NEW GOLD MINERALIZATION
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Current Resources vs. Dec. 14, 2010 Resources at US$1,200/oz Gold 1
Open Pit Resources, $1,200 Shell 1
Underground Resources at US$1,200/oz Gold 1
1 The resource calculations were completed by Independent Mining Consultants of Tuscon, Arizona under the direction of Mr. John Marek, PE, an independent Qualified Person ("Q.P.") pursuant to February 7, 2012 News Release.
Mineable Reserves at $950 Gold 2
| ESTIMATED MINABLE PROVEN & PROBABLE RESERVES at US$950 Gold |
|
| Tonnes
(000s) | Gold Grade
(g/t) | Contained Gold
(000 oz) |
| PROVEN RESERVE | 19,592 | 2.19
| 1,382 |
| PROBABLE RESERVE | 10,917 | 1.82 | 636 |
| PROVEN & PROBABLE RESERVE | 30,509 | 2.06 | 2,018 |
2 A Feasibility Study was completed and complied February 2011 by M3 Engineering & Technology Corporation (“M3”) with the participation and contribution of Independent Mining Consultants (“IMC”) and AMEC Americas Limited (“AMEC”). Joshua Snider, P.E., Thomas L. Drielick, P.E., Lee “Pat” Gochnour, M.M.S.A., John Marek, P.E. and Derek Wittwer, P.E. are responsible for preparing the Technical Report. Each of the above referenced persons is a “qualified person” as defined in National Instrument 43-101 — Standards of Disclosure for Mineral Projects. The results of the Feasibility Study were announced February 9, 2011 and were filed on www.sedar.com February 22, 2011.