Resource Estimate NI 43-101

In 2010, an Independent Resource Estimate contained in the National Instrument 43- 101 (NI 43-101) compliant Technical Report was prepared by Ronald G. Simpson, PGeo, of GeoSim Services Inc., for the Canyon Creek Skarn (CCS) Zone. GeoSim’s technical analysis estimates that the Copper-Gold CCS Deposit has an Indicated Resource* containing 49,094 ounces of gold, 31.1 million lbs of copper and 1,149,807 ounces of silver; and a further Inferred Resource* containing 108,410 ounces of gold, 58.0 million lbs of copper and 2,027,956 ounces of silver, using a cutoff grade of 1.5% copper equivalent.

Lustdust Property Technical Report (NI 43-101)

Note: Mineral resources that are not reserves do not have demonstrated economic viability. An Inferred Mineral Resource is that part of a mineral resource for which quantity and grade can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. An Indicated Mineral Resource has a higher level of confidence than an Inferred Mineral Resource but has a lower level of confidence than a Measured Mineral Resource.