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Historical Resource and Reserve Estimates

The reader is referred to the technical report by Karelse et al. (2008) for an extensive overview of historical resource and reserve estimates for the Property.

The following mineral resource estimates are based on prior data and reports prepared by previous operators. The mineral resource estimates have not been verified and the mineral resource estimates, therefore, cannot be treated as NI 43-101 defined resource verified by a qualified person. The historical mineral resource estimates should not be relied upon, and there can be no assurance that any of the mineral resource estimates, in whole or in part, will ever become economically viable.

Historical Resource and Reserve Estimates

Location Classification Ore (tonnes) Grade (g Au/t) Reference
MacLellan Mine
(Main Zone)		 Mineable reserve 1,490,000 7.17 SherrGold (1985)
Dot Lake Zones Reserve 1,270,000 4.11 Kelley (1987)*
MacLellan Mine Remaining diluted reserves 2,422,767 6.05 Neuberger (1989)
MacLellan Mine Remaining diluted reserves 1,061,600 6.30 Strathcona (1989)
MacLellan Mine Reserves at closure 975,900 6.51 Chornoby (1991)
Main & East
Main Zones		 Undefined reserves 932,000 6.00 Granduc Mining (1995)
Nisku 114,900 7.70
Rainbow-Dot 539,000 8,57
Total MacLellan Mine 1,585,900 7.01
Main & East
Main Zones		 Inferred Resource 932,000 6.00 WGM (1996)
Nisku 114,900 7.70
Total MacLellan Mine 1,046,900 6.20
MacLellan Mine
(Main & East Main Zones)		 Measured and Indicated 609,000 5.9 Canadian Mines Handbook (2002)
Inferred Resource 322,500 6.3


* Resource quoted in Manitoba's Science, Technology, Energy and Mines, Mineral Inventory File No. 640, full reference not given.