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Cameron Gold Project – Summary

The Cameron Gold Project comprises an exceptional near-term production opportunity for the Company and a resource that has significant potential to grow in size. The discovery potential for additional mineralisation and resources within the project area is very high.

The Company believes that exploration success at the Cameron Gold Project will see the Cameron Lake Camp become part of the emerging Gold Province in the Western Wabigoon Subprovince as typified by the success of Rainy River Resources at the Rainy River Deposit (>5.0 Moz Gold) 56km to the southwest.

The Cameron Gold Deposit and Project Area comprise the following summary points:

• Located 80km southeast of the city of Kenora and 82km northwest of the city of Fort Frances located on the US border in the southern-most part of western Ontario in Canada.
• Granted mining lease within a project area of 3,205 hectares (32.05km²).
• Paved highway and high-voltage power within 24 km of deposit, with access by all-weather gravel road.
• JORC-compliant indicated and inferred mineral resource estimate of 11.3 Mt at 2.77 g/t gold for 1,005,833 ounces of gold (1.5 g/t Gold cut off), of which 42% is in the indicated category.
• Mineralisation outcrops at surface and extends over a strike of 1,000 metres and to a vertical depth of greater than 700 metres.
• More than 3,000 metres of underground development completed by previous owners, with three exploration drives and decline access to 243 metres vertical.
• Mineralisation is open along strike to southeast (including 9.2m@ 8.39 g/t gold from 199.9m), northwest (including 8.1m @ 2.52 g/t gold from 13.9m) and at depth (3.1m @ 10.95 g/t gold from 779.4m).
• About 21,000 tonnes of crushed and stockpiled mineralised material at an average grade of 4.46 g/t gold, containing about 3,000 ounces of gold remains at surface.
• Up to 96% recoveries achievable from conventional metallurgical techniques in previous testwork.
• Initial open pit scoping studies has recorded positive economic outcomes using the current resource base and gold prices. The present drill program should see an expansion of the resource base and further improvements in the economic viability of an open pit mining operation.
• Significant regional anomalism and mineralisation to be followed up, with 12 known gold prospects with the project area, including drill intercepts at Victor (13.0m @ 10.33 g/t gold from 175.3m), Monte Cristo (14.6m @ 5.22 g/t gold from 102.1m) and the Burke Prospects (3.5m @ 13.72 g/t gold from 17.2m, and 0.7m @ 107.38 g/t Au from 98.5m). Resources which are non-JORC compliant have previously calculated for the Victor and Monte Cristo Prospects.