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QUARTZ MOUNTAIN PROJECT: TECHNICAL PRESENTATION

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Page 1: Orn 43 101 print

Quartz Mountain Project: technical Presentation

Page 2: Orn 43 101 print

Quartz Mountain ni-43-101 report 2012 2

• TheQuartzMountainPropertyislocatedintheFremont-WinemaNationalForest,BlyRangerDistrictinLakeCountyinsouth-centralOregon,approximately50kmwest-northwestofLakeview,Oregon.

• TheQuartzMountainPropertyis100%ownedbySeabridgeGoldInc.(“Seabridge”),throughitswhollyownedAmericansubsidiarySeabridgeGoldCorporation

• Volcanic-hosted,hot-springgolddepositsonnorthernextensionofprolificBasinandRangeGeologicProvinceofNevada

• Disseminatedfinegoldmineralizationaccompaniespervasivesilicaflooding

• Multiple,moderate-to-highgradegoldzonesupto10ouncespertonover5feetarefoundwithinbroadinterceptsoflowergraderocks

UndilUted inferred Mineral resoUrce

crone Hill & QUartz BUtte tons (000) au (opt) au oz (000)1

total oxide 70,710 0.018 1297

total sulfide 51,036 0.03 1551

total Project 221,746 0.023 4848

• Todate,mineralizationhasbeenidentifiedintwoofseveralrhyolitedomesontheproperty,theCroneHillandQuartzButtedomes

• March21,2012NationalInstrument43-101compliantreportonQuartzMountain(the43-101Report)preparedbyResourceModelingInc.andDiscoveryConsultantsresultedinaninferredresourcebasedon80,000mofdrillingusingUS$1500perounceconceptualpit

QUARTzMOUNTAINPROjeCT:OVeRVIeW

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Quartz Mountain ni-43-101 report 2012 3

• LindaThorstad,MSc,PGeo,FeC,President,ChiefexecutiveOfficerandDirector,hasover30yearsofexperienceintheminingsectorrangingfromresourceevaluationthroughminedevelopmentaswellasextensiveexperiencerelatedtosustainabledevelopmentandcommunityengagement.

• BrunoBarde,MSc,PGeo,ChiefOperatingOfficer,has30yearsofinternationalminingexperiencewithafocusondevelopmentofadvancedstageprojects.HehasparticipatedintheacquisitionofandcompletionoffeasibilitystudiesoftheMulatosandMusselwhiteprojectsthatbecamemines.

• MichaelAttaway,Pe,Director,has30yearsofminedevelopment,constructionandoperationsexperienceandhasoverseentheconstructionofsixmajorminesinthewesternUSincludingtheMcLaughlinMineforHomestakeandtheCastleMountainandBreweryCreekMinesforViceroy.

• BrianFlower,BSc,Directorhas35yearsofexperienceinminingandfinanceindustry.FormerVPCorporatedevelopmentofViceroy,hisexperienceincludesexploration,projectevaluation,minedevelopmentandminefinance,andminerals/metalsmarketing.

• WilliamRohtert,Consultant,hasover30yearsofexperienceintheminingsectorpredominantlyfocusedonepithermalgoldsystems.Hewasco-discovereroftheQuartzMountainmineralizationandworkedonthepropertyforseveralyearsinthe1980s.

• jDSMiningandenergy,areafullserviceengineeringfirmretainedtosupportallaspectsofQuartzMountainprojectdevelopment.

• TereseGieselman,CFOandCorporateSecretary,has25yearsexperiencewithpublicly-listedminingcompanies.

ORSATeAM:MINeDeVeLOPeRS

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Quartz Mountain ni-43-101 report 2012 4

• TheQuartzMountainPropertyis100%owned,subjecttounderlyingroyalties,bySeabridgeGoldInc.(“Seabridge”).TheAngel’sCampPropertyisa50-50jointventurebetweenSeabridgeandGoldenPredatorCorp(“Predator”).

• OnOctober24,2011,SeabridgeandOrsasignedanoptionagreementinwhichOrsacanearna100%interestinthe244claims(4,823acres)attheQuartzMountainProperty.

• TheBLMhasjurisdictionoverallmineralresourcesonfederallandandtheUnitedStatesForestService(“USFS”)hasmanagementofthesurfaceresourcesonnationalforestlands.

• TocarryouttherecommendedexplorationprogramintheReport(Section26),apermitwillberequiredfromtheUSNF.Abondwillneedtobepostedtocoverthecostofreclamation.TherearenoexistingpermitsontheQuartzMountainPropertyortheAngel’sCampProperty.

Quartz Mountain ProPerty orthoPhoto + ClaiMs MaP

PROPeRTyLOCATIONANDDeSCRIPTION

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Quartz Mountain ni-43-101 report 2012 5

• Access:Lakeview-KlamathFallsHighway(USHighway140)

• AccesstotheCroneButtezoneisslightlyfurthernortheastonanundevelopedforestroad.

• TheareaaroundthePropertiescontainsamplewatersourcesandadequateroomforallsitefacilities.

• LocallabourisavailableinLakeview,Oregon(50km)andKlamathFalls,Oregon(100km).

• Thepropertyischaracterizedbyseveraldistinctivehillsabout3kmindiameterwithanaverageelevationofabout1830mabovesealevelandreliefintherangeof60to300m.

INFRASTRUCTUReANDLOCALReSOURCeS

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GeOLOGICALSeTTING:OReGON

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• TheQuartzMountaingoldandmercurydistrictislocatedinaMid-Tertiaryvolcanichighland• Intrudedintothenorthwesttrendingstructuralzoneareanumberofrhyolitedomesandrelatedflows,breccias,andtephradeposits.

ReGIONALGeOLOGy

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Quartz Mountain ni-43-101 report 2012 8

PROPeRTyGeOLOGy

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Quartz Mountain ni-43-101 report 2012 9

TrpTrp

TriTri

Tht

Tht

Tbp Tbp

Tra

Vitrophyric Rhyolite

Porphyritic Rhyolite

Heteralithic Tu�/Tu� Breccia

Aphanitic Rhyolite

Oxide Resource

High-grade Veins and Fractures

Basaltic Andesite

TrpTrp

TriTri

Tht

Tbp

Tra

QUARTZ MOUNTAIN PROJECT SCHEMATIC CROSS-SECTION QUARTZ BUTTE

EW

Mineralization

• Therhyolitedomecomplexestypicallyhavecontactsthattaperdownwardintocircularintrusivevents.

• Thegenerallywell-orderedvolcanicstratigraphycontainsprimarilyheterolithictuffandvariousbrecciaunits.

• Thebasaltunitsarefinetomedium-grained,high-aluminabasalts–generallyolderthanthedomecomplexes

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Quartz Mountain ni-43-101 report 2012 10

Mineralization

• Hydrothermalalterationcharacterizedbyacidleachingandquartzprecipitationingoldzones.

• Goldmineralizationoccurswithsilicificationandquartzveiningin:

▪ Hotspringssintersandventbreccias; ▪ Stockworksandhydrothermalbrecciaswithinvolcanicventsandalongintrusiveandstratigraphiccontactsand;

▪ Strataboundzonesofreplacementmineralizationoccupyingselectlapillituffsandbasalticagglomeratehorizons.

• Thegoldmineralizationisgenerallyconcealedbyoverburdenorbarrenrock

• Displayconspicuoussurfacegeochemicalanomaliesthatarecharacteristicofavolcanic-hostedgoldsystem:arsenic,antimony,mercury,gold,andsilver.

FAULT

LOW-SULPHIDE AU VEIN(MARCASITE, COVELLITE)

INTERMEDIATE-SULPHIDE AU VEIN (ANATASE)

HOT SPRINGS SINTERS

RHYOLITE DOME COMPLEX

TERTIARY ANDESITES & RHYOLITES

CHALCOPYRITE ARGILLIC ALTERATION

EOCENE AGGLOMERATES

MESOZOIC/PALEOZOIC BASEMENT

CHALCOPYRITE K-SILICATE ALTERATION

QUARTZ-KAOLINITE

QUARTZ-BRAVOITE

ACID-LEACHED ZONE

DISSEMINATED AU-AG MINERALIZATION

AU-HEMATITE IN VUGGY QUARTZ

AU-GOETHITE IN VUGGY QUARTZ

PALEOSURFACE

RHYOLITE DOME COMPLEX

L-S AU VEINS

I-S AU VEINS

500m

PALEOSURFACE

SINTER TERRACE

• GoldatQuartzMountainisgenerallyveryfinegrained(<20microns)

• Un-oxidizedasmarcasite,covellite,chalcopyrite,anatase,andbravoite

• Oxidizedparts:goldisretainedwithinquartzveinsasgoethite(FeOOH)andhematite(Fe2O3).

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Quartz Mountain ni-43-101 report 2012 11

• Thelow-sulphidationepithermalmodelseemstobestexplainthedistributionofgold,characteristicboilingtexturesintheveinsandmineralogyatQuartzMountain.

• TheexplorationtargetswithintheQuartzMountainDistrictshareanumberofcharacteristicswithbonanzagolddistricts:

▪ Bandedcrustiform-colloformveinswithcalcite,adularia,quartzandnativegold

▪ Structuralcontrolofhigh-gradegoldbearingveins

▪ Favourablemid-MioceneAgeandbimodalvolcanicsetting:rhyolitedomesandco-magmatictuffbreccias

• SleeperDeposit,HogRanch,Goldfields,variousminesinesmeraldaCounty(allinNevada)andtheOatmanDistrictinArizona;IvanhoeDepositintheCarlintrendofnorthernNevada.

• Suggestslargetonnage,low-gradegolddepositsremainthemostviabletargetsontheProperties.

Mineralization

GREENSTONE TURBIDITE

& BIF

INTRUSION-HOSTED

SEDIMENT-HOSTED

PROPHYRY SKARN

HS-IS EPITHERMAL

LS ALKALIC

LS-EPITHERMAL CARLIN

LS-EPITHERMAL CARLIN

AU-VMS

WITWATERSRAND

GREENSTONE ATYPICAL

0

200

400

600

800

1000

1200

1400

0 5 15 20 25 30

DEPOSIT TYPES (USA)

CO

NT

AIN

ED

AU

(M

OZ

)

NUMBER OF DEPOSITS (USA)

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Quartz Mountain ni-43-101 report 2012 12

exPLORATIONANDDRILLING:HISTORy

1980 1985 1990 1995 2000 2005 2010

1980-1985 DON TRACY Staked claims in recognition of Hg-Au relationship at the McLaughlin Mine in Napa County California

1985 EXVENCO Acquired option from Tracy and staked 35 claims

1982-1985 ANACONDA Systematic exploration

1985-1987 WAVECREST RESOURCES Consolidated property and aggressive exploration program

1987-1989 WAVECREST RESOURCES/GALACTIC RESOURCES Form Quartz Mountain Gold CorpExtensive drilling and full feasibility study of Crone Butte and Quartz Mountain:100 drill holes (1988) 10,600 m460 drill holes (1987) 52,284 m

1992-1994

PEGASUS Completion of an internal resource evaluation and preliminary feasibility study

1995-1996 NEWMONT 12 RC holes, 2097 m, soil geochemistry and trenching

2004 QUINCY GOLD CORP 18 core holes, 4288 m

2009-2010 GOLDEN PREDATOR 9 core holes (2010), 1800 m9 RC holes (2009), 1279 m

2011-2012ORSA VENTURESRelogging and re-testing historical data from 60,00m of core

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Quartz Mountain ni-43-101 report 2012 13

exPLORATIONANDDRILLING:HIGHLIGHTS

HigHligHts

AreA Drill Hole From (Feet)

to (Feet)intervAl

(Feet)Au GrADe

(o.p.t)

Ch QM-440 500 505 5.0 2.77

Ch QM-441 515 520 5.0 1.54

Ch QM-487 208 217 9.0 1.00

cH QM-518 310 315 5.0 9.98

Ch QM-072 147.5 152 4.5 1.83

Ch QM-079 200 205 5.0 1.88

Ch QM-411 230 235 5.0 2.16

Ch QM-448 255 260 5.0 2.25

Ch QM-477 285 290 5.0 1.50

QB QM-388 350 355 5.0 1.04

QB QM-432 275 280 5.0 1.32

QB QM-669 185 190 5.0 1.21

QB QM-700 660 670 10 3.54

QB QM-701 485 490 5.0 3.37

QB QM-705 685 690 5.0 1.49

QB QM-709 350 355 5.0 1.48

QB QM-710 405 410 5.0 1.14

QB QM-451 515 520 5.0 1.10

QB QM-700 590 595 5.0 1.29

QB QM-455 215 220 5.0 1.20

• Approximately80,000mhavebeendrilledtodateontheQuartzMountainProperty,primarilyontheCroneHillandQuartzButtedeposits.

• Todateapproximately10,000mhavebeendrilledontheAngel’sCampProperty,themajorityontheAngel’sCamparea.

• In2004,Quincydrilled18HQcoreholesforatotalof4,288m.• Drillingin2009and2010ontheAngel’sCampPropertywasconductedbyPredator;comprisingin2009,9RCholesfor1,279mandin2010,9diamondholesfor1800m.

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Quartz Mountain ni-43-101 report 2012 14

New Assay Results from 2004 DrillingHighlightsInclude:• HoleQM-725:29mat0.92g/tAu(w.avg.)• HoleQM-728:15.2mat0.74g/tAuAND44.2mat1.0g/tAu(w.avg.)

• HoleQM-729:51.8mat1.13g/tAu(w.avg.)• HoleQM-730:45.7mat0.88g/tAu(w.avg.)

Reported intervals must be at least 1.5 meters wide; drill hole intercepts are reported at a 0.2 g/t Au cutoff or a 0.4 g/t Au cutoff. Intervals contain no more than four low-grade to barren samples between mineralized samples containing over 0.2 g/t Au or intervals contain no more than two low-grade to barren samples between mineralized samples containing over 0.4g/t Au

exPLORATIONANDDRILLING:DRILLHOLeMAP

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!!

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!!

QB-03

QB-05

QB-06QB-06

QM-726

QM-725QM-728

QM-730QM-732

QB-04

QM-729QB-02

QB-07

V-SECT QM 730V-SECT QM 730

V-SECT QM 729

V-SECT QM 732

PROPOSED DRILL COLLAR

2004 (QUINCY)

1980'S

ROAD (NEW)

ROAD (EXISTING)

OXIDE PIT OUTLINE

SULPHIDE PIT OUTLINE

V-SECTION

N

!!

!(

!(

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Quartz Mountain ni-43-101 report 2012 15

exPLORATIONANDDRILLING:ILLUSTRATeDDRILLReSULTS

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Quartz Mountain ni-43-101 report 2012 16

Bo

un

dary

Bo

un

dary

Eu

reka

>0.2 g/t Au envelope

>1.0 g/t Au vein envelope

>3.0 g/t Au vein envelope

Porphyritic Rhyolite

Heteralithic Tu�/Tu� BrecciaTht

Basaltic AndesiteTbp

Faults

Sulphide/Oxide Divide

Lechner Pit

Drillholes

Proposed Drillholes

ROCK TYPES

VEINS AND GRADE ENVELOPES

QUARTZ MOUNTAIN PROJECT Sect QM-725

Tht

TriTri

QM

-726

QM

-701

QM

-728

QM

-730

QM

-725Q

M-70

6

QM

-43

3

QM

-28

6 QM

-29

0

QM

-192

QM

-15

1

QM

-34

8

QM

-032

QM

-39

1

QM

-04

9

QM

-707

QM

-700

UPPER B VEIN

UPPER B VEIN

LOWER B VEIN

LOWER B VEIN

QUARTZ BUTTE VEIN

CROSSSeCTIONILLUSTRATION:21,000e

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Quartz Mountain ni-43-101 report 2012 17

B Vein

NE

Ele

ph

ant

FLT

NW

10

9 F

LT

NE

34

2 F

LT

NE

Eu

reka

FLT

QM

-032

QM

-33

7

QM

-317

QM

-43

4

QM

-192

QM

-33

8

QM

-109

QM

-707

QM

-53

4

QM

-73

0

QM

-158

QM

-732

QM

-72

8

QM

-712

QB-07

QB

-05

>0.2 g/t Au envelope

>1.0 g/t Au vein envelope

>3.0 g/t Au vein envelope

Basaltic AndesiteTbp

Faults

Sulphide/Oxide Divide

Drillholes

Proposed Drillholes

ROCK TYPES

VEINS AND GRADE ENVELOPES

Heteralithic Tu�/Tu� BrecciaTht

Porphyritic RhyoliteTriTri

QUARTZ MOUNTAIN PROJECT V_sec Litho 20800E

CROSSSeCTIONILLUSTRATION:20,800e

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Quartz Mountain ni-43-101 report 2012 18

QM

-124

QM

-584 QM

-227

QM

-597

QM

-233

QM

-094

QM

-561

QM

-617

QM

-005

CH-05

5000 W

5500 W

Wolf Vein

Alice & Wolf Vein

Dave 1 Vein

2500

E

2000

E

QUARTZ MOUNTAIN PROJECT CRONE HILL Section 16,800

Porphyritic RhyoliteTriTri

Heteralithic Tu�/Tu� BrecciaTht

Basaltic AndesiteTbp

ROCK TYPES

TrpTrp Vitrophyric Rhyolite >0.2 g/t Au envelope

>1.0 g/t Au vein envelope

>3.0 g/t Au vein envelope

VEINS AND GRADE ENVELOPES

Faults

Extrapolated zone

Drillholes

Proposed Drillholes

CROSSSeCTIONILLUSTRATION:16,800eCRONeHILL

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Quartz Mountain ni-43-101 report 2012 19

MeTALLURGy

• Significantmettestworkcompleted1985to1991insupportof3feasibilitystudies

• Oxidemineralizationrespondswelltocyanidationwith½”to¾”crushsize

• Recoveriesrangefrom74-88%forrhyolite&tuff,mostoftheoxiderocktypes

• Sulphidemineralizationtestsincludedflotation,bacterialheapleaching&agitatedcyanideleach

• Pegasus(1991)projectedarecoveryof70%forbacteriallyoxidized,heapleachedsulphides

• Oxidefollowuptestworkapriorityinthenearterm

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Quartz Mountain ni-43-101 report 2012 20

Bottle roll and colUMn recovery

SAmple NAme lithology Au gRADe (opt) mAteRiAl type locAtioN

golD RecoveRy % ReAgeNt coNSumptioN

-10 meSh bottle Roll

¾” cRuSh columN 1½” cRuSh NacN

(lb/toN)cao

(lb/toN)

182785 Rhyolitetuff 0.043 Oxide CroneHillTrench 81.0 82.1 75.7 1.1 6.5

182783 Quartzvein 0.060 Mixed CroneHillTrench 79.3 76.4 74.5 1.1 6.5

QM-197(18’-36’) Basalt 0.068 Oxide CroneHill6”corehole 48.3 39.6 32.7 1.7 14.0

QM-197(18’-36’) Rhyolite 0.034 Oxide CroneHill6”corehole 89.4 91.4 97.0 0.9 6.0

QM-201(50’-70’) Rhyolite 0.035 Mixed50%Ox CroneHill6”corehole 54.2 54.6 56.3 0.7 4.5

QM-201(75’-95’) Rhyolite 0.027 Sulfide CroneHill6”corehole 21.2 13.6 NoData 1.1 4.5

MeTALLURGy

Several lots of metallurgical samples that were collected from the Quartz Mountain deposit were processed by commercial testing labs. These samples were analyzed using both bottle roll and test columns to determine gold recovery using cyanidation techniques. Given the deposit type (bulk tonnage – low grade), particular emphasis was placed on heap leach methods. The bulk of the metallurgical test work employed cyanide extraction bottle roll tests. Ten larger samples were processed as column leach tests utilizing ¾ inch (19 mm) and 1½ inch (38 mm) crushed material. Analyzed by Davy McKee Corporation in 1988-1989 for QMGC.

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Mineral resource estiMates

UndilUted inferred Mineral resoUrce

area/ Material iMPerial Units Metric Units

au cutoff (opt)

tons (000) au (opt) au oz (000)1

au cutoff (g/t)

tonnes (000)

au g/t au oz (000)1

Crone hill oxide 0.006 46,345 0.018 864 0.21 42,044 0.62 834

Crone hill sulfide 0.017 41,336 0.03 1240 0.58 37,300 1.03 1240

total Project n/a 87,655 0.023 2074 n/a 79,530 0.81 2074

area/ Material iMPerial Units Metric Units

au cutoff (opt)

tons (000) au (opt) au oz (000)1

au cutoff (g/t)

tonnes (000)

au g/t au oz (000)1

Quartz Butte oxide 0.006 24,710 0.019 455 0.21 22,104 0.653 463

Quartz Butte sulfide 0.017 9744 0.032 311 0.58 8850 1.10 311

total Project n/a 121,746 0.023 2848 n/a 110,448 0.8 2848

area/ Material iMPerial Units Metric Units

au cutoff (opt)

tons (000) au (opt) au oz (000)1

au cutoff (g/t)

tonnes (000)

au g/t au oz (000)1

total oxide 0.006 70,710 0.018 1297 0.21 64,148 0.63 1297

total sulfide 0.017 51,036 0.03 1551 0.58 46,300 1.04 1551

total Project n/a 221,746 0.023 4848 n/a 190,546 0.8 4848

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Quartz Mountain ni-43-101 report 2012 22

QMPBLOCkMODeL

6000 ft

5000 ft

4000 ft

5000 ft

LADNER BLOCK MODEL GOLD RESOURCE2004 NI43-101 Report

CRONE HILLRhyolite Dome Complex

QUARTZ BUTTERhyolite Dome Complex

Central Crone HillHigh-grade Gold Zone

SE Crone Hill Vein

Quartz Butte Vein East Vein

Alice Low-Angle Vein

120

0 ft

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Quartz Mountain ni-43-101 report 2012 23

0

700

1400

2100

2800

3500

0.000

0.006

0.012

0.018

0.024

0.030

NU

MB

ER

OF

BLO

CK

S

ME

AN

AU

(O

PT

)

ELEVATION

AUNN AUIDW # BLOCKS

Quartz Butte Gold swath Plot – elevation

crone Hill and QUartz BUtte gloBal Bias cHeck

zone gold grade (oPt) difference silver grade (oPt) difference

idW nn idW nn

Crone hill 0.0156 0.0152 3% 0.0151 0.0152 -1%

Quartz Butte 0.0154 0.0156 -1% 0.0160 0.0156 3%

Nearest-neighbour models were constructed for gold and silver values. To check for possible global biases in the block model, the inverse distance and nearest-neighbour grades were compared for all estimated Inferred blocks at a zero cutoff grade.

Quartz Butte gold grades increase from the surface down to about the 5570 elevation and then gently decline. There is a significant difference between the nearest-neighbour grade shown by the blue line and the inverse distance grade in red at the 5110 elevation. This is due to a relatively high-grade sample that influenced the nearest-neighbour model while the inverse distance model was smoothed by having more available samples.

GLOBALBIASCHeCk

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ReCOMMeNDATIONS

Amulti-phaseconfirmationdrillingprogramisrecommendedtoaddresstheapparentbiasesintheolderRCdrillingdata.Metallurgyandgeotechnicalstudiescouldplayasignificantroleindeterminingtheextentandsizeoftheresource.

• AnewdetailedtopographicmapfromaerialLIDARandaerialphotographyshouldbegenerated.• Availabledrillcorefromrecentdrillprogramsshouldbere-loggedandre-assayed.• Amulti-phaseinfillandconfirmationdrillingprogramisrecommendedtoaddresstheapparentbiasesintheRCdrillingdata.

• MostofthisdrillingshouldbeangledHQcoreholes.• AnextensiveQC/QAprogramshouldanintegralpartofthedrillprogramandshouldinclude:

▪ Theinsertionintothesamplestreamofblanksamplestomonitorpossiblecontaminationduringthesampleprocessingprocedures.

▪ Theinsertionintothesamplestreamofduplicatecoresamples(theotherhalfofthecore)andduplicatepreparationsamples(anothersplitofthecrushedcore)tomeasuretheprecisionofthesamplingandpreparationprocesses.

▪ Thecore,prepandpulpduplicateswillbeusedtoquantifytoprecisionofthesampling,preparationandanalyticalprocedures.

▪ Theinsertionintothesamplestreamofoxideandsulphidestandardreferencematerialstomonitortheaccuracyoftheanalyticalresults.

▪ Monitoringofthelaboratory’sQC/QAblank,duplicateandstandardresultstoaugmenttheresultsoftheinsertedsamples.

• Thedrillprogramshouldalsoincludetheloggingofgeotechnicalinformation,andthecollectionofsamplesforspecificgravitymeasurementsandmetallurgicalstudies.

• Metallicgoldanalysisisrecommendedwhereappropriate.

• APortableInfraredMineralAnalyzer(PIMA)shouldberoutinelyusedduringcoreloggingasanaidtomappingalterationassemblages.

• Baselineenvironmentalstudiesshouldbeinitiated.

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Quartz Mountain ni-43-101 report 2012 25

oreGon CheMiCal ProCess Mine – Consolidated aPPliCation and PerMittinG ProCess

See OAR 632-037-005 to -0155 for specifics

Notice of Intent to Submit a Consolidated

Application

Cost Recovery Agreement with

Company/DOGAMI

Notice of Readiness to Collect Baseline Data

Consolidated Application Filed

Notice to Proceed if Application Complete

Public Input Final PermitsConsolidated contested

case (if requested)

Preparation of Draft Permits

OReGONPeRMITTINGLANDSCAPe

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Quartz Mountain ni-43-101 report 2012 26

This presentation contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding the Company’s plans. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Linda Thorstad, P. Geo., a Qualified Person as defined by National Instrument 43-101 and President and Chief Executive Officer of the Company, has read and approved the technical information in this presentation.

FORWARDLOOkINGSTATeMeNT

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