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Unformatted text preview: l resources as at December 31, 2012 are classified in accordance with the Canadian Institute of Mining, Metallurgy
and Petroleum’s “CIM Definition Standards - For Mineral Resources and Mineral Reserves” in accordance with the requirements of National Instrument
43-101 “Standards of Disclosure for Mineral Projects” (the Instrument). Mineral reserve and mineral resource estimates reflect the Company’s reasonable
expectation that all necessary permits and approvals will be obtained and maintained. 4 Cautionary note to U.S. Investors concerning estimates of mineral reserves and mineral resources. These estimates have been prepared in accordance with
the requirements of Canadian securities laws, which differ from the requirements of U.S. securities laws. The terms “mineral reserve”, “proven mineral
reserve” and “probable mineral reserve” are Canadian mining terms as defined in accordance with Canadian National Instrument 43-101 – Standards of
Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum’s (the “CIM”) – CIM Definition Standards on
Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended. These definitions differ from the definitions in the U.S. Securities and
Exchange Commission (“SEC”) Guide 7 (“SEC Guide 7”) under the U.S. Securities Act of 1933, as amended. Under SEC Guide 7, a “final” or “bankable”
feasibility study is required to report mineral reserves, the three-year historical average price is used in any mineral reserve or cash flow analysis to
designate mineral reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. In addition,
the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined in NI 43-101 and
recognized by Canadian securities laws but are not defined terms under SEC Guide 7 or recognized under U.S. sec...
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This document was uploaded on 03/30/2014.
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