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Mineral Development Activity

Mineral Development Activity . Northwest Ontario April 2011. Apr 2001 - $270 . Apr 2011 - $1500 . Dec 2008 - $180 . Apr 2011 - $750 . Dec 2008 - $1.30 . Apr 2011 - $4.30 . Dec 2008 - $5.00 . Apr 2011 - $12.00 . Red Lake Mine - Gold. Goldcorp Inc. – operating

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Mineral Development Activity

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  1. Mineral Development Activity Northwest Ontario April 2011 Ministry of Northern Development, Mines and Forestry

  2. Apr 2001 - $270 Apr 2011 - $1500 Dec 2008 - $180 Apr 2011 - $750 Dec 2008 - $1.30 Apr 2011 - $4.30 Dec 2008 - $5.00 Apr 2011 - $12.00

  3. Red Lake Mine- Gold • Goldcorp Inc. – operating • Located in Balmertown, Municipality of Red Lake • Campbell and Red Lake mine complexes • Since 1935 Red Lake Camp has produced – 26 million oz of gold • Goldcorp & Lac Seul FN forming an Environmental Monitoring Committee

  4. Cochenour Project- Gold • Goldcorp Inc. – past-producer • Located in the town of Cochenour • De-watering shaft to access Bruce Channel deposits

  5. Phoenix Project- Gold • Rubicon Minerals Corp. – historic site • Located approx. 5 km NE of Cochenour • Underground infrastructure constructed in the 1950’s and upgraded in the 1980’s • Adv. Exploration in 2009, underground development and drilling underway • Anticipate submission of production Closure Plan

  6. Musselwhite Mine- Gold • Goldcorp Inc. • Located ~130 km N of Pickle Lake • Expansion – new shaft, tailings changes, hydro requirements

  7. Rainy River Project- Gold • Rainy River Resources • ~50 km NW of Fort Frances • Underground advanced exploration project • MoU signed with Fort Frances Chiefs Secretariat, May 2010, IBA discussions continuing • AE program deferred

  8. Hammond Reef Project– Gold • Osisko Mining Inc. – scoping, Env. Assessment • Located ~23 km N of Atikokan • 8 FNs signed MoU in Sept 2009 with former proponent, Brett Resources

  9. Steep Rock Lake – Iron • Bending Lake Iron Group • environmental baseline studies, land tenure • Mine Life >35 years • Employment of 300 direct, 700 construction • Steep Rock-withdrawn from staking, Bending-60 patented mining claims • Located ~7 km N and ~75 km NW of Atikokan • Will produce merchant pig iron

  10. David Bell Mine- Gold • Barrick Gold Inc. – production • Located approx. 35 km east of Marathon • CPAs filed Dec 2009 and Apr 2010 • Closure set for Q3 2014, purchase of Golden Giant leases extended the mine life by 2 years

  11. Golden Giant Mine- Gold • Newmont Canada Inc. • Located ~35 km east of Marathon • production ceased 2006, sold leases to Barrick, retain tailings and water treatment 2005 2020

  12. Williams Mine- Gold • Barrick Gold Inc. • Located ~35 km E of Marathon • CPA submitted Q3 of 2010, pit expansion to extend mine life from 2015 to 2026 • Agreements in place with Pic River FN & Pic Mobert FN

  13. Marathon Project– Copper, Palladium,Platinum, Gold, Silver • Stillwater Canada Inc. – env. assessment • Located ~10 km N of Marathon • 6 aboriginal groups • 6 environmental groups • Employment: 300 direct, 600 construction

  14. Hardrock Project- Gold • Premier Gold Mines Limited – advanced exploration • Located approx. 4 km S of Geraldton • Permits expected Q2 of 2011 re u/g exploration • Long Lake 58 FN, Ginoogaming FN, Métis

  15. Lac des Iles Mine– Palladium, Copper, Nickel, Gold • North American Palladium Limited – restarted in April 2010, underground expansion underway • Located ~90 km N of Thunder Bay

  16. Black Thor Project – Chromium • Cliffs Natural Resources • Investment projected to be $3-5 billion • Mine life >50 years • 800 direct jobs, 2200 construction • Environmental baseline work initiated • Located ~125 km NE of Marten Falls • Potential to be largest mineral development in ON in many decades

  17. Eagle’s Nest ProjectNickel, Copper, Platinum, Palladium • Noront Resources Ltd. • Mine Life: >10 years • Environmental baseline work • Proposed concentrator near Webequie with road link to Pickle Lake area i.e. SW • Mining ~ 1 M t/year • Intersection of mine development and Far North Act

  18. 1 11 10 9 3 6 2 12 5 7 8 4 Upcoming Projects • Big Daddy (Cr) – KWG Resources • Werner Lake (Co) – Puget Ventures • Fish Island (Fe) – Rockex • Thunder Bay North (PGE) – Magma Metals • Kenbridge (Cu) – Canadian Arrow • Griffith (Fe) – Northern Iron • Sturgeon River (Au) – Laurion • Cameron Lake (Au) – Coventry • Madsen Mine (Au) – Claude • Pickle Crow (Au) – PC Gold • Thierry Project (Cu) – Cadillac • Goliath Project (Au) – Treasury

  19. MNDMF Contacts Mineral Development Office: • Mike Grant ……… 807-475-1746 • Mark O’Brien …… 807-475-1106 • Peter Hinz ……..… 807-475-1368 Resident Geologist Program • John Mason ……… 807-475-1331

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