Mineral Resource Estimate – 2013

The new mineral resource estimate was prepared by Mercator Geological Services Limited (“Mercator”) of Dartmouth, Nova Scotia in accordance with Canadian Securities Administrators National Instrument 43-101 (« NI 43-101 ») and is based on Canadian Institute of Mining, Metallurgy & Petroleum (“CIM”) standards.

Highlights of the 2013 Mineral Resource Estimate

At a 2.0 g/t gold grade resource cut-off, the new estimate reflects:

  • Measured resources totaling 171,000 tonnes grading 5.39 g/t gold (29,600 contained gold ounces);
  • Indicated resources totaling 2,418,000 tonnes grading 5.60 g/t gold (435,300 contained gold ounces);
  • Combined, the Measured and Indicated categories total 2,589,000 tonnes grading 5.59 g/t gold (465,000 contained gold ounces);
  • Inferred resources totaling 2,543,000 tonnes grading 5.15 g/t gold (421,100 contained gold ounces);
  • A 32% increase in combined Measured and Indicated categories gold ounces and a 20% increase in Inferred category gold ounces relative to the previous resources estimate disclosed in 2009; and
  • Combined the Measured and Indicated categorie and Inferred categorie total 5,132,000 tonnes grading 5.79 g/t gold (886,000 contained gold ounces).

Technical information pertaining to the 2013 mineral resource estimate presented here above was extracted from a new release issued on February 11, 2013, which was  reviewed by Michael Cullen, P.Geo., of Mercator Geological Services Limited, who is an independent Qualified Person as defined under National Instrument 43-101