of disseminated copper mineralization, ignored as uneconomic in the past was subsequently defined from work completed by Placer Amex. They drilled approximately 96 drill holes repre-senting approximately 16,500 meters of diamond drilling (including 1,165 meters of rotary drilling) from 1964-1968.

Figure [on bottom of page 5] presents a schematic cross section through Superior showing the distribution of the breccia veins as indicated by the stopes (magenta) as well as selected underground sampling results.

Sulfide RidgeThere is very little documentation regard-ing the geology of the Sulfide Ridge de-posit. There is little outcrop visible. What can be interpreted comes largely from the very widely-spaced 28 drill holes complet-ed by Placer Amex. A geological map of the Sulfide Ridge, Engels area prepared in

1965 by Placer Amex shows Sulfide Ridge to be hosted within the quartz monzon-ite of the Lights Creek Stock on the basis of small scattered outcrops. Small pros-pect shafts and pits dating from the early 20th century provide additional scattered points of reference.

The geology and mineralization at Sulfide Ridge appears to be most similar to Su-perior and was characterized by Placer Amex geologists as a porphyry system. The widespaced (100-200m) drilling indi-cates disseminated copper mineralization similar to that found at Superior, how-ever no occurrences of the high-grade breccia-veins mined at Superior has been encountered in the drill holes. That said, the drilling that has been done defines sig-nificant copper mineralization with copper grades in 5 meter composites exceeding 0.3% Cu over 1500 meters north-to south and 500m east to west.”

(Source: Technical Report 2014)

Research #1 | Crown Mining Corp.

10

Management, Directors and Consultants

Stephen Dunn (President, CEO and Director)

Mr. Dunn has over 30 years of experience in the investment industry having worked with a large Canadian insurance com-pany, a Canadian Schedule A bank, and two Canadian investment dealers. He has extensive experience in the capital mar-kets and has been a director of numerous resource companies. Mr. Dunn earned his BA and his MBA from the University of Western Ontario.

Rich Morrow; MBA (CFO, Director)

Mr. Morrow was formerly Chief Execu-tive of a resource focused company that was sold to Chinese investors. He has a strong background in Capital Markets and in Corporate Development (M&A). During a thirty year business career, primarily with Canadian based investment dealers and latterly in the corporate sector, he has had a key role in initiating and closing several successful IPO’s and numerous fi-nancings, acquisitions and divestments. His international business experience includes negotiations, transactions and investments in South America, Europe, Africa and China.

Johnny Oliveira (Accounting)

Mr. Oliveira is a Chartered Accountant and practiced professionally as a senior audit manager for a boutique accounting firm in Mississauga from 2002-2010. Mr. Oliveira holds an Honours Bachelor in Business Administration from the Univer-sity of Wilfrid Laurier.

James Fairbairn; CA, ICD.D (Director)

Mr.Fairbairn has more than 20 years of experience with publicly-traded compan-ies. He is a Chartered Accountant, having obtained his CA designation in 1987 and is an Institute-certified Director. Jim holds a B.A. from the University of Western On-tario. Jim’s valued experience touches on corporate governance and financial re-porting with respect to junior mining ex-ploration companies. He is a Director of several junior mining companies.

George Cole (Director)

Mr. Cole was Vice President, Exploration for Cominco American until he retired in 2001. He has subsequently served in sen-ior management and board positions for several junior mining companies, most recently with Trelawney Mining & Explor-ation and Rae-Wallace Mining Company.

John Schaff; B.Sc., Geologist (Geological Consultant)

Mr. Schaff has over 20 years of explor-ation experience with Kennecott Explor-

ation Co., Homestake Mining Co., Echo Bay Alaska Inc., and Noranda Exploration Inc., as well as numerous junior explora-tion companies.

Objectives

1. Production Studies during 2016

2. Minimize share dilution until markets recover

3. Partner with a copper miner by 2018

Research #1 | Crown Mining Corp.

11

In focus“April was the month of association con-ventions, conferences and trade fairs. In the copper industry, for example, these in-cluded the traditional Cesco Week in Chile (the conference of the Centro de Estudios del Cobre y la Minería), the Wire and Tube trade fair in Düsseldorf and the gener-al meeting of the Association of German Metal Traders in Dresden. While participa-tion in these kinds of events provides only parts of the puzzle, when pieced together, they offer a good overall view of the mood on the copper market. Once again, this view is generally disjointed. The situation fills some with confidence and others with doubt about the existing risks.

Economic situationChinese industry sent out positive signals in late April. The national statistics office reports an 11.1 % increase in company profits in the industrial sector for March. This is the largest increase since July 2014. This trend corresponds to the figures on the development of industrial production and fixed asset investment, which were published in mid-April. The US Federal Re-serve was restrained during their last meet-ing in April and left the interest rate un-touched. However, there were signals that an increase in the federal funds rate could be approaching, even as global economic risks were pointed out once again.

Copper essentialsThe copper price trend wasn’t the result of any one particular factor in April. Specu-lative activities in the commodities sector were especially prevalent, with crude oil, iron ore and steel front and center. Their distinct price increases lifted the entire raw material sector, which also benefited copper, according to different market re-ports. Some reports referred to Chinese import figures for refined copper in March as a fundamental aspect, as they reached an outstanding level of 458,000 t. Market commentaries also pointed out the posi-tive trend in the Chinese real estate sector.

At the same time, the price recovery was accompanied by doubts and the question of the basic justification of this develop-ment. These doubts were raised due to the increase in copper inventories in Chinese bonded warehouses in particular, which was directly attributed to the high imports. Furthermore, Chinese traders and smelt-ers caused upheaval with their consider-ations of exporting more copper. In light of the current arbitrage situation between the SHFE and the LME, however, this

doesn’t offer much incentive. Last but not least, there have been higher transaction costs that are intended to counter the extremes in Chinese commodity futures.

• Price trendThe copper price was not able to maintain the level of late March into the first half of April. Following an LME settlement price of US$ 4,940/t on March 30, the quota-tions fell to US$ 4,645/t on April 11. The price recovered again afterward, reaching

Research #1 | Crown Mining Corp.

12

US$ 5,000/t. The backwardation, a situa-tion in which spot prices exceed forward prices, remained but decreased to about US$ 10/t. The Chilean Copper Commission maintained its 2016 average price forecast of US$ 2.15/lb and US$ 4,740/t.

• Copper raw materialsIn Codelco’s El Teniente mine in Chile, production was started up again on April 21 after a compulsory five-day break. The media reports a production loss of 5,000 t of copper per day. Heavy rains led to land-slides. The loss isn’t perceptible on the concentrate market. On the contrary, there was a good supply, especially in spot busi-ness in the second half of April, which was bolstered by traders’ increased willingness to sell. The good deliveries from the new Las Bambas mine in Peru and from the pro-duction expansion of the Peruvian Cerro Verde mine also had an impact. According to Metal Bulletin, traders were purchasing concentrates less aggressively as well. In this environment, treatment and refining charges tend to increase. During the gen-eral meeting of the Association of German Metal Traders on April 21, 2016, the picture presented for the recycling business was bleak. The association represents about 80 % of the German companies that trade and recycle non-ferrous metals. A total of 23 % of the companies assess the current busi-ness situation as worse than the start of the prior year, and 13 % anticipate that the situ-ation will improve in the coming months. The current supply of non-ferrous scrap on the German market was described as insuffi-cient. Nearly half of the surveyed compan-ies said that there was a shortage of copper, aluminum and zinc on the recycling market.

• ProductionDuring the Q1 2016 reporting season of large mining companies, good production outlooks prevailed. Chile was one example: Codelco, the world leader with a copper output of 1.732 million t last year, maintains its production target for 2016 despite storm damage at the Andina and El Teniente mines (see Copper raw materials). A Q1 output that is 14,000 t higher than expected would compensate for the production losses, ac-cording to the company’s CEO. Antofaga-sta is sticking to its annual production tar-get. Although the company has reported a lower output for Q1 2016 compared to Q4 2015, it is 7.3 % above Q1 2015. The

Chilean Copper Commission confirmed its January forecast and anticipates a copper output of 5.77 million t in Chile in 2016 and 5.95 million t in 2017. The total was 5.76 million t in 2015. On the smelter side, Aur-ubis Bulgaria started its maintenance shut-down on April 14, which is planned to take 50 days. The annual throughput of cop-per concentrate at this site is 1.1 million t.

• InventoriesThere was a special focus on the inven-tory trend in April, as it was expected to provide an indication of copper demand. This proved to be a challenge, however, since there were considerable shifts with-in the storage system with regards to the exchanges and the individual regions. First, the metal exchanges: here, there the total volume declined by about 30,000 t. On April 26, around 545,000 t of copper were recorded, compared to the start of the month with 577,000 t. The inventory in the SHFE warehouses decreased by 37,000 t to 332,000 t, but the inventory in the LME’s Asian warehouses rose by 31,000 t at the same time, particularly in Singapore. This was likewise accompanied by a reduction of roughly 15,000 t in the LME’s US inventor-ies. There was warehousing in the Chinese bonded warehouses in April as well, which was largely due to the high copper im-ports to China as well as copper deliveries from the country’s smelters. Overall, about 100,000 t supposedly went this route from mid-March to mid-April, so the Shanghai bonded warehouse most recently held an estimated 560,000 to 570,000 t of copper.

• Product marketsThe international Wire and Tube trade fair, which took place in Düsseldorf in April, is the leading trade fair in the wire, cable and tube industry and is therefore also interest-ing as a gauge of the mood among cop-per product manufacturers. According to the event organizers, the exhibitors were very pleased with the transactions they were able to close. The German Electrical and Electronic Manufacturers’ Association (ZVEI) currently assumes that production in the German electrical and electronics in-dustry will grow by 1 % in 2016 (2015: 1.3 %). When it came to exports from the in-dustry, the US took the first place position from China in 2015, with 16.4 % growth to € 15.9 billion. In Germany, the federal gov-ernment and industrial representatives agreed on a buyers’ premium for electric cars and hybrids. The funding is slated to start in mid-May 2016. The goal is to bring a million electric cars onto the market by 2020. In early 2016, only 25,500 electric cars and 130,000 hybrids were licensed, so this goal appears to be very ambitious. Nevertheless, this is positive news for cop-per demand overall, since the amount of copper in each electric car is significantly higher. Hardly any noticeable short-term effects are expected on the copper market from this development, however. Accord-ing to the German Copper Institute (DKI), electric cars include three times as much copper as conventional cars with combus-tion engines. The Fraunhofer Institute es-timates that there is about 25 kg of copper in a traditional car.” (Source: Aurubis)

Research #1 | Crown Mining Corp.

13

Disclaimer and Information on Forward Looking Statements:All statements in this report, other than state-ments of historical fact should be considered forward-looking statements. Much of this re-port is comprised of statements of projection. Statements in this report that are forward looking include that Crown Mining Corp. or any other company or market will perform as expected; that Crown Mining Corp. will com-plete production studies; that Crown Mining Corp. will complete the recently announced financing; that Crown Mining Corp. or its part-ner(s) can and will start producing and selling any kinds of products; that the company can raise sufficient funds for a transaction, explor-ation and corporate matters; that any of the mentioned plans, comparisons with other companies, regions or numbers are valid or economic. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in these forward-looking statements. Risks and uncertainties respecting lithium and resource companies are generally disclosed in the an-nual financial or other filing documents of Crown Mining Corp. and similar companies as filed with the relevant securities commis-sions, and should be reviewed by any read-er of this report. In addition, with respect to Crown Mining Corp., a number of risks relate to any statement of projection or forward statements, including among other risks: the receipt of all necessary approvals and per-mits; the ability to conclude a transaction to start or continue exploration; uncertainty of future market regulations, capital expendi-tures and other costs; financings and addi-tional capital requirements for exploration, development, construction, and operating of a facility; the receipt in a timely fashion of fur-ther permitting for its legislative, political, so-cial or economic developments in the jurisdic-tions in which Crown Mining Corp. carries on business; operating or technical difficulties in connection with production or development activities; the ability to keep key employees, joint-venture partner(s), and operations fi-nanced. There can be no assurance that such statements will prove to be accurate, as ac-tual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking in-formation. Rockstone and the author of this report do not undertake any obligation to update any statements made in this report.

Disclosure of Interest and Advisory Cautions: Nothing in this report should be construed as a solicitation to buy or sell any securities mentioned. Rockstone, its owners and the author of this report are not registered broker-dealers or financial advisors. Before investing in any securities, you should consult with your financial advisor and a registered broker-dealer. Never make an investment based solely on what you read in an online or printed report, including Rockstone’s report, especially if the investment involves a small, thinly-traded company that isn’t well known. The author of this report is paid by Zimtu Capital Corp., a TSX Venture Exchange listed investment company. Part of the author’s responsibilities at Zimtu is to research and report on companies in which Zimtu has an investment. So while the author of this report is not paid directly by Crown Mining Corp., the author’s employer Zimtu will benefit from appreciation of Crown Mining Corp.’s stock price. The author does NOT own equity or any other interests in Crown Mining Corp., but may initiate a stock position shortly. However, the authour owns shares of Zimtu Capital Corp., and thus would also benefit from volume and price appreciation of its stocks. Hence, multiple conflicts of interests exist. Therefore, the information provided herewithin should not be construed as a financial analysis or recommendation but as advertisement. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. Rockstone and the author of this report do not guarantee the accuracy, completeness, or usefulness of any content of this report, nor its fitness for any particular purpose. Crown Mining Corp.has not reviewed the content of this report prior to publication. Lastly, the author does not guarantee that any of the companies mentioned in the reports will perform as expected, and any comparisons made to other companies may not be valid or come into effect. Please read the entire Disclaimer carefully. If you do not agree to all of the Disclaimer, do not access this website or any of its pages including this report in form of a PDF. By using this website and/or report, and whether or not you actually read the Disclaimer, you are deemed to have accepted it. Information provided is educational and general in nature.

Analyst Profile and Contact

Stephan Bogner (Dipl. Kfm. FH)Mining Analyst Rockstone Research 8050 Zurich, Switzerland+41-44-5862323sb@rockstone-research.com

Stephan Bogner studied at the International School of Management (Dortmund, Germany), the European Business School (London)

and the University of Queensland (Brisbane, Australia). Under supervision of Prof. Dr. Hans J. Bocker, Stephan completed his diploma thesis (“Gold In A Macroeconomic Context With Special Consideration Of The Price Formation Process”) in 2002. A year later, he marketed and translated into German Ferdinand Lips‘ bestseller („Gold Wars“). After working in Dubai for 5 years, he now lives in Switzerland and is the CEO of Elementum International AG specialized in duty-free storage of gold and silver bullion in a high-security vaulting facility within the St. Gotthard Mountain Massif in central Switzerland.

Rockstone is a research house specialized in the analysis and valuation of capital markets and publicly listed companies. The focus is set on exploration, development, and production of resource deposits. Through the publication of general geological basic knowledge, the individual research reports receive a background in order for the reader to be inspired to conduct further due diligence. All research from our house is being made accessible to private and institutional investors free of charge, whereas it is always to be construed as non-binding educational research and is addressed solely to a readership that is knowledgeable about the risks, experienced with stock markets, and acting on one’s own responsibility.

For more information and sign-up for free newsletter, please visit: www.rockstone-research.com

Research #1 | Crown Mining Corp.