Sandspring Resources Ltd.

Sep 26, 2018 Updated Mineral Resource Estimate

All Rock Types	Gold Resources			Silver & Copper Resources
Measured & Indicated	Tonnes (000's)	Au (g/t)	Auoz (000's)	Tonnes (000's)	Ag (g/t)	Agoz (000's)	Cu (%)	Cu (M lbs)
Toroparu	227,416	0.90	6,566	227,416	0.84	6,130	0.086	433
SE Zone	13,383	0.94	403	13,383	0.35	152	0.036	11
Sona Hill	11,772	1.04	394	0	n/a	n/a	n/a	n/a
Total Meas. & Indicated	252,571	0.91	7,353	240,799	0.81	6,282	0.084	444
Inferred
Toroparu	116,629	0.74	2,776	116,629	0.07	266	0.040	103
SE Zone	686	0.83	18	686	0.45	10	0.049	1
Sona Hill	11,630	0.95	356	0	n/a	n/a	n/a	n/a
Total Inferred	128,945	0.76	3,150	117,315	0.07	276	0.040	104

Notes on Resource Estimate:

All resources in the September 26, 2018 mineral resource statement are in-pit resources reported within an optimized pit shell (Resource Pit Shell) above an economic cut-off grade of 0.30 g/t Au. The optimized pit shell was determined for Measured, Indicated and Inferred resources using a gold price of US$1,350/oz, a copper price of US$3.00/lb; an average metallurgical recovery of 88.2% for gold, and 81.5% for copper mill feed sent to the copper flotation circuit. The optimized pit shell was determined using an average mining cost of US$1.60/t mined, saprolite processing cost of US$2.50/t, CIL processing cost of US$8.50/t, flotation processing cost of US$10.47/t, and G&A cost of US$1.24/t processed. Other costs included US$125/oz Au for gold refining and royalties, and US$1.036/lb for copper concentrate transportation and smelting with 97% pay for terms. Pit slopes used in the pit optimization were 45°. Copper and Silver resources have not been estimated at Sona Hill.
Mineral Resources are reported in accordance with Canadian Securities Administrators (CSA) National Instrument 43-101 (NI 43-101) and have been estimated in conformity with generally accepted Canadian Institute of Mining, Metallurgy and Petroleum (CIM) "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines;
Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources estimated will be converted into mineral reserves estimate;
Mineral resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding;
While the estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues, the Company is not aware of any such issues;
The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category; and "(000)" = thousands, "g/t" = gram per metric tonne. Tonnes are rounded to the nearest one thousand tonnes, gold to nearest 1,000 oz Au, gold grade to nearest 0.01 g/t Au, and copper to nearest million pounds

NI 43-101 compliant Mineral Resources have not been reported for the Chicharron/Guia Antigua Mining concession by Sandpring or previous operators. Mineralization is defined in the NI 43-101 compliant technical report by Redwood, published on May 14, 2018