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SUITE 900T

UPDATFOR

0 - 390 BAY STRETelephone (1) (41

NORONT

ED MINERR THE EAG

MCFAULDJAMES

Effective Signing D

Charleyng., Alan J.

Richard Jane

ET, TORONTO ON6) 362-5135 Fax

T RESOURC

NICAL REON THE

RAL RESOUGLE’S NESDS LAKE PBAY LOW

ARIO, CAN

Date: MarcDate: April

y Murahwi,San MartinM. GowansSpooner, P

NTARIO, CANADA(1) (416) 362 5763

CES LTD.

URCE ESTST PROPERPROJECT

WLANDS NADA

ch 4, 2011 18, 2011

, P.Geo. n, MAusIMMs, P.Eng. .Geo.

A M5H 2Y2 3

TIMATE RTY

1.0 1.11.2

1.31.41.51.61.71.81.9

1.11.11.11.11.1

2.0 2.12.2

2.32.4

4.0 4.14.24.3

5.15.2

SUMMA1 INTRO2 TERM1.2.1 Qu3 PREVI4 LOCAT5 CLAIM6 HISTO7 GEOLO8 EXPLO9 SAMPL

PREPA10 DATA 11 MINER12 MINER13 INTER14 RECOM1.14.1 Ge1.14.2 M1.14.3 M1.14.4 Bu

INTROD1 PREVI2 TERM2.2.1 Qu2.2.2 Si2.2.3 Us3 SOURC4 UNITS

RELIAN

PROPER1 LOCAT2 CLAIM3 ENVIR

ACCESSINFRAST

1 ACCES2 CLIMA

ARY .............ODUCTIONS OF REFEualified PersIOUS TECHTION .........

MS ..............ORY ............OGY AND MORATION .LING METH

ARATION, AVERIFICA

RAL PROCERAL RESOU

RPRETATIOMMENDATeology and M

Metallurgy ....Mining/Devel

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DUCTION AIOUS TECHS OF REFEualified Persite Visits .....se of ReportCES OF INF

S AND CUR

NCE ON OT

RTY DESCRTION .........

MS ..............RONMENTAO-ECONOM

SIBILITY, CTRUCTURSS ..............ATE AND P

.................... ...................RENCE ......sons and Site

HNICAL RE............................................................MINERALI....................HOD AND AANALYSES

ATION .........ESSING ANURCE ESTI

ON AND COTIONS .........Mineral Reso....................lopment Planurther Work .

AND TERMHNICAL RE

RENCE ......sons .................................t ...................FORMATIO

RRENCY .....

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....................e Visits ........PORTS ...................................................................IZATION ........................APPROACH

S AND SEC....................

ND METALLIMATE ........ONCLUSION....................ources .............................ns ....................................

MS OF REFPORTS .......................................................................................

ON ...................................

ERTS .........

AND LOCA........................................

TTING, MANDERATIONS

LOCAL RHYSIOGRAP

....................APHY .........

....................

....................H, SAMPLE

CURITY ...........................LURGICAL....................NS ...................................................................................................................

ERENCE ..............................................................................................................................................

....................

ATION ................................................

ANAGEMENS .................

RESOURCEPHY ...................................................

....................

....................E ........................................

L TESTWOR............................................................................................................................................

....................

....................NT AND ....................

ES, ............................................................

....................

....................RK ..........................................................................................................................................................

....................

......... 1

......... 2

......... 4

......... 5

......... 6

......... 8

......... 9

....... 10

....... 11

....... 12

....... 15

....... 16

....... 17

....... 27

....... 28

5.35.4

7.0 7.17.27.3

9.0 9.19.2

10.0 10

3 INFRA4 FLORA

HISTOR

GEOLOG1 REGIO2 LOCAL3 LOCAL7.3.1 Ea7.3.2 Bl7.3.3 Tr7.3.4 AT7.3.5 Th

DEPOSIT

MINERA1 MASSI2 NET-T

EXPLOR.1 AIRBO10.1.1 2010.1.2 2010.1.3 2010.1.4 2010.1.5 20

A10.1.6 20

A.2 GROU10.2.1 2010.2.2 2010.2.3 20

D10.2.4 2010.2.5 20

Su10.2.6 2010.2.7 20.3 DIAMO10.3.1 2010.3.2 2010.3.3 2010.3.4 20

ASTRUCTUA AND FAU

RY ................

GICAL SETONAL GEOLL GEOLOGL DEPOSITagle’s Nest Dlackbird Depriple J Gold T12 Nickel-hunderbird V

T TYPES ...

ALIZATIONIVE SULPH

TEXTURED

RATION .....ORNE GEOP003 Fugro A007 Noront A008 VTEM A009 Gravity 009 Z-Axis t

Airborne Surv009 High Re

Airborne SurvUND GEOPH004 Ground 006 Condor D007 Magnetieposit .........

007 Gravity 008 Magnetiurveys ........010 Surface 010 Surface OND DRILL006 Probe D007 and 2008009 Noront D010 Noront D

RE ..............UNA ............

....................

TTING .......LOGY .........

GY ................TS AND MINDeposit ........posit ............Mineral OccCopper Min

Vanadium-T

....................

N .................HIDES .........

AND DISS

....................PHYSICS ...

Airborne SurvAeroTEM IIAirborne SurGradiometrytripper Electrvey ..............esolution Aerveys .............HYSICS .......Magnetic anDiamond Cocs, HLEM a....................Survey ........c, VLF, HLE....................EM – CroneEM – LamoLING ..........iamond Dril8 Noront DiaDiamond DrDiamond Dr

....................

....................NERAL OC........................................currence ......neral Occurreitanium-Iron

....................

....................SEMINATED

....................

....................vey ..............I Helicopterrvey ............y Airborne Sromagnetic G....................romagnetic G........................................nd Horizontaorp. In-fill Gand Gravity S........................................EM, Gravity....................e SQUID sysontagne UTE....................ll Program ...amond Drill

rill Program .rilling Progra

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....................CCURRENC

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....................

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Ground MagnSurveys ove........................................y and Large ....................stem ............

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....................

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....................l Survey – ....................d VLF-EM ........................................Survey ........netic Surveyer Eagle’s Ne........................................Loop TDEM................................................................................................................................................................

....................

....................y ...................est ........................................

M ................................................................................................................................................................

....... 29

....... 30

....... 32

....... 33

....... 34

....... 35

....... 36

....... 37

....... 38

....... 39

....... 40

....... 41

....... 42

....... 43

....... 44

12.0 121212

13.0 131313131313

14.0 14141414

16.0 16

.4 OTHER10.4.1 2010.4.2 20.5 RESUL10.5.1 Ea

DRILLIN

SAMPLI.1 CORE .2 SURVE.3 MICON

SAMPLE.1 ALS C.2 SGS M.3 ACTLA.4 SECUR.5 QA/QC.6 MICON

DATA V.1 P&E D.2 MICON.3 SMEE .4 GOLD14.4.1 Co14.4.2 Co14.4.3 Ac14.4.4 Re14.4.5 Re.5 MICON

ADJACE

MINERA.1 SGS-M16.1.1 Co16.1.2 Te.2 SGS-M

2010/216.2.1 M16.2.2 M.3 RECOV.4 ON-GO

R EXPLORA008 Drill Ho009 to PresenLTS OF FIEagle’s Nest D

NG ..............

ING METHLOGGING

EYING OF N COMMEN

E PREPARAHEMEX ....

MINERAL SEABS ...........RITY ..........C .................N COMMEN

ERIFICATDATA VERIN DATA VEAND ASSOER DATA Vore Loggingollar Surveyctlabs Visit.eview of Dateview of QAN DATA VE

ENT PROPE

AL PROCEMS PRELIMomposite Saestwork Resu

MS FEASIBI011 ............

Metallurgical Metallurgical

VERY ESTIOING TEST

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ELD PROGRDeposit ........

....................

HOD AND AAND SAMPDRILL HOLNTS ............

ATION, AN....................ERVICES A............................................................NTS ............

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A/QC PrograERIFICATIO

ERTIES .....

SSING ANDINARY TES

amples ..........ults ..............ILITY STUD....................Samples .....Testwork RIMATES .....

TWORK .......

ORK .............ys .................e EM SurveyRAMS ..............................

....................

APPROACHPLING PROLES .................................

NALYSES A....................

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ON ..............ONSULTIN

TION ...........e Verification ..........................................................

am ................ON 2010/20

....................

D METALLSTWORK P........................................DY TESTW........................................esults ..................................................

....................

....................ys ........................................................

....................

H .................OCEDURES........................................

AND SECU....................AL PROCED................................................................................

....................S NEST DEP....................

NG REVIEW....................n .................................................................................................

011 ...............

....................

LURGICALPROGRAM ........................................

WORK PROG....................................................................................................

....................

....................S ..........................................................

URITY .............................DURES ......................................................................................

....................POSIT ............................

W ..............................................................................................................................................................

....................

L TESTWO2009/2010 ..........................................

GRAM ....................................................................................................

....................

ORK ........................................................................

....................

....... 44

....... 45

....... 48

....... 53

....... 54

....... 55

....... 56

....... 57

....... 58

....... 59

....... 61

....... 62

....... 63

....... 65

....... 66

....... 67

....... 68

....... 69

....... 72

....... 76

17.0 1717

18.0 18

20.0 20202020

Appe Appe Appe

MINERA.1 BLACK.2 EAGLE17.2.1 Da17.2.2 Es

OTHER .1 META

INTERPR

RECOM.1 GEOLO.2 META.3 MININ.4 BUDG

REFERE

DATE AN

CERTIFI

endix 1

endix 2

endix 3

AL RESOURKBIRD CHRE’S NEST Matabase Descstimation De

RELEVANAL MARKET

RETATION

MMENDATIOGY AND M

ALLURGY ..NG/DEVELOGET FOR ON

ENCES ........

ND SIGNA

ICATES.....

PopulaLog H

Variog

Typica

RCE AND MROMITE RE

MINERAL Rcription .......etails ............

NT DATA AT OVERVIE

N AND CON

IONS ...........MINERAL R....................OPMENT PLN-GOING W

....................

ATURE PAG

....................

ation Histogristograms ...

grams a) Dow b) Ma

al Level Sect

MINERALESOURCE ..RESOURCE........................................

AND INFOREW ..............

NCLUSION

....................RESOURCE....................LANS .........

WORK .........

....................

GE ...............

....................

PPENDICE

rams and ....................

wn-Hole Vaain Variogra

tions ............

L RESERVE....................

E ESTIMATE........................................

RMATION .....................

NS ...............

....................ES ...........................................................................

....................

ariograms ams ..............

....................

E ESTIMAT....................E .........................................................

....................

TES .............................................................................................

....................

.. At end of r

....... 77

....... 78

....... 79

....... 94

....... 96

....... 98

....... 99

..... 100

..... 101

..... 102

report

1.1 Su

1.2 ECo

1.3 Bu

2.1 Li

4.1 Li

11.1 Su

11.2 Su

16.1 M

16.2 M

16.3 M

16.4 Gr

16.5 Fl

17.1 Su

17.2 Pr

17.3 Su

17.4 Su

17.5 Se

17.6 Se

17.7 Se

17.8 Se

17.9 Ea

17.10 Su

18.1 W

19.1 ECo

20.1 Bu

ummary Tab

agle’s Nest, ompared wit

udget for On

ist of Abbrev

ist of Noront

Claims Hostin

ummary of D

ummary of M

Metallurgical

rinding and A

otation Lock

ummary of th

rimary Statis

ummary Stat

ummary Res

earch Ellipso

earch Ellipse

agle’s Nest D

ummary Tab

World Produc

agle’s Nest, ompared wit

udget for On

ble of the Eag

Percentage th March 9, 2

n-going Wor

viations .......

t Claims ......

ng Noront’s

Diamond Dri

Major Interse

Composite H

Composite S

Abrasion Te

ked Cycle Te

he Blackbird

stics of Raw

tistics on Co

ults of Main

oid Paramete

e Directions .

Deposit Reso

ble of the Ea

tion of Nick

Percentage th March 9, 2

n-going Wor

ist of Table

gle’s Nest D

Increase in M2010 Estima

rk During 20

....................

Currently K

illing Listed

ections, Eagl

Head Analys

Sample Drill

Sample Ana

est Results ...

est Results ..

d Chromite M

Assay Data

mposite Sam

n Zone Vario

ers for Ni, Cu

ers for Au ....

ers for Pt ......

....................

ources .........

agle’s Nest M

kel, Copper, P

Increase in M2010 Estima

rk During 20

Deposit Reso

Mineral Resate ...............

011 ...............

....................

Known Depo

by Year for

le’s Nest Dr

ses ...............

l Holes ........

alyses ...........

....................

Mineral Reso

...................

mples ...........

ography .......

u, and Pd ....

....................

Mineral Reso

Platinum an

Mineral Resate ...............

011 ...............

urces ...........

source Param....................

....................

osits .............

r Each Projec

rilling ...........

....................

ource...........

....................

ource Estima

nd Palladium

source Param....................

....................

meters ....................

....................

ct.................

....................

ate ...............

m ...................

meters ....................

....................

.......6

.......7

.......9

.....12

.....18

.....27

.....48

.....49

.....67

.....69

.....70

.....72

.....74

.....77

.....81

.....83

.....84

.....85

.....86

.....87

.....91

.....93

.....95

.....97

.....99

Figure

e 1.1 M

e 1.2 Lo

e 4.1 M

e 4.2 Lo

e 4.3 Ri

e 7.1 Re

e 7.2 M

e 7.3 M

e 16.1 Lo

e 16.2 Fl

e 17.1 Cu

e 17.2 Eaan

e 17.3 Hi

e 17.4 Ea

e 17.5 Sc

e 17.6 Re

e 17.7 Re

e 17.8 Sw

McFaulds Lak

ocations of N

McFaulds Lak

ocations of N

ing of Fire P

egional Geol

McFaulds Lak

Map of ENB M

ocked Cycle

otation Lock

umulative Pr

agle’s Nest 3nd Diamond

istogram Sho

agle’s Nest d

catter Plot of

esource Mod

esource Bloc

wath Plots fo

ke Project Lo

Noront Prope

ke Project Lo

Noront Prope

Property Map

logical Map

ke Local Geo

Mineral Occ

Test Flowsh

ked Cycle Te

robability Pl

3D IsometricDrill Covera

owing Distri

deposit Solid

f Nickel Gra

del Categoriz

ck Model Sh

for the Eagle

ist of Figure

ocation ........

erties, McFa

ocation ........

erties, McFa

p Including t

...................

ology ...........

currence Loc

heet .............

est Results ..

lot for Nicke

c View of theage ..............

ibution of N

ds Showing S

de Versus S

zation ..........

howing Distr

’s Nest Dep

....................

aulds Lake A

....................

aulds Lake A

the McFauld

....................

cation ...........

....................

el..................

e Main and E....................

Nickel Values

Search Ellip

pecific Grav

....................

ribution of N

osit .............

....................

Area .............

....................

Area .............

ds Lake Area

....................

East Zones S....................

s in Compos

pse Orientatio

vity ..............

....................

Nickel Grade

....................

a ..................

....................

Solids ....................

sites .............

ons ..............

....................

es .................

....................

Page .......3

.......3

.....16

.....17

.....18

.....32

.....33

.....34

.....73

.....75

.....81

.....82

.....83

.....87

.....88

.....89

.....90

.....93

1.1 NoroMcFaminerNoroRing occur

The Ecoppehosteintrus 1.2 NororesouEagleLowl The depos 1.2.1 The q

INTROD

nt Resourceaulds Lake ral claims, Nnt has compof Fire (R

rrences that N

Eagle’s Nhigh-grad

Blackbird

Thunderb

Triple J m

Eagle’s Neser-platinum-

ed within whsion, also kn

nt has retaiurce estimatee’s Nest-Blalands of nort

present reposit, based on

qualified per

Charley MIng., AlanRichard MJane Spoo

DUCTION

es Inc. (Noroproject area

Noront is onpleted severa

ROF) area, tNoront has d

Nest deposit,de nickel-cop

d deposits wh

bird mineral

mineral occur

t deposit wh-palladium mhat is believenown as the R

OF REFER

ined Micon e for the Eaackbird (ENthern Ontario

ort presentsn the results o

ified Person

rsons (QPs) f

Murahwi, P.Gn J. San MarM. Gowans, oner, P.Geo.

ont) has beea of the Jam

ne of the largal major exptargeting sediscovered s

, Eagle Twopper-platinum

hich are a se

occurrence w

rrence which

hich is the smineralized ped to be one ROF intrusio

Internationagle’s Nest n

NB) Compleo, Canada.

s the updateof infill and

ns and Site V

for the prese

Geo. rtin, MAusIMP.Eng.

en engaged imes Bay Lgest landholdploration proveral multi-

since 2007 an

o and AT12 m-palladium

eries of mass

which is a va

h is a gold zo

subject of thpipe up to 60of the conduon.

al Limited (nickel-coppeex in the M

ed mineral rdeep drilling

Visits

ent report are

in extensiveLowlands, O

ders in this ograms of dr-metal depond is current

mineral occm deposits.

sive to interc

anadium-tita

he present re0 m across auit feeder pip

(Micon) to er-platinum-pMcFaulds La

resource estg to Decemb

e explorationOntario. With

region. Sindrilling and gosits. Minetly exploring

currences wh

calated chrom

anium zone.

eport, is a hiand 200 m inpes to the M

prepare an palladium dake area of

timate for tber 31, 2010

n activities ih 109,696 h

nce August, 2geophysics ieral depositsg include:

hich are mu

mite deposits

igh grade nin length on s

McFaulds Lak

updated mideposit withif the James

the Eagle’s 0.

in the ha of 2007, in the s and

ultiple

ickel-strike ke sill

ineral in the Bay

CharlGowa 1.3 The p

1.4 The appro52º50commall-sesouthFigur The Fand 1by reTimmproje The Esurfa

ley Murahwans visited th

PREVIO

previous Tec

P& E MinOne DepoOntario, e

P&E MiAssessmeJames Ba

Micon Intthe Blackeffective d

Golder AResource April 23,

Micon InMcFauldsCanada, e

LOCATI

McFaulds Loximately U0’ N latitudemunity of Ateason accessh, where therre 1.1.

First Nations120 km soutegularly schmins serve cts in the are

Eagle’s Nestce area and

wi visited thhe site on 5 M

OUS TECHN

chnical Repo

ning Consultosit, Doubleeffective date

ining Consuent on the Eay Lowlands,

ternational Lkbird Chromdate Decemb

Associates LEstimate, M2010.

ternational Ls Lake Proeffective date

Lake projectUTM 584400e and 86º06ttawapiskat ible commure is a paved

s communitith southeast heduled air as support ea.

t, Eagle Twoare defined

he Eagle’s NMay, 2010.

NICAL REP

orts on the E

tants Inc., Te Eagle Prope 3 July, 200

ultants Inc.agle One De, Ontario, ef

Limited, Tecme Deposits,ber 31, 2009

Ltd., ReporMcFaulds La

Limited, NI perty, Eagle 9 Septemb

t area, whic00 N and 5

6’ and 86º24on James B

unity to the Md airstrip, in

ies of Webeqof McFauldservice, primcentres for

o, Blackbirdas the Eagl

Nest projec

Eagle’s Nest

echnical Repperty, McFa08.

., Technicaeposit Doublffective date

chnical Repo, James Bay9.

rt Number ake Project,

43-101 Tece’s Nest Pr

ber, 2010.

ch includes 547000 E, a4’ W longitu

Bay and 575 McFaulds Laaddition to a

quie and Ogds Lake, respmarily from

the James

d and Triple le’s Nest-Bla

ct site on 6

deposit are l

port and Resaulds Lake A

al Report ale Eagle ProOctober 20,

ort on the My Lowlands,

10-1117-00James Bay

chnical Reporoject, Jame

the Eagle’sand betweenude, approxkm northwe

ake project aall weather r

goki/Marten pectively. B

m Thunder BBay comm

J occurrenceackbird (EN

-9 July, 20

listed as foll

source EstimArea, James

and Prelimoperty, McF, 2008.

Mineral Resou, Northern O

001, TechniLowlands,

ort, Prelimines Bay Low

s Nest depon approxima

ximately 250est of Timmarea is Nakinroad and rail

Falls are locBoth commuBay; both T

munities and

es are locateNB) Complex

09, and Ric

mate on the Es Bay Lowl

minary Econaulds Lake A

urce EstimatOntario, Ca

ical ReportOntario, Ca

nary Assessmwlands, On

osit, is locatately 52º42’0 km west omins. The clna, 300 km tlroad access

cated 90 kmunities are seThunder Bayd the explor

ed within a 4x. The AT12

Eagle lands,

nomic Area,

te for anada,

t and anada,

ment, ntario,

ted at ’ and of the losest to the . See

m west erved y and ration

4-km2 2 and

Thunrespe

Figurof theAT12

nderbird minectively.

re 1.2 presene Noront’s E2, and Thund

neral occurre

nts Noront’s Eagle’s Nestderbird mine

Locatio

ences are 10

McFaulds

mineral tenut and Blackberal occurren

ons of Noront

0 and 14 km

Figure 1.1 s Lake Project

ure for the Mbird chromitnces.

Figure 1.2 t Properties, M

m to the nort

t Location

McFaulds Late deposits a

McFaulds Lak

theast of the

ake area showand the Eag

ke Area

e ENB Com

wing the locle Two, Trip

mplex,

cation ple J,

1.5 NorointereAs ofha anventuthere the A 1.6 EarlyCanaResousurvemassdrillinexposmetaldepos The fNest)Eagle(Gold 1.7 The MArchcolleclimit A keycirclethe Edissemchalcmetrenorthsubcrm. Tno di

CLAIMS

nt controls est in other f the effectivnd has an inure, optioned

are 14 claimAT12 and Th

HISTOR

y geological ada and the urces Inc. (S

ey throughouive sulphideng. The dised greenstol deposits insit in 2007.

first mineral) deposit, it e’s Nest depder) in 2010

GEOLOG

McFaulds Lean Superioctively recoof exposure

y feature of e, 60 km in dEagle’s Nestminated, n

copyrite, mages thick, andhwestern marop over a no

The Eagle’s Nsseminated s

land held dclaims throuve date of thterest in ano

d claims andms hosting thhunderbird m

work in the Ontario DepSpider) and ut the north

e deposits (Miscovery of one belt suggn the area. N

l resource ewas prepareposit miner(Golder, 20

GY AND M

Lake area is or Province. gnized as b of the Oxfo

the McFauldiameter, in t Deposit.

net-textured gnetite) in ad at least 1rgin of a veorth-south stNest depositsulphides.

directly throuugh joint venhis report, Nother 126 clad earn-in prohe Eagle’s N

mineral occur

McFaulds Lpartment of KWG Reso

hern part ofMcFaulds No

these deposgested good Noront disco

estimate comed by P&E ral resource 10).

MINERALIZ

underlain by Within the

eing within ord-Stull Dom

ds Lake areathe area labeThe Eagle’sand massi

a pipe-like fo,650 m dee

ertically-incltrike length t is compose

ugh 100% ontures (JVs)

Noront controaims of app

ograms. Of tNest, Blackbrrences, cons

Lake area waMines. In

ources Inc. (f the James o. 1 and No. sits and theprospective

overed the E

mpleted in thMining Conestimate w

ZATION

y Precambrie area, volca significan

main, where

a is the formeled as the Rs Nest depoive magmaorm approximp. It strikeined serpentof about 500

ed of massive

ownership o), optioned cols 506 claimproximately 2the claims third, Eagle Tsisting of ap

as conductedthe 1990s, j(KWG) condBay Lowla3) were disc

e recognitione potential foEagle’s Nest

he area wasnsultants Inc

was updated

ian rocks of canogenic mnt greenstone it disappear

mational magRing of Fire osit is a subatic sulphidmately 200

es northeast-tinized perid0 m, with a e and net-tex

f mineral clclaims and ems of approx22,752 ha hhat are contr

Two and Trippproximately

d by the Geojoint ventureducted an a

ands. The ficovered in 20n of the regor further dit magmatic m

s for the Eagc. (P&E) (P

by Golder

f the northwemassive sulphne belt locatrs under the

gnetic high t(ROF) Intrub-vertically de (pyrrhotm long, up t-southwest adotite dyke maximum wxtured sulph

laims and hearn-in progrximately 109

held through rolled by Nople J deposity 3,136 ha.

logical Surve partners S

airborne magirst volcano001 by follogion as a pscoveries ofmassive sulp

gle One (Ea&E, 2008). Associates

estern part ohide depositted at the eaPaleozoic co

that forms a usive, which

dipping bodtite, pentlanto several teand occupiethat is prese

width of abohides with lit

as an rams. 9,696 joint

oront, ts and

vey of Spider gnetic genic

ow-up poorly f base phide

agle’s The Ltd.

of the ts are astern over.

half-hosts dy of ndite, ens of es the ent in out 75 ttle to

The ENickeCanamost belt o 1.8 Sinceoccuras weas wcamp Noroprope 1.9

It is Mprepacarrie 1.10 Data previby M The sampand a 1.11 SGS-and 2Theseup ofminerindexflotatprodu

Eagle’s Nesel Belt in M

ada. Archeanof that coun

of Ontario an

EXPLOR

e Noront acqrrences in 20ell as an 11-h

well as contipaigns have b

nt has drillerty in 2007,

SAMPLIANALYS

Micon’s opiaration, analyed out to ind

DATA V

verificationious Technic

Micon’s QP in

quality assupling and assare considere

MINERA

-Mineral Ser2010 at the e compositef massive suralization.

x) on a head tion feed of uct (concen

st deposit isManitoba acco

n komatiiticntry’s producnd Quebec a

RATION

quired the c003 and 200hole diamoninuous and been comple

ed a total o, up to 31 De

ING METHSES AND S

nion that theyses and sec

dustry standa

ERIFICAT

n has been ccal Reports on connection

urance and saying data ued appropria

AL PROCE

rvices (SGSLakefield tes, which werulphide minThe scope osample of ththe two com

ntrates and

komatiitic. ount for onedeposits at

ced nickel. are also Arch

claims that i06, there havnd drill progr

on-going demented by d

of 377 holeecember, 20

HOD AND AECURITY

e sampling mcurity at the ards.

carried out bon the Eaglen with the pr

quality conused in the pate.

SSING AND

S-MS) underesting facilitre selected beralization aof the testinhe two compmposites, a tailings) ch

Proterozoie-quarter to oKambalda aSeveral sma

hean komatii

include the ve been a totaram completdrilling by down-hole g

es and 153,610.

APPROACH

method and Eagle’s Ne

by the Qual’s Nest depo

resent update

ntrol (QA/Qresent miner

D METALL

rtook prelimty on two coby Noront, wand “Comp ng program posites, comseries of dev

haracterizatio

ic komatiiticone-third ofand elsewherall nickel miitic deposits.

ENB Compal of 13 geoted by ProbeNoront sinc

geophysics.

674 m since

H, SAMPLE

approach anst deposit ar

lified Personosit. This haed mineral re

QC) protocoral resource

LURGICAL

minary metalomposite sa

were labelled2”, which wincluded gri

mprehensive mvelopmentalon testwork

c deposits of current nickre in Westerines in the A.

plex, AT12 ophysical sure Mines Ltd.ce 2007. N

e mobilizing

E PREPARA

nd the procere appropria

ns (QPs) whas been revieesource estim

ols associateestimate hav

L TESTWO

llurgical testamples submd “Comp 1”, was designainding testwmineralogical flotation te

k and prelim

of the Thomkel productirn Australia

Abitibi green

and Thunderveys undert. (Probe) in 2Noront’s dr

g drills onto

ATION,

edures for saate and have

ho have prepewed and upmate.

ed with drive been revi

ting during mitted by No

which was mated disseminwork (Bond al analysis oestwork, flotminary mag

mpson ion in yield

nstone

erbird taken, 2006, rilling

ample been

pared dated

illing, iewed

2009 oront. made nated work

on the tation gnetic

separtestw(Mico 1.12 The logiccreatimode A sum

This The QMuraindep The eto 31 Micotaxatiminer 1.13 The usegm

ration tests. work program

on, 2010).

MINERA

Eagle’s Nesal approach ion, statisticelling using t

mmary of th

Main ZoneMeasured Indicated Total MeasuInferred East Zone Inferred

(1) Mineral resmineral resmarketing,

(2) The quantitinsufficient uncertain if

resource est

Qualified Peahwi, M.Sc.,pendent of N

effective dat December,

on believes tion, socio-eral resources

INTERPR

updated resoments, i.e., th

The metallum were utiliz

AL RESOUR

st updated rinvolving ge

cs on compothe Gems so

e updated re

ured plus Indic

sources which are sources may be mor other relevant ity and grade of rep

exploration to def further exploratio

imate superc

ersons respo, P.Geo., M

Noront as def

e of the estim2010.

that at preseconomic, ms estimated a

RETATION

ource estimathe Main Zon

urgical test pzed in the p

RCE ESTIM

resource esteological intosites, geostoftware, bloc

esource is pr

ary Table of th

not mineral resermaterially affectedssues. ported inferred resefine these inferreon will result in up

cedes the Go

onsible for thAusIMM, afined in NI 4

mate is 4 Ma

ent there armarketing or above.

N AND CON

te has demone and the E

program waspreliminary

timate has bterpretation, tatistics, creack model val

esented in T

Table 1.1 he Eagle’s Ne

Tonnes

5,346,000 5,643,000

11,000,000 8,966,000

1,615,000

rves do not have dd by environmenta

sources in this estied resources as angrading them to an

older estimat

he preparatioand Ing. Ala43-101.

arch, 2011 a

e no knownpolitical is

NCLUSION

onstrated thatEast Zone, s

s managed bassessment

been conducconventionaation of intelidation and

Table 1.1.

st Deposit Res

Ni (%)

Cu (%)

2.08 1.071.50 0.891.78 0.981.10 1.14

0.31 0.09

demonstrated econal, permitting, leg

imation are concepn indicated or mean indicated or mea

te of March,

on of this rean J. San M

and is based

n environmessues which

t the Eagle’sseparated by

by Noront. Tfor the Eag

cted using aal statistics oerpolation pclassificatio

sources

Pt (g/t)

Pd(g/t

1.04 3.50.94 3.20.99 3.41.16 3.4

0.12 0.4

nomic viability. gal, title, taxation

ptual in nature andasured mineral reasured mineral res

, 2010 (Gold

esource estimartin, MAus

on drilling a

ental, permitwould adv

s Nest deposy a distance

The results ole’s Nest de

a systematicon raw data, parameters, bon.

Au (g/t)

55 0.2027 0.2041 0.2049 0.3

45 0.04The estimate of

n, sociopolitical,

d there has been source and it is ource category.

der, 2010).

mate are ChsIMM. Bot

and assay da

tting, legal, versely affec

sit compriseof about 20

of the eposit

c and solid

harley th are

ata up

title, ct the

s two 00 m.

Both curreconte The Ndissemone ohighland toblitethe obroadrestrimassprovi The Msouthlimit suppominerdeposfeede The Eholesminerrequihole the cu In soresousignifconce

M andInferr

Note: Me

segments ontly availab

emporaneous

Ni-Cu-PGE minated sulp

or a combinaly variable antwisting of terated the orobliteration, d zone. Theicted to the uive sulphideide potential

Main Zone rhwards appe

of the depoorted by georal resourcesit is consister dyke.

East Zone iss drilled to aralization wired in orderintersectionsurrent resour

far as projeurces as comficant achievepts and tech

agle’s Nest, Pe

ategory d I red etal increase is base

occur in anble, it is nos.

mineralizatphides. Theation of the fngles, and (bthe Main Z

riginal fabricdrill hole in

ere is no geoupper part oes may occuly increased

remains openears to be limosit southwarophysics and. The pipetent with the

s tabular ana depth grea

which appearr to define ths, the East Zrce expansio

ect objectivempared to thvement by Nhniques bein

ercentage Incr

Tonnes 58%

110% ed on metal includ

n ultramafic ot possible

tion is assoce pattern of dfollowing facb) extreme pone 100 m

c of the minentercepts sh

ological reasof the deposiur in the midd grade and to

n to the soumited as drirds) did not d offers reali-like geomee environme

nd appears oater than 100rs to confirmhe zone withZone is geneon programs.

es are concerhe March 9,Noront and

ng employed

rease in Miner

Ni38%62%

ded within resourc

unit. Howto determin

ciated with distribution octors: (a) thephysical defo

below surfaerals and thehow that Nison to believit. Thus, in ddle and lowonnage.

th and downill hole NOTintersect mi

istic potentiaetry of the Ment of its form

open-ended t0 m beneathm the down-h confidenceerally low g.

rned, Micon, 2010 estima reflection

Table 1.2 ral Resource P

Estimate

1e estimate. M and

wever, on thne whether

massive/semof the sulphe drill holes iormation (as

face) couplede overall geoi-Cu-PGE arve that massthe envisag

wer sections

n dip. HoweT-10-98 (abineralizational for signifiMain Zone smation, i.e.,

to the southh the lower -dip potentia

e. In terms ograde and he

n believes thmate (Table n of the effe

Parameters C

Cu 62%

173% I = Measured and

he basis of or not thei

mi-massive, hides is not dintersecting s evidenced d with meta

ometry of there concentrasive sulphideed future un

s of the depo

ever, the roobout 120 m n. The downicantly incresegment of within the

h, north and limit of the al. Howeverof quality, bence, cannot

hat the signif1.2) is clea

ectiveness o

Compared with

Pt 20%

202% d Indicated.

f the informir formation

net-textureddiscernible dthe deposit aby the narroamorphism, e deposit. Deated in the es would onnderground mosit. This w

om for expanfrom the cu

n-dip extensieasing the prthe Eagle’s conduit/vent

down dip. zone inters

r, infill holeased on five

t be prioritiz

ficant increaar testimonyf the explor

h March 9, 20

mation n was

d and due to are at

owing have

espite same

nly be mine,

nsion urrent ion is resent

Nest t of a

Two sected es are e drill zed in

ase in y of a ration

Basedthat t 1.14 In linEaglewhichthe ne 1.14. The lthere is dodippichancdefle A ressomewoulproceThe fdata ato deshoul 1.14. The crecovfocuselemeBushfrom 1.14.3 Mico MicofutureFurth

d on its ownhe resource

ne with Mice’s Nest minh to proceedext level of d

1 Geolo

lateral extenis still some

own-dip. Hing body to ces of intersctions. The

source of a se 2 km awayd improve eeds with thefirst step woare inadequa

efine the resld carry on a

2 Metal

current feasivery factors ssed on Ni, ents, serious

hveld and Grores grading

3 Minin

on recommen

on supports te mine to d

her exploratio

n review anddatabase wa

MMENDATI

con’s prime neral resourcd with the cudevelopmen

ogy and Min

nt of the Maie chance of

However, at depths exc

secting the ddeep-seated

similar natury to the southe attracti

e work neceould be to reate for resouource. Else

as planned.

llurgy

bility test-wof the varCu, Pd, Pt

s consideratieat Dyke mig 0.1 to 0.15

ng/Developm

nds that the c

the developmdetermine thon of the Ea

d that of othas generated

recommendce model ha

urrent technicnt/investigati

neral Resou

in Zone of thexpansion sothis stage M

ceeding 1.5 deposit exte

d resource m

re to the Eauthwest. Giviveness of

essary to delieview the reurce estimatiewhere, exp

work programrious compot, Au and Aion be givenines revenue5 g/t Rh, whi

ment Plans

current proje

ment of an ehe lowermosast zone coul

her QPs as din a credible

dations in thas been updcal feasibiliton, Micon m

he deposit isouthwards, tMicon beliekm will no

ension will bay be better

gle’s Nest dven that a la

the investmineate a minsults of the ion, determiloration wor

m should cononents of thAg. Micon n to rhodiumes are enhancich is in the s

ect developm

exploration dst and southld also be un

detailed in Se manner.

he October, dated and thity studies. Inmakes the fol

s reasonablythe greater peves that deot be cost ebe technicalexplored fro

deposit remaarger resourcment, Miconneral resourc

drill holes cne and implrk on AT4,

ntinue to comhe Eagle’s

recommendm (Rh) as wced by revensame range a

ment studies

drift in the ehern limits ndertaken at

Section 14, M

2010 Technis forms a sn order to mollowing reco

y well-establpotential for eeper drillingeffective andlly difficult om an under

ains undefinece base in an recommence for the Eacompleted tolement the aAT5, AT8,

mpletion. PrNest deposds that, in a

well. In Sounues from rhas the Eagle

continue to

early stages of the Mainthe same tim

Micon conc

nical Reportstrong basis ove the projeommendation

lished. Althfurther resog of a vertid, moreoverdue to drill

rground drift

ed at Eagle a remote locnds that N

agle Two depo date and, additional dr, AT9 and A

resently, woit appears taddition to

uthern Africahodium recove’s Nest depo

completion.

of the envisn Zone resome.

cludes

t, the upon ect to ns.

hough ources ically r, the l hole t.

Two, cation

Noront posit. if the

rilling AT12

ork on to be these a, the vered osit.

saged ource.

1.14. Noroand i Micowith

4 Budg

nt’s budget s broken dow

on believes ththe proposed

et for Furth

for on-goinwn as shown

hat the propod work progr

GeolFieldTechContTota

her Work

g work durin in Table 1.

osed budget ram.

Budget for On

Itelogical evaluatd work and envhnical and permtingencies al

ing the next 3.

is reasonabl

Table 1.3 n-going Work

em tions and Drillivironmental stumitting studies

12 months

le and recom

k During 2011

Cost Cing 1,000udies 700

8,000300

10,000

amounts to

mmends that

Cdn$0,0000,0000,0000,0000,000

Cdn$10,000

t Noront proc

NoroMcFaminerNoroRing occur

The Ecoppehostesill. glacia 2.1 Micoas pathe dMicoPropeSepte Micoin pro The f(subs(P&EEagleOntarprelimPrelimMcFaOctob

nt Resourceaulds Lake ral claims, Nnt has compof Fire (R

rrences that N

Eagle’s Nhigh-grad

Blackbird

Thunderb

Triple J m

Eagle’s Neser-platinum-

ed within whIt is a near-al till, sand a

PREVIO

on Internatioart of on-goindevelopmenton’s report tierty, Eagle’ember, 2010

on has also bogress on the

first minerasequently renE) and is dise One Deporio, effectivminary assesminary Ecoaulds Lake Aber, 2008).

.0 INTR

es Inc. (Noroproject area

Noront is onpleted severa

ROF) area, tNoront has d

Nest deposit,de nickel-cop

d deposits wh

bird mineral

mineral occur

t deposit wh-palladium mhat is believ-vertical struand gravel.

OUS TECHN

onal Limitedng developmt of the Eagitled, NI 43-s Nest Projand filed on

been retainede McFaulds

l resource enamed Eagl

scussed in thosit, Doubleve date 3 Jussment for t

onomic AsseArea, James

RODUCTIO

ont) has beea of the Jam

ne of the largal major exptargeting sediscovered s

, Eagle Twopper-platinum

hich are a se

occurrence w

rrence which

hich is the smineralized pved to be oneucture that u

NICAL REP

d (Micon) coment of the Mgle’s Nest d101 Technicject, James n SEDAR on

d by Noront Lake projec

estimate comle’s Nest) anhe report titl Eagle Prop

uly, 2008 (Pthe Eagle Oessment on Bay Lowlan

ON AND TE

en engaged imes Bay Lgest landholdploration proveral multi-

since 2007 an

o and AT12 m-palladium

eries of mass

which is a va

h is a gold zo

subject of thpipe up to 60e of the conunderlies up

ompleted a sMcFaulds Ladeposit. Thcal Report, PBay Lowla

n 25 October

as lead conct.

mpleted in tnd was prepled, Technicperty, McFaP&E, July, 2

One deposit the Eagle

nds, Ontario

RMS OF R

in extensiveLowlands, O

ders in this ograms of dr-metal depond is current

mineral occm deposits.

sive to interc

anadium-tita

he present re0 m across a

nduit feeder to 20 m of

scoping studake project, he results oPreliminary ands, Ontarir, 2010 (Mic

nsultant for th

the area waspared by P&

cal Report anaulds Lake A2008). Subas reported One Depo

o, effective d

REFERENC

e explorationOntario. With

region. Sindrilling and gosits. Minetly exploring

currences wh

calated chrom

anium zone.

eport, is a hiand 200 m inpipes to the

f saturated v

dy or prelimthe main focf the study Assessment

io, Canada, con, 2010).

the feasibility

s for the Ea&E Mining nd ResourceArea, Jamesbsequently, in its Tech

osit Double date October

n activities ih 109,696 h

nce August, 2geophysics ieral depositsg include:

hich are mu

mite deposits

igh grade nin length on se McFaulds vegetative m

minary assesscus of which

are providet, McFaulds effective d

y study pres

agle One deConsultants

e Estimate os Bay LowlP&E preparnical ReporEagle Prop

r 20, 2008 (P

in the ha of 2007, in the s and

ultiple

ickel-strike Lake

matter,

sment h was ed in Lake

date 9

sently

eposit s Inc. on the lands, red a

rt and perty, P&E,

Micothe EEstimCana GoldEagleBlackLake Each 2.2 NororesouEagleLowl The depos 2.2.1 The q

Each 2.2.2 Charldrill and thestim2010 2.2.3 This agree

on also prepaEagle’s Nestmate for theada, has an ef

er Associatee’s Nest depkbird deposiProject, Jam

of these rep

nt has retaiurce estimatee’s Nest-Blalands of nort

present reposit, based on

qualified per

Charley MIng., AlanRichard MJane Spoo

of the quali

Site V

ley Murahwcore and revhe adjacent

mate for the Bin connectio

report is inement with M

ared a resourt deposit. Te Blackbird ffective date

es Ltd. (Goposit and prit, in the rep

mes Bay Low

ports has bee

OF REFER

ined Micon e for the Eaackbird (ENthern Ontario

ort presentsn the results o

ified Person

rsons (QPs) f

Murahwi, P.Gn J. San MarM. Gowans, oner, P.Geo.

fied persons

Visits

wi visited theviewed sampBlackbird de

Blackbird deon with Mic

f Report

ntended to bMicon. Tha

rce estimateThis report,

Chrome De of Decemb

older) prepaesented the port titled Twlands, Onta

en filed on SE

Internationagle’s Nest n

NB) Compleo, Canada.

s the updateof infill and

for the prese

Geo. rtin, MAusIMP.Eng.

s is independ

e Eagle’s Nepling and Qeposit in con

eposit (Miconon’s prelimi

be used by at agreement

for the Blac, titled Tech

Deposits, Jamer 31, 2009

ared an updestimate, to

Technical Reario, Canada

al Limited (nickel-coppeex in the M

ed mineral rdeep drilling

ent report are

dent of Noro

est project siQA/QC procennection witn, 2009). Riinary assessm

Noront subt permits No

ckbird chromhnical Repomes Bay L(Micon, 200

dated mineraogether witheport and Ra, dated Apri

(Micon) to er-platinum-pMcFaulds La

resource estg to Decemb

nt under NI

ite on 6-9 Juedures for bth the preparichard Gowament (Micon

bject to the oront to file

mite depositort on the MLowlands, N09).

al resource h the Micon

Resource Estil 23, 2010 (G

prepare an palladium dake area of

timate for tber 31, 2010

43-101.

uly, 2009 whboth the Eagration of the ans visited thn, 2010).

terms and e this report

t, located cloMineral ResoNorthern On

estimate fon estimate fotimate, McFGolder, 2010

updated mideposit withif the James

the Eagle’s 0.

hen he examgle’s Nest de

mineral resohe site on 5

conditions oas an NI 43

ose to ource

ntario,

or the or the Faulds 0).

ineral in the Bay

mined eposit ource May,

of its 3-101

Technsecurother 2.3 With informas do 2.4 In thitypicInterninclu(m) fgroupreporgold avoirwhileounce Units

nical Reportrities legislatr use of this r

SOURCE

the exceptimation for t

ocumented in

UNITS A

is report, all ally expressnational d’Uding metric for distance,p element orted in parts

may also brdupois poune gold and Pes per short

s of measure

AluminAtomicBillion CanadiCanadiCanadiChromiChromiCobalt Cubic mDegreeDegreeEnvironFire assFoot, feFootwaGlobal Gram(s

t with the Cation. Exceptreport, by an

ES OF INFO

ion of Substhis report arn the existing

AND CURR

currency amsed in US

Unités (SI) mtons (tonne

, hectares (hr metal (PGper million

be reported nds (lb). NPGM assay ton (oz/T) ar

and abbrevi

num c absorption spyears old an Environmenan dollar an National Inium ium dioxide

metre(s) (s) s Celsius nmental Assesssay eet all positioning sy

anadian Secut for the purpny third party

ORMATIO

sections 1.12re data and g reports alre

mounts are stdollars (US

metric unitses, t) and kilha) for area,

GE or PGM)(ppm) or pin troy ou

ickel and covalues are

re specifical

iations used

ectrometry

ntal Assessmen

strument 43-10

urities Reguposes legislay, is at that p

2 to 1.14.4 transcript sueady filed on

tated in CanS$). Quan, the standalograms (kg, grams (g) ) grades. Parts per billi

unces (oz) aopper and mreported in

lly stated.

are provided

Table 2.1 t of Abbreviati

nt Agency

ulatory Authated under pparty’s sole r

and Sectionupplied by Nn SEDAR.

nadian dollarntities are gard Canadiang) for weight

and grams PGE/PGM anion (ppb). Qand quantitimetal assays n grams of m

d in Table 2

Al AAS Ga CEAA$ NI 43-Cr Cr2O3

Co m3 o oC EA FA ft FW GPS g

horities pursuprovincial secrisk.

ns 17 to 23Noront and p

rs ($), with cgenerally stan and intern

ht, kilometreper tonne (nd gold graQuantities oes of nickeare reporte

metal per to

Abbreviation

uant to provicurities laws

3, the sourcprevious fin

commodity pated in Sysnational pras (km) or mg/t) for plat

ades may alsof PGE/PGMel and copped in percentonne (g/t) u

incial s, any

ces of dings

prices stème

actice, metres tinum so be

M and per in t (%)

unless

Grams Grams GreaterGold HanginHectareHertz Hour(s)Hours pInch(esInducedInductivspectroInstrumInverseInverseIridiumIron KilograKilograKilomeKilowaLead Less thLitre(s)Lerchs-Litres pLondonLoss onMetre(sMetres Metres Metres MicronMilligrMilligrMillimeMillimeMillionMillionMillionMillionMillionMillionMinuteMolybdNano-TNickel OsmiumOunce(Ounces

per cubic centiper litre r than

ng wall e(s)

) per day s) d polarization vely coupledmetry

mental neutron e distance to thee distance to the

am(s) ams per cubic metre(s) atthours per ton

an ) -Grossmann per second n Metal Exchann ignition s) above sea leveper kilometre per second

n(s) ams ams per litre etre(s) etres per year

n n pounds n cubic metres n tonnes n tonnes per yen years old (s) denum Tesla

m (s) (troy ounce)s per tonne

Term imetre

d plasma

activation anale power of 2 e power of 5

atomic emi

g/L > Au HW ha Hz h h/d in IP

ssion ICP-A

INAAID2 ID5 Ir Fe kg kg/m3

km kWh/tPb < L LG L/s LMELOI m masl m/kmm/s μm mg mg/Lmm mm/yM Mlb Mm3 Mt Mt/y Ma min Mo nT Ni Os oz oz/t

Abbreviation

OuncesPalladiuParts peParts pePlatinumPlatinumPlatinumPound(QualityQualityQualityRhodiuRock qRuthenSecondShort toSpecifiSquare Square Square StandarSulphurThousaThree dTitaniuTitaniuTonne(TonnesTreatmUS gallUnited VanadiVanadiVolcanWeightX-ray fYear Zinc

s per short ton um er billion er million m m group elemem group metals)

y assurance y assurance/quay control um uality designat

nium d on (2,000 pounc gravity metre(s) metres per tonkilometre(s)

rd deviation r

and tonnes dimensional um um dioxide, tita

s) s per cubic met

ment charges/reflons per minuteStates dollars um um pentoxide

nogenic massivt fluorescence

ents ls

ality control

tre fining chargese

e sulphide

oz/T Pd ppb ppm Pt PGE PGMlb QA QA/QCQC Rh RQDRu s T SG m2

m2/t km2 Std DeS kt 3D Ti TiO2 t t/m3 TC/RCUSgpmUS$ V V2O5

VMSWt. XRF y Zn

Abbreviation

Whilhave in for The vhave minergener Micoprovi

e exercisingrelied upon

rmulating th

various agrenot been revral title claimral informati

on offers no ided in Secti

g all reasonabNoront’s pr

eir opinion.

ements undeviewed by Mmed. A desion purposes

opinion on ion 4.3 is giv

RELIANC

ble diligencresentation o

er which NoMicon, and Mscription of ts only.

the state ofven for inform

CE ON OT

e in checkinof its projec

oront holds tMicon offersthe property

f the environmation purp

HER EXPE

ng, confirminct data and th

title to the ms no legal opy, and owner

nment on thposes only.

ng and testinhe findings

mineral claimpinion as to trship thereo

he property.

ng it, the auof its consu

ms for this prthe validity of, is provide

The descri

uthors ltants

roject of the ed for

iption

The Mico 4.1 The Mand bappronorthprojeaddit

The Fand 1by reTimmproje

following don, 2010.

LOCATI

McFaulds Labetween approximately 25hwest of Timct area is Nion to all we

First Nations120 km soutegularly schmins serve cts in the are

4.0 PRO

description o

ake project aroximately 550 km west

mmins. The Nakina, 300 eather road a

s communitith southeast heduled air as support ea.

OPERTY DE

of the McFa

area is locate52º42’ and 5

of the comclosest all-skm to the

and railroad

McFaulds

ies of Webeqof McFauldservice, primcentres for

ESCRIPTIO

aulds Lake p

ed at approx52.50’ N latit

mmunity of Aseason accessouth, wheraccess. See

Figure 4.1 s Lake Project

quie and Ogds Lake, respmarily from

the James

ON AND L

property is

ximately UTMtude and 86º

Attawapiskatssible commre there is aFigure 4.1.

t Location

goki/Marten pectively. B

m Thunder BBay comm

LOCATION

based on G

M 5844000 º06’ and 86ºt on James

munity to thea paved, 3,8

Falls are locBoth commuBay; both T

munities and

Golder, 2010

N and 5470º24’ W longiBay and 57e McFaulds 880-ft airstri

cated 90 kmunities are seThunder Bayd the explor

00 E, itude, 5 km Lake ip, in

m west erved y and ration

The EsurfaThunrespe Figurof theAT12Camp

4.2 NorointereAs ofha anventuthere the A A prodetail

Eagle’s Nestce area and

nderbird minectively.

re 4.2 presene Noront’s E2, and Thunp, Koper Lak

CLAIMS

nt controls est in other f the effectivnd has an inure, optioned

are 14 claimAT12 and Th

operty map sled list of cla

t, Eagle Twoare defined

neral occurre

nts Noront’s Eagle’s Nestnderbird minke, the McFa

Locatio

land held dclaims throuve date of thterest in ano

d claims andms hosting thhunderbird m

showing theaims held by

o, Blackbird as the Eagl

ences are 10

mineral tenut and Blackbneral occurraulds Lake C

ons of Noront

directly throuugh joint venhis report, Nother 126 clad earn-in prohe Eagle’s N

mineral occur

e claims in thy Noront is s

and Triple Jle’s Nest-Bla0 and 14 km

ure for the Mbird chromitences. AlsoCamp, and lo

Figure 4.2 t Properties, M

ugh 100% ontures (JVs)

Noront controaims of app

ograms. Of tNest, Blackbrrences, cons

he Ring of Fshown in Tab

J occurrenceackbird (EN

m to the nort

McFaulds Late deposits ao shown areocal bodies o

McFaulds Lak

ownership o), optioned cols 506 claimproximately 2the claims third, Eagle Tsisting of ap

Fire area is pble 4.1.

es are locateNB) Complex

theast of the

ake area showand the Eage the locatioof water.

ke Area

f mineral clclaims and ems of approx22,752 ha hhat are contr

Two and Trippproximately

presented as

d within a 4x. The AT12e ENB Com

wing the locle Two, Tripons of the E

laims and hearn-in progrximately 109

held through rolled by Nople J deposity 3,136 ha.

Figure 4.3

4-km2 2 and

mplex,

cation ple J, Esker

as an rams. 9,696 joint

oront, ts and

Ring of Fir

Claim Number

1221423 3005505 3005526 3005533 3005534 3005622 3005667 3005668 3005669 3005670 3006707 3006708 3006709 3008260 3008261 3008266 3008267 3008687 3008773 3008774

e Property M

BMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBM

Figure 4.3 ap Including t

Table 4.1 of Noront Cla

wnship/Area

MA 526 862 MA 532 861 MA 532 861 MA 533 862 MA 532 862 MA 526 862 MA 527 861 MA 527 861 MA 527 861 MA 527 862 MA 527 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 527 861 MA 527 861 MA 527 861 MA 526 862 MA 526 862

the McFaulds

PorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcu

s Lake Area

ision Area(ha)

upine 256 upine 128 upine 80 upine 64 upine 128 upine 256 upine 256 upine 144 upine 256 upine 256 upine 128 upine 32 upine 32 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256

Claim Number

3011019 3011020 3011021 3011022 3011024 3011025 3011553 3011554 3011555 3011556 3011557 3011558 3011559 3011560 3011561 3011562 3012256 3012259 3012260 3012261 3012262 3012264 3012265 4208213 4208214 4208215 4211293 4211294 4211295 4211296 4211297 4211298 4211299 4211300 4211340 4211341 4215900 4215901 4215902 4215903 4215904 4215905 4215906 4215907 4215908 4215909 4218183 4218184 4218185 4218186 4218187 4218188 4218234 4218241 4218250 4218258 4218887 4218888 4218889 4218890 4218901 4218902 4218903

BMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBM

BMABMA

BMBMBMBMBMBMBMBMBMBMBMBMBMBMBM

wnship/Area

MA 527 861 MA 527 861 MA 527 861 MA 527 861 MA 527 861 MA 527 861 MA 526 862 MA 526 862 MA 526 863 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 527 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 527 861 MA 527 861 MA 527 861 MA 533 862 MA 533 862 MA 533 862 MA 533 862 MA 533 862 MA 533 862 MA 533 862 MA 533 862 MA 533 862 MA 533 862 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 A 526 863 (TB) A 526 863 (TB) MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 531 854 MA 533 862 MA 533 862 MA 531 854 MA 527 862 MA 527 862 MA 527 862 MA 527 862 MA 527 862 MA 527 862 MA 527 862

PorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcu

ThundThund

PorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcu

ision Area(ha)

upine 240 upine 240 upine 240 upine 240 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 64 upine 64 upine 256 upine 256 upine 240 upine 128 upine 256 upine 240 upine 256 upine 256 upine 256 upine 32 upine 64 upine 192 upine 64 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256

der Bay 256 der Bay 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 224 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256

Claim Number

4218904 4221421 4221422 4221423 4221424 4221425 4221426 4221427 4221428 4221429 4221430 4222249 4222258 4222259 4222260 4222261 4222262 4222263 4222265 4222270 4222285 4222286 4222287 4222291 4222292 4222293 4222294 4222295 4222296 4222297 4222306 4222307 4222308 4222309 4222499 4222500 4222622 4222625 4222629 4222630 4222644 4222671 4222672 4222673 4222674 4222675 4222676 4222677 4222678 4222679 4222680 4223453 4223454 4223455 4223487 4223488 4225176 4225177 4225178 4225179 4225180 4225831 4225833

BMBMABMABMABMA

BMBMBMBMBM

BMABMBMBMBM

BMABMABMABMA

BMBMBMBMBMBMBM

BMABMBMBM

MAMCHMAMCHMAMCHMAMCH

BMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBM

BMABMA

BMBMBMBMBM

wnship/Area

MA 527 862 A 527 863 (TB) A 527 863 (TB) A 527 863 (TB) A 527 863 (TB) MA 527 862 MA 527 862 MA 527 862 MA 527 862 MA 527 862 A 526 863 (TB) MA 533 862 MA 532 864 MA 532 864 MA 532 864

A 533 863 (POR) A 533 863 (POR) A 533 863 (POR) A 533 863 (POR)

MA 533 862 MA 531 862 MA 531 862 MA 531 862 MA 531 862 MA 531 862 MA 531 862

A 531 863 (POR) MA 531 862 MA 531 862 MA 531 862 HUR LAKE AREAHUR LAKE AREAHUR LAKE AREAHUR LAKE AREAMA 526 862 MA 526 862 MA 531 861 MA 531 861 MA 531 854 MA 531 854 MA 531 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 532 862 MA 532 862 MA 532 862 MA 533 861 MA 532 862 A 526 863 (TB) A 526 863 (TB) MA 526 862 MA 526 864 MA 526 864 MA 532 861 MA 531 861

PorcuThundThundThundThund

PorcuPorcuPorcuPorcuPorcu

ThundPorcu

ThundThundThund

PorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcu

A ThundA ThundA ThundA Thund

PorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcu

ThundThund

PorcuThundThund

PorcuPorcu

ision Area(ha)

upine 192 der Bay 256 der Bay 256 der Bay 256 der Bay 256 upine 256 upine 256 upine 256 upine 256 upine 256

der Bay 256 upine 256

der Bay 256 der Bay 256 der Bay 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256

der Bay 256 der Bay 256 der Bay 256 der Bay 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 128 upine 256 upine 256 upine 80 upine 224

der Bay 256 der Bay 256 upine 256

der Bay 256 der Bay 256 upine 96 upine 32

Claim Number

4225835 04225836 4225861 4225862 4225863 4225864 4225865 4225866 4225868 4225869 4225870 4225871 4225872 4225873 4225874 4225875 4225876 4225877 4225878 4225879 4225880 4225881 4225882 4225883 4225953 4225981 4225982 4225988 4225989 4225990 4225994 4225995 4225997 4225998 4225999 4226001 4226002 4226008 4226009 4226011 4226012 4226013 4226014 4226015 4226016 4226071 4226072 4226073 4226075 4226076 4226077 4226078 4226081 4226082 4226083 4226091 4226094 4226095 4226096 4226097 4226100 4226111 4226112

BMBMBMBMBMBMBMBM

BMABMA

BMBMBMBMBMBMBM

BMABMABMA

BMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBM

wnship/Area

MA 531 861 MA 532 861 MA 526 862 MA 526 862 MA 526 862 MA 526 863 MA 526 862 MA 526 862

A 526 863 (POR) A 526 863 (POR)

MA 526 863 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 A 525 863 (TB)

A 525 863 (POR) A 525 863 (POR)

MA 525 863 MA 525 862 MA 525 862 MA 525 862 MA 532 862 MA 528 861 MA 528 861 MA 527 861 MA 528 861 MA 528 861 MA 531 861 MA 531 861 MA 532 861 MA 528 861 MA 528 861 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 531 862 MA 531 862 MA 531 862 MA 528 862 MA 528 862 MA 528 862 MA 533 862 MA 533 862 MA 533 861 MA 532 862 MA 532 862 MA 532 861 MA 533 862 MA 532 861 MA 532 861 MA 532 861 MA 527 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 526 862 MA 528 861 MA 528 861

PorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcu

ThundPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcu

ision Area(ha)

upine 32 upine 128 upine 64 upine 64 upine 16 upine 256 upine 256 upine 224 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256

der Bay 64 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 64 upine 64 upine 64 upine 192 upine 240 upine 128 upine 256 upine 80 upine 32 upine 32 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 128 upine 256 upine 256 upine 80 upine 224 upine 80 upine 112 upine 64 upine 64 upine 64 upine 64 upine 256 upine 256 upine 256

Claim Number

4226113 4226114 4226115 4226116 4226117 4226118 4226119 4226581 4226582 4226583 4226584 4226585 4226586 4226588 4226589 4226590 4226611 4226612 4226613 4226614 4226615 4226616 4226617 4226618 4226619 4226623 4226624 4226625 4226626 4226627 4226628 4226631 4226632 4226633 4226635 4226636 4226637 4226638 4226639 4226640 4226651 4226652 4226653 4226654 4226655 4226656 4226657 4226658 4226659 4226660 4226661 4226662 4226663 4226665 4226670 4226672 4226673 4226674 4226675 4226676 4226677 4226678 4226679

BMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBM

wnship/Area

MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 526 861 MA 533 862 MA 533 862 MA 533 861 MA 526 861 MA 526 861 MA 527 861 MA 531 861 MA 531 861 MA 527 861 MA 526 861 MA 526 861 MA 526 861 MA 531 861 MA 527 861 MA 526 861 MA 531 861 MA 531 861 MA 531 861 MA 527 861 MA 527 861 MA 527 861 MA 527 861 MA 527 861 MA 526 861 MA 526 861 MA 526 861 MA 526 861 MA 526 861 MA 526 861 MA 526 861 MA 526 861 MA 526 861 MA 527 861 MA 527 861 MA 527 861 MA 527 861 MA 527 861 MA 527 862 MA 527 861 MA 527 861 MA 527 861 MA 531 861 MA 526 862 MA 526 862 MA 526 861 MA 526 862 MA 531 861 MA 527 861 MA 531 861 MA 531 861 MA 526 861 MA 526 861 MA 526 861 MA 526 861 MA 526 861

PorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcu

ision Area(ha)

upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 224 upine 112 upine 160 upine 256 upine 64 upine 256 upine 256 upine 256 upine 256 upine 32 upine 160 upine 256 upine 256 upine 256 upine 192 upine 192 upine 256 upine 256 upine 256 upine 256 upine 240 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 192 upine 256 upine 256 upine 224 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 80 upine 256 upine 256 upine 256 upine 192 upine 256 upine 224 upine 256

Claim Number

4226680 4226681 4226682 4226683 4226684 4226685 4226686 4226687 4226688 4226689 4226690 4226691 4226692 4226693 4226694 4226695 4226696 4226697 4226698 4226699 4226700 4226701 4226702 4226703 4226704 4226705 4226706 4226707 4226708 4226709 4226710 4228770 4228771 4228772 4228773 4228774 4228775 4229408 4229428 4229429 4229431 4229432 4229435 4229436 4229437 4229438 4229439 4229440 4229442 4229443 4229445 4229451 4229452 4229453 4229454 4229455 4229456 4229457 4229458 4229459 4229460 4229628 4229629

BMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBM

wnship/Area

MA 526 861 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 527 862 MA 527 861 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 527 862 MA 527 862 MA 527 861 MA 527 862 MA 527 861 MA 526 862 MA 526 862 MA 526 862 MA 526 862 MA 527 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 861 MA 527 861 MA 528 861 MA 528 861 MA 528 861 MA 527 861 MA 528 861 MA 528 861 MA 527 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 532 861 MA 532 861 MA 532 861 MA 532 862 MA 532 861 MA 532 861 MA 532 862 MA 532 861 MA 532 861 MA 531 861 MA 527 862 MA 527 861

PorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcu

ision Area(ha)

upine 160 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 240 upine 256 upine 256 upine 256 upine 128 upine 256 upine 96 upine 64 upine 144 upine 32 upine 32 upine 16 upine 240 upine 256 upine 64 upine 192 upine 240 upine 192 upine 160 upine 32 upine 256 upine 256 upine 64 upine 208 upine 256 upine 256 upine 192 upine 256 upine 256 upine 96 upine 256 upine 192

Claim Number

4229630 4229656 4229657 4229658 4229659 4229660 4229661 4229662 4229663 4229664 4229665 4229666 4229667 4229668 4229669 4229670 4229671 4229672 4229673 4229674 4229675 4229916 4229917 4229918 4229919 4229920 4229921 4229922 4229923 4229924 4229925 04240155 04240156 04240157 4240226 4240227 4240228 4240229 4240231 4240232 4240240 4240241 4240242 4240243 4240244 4240245 4240266 4240267 4240268 4240269 4240270 4240271 4240273 4240274 4240275 04240286 04240287 04240288 4240428 4240526 4240527 4240528 4240529

BMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBM

BMABMBMBM

BMABMA

BMBMBMBMBMBM

NABISBM

NABISNABISNABISNABISNABISNABISNABISNABISNABISNABISBMA

BMBMBMBM

wnship/Area

MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 528 861 MA 533 862 MA 533 862 MA 533 861 MA 533 861 MA 533 861 MA 533 862 MA 533 862 MA 533 861 MA 533 861 MA 533 861 MA 532 862 MA 532 862 MA 532 861 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 861 MA 532 861 MA 532 862 MA 532 864 MA 532 864 MA 532 864

A 533 863 (POR) MA 533 862 MA 533 862 MA 533 862

A 533 863 (POR) A 533 863 (POR)

MA 533 871 MA 533 871 MA 533 871 MA 533 871 MA 533 871 MA 533 871 SH LAKE AREAMA 533 862 SH LAKE AREASH LAKE AREASH LAKE AREASH LAKE AREASH LAKE AREASH LAKE AREASH LAKE AREASH LAKE AREASH LAKE AREASH LAKE AREA

A 533 863 (POR) MA 533 862 MA 533 862 MA 533 862 MA 533 862

PorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcu

ThundThundThund

PorcuPorcuPorcuPorcuPorcuPorcu

ThundThundThundThundThundThundThund

PorcuThundThundThundThundThundThundThundThundThundThund

PorcuPorcuPorcuPorcuPorcu

ision Area(ha)

upine 192 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 256 upine 144 upine 256 upine 256 upine 256 upine 256 upine 144 upine 256 upine 256 upine 240 upine 256 upine 256 upine 240 upine 144 upine 128 upine 256 upine 240 upine 256 upine 256 upine 192 upine 256

der Bay 256 der Bay 256 der Bay 256 upine 256 upine 224 upine 144 upine 16 upine 160 upine 32

der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 128 upine 144

der Bay 256 der Bay 192 der Bay 224 der Bay 256 der Bay 256 der Bay 144 der Bay 256 der Bay 192 der Bay 16 der Bay 80 upine 64 upine 256 upine 256 upine 128 upine 32

Claim Number

4240742 4240743 4240744 4240745 4240746 4240747 4240748 4240749 4240750 4241051 4241052 4241053 4241054 4241058 4241059 4241060 4241251 4241252 4241253 4241254 4241255 4241256 4241257 4241258 4241271 4241272 4241273 4241274 4241275 4241276 4241277 4241278 4241279 4241280 4241281 4241282 4241283 4241284 4241285 4241289 4241290 4243401 4243402 4243403 4243404 4243405 4243406 4243407 4243408 4243409 4243410 4243411 4243412 4243413 4243414 4243415 4243416 4243417 4243418 4243419 4243420 4243421 4243422

BMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBM

NABISNABISNABIS

BMNABISNABISNABISNABIS

BMBMBM

NABISBMBMBMBM

NABISBM

NABISNABISNABIS

BMNABISNABIS

BMABMABMABMABMA

BMABMA

BMBMABMABMABMABMA

BMABMA

BMBMABMABMABMABMA

wnship/Area

MA 533 871 MA 533 871 MA 533 864 MA 533 871 MA 533 871 MA 533 871 MA 533 871 MA 533 871 MA 533 864 MA 532 871 MA 532 871 MA 532 871 MA 532 871 MA 532 871 MA 532 871 MA 532 871 MA 533 871 SH LAKE AREASH LAKE AREASH LAKE AREAMA 533 871 SH LAKE AREASH LAKE AREASH LAKE AREASH LAKE AREAMA 532 864 MA 532 864 MA 532 864 SH LAKE AREAMA 532 864 MA 533 871 MA 532 864 MA 532 864 SH LAKE AREAMA 533 871 SH LAKE AREASH LAKE AREASH LAKE AREAMA 533 871 SH LAKE AREASH LAKE AREAA 532 863 (TB) A 532 863 (TB) A 532 863 (TB) A 532 863 (TB) A 532 863 (TB)

A 532 863 (POR) A 532 863 (POR)

MA 532 862 A 532 863 (TB) A 532 863 (TB) A 532 863 (TB) A 532 863 (TB) A 532 863 (TB)

A 532 863 (POR) A 532 863 (POR)

MA 532 862 A 532 863 (TB) A 532 863 (TB) A 532 863 (TB) A 532 863 (TB) A 528 863 (TB)

A 532 863 (POR)

ThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThundThund

PorcuPorcuPorcu

ThundThundThundThundThund

PorcuPorcuPorcu

ThundThundThundThundThund

ision Area(ha)

der Bay 256 der Bay 256 der Bay 128 der Bay 64 der Bay 160 der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 96 der Bay 256 der Bay 256 der Bay 256 der Bay 64 der Bay 256 der Bay 256 der Bay 240 der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 48 der Bay 80 der Bay 128 der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 224 der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 176 der Bay 224 der Bay 144 der Bay 256 der Bay 256 der Bay 256 der Bay 256 upine 208 upine 208 upine 160

der Bay 256 der Bay 256 der Bay 240 der Bay 192 der Bay 256 upine 256 upine 256 upine 256

der Bay 256 der Bay 256 der Bay 224 der Bay 256 der Bay 256 upine 256

The cclaims within

Claim Number

4243423 4243424 4243425 4243426 4243427 4243428 4243429 4244732 4245934 4245937 4245943 4245944 4245947 4245948 4247111 4247112 4247113 4247114 4247115 4247116 4247117 4247118 4247119 4247120 4247167 4247168 4247169 4247170 4258451 4258452 4258453 4258454 4258455 4258456 4258457 4258458 4258459 4258460 4258461 4258462 4258463 4258464 4258465 4258466 4258467 4258468 4258469 4258470

n which Nor

BMABMABMABMA

BMABMBM

BMABMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBMBM

ront’s deposi

wnship/Area

A 532 863 (TB) A 532 863 (TB) A 532 863 (TB) A 532 863 (TB)

A 533 863 (POR) MA 533 862 MA 533 862

A 533 863 (POR) MA 531 861 MA 531 861 MA 531 861 MA 531 861 MA 532 862 MA 532 862 MA 533 871 MA 533 871 MA 533 864 MA 533 864 MA 533 864 MA 533 864 MA 533 864 MA 533 864 MA 533 864 MA 533 864 MA 533 864 MA 533 864 MA 533 864 MA 533 864 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862 MA 532 862

its/discoveri

ThundThundThundThund

PorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcu

ThundThundThundThundThundThundThundThundThundThundThundThundThundThund

PorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcuPorcu

ies are locate

ision Area(ha)

der Bay 256 der Bay 256 der Bay 256 der Bay 256 upine 256 upine 256 upine 256 upine 160 upine 16 upine 112 upine 32 upine 64 upine 192 upine 144

der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 256 der Bay 96 der Bay 256 der Bay 256 der Bay 256 der Bay 128 der Bay 128 der Bay 224 der Bay 224 der Bay 80 upine 96 upine 96 upine 80 upine 32 upine 112 upine 32 upine 64 upine 256 upine 144 upine 96 upine 128 upine 256 upine 256 upine 192 upine 192 upine 256 upine 256 upine 16 upine 192 upine 144

ed are shown

n in Table 4..2.

33333333333

Number T

3008266 B3008267 B3008687 B3011019 B3011020 B3011021 B3011022 B3011024 B3011025 B3012256 B3012259 B

3012261 B

3012264 B3012265 B

FederNest NoroDescrexpecwhichto beConsproposeriesopinitaken Basedto be

Township/Area

BMA 527861 BMA 527861 BMA 527861 BMA 527861 BMA 527861 BMA 527861 BMA 527861 BMA 527861 BMA 527861 BMA 527862 BMA 527862

BMA 527862

BMA 527862 BMA 527862

ENVIROECONOM

ral and Provproperty, as

nt has takenription to thcted to progh is anticipae completedultation Procosed develops of open hoions on the on an interest

d on initial brelated to ha

a Division

Porcupine Porcupine Porcupine Porcupine Porcupine Porcupine Porcupine Porcupine Porcupine Porcupine Porcupine

Porcupine

Porcupine Porcupine

ONMENTALMIC CONS

vincial permi envisaged i

n the first she Canadiangress throughated to be cod until 201cess with allpment. The

ouses will proverall benein the projec

baseline worabitat disturb

ms Hosting Nor

Area (ha)

256 20256 20256 20240 20240 20240 20240 20256 20256 20256 20256 20

256 20

64 2064 20

L PERMITSIDERATIO

itting procesn the prelim

tep in projen Environmeh the permitmpleted in 23. As parl communitie Consultatiorovide opporfits of the prct including

rk and subsebance, water

Table 4.2 ront’s Curren

Recording Date

003-Jul-31 003-Jul-31 003-Oct-08 003-Apr-14 003-Apr-14 003-Apr-14 003-Apr-14 003-Apr-14 003-Apr-14 003-Apr-22 003-Apr-22

003-Apr-22

003-Apr-28 003-Apr-28

TING, MANONS

sses will be aminary assess

ect permittinental Assesstting stage w2012. As a rt of this pes and First on Process wrtunities for roject. A nuthose Webeq

quent findinr and waste m

ntly Known De

Claim Due Date

2012-Jul-31 2012-Jul-31 2012-Oct-08 2014-Apr-14 2014-Apr-14 2014-Apr-14 2012-Apr-14 2013-Apr-14 2013-Apr-14 2012-Apr-22 2012-Apr-22

2012-Apr-22

2014-Apr-28 2012-Apr-28

NAGEMEN

applicable tosment (Mico

ng which is sment Agencwith an Enviresult, proje

process, NorNations detewill includeall communumber of Firquie and Ma

ngs, key envimanagement

eposits

Status PerOp

Active 100Active 100Active 100Active 100Active 100Active 100Active 100Active 100Active 100Active 100Active 100

Active 100

Active 100Active 100

NT AND SO

o developmen, 2010).

the submisscy (CEAA)ironmental Aect permittinront will bermined to b

e communitynity memberrst Nation carten Falls.

ironmental it, and access

rcent ption

0 Thunde0 Thunde0 AT 120 Thunde0 Thunde0 Thunde0 Thunde0 Thunde0 Thunde0 Eagle’s0 Blackbi

Two, Tr0 Blackbi

Two 0 Eagle’s0 Eagle’s

ent of the Ea

sion of a Pr. The projeAssessment

ng is not expe involved

be affected by meetings as to provideommunities

impacts are ls.

Deposits

erbird, AT12 erbird

erbird erbird erbird erbird erbird erbird s Nest ird, Eagle riple J ird, Eagle

s Nest s Nest

agle’s

roject ect is (EA)

pected in a

by the and a their have

likely

The f 5.1 Regiowher The Fwest serveand Tproje ChartServiFalls,extenAttawand lo Year-approNest or smacceswhichnorthSmalrequi 5.2 The cLongJanua2,400respe The ppenepBay acover

following is

ACCESS

onal access te there is a p

First Nationsand 120 km

ed by regulaTimmins sercts in the are

ter air servicice and Was, Webequie,

nded to give wapiskat wasocated appro

-round operaoximately 1.project. Dir

mall trucks iss is from thh is accessi

heast of the Ell ponds closire helicopter

CLIMAT

climate is wg winters extary is -27º C0 mm. The mectively.

property lieplain that sloand Hudsonred by string

SSIBILITY,

based on the

to the Eaglepaved, 3,880

s communitim south-soutarly schedulerve as suppoea.

ce to the prsaya AirwayLansdowneaccess to ths built to seroximately 15

ations perfo5 km northerect access tin the wintehe original Mble to float

Eagle’s Nestser to work ar support for

TE AND PH

arm in summend until spr

C, the mean mean annual

s within theopes gently n Bay to theg bogs and m

, CLIMATEAN

e description

e’s Nest prop0-ft airstrip, i

ies of Webetheast of Med air servicort centres f

operty is avys. A wintee House, Fore project arervice the Vic50 km east o

rmed by Noeast of the Bo the properr. Access t

McFaulds Laand ski-equ

t deposit. Aareas may for moving equ

HYSIOGRA

mer and veryring break-utotal annual

l maximum a

e James Bayfrom approx

e east and nomuskeg. Veg

E, LOCAL RND PHYSIO

ns provided i

perty is currin addition to

quie and OgcFaulds Lak

ce, primarilyfor the Jame

vailable wither road systert Albany anea. A side roctor diamondof the Eagle’

oront are baBlackbird prorty is by helito Esker camake exploratiuipped aircr

Alternative acorm potentiauipment and

y cold in wiup in April. Tl precipitatioand minimum

y Lowlandsximately 170ortheast. Thgetation is do

RESOURCOGRAPHY

in Golder, 20

rently from No all weathe

goki Post/Mke, respectivy from Thunes Bay comm

h West Caribem services

nd Attawapisoad to the wd mine site os Nest prope

sed at the Eoject and 30icopter in sump is througion camp esraft, and is ccess is alsoal winter iced transporting

inter, with frThe mean daon is 660 mm daily temp

of Norther0 masl in thehe terrain isominated by

ES, INFRA

010 and Mic

Nakina, 300 er roads and r

Marten falls avely. Both nder Bay. Bomunities and

bou Air Ser the commuskat, and cou

winter road froperated by Derty.

Esker Camp 00 m northeaummer and wgh Koper Lstablished onapproximat via Webequ

e strips. Advg personnel

reeze-up duraily minimu

mm, and the mmperatures are

rn Ontario, e property ars flat and swy moss, grass

ASTRUCTU

con, 2010.

km to the srailroad.

are located 9communitieoth Thunderd the explor

rvice, Nakinunities of Muld potentialrom MoosonDe Beers Ca

which is loast of the Eawith snowmoake. Alternn McFaulds ely 18 km uie by helicovanced progand supplies

ring late Octum temperatumean snowfe 1.9 and -8.

a poorly drrea toward J

wampy, genes and sedges

south,

90 km es are r Bay ration

na Air Marten

lly be nee to anada

ocated agle’s obiles native Lake north opter. grams s.

tober. ure in fall is .1º C,

ained James erally s with

sparscomplocall The mthe AEkwastringthe aRiver 5.3 InfrasMcFacompdeposkm to The limiteservic 5.4 The Mlies bnorthsomeriverstrembalong Charalynx.fox. inclupickerainb

ely scatteredpletely flat lly enhanced

main rivers wAtikameg Rian River. Ag bogs that harea and are r levels reach

INFRAST

structure in aulds Lake panies workisit, is used eo the south.

local serviced, but incluces and store

FLORA A

McFaulds Lbetween conih. Where it etimes stuntes and creekbling aspen g creeks and

acteristic lar Smaller mA number

ding Canadaerel (walleyow), whitefi

d stunted larandscape. Tby the prese

which drain iver, the Att

All of these rhave develocomposed o

h their maxim

TRUCTUR

the projectcamp is locing in the arexclusively b

es availableude airportses.

AND FAUN

Lake area is iferous and is poorly dr

ed black sprks, forests aand paper bin poorly dr

rger wildlifemammals are

of migratorya goose, ruffye), northernish and sturg

rch and blackThere are ocence of low

the general tawapiskat Rrivers flow eoped betweenof northern mum during

area consiscated on therea. The Esby Noront.

e at Attawap, health clin

in the Tundrmixed foresrained, vegeruce and tamare composebirch and rarrained areas.

e includes be numerous, y bird specifed grouse ann pike (jacgeon.

k spruce dueccasional pasand ridges

area includeRiver, the Meastward or nn local drainribbed fens

g spring runo

sts of the Eshore of M

ker camp, imThe closest

piskat, Webnics, public

ra Transitionsts of the claetation is primarack. Oned of largerely jack pin

barren-grounsuch as mues nest in thnd American

ckfish), trou

e to the veryatches of boror next to in

e, from southMuketei Rive

north into Janages. Wet

s, northern poff in late Ap

Esker and MMcFaulds Lammediately t town with

bequie and Mschools, ma

n Zone of thay belt to theimarily gras

n well-draineer balsam fine. Willow

nd caribou, buskrat, weasehe James Ban black duckut (lake, br

y poor drainareal forest w

ncised water

h to north, ther, the Winiames and Hutlands coverplateau bogspril to early

McFaulds Laake and is sadjacent to infrastructur

Marten Fallsail services,

he James Bae south, and sses, sedges ed raised be

fir, white ans and alders

black bear, wel, Americanay Lowlandk. Local fisrook, brown

age of this alwhere drainacourses.

he Albany Rsk River anudson Bays,r roughly 50s and palsa May.

ake camps. shared by se

the Eagle’s re is Nakina

s/Ogoki Poscommunica

ay Lowlandsthe tundra tand lichens

eaches and and black sps are also pr

wolf, moosen marten ans in the sumh species inn, speckled

lmost age is

River, nd the , with 0% of bogs.

The everal Nest

a, 300

st are ations

s that to the s, and along pruce, resent

e and nd red mmer, clude

The f EarlyCanaand osubsi In theResouAttawMcFa(McFof thethe idcarrieby Pultram NoroVMSdiscothe dultramcomp The DVMSBlackMinecompto No The f(subs(P&EEagleOntarprelimPrelimMcFaOctob

following de

y geological ada and the Ooccurred spoidiary of De

e early to murces Inc. (

wapiskat cluaulds Lake Faulds No. 1ese deposits,dentificationed out betwe

Probe Minesmafic rock a

nt discovereS mineralizaovery of the discovery of mafic complplex are the T

Double EaglS discoveriekbird (ENB)erals Inc., (npleted an exporont in early

first minerasequently renE) and is dise One Deporio, effectivminary assesminary Ecoaulds Lake Aber, 2008).

escription is b

work in the Ontario Deporadically beBeers, disco

mid-1990s, jo(KWG) discuster, as we

properties. 1 and No. 3), and the rec

n of six addieen 2004 ands Ltd. (Proband highlight

ed the Eagleation in 2007Eagle Two s

f the Blackblex as EagleThunderbird

le claims wes. The Do) Complex. now Hawk Uploration proy 2007.

l resource enamed Eagl

scussed in thosit, Doubleve date 3 Jussment for t

onomic AsseArea, James

based on Go

McFaulds Lpartment of etween 1959overing the A

oint venturecovered theell as the fiv

The first) were discocognition of titional VMSd 2006 identbe) on grouting the pote

e’s Nest mag7. Follow ushear-hosted

bird chromit’s Nest. The

d vanadium a

ere staked byouble Eagle

Noront optUranium Inogram in ear

estimate comle’s Nest) anhe report titl Eagle Prop

uly, 2008 (Pthe Eagle Oessment on Bay Lowlan

older, 2010 a

Lake area waMines. Exp

9 and 1990 aAttawapiskat

e partners SpGood Frid

ve Kyle sert volcanogevered in 200the region a

S deposits intified magneund held byential for Ni-

gmatic massup testing wd sulphide dete deposits ie most recentand Triple J

y Noront in Mproperty is

tioned the Ec.), which irly 2006 with

mpleted in tnd was prepled, Technicperty, McFaP&E, July, 2

One deposit the Eagle

nds, Ontario

and Micon, 2

as conductedploration actand resultedt kimberlite

pider Resourday and Maries kimberl

enic massive01 by follow

as a poorly exn 2003. Subetic high targy Noront, c-Cu-Cr-PGE

sive sulphidewith other ai

eposit. Drilin 2008, wh

nt discoveriesgold occurre

March, 2003s now referrENB Complin turn optioh 11 holes a

the area waspared by P&

cal Report anaulds Lake A2008). Subas reported One Depo

o, effective d

d by the Geotivities focu

d in Monoprcluster in 19

rces Inc. (SpacFayden kilites to the e sulphide w-up drillingxposed gree

bsequent geogets that werconfirming

E mineralizat

e deposit whirborne anomlling of this ohich are hoss by Noront ences.

3, following red to as thex claims tooned them tand returned

s for the Ea&E Mining nd ResourceArea, Jamesbsequently, in its Tech

osit Double date October

logical Survused on diamros, the Can988.

pider) and Kimberlites innortheast o(VMS) dep

g. The disconstone belt l

ophysical surre drilled in the presenc

tion in the ar

hile searchinmalies led toccurrence lsted by the

in the ultram

the Spider/Khe Eagle’s No Hawk Preto Probe. P

d the ENB C

agle One deConsultants

e Estimate os Bay LowlP&E preparnical ReporEagle Prop

r 20, 2008 (P

vey of monds adian

KWG n the

of the posits overy led to rveys 2006

ce of rea.

ng for to the led to same mafic

KWG Nest-

ecious Probe laims

eposit s Inc. on the lands, red a

rt and perty, P&E,

GoldBlackResouApril Micothe EEstimCana

er Associatekbird deposiurce Estimal 23, 2010 (G

on also prepaEagle’s Nestmate for theada, has an ef

es Ltd. (Goldits and pres

ate, McFauldGolder, 2010

ared a resourt deposit. Te Blackbird ffective date

der) preparedsented the eds Lake Pro0).

rce estimateThis report,

Chrome De of Decemb

d mineral resestimates in oject, James

for the Blac, titled Tech

Deposits, Jamer 31, 2009

source estimthe report Bay Lowla

ckbird chromhnical Repomes Bay L(Micon, 200

mates for the titled Techn

ands, Ontario

mite depositort on the MLowlands, N09).

Eagle’s Nesnical Reporto, Canada,

t, located cloMineral ResoNorthern On

st and t and dated

ose to ource

ntario,

A det2010 7.1 The MArchCanaMesoas mfaults

tailed descriand Micon,

REGION

McFaulds Lean Superio

adian Shield o-archean voicro-contines. The regio

iption of the 2010, on wh

NAL GEOL

Lake area is or Province.

and is the wolcanic and pents and are nal geology

7.0 GEO

e geological hich the foll

underlain by The Super

world's largeplutonic dom

separated bof the area i

Region

OLOGICAL

setting of thowing summ

y Precambririor Provincst, contiguou

mains and terby Neo-archis illustrated

Figure 7.1 nal Geologica

L SETTING

he McFauldsmary is based

ian rocks of ce is a part us, exposed rranes trendi

hean meta-sed in Figure 7

al Map

s Lake is incd.

f the northweof the centArchean craing from weedimentary .1.

cluded in Go

estern part oral region oaton. A seriest to east fobelts and cr

older,

of the of the ies of

ormed rustal

7.2 The Mgreendisaplack oairbo

A keycirclemagnmargcausebetweshowappeaROF.

McFaulds Lanstone belt loppears under of exposed srne geophys

y feature of e, 60 km innetic high isgin of a regied a domingeen highly d

w relatively sars that a se.

GEOLOGY

ake VMS deocated at thethe Paleozo

supracrustal sical surveys

the McFauln diameter, is a mantle-dional-scale g

g of the host deformed rocsimple aeromries of cond

eposits are ce eastern limoic cover. T

rocks in thes and diamon

McFauld

ds Lake areain the area derived, ultrgranodiorite Sachigo gre

cks within thmagnetic fabduits cutting

ollectively rmit of exposuThe greenstone region. Intend drilling. L

Figure 7.2 ds Lake Local

a is the formknown as tamafic intrupluton whi

eenstone belhe ROF and

bric, indicativacross the g

recognized aure of the Oxne belt is noerpretation iLocal geolog

Geology

mational magthe Ring of usion that hich, in turn,lt rocks. Th

d the youngeve of a simpgranodiorite

as an area wixford-Stull D

ot fully undeis almost excgy is illustrat

gnetic high tf Fire (ROF)has been em

has been ihe magnetic er rocks outspler deforma

have acted

ithin a signifDomain, wherstood due tclusively thrted in Figure

that forms a ) Intrusive.

mplaced alonintruded intohigh is a m

side the ROFational histor

as feeders t

ficant here it to the rough e 7.2.

half- The

ng the o and

marker F that ry. It to the

Afterwas Intrusintrusiron fbelowdeposaboveiron orthoBlackultram 7.3 The approof theEaglethe ugrano

r the depositmarked by sion. The sions that arformation anw the iron fsits, notablye the dykes formation, w

opyroxenite, kbird, Blackmafic sills.

Eagle’s Neoximately one Eagle’s Nee Two shear

ultramafic inodiorite. The

tion of the Rthe emplacultramafic

re structurallnd into the oformation ary including Ewere preferewhich has band chromit

k Creek, Big

DEPOSITS

est deposit ne kilometreest deposit,

r-hosted Ni-Cntrusive and e locations o

ROF iron focement of pdykes and

ly beneath thverlying ma

re host to thEagle’s Nestentially devebeen replacetite, probablDaddy, and

S AND MIN

is interpree, from the mNoront has

Cu-PGE depthe Triple Jf these disco

Map of ENB M

ormation, a mperidotitic t

sills cut thhe iron form

afic to intermhe magmatict, Eagle Tweloped at theed by extensly through ad Black Thor

NERAL OCC

eted as occmain ultrama

discovered posit, the BlaJ gold deposoveries are sh

Figure 7.3 Mineral Occur

major episoo dunitic dhrough olde

mation, and mediate lava c nickel-cop

wo and AT12e horizon fosive layereda process of r chromitite

CURRENC

curring wellafic intrusivethe Blackbirackbird Twosit at the cohown on Fig

rrence Locatio

de of ultramdykes and ser tonalitic they also cuflows. The

pper-platinum2. The ultra

ormerly occud sills of dun

magmatic adeposits are

l within a e. Two kilomrd One chroo chromite oontact betwegure 7.3.

mafic magmsills of the

to granodiut up througultramafic d

m group eleamafic intru

upied by the nite, harzbu

assimilation. e hosted by

conduit femetres south

omite deposioccurrence wen peridotite

atism ROF

ioritic gh the dykes ement usions

ROF urgite,

The these

eeder, hwest it, the within e and

7.3.1 The E(pyrrhlong,southperidwith A simaltereperidaltere 7.3.2 The Bwith stratiis evDrilliBlackdepth 7.3.3 The gtalc-agranois flaseverdepthBlack 7.3.4 Locatthat oboundemooccurthe uof a neigh

Eagle’s Neshotite, pentl up to seve

hwest and odotite dyke ta maximum

mplified lithed peridotitedotite with leed.

Blackbird chserpentine,

graphy has bvidence of fing during tkbird Two. h.

Triple

gold mineralaltered peridodiorite. Theanked by brral centimetrh of 300 m. kbird and Ea

ted 10 km nooccurs withindaries are de

onstrates thars as massivltramafic unfeeder, poss

hbouring pro

e’s Nest Dep

st deposit islandite, chal

eral tens of occupies thehat is presenwidth of ab

hological suce/dunite, seresser chromit

kbird Depos

hromite occutalc, tremo

been overturfolding to ththe 2010 cam This demo

e J Gold Mi

lization of thdotite hostinge sheared zorecciated qures to tens o

The zone iagle Two dep

2 Nickel-Cop

ortheast of En the ROF reelineated by at the AT12e, semi-mas

nit and positisibly the fee

operty.

s a sub-vertilcopyrite, mmetres thicke northwestnt in subcroout 75 m.

ccession of trpentinized te, talc-trem

urs entirely wolite-hornblerned and is dhe southwesmpaign internstrates that

ineral Occu

he Triple J ig the Blackbne consists o

uartz-rich fraf metres witis interpretedposits, with

pper Miner

Eagle’s Nestegion. It has a strong ma mineralizatsive, shear-hion relative teder for the

ically dippinmagnetite) in

k, and at letern marginop over a no

the intrusiondunite/peridolite schist,

within altereende, chloritdipping rougst of the dersected chrot the minera

urrence

is directly reird and Eaglof biotite-chagments. Tth a strike led as a large,a consistent

al Occurren

t, the AT12 obeen period

agnetic anomtion is hostehosted and dto the main

e Black Tho

ng body of a pipe-likeast 1,650 m

n of a vertiorth-south st

n from the bdotite with and gabbro

ed ultramafite, magnesighly 60° toweposit whereomite approxalization is o

elated to the le Two occuhlorite-actinoThe thicknesength curren, low grade strike of 065

occurrence idically drillemaly that trened by ultram

disseminatedintrusion m

or and Big D

massive mae form approm deep. It s

ically-inclintrike length

base upwardchromite bawhich is usu

ic rocks whiite and lesswards 335° (e the intrusximately 40open to the

sheared conurrences and olite schist wss of the zo

ntly defined gold occurre5° and a dip

s a Ni-Cu-Ped since 2008nds north-nomafic rocks.d sulphides.

may indicate tDaddy chro

agmatic sulpoximately 2strikes north

ned serpentinof about 50

ds compriseands and laually talc-ch

ch are assocser biotite. (azimuth). Tsion pinches0 m northeanortheast a

ntact betweethe hanging

which contaione ranges at 1 km andence flankin of 50°.

GE-bearing8 and the infortheast. Dr. MineralizThe geometthat AT12 ismite deposi

phide 00 m heast-nized 00 m,

s talc ayers,

hlorite

ciated The There s out. ast of and at

en the g wall ins or from

d to a ng the

body ferred rilling zation try of s part its on

7.3.5 The T4 kmnorthbe theleva

Thunderbirdm to the easth-south as pahe result of ated values o

derbird Va

d mineral occt of the AT1art of a magna mafic int

of vanadium,

nadium-Tit

currence is l12. The zonetic anomatrusion whic, titanium an

tanium-Iron

located 14 kne is demar

aly that is 7 ch hosts the

nd iron.

n Mineral O

km northeastrcated by a km long, 3

e magnetite-

Occurrence

t of the Eaglmagnetic hikm wide. T-rich ferroga

le’s Nest depigh which tr

This is thougabbro which

posit, rends ght to h has

A defrom The iinclumasssettin The fmaficas weand tThor The ENickeCanamost belt o A coundersulphminer

tailed descriwhich the fo

interpreted gding Ni-Cu+ive sulphid

focus of intec-ultramafic ell as to the the Thunderband Big Dad

Eagle’s Nesel Belt in M

ada. Archeanof that coun

of Ontario an

ommon featurlain by sulp

hur that beralization.

iption of theollowing sum

geology of th+PGE in maes (VMS),

erest within intrusion. TBlackbird c

bird vanadiuddy chromit

st deposit isManitoba acco

n komatiiticntry’s producnd Quebec a

ure of thesephidic sedimecame incor

e deposit typmmary has b

he area has agmatic mas

magmatic

the McFaulThe ROF is chromite depum-titanium-te deposits o

komatiitic. ount for onedeposits at

ced nickel. are also Arch

e deposits isments. It is grporated in

DEPOSIT T

pes at McFabeen extracte

been shownssive sulphidCr-Ni-Cu-P

lds Lake arehost to the

posit, Eagle -iron occurrn adjacent p

Proterozoie-quarter to oKambalda aSeveral sma

hean komatii

s that most generally be

the koma

aulds Lake ed.

n to be conddes (MMS),PGE, V+Ti,

ea is the ROEagle’s NesTwo and A

rence on Noproperties.

ic komatiiticone-third ofand elsewherall nickel miitic deposits.

of the ore-believed theseatiitic magm

is included

ducive to ma, Cu-Zn±Au, and gold

OF which is st Ni-Cu-PG

AT12 Ni-Cu-oront propert

c deposits of current nickre in Westerines in the A.

bearing kome sediments mas and ga

in Golder, 2

any deposit u in volcano

in shear-h

a mantle deGE MMS dep-PGE occurrty, and the B

of the Thomkel productirn Australia

Abitibi green

matiite is dirare the sourave rise to

types genic

hosted

erived posit, rence, Black

mpson ion in yield

nstone

rectly rce of o the

A deGold The Edissem 9.1 Masswith perhasolutimetamprobarecogpeak 9.2 Net-tframearrandense The indicwere represampthat wolivin Presescale containtrusthe reintrusformasatura

tailed descrier, 2010 from

Eagle’s Nestminated sulp

MASSIV

sive sulphidesubsidiary a

aps all the cion. The pmorphic conably indicategnize that thconditions w

NET-TEX

textured sulework, the

ngement is gee immiscible

voluminousate that it w

due to a sented in th

ples of the liwere gleanene and pyrox

ent research observed a

aminated by sion is entireequired sulpsion has beation, whichation.

iption of mim which the

t deposit is cphides.

VE SULPHID

es at Eagle’samounts of mcopper, waspentlandite pnditions, andes that it wa

he extreme dwill have bee

XTURED A

lphides areinterstices

enerally unde sulphide m

amount ofwas formed i

through-goihe intrusioniquid from wed from largxene as it pa

shows that at Eagle’s Nsulphide-ricely surroundphide in doueen interpreth has added

ineralization e following d

composed of

s Nest are comagnetite. As probably pprobably nud its occasioas more easdeformationaen erased by

AND DISSE

characterizof which

derstood to rmelt that has e

f sulphide ain a magmating volume n. The mafwhich the inge volumes ssed by.

in order to Nest deposit,ch crustal rocded by sulphubt. The prted as recod sufficient

MINERALIZ

at McFaulddescription h

f massive an

omprised of At peak metpresent withucleated andonal habit ofsily nucleateal textures t

y recrystalliz

EMINATED

zed by a are fully o

result from teffectively e

and ultramatic conduit.

of magma fic chilled mntrusion formof mafic liq

form a ma, a mafic orck. At the phur-poor felsresence of aording a pre

sulphide to

ZATION

ds Lake is phas been extr

nd net-textur

pyrrhotite, ptamorphic chin a homogd grew durif forming aled on disconthat may havzation.

D SULPHID

closely-pacoccupied bythe invasion expelled all t

afic cumulat It is believ

a much greamargins canmed; the ultquid that de

ass of immisr ultramafic

present level sic intrusive

abundant maevious episoo the magm

provided in Mracted.

red sulphide

pentlandite, conditions, ageneous moing retrogreong the marntinuities. Ive existed in

cked orthocy sulphide of a silicate

the interstitia

tes present ved that sulpater than w

n be interpretramafic roceposited sma

scible sulphic magma mu

of exposuree rocks, leavagnetite-richode of assi

ma to induce

Micon, 2009

s with little

and chalcopall the nickelonosulphide ssion from rgins of fracIt is importan the sulphi

cumulate-texminerals.

e crystal blenal silicate me

at Eagle’s phides left bewhat is preseted to reprks are cumuall incremen

ide liquid oust have bee, the mineraving the origh xenoliths iimilation of e sulphide l

pyrite, l, and solid peak

ctures ant to ide at

xtured This

nd by elt.

Nest ehind sently resent ulates nts of

n the come alized gin of in the f iron liquid

A dewhich Sinceoccurhole drillin 10.1 Late to per Someoverbdevelarea bto covand AAerothe 20 Noroaxis tHigh coverHRA The Atexturbut pthe m 10.1. An aiout boperawhichidentsurvesulphultram

tailed descrh the follow

e Noront acqrrences in 20diamond dr

ng by Noron

AIRBOR

in 2007, Norrform an Ae

e weak or dburden in thloped fifth-gby Geotech,ver approximAugust, 200TEM system008 explorat

nt has also utripper Elec

Resolutionred the Eagl

AM also cove

AeroTEM ared sulphideicked up the

massive sulph

1 2003 F

irborne magby Fugro Aiating base ah added deified several

eys were ushide mineralimafic units t

iption of exing summary

quired the c003 and 2006rill programnt since 2007

RNE GEOPH

ront commiseroTEM III t

deeply buriedhe ROF regiogeneration V, and Norontmately the sa08. The VTm. The resultion program

undertaken ttromagnetic

n Aeromagnle’s Nest, Blered the AT1

and horizontes, indicatinge less conduchides.

Fugro Airb

gnetic and elirborne Surv

at Pickle Laketail to the l bedrock cosed to identization in ththat host the

xploration aty of work on

claims that i6, a total of

m completed7.

HYSICS

ssioned a coltime domain

d conductoron were mo

VTEM systemt commissioame survey TEM detectelts became a

m but were u

hree additioc Survey (ZTnetic Gradienlackbird, Eag12 project an

tal loop eleg that these sctive net-tex

orne Survey

lectromagnetveys (Fugroke, Ontario.geophysicanductors thatify potentia

he area, and se Blackbird

EXPLORA

t McFaulds n the Eagle’s

include the 13 geophysi

d by Probe

llaborative relectromagn

s under the ore thought tm. This sy

oned a seconblocks and wed additionavailable too

used to guide

nal airborneTEM) survent (HRAM)gle Two andnd the HRAM

ctromagnetisurveys did n

xtured miner

tic survey oo) between J A total ofl informatio

at closely coral targets foshowed the deposits. A

Lake is pros Nest depos

ENB Compical surveys in 2006, an

regional survnetic survey

thick and cto be readily

ystem had alnd time domwas completal conductorlate in the y

e work in 200

e surveys: a gey during th) survey in d Triple J prM covered th

ic (HLEM) not respond alization. A

ver the McFJuly 26 andf 2,148 lineon availablerrelated withor VMS-stystrong magn

A ground su

ovided in Gosit has been

plex, AT12 undertaken,

nd continuo

vey and conty over the pro

commonly hy detected ulready been

main airborneted by Geoters that wereyear to have 09.

gravity Air-Fe late springlate 2009.

rojects, whilhe Thunderb

profiles cenwell to the

A magnetic p

Faulds Lake d August 10e-km of datae in the areh magnetic ayle mineraliznetic anomal

urvey using a

older, 2010 extracted.

and Thundeas well as aus and on-g

tracted Aerooject areas.

highly conduusing the rec

mobilized te survey (VTech in June, e invisible ta major effe

FTG surveyg of 2009, a

These surle the ZTEMbird area as w

ntred on themassive sulp

peak is centre

area was ca0, 2003, froma were colleea. The suanomalies. Tzation and lies related ta horizontal

erbird an 11-going

oquest

uctive cently to the TEM)

July, to the ect on

, a Z-and a rveys

M and well.

e net-phide ed on

arried m an ected, urvey These other to the l loop

electrwas c 10.1. In latairboin cocontrsystem Twelexplo The nrepreinto souththe gsouthof wh(Eaglby gSouthmagncorrepromalternpresethat tsyncl 10.1.3 The VCompthe fi 10.1. Bell Compdirect10.3

romagnetic scompleted in

2 2007 N

te 2007, folrne magneti

onjunction wracted to flym.

lve anomalieoration was r

northwesternsent the basthe block, t

hwest lineamgranodiorite heastern marhich containle Two, Blac

granodiorite, heast of thisnetic rocks spond to the

minent highlynating high ence of magnthis is a sillline.

3 2008 V

VTEM survplex, AT12 irst three targ

4 2009 G

Geospace Inplex in Janution with pekm long and

system and mn 2004.

Noront Aer

llowing the ic and electr

with other JVy the survey

es were idenrecommende

n edge of thsement gneisthere is a b

ments interprhosting the

rgin of the mn bedrock cockbird, Eagl

similar to s belt of ultrthat also she iron formay magnetic and very hignetite-rich gl-sediment c

VTEM Airb

vey flown onoccurrence

gets was con

Gravity Gr

nc., of Housuary and Feberpendicular d the tie line

magnetomet

roTEM III H

discovery oomagnetic sV stakeholdey using the

ntified (13 ed for seven

he survey blss complex wbroad zone reted to repr

Eagle’s Nemagnetic quie

nductors thale’s Nest, AT

Eagle’s Neramafic and how intermiation of the R

structure sgh magnetic

gabbro in thecomplex tha

borne Surve

n behalf of Nand Thunde

nfirmed.

adiometry A

ston Texas, cbruary, 2009

tie lines. Tes were 17 k

ter was sugg

Helicopter S

of the Eaglesurvey over aers in the reAeroTEM

including thof the twelv

lock shows with variablof muted mresent a stacest deposit aet zone is a at are now kT12, ), appeest, and as mafic intru

ittent bedrocROF. In theshowing whc susceptibile most magn

at has probab

Noront in eaerbird occurr

Airborne Su

completed a9. The surveThe flight pakm long and

gested at the

Survey

e’s Nest depa more extenegion. AeroIII helicopt

he Eagle’s Nve anomalies

moderate mle amounts omagnetic rescked series oand the AT1string of hig

known to be earing both a

a lineamenusions, there ck conductie far northeahat appear lity. Drillinnetic portionbly been fo

arly 2008 corence and th

an airborne gey was flownaths were sp

d 1,000 m ap

e recommend

posit, Noronnsive area inoquest Ltd. ter transient

Nest deposis.

magnetic respof magnetitesponse and of felsic intr12 mineral oghly magnetiintrusions o

as isolated bnt spanningis a second

ivity, and isast of the prto be conc

ng in early 2n of this stru

olded into a

overed the ahe existence

gravity surven in a northwpaced 100 mpart. In tota

ded location

nt carried oun McFaulds (Aeroquest)

t electromag

it) and follo

ponse inferre. Southeastsubtle north

rusions similoccurrence. ic bodies, se

of ultramaficodies surrou the entire

d string of hs now knowroperty, thercentric laye2009 revealeucture, indicdoubly-plun

areas of the of conducto

ey over the west to sout

m apart and al, there were

ns and

ut an Lake

) was gnetic

red to tward heast-lar to The

everal c rock unded

belt. highly wn to e is a rs of

ed the cating nging

ENB ors at

ENB theast were

lines Inc. a 10.1. A hesurveand mdirect200 mL457 ExtraformuGeote 10.1.

SimudurinlocateBlack A totlines. Four CalcuTerra 10.2 Noro2004J min Durinin theC. Fthe Ethat w DurinProbe

and 11 tie liat 1:50000 sc

5 2009 Z

elicopter-borey was perfomagnetometetion were flom with no ti75.

acted from tulated into ech.

6 2009 Surve

ultaneous HRng October aed in the ROkbird deposi

tal of 11,163.

magnetic mulated Verticaquest XDS V

GROUND

nt conducte, on two sep

neral occurre

ng 2006, Coe Blackbird-ollow-up dr

Eagle One Dwere optione

ng the wintee/Noront JV

ines. A finalcale.

Z-Axis tripp

rne ZTEM sormed to maper data. A toown coverinie lines, alth

he data wer1:20000 sc

High Reseys

RAM and Vand NovembOF. Block Bts, and Eagle

3 km of dat

maps and 6 cal MagnetiVLF-EM sy

D GEOPHY

ed a ground parate grids wences.

ondor DiamoEagle Two-illing was co

Deposit (nowed to Noront

er of 2008, tV in 2003,

l gradient co

per Electro

survey was p the geologotal of 896 k

ng an area ofhough infill

re both the Icale maps.

olution Ae

VLF-EM suber, 2009 coB, in the soute Two, Tripl

a were colle

XDS-EM mic Gradient mystem produc

magnetic awhich includ

ond Corp., (CTriple J areaonducted wi

w referred to.

he ground gwere re-occ

olour contou

magnetic G

flown in Mgy in the ENkm of flight f 165.8 km2. lines were c

In-phase and Follow-up

eromagnetic

urveys compovered two bthern part ofle J, AT12 a

ected along

maps were pmaps were ced good res

nd horizontded the Blac

Condor) cona. Three anoith anomaly

as Eagle’s

geophysical cupied, and

ured map wa

Geophysical

May, 2009 GNB Complex

lines oriente The flight

completed at

d Quadrativp interpreta

c Gradient

pleted by Tblocks, knowf the ROF, in

and Thunderb

100 m fligh

produced byproduced fo

solution and

al loop EMckbird depos

nducted an inomalies werA, which wNest) situat

Grid 1 and new survey

s produced b

Survey – A

Geotech Ltd, by using re

ed in a northline spacingt 50-m spac

e componenation was r

t and VLF

Terraquest Lwn as Blockncludes the bird mineral

ht traverses

y Terraquesor both blocconsistent re

M survey in Msit and Eagle

nfill ground re identified,

was subsequeted on one o

Grid 2, origys were con

by Bell Geos

Airborne Sur

. (Geotech).esistivity con

hwest to soutg was generacing from L4

nts; this dataecommende

F-EM Airb

Ltd. (Terraqk B and Bloc

Eagle’s Nesl occurrence

with 1,000

st, and TMFcks as well. esults.

March ande Two and T

magnetic su, named A, Bently identifiof the two c

ginally cut fonducted bet

. The ntrast theast ally at 4555-

a was ed by

quest) ck D, st and s.

F and The

April Triple

urvey B and ied as laims

or the tween

JanuaoriginNove An iDece 10.2. In MsepardeposToronto a b Condinterpsulphassocsulph 10.2. In 20Lake NoroCondpartiaanomExploclaimcondu 10.2.3 HLEMSeptespaci25 m The Eand b

ary and Manal extent ember, 2008.

induced polmber, 2007.

1 2004 G

March and Arate grids ovsit. The datnto, Ontariobase line tren

ductive axes preted to behide mineraliciated with hides.

2 2006 C

003, Condorarea based nt and the E

dor took parally covered

maly with an oration Ltd.

m. Three anucted and An

3 2007 M

M (or MaxMember and Oing of 12.5 m.

Eagle’s Nestby strong 440

ay, 2008. Gof Grid 2. .

larization (I

Ground Ma

April, 2004, ver its mineraa were comp. Ground su

nding 045°, u

of bedrock e intermediaization. Wegold and th

Condor Dia

r Diamond Con a regiona

Eagle’s Nest rt in a grou

d one of thesassociated E to survey

nomalies wenomaly A w

Magnetics,

Min) and maOctober, 20m. HLEM su

t deposit is m0 Hz HLEM

Grid 2 was Ground s

IP) program

agnetic and

Noront caral claims in piled and int

urvey grids wusing GPS f

origin were ate to maficaker responshe strong c

amond Corp

Corp. (Condal aeromagndiscovery w

und magnetise claims. TEM responseinfill lines a

ere identifiedwas identified

HLEM and

agnetic surve07. Total murveys were

marked by aM anomalies c

extended tosurveys we

m was cond

Horizontal

rried out twthe McFaul

terpreted by were cut withfor reference

mapped wic volcanic rse was assoc

conductance

p. In-fill Gr

dor) stakedetic survey;

was made onic and horizThe survey re. In Februaand to extend and namedd as Eagle’s

d Gravity Su

eys were commagnetic intee done at a c

a distinct maconsistent w

o cover Norere conducte

ducted on E

l Loop EM S

wo ground glds Lake areScott Hogg

h a line intee.

ithin and adjrocks with aciated with p

was associ

round Magn

several mintwo of the c

n claim numzontal loop revealed an ary, 2006, Cnd the survd A, B andNest deposi

urveys over

mpleted oveensity readi

coil spacing

agnetic highwith multiple

ront claims ed between

Eagle’s Nes

Survey

geophysical a, including

g & Associaterval of 200

jacent to maa conductivpyrite mineraiated with p

netic Survey

ning claims claims were

mber 3012264electromagnelliptically

Condor contrvey to includd C. Followit.

r Eagle’s Ne

er the Eagle’ings were mof 50 m wit

h with a peake shallow, str

northeast oSeptember

st drill hole

surveys onthe Eagle’s

tes Ltd. (SHAm, perpendi

agnetic anomve response alization pospossible ma

in the McFlater option

4. In early 2netic surveyshaped magacted Greende the north

w-up drilling

est Deposit

’s Nest depomade at a stth readings e

k over 10,00rong conduc

of the r and

n two s Nest A) of icular

malies from

ssibly assive

Faulds ned to 2004, y that gnetic nstone hwest g was

osit in tation every

00 nT tors.

10.2. Durindeposrough 10.2. Magncompof Bl 10.2. A ‘SQand Sout blines by 80of-looused The 640025-mEagle 10.2. A Lawavemagnfollow(Lamcoverm, 80In gethe remeas The l4100 8100m/50and EAT4,

4 2007 G

ng the fall osit. The Eahly circular g

5 2008 M

netic, VLF, pleted by JVXackbird One

6 2010

QUID’ survSQUID (Supby Crone Ge

covering ab00 m and 800op measuremin-loop measurvey coveE, 2900E-34

m station spae Two depos

7 2010

amontagne Seform Timenetic receivew-up in som

montagne) bering 164.5 k00 m by 1,20eneral, out-oeading linesurements.

large survey -4600E, 4

E-8400E, 8 m station s

Eagle Two d AT5, AT6,

Gravity Sur

of 2007, JVXagle’s Nest dgravity high

Magnetic, V

HLEM, gX in 2008. T

e, which beca

Surface EM

vey, consistinperconductinophysics &

bout 30.65 km0 m by 1,200ments were asurements. Tered three cl400E, 900N-cing. The Ssit.

Surface EM

Surface UTEe Domain er. Frequeme areas. etween Junem of data ut00 m, 1,200f-loop meas

s, except for

covered 12 4800E- 540800N-1100Npacing. The

deposits. It a, AT7, and n

X Ltd. (JVXdeposit is cof 0.6 mGal

VLF, HLEM

ravity and The results yame known

M – Crone S

ng of a Crong Quantum

Explorationm of data ut0 m) with Z made, excepThese were laims owned-100N, 3500SQUID syst

M – Lamonta

EM survey wElectromagn

encies of 31The survey

e 21 and Detilizing 11 su m by 1,700

surements wr several line

claims 100%00E, 5600EN and 1300Ne Surface UTalso respondnortheast of

X) completedlearly markel, which may

M, Gravity a

large loop yielded a secas the Black

QUID syste

ne Pulse TimInterference

n Ltd. (Cronetilizing eightand X comp

pt for two lisurveyed dud 100% by 0E-4000E, aem responde

agne UTEM

was also carrnetic transm Hz were u

y was conduecember 2, 2urface loops0 m, 1, 900 m

were made wes over the

% owned NoE-6100E, 6N-1800N, uTEM system

ded to knownf Eagle’s Ne

d a gravity sed in the rey be open to

and Large L

transient Econd anomalkbird Two an

me Domaine Device) me). The sut surface looponents beinines over th

uring the perNoront, on

and 2800N, aed to the Ea

M system

ried out, usinmitter and used primaructed by La2010. The (1,000 m bym by 2,000

with loops poEagle Two

oront on line6300E-6400using 50 m

m respondedn VTEM cost. In addit

survey over esidual Bougo the south.

Loop TDEM

EM (TDEMly continuinnomaly.

n Electromagmagnetic receurvey consisops (400 m bng measuredhe Eagle Twriod May 22 n lines 500Nall at 200-m agle’s Nest o

ng a LamonLamontagn

rily, and 4 Hamontagne survey consy 1,000 m, 1m and 1,700ositioned to deposit, wh

es 100E-2000E, 7600E,

/100 m lined strongly to onductors at tion, four po

the Eagle’s guer gravity

M Surveys

M) surveys g to the nort

gnetic transmeiver, was casted of 40 suby 400 m, 8

d. In generalwo deposit, w

to July 27, 2N-1000N, 59 line-spacingore body an

ntagne continne Z-compoHz was useGeophysics

sisted of 76 1,100 m by 0 m by 2,00the northwe

hich used in

0E, 400E-39, 7900E-80e-spacing anthe Eagle’sAT1, AT2,

ossible Chan

Nest y as a

were theast

mitter arried urface 800 m l, out-which 2010. 900E-g and

nd the

nuous onent

ed for Ltd. lines

1,150 0 m). est of

n-loop

900E, 000E, nd 25 Nest AT3,

nnel 1

conduloopscondu 10.3 10.3. Norothem grounstemmwere airboin ear 10.3. Betwborehrare csmall 10.3.3 In 20m, oncircumsmall 10.3. In 20Lake NQ sthe la 10.4 10.4. BorehAuguMise

uctors were s’ off to thuctors.

DIAMON

1 2006 P

nt optioned to Probe.

nd and airboming from th

favourable rne geophysrly 2007.

2 2007 a

ween Februarholes on the circumstanceler BQ size c

3 2009 N

009, betweenn the McFaumstances wler BQ size c

4 2010 N

010, seven drproperty. T

size core, hoarger HQ siz

1 2008 D

hole Spectraust, 2008 on -a-la-masse)

identified, whe southeast

ND DRILLI

Probe Diam

the McFaulProbe drille

orne geophyhe diamond for the pre

sics and diam

and 2008 N

ry and DecMcFaulds Les where rodcore was use

Noront Dia

n three and fulds Lake pr

where rods bcore was use

Noront Dia

rills were usThis include

owever, one ze core.

EXPLORA

Drill Hole I

al IP/resistiv13 drill hole

) were used.

which were t, in order

mond Drill P

lds Lake claed 11 holes ysical targets

drill programesence of Vmond drilling

oront Diam

cember, 200Lake propertyds became led to continu

mond Drill

five drills wroperty. Thebecame lodged to comple

mond Drilli

ed to produced the deepehole produc

ATION WO

IP Surveys

vity surveys es. Direction. Chargeabi

recommendto test for

Program

aims to Hawbetween Fe

s identified m were that

VMS-type deg was propos

mond Drill P

08, three driy. The majolodged in a hue drilling th

Program

were used to e majority prged in a hoete the hole.

ing Program

ce 63 drill hoening of holced the small

(BHIP) wern logs (Gradility profiles

ded for furthanomaly sy

wk Uranium ebruary andfrom previothe geology

eposits and sed. Probe r

Program

ills were usority produchole withou

he hole.

produce 161roduced NQ

ole without

oles totallingle NOT-09-0ler BQ size

re performeddient) and des show four

her follow-uymmetry an

Inc. which, April, 2006

ous surveys. y and geophy

a second-phreturned the

sed to drill ed NQ size c

ut the possib

1 drill holesQ size core.

the possibi

g 41,545 m, 049. The mcore, and on

d by JVX betection logs

chargeable

up, using ‘flind to verify

in turn, opti6, to test sel

The concluysical indicahase prograclaims to N

127 explorcore, howev

bility of reco

, totalling 59However, inlity of reco

on the McFmajority prodne hole prod

between May (Pole-dipolzones centr

ipped y the

ioned lected usions ations am of

Noront

ration ver, in overy,

9,959 n rare overy,

Faulds duced duced

y and e and red at

72.5 miner 10.4. Betwusing(Cronconduholestexturprove 10.5 10.5. Eagleform verticmargnorthsulphthis bby sethroudyke The estate deforsulph The hthe oBecauand rsurve DiamresouNOTbetterbeyondepthtip of

m, 112.5 ralization ac

2 2009 t

ween 2009 ang borehole ne). Since Mucted 31 Hz s, 4 Hz wasred sulphideed valuable i

RESULT

1 Eagle

e’s Nest is aof a flatten

cally to 1,65gin of a vertih-south strikehides within body, and areerpentinized ughout the m

is open at thexact attitudbecause of

rmation is evhide, the bod

host rock ofoverlying Ruse the host

relatively lowey data.

mond drillingurce minerali-08-035 werr delineate tnd the edge h but this waf the deposit

m, 172.7 mccounted for

to Present D

nd May, 201electromagn

May, 2010, aborehole U

s used as a es. These suin the Eagle’

TS OF FIEL

e’s Nest Dep

a sub-verticaned pipe app50 m. The dcally-inclinee length of athe top 250

e bordered tperidotitic c

mineralizatiohe north and

de of the sulpthe irregula

vident aroundy appears to

f the Eagle’sROF iron fot rocks are mw density, th

g in the fall ization aheare drilled inthe mineraliz

of the dykeas not encou.

m, and 212the observat

Drill Hole E

10, the majonetics (BHEall surveys TEM surveyfollow-up t

urveys were ’s Nest area

LD PROGR

ally dipping proximately deposit remaed serpentiniabout 500 m 0 m are confo the southecumulates.

on and, in sod south endsphide-filled arity of the nd the contaco be essential

s Nest ultramormation bumagneticallyhe intrusion i

of 2007 hadad of the starn February, zed zone. He to test for untered. Ho

2.5 m, resptions listed a

EM Surveys

ority of drill EM) by Crhave been p

ys in 55 drillto distinguismodeled exfor guiding

body of ma200 m long

ains open aloized peridotiwith a maxi

fined to a voeast by a thic

Below 250 ome cases,

s, and plungekeel at the ncontact. A

cts, particulally still in pl

mafic dyke iut clearly pry inert felsicis easy to re

d essentiallyrt of the 2002008, to tes

Hole NOT-0the possible

ole NOT-08-

ectively, usabove.

holes targetrone Geophyperformed bl holes usingsh between

xtensively andelineation

assive magmg and 60 m ong strike anite dyke thatimum width olume occupcker zone of

m, the masinto the sures very steepnorthern tip

Although a carly where thlace and not

is granodioriredates the c rocks withecognize on m

y outlined th08 drill progst gaps in th8-030 was a

e presence o-031 was us

sing gradien

ting sulphidehysics and Eby Lamontagg 15 loops in

massive sund the resultdrilling.

matic sulphidthick, and c

nd occupies t is present iof about 75

pying the nof net-texturedssive sulphidrrounding grply to the soof the dyke

considerable hey are occusignificantly

ite that appaintrusion o

h little or nomagnetomet

he limits of gram. Holeshe previous allowed to ruof another uled to determ

nts. No kn

es were survExploration gne. Lamontn 2010. For ulphides andting plate m

des (MMS) icurrently dethe northwe

in subcrop o5 m. The maorthwestern td sulphide hdes can be franodiorite. outh or vertice is impossib

amount of upied by may deformed.

arently post-of the perido structural fter or gravim

the Eagle’s s NOT-08-0coverage an

un almost 2ltramafic bo

mine the nor

veyed Ltd.

tagne some

d net-models

in the efined estern over a assive tip of

hosted found The cally. ble to local

assive

-dates dotite. fabric metric

Nest 030 to nd to

200 m ody at rthern

Inspeand ecalledstrikesouthhopesthese037, drillinultram037 wnearlyscreethe EpasseNOTEasteminerwesteencoushowbreccdeposof posulph The southevideconfiempltakensubjeaxis intruscontatexturfollowassim The pazimuoverton th

ection of the east of the Ed the Eastere with the Eh of Eagle’s s of locating appear in thand NOT-0ng on Eaglemafic dyke bwas collaredy 100 m of n of granod

Eagle’s Nest ed completel-08-039, wh

ern dyke anralization wern margin untered near

ws that all ofcia and hassition. The

otassic mafichide minerali

near total aherly intersecence for stoprm that the acement. If

n as a paleoected to a rigoriented at Nsion ascendiaining the Bres, stopingwed a brittle

milation of th

present plunuth of N180turned, then he assumptio

magnetomeEagle’s Nesrn dyke. A Eagle’s Nest

Nest and ing other podshe plans and 8-038 were e’s Nest. Tbefore runnid in the serp

very weaklydiorite that s

dyke. Holely through bohich was cond the Eagl

was intersectof the Easte

r the westernf the mineral, therefore, host magma

c dykes thatization.

absence of sctions, coupping of the bottom of t

f the roughlyo-horizontal ght-handed roN030º. In ing along a sBlackbird de, and repeat

e fault whichhe previously

nge of the ke0º from surfafuture effor

on that the o

eter survey rest dyke, but

third, the St dyke. Sevnto the Eastes of sulphidsections reldrilled alon

The first waing back outpentinized uly disseminaeparates thee NOT-08-0oth it and th

ollared 100 mle’s Nest dted by hole ern dyke. An margin of tlized peridobeen transp

a in the matrt are commo

sulphide minled with thehost rocks athe Eagle’s

y flat surfaceplane then otation of abthis interpreshallowly ineposit. Theted re-intrush would havy fractured w

eel of the dyface to a depts to locate

original base

esults indicaoffset en ec

Southern dykveral holes wern dyke durde in the samating to Eag

ng section 58as collared t into granodltramafic roc

ated sulphidee two ultram038 was collhe Eagle’s Nm further so

dyke. A smNOT-08-03

A second zothe Eagle’s Ntite occurs aported alonrix of the bron throughou

neralization e presence ofalong the soNest dyke

e of the souththe entire s

bout 100º (i.etation, the clined fractu

e abundant psion along the simultaneo

wallrocks.

yke at the lepth of 300 mmore pods o of the dyke

ates that therchelon to thke, occurs swere drilledring the summe general ugle’s Nest. H843425 N, 1in granodiodiorite on thck of the Eae mineraliza

mafic dykes lared to the est dyke. Thouth and agmall amoun39 about 20one of weakNest dyke. Cas blocks ho

ng the dykereccia belongut the depos

in the Eagf extensive m

outheastern mwas the norh-eastern limsystem can e. slightly ovdyke originure towards presence in he same axously guided

evel of the dm. If the dyof sulphide de, and any su

re is a secondhe southeastsouth of bothd into the Eammer and falultramafic s

Holes NOT-0100 m southorite and pashe west sideastern dyke,

ation before and passingeast of the Ehe last hole

gain passed tnt of dissem00 m belowk disseminatCareful inspeosted by an ie from its ogs to the musit area but

gle’s Nest dmagmatic brmargin of thrthwestern t

mit of net-texbe considerverturned) aally was a fthe base of the dyke o

is, suggests d the intrusio

deposit is abyke system hdown plungulphide-host

d dyke paralt. This has h of these, aagle’s Nest ll of 2008, iystem. Som08-036, NOTh of any prevssed through. Hole NOT, passing threncounterin

g entirely thrEastern dykein this seriesthrough bot

minated sulpw surface onted sulphideection of theintrusive ignoriginal poinuch younger do not carry

dyke in the reccias with he dyke, tenip at the timxtured sulphred to have about a horizflat blade-shthe overlyin

of autobreccthat the co

on and facili

bout 70º alonhas been slie should be ting embaym

llel to been

along dyke

in the me of T-08-vious h the T-08-rough ng the rough e and s was th the phide n the e was e core neous nt of suite

more clear

nds to me of ide is been

zontal haped ng sill ciated onduit itated

ng an ightly done

alongthem Hole 87.5°originproxiidentout oto reawas idrillinof thereachprojeNOT1,100now Hole boreh

g it, might bbeneath Eag

NOT-09-04°) targeted tonal Eagle Oimity to the ifying other

of the main faching the dinitially inteng focused oe body form

h the deeperct in July, 2-09-069A, w

0 m. All gabeen filled iNOT-10-08

hole electrom

be at lower pgle’s Nest an

49, initially do trace the in

One (Eagle’sconduit in opotential le

footwall grandepth limits erpreted to bon a series o

merly referrer targets, Te2009. The dwhich extenaps along thin and the m85W2 intersmagnetic geo

paleolevels tnd, possibly,

designed as nterpreted sus Nest) discoorder to laterenses of nicknodiorite-peof the drill r

be two additof angled holed to as lensech Directiondeepest inter

nded the knohe vertical lemineralizationsected 203.3ophysics ind

than the cur, slightly to t

a BHEM plaub-vertical dovery. Ther employ dowkel and coppridotite condrig at 1,004

tional lensesles along eases Eagle 1Bnal Servicesrsection at Eown mineralength defininn was expan

3 m of minedicates that th

rrent Eagle’sthe southwe

atform, was dipping conde intention wwn-hole geoper sulphideduit contact .1 m. This

s (Eagle 1B ast-west crosB and Eagles commenceEagle’s Neslization at Eng the minended at deptheralization tohe mineraliz

s Nest pod; st.

near-verticaduit system twas to exploophysics withes. This holno less thandiscovery hand Eagle 1

ss sections tae 1C. In ored directionat by the end

Eagle’s Nesteralization toh during theo a depth o

zation contin

this would

al (with a dipthat emplaceore in very h the intentile crossed inn five times hole defined 1C). Subseqargeting the rder to accural drilling od of 2009 wt down to bo this depth e 2010 campof 1,350.8 mnues below th

p of -ed the close

ion of n and prior what

quent areas rately n the

was in below

have paign. m and his.

NoropropeEagleForagby Cwherwere when

Norothe Eholeson 20encou The minstanto cowith (Gyroexcel All hby Cawere 064-WNOTCyr. helico The EverticEagle

nt has drillerty in 2007e’s Nest depge Orbit Garabo Drillingeas Cyr woraccomplish

n surface trav

e’s Nest

nt mobilizedEagle’s Nest s totalling 620 m sectionuntered to da

majority of nces, where

ontinue the han accuracyoSmart) mellent.

holes drilled abo. All othdrilled by O

W2, NOT-0-10-079-W1 All core waopter.

Eagle’s Nescally and reme’s Nest dep

ed a total o7, up to 31 posit is provirant (Orbit),g Corporatiorks with Imphed by truckvel was not p

Summary o

2007 29

d drilling updeposit is lo

2,223 m werens over a strate is -1,300

the Eagle’s drill casings

hole. All coy of + 30 cmeasuring dip

in 2007, as her holes driOrbit with th09-069 (ab1, NOT-10-0as flown into

st deposit wmains open aosit.

of 377 holeDecember,

ided in Tabl and the rem

on (Cabo). Operial measurk, tractor or possible.

of Diamond Dr

200817

pon acquisitiocated. Betwe drilled at trike length m below su

Nest holes s became lodollar location

m and downhp and azimu

well as 200illed in 2008he exceptionandoned), N079-W2, NOo camp by h

as intersecteat depth. Tab

0 DRILLI

es and 153,62010. A

le 11.1. Themainder by COrbit and Crements, wh

snow mach

Table 11.1 rilling Listed b

ion of the Cween May, 2the Eagle’s Nof 200 m a

urface.

were drilleddged in a hons were surhole surveysuth every 1

8 holes NOT8, as well asn of holes NNOT-09-069

OT-10-093 ahelicopter, an

ed in 116 oble 11.2 lists

674 m sincesummary o

e majority oCyr Drilling

Cabo drillinghich are convhine when a

by Year for E

2009 45

ondor claim2007 and DeNest project.and the deep

d to produceole, smaller rveyed usings were recor15 m. Cor

T-08-030 ans most of tho

NOT-09-064,9A, NOT-0and NOT-10nd all drill m

f the 124 hs the signific

e mobilizingof the annuaof drilling wg Internationg is providedverted to metaccessible a

Each Project

2010 33

ms in May, 2ecember, 20. Holes werepest mineral

e NQ diameBQ core wa

g a Trimble rded using are recovery

nd NOT-08-ose drilled in, NOT-09-0609-069A-W0-099 whichmoves were

holes. The dcant intersec

g drills ontoal drilling o

was carried oal Ltd. (Cyrd in metric utres. Drill m

and by helic

Tota124

2007, upon w10, a total oe typically splized interse

eter core. Inas drilled in

differential a gyro instru

was consid

033, were dn 2009 and 264-W1, NOT1, NOT-10h were drilleaccomplishe

deposit dipsctions throug

o the n the

out by r) and units,

moves copter

which f 124 paced ection

n rare order GPS

ument dered

drilled 2010, T-09-

0-079, ed by ed by

s sub-gh the

NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0

Number F

07-001 07-001 07-001 07-002 07-002 07-002 07-005 07-005 07-005 07-007 07-007 07-007 07-007 07-007 07-007 07-008 07-009 07-009 07-009 07-009 07-009 07-009 07-010 07-010 07-011 07-011 07-011 07-011 07-011 07-011 07-011 07-012 07-012 07-012 07-012 07-014 07-014 07-014 07-014 07-014 07-014 07-015 07-016 07-016 07-016 07-017 07-017 07-017 07-017 07-018 07-018

From (m)

To (m)

55.00 126.56.00 92.92.00 126.91.10 177.91.10 149.

149.00 177.7.00 124.

47.40 115.112.60 115.

72.00 123.72.00 75.75.20 89.75.20 78.89.50 103.

103.80 123.129.00 136.

43.00 88.43.00 45.45.80 63.63.20 65.65.30 69.69.90 88.84.20 99.84.20 93.54.50 95.54.50 75.57.40 63.58.50 60.71.00 80.74.50 75.75.80 95.81.50 176.81.50 113.82.50 92.

113.00 176.45.90 110.45.90 80.45.90 52.52.80 56.56.40 80.80.00 110.

8.60 24.92.90 133.92.90 121.

121.10 133.96.50 177.96.50 137.

137.70 170.170.00 177.105.20 229.105.20 132.

ary of Major I

Interval Length

(m) .50 71.50.00 36.00.50 34.50.50 86.40.00 57.90.50 28.50.40 117.40.60 68.20.60 3.00.50 51.50.20 3.20.50 14.30.00 2.80.80 14.30.50 19.70.90 7.90.60 45.60.80 2.80.20 17.40.30 2.10.90 4.60.60 18.70.00 14.80.50 9.30.00 40.50.80 21.30.50 6.10.10 1.60.00 9.00.80 1.30.00 19.20.00 94.50.00 31.50.00 9.50.00 63.00.00 64.10.00 34.10.80 6.90.40 3.60.00 23.60.00 30.00.00 15.40.80 40.90.10 28.20.80 12.70.50 81.00.70 41.20.00 32.30.50 7.50.80 124.60.50 27.30

Table 11.2 Intersections,

Ni (%)

1.12 1.84 0.40 1.88 2.02 1.65 4.10 5.90 8.65 3.70 0.61 6.27 8.46 6.31 0.45 0.31 2.89 0.06 4.82 0.06 8.30 0.51 0.25 0.28 1.00 1.68 2.27 7.11 1.49 7.37 0.23 1.38 3.19 6.99 0.47 1.49 2.28 0.41 7.45 2.04 0.59 0.52 1.03 0.57 2.40 1.55 0.45 1.73 6.81 2.39 0.50

Eagle’s Nest D

Cu (%)

Pt (g/t)

0.86 0.1.53 1.0.19 0.1.16 0.1.40 1.0.70 0.2.20 2.3.10 2.

10.90 40.1.50 2.1.25 0.2.47 5.3.02 22.2.42 0.0.17 1.0.13 0.1.82 0.0.01 0.3.87 1.0.28 0.2.01 0.0.31 0.0.12 0.0.14 0.0.58 0.1.02 0.1.56 1.4.82 2.0.86 0.4.43 1.0.10 0.0.62 0.1.35 1.1.54 2.0.25 0.0.78 1.1.22 1.0.15 0.3.43 5.1.19 1.0.28 0.0.13 0.0.67 1.0.50 0.1.55 2.0.77 0.0.23 0.1.28 1.1.54 2.1.09 1.0.22 0.

Drilling

Pd (g/t)

.70 2.14

.14 3.49

.24 0.74

.99 3.16

.00 3.27

.96 2.97

.09 7.13

.87 9.78

.79 14.57

.28 7.51

.68 2.58

.92 16.21

.15 22.42

.40 8.71

.29 1.15

.13 0.57

.60 7.16

.04 0.09

.06 14.78

.30 0.14

.14 11.53

.34 0.84

.16 0.64

.18 0.70

.55 2.20

.64 3.78

.03 4.88

.53 14.65

.85 3.88

.08 18.10

.44 0.96

.74 2.63

.53 5.78

.61 10.07

.35 1.06

.02 2.75

.60 4.13

.23 0.94

.00 9.10

.48 4.30

.37 1.18

.25 0.79

.04 2.50

.47 1.50

.63 5.10

.91 2.97

.36 1.10

.31 3.68

.17 6.62

.12 3.86

.33 1.06

Au (g/t)

0.09 0.13 0.06 0.13 0.14 0.09 0.42 0.61 9.39 0.82 0.07 0.24 0.17 2.63 0.06 0.38 0.15 0.01 0.27 0.07 0.23 0.06 0.09 0.11 0.07 0.08 0.11 0.19 0.07 0.22 0.05 0.12 0.15 0.15 0.11 0.12 0.14 0.06 0.12 0.17 0.10 0.02 0.15 0.17 0.12 0.13 0.07 0.21 0.15 0.28 0.06

Ag (g/t)

2.90 4.80 1.00 4.10 5.30 1.70 6.30 8.50 8.70 5.20 4.10 8.30

10.10 8.00 1.11 1.30 5.00 0.00

11.30 0.00 5.10 0.50 0.00 0.00 2.31 3.93 4.30

14.00 2.70

13.00 0.52 1.90 4.40 5.21 0.60 NA NA NA NA NA NA

1.90 2.00 1.50 4.50 3.10 0.87 5.24 6.12 3.89 1.05

NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0

Number F

07-018 07-018 07-018 07-018 07-018 07-019 07-019 07-019 07-020 07-020 07-020 07-021 07-021 07-021 07-022 07-022 07-022 07-023 07-024 07-024 07-024 07-024 07-025 07-027 07-027 07-027 07-027 07-027 07-028 07-028 07-028 07-028 07-028 07-029 07-029 07-029 07-029 08-030 08-030 08-030 08-032 08-032 08-032 08-032 08-032 08-033 08-033 08-033 08-033 08-033 08-034 08-034 08-034 08-035 08-035

From (m)

To (m)

132.50 211.132.50 191.191.70 215.211.00 229.215.00 229.

93.00 110.93.00 104.

104.20 110.113.90 128.113.90 125.125.10 128.144.00 174.144.00 162.162.00 174.222.40 244.222.40 223.223.50 244.241.10 243.119.00 190.119.00 133.133.00 187.187.80 190.235.50 238.112.80 159.112.80 116.116.80 152.152.40 155.155.50 159.169.00 242.169.00 175.175.00 217.217.00 218.218.50 242.

18.30 84.18.30 35.35.00 70.70.50 84.12.50 97.12.50 23.23.60 99.

182.80 240.182.80 190.190.40 196.196.10 221.221.30 240.

9.50 72.9.50 19.

19.40 46.46.20 61.61.50 72.26.00 64.26.00 36.36.60 64.

9.50 45.9.50 24.

Interval Length

(m) .00 78.50.70 59.20.00 23.30.80 18.80.80 14.80.80 17.80.20 11.20.80 6.60.20 14.30.10 11.20.20 3.10.80 30.80.00 18.00.80 12.80.50 22.10.50 1.10.50 21.00.20 2.10.50 71.50.00 14.00.80 54.80.50 2.70.70 3.20.00 46.20.80 4.00.40 35.60.50 3.10.00 3.50.20 73.20.00 6.00.00 42.00.50 1.50.20 23.70.20 65.90.00 16.70.50 35.50.20 13.70.20 84.70.60 11.10.20 75.60.50 57.70.40 7.60.10 5.70.30 25.20.50 19.20.50 63.00.40 9.90.20 26.80.50 15.30.50 11.00.50 38.50.60 10.60.50 27.90.00 35.50.00 14.50

Ni (%)

1.85 1.84 2.70 7.38 7.59 1.30 0.43 2.32 0.74 0.86 0.32 1.10 0.71 1.65 0.65 7.15 0.31 1.14 1.81 0.39 1.91 7.07 0.85 6.25 0.20 7.91 1.70 0.28 1.31 0.43 1.62 6.73 0.63 1.48 1.65 1.81 0.42 1.10 3.50 0.76 1.89 6.64 0.08 1.58 0.94 0.65 0.54 0.41 1.48 0.17 2.34 6.88 0.63 1.14 2.29

Cu (%)

Pt (g/t)

0.89 1.0.93 1.1.52 2.3.18 1.2.63 0.0.37 0.0.21 0.0.63 1.0.24 0.0.29 0.0.08 0.0.50 0.0.25 0.0.86 1.0.14 0.0.60 0.0.12 0.2.16 0.1.12 1.0.14 0.1.26 1.3.33 0.0.47 0.2.75 1.0.12 0.3.45 1.0.90 2.0.26 0.0.71 0.0.21 0.0.84 0.5.11 0.0.33 0.1.10 1.1.36 2.1.30 0.0.22 0.0.77 0.3.54 0.0.35 0.0.87 1.1.68 0.0.19 0.1.17 1.0.37 0.0.31 0.0.24 0.0.23 0.0.66 0.0.68 0.1.65 2.5.05 2.0.36 2.0.51 0.0.87 0.

Pd (g/t)

.40 3.33

.28 3.15

.02 5.86

.05 10.16

.56 9.44

.56 1.93

.23 0.75

.13 3.93

.50 1.61

.59 1.84

.20 0.79

.71 1.86

.47 1.06

.05 2.98

.16 1.40

.19 16.65

.16 0.60

.93 5.78

.06 3.18

.23 0.72

.31 3.46

.25 10.23

.32 1.53

.85 10.23

.31 0.42

.66 12.79

.26 4.54

.41 0.46

.63 2.62

.30 0.91

.80 3.13

.05 14.00

.45 1.44

.18 2.94

.48 3.87

.82 3.04

.49 1.45

.33 2.12

.48 8.96

.31 1.09

.13 3.70

.10 3.87

.66 0.87

.92 5.37

.64 2.27

.32 1.02

.10 0.31

.22 0.72

.68 2.39

.25 0.50

.21 5.45

.53 14.07

.08 2.18

.67 2.05

.78 3.02

Au (g/t)

0.37 0.45 0.15 0.23 0.25 0.06 0.06 0.06 0.06 0.08 0.01 0.11 0.06 0.19 0.03 0.03 0.03 0.17 0.27 0.03 0.35 0.04 0.06 3.00 0.02 3.87 0.11 0.11 0.34 0,02 0.49 0.41 0.16 0.12 0.08 0.12 0.12 0.60 0.22 0.65 0.16 0.05 0.06 0.28 0.06 0.07 0.03 0.06 0.12 0.07 0.16 0.39 0.07 0.12 0.17

Ag (g/t)

3.67 3.91 4.97 8.92 7.28 1.70 0.92 3.01 1.20 1.40 0.30 2.20 1.10 3.90 0.40 1.40 0.40

12.90 3.60 0.10 4.20 8.90 2.40 7.26 0.00 9.27 2.10 0.20 2.20 0.30 2.80

12.90 0.80 3.30 3.60 4.20 0.50 2.80 9.30 1.90 9.00 0.40 0.30 7.00 1.20 4.50 0.30 1.50 1.90 0.80 4.90

15.10 0.90 4.40 3.70

NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0

Number F

08-035 08-044 08-044 08-044 08-044 08-045 08-045 08-045 08-045 08-045 09-047 09-049 09-049 09-049 09-049 09-049 09-049 09-049 09-049 09-049 09-049 09-049 09-049 09-049 09-049 09-049 09-049 09-049 09-049 09-049-W1 09-053 09-053-W1 09-053-W1 09-053-W3 09-053-W4 09-053-W5 09-053-W6 09-055 09-056 09-056 09-057 09-058 09-059 09-063 09-063 09-064 109-064 109-064-W1 109-064-W1 109-065 09-066 09-067 09-068 09-068 09-068-W1

From (m)

To (m)

24.00 45.294.00 322.294.00 301.301.60 315.315.70 322.445.68 460.445.68 446.446.83 447.447.19 454.454.38 460.362.80 364.269.21 270.270.98 306.306.68 485.306.68 308.308.68 312.312.84 344.344.56 404.404.15 464.464.69 469.469.34 485.510.43 511.796.20 945.796.20 852.852.88 866.866.41 893.893.14 916.916.82 937.937.82 945.791.07 979.854.00 880.873.30 928.917.90 926.841.00 856.783.00 842.933.00 1020.727.90 785.501.50 507.526.40 595.526.70 532.545.20 596.431.90 441.507.30 514.517.60 531.526.89 530.079.33 1132.104.50 1117.099.94 1231.167.70 1176.504.70 541.584.00 633.530.70 631.672.40 721.716.40 721.683.00 818.

Interval Length

(m) .00 21.00.80 28.80.60 7.60.70 14.10.80 7.10.30 14.62.83 1.15.19 0.36.38 7.19.30 5.92.95 2.15.98 1.77.68 35.70.52 178.84.68 2.00.84 4.16.56 31.72.15 59.59.69 60.54.34 4.65.52 16.18.75 1.32.67 149.47.88 56.68.41 13.53.14 26.73.82 23.68.82 21.00.67 7.85.50 188.43.40 26.40.00 54.70.00 8.10.40 15.40.00 59.00.60 87.60.00 57.10.30 5.80.00 68.60.00 5.30.00 50.80.30 9.40.10 6.80.60 14.00.32 3.43.46 53.13.70 13.20.76 131.82.40 8.70.70 37.00.40 49.40.70 101.00.90 49.50.90 5.50.20 135.20

Ni (%)

0.48 4.21 1.16 7.46 1.03 0.77 0.39 3.27 0.42 1.12 6.11 5.16 0.48 1.19 2.53 0.63 1.12 0.57 1.39 5.29 1.70 1.05 2.43 2.11 1.66 1.54 5.18 2.52 0.66 1.67 1.29 2.31 5.04 1.03 1.73 1.83 1.89 1.26 1.99 4.77 1.94 1.30 6.51 2.92 7.28 1.94 4.98 1.27 5.82 1.23 2.03 1.75 2.22 7.49 1.65

Cu (%)

Pt (g/t)

0.26 0.2.14 0.0.98 0.3.65 0.0.38 0.0.27 0.0.18 0.2.28 1.0.09 0.0.38 0.1.56 1.3.04 0.0.13 0.0.53 0.1.97 0.1.22 3.0.66 1.0.26 0.0.58 0.1.29 0.0.55 0.1.15 5.1.09 1.0.63 1.3.12 2.1.28 1.1.04 0.0.97 0.0.68 1.1.30 1.0.39 0.1.91 1.2.83 1.0.24 0.0.81 1.1.84 1.0.85 1.0.42 0.0.94 1.1.95 0.1.05 1.0.52 1.5.51 2.1.14 1.1.71 0.0.95 0.1.92 0.0.56 0.1.62 0.0.39 0.1.50 0.1.07 0.0.74 1.0.95 0.0.80 1.

Pd (g/t)

.61 1.39

.35 6.30

.73 2.73

.10 10.33

.43 2.12

.43 1.30

.48 0.88

.00 7.18

.29 0.68

.56 1.77

.71 5.98

.69 6.45

.33 1.03

.87 2.01

.39 4.68

.89 1.70

.26 2.12

.73 1.23

.66 2.20

.59 5.29

.77 2.72

.04 3.14

.04 5.10

.17 4.36

.13 5.40

.18 4.69

.19 7.92

.42 5.34

.91 2.16

.13 4.24

.72 2.91

.43 5.77

.14 8.60

.52 2.95

.08 4.08

.44 4.20

.06 4.54

.51 1.91

.05 3.57

.84 6.75

.38 3.38

.07 1.90

.44 11.84

.05 5.21

.06 6.43

.60 3.85

.07 6.71

.85 2.89

.05 6.62

.68 1.80

.76 2.99

.86 2.71

.26 3.68

.23 10.28

.03 3.24

Au (g/t)

0.09 0.14 0.10 0.20 0.08 0.06 0.03 0.21 0.03 0.09 0.10 0.07 0.02 0.10 0.11 0.05 0.07 0.15 0.08 0.16 0.07 0.10 0.58 0.10 0.58 2.53 0.10 0.08 0.16 0.22 0.07 0.24 0.05 0.11 0.12 0.11 0.15 0.06

Ag (g/t)

1.00 4.31 2.65 6.80 1.15 0.52 0.23 3.04 0.07 0.98 3.76 8.10 0.25 1.32 4.94 2.31 1.79 0.55 1.53 2.77 1.34 4.05 4.32 2.92 8.99 5.18 5.18 3.66 1.55

1.76 6.37 8.26

1.43 2.90 4.34 3.13 1.30

NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-0NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1NOT-1

Number F

09-069A 109-070-W1 09-070-W1 09-070-W1 09-070-W1 09-070-W2 09-071 09-071 09-072 09-073 09-074 09-074 09-075 10-076 10-076 10-076-W1 10-076-W1 10-077 10-077 10-078 10-079-W1 110-079-W1 110-079-W1 110-081 10-081 10-081 10-081 10-081 10-081 10-083 10-083 10-083 10-083 10-084 10-084 10-085-W1 110-085-W1 110-085-W2 110-087A 10-087A 10-088 10-089 10-089 10-090 10-091A 10-091A 10-091A 10-092 10-092 10-096 10-096

From (m)

To (m)

094.12 1154.607.60 630.607.60 613.612.80 621.622.40 630.510.90 515.720.89 851.727.50 728.666.00 678.693.40 753.552.60 635.628.20 634.602.10 612.460.50 558.460.50 464.531.00 574.561.40 574.301.10 302.313.40 313.329.40 330.029.20 1117.043.00 1097.051.45 1051.412.00 569.412.00 431.412.00 412.447.90 452.449.00 450.452.20 457.564.92 652.599.04 606.601.26 601.668.68 668.660.43 749.674.55 679.099.20 1203.165.10 1167.147.50 1350.534.86 624.604.00 617.770.45 776.518.54 594.578.11 583.771.52 810.603.42 659.619.25 624.650.80 653.751.60 780.753.34 759.748.50 800.783.00 785.

Interval Length

(m) .00 59.88.40 22.80.30 5.70.20 8.40.40 8.00.80 4.90.18 130.29.80 1.30.76 12.76.20 59.80.20 82.60.92 6.72.60 10.50.00 97.50.10 3.60.50 43.50.50 13.10.50 1.40.70 0.30.10 0.70.50 88.30.07 54.07.63 0.18.00 157.00.00 19.00.50 0.50.20 4.30.10 1.10.70 5.50.28 87.36.55 7.51.92 0.66.87 0.19.60 89.17.70 5.15.90 104.70.50 2.40.80 203.30.20 89.34.82 13.82.45 6.00.77 76.23.45 5.34.00 38.48.89 56.47.35 5.10.33 2.53.50 28.90.75 6.41.66 52.16.90 2.90

Ni (%)

1.40 4.41 5.78 1.19 7.41 1.23 1.75 3.55 0.41 1.70 2.05 7.41 6.51 1.93 5.09 3.24 7.01 0.73 0.59 0.54 1.35 1.71 2.30 2.64 6.64 3.94 0.17 0.06 7.84 1.93 4.83 1.32 3.45 1.75 5.21 1.66 7.45 1.69 2.49 6.97 0.82 2.34 7.61 1.66 2.28 7.20 5.18 0.60 1.04 1.89 2.11

Cu (%)

Pt (g/t)

0.84 1.2.38 28.4.42 37.1.46 68.2.19 0.0.30 0.0.88 1.1.63 25.0.14 0.0.90 1.1.00 0.1.26 0.1.68 2.1.00 0.1.48 0.1.19 0.2.19 0.0.38 2.0.74 7.1.70 0.0.61 0.0.75 0.0.50 2.1.57 1.2.73 0.1.85 9.0.36 10.0.10 30.2.04 0.0.82 1.1.85 11.2.79 31.0.37 8.0.87 0.2.54 0.0.81 0.0.23 0.1.01 1.0.99 0.1.03 0.0.87 0.1.07 0.0.84 0.0.59 0.1.16 1.1.44 0.2.46 5.0.37 0.0.96 1.1.26 1.1.01 0.

Pd (g/t)

.03 3.33

.07 7.95

.87 8.26

.78 7.55

.18 9.33

.35 1.60

.27 3.55

.44 13.58

.18 0.67

.45 3.73

.64 2.94

.93 6.64

.00 8.18

.75 2.97

.50 6.63

.45 4.18

.26 8.45

.27 2.18

.79 12.70

.64 2.21

.88 3.12

.99 3.75

.44 5.82

.72 4.15

.75 7.28

.64 9.22

.52 2.26

.30 0.16

.19 7.86

.80 3.17

.14 6.69

.60 8.04

.50 40.80

.80 3.29

.81 11.10

.96 3.78

.11 7.21

.30 4.12

.85 3.97

.70 7.72

.32 1.70

.92 3.26

.07 6.57

.85 4.03

.27 5.08

.48 15.00

.21 20.48

.67 2.08

.56 5.10

.73 4.44

.29 3.59

Au (g/t)

0.22 0.07 0.10 0.14 0.07 0.09 0.07 0.21 0.24 35.90 0.32 1.14 35.80 0.17 0.02 0.07 0.12 0.13 0.15 0.69 0.20 0.55 0.20 0.09 0.07 0.21 0.06 0.14 0.20 0.04 1.23 0.12 0.23 0.30 1.92

Ag (g/t)

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SURVEY

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Otheran em The fLake analyEagle Threefor th2007 Actla(analyprepa 13.1 Fromin Thsubmcrushsampclean Fromrema The bthat wemissspect Sampassay 13.2 In adsubm The sthe cr

r than the pamployee, offi

following dehas been ex

ysis and secue’s Nest.

e reputable ahe deposits.

to 2008, Sabs facilitiesysis) from Aaration and a

ALS CHE

m 2007 to Aphunder Bay a

mitted to ALSher was cleaple of one kilned with silic

m each pulp,inder of the

base metals was digestesion spectrotroscopy (IC

ples assayed yed for Au, P

SGS MIN

ddition to samitted to SGS

sawed drill hrusher was c

SAMPLE

ackaging of ficer, director

escription oxtracted fromurity protoc

analytical coThese inclu

SGS-Mineras in ThundeApril, 2008 analyses used

pril, 2008 haand then forS Thunder Baned with blogram was ca sand betw

, a 100-g supulp and the

of economicd from a 4-oscopy (ICP-AAS).

for Ag werePd and Pt we

NERAL SER

amples submS-MS as a re

half-core samcleaned with

E PREPARA

the samplesr or associat

f the samplm Golder, 20ols have be

ompanies haude ALS Chal Services er Bay, Onta

to current.d at each fac

alf the core srwarded for Bay were crubarren rock

split and puween samples

ub-sample we rejects wer

c interest (N-acid solutio

CP-AES) or

e digested uere subject to

RVICES AN

mitted to ALesult of a bac

mples were h barren roc

ATION, AN

s, no aspect te of Noront.

ing preparat010 with mineen continue

ave been ememex in Van(SGS-MS)

ario (prepara Outlined in

cility.

sampled waanalysis in Aushed in thebetween sam

ulverized to 8s.

was split anre held at the

i and Cu), won followedr inductivel

sing aqua reo a 30-gram

NALYTICA

LS from 200ck log of sam

crushed in ck between s

NALYSES A

of sample p.

tion, analysenor edits. T

ed through t

mployed sincncouver, Briin Toronto,ation laboran the follow

as sent to theAncaster. Sir entirety tomples. Fro85% passing

nd shipped e ALS Thund

were determid by inductily coupled

egia (3-acid)fire assay, f

AL PROCE

07 to April mples at ALS

their entiretsamples. Fr

AND SECUR

preparation w

es and secuThe same samthe 2010 dri

ce exploratioitish Columb, Ontario, datory) and Awing section

e ALS prepaSawed drill ho 90% passinom the coarsg 75 µm. Th

to the ALSder Bay faci

ined using a vely couple

plasma-ato

) followed byfollowed by

EDURES

2008, half S.

ty to 90% parom the coar

was conducte

urity at McFmple preparailling progra

on began in bia (ALS) dduring 2008Ancaster, Onns are the sa

aration laborhalf-core samng 2 mm anse rejects a he pulveriser

S Ancaster. ility.

0.2-gram aled plasma-atomic absor

y AAS. SamICP-AES fin

of the core

assing 2 mmrse rejects a

Faulds ation, am at

2007 during 8 and ntario ample

ratory mples nd the

sub-r was

liquot tomic rption

mples nish.

m and a sub-

sampwith Fromreject The bwas finishperoxspectmore Samp SampICP-A 13.3 AfterBay aprep were sampconta(LIMresultfinal final The sampTermTM E Sampadequfashiowere requifinal Analybetter

ple of 1-kg wsilica sand b

m each pulp, ts are held at

base metals osubjected a h. Followingxide fusion dtroscopy (IC accurate wi

ples assayed

ples assayedAES.

ACTLAB

r April, 2008and then tranlaboratory wreceived an

ples bags to ainers. The s

MS). Upon cts were entequality contcertification

sorted sampples were theminator jaw cEngineering

ples analyseuate fusion on and was ddesignated

ired finenessanalytical m

ytical methor detect spec

was split andbetween sam

a 100-g subt the prepara

of economic4-acid solu

g discussiondecompositio

CO-OES), as ith this meth

for Ag were

d for Au, Pd

8, all samplensported to Awere sorted nd there were

ensure that samples werompletion ored into the trol check byn of the data.

ples were den crushed incrusher. ThTM MAX2

ed for chromfor the analdesignated aas pulp dup

s was achievmethods.

ods for assaycific elemen

d pulverized mples.

b-sample waation laborat

c interest (Niution to digens with SGS,on and analyit was belie

e digested us

d and Pt wer

es were submAncaster for and verifiede no discrepaany damp f

re entered inof sample ana

LIMS systey an indepen Data were t

dried at 60oCn their entirehe sample w

ring and puc

mite were plysis. A sepas a preparatiplicates. Sa

ved as this w

ying elementnts (i.e. chro

to 85% pass

as split for asory in Toron

i and Cu), west the samp, the methodyzed by indueved by SGS

sing aqua reg

re determine

mitted to Acanalysis. T

d against theancies. The fines were nnto the Laboalysis and be

em and approndent personthen reported

C in a largeety to better t

was then rifflck pulverise

pulverized sparate split ion duplicateamples were

was critical to

ts varied duomite). Mos

sing 75 µm.

ssay. The rento for future

were determinple, followed for Ni and uctively coupS that the res

gia (3-acid)

ed using a 3

ctlabs prepaThe drill halfe customer lisorted samp

not discardedoratory Inforeing accepteoved. Repor

n was performd to Noront.

e volume dthan 85% -1le split and er to 95% -15

till finer toof the rejece (prep duple routinely mo maintainin

uring the expst samples w

The pulver

emainder ofe reference.

ned using a d by ICP-ACu was chanpled plasmasults for Ni

followed by

30-g fire as

aration laborf-core samplist to ensure

ples were drid on transfermation Maned by the Acrts were thenmed. This pe

drying room10 mesh in a an aliquot i50 mesh.

o 95% -200 ct was prepalicate). Duplmonitored to

ng the requir

ploration prowere initially

rizer was cle

f the pulp an

0.2-g aliquoAES or ICP-

nged to a soa optical emiand Cu wou

y AAS.

say, followe

ratory in Thues received ae that all samied in the orierring into dnagement Syctlabs analysn generated erson also di

m. When drya TM Engines pulverized

mesh to enared in the licates from po ensure thaed quality fo

ogram in ordy assayed w

nd the

ot that -AAS odium ission uld be

under at the mples iginal

drying ystem st, the and a id the

y, the eering d in a

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re discoverethe Eagle Tsits. The Tr

d the ROF In

E and Blackivity in the lackbird ande discovery

the ROF Intgmatic sulphy stages of ex

ENB ComplWG (formerThor and Bst).

ACENT PR

vicinity of Mhe ROF areane to the Mcpiskat, approhe immediat

ed when driTwo Ni-Cu driple J gold

ntrusion in th

kbird chromitarea. Disc

d the McFauof several otrusion. Somhide depositxploration.

lex include rly FreewesBlack Labe

ROPERTIES

McFaulds Laa being stakcFaulds Lakoximately 15te area of th

illing the Adeposit and zone was la

he same area

te deposits ocovery of twulds Lake aoccurrences me of these t and the A

the Big Dadst/Spider/KWel chromite

ake area hased by severa

ke area is the50 km to thhe McFauld

AT2 geophysinitial drilli

ater discovera.

owned by Nwo VMS dearea, and ha

of VMS, mdiscoveries

AT12 Ni-Cu-

ddy chromitWG) JV to

deposits by

s increased al companiee Victor diamhe east. Theds Lake or i

sical target. ing did not tred at the co

Noront, are ceeposits prom

as included cmany hosted

include Nor-PGE occurr

te deposit bthe northeay Cliffs Na

since s and mond ere is n the

This target ontact

entral mpted claim

d in a ront’s rence

by the ast of atural

SGS-testinworkprogrMcfa 16.1 The indexflotatflotatmagn A repDepo11, 2renam 16.1. The tby Nminer The t The c

16.0 MI

-MS undertong facility usk commencedram of workaulds Lake P

SGS-MS

scope of thx) on a head tion feed oftion producnetic separati

port was issuosit, prepared010 (SGS M

med Eagle’s

1 Comp

two split driNoront and ralization an

total sample

chemical ana

INERAL PR

ook preliminsing two comd in the seck was designroperty Eagl

PRELIMIN

he preliminasample of th

f the two cot (concentraion tests.

ued entitled d for Noron

Mar 2010). ANest. This m

posite Samp

ll core complabelled “C

nd “Comp 2”

weights wer

alyses of the

Element/CCu Ni Fe Ni Sulphide S2-

Pd Pt Au Ag Co Cr Mg

ROCESSIN

nary metallurmposite sampond half of ned to supple’s Nest Pro

NARY TES

ary testing phe two compomposites, aates and ta

“An Investint Resources As noted in Smetallurgica

posites used Comp 1”, w”, which was

re 56 kg for

two compo

Metallurgical

Compound

G AND ME

rgical testingples submitt2010 and w

ort the on-goject.

STWORK P

program composites, coma series of

ailings) char

igation into Ltd, Projec

Section 6.0, al test progra

for the prelwhich was s designated

Comp1 and

sites are incl

Table 16.1 l Composite H

Units % %%%%g/t g/tg/tg/tg/tg/tg/t

ETALLURG

g during 200ted by Noronwill be compgoing techni

PROGRAM

mprised grinmprehensive m

developmenracterization

Metallurgicct 12055-002the Eagle O

am was man

liminary testmade up o

d disseminate

49 kg for C

luded in Tab

Head Analyses

Comp 1 3.07 7.89 50.9 5.59 35.4 10.1 0.83 0.16 8.00

2,000 150

GICAL TES

09 and 2010nt. An additpleted in 20cal feasibili

M 2009/2010

nding testwmineralogicantal flotationn testwork

cal Testing o2 Final Repo

One deposit wnaged by Nor

twork prograof typical med mineraliz

omp 2.

ble 16.1.

Comp 2 1.01 2.11 19.6 1.60 10.1 3.40 0.21 0.99 3.00 560

2,700 160,000

STWORK

0 at the Laketional progra11. This sety studies o

work (Bond al analysis on testworkand prelim

on the Eagleort” dated Mwas subsequront.

am were selmassive sulpation.

efield am of econd on the

work on the tests,

minary

e One March uently

lected phide

Sub-sboth microsulphchalcdetermmineramou Opticmajorlibera 16.1. The Brespe2, wh Batchadditdepresepar For Cgradi20.5%7% C96% The prelimCompfor C A DagroungradiThe m 16.2 A detof 20

samples, repComp 1 and

oscopy and Xhide system copyrite andmined that rals present

unts of pyrite

cal examinatrity of the cation) at a m

2 Testw

Bond ball mectively. Thehen compare

h flotation teion points essants wererate copper a

Comp 1, sepaing 34.0% C% Ni at 61%Cu and 15%and 90% for

Cu/Ni sepaminary openp 2 grading

Cu and 76% f

avis tube mnd to a K80ing 9.5% Cumagnetic fra

SGS-MS

tailed progra010. This

presentative d Comp 2 wXRD examin

containing d the Ni-bethe composin Comp 2 w

e, bornite an

tion found anchalcopyrite

mineral grain

work Results

mill work inde material is

ed to all ores

ests evaluatefor both C

e investigateand nickel co

aration of coCu and 0.63% Ni recover% Ni were pr

r Cu and Ni,

aration testsn circuit batc

5.38% Cu afor Ni, respe

magnetic sep0 passing 10u, 22.2% Niaction contain

FEASIBIL

am of metalls testwork

of a flotatiowere submittnation. Min

98% totalearing minesite containewere chalcop

nd covellite w

n increase ine, pentlanditsize of betw

dices for Cos considered

tested in the

d the effect Comp 1 anded on Componcentrate pr

opper and ni% Ni at 74

ry was produroduced dur, respectively

s using Comch test resultand 10.8% Nectively.

aration test 00 μm. Thei with recovned 74% of

LITY STUD

lurgical testwprogram co

on feed at ated for mineeralogical ex sulphides. eral was peed 27% sulppyrite and pwere detected

n locked chalte and pyrrh

ween 40-80 μ

mp 1 and Csoft for Com

e SGS datab

of primary gd Comp 2 p 2. Most roduction.

ckel was eff% Cu recovuced. Rougring the scopy.

mp2 were is, SGS estimNi could be

was condue non-magneveries of 89%the mass and

Y TESTWO

work at SGSomprised sa

a grind size eralogy usinxamination o

The majoentlandite. phides. Thentlandite, rd.

lcopyrite andhotite appearμm for both c

Comp 2 weremp 1 and mebase.

grind size, coon rougherof the flot

fective in provery. A finagher bulk coping testwor

incomplete. mated that a

produced w

ucted on a setic fraction % for Cu and graded 0.4

ORK PROG

S-MS was iniample prepa

of 80% pasng the combiof Comp 1 sor Cu-beari Examinatie major Cu

respectively.

d pentlanditered to be licomposites.

e 8.6 kWh/t edium-hard t

ollector dosar kinetics. Itation work

oducing a coal nickel conncentrates crk with reco

Using thbulk Cu/Ni

with metal re

sample of Ccontained 2

nd 80% for 41% Cu and

GRAM 2010

itiated durinaration and

ssing 100 μmination of opshowed a maing mineralion of Com

u and Ni be In addition

e in Comp 2iberated (50

and 18.4 kWto hard for C

age, and collIn addition,was direct

opper concenncentrate gracontaining aroveries of ar

he non-optimconcentrate

ecoveries of

Comp 1 that26% of the Ni, respecti1.96% Ni.

0/2011

ng the secondcharacteriza

m, of ptical assive was

mp 2 earing

2. The -90%

Wh/t, Comp

lector , talc ed at

ntrate ading round round

mized from

t was mass

ively.

d half ation,

grindsepar This with Lake metalsectioof ind 16.2. The availarepreresou“pincprograbove

dability testinration tests, a

metallurgicaof SNC-Lav

Project, Rllurgical daton of the tecdicated resou

1 Metal

metallurgicaable represensent the ma

urces outlinech” point locram was unde and below

. Upper Ma

. Lower Ma

. Upper Ne

. Lower Ne

drill holes se

Deposit Zone

ng, mineraloand product

al testwork valin Inc. (SLRichard Gow

a and reportchnical reporurce tonnes w

llurgical Sa

al compositntative freshassive and nd at that timcated approxdertaken, abo

this pinch p

assive Compassive Comp

et Textured Cet Textured C

elected for m

ogical investcharacteriza

program waLI). As partwans, Presidts prepared brt. At the tiwere located

te samples h diamond drnet/textured

me. Two comximately 25out 50% of t

point. The fo

p. (UMC) p. (LMC) Comp. (UNTComp. (LNT

metallurgical

Metallurgical C

Drill Hole

OT-10-076

T-10-076-W1

OT-10-081

OT-10-083

OT-10-084

T-10-087A

T-10-091A

T-10-GT02

T-10-GT01

T-10-GT04

T-10-GT05

tigations, floation.

as managedt of Micon’sdent and Prby SGS-MSime the samd above and

were selecrill core. A mineralizat

mposites wer0 metres bethe measureour composi

TC) TC)

sampling ar

Table 16.2 Composite Sam

Hole Dri

otation deve

d by Ivan Els managemenrincipal Meand SLI. M

mpling prograbelow 250 m

ted by Nortotal of four

tion within re selected frelow surfaced/indicated rte samples w

re summariz

mple Drill Hol

Drilli

Spring 2010

Golder Ge

illed Specifical

elopment tes

ljarbo, a Sennt role of Noetallurgist hMr Gowans iam was prepm depth.

ront, SLI ar compositesthe measure

rom above ae. At the tiresource ton

were identifi

ed in Table

ing Program

0 Resource Dri

eotechnical Ho

lly for Metallur

sting, solid-l

nior Metalluoront’s McF

has reviewedis the QP fopared, about

and Micon s were selected and indind two below

ime the samnnes were loied as follow

illing

rgical Samplin

liquid

urgist Faulds d the

or this t 50%

from ted to icated w the

mpling ocated ws:

Samp The summanaly

UpperUpperLowerLower

A proMS. (QuanAnalyprogrand Ccharaused determminerDraftMineEagle The m Assay Recosuggealthou Moda UMCPentlamouminernon-schlor

ple Characte

average spemarized in Tyses based on

r Massive r Net-Textured r Massive r Net-Textured

ogram of mi This work ntitative Evaysis (XRD) ram was to Cu deportmeacteristics of

to determinmine the Niral chemistrt Report dateralogy into e’s Nest Dep

mineralogica

y reconciliat

nciliation beests includinugh it is note

al Mineralog

C and LMClandite and unt of chalcrals in the Usuphides comrite (2.1%).

erization

ecific gravitTable 16.3. n core sampl

S.G. Cu %

4.54 3.69 3.06 0.98 4.19 2.03 3.09 0.89

ineralogical comprised

aluation of Mand electroestablish theent amongst f the main tne the cryst in solid solries for Ni ated January the Minera

posit” (SGS

al tests sugge

etween QEMng the multed that that t

C comprise pyrrhotite o

copyrite in tUMC samplemprised ma

ties and ana The coppeles used to g

Metallurgical C

Ni S% %

7.42 32.71.86 9.376.59 29.91.78 9.20

testing on ehigh defini

Materials byn microprobe bulk modathe compos

target minertal structureution withinaccounting p

14, 2011 aalogical ChaJan 2011).

ested the fol

MSCAN and ti-element cthey are incl

mainly suoccurrences the LMC is e are mainly ainly serpen

alyses of imer and nickegenerate each

Table 16.3 Composite Sa

Co P% g/

70 0.19 1.47 0.05 2.395 0.18 3.80 0.05 0.8

each of the ftion minera

y Scanning Ebe analysis (al distributiosites and to irals (chalcope of the pyrn silicates anpurposes. Tand entitledaracteristics

lowing:

chemical aschemical anluded in the

lphides, 88are similaralmost halmagnetite (tine (4.5%)

mportant eleel levels weh composite

ample Analyse

Pt Pd /t g/t 44 11.90 31 3.94 83 9.57 83 3.20

four composalogy, includElectron Mi(EMPA). Ton of the miinvestigate tpyrite and prrhotite and

nd oxides, anThis work w

d “An Invesof Four Co

ssays is veryalyses in thappendices.

.4% for Ur for the twlf that of th(7.2%) and s, amphibole

ements for ere consistensample.

Rh Ru g/t g/t

0.23 0.08 0.08 0.05 0.64 0.28 0.10 0.05

sites was comding QEMSCicroscopy), XThe main puinerals and the liberationpentlandite). d EMPA wond to investiwas describestigation by omposite Sa

y good for alhe main bod

MC and 8wo massive he UMC. Tserpentine (2es (4.4%), f

each samplnt with exp

Ir Au g/t g/t

0.05 0.21 0.02 0.22 0.17 0.18 0.03 0.29

mpleted by CAN technoX-ray Diffraurpose of thedetermine thn and associ XRD was

ork was useigate the sulped in a SGSHigh Defin

amples from

ll samples. Mdy of the r

0.4% for Lsamples bu

The non-sulp2.2%). The feldspars (3

e are pected

Ag g/t

9.50 2.00 5.50 3.00

SGS- ology action e test he Ni iation s also ed to phide S-MS nition m the

Micon report

LMC. ut the phide LMC .3%),

UNT(penttextur(8.5%amphis pre The mpyrrhthe re Ni De Over very the re Liber The 8µm f85.6%for Upyrrhassoc The P40 µmUMCLNTCassocsamp Mine Elect

C and LNTtlandite, chared samples

%), amphibohiboles (9.6%esent in the n

model analyhotite rejectioejection of n

eportment

95% of theminor amou

ecovery of n

ration and A

80% passingfor UNTC a% of total inUNTC and hotite in the ciation in the

P80 of chalcom for LNTC

C and LMC,C, respectivciated with pples.

eral Compos

tron micropr

Pyrrhotiteand 36% N

Chalcopy

Pentlandit

Mg is ma

C samples clcopyrite an

s. Non-sulpholes (6.7%). %), olivine (net textured

ysis suggeston while theon-sulphide

e Nickel occunts in non-ickel will no

Associations

g size (P80) oand 43 µm n UMC and LNTC, respmassive sam

e net textured

opyrite grainC. Free lib, respectivelvely. As wpyrrhotite in

sition

robe analysis

e contains apNi.

yrite contains

te contains a

inly containe

comprise 25nd pyrrhotitehides in the The main n

(7.3%) and csamples (2.2

s that the pe processing

gangue.

curs in pentlsulphides (aot be hindere

of pentlanditfor LNTC. LMC, respepectively. mples but gd composite

ns is 132 µmberated chalcly. Chalcopywith pentlan

n the massiv

s showed the

pproximately

s about 34.3%

approximate

ed in serpen

5.9% and 24e) occur in t

UNTC inclnon-sulphidchlorite (7.2%2% -2.6%).

processing oof net textu

landite with about 1% in ed by the pre

te grains is Free libera

ectively. PeNon liberatenerally mos.

m for UMC, copyrite accyrite liberatindite, the ne samples a

e following:

y 0.3% to 0.7

ly 1% Co.

ntine (22-24%

4.5% sulphidthe same prolude mainly

des in the LN%). It is als

of the massivured minerali

the remaindnet textured

esence of com

112 µm for ated pentlad

entlandite libted pentland

ore complex

171 µm for counts for 8ion is 75.0%non-liberate

and complex

7% Ni. Pent

%), chlorite (

de minerals.oportions wserpentine

NTC are serso noted tha

ve samples ization shou

der in pyrrhd samples). mplex Ni mi

UMC, 143 dite accountberation is 5dite is tied particles of

LMC, 41 µm84.8% and 7% and 63.3%d chalcopyr

x particles in

tlandite cont

(16-19%) an

These minwithin the tw

(42.6%), chrpentine (35at minor chro

should foculd concentra

hotite (3-4% This showsineralization

µm for LMCts for 89.5%50.8% and 6

up with mf ternary or

m for UNTC75.8% of tot% for UNTCrite is gene

n the net tex

tains betwee

nd talc(19%)

nerals wo net hlorite .0%), omite

us on ate on

) and s that n.

C, 38 % and 61.3% mainly

C and tal in

C and erally

xtured

XRDexpec 16.2. 16.2. BondFor mmass2009/

Ab1 Sing

UncoDepatestedbut o250 Mcomp 16.2. A nutheseand minerdensiregrin The t

D work suggcted due to i

2 Metal

2.1 Grind

d grinding wmassive mineive and low/2010 test pr

arameter

od Mill Work I

all Mill Work I

brasion Index gle composite sam

onfined Comartment of Md. UCS valu

one of the saMPa). The pared to an a

2.2 Flotat

umber of ope compositesto develop ralization. ity, rougher nding, gangu

two flowshee

Flowsheeflotation.

gested that ts strong ma

llurgical Te

work index (meralization, oer massive srogram are in

Index (100 mes

Index (150 mes

mple used represent

mpressive SMining. Four

es ranged froamples had U

massive minaverage of 11

en circuit tess. These ope

the optimuThe param

feed aerationue depressan

et concepts c

t A - Blends

the pyrrhotagnetic susce

estwork Res

metric) and aone rod millsample. Thencluded in f

Grinding an

sh) – 2009/201

sh) – 2010/201

ting both upper an

Strength (UCrteen sampleom 49 MPa

UCS classifineralization 19 MPa for n

sts were unden circuit teum flowshe

meters examn, site waternts (carboxyl

considered d

s the massive

tite has a meptibility.

abrasion indl work indexe Work Indefor comparis

Table 16.4 nd Abrasion T

UppeMassi

0 8.6 1

0.02nd lower zones.

CS) tests wes of core froto 208 MPaed as strongsamples ha

net-textured

dertaken on ests were deseet for proc

mined includr, pH modifiel methyl cell

during the de

e and net tex

monoclinic c

dex results arx test was coex results froon.

Test Results

er ive

LoweMassiv

2 0.069

were conducom within tha and had a mg (50 to 100 ad lower UC

mineralizati

the individusigned to invcessing the

ded flotationer (lime vs slulose – CM

evelopment t

xtured feed ty

crystal struc

re summarizonducted on om the SGS

Upper N

18.4 1

9 0.029

cted by Quhe mineralizemedian valueMPa) or ve

CS values, avion samples.

ual compositvestigate sp

massive an feed slurrsoda ash), pr

MC) and flota

test program

types before

cture which

zed in Table a blend of u

S-MS prelim

NT Lower N

9 0.042

ueens Univeed envelope e of 90 MPa

ery strong (1veraging 67 .

tes and blenecific param

and net texry rheologyrimary grindation kinetics

m were:

rougher

16.4. upper

minary

ersity were

a. All 00 to MPa

nds of meters xtured y and d size, s.

In allnickeCu pl

Folloundertest re

All othree Figurgrade

Flowsheecombine mflotation.

l cases the obel, copper anlus Ni.

owing a revrtaken usingesults is pres

f the four lotests.

re 16.2 prese) plotted ag

t B – Grind massive feed

bjective wasnd platinum g

iew of the g a version ofsented in Ta

cked cycle t

ents the comainst the Cu

and aerate md material w

s to produce group metals

open circuif Flowsheet

able 16.5.

Locked

tests used sit

mbined %Niand Ni reco

massive and with NT roug

a single flots (PGMs). T

it test resultB (see Figur

Figure 16.1 Cycle Test Fl

te water and

i plus %Cu overy for the

net texturedgher concentr

tation concenThe target co

ts, four lockure 16.1). A

lowsheet

LCT4 used

upgrading re four LCTs.

d material seprate prior to

ntrate produconcentrate gr

ked cycle tesummary of

a finer regri

ratio (conce

parately androugher clea

ct containingrade was 15%

ests (LCT) f the locked

ind than the

entrate grade

d aner

were cycle

e/feed

LCT10:90Pri BSec BComSec CScavCombHead

LCT25:75Pri BSec BComSec CScavCombHead

T 1 - Lower Zo0 M/NT Blend

Bulk Conc Bulk Conc

mbined Conc Cleaner Scav Tenger Tails bined Tails d (calc)

T-2 - Upper Zo0 M/NT Blend

Bulk Conc Bulk Conc

one Wd

2Tails 1

one Wd

Tails 257

one Wd

2Tails 2

one Wd

2Tails 2

Flotation L

Weight % Cu

11.5 6.09.2 1.8

20.7 4.218.9 0.1260.4 0.1479.3 0.1400.0 0.9

Weight % Cu

10.6 10.12.2 1.722.8 5.720.1 0.1157.1 0.0777.2 0.0800.0 1.3

Weight % Cu

13.9 10.8.5 1.9

22.4 7.425.2 0.0952.4 0.0877.6 0.0800.0 1.7

Weight % Cu

15.2 9.98.1 1.9

23.4 7.125.4 0.1251.3 0.0976.6 0.1000.0 1.7

Table 16.5 ocked Cycle T

Assay (%u Ni 08 10.186 7.3921 8.8724 0.5747 0.3641 0.41

98 2.17Assay (%

u Ni .3 10.1

74 9.5 70 9.8 10 0.7378 0.3586 0.45

36 2.57Assay (%

u Ni .9 14.8

90 10.447 13.196 1.0482 0.3987 0.60

74 3.41Assay (%

u Ni 90 14.092 9.0312 12.320 1.0490 0.4000 0.61

74 3.34

Test Results

19.6 19.4 19.5 10.7 6.96 7.85 10.3

24.0 18.9 21.3 14.9 7.43 9.39 12.1

28.8 22.5 26.4 21.9 7.89

12.42 15.5

28.6 19.4 25.4 21.2 7.77

12.21 15.3

DistCu 71.2 17.4 88.6 2.4 9.0

11.4 100.0

DistCu 79.6 15.5 95.1 1.6 3.3 4.9

100.0 Dist

Cu 86.9 9.3

96.1 1.4 2.5 3.9

100.0 Dist

Cu 86.6 9.0

95.6 1.7 2.7 4.4

ribution (%)Ni

53.6 31.3 84.9 5.0

10.1 15.1

100.0 1ribution (%)

Ni 41.6 45.1 86.6 5.7 7.7

13.4 100.0 1

ribution (%)Ni

60.2 26.1 86.4 7.7 6.0

13.6 100.0 1

ribution (%)Ni

64.1 22.0 86.0 7.9 6.1

14.0 100.0 1

S 22.0 17.4 39.4 19.6 41.0 60.6

S 21.0 19.0 40.0 24.9 35.1 60.0

S 25.7 12.3 38.0 35.4 26.6 62.0

S 28.5 10.3 38.8 35.1 26.1 61.2

Both zone slightwas sLCT-testinlibera At thbeen 16.2. Davisminerseparfracticontain 20 For thover A numagn

the Cu and material. T

tly lower thasignificantly-1, which ung results onated chalcop

he time of issreceived and

2.3 Magn

s Tube highralization grration gave aion and aboaining 17.5%09/10.

he LMC, on90% of the p

umber of tesnetic separat

Recovery (%)

Ni recoveriThe Ni recoan the other y lower than used a blendn net textur

pyrite at a cer

suing this Ted therefore r

netic Separa

h intensity mround to 80a good split, out 80% of

% nickel. The

nly 50% to 6pentlandite w

sts combinintion could be

Flotation L

ies appear toovery in LCthree tests (8the other thr

d of lower red samples,rtain grind s

echnical Reprecoveries an

magnetic sepa% passing with over 90f the pentlaese results w

60% of the pwas retained

ng magnetic e justifiably

Figure 16.2 ocked Cycle T

o consistent T-1 (84.9%86.0 to 86.6%ree tests (95zone materi, which sugize compare

port, the LCTnd concentra

aration tests100 microm0% of the pyandite being

were consiste

pyrrhotite wad in a low gra

separation be included

Cu+Ni c/f R

LCT-3T-2

Test Results

for the thre), which us%). The Cu

5.1 to 96.1%ial, correspo

ggested a reed to the upp

T detailed anate grades w

s were condumetres. For yrrhotite beig retained ent with the

as recoveredade (8.7% N

and flotatiod in the flow

ee LCTs comes lower zou recovery in

%). The loweonds with tlatively low

per zone min

nalyses for there not avail

ucted on samthe UMC s

ing recoverein a non-mtests carried

d to the magnNi) non-magn

on were undwsheet. The

ecovery

Recovery

mpleted on uone material,n LCT-1 (88er Cu recovehe mineralo

wer proportioneralization.

he PGMs halable.

mples of masample, magd to the mag

magnetic frad out by SGS

netic fractionetic fraction

dertaken to s test results

upper , was 8.6%) ery in ogical on of

ad not

assive gnetic gnetic action S-MS

on but n.

see if were

not cpoten 16.3 For thprodu82.9%for Crecovblend Ni reprelim89% Meta(Mico 16.4 At thcomp

conclusive bntial for impr

RECOVE

he purposes uct grading % for Ni. Fo

Cu and Ni, reveries equated, the averag

ecoveries acminary assesand 96% ho

allurgical recon, 2010) fo

ON-GOI

he time of ispleted. Outs

Locked cy

Character

Geochem

Self-heati

Solid-liqu

Copper/niconcentra

VariabilitadditionalReport.

but additionaroved results

ERY ESTIM

of the prelim10% Ni, M

or massive mespectively. e to 84.3% age recoveries

hieved in thssment (Mic

owever, were

coveries of 8or both styles

NG TESTW

ssuing this Ttanding item

ycle test PGM

rization of fin

mical analyse

ing tests on c

uid separatio

ickel separatate products,

ty tests usingl measured a

al testing ws by applyin

minary assesMicon estimmaterial, Mic

Assuming aand 85.6%, rs are 86.3% a

he LCTs of con, 2010) re significantl

80% for Pd, s of minerali

Technical Rems include th

M analyses

nal concentr

s and charac

concentrate a

on tests on sa

tion tests to namely cop

g the standarand indicated

as warranteng concentrat

ssment (Micmated net-tex

con estimatea 10% massirespectively.and 87.9%, r

f 95% to 96recoveries. ly higher.

Pt, Au and ization. The

eport the feahe following

and metal ba

cterization of

and tailings

amples of co

investigate tpper rich and

rd flowsheet d mineral res

d as the wote regrinding

con, 2010), wxtured recoved overall recive : 90% ne. For a 25%respectively

6% compare The LCT c

Ag were useese recoverie

asibility test:

alances.

f tailings.

samples.

oncentrate an

the economid nickel rich

and conditiosources outl

ork did suggg and cleanin

which assumveries of 84coveries of 9et textured b

% massive : .

very well wopper recov

ed in prelimes have yet to

twork progr

nd tailings.

cs of producconcentrate

ons using sained in this T

gest that theng.

med a concen4.1% for Cu99.3% and 9blend, the av75% net tex

with the avveries of bet

minary assesso be verified

ram had not

cing two s.

amples from Technical

ere is

ntrate u and 96.5% erage

xtured

erage tween

sment d.

The dbeen 17.1 The Bon Jaunder

17.0 MI

deposits withproduced ar

BLACKB

Blackbird chanuary 22, 2rtaken on the

BLA(i) MASSIVE Ca) RESOURCE

Deposit

BLACKBIRD

Deposit BLACKBIRD

BLACKBIRD

Grand To

b) RESOURCEDeposit

BLACKBIRD

ote: All resources hConstraining w

INERAL RE

hin the McFre the Blackb

BIRD CHRO

hromite reso2010 is repre deposit and

ACKBIRD MINCHROMITE RE

S MEASUREDZone

2 BB2-1 BB2-2 BB2-4

Zone 1 BB1

2 BB2-1 BB2-2 BB2-4

otal Measured a

S INFERRED Zone

2 BB2-1 BB2-2 BB2-4

Tohave been roundedwas at 30% Cr2O3

ESOURCE

Faulds Lake bird Chromit

OMITE RE

urce estimatroduced in Td the resourc

ary of the Blac

NERAL RESOESOURCESD AND INDICA

CategorMeasured Measured Measured

total Measured

CategorIndicated Indicated Indicated Indicated

total Indicated

and Indicated

Category Inferred Inferred Inferred

otal Inferred d to the nearest thoallowing for maxi

AND MINE

property forte and the Ea

ESOURCE

te that was pTable 17.1.ce remains u

Table 17.1 ckbird Chrom

URCE SUMMA

ATEDry Tonn

1,635881

1,6754,191

ry Tonn 1,895

816 438 223 3,371

Tonnes 2,142

624 722 3,488

ousand. mum internal dilu

ERAL RES

r which minagle’s Nest n

produced by Since then

unchanged.

mite Mineral R

ARY REPORT

nes Avg.5,000 1,000 5,000 1,000

nes Avg.5,000 6,000 8,000 3,000 1,000

Avg. C2,000 4,000 2,000 8,000

ution of 3 m down

SERVE EST

neral resourcnickel-coppe

y Micon and n, no detailed

Resource

T BY CATEGO

. Cr2o3 (%) 38.42 35.35 35.36 36.55

. Cr2o3 (%) 36.56 36.75 32.91 35.76 36.08

Cr2o3 (%) 36.07 24.83 40.26 34.93

the hole.

TIMATES

ce estimates er-PGE depo

filed on SEd work has

Cr:Fe Ratio1.97 1.95 1.90 1.94

Cr:Fe Ratio1.97 1.94 1.88 1.85 1.94

Cr:Fe Ratio1.95 1.65 2.19 1.95

have osits.

EDAR been

17.2 17.2. The Esuperof inf 17.2. The Gwedgdrillintotal size cto maspaciand to The dCu, P 17.2. To faholescoded

ii) INTERCALAa) RESOURCES

Deposit

BLACKBIRD 2

Deposit

BLACKBIRD 2

b) RESOURCESDeposit

BLACKBIRD 2

te: Intercalated incAll resources hConstraining w

EAGLE’

1 Datab

Eagle’s Nesrseded by thfill and deep

1.1 Drill H

Golder Apriged from parng involvingof 124 drill core. Due toaintain a uning in the upo 100 m grid

database conPt, Pd, Au an

1.2 Litho

acilitate geols are documed include g

ATED CHROMS MEASURED

2 BB2-3a (30BB2-3b (30

al Measured an

S INFERRED Zone

2 BB2-3a (30BB2-3b (30BB2-Lense

Tcludes disseminatehave been roundedwas based on miner

S NEST MI

base Descrip

st resource ee updated re

p drilling.

Holes and A

il, 2010 resorent holes. g 34 additionholes down

o the pipe-likiform drillin

pper part of d towards th

nsists of ovend Cr2O3.

logy and M

logical modeented in a “granodiorite

MITE RESOURAND INDICA

e Ca01) Meas02) Measotal Measured

e Ca01) Indic02) IndicTotal Indicated

nd Indicated

e Ca01) Inferr02) Inferrs (50) Inferr

Total Inferred ed, semi-massive ad to the nearest thoralization and geo

INERAL RE

estimate proesource prese

Assays

ource estimSince then,

nal drill holen to a verticake nature ofng grid. Drithe deposit e bottom lim

er 10,405 sa

Mineralizatio

elling of the from-to” int

e, peridotite

RCES (FRAGMTED

ategory sured sured

ategory ated ated

ategory red red red 2

2and thin bands of cusand. logical trends.

ESOURCE

oduced by Gented in this

ate was basNoront has

es. Thus the Eal depth of af the deposit ill hole coveto a 50-m to

amples of w

deposit, all terval formae, harzburgi

MENTED ZONE

Tonnes A 450,000 537,000 987,000

Tonnes A 245,000 61,000 306,000

1,293,000

Tonnes A 121,000 185,000 2,280,000 2,586,000

chromite.

E ESTIMAT

Golder in Aps Section. T

sed on 90 dcompleted

Eagle’s Nestabout 1,200 mt in the verticerage of theo 75-m spac

which the pri

the major roat. The majoite/dunite, p

Avg. Cr2o3 (%)20.35 29.63 25.40

Avg. Cr2o3 (%)25.42 28.31 26.00

Avg. Cr2o3 (%)22.38 30.51 31.94 31.39

April, 2010 (The update fo

drill holes ofa program ot deposit hasm. All drillcal sense, it

e deposit varcing in the lo

incipal analy

ock types enor rock typepyroxenite,

) Cr:Fe Rati1.39 1.79 1.60

) Cr:Fe Rati1.55 1.67 1.57

) Cr:Fe Rati1.37 1.84 1.78 1.77

(Golder, 201ollows a pro

f which 14 of infill and s been testedl holes are owas not pos

ries from a ower middle

yses were fo

countered ines that have

gabbro, ba

10) is ogram

were deep

d by a of NQ ssible 20-m e part

or Ni,

n drill been

ironstdykesm. Sutextur 17.2. The sdownantenby a n The lmode 17.2. SpeciAncaASTMthe 4pycno The SEagle 17.2. A m17.2.softwsoftw 17.2. 17.2. The Eand lsolid block

tone, mafic s, dolomite ulphide minred or dissem

1.3 Surve

survey inforn-hole surveynna. Down-hnorth-seekin

landscape inel is not criti

1.4 Speci

ific gravity aster, OntarioM D854 Sta

4.75 mm sieometer.

SG data set e’s Nest.

1.5 Maste

aster databa1.4 in Exce

ware. The Sware was use

2 Estim

2.1 Overv

Eagle’s Nestogical approcreation, st

k modelling,

volcanic rocand limestoneralization hminated.

rmation recoy data. Coll

hole deviationg gyro (Ref

n the Eagle’cal to the est

fic Gravity

(SG) was do, during theandard Test Mve and the

is representa

er Geologic

ase was creel spreadsheurpac softwd for the res

mation Detai

view of Esti

t updated reoach involvitatistics on block mode

ck, intermedne. The ovehas been rec

orded in the lars were loc

ons were meaflex Gyro).

s Nest area timation of r

determined oe course of sMethod for SG measure

ative of the

al database

ated by impeet files int

ware was usesource mode

imation Met

esource mineng geologiccomposites,

el validation

diate volcanierburden thiccorded for ea

files includcated using aasured using

is monotonresources.

on a total ofsample analySpecific Gra

ement is per

range of nic

porting the to the Surp

ed for solid mlling.

thodology

eral estimateal interpreta geostatisticand classific

ic rock, felsickness is vaach interval

des collar coa Trimble G

g the Reflex

nously flat an

f 263 samplyses. The Savity of Soirformed is p

ckel grades

data descripac version modelling a

e has been cation, convencs, creation cation.

ic volcanic rariable but a

as being ei

o-ordinates, GPS Pathfind

EZ-Shot sys

nd therefore

les at the ASG was detels. The crusperformed u

and litholog

ibed in Sect6.1.4 softw

and statistics

conducted usntional statisof interpola

rock, mafic/averages abother massive

dip, azimuthder with a Zestem and ver

e a digital te

Actlabs faciliermined usinshed sample

using a calib

gies intersect

tions 17.2.1ware and Gs while the G

sing a systemstics on raw ation param

felsic out 10 e, net

h and ephyr rified

errain

ity in ng the e pass brated

ted at

1.1 to GEMS Gems

matic data,

meters,

17.2. The theredepospipe-approdepthaboutopen- The Ndissempyrrhof thethe ddeforsurfathe ominerintercgeoloor low 17.2. The minerdeterm The pof Nifollowlimitsas repthis esignif The msamp As isotherenrich

2.2 Geolo

Eagle’s Nesfore, no geosit compriselike body t

oximately 20h beyond 1,5t 200 m east-ended along

Ni-Cu-PGE minated sul

hotite, pentlae sulphides

drill holes inrmation, as ce coupled w

overall geomralization pcepts show ogical reasonwer zones of

2.3 Statis

rationale foralization inmine the com

primary statii, i.e. the chwed by anots of the broapresenting thenvelope leaficant levels

mode of theple length.

evident fromr hand, Au ahment coinc

ogical Interp

st deposit mological domes two segmthat dips su00 m along s500 m belowt of the Maig both strike

mineralizatlphides. Thandite and chis not discer

ntersecting tevidenced bwith metamo

metry of the atterns is nthat Ni-Cu-

n to believe f the deposit

stics on Raw

or statistics ndicator gradmposite leng

istics of the hief componther one at 0ad zone of mhe outer lim

aves out som.

e sample len

m Table 17.2and Pt showciding for all

pretation

mineralizatiomains are ap

ments – the Mub-verticallystrike in a nw surface. Tin Zone. Itse directions a

tion is assoche major suhalcopyrite wrnible due tothe deposit by the narroorphism, havbodies. Th

not possible -PGE are cothat massive

w Assay Dat

on the rawde in order gth and (c) e

raw assay daent of the m

0.5% Ni (Figmineralizatio

mit of the minme PGE valu

ngths was fo

2, there is rew poor correl the metals.

on is confinepplicable to

Main Zone awith the l

orth-south dhe East Zons dimensionsand at depth.

ciated with ulphide minewith accessoo one or a care at highlwing and twve obliteratehus, wire-fra

or practicaoncentrated e sulphides

w assay dato draw th

stablish the

ata are presemineralizatiogure 17.1). on for Cu, Ptneralization

ues in the ha

ound to be 1

easonable coelations with

ed within ao the resourand the Eastlonger axis direction, 40ne is a norths have not b.

massive/semerals identif

ory magnetitecombinationly variable awisting of thed the originaming to difal. Despitein the samwould be re

ata was threhe potential general relat

ented in Tabon, shows a The lower bt, Pd and Auenvelope.

anging wall

1.5 m and th

orrelation beth other meta

a single ultrrce estimatiot Zone. Thein the dip to 60 m wi

h-south strikibeen fully es

mi-massive, fiable with e. The patteof the follo

angles, (b) ehe Main Zonal fabric of fferentiate the the obliter

me broad zonestricted to t

eefold: (a) ore zone entionship betw

ble 17.2. Thclear-cut br

break also cou, and was tIn one or twbut these ar

his was ado

tween Ni, Cuals despite th

ramafic unit on process. e Main Zonedirection.

de and is oping tabular bstablished as

net-textureda hand len

ern of distribowing factorextreme phy

one 100 m bthe mineral

he three sulpration, drill ne. There the upper, m

to establishnvelope andween metals

e probabilityreak at 0.25%oincides wittherefore selwo rare instare not elevat

opted as the

u and Pd. Ohe zone of m

t and, The

e is a It is

pen at body, s it is

d and ns are bution rs: (a) ysical below s and phide

hole is no

middle

h the d, (b) s.

y plot % Ni th the lected ances, ted to

On the metal

17.2. Two cut-osoftw

Number ofMinimum vMaximum Mean Median Variance Standard DCoefficient

Ni (%) Cu (%) Pt (ppm) Pd (ppm) Au (ppm)

2.4 Solid

separate solff grade of

ware version

Variable

f samples value value

Deviation t of variation

Element

Creation/M

lids/envelop0.25% Ni 6.1.4. Poin

Primary Sta

Cumulative P

Modelling

pes represent(see Figure nts defining

Table 17.2 atistics of Raw

Statistics Ni

(%) C(%

10,405 100

11.8 0.99 0.27 2.70 1.64 1.66

relation CoeffiNi

(%) C(%

1.00 0.48 0.06 0.80 0.05

Figure 17.1 Probability Pl

ting the Mai17.2). Thethe mineral

w Assay Data

Pt(ppm

0,405 10,40

27.7 10.57 00.11 01.88 1501.37 122.41 15

icientCu %)

Pt(ppm

0.48 01.00 00.13 10.58 00.10 0

lot for Nickel

in and East e solids welized envelo

(ppm) 405 10,40

0 170 85.

0.78 1.90.11 0.50.58 11.32.27 3.35.80 1.7

(ppm) 0.06 0.80.13 0.51.00 0.10.10 1.00.02 0.0

Zones wereere created uope were sn

Au (ppm)

05 10,4050 0

.2 10692 0.1655 0.0330 3.0736 1.7575 10.97

Au (ppm)

80 0.0558 0.10

0 0.0200 0.0909 1.00

e created ususing the Suapped to the

sing a urpac e end

pointwere the vshare

17.2. Compa 1.5than becausamp Statispoputhe stlowerreflec

ts of the apprvalidated th

volumes wered) edges.

Eagle’s Nest 3D

2.5 Comp

posites were-m run leng0.75 m. Couse the scaleples.

stical analyslation pattertatistical resr part of Tacted for the r

ropriate drillhrough visuare verified t

D Isometric V

positing and

e developed th down-hol

omposites we of mining

sis of comporns and corresults is preseable 17.3 shraw sample d

l hole interval checks. Uto ensure th

View of the Ma

d Statistics o

(within the ele and rejectere generateselection w

osite sampleelations, (b) tented in Tabhows an impdata in Table

vals to ensureUsing an in-bhat there we

Figure 17.2 ain and East Z

on Composi

envelope defting any lenged without a

will be signif

es within thetop-cut valuble 17.3. Aproved corre 17.2.

e proper sambuilt moduleere no inters

Zones Solids a

fined on a 0gths at the b

applying a toficantly large

e solids wasue(s) and (c) Analysis of trelation betw

mple capturee within the sections or

and Diamond D

0.25% Ni cutbottom limitop-cut and ther than that

s performed global meanthe correlati

ween Ni, Cu

. Snapped pSurpac softwinvalid (ope

Drill Coverag

t-off grade) ut which werehis is appropof uncompo

to determinns. A summaion matrix iu and Pd th

points ware, en or

using e less priate osited

ne (a) ary of in the han is

The popu

Thesetexturbetwe

Number ofMinimum MaximumMean Median Variance Standard DCoefficien

Au (ppm) Cu (%) Ni (%) Pd (ppm) Pt (ppm)

histogram olations with

e populationred sulphideeen 4 and 10

Variable

f samples value

m value

Deviation nt of variation

Element

of the majodiffuse boun

Histogram S

ns correspones with Ni v0%.

Summary Stati

CorrNi

or componendaries (Figu

Showing Distr

nd to dissemvalues up to

Table 17.3 istics on Comp

Statistics i

%) Cu(%)

,731 3,70.01 9.94 15.1.72 0.1.48 0.3.06 1.1.75 1.1.02 1.

relation Coeffii

%) Cu(%)

0.04 0.0.53 1.1.00 0.0.80 0.0.05 0.

nt of the dure 17.3).

Figure 17.3 ribution of Nic

minated sulo about 4%

posite Sample

Pt (ppm)

731 3,7310 0

.34 202.2

.90 1.06

.54 0.56

.17 18.62

.08 4.31

.20 4.07icient

Pt (ppm)

.14 0.06

.00 0.14

.53 0.05

.64 0.16

.14 1.00

deposit, i.e.

ckel Values in

lphides with% and massiv

Pd (ppm)

1 3,731 0 0 2 31.85 6 3.23 6 2.74 2 8.27 1 2.88 7 0.89

Pd (ppm)

6 0.11 4 0.64 5 0.80 6 1.00 0 0.16

nickel, sho

Composites

h Ni valuesve sulphides

Au (ppm)

3,7310

70.70.250.082.851.696.77

Au (ppm)

1.000.140.040.110.06

ows three m

up to 1%,s with Ni v

, net-values

Compexamcappineceshistog The g

The withi 17.2. The Enot ad The Mto coprese

Elemen

Note: Rangpoorl

Varioof cowhich

posites popumined. The h

ing was appssitated cappgrams are sh

global mean

Ni : Cu : Pt : Pd : Au :

global meanin reasonable

2.6 Grad

East Zone odequate for v

Main Zone hover the prinented in App

nt Axis

Major (Semi-majo

Minor (Major (

Semi-majoMinor (Major (

Semi-majoMinor (

ges for the semi-maly defined and hav

ograms for Norrelation areh implies th

ulation histoghistograms foplied. Logping at 20ghown in App

values of th

1.72%0.90%1.06 g/3.23 g/0.25 g/

n values proe limits abov

e Variograp

f the depositvariographic

has adequatencipal geomendix 2. Th

s Dire

(z) Dowor (y) Along(x) Acros(z) Dowor (y) Along(z) Acros(z) Dowor (y) Along(x) Acros

ajor and minor dirve been omitted in

Ni, Cu and Pe good. Vahat values fo

grams for Nor both Ni an-histograms

g/t, 20 g/t apendix 1.)

he elements o

/t /t /t

ovide an indve or below t

t is covered c analysis.

e sample covmetrical direhe results are

ummary Resul

ection Nug

wn-dip 0.4g strike ss strike wn-dip 0.5g strike ss strike wn-dip 3.4g strike ss strike

rections are determthe table.

Pd are similarariograms fofor these two

Ni and Cu annd Cu revea

for Pt, Pdand 5 g/t, r

of the deposi

direct checkthe mean va

by only 5 d

verage and foctions) were

e summarize

Table 17.4 lts of Main Zo

gget Structu

45 1.87

56 0.59

45 3.16

mined from ratios g

r and this is or Pt and Auo elements

nd log-histogaled no outlied and Au shrespectively.

it are as follo

k on the bloalues.

drill hole int

our variograme computedd in Table 1

one Variograp

ure 1 StructRan

7 937826

6 808033

given on the major

to be expectu show an aoccur rando

grams for Pt,er values andhowed outli. (All histo

ock grades w

tersections a

ms (one dowd. The vario7.4.

ture 1 nge

3 08 6 04

r variogram for ea

ted because apparent 100omly within

, Pd and Au d hence, no gier values wograms and

which shou

and these dat

wn-hole and ogram detail

ucture 2

StruRa

.83 2 - -

ach element. Those

their coeffic0% nugget en the minera

were grade which d log-

ta are

three ls are

cture 2 ange 280

e for Cu are

cients effect alized

envelcompindiccondudifferPd asinterp 17.2. StatisbounThusmaintestimappro 17.2. The b547,8limit geophgener Based= 5 mused A vorepre 17.2. The sand T

lope. Consprising disseatory only. ucted on datrentiate the ms reflected inpolations.

2.7 Choic

stical analysdaries as ex, the ID2 metains a balan

mate the multoach where b

2.8 Block

block mode800 East, 5,8

was definehysical evidrated from th

d on the geom and z = 1at the solid/

olume checksentation of

2.9 Searc

search paramTable 17.7 (f

idering thateminated, ne

A prerogta comprisinmineralization the variog

ce of Interpo

sis of compxpected in aethod, whichnce between ti-metal resobase and pre

k Model Def

l of the dep842,900 to 5ed on the i

dence. The uhe drill hole

ometry of the0 m was sel/mineralizatik of the blocf the volumes

ch Paramete

meters are sufor Au).

Vax y z Minimum # SMinimum # DMaximum Sa

The larger radius i

t the spatial et-textured ative for acng a single pon domains.graphy, prov

olation Tech

posite sampla mixture ofh gives both

weighting aource. It is cious metals

finition/Desc

posit covers 5,844,000 Ninfluence oupper limit rcollars and l

e deposit andlected to fillion envelopeck model ves of the two

ummarized in

rch Ellipsoid

ariable

Samples Drill Holes amples/Drill Hois for search direct

analysis wand massivccuracy in population a Nonethele

vides guideli

hnique

les has revef massive, na fair amoun

and smoothinalso felt thas occur toget

cription

a 3-D blockNorth, and -1

f the deeperepresentinglogs.

d drill hole sl the minerae boundary tersus the misolids.

n Table 17.5

Table 17.5 Parameters fo

Pass 1

12 40 50 6 3

ole 2 tion 3.

was carried ove zones, thspatial anal

and, as notedss, the rangeines to the s

ealed multipnet-textured nt of weightng was chosat the ID2 mther.

k in UTM c1,600 m to 1est drill ho

g the topogra

spacing, a paalization envto get an accineralization

5 (for Ni, Cu

or Ni, Cu, and

Pass 2 Pass25 5080 160100 2004 22 12 2

out on mixehe results mlysis is thatd above, it ie of influencsearch ellips

ple populatiand dissem

ting and smosen as the mo

method is the

coordinates 170 m Elevale supporteaphy and top

arent block svelope. Partcurate volumn envelopes

u and Pd), T

s 3 Pass 4 75 0 160/3001

0 400/5001

ed mineralizmust be taket variographis not possibce for Ni, Cuse radii for g

ons with diminated sulph

oothing, or wost appropria

e most reason

from 546,5ation. The ld by downp of bedrock

size of y = 5ial percents

me representarevealed a

able 17.6 (fo

zation en as hy be ble to u and grade

iffuse hides. which ate to nable

00 to lower

n-hole k was

5 m, x were

ation. good

or Pt)

For Njustifthe aaverafor Pdoubzonescontin Gold Passehigh tight For anumb For Pensurof the For Pminiminterp

Ni, Cu, andfies groupingaverage varioage variogramass 2 equatele Passes 2 s while Passnuity.

shows almoes 1, 2 and 3nugget effecthan they ar

all passes, thber of drill h

Pass 1, the re that the ne three close

Pass 2, the mum of twopolation are

Vx y z Minimum # Minimum # Maximum S

The larger radius

Variable x y z Minimum # Minimum # Maximum S

d Pd, a reasg them togeogram rangem range for

e to the respeand 3, resp

s 4 covers a

ost 100% nu3 have been ct but not to

re for gold.

he maximumoles in the in

minimum aearest sampl

est holes are

minimum no drill holes increased to

Search Ellip

Variable

Samples Drill Holes amples/Drill His for search direc

Search Elli

Samples Drill Holes amples/Drill H

sonable corrther. The Pe for Ni anall 3 elemen

ective averagectively. Pa

areas with lim

ugget effect tightly reduco the same e

m number onterpolation

and maximule(s) is/are aused in the i

number of in the interp

o fourteen to

Table 17.6

psoid Parame

Pass 13 5

20 6 3

Hole 2 ction 3.

Table 17.7

ipsoid Parame

Pass 13

25 25 6 3

Hole 2

relation exisPass 1 dimennd Pd in thents (i.e. Ni, Cge full variogass 3 servesmited drill h

(see Appenced to avoidextent as go

of samples p.

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eters for Au

Pass 2 Pas5 1

10 245 94 22 12 2

eters for Pt

Pass 2 Pas5 1

50 1050 104 22 12 2

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per drill hol

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ss 3 Pass 4 0 20/601 0 300 0 500

2 2 1 1 2 2

ss 3 Pass 4 0 60 00 300 00 500 2 2 1 1 2 2

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2.10 Orien

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Variable al Azimuth al dip diate Azimuth

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150 to -400

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or the East Zo

Figure 17.4 ds Showing Se

Table 17.8 h Ellipse Dire

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-400 to -900

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earch Ellipse O

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0 -1,500

terpolation a

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allows the b

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17.2. The 2typessampobtain

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Figure 17.5 kel Grade Vers

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Figure 17.6 e Model Categ

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drill holes anown-hole geo

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ource categoreas have vend the down-ophysics.

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Resource B

spect. Pass 3

ory was assiry limited d-dip extensio

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3 areas with g

igned to cohdrill hole infoon of the Ma

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Figure 17.7 Showing Distri

good visual

herent Pass ormation andain Zone cov

and the estim

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evidence of

4 areas incd include thvered by two

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TotaTota

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Main Zone

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Main Zone

al Indicated al M+I Eagle’s

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East Zone

al Inferred Mineral resources w

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