Resources

Eau Claire Mineral Resource (June 2015)

CLASSIFICATION TONNAGE
(Mt)
GOLD
(g/t)
GOLD
(koz)
Measured 1.0 7.3 227
Indicated 6.2 3.6 724
Measured & Indicated 7.2 4.1 951
Inferred 5.1 3.9 633

Notes to the Eau Claire Mineral Resource Statement:

  1. Assumed gold price of US$1,300 per gold ounce, using a foreign exchange rate of US$0.90 to C$1.00
  2. Open pit mineral resources are reported at a cut-off grade of 0.5 g/t gold within a conceptual pit shell and underground mineral resources are reported at a cut-off grade of 2.5 g/t gold outside the conceptual pit shell.
  3. Assumed gold recovery of 95%.
  4. The value of tellurium is not considered.

Eastmain Mine Historical Resource
(non-NI 43-101 compliant)

CLASSIFICATION TONNAGE
(Mt)
GOLD
(g/t)
GOLD
(koz)
Historic Resource 0.9 10.0 256
 

Notes to the Eastmain Mine Historic Resource:

These resources are historical estimates dated effective May 31, 1995 and should not be relied upon. These estimates may not be National Instrument 43-101 (“NI 43-101”) compliant. While the company considers this historical estimate to be relevant to investors as it may indicate the presence of mineralization, a qualified person for Eastmain has not done sufficient work to classify the historical estimates as current mineral resources as defined by NI43-101 and the company is not treating this historical estimate as current mineral resources.