The Northern Miner Jan 4 2021 Issue 1 by The Northern Miner Group

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Canada rejects Shandong’s bid for TMAC M&A

| Miner weighs options to manage balance sheet

BY BRUNO VENDITTI

T Premier Gold’s Mercedes mine in Mexico.

PREMIER GOLD MINES

Equinox to buy Premier Gold in US$480M all-stock deal M&A

| Premier’s assets in Nevada to be spun out into new company

BY CECILIA JAMASMIE AND TRISH SAYWELL

quinox Gold (TSX: EQX; NYSE-AM: EQX) is buying fellow miner Premier Gold Mines (TSX: PG), which will spin out its Nevada assets in a new U.S.focused gold miner to be called i-80 Gold Corp. The all-stock deal valued at $612 million (US$480 million) hands Equinox Gold Premier’s interest in the Hardrock project in Ontario, the Mercedes Mine in Mexico and the Hasaga and Rahill-Bonanza properties in Red Lake, Ont. Premier’s South-Arturo and McCoy-Cove properties will be held by i-80 Gold, which will also complete Premier’s previously announced acquisition of the Getchell project, all in Nevada. Equinox said that it would undertake a $75 million equity financing fully underwritten by its chairman, Ross Beaty, to help fund the deal. The proposal will see Premier shareholders receive 0.1967 of an Equinox Gold share and 0.4 of a share of i-80 Gold for each Premier share held. Equinox shares closed at $13.10 on the Toronto Stock Exchange on Dec. 15, while Premier shares closed at $2.52. Premier investors will own 16% of Equinox Gold once the deal is complete, as well as 70% of the shares of i-80 Gold. The spin-off company will be led by Premier’s current boss, Ewan Downie. Equinox Gold will own the

remaining 30% of i-80 Gold. “This transaction is exactly the kind of accretive Americas-focused growth we promised shareholders when we started Equinox Gold at the beginning of 2018,” Beaty said in a news release announcing the deal. The friendly acquisition is subject to court approval and Premier shareholders’ approval at a meeting scheduled for February. The deal boosts Equinox Gold in the gold market, building on the company’s acquisition of Leagold Mining Corporation. The parties completed their merger earlier this year, creating one of the world’s top gold producing companies operating entirely in the Americas. The Vancouver-based company moved from developer to producer status in July 2020, when it kicked off commercial production at its second gold mine, Aurizona, in northeastern Brazil. Equinox is also advancing construction at the previously mined Castle Mountain, located about 320 km north of its Mesquite operation, which reached commercial production in November. Gold producers are benefiting from high metal prices as unprecedented stimulus measures around the world were unleashed on financial markets. In a research note, Kerry Smith of Haywood Securities noted that the at-market acquisition of Premier Gold “brings near-term growth from Mercedes but more importantly adds a permitted, large and long-life asset

in Ontario that can be production by late 2023. Once the acquisition is complete, Equinox will be well on its way to production of over 1.2 million ounces by 2024, with 15.2 million ounces of reserves and a further 13.0 million ounces of M&I resources in the portfolio post-closing.” “Equinox has moved from a nonproducer in mid-2018 to a company with eight operating gold mines and a pipeline of growth projects,” he added. “However, despite the company’s progress Equinox continues to trade at a discount to its peers, which we believe should close over time but currently presents a buying opportunity for investors.” Smith has a buy rating on the company and a target price of $24.50 per share. Over the last year the company has traded in a range of $6.60 and $17.99 per share and at presstime was trading at $13.30 per share. It has about 242 million common shares outstanding for a market cap of about $3.22 billion. Andrew Mikitchook, an analyst at BMO Capital Markets who covers Premier Gold Mines, said the transaction “creates the potential to surface value for Premier Gold shareholders for its broad and overlooked portfolio.” “Premier Gold shareholders still get exposure to Mercedes/Hardrock and Red Lake through Equinox Gold shares to be received, and the Nevada assets being spun out into I-80 Gold will show the valuation of South Arturo, McCoy/Cove and Getchell.” TNM

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he Canadian government has rejected Shandong Gold Mining’s bid to acquire TMAC Resources (TSX: TMR), the companies said. In a filing to the Shanghai Stock Exchange, Shandong Gold said it had received notice of a decision made by Canadian authorities on Dec. 18, based on the Investment Canada Act. Shandong agreed to buy the company for about US$150 million in May, but in October TMAC said it had received notice that the Canadian government had ordered a national security review. Some investors are worried about TMAC’s ability to repay debt. The miner said on Nov. 5 that it had about $99 million in cash on hand, short of the $169.7 million of debt due in June. “TMAC is likely to be forced into a messy refinancing which could ultimately hurt shareholders,” Laurentian Bank analyst Barry Allan told Reuters news agency. “While we are disappointed with the outcome, we are very pleased that TMAC achieved significant operation improvements at Hope Bay,” Jason Neal, TMAC’s president and CEO stated in a Dec. 21 news release. “We will continue to build on these improvements while considering options to manage our balance sheet.” “Given our September 30, 2020 unrestricted cash balance of $71.5 million and current positive cash flow being generated, we expect to have sufficient cash on hand to fund the 2021 sealift, but not to fully repay maturing debt recently extended to June 30, 2021,” Neal continued. TMAC owns the Doris gold mine, the only operating asset in Hope Bay, Nunavut. The mine began commercial production in 2017 and had proven and probable mineral reserves totalling around 3.54 million ounces of gold at the end of 2019. The miner is in the early stages of developing a second underground mine at Hope Bay — Madrid North. It has also concluded a prefeasibility study on a production expansion at the Hope Bay property. TMAC’s biggest shareholders include Newmont (TSX: NGT; NYSE: NEM), and Resource Capital Funds. Canada last blocked a proposed $1.51 billion takeover of construction company Aecon by China Com-

NORTHERN MINER’S INAUGURAL GLOBAL INVESTOR WEBINAR / 7

munications Construction Co Ltd, also on national security grounds, in May 2018. Canada-China relations have been frayed since December 2018, when Huawei Technologies Co.’s chief financial officer, Meng Wanzhou, was detained in Vancouver at the request of the United States, where she’s charged with fraud. She has been confined to the city since then. Following her arrest, China jailed two Canadians — Michael Spavor and Michael Kovrig –on espionage charges and halted billions of dollars in Canadian imports. Prime Minister Justin Trudeau has faced pressure to toughen the country’s stance on China. Tom Gallo, an analyst at Canaccord Genuity, has a hold rating on TMAC. “With ~ 7.3Moz of resource at roughly 6.9 g/t, we still believe this property holds significant mineral wealth,” he wrote in a Dec. 22 research note. TNM — This article first appeared in MINING.com, part of the Glacier Resource Innovation Group

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Rio Tinto taps finance head as new CEO C-SUITE NEWS

| Fresh leadership needed to rebuild company’s reputation

BY CECILIA JAMASMIE MINING.com

io Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) has named finance head Jakob Stausholm as its next chief executive, replacing incumbent Jean-Sébastien Jacques who had to step down following an international outcry over the miner’s destruction of sacred Aboriginal rock shelters. Stausholm, a Danish national who joined the company in 2018 from shipping company AP MollerMaersk, will be tasked with rebuilding the reputation of the world’s second-largest miner. Rio Tinto fell out of favour with the general public, including investors, following its decision to blast two 46,000-year-old Aboriginal rock shelters at Juukan Gorge to expand an iron mine in Western Australia. The move, while legal, sparked a global backlash and shined a spotlight on how the company’s internal culture may have contributed to the regrettable incident, which cost Jacques the post. It also triggered a parliamentary inquiry, which recently called on Rio Tinto to pay restitution to Indigenous Australians affected by the destruction and also fully reconstruct the damaged site. Stausholm’s promotion came as a surprise to some Australian investors, who have argued that a new CEO should have local experience and be based in the country that

A bucket wheel excavator at Rio Tinto’s Cape Lambert iron ore mine in Australia’s Pilbara region. RIO TINTO

Jakob Stausholm will assume the CEO role at Rio Tinto in January 2021. RIO TINTO

provides 85% of Rio’s profits. Edward Sterck, a metals and mining analyst at BMO Capital Markets, approved of the appointment. “We think Mr. Stausholm is an excellent, cool-headed and sensible appointment, albeit unexpected as most observers were expecting an Australian appointee,” he wrote in a research note. “We do not expect an immediate change in Rio Tinto’s corporate strategy, but we do anticipate a transformation in corporate culture over time.” RBC’s Tyler Broda also said the appointment was a “clear positive,” but noted that Rio Tinto could face criticism from some investors who see the change as insubstantial relative to the magnitude of the Juukan

Gorge incident. Stausholm, who said restoring trust with indigenous groups and other stakeholders was “a key priority for the company,” will have to face a complex situation at Rio Tinto’s biggest growth project in Mongolia. The vast Oyu Tolgoi copper-gold mine has been plagued by delays and cost blowouts that have triggered disputes with the country’s government and Rio Tinto’s partner on the project, Turquoise Hill Resources (TSX: TRQ; NYSE: TRQ). Rio Tinto’s new boss will also inherit a messy situation in Guinea, as the company is the subject of a

probe into payments to a consultant who allegedly helped it secure rights to the northern blocks of the giant Simandou iron ore project. Stausholm will have to simultaneously ensure his Chinese customers remain happy, given the ongoing trade tension between Canberra and Beijing. And while Rio Tinto has committed to spend US$1 billion over the next five years to reduce its carbon footprint, its incoming boss will face stakeholder pressure to also tackle its “Scope 3” emissions — those generated by customers through the use of its products.

Rio Tinto is the latest top miner to make key executive changes. Mike Henry, BHP’s (NYSE: BHP; LSE: BHP; ASX: BHP) chief executive officer, has been at the job only since January 2020. Top commodities trader and miner Glencore (LSE: GLEN) is also waving its long-term boss Ivan Glasenberg good-bye. The executive has announced his retirement and will be replaced by insider Gary Nagle. TNM — This article first appeared in MINING.com, part of Glacier Resource Innovation Group

AME Roundup goes virtual in 2021 EVENTS

| Conference will feature all its regular programming

BY TRISH SAYWELL tsaywell@northernminer.com

ore than 6,000 geoscientists, technical experts, prospectors, suppliers, governments and indigenous partners will be tuning into the virtual AME Remote Roundup 2021 conference running from January 18-22. Attendees and participants will be able to access live and on-demand programming from anywhere in the world and the annual conference offers the ability to connect, network and exchange ideas, Kendra Johnston, AME’s president and CEO says, adding that the theme of the 2021 conference is “Leading Through Change.” Leading Through Change underscores the shift to the virtual realm due to the coronavirus pandemic, but also highlights how AME itself leads through change and how British Columbia is a leader in areas such as innovation and the creation of a mining innovation hub in the province as well as its work on lowering B.C.’s carbon footprint, she explains. “This is our 38th Roundup and it’s such an integral part of the year for all of our members,” Johnston told The Northern Miner in an interview. “It’s the conference that sets the trends for what’s going to happen in the upcoming year.” The 2021 virtual conference will include all of the regular programming that is expected from the annual event, including an impressive line-up of keynote speakers. The conference keynote this year is Robert Friedland of Ivanhoe Mines, who will discuss the international copper markets. The finance keynote will

January 18 - 22, 2021

#LeadingThroughChange Register at roundup.amebc.ca “PEOPLE NEED TO BE ABLE TO MAKE CONNECTIONS, GET THEIR DEALS DONE, AND WE NEED TO MAKE IT FEEL LIKE A CONFERENCE.” KENDRA JOHNSTON, PRESIDENT AND CEO, AME

focus on financing trends and deal structures for junior companies, with speaker David Elliott of Haywood Securities, and the AME keynote discussion will be on diversity and inclusion with Shastri Ramnath, CEO of Exiro Minerals; Andy Randell, CEO and principal geoscientist at SDGS

AME

Hive; Linda Murphy, Yamana Gold’s senior manager of community relations; and John Antwi, president and director of Elim Mining. “The AME keynote being on diversity and inclusion is a first for us,” Johnston said, noting that all four of the speakers “are going to be talking about some of their experiences in the industry – good and bad – from what their days in camp to their days running organizations have been like as individuals from under-represented populations in our industry. It’s going to be an open and honest conversation and one which hopefully we can all learn from.” Johnston added that when diversity and inclusion were discussed at Roundup in the past, “it’s often been women in mining that we’ve

talked about, this is an important conversation, but this past year, the conversation on diversity and inclusion progressed significantly and became much broader. It’s a conversation that we need to have as an industry, as companies, and internally with ourselves, so that we can learn and progress with the conversation.” Looking specifically at B.C., Johnston noted that the province, First Nation governments and industry have made significant progress in 2020 with the implementation of the Declaration for Rights of Indigenous Peoples Act (DRIPA), and the corresponding conversations about diversity and inclusion. “Mineral exploration and mining companies generally are leaders among indus-

try peers in advancing conversations and partnership agreements with our First Nations partners, but we can always go a step further to understand more and strive to improve upon our practices with mutual respect.” Environmental, social and governance topics will also be featured prominently at the 2021 conference, with a full main stage session on ESG for the first time in the event’s history. “This will be a dynamic session, discussing everything from financial disclosure of ESG to protecting supply chains of critical minerals. We’ll also have a discussion on how to evaluate the risks of an ESG program in merger and acquisition (M&A) decisions and a fireside chat with Ross Beaty to chat about mining, communities, biodiversity and land protection for parks,” Johnston noted. In addition, the conference will present interviews with mining heavyweights such as Wheaton Precious Metals’ Randy Smallwood, and Beaty of Equinox Gold, as well as well-known mining analysts in the industry and representatives from larger companies like Microsoft. Johnston, who joined AME as president and CEO in June 2019 after volunteering for the organization for many years, is a professional geologist and mining executive with over 15 years of experience in various facets of mineral exploration and mining in B.C. and the Yukon. Most recently Johnston was president of B.C. and Yukon explorer, Independence Gold. “AME adapted technology from See EVENTS / 16

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SolGold’s Nick Mather faces shareholder anger at AGM C-SUITE NEWS

| Funding decisions at Cascabel project elicit criticism

BY TRISH SAYWELL

tsaywell@northernminer.com

wo years ago, The Northern Miner named Nick Mather, president and CEO of Australian junior SolGold (TSX: SOLG; LSE: SOLG), as its Mining Person of the Year for his role as the driving force behind the world-class Alpala gold-copper deposit at its Cascabel project in Imbabura province in northern Ecuador. The company has attracted major companies as shareholders, including BHP (NYSE: BHP; LSE: BHP; ASX: BHP) with a 13.57% stake and Newcrest Mining (TSX: NCM; AS: NCM) with 13.49%. But delays at the project this year and Mather’s decision in May to raise money through a US$150 million royalty and streaming agreement with Franco-Nevada (TSX: FNV; NYSE: FNV) elicited criticism from some of the company’s shareholders. That displeasure was voiced at SolGold’s annual general meeting on Dec. 17, when 44.75% of the company’s shareholders voted against Mather’s reappointment to the board of directors. Mather, who according to the company’s most recent corporate presentation owns about 4.37% of SolGold, could not be reached for comment. In mid-July, Cornerstone Capital Resources (TSXV: CGP), said it wanted to replace SolGold’s entire board of directors. Cornerstone owns 7.54% of SolGold and has a 15% interest in ENSA, the Ecuadorian company that holds 100% of the Cascabel concession. SolGold owns the remaining 85%. “As one of the largest shareholders of SolGold, it is obvious to Cornerstone that the current SolGold board is incapable of managing the affairs of SolGold for the benefit of all shareholders in a prudent and transparent manner,” Cornerstone’s chairman, Greg Chamandy, outlined in a press release. “Additionally, it is our view that the proposed Franco-Nevada royalty financing will significantly destroy shareholder value for all SolGold shareholders.” Calls for the board’s replacement came shortly after Cornerstone rejected SolGold’s second hostile takeover bid. (SolGold launched its first disclosed all-share bid for Cornerstone in March 2019 and a second on June 30 2020. The second bid valued Cornerstone at about $140 million (US$102 million)). Under SolGold’s financing package with Franco-Nevada announced on May 11, the first US$100 million in funding gives Franco-Nevada a perpetual 1% net smelter return royalty (NSR). The agreement can be upsized by US$50 million to a 1.5% NSR within eight months of the agreement. In addition, SolGold and Franco-Nevada signed a US$15 million secured bridge loan at a 12% interest rate for a four-month period with an option to extend the maturity for another four months. Ingo Hofmaier, SolGold’s executive general manager of corporate finance, noted in a press release announcing the royalty deal that the company had “received and considered a broad range of funding options and the decision to proceed with Franco-Nevada is based on various factors, including the size of investment, the permanent nature of this financing, Franco-Nevada’s experience and understanding of Latin America and the competitive cost of capital.” Hofmaier also noted that in Sol-

Above: Alpala, part of the Cascabel copper-gold project, 180 km north of Ecuador’s capital, Quito. SOLGOLD Inset: Nicholas Mather, CEO of SolGold, accepts the Mining Person of the Year award for 2018 at The Northern Miner’s Canadian Mining Symposium held at Canada House in London, United Kingdom. MARTINA LANG, WWW.MARTINALANG.CO.UK

Gold’s opinion, a 1-1.5% NSR “will not constrain the debt capacity of the project; on the contrary, we believe this financing increases the confidence in SolGold’s ability to fund the development, further affirming the overall quality of the Alpala deposit.” SolGold said the funds would be used to complete a feasibility study and any surplus would be used for SolGold’s share of the development of Alpala, pursuant to agreements with Cornerstone Capital. “The big companies don’t like royalties because they take value away at a project level,” said one mining analyst who covers the company and spoke on the condition of anonymity. “But SolGold’s argument is they’re trying to maximize SolGold’s shareholder value and it’s very dilutive to give equity. The royalty deal preserves the equity component for equity holders and they haven’t realized the full value yet for the project … and Franco-Nevada are going to be partners and that’s not necessarily a bad outcome.” “I’m never a huge fan of royalties but sometimes you don’t have a choice,” he continued. “Cascabel is a huge project and if their equity price had been higher or someone would offer them a higher price they would have taken it.” What’s more, SolGold has made big strides on the exploration front in Ecuador in the last twelve months, the analyst said. In addition to the Alpala deposit at the Cascabel project, SolGold is exploring and assessing 75 regional concessions across 14 provinces in the South American country. Recently the company has released solid assays for its Cacharposa copper-gold porphyry discovery at its Porvenir project in southern Ecuador and at the Tandayaa-America porphyry copper-gold target on the Cascabel concessions. “They’re doing great, they’re finding new porphyries and that’s part of Nick’s vision and the team he’s assembled and that value hasn’t been realized yet and you can see where he’s going with it and that’s not part of any royalty agreement. An equity raise would have diluted that stuff as well.” For its part, Franco-Nevada said it was delighted to participate in the Cascabel project, and president and CEO Paul Brink described Alpala as “an exceptional orebody and one of the most attractive block cave development projects globally.” SolGold updated the resource estimate for Alpala in April, outlining measured and indicated resources of 2.66 billion tonnes at a copper-equivalent grade of 0.53% and another 544 million inferred tonnes grading 0.31% copper-equivalent. The

deposit remains open at depth to the north and northwest. It certainly hasn’t been clear sailing, however. On Dec. 1, SolGold announced it would not be able to complete a prefeasibility study as planned in 2020. Apart from delays caused by the global pandemic, the company explained that new geotechnical information has necessitated a redesign of certain underground infrastructure to a location outside of the cave footprint and also

said it was introducing changes to the mine design and development and mining production schedules. As part of its optimization work, the team is also investigating improvements to metallurgy; seismicity studies to refine design of the tailings dam and processing plant sites; and sustainability improvements, including the option for hydroelectric power supply. The deposit, 180 km north of Ecuador’s capital of Quito, lies in

the northern section of the Andean copper belt, known for producing nearly half of the world’s copper. According to the company, Alpala has produced some of the greatest drill hole intercepts in porphyry copper-gold exploration history, such as hole 12, which returned 1,560 metres grading 0.59% copper and 0.54 gram gold per tonne, including 1,044 metres grading 0.74% copper and 0.54 gram gold per tonne. Once developed, Alpala will produce an average of 150,000 tonnes of copper, 245,000 oz. gold and 913,000 oz. silver in concentrate per year over 55 years. During the first 25 years of mining, average annual production is forecast to be 207,000 tonnes of copper, 438,000 ounces of gold and 1.4 million oz. of silver. As for the AGM, “it was really just Nick the vote was against,” the analyst said, “and there weren’t enough votes to get him out. Nick’s a successful and self-assured guy and has some great successes and some people don’t like him for that.” Over the last year in Toronto, SolGold’s shares have traded in a range of 19¢ and 72¢ per share and at presstime in Toronto were changing hands for 66¢. The junior has about 2.1 billion common shares outstanding for a market cap of about $1.4 billion. TNM

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Demand for energy metals “will be massive” Glencore CEO says EDITORIAL

EDITOR-IN-CHIEF: Trish Saywell, BA, MA, MSC (JOUR) tsaywell@northernminer.com SENIOR REPORTER: Carl A. Williams, BSC (HONOURS), MSC, PHD cwilliams@northernminer.com REPORTER: Magda Gardner, BASC (MINERAL ENG) mgardner@northernminer.com REPORTER AND PRODUCTION EDITOR: Daniel Sekulich dsekulich@northernminer.com PHOTO EDITOR AND PODCAST HOST: Adrian Pocobelli, MA (ENGL) apocobelli@northernminer.com EDITOR, DIAMONDS IN CANADA: Alisha Hiyate, BA (POLI SCI, HIST) ahiyate@northernminer.com ADVERTISING: Joe Crofts (416) 510-6816 jcrofts@northernminer.com Michael Winter (416) 510-6772 mwinter@northernminer.com SUBSCRIPTION SALES/ APPOINTMENT NOTICES/ CAREER ADS George Agelopoulos (416) 510-5104 (Toll free) 1-888-502-3456, ext. 43702 gagelopoulos@northernminer.com PRODUCTION MANAGER: Jessica Jubb (416) 510-5213 jjubb@glacierbizinfo.com CIRCULATION/CUSTOMER SERVICE: (403) 209-3505 1-800-387-2446 northernminer2@northernminer.com REPUBLISHING: (416) 510-6768 moliveira@northernminer.com ADDRESSES: Toronto Head Office: 225 Duncan Mill Road, Suite 320 Toronto, ON, M3B 3K9 (416) 510-6789 tnm@northernminer.com SUBSCRIPTION RATES: Canada: C$120.00 one year; 5% G.S.T. to CDN orders. 7% P.S.T. to BC orders 13% H.S.T. to ON, NL orders 14% H.S.T. to PEI orders 15% H.S.T. to NB, NS orders U.S.A.: US$120.00 one year Foreign: US$157.00 one year GST Registration # 809744071RT001 (ISSN 0029-3164) CANADA POST: Return undeliverable Canadian addresses to Circulation Dept. c/o The Northern Miner 225 Duncan Mill Road, Suite 320 Toronto, ON M3B 3K9 Publication Mail Agreement #40069240 Periodicals Postage Rates paid at Niagara Falls, NY, 14304. U.S. office of publication 2424 Niagara Falls Blvd, Niagara Falls, N.Y. 14304. U.S. POSTMASTER: send address corrections to: Northern Miner Box 1118 Niagara Falls, N.Y. 14304.-7118

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COMMENTARY

| Low carbon economy scenarios are bullish metals

GROUP PUBLISHER/ PUBLISHER: Anthony Vaccaro, CFA, MBA avaccaro@northernminer.com

Canadian mining can supply the metals for a clean energy future

t Glencore’s Investor Day in early December, CEO Ivan Glasenberg kicked off his presentation by talking about how the commodities giant is “steering a Paris Agreement alignment strategy while meeting the growing everyday needs for affordable and reliable energy infrastructure and transportaBY TRISH SAYWELL tion of the future.” tsaywell@northernminer.com The long-time mining executive declared Glencore is determined to meet its net zero CO2 emissions targets by 2050 and in the medium term is targeting a 40% reduction in CO2 emissions by 2035. The company, he said, is “clearly ambitious and can achieve these targets on both Scope 1, 2 and 3 CO2 emissions.” “Our model allows us to adapt to this because we have the right commodities leading to this transition of energy which is taking place in the world,” he declared. “We have got copper, we have cobalt, we have got zinc and we have nickel. We also have great assets to date in these commodities, and you will see we have long-life assets … and are at the lowest quartile cost curve in most of the commodities we produce today.” Still, Glasenberg warned that with population growth and the move toward a low carbon future with the electrification of energy supply, the world will require enormous amounts of energy metals, and directed participants on the call to look at a graphic in his slide-deck illustrating how much demand will grow for copper, nickel, cobalt, and zinc. Pointing out that the world consumes 29.6 million tonnes of copper annually, Glasenberg noted that miners will have to produce 60 million tonnes of the red metal annually by the year 2050 to meet demand. Global nickel production will have to grow from the 2.5 million tonnes consumed a year currently to 9.2 million tonnes by mid-century; while cobalt supply will have to grow from 129,000 tonnes a year to 507,000 tonnes, and zinc production will have to more than double from 13.9 million tonnes per year consumed currently to 28.8 million tonnes. “You can see demand growth for these metals is massive over the next thirty years and the mining industry is going to have to step up to the plate to produce these extra metals and that’s going to be very difficult to achieve.” Turning specifically to copper, Glasenberg noted that mining companies are also going to have to go farther afield to find it. “There’s limited shovel-ready projects around the world for new copper mines,” he said. “The world has a challenging task to meet this new demand and it’s going to have to go to new geographies, it’s going to have to go to new locations where they lack infrastructure, and you don’t have the mining expertise in those new areas.” Commodity analysts have already been forecasting copper shortages. In a Dec. 20 research note, analysts at Bank of America Merrill Lynch warned that “copper mine supply has been virtually unchanged since 2017,” and said they expect “a global copper market deficit in 2021.” The analysts noted that mine supply growth “has been low in recent years, as miners had cut back capex since 2012/2013,” and the situation has been exacerbated by slowdowns in production in major copper producing countries Chile and Peru. Copper metal for three-month delivery on the LME in mid-December reached a seven-year high at US$3.62 per lb. (US$8,000 per tonne). “Copper has in our view the strongest fundamentals going into 2021,” the BofA analysts wrote, forecasting that the metal will average US$3.44 per lb. (US$7,588 per tonne) in 2021. Nickel will average US$6.22 per lb. (US$13,704 per tonne) in 2021; zinc US$1.17 per lb. and cobalt US$15.00 per lb. Uranium, the bank forecast, is set to rise to US$34.38 per lb., while silver, used extensively in solar panels, will average US$29.13 per ounce. It also said the rare earths metals market is “set to be moving into deficit, unless higher prices incentivise new supply.” In a recent report developed by the Climate-Smart Mining Team of the World Bank’s Energy and Extractive Global Practice, the authors noted that “a low-carbon future will be very mineral intensive because clean energy technologies need more materials than fossil-fuel-based electricity generation technologies,å” and cited as an example that 3,000 solar panels needed for 1 megawatt (MW) of capacity of solar PV “means that a 200 MW solar PV project could be as big as 550 American football fields.” The report, “Minerals for Climate Action: The Mineral Intensity of the Clean Energy Transition,” also pointed out that under a 2 degree scenario, graphite, lithium, and cobalt “will need to be significantly ramped up by more than 450% by 2050—from 2018 levels—to meet demand from energy storage technologies.” In this week’s issue, the first of 2021, The Northern Miner takes a look at some of the energy metals required in a lower carbon future and at a handful of exploration and development companies that are advancing these projects (see stories on pages 9-14.) TNM

| Country is blessed with the required minerals

BY CODY BATTERSHILL Special to The Northern Miner

f leadership on climate action and environmental best practices are worthwhile pursuits, then the Canadian mining sector is an industry that’s deserving of Canada’s — and the global market’s — full support. And if a strong regulatory framework for environmental performance, growing Indigenous support and a superior record on human rights are equally important benchmarks, then our country’s mining sector is on the right track. Beyond the metals that contribute to so much of our modern world, let’s focus for the moment on electric vehicles (EVs). They’re viewed by a growing number of consumers here and abroad as an important way to help reduce greenhouse gas (GHG) emissions and improve air quality in many developing cities. Let’s also acknowledge that EVs also come with an embedded environmental footprint by virtue of the fact EV batteries require certain additional metals when compared with gas-powered vehicles. But that’s not to say EVs shouldn’t be produced. In fact, the opposite is true, and the production of these resources should be high-graded to suppliers like Canada who have the highest environmental standards. First, lifecycle comparisons of EVs and conventional gasoline vehicles have shown EVs, when powered by batteries charged with clean electricity, will offset the battery’s environmental deficit within three years through its reduced GHG emissions. Obviously, conventional gas vehicles will always emit GHGs while the vehicle is in operation, and so a similar offset never comes. Second, because of Canada’s environmental leadership in mining, I’d argue the additional footprint generated by manufacturing the EV’s battery simply means we should produce those batteries with Canadian minerals, metals and technology. Third, and perhaps most important of all, Canada is blessed with an abundance of cobalt, graphite, lithium and nickel, the minerals required to make next-generation electric batteries a reality. Naturally, the argument goes well beyond passenger vehicles. Think of trains, trucks, buses and ships, and industrial applications like excavators and earth-movers. And just less than a year ago, Vancouver’s Harbour Air, North America’s largest seaplane airline, along with magniX, the company powering the electric aviation revolution, completed the successful flight of the world’s first all-electric commercial aircraft. Sure, obstacles persist. Cold weather battery operation presents challenges, and work remains to resolve that issue. But in matters of global energy production, I normally turn to the International

COMPANY INDEX Agnico Eagle Mines . . . . . . . . . . . . . . . 5,15 Alamos Gold . . . . . . . . . . . . . . . . . . . . . . 6 American Lithium . . . . . . . . . . . . . . . . . 11 Amex Exploration . . . . . . . . . . . . . . . . 6,15 Anglo American . . . . . . . . . . . . . . . . . . 15 BeloSun Mining . . . . . . . . . . . . . . . . . . . 14 BHP. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Canada Nickel Company . . . . . . . . . . . . 9 Conic Metals . . . . . . . . . . . . . . . . . . . . . 11 Cornerstone Capital Resources . . . . . . . 3 Denison Mines . . . . . . . . . . . . . . . 11,12,14 Energy Fuels . . . . . . . . . . . . . . . . . . . . . . 10 Equinox Gold . . . . . . . . . . . . . . . . . . . . 1,16 First Cobalt . . . . . . . . . . . . . . . . . . . . . . 10 Franco-Nevada. . . . . . . . . . . . . . . . . . . . . 3

Gabriel Resources . . . . . . . . . . . . . . . . . 14 Generation Mining . . . . . . . . . . . . . . 12,13 Generic Gold . . . . . . . . . . . . . . . . . . . . . 15 Giga Metals . . . . . . . . . . . . . . . . . . . . . . 11 Global Atomic . . . . . . . . . . . . . . 8,13,14,18 Golden Queen Mining . . . . . . . . . . . . . 16 Group Ten Metals . . . . . . . . . . . . . . . . . 13 Harte Gold . . . . . . . . . . . . . . . . . . . . . . . 14 IsoEnergy . . . . . . . . . . . . . . . . . . . . . . . . 14 Kore Mining . . . . . . . . . . . . . . . . . . . . . 7,16 McEwen Mining . . . . . . . . . . . . . . . . . . 14 Millennial Lithium . . . . . . . . . . . . . . 13,14 Minerva Intelligence . . . . . . . . . . . . . . . 11 Neo Lithium . . . . . . . . . . . . . . . . . . . . . . . 9 Newcrest Mining . . . . . . . . . . . . . . . . . . . 3

Energy Agency (IEA) and its views on current and future energy challenges and opportunities. Here’s what the IEA says about the potential growth of electric vehicles. The IEA forecasts production of electric vehicles could reach 43 million units per year by 2030, with production valued at more than US$567 billion, and that by 2040 the international market for energy storage could attract US$662 billion in investments, with the lithium ion battery making up a key aspect of this development. By the end of this year, Vale Canada, a subsidiary of Brazilian mining company Vale, recently announced it expects to have more than 20 batterypowered vehicles operating in five of its Ontario mines — some of which will be supplied by Canadian electric mining vehicle manufacturer Rokion. According to the company, EVs complement Vale Canada’s efforts in terms of greenhouse gas and carbon reduction, enabling operational benefits while reducing environmental impacts. But it’s not simply Canada’s natural resources, skilled workers and commitments to innovation that will help us compete. At least as important is the growing interest among Canada’s Indigenous Peoples in both environmental stewardship and social and economic development on their lands and in their communities. This comes after generations of systemic poverty, and a relationship in need of repair. Indigenous leaders are seeking a seat at the table in order to discuss benefits that can accrue to their communities over the long term. That explains in part why Indigenous partnerships with the mining industry have become prevalent today, and will only continue to grow in future. What kinds of mining jobs exist for Indigenous and non-Indigenous community members? It runs the full gamut from geologists, metallurgists, mechanics and heavy equipment operators to carpenters, electricians, millwrights, pipefitters, boilermakers, HVAC apprentices, accountants, environmental technicians, supervisors, and power and water treatment plant operators. They’re well-paid positions, and they’re located in rural areas often where Indigenous community members live. Given the enormous strides Canadian mining has made in reducing its environmental impacts, the interest shown by Indigenous communities and mining companies in forming partnerships, and the wealth Canada has in terms of mineral and metals required for global battery technology, the future looks bright for the industry’s strong socially responsible participation in the battery supply chain. And that’s good for Canada. TNM Cody Battershill is the founder/ spokesperson for CanadaAction.ca, a volunteer-built organization that supports Canadian natural resource development and the environmental, social and economic benefits that come with it.

DEPARTMENTS Newmont . . . . . . . . . . . . . . . . . . . . . . . . . 1 NexGen Energy . . . . . . . . . . . . . . . . . . . 14 Northern Dynasty Minerals . . . . . . . . . 15 Orocobre . . . . . . . . . . . . . . . . . . . . . . . . 14 Premier Gold Mines . . . . . . . . . . . . . . . . 1 Pretium Resources . . . . . . . . . . . . . . . . . . 7 Rio Tinto . . . . . . . . . . . . . . . . . . . . . . . 2,14 Roxgold. . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Rupert Resources . . . . . . . . . . . . . . . . . 5,15 Scandium International Mining . . . . . . 11 SolGold . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Starr Peak Exploration . . . . . . . . . . . . . 15 TMAC Resources . . . . . . . . . . . . . . . . . . . 1 Turquoise Hill Resources . . . . . . . . . . . . 2

Editorial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Metal Prices . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Professional Directory. . . . . . . . . . . . 17 Stock Tables . . . . . . . . . . . . . . . . . . . . . . 20-23

GLOBAL MINING NEWS

THE NORTHERN MINER / JANUARY 4—17, 2021

THE VIEW FROM ENGLAND

Time for the mining industry to consider its gifts to the world COLUMN

| Three suggestions on what mining companies should do in the New Year

BY DR. CHRIS HINDE Special to The Northern Miner

n England, we have had festivals at this time of year since well before the Romans began their creeping conquest in AD43. The occupation of most of Britain was a done deal by AD60 following the defeat of Queen Boudica (leader of the Iceni in modern day Norfolk). Back then we were celebrating pagan festivals, either the Anglo-Saxon Mōdraniht (Night of the Mothers) or Yuletide, which was a mid-winter festival originally observed by the Germanic peoples and connected with the Norse god Odin (the latter may have influenced the association with a white-bearded figure and reindeer). Yuletide lasted from what is now mid-November until early January, but the main celebrations focused on the three nights after the Winter solstice. Christianity was brought to Europe by Constantine in the first half of the 4th century. This followed his succession as Emperor in 306 on the death of his father, Constantius, while they were both garrisoned in York (the spot where he was acclaimed by the legions is in the catacombs of York Minster). Until then, the Romans had celebrated Saturnalia at this time of the year (December 17-23) in honour of the god Saturn. The festival included banquets, the giving of gifts and extravagant parties. Emperor Constantine subsequently amalgamated the various mid-winter festivals in the empire into a celebration of the birth of Christ. Although the date of Jesus’s birth

A detail from Trajan’s Column representing Roman soldiers building a defensive wall.

was unknown, the church in the early 4th century fixed the date as December 25, which corresponded to the date of the winter solstice in the Roman calendar. The first recorded celebration in England of Christ’s birth and the name Christmas (Christ’s Mass) was not until 1038. Gift-giving at that time was more associated with Saint Nicholas of Myra (270-343), who was an early Christian bishop of Greek descent from the maritime city of Myra in Asia Minor (modern-day Demre in Turkey). His legendary habit of secret gift-giving gave rise to the traditional model of Santa Claus (a phonetic derivation of ‘Sinterklaas’, a legendary Dutch figure based on Saint Nicholas). During the early Middle Ages, the poor and children were given

gifts on Saint Nicholas’s name day, December 6. During the first half of the 16th century, however, the priest who led the Reformation in Europe, Martin Luther, propagated the moving of this gift-giving custom to Christmas, so that the focus would be on Christ, rather than on the veneration of a saint. Even earlier gifts at this time of year are associated, of course, with “wise men from the East” paying homage to the baby Jesus in Bethlehem. Their gifts had particular significance, with gold referring to Jesus’s status as ‘King of the Jews’, frankincense (an incense) represented the infant’s divinity, and myrrh (an embalming oil) suggested Jesus’s mortality. Almost 60 years ago (January 20, 1961), the 35th president of the

ISTOCK.COM/ MANAKIN

United States, John F. Kennedy, gave an inspired inaugural address and urged Americans to “Ask not what your country can do for you, ask what you can do for your country.” After a disastrous year for the mining industry (as referenced in my recent Saint Barbara column), now might be a good time for the extractive sector to consider what three things it can do for a world in need of good cheer. I have three suggestions (and feel free to offer others to The Northern Miner), centred on what metals we should be offering society, how we prove where they come from and how we conduct ourselves in their delivery. The first gift would be an acceptance that the mining industry needs to deliver more reliable access to

metals for sustainable development (not least batteries), rather than those destined for bank vaults. It shouldn’t be beyond the wit of our leaders to encourage (with politicians) the exploration and development of such metals, for example cobalt, in politically safe geographies. These metals are too important to the world to be left to the whim of metals traders and the vagaries of the market. The second gift would be urgent adoption of blockchain technology to prove from where our metals and minerals are sourced. The timing is good; on December 15, the World Economic Forum’s Mining and Metals Blockchain Initiative released what it described as “a unique proof of concept to trace emissions across the value chain using distributed ledger technology.” This initiative is a collaboration with seven global companies that aims to accelerate an industry solution for supply chain visibility and environmental, social and corporate governance (ESG) requirements. The last gift the mining industry should deliver at this festive time of year is a real commitment to ESG. We have a long way still to go in demonstrating our resolve, witness Rio Tinto’s catastrophic destruction of the Aboriginal Juukan Gorge caves in Western Australia. Our commitment needs to have teeth, and soon. TNM — Dr. Chris Hinde is a mining engineer and the director of Pick and Pen Ltd., a U.K.-based consulting firm he set up in 2018 specializing in mining industry trends. He previously worked for S&P Global Market Intelligence’s Metals and Mining division.

Rupert Resources’ Ikkari target continues to grow FINLAND BY TRISH SAYWELL

tsaywell@northernminer.com

ince 2019 Rupert Resources (TSXV: RUP) has made six discoveries at its 100%-owned Pahtavaara gold project in Finland’s Central Lapland Greenstone belt — all of them have been under 10-15 metres of glacial till and within a 5 km by 2.5 km area on the property. The junior explorer discovered them using geophysics and base of till sampling and drilling. The project, which the company acquired in 2016 for about US$2.5 million, contains the permitted Pahtavaara gold mine and mill on a 300 sq. km. land package that sits about 150 km northeast of the town of Rovaniemi and about 50 km from Agnico Eagle Mines (TSX: AEM; NYSE: AEM) Kittila gold mine. Agnico took a 9.9% stake in the junior explorer in February 2020. “The reason I joined the company is we have 20 km of the main structure and we see that whole 20 km as being very prospective,” CEO James Withall said in a telephone interview from London. “The key point is we’ve made these discoveries in just 5 km of the belt we own and the more and more work we do and understand it … it really is demonstrating that this is quite a major gold mineralizing system.” Since drilling the first four holes into the Ikkari target in June, Rupert Resources has completed 24 holes,

| Junior explorer has been seeking gold deposits of scale

“IT HAS PROVEN TO BE SPECTACULAR GRADES – QUITE EXTRAORDINARY – AND OUR KNOWLEDGE BASE CONTINUES TO GO UP AND UP.” JAMES WITHALL, CEO, RUPERT RESOURCES

and Withall says results from the flagship discovery continue to demonstrate broad widths of mineralization and the potential for highgrade. The holes have extended Ikkari’s strike length to at least 650 metres with mineralization believed to extend to a vertical depth of at least 400 metres — a 50% increase on the previous deepest intercept of 274 metres. Results from Ikkari released in mid-December included drillhole 120097, which returned 3.7 grams gold per tonne over 53 metres starting from 82 metres downhole, including 8.2 grams gold over 13 metres; 5.3 grams gold over 8 metres from 97 metres in drillhole 120102, including 27.1 grams gold over 1 metre and 102.6 grams gold over 1.6 metres; and 2.5 grams gold over 37 metres from 492 metres including 7.3 grams gold over 8 metres in drillhole 1200092 — the easternmost

Underground at Rupert Resources’ Pahtavaara mine.

step-out hole and the deepest intercept to date. “Ikkari has really filled out,” Withall said. “It has proven to be spectacular grades — quite extraordinary — and our knowledge base continues to go up and up.” In September the company announced a 50,000 metre drill program (it has completed about 15,000 metres since then) and Withall said 2021 “is all about delineating the size and scale of the discoveries we’ve already made and taking them to the resource stage and continuing with

our new generation exploration.” “Daylighting the potential value is a key part of 2021, while 2019 and 2020 have been about discoveries,” he continued. “We plan to make more discoveries in 2021 but also demonstrate what we actually have discovered. The hope is there will be one at the mine we own, an update, and certainly one in what we call Area 1, which is where the six discoveries are, and at least a first pass on one of the discoveries and potentially two.” Pahtavaara previously produced

RUPERT RESOURCES

more than 420,000 oz. gold over a 16-year period of open-pit and underground operations, and last operated in May 2014. The project has an inferred resource estimate from 2018 of 4.6 million tonnes grading 3.2 grams gold per tonne for 474,000 ounces. The resource estimate used a 1.5 gram gold cut-off grade. The potential for more discoveries in the underexplored belt has Withall and his team energized. See FINLAND /15

WWW.NORTHERNMINER.COM

JANUARY 4—17, 2021 / THE NORTHERN MINER

Amex Exploration has ten drills turning at Perron project QUEBEC

BY TRISH SAYWELL

tsaywell@northernminer.com

mex Exploration (TSXV: AMX; US-OTC: AMXEF) is on track to complete the remaining 148,000 metres of its 300,000 metre fully funded drill program in 2021 at its Perron project, 110 km north of Rouyn-Noranda in Quebec. The junior explorer has identified three gold zones along strike on the Perron gold corridor and has drilled to vertical depths of 1 km on the Chicobi Belt. It is also undertaking regional exploration over more than 15 km of prospective faults and plans to drill an average of 10,000 metres a month at a cost of about $150 per metre. “Right now we’ve got one of the biggest programs of a junior in Canada with ten drills on site,” Kelly Malcolm, Amex’s VP of Exploration said in an interview, adding that the company plans to complete a resource estimate on all three zones towards the end of 2021 or early in 2022. “I can’t think of any other junior company that has more drills on site. It’s definitely one of the most active projects across the board and for the juniors we’re probably the top dog.” Of the project’s three main zones — Eastern Gold, Grey Cat and Gratien — the Eastern Gold zone is the most prospective and contains several parallel mineralized zones including the Denise Zone and a high-grade zone, both of which are open in all directions, along strike, and at depth. Since discovering the Eastern Gold zone in December 2017, over sixty drillholes have intersected gold mineralization grading greater than 10 grams gold per tonne over variable widths. The mineralization has been traced over 350 metres laterally from near-surface to over 1.1 km vertically. Highlights released in December from the high-grade portion of the Eastern Gold Zone included 10.55 metres of 20.88 grams gold per tonne starting from 603 metres in drillhole PE-0-217, including 1.5 metres of 145 grams gold per tonne. Drillhole

| Three gold zones along strike have been identified

“I CAN’T THINK OF ANY OTHER JUNIOR COMPANY THAT HAS MORE DRILLS ON SITE.” KELLY MALCOLM, VP OF EXPLORATION, AMEX EXPLORATION

PE-20-197 returned 6.65 metres of 5.89 grams gold starting from 1,094 metres, including 0.60 metres of 31.68 grams gold. The high-grade zone is continuous and homogenous over the entire vertical extent, which is rare in highgrade gold deposits, Malcolm noted. “The major driver is the Eastern Gold zone and the high-grade zone in particular, which is a very deep, very rich structure, down to 1.1 km vertical now,” he said. “It’s not just the high-grade intercepts but also the continuity of the gold within that system that is pretty special … You can see how continuous it is and the consistency of the mineralization is something that is special and rare.” Other notable results from the high-grade zone have been 25.04 grams gold over 3.86 metres in drillhole PE-20-187 starting from 1,187.75 metres downhole; 29.44 grams gold over 8.5 metres starting at 500 metres depth in PE-20-137; and 30.98 grams gold over 8.5 metres starting from about 150 metres in drillhole PE-19-45. “It’s very continuous and oftentimes gets better as you go deeper and it’s really common for classical high-grade Abitibi-Red Lake systems,” he said. “In the Kirkland Lake region you see mines going down greater than 2 km vertically. At the Red Lake mine and in the Red Lake mining district as a whole, there are a number of mines that go down deep. Some structures go down to 3 km and have increasing grade at depth. … We know that this area can produce very significant deep deposits and our drilling is proving that currently.” See QUEBEC/ 15

Advanced Copper Gold Deposits in Central British Columbia

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• Adjacent to an existing mine and mill with limited reserves

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Amex Exploration president and CEO Victor Cantore outside the core shack at the Perron project. AMEX EXPLORATION

Alamos Gold doubles Ontario footprint with Trillium buy M&A

| $25 million deal in Ontario’s Michipicoten Greenstone Belt

BY CECILIA JAMASMIE

MINING.com

lamos Gold (TSX: AGI; NYSE: AGI) is buying Trillium Mining for $25 million (US$19.6 million) to access a 5,418-hectare land package located east of its own Island Gold deposit in Ontario, Canada. The acquisition, Alamos said, more than doubles its land position to 15,000 hectares in the Michipicoten Greenstone Belt of northern Ontario. The move would give the Torontobased company Trillium’s namesake project, which hosts the former Edwards and Cline gold mines, less than 20 km from the community of Dubreuilville. Alamos said that based on the current geological interpretation of the E1E structure which hosted its Island deposit, there was strong potential for an expansion onto the Trillium mineral tenure. “The acquisition of Trillium is consistent with our strategy of consolidating prospective land in proximity to our Island Gold mine, where we have had tremendous exploration success over the last several years,” John McCluskey, Alamos’ president and CEO said in a press release. Included within the Trillium land package is the Highland property, which is in the final year of a fiveyear option agreement. Following the exercise of the option, expected on February 26, 2021, Alamos will own 100% of the asset The miner announced in July the phase-three expansion of Island Gold to 2,000 tonnes per day, which is expected to increase output 72% to 236,000 ounces a year from 2025. The project should also reduce allin sustaining costs 30% to US$534

per ounce and double the mine life to 16 years. Total investment needed will be US$1.1 billion, including sustaining capital, with US$514 million for a shaft expansion, Alamos said at the time. The company has also announced its intention to make a normal course issuer bid (NCIB) to purchase for cancellation up to 35.1 million shares, representing 10% of its public float, over the next 12 months. Under a previous NCIB completed this year, Alamos bought and cancelled 1.1 million shares. Gold’s record run to almost US$2,000 per oz. in 2020 injected fresh cash flows and driven a surge in shares of bullion producers. Analysts believe sustained strong prices for the precious metal will test industry actors’ discipline. Most gold miners embarked on a spending spree about a decade ago, when bullion was soaring, but then paid for it when prices nosedived. Kerry Smith of Haywood Securities noted the tuck-in acquisition of Trillium boosts Alamos Gold’s land package by 57% and commented favorably on the deal in a research note to clients. “This is a small acquisition of a strategic land package around one of the highest grade mines in Canada,” he wrote. “Alamos is uniquely positioned to deliver full value from this land package given they have the best understanding of the structural and regional controls for gold mineralization in the district. We think this is a reasonably priced deal that will deliver results, albeit over a longer period as it will take time to properly and systematically explore this large land package.” Smith has a buy rating on Alamos and a price target of $17.50 per share.

(Over the last year the company has traded in a range of $4.43 and $15.52 per share and at presstime was trading at $12.50 per share.) “The Island gold mine has delivered considerable exploration success since it was acquired by Alamos in November 2017, with reserves more than doubling to 3.7 Moz and the ongoing Phase III expansion marks the third expansion since acquisition,” he noted. “The acquisition of an adjacent land package will ensure Alamos maintains full ownership of continued future growth of the deposit, as well as regional targets.” Analysts at Canaccord Genuity also have a target price on Alamos shares of $17.50. “Alamos believes there is strong potential for the structure to extend onto the Trillium mineral tenure and this is further supported by recent drilling, including the best surface exploration hole to date, MH25-04 grading 29.0 g/t gold over 21.8 metres and MH25-03 which intercepted 15.4 g/t gold [over] 15 metres (previously reported),” the Cannacord team wrote. “These intercepts extended high-grade gold mineralization over significantly greater widths up to 100 metres down-plunge from the nearest inferred mineral resource block in Island East, which remains open laterally and down plunge.” “To Alamos, the Trillium land package also provides significant regional exploration potential, adding 10 km of strike extent within the Goudreau Lake Deformation Zone (GLDF), a primary control on gold mineralization within the Goudreau-Lochalsh segment of the Michipicoten Greenstone Belt.” TNM This article first appeared in MINING. com, part of Glacier Resource Innovation Group

G LOBAL M I N I N G

N EW S

THE NORTHERN MINER / JANUARY 4—17, 2021

Kore’s Imperial gold project in California.

KORE MINING

Kore Mining’s ‘portfolio strategy’ has paid off, says CEO Scott Trebilcock TNM WEBINAR

BY CARL A. WILLIAMS cwilliams@northernminer.com

t’s been a busy year for Kore Mining (TSXV: KORE; USOTC: KOREF). The junior exploration and development company has completed preliminary economic assessments for two gold deposits and advanced its exploration-stage projects. “The company has truly pursued a ‘portfolio strategy’ this year,” Scott Trebilcock, Kore’s president and CEO, said during The Northern Miner’s inaugural global investor

| Company takes part in The Northern Miner’s inaugural global investor webinar webinar in mid-December. Over 70 participants from as far afield as Italy, Nigeria, and Saudi Arabia joined the webinar to hear Anthony Vaccaro, The Northern Miner’s group publisher, in conversation with Trebilcock about the company’s gold assets. These include the Imperial and Long Valley gold deposits in California and the Gold Creek and FG gold projects in B.C., which are all 100%-owned by Kore. “What’s important to note about Kore is that it has a portfolio of assets, meaning that we don’t have just

one flagship project and some other little projects we have sitting in the background, but are working hard to create value generation from all of our assets,” he said. The company holds combined resources of 4.9 million oz. gold and has “line-of-sight of 250,000 ounces of gold” should both its Imperial and Long Valley gold projects advance to development, he said. Kore has also raised over $8.5 million through three private placements with billionaire mining investor Eric Sprott, $7 million of which

will be used to fund exploration activities in 2021, Trebilcock said. “The decision to stick with one investor rather than opening up the company to a broader group of potential shareholders was predicated on the philosophy of our founder and executive chairman, and secondlargest shareholder, James Hynes,” he explained. “Jim advocated keeping the shareholder register tight in 2020, which ensured close alignment between management and shareholders, and has worked out very well for us as

we seek to achieve a higher valuation for our stock before looking to the markets to raise further capital.” Sprott holds a 26% stake in the company, with management and board owning 38%, and public investors 36%, Trebilcock said. Over time, however, Kore will reduce management’s share, he said, noting that some of the larger institutional investors will likely want to see a different governance balance. In April 2020, the company released a PEA for Imperial that enSee TNM WEBINAR/ 16

Pretium makes new discovery around Brucejack BRITISH COLUMBIA

| Gold miner releases results of 2020 exploration program

BY CANADIAN MINING JOURNAL STAFF

retium Resources’ (TSX: PVG; NYSE: PVG) 25,350-metre 2020 exploration program has led to the discovery of a new zone of epithermal-style gold mineralization, the Hanging Glacier zone. The gold producer has released the results of its 2020 grassroots exploration program completed within the 1,200-sq.-km land package around the Brucejack underground mine. The Hanging Glacier zone is made up of two areas – North Hanging Glacier and South Hanging Glacier – which are approximately 4 km northwest of Brucejack. The two zones are defined by anomalous gold-in-soil values, which cover an area of 1.5 km by 1 km. Drill highlights from North Hanging Glacier included the 2020 discovery hole, which hit 101 metres of 1.3 grams gold per tonne; and 102 metres of 2.1 grams gold per tonne in a 100-metre step-out to the northwest. South Hanging Glacier returned broad sections of low-grade gold; notable intercepts included 1 metre of 8.97 grams gold per tonne and 5,150 grams silver per tonne; and 295.4 metres of 0.51 gram gold, which included a 6-metre section of 4.93 grams gold. “This exciting discovery at Hanging Glacier, only four kilometers from the Brucejack mine, shows the districtscale potential at Brucejack,” Jacques

Left: Pretium Resources’ Brucejack mine in British Columbia. PRETIUM RESOURCES Above: Workers at Pretium Resources’ Brucejack in British Columbia. PRETIUM RESOURCES

“WE WILL SIGNIFICANTLY INCREASE OUR RESOURCE EXPANSION AND EXPLORATION EFFORTS IN 2021.” JACQUES PERRON, PRESIDENT AND CEO, PRETIUM

Perron, Pretium’s president and CEO, said in a news release. “We will significantly increase our resource expansion and exploration efforts in 2021 so we can surface value by extending mineral resources and pursuing the prospects for additional gold mineralization immediately surrounding the Brucejack mine.” This year, the company also completed additional exploration at the A6 anomaly zone, 14 km northwest of Brucejack, at the

Koopa zone, 30 km east-southeast of Brucejack, and at the Haimila zone, 23 km southeast of Brucejack. At A6, 19 drillholes continued to define a hydrothermal system; the 2020 drilling at Koopa tested deeper parts of the epithermal system; at Haimila, the drilling tested a zone of porphyry-style alteration. Next year, Pretium expects to complete both a 195,000-metre definition and expansion program adjacent to Brucejack, and a near-

mine exploration program, which will focus on Hanging Glacier. A 10,000-metre surface program is scheduled to define gold corridors and test for higher-grade veins and an additional 8,000 metres is allocated towards a four-km trend of altered rocks which outcrop from the Hanging Glacier zone. This year, Brucejack is expected to produce 325,000 to 365,000 oz. of gold, at all-in sustaining costs of US$960 to US$1,120 per oz. sold. The mine is in northwestern B.C., 65 km north of Stewart. TNM — This article first appeared in the Canadian Mining Journal, part of Glacier Resource Innovation Group

JANUARY 4—17, 2021 / THE NORTHERN MINER

W . N OR TH ER N M I N ER . COM

Roxgold receives mining permit approval for Seguela GOLD

| Company also releases updated resource estimate

BY CARL A. WILLIAMS & MAGDA GARDNER

ote d’Ivoire’s Council of Ministers has granted Roxgold (TSX: ROXG; US-OTC: ROGFF) a mining permit that allows the company to develop and operate its Seguela gold project, 240 km northwest of the capital, Yamoussoukro. John Dorward, Roxgold’s president and CEO, said the permit is a significant milestone. “It has been an exceptional year in progressing Seguela having grown the total mineral resources to over a million ounces, announcing maiden resources at Koula, Ancien, Agouti and Boulder, completing a preliminary economic assessment, and culminating in the environmental and exploitation permit approvals,” Dorward stated in a press release. The permit is valid for ten years and there is potential to renew the license as Roxgold grows and expands the project. The company has already begun initial work at the project, including upgrades to the access road, building accommodation for workers, and has also started engineering designs for the processing plant. “In addition to the positive impact Seguela will have on the surrounding communities, the project has the potential to more than double our

Drilling at Roxgold’s Seguela gold project in Cote d’Ivoire.

production for shareholders within a short time frame and without the need for additional equity,” Dorward stated. “The confirmation of the permit and the start of early works is a major accomplishment towards achieving our goal of becoming West Africa’s next multi-asset producer.” In other news, the company also released its latest resource update for Seguela in mid-December. The resource estimate for the project has increased total ounces, grown total indicated resources by 97%, and features an initial inferred resource for the Koula deposit.

ROXGOLD

Indicated resources across the Antenna, Ancien, Agouti, and Boulder deposits now total 12.78 million tonnes grading 2.5 grams gold per tonne for 1 million oz. contained gold. This represents a 97% increase in the contained ounces when compared with the April 2020 estimate, which defined 7.1 million indicated tonnes grading 2.3 grams gold per tonne for 529,000 oz. of gold. Inferred resources at the four deposits above, plus the Koula deposit 1 km east of Antenna, host 2.4 million tonnes grading 4.8 grams gold for 370,000 oz. of gold. This

compares with 5.4 million inferred tonnes grading 2.9 grams gold for 508,000 oz. of gold previously. This 27% ounce decrease reflects the conversion of prior inferred resources to the indicated category. The latest resource numbers are constrained by preliminary pits and are based on cut-off grades between 0.3 gram gold per tonne and 0.5 gram gold per tonne. Since the April 2020 update, Roxgold has drilled an additional 56,600 metres (this includes both reverse circulation and diamond core work). “It has been an exceptional year at Seguela as we have continued to demonstrate the potential for the project to grow in quality and scale,” Dorward said. “The significant increase in indicated mineral resources to over one million ounces provides the foundation for a robust feasibility study which will also include the very high grade Koula deposit with a maiden inferred resource of 281,000 ounces at a remarkable 8.1 grams per tonne giving it the potential to be one of the highest grade open pits in west Africa.” There are four rigs working at Koula completing infill and exploration work. In April 2020, a preliminary economic assessment for Seguela envisioned an open-pit operation with a mine life of eight years, producing an average of 103,000 oz. of gold

per year at all-in sustaining costs of US$749 per ounce. Initial capex was pegged at US$142 million and the study estimated an after-tax payback of just over two years. The PEA, which used a gold price of US$1,450 per oz., forecast an after-tax net present value of US$268 million, at a 5% discount rate, with an after-tax internal rate of return of 66%. The study assumed mining of the Antenna, Ancien, Boulder and Agouti deposits. According to Dorward, Roxgold expects to release the results of the Seguela feasibility study in the first half of 2021, which would be followed by a construction decision ahead of a potential first gold pour in 2022. “We continue to believe we have only begun to tap the ultimate potential of the Seguela project and are eager to continue to uncover and test the wealth of additional targets present on the property,” Dorward said. Roxgold also owns and operates the Yaramoko mine complex in Burkina Faso, which is expected to produce 120,000 to 130,000 oz. of gold in 2020. In a research note on Dec. 16, Raymond James analysts Craig Stanley and William Haynes have a target price of $2.40 per share. At presstime the company was trading at $1.70 per share. TNM

The father, the son and the holy atom PEOPLE IN MINING BY STAN SUDOL

“I

Special to The Northern Miner

L EST MORT! He is dead!” At least that was the verdict of five French doctors who were on their way to a medical convention on the Paris to London Eurostar train in 2014, when they briefly examined “the body” of Stephen G. Roman, Global Atomic’s (TSX: GLO; US-OTC: GATF) founder, chairman and CEO. “I was on my way to meetings in London after visiting our uranium properties in the Republic of Niger, West Africa, just north of Ghana,” Roman recounts. “I had not been feeling very well after I ate a meal before our roughly five-hour plane flight from Niamey to Paris, but I thought I would persevere. Just after being served dinner on the Eurostar, I violently vomited and passed out falling to the floor of the train.” Luckily, on further examination, a nurse found his pulse and both Roman and George Flach, Global Atomic’s vice president of exploration, were evacuated from the train at Lille, France via ambulance, and brought to a local hospital with all their luggage, where after a day of intensive antibiotic treatment for a highly contagious and virulent intestinal bacteria, Roman finally started to recover. Quickly kicked out of the hospital in the pouring rain and feeling a bit unsteady, Roman and a still healthy Flach spent a night in a local hotel and finally got to London the following day and continued with their investor meetings. It wasn’t Roman’s first brush with mortality. He almost died in 2007 from cerebral malaria — the deadliest form of the mosquito-born affliction — which he contracted from

Global Atomic founder, chairman and CEO Stephen G. Roman in Niger. GLOBAL ATOMIC

| The legacy of the Romans

a near-empty swimming pool filled with the disease-carrying insects, at his hotel in Agadez, Niger, just south of the company’s uranium properties. He had to spend almost six months recovering from that ordeal once he got back to Canada. Needless to say, no one can doubt Roman’s almost “Indiana Jones” commitment to his shareholders and his focus on the prize: one of the largest, highest grade uranium deposits in Africa and potentially one of the world’s lowest-cost producers amongst the current crop of junior uranium explorers. Not only is Global Atomic’s Dasa project the latest of a string of significant mineral discoveries and mine developments that Roman has been involved with, but it also takes him back to his family roots. The easy going and friendly Roman is considered “mining royalty” among many in Toronto’s tightly

knit junior exploration community. His father, Stephen B. Roman, was the legendary and tough “Uranium King” who founded Denison Mines Ltd. and basically built the town of Elliot Lake in northern Ontario during the uranium boom of the 1950s. At the age of five his father took him underground at the Denison mine. Roman remembers: “I went underground at Number 1 Shaft with my father and the then mine manager, John Kostuik, who eventually became president of Denison. I was wearing shorts and big mucker boots and fell and cut my knee. Mr. Kostuik picked me up and I piggybacked around underground on his back for the rest of the tour. When we came up the shaft to surface I went to sick bay to get the wound dressed. Very exciting.” Over a three-year period when he was in university, he worked underground during off semesters, need-

Stephen G. Roman (left), with his father Stephen B. Roman (centre), two younger brothers and employees at Denison’s Elliot Lake uranium mine in the early 1970s. DENISON MINES

ing to first go through the Denison School Stope Mining Program and graduating as a hard rock miner. “I worked with a partner on a regular production beat,” Roman recalls. “I was trained on jacklegs, stopers and slushers, which were used at Denison since the orebody was fairly flat lying. This type of mining isn’t done much anymore because it is too difficult and people won’t do it. The drill/ stopper, etcetera, is very heavy and the places I worked were the most difficult parts of the mine where mechanised machinery couldn’t go.” During Roman’s early childhood, the Elliot Lake camp was the richest source of uranium, one of the most sought after and globally strategic minerals in the world at that time. Cold War Nuclear Arms Race Needed Uranium The deployment of Atomic bombs on the Japanese cities of Hiroshima and Nagasaki by the Americans in 1945 effectively ended the Second World War. But in 1949, the U.S.S.R. exploded its own atomic weapon, shocking the Americans and starting the Cold War. With the U.S. developing a more powerful hydrogen bomb in 1952 and the Soviets detonating their own a year later, the nuclear arms race was in full swing and the key ingredient both countries were desperately trying to find was uranium. The discovery of the largest uranium deposits in the world at that time and the development of the Elliot Lake camp basically can be attributed to four key people: Franc Joubin, Joseph Hirshhorn, Arthur Stollery and Stephen B. Roman. Prospector and geologist Franc Joubin was the See PEOPLE IN MINING / 14

SPECIAL FOCUS

ENERGY METALS Canada Nickel signs unique agreement with First Nation at Crawford project NICKEL-COBALT

| Deal to see development of electrical power grid

BY TRISH SAYWELL

tsaywell@northernminer.com

anada Nickel Company (TSXV: CNC; US-OTC: CNIKF) is partnering with the Taykwa Tagamou First Nation to develop electric power for its Crawford nickel-cobalt sulphide project in Ontario’s TimminsCochrane mining camp. Under a memorandum of understanding (MOU), the Taykwa Tagamou Nation (TTN) will develop the electrical transmission assets to supply Crawford with reliable power and the junior exploration company will then rent the assets from TTN over the life of the mine or for a 20-year period, whichever comes first. TTN has already arranged access to the capital needed for the power project, which Mark Selby, Canada Nickel’s president and CEO, estimates will cost somewhere in the range of tens of millions of dollars up to about $100 million, depending on the results of engineering studies. “TTN threw this idea on the table and it makes complete sense,” Selby said in an interview. “Basically it allows them to build a business that goes well beyond and after the mining project is gone. The fact that they’re willing to put their capital to work is a massive benefit to this project.” Selby said Canada Nickel will rent the assets “on fair market terms — we’re not going to be paying extra and they’re not subsidizing us.” “They are trying to protect and enhance the value they get for their land,” he said, “and when you enter into that sort of spirit right out of the gate, it allows these very constructive ideas to come forward.” “This MOU is a starting point for our community to have a seat at the table and have an equity stake in the project,” Bruce Archibald, TTN’s chief, told The Northern Miner via email. “We are ready and able to invest capital where there is attractive investment opportunities. By developing the necessary transmission to serve Canada Nickel, we advance our transmission business.” Indeed this won’t be the first time the First Nation has developed power generation assets. “They have other power businesses, and that’s a key focus for them going forward,” Selby said. In 2017, TTN, through its subsidiary Coral Rapids Power, co-invested with Ontario Power Generation in the 28 megawatt, Peter Sutherland Sr. Generating Station, and has been an advocate with the Independent System Operator (IESO) for upgrading and expanding the energy transmission network on their traditional lands. It has also partnered on other facilities including the Yellow Falls Hydroelectric Generating Station and the Cochrane Solar Farm, in

A worker at Neo Lithium’s Tres Quebradas (3Q) lithium brine project in Argentina. NEO LITHIUM

Neo Lithium closes equity investment from CATL LITHIUM Aerial image of Canada Nickel Company’s Crawford project.

CANADA NICKEL COMPANY

“THIS MOU IS A STARTING POINT FOR OUR COMMUNITY TO HAVE A SEAT AT THE TABLE AND HAVE AN EQUITY STAKE IN THE PROJECT.” CHIEF BRUCE ARCHIBALD, TAYKWA TAGAMOU NATION

addition to the construction of the Detour mine’s transmission line. Archibald noted that the fair market rental rate for Canada Nickel will be based on the recovery of construction, operation and maintenance costs “plus a small margin for the risk.” “The location of the connection point will have a lot influence on those costs,” the chief explained. “That connection point will be determined through the regulatory process. We will have more clarity when we start the permitting in early 2021.” Canada Nickel has also signed an MOU with the Matachewan and Mattagami First Nations in relation to exploration and development operations at Crawford. The MOU — announced two days before the TTN agreement — underscores Canada Nickel’s commitment to engage in “ongoing consultation and establish a mutually beneficial cooperative and productive relationship with the First Nations located in the project area,” which could include business opportunities, employment and training and financial compensation and consultation, the company said. “The First Nations groups in Timmins know the benefit of working with mining companies,” Selby said, “and the fact that they’re willing to take the relations to the next level is tremendous.” Greg Rickford, Ontario’s Minister of Energy, Northern Development and Mines, and Minister of Indigenous Affairs, congratulated the company on the agreement and government support is vital, Selby said. “You don’t see very many ministerial comments of support for an exploration project,” he said. “The fact that we’re an exploration stage asset, the fact that we’re willing to work constructively with First Nations, and the fact that we’re going to be targeting net zero carbon emissions and products for the EV

market, already helps get the government support.” The company plans to complete a preliminary economic assessment of Crawford shortly, and expects to finish a feasibility study on Crawford and produce a net zero carbon nickel-cobalt product and a net zero carbon iron product on a pilot plant scale before the end of 2021. It also plans to drill more than 20,000 metres at Crawford during the first six months of 2021. “Mark Selby is a progressive thinker and a true business player that recognizes the Inherent and Treaty Rights of our community,” Chief Archibald said. “Mark and his team have been engaged with our economic development team and are open in hearing our ideas for participation.” TNM

| Focus is on developing projects in Argentina

BY MINING.COM STAFF

eo Lithium (TSXV: NLC; US-OTC: NTTHF) announced it has closed a strategic equity investment by EV battery maker Contemporary Amperex Technology Co. Ltd (CATL). CATL, which supplies lithium iron phosphate batteries to Tesla, announced in September 2020 that it would make a sizeable investment in Neo Lithium and help the company develop its lithium projects in South America. As previously planned, CATL has subscribed for over 10.21 million Neo Lithium common shares at a price of $0.84 per share for gross proceeds to Neo Lithium of $8.58 million. These shares represent approximately 8% of Neo Lithium’s issued and outstanding shares, making CATL the company’s thirdlargest shareholder. “The closing of the CATL strategic investment validates the quality of our 3Q project and the capabilities of our management team. It further strengthens our long-term commitment and focus on our project as we work together with CATL to

bring 3Q into full development by building a comprehensive financing plan,” Neo Lithium’s chairman Constantine Karayannopoulos stated in a news release. With the proceeds of the equity investment from CATL, the company now has a net cash position of approximately $35 million. The 3Q project is located in Argentina’s Catamarca province, the largest lithium producing area in the nation. The property covers approximately 35,000 hectares including a salar complex of approximately 16,000 hectares. According to a 2019 preliminary feasibility study, the project contains an estimated 1.3 million tonnes of lithium carbonate equivalent (LCE) in proven and probable reserves. The PFS also outlined an after-tax net present value of over US$1.1 billion and an IRR of 50%. In March, Neo Lithium announced that it has produced battery-grade lithium carbonate at its pilot plant in Fiambalá, the closest population centre to the project. TNM This article first appeared in MINING.com, part of Glacier Resource Innovation Group

FIT-FOR-PURPOSE SOLUTIONS Our fit-for-purpose solutions encompass the skills of qualified geologists, geostaticians, analytical chemists, mineralogists, metallurgists, process engineers and mining engineers brought together to provide accurate and timely mineral and process evaluation services across the entire mining life cycle. SGS IS THE WORLD’S LEADING INSPECTION, VERIFICATION, TESTING AND CERTIFICATION COMPANY

WWW.SGS.COM/MINING CA.MINERALS@SGS.COM

SPECIAL FOCUS ENERGY METALS

JANUARY 4—17, 2021 / THE NORTHERN MINER

W . N OR TH ER N M I N ER . COM

First Cobalt receives $10 million government boost for its refinery COBALT

| Funding comes from both federal and provincial levels

BY CARL A. WILLIAMS

cwilliams@northernminer.com

irst Cobalt (TSXV: FCC; USOTC: FTSSF) has secured $10 million in government funding that will allow it to accelerate the development of its cobalt refinery in Ontario, 600 km from the U.S. border. Under the funding arrangement, the Canadian federal government has agreed to provide a $5 million interest-free loan to the company, while the government of Ontario will give a $5 million non-repayable grant. “I can’t say enough about the level of support that has been provided to us, with 100% of the proceeds to be put into the expansion and commissioning of the refinery,” Trent Mell, First Cobalt’s president and CEO, said in an interview. First Cobalt is in discussions with a “small group of lenders” to raise the additional $67 million needed for the $77 million project. “For our lenders, the government funding sent to two clear messages,” Mell said. “Firstly, it brings down the quantum of money required and secondly, it sends a strong signal that the government believes in First Cobalt and that there is now a de-risking of the asset in the eyes of the financial and capital markets.” The government funding, Mell said, is part of a strategy by the federal and provincial governments to “jump into the electric vehicle revolution and to shore up supply chains.” In December, the federal government unveiled a $3 billion innovation fund to support clean technology

“OUR COBALT FEED MATERIAL WILL BE CERTIFIED AS ETHICALLY SOURCED, AND WE ARE ALSO AIMING TO BUILD THE GREENEST COBALT REFINERY IN THE WORLD.” TRENT MELL, PRESIDENT AND CEO, FIRST COBALT

development and a supply chain for electric vehicle (EV) batteries, while in October both the federal and provincial governments agreed to support a $1.8 million overhaul of Ford Motor’s assembly plant in Oakville to make EVs. Cobalt is crucial for the lithiumion batteries used in EVs, where it boosts the battery’s energy density and extends its life. It also has a stabilising effect and prevents corrosion of the cathode, which can

cause a battery fire. “Global demand for cobalt is increasing as EVs become more widely adopted,” Mell said. “If you take Europe as a template, this year has exceeded all expectations with EV sales up over 100% while conventional passenger vehicle sales are down 20-25%.” First Cobalt’s refinery would be the only source of domestic cobalt for the North American EV industry, he said, and would also be well-

First Cobalt’s refinery in northern Ontario. FIRST COBALT

positioned to support the European market. The plant would reduce North America’s reliance on Chinese refineries, which currently supply around 80% of the world’s cobalt. Once complete, the facility will be capable of producing 25,000 tonnes of battery-grade cobalt sulphate annually, representing 5% of the global market for refined cobalt, Mell said. First Cobalt plans to secure cobalt hydroxide, a feed material for the refinery, through a long-term purchase agreement with Glencore (LSE: GLEN), which owns cobalt assets in the Democratic Republic of Congo (DRC). The DRC dominates global cobalt production. However, the country

Energy Fuels’ White Mesa uranium mill in southeastern Utah.

has been beset by claims of illegal mining, corruption, and the use of child labour. “You need to distinguish between the small-scale and artisanal miners, where these abuses have been taking place, and commercial operations like Glencore that don’t use child labour,” Mell said. “I’m not averse to artisanal mining in developing countries, but there’s a way to do it well, and there’s a way to do it that is unacceptable.” In August, Glencore joined the Fair Cobalt Alliance, which aims to eliminate child and forced labour in the DRC’s artisanal and small-scale mining sector. The initiative is also supported by Tesla, the world’s largest EV manufacturer. “Our cobalt feed material will be certified as ethically sourced, and we are also aiming to build the greenest cobalt refinery in the world,” Mell said. “Initial estimates indicate that it will generate around half of the carbon emissions compared with benchmark peers.” He said the feedstock agreement would be finalised in January 2021 and financing locked down towards the end of the first quarter 2021. The company aims to start constructing the refinery in June 2021 and will take around 18 months to complete, with the first cobalt production forecast for the second half of 2022. At press time in Toronto, First Cobalt was trading at 30¢ per share within a 52-week trading range of 7.5¢ and 38.5¢. The company has around 387 million common shares outstanding for a $116.2 million market capitalization. TNM

ENERGY FUELS

Energy Fuels set to become rare earth producer in 2021 REE

BY MINING.COM STAFF

nergy Fuels (TSX: EFR; NYSE: UUUU) has entered into a three-year supply agreement with the Chemours Company to acquire a minimum of 2,500 tons per year of natural monazite sands, one of the highest-grade rare earth element (REE) minerals in the world. The company expects to process this monazite at its 100%-owned White Mesa mill starting in the first quarter of 2021, recover the contained uranium, and produce a marketable mixed REE carbonate.

| Company securing U.S. supplies of monazite sands

Upon a successful ramp-up of the program, Energy Fuels will be the first company in the United States for several years to produce a marketable mixed REE concentrate ready for separation on a commercial scale. “We estimate that the amount of REEs contained in the monazite sands to be supplied by Chemours will equal close to 10% of total current U.S. REE demand,” the company said in a press release. REEs are the building blocks of a wide array of clean energy and advanced technologies, including wind turbines, electric vehicles, cell

phones, computers, flat panel displays, advanced optics, catalysts, medicine, and national defense applications. Monazite also contains significant recoverable quantities of uranium, which fuels the production of carbon-free electricity using nuclear technology. “With our announcement today, southeast Utah is fast becoming America’s clean energy and critical minerals hub,” Mark Chalmers, Energy Fuels’ president and CEO, said in the statement. “Currently, the U.S. imports nearly all of our rare earth, uranium and

vanadium requirements, despite having ample supplies here in the U.S. Importantly, in the United States we are highly regulated and operate to the highest standards, which means we produce these minerals more responsibly than many of the countries from which we currently import.” The monazite sands will be from Chemours’ Offerman mineral sand plant in Georgia. The company is also in discussions with other entities to acquire additional supplies of monazite and is working with the U.S. Department of Energy to evaluate the potential

to process other types of REE and uranium bearing ores at the White Mesa mill produced from coal-based resources. The company has a goal to process more than 15,000 tons of monazite and other sources of ore per year for the recovery of REEs and uranium. Energy Fuels expects to sell some or all of its mixed REE carbonate to buyers in Europe and/or Asia until a REE separation facility is established in the U.S. TNM This article first appeared in MINING. com, part of Glacier Resource Innovation Group

SPECIAL FOCUS ENERGY METALS

GLOBAL MINING NEWS

THE NORTHERN MINER / JANUARY 4—17, 2021

ENERGY METALS SNAPSHOT:

EIGHT COMPANIES ADVANCING ASSETS FOR A GREENER FUTURE BY MAGDA GARDNER mgardner@canadianminingjournal.com

Amid growing eﬀorts to move the world away from fossil fuels, energy metals are a key pathway to tackling climate change and transition towards a low-carbon future. Here’s a list of companies focused on ﬁnding metals important for future technologies. AMERICAN LITHIUM American Lithium (TSXV: LI; OTC: LIACF) wholly owns the 24.3-sq.-km Tonopah Lithium Claims in Nevada, halfway between Las Vegas and Reno and 12 km from Tonopah. The site includes a sedimentary lithium deposit. In April, the company released an initial pit-constrained resource estimate for TLC. Measured and indicated resources at the site total 1.1 billion tonnes grading 912 parts per million (ppm) lithium, which contain 5.4 million tonnes of lithium carbonate with additional inferred resources of 362 million tonnes also at 912 ppm lithium, for a further 1.8 million tonnes of lithium carbonate. The resource remains open to the north and west. In July, the company added 52 claims, or 4 sq. km, to the property. According to American Lithium, all of the resources on the TLC property appear to be “mineable with a favourable stripping ratio.” The zone of lithium mineralization at TLC extends for “kilometers” laterally and is up to 80 metres thick. Since the TLC deposit is an alluvial formation, the lithium is “weakly” bound with the surrounding clays, which would allow it to be converted to batterygrade lithium carbonate within hours. The junior is now working on a preliminary economic assessment for the project, which is expected in the first half of 2021. In November, American Lithium started a third-phase drill campaign to expand current resources and obtain material for hydrometallurgical and thermal process testing and validation. In September, the company announced that it had produced lithium carbonate from TLC in a lab setting. This marked the start of a testing program, to generate the information required to design and build a continuously operating pilot plant. American Lithium has a $128.8 million market capitalization. n

CONIC METALS Conic Metals’ (TSXV: NKL) principal asset is an 8.56% joint venture interest in the Ramu nickel-cobalt operation in Papua New Guinea. The company also holds a portfolio of investments with exposure to nickel and cobalt through various royalties — Conic’s royalty portfolio includes 11 pre-production projects in Canada and Australia. The Ramu open pit nickel-cobalt mine and high pressure acid leach plant have been operating since 2012. Conic acquired a stake in the large-scale mine through a US$68 million 2019 acquisition of Highlands Pacific, an Australian comn

The pilot plant under construction at Millennial Lithium’s Pastos Grandes, with evaporation ponds in the background.

MILLENNIAL LITHIUM

In November, Denison announced plans to restart a formal Environmental Assessment (EA) process for its flagship, 90%-owned Wheeler River project, 35 km northeast of its 22.5%-owned McClean Lake mill, in January 2021. The company decided to temporarily suspend the EA process in March 2020 due to the Covid19 pandemic. According to David Cates, Denison’s president and CEO, Wheeler River would be Canada’s first in-situ recovery (ISR) uranium mine. Wheeler River includes two high-grade uranium deposits:

Phoenix and Gryphon. Probable reserves across the two total 109.4 million lb. uranium oxide. Phoenix features 141,000 tonnes, at 19.1% uranium oxide, for a total of 59.7 million lb. uranium oxide. A September 2018 prefeasibility study outlined a 10-year ISR operation at Phoenix with underground mining planned for Gryphon. With upfront capital costs of $322.5 million estimated for Phoenix, this deposit would generate an average of six million lb. U3O8 annually at all-in costs of See SNAPSHOT / 12

Top: Denison Mines’ Wheeler River project in Saskatchewan. DENISON MINES Above: Stacks of drill core boxes at Denison Mines’ Wheeler River project. DENISON MINES

pany. With a current mine life of 14 years, Conic expects to start receiving 35% of its share of cash flows from the asset starting in 2022. Once its share of Ramu construction and development loans are repaid, Conic’s share in the Ramu joint venture will increase to 11.3% and the company will receive 100% of its attributable cash flows from the mine. Metallurgical Corp. of China is Ramu’s majority owner and is also the project operator. The Canadian royalties include a 1.75% net smelter return (NSR) royalty on the construction-ready Dumont nickel-cobalt project, held by Waterton Global Resource Management and a 2% NSR on Giga Metals’ (TSXV: GIGA) Turnagain nickel-cobalt project in B.C. The junior holds two additional NSR royalties in B.C. and

the Yukon, as well as four additional NSR holdings in Ontario. In Australia, Conic has royalties on two pre-production nickel-cobalt assets. The construction-ready Nyngan nickel-cobalt-scandium project, where Conic holds a 1.7% gross revenue royalty, is fully permitted and held by U.S.-based Scandium International Mining (TSX: SCY). The company also has a 2.2% interest in Minerva Intelligence (TSXV: MVAI), an artificial intelligence software company. Conic Metals has a $33.4 million market capitalization. DENISON MINES Denison Mines (TSX: DML; NYSE-AM: DNN) is a uranium explorer and developer with assets in Canada’s Athabasca Basin. n

Mining Permit granted for the Tier 1 Dasa Uranium Project, backed by cash flow from zinc recycling • Phase 1 Dasa Mine Plan focused on twelve year, high grade, underground mine as the gateway to a larger mine development • May 2020 PEA for Dasa, estimates an NPV8 of US$211M using a US$35/lb uranium price • Phase 1 PEA targets initial 44Mlbs U3O8 with Capex of US$203M giving an all-in-sustaining cost (ASIC) of US$18.39/lb • Potential to reduce start-up capital with Direct Shipping Ore based on 2017 MOU with Orano Mining • Mining Permit granted by the Republic of Niger, December 23, 2020

TSX: GLO | USA OTCQX: GLATF | Frankfurt: G12

www.globalatomiccorp.com

JANUARY 4—17, 2021 / THE NORTHERN MINER

SPECIAL FOCUS ENERGY METALS

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SNAPSHOT From 9

US$8.90 per pound. A potential second underground operation at Gryphon could extend the mine life to 14 years. The Phoenix development would deliver a pre-tax net present value estimated at $930.4 million, at an 8% discount rate, with a 43.3% internal rate of return, based on uranium spot prices between US$29 and US$45 per lb. Also in November, the company released the results of a preliminary economic assessment for the 66.71%-held Waterbury Lake property in northern Saskatchewan. The study examined a potential “small-scale” in-situ recovery uranium project at the Heldeth Túé deposit, with processing at the McClean Lake mill. With an estimated six-year mine life, this operation would generate an average of 1.6 million lb. of uranium oxide annually, at average cash operating costs of US$12.23 per lb. at an initial capital cost of $112 million. This proposed development has an after-tax net present value estimated at $72 million, at an 8% discount rate, with a 30.4% internal rate of return. In October, Denison closed a $19 million public offering of common shares. The proceeds are intended for evaluation and environmental assessment work at Wheeler River, and for corporate purposes. The company’s 22.5%-held McClean Lake uranium project includes a plant licensed for production of 24 million lb. U3O8 annually. The McClean Lake mill processes ore from the Camecooperated Cigar Lake mine under a toll milling agreement. Denison Mines has a $508.3 million market capitalization. GENERATION MINING Generation Mining (TSX: GENM; US-OTC: GENMF) holds an 80% interest in the 220-sq.-km Marathon platinum group metal (PGM)copper deposit in northwestern Ontario, within 10 km of the town of Marathon. A January 2020 preliminary economic assessment of the project defined a 14-year open pit operation, producing an average of 194,000 oz. palladium-equivalent annually at all-in sustaining costs of US$586 per oz. palladium, net of by-product credits. With a preproduction capital cost estimate of $431 million, the after-tax net present value estimate for the den

Processing facilities at Conic Metals’ Ramu nickel-cobalt operation in Papua New Guinea.

velopment comes in at $871 million, at a 5% discount rate. This operation would ultimately produce a PGM-copper concentrate, shipped off-site. By July 2020, the company contracted engineering companies for a feasibility study on the Marathon project. The study is expected to be completed in the first quarter of 2021. In November, Generation Mining announced that the Canadian government, together with the Ontario government, appointed a Joint Review Panel (JRP) for an environmental assessment of the Marathon project. This past fall, the company also started a second-phase metallurgical test program, which includes a pilot plant testing three bulk sample composites from the site to optimize the process design, estimate life-of-mine metal recoveries and provide details for concentrate marketing. After starting a 5,000-metre exploration program along the western margin of the Marathon proj-

CONIC METALS

Transporting drilling equipment at American Lithium’s FLV lithium project in Nevada. AMERICAN LITHIUM

Global Atomic’s Dasa uranium project in Niger. GLOBAL ATOMIC

Appia Energy Corp. Suite 500 – 2 Toronto St., Toronto ON M5C 2B6 Phone: (416) 546-2707 Email: appia@appiaenergy.ca Web: www.appiaenergy.ca CSE:API, OTCQB:APAAF.US, Germany:A0I.F, A0I.MU, A0I.BE

ect in August, Generation Mining announced in December that it had validated its feeder-zone model for higher-grade mineralization at the site. Drill highlights included 92 metres of 0.08 gram gold, 0.23 gram platinum, 0.66 gram palladium and 0.32% copper (1.41 grams palladium-equivalent) from 338 metres and 32 metres of 0.07 gram gold, 0.27 gram platinum, 0.71 gram

palladium and 0.22% copper (1.33 grams palladium-equivalent) starting at 282 metres. In September 2019, the company released an updated pitconstrained resource estimate for the Marathon deposit, with 179.2 million measured and indicated tonnes, at 1.24 grams per tonne palladium-equivalent (with contained palladium, platinum, cop-

per, gold and silver), for a total of 7.1 million palladium-equivalent ounces. Additional inferred resources stand at 668,000 tonnes, grading 0.95 gram palladiumequivalent, for a further 21,000 oz. palladium-equivalent. There are additional mineral resources within the Geordie and Sally deSee SNAPSHOT / 13

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GLOBAL MINING NEWS

THE NORTHERN MINER / JANUARY 4—17, 2021

MILLENNIAL LITHIUM Millennial Lithium (TSXV: ML) is working to fast-track its 100%owned 126-sq.-km Pastos Grandes lithium brine project in Argentina’s Salta province to the production stage. The property is 231 km from the city of Salta with yearround road access. In July 2019, Millennial announced the results of a feasibility study on the project, which suggested a 40-year operation producing battery-grade lithium carbonate, extracting lithium-rich brine using up to 30 wells, which would then be directed to evaporation ponds. The brine would then be directed to a lithium carbonate plant, for the removal of impurities. A carbonation stage would follow, to precipitate lithium carbonate, which would then be transported to a port for shipment. The suggested operation has two stages: a six-year start-up portion and a 34-year main mining stage. In the start-up stage, Pastos Grandes would produce approximately 21,000 tonnes a year of battery-grade lithium carbonate equivalent; in the main stage, the site would generate around 24,000 tonnes a year of battery-grade lithium carbonate. With an initial capital cost of US$448.2 million, and total operating costs pegged at between US$3,377 and US$3,388 per tonne of lithium carbonate, the after-tax net present value estimate for the project comes in at US$1 billion, at an 8% discount rate, with a 24.2% internal rate of return. According to Farhad Abasov, n

Geologist David Good (far right) addresses field trip attendees in front of a trench at Sibanye-Stillwater’s Marathon PGM project in June 2019. Generation Mining bought an initial interest in the project in July 2019 and increased its stake to 80% in November 2020. GENERATION MINING SNAPSHOT From 12

posits at the property. Generation Mining has a $83.6 million market capitalization. GLOBAL ATOMIC Global Atomic (TSX: GLO; USOTC: GLATF) is working to advance its Dasa uranium project in Niger while also harnessing cash flow from its 49% stake in the Befesa zinc concentrate facility in Turkey. The 750-sq.-km Dasa project, 105 km south of Arlit, features the high-grade Dasa deposit. In April 2020, Global Atomic released the results of a preliminary economic assessment for the highgrade Flank zone of the Dasa deposit, which outlined the first phase of a larger underground mine at the site — with a 12-year life. With a capital cost pegged at US$203 million, mining the Flank zone would produce an average of 4.4 million lb. of U3O8 per year at all-in sustaining costs of US$18.38 per lb., with an after-tax net present value estimate of US$211 million, at an 8% discount rate and based on US$35 per lb. uranium prices. The company submitted an application for a mining permit for the Flank zone and received the permit on Dec. 23. Global Atomic is looking to complete final engineering and design studies on Dasa’s Flank zone in 2021 ahead of mine construction in 2022. Based on a 1,200 part per million U3O8 cut-off, indicated resources at Dasa stand at 7.9 million tonnes grading 4,483 ppm U3O8 for a total of 78 million contained lb., with additional inferred resources of 8.4 million tonnes grading 3,783 ppm U3O8 for a further 69.9 million lb. of uranium. During the first 12 years of mining, given the US$35 per uranium lb. base-case price used in the PEA over this period, the cut-off grade would be 2,300 ppm U3O8 within the high-grade Flank zone, resulting in an average mineable grade of 5,400 ppm. In 2017, Global Atomic signed a memorandum of understanding (MOU) with uranium miner Orano, and continues to work under the terms of the MOU. In Turkey, Global Atomic holds a 49% interest in the Befesa Silvermet joint venture, which includes n

a 110,000-tonne-per-year electric air furnace dust kiln capable of producing 50 to 60 million payable lb. of zinc concentrate annually from metallurgical waste for sale to smelters. Global Atomic has a $165.4 million market capitalization. GROUP TEN METALS Group Ten Metals (TSXV: PGE) is an explorer focused on advancing its Stillwater West platinum group element-nickel-copper project, next to three of Sibanye-Stillwater’s palladium-platinum mines in Montana. The wholly owned, 54-sq.-km Stillwater West property covers 25 km of strike and is next to Sibanye’s producing J-M reef PGE deposit. Group Ten suggests similarities between the Stillwater and Bushveld complexes (the latter is a platinum group element-bearing layered intrusion in South Africa). The comparison is based on comparable stratigraphy (both are layered magmatic intrusions) and similar emplacement patterns of platinum group elements. There are a total of 14 exploration target areas at Stillwater West: eight large-scale, bulk tonnage PGE-nickel-copper-cobalt zones with ‘platreef-style’ mineralization and six higher-grade PGE ‘reeftype’ areas. Both types of targets have the potential to host multiple deposits. Stillwater West also features 21 km of anomalous precious and base metal values, based on soil geochemistry, over the lower Stillwater stratigraphy with good correlation to geophysical conductors. The three most advanced targets at the site are the Discovery (Chrome Mountain) area, and the HGR (Iron Mountain) and Camp targets. According to Group Ten, 2019 drilling confirmed ‘platreefstyle’ mineralization in these areas, and the 2020 program was aimed at defining initial resources within the zones. Drill highlights included 272 meters of 1.9 grams total platinumequivalent from HGR, drilled in 2019, and 118 metres of 2.15 grams total platinum-equivalent from Discovery, drilled in 2007. In 2020, Group Ten completed a 77 line-km geophysical survey over the site to expand out from areas of known mineralization. In November, Group Ten announced that it had completed its “biggest

field program to date at Stillwater West.” Resource modelling is now underway for the Discovery, Camp and HGR target areas. The company also holds the 137-sq.-km Black Lake–Drayton

gold project in Ontario’s Rainy River district, as well as the Kluane PGE-nickel-copper property in the Yukon. Group Ten Metals has a $55.1 million market capitalization.

See SNAPSHOT / 14

The next major Lithium producer

Join the future TSXV: NLC

OTCQX: NTTHF

www.neolithium.ca

FSE: NE2

JANUARY 4—17, 2021 / THE NORTHERN MINER

SNAPSHOT From 13

Millennial Lithium’s president and CEO, the feasibility results suggest a potential “robust lithium carbonate producer” that is “among the lower quartile of LCE (lithium carbonate equivalent) costs.” In October 2020, the company started up a lithium carbonate pilot plant at Pastos Grandes. The flowsheet allows the test facility to produce up to three tonnes a month of battery-grade lithium carbonate. The initial output from this plant will be used to test and optimize the individual processes. By December, Millennial Lithium announced that a number of its concentration ponds had reached a lithium content of 3% with the brine now directed to the pilot plant for processing; battery-grade lithium carbonate is expected in the first quarter of 2021. In June, Millennial Lithium’s

Environmental Impact Assessment for Pastos Grandes, for the construction and operation of a 24,000-tonne-per-year lithium carbonate facility, received approval from the provincial environmental and mining authority. The company also holds the Cauchari East project, which covers 110 sq. km in the Cauchari Salar and is contiguous with Orocobre’s (TSX: ORL) Olaroz lithium mine. Millennial Lithium has a $233.1 million market capitalization. n NEXGEN ENEREGY NexGen Energy (TSX: NXE) wholly owns the Rook I project in the southwest Athabasca Basin in Saskatchewan. Rook I includes the high-grade, basement-hosted Arrow deposit, which, according to NexGen, is the “largest development-stage uranium deposit in Canada.” Arrow includes an indicated

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resource of 1.2 million tonnes grading 6.88% U3O8, for a total of 179.5 million lb. U3O8, with a high-grade core of 400,000 tonnes at 18.84% U3O8. Additional inferred resources stand at 4.3 million tonnes at 1.3% U3O8, for a further 122.1 million lb. U3O8. This resource is derived from 200 drillholes; Arrow currently covers an area of 875 metres by 280 metres, starts at a depth of 100 metres and extends down to a depth of 980 metres and remains open. In November 2018, NexGen released the results of a prefeasibility study on Arrow, which suggests an underground long-hole stoping mine, with the ore fed to a conventional uranium processing plant. This nine-year mine would generate an average of 25.4 million lb. of U3O8 annually, at average life-of-mine operating costs of US$4.36 per lb. U3O8. Based on

US$50 per lb. uranium, the aftertax net present value estimate for the development comes in at $3.7 billion, at an 8% discount rate, with a 56.8% internal rate of return. NexGen is now working to deliver a feasibility study for Arrow and anticipates starting early engineering in the second half of 2021. The company has also made several discoveries around Arrow in the past few years — these include South Arrow, 400 metres northeast of Arrow; Harpoon, 4.7 km northeast of Arrow; and Bow, 3.7 km northeast of Arrow. Within the southwest Athabasca Basin, NexGen’s land position totals 2,090 sq. kilometres. NexGen also has a 52.5% stake in IsoEnergy (TSXV: ISO), with a portfolio of assets in the eastern Athabasca Basin. NexGen Energy has a $1.3 billion market capitalization. TNM

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person who discovered the camp and was able to confirm the extraordinary richness of the deposits with an initial drill program funded by Joseph Hirshhorn, a well-known Toronto mining financier. From an old geological map, Joubin realized that there was a distinct break between the old rocks and younger sedimentary deposits. The uranium was found at the bottom of the younger rocks. The contact between these two rock formations formed a rough “Z” pattern running northwest from the shore of Lake Huron for about 80 miles.They wanted total control over the prospective ground and conducted one of the largest and most secretive claim-staking initiatives in northern Ontario’s history, known as the “Backdoor Staking Bee” that was completed by July 1953. It was largely successful and resulted in the development of nine mines, each with its own mill rolled into a company named Rio Algom. Joubin and Hirshhorn became multimillionaires when they sold out to Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) years later. During that staking rush, mine engineer and prospector Arthur Stollery managed to stake a strategic 83 claims on the north end of the “Big Z” near Quirke Lake. He eventually sold those claims to Stephen B. Roman for $30,000 and 500,000 shares of Consolidated Denison. While not without his controversies, Stephen B. Roman’s life could almost fit into a Hollywood “rags to corporate riches” story. A Slovak immigrant who came to Canada in 1937, Roman worked in a variety of jobs that included farming, the Canadian army, munitions factory worker, auto assembly, and eventually into successful stock market speculation and investment. The 83 claims Roman purchased from Stollery contained the largest uranium deposits in the camp and the development of two mines and a mill would be the foundation of one of Canada’s largest resource companies — Denison Mines (TSX: DML). By 1955, Denison’s exploration program had confirmed about 132 million tonnes of uranium ore grading an average of 2.86 pounds per ton or 377.52 million pounds of U308. Its potential yearly production could equal all the American uranium mines combined. Denison’s corporate empire would eventually include metallurgical coal mines in British Columbia, potash developments in New Brunswick, cement production facilities in Canada and the United States, a 45% interest in Standard Trustco and oil and gas production in Western Canada and Europe. The proverbial penny dropped in

Above: British Columbia Premier Bill Bennett and Denison Mines CEO Stephen B. Roman at the opening of the Quintette Mine at Tumbler Ridge. DENISON MINES Right: Global Atomic founder, chairman and CEO Stephen G. Roman. GLOBAL ATOMIC

1959, however, when the American government announced that it would not extend the uranium contracts for Denison and Rio Algom after 1962 as miners in the U.S. were then supplying much of the yellowcake required for that country’s nuclear hardware. The incredible boom in Ontario went bust and the population of Elliot Lake shrank from around 25,000 to less than half that. With extended deliveries and government stockpiling, Denison Mines and Rio Algom both survived until nuclear power plants began operating in Ontario in the late 1970s. The Northern Miner named Roman the newspaper’s first “Mining Man of the Year” in 1977 for his successful $7 billion Ontario Hydro contract, which at that time was the biggest uranium sale in history. Critics were incensed at the high price Ontario Hydro had to pay for Ontario uranium and the New Democratic Party publicly demanded unsuccessfully that the government nationalize Denison Mines. Stephen B. Roman died of heart failure at the age of 66 on March 23, 1988. In an obituary published in The Northern Miner, Franc Joubin, recalling the early 1950s, said: “Stephen Roman was a brilliant competitor whom I greatly respected. His qualities of global imagination, self-confidence, financial courage and sound judgment were extraordinary. He had few equals and no superiors in the intensely competitive world of mine finders.”

A devout Catholic, Stephen B. Roman was the main benefactor and builder of the Cathedral of the Transfiguration in Unionville, north of Toronto, which was consecrated by Pope John Paul II in 1984. The stunning architecture includes three gilded towers, the centre one being 210 feet tall. The church is an enduring legacy to his faith, his homeland (he detested Soviet imposed communism and oppression and was a life-long supporter of Slovak independence), hard work and the rich uranium deposits that fuelled his astonishing career. Helen Roman-Barber, Roman’s oldest daughter who had been working at the company for a number of years took over the reins at Denison. It was a baptism of fire. Commodity markets in the late 1980s were going through an economic slump and Denison shares were plummeting. The company was facing enormous financial challenges and with the prospect of bankruptcy, the board of directors brought in Bill James in December 1990. He had recently turned around troubled Falconbridge Ltd. and there were high hopes he could do the same for Denison. Those high hopes came crashing

down with the announcement by Ontario Hydro that it was cancelling the contract to purchase Denison’s fuel for its nuclear reactors. Denison’s declining ore reserves and high operating costs could not compete with the richer grades and lower prices for uranium in Saskatchewan’s Athabasca Basin. Denison closed its last mine in Elliot Lake in 1992. Rio Algom Ltd. closed its last mine in 1996. That was the beginning of the end for Denison Mines, with massive divestures of most of the company’s primary assets. When the restructuring was finally complete, Denison was a shadow of its former self. Stephen G. Roman recalls the difficult times at the company. “I was VP of Exploration, having discovered and working on a very promising gold deposit in Guyana when Bill James decided to close the exploration division and I found myself out of a job,” he said in an interview. “That deposit became the Aurora gold mine with roughly six million ounces, operated by Guyana Goldfields. It was taken over by a Chinese company last summer. That firing was the start of my junior mining exploration career.” Like his father’s career, Roman’s

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career has had some significant successes. In 1993 he acquired a majority stake in the Glimmer gold property in the Timmins camp from Hemlo Gold Mines Ltd. He financed and built an underground mining operation, which is now called the Black Fox mine, owned by McEwen Mining (TSX: MUX; NYSE: MUX). He rescued a stalled junior explorer, Harte Gold (TSX: HRT; US-OTC: HRTFF) in 2009, and with the help of his long-time friend and exploration partner Flach, discovered close to two million ounces of gold and financed and built the Sugar Zone mine and mill complex in White River, Ontario. The mine is now in production. Roman also founded and financed Verena Minerals in Brazil, now called Belo Sun Mining (TSX: BSX), which is progressing the multimillion-ounce Volta Grand gold deposit to production. In addition, Roman was a key player in the development of Gabriel Resources (TSXV: GBU) and its Rosia Montana gold mine in Romania. The almost 20-millionounce deposit is Europe’s largest gold deposit. The company is currently suing the Romanian government for blocking the project through the International Centre for Settlement of Investment Disputes. The highlight of his junior mining career so far, he says, was receiving the 2016 PDAC “Bill Dennis Award” for a Canadian mineral discovery or prospecting success, along with mine financier Rob Cudney and geologist John Whitton for Gold Eagle Mines’ Bruce Channel discovery in the Red Lake Camp in 2007. Goldcorp bought Gold Eagle for $1.5 billion the following year. Moving into Niger Fifteen years ago Roman set up uranium explorer Global Atomic and focused his search in Niger, the world’s fifth-largest uranium producer. “When I set up Global Atomic in 2005, Niger was starting to open its world-class Tim Mersoi Basin, the source of all its uranium,” Roman recalls. “With a new mining code in 2006, permitting in that country became very efficient and streamlined whereas in Canada it can take up to 20 years to permit and build a uranium mine.” Many geologists feel Tim Mersoi is in the same geological league as Canada’s Athabasca Basin and the French have been mining in the country since the early 1970s and are the largest private sector employer. Orano Mining SA, formerly AREVA, has two mines in Niger, Cominak an underground operation and Somaïr, an open pit facility, and two processing facilities all near the town of Arlit in the northwest part of the country. The country’s uranium potential intrigued Roman, so he contacted his associate and geologist George Flach, who was working on a gold project in Niger. “He knew the country well and together we acquired six concessions covering 3,500 square kilometers, all of which had prior work done on them by the French and Japanese,” Roman says. “The concessions were granted in 18 months and we began exploration in 2007.” Three years later Global Atomic’s field crews made their first major discovery at Dasa, an acronym for Dajy Area Surface Anomaly. Exploration to date at the project, 105 km south of Arlit, has delineated a massive highgrade deposit that remains open on strike and down dip. Based on a 1,200 part per million (ppm) uranium cut-off, indicated resources at Dasa stand at 7.9 million tonnes grading 4,483 ppm U308 for a total of 78 million contained lb., with additional inferred resources of 8.4 million tonnes grading 3,783 ppm U308 for a further 69.9 million lb. of U308. In 2018, Global Atomic discovered the near surface, high-grade Flank Zone at Dasa, allowing the company See PEOPLE IN MINING / 18

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The Perron project is just 15 km from the past-producing Normetal mine, where mineralization stretched from surface down to over 2.4 km vertically. NorMetal was in production from the 1930s through to the late 1970s. “Normetal showed us that the area can produce very deep ore deposits. … It was a very rich VMS deposit with a gold component as well,” Malcolm said. The Eastern Gold Zone includes the Denise Zone, which sits roughly 50 metres to the south of the highgrade zone, and is a broad zone of disseminated gold hosted by a brecciated rhyolite. The Denise Zone offers the potential to mine the Eastern Gold zone in open pit and underground scenarios, the company said. Highlights from the Denise Zone, released in early December, included 81.50 metres of 1.51 grams gold starting from 190 metres downhole in PE-20-199, including 4.50 metres of 6.79 grams gold. Drillhole PE20-195 returned 8.25 metres of 2.59 grams gold starting from 337 metres, including 1 metre of 14.32 grams gold. Drillhole PE-20-204 cut 187 metres of 0.66 gram gold from 180 metres, including 10 metres of 3.51 grams gold. Other notable intercepts from Denise: 9.36 grams gold over 39.55 metres from 225 metres depth in PE-20-192; 1.07 grams gold over 189.4 metres from 300 meters depth in drillhole PE-20-188; and 1.01 grams gold over 100 metres in PE20-56 from 120 metres downhole. Results from the other two zones, Gratien and Grey Cat, have also been encouraging, Malcom said. At Gratien, drillhole PEG-19-89 intersected 16.48 grams gold over 14.60 metres from 193 metres downhole, and at Grey Cat, drillhole PEG-19-80 cut 3.42 grams gold over 26.90 metres from 243 metres downhole. Amex first optioned the Perron property from Falconbridge in 1996 when the junior was still known as Coleraine Resources. In 2013 Amex drilled a discovery hole into the Central Polymetallic Zone, and due to the property’s similarities to the Laronde mine, Agnico Eagle Mines (TSX: AEM; NYSE: AEM) optioned the project. Shortly after Agnico returned the project to Amex in June 2017, the company identified the Eastern Gold zone in December of that year. Since Amex’s gold discovery on the Chicobi belt, which traditionally has been thought to be a base met-

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“People always talk about this greenstone belt, that it hosts Kittila, with a resource of as much as eight million ounces and the next one down is Pahtavaara, call it a million ounces … but there’s nothing in between,” he said, “whereas other belts have mines between sizes, but there’s just been a lack of exploration and this is why this part of the world is so exciting. This is the first time modern exploration is going on in a belt of this size by us and our neighbours.” The entire Central Lapland greenstone belt is hundreds of kilometres long, he added, and the Pahtavaara project makes up between 80 and 100 km of the belt. “People really should look at the region, it’s a pretty exciting one and will be exciting for many years to come,” said Withall, who before joining Rupert Resources in April 2017 spent thirteen years as a partner and fund manager at Baker Steel Capital Managers, one of the largest London-based mining specialized funds. Withall had looked at the project as a fund manager and said he recognized that the company had a special project on its hands. (Prior to

In the core shack at Amex Exploration’s Perron gold project in July 2020. From left: Mining analyst George Topping from Industrial Alliance; Amex VP Exploration Kelly Malcolm; and Gregg Huffman of Canaccord Genuity. AMEX EXPLORATION

lot of ounces to discover and to be developed.” The company has about $39 million in the bank and around $13 million in-the-money warrants that come due throughout 2021. “We have plenty of capital, more than sufficient to cover our drill program to the end of 2021,” Malcolm said. Major shareholders in the company include Eric Sprott (~15%); Inside the core shack with Laurentia Exploration QP Jerome Augustin (left) and Laurentian Bank mining analyst Ryan Hanley. AMEX EXPLORATION

als belt, other juniors and some mid-tiers and majors have started exploration in the area, including Sumitomo Metal Mining Canada, which has optioned the Chicobi project from Kenorland Minerals. Other projects in the district include Starr Peak Exploration’s (TSXV: STE; US-OTC: STRPF) Newmetal project, which includes the historic NorMetal mine; Generic Gold’s (CNSX: GGC; US-OTC: GGCPF) Belvais project; Vanstar Mining Resources’ (TSXV: VSR) Felix project, and Bmex Gold’s (TSXV: BMEX) King Tut project. The team at Amex is optimistic that regional exploration on the 45 sq. km property will identify new gold zones, while drilling between its three known gold zones will also bear fruit. “We’ve got something sizeable and very rich on our hands and we think Perron still has a

working as a fund manager, Withall worked as an exploration and production geologist in Australia for eight years.) The Pahtavaara project also sits about 20 km from the polymetallic deposits at Boliden’s Kevitsa nickel, copper, and PGM mine, one of the largest ever mineral discoveries in Finland, and Anglo American’s (LSE: AAL; US-OTC: AAUK) Sakatti copper-nickel-PGM project. Rupert Resources has about $32 million in the bank, an amount that should pay for the drilling the company has planned, Withall said. “Our strategy always has been trying to find deposits of scale — 2-3 million plus ounces — the sort of mines that really make a difference in the sector and if you can really find a very economic mine like that it’s often the cornerstone of a great company,” Withall said. “And I’m pleased to say that sitting at the end of 2020 — three years of doing that hard baseline work and trying to understand the region really well — has paid off. We’ve made six discoveries, beyond the historic mine we own, and Ikkari potentially fits the criteria we have and we’re still looking to find further discoveries.” TNM

Commodity Capital (~8%); management (~13%); Quebec institutions (~4%); and other institutions (~25%). Over the last year, Amex has traded at between 86¢ and $3.98 per share and at presstime in Toronto was changing hands at $3.18 per share. The junior has about 83 million common shares outstanding for a market cap of about $263 million. TNM

Northern Dynasty to challenge rejection on Pebble ALASKA

| Appeal to be submitted in January

The proposed area where the Pebble mine would be built, 320 km southwest of Anchorage, within the Bristol Bay watershed. NORTHERN DYNASTY MINERALS

BY MINING.COM STAFF

orthern Dynasty Minerals (TSX: NDM; NYSE: NAK) will in January submit its request for an appeal of the U.S. Army Corps of Engineers’ (USACE’s) negative record of decision (RoD) for its Alaska’s Pebble copper-goldmolybdenum-silver project. The company said it would argue that the USACE’s mitigation requirements for Pebble were contrary to policy and precedent in Alaska and that the agency’s rejection of the mining firm’s compensation mitigation plan (CMP) was procedurally and substantively invalid. “Although we believe the USACE’s ‘significant degradation’ finding to be contrary to law and unsupported by the administrative record as established by the Environmental Impact Statement (EIS), we set out in good faith to meet their demand for inkind and in-watershed mitigation at a very high and unprecedented ratio for Alaska — and after a tremendous amount of professional effort and

investment, we did it,” Ron Thiessen, Northern Dynasty’s president and CEO, said in a press release. “For the USACE to summarily reject a CMP that is directly responsive to its requirements, to do it on the basis of what we believe to be largely minor and arbitrary deficiencies and without giving the proponent an opportunity to respond to those alleged deficiencies or otherwise amend its application is, we believe, without precedent in the long history of responsible resource development in Alaska.” The Pebble project as proposed would directly or indirectly impact 3,650 acres of wetlands and other water bodies, as well as 185 miles of streams. To compensate for these impacts, the Pebble Partnership proposed the creation of a 112,445 acre Koktuli Conservation Area on state-owned land in the Koktuli watershed — thereby preserving 27,886 acres of wetlands, 1,174 acres of other waters and 814 miles (1,967 acres) of streams in the immediate vicinity of the Pebble Project, according to

the company. “We expended considerable financial and professional resources delivering exactly what the US Army Corps asked us to deliver on compensatory mitigation,” Thiessen said. “As I’ve said before, we believe the facts are on our side and we intend to pursue our appeal and other avenues with vigor and determination.” If permitted, Pebble would be North America’s largest mine, with 6.5 billion tonnes in the measured and indicated category containing 57 billion pounds of copper, 71 million ounces of gold, 3.4 billion pounds of molybdenum and 345 million silver ounces. Pebble’s permitting process has been surrounded by controversy and delays. Pebble faced environmental opposition from the outset as the mine would be near the world’s largest commercial sockeye salmonproducing region. TNM This article first appeared in MINING.com, part of Glacier Resource Innovation Group

JANUARY 4—17, 2021 / THE NORTHERN MINER

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visioned a shallow open-pit heap leach mine producing 146,000 oz. of gold per year over eight years. Initial capex was pegged at US$143 million, and the study estimated an after-tax payback period of under three years. The PEA, which used a US$1,600 per oz. gold price, forecast an aftertax net present value of US$343 million, at a 5% discount rate, with an internal rate of return of 44%. The project is accessed by a paved road and has a water well and power line, Trebilcock said. It also sits on land owned by the U.S. Bureau of Land Management, which reduces the risks of developing the project, he said. The project is also close to two gold mines. Equinox Gold’s (TSX: EQX; NYSE: EQX) Mesquite gold mine lies 16 km west of Imperial and has a 10-million oz. total endowment comprising mined material, current reserves, and historic resources. The Picacho mine, operated by Chemgold, is about 16 km east of Imperial and produced approximately 650,000 oz. of gold before closing in 2002. “In addition to attractive economics for the project, there is a huge exploration opportunity after we staked further claims with funds from Eric in 2019,” Trebilcock said. “We now have control of a 28-kilometre belt book-ended by two significant gold mines.” Trebilcock said that the company is looking to advance Imperial directly from PEA to mine permitting and is engaging with local stakeholders to facilitate the process. Meanwhile, Kore is busy advancing Long Valley, and in September released results of a PEA on the project, marking its second PEA in 2020. The early stage study envisioned a shallow, open-pit heap leach mine producing 102,000 oz. of gold annually over a mine life of seven years at average all-in sustaining costs of US$773 per ounce. Pre-production

Above: Kore’s second California project, the Long Valley gold project. KORE MINING Right: An outcrop of weathered gneiss rock at Kore Mining’s Imperial project. KORE MINING

capex was estimated at US$161 million with an after-tax payback period of just under two years. The study, which also used a US$1,600 per oz. gold price, forecast an after-tax net present value of US$273 million, at a 5% discount rate, and an after-tax internal rate of return of 48%. “Long Valley is at a more classical stage of development compared with Imperial and is a typical PEA-stage project,” Trebilcock said. “We still need to carry out more drilling and more metallurgical testing on the project to take it to a prefeasibility study or an updated PEA further down the track.” The company recently added sig-

nificantly to the project’s claim block, staking 5,708 hectares of claims and increasing the size of Long Valley by 750% to 6,461 hectares, which, he reasoned should capture the potential upside from the resource. A drill program is awaiting permitting and is slated to start in the second quarter of 2021. Trebilcock noted that over the past five years, California has permitted three large-scale gold mines. Golden Queen Mining’s (TSXV: GQM.H;

US-OTC: GQMND) Soledad Mountain mine; Equinox Gold’s Castle Mountain mine; and the Sutter mine, owned by Sutter Gold Mining. “What surprises most people is that there is a significant earthmoving industry in the state and hosts hundreds of aggregate and industrial mines producing industrial minerals, including gold,” he said. “This points to a jurisdiction that understands mining and has a proven system for managing the

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mine permitting process.” California, he continued, also has very stringent laws and regulations around labour, environmental, and reclamation for mining companies operating in the state. Both Imperial and Long Valley have greenfield reclamation plans that meet the standards required by regulators and, together with support from local communities, offer a “strong social licence to operate in the state,” he said. Kore’s other assets include the exploration-stage FG and Gold Creek gold projects in the Cariboo region of B.C. The company now controls about 1,000 km of claims in the area, much of which it acquired in 2020, Trebilcock said. “At the FG project, we’re taking a historic resource that was drilled very shallowly by previous operators,” he explained. “Our theory was that noone had ever chased mineralisation at depth, so we decided to look for some grade at depth.” The mineralised system at FG lies along 3.6 km of strike. The company has only tested about 1.8 km of strike and is waiting for assay results from 14 out of 15 drill holes in the area, which he expects to receive in the new year. Recently the company announced its intention to spin-out its land holdings in B.C. and create a new entity, Karus Gold. “About a month ago, the board authorised management to start the planning process,” Trebilcock said. “We’re now in the late stages of the process, and hopefully the board will approve the spin-out, creating a new gold company that is a pureplay exploration company with a dominant position in the area.” Under the transaction, all of Karus’ common shares would be distributed to Kore shareholders on a pro-rata basis to their ownership in Kore, Trebilcock said. Karus would initially operate as a reporting issuer in B.C. and Alberta, ahead of a rights offering planned for early 2021, which would then be followed by listing in the first half of 2021. TNM

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ith Canadians looking ahead to a federal election on Oct. 19, The Northern Miner submitted mining-related questions to the leaders of the four major political parties running across Can| New technology stokes productivity gains, but ‘no silver bullet’ ada. The following are the answers from the Liberal Party of Canada BY ALISHA HIYATE leader Justin Trudeau and Green Party ahiyate@northernminer.com of Canada leader Elizabeth May and their parties: he mining sector is facing a DarThe Northern Miner: In recent years winian moment, delegates at the first annual Technology and Inthe federal has streamlined novation in Mining conferencegovernment in Toronto heard in September. environmental permitting for miners ith Canadians looking Just as species deal with changes in byfood trying tooravoid ahead to a federal election their climate, sources other duplicating provinon Oct. 19, The Northern circumstances, miners dealing with efforts. Do you support this apMiner submitted mining-related quesmounting cial cost, social and technical tions to the leaders of the four major pressures must innovate ifDoes they want to federal government proach? the political parties running across Cansurvive, research group AMIRA Interhave adirector unique role to play in avoiding ada. The following are the answers national managing Joe Cufrom the Liberal Party of Canada cuzza said. catastrophic tailings dam failures, such leader Justin Trudeau and Green Party “If you look at Darwinian evolution, of Canada leader Elizabeth May and there are more that go extinct as species the Mount Polley spill in B.C. in their parties: than actually quickly adapt,” Cucuzza 2014?“The point is that The Northern Miner: In recent years told the conference. the federal government has streamlined in our industry, we need to adapt quickly. Justin Trudeau/Liberal Party: The environmental permitting for miners Those that are slow to adapt, unfortuby trying to avoid duplicating provinnately, are going to go extinct.” Harper government has eroded the cial efforts. Do you support this apThe conference, organized by Dubaicredibility of Canada’s environmental proach? Does the federal government See TECHNOLOGY / pg. 2 have a unique role to play in avoiding reviews by narrowing their application, catastrophic tailings dam failures, such Autonomous haulage trucks on the move at Rio Tinto’s West Angelas iron ore mine in Australia’s Pilbara region. as the Mount Polley spill in B.C. in limiting public participation and slash2014? ing the capacity of the federal governJustin Trudeau/Liberal Party: The Harper government has eroded the ment to protect the environment. credibility of Canada’s environmental reviews by narrowing their application, They have ended over 50 years of limiting public participation and slashing the capacity of the federal governenvironmental oversight in Canada ment to protect the environment. by repealing the Canadian EnvironThey have ended over 50 years of environmental oversight in Canada mental Assessment Act so that the by repealing the Canadian Environmental Assessment Act so that the federal government can sidestep enfederal government can sidestep environmental reviews of potentially vironmental reviews of potentially harmful projects. harmful projects. Without public trust, Canada’s environmental assessment processes are Without public trust, Canada’s enincreasingly paralyzed. Not only are vironmental assessment processes are we not doing a good enough job at protecting our environment, we are increasingly paralyzed. Not only are not getting our resources to market. We need clear and efficient processes we not doing a good enough job at that have reasonable, evenhanded protecting our environment, we are rules, clear beginning and end points and decisions that can be relied on. not getting our resources to market. We will launch an immediate, public review of Canada’s environmental We need clear and efficient processes assessment processes. Based on this that have reasonable, evenhanded review, a Liberal government will rules, clear beginning and end points See ELECTION / pg. 3 and decisions that can be relied on. We will launch an immediate, pubCOAL OUTLOOK: WOOD MACKENZIE SEES RAY OF HOPE / 4 lic review of Canada’s environmental assessment processes. Based on this review, a Liberal government will

Canadian Mining Hall of Fame

Discipline pays off / 4

Five new inductees / 5

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Mining sector forced to innovate

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BY JOHN CUMMING jcumming@northernminer.com

ith Canadians looking ahead to a federal election on Oct. 19, The Northern Miner submitted mining-related questions to the leaders of the four major political parties running across Canada. The following are the answers from the Liberal Party of Canada leader Justin Trudeau and Green Party of Canada leader Elizabeth May and their parties: The Northern Miner: In recent years the federal government has streamlined environmental permitting for miners by trying to avoid duplicating provincial efforts. Do you support this approach? Does the federal government have a unique role to play in avoiding catastrophic tailings dam failures, such as the Mount Polley spill in B.C. in 2014? Justin Trudeau/Liberal Party: The Harper government has eroded the credibility of Canada’s environmental reviews by narrowing their application, limiting public participation and slashing the capacity of the federal government to protect the environment. They have ended over 50 years of environmental oversight in Canada by repealing the Canadian Environmental Assessment Act so that the federal government can sidestep environmental reviews of potentially harmful projects. Without public trust, Canada’s environmental assessment processes are increasingly paralyzed. Not only are we not doing a good enough job at protecting our environment, we are not getting our resources to market. We need clear and efficient processes that have reasonable, evenhanded rules, clear beginning and end points and decisions that can be relied on. We will launch an immediate, public review of Canada’s environmental assessment processes. Based on this review, a Liberal government will

Autonomous haulage trucks on the move at Rio Tinto’s West Angelas iron ore mine in Australia’s Pilbara region.

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Five new inductees / 5

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Liberals, Greens Q&A on mining in Canada

Mining sector forced to innovate TECH CONFERENCE

| New technology stokes productivity gains, but ‘no silver bullet’

ELECTION 2015 | Credibility and accountability are top concerns

BY ALISHA HIYATE ahiyate@northernminer.com

he mining sector is facing a Darwinian moment, delegates at the first annual Technology and Innovation in Mining conference in Toronto heard in September. Just as species deal with changes in their climate, food sources or other circumstances, miners dealing with mounting cost, social and technical pressures must innovate if they want to survive, research group AMIRA International managing director Joe Cucuzza said. “If you look at Darwinian evolution, there are more species that go extinct than actually quickly adapt,” Cucuzza told the conference. “The point is that in our industry, we need to adapt quickly. Those that are slow to adapt, unfortunately, are going to go extinct.” The conference, organized by Dubai-

BY JOHN CUMMING jcumming@northernminer.com

15-09-29 8:10 PM

ith Canadians looking ahead to a federal election on Oct. 19, The Northern Miner submitted mining-related questions to the leaders of the four major political parties running across Canada. The following are the answers from the Liberal Party of Canada leader Justin Trudeau and Green Party of Canada leader Elizabeth May and their parties: The Northern Miner: In recent years the federal government has streamlined environmental permitting for miners by trying to avoid duplicating provincial efforts. Do you support this approach? Does the federal government have a unique role to play in avoiding catastrophic tailings dam failures, such as the Mount Polley spill in B.C. in 2014? Justin Trudeau/Liberal Party: The Harper government has eroded the credibility of Canada’s environmental reviews by narrowing their application, limiting public participation and slashing the capacity of the federal government to protect the environment. They have ended over 50 years of environmental oversight in Canada by repealing the Canadian Environmental Assessment Act so that the federal government can sidestep environmental reviews of potentially harmful projects. Without public trust, Canada’s environmental assessment processes are increasingly paralyzed. Not only are we not doing a good enough job at protecting our environment, we are not getting our resources to market. We need clear and efficient processes that have reasonable, evenhanded rules, clear beginning and end points and decisions that can be relied on. We will launch an immediate, public review of Canada’s environmental assessment processes. Based on this review, a Liberal government will

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he mining sector is facing a DarW delegates at the winian moment, first annual Technology and Innovation in Mining conference in Toronto heard in September. Just as species deal with changes in their climate, food sources or other circumstances, miners dealing with mounting cost, social and technical pressures must innovate if they want to survive, research group AMIRA International managing director Joe Cucuzza said. “If you look at Darwinian evolution, there are more species that go extinct than actually quickly adapt,” Cucuzza told the conference. “The point is that in our industry, we need to adapt quickly. COAL OUTLOOK: WOOD MACKENZIE SEES RAY OF HOPE / 4 Those that are slow to adapt, unfortunately, are going to go extinct.” The conference, organized by Dubai-

BY JOHN CUMMING

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BY JOHN CUMMING jcumming@northernminer.com

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TECH CONFERENCE

ELECTION 2015 | Credibility and accountability are top concerns

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| New technology stokes productivity gains, but ‘no silver bullet’

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Liberals, Greens Q&A on mining in Canada

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the very beginning, making sure we were a leader and resource for our members,” Johnston said. “We have had many members calling us during the Covid-19 outbreak and asking for advice and looking for information. We also knew that people would be looking for ways to stay connected and to continue to learn, so we created a new Webinar series for people to join. Topics so far have included Big Data, ESG and Market Trends and there are more to come this year on things like permitting and community relations” Among the many things AME has focused on throughout 2020 is working closely with the provincial government on the regulations to operate remote work camps safely during a pandemic. It also worked to make sure that the land packages of their members remain in good standing for an additional year if work could not be completed due to the virus. In addition the organization has worked alongside PDAC and others to extend the deadline to spend flow-through expenditures for an additional 12 months. “The federal government has released draft legislation to this effect and it is our understanding that it’s on track and will come to fruition.” AME also hopes to continue its work on reducing permitting timelines in the province. “We have been working with the provincial government on reducing the time it takes to get an exploration permit to less than 90 days,” she said. “We need timelines that match the investment cycle, the junior exploration budget cycle and the seasonal cycle

Kendra Johnston, president and CEO of the Association for Mineral Exploration.

while still maintaining the rigor and standards. The government has made some good progress this year, but we still have a ways to go to be competitive, timely and transparent with our system.” AME is also advocating for a mineral exploration investment fund, which it envisions as an independent body that would invest in homegrown B.C.-based companies that demonstrate high ESG standards. “Part of the idea of the fund would be that it is supportive of local communities, so some of the profit could be directed towards building capacity in local communities and cleaning up legacy sites. There’s a great opportunity to promote the work going on in B.C., the relationship building between industry and First Nations partners and highlighting what our members are doing on the ESG side of things.” As for Roundup, the AME team

AME

asked itself what a virtual conference could look like and what kind of options there were, she said. “People need to be able to make connections, get their deals done, and we need to make it feel like a conference. The hardest part has been integrating the feel of a physical conference to a virtual platform, but we’ve found ways for delegates to network and meet new people in every corner of the platform.” “For our members who live and work in British Columbia, our Roundup is a very special time when they come out and enjoy chatting with one another,” she said. “In my own personal life, Roundup has become a great big family reunion with my mineral exploration family. It’s that connection, joy and opportunity to catch-up that is so important to create in the virtual platform — along with all of the great content of course.” TNM

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to fast forward a revised plan to become a near-term producer. Roman and his team hope to take advantage of a cyclical upturn in uranium demand. Combined with the exhaustion of some significant uranium deposits around the world, many analysts are predicting price increases in the next few years due to supply shortages. In addition, the electrification of the world’s auto sector and increasing industrialization and urbanization are placing more demands on power generation. With roughly 50 nuclear power plants under construction in 15 countries and about 100 more planned, as well as designs for less expensive small modular reactors coming down the pipe, all are likely to add up to increasing demand for uranium. In terms of mining jurisdictions, Roman says Niger is safer than many other countries in the region that can be unstable due to religious extremism, political instability and terrorist groups. “The issue of terrorism often comes up but I need to remind investors that those issues are happening primarily in surrounding countries,” he says. “The borders are secure and Niger is very pro-western. The Tim Mersoi Basin is roughly in the centre of the country, almost 1,000 kilometres from any border, and we have a French military base to the north and an American base to the south. The Niger government is very keen to protect the uranium mines, which are a key source of foreign exchange and the country’s largest private sector employer.” In addition, due to Orano Mining’s long history in the country, there is an established and very sophisticated network of supply and service companies and trained technicians for the industry, Roman says. Diversifying risk with zinc assets During the 2008 financial crisis, Global Atomic saw an opportunity to purchase an Electric Arc Furnace Dust (EAFD) plant at Iskenderun in Turkey. The plant had been shut down after its owners went bankrupt and Global Atomic decided to try to put it back into production and approached Befesa Zinc, a company based in Spain that specializes in recycling steel dust, salt slags and aluminum residues and is the market leader in zinc recovery across Europe and Asia. The two companies formed a joint venture in 2011 that processes electric arc furnace dust containing 25% to 30% zinc sourced from local steel mills. The end-product, a 70% zinc oxide concentrate, is then sold to smelters. Befesa Zinc is the main operator of the facility. Global Atomic, which owns 49% and Befesa Zinc 51% of the joint venture, modernized and expanded the Turkish plant in 2019. The operation now has the capacity to process 110,000 tonnes of electric arc furnace dust per year, an increase from 65,000 tonnes a year previously, and produces roughly 60 million pounds of zinc annually. The US$26 million capex required to refurbish the plant should be paid back within one or two years depending on the price of zinc, Roman says. This will ensure a continuous revenue stream to fund the development of Dasa and Global Atomic’s other exploration projects in Niger. For someone who has experienced mining booms and busts over the years, Roman is enjoying the current market potential he sees for both uranium and zinc. “The long uranium bear market has really hurt exploration and mine development and the current Covid pandemic has disrupted monthly mine supplies up to 50% among some of the largest uranium producers,” says Roman. “And current zinc prices of US$1.28 a pound are adding to our cash flow and helping

Receiving the PDAC Bill Dennis award in 2016. From left: Ed Thompson, chair of the PDAC Awards Committee, with Stephen G. Roman, Robert Cudney and John Whitton. ENVISIONDIGITALPHOTO.COM

Canadian Prime Minister Lester B. Pearson (left) with Betty and Stephen B. Roman in the mid-1960s.

to finance development of our Dasa project without the need for excessive share dilution.” Since Global Atomic started exploration in Niger in 2007, it has spent more than US$50 million on the exploration of four deposits. Though Dasa garnered the lion’s share of that work, the company is also advancing Tin Negouran (10 million lb. U308), Dajy (17 million lb. U308) and Isakanan (34 million lb. U308). (The figures are based on internal estimates.) Roman says the high-grade Flank Zone, which is just one small part of the much larger Dasa deposit, has been the company’s primary focus over the past year, with about 80% of the zone running at over 1% U308. In May, the company completed a preliminary economic assessment on the Flank Zone alone. The average blended grade of the Flank Zone, using a 2,300 ppm cut-off, is 5,396 ppm or over half a percent U3O8, which is five times higher than Denison’s Elliot Lake mines. Being high-grade and close to surface allows Global Atomic to start mining with low start-up costs, Roman says. The economics of the Flank Zone mine plan — or Phase 1 of the Dasa project — were based on US$35 per lb U308. The early-stage study outlined an after-tax net present value at an 8% discount rate of US$211 million, an after-tax internal rate of return of 26.6%, and all-in sustaining costs of US$18.38 per lb U308. Initial capex was estimated to run to US$203 million, including a 20% contingency. The mine would produce an average of 4.4 million lb. of yellowcake per year.

DENISON MINES

From left: George A. Flach, P.Geo., Vice President, Exploration, Director; Tim Campbell, Vice President & Secretary, and Stephen G. Roman, Chairman, President & CEO, at the Global Atomic Corporation Annual General Meeting on June 26, 2019. STAN SUDOL

Global Atomic estimates 12 years of production from this initial mining phase using ramp production and conventional underground mining techniques as well as proven processing technology, currently being used at existing uranium mines in Niger. Ultimately, the Phase 1 plan will lead to a Phase 2, which Global Atomic will continue to mine along strike and down dip and could entail mining for another fifty years, Roman says. “I think we have a tiger by the tail,” Roman says. “Our study confirms that the Dasa project can be a significant

new supplier of uranium in the form of yellowcake, even in this low-price environment. And our project is ranked in the lowest quartile of the global cost curve. Of course, if uranium prices increase to $40 to $50 in the next few years, we will have a lot of very, very happy shareholders.” Global Atomic signed a memorandum of understanding with Orano Mining in July 2017, to annually supply a minimum 100,000 tonnes of uranium-bearing rock to the French company’s Somaïr mill at its Arlit operations, about 100 km north of

W . N OR TH ER N M I N ER . COM

the Dasa project, for a minimum of five years. Discussions are ongoing and if successful, the arrangement would reduce upfront capital costs for the Dasa project. Roman feels that in the best interests of his shareholders, Global Atomic will eventually need to build its own processing plant. To that end, the company has shipped a bulk sample of mineralized material taken from Dasa drill core to Process Research Ortech, a Canadian company (formerly the Ontario Research Council), in Mississauga, Ontario. Process Research Ortech has extensive experience in uranium extraction and metallurgy and designing flow sheets. “We decided to run a pilot plant and have organized three processing campaigns,” Roman explains. “With each campaign we do more optimization and confirm the flow sheet design and reagents that we will ultimately use. Results of this work will be announced in the first quarter of 2021. Our initial assessments show the metallurgy is clean, the recoveries are good, and the acid consumption is low. We definitely have a very viable project with the flow sheet that we have developed.” The beginning of 2021 looks very busy for Global Atomic. In late December, Niger granted a coveted mining permit for Phase 1 of the Dasa project. The company is currently doing geotechnical drilling at Dasa so its rock mechanic consultants can complete a final mine design and layout. They want to get all the final design and engineering data completed by mid-2021 so that building of the mine can commence in early 2022. “In a best-case scenario, we would like to confirm long-term off-take agreements with utility companies, which would allow us to go to the capital markets from a position of strength and build our processing facility at the same time as our mine,” says Roman. “However, we are more than capable of starting smaller and focusing on mine development and trucking ore to nearby processing plants in the short term. Combined with steady cash flow from our Turkish zinc operation, we have the option to build the Dasa project in stages.” Coming full circle. Like father like son? In 1965, the Elliot Lake uranium mines were struggling to stay open. Stephen B. Roman had signed a deal with France’s Atomic Energy Commission for 100 million pounds of yellowcake worth between $700 and $800 million dollars — tens of billions today. It was stopped by Canadian Prime Minister Lester B. Person due to American pressure, and the refusal of French Prime Minister Charles De Gaulle to sign a guarantee that no Canadian uranium would be used for military purposes (the Nuclear Non-Proliferation Agreement). During an official visit to Montreal’s Expo ’67 while giving a speech to a large outdoor crowd, De Gaulle declared, “Vive le Québec libre!” Some feel it was political payback for Pearson’s behaviour during the uranium negotiations by a very proud but insulted De Gaulle and a French nation left without nuclear fuel. The French ultimately took the cash they would have spent on Elliot Lake uranium and went to Niger, where they found new deposits to supply 30% of Frances’ uranium. Fifty-five years later — depending on the success of Global Atomics’ marketing efforts — Stephen G. Roman might be selling uranium to France’s Orano for that country’s vast nuclear reactor fleet without government interference. One must admit, there seems to be some interesting irony and his father must be smiling approvingly. TNM Stan Sudol is a Toronto-based communications consultant, freelance mining columnist and owner–editor of www. republicofmining.com.

GLOBAL MINING NEWS

THE NORTHERN MINER / JANUARY 4—17, 2021

M E TA L S , M I N I N G A N D M O N EY M A R K E T S PRODUCER AND DEALER PRICES

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Dec 22 2020 (change from Dec 15, 2020 in brackets): Aluminium Alloy 4740 (-400) Aluminium 1383725 (+26350) Copper 119600 (-22300) Lead 133775 (+13775) Nickel 245064 (+828) Tin 2855 (-470) Zinc 206875 (-6550)

Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$54.35 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$11.55 Cobalt: US$14.52/lb. Copper: US$3.53/lb. Copper: CME Group Futures January 2021: US$3.59/lb.; February 2021: US$3.60/lb Iridium: NY Dealer Mid-mkt US$2,550.00/tr oz. Iron Ore 62% Fe CFR China-S: US$166.50 Lead: US$0.89/lb. Phosphate Rock: US$86.00/tonne Potash: US$226.00/tonne Rhodium: Mid-mkt US$16,650.00 tr. oz. Ruthenium: Mid-mkt US$270.00/tr. oz. Silver: Handy & Harman Base: US$25.79 per oz.; Handy & Harman Fabricated: US$32.23 per oz. Tin: US$9.20/lb. Uranium: U3O8, Trade Tech spot price: US$30.20 per lb. U308 Zinc: US$1.28/lb. Prices current Dec. 28, 2020

TSX WARRANTS the Issuer at $0.50 until expiry. Liberty Gold Corp. Wt (LGD.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry may 16, 2019 Lithium Americas Corp (LAC.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry Lydian International Limited (LYD.WT) One Warrant to purchase one additional ordinary share of the Issuer at $0.36 per share until expiry Nevada Copper Corp. (NCU.WT) - One Warrant to purchase one common share of the Issuer at $0.20 until expiry Nomad Royalty Company Ltd. (NSR.WT) One Warrant to purchase one common share of the Issuer at $1.71 until expiry. Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21 Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21

Alio Gold Inc. (ALO.WT) - 10 Warrants to purchase one common share of the Issuer at $7.00 until expiry Alio Gold Inc. J (ALO.WT.A) - One Warrant to purchase one common share of the Issuer at $8.00 until expiry Ascendant Resources (ASND.WT) - Wt buys sh @ $1.25 to Mar 7/22 eColbalt Solutions Inc. J (ECS.WT) - One Warrant to purchase one common share of the Issuer at US$1.95 per share until expiry Excellon Resources Inc (EXN.WT.A) - One warrant to purchase one common share of the Issuer at $2.80 until expiry Excellon Resources Inc. (EXN.WT) - One Warrant to purchase one common share of the issuer at $1.40 per share until expiry Gran Colombia Gold (GCM.WT.B) - One warrant to purchase one common share of the Issuer at $2.21 until expiry. Karora Resources Inc. (KRR.WT) - One Warrant to purchase one common share of

Osisko Gold Royalties (OR.WT) - Wt buys sh @ $36.5 to Feb 18/22 Platinum Group Metals Ltd. (PTM.WT.U) One Warrant to purchase one common share of the Issuer at US$0.17 until expiry Royal Nickel Corporation (RNX.WT) - One Warrant to purchase one common share of the Issuer at $0.50 until expiry. Sandstorm Gold (SSL.WT.B) - One Warrant to purchase one common share of the Issuer at US $14.00 until expiry. Sherritt International Corporation (S.WT) Each whole Warrant entitles the holder to acquire between 1.00 and 1.25 additional common shares (as bulletin 2018-0062 table ) determined based on the Applicable Reference Cobalt Price at an exercise price of $1.95 per Warrant at any time prior to the Expiry Date Sprott Resource Corp (SRHI.WT) - Wt buys sh @ $0.3333 to Feb 09/22

TSX VENTURE WARRANTS TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Nov 30, 2020 (with changes from Nov 15, 2020) Largest short positions New Gold NGD 18737929 518764 11/15/2020 Nexgen Energy NXE 12857889 -130239 11/15/2020 Premier Gold M PG 10664877 154472 11/15/2020 Suncor Energy SU 10241006 -4084388 11/15/2020 Trevali Mng TV 10152462 5833713 11/15/2020 Kinross Gold K 9600711 -171503 11/15/2020 Lundin Mng LUN 9347750 1085193 11/15/2020 Fortuna Silvr FVI 9143639 -144484 11/15/2020 Ivanhoe Mines IVN 8821699 -177964 11/15/2020 Argonaut Gold AR 7830034 1439910 11/15/2020 Barrick Gold ABX 7472245 -955077 11/15/2020 First Quantum FM 7401697 235530 11/15/2020 Wheaton Prec M WPM 7330406 -728583 11/15/2020 Endeavr Silver EDR 6477441 -171193 11/15/2020 Fission Uran FCU 6166886 -8587145 11/15/2020 Largest increase in short position Trevali Mng TV 10152462 5833713 11/15/2020 Argonaut Gold AR 7830034 1439910 11/15/2020 Teranga Gold TGZ 2820589 1108052 11/15/2020 Lundin Mng LUN 9347750 1085193 11/15/2020 Nthn Dynasty NDM 3766881 797892 11/15/2020 Largest decrease in short position Fission Uran FCU 6166886 -8587145 11/15/2020 Silver Eleph ELEF 1951463 -4928154 11/15/2020 Suncor Energy SU 10241006 -4084388 11/15/2020 Taseko Mines TKO 357574 -3507555 11/15/2020 Copper Mtn Mng CMMC 4262505 -1244193 11/15/2020

Short positions outstanding as of Nov 30, 2020 (with changes from Nov 15, 2020) Largest short positions AbraPlata Res ABRA 6874886 490638 Discovery Met DSV 4459981 -290930 Dolly Vard Sil DV 4251853 121392 Oceanus Res SLVR 4170208 203710 Novo Res NVO 2625781 2113315 IMPACT Silver IPT 2333371 -904162 Maple Gold MGM 2207285 1114022 Lion One Mtls LIO 2192695 118521 Emgold Mining EMR 1975416 1735718 Kincora Copper KCC 1945326 1906822 Southern Silvr SSV 1852156 -172220 Aurcana Silver AUN 1590855 -1031061 Leeta Gold HIVE 1415285 90700 Noram Vent NRM 1413919 980287 Uragold Bay Rs HPQ 1356916 57843 Largest increase in short position Novo Res NVO 2625781 2113315 Kincora Copper KCC 1945326 1906822 Emgold Mining EMR 1975416 1735718 Maple Gold MGM 2207285 1114022 Noram Vent NRM 1413919 980287 Largest decrease in short position Mako Mining MKO 77454 -4910844 Condor Res CN 37205 -1446598 First Cobalt FCC 104015 -1178060 Palladium One PDM 43133 -1174340 Aurcana Silver AUN 1590855 -1031061

11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020 11/15/2020

DAILY METAL PRICES Date Dec 25 Dec 24 Dec 23 Dec 22 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) Al Alloy ----/---1921/1893 1915/1893 1915/1893 Aluminum ----/---2022/2025.50 1999/2008.50 1993/2006.50 Copper ----/---7793/7811.50 7764.50/7784.50 7753/7777 Lead ----/---1956.50/1976 1955/1972.50 1932.50/1954 Nickel ----/---16951/17013 16691/16747 16913/16994 Tin ----/---20277/20100 20190/20025 20110/20014 Zinc ----/---2817/2845 2775/2803.50 2789/2822

1919/1890 2012.50/2023.50 7838.50/7858.50 1957/1973 17342/17416 20038/19932 2808/2835

PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.) Gold AM ----1872.55 1867.10 Gold PM --------1875 Silver ----25.78 25.32 Platinum ----1021.00 1009.00 Palladium ----2328.00 2330.00

1869.25 1880 26.16 989.00 2318.00

1873.30 1877.10 25.77 1019.00 2355.00

Dec 21

EXCHANGE RATES Date US$ in C$ C$ in US$

Dec 24 1.2860 0.7775

Dec 23 1.2844 0.7786

Dec 22 1.2893 0.7756

Dec 21 1.2854 0.7780

Exchange rates (Quote Media, December 24, 2020) C$ to AUS C$ to EURO C$ to YEN 1.0232 0.6381 80.5930 C$ to UK Pound C$ to China Yuan C$ to India Rupee 0.5733 5.0762 57.1713 US to AUS US to EURO US to YEN 1.3164 0.8208 103.6565 US to UK Pound US to China Yuan US to India Rupee 0.7371 6.5301 73.5580

Dec 18 1.2790 0.7819

C$ to Mex Peso 15.4610 C$ to Swiss Franc 0.6928 US to Mex Peso 19.8830 US to Swiss Franc 0.8912

ABE Resources Inc. (ABE.WT) - One warrant to purchase one common share at $0.15 per share. American Cumo Mining Corp. (MLY.RT) 2 rights and $0.07 are required to purchase one share Antioquia Gold Inc. (AGD.RT) - One (1) Right and $0.042 are required to purchase one share. Aurania Resources Ltd. (ARU.RT) - Fourteen (14) Rights exercisable for one common share at $2.70 per common share. Aurania Resources Ltd. (ARU.WT) - One warrant to purchase one common share at $5.50 per share. Avidian Gold Corp. (AVG.RT) - Three rights and $0.11 are required to purchase one Share. Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.50 per share. Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.30 per share. Caldas Gold Corp. (CGC.WT) - One warrant to purchase one common share at $2.75 per share. Cordoba Minerals Corp (CDB.WT) - One warrant to purchase one common share at $1.08 per share. Cordoba Minerals Corp (CDB.WT) - One warrant to purchase one common share at $1.08 per share. Cordoba Minerals Corp. (CDB.RT) - One (1) Right exercisable for One (1) Rights Share at $0.05 per Share. Equinox Gold Corp (EQX.WT) - One warrant to purchase one common share at

C$ to SA Rand 11.3477 C$ to S. Korea Won 856.2225 US to SA Rand 14.6038 US to S. Korea Won 1100.9100

181 New Highs AbraPlata Res AbraPlata Res* Aguila Amer Gd Aguila Amer Gd* Alphamin Res Alphamin Res * Altair Res Inc* Altamira Gold* Altius Mnrls Altius Mnrls * American Mang American Mang* Arbor Metals Ares Strategic Ares Strategic* AurCrest Gold* Avrupa Min Baselode Egy Bearclaw Cap Bell Copper Bell Copper* Benz Mining Benz Mining* Bitterroot Res Bitterroot Res* Black Iron Black Iron* Bold Ventures Brazil Min* C3 Metals Cache Explor Canterra Mnls

Canterra Mnls* Capella Min Capstone Mng CellCube Enrgy* Clean Comm* Cleghorn Mnls* Cleveland-Clif* Clifton Mng* Copper Fox Mtl Copper Fox Mtl* Copper Mtn Mng Copper Mtn Mng* Cyon Explor Cypress Dev Cypress Dev* Denison Mines Denison Mines* Discovery Min* District Metal District Metal* Dixie Gold E79 Res EnCore Energy Energy Fuels Energy Fuels* Erin Ventures* Eskay Mng Eskay Mng* Explorex Res Explorex Res* First Quantum Focus Graphite* Fortescue Met*

Dec 23 17593.57 841.89 1047.25 319.88 284.81

Dec 22 17552.46 829.97 1046.36 316.71 280.64

Dec 21 17500.89 822.69 1042.40 323.87 288.67

Dec 20

High 17970.51 845.78 1070.48 416.84 359.81

Low 11172.73 330.65 683.81 173.42 140.55

GLOBAL MINING NEWS · SINCE 1915

FundName Dec 24 ($) BMO Prec Mtls Fd A 27.44 BMO ZGD 80.51 BMO ZJG 78.38 CIBC Prec Metal Fd A 15.76 Dyn Prec Metls Fd A 13.57 Harvest HGGG 32.19 Horizons HEP 33.21 IG MacGbPreMetCl A 16.14 iShares XGD 20.05 Mac Prec Met Cl A 77.98 NBI PrecMetFd Invt 21.29 NPT Go&PrMinFd A 59.98 NPT SilverEquCl A 10.71 RBC GblPreMetFd A 63.40 RBC GblPreMetFd Adv 63.84 Sentry Pre Met Fd A 57.81 TD Prec Mtl Fd Inv 51.98

Kore Mining Kore Mining * Kuya Silver Kuya Silver* Labrador IOR Labrador IOR* Latin Metals Latin Metals* Liberty One Li Lundin Mng Makena Res* Mammoth Res Mega Uranium Mega Uranium* Metalex Vent Metalex Vent * Mining Global* Moneta Porcpn Moneta Porcpn* Montero Mg&Ex Montero Mg&Ex * Mount Gibson * Nevada Zinc Newlox Gold Nexgen Energy Nexgen Energy* NextSource Mat Nickel Rock Nickel Rock* Norseman Silv Nouveau Monde* Nrthn Lion* Nrthn Superior

Nrthn Superior* Ophir Gold* Orca Gold Orca Gold* Pantheon Vent Patriot Gold* Pershing Res* Plateau Energy* Prosper Gold QC Copper QC Copper* Riley Gold Rock Tech Lith Rock Tech Lith* Rodinia Lithm Sabina Gd&Slvr Sabina Gd&Slvr* Sable Res Sable Res* Saint Jean* Serengeti Res Southern Copp* Spruce Ridge R Standard Uran* Sterling Metal Sterling Metal* Strategic Res Strategic Res* Talon Metals Tanqueray Expl Tempus Res Tesoro Mnrls Timberline Res

Timberline Res* Tombill Mines Turquoise HIl Turquoise HIl* Ur-Energy Ur-Energy* Uragold Bay Rs Verde Res* Visible Gold M Visible Gold M* Visionary Gold Western U&V White Metal Rs ZEN Graphene ZEN Graphene* ZincX Res ZincX Res*

12 New Lows Amarc Res Arcturus Vent Capitan Mining Gentor Res* GK Resources Mojave Gold* Pampa Metals Pancontinental QC Copper* Riley Gold Western Mag Xplore Res

Dec 17 ($) 27.98 82.87 81.33 16.09 13.83 32.90 33.92 16.31 20.49 78.80 21.76 60.57 10.83 64.68 65.13 58.28 53.25

Change ($) -0.55 -2.36 -2.95 -0.33 -0.26 -0.71 -0.71 -0.16 -0.43 -0.81 -0.47 -0.59 -0.12 -1.28 -1.29 -0.47 -1.27

Change (%) -1.95 -2.85 -3.63 -2.06 -1.89 -2.16 -2.08 -1.01 -2.11 -1.03 -2.16 -0.97 -1.11 -1.98 -1.98 -0.81 -2.38

YTDChange (%) 16.21 19.00 18.41 21.04 48.52 25.92 12.15 31.78 19.29 32.82 24.05 38.61 40.82 35.28 35.26 43.90 17.98

MER (%) 2.41 0.61 0.60 2.43 2.73 0.94 0.83 2.63 0.61 2.52 2.46 3.19 2.98 2.10 2.09 2.32 2.27

TotalAssets (M$) 57.63 248.94 109.82 64.65 672.08 8.55 35.07 736.57 75.03 35.23 512.18 2.88 374.06 148.49

Re-Publishing License Own your moment in the press with a Re-Publishing License for any article printed in The Northern Miner or posted on our website. Basic Re-Publishing License cost: $525

Forum Energy Generation Min Gentor Res Gentor Res* Geomega Res Geomega Res* Giyani Gold Giyani Gold* Global Atomic Global Atomic* Golden Dawn Ml* Golden Mnls Golden Mnls* Golden Secret GoviEx Uranium GoviEx Uranium* Gratomic Gratomic* Great Atlantic Highland Copp* Highway 50 Gld Hinterland Mtl* Imperial Metal Imperial Metal* Intact Gold* Intl Cons Uran Intl Cons Uran* Inventus Mg Inventus Mg * Ivanhoe Mines Kestrel Gold Klondike Silv Klondike Silv*

CANADIAN GOLD MUTUAL FUNDS 52-week

Dec 24 17623.88 845.78 1048.98 320.74 286.53

Maple Gold Mines Ltd. (MGM.WT) - One warrant to purchase one common share at $0.40 per share Mexican Gold Corp. (MEX.WT) - One warrant to purchase one common share at $0.12 per share. Millennial Lithium Corp. (ML.WT) - One warrant to purchase one common share at $4.25 per share. Novo Resources Corp. (NVO.WT) - One warrant to purchase one common share at $4.40 per share. Orezone Gold Corporation (ORE.WT) One warrant to purchase one common share at $0.80 per share. Orezone Gold Corporation (ORE.WT) One warrant to purchase one common share at $0.80 per share. Sandfire Resources America Inc. (SFR.RT) Forty one (41) Rights exercisable for One (1) Share at $0.15 per Share. Sandfire Resources America Inc. (SFR.RT) Eight (8) Rights exercisable for One (1) share at $0.06 per unit. Tintina Resources Inc. (TAU.RT) - Nine(9) Rights exercisable for one share at $0.06 per share. Trek Mining (TREK.WT) - Wt buy sh @ $3.00 to Oct 06/21 Ucore Rare Metals Inc. (UCU.RT) - One (1) right exercisable for one share at $4.00 per share. Vision Lithium Inc. (VLI.WT) - One warrant to purchase one common share at $0.15 per share. Yellowhead Mining Inc. (YMI.RT) - One (1) Right and $0.12 are required to prchase one Share

NEW 52-WEEK HIGHS AND LOWS DECEMBER 21-24, 2020

NORTH AMERICAN STOCK EXCHANGE INDICES IndexName S&P/TSX Composite S&P/TSXV Composite S&P/TSX 60 S&P/TSX Global Gold DJ Precious Metals

$3.00 per share. Eros Resources Corp. (ERC.WT) - One (1) Right exercisable for (1) Unit at $0.05 per Unit. Falco Resources Ltd. (FPC.WT) - One warrant to purchase one common share at $1.70 per share. Firefox Gold Corp. (FFOX.WT) - One warrant to purchase one common share at $0.60 per share. Firefox Gold Corp. (FFOX.WT) - One warrant to purchase one common share at $3.00 per share. Goldstar Minerals (GDM.RT) - One Right to purchase one common share at $0.03 per share. Goldstar Minerals Inc. (GDM.RT) - One (1) Right and $0.05 are required to purchase one common share. JDL Gold Corp. (JDL.WT) - Wt buy sh @ $3.00 to Oct 06/21 Kootenay Silver Inc. (KTN.WT) - Wt buys sh @ $0.55 to Apr 21/21 LaSalle Exploration Corp. (LSX.WT) - One warrant to purchase one common share at $0.15 per share. LSC Lithium Corporation (LSC.RT) - One (1) right exercisable for One (1) Unit at $0.40 per Unit. Mako Mining Corp. (MKO.RT) - Rights exercisable for One (1) share at $0.10 per share. Mako Mining Corp. (MKO.WT.A) - One warrant to purchase one common share at $0.60 per share. Maple Gold Mines Ltd. (MGM.WT) - One warrant to purchase one common share at $0.40 per share

LEGEND

Contact:

A – Australian Securities Exchange

moliveira@ northernminer.com or 416-510-6768

L – London Stock Exchange

C – Canadian Stock Exchange N – New York Stock Exchange O – U.S. over-the-counter Q – NASDAQ or U.S. OTC T – Toronto Stock Exchange V – TSX Venture Exchange X – NYSE American *

– Denotes price in U.S.$

STAFF INVESTMENT POLICY The Northern Miner does not permit any editorial employee to ﬁle stories about companies in which the writer owns shares. Editorial employees are also not permitted to take part in initial public oﬀerings or to engage in short selling.

CONVERSIONS OF WEIGHTS & MEASURES 1 troy ounce = 31.1 grams 1 kilogram = 32.15 troy ounces 1 kilogram = 2.2046 pounds 1 (metric) tonne = 1,000 kilograms 1 (metric) tonne = 2,204.6 pounds 1 (short) ton = 2,000 pounds

1 (metric) tonne = 1.1023 (short) tons 1 gram per (metric) tonne = 0.02917 troy ounces per (short) ton = 0.03215 troy ounces per (metric) tonne 1 kilometre = 0.6214 miles 1 hectare = 2.47 acres

J AN U AR Y 4 — 1 7 , 2 0 2 1

/ TH E N OR TH ER N

M I N ER

(100s) Exc Volume

Week High

Low

Last

12-month Change

High Low

A 1911 Gold 1911 Gold* 79 Resources 79North A.I.S Res* A.I.S Res Abacus Mining* Abacus Mining Abcourt Mines Abcourt Mines* Aben Resources* Aben Resources Abitibi Royal* Abitibi Royal AbraPlata Res* AbraPlata Res Academy Metals* Academy Metals Adamera Min* Adamera Min Adex Mining Advance Gold Adventus Adventus* AEX Gold Affinity Metal* African Gold African Gold* African Min* African Rainb* Aftermath Silv* Agnico Eagle Agnico Eagle* AgriMinco* Aguila Amer Gd* Aguila Amer Gd AJN Resources Alamos Gold Alamos Gold* Alcoa* Aldebaran Res* Aldebaran Res Aldever Res Aldever Res* Alexandra Cap* Alexco Res* Alexco Res Alianza Min* Alianza Min Alien Metals* Allegiant Gold Allegiant Gold* Alliance Mng Alliance Res* Almaden Min* Almaden Min Almadex Min* Almadex Min Almonty Ind Almonty Ind * Aloro Mining* Aloro Mining Alpha Lithium Alpha Lithium* Alphamin Res * Alphamin Res Altai Resource Altai Resource* Altair Res Inc* Altair Res Inc Altamira Gold Altamira Gold* Altan Nevada Altan Rio Min Altiplano Met Altiplano Met* Altius Mnrls * Altius Mnrls Alto Ventures Alto Ventures* Altura Mining* Alturas Min Altus Strat* Altus Strat Alumina Ltd* ALX Resources ALX Resources* AM Resources Amani Gold* Amarc Res Amarc Res* Amarillo Gold Amarillo Gold* Amer Intl Vent* American Creek* American Creek American CuMo American CuMo* American Lith* American Lith American Mang* American Mang American Pac AmericanSierra* Americas Silvr Americas Silvr* Amerigo Res Amerigo Res* Amex Expl* Amex Expl Amilot Capital AMV Capital Anaconda Mng* Anaconda Mng Andes Gold* Andover Mng* Anfield Energy* Anfield Energy Angel Gold* Angel Gold Angkor Gold* Angkor Res Anglo American* Anglo American* Anglo Pac Grp AngloGold Ash* AngloGold Ash* Angus Gold* Angus Gold Antioquia Gold* Antioquia Gold Antler Gold * Antler Gold Antofagasta* Apollo Gold Apollo Gold* Appia Energy* Appia Energy Applied Min* Aquila Res* Aquila Res Arbor Metals Arch Resources* Archon Mineral Arctic Star* Arctic Star Arcturus Vent* Arcturus Vent Arcus Dev Grp* Arcus Dev Grp Arcwest Explor Arcwest Explor* Arena Min* Arena Min Ares Strategic Ares Strategic* Argentina Lith* Argentina Lith Argentum Silvr* Argentum Silvr Argo Gold Argo Gold* Argonaut Gold* Argonaut Gold Arian Res* Arianne Phosph Arianne Phosph* Arizona Metals* Arizona Metals Arizona Silver Arizona Silver* Armor Min

V O C C O V O V V O O V O V O V O V O V V V V O V O V O O O O T N O O V C T N N O V V O O X T O V O V O V D X T O V T O O V V O O V V O O V V O V V V O O T V O O V O V O V O V O V O V O O O V V O O V O V C O T X T O O V V V O T O O O V O V O V O O T O N O V O V O V O V O O C O O T V N V O V O V O V V O O V V O O V O V C O O T O V O O V V O V

166 158 60 152 66 538 248 206 352 39 430 411 3 10 2569 3376 1 251 614 2246 169 192 488 10 66 3 1118 231 636 0 1238 2096 2267 29 4 119 48 3315 9311 12622 13 35 6 1 1101 4010 668 1068 1250 142 172 191 108 1990 24348 2708 381 435 158 5 51 207 1432 3239 214 1053 257 1 6 8 1277 244 292 234 239 75 137 160 1131 1 79 272 1 23 44 288 116 18 442 82 20 1307 164 581 355 1445 1766 275 3513 2260 16260 14821 197 18 1353 4460 276 105 169 587 144 102 208 777 16 84 709 2983 41 460 22 261 1030 8 5 1 5522 17 20 46 109 34 76 1 1874 32 990 576 10020 400 319 415 1303 38 0 599 914 27218 6 12 480 112 20 660 3843 4245 42 334 28 63 528 27 258 2311 30 73 98 286 287 348 225 14

0.61 0.48 0.13 0.11 0.06 0.07 0.11 0.14 0.17 0.13 0.06 0.07 19.94 25.75 0.44 0.57 0.06 0.08 0.09 0.12 0.01 0.12 0.91 0.71 0.81 0.15 0.19 0.15 0.00 0.00 1.12 93.24 72.58 0.00 0.53 0.67 0.19 12.14 9.44 22.66 0.38 0.48 0.20 0.16 0.26 2.95 3.78 0.11 0.15 0.02 0.32 0.26 0.31 4.99 0.75 0.90 0.20 0.25 0.66 0.52 0.04 0.06 0.87 0.68 0.32 0.40 0.08 0.06 0.02 0.03 0.24 0.19 0.02 0.19 0.33 0.24 11.16 14.00 0.11 0.09 0.02 0.03 0.85 1.12 5.60 0.08 0.07 0.05 0.00 0.07 0.05 0.32 0.25 0.02 0.23 0.28 0.04 0.03 1.05 1.34 0.57 0.72 0.17 0.02 3.92 3.04 0.83 0.63 2.78 3.59 0.07 0.16 0.48 0.60 0.01 0.07 0.07 0.09 0.02 0.03 0.05 0.06 16.79 32.45 2.16 23.43 23.65 0.51 0.68 0.04 0.06 0.17 0.23 19.10 0.72 0.53 0.35 0.46 0.02 0.10 0.12 2.07 43.56 0.19 0.03 0.04 0.02 0.02 0.02 0.03 0.11 0.08 0.02 0.03 0.51 0.41 0.05 0.08 0.14 0.20 0.19 0.14 2.23 2.87 0.00 0.19 0.15 0.78 0.99 0.36 0.28 0.78

0.57 0.44 0.13 0.09 0.04 0.06 0.10 0.13 0.16 0.12 0.05 0.00 0.00 24.60 0.35 0.44 0.06 0.08 0.07 0.09 0.01 0.11 0.82 0.65 0.74 0.15 0.17 0.13 0.00 0.00 0.97 89.72 69.48 0.00 0.47 0.55 0.18 11.08 8.63 21.13 0.35 0.45 0.16 0.00 0.15 2.72 3.50 0.09 0.13 0.01 0.30 0.23 0.00 4.41 0.48 0.61 0.15 0.20 0.63 0.50 0.03 0.05 0.73 0.56 0.28 0.35 0.07 0.06 0.00 0.03 0.00 0.15 0.02 0.19 0.28 0.24 10.56 13.54 0.10 0.07 0.00 0.02 0.00 0.97 5.37 0.07 0.05 0.03 0.00 0.00 0.05 0.30 0.23 0.01 0.18 0.23 0.04 0.03 0.87 1.14 0.19 0.23 0.16 0.02 3.63 2.81 0.77 0.59 2.65 3.21 0.06 0.14 0.40 0.53 0.00 0.00 0.06 0.08 0.02 0.02 0.04 0.05 15.90 0.00 2.16 23.15 22.36 0.49 0.00 0.04 0.05 0.17 0.00 0.00 0.62 0.48 0.31 0.40 0.01 0.09 0.12 2.03 40.35 0.19 0.03 0.04 0.00 0.01 0.02 0.03 0.09 0.07 0.01 0.02 0.31 0.23 0.04 0.00 0.14 0.00 0.17 0.14 2.06 2.67 0.00 0.00 0.13 0.72 0.93 0.32 0.25 0.00

0.58 0.44 0.13 0.10 + 0.05 0.07 unch 0.10 + 0.13 0.17 unch 0.13 0.05 0.07 + 19.75 25.75 + 0.39 0.50 0.06 0.08 0.08 + 0.10 + 0.01 + 0.12 unch 0.83 0.67 0.75 0.15 + 0.17 0.13 0.00 unch 14.75 unch 1.04 91.64 + 71.49 0.00 unch 0.50 0.55 0.19 unch 11.28 8.81 21.96 0.35 + 0.45 0.20 + 0.16 0.19 + 2.94 + 3.75 + 0.11 + 0.14 unch 0.02 + 0.31 0.24 0.23 4.51 0.49 0.63 0.17 0.22 0.65 0.50 0.04 + 0.06 + 0.82 + 0.64 + 0.31 + 0.40 + 0.07 0.06 unch 0.02 + 0.03 unch 0.20 0.15 0.02 unch 0.19 unch 0.31 0.24 + 10.66 + 13.65 + 0.10 0.07 0.00 + 0.02 0.85 + 1.09 + 5.51 0.08 unch 0.06 0.05 + 0.00 0.07 unch 0.05 unch 0.31 unch 0.24 + 0.01 + 0.19 0.25 0.04 unch 0.03 0.98 1.26 0.27 + 0.35 + 0.17 unch 0.02 3.80 2.97 0.79 0.62 2.75 + 3.52 + 0.07 unch 0.14 unch 0.47 + 0.60 + 0.00 0.00 + 0.06 0.08 0.02 0.03 unch 0.04 0.06 unch 16.44 + 31.96 2.16 + 23.35 + 22.92 0.51 unch 0.66 0.04 + 0.05 unch 0.17 unch 0.21 19.10 0.67 + 0.52 + 0.34 0.44 0.02 + 0.09 0.12 unch 2.06 + 40.55 0.19 unch 0.03 unch 0.04 + 0.00 0.01 0.02 unch 0.03 unch 0.10 0.07 unch 0.02 + 0.03 unch 0.47 + 0.37 + 0.05 + 0.08 + 0.14 0.20 + 0.18 + 0.14 + 2.12 2.73 0.00 unch 0.19 + 0.15 + 0.74 0.94 0.36 + 0.26 0.62 -

0.01 0.98 0.23 0.02 1.22 0.16 0.01 0.15 0.10 0.01 0.25 0.08 0.01 0.07 0.01 0.00 0.10 0.02 0.00 0.21 0.04 0.01 0.29 0.06 0.00 0.24 0.04 0.01 0.18 0.03 0.00 0.12 0.03 0.01 0.16 0.05 0.21 20.45 7.68 0.39 26.75 11.10 0.02 0.44 0.03 0.02 0.57 0.04 0.00 0.14 0.06 0.01 0.22 0.06 0.00 0.12 0.02 0.01 0.16 0.02 0.01 0.01 0.01 0.00 0.29 0.03 0.07 1.60 0.52 0.04 1.18 0.36 0.04 1.20 0.37 0.01 0.37 0.12 0.02 0.38 0.10 0.01 0.28 0.07 0.00 0.01 0.00 0.00 14.75 5.00 0.00 1.13 0.06 0.05 117.35 43.25 0.08 89.23 31.00 0.00 0.00 0.00 0.01 0.53 0.12 0.08 0.67 0.12 0.00 1.34 0.17 0.65 15.52 4.43 0.44 11.58 3.34 0.05 24.17 5.16 0.00 0.52 0.17 0.01 0.74 0.16 0.04 0.22 0.05 0.00 0.16 0.01 0.00 0.54 0.06 0.21 3.50 0.72 0.27 4.65 1.00 0.00 0.16 0.03 0.00 0.21 0.03 0.00 0.04 0.00 0.01 0.71 0.09 0.01 0.56 0.05 0.09 0.63 0.13 0.52 12.02 2.63 0.28 1.24 0.21 0.37 1.60 0.31 0.01 0.29 0.05 0.01 0.36 0.12 0.02 0.81 0.28 0.03 0.61 0.24 0.00 0.19 0.01 0.01 0.12 0.03 0.04 1.45 0.27 0.03 1.13 0.23 0.00 0.32 0.09 0.01 0.40 0.12 0.01 0.14 0.03 0.00 0.11 0.02 0.01 0.02 0.00 0.00 0.04 0.01 0.03 0.26 0.04 0.03 0.19 0.02 0.00 0.03 0.01 0.00 0.19 0.03 0.02 0.39 0.02 0.00 0.31 0.05 0.07 11.16 4.33 0.09 14.00 6.29 0.01 0.24 0.09 0.02 0.18 0.04 0.00 0.12 0.00 0.01 0.03 0.01 0.07 21.22 0.35 0.13 1.36 0.34 0.03 6.57 3.09 0.00 0.10 0.02 0.00 0.07 0.01 0.01 0.07 0.03 0.00 0.05 0.00 0.00 0.10 0.02 0.00 0.07 0.02 0.00 0.42 0.10 0.00 0.31 0.08 0.00 0.02 0.00 0.02 0.38 0.02 0.02 0.50 0.04 0.00 0.06 0.03 0.00 0.08 0.00 0.01 2.19 0.08 0.01 2.98 0.12 0.08 0.57 0.07 0.10 0.72 0.10 0.00 0.62 0.06 0.00 0.05 0.01 0.04 5.12 1.39 0.02 3.90 1.00 0.04 0.86 0.12 0.02 0.67 0.08 0.13 2.98 0.64 0.08 3.98 0.86 0.00 0.08 0.01 0.00 0.26 0.07 0.03 0.59 0.07 0.06 0.78 0.10 0.00 0.02 0.00 0.00 0.07 0.00 0.00 0.12 0.03 0.01 0.16 0.04 0.00 0.05 0.00 0.00 0.07 0.01 0.00 0.08 0.02 0.00 0.10 0.01 0.04 17.15 5.91 0.39 34.50 12.56 0.02 3.30 1.75 0.25 38.94 15.44 0.25 38.50 12.66 0.00 1.16 0.43 0.02 1.51 0.21 0.01 0.07 0.01 0.00 0.09 0.02 0.00 0.38 0.01 0.01 0.49 0.02 0.55 19.65 7.30 0.05 1.68 0.04 0.04 0.91 0.39 0.02 0.43 0.07 0.02 0.57 0.10 0.01 0.03 0.00 0.00 0.15 0.05 0.00 0.22 0.07 0.03 2.07 0.04 1.81 75.27 21.80 0.00 0.41 0.10 0.00 0.09 0.02 0.01 0.12 0.02 0.00 0.43 0.00 0.01 0.29 0.01 0.00 0.03 0.01 0.00 0.04 0.01 0.01 0.21 0.04 0.00 0.15 0.03 0.00 0.04 0.01 0.00 0.05 0.02 0.15 0.51 0.07 0.13 0.41 0.05 0.00 0.10 0.02 0.01 0.13 0.04 0.00 0.23 0.11 0.03 0.31 0.14 0.01 0.35 0.04 0.00 0.24 0.06 0.04 2.63 0.53 0.08 3.42 0.76 0.00 0.00 0.00 0.01 0.34 0.13 0.01 0.25 0.10 0.01 0.78 0.46 0.01 1.04 0.23 0.01 0.41 0.11 0.01 0.33 0.08 0.15 0.97 0.32

W . N OR TH ER N M I N ER . COM

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: DECEMBER 20–24, 2020

Stock

(100s) Stock

Exc Volume

Week Low

4.54 4.90 + 5.82 6.40 + 0.09 0.09 unch 0.11 0.12 + 0.64 0.64 unch 0.10 0.10 unch 0.17 0.17 1.28 1.34 1.00 1.05 0.02 0.02 0.03 0.03 unch 0.00 0.25 unch 0.03 0.04 + 0.04 0.05 unch 0.15 0.17 + 0.20 0.22 + 0.01 0.01 + 3.83 3.83 + 0.09 0.10 0.00 0.14 unch 0.05 0.07 + 0.40 0.42 0.53 0.54 0.00 0.00 + 0.02 0.02 unch 0.00 0.32 + 0.00 0.22 + 0.00 11.00 + 13.00 14.10 + 2.40 2.40 3.06 3.18 0.93 0.96 0.72 0.75 0.08 0.08 unch 0.07 0.07 + 0.05 0.06 + 0.05 0.05 + 0.83 0.89 1.12 1.14 0.05 0.05 + 0.08 0.10 + 0.18 0.23 + 0.01 0.01 + 0.05 0.18 + 0.19 0.19 0.20 0.21 + 0.16 0.16 + 0.36 0.42 + 0.28 0.31 + 0.07 0.09 + 0.10 0.11 + 0.03 0.03 unch 0.16 0.19 0.23 0.24 + 1.13 1.27 + 1.42 1.59 + 0.02 0.02 0.03 0.13 + 0.09 0.10 + 0.08 0.09 + 0.06 0.06 + 2.76 2.82 + 0.04 0.05 + 0.00 0.07 unch 0.24 0.25 0.19 0.20 0.93 1.04 + 0.73 0.82 + 0.03 0.03 0.03 0.04 unch 0.27 0.35 + 0.20 0.27 + 0.00 0.00 + 0.13 0.14 0.10 0.11 -

Artemis Gold* Artemis Gold Asante Gold* Asante Gold Asbestos Corp Ascendant Res* Ascendant Res Ascot Res Ascot Res * Ashanti Sanko* Ashanti Sanko AsiaBaseMetals Aston Bay* Aston Bay ATAC Res* ATAC Res Atacama Res* Atalaya Mining Athabasca Min* Athabasca Min Athena Silver* Atico Mining* Atico Mining Atlanta Gold* Atlantic Indus Aton Resources Aton Resources* Aura Minerals* Aura Minerals Aurania Res* Aurania Res Aurcana Silver Aurcana Silver* AurCrest Gold AurCrest Gold* Aurelius Min Aurelius Min* Aurion Res * Aurion Res Aurora Royal Aurwest Res AURYN Mining* Aust Mines* Austral Gold* Austral Gold AUX Resources AUX Resources* Auxico Res Auxico Res* Avalon Advance* Avalon Advance Avarone Metals* Avidian Gold* Avidian Gold Avino Silver* Avino Silver Avrupa Min* Avrupa Min Awale Res Axmin Inc Axmin Inc* Aya Gold* Azarga Metals* Azarga Metals Azarga Uranium Azarga Uranium* Azimut Explor Azimut Explor* Azincourt Ener* Azincourt Ener Aztec Minerals Aztec Minerals* Azteca Gold* Azucar Min Azucar Min*

O V O C V O T T O O V V O V O V O T O V O O V O V V O O T O V V O V O V O O V V C O O O V V O C O O T O O V X T O V V V O O O V T O V O O V V O O V O

28 144 120 390 50 40 422 571 226 51 201 1 235 1217 673 1061 7779 4 1 76 36 39 199 110 400 21 5 1 29 51 122 2107 1843 155 800 3460 138 135 84 24 579 40 107 77 79 154 120 1178 60 1696 3671 44 57 146 5470 492 480 204 370 151 176 35 124 14 2857 1454 220 95 511 1689 858 637 334 527 631

5.08 6.57 0.10 0.12 0.65 0.10 0.18 1.40 1.10 0.02 0.03 0.00 0.04 0.05 0.17 0.22 0.01 3.97 0.10 0.15 0.07 0.44 0.56 0.00 0.02 0.32 0.23 11.00 14.50 2.64 3.45 1.01 0.79 0.09 0.07 0.06 0.05 0.92 1.18 0.05 0.10 0.23 0.01 0.33 0.21 0.22 0.17 0.42 0.31 0.09 0.12 0.03 0.20 0.25 1.29 1.65 0.03 0.13 0.10 0.09 0.06 2.88 0.05 0.07 0.26 0.21 1.04 0.82 0.03 0.04 0.36 0.29 0.00 0.16 0.13

B2Gold Corp* B2Gold Corp Balto Res Bam Bam Res Bam Bam Res* Bannerman Res* Banyan Gold Banyan Gold* Barksdale Res* Barksdale Res Baroyeca Gold Barrick Gold* Barrick Gold Barsele Min* Barsele Min Baru Gold Baru Gold* Baselode Egy* Baselode Egy Batero Gold Batero Gold* Battle North* Battle North Bayhorse Silvr Bayhorse Silvr* BC Moly * BC Moly BCM Res Bear Creek Mng Bear Creek Mng* Bearclaw Cap Bearing Lith Bearing Lith* Beauce Gold Bell Copper Bell Copper* Belmont Res Belo Sun Mng Belo Sun Mng* BeMetals * BeMetals Benchmark Met* Benchmark Met Benton Res Benton Res* Benz Mining Benz Mining* Bessor Min Bird River Res Bitterroot Res* Bitterroot Res Black Dragon* Black Hills* Black Iron* Black Iron Black Mammoth* Black Mammoth Black Mountain Black Tusk Res* Black Tusk Res Blackheath Res Blackrock Gold Blackrock Gold* Blind Creek BLOX Inc* Blue Lagoon Blue Lagoon* Blue Moon Zinc* Blue Moon Zinc Blue River Res Blue River Res* Blue Sky Uran* Blue Sky Uran Blue Star Gold* Blue Star Gold Blue Thunder BlueBird Batt BlueBird Batt* Bluestone Res Bluestone Res* BMEX Gold Bold Ventures* Bold Ventures Bonanza Gold* Bond Resources BonTerra Res Boreal Metals Boreal Metals * Borneo Res Inv* Boundary Gold* Boundary Gold Bravada Gold* Bravada Gold Braveheart Res* Braveheart Res Bravo Multinat* Brazil Min*

X 17866 T 8991 V 256 C 33 O 0 O 2992 V 747 O 163 O 89 V 221 V 34 N 57134 T 11083 O 1 V 43 V 631 O 163 O 232 V 471 V 61 O 59 O 150 T 339 V 945 O 179 O 4 V 4 V 57 V 286 O 154 V 123 V 260 O 21 V 171 V 661 O 101 V 138 T 376 O 1481 O 0 V 37 O 95 V 241 V 295 O 330 V 544 O 78 V 64 C 179 O 146 V 380 O 17 N 1247 O 441 T 5780 O 2 V 5 V 8 O 166 C 4523 V 44 V 1392 O 1389 V 19 O 3615 C 1381 O 918 O 319 V 1012 V 387 O 55 O 513 V 844 O 41 V 364 V 386 V 1024 O 970 V 201 O 116 V 342 O 40 V 243 O 46099 C 381 V 382 V 764 O 322 O 19940 O 156 V 63 O 136 V 327 O 253 V 679 O 3 O 368217

5.74 7.38 0.09 0.89 0.00 0.07 0.28 0.22 0.43 0.54 0.30 23.41 30.07 0.48 0.64 0.14 0.11 0.92 1.10 0.11 0.08 1.61 2.10 0.11 0.08 0.04 0.06 0.08 3.22 2.47 0.30 0.18 0.13 0.12 0.45 0.32 0.07 1.05 0.85 0.00 0.38 0.89 1.15 0.19 0.15 1.23 0.95 0.05 0.11 0.09 0.11 0.03 60.87 0.29 0.39 0.08 0.16 0.40 0.05 0.06 0.19 0.95 0.74 0.11 0.01 0.74 0.58 0.06 0.08 0.02 0.01 0.15 0.18 0.06 0.08 0.13 0.25 0.21 1.94 1.51 0.65 0.05 0.09 0.00 0.18 1.38 0.08 0.08 0.00 0.04 0.04 0.12 0.15 0.12 0.15 0.18 0.00

Last

12-month

High

Change

Stock

0.10 0.30 0.00 0.01 0.00 0.00 0.01 0.04 0.03 0.00 0.00 0.00 0.00 0.00 0.03 0.03 0.00 0.02 0.00 0.00 0.01 0.01 0.02 0.00 0.00 0.02 0.02 0.04 0.10 0.20 0.03 0.01 0.01 0.00 0.01 0.01 0.01 0.00 0.02 0.01 0.03 0.05 0.00 0.10 0.02 0.01 0.00 0.06 0.09 0.01 0.01 0.00 0.01 0.01 0.15 0.17 0.07 0.01 0.01 0.01 0.00 0.01 0.00 0.00 0.02 0.02 0.06 0.03 0.00 0.00 0.09 0.06 0.00 0.02 0.01

5.63 7.64 0.10 0.14 0.99 0.30 0.41 1.40 1.10 0.05 0.10 0.64 0.09 0.13 0.30 0.40 0.02 3.97 0.29 0.38 0.15 0.50 0.67 0.08 0.03 0.65 0.40 18.11 18.30 4.31 5.75 1.19 0.92 0.09 0.07 0.14 0.10 1.72 2.14 0.08 0.10 0.60 0.02 0.69 0.38 0.56 0.39 0.45 0.35 0.10 0.13 0.06 0.35 0.48 1.49 2.04 0.17 0.20 0.22 0.41 0.30 2.94 0.10 0.20 0.32 0.25 3.27 2.35 0.05 0.06 0.70 0.53 0.00 0.27 0.20

0.60 0.95 0.02 0.02 0.30 0.06 0.08 0.37 0.26 0.01 0.01 0.18 0.03 0.04 0.08 0.11 0.00 1.79 0.06 0.08 0.01 0.11 0.16 0.00 0.01 0.20 0.10 1.23 1.71 1.03 1.51 0.15 0.11 0.02 0.01 0.02 0.04 0.29 0.42 0.02 0.01 0.06 0.00 0.02 0.08 0.00 0.14 0.02 0.22 0.02 0.03 0.02 0.13 0.05 0.26 0.27 0.02 0.04 0.04 0.07 0.05 0.65 0.04 0.05 0.07 0.05 0.50 0.38 0.01 0.02 0.04 0.03 0.00 0.08 0.05

Brigadier Gold* Brigadier Gold BrightRock* Britannia Mng* Brixton Metals Brixton Metals* Brunswick Expl Bryn Res* BTU Metals* BTU Metals Buenaventura* Buffalo Coal Buffalo Coal * Bullfrog Gold Bullfrog Gold* Bullion Gold* Bunker Hill Bushveld Min* BWR Explor

O V O O V O V O O V N V O C O O C O V

0.01 0.02 0.00 0.01 0.00 0.01 0.01 0.00 0.04 0.03 0.03 0.37 0.38 0.03 0.07 0.00 0.01 0.28 0.38 0.01 0.01 0.03 0.12 0.01 0.00 0.00 0.00 0.01 0.05 0.05 0.05 0.02 0.00 0.00 0.08 0.10 0.01 0.00 0.02 0.00 0.00 0.03 0.03 0.01 0.02 0.28 0.27 0.00 0.02 0.01 0.01 0.00 0.74 0.02 0.04 0.00 0.03 0.01 0.00 0.00 0.00 0.13 0.11 0.01 0.00 0.04 0.02 0.00 0.01 0.00 0.00 0.01 0.02 0.01 0.00 0.01 0.04 0.05 0.03 0.03 0.07 0.00 0.01 0.00 0.02 0.05 0.01 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01 0.07 0.00

7.55 9.99 0.15 1.60 1.03 0.08 0.39 0.90 0.54 0.70 0.32 31.22 41.09 0.58 0.75 0.24 0.21 0.95 0.95 0.13 0.10 1.74 2.28 0.24 0.17 0.04 0.09 0.08 4.17 3.04 0.60 0.25 0.21 0.22 0.45 0.32 0.10 1.44 1.10 0.42 0.57 1.22 1.64 0.30 0.22 1.10 0.95 0.10 0.24 0.09 0.11 0.07 87.12 0.29 0.39 0.12 0.17 0.45 0.08 0.10 0.24 1.61 1.22 0.27 0.28 2.11 1.45 0.06 0.08 0.02 0.01 0.17 0.23 0.12 0.16 0.20 0.40 0.22 2.43 1.84 1.05 0.06 0.08 0.01 0.43 2.31 0.14 0.17 0.00 0.08 0.08 0.19 0.25 0.13 0.17 0.45 0.00

2.16 3.12 0.03 0.25 0.19 0.01 0.03 0.02 0.14 0.21 0.03 12.65 17.52 0.07 0.11 0.02 0.02 0.23 0.15 0.05 0.03 0.37 0.54 0.05 0.03 0.04 0.03 0.02 0.75 0.50 0.10 0.06 0.06 0.06 0.01 0.02 0.02 0.21 0.18 0.09 0.12 0.12 0.17 0.04 0.03 0.05 0.05 0.03 0.04 0.02 0.03 0.00 48.07 0.03 0.05 0.02 0.04 0.35 0.03 0.04 0.07 0.07 0.05 0.02 0.00 0.43 0.27 0.00 0.01 0.01 0.00 0.03 0.05 0.04 0.04 0.06 0.08 0.16 0.99 0.75 0.08 0.00 0.03 0.00 0.15 0.63 0.03 0.03 0.00 0.00 0.01 0.03 0.05 0.03 0.05 0.05 0.00

C2C Gold* C3 Metals* C3 Metals Cabral Gold* Cabral Gold Cache Explor Cache Explor* Cadillac Vent* Cadillac Vent Caelan Capital* Caldas Gold* Caldas Gold Caledonia Mng* Calibre Mng* Calibre Mng California Gld California Gld* Callinex Mines* Callinex Mines Cameco Corp* Cameco Corp Cameo Cobalt* Camino Min Camino Min* Camrova Res* Canada Carbon Canada Carbon* Canada Nickel Canada Nickel* Canada One Canada One* Canada Rare Canada Rare* Canada Silver Canada Silver* Canadian Metal Canadian Prem* Canadian Prem Canadian Silv Canagold Res Canagold Res* CanAlaska Uran CanAlaska Uran* Canamex Gold* Canasil Res Candelaria Mg* Candelaria Mg Candente Coppr Candente Gold* Candente Gold CANEX Metals * CANEX Metals CaNickel Mng* CaNickel Mng Canoe Mng Vent Canstar Res* Canstar Res Canterra Mnls* Canterra Mnls Cantex Mn Dev* Cantex Mn Dev Canuc Res* Canuc Res Capella Min* Capella Min Capitan Mining Capitan Mining* Capstone Mng Cardero Res* Cardero Res Cardinal Res* Cardinal Res Cariboo Rose Carlin Gold Carlyle Comm* Carrara Explor Cartier Iron Cartier Res* Cartier Res Casa Minerals Casa Minerals * Cascadero Copp Cassiar Gold Cassius Vents Castle Peak Mg CAT Strategic Cdn Goldcamps Cdn Goldcamps* Cdn Palladium* Cdn Palladium CellCube Enrgy* Centamin Centaurus Diam* Centerra Gold Central Afric Central Afric* Central Iron Century Cobalt* Century Global* Century Global Cerro de Pasc * Cerro de Pasc Cerro Grande* Cerro Grande Ceylon Graph Chakana Copper Chakana Copper* Chalice Gold M* Champion Bear* Champion Bear Champion Iron* Champion Iron Chatham Rock Chatham Rock* Chesapeake Gld* Chesapeake Gld Chevron Corp* Chiboug Ind Mn Chiboug Ind Mn* Chilean Metals Chilean Metals* China Gold Int Clarity Gold Clarity Gold* Class 1 Nickel Clean Air Met Clean Comm* Cleghorn Mnls Cleghorn Mnls* Cleveland-Clif* Cliffmont Res Clifton Mng* CMC Metals CMC Metals* CNRP Mng Cobalt Block* Cobalt Block Coeur Mng* Colibri Res Colibri Res* Colombia Crest Colonial Coal Comet Inds Commander Res* Commander Res Commerce Res Commerce Res* Compass Gold* Compass Gold Comstock Mng* Comstock Mtls Comstock Mtls * Condor Gold*

O O V O V V O O V O O V X O T C O O V N T O V O O V O V O V O V O V O C O V V T O V O O V O V T O V O V O V V O V O V O V O V O V V O T O V O T V V O C C O V V O V V V V C C O O C O T O T V O V O O T O C O C V V O O O V O T V O O V N V O V O T C O C V O V O N V O V O C O V N V O V V V O V V O O V X V O O

B 5.48 5.60 + 7.08 7.18 + 0.08 0.08 unch 0.00 0.89 + 0.00 0.68 unch 0.05 0.07 + 0.26 0.27 0.18 0.21 + 0.38 0.39 0.49 0.49 0.25 0.30 + 22.26 22.90 28.76 29.37 0.00 0.48 + 0.55 0.64 + 0.13 0.14 unch 0.10 0.10 0.57 0.85 + 0.72 1.10 + 0.10 0.10 0.07 0.08 + 1.47 1.54 + 1.87 2.06 + 0.10 0.10 0.07 0.08 + 0.04 0.04 unch 0.06 0.06 unch 0.07 0.08 + 2.89 3.06 + 2.24 2.38 + + 0.23 0.27 0.15 0.15 0.11 0.12 0.11 0.12 unch 0.30 0.37 + 0.24 0.32 + 0.06 0.06 0.98 1.01 unch 0.75 0.77 0.00 0.30 unch 0.36 0.37 unch 0.82 0.89 + 1.05 1.12 + 0.17 0.19 + 0.12 0.14 0.77 1.12 + 0.65 0.90 + 0.05 0.05 unch 0.09 0.09 0.07 0.08 + 0.10 0.11 + 0.03 0.03 unch 57.20 59.95 0.23 0.25 0.30 0.32 0.00 0.08 0.00 0.16 + 0.40 0.40 0.04 0.05 + 0.05 0.06 unch 0.19 0.19 unch 0.81 0.92 + 0.63 0.73 + 0.10 0.10 0.00 0.00 0.68 0.71 + 0.53 0.55 + 0.05 0.05 0.07 0.07 + 0.01 0.01 unch 0.01 0.01 unch 0.12 0.13 0.15 0.17 0.05 0.05 0.07 0.08 unch 0.11 0.12 0.21 0.21 0.16 0.16 1.84 1.86 1.43 1.46 0.52 0.60 0.05 0.05 unch 0.07 0.08 + 0.00 0.00 0.17 0.18 + 1.18 1.24 0.08 0.08 0.06 0.07 + 0.00 0.00 0.02 0.03 + 0.00 0.04 + 0.10 0.11 0.13 0.14 0.10 0.11 + 0.14 0.15 + 0.11 0.18 + 0.00 0.00 +

(100s)

High Low

Exc Volume

Week Last

12-month

High

Low

Change

293 800 26 327 1018 1112 44 2 62 1266 2386 990 20 1056 616 15 387 111 718

0.19 0.24 0.03 0.01 0.28 0.22 0.24 0.02 0.14 0.18 13.07 0.03 0.02 0.34 0.26 0.19 0.60 0.35 0.05

0.17 0.18 0.23 0.24 + 0.00 0.02 0.00 0.00 + 0.26 0.27 0.20 0.21 0.23 0.24 + 0.02 0.02 unch 0.11 0.12 0.15 0.16 11.91 12.26 0.01 0.02 0.02 0.02 unch 0.28 0.34 + 0.21 0.26 + 0.14 0.14 0.50 0.59 + 0.20 0.26 + 0.04 0.05 +

90 10 2070 119 559 3753 3173 9 40 20 52 125 186 129 956 434 8 92 67 13070 4220 31 675 9 5 121 28 1029 241 24 1 613 265 801 503 259 50 25 43 212 567 749 678 111 335 0 64 267 1 494 38 124 6 55 38 110 255 41 493 6 157 8 153 48 1561 152 110 2329 10 212 2 893 72 60 23 1549 182 269 619 776 20 168 349 16 129 868 98 2 356 311 6246 145 26 3096 36 41 413 168 8 11 41 401 46 146 467 296 356 38 4 133 342 2213 187 0 39 68 30569 173 1 261 78 120 122 5 82 553 270 115 12 34138 35 129 2301 556 1478 92 273 16797 354 1 40 217 40 205 479 388 94 9 13 1337 451 20 7

0.14 0.07 0.12 0.57 0.73 0.28 0.22 0.01 0.02 0.19 1.81 2.32 16.40 1.97 2.51 0.17 0.12 2.06 2.61 14.07 18.06 0.16 0.11 0.09 0.08 0.19 0.16 2.00 1.64 0.05 0.03 0.10 0.08 0.53 0.41 0.10 0.13 0.16 0.07 0.87 0.15 0.44 0.34 0.03 0.12 0.00 0.54 0.11 0.05 0.06 0.13 0.16 0.10 0.12 0.14 0.24 0.32 0.35 0.48 0.69 0.91 0.18 0.22 0.09 0.12 0.32 0.25 2.43 0.05 0.06 0.81 1.05 0.08 0.06 0.14 0.04 0.14 0.21 0.26 0.17 0.15 0.04 0.77 0.08 0.01 0.06 0.11 0.09 0.14 0.17 0.08 2.16 0.06 15.61 0.25 0.17 0.05 0.02 0.22 0.18 0.32 0.42 0.01 0.02 0.24 0.62 0.48 2.83 0.10 0.12 3.76 4.86 0.11 0.00 4.50 5.73 86.84 0.16 0.12 0.28 0.18 1.98 1.21 0.94 0.99 0.39 0.23 0.11 0.08 14.65 0.11 0.24 0.21 0.17 0.64 0.06 0.07 10.08 0.08 0.06 0.25 0.94 2.90 0.15 0.19 0.27 0.21 0.19 0.23 1.07 0.11 0.10 0.71

Stock

0.01 0.01 0.01 0.00 0.01 0.01 0.01 0.00 0.02 0.02 0.52 0.01 0.00 0.05 0.03 0.05 0.03 0.05 0.01

0.45 0.62 0.04 0.03 0.57 0.42 0.27 0.06 1.00 0.43 15.45 0.03 0.02 0.36 0.28 0.19 1.01 0.60 0.06

0.07 0.05 0.00 0.00 0.08 0.05 0.05 0.02 0.00 0.10 5.12 0.01 0.00 0.08 0.05 0.01 0.10 0.00 0.02

0.00 0.01 0.03 0.02 0.03 0.07 0.05 0.00 0.00 0.00 0.08 0.03 0.06 0.05 0.05 0.02 0.01 0.05 0.06 0.18 0.18 0.02 0.00 0.00 0.01 0.00 0.00 0.06 0.07 0.01 0.01 0.00 0.00 0.03 0.01 0.01 0.00 0.00 0.01 0.06 0.00 0.04 0.03 0.00 0.01 0.00 0.01 0.01 0.01 0.00 0.01 0.01 0.02 0.01 0.00 0.01 0.01 0.17 0.07 0.03 0.05 0.00 0.03 0.00 0.01 0.01 0.00 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.02 0.02 0.01 0.00 0.01 0.01 0.00 0.00 0.02 0.01 0.00 0.00 0.01 0.04 0.06 0.01 0.12 0.02 0.01 0.01 0.00 0.00 0.02 0.03 0.03 0.02 0.00 0.02 0.02 0.02 0.03 0.00 0.00 0.03 0.01 0.01 0.00 0.34 0.35 1.86 0.01 0.00 0.04 0.00 0.11 0.04 0.03 0.14 0.02 0.06 0.02 0.01 0.67 0.03 0.04 0.03 0.02 0.06 0.01 0.01 0.15 0.01 0.00 0.03 0.06 0.00 0.01 0.01 0.00 0.01 0.01 0.02 0.07 0.00 0.00 0.11

0.17 0.08 0.09 0.70 0.88 0.24 2.08 0.04 0.05 1.00 9.60 3.07 29.39 2.40 2.80 0.40 0.30 3.10 4.15 14.42 18.38 0.25 0.19 0.15 0.10 0.39 0.28 3.00 2.24 0.06 0.05 0.12 0.09 0.73 0.57 0.18 0.39 0.70 0.16 0.95 0.15 0.50 0.39 0.07 0.26 0.46 0.66 0.12 0.08 0.11 0.25 0.33 0.19 0.27 0.30 0.26 0.33 0.35 0.48 1.29 1.76 0.19 0.26 0.09 0.12 0.50 2.00 2.43 0.07 0.07 0.81 1.05 0.10 0.07 0.33 0.10 0.14 0.30 0.33 0.18 0.15 0.06 1.20 0.10 0.03 0.06 0.55 0.35 0.18 0.23 0.08 4.04 0.10 19.59 0.43 0.34 0.25 0.03 0.22 0.28 0.41 0.54 0.05 0.06 0.32 0.80 0.61 3.25 0.16 0.27 3.94 5.02 0.32 0.18 5.75 7.61 122.72 0.17 0.12 0.29 0.19 2.00 1.31 1.10 1.10 0.47 0.21 0.12 0.08 14.65 0.13 0.24 0.22 0.18 0.77 0.06 0.08 11.43 0.10 0.07 0.34 0.94 3.40 0.15 0.19 0.38 0.26 0.50 0.65 2.12 0.18 0.17 2.59

0.01 0.03 0.01 0.05 0.07 0.04 0.00 0.00 0.01 0.06 1.30 1.30 6.51 0.00 0.46 0.11 0.08 0.22 0.32 5.30 7.69 0.00 0.08 0.05 0.00 0.07 0.06 0.38 0.67 0.02 0.01 0.03 0.02 0.25 0.18 0.01 0.12 0.10 0.05 0.03 0.02 0.09 0.06 0.00 0.05 0.03 0.05 0.02 0.01 0.01 0.07 0.10 0.04 0.04 0.10 0.00 0.02 0.12 0.05 0.33 0.46 0.03 0.04 0.02 0.02 0.21 0.16 0.33 0.01 0.02 0.15 0.20 0.04 0.01 0.00 0.01 0.03 0.05 0.07 0.02 0.03 0.01 0.23 0.04 0.01 0.01 0.10 0.07 0.03 0.06 0.01 1.52 0.02 5.52 0.05 0.02 0.01 0.00 0.05 0.05 0.18 0.24 0.00 0.01 0.06 0.08 0.05 0.08 0.08 0.09 0.77 0.96 0.06 0.04 1.01 1.40 51.60 0.05 0.07 0.03 0.01 0.45 0.22 0.85 0.50 0.27 0.02 0.03 0.04 2.63 0.05 0.07 0.03 0.02 0.06 0.02 0.03 1.98 0.04 0.03 0.05 0.21 2.60 0.04 0.05 0.11 0.07 0.10 0.14 0.33 0.08 0.01 0.03

Condor Gold Condor Res* Condor Res Confedertn Ml* Confedertn Mls Conic Metals* Conic Metals Conquest Res * Conquest Res Cons Woodjam CONSOL Coal Rs* CONSOL Energy* CONSOL Energy* Constantine Mt* Constantine Mt Contact Gold* Contact Gold Contact Mnrls* CopAur Min CopAur Min* Copper Fox Mtl* Copper Fox Mtl Copper Lake Rs Copper Mtn Mng* Copper Mtn Mng Copper One * Copperbank Res Copperbank Res* Cordoba Mnls* Cordoba Mnls Core Assets Cornerstone Ca Cornerstone Ca* Corsa Coal * Corsa Coal Cortus Metals Corvus Gold Corvus Gold* Crest Resource Crest Resource* Crestview Expl Critical Elem* Critical Elem Cross River* Cross River Crown Mining Crown Mining* Cruz Cobalt* Cruz Cobalt Crystal Peak* CTGX Mining* Currie Rose Rs CWN M’g Acq Cyon Explor Cypress Dev* Cypress Dev

T O V O V O V O V V N N N O V O V O V O O V V O T O C O O V C V O O V V T D C O C O V O C V O O C O O V V V O V

Dajin Lithium* Dajin Res Dakota Ter Res* Damara Gold Damara Gold* Danakali* Debut Dmds Decade Res Decade Res* Deep-South Res Deep-South Res* DeepRock Min Defense Metals* Defense Metals Defiance Silvr Defiance Silvr* Delrand Res Denison Mines Denison Mines* Desert Gold* Desert Gold Desert Mtn Egy Diamante Min* Diamcor Mng Diamcor Mng* Diamond Disc* Diamond Fields Diamond Fields* Dios Expl Discovery Harb* Discovery Harb Discovery Met* Discovery Met Discovery Min* Discovery-Corp District Cop District Cop* District Metal* District Metal District Mines Ditem Explor* Dixie Gold DNI Metals* Dolat Ventures* Dolly Vard Sil* Dolly Vard Sil Dore Copper Doubleview Gld Doubleview Gld* DRDGOLD* Dundee Prec Mt Durango Res* Durango Res DV Resources Dynacor Gld Mn Dynacor Gld Mn* Dynamic Gold* DynaResource* Dynasty Gold Dynasty Gold* E3 Metals* E3 Metals E79 Res Eagle Graphite* Eagle Graphite Eagle Plains Earl Res East Africa East Africa * EastCoal Inc Eastern Platin* Eastern Platin Eastfield Res* Eastfield Res Eclipse Gold Eclipse Gold* Eco Oro Mnls* Eco Oro Mnls Edgemont Gold Edgewater Expl* Edgewater Expl Edison Cobalt* Edison Cobalt El Capitan Prc* El Nino Vent* El Nino Vent Elcora Adv Mat Elcora Res* Eldorado Gold* Eldorado Gold Eloro Res* Eloro Res Ely Gold Royal Ely Gold Royal* Elysee Dev Elysee Dev * Emerita Res Emerita Res* Emgold Mining* Emgold Mining EMX Royalty EMX Royalty* Encanto Potash* Encanto Potash EnCore Energy Endeavour Mng* Endeavour Mng Endeavr Silver* Endeavr Silver Endurance Gold* Endurance Gold Enduro Metals Enduro Metals* Energy Fuels Energy Fuels* Engineer Gold

C 0.12 0.06 0.08 0.51 0.65 0.19 0.15 0.01 0.02 0.19 1.71 2.21 14.83 1.81 2.38 0.11 0.09 1.77 2.25 12.86 16.55 0.12 0.10 0.00 0.01 0.19 0.14 1.87 1.47 0.04 0.03 0.09 0.06 0.49 0.38 0.08 0.12 0.14 0.06 0.77 0.12 0.37 0.29 0.01 0.11 0.00 0.43 0.10 0.05 0.05 0.12 0.14 0.00 0.11 0.14 0.23 0.28 0.18 0.24 0.62 0.80 0.18 0.19 0.08 0.10 0.00 0.19 2.25 0.00 0.05 0.81 0.97 0.08 0.06 0.11 0.03 0.13 0.19 0.24 0.16 0.15 0.04 0.68 0.08 0.01 0.04 0.10 0.09 0.12 0.15 0.03 2.04 0.04 14.75 0.18 0.13 0.05 0.01 0.22 0.15 0.29 0.38 0.01 0.02 0.22 0.56 0.43 2.63 0.10 0.11 3.53 4.24 0.09 0.00 4.08 5.21 83.53 0.15 0.12 0.19 0.00 1.84 1.15 0.91 0.78 0.36 0.15 0.10 0.08 13.06 0.00 0.19 0.16 0.12 0.56 0.05 0.06 9.37 0.07 0.05 0.25 0.83 2.90 0.13 0.16 0.25 0.19 0.17 0.00 1.00 0.11 0.09 0.63

0.13 0.06 0.12 + 0.52 0.67 0.27 + 0.21 + 0.01 unch 0.02 unch 0.19 unch 1.81 + 2.25 + 16.13 1.88 2.40 0.15 0.12 + 2.00 2.52 13.53 + 17.31 + 0.16 + 0.10 unch 0.08 + 0.01 0.19 unch 0.15 1.94 1.50 0.04 0.03 0.09 unch 0.07 + 0.49 0.39 0.10 + 0.13 unch 0.15 unch 0.06 0.79 0.13 unch 0.43 + 0.34 + 0.03 unch 0.11 0.44 unch 0.54 + 0.10 0.05 + 0.05 unch 0.12 0.14 0.08 0.11 + 0.14 unch 0.24 + 0.32 + 0.35 + 0.41 + 0.66 0.85 0.18 unch 0.19 0.08 unch 0.11 0.29 0.21 2.38 + 0.05 + 0.06 unch 0.81 unch 1.03 unch 0.08 unch 0.06 unch 0.12 0.03 unch 0.14 unch 0.19 0.24 0.17 + 0.15 unch 0.04 + 0.71 + 0.08 unch 0.01 unch 0.05 0.11 0.09 unch 0.13 0.15 0.07 + 2.14 + 0.04 15.12 0.20 + 0.15 + 0.05 0.02 + 0.22 unch 0.16 0.30 0.38 0.01 0.02 unch 0.24 + 0.59 + 0.46 + 2.80 0.10 + 0.12 unch 3.73 4.72 0.11 + 0.05 unch 4.16 5.35 85.33 0.15 0.12 unch 0.26 + 0.18 1.85 1.17 0.91 0.81 0.36 0.21 + 0.10 0.08 + 14.15 + 0.11 + 0.23 + 0.17 0.13 0.59 0.05 + 0.07 9.88 + 0.08 + 0.06 unch 0.25 + 0.88 2.90 unch 0.14 0.17 0.26 unch 0.20 + 0.17 0.22 1.07 + 0.11 unch 0.09 + 0.70 +

(100s)

High Low

Exc Volume

Week Last

12-month

High

Low

Change

13 153 114 11 405 104 194 9 167 258 223 1736 11633 149 79 291 1139 120 26 2 311 2996 749 236 2664 995 296 373 178 547 392 88 22 54 64 206 396 581 171 120 485 70 738 1 244 156 6 81 355 347 5 26 48 143 1600 2219

0.93 0.19 0.24 1.22 1.59 0.33 0.43 0.14 0.18 0.21 5.54 7.70 11.89 0.14 0.18 0.09 0.12 0.02 0.12 0.11 0.27 0.35 0.04 1.45 1.85 0.22 0.24 0.19 0.06 0.08 0.09 5.14 4.01 0.29 0.36 0.20 3.18 2.48 0.11 0.08 0.57 0.58 0.75 0.29 0.37 0.12 0.10 0.04 0.05 0.01 0.10 0.04 0.05 0.35 0.70 0.90

+ 0.85 0.93 + 0.00 0.18 + 0.22 0.23 + 1.15 1.22 + 1.47 1.55 + 0.28 0.31 + 0.37 0.41 0.12 0.13 unch + 0.16 0.18 0.18 0.19 4.70 4.85 6.49 6.59 + 10.55 11.46 0.13 0.14 0.16 0.17 + 0.08 0.09 + 0.11 0.12 0.02 0.02 unch + 0.12 0.12 0.11 0.11 unch + 0.15 0.27 + 0.19 0.35 0.03 0.03 unch + 1.29 1.43 + 1.69 1.84 + 0.16 0.21 + 0.23 0.24 0.17 0.19 unch 0.05 0.06 0.07 0.08 unch 0.08 0.08 4.65 5.07 0.00 3.79 0.25 0.25 0.31 0.31 0.17 0.20 unch 3.00 3.11 + 2.32 2.42 0.10 0.10 + 0.08 0.08 0.40 0.41 + 0.52 0.58 + 0.67 0.73 0.29 0.29 unch 0.34 0.34 0.11 0.12 + 0.00 0.10 0.00 0.03 0.05 0.05 + 0.00 0.01 0.00 0.10 unch 0.04 0.04 unch 0.05 0.05 unch + 0.29 0.35 + 0.49 0.65 + 0.63 0.80

785 O 253 V 309 O 243 V 418 O 154 O 37 C 3699 V 330 O 1165 V 303 O 19 C 438 O 917 V 914 V 797 O 311 V 4524 T X 11934 5 O 554 V 187 V 348 O 1288 V 109 O 1235 O 25 V 1 O 347 V 122 O 1069 V 995 O 1619 V O 1654287 123 V 510 V 40 O 623 O 1231 V 494 V 4287 O 630 V 18 O 22 O 1233 O 1559 V 470 V 793 V 223 O 1207 N 2769 T 54 O 744 V 297 V 134 T 21 O 14 O 0 O 1 V 13 O 435 O 693 V 85 C 12 O 16 V 211 V 82 V 579 V 0 O 0 V 266 O 241 T 37 O 136 V 630 V 188 O 22 O 41 C 4 C 6 O 41 V 172 O 172 V 1504 O 1 O 131 V 78 V 126 O 7222 N 2051 T 88 O 210 V 490 V 760 O 34 V 24 O 962 V 20 O 174 O 646 V 121 V 969 X 116 O 160 V 2125 V 38 O 1358 T N 13841 2530 T 12 O 198 V 777 V 410 O 4374 T X 17772 344 V

0.05 0.06 0.56 0.11 0.10 0.25 0.16 0.10 0.08 0.17 0.13 0.06 0.18 0.24 0.95 0.75 0.10 0.82 0.64 0.13 0.15 1.68 0.02 0.08 0.07 0.00 0.13 0.09 0.12 0.06 0.07 1.67 2.14 0.00 0.07 0.02 0.01 0.39 0.50 0.10 0.00 0.30 0.01 0.08 0.75 0.97 0.99 0.27 0.21 12.35 9.34 0.07 0.09 0.10 1.85 1.43 2.10 0.75 0.08 0.06 0.73 0.95 0.95 0.03 0.05 0.15 0.40 0.24 0.00 0.00 0.34 0.44 0.06 0.07 0.57 0.45 0.04 0.07 0.14 0.15 0.20 0.04 0.04 0.01 0.03 0.05 0.08 0.07 13.36 17.13 1.47 1.89 1.25 1.00 0.48 0.37 0.27 0.20 0.07 0.08 3.93 3.01 0.04 0.06 0.87 24.28 31.24 4.79 6.14 0.11 0.15 0.21 0.16 5.48 4.28 0.06

High Low

0.12 0.01 0.01 0.04 0.03 0.02 0.04 0.00 0.01 0.02 0.76 1.21 0.35 0.03 0.02 0.00 0.02 0.00 0.01 0.00 0.13 0.16 0.00 0.02 0.04 0.01 0.01 0.00 0.00 0.00 0.01 0.04 0.20 0.04 0.05 0.00 0.01 0.02 0.01 0.00 0.15 0.02 0.01 0.00 0.03 0.01 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.08 0.11 0.10

1.40 0.50 0.44 2.06 2.78 0.35 0.46 0.26 0.36 0.30 11.92 15.15 14.19 0.20 0.29 1.00 0.28 0.06 0.27 0.16 0.27 0.32 0.04 1.45 1.85 0.69 0.27 0.21 0.10 0.14 0.20 6.53 5.00 0.32 0.42 0.35 4.26 3.29 0.22 0.12 2.60 0.79 1.02 0.34 0.50 0.15 0.12 0.05 0.07 0.05 0.10 0.06 0.21 0.35 0.64 0.84

0.34 0.00 0.04 0.11 0.21 0.09 0.12 0.12 0.05 0.02 2.78 3.35 4.26 0.09 0.12 0.00 0.08 0.01 0.07 0.11 0.03 0.01 0.01 0.19 0.28 0.01 0.10 0.12 0.03 0.05 0.07 1.36 1.08 0.08 0.12 0.17 0.99 0.72 0.04 0.08 0.29 0.16 0.17 0.25 0.17 0.02 0.01 0.01 0.03 0.00 0.00 0.02 0.03 0.20 0.08 0.11

0.01 0.01 0.09 0.00 0.00 0.02 0.00 0.01 0.00 0.01 0.02 0.00 0.02 0.03 0.04 0.03 0.01 0.07 0.03 0.00 0.01 0.07 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.02 0.09 0.00 0.01 0.00 0.00 0.01 0.03 0.04 0.01 0.09 0.00 0.02 0.03 0.02 0.00 0.00 0.01 0.03 0.16 0.01 0.01 0.01 0.06 0.03 0.25 0.05 0.02 0.00 0.04 0.06 0.12 0.00 0.00 0.01 0.00 0.02 0.00 0.00 0.03 0.03 0.01 0.01 0.02 0.02 0.01 0.01 0.02 0.00 0.01 0.02 0.01 0.00 0.00 0.01 0.01 0.01 0.46 0.62 0.06 0.05 0.03 0.03 0.03 0.01 0.01 0.05 0.00 0.01 0.02 0.05 0.01 0.01 0.03 0.52 0.66 0.14 0.19 0.01 0.01 0.01 0.01 0.85 0.66 0.00

0.06 0.08 0.96 0.14 0.10 0.45 0.23 0.14 0.10 0.19 0.14 0.09 0.23 0.25 0.95 0.75 0.62 0.82 0.64 0.26 0.35 2.11 0.03 0.20 0.15 0.01 0.25 0.17 0.24 0.14 0.18 2.14 2.84 0.00 0.14 0.03 0.02 0.39 0.50 0.14 0.01 0.28 0.05 0.13 0.91 1.17 1.45 0.34 0.26 18.05 10.73 0.13 0.18 0.20 2.62 1.98 3.00 1.10 0.14 0.11 1.31 1.73 0.95 0.06 0.08 0.18 0.40 0.24 0.15 0.09 0.44 0.72 0.06 0.09 0.96 0.80 0.08 0.10 0.15 0.18 0.23 0.05 0.05 0.02 0.05 0.07 0.19 0.14 14.49 18.90 1.49 1.95 2.09 1.54 0.54 0.45 0.40 0.23 0.12 0.16 4.40 3.33 0.08 0.10 0.87 30.33 39.21 4.79 6.40 0.13 0.18 0.38 0.28 5.48 4.27 0.21

0.01 0.02 0.06 0.02 0.00 0.16 0.07 0.01 0.00 0.03 0.02 0.01 0.03 0.07 0.06 0.03 0.08 0.24 0.19 0.05 0.05 0.14 0.01 0.06 0.05 0.00 0.09 0.04 0.04 0.02 0.03 0.16 0.22 0.00 0.06 0.01 0.00 0.08 0.10 0.06 0.00 0.07 0.00 0.03 0.12 0.17 0.45 0.04 0.04 3.06 3.20 0.03 0.04 0.05 0.99 0.70 1.00 0.25 0.04 0.03 0.11 0.19 0.02 0.01 0.02 0.07 0.09 0.08 0.07 0.06 0.12 0.18 0.02 0.03 0.40 0.31 0.02 0.04 0.10 0.02 0.04 0.01 0.02 0.00 0.01 0.02 0.02 0.01 4.60 6.29 0.17 0.20 0.40 0.31 0.28 0.19 0.02 0.05 0.03 0.03 1.54 1.18 0.01 0.01 0.08 11.02 15.68 0.99 1.30 0.02 0.03 0.05 0.04 1.10 0.78 0.03

D-F 0.03 0.05 0.27 0.11 0.09 0.23 0.00 0.08 0.06 0.16 0.12 0.00 0.15 0.20 0.84 0.67 0.08 0.72 0.56 0.11 0.15 1.50 0.02 0.07 0.05 0.00 0.00 0.00 0.11 0.04 0.05 1.48 1.92 0.00 0.06 0.01 0.01 0.35 0.44 0.08 0.00 0.19 0.00 0.05 0.65 0.83 0.90 0.24 0.19 11.24 8.98 0.07 0.08 0.09 1.74 1.37 1.75 0.75 0.00 0.06 0.65 0.81 0.75 0.00 0.05 0.14 0.36 0.00 0.00 0.00 0.30 0.39 0.05 0.00 0.53 0.41 0.04 0.06 0.14 0.15 0.20 0.02 0.03 0.01 0.03 0.03 0.07 0.05 12.33 15.92 1.30 1.68 1.12 0.88 0.00 0.35 0.21 0.19 0.06 0.07 3.70 2.82 0.03 0.05 0.80 22.97 29.60 4.33 5.61 0.11 0.14 0.19 0.14 4.23 3.28 0.06

+ 0.04 + 0.06 0.45 0.11 unch 0.10 unch 0.23 0.16 unch + 0.09 + 0.08 0.16 + 0.13 0.06 unch + 0.18 + 0.23 0.86 0.68 + 0.09 + 0.80 + 0.62 0.12 + 0.15 1.61 + 0.02 0.08 unch 0.06 + 0.00 0.12 unch 0.09 unch + 0.11 + 0.05 + 0.07 1.56 1.97 + 0.00 + 0.07 0.01 unch 0.01 unch 0.35 0.44 0.09 0.00 + 0.29 0.01 unch 0.05 + 0.69 + 0.88 0.98 unch 0.26 unch 0.20 11.89 + 9.22 + 0.07 0.08 + 0.10 1.77 1.40 + 2.00 + 0.75 0.08 + 0.06 0.68 0.86 + 0.85 0.03 0.05 unch 0.14 0.40 unch + 0.22 0.15 unch 0.09 unch 0.31 0.41 0.05 0.07 + 0.57 + 0.44 + 0.04 0.06 + 0.14 0.15 unch + 0.20 + 0.04 + 0.04 0.01 0.03 unch + 0.04 0.07 0.05 + 13.29 + 17.04 1.32 1.73 1.21 0.94 + 0.48 + 0.37 0.24 + 0.19 + 0.06 + 0.08 3.79 2.95 0.03 0.05 0.82 23.38 29.95 + 4.58 + 5.85 + 0.11 + 0.14 0.19 0.15 + 5.32 + 4.15 0.06 unch

G LOBAL M I N I N G

N EW S

(100s) Stock

Exc Volume

TH E N OR TH ER N

Week High

Low 0.04 0.02 0.04 0.39 0.51 10.02 12.93 0.22 0.21 0.19 0.15 0.29 0.38 0.06 0.07 19.13 14.88 0.06 0.08 0.08 0.77 0.99 0.23 0.14 0.19 0.20 0.26 0.36 0.22 0.30 0.06 0.08 0.16 0.00 0.00 0.02 0.25 0.19 0.06 0.07 2.00 0.00 0.03 0.32 2.76 3.54 0.81 1.03 0.09 9.18 7.19 0.07 0.00 0.41 0.31 0.12 0.09 0.12 0.09 0.06 0.34 0.26 0.12 1.84 1.51 0.10 0.13 1.05 1.40 0.00 0.00 0.00 0.11 0.95 0.72 0.26 0.20 0.00 0.00 12.19 15.75 0.30 0.40 0.49 20.42 0.48 0.37 0.09 0.07 0.29 0.37 0.03 0.07 0.00 0.06 0.04 0.04 0.06 0.21 0.33 0.65 0.21 0.13 0.10 17.63 9.41 7.28 1.06 0.82 0.05 0.07 0.17 0.13 2.08 0.40 0.33 0.08 0.06 0.64 127.83 165.01 0.03 0.84 0.51 0.39 23.96 0.20 0.07 15.02 0.31 0.02 1.35 1.74 0.02 0.03

Engold Mines Engold Mines* Ensurge* Entree Res* Entree Res Equinox Gold* Equinox Gold Equitorial Ex Equitorial Ex* Equity Metals Equity Metals* Erdene Res Dev* Erdene Res Dev Erin Ventures* Erin Ventures Ero Copper Ero Copper* Eros Res Corp* Eros Res Corp Eros Res Corp Eskay Mng* Eskay Mng Essex Minerals Ethos Gold* Ethos Gold Etruscus Res* Etruscus Res Euro Manganese Euro Sun Mg* Euro Sun Mg EurOmax Res* EurOmax Res European Elect* European Elect European Metal* Eurotin Evergold Evergold* Everton Res* EVI Global Grp Evolution Glob Evolving Gold Evolving Gold* Evrim Res Excellon Res* Excellon Res Excelsior Mng* Excelsior Mng ExGen Res Inc Explorex Res Explorex Res* Fabled Copper Fairmont Res* Falco Res Falco Res * Falcon Gold Falcon Gold* Fancamp Expl Far Res Far Res* FenixOro Gold FenixOro Gold* Fidelity Min Filo Mg Corp Filo Mg Corp * Finlay Minrls Fiore Gold* Fiore Gold* Fiore Gold Fire River Gol* FireFox Gold FireFox Gold* Firestone Vent Fireweed Zinc Fireweed Zinc* First Cobalt First Cobalt * First Energy First Energy* First Majestic* First Majestic First Mg Fin * First Mg Fin First Point* First Quantum First Vanadium First Vanadium* Fission 3.0 Fission 3.0* Fission Uran* Fission Uran Five Star Diam Fjordland Exp* Fjordland Exp Flow Metals Flowery Gold* Focus Graphite* Focus Graphite Focus Minerals* Fokus Mining Foran Mng Forsys Metals Fort St J Nick Fort St James* Fortescue Met* Fortuna Silvr Fortuna Silvr* Fortune Bay Fortune Bay* Fortune Mnrls* Fortune Mnrls Forum Energy Forum Energy* Fosterville Four Nines Four Nines* Fox River Res Fox River Res* FPX Nickel Franco-Nevada* Franco-Nevada Franklin Mng* Freegold Vent Freeman Gold Freeman Gold* Freeport McMoR* Freeport Res Fremont Gold Fresnillo plc* Frontier Lith Frontline Gold Fury Gold* Fury Gold Fuse Cobalt* Fuse Cobalt

V O O O T X T V O V O O T O V T O O V V O V V O V O C V O T O T O V O V V O O C C C O V X T O T V C O V O V O V O V C O C O V V O V O O V O V O V V O V O C O N T O T O T V O V O O T V O V C O O V O V V T V O O T N V O O T V O V C O C O V N T O T C O N V V O V V X T O V

257 41 440 62 250 4056 3550 247 1 1042 219 517 1298 8 389 438 1 17 262 262 921 1915 99 151 282 9 172 164 531 1124 9 168 52 11 0 395 371 37 43 925 4 121 2 431 126 147 778 766 150 16 8 4850 0 684 379 261 125 582 2589 86 324 814 231 109 52 225 101 423 266 0 180 42 41 479 43 11120 4755 84 52 27203 5091 2509 3165 287 6074 434 373 1437 195 1680 4530 382 4 176 400 2 3110 2128 36 698 867 999 42 0 34 1965 11245 36 3 624 528 3439 1015 410 60 8 46 2 356 1778 1038 640 2257 700 55 45378 785 898 48 528 544 1368 1016 923 2186

0.04 0.03 0.04 0.43 0.55 10.56 13.57 0.27 0.21 0.23 0.18 0.31 0.40 0.06 0.08 20.53 15.32 0.07 0.09 0.09 1.60 2.09 0.25 0.17 0.23 0.22 0.29 0.45 0.26 0.33 0.07 0.09 0.19 0.24 0.01 0.03 0.27 0.20 0.09 0.07 2.00 0.06 0.04 0.35 3.03 3.89 0.92 1.19 0.09 10.00 7.61 0.10 0.20 0.43 0.34 0.13 0.11 0.13 0.10 0.08 0.39 0.30 0.14 2.03 1.57 0.12 0.17 1.16 1.48 0.00 0.21 0.18 0.12 1.08 0.82 0.33 0.25 0.20 0.15 13.27 17.05 0.33 0.42 0.53 23.27 0.52 0.42 0.10 0.08 0.32 0.42 0.03 0.07 0.10 0.06 0.20 0.05 0.06 0.23 0.39 0.69 0.26 0.14 0.10 18.30 10.09 7.83 1.18 0.93 0.06 0.08 0.22 0.25 2.34 0.45 0.33 0.08 0.06 0.68 132.93 170.90 0.04 0.92 0.58 0.46 25.25 0.22 0.07 15.82 0.36 0.03 1.43 1.80 0.03 0.04

G2 Goldfields* G2 Goldfields Gabriel Res* Gabriel Res Gaia Metals* Gaia Metals Gainey Capital Galane Gold Galane Gold * Galantas Gold* Galantas Gold Galiano Gold Galiano Gold* Galleon Gold* Galleon Gold Galore Res Galway Gold * Galway Gold Galway Mtls* Galway Mtls Gambier Gold Gambier Gold* Garibaldi Res * Garibaldi Res Gatling Explor Gatling Explor* Gatos Silver Gatos Silver* Generation Min Generation Min* Generic Gold* Generic Gold Genesis Mtls Genesis Mtls* Genius Metals Gensource Pot Gentor Res Gentor Res* Geomega Res* Geomega Res Gespeg Res Getchell Gold * Getchell Gold Getty Copper

O V O V O V V V O O V T X O V V O V O V V O O V V O T N T O O C V O C V V O O V V O C V

36 320 132 2633 9 396 1826 517 101 1 13 292 2880 139 1408 22 8 75 84 515 100 342 57 540 239 168 33 2093 1313 465 0 361 257 81 302 245 161 95 261 1629 230 172 335 140

0.37 0.48 0.20 0.25 0.08 0.09 0.03 0.25 0.20 0.18 0.23 1.62 1.25 0.09 0.11 0.02 0.12 0.15 0.97 1.24 0.20 0.15 0.50 0.45 0.46 0.18 12.59 9.83 0.80 0.62 0.00 0.46 0.24 0.19 0.20 0.21 0.08 0.06 0.27 0.35 0.09 0.30 0.39 0.10

Last

(100s)

12-month Change

High Low

Stock

GFG Resources GFG Resources* GFM Res GGL Res GGL Res* GGX Gold* GGX Gold Giga Metals* Giga Metals Gitennes Expl Gitennes Expl * Giyani Gold* Giyani Gold GK Resources Glacier Lake Glacier Lake* Gldn Predator Gldn Predator* Glen Eagle Res* Glen Eagle Res Glencore Plc * Glencore Plc* Global Atomic* Global Atomic Global Battery Global Battery* Global Energy* Global Energy Global Gold* Global Li-Ion* Global Li-Ion GlobalMin Vent* Globex Mng* Globex Mng GMV Minerals* GMV Minerals GNCC Capital* Go Cobalt* Go Cobalt GobiMin GoGold Res Gold Basin Res Gold Bull Res Gold Bull Res* Gold Fields* Gold Fields* Gold Finder Ex* Gold Finder Ex Gold Line Res Gold Lion Res* Gold Lion Res Gold Plus* Gold Plus Gold Port Gold Reserve* Gold Reserve Gold Resource* Gold Rush Cari Gold Std Vents Gold Std Vents* Gold X Mining Goldâ&#x20AC;&#x2122;n Futures Gold79 Mines Gold79 Mines* Goldbank Mng Goldbelt Emp Goldblock Cap Goldcliff Res* Goldcliff Res Goldcore Res Golden Arrow Golden Arrow* Golden Band* Golden Birch Golden Dawn Ml* Golden Dawn Ml Golden Goliath Golden Goliath* Golden Harp Golden Hope Golden Hope* Golden Lake Golden Mnls Golden Mnls* Golden Pursuit* Golden Pursuit Golden Ridge Golden Secret Golden Share Golden Star Golden Star* Golden Sun* Golden Tag Golden Tag* Golden Valley Golden Valley* Goldex Res Goldex Res* Goldgroup Mng* Goldgroup Mng GoldHaven Res* Goldhills Hldg GoldMining GoldON Res GoldON Res* GoldQuest Mng Goldrea Res Goldrea Res* Goldrich Mng* Goldseek Res Goldseek Res* Goldsource Min* Goldsource Min Goldstar Mnls* Goldstar Mnls Goldstrike Res* Goldstrike Res Goliath Res* Goliath Res Gossan Res GoviEx Uranium GoviEx Uranium* Gowest Gold Gowest Gold* GPM Metals GPM Metals* GR Silver* GR Silver Gran Colombia* Gran Colombia Granada Gold Granada Gold* Grande Portage* Grande Portage Granite Creek* Granite Creek Graphite Egy* Graphite One* Graphite One Gratomic* Gratomic Graycliff Exp Great Atlantic Great Bear Res Great Bear Res* Great Lakes Gr* Great Panther* Great Panther Great Thunder* Green River Green River* Green Swan Cap Green Valley M Greencastle Rs Greenland M&En* Greenshield Ex Grenville Gold Grid Metals Grid Metals* Grizzly Discvr* Grizzly Discvr Group Eleven Group Ten Mtls* Group Ten Mtls GrowMax Res* GSP Resource GT Gold GT Gold * Gungnir Res* Gungnir Res Gunpoint Expl* Gunpoint Expl Guyana Goldstr* Guyana Goldstr Handa Mining* Handa Mining Handeni Gold* Hanna Capital Hannan Metals Hannan Metals* Hanstone Gold Happy Ck Mnrls

0.04 unch 0.03 0.04 unch 0.43 + 0.55 + 10.39 + 13.30 + 0.22 unch 0.21 + 0.20 + 0.15 0.31 0.38 0.06 + 0.08 unch 20.27 + 14.88 0.07 + 0.09 unch 0.09 unch 1.53 + 1.95 + 0.25 0.17 + 0.23 + 0.22 + 0.29 + 0.36 0.24 0.32 unch 0.07 + 0.09 + 0.17 unch 0.24 + 0.01 0.02 0.26 0.20 0.08 + 0.07 unch 2.00 unch 0.05 0.04 0.35 + 3.00 + 3.81 + 0.84 1.06 0.09 unch 10.00 + 7.61 + 0.08 + 0.20 + 0.41 0.32 0.12 0.11 + 0.12 0.10 unch 0.08 + 0.36 unch 0.28 0.12 1.89 1.52 0.11 + 0.14 1.11 1.42 0.07 unch 0.21 0.18 + 0.11 1.02 + 0.80 + 0.30 unch 0.23 0.16 + 0.13 + 12.74 + 16.30 + 0.32 0.41 0.50 23.09 + 0.50 + 0.39 + 0.09 0.07 0.32 + 0.41 + 0.03 + 0.07 0.09 0.06 unch 0.04 0.05 0.06 unch 0.21 unch 0.33 0.66 0.26 + 0.14 + 0.10 + 17.73 + 9.66 + 7.55 + 1.09 0.85 0.05 0.07 0.22 + 0.17 + 2.12 0.45 + 0.33 unch 0.08 0.06 0.66 129.97 166.54 0.03 + 0.87 + 0.56 + 0.44 + 24.79 + 0.21 0.07 unch 15.35 0.36 0.03 1.39 1.79 0.03 + 0.04 unch

0.00 0.00 0.00 0.03 0.04 0.13 0.16 0.00 0.03 0.01 0.00 0.00 0.01 0.00 0.00 0.69 0.57 0.00 0.00 0.00 0.73 0.93 0.01 0.01 0.02 0.02 0.02 0.06 0.00 0.00 0.01 0.01 0.00 0.03 0.02 0.01 0.01 0.01 0.00 0.00 0.00 0.01 0.02 0.02 0.07 0.07 0.08 0.10 0.00 0.55 0.21 0.01 0.00 0.01 0.00 0.01 0.00 0.01 0.00 0.01 0.00 0.00 0.03 0.11 0.05 0.01 0.01 0.03 0.05 0.00 0.01 0.02 0.03 0.07 0.06 0.00 0.00 0.01 0.00 0.17 0.23 0.01 0.02 0.02 1.44 0.02 0.02 0.01 0.00 0.00 0.02 0.01 0.01 0.01 0.00 0.16 0.00 0.00 0.00 0.03 0.01 0.02 0.01 0.00 0.23 0.24 0.21 0.02 0.00 0.00 0.01 0.04 0.03 0.22 0.01 0.00 0.01 0.00 0.01 2.80 2.91 0.01 0.01 0.01 0.01 0.16 0.01 0.00 0.27 0.01 0.01 0.01 0.01 0.00 0.00

0.08 0.05 0.06 0.44 0.55 13.66 17.99 0.37 0.27 0.28 0.20 0.55 0.71 0.06 0.08 23.93 18.22 0.11 0.17 0.17 1.52 1.95 0.92 0.28 0.37 0.34 0.48 0.56 0.49 0.63 0.08 0.12 0.38 0.60 1.02 0.04 0.95 0.71 0.90 0.27 2.00 0.14 0.11 0.62 3.36 6.15 0.94 1.23 0.20 9.85 7.61 0.16 0.63 0.60 0.72 0.25 0.19 0.15 0.12 0.09 0.63 0.56 0.15 2.25 1.61 0.15 0.18 1.33 1.75 0.90 0.33 0.22 0.24 1.31 0.97 0.39 0.30 0.30 0.21 14.57 19.41 0.47 0.60 0.64 23.00 0.61 0.46 0.14 0.10 0.38 0.49 0.05 0.09 0.12 0.20 0.51 0.05 0.06 0.26 0.48 0.70 0.31 0.30 0.12 18.30 10.55 8.11 1.56 1.21 0.07 0.10 0.18 0.28 5.34 0.47 0.35 0.12 0.07 0.84 166.11 222.15 0.10 1.95 0.84 0.89 25.43 0.95 0.17 18.11 0.41 0.04 3.94 7.78 0.10 0.14

0.02 0.02 0.01 0.16 0.23 4.63 6.60 0.05 0.14 0.04 0.03 0.09 0.13 0.02 0.03 8.40 5.92 0.04 0.06 0.06 0.09 0.12 0.10 0.05 0.08 0.20 0.12 0.05 0.02 0.14 0.00 0.01 0.16 0.10 0.00 0.01 0.19 0.15 0.01 0.05 2.00 0.01 0.00 0.19 2.20 1.55 0.30 0.42 0.05 3.49 0.00 0.03 0.19 0.17 0.11 0.03 0.06 0.03 0.02 0.01 0.10 0.09 0.02 1.00 0.77 0.02 0.05 0.19 0.27 0.00 0.04 0.10 0.03 0.31 0.21 0.08 0.05 0.05 0.03 4.17 5.30 0.09 0.12 0.08 4.71 0.13 0.08 0.03 0.02 0.07 0.10 0.01 0.02 0.03 0.05 0.04 0.01 0.01 0.13 0.04 0.08 0.06 0.10 0.08 5.16 2.05 1.47 0.26 0.14 0.03 0.04 0.05 0.03 0.91 0.10 0.15 0.04 0.03 0.11 77.18 105.93 0.00 0.04 0.16 0.18 4.82 0.08 0.05 5.53 0.14 0.01 1.05 1.44 0.01 0.02

0.31 0.32 0.39 0.42 + 0.15 0.18 + 0.20 0.25 + 0.06 0.06 0.08 0.08 0.03 0.03 + 0.22 0.23 0.17 0.18 0.17 0.18 + 0.00 0.23 unch 1.44 1.49 1.12 1.17 0.08 0.08 0.11 0.11 unch 0.02 0.02 unch 0.11 0.11 0.00 0.15 unch 0.87 0.92 1.12 1.14 0.00 0.20 0.15 0.15 + 0.31 0.34 0.40 0.43 0.44 0.45 unch 0.17 0.18 unch 11.88 12.10 + 9.15 9.41 + 0.64 0.70 + 0.50 0.55 + 0.00 0.33 unch 0.36 0.46 + 0.22 0.23 unch 0.17 0.19 + 0.17 0.18 0.20 0.21 + 0.05 0.08 + 0.00 0.06 + 0.19 0.24 + 0.24 0.35 + 0.07 0.08 0.26 0.27 0.34 0.34 0.00 0.08 -

0.01 0.03 0.00 0.02 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.11 0.06 0.01 0.00 0.00 0.01 0.00 0.05 0.09 0.01 0.01 0.02 0.02 0.00 0.00 0.40 0.21 0.05 0.04 0.00 0.09 0.00 0.00 0.02 0.02 0.04 0.03 0.05 0.12 0.01 0.02 0.03 0.02

0.87 1.20 0.48 0.63 0.13 0.18 0.09 0.41 0.30 0.33 0.45 2.80 2.12 0.14 0.20 0.03 3.95 0.39 1.57 2.09 0.22 0.16 0.75 1.00 1.12 0.85 12.72 9.97 0.80 0.62 0.33 0.61 0.49 0.38 0.32 0.23 0.08 0.06 0.27 0.34 0.12 0.37 0.50 0.10

0.13 0.14 0.15 0.20 0.03 0.03 0.02 0.05 0.03 0.02 0.03 0.80 0.56 0.02 0.03 0.01 0.06 0.09 0.21 0.29 0.02 0.03 0.20 0.37 0.40 0.34 7.77 5.78 0.39 0.16 0.29 0.02 0.15 0.10 0.14 0.07 0.03 0.03 0.06 0.09 0.03 0.05 0.07 0.02

G-H

Exc Volume V 363 O 317 V 10 V 36 O 20 O 11 V 28 O 815 V 634 V 230 O 2 O 286 V 736 V 88 V 92 O 18 V 598 O 399 O 30 V 540 O 530 O 1242 O 956 T 2672 V 175 O 6 O 83 V 208 O 0 O 118 C 552 O 1 O 25 T 234 O 20 V 21 O 151970 O 2 C 90 V 3 T 935 C 848 V 138 O 4 O 0 N 14527 O 57 V 1741 V 1047 O 67 C 408 O 4 C 75 C 153 O 253 V 14 X 7439 V 403 T 260 X 1836 V 236 C 238 V 334 O 21 V 0 V 21 C 12 O 79 V 162 V 396 V 447 O 377 O 274 C 758 O 52 V 151 V 1033 O 232 V 0 V 57 O 6 C 687 T 617 X 8356 O 137 V 217 V 308 V 164 V 95 T 67 X 1075 O 4 V 992 O 874 V 27 O 27 V 63 O 6 O 180 T 504 O 261 V 16 T 2280 V 137 O 21 V 1591 C 690 O 235 O 403 C 19 O 5 O 2359 V 2393 O 80 V 262 O 0 V 19 O 163 V 532 V 111 V 2902 O 1894 V 231 O 11 V 130 O 2 O 337 V 788 O 141 T 1329 V 237 O 191 O 76 V 450 O 349 V 584 O 4 O 318 V 285 O 703 V 5196 C 45 V 82 V 206 O 60 O 96 X 6531 T 1370 O 228 C 1810 O 4 V 354 V 7 V 76 O 993 V 229 C 24 V 976 O 387 O 40 V 785 V 112 O 989 V 874 O 30 V 1196 V 300 O 15 O 99 V 60 O 0 V 20 O 36 V 345 O 0 V 196 O 0 V 44 V 453 O 137 V 38 V 275

Week Last

12-month

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Low

Change

0.17 0.13 0.10 0.24 0.12 0.13 0.18 0.44 0.57 0.08 0.07 0.27 0.34 0.12 0.10 0.09 0.25 0.20 0.06 0.07 3.20 6.40 1.47 1.88 0.14 0.10 0.27 0.35 0.00 0.10 0.12 0.30 0.55 0.67 0.19 0.27 0.00 0.04 0.04 0.29 1.96 0.30 0.55 0.40 10.00 9.77 0.08 0.10 0.35 0.27 0.34 0.06 0.10 0.17 1.63 2.06 3.78 0.02 1.03 0.80 3.47 0.15 0.07 0.05 0.00 0.03 0.20 0.10 0.12 0.13 0.18 0.15 0.00 0.18 0.13 0.16 0.12 0.10 0.00 0.41 0.33 0.16 1.02 0.79 0.16 0.21 0.20 3.07 0.16 5.04 3.93 0.01 0.52 0.40 7.40 5.77 0.07 0.06 0.03 0.04 0.50 0.14 3.09 1.03 0.80 0.31 0.04 0.03 0.03 0.25 0.18 0.10 0.13 0.01 0.02 0.00 0.29 0.26 0.34 0.09 0.22 0.17 0.33 0.26 0.06 0.05 0.64 0.81 5.75 7.44 0.19 0.15 0.35 0.45 0.18 0.22 0.18 0.40 0.51 0.34 0.43 0.50 0.88 17.93 13.96 0.00 0.92 1.18 0.54 0.07 0.05 0.05 0.59 0.14 0.22 0.15 0.08 0.15 0.12 0.04 0.05 0.07 0.32 0.40 0.02 0.36 2.05 1.60 0.06 0.07 0.00 0.57 0.10 0.11 0.01 0.03 0.00 0.10 0.44 0.36 0.52 0.13

0.15 0.16 unch 0.12 0.13 + 0.10 0.10 unch 0.18 0.20 + 0.12 0.12 unch 0.13 0.13 unch 0.16 0.16 0.40 0.44 + 0.51 0.56 + 0.00 0.08 unch 0.07 0.07 unch 0.21 0.27 + 0.26 0.34 + 0.10 0.10 0.10 0.10 unch 0.09 0.09 unch 0.23 0.23 0.18 0.18 0.06 0.06 + 0.06 0.07 + 3.06 3.19 6.12 6.31 0.83 1.18 + 1.07 1.50 + 0.09 0.10 0.08 0.09 + 0.21 0.21 0.27 0.27 0.00 0.75 unch 0.08 0.10 + 0.11 0.12 unch 0.01 0.29 + 0.50 0.53 + 0.64 0.67 unch 0.18 0.19 0.23 0.27 + 0.00 0.00 0.03 0.04 + 0.00 0.04 + 0.25 0.29 + 1.87 1.95 + 0.29 0.30 + 0.47 0.50 0.00 0.38 10.00 10.00 + 9.14 9.48 0.05 0.05 0.08 0.08 0.26 0.35 + 0.24 0.25 0.30 0.30 0.06 0.06 unch 0.00 0.10 unch 0.13 0.17 + 0.00 1.56 + 2.00 2.00 3.21 3.38 + 0.02 0.02 unch 0.93 0.95 0.71 0.74 3.15 3.45 + 0.00 0.15 0.06 0.07 unch 0.04 0.05 0.00 0.12 unch 0.02 0.02 0.00 0.20 unch 0.09 0.10 + 0.12 0.12 unch 0.10 0.10 0.17 0.17 0.13 0.13 0.00 0.00 + 0.16 0.18 0.12 0.13 + 0.14 0.15 0.10 0.11 0.08 0.08 0.00 0.23 unch 0.38 0.39 0.30 0.30 0.13 0.16 + 0.87 0.94 + 0.67 0.73 + 0.12 0.16 + 0.19 0.21 + 0.16 0.16 2.94 3.05 + 0.11 0.11 4.79 4.91 + 3.72 3.82 + 0.01 0.01 unch 0.48 0.51 + 0.37 0.40 + 7.16 7.21 0.00 5.60 0.00 0.07 0.05 0.05 0.03 0.03 0.04 0.04 0.44 0.46 unch 0.14 0.14 unch 2.85 2.92 0.97 0.99 0.77 0.78 0.27 0.31 + 0.04 0.04 unch 0.02 0.03 + 0.02 0.03 0.23 0.24 0.18 0.18 unch 0.09 0.10 0.12 0.12 0.01 0.01 0.00 0.02 + 0.00 0.20 unch 0.00 0.27 0.21 0.26 + 0.27 0.34 + 0.08 0.08 0.18 0.22 + 0.14 0.17 + 0.30 0.32 unch 0.23 0.24 + 0.06 0.06 + 0.04 0.04 0.56 0.57 0.71 0.71 5.39 5.59 + 6.88 7.13 + 0.17 0.18 0.13 0.15 0.32 0.33 0.40 0.41 0.15 0.18 + 0.19 0.22 + 0.17 0.18 0.34 0.36 0.44 0.46 0.26 0.29 + 0.32 0.37 + 0.48 0.48 + 0.75 0.80 + 16.67 17.74 + 12.92 13.95 + 0.00 0.00 0.84 0.85 + 1.07 1.08 0.48 0.51 0.00 0.07 + 0.05 0.05 unch 0.04 0.05 + 0.56 0.56 0.13 0.14 + 0.18 0.22 + 0.14 0.14 + 0.08 0.08 unch 0.13 0.15 + 0.10 0.11 0.04 0.04 0.05 0.05 0.07 0.07 + 0.27 0.28 0.35 0.36 0.02 0.02 + 0.28 0.31 + 1.96 2.00 + 0.00 1.54 + 0.05 0.05 + 0.07 0.07 unch 0.00 0.47 unch 0.57 0.57 0.00 0.09 + 0.10 0.11 + 0.01 0.01 unch 0.02 0.03 unch 0.00 0.02 unch 0.09 0.10 unch 0.37 0.43 + 0.29 0.35 + 0.46 0.52 + 0.10 0.11 -

0.00 0.00 0.00 0.01 0.00 0.00 0.02 0.01 0.01 0.00 0.00 0.05 0.08 0.02 0.00 0.00 0.02 0.01 0.01 0.01 0.08 0.18 0.33 0.44 0.03 0.01 0.00 0.02 0.00 0.01 0.00 0.29 0.01 0.00 0.00 0.03 0.00 0.02 0.01 0.04 0.03 0.01 0.05 0.01 1.50 0.21 0.03 0.01 0.10 0.02 0.04 0.00 0.00 0.03 0.01 0.12 0.08 0.00 0.08 0.06 0.20 0.02 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.03 0.01 0.01 0.00 0.01 0.00 0.01 0.01 0.01 0.00 0.03 0.03 0.03 0.08 0.08 0.03 0.01 0.01 0.05 0.04 0.07 0.04 0.00 0.02 0.01 0.16 0.19 0.01 0.01 0.00 0.01 0.00 0.00 0.04 0.01 0.00 0.01 0.00 0.01 0.00 0.01 0.00 0.00 0.01 0.01 0.01 0.00 0.02 0.03 0.03 0.01 0.02 0.01 0.00 0.00 0.01 0.00 0.03 0.09 0.20 0.25 0.01 0.00 0.02 0.02 0.03 0.02 0.00 0.03 0.05 0.05 0.07 0.01 0.07 0.63 0.33 0.00 0.00 0.08 0.01 0.01 0.00 0.01 0.03 0.01 0.02 0.01 0.00 0.01 0.00 0.00 0.01 0.01 0.03 0.04 0.00 0.02 0.02 0.01 0.00 0.00 0.00 0.04 0.01 0.01 0.00 0.00 0.00 0.00 0.05 0.04 0.02 0.03

(100s)

High Low

Stock

0.44 0.32 0.15 0.39 0.25 0.22 0.30 1.84 2.44 0.21 0.14 0.25 0.32 0.17 0.25 0.13 0.48 0.37 0.10 0.14 3.34 6.56 1.47 1.28 0.18 0.11 0.27 0.45 2.35 0.13 0.19 0.58 0.61 0.81 0.27 0.35 0.00 0.14 0.16 0.35 1.98 0.50 0.71 0.56 15.00 14.90 0.13 0.17 0.38 0.51 0.75 0.18 0.26 0.30 2.02 2.70 6.24 0.04 1.50 1.14 4.62 0.35 0.14 0.11 0.18 0.03 0.20 0.14 0.18 0.21 0.22 0.16 0.01 0.28 0.13 0.20 0.38 0.32 0.44 0.50 0.36 0.36 1.00 0.79 0.25 0.38 0.33 3.07 0.20 6.89 5.20 0.01 0.56 0.60 8.32 6.43 0.12 0.09 0.07 0.10 0.80 0.18 3.85 1.14 0.86 0.50 0.08 0.05 0.05 0.59 0.43 0.14 0.19 0.03 0.03 0.28 0.40 0.27 0.53 0.17 0.21 0.17 0.51 0.39 0.09 0.06 0.72 0.95 6.19 8.10 0.34 0.26 0.52 0.68 0.18 0.22 1.01 0.79 1.04 0.34 0.43 0.89 0.88 19.83 14.62 0.01 1.07 1.42 0.73 0.10 0.07 0.06 0.63 0.14 0.24 0.20 0.15 0.27 0.20 0.07 0.10 0.14 0.35 0.45 0.12 0.67 2.25 1.63 0.08 0.10 0.67 0.93 0.16 0.40 0.01 0.06 0.14 0.16 0.54 0.41 2.94 0.15

Harfang Explor Harfang Explor* Harmony Gold* Harte Gold Harte Gold* Harvest Gold* Harvest Gold Hawkeye Gld&Di Hawkeye Gld&Di* Heatherdale Rs Hecla Mining* Heliostar Met* Heliostar Met Hemcare Health* Hemlo Expl* Hemlo Expl Heron Res* HFX Holding High Point Exp Highbank Res HighGold* HighGold Highland Copp* Highland Copp Highway 50 Gld Highway 50 Gld* HiHo Silver HiHo Silver* Hinterland Mtl* Hochschild Mg* Honey Badger* Honey Badger Horizonte Mnls HudBay Min HudBay Min* Hudson Res* Hudson Res Hunt Mng* Hunt Mng Hybrid Mineral Hylands Intl

V O N T O O V V O V N O V O O V O V C V O V O V V O C O O O O V T T N O V O V V V

I-Minerals I-Minerals* IAMGOLD IAMGOLD* Icon Explor* Iconic Mnls * Iconic Mnls Idaho Champion Idaho Champion* IEMR Res IM Exploration IMC Intl Mng IMC Intl Mng* iMetal Res* iMetal Res IMPACT Silver Impala Platnm* Imperial Metal* Imperial Metal Imperial Mg Gr Inca One Gold* Inca One Gold Inception Mng * Independence G* Independence G Indiana Res* Indigo Expl Infinite Ore* Infinite Ore Inflection Res Inomin Mines Intact Gold* Intact Gold Integra Res Integra Res* Inter-Rock Mnl* Inter-Rock Mnl Interconnect Intercontinent* Intercontinent Intl Battery Intl Battery* Intl Bethl Mng Intl Bethl Mng* Intl Cobalt* Intl Cobalt Intl Cons Uran* Intl Cons Uran Intl Lithium Intl Lithium* Intl Millm Mng Intl Montoro* Intl Montoro Intl Prospect * Intl Prospect Intl Star* Intl Tower Hil* Intl Tower Hil Intl Zeolite Intl Zeolite* Intrepid Pots* INV Metals* INV Metals Inventus Mg * Inventus Mg InZinc Mining InZinc Mining* Ion Energy Irving Res* Irving Res IsoEnergy Ltd Itafos* Itafos Itoco Inc* Ivanhoe Mines* Ivanhoe Mines Ivor Explor Jade Leader Jaeger Res Jaguar Mng Jaguar Mng* Japan Gold Japan Gold* Jasper Mining* Jasper Mining Jaxon Mining* Jaxon Mining Jayden Res Jayden Res* Jazz Res Jervois Mining Jervois Mining* JNC Resources* JNC Resources Josemaria Res Joshua Gold* Jourdan Res Jubilee Gold Jubilee Metals* Juggernaut Exp* Juggernaut Exp Jupiter Gold* K2 Gold K9 Gold* K92 Mining K92 Mining* Kainantu Res Kaizen Discov Kaizen Discvry* Kanadario Gold Karam Min Karnalyte Res Karoo Expl Karora Res* KAT Expl* Kenadyr Mining* Kenadyr Mining Kerr Mines* Kerr Mines Kesselrun Res* Kesselrun Res Kestrel Gold Kilo Goldmines Kilo Goldmines* Kincora Copper* Kincora Copper King Global* King Global Kingman Min Kings Bay Res Kingsmen Res Kingsmen Res* Kinross Gold Kinross Gold* Kintavar Exp Kirkland Lake* Kirkland Lake Klondike Gold*

V O T N O O V C O V C C O O V V O O T V O V O O V O V O V C V O V V X O V V O V C O V O O C O V V O V O V O V O X T V O N O T O V V O V O C V O V O O T C V V T O V O O V O V V O V V O O C T O V V O O V O V O T O V V O V C T V O O O V O T O V V V O O V O V V V V O T N V N T O

0.07 0.05 0.07 0.03 0.02 0.05 0.05 0.09 0.13 0.05 0.01 0.04 0.04 0.10 0.08 0.07 0.15 0.11 0.05 0.06 1.29 2.51 0.18 0.23 0.02 0.03 0.11 0.05 0.55 0.03 0.03 0.00 0.19 0.26 0.05 0.08 0.00 0.01 0.02 0.20 0.37 0.10 0.02 0.01 4.09 3.79 0.02 0.02 0.24 0.21 0.18 0.06 0.05 0.04 1.17 1.50 2.02 0.01 0.46 0.27 0.75 0.11 0.02 0.02 0.09 0.02 0.12 0.05 0.07 0.04 0.09 0.06 0.00 0.03 0.02 0.04 0.04 0.02 0.06 0.06 0.05 0.07 0.20 0.13 0.04 0.04 0.10 0.66 0.03 2.56 1.85 0.00 0.03 0.03 3.10 5.15 0.06 0.04 0.01 0.02 0.11 0.06 0.85 0.20 0.14 0.09 0.02 0.01 0.01 0.07 0.18 0.04 0.07 0.01 0.01 0.00 0.12 0.00 0.12 0.02 0.08 0.05 0.10 0.08 0.03 0.03 0.07 0.10 2.10 2.88 0.09 0.06 0.07 0.10 0.08 0.03 0.00 0.10 0.15 0.00 0.03 0.30 0.30 3.68 7.46 0.00 0.23 0.32 0.11 0.04 0.05 0.01 0.05 0.03 0.04 0.13 0.06 0.08 0.05 0.01 0.02 0.02 0.09 0.12 0.00 0.08 0.67 0.53 0.02 0.03 0.29 0.43 0.07 0.08 0.00 0.01 0.01 0.02 0.14 0.10 0.45 0.06

Exc Volume

Week

12-month

High

Low

Last

159 4 16869 2258 298 34 123 1583 49 69 29811 42 82 33 1 48 3 120 0 395 93 601 198 645 305 8 10 40 4 137 86 594 206 3079 4004 36 108 174 148 29 7

0.35 0.27 4.94 0.12 0.09 0.12 0.17 0.03 0.02 0.94 6.35 0.95 1.21 1.24 0.64 0.75 0.03 0.02 0.00 0.01 1.56 2.02 0.05 0.06 0.40 0.23 0.02 0.02 0.79 2.87 0.06 0.07 0.14 8.83 6.86 0.25 0.30 0.10 0.12 0.40 0.04

0.33 0.27 4.56 0.11 0.08 0.00 0.16 0.02 0.01 0.00 5.82 0.86 1.13 1.18 0.53 0.66 0.03 0.02 0.00 0.01 1.26 1.60 0.04 0.05 0.35 0.23 0.02 0.02 0.01 2.72 0.05 0.06 0.11 8.44 6.55 0.21 0.26 0.07 0.11 0.00 0.04

0.35 0.27 4.77 0.12 0.09 0.12 0.17 0.03 0.02 0.86 6.24 0.93 1.21 1.24 0.64 0.70 0.03 0.02 0.25 0.01 1.53 1.99 0.04 0.05 0.39 0.23 0.02 0.02 0.79 2.79 0.05 0.07 0.14 8.66 6.76 0.22 0.28 0.10 0.12 0.39 0.04

1399 1658 4015 14640 52 86 262 449 32 48 80 1289 493 100 598 1167 4 20 276 689 81 56 443 94 566 9 235 23 252 181 133 4 34 157 162 2 47 80 1 26 327 465 68 40 665 471 46 347 306 270 1472 46 480 5 36 94088 846 51 379 9 271 11 508 468 483 2172 180 95 154 72 548 14 72 459 404 2734 7 77 383 445 116 352 326 1 1 73 225 875 41 24 633 980 14 24 248 297 48 3 32 20 74 10 390 1617 1179 409 75 60 17 21 1 25 42 520 64764 480 1274 226 1095 29 407 4486 327 301 11 1571 2 177 785 470 198 232 13926 60549 622 4544 4703 160

0.03 0.03 4.90 3.81 0.06 0.10 0.13 0.23 0.18 0.02 0.10 0.24 0.19 0.09 0.12 1.08 12.90 3.92 5.10 0.10 0.45 0.57 0.02 0.13 0.17 0.04 0.06 0.05 0.06 0.43 0.13 0.03 0.06 4.95 3.88 0.31 0.38 0.08 0.12 0.13 0.33 0.25 0.03 0.01 0.01 0.02 1.17 1.55 0.05 0.04 0.02 0.05 0.06 0.09 0.11 0.00 1.57 2.00 0.11 0.05 16.30 0.40 0.54 0.17 0.22 0.04 0.02 0.35 1.76 2.27 2.03 0.23 0.30 0.07 5.07 6.50 0.30 0.06 0.04 7.71 6.00 0.35 0.28 0.03 0.00 0.05 0.07 0.11 0.08 0.26 0.37 0.30 0.54 0.70 0.78 0.13 0.04 0.90 0.16 0.16 0.19 0.93 0.67 0.35 7.46 5.81 0.32 0.05 0.05 1.15 0.00 0.23 0.37 3.18 0.00 0.03 0.04 0.10 0.13 0.14 0.18 0.20 0.01 0.02 0.09 0.12 0.04 0.05 0.12 0.01 0.17 0.12 9.84 7.65 0.11 42.39 54.39 0.20

Change

High Low

+ unch + + unch unch + unch + + unch + unch unch unch unch + + + + + unch unch + + unch + unch unch unch

0.01 0.00 0.01 0.01 0.00 0.01 0.00 0.00 0.01 0.00 0.14 0.02 0.06 0.00 0.11 0.05 0.00 0.00 0.00 0.00 0.22 0.39 0.00 0.01 0.05 0.00 0.01 0.00 0.78 0.03 0.01 0.00 0.02 0.06 0.06 0.03 0.00 0.00 0.01 0.01 0.00

0.45 0.32 7.61 0.22 0.16 0.20 0.29 0.05 0.04 1.35 6.79 1.30 2.25 1.92 0.81 1.11 0.08 0.02 0.39 0.03 2.44 3.14 0.05 0.06 0.40 0.24 0.07 0.21 0.79 4.35 0.21 0.10 0.20 9.54 7.47 0.29 0.38 0.15 0.20 0.75 0.06

0.15 0.17 1.76 0.08 0.05 0.04 0.06 0.01 0.00 0.28 1.40 0.10 0.30 0.55 0.04 0.17 0.01 0.02 0.02 0.01 0.42 0.57 0.01 0.02 0.06 0.04 0.02 0.01 0.00 0.99 0.00 0.01 0.03 1.66 1.23 0.04 0.07 0.02 0.04 0.03 0.03

0.03 + 0.02 + 4.59 3.57 0.05 0.09 0.12 + 0.20 0.17 0.02 unch 0.09 unch 0.23 + 0.17 + 0.08 unch 0.12 + 1.01 unch 12.90 unch 3.88 + 4.97 + 0.10 + 0.45 + 0.57 + 0.02 + 0.13 + 0.16 + 0.04 unch 0.06 + 0.05 0.06 unch 0.43 0.09 0.03 unch 0.05 4.83 + 3.80 0.31 unch 0.37 0.08 unch 0.08 0.13 0.29 + 0.25 + 0.03 + 0.01 unch 0.01 0.02 unch 1.00 1.24 0.05 + 0.04 + 0.02 unch 0.05 + 0.06 + 0.07 0.10 0.00 unch 1.41 1.85 0.09 + 0.05 unch 15.71 0.40 + 0.54 + 0.14 0.21 + 0.03 0.02 0.34 1.66 2.18 + 1.80 0.20 0.27 + 0.07 + 5.05 + 6.48 + 0.30 unch 0.06 unch 0.03 7.62 + 6.00 + 0.32 0.25 0.03 unch 0.05 unch 0.05 unch 0.07 unch 0.09 unch 0.07 0.23 0.37 + 0.28 0.53 unch 0.68 unch 0.77 + 0.12 + 0.04 unch 0.90 unch 0.16 + 0.13 0.18 0.75 0.67 + 0.28 7.45 + 5.80 + 0.32 + 0.05 unch 0.03 1.05 0.17 unch 0.20 0.37 3.00 0.00 0.03 + 0.03 unch 0.10 0.13 + 0.14 0.18 0.13 + 0.01 unch 0.01 0.09 + 0.11 + 0.04 unch 0.05 unch 0.12 + 0.01 unch 0.17 unch 0.12 unch 9.46 + 7.39 0.11 + 41.99 + 53.79 + 0.19 +

0.01 0.01 0.17 0.13 0.01 0.01 0.01 0.02 0.01 0.00 0.00 0.03 0.03 0.00 0.01 0.00 0.00 0.13 0.19 0.03 0.03 0.03 0.00 0.02 0.01 0.00 0.01 0.00 0.00 0.01 0.01 0.00 0.01 0.04 0.01 0.00 0.01 0.00 0.04 0.03 0.01 0.05 0.01 0.00 0.00 0.00 0.03 0.05 0.01 0.01 0.00 0.00 0.01 0.02 0.01 0.00 0.08 0.03 0.02 0.00 0.26 0.10 0.15 0.01 0.01 0.01 0.00 0.01 0.12 0.01 0.10 0.03 0.01 0.01 0.17 0.23 0.00 0.00 0.01 0.19 0.20 0.02 0.01 0.00 0.00 0.00 0.00 0.00 0.01 0.04 0.01 0.00 0.00 0.00 0.04 0.08 0.00 0.00 0.00 0.03 0.02 0.18 0.05 0.03 0.20 0.16 0.05 0.00 0.01 0.10 0.00 0.03 0.04 0.05 0.00 0.00 0.00 0.00 0.01 0.00 0.01 0.02 0.00 0.00 0.02 0.04 0.00 0.00 0.03 0.00 0.00 0.00 0.09 0.24 0.02 0.13 0.14 0.02

0.06 0.05 7.07 5.35 0.14 0.11 0.15 0.44 0.47 0.04 0.18 1.00 0.73 0.47 0.60 1.25 12.90 3.92 5.10 0.11 0.67 0.86 0.08 0.17 0.23 0.06 0.15 0.10 0.14 0.63 0.25 0.03 0.09 5.90 5.50 0.34 0.45 0.11 0.25 0.33 0.35 0.27 0.06 0.03 0.02 0.02 1.17 1.55 0.07 0.05 0.03 0.08 0.11 0.15 0.23 0.00 2.27 3.07 0.11 0.07 27.40 0.78 1.11 0.17 0.22 0.04 0.03 0.50 3.48 4.60 2.18 0.54 0.67 0.20 5.10 6.50 0.42 0.23 0.08 9.20 7.05 0.45 0.34 0.08 0.10 0.09 0.14 0.12 0.10 0.40 0.38 0.31 5.24 0.72 0.91 0.19 0.05 0.90 0.17 0.20 0.26 1.50 0.96 0.65 8.50 6.50 0.35 0.08 0.06 1.49 0.30 0.33 1.28 3.57 0.00 0.06 0.08 0.15 0.18 0.37 0.47 0.20 0.03 0.04 0.14 0.19 0.05 0.07 0.23 0.03 0.22 0.15 13.59 10.32 0.15 57.69 76.43 0.29

0.02 0.01 2.00 1.44 0.01 0.02 0.04 0.04 0.05 0.01 0.04 0.10 0.07 0.06 0.08 0.22 4.60 0.70 0.99 0.03 0.01 0.16 0.01 0.01 0.03 0.02 0.06 0.03 0.03 0.36 0.03 0.02 0.03 1.53 3.06 0.13 0.16 0.06 0.08 0.09 0.07 0.05 0.01 0.01 0.00 0.01 0.02 0.10 0.03 0.02 0.01 0.01 0.01 0.06 0.08 0.00 0.33 0.43 0.02 0.02 6.00 0.13 0.17 0.08 0.10 0.01 0.01 0.27 1.02 1.45 0.23 0.14 0.21 0.03 1.35 1.80 0.20 0.04 0.01 1.30 0.91 0.21 0.12 0.03 0.03 0.02 0.03 0.01 0.00 0.14 0.11 0.05 0.24 0.18 0.31 0.04 0.01 0.38 0.03 0.06 0.11 0.20 0.11 0.07 1.55 1.12 0.25 0.03 0.02 0.13 0.10 0.09 0.07 2.30 0.00 0.02 0.02 0.06 0.10 0.02 0.03 0.01 0.01 0.00 0.02 0.02 0.00 0.02 0.06 0.01 0.08 0.06 4.00 2.72 0.05 18.03 25.67 0.10

I-J-K 0.03 0.02 4.47 3.46 0.05 0.09 0.12 0.19 0.14 0.02 0.09 0.19 0.14 0.00 0.10 1.01 12.90 3.51 4.51 0.08 0.41 0.52 0.02 0.12 0.15 0.04 0.00 0.05 0.06 0.41 0.09 0.03 0.05 4.80 3.71 0.31 0.00 0.08 0.08 0.00 0.28 0.19 0.03 0.01 0.01 0.01 0.99 1.23 0.04 0.03 0.02 0.05 0.05 0.07 0.10 0.00 1.34 1.63 0.07 0.05 15.08 0.32 0.38 0.14 0.20 0.03 0.02 0.33 1.64 2.11 1.69 0.19 0.00 0.05 4.77 6.12 0.30 0.06 0.00 7.12 5.50 0.32 0.24 0.03 0.00 0.05 0.06 0.08 0.00 0.00 0.34 0.23 0.53 0.66 0.74 0.06 0.00 0.90 0.14 0.13 0.18 0.75 0.60 0.25 7.03 5.45 0.26 0.04 0.03 1.00 0.00 0.20 0.32 2.93 0.00 0.02 0.03 0.09 0.12 0.13 0.17 0.12 0.01 0.01 0.06 0.08 0.04 0.00 0.09 0.01 0.16 0.12 9.17 7.09 0.10 40.45 52.32 0.17

M I N ER

/ J AN U AR Y 4 â&#x20AC;&#x201D; 1 7 , 2 0 2 1

(100s) Stock

Exc Volume

Week High

Low 0.23 0.14 0.17 1.21 0.20 0.26 0.30 0.38 0.00 0.00 1.22 1.61 0.21 2.10 1.52 0.01 0.00

Klondike Gold Klondike Silv* Klondike Silv Kodiak Copper* Kombat Copper* Kombat Copper Kootenay Silvr* Kootenay Silvr Kootenay Zinc Kootenay Zinc* Kore Mining * Kore Mining Kutcho Copper * Kuya Silver Kuya Silver* KWG Res KWG Res*

V O V O O V O V C O O V O C O C O

190 2124 4273 47 210 97 758 1510 31 0 425 1133 182 422 270 473 2

0.25 0.17 0.22 1.36 0.22 0.29 0.34 0.44 0.17 0.00 1.55 2.01 0.24 2.45 2.08 0.01 0.00

Labrador Gold* Labrador Gold Labrador IMH* Labrador IOR* Labrador IOR Lake Resources* Lara Expl Laramide Res Laredo Res* Largo Res* Largo Res Lasalle Explor* Lasalle Explor Latin Metals* Latin Metals Laurion Mnl Ex Laurion Mnl Ex* Le Mare Gold* Le Mare Gold Leading Edge Leading Edge* Leeta Gold Legion Metals Lepanto Con Mg* Libero Copper* Libero Copper Liberty Gold* Liberty One Li Liberty One Li* Lida Resources* Lido Minerals Lightspeed Dis Lincoln Mng Lion One Mtls Lion One Mtls* Lithium Amer Lithium Amer* Lithium Chile Lithium Chile* Lithium Corp* Lithium Energi* Lithium Energi Lithoquest Res* Lithoquest Res LKA Gold* Lode-Star Mg* Logan Res* Logan Res Lomiko Mtls Lomiko Mtls* Loncor Res* Loncor Res Lone Star Gold* Los Andes* Los Andes Lovitt Res Lovitt Res* Lucara Diam Lucky Min* Lucky Min Luckystrike * Luckystrike Lumina Gold* Lumina Gold Luminex Res Lundin Gold Lundin Mng* Lundin Mng Lupaka Gold * Lupaka Gold Lydian Intl* Lynas Corp* Lynas Corp*

O V O O T O V T O O T O V O V V O O V V O V C O O V O V O O C V V V O T N V O O O V O V O O O V V O O T O O V V O T O V O V O V V T O T O V O O O

1054 1662 1887 15 1001 4253 52 2934 2773 2958 2673 457 297 17 82 234 12 34 132 305 294 38351 584 92 657 1901 553 88 266 456 46 3 10 756 569 5156 38301 421 103 2082 48 207 0 1091 8 64 20 98 959 791 31 136 5 0 67 80 0 601 35 1081 20 13 583 434 332 906 121 8369 24 687 213 908 329

0.31 0.40 0.20 27.86 35.42 0.06 0.70 0.36 0.00 1.16 1.48 0.13 0.16 0.12 0.18 0.20 0.15 0.03 0.05 0.38 0.30 2.94 0.19 0.00 0.07 0.10 1.35 0.60 0.05 0.04 0.21 0.17 0.15 1.53 1.20 16.66 12.98 0.21 0.17 0.32 0.09 0.12 0.00 0.08 0.10 0.15 0.24 0.32 0.05 0.04 0.46 0.59 0.95 0.00 6.98 0.20 0.00 0.53 0.07 0.11 0.31 0.48 0.71 0.91 0.71 11.49 8.60 11.06 0.03 0.05 0.02 3.03 3.05

Macarthur Min* Macarthur Min MacDonald Mns* MacDonald Mns MAG Silver Magellan Gold* Magna Gold Magna Gold* Magna Terra Magnum Goldco Majestic Gold* Majestic Gold Major Precious* Major Precious Makara Mining* Makara Mining Makena Res* Mako Mining* Mako Mining Mammoth Res * Mammoth Res Mandalay Res Mandalay Res* Manganese X* Manganese X Mangazeya Mng Mangazeya Mng* Manitou Gold * Manitou Gold Maple Gold* Maple Gold Marathon Gold* Marathon Gold Marifil Mines* Marifil Mines Marimaca Cop Marimaca Cop* Mariner Res* Maritime Res Martina Mnls MartinMarietta* Mas Gold Mascota Res* Mason Graphite* Mason Graphite Matachewan Con Matica Ent Matmown* Maverix Metals Maverix Metals* Mawson Res* Mawson Res MAX Res MaxTech Vent MaxTech Vent* Maxwell Res* Mazarin McChip Res McEwen Mng* McEwen Mng McLaren Res MDN Inc* Mechel* Medallion Res Medallion Res* Medgold Res* Medgold Res Medinah Mnrls* Mega Copper Mega Uranium* Mega Uranium Megastar Dev Megastar Dev* MegumaGold MegumaGold* Melkior Res* Melkior Res Mensa Mng Corp* Meridian Mg Meridian Mg * Meryllion Res* Meryllion Res MetalCorp* MetalCorp Metalex Vent Metalex Vent *

O V O V T O V O V V O V O C O C O O V O V T O O V V O O V O V O T O V T O O V V N V O O V V C O T X O T V C O O V V N T C O N V O O V O V O T V O C O O V O V O O C O V V O

13 193 1430 1577 912 19 125 64 28 82 44 62 411 3757 173 156 518 242 637 106 546 127 40 2318 3793 102 40 232 451 4466 2720 231 1575 54 216 125 4 34 2695 10 1395 83 0 364 658 42 1534 60 246 460 227 730 731 413 216 0 268 16 10485 1386 283 7 7203 607 1507 97 578 3643 5 1314 3604 151 34 797 147 62 106 0 207 5 0 25 92 226 505 23

0.39 0.51 0.06 0.07 24.44 1.07 1.06 0.82 0.19 0.05 0.04 0.06 0.33 0.44 0.52 0.67 0.82 0.31 0.40 0.09 0.11 1.90 1.47 0.21 0.27 0.08 0.05 0.05 0.06 0.27 0.35 2.28 2.98 0.04 0.05 3.44 2.61 0.53 0.15 0.06 278.85 0.09 2.50 0.30 0.38 0.14 0.03 0.00 6.92 5.40 0.33 0.41 0.43 0.07 0.05 0.03 0.09 0.52 1.04 1.34 0.07 0.47 2.30 0.33 0.25 0.04 0.04 0.00 0.12 0.15 0.20 0.14 0.11 0.11 0.08 0.67 0.88 0.00 0.22 0.16 0.00 0.14 0.06 0.07 0.11 0.08

12-month

Last

Change

0.24 + 0.16 + 0.21 + 1.28 + 0.22 0.28 0.34 + 0.42 + 0.14 + 0.10 unch 1.33 + 1.70 + 0.24 + 2.10 1.66 0.01 unch 0.00 unch

High Low

0.01 0.04 0.05 0.06 0.01 0.01 0.04 0.04 0.01 0.00 0.14 0.21 0.01 0.20 0.12 0.00 0.00

0.39 0.17 0.22 2.51 0.35 0.54 0.46 0.54 3.00 1.16 1.55 2.01 0.27 2.45 2.08 0.01 0.01

0.14 0.01 0.02 0.12 0.05 0.05 0.08 0.12 0.12 0.10 0.09 0.15 0.03 0.45 0.32 0.01 0.00

+ + + + + + + + + + + + + unch + + unch + unch + unch + + unch + + + unch + unch + unch + + + + + unch + unch + + + + + + + unch + -

0.05 0.06 0.01 0.26 0.46 0.00 0.02 0.03 0.00 0.12 0.12 0.01 0.01 0.02 0.04 0.01 0.01 0.00 0.01 0.04 0.03 0.36 0.01 0.00 0.01 0.02 0.04 0.03 0.00 0.00 0.00 0.05 0.00 0.14 0.11 3.88 2.97 0.00 0.00 0.07 0.01 0.01 0.00 0.02 0.00 0.05 0.00 0.03 0.01 0.00 0.03 0.03 0.04 0.00 0.03 0.02 0.00 0.03 0.00 0.02 0.06 0.06 0.00 0.01 0.01 0.20 0.44 0.61 0.01 0.00 0.01 0.04 0.09

0.50 0.63 0.26 27.86 35.42 0.32 1.02 0.37 0.01 1.28 1.66 0.16 0.22 0.12 0.16 0.24 0.18 0.05 0.09 0.43 0.33 3.15 0.45 0.00 0.16 0.22 1.82 0.75 0.06 0.20 0.30 0.33 0.28 2.66 2.00 22.47 16.97 0.43 0.33 0.33 0.14 0.24 0.05 0.08 0.20 0.28 18.09 0.90 0.07 0.05 0.66 0.89 2.33 5.51 7.50 0.27 0.20 0.91 0.22 0.27 0.43 0.58 0.91 1.19 1.08 13.49 8.75 10.84 0.04 0.05 0.07 3.29 3.26

0.10 0.10 0.00 9.71 13.25 0.02 0.45 0.10 0.00 0.40 0.56 0.10 0.08 0.04 0.05 0.09 0.09 0.03 0.05 0.01 0.03 0.09 0.14 0.00 0.02 0.03 0.38 0.40 0.01 0.02 0.19 0.08 0.05 0.72 0.50 2.90 1.92 0.10 0.07 0.05 0.03 0.03 0.03 0.03 0.04 0.04 0.00 0.06 0.02 0.01 0.22 0.32 0.32 2.66 1.95 0.09 0.09 0.40 0.04 0.06 0.17 0.16 0.29 0.46 0.41 5.82 2.82 4.08 0.00 0.01 0.00 0.58 0.55

0.38 0.38 0.48 0.48 0.05 0.05 0.07 0.07 unch 22.74 23.88 + 0.75 1.05 unch 0.98 1.00 0.76 0.78 0.19 0.19 + 0.00 0.05 unch 0.00 0.04 0.00 0.06 + 0.21 0.32 + 0.23 0.40 + 0.40 0.49 + 0.58 0.62 unch 0.60 0.73 + 0.28 0.29 0.37 0.38 0.06 0.09 + 0.10 0.11 + 1.63 1.87 + 1.22 1.47 + 0.14 0.20 + 0.19 0.25 + 0.07 0.08 0.05 0.05 0.04 0.05 + 0.05 0.05 unch 0.21 0.26 + 0.28 0.33 unch 2.15 2.27 + 2.80 2.90 + 0.03 0.03 0.05 0.05 unch 3.18 3.20 2.49 2.51 0.46 0.52 + 0.12 0.15 + 0.06 0.06 unch 269.08 275.05 0.08 0.09 + 0.00 2.50 + 0.24 0.27 + 0.32 0.35 + 0.13 0.13 unch 0.02 0.03 unch 0.00 0.00 6.59 6.69 + 5.11 5.23 + 0.26 0.31 + 0.35 0.38 + 0.39 0.42 + 0.07 0.07 unch 0.04 0.05 0.00 0.03 unch 0.05 0.05 0.44 0.52 + 0.96 0.98 1.23 1.25 0.00 0.07 + 0.43 0.45 1.60 2.03 + 0.23 0.32 + 0.18 0.24 + 0.03 0.03 0.04 0.04 unch 0.00 0.00 + 0.11 0.11 0.13 0.14 0.17 0.18 0.12 0.12 0.09 0.10 0.09 0.09 0.07 0.08 0.65 0.67 + 0.82 0.86 + 0.00 0.00 unch 0.20 0.22 unch 0.16 0.16 0.00 0.00 unch 0.12 0.12 0.05 0.06 unch 0.06 0.06 unch 0.08 0.09 + 0.07 0.08 +

0.00 0.01 0.00 0.00 0.93 0.00 0.03 0.04 0.01 0.00 0.01 0.01 0.10 0.17 0.02 0.00 0.10 0.01 0.02 0.01 0.02 0.23 0.09 0.04 0.05 0.01 0.00 0.00 0.00 0.00 0.00 0.07 0.09 0.00 0.00 0.22 0.15 0.02 0.01 0.00 1.30 0.01 0.49 0.01 0.02 0.00 0.00 0.00 0.03 0.01 0.02 0.03 0.02 0.00 0.01 0.00 0.04 0.06 0.04 0.06 0.01 0.02 0.31 0.07 0.04 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.03 0.04 0.00 0.00 0.00 0.00 0.04 0.00 0.00 0.01 0.02

0.50 0.67 0.10 0.15 26.29 1.71 1.89 1.46 0.48 0.08 0.06 0.08 0.52 0.82 1.27 1.65 0.82 0.50 0.54 0.10 0.11 2.12 1.65 0.85 1.11 0.13 0.09 0.07 0.08 0.42 0.56 2.38 2.99 0.08 0.11 3.71 2.80 0.63 0.23 0.06 287.51 0.14 2.60 0.43 0.57 0.19 0.05 0.05 7.78 6.00 0.44 0.57 0.55 0.12 0.09 0.20 0.18 0.57 1.53 2.02 0.18 0.63 3.43 0.41 0.31 0.06 0.08 0.00 0.29 0.15 0.20 0.20 0.14 0.21 0.16 1.00 1.25

0.04 0.07 0.04 0.05 5.33 0.20 0.24 0.02 0.18 0.03 0.02 0.04 0.17 0.13 0.30 0.27 0.22 0.18 0.25 0.02 0.02 0.46 0.38 0.04 0.06 0.04 0.02 0.02 0.03 0.03 0.04 0.52 0.71 0.02 0.03 1.00 0.03 0.34 0.05 0.05 135.08 0.03 0.51 0.08 0.12 0.10 0.02 0.00 3.10 2.51 0.11 0.16 0.06 0.03 0.02 0.03 0.05 0.39 0.53 0.76 0.03 0.14 1.28 0.05 0.03 0.02 0.03 0.00 0.02 0.03 0.05 0.05 0.05 0.09 0.06 0.01 0.06

L 0.25 0.32 0.15 26.35 33.93 0.05 0.66 0.28 0.00 1.01 1.29 0.11 0.14 0.09 0.15 0.19 0.00 0.03 0.05 0.32 0.24 1.96 0.17 0.00 0.06 0.08 1.22 0.49 0.03 0.03 0.20 0.00 0.00 1.33 1.03 11.60 9.03 0.18 0.15 0.21 0.08 0.10 0.00 0.06 0.04 0.10 0.24 0.00 0.05 0.03 0.42 0.54 0.84 0.00 6.57 0.18 0.00 0.50 0.06 0.07 0.30 0.00 0.69 0.89 0.68 10.66 7.48 10.06 0.03 0.04 0.01 2.81 2.85

0.31 0.39 0.18 27.26 34.98 0.05 0.66 0.35 0.00 1.04 1.33 0.11 0.14 0.12 0.18 0.20 0.15 0.03 0.05 0.38 0.29 2.16 0.19 0.00 0.06 0.08 1.32 0.55 0.04 0.04 0.20 0.17 0.15 1.33 1.04 15.80 12.31 0.21 0.17 0.29 0.08 0.10 0.04 0.08 0.10 0.15 0.24 0.32 0.05 0.04 0.46 0.57 0.91 5.51 6.95 0.20 0.18 0.51 0.06 0.10 0.30 0.47 0.71 0.91 0.71 11.03 8.53 10.92 0.03 0.05 0.02 2.96 2.95

0.39 0.26 0.04 0.20 0.08 0.11 0.11 0.08

0.06 0.05 0.00 0.05 0.00 0.01 0.02 0.01

J AN U AR Y 4 — 1 7 , 2 0 2 1

/ TH E N OR TH ER N

M I N ER

ST O C K TA B L E S (100s) Stock

Exc Volume

Week Low

14.27 14.50 + 0.63 0.68 0.50 0.52 0.02 0.02 + 0.00 0.30 + 0.00 0.10 unch 2.65 2.66 + 2.07 2.07 unch 0.05 0.06 + 0.00 0.07 + 0.10 0.10 0.30 0.37 + 0.07 0.08 + 0.05 0.06 unch 0.04 0.04 0.23 0.23 unch 1.25 1.25 0.95 0.98 + 0.09 0.09 unch 0.83 0.89 unch 0.17 0.19 + 0.21 0.22 + 0.26 0.28 + 1.89 2.18 + 2.57 2.81 + 0.09 0.09 0.11 0.12 0.50 0.54 + 0.39 0.43 + 0.37 0.43 + 0.48 0.55 + 0.51 0.53 0.66 0.68 0.11 0.12 0.15 0.15 0.18 0.21 0.26 0.26 0.00 24.16 unch 0.00 0.00 0.04 0.05 + 0.06 0.06 + 0.04 0.05 + 0.06 0.07 + 0.00 0.00 + 0.23 0.25 0.06 0.06 unch 0.42 0.51 + 0.26 0.27 0.22 0.25 + 0.08 0.08 0.09 0.10 0.57 0.61 unch 0.00 0.46 + 0.10 0.12 0.08 0.10 0.52 0.53 0.39 0.41 0.26 0.29 + 0.34 0.37 + 0.18 0.18 0.00 0.14 0.88 0.88 0.01 0.01 unch 0.03 0.04 + 0.27 0.34 + 0.33 0.40 + 0.08 0.09 + 0.06 0.07 + 0.14 0.15 + 0.17 0.18 21.82 21.96 0.06 0.08 + 0.47 0.47 0.39 0.42 + 0.29 0.34 + 0.46 0.46 0.59 0.60 0.86 0.94 0.15 0.16 unch 0.11 0.12 + 0.05 0.05 unch 0.08 0.09 + 0.33 0.33 unch

Metalla Rylty Metallic Mnrls Metallic Mnrls* Metallica Min* Metallis Res Metalo Manuf Metalore Res Metalore Res* Metals Creek* Metals Creek Metals X* Metron Capital Mexican Gold* MGX Minerals MGX Minerals* Mich Resources Midas Gold Midas Gold* Midasco Cap Midland Expl Midnight Star Midnight Sun* Midnight Sun Millennial Lit* Millennial Lit Millrock Res* Millrock Res Minaurum Gold Minaurum Gold* Minco Silver* Minco Silver Minera Alamos * Minera Alamos Minera IRL* Minera IRL Mineral Mtn* Mineral Mtn Mineral Res* MineralRite* Mineworx Tech* Mineworx Tech Minfocus Expl* Minfocus Expl Mining Global* Minnova Corp Minsud Res Mirasol Res Mistango River Mkango Res ML Gold* ML Gold Corp Mojave Gold Mojave Gold* Monarca Mnrls Monarca Mnrls* Monarch Gold Monarch Gold* Moneta Porcpn* Moneta Porcpn Monitor Vent Monitor Vent* Montage Gold Montego Res Monterey Min Montero Mg&Ex * Montero Mg&Ex Monument Mng Monument Mng* Morien Res* Morien Res Mosaic* Mosaic Min Mount Gibson * Mountain Boy Mountain Boy* Mountain Prov* Mountain Prov MPV Explor Mundoro Cap Mundoro Cap* Murchison Min* Murchison Min Musgrave Min*

V 173 V 792 O 395 O 2 V 157 C 2 V 1 O 11 O 129 V 275 O 696 V 128 O 297 C 988 O 617 C 40 T 1116 O 1142 V 40 V 93 C 2253 O 55 V 43 O 68 V 88 O 531 V 446 V 354 O 296 O 22 T 103 O 508 V 507 O 414 C 446 O 160 V 513 O 2 O 228763 O 418 V 733 O 11 V 127 O 1598474 V 243 V 13 V 753 C 767 V 134 O 45 V 44 C 180 O 19 V 2431 O 1069 T 2027 O 516 O 834 T 3599 V 23 O 2 V 164 C 738 C 583 O 68 V 286 V 124 O 77 O 13 V 61 N 15528 C 79 O 13 V 344 O 219 O 148 T 701 C 1481 V 88 O 77 O 2 V 175 O 160

14.93 0.73 0.57 0.02 0.31 0.00 2.66 2.07 0.06 0.07 0.11 0.37 0.08 0.06 0.05 0.23 1.33 1.05 0.09 0.89 0.20 0.23 0.28 2.21 2.85 0.10 0.12 0.56 0.43 0.43 0.55 0.56 0.69 0.13 0.16 0.23 0.29 0.00 0.00 0.05 0.06 0.06 0.07 0.00 0.26 0.06 0.51 0.31 0.25 0.08 0.10 0.64 0.49 0.14 0.11 0.55 0.43 0.30 0.39 0.19 0.15 0.92 0.01 0.04 0.38 0.49 0.09 0.07 0.15 0.20 23.30 0.08 0.74 0.43 0.34 0.53 0.66 1.05 0.16 0.12 0.05 0.10 0.33

NA Frac Sand* NACCO Ind* Namibia Crit Namibia Crit* Napier Vent* Natural Res Pt* Nautilus Mnrls* Navis Res Corp* Navy Res Neo Lithium Neometals* Network Expl Network Expl* Nevada Canyon* Nevada Copper Nevada Expl * Nevada Expl Nevada Sunrise* Nevada Sunrise Nevada Zinc Nevado Res New Age Metals* New Age Metals New Carolin Gd* New Carolin Gd New Destiny Mg* New Destiny Mg New Energy Met* New Energy Met New Found Gold New Gold New Gold* New Guinea Gld* New Jersey Mng* New Milln Iron* New Milln Iron New Oroperu New Pac Metals New Placer* New Placer New Stratus New Tech Min* New Tech Min New World Res* Newcore Gold Newcore Gold* Newcrest Mg Newcrest Mg* Newlox Gold Newmac Res Newmont Corp* Newmont Corp Newport Expl Newport Gold* NewRange Gold* NewRange Gold Nexa Resources Nexa Resources* Nexco Res Nexgen Energy Nexgen Energy* NextSource Mat Nexus Gold* Nexus Gold NGEx Minerals* NGEx Minerals Nickel Creek Nickel Creek* Nickel North Nickel Rock Nickel Rock* Nicola Mg Inc* Nicola Mg Inc Nighthawk Gold* Nighthawk Gold Niobay Metals Niocan Inc Niocorp Dev Niocorp Dev* Nippon Dragon Nippon Dragon* Noble Metal Noble Mineral Noble Mineral* Noram Vent Noram Vent* Noranda Alum* Norilsk Nickel* Noront Res*

O N V O O N O O V V O V O O T O V O V V V O V O V O V O V V T X O O O T V T O V V O C O V O T O C V N T V O O V T N C T X T O V O V T O V V O O V O T V V T O V O V V O V O O O O

0.01 28.63 0.25 0.20 0.00 14.34 0.00 3.50 0.63 1.64 0.36 0.81 0.64 0.45 0.13 0.12 0.16 0.12 0.15 0.16 0.13 0.09 0.10 0.04 0.05 0.06 0.08 0.06 0.10 4.46 3.05 2.37 0.00 0.28 0.30 0.37 3.00 7.01 0.26 0.33 0.42 0.07 0.10 2.25 0.76 0.59 26.50 21.00 0.21 0.08 61.24 78.69 0.49 0.00 0.11 0.15 10.84 8.65 0.25 3.71 2.89 0.09 0.07 0.09 0.40 0.50 0.16 0.14 0.04 0.26 0.20 0.11 0.14 1.03 1.33 0.61 0.17 0.78 0.62 0.05 0.04 0.01 0.08 0.06 0.52 0.39 0.03 31.70 0.15

Last

12-month

High

Change

Stock

0.24 0.01 0.03 0.00 0.02 0.00 0.01 0.00 0.00 0.01 0.01 0.07 0.01 0.00 0.00 0.00 0.02 0.02 0.00 0.00 0.01 0.00 0.01 0.09 0.14 0.01 0.01 0.03 0.02 0.03 0.07 0.01 0.01 0.01 0.01 0.00 0.02 0.00 0.00 0.00 0.01 0.01 0.01 0.00 0.01 0.00 0.09 0.05 0.04 0.00 0.01 0.00 0.01 0.01 0.00 0.02 0.00 0.03 0.03 0.01 0.00 0.06 0.00 0.01 0.06 0.05 0.01 0.01 0.02 0.02 1.43 0.02 0.08 0.04 0.03 0.08 0.08 0.08 0.00 0.00 0.00 0.01 0.00

15.68 1.30 0.94 0.03 0.64 0.30 3.65 2.07 0.08 0.10 0.11 0.42 0.15 0.15 0.11 0.40 2.04 1.55 0.09 1.13 0.35 0.26 0.33 2.42 3.18 0.23 0.32 0.85 0.67 0.60 0.83 0.62 0.78 0.18 0.25 0.41 0.51 26.45 0.00 0.11 0.13 5.00 0.09 0.00 0.60 0.10 0.62 0.41 0.25 0.16 0.18 0.67 0.52 0.30 0.20 0.60 0.46 0.30 0.39 0.45 0.33 1.27 0.06 0.10 0.30 0.40 0.12 0.09 0.50 0.65 23.70 0.10 0.74 0.69 0.52 0.86 1.21 1.15 0.21 0.14 0.11 0.18 0.60

4.06 0.10 0.07 0.01 0.11 0.07 1.00 0.81 0.02 0.03 0.03 0.15 0.01 0.04 0.02 0.15 0.24 0.16 0.07 0.46 0.10 0.04 0.03 0.38 0.61 0.06 0.09 0.22 0.16 0.14 0.20 0.11 0.16 0.07 0.05 0.16 0.22 11.60 0.00 0.04 0.05 0.01 0.02 0.00 0.05 0.01 0.29 0.03 0.05 0.06 0.08 0.03 0.02 0.02 0.01 0.11 0.07 0.04 0.06 0.12 0.08 0.75 0.01 0.02 0.03 0.01 0.04 0.00 0.06 0.08 6.50 0.05 0.40 0.14 0.09 0.17 0.25 0.21 0.09 0.06 0.04 0.05 0.32

0.00 2.60 0.01 0.02 0.00 0.43 0.00 0.27 0.00 0.06 0.05 0.14 0.05 0.10 0.01 0.01 0.03 0.02 0.02 0.03 0.01 0.01 0.01 0.00 0.00 0.00 0.01 0.00 0.00 0.38 0.05 0.08 0.00 0.03 0.00 0.00 0.10 1.01 0.01 0.03 0.07 0.01 0.02 0.26 0.02 0.02 0.37 0.67 0.01 0.01 0.02 0.27 0.02 0.00 0.00 0.01 0.89 1.11 0.00 0.08 0.10 0.01 0.02 0.03 0.00 0.02 0.04 0.03 0.00 0.01 0.01 0.02 0.02 0.01 0.02 0.04 0.01 0.00 0.00 0.01 0.01 0.00 0.01 0.00 0.03 0.02 0.00 0.62 0.02

0.03 49.03 0.37 0.29 0.12 22.02 0.02 5.00 0.70 1.74 0.40 0.93 0.69 4.00 0.38 0.30 0.39 0.25 0.31 0.16 0.18 0.11 0.15 0.09 0.11 0.07 0.11 0.20 0.11 4.90 3.05 2.40 0.13 0.39 0.30 0.40 3.59 7.23 0.80 0.95 0.62 0.10 0.15 2.50 0.92 0.70 31.25 26.42 0.21 0.16 72.22 96.45 0.53 0.01 0.31 0.43 12.02 9.18 0.30 3.71 2.89 0.09 0.12 0.14 0.50 0.69 0.33 0.24 0.10 0.26 0.20 0.14 0.21 2.20 2.90 0.93 0.28 1.02 0.78 0.09 0.06 0.03 0.14 0.10 0.53 0.42 0.15 35.52 0.18

0.00 17.95 0.10 0.06 0.00 8.50 0.00 0.92 0.12 0.38 0.05 0.08 0.06 0.12 0.06 0.08 0.12 0.01 0.01 0.03 0.07 0.02 0.04 0.02 0.03 0.03 0.02 0.00 0.03 1.24 0.55 0.39 0.00 0.12 0.03 0.04 0.54 2.34 0.05 0.22 0.03 0.02 0.03 0.36 0.14 0.09 25.02 11.59 0.03 0.03 33.00 44.00 0.25 0.00 0.05 0.07 3.94 2.57 0.06 0.76 0.50 0.02 0.01 0.03 0.16 0.24 0.02 0.02 0.01 0.04 0.02 0.04 0.04 0.34 0.97 0.20 0.10 0.53 0.38 0.01 0.01 0.01 0.03 0.02 0.07 0.05 0.00 18.62 0.08

N-O 25665 53 135 237 500 79 850 53 2 1332 76 224 92 25 11174 351 318 605 467 783 11 934 919 126 256 108 212 4 86 492 8100 20521 402 118 6656 9290 33 485 242 1543 7 22 572 22 305 2 0 4 1659 11 15697 277 134 293 286 449 19 162 136 4276 4993 2837 1962 11776 22 20 1635 1973 246 1061 1097 204 1011 59 356 169 75 377 473 120 50 30 567 51 727 216 35 329 59

0.01 26.00 0.23 0.16 0.00 13.53 0.00 3.08 0.63 1.40 0.00 0.68 0.55 0.00 0.11 0.10 0.13 0.09 0.12 0.12 0.13 0.07 0.09 0.03 0.05 0.06 0.08 0.00 0.00 4.25 2.77 2.15 0.00 0.23 0.27 0.34 2.80 6.19 0.23 0.29 0.35 0.00 0.07 1.68 0.71 0.57 25.98 0.00 0.18 0.00 59.14 76.38 0.48 0.00 0.10 0.14 9.81 7.40 0.00 3.33 2.58 0.08 0.05 0.06 0.38 0.48 0.12 0.09 0.04 0.21 0.16 0.08 0.11 0.95 1.23 0.52 0.15 0.74 0.58 0.05 0.03 0.01 0.07 0.05 0.46 0.34 0.02 30.52 0.00

0.01 27.01 0.23 0.17 0.00 14.10 0.00 3.20 0.63 1.56 0.21 0.68 0.57 0.45 0.12 0.11 0.16 0.12 0.15 0.14 0.13 0.07 0.10 0.04 0.05 0.06 0.08 0.06 0.09 4.30 2.84 2.21 0.00 0.26 0.27 0.34 2.90 6.99 0.25 0.33 0.42 0.07 0.09 2.04 0.71 0.57 25.98 19.97 0.19 0.08 60.48 77.58 0.48 0.00 0.11 0.15 10.84 8.52 0.25 3.52 2.73 0.09 0.07 0.09 0.38 0.48 0.13 0.10 0.04 0.25 0.19 0.11 0.13 1.02 1.30 0.56 0.16 0.76 0.59 0.05 0.04 0.01 0.08 0.06 0.50 0.39 0.03 31.33 0.13

unch + unch + + + + + + + + + + + unch + unch unch + + unch unch + + + + + + + + + + + + + unch + + + unch + + + + + unch + + + unch + + + + -

(100s)

High Low

(100s) Stock

Week

Exc Volume

High

Low

Noront Res Norra Metals Norse Gold Norseman Silv Norsemont Cap* Norsemont Cap Nortec Mnls* Nortec Mnls North Am Nickl North Am Nickl* North Arrow Mn* North Arrow Mn North Bay Res * North Peak Res* North Peak Res Northcliff Res Northern Light Northern Uran Northisle C&G * Northisle C&G Northstar Gold Northstar Gold* Norvista Cap NorZinc* NorZinc Nouveau Monde* Nouveau Monde NovaGold Res NovaGold Res* Novo Res* Novo Res NQ Minerals Pl* NRG Metals* Nrthn Graphite* Nrthn Graphite Nrthn Lion Nrthn Lion* Nrthn Mnrls &E* Nrthn Shield Nrthn Superior Nrthn Superior* Nrthn Vertex* Nrthn Vertex NSGold NSS Res Inc Nthn Dynasty Nthn Dynasty* Nthrn Sphere* Nubian Res Nuinsco Res* Nuinsco Res NuLegacy Gold* NuLegacy Gold Nutrien* Nutrien NV Gold* NV Gold O.T. Mining* O3 Mining* O3 Mining Oakley Vent OceanaGold OceanaGold* Oceanic Iron O Oceanic Iron O* Oceanus Res Oceanus Res* Odyssey Res Olivut Res* Olivut Res Omai Gold Omineca Mining Omineca Mining* One World Lith One World Lith* Opawica Expl Opawica Expl* Ophir Gold Ophir Gold* Optimum Vent Opus One Gold Opus One Gold* Orbite Tech* Orca Gold* Orca Gold Orea Mining* Orea Mining Orefinders Res Orestone Mng Orex Mnrls* Orex Mnrls Orezone Gold* Orezone Gold Orford Mining OrganiMax* OrganiMax Origen Res Origin Gold Original Sixtn* Orla Mining Oro X Mining* Oro X Mining Oroco Res Oroco Res* Orocobre Orosur Mng Orsu Metals Orsu Metals* Orvana Mnrls Orvana Mnrls* Osino Res Osisko Gold Osisko Gold* Osisko Metals Osisko Metals* Osisko Mng Inc Otso Gold* Otso Gold Outback Gold Outcrop Gold* Outcrop Gold OZ Minerals*

V 1497 V 797 V 63 V 755 O 385 C 614 O 161 V 543 V 881 O 996 O 70 V 272 O 2450089 O 17 V 67 T 118 C 7190 V 412 O 73 V 654 C 244 O 27 V 285 O 1560 T 1527 O 6928 V 7880 T 1098 X 4239 O 713 V 1128 O 68 O 133 O 225 V 40 V 2 O 2 O 54 V 702 V 732 O 891 O 650 V 534 V 6 C 10942 T 1578 X 33732 O 0 V 452 O 4 C 1131 O 3773 V 4209 N 7380 T 4257 O 295 V 282 O 37 O 34 V 94 C 13 T 5247 O 12 V 134 O 0 V 555 O 154 V 41 O 35 V 148 V 621 V 353 O 298 C 198 O 55 V 146 O 0 V 138 O 30 V 20 V 1860 O 0 O 527 O 510 V 1264 O 950 T 2242 V 433 V 1354 O 354 V 789 O 244 V 436 V 499 O 0 V 77 C 157 V 244 O 20 T 3098 O 18 V 51 V 548 O 527 T 270 T 615 V 0 O 0 T 63 O 77 V 278 T 1500 N 2300 V 193 O 6 T 2375 O 266 V 399 C 10 O 697 V 724 O 2

0.19 0.12 0.09 0.45 0.82 1.05 0.02 0.03 0.21 0.16 0.05 0.07 0.00 0.46 0.58 0.05 0.06 0.03 0.21 0.28 0.30 0.24 0.17 0.06 0.07 0.78 1.00 13.72 10.68 1.89 2.45 0.06 0.29 0.20 0.25 0.38 0.35 0.05 0.08 1.50 1.16 0.45 0.55 0.29 0.10 0.44 0.34 0.00 0.53 0.01 0.01 0.10 0.13 47.82 61.39 0.24 0.28 0.05 2.38 3.05 0.17 2.54 1.81 0.23 0.00 0.52 0.41 0.04 0.05 0.07 0.23 0.40 0.31 0.07 0.06 0.20 0.00 0.28 0.22 0.33 0.06 0.00 0.00 0.62 0.81 0.09 0.11 0.15 0.12 0.15 0.18 0.78 1.00 0.16 0.05 0.07 0.18 0.22 0.19 6.87 0.50 0.63 1.79 1.42 4.25 0.40 0.00 0.00 0.31 0.24 1.22 15.97 12.45 0.47 0.34 3.86 0.04 0.05 1.46 0.54 0.69 14.50

0.17 0.08 0.00 0.25 0.70 0.90 0.02 0.02 0.17 0.13 0.00 0.06 0.00 0.41 0.52 0.00 0.05 0.02 0.18 0.24 0.27 0.22 0.15 0.05 0.07 0.51 0.65 12.68 9.88 1.71 2.21 0.04 0.19 0.18 0.00 0.00 0.35 0.05 0.07 1.12 0.88 0.39 0.50 0.00 0.05 0.41 0.32 0.00 0.42 0.01 0.01 0.08 0.11 46.25 59.45 0.18 0.24 0.04 2.25 2.86 0.14 2.29 1.60 0.20 0.00 0.48 0.37 0.04 0.04 0.06 0.21 0.36 0.28 0.07 0.05 0.19 0.00 0.26 0.21 0.33 0.05 0.00 0.00 0.52 0.67 0.07 0.10 0.13 0.09 0.11 0.14 0.72 0.93 0.13 0.00 0.00 0.16 0.00 0.00 5.99 0.00 0.58 1.63 1.27 4.00 0.35 0.00 0.00 0.28 0.22 1.17 15.42 12.00 0.44 0.34 3.55 0.03 0.04 1.40 0.43 0.56 0.00

P2 Gold* P2 Gold Pac Bay Mnrls Pac Booker Min Pac Booker Min* Pac Cascade Pac Imperial Pac Ridge Expl Pac Ridge Expl* Pac Wildcat* Pacific Empire Pacific Rim Pacific Rim* Pacific Silk* Pacific Silk Pacton Gold Paladin Energy* Palamina Corp Palamina Corp* Palayan Res* Paleo Resource Paleo Resource* Palladium One Palladium One* Pampa Metals Pan Am Silver Pan Am Silver* Pan Andean Min* Pan Global Res* Pan Global Res Pancontinental* Pancontinental Panex Res* Pangolin Dia Panoro Mnrls Panoro Mnrls* PanTerra Gold* Pantheon Vent Para Resources Paramount Gold* Paringa Res* Pasinex Res Pasofino Gold* Pasofino Gold Patriot Gold Patriot Gold* Peabody Enrgy* Pegasus Res Pegasus Res* Pelangio Expl*

O V V V O V V V O O V C O O V V O V O O V O V O C T D O O V O V O V V O O V V X O C O V C O N V O O

0.25 0.35 0.00 2.00 1.55 0.16 0.04 0.06 0.04 0.00 0.06 0.30 0.29 0.02 0.03 0.98 0.21 0.18 0.14 1.09 0.01 0.01 0.27 0.21 0.45 44.23 34.47 0.00 0.43 0.55 0.08 0.11 0.00 0.03 0.12 0.09 0.00 0.11 0.31 1.12 0.01 0.04 0.15 0.19 0.18 0.14 2.08 0.06 0.00 0.12

Last

12-month Change

High Low

0.17 0.10 + 0.08 unch 0.45 + 0.82 + 1.04 + 0.02 unch 0.02 unch 0.17 0.13 0.05 unch 0.07 + 0.00 + 0.42 + 0.54 + 0.05 0.06 + 0.02 unch 0.18 0.28 + 0.28 0.22 unch 0.16 + 0.05 0.07 unch 0.78 + 0.99 + 12.83 10.00 1.87 + 2.38 + 0.06 + 0.27 + 0.20 + 0.25 + 0.38 + 0.35 unch 0.05 unch 0.08 unch 1.50 + 1.16 + 0.42 + 0.52 0.24 0.06 0.43 + 0.34 + 0.00 unch 0.49 + 0.01 unch 0.01 + 0.09 0.12 47.30 60.65 0.19 0.25 0.05 2.33 2.98 0.17 + 2.38 1.80 + 0.20 0.11 unch 0.51 unch 0.41 + 0.04 unch 0.04 0.07 + 0.21 unch 0.40 + 0.30 + 0.07 unch 0.06 0.19 + 0.11 unch 0.28 unch 0.22 + 0.33 unch 0.06 + 0.06 unch 0.00 0.58 + 0.74 + 0.08 0.10 0.15 + 0.11 + 0.11 0.15 0.78 + 1.00 + 0.16 + 0.05 0.07 + 0.18 + 0.21 0.12 6.35 0.50 0.63 + 1.78 + 1.39 unch 4.24 + 0.39 + 0.31 unch 0.24 unch 0.31 0.22 1.20 15.85 + 12.36 + 0.45 + 0.34 3.70 unch 0.03 0.05 unch 1.40 0.52 + 0.66 + 14.16 -

0.02 0.02 0.00 0.18 0.07 0.07 0.00 0.00 0.03 0.02 0.00 0.01 0.00 0.00 0.01 0.01 0.01 0.00 0.02 0.04 0.02 0.00 0.02 0.00 0.00 0.23 0.28 0.65 0.42 0.10 0.10 0.02 0.05 0.01 0.02 0.01 0.00 0.00 0.00 0.33 0.24 0.01 0.01 0.05 0.03 0.02 0.00 0.00 0.08 0.00 0.01 0.01 0.01 0.49 0.49 0.01 0.01 0.02 0.05 0.02 0.03 0.01 0.20 0.01 0.00 0.00 0.02 0.00 0.01 0.01 0.00 0.03 0.01 0.00 0.00 0.02 0.00 0.00 0.01 0.00 0.01 0.00 0.00 0.04 0.06 0.01 0.02 0.01 0.02 0.02 0.03 0.05 0.07 0.01 0.01 0.01 0.03 0.01 0.07 0.12 0.00 0.03 0.02 0.00 0.04 0.05 0.00 0.00 0.01 0.01 0.01 0.40 0.34 0.01 0.00 0.00 0.01 0.00 0.05 0.08 0.10 0.35

0.23 0.21 0.17 0.37 2.21 2.79 0.12 0.05 0.30 0.33 0.06 0.08 0.00 3.00 1.38 0.07 0.11 0.03 0.22 0.30 0.55 0.38 0.19 0.09 0.12 0.78 1.00 18.00 12.85 3.30 4.16 0.13 0.37 0.28 0.35 0.45 0.35 0.25 0.18 1.45 1.12 0.57 0.72 0.69 0.12 3.28 2.49 0.05 0.69 0.03 0.02 0.19 0.24 50.81 64.98 0.38 0.48 0.10 3.88 3.68 0.25 4.01 2.86 0.24 0.18 0.70 0.53 0.06 0.07 0.11 0.30 0.75 0.55 0.15 0.11 0.24 0.11 0.28 0.22 0.50 0.12 0.08 0.16 0.62 0.81 0.19 0.25 0.26 0.28 0.24 0.31 1.01 1.27 0.24 0.13 0.14 0.27 0.37 0.25 7.51 0.68 0.90 2.12 1.65 4.29 0.70 0.45 0.33 0.32 0.26 1.65 17.50 13.31 0.57 0.42 4.85 0.08 0.11 1.55 0.66 0.88 14.50

0.12 0.02 0.02 0.04 0.20 0.25 0.00 0.01 0.06 0.05 0.02 0.03 0.00 0.16 0.30 0.02 0.02 0.01 0.01 0.02 0.19 0.20 0.04 0.01 0.02 0.09 0.13 6.40 4.65 1.00 1.41 0.04 0.04 0.05 0.07 0.11 0.14 0.02 0.05 0.07 0.05 0.11 0.15 0.06 0.03 0.39 0.31 0.00 0.07 0.00 0.01 0.02 0.03 23.85 34.80 0.05 0.07 0.02 0.64 1.06 0.12 1.16 0.00 0.07 0.05 0.04 0.03 0.02 0.02 0.03 0.15 0.05 0.03 0.03 0.02 0.05 0.03 0.08 0.07 0.15 0.02 0.06 0.00 0.15 0.20 0.06 0.09 0.04 0.03 0.03 0.04 0.14 0.22 0.02 0.03 0.04 0.12 0.06 0.02 1.48 0.17 0.23 0.20 0.05 1.60 0.03 0.10 0.09 0.11 0.09 0.43 6.35 4.65 0.24 0.17 1.67 0.03 0.04 0.11 0.07 0.09 3.48

0.23 0.25 + 0.31 0.34 + 0.00 0.13 unch 1.95 1.95 unch 1.50 1.50 unch 0.13 0.14 0.03 0.03 unch 0.05 0.06 + 0.00 0.04 0.00 0.00 0.06 0.06 unch 0.00 0.30 0.23 0.28 + 0.01 0.01 0.00 0.02 unch 0.91 0.92 unch 0.18 0.19 0.17 0.17 0.13 0.14 + 0.45 0.55 0.01 0.01 unch 0.01 0.01 0.24 0.24 0.18 0.19 0.37 0.45 + 41.40 42.22 32.06 32.98 0.00 0.00 unch 0.39 0.42 + 0.48 0.54 + 0.00 0.07 + 0.00 0.10 + 0.00 0.00 0.02 0.03 unch 0.11 0.12 0.08 0.08 0.00 0.01 unch 0.07 0.11 + 0.29 0.29 1.04 1.09 0.01 0.01 unch 0.04 0.04 + 0.15 0.15 + 0.18 0.19 0.15 0.18 + 0.12 0.13 + 1.71 1.72 0.04 0.06 + 0.00 0.03 unch 0.00 0.12 -

0.02 0.02 0.00 0.00 0.00 0.02 0.00 0.01 0.02 0.00 0.00 0.01 0.02 0.01 0.00 0.00 0.01 0.01 0.01 0.40 0.00 0.00 0.04 0.02 0.02 0.63 0.50 0.00 0.03 0.04 0.01 0.02 0.00 0.00 0.01 0.00 0.00 0.04 0.01 0.01 0.00 0.01 0.00 0.01 0.01 0.01 0.38 0.01 0.00 0.01

0.59 0.90 0.19 2.60 2.07 0.22 0.08 0.09 0.07 0.01 0.21 0.63 0.53 0.03 0.04 1.81 0.21 0.34 0.26 1.82 0.04 0.04 0.29 0.49 0.70 53.30 40.11 0.00 0.56 0.72 0.20 0.13 0.00 0.05 0.17 0.13 0.01 0.09 1.40 1.48 0.03 0.04 0.31 0.42 0.21 0.14 10.61 0.07 0.05 0.20

0.10 0.05 0.05 1.12 0.84 0.03 0.01 0.03 0.02 0.00 0.03 0.09 0.06 0.00 0.01 0.35 0.03 0.09 0.06 0.25 0.01 0.00 0.05 0.03 0.37 14.22 10.61 0.00 0.05 0.06 0.01 0.02 0.00 0.02 0.07 0.04 0.00 0.01 0.10 0.47 0.00 0.01 0.01 0.04 0.07 0.02 0.80 0.01 0.00 0.08

P-Q 15 418 0 3 18 118 269 594 150 67 225 78 5 0 32 157 4306 7 25 3333 2351 3288 2516 389 655 1395 7011 12 68 462 7 339 80 696 357 242 0 1282 168 246 800 146 17 254 351 441 9717 928 0 42

Exc Volume

Week Low

193 104 40 1 295 651 471 2 44 11 4 11 0 184 67 360 35 0 171 83 196 252 416 1 1920 494 9164 909 185 61 1310 29 7788 1 677 117 48 0 114 4911 1921 685 99 686 364 6245 2630 1017 83 436 55 315 1519 288 153 4249 480 424 48 3 296 26 4 86 255 41 360 78 7044 151 541 8 148 93 1568 3569 1577 4 272 1164 220 87 611 52 90 677 313 2568 195 112 3439 644 39 0 169 288 275 174

0.15 0.13 0.10 0.12 1.28 0.05 0.02 0.03 0.05 0.09 0.06 0.07 0.53 0.35 0.19 0.25 0.36 102.00 0.15 0.04 0.11 0.36 0.29 0.05 0.09 6.93 5.40 0.04 0.13 0.11 3.99 5.11 0.00 0.00 0.10 0.08 0.02 0.00 0.06 0.31 0.40 0.04 0.03 0.20 0.26 3.33 11.69 15.04 0.08 0.07 1.56 1.99 0.05 0.46 0.08 1.42 1.83 0.10 0.30 5.99 1.50 0.23 0.14 0.10 0.13 0.13 0.87 0.65 0.03 0.13 0.17 0.02 0.63 0.82 2.22 2.82 0.08 0.31 0.39 0.27 0.21 0.19 0.26 0.16 0.12 0.18 0.23 0.18 0.13 0.11 0.14 0.04 0.18 0.00 0.07 0.06 0.01 0.56

0.14 0.15 + 0.11 0.13 unch 0.08 0.10 + 0.00 0.12 unch 1.18 1.22 0.04 0.05 0.01 0.01 0.03 0.03 + 0.04 0.04 0.08 0.08 0.05 0.05 0.05 0.06 0.53 0.53 + 0.30 0.30 0.18 0.18 0.23 0.24 + 0.35 0.35 unch 0.00 100.00 0.00 0.15 unch 0.04 0.04 + 0.10 0.11 + 0.32 0.36 + 0.25 0.29 + 0.05 0.05 unch 0.07 0.08 + 6.22 6.49 + 4.81 5.02 + 0.03 0.03 unch 0.12 0.12 0.00 0.11 3.60 3.82 + 4.65 4.92 + 0.00 0.00 unch 0.00 0.00 unch 0.09 0.10 unch 0.08 0.08 0.02 0.02 + 0.00 0.05 unch 0.00 0.06 unch 0.18 0.29 + 0.25 0.38 + 0.04 0.04 unch 0.02 0.02 0.17 0.19 + 0.22 0.24 3.01 3.05 10.93 11.36 14.13 14.55 0.05 0.05 0.07 0.07 unch 0.00 1.43 1.76 1.90 0.04 0.05 + 0.41 0.46 + 0.07 0.08 unch 1.30 1.35 1.62 1.76 0.09 0.09 0.25 0.30 unch 0.00 5.99 1.25 1.44 + 0.18 0.23 unch 0.00 0.14 0.10 0.10 unch 0.00 0.12 unch 0.09 0.13 + 0.78 0.85 + 0.60 0.65 + 0.02 0.02 0.13 0.13 + 0.16 0.17 0.02 0.02 0.53 0.58 0.70 0.76 + 2.01 2.12 2.60 2.74 + 0.07 0.08 + 0.25 0.25 0.35 0.35 0.22 0.27 + 0.00 0.21 + 0.17 0.19 + 0.22 0.24 + 0.13 0.16 unch 0.12 0.12 unch 0.15 0.17 0.20 0.23 unch 0.16 0.16 0.13 0.13 + 0.09 0.10 0.12 0.13 0.00 0.03 0.15 0.15 0.00 0.11 unch 0.07 0.07 unch 0.05 0.05 0.01 0.01 + 0.52 0.54 -

V 2 O 0 V 512 V 292 C 30 C 158 O 34 V 71 O 1 O 1 O 1875 V 458 C 12 O 58 V 28 V 722 O 4 V 205 V 20 O 51 C 2217 V 587 O 37 O 78 V 848 V 55 O 116 V 190 V 981 O 529 V 30 V 110 O 4 V 1024 O 435 V 1809 V 20 O 547344 V 294 O 16 O 6 N 5920 O 0 O 661 V 680 O 74 C 33 V 106 O 187 O 11 V 236 V 138 O 1 V 4 O 2 V 181 O 331 C 599 C 40 O 69 V 648 V 154 V 35 O 1 V 2210 O 2 V 230 O 8214 O 320 V 1322 V 485 O 108 O 350 V 1653 V 132 O 105 V 172 T 1178 O 119 D 1352 O 392

0.15 0.00 0.35 0.33 0.06 0.19 3.00 0.13 0.08 0.00 1.15 0.05 0.06 0.00 0.11 0.05 3.01 1.12 0.20 0.05 0.06 0.06 0.00 0.09 0.12 0.19 0.65 0.83 1.13 0.93 0.80 0.05 0.04 0.60 0.08 0.11 0.62 0.00 0.09 0.08 75.50 77.05 88.01 0.70 0.91 0.67 0.86 0.35 0.27 0.22 0.30 0.44 0.06 0.08 1.03 1.49 0.06 0.08 0.03 0.12 0.18 0.12 0.09 0.06 0.57 0.06 0.08 1.45 0.37 0.45 0.05 0.05 0.34 0.38 0.18 0.09 0.11 1.78 1.39 113.43 0.00

Pelangio Expl V Peloton Mnrls C Peloton Mnrls* O PepinNini Lith* O Perseus Mng T Pershimex Res V Pershing Res* O Peruvian Metal* O Peruvian Metal V Philex Mng* O Philippine Mtl* O Philippine Mtl V Phoenix Global* O Phoenix Gold V Pine Cliff En* O Pine Cliff En T Pivit Explor C PJSC Polyus Gd* O PJX Res V Plata Latina V Plate Res V Plateau Energy V Plateau Energy* O Platinex Inc* O Platinex Inc C Platinum Gp Mt T Platinum Gp Mt* X Plato Gold V Playfair Mng V Playfair Mng* O PolyMet Mng* X PolyMet Mng T Portage Res* O Portex Mnrls* O Portofino Res V Portofino Res* O Potash Ridge* O Power Group* O Power Group V Power Metals* O Power Metals V PPX Mining V PPX Mining* O Precipitate Gl* O Precipitate Gl V Premier Gold M T Pretium Res* N Pretium Res T Prime Meridian V Prime Meridia* O Prime Mining* O Prime Mining V Prism Res V Prismo Metals C ProAm Expl V Probe Metals* O Probe Metals V Prog Planet V Project One C Promithian Gl * O Prosper Gold V Prospero Silvr V Prospero Silvr* O Provenance Gld C Providence V Providence Gld* O Pucara Gold V Pucara Gold* O PUF Vent Inc * O Puma Expl* O Puma Expl V Pure Alumina* O Pure Energy* O Pure Energy V Pure Gold Mg* O Pure Gold Mg V Purepoint Uran V Q-Gold Res* O Q-Gold Res V QC Copper V QC Copper* O QC Precious * O QC Precious V QcX Gold V QcX Gold* O QMC Quantum Ml* O QMC Quantum Ml V QMX Gold V QMX Gold* O Quadro Res* O Quadro Res V Quantum Cobalt C Quartz Mtn Res V Quartz Mtn Res* O Quaterra Res V Quaterra Res* O Quest Rare Mnl* O Questex Gold V

Last

12-month

High

Change

0.00 0.00 0.33 0.29 0.06 0.18 2.09 0.11 0.00 0.00 0.95 0.04 0.06 0.00 0.10 0.04 2.78 0.99 0.18 0.04 0.05 0.05 0.00 0.09 0.11 0.00 0.60 0.78 1.00 0.77 0.75 0.04 0.04 0.48 0.05 0.07 0.00 0.00 0.08 0.05 73.35 74.20 0.00 0.64 0.82 0.57 0.73 0.30 0.21 0.21 0.26 0.41 0.00 0.08 0.00 1.10 0.05 0.07 0.03 0.00 0.13 0.12 0.07 0.06 0.36 0.06 0.08 0.88 0.27 0.34 0.05 0.04 0.27 0.36 0.17 0.08 0.10 1.68 1.30 107.25 0.00

0.15 0.12 0.34 0.30 0.06 0.19 2.33 0.11 0.08 0.00 1.08 0.05 0.06 0.00 0.11 0.04 2.78 1.03 0.18 0.04 0.05 0.05 0.00 0.09 0.12 0.19 0.61 0.78 1.04 0.86 0.75 0.05 0.04 0.60 0.08 0.09 0.60 0.00 0.09 0.08 73.35 75.94 84.96 0.70 0.89 0.63 0.76 0.33 0.25 0.22 0.26 0.44 0.06 0.08 0.90 1.49 0.05 0.07 0.03 0.12 0.18 0.12 0.08 0.06 0.56 0.06 0.08 0.98 0.35 0.45 0.05 0.04 0.29 0.36 0.18 0.08 0.10 1.70 1.31 108.65 0.00

unch unch + + + + + + unch unch + unch unch + + + + unch unch unch + + + + + + + + + + + unch unch + + unch unch + + + + + unch + + unch + unch + + unch unch

W . N OR TH ER N M I N ER . COM

(100s)

High Low

Stock

0.01 0.00 0.00 0.00 0.04 0.01 0.00 0.00 0.01 0.02 0.01 0.01 0.02 0.02 0.01 0.01 0.00 5.00 0.00 0.01 0.01 0.02 0.02 0.00 0.01 0.16 0.05 0.00 0.01 0.00 0.06 0.08 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.09 0.12 0.00 0.01 0.00 0.01 0.07 0.03 0.10 0.03 0.00 0.11 0.08 0.01 0.06 0.00 0.04 0.02 0.01 0.00 0.60 0.24 0.00 0.02 0.00 0.00 0.03 0.03 0.01 0.00 0.00 0.01 0.00 0.04 0.03 0.02 0.15 0.01 0.06 0.04 0.05 0.07 0.01 0.02 0.00 0.00 0.01 0.00 0.01 0.00 0.02 0.01 0.01 0.04 0.00 0.00 0.01 0.00 0.01

0.27 0.15 0.12 0.15 1.52 0.10 0.02 0.06 0.08 0.10 0.08 0.12 0.70 0.39 0.24 0.31 0.42 128.00 0.18 0.05 0.14 0.37 0.28 0.08 0.13 8.00 6.27 0.05 0.21 0.15 9.70 13.00 9.00 0.00 0.26 0.25 0.05 0.07 0.10 0.40 0.54 0.10 0.06 0.30 0.41 3.33 14.55 19.13 0.10 0.07 1.67 2.17 0.06 0.88 0.15 1.53 1.95 0.11 0.60 9.78 1.50 0.49 0.32 0.16 0.17 0.17 1.50 0.69 0.10 0.19 0.27 0.30 0.87 1.41 2.42 3.08 0.09 0.39 0.65 0.24 0.18 0.29 0.39 0.50 0.30 0.21 0.27 0.38 0.27 0.25 0.33 0.06 0.24 0.18 0.15 0.11 0.04 0.90

0.11 0.04 0.03 0.00 0.45 0.02 0.00 0.02 0.03 0.02 0.00 0.02 0.06 0.01 0.04 0.05 0.12 43.41 0.01 0.01 0.02 0.16 0.12 0.01 0.01 1.25 0.86 0.02 0.02 0.01 1.50 2.45 1.00 0.00 0.02 0.02 0.01 0.02 0.03 0.04 0.05 0.04 0.02 0.04 0.05 0.85 4.05 6.25 0.04 0.00 0.14 0.25 0.01 0.20 0.05 0.37 0.54 0.02 0.12 1.80 0.25 0.10 0.11 0.08 0.06 0.02 0.61 0.51 0.01 0.03 0.04 0.01 0.06 0.18 0.27 0.38 0.03 0.17 0.14 0.03 0.13 0.10 0.14 0.04 0.09 0.03 0.06 0.06 0.05 0.08 0.04 0.01 0.05 0.10 0.02 0.02 0.00 0.25

Royal Rd Mnrls Royal Std Mnrl* RT Minerals RT Minerals* RTG Mining Rugby Mng Running Fox Rs* Running Fox Rs Rupert Res Rupert Res* Rusoro Mng Rusoro Mng*

V O V O T V O V V O V O

0.02 0.00 0.03 0.03 0.00 0.01 0.07 0.01 0.01 0.00 0.12 0.01 0.00 0.00 0.01 0.01 0.22 0.00 0.03 0.01 0.01 0.01 0.00 0.01 0.01 0.02 0.02 0.01 0.01 0.02 0.00 0.00 0.00 0.12 0.01 0.01 0.05 0.00 0.01 0.01 2.33 0.67 3.05 0.04 0.05 0.05 0.11 0.03 0.02 0.00 0.01 0.01 0.00 0.00 0.03 0.28 0.00 0.00 0.00 0.02 0.05 0.01 0.01 0.00 0.21 0.00 0.00 0.43 0.06 0.09 0.00 0.01 0.00 0.00 0.01 0.00 0.00 0.02 0.05 3.19 0.00

0.28 0.20 0.40 0.38 0.14 0.35 14.50 0.18 0.10 0.12 1.25 0.12 0.10 0.03 0.15 0.07 4.38 1.74 0.35 1.00 0.09 0.16 0.00 0.13 0.17 0.29 1.13 1.45 1.74 1.35 0.98 0.08 0.06 0.74 0.27 0.30 0.62 0.00 0.10 0.08 77.15 77.64 88.01 0.78 1.03 0.83 1.10 0.54 0.40 0.26 0.36 0.56 0.08 0.10 1.03 1.32 0.10 0.14 0.05 0.19 0.25 0.23 0.19 1.00 0.57 0.07 0.10 1.93 0.50 0.60 0.08 0.06 0.50 0.55 0.36 0.15 0.13 1.92 1.48 147.64 0.00

0.08 0.00 0.09 0.11 0.05 0.07 0.22 0.04 0.04 0.00 0.33 0.03 0.04 0.00 0.04 0.02 1.80 0.47 0.07 0.01 0.03 0.05 0.00 0.04 0.05 0.05 0.24 0.33 0.50 0.44 0.04 0.03 0.02 0.29 0.04 0.07 0.11 0.00 0.01 0.02 34.85 35.35 41.50 0.11 0.14 0.31 0.30 0.10 0.06 0.07 0.09 0.11 0.02 0.03 0.35 0.37 0.03 0.04 0.02 0.04 0.06 0.07 0.02 0.00 0.02 0.03 0.02 0.11 0.14 0.04 0.03 0.02 0.08 0.12 0.08 0.00 0.03 0.56 0.05 59.78 0.00

Sabina Gd&Slvr* Sabina Gd&Slvr Sable Res Sable Res* Sailfish Rylty Saint Jean Saint Jean* Salazar Res* Salazar Res Salt Lake Pot* Sama Res Sama Res* San Gold Corp* Sanatana Res* Sanatana Res Sandfire Res Sandfire Res* Sandspring Res* Sandstorm Gold Sandstorm Gold* Santacruz Silv Sarama Res Sarissa Res* Sassy Res Sassy Res* Satori Res* Satori Res Saturn Mnrls Savannah Min Saville Res Scandium Intl* Scandium Intl Scorpio Gold Scorpio Gold * Scotch Creek Scottie Res* Scottie Res ScoZinc Mg* ScoZinc Mg Seabridge Gld Seabridge Gld* Seahawk Gold Seahawk Gold* Search Mnls Search Mnls* Searchlight* SearchlightMin* SearchlightRes Secova Mtls* Sego Res Select Sands Sentinel Res* Sentinel Res Serabi Gold Serabi Gold* Serengeti Res Sherritt Intl Shine Minerals Sibanye-Stillw* Sibanye-Stillw* Sidney Resrces* Sienna Res* Sienna Res Sierra Madre Sierra Metals Sierra Metals* Sigma Lithium Signature Res* Signature Res Silver Bear Rs* Silver Bear Rs Silver Bull Re* Silver Bull Re Silver Dollar Silver Dollar* Silver Eleph* Silver Eleph Silver Fields* Silver Grail Silver Mtn Mns Silver One Silver One* Silver Phoenix Silver Predatr* Silver Predatr Silver Range* Silver Range Silver Sands* Silver Sands Silver Spruce* Silver Spruce Silver Viper Silver Viper* Silver Wolf Silver Wolf* Silvercorp Met Silvercorp Met* SilverCrest* SilverCrest Silverore Mns* Silverstar Res* Sirios Res* Sirios Res Sitka Gold Sitka Gold* Sixty North Sixty North* Skeena Res* Skeena Res SKRR Explor Sky Gold Sky Gold* Skyharbour Res Skyharbour Res* Slam Explor* Slam Explor Slave Lake Zn Sokoman Min* Sokoman Min Solaris Res Solaris Res* Soldera Mining SolGold plc* SolGold plc Solitario Ex&R Solitario Ex&R* Solstice Gold Sonora Gld & S Sonoro Gold* Sonoro Gold South Atlantic South32* Southern Copp* Southern Emp* Southern Emp Southern Silvr Southern Silvr* Southstone Min Spanish Mtn Gd Spanish Mtn Gd* Sparton Res Sparton Res* Spearmint Res* Spearmint Res Spey Resources Sphinx Res Spruce Ridge R SRG Mining SRHI Inc SRHI Inc* SSR Mining SSR Mining* St Augustine St-Georges Eco St-Georges Eco* St. James Gold St. James Gold* Stakeholdr Gld Standard Graph* Standard Lith Standard Metal* Standard Uran* Standard Uran Stans Energy* Star Diamond* Star Diamond Star Gold*

O T V O V V O O V O V O O O V V O O T N V V O C O O V V V V O T V O C O V O V T N C O V O O O V O V V O C T O V T V O N O O V V T X V O V O T O T C O O T O V V V O C O V O V O C O V V O V O T X X T O O O V C O C O O T V V O V O O V C O V V O C O T T X V V O V V O N O V V O V V O V O O C C V V V T O T D T C O V O V O V O O V O O T O

R Rackla Metals Rackla Metals* Radisson Mng Radius Gold Rain City Raindrop Vent Rainforest Res* Rainy Mtn Royl Rainy Mtn Royl* Rambler Metals* Rare Element* Rathdowney Res Razore Rock Res Red Eagle Mng* Red Moon Res Red Pine Expl Regis Res NL* Regulus Res Remington Res Renforth Res* Renforth Res Resolve Vent Resource Cap* Reunion Gold* Reunion Gold Revelo Res Revival Gold * Revival Gold Reyna Silver Reyna Silver* Rhyolite Res Richmond Mnls Richmond Mnls* Ridgeline Min Ridgestone M’g* Ridgestone M’g Riley Gold Rimrock Gold* Rio Silver Rio Silver* Rio Tinto* Rio Tinto* Rio Tinto* Rio2 Limited* Rio2 Limited Rise Gold Corp* Rise Gold Corp Riverside Res Riverside Res* RJK Explor* RJK Explor Robex Res Rochester Res* Rochester Res Rock Tech Lith* Rock Tech Lith Rockcliff Met* Rockcliff Met Rockex Mng Rockhaven Re* Rockhaven Res Rockridge Res Rockwealth Res Rockwealth Res* Rodinia Lithm Rogue Res* Rogue Res Rojo Res* Rokmaster Res* Rokmaster Res Romios Gold Rs Romios Gold Rs* RosCan Gold* RosCan Gold Roughrider Exp Rover Metals* Rover Metals Roxgold Roxgold* Royal Gold* Royal Mines &M*

Exc Volume

Week Last

12-month

High

Low

Change

High Low

120 0 28 10 67 123 730 1057 197 7 6254 30

0.38 0.00 0.13 0.09 0.19 0.09 0.02 0.04 5.24 4.00 0.05 0.03

0.34 0.00 0.00 0.09 0.18 0.00 0.02 0.03 4.51 3.65 0.04 0.03

0.35 0.06 unch 0.11 0.09 0.18 0.09 0.02 + 0.04 4.93 3.65 + 0.04 0.03

0.01 0.00 0.02 0.01 0.01 0.02 0.01 0.01 0.17 0.51 0.01 0.00

0.48 1.24 0.29 0.20 0.22 0.19 0.07 0.08 6.20 8.70 0.08 0.06

0.13 0.03 0.02 0.01 0.04 0.05 0.01 0.01 0.53 0.43 0.03 0.02

1162 3197 3660 1602 19 573 163 32 32 35 271 60 36 20 21 361 229 175 956 6598 1114 179 15352 445 4 44 11 805 107 382 114 368 224 176 150 272 488 6 33 337 1416 23 4 538 45 7 216 698 87 3357 425 27 65 12 0 532 2784 43 0 5366 400 178 1952 7 206 1026 379 123 788 43 33 115 145 462 223 1815 2794 0 84 24 1111 841 64 11 14 8 69 511 3623 121 493 336 283 75 40 1842 4212 2719 1314 18 16 139 793 770 360 1702 82 247 1013 162 1354 274 1031 681 52 72 400 378 461 388 25 22 36 123 21 1654 399 125 196 273 102 14 3042 57 179 1948 1650 366 1176 820 56 141 573 2945 40 342 6546 137 52 62 1514 3691 3653 2349 211 77 2 28 1681 1031 35 289 2802 276 274 836 78

2.53 3.25 0.36 0.28 1.19 0.04 0.04 0.25 0.33 0.33 0.14 0.11 0.01 0.15 0.20 0.24 0.19 2.71 9.76 7.62 0.48 0.32 0.00 0.68 0.48 0.09 0.13 0.11 0.35 0.05 0.18 0.23 0.16 0.12 0.16 0.30 0.36 0.50 0.64 27.64 21.53 0.48 0.37 0.08 0.07 0.05 0.01 0.06 0.00 0.04 0.02 0.35 0.43 1.59 0.00 0.40 0.42 0.15 3.86 15.86 0.05 0.05 0.06 0.13 4.18 3.25 2.96 0.10 0.13 0.13 0.17 0.75 0.96 1.71 1.33 0.34 0.44 0.00 0.24 0.34 0.75 0.58 0.12 0.23 0.20 0.17 0.26 0.24 0.31 0.07 0.06 0.43 0.35 0.20 0.16 8.73 6.79 10.46 13.42 0.15 0.05 0.12 0.15 0.19 0.15 0.06 0.05 2.37 3.00 0.25 0.18 0.15 0.25 0.20 0.06 0.08 0.08 0.20 0.26 6.00 4.63 0.49 0.49 0.63 0.80 0.61 0.07 0.05 0.20 0.24 0.11 1.93 64.98 0.20 0.25 0.51 0.40 0.05 0.39 0.30 0.06 0.05 0.05 0.07 0.12 0.03 0.16 0.60 0.28 0.24 25.98 20.23 0.11 0.13 0.10 0.61 0.39 0.48 0.06 2.75 0.04 0.15 0.19 0.01 0.13 0.17 0.05

2.24 2.97 0.25 0.19 1.12 0.03 0.03 0.23 0.31 0.00 0.12 0.09 0.00 0.15 0.00 0.21 0.16 2.45 9.08 7.04 0.37 0.29 0.00 0.59 0.47 0.08 0.12 0.10 0.00 0.04 0.16 0.20 0.14 0.11 0.16 0.25 0.34 0.50 0.00 26.16 20.23 0.42 0.33 0.07 0.06 0.05 0.01 0.06 0.00 0.03 0.02 0.27 0.36 1.55 0.00 0.33 0.38 0.13 0.00 15.10 0.04 0.04 0.05 0.13 3.89 3.00 2.65 0.09 0.12 0.00 0.15 0.67 0.88 1.45 1.12 0.29 0.39 0.00 0.20 0.29 0.66 0.51 0.12 0.15 0.00 0.15 0.20 0.19 0.24 0.04 0.05 0.39 0.30 0.19 0.16 8.12 6.29 9.48 12.24 0.08 0.01 0.09 0.15 0.16 0.12 0.05 0.04 2.13 2.72 0.24 0.16 0.12 0.21 0.16 0.05 0.08 0.08 0.19 0.24 5.50 4.30 0.46 0.45 0.57 0.71 0.54 0.06 0.04 0.17 0.22 0.11 1.85 61.01 0.18 0.23 0.44 0.33 0.04 0.36 0.28 0.05 0.04 0.04 0.06 0.12 0.02 0.11 0.53 0.27 0.20 24.20 18.74 0.09 0.11 0.08 0.49 0.39 0.00 0.05 2.55 0.00 0.12 0.16 0.00 0.12 0.16 0.00

+ 2.52 + 3.23 + 0.33 + 0.27 1.12 0.04 unch 0.03 0.23 + 0.33 0.33 unch 0.14 unch + 0.11 + 0.01 0.15 0.18 + 0.22 + 0.17 + 2.68 9.31 7.26 0.40 0.31 0.00 0.60 0.47 0.08 unch 0.12 0.11 unch + 0.31 + 0.05 0.16 0.22 0.14 0.11 0.16 unch 0.27 0.35 + 0.50 0.55 + 26.93 + 21.03 0.48 unch 0.36 0.07 0.06 0.05 0.01 unch 0.06 0.00 unch 0.04 0.02 unch 0.29 + 0.38 1.58 unch 1.18 unch + 0.39 0.40 + 0.14 3.85 unch 15.72 0.05 + 0.05 0.05 0.13 unch 3.92 + 3.08 2.70 0.09 0.12 0.12 0.16 0.71 0.91 + 1.60 + 1.25 0.31 0.41 0.00 unch 0.20 + 0.29 + 0.75 + 0.57 0.12 unch + 0.18 0.19 0.15 + 0.26 + 0.23 + 0.31 + 0.05 0.05 unch + 0.42 + 0.34 0.20 unch 0.16 unch + 8.37 + 6.53 + 10.03 + 12.84 0.09 0.01 + 0.12 0.15 unch 0.18 0.14 0.06 0.05 + 2.32 + 2.97 + 0.25 0.18 0.14 0.23 0.18 0.06 0.08 0.08 unch 0.19 0.25 unch 5.89 4.31 0.46 0.45 0.57 + 0.75 + 0.59 0.07 unch 0.05 unch + 0.18 + 0.22 0.11 1.85 + 64.10 + 0.19 0.24 unch 0.47 0.37 0.05 0.37 0.29 0.05 unch 0.04 0.05 0.06 0.12 unch 0.02 unch + 0.15 0.57 + 0.27 0.21 unch 25.01 19.54 + 0.11 + 0.13 + 0.08 + 0.56 + 0.39 0.42 0.05 2.56 0.04 unch + 0.15 + 0.19 + 0.00 + 0.13 0.17 0.05 unch

0.26 0.34 0.09 0.08 0.06 0.00 0.00 0.01 0.02 0.00 0.00 0.02 0.00 0.00 0.02 0.01 0.01 0.14 0.10 0.03 0.04 0.01 0.00 0.02 0.02 0.00 0.01 0.00 0.23 0.01 0.02 0.02 0.03 0.02 0.00 0.00 0.01 0.07 0.01 0.63 0.43 0.00 0.02 0.01 0.00 0.01 0.00 0.01 0.00 0.01 0.00 0.00 0.01 0.00 0.00 0.05 0.02 0.02 0.00 0.21 0.00 0.00 0.01 0.00 0.03 0.01 0.05 0.01 0.02 0.00 0.01 0.05 0.04 0.09 0.07 0.02 0.03 0.00 0.03 0.02 0.05 0.02 0.00 0.00 0.01 0.01 0.06 0.03 0.05 0.00 0.00 0.04 0.04 0.00 0.00 0.12 0.09 0.44 0.55 0.02 0.04 0.00 0.00 0.01 0.01 0.01 0.00 0.03 0.07 0.01 0.01 0.00 0.03 0.02 0.01 0.01 0.00 0.01 0.00 0.08 0.34 0.03 0.05 0.09 0.08 0.05 0.00 0.00 0.02 0.01 0.02 0.06 1.35 0.02 0.00 0.04 0.03 0.01 0.01 0.01 0.00 0.01 0.00 0.01 0.00 0.00 0.04 0.03 0.01 0.00 0.50 0.40 0.02 0.02 0.00 0.08 0.01 0.08 0.00 0.04 0.00 0.02 0.04 0.00 0.00 0.01 0.00

2.53 3.19 0.36 0.28 1.57 0.04 0.04 0.31 0.36 0.57 0.29 0.22 0.02 0.32 0.40 0.40 0.31 3.51 14.22 10.63 0.48 0.51 0.00 1.24 0.92 0.14 0.20 0.17 2.00 0.06 0.19 0.24 0.22 0.17 0.25 0.46 0.53 0.54 0.90 28.48 21.86 0.71 0.51 0.08 0.07 0.10 0.07 0.14 0.04 0.07 0.04 0.66 0.85 2.06 1.55 0.40 0.44 0.25 6.24 16.59 0.08 0.09 0.11 0.20 4.36 3.43 3.00 0.12 0.15 0.18 0.24 0.78 1.40 2.00 2.51 0.45 0.59 0.00 0.35 0.53 0.87 0.67 0.25 0.34 0.40 0.21 0.28 0.37 0.49 0.48 0.12 0.85 2.21 0.24 0.16 11.62 8.91 11.12 14.88 0.27 0.09 0.20 0.26 0.30 0.22 0.11 0.08 2.51 3.34 0.50 0.23 0.20 0.27 0.21 0.11 0.16 0.13 0.22 0.28 6.09 6.70 0.50 0.56 0.72 1.16 0.88 0.13 0.10 0.28 0.34 0.18 2.00 64.46 0.25 1.45 0.69 0.53 0.14 0.77 0.59 0.08 0.06 0.10 0.10 0.20 0.03 0.16 0.83 0.81 0.78 33.69 25.32 0.15 0.16 0.11 0.67 0.53 0.60 0.19 3.03 0.08 0.17 0.38 0.01 0.41 0.53 0.19

0.51 0.71 0.04 0.03 0.45 0.02 0.00 0.08 0.12 0.18 0.11 0.08 0.00 0.00 0.08 0.18 0.13 0.58 4.64 3.32 0.07 0.09 0.00 0.43 0.47 0.02 0.02 0.07 0.20 0.02 0.03 0.06 0.05 0.03 0.07 0.07 0.11 0.19 0.28 7.37 5.25 0.15 0.09 0.03 0.02 0.01 0.01 0.02 0.00 0.03 0.01 0.25 0.10 0.75 0.82 0.15 0.07 0.05 2.53 3.50 0.01 0.02 0.03 0.04 0.89 0.45 1.30 0.02 0.02 0.05 0.05 0.46 0.24 0.22 1.05 0.06 0.10 0.00 0.05 0.08 0.15 0.11 0.10 0.05 0.04 0.05 0.07 0.15 0.10 0.01 0.02 0.18 0.00 0.04 0.07 2.12 1.50 3.28 4.50 0.00 0.00 0.07 0.08 0.05 0.03 0.03 0.02 0.37 0.50 0.16 0.05 0.04 0.08 0.06 0.00 0.01 0.04 0.04 0.06 1.38 1.97 0.30 0.13 0.19 0.22 0.13 0.02 0.02 0.06 0.07 0.02 0.89 23.43 0.16 0.19 0.06 0.05 0.04 0.05 0.03 0.02 0.01 0.01 0.01 0.02 0.01 0.03 0.22 0.14 0.02 12.12 9.00 0.01 0.03 0.02 0.05 0.05 0.16 0.05 0.39 0.02 0.12 0.12 0.00 0.11 0.15 0.02

G LOBAL M I N I N G

N EW S

(100s) Stock

TH E N OR TH ER N

Week

Exc Volume

Low

0.22 0.22 + 0.29 0.30 + 1.75 1.81 unch 1.36 1.45 + 0.00 0.05 unch 0.04 0.04 0.04 0.04 0.08 0.09 + 2.22 2.55 + 1.73 1.97 + 0.44 0.60 + 0.35 0.47 + 0.27 0.29 + 0.17 0.17 0.00 0.00 0.22 0.22 0.00 0.21 unch 0.30 0.30 + 0.00 0.00 + 0.38 0.41 unch 0.29 0.32 0.01 0.01 unch 0.00 0.50 + 0.00 0.41 + 0.18 0.18 0.23 0.23 0.00 0.07 unch 0.08 0.08 unch 0.53 0.61 0.38 0.41 + 0.31 0.34 unch 0.00 0.06 0.03 0.03 unch 0.85 0.87 + 1.10 1.11 + 0.14 0.17 + 0.49 0.58 + 0.26 0.32 + 0.19 0.21 + 20.94 21.89 16.29 17.10 0.46 0.47 0.60 0.63 + 0.52 0.58 0.43 0.43 0.11 0.12 0.10 0.10 unch 0.61 0.62 0.50 0.50 0.06 0.07 unch 0.00 0.00 0.65 0.69 +

Starcore Intl* Starcore Intl Starr Peak Exp Starr Peak Exp* Steele Oceanic* Stellar Africa* Stellar Africa Stelmine Can Steppe Gold Steppe Gold* Sterling Metal Sterling Metal* Stevens Gold Stone Gold Stornoway Diam* Straightup Res Stratabd Mnr* Stratabd Mnr Strateco Res* Strategic Metl Strategic Metl* Strategic Min* Strategic Res Strategic Res* Strikepoint Gd* Strikepoint Gd Strongbow Expl* Strongbow Expl Stroud Res Stuhini Explor Stuhini Explor* Sulliden Mng Sulliden Mng* Summa Silver* Summa Silver Sun Metals Sun Peak Metal Sun Summit Sun Summit* Suncor Energy Suncor Energy* Superior Gold* Superior Gold Superior Mng Superior Mng* Supernova Met Supernova Met* Surge Copper Surge Copper * Surge Explor Sutter Gold* Syrah Res*

O T V O O O V V T O V O C V O C O V O V O O V O O V O V V V O T O O C V V V O T N O V V O V O V O V O O

59 208 211 100 1 30 75 328 461 282 528 171 18 324 3799 127 2 215 122 339 275 300 31 0 1143 1294 76 583 200 97 34 235 5 385 864 1654 846 1116 18 26412 22573 35 461 194 36 38 308 528 30 409 156 223

0.24 0.31 1.96 1.52 0.51 0.04 0.05 0.09 2.60 2.31 0.65 0.48 0.29 0.18 0.00 0.25 0.00 0.32 0.00 0.42 0.32 0.01 0.50 0.41 0.20 0.26 0.07 0.09 0.74 0.41 0.34 0.07 0.03 0.97 1.25 0.18 0.59 0.33 0.21 22.22 17.29 0.49 0.63 0.63 0.43 0.14 0.11 0.76 0.60 0.07 0.00 0.76

Taiga Gold Taiga Gold* Tajiri Res Talisker Res Talisker Res* Talmora Diamd Talon Metals Tamerlane Vent* Tanqueray Expl Tantalex Res Tanzanian Gold Tanzanian Gold* Tarachi Gold* Tarachi Gold Taranis Res Taranis Res* Tarku Res Tartisan Nick* Tartisan Nick Taseko Mines* Taseko Mines Tearlach Res Teck Res Teck Res* Teck Res Tectonic Metal Tectonic Metal* Telson Res Telson Res * Temas Res* Temas Res Tembo Gold Tembo Gold* Tempus Res Teranga Gold* Teranga Gold Teras Res Teras Res* Terrax Mnrls Terrax Mnrls* Terreno Res

C O V T O C T O V C T X O C V O V O C X T V T N T V O V O O C V O V O T V O V O V

161 50 381 1360 95 500 4116 1 584 1886 102 1508 80 192 46 73 1196 92 358 7254 1438 9 5798 8473 7 2057 224 153 8 84 403 180 43 41 62 1927 83 14 256 127 75

0.24 0.18 0.15 0.37 0.29 0.02 0.51 0.00 21.79 0.03 0.79 0.63 0.29 0.35 0.14 0.10 0.15 0.27 0.35 1.35 1.73 0.11 23.16 18.03 27.05 0.12 0.09 0.19 0.15 0.67 0.84 0.13 0.10 0.30 11.69 15.06 0.08 0.06 0.34 0.28 0.04

Last

High Low

Stock

0.00 0.02 0.00 0.04 0.00 0.00 0.01 0.01 0.40 0.26 0.17 0.12 0.02 0.02 0.00 0.03 0.00 0.02 0.00 0.00 0.01 0.00 0.04 0.27 0.01 0.02 0.00 0.00 0.11 0.04 0.00 0.01 0.00 0.00 0.03 0.03 0.09 0.06 0.02 0.24 0.24 0.00 0.03 0.04 0.06 0.02 0.00 0.16 0.10 0.00 0.00 0.00

0.26 0.35 2.94 2.24 0.51 0.05 0.07 0.12 3.14 2.33 0.75 0.55 0.32 0.28 0.02 0.35 0.26 0.38 0.01 0.80 0.60 0.01 0.50 0.31 0.21 0.27 0.10 0.15 0.83 0.94 0.72 0.10 0.05 2.20 3.50 0.25 1.34 0.40 0.28 45.12 34.56 1.15 1.53 0.89 0.58 0.32 0.24 0.85 0.65 0.30 0.05 0.93

0.00 0.07 0.28 0.25 0.05 0.01 0.02 0.04 0.63 1.42 0.05 0.00 0.24 0.02 0.00 0.10 0.12 0.05 0.00 0.25 0.18 0.00 0.18 0.14 0.01 0.02 0.01 0.03 0.15 0.12 0.29 0.03 0.03 0.60 0.09 0.06 0.49 0.10 0.08 14.02 9.61 0.26 0.33 0.11 0.22 0.02 0.03 0.02 0.03 0.05 0.00 0.09

0.03 0.01 0.02 0.01 0.01 0.01 0.16 0.00 7.45 0.00 0.04 0.04 0.04 0.03 0.02 0.00 0.01 0.01 0.01 0.01 0.02 0.00 0.40 0.35 0.00 0.02 0.01 0.04 0.02 0.02 0.04 0.01 0.00 0.01 0.42 0.48 0.00 0.00 0.01 0.01 0.01

0.31 0.22 0.23 0.44 0.47 0.05 0.49 0.00 19.09 0.05 1.49 1.09 0.39 1.00 0.16 0.12 0.22 0.44 0.35 1.39 1.77 0.20 24.08 18.95 30.00 0.34 0.25 0.33 0.23 0.70 0.90 0.30 0.18 0.30 12.82 16.80 0.14 0.08 0.55 0.41 0.06

0.07 0.05 0.03 0.29 0.16 0.01 0.08 0.00 2.55 0.01 0.55 0.36 0.23 0.04 0.04 0.03 0.04 0.03 0.05 0.20 0.28 0.10 8.15 5.60 9.00 0.09 0.07 0.04 0.04 0.30 0.10 0.03 0.02 0.25 2.84 3.86 0.04 0.02 0.16 0.11 0.01

Tesoro Mnrls* Tesoro Mnrls Teuton Res Teuton Res* Texas Mineral* Themac Res Thesis Gold Theta Gold* Thor Expl Thunder Mtn Gd* Thunder Mtn Gd Thunderstruck Thunderstruck* Tiger Intl Timberline Res Timberline Res* Tinka Res* Tinka Res Tintina Mines Tisdale Res Titan Mining* Titan Mining Titanium Corp TMAC Resource* TMAC Resources TNR Gold Tocvan Venture TomaGold Tombill Mines Tombstone Expl* Tonogold Res* Tonopah Div Mg* Torex Gold* Torex Gold Torq Resources Torq Resources* Tower Res* Tower Res Transatlantic* Transatlantic Transition Met Transition Met* Treasury Metal* Treasury Metal Trecora Res* Tres-Or Res Tres-Or Res* Trevali Mng* Trevali Mng Tri Origin Exp* Tri Origin Exp Trident Gold Trifecta Gold* Trifecta Gold Trilogy Mtls Trilogy Mtls* TriMetals Mng* Trinity Res* Trinity Valley Trinity Valley* TriStar Gold TriStar Gold* Triumph Gold Triumph Gold* Troilus Gold* Troilus Gold Troubadour Res TRU Precious* TRU Precious True North Gem* True North Gem Tsodilo Res Tudor Gold * Tudor Gold Turmalina Met Turmalina Met* Turquoise HIl* Turquoise HIl TVI Pacific TVI Pacific* Tyhee Gold* Tymbal Res Typhoon Expl

O V V O O V V O V O V V O V V O O V V V O T V O T V C V V O O O O T V O O V O V V O O T N V O O T O V V O V T X O O V O V O V O O T V O V O V V O V V O N T V O O V V

U.S. Gold* U3O8 Corp U3O8 Corp* Ubique Mineral UC Res* Ucore Rare Mtl* Ucore Rare Mtl UEX Corp Ultra Resource* Ultra Resource

D V O C O O V T O V

Change

T 0.20 0.15 0.12 0.32 0.24 0.02 0.35 0.00 13.37 0.03 0.67 0.58 0.24 0.31 0.00 0.10 0.13 0.25 0.30 1.21 1.57 0.11 21.65 16.82 25.21 0.09 0.07 0.16 0.12 0.50 0.80 0.00 0.00 0.26 10.73 13.82 0.07 0.06 0.33 0.25 0.04

0.21 0.16 0.13 0.35 0.27 0.02 0.51 0.00 21.50 0.03 0.75 0.60 0.29 0.35 0.14 0.10 0.14 0.26 0.33 1.30 1.68 0.11 22.47 17.53 26.51 0.12 0.09 0.18 0.12 0.66 0.84 0.13 0.10 0.26 11.00 14.14 0.07 0.06 0.33 0.26 0.04

(100s)

12-month

High

+ + unch + unch + + + + + + + + unch unch + + + + + + unch + + + -

Week

Exc Volume

High

Low

Last

52 276 278 93 764 10 23 144 572 40 0 223 34 0 617 682 214 691 7 3 35 299 307 540 2980 2420 156 1045 2335 6 502 0 100 1024 87 16 2 1123 17 40 889 0 180 178 397 64 0 329 5435 167 379 3 7 296 66 1173 82 7 699 20 1274 184 889 522 69 778 157 7 86 1 9 181 214 288 970 186 3550 1711 236 53 40 510 197

0.09 0.18 2.94 2.35 1.77 0.06 0.82 0.26 0.19 0.17 0.00 0.08 0.07 0.00 0.50 0.39 0.17 0.22 0.07 0.59 0.61 0.77 0.31 1.06 1.35 0.06 0.43 0.09 0.19 2.79 0.35 0.00 15.77 19.79 0.70 0.55 0.06 0.08 0.04 0.05 0.18 0.13 1.07 1.36 7.02 0.13 0.00 0.16 0.20 0.18 0.23 0.12 0.07 0.08 2.55 1.99 0.10 0.04 0.07 0.06 0.29 0.21 0.22 0.17 0.94 1.21 0.09 0.19 0.25 0.06 0.11 0.51 2.15 2.73 0.99 0.73 13.57 17.44 0.03 0.02 0.00 0.02 0.09

0.09 0.13 2.50 1.94 1.58 0.06 0.00 0.23 0.17 0.14 0.00 0.08 0.06 0.00 0.36 0.28 0.14 0.19 0.07 0.58 0.00 0.65 0.26 0.82 1.05 0.04 0.40 0.07 0.13 2.15 0.26 0.00 14.19 18.40 0.67 0.53 0.06 0.07 0.03 0.04 0.17 0.13 1.00 1.29 6.57 0.12 0.00 0.14 0.19 0.17 0.19 0.12 0.05 0.07 2.35 1.82 0.08 0.00 0.07 0.06 0.24 0.19 0.19 0.14 0.87 1.11 0.08 0.17 0.23 0.06 0.00 0.00 2.00 2.57 0.86 0.67 12.09 15.60 0.02 0.01 0.00 0.02 0.08

0.09 0.13 2.55 2.00 1.67 0.06 0.80 0.26 0.18 0.14 0.15 0.08 0.06 0.14 0.48 0.37 0.17 0.22 0.07 0.58 0.55 0.70 0.30 1.05 1.33 0.05 0.41 0.09 0.19 2.30 0.32 0.10 15.03 19.23 0.67 0.54 0.06 0.07 0.03 0.05 0.18 0.13 1.06 1.35 6.78 0.13 0.10 0.15 0.19 0.18 0.23 0.12 0.06 0.08 2.48 1.95 0.09 0.04 0.07 0.06 0.25 0.20 0.22 0.17 0.90 1.16 0.08 0.17 0.25 0.06 0.11 0.46 2.08 2.64 0.88 0.69 12.39 15.88 0.03 0.02 0.00 0.02 0.09

157 214 237 18 2212 2918 244 3879 11 58

13.23 0.18 0.14 0.07 3.42 0.08 0.90 0.23 0.06 0.08

12-month Change

(100s)

High Low

Stock Umbral Enrgy* Unigold* Unigold United Battery United Battery* United Res Hdg* United States A* United States S* Universal Cop* Universal Cop Universal Vent Ur-Energy* Ur-Energy Uragold Bay Rs Uranium Energy* Uranium Hunter* Uranium Res* Uranium Roylty Uranium Roylty* Uravan Mnrls* Uravan Mnrls UrbanGold Min USCorp* Usha Res Val-d’Or Mg Val-d’Or Mg* Vale* Valley High Mg* ValOre Metals* ValOre Metals Valorem Res Valterra Res* Valterra Res Vanadian Enrgy* Vanadian Enrgy Vanadium One* Vanadium One Vanadiumcorp* Vanadiumcorp Vangold Res* Vangold Res Vanstar Mng Rs Vanstar Mng Rs* Vantex Res Vantex Res * Velocity Mnrls* Velocity Mnrls Vendetta Mng* Vendetta Mng Venerable Vent Venture Mnrls* Verde Potash Verde Res* Veris Gold* Vertical Expl* Vertical Expl Victoria Gold* Victoria Gold Victory Metals* Victory Metals Victory Nickel* Victory Nickel Victory Res Victory Res* Virginia Enrgy Virginia Enrgy* Viscount Mng Visible Gold M Visible Gold M* Vision Lithium Vision Lithium* Visionary Gold Vista Gold Vista Gold* Viva Gold* Viva Gold Vizsla Res Vizsla Res * Volatus Cap Volcanic Gold* Volcanic Gold Voyageur Min* Voyageur Min Voyageur Min* Voyageur Min VR Resources* VR Resources Vulcan Mnrls* Vulcan Mnrls VVC Expl VVC Expl*

O O V C O O X N O V V X T V X O D V O O V V O V V O N O O V C O V O V O V O V O V V O V O O V O V V O T O O O V O T O V O C C O V O V V O V O V T X O V V O C O V O C O V O V O V V O

Walcott Res Walcott Res*

C O

unch + unch unch + unch unch unch unch + + + + unch + + + + + + + + unch + + + unch unch unch + unch + + unch + unch unch unch unch + + + + unch + + + unch unch + + unch

0.00 0.02 0.30 0.19 0.09 0.00 0.00 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.12 0.10 0.01 0.01 0.00 0.01 0.09 0.05 0.04 0.05 0.03 0.01 0.02 0.02 0.05 0.50 0.02 0.00 0.10 0.07 0.01 0.00 0.00 0.00 0.01 0.00 0.01 0.00 0.01 0.01 0.01 0.01 0.00 0.01 0.01 0.03 0.01 0.00 0.00 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.02 0.02 0.03 0.03 0.04 0.04 0.00 0.02 0.03 0.00 0.02 0.01 0.03 0.06 0.00 0.00 0.10 0.16 0.00 0.00 0.00 0.01 0.00

0.09 0.17 4.85 3.80 2.65 0.08 0.82 0.70 0.28 0.34 0.29 0.20 0.16 0.20 0.50 0.39 0.19 0.25 0.08 1.50 0.78 1.10 0.78 2.98 3.93 0.07 0.50 0.10 0.16 3.09 0.55 0.50 19.45 25.52 0.79 0.59 0.10 0.14 0.05 0.07 0.24 0.18 1.40 1.98 7.69 0.14 0.11 0.20 0.26 0.29 0.40 0.19 0.08 0.12 3.61 2.74 0.13 0.30 0.15 0.11 0.47 0.35 0.48 0.34 1.33 1.82 0.11 0.32 0.38 0.10 0.13 0.51 3.40 4.51 1.80 1.33 13.57 17.44 0.03 0.02 0.01 0.05 0.11

0.03 0.03 0.27 0.20 0.43 0.03 0.52 0.10 0.13 0.06 0.07 0.04 0.03 0.07 0.06 0.02 0.05 0.07 0.03 0.35 0.11 0.14 0.24 0.31 0.44 0.02 0.10 0.06 0.12 0.50 0.15 0.00 6.19 8.79 0.27 0.21 0.01 0.02 0.02 0.03 0.11 0.08 0.90 0.45 4.23 0.06 0.05 0.04 0.06 0.09 0.03 0.12 0.01 0.02 1.50 1.03 0.05 0.01 0.04 0.06 0.19 0.13 0.07 0.06 0.30 0.42 0.02 0.18 0.04 0.02 0.04 0.05 0.27 0.38 0.27 0.20 3.01 4.30 0.01 0.00 0.00 0.02 0.03

12.10 13.15 + 0.14 0.18 + 0.11 0.14 + 0.07 0.07 unch 2.82 3.34 + 0.07 0.08 unch 0.84 0.84 0.19 0.23 + 0.05 0.06 + 0.06 0.08 +

0.72 0.03 0.02 0.00 0.38 0.00 0.02 0.01 0.01 0.02

14.44 0.20 0.90 0.07 3.60 0.18 2.30 0.25 0.08 0.09

2.61 0.04 0.01 0.04 0.09 0.05 0.70 0.07 0.01 0.02

U-V

Week

Exc Volume

Last

12-month

High

Low

493 56 1143 104 85 389 15696 34054 0 44 214 6477 820 6937 11967 1425 23458 199 103 127 510 572 810 121 146 47 70274 6043 557 385 504 237 163 75 65 6 164 515 2195 1374 5268 270 194 1 1 56 249 24 633 3 48 256 2 223 121 556 336 1751 153 62 10 68 3562 22 11 113 349 2207 1455 12942 494 373 70 1004 86 61 1228 488 100 20 67 7 11 0 641 90 160 4 124 398 194

0.13 0.32 0.40 0.77 0.60 0.03 0.55 17.68 0.00 0.07 1.85 0.82 1.05 0.96 1.80 0.04 6.42 1.28 1.00 0.03 0.04 0.22 0.00 0.21 0.12 0.09 17.13 0.03 0.24 0.31 0.16 0.06 0.08 0.05 0.06 0.11 0.13 0.08 0.10 0.32 0.29 1.28 1.04 0.00 0.15 0.39 0.50 0.05 0.06 0.12 0.04 0.81 0.04 0.01 0.03 0.04 9.43 12.14 0.60 0.74 0.04 0.03 0.09 0.05 0.11 0.09 0.47 0.40 0.31 0.04 0.03 0.17 1.53 1.13 0.20 0.26 1.73 1.34 0.23 0.34 0.45 0.24 0.35 0.00 0.07 0.27 0.34 0.05 0.07 0.10 0.08

0.10 0.11 0.27 0.27 0.37 0.37 0.70 0.77 + 0.56 0.60 + 0.02 0.03 unch 0.42 0.47 + 16.26 16.79 0.00 0.07 unch 0.00 0.07 unch 1.68 1.78 + 0.65 0.82 + 0.83 1.05 + 0.73 0.87 + 1.59 1.76 0.03 0.04 4.61 5.37 + 1.19 1.27 + 0.94 1.00 + 0.03 0.03 + 0.03 0.04 0.21 0.22 0.00 0.00 0.19 0.20 unch 0.00 0.12 + 0.09 0.09 + 16.60 16.89 0.02 0.02 0.21 0.24 + 0.28 0.30 + 0.14 0.16 + 0.06 0.06 0.07 0.08 + 0.03 0.03 0.00 0.05 + 0.08 0.08 0.12 0.12 0.07 0.07 + 0.08 0.09 unch 0.21 0.22 unch 0.26 0.28 unch 1.17 1.21 0.90 0.92 0.00 0.20 unch 0.00 0.15 unch 0.36 0.37 0.47 0.48 0.04 0.04 + 0.06 0.06 unch 0.12 0.12 unch 0.04 0.04 unch 0.77 0.80 + 0.00 0.04 + 0.00 0.01 0.02 0.03 unch 0.03 0.03 8.55 9.39 + 11.00 12.03 + 0.48 0.57 + 0.69 0.70 unch 0.02 0.02 0.03 0.03 unch 0.05 0.07 + 0.05 0.05 0.00 0.10 0.07 0.07 0.41 0.43 0.22 0.34 + 0.18 0.27 + 0.03 0.03 unch 0.02 0.03 + 0.13 0.15 + 1.37 1.40 unch 1.07 1.08 unch 0.18 0.20 + 0.24 0.26 + 1.45 1.70 + 1.13 1.33 + 0.23 0.23 unch 0.32 0.34 + 0.00 0.44 unch 0.24 0.24 0.28 0.35 + 0.00 0.05 unch 0.06 0.07 + 0.23 0.25 0.29 0.30 0.04 0.04 0.06 0.06 0.09 0.09 unch 0.07 0.08 +

859 1992

0.46 0.36

Change 0.00 0.05 0.03 0.01 0.02 0.00 0.04 0.08 0.00 0.00 0.03 0.13 0.17 0.12 0.05 0.00 0.53 0.05 0.04 0.00 0.01 0.03 0.00 0.00 0.01 0.00 0.48 0.00 0.01 0.02 0.02 0.00 0.01 0.00 0.01 0.02 0.01 0.00 0.00 0.00 0.00 0.03 0.07 0.00 0.00 0.02 0.03 0.00 0.00 0.00 0.00 0.01 0.03 0.00 0.00 0.01 1.08 1.23 0.01 0.00 0.00 0.00 0.01 0.00 0.01 0.01 0.03 0.11 0.08 0.00 0.01 0.02 0.00 0.00 0.01 0.02 0.22 0.17 0.00 0.02 0.00 0.00 0.05 0.00 0.02 0.00 0.05 0.02 0.01 0.00 0.00

Stock

0.24 0.50 0.67 0.99 0.76 0.06 0.73 20.00 0.07 0.12 6.50 0.79 1.01 0.93 1.87 2.75 14.50 1.32 1.02 0.03 0.04 0.45 0.00 0.27 0.20 0.15 17.46 0.05 0.31 0.41 0.29 0.10 0.14 0.06 0.08 0.12 0.16 0.09 0.11 0.45 0.34 1.75 2.32 0.31 0.22 0.41 0.54 0.09 0.11 0.15 0.04 0.87 0.01 2.00 0.04 0.07 16.09 21.04 0.66 0.83 0.06 0.08 0.25 0.10 0.15 0.11 0.49 0.38 0.30 0.10 0.08 0.17 1.90 1.45 0.36 0.48 2.93 2.14 0.44 0.68 0.93 0.38 0.52 0.10 0.12 0.35 0.50 0.07 0.10 0.15 0.13

Walker Lane* Walker River* Walker River Wallbridge Mng* Wallbridge Mng Waraba Gold Warrior Gold* Warrior Gold Waseco Res Wealth Mnrls* Wealth Mnrls Wescan Gldflds Wescan Gldflds* Wesdome Gold Wesdome Gold* West High Yld West Mining West Red Lake* West Red Lake West Vault Western Areas* Western Atlas Western Atlas* Western Copper* Western Copper Western Gold Western Mag* Western Mag Western Potash Western Res* Western Troy C* Western Troy C Western U&V Western U&V* Westgold Res* Westhaven Gold Westhaven Vent* Westkam Gold* Westkam Gold Westminster Rs Westminster Rs* WestMountain* Wheaton Prec M Wheaton Prec M* White Energy* White Gold* White Gold White Metal R* White Metal Rs White Mtn Engy* Whitehaven Coa* Whitehorse GC Wildsky Res* Wildsky Res Winshear Gold Winshear Gold* Winston Gold Winston Gold* Winston Res Wolfden Res* Wolfden Res Wolfeye Res Worldwide Res* Worldwide Res X-Terra Res* X-Terra Res Xanadu Mines Xander Res Xander Res* Xemplar Egy* Xiana Mng* Xiana Mng Ximen Mining Ximen Mining* Xplore Res Xtierra Inc Xtra-Gold Res Xtra-Gold Res* Yamana Gold Yamana Gold* Yanzhou Coal* Yorbeau Res* Yorbeau Res Zadar Ventures* ZEN Graphene* ZEN Graphene Zena Mining Zephyr Mnls Zephyr Mnls* Zimtu Capital Zinc One Res * ZincX Res ZincX Res* Zonte Metals Zonte Metals*

0.06 0.07 0.10 0.01 0.03 0.02 0.22 4.54 0.01 0.03 1.57 0.27 0.39 0.05 0.35 0.01 0.25 0.80 0.56 0.00 0.01 0.05 0.00 0.10 0.06 0.04 6.49 0.00 0.09 0.14 0.06 0.03 0.03 0.00 0.01 0.03 0.04 0.03 0.03 0.03 0.03 0.40 0.31 0.15 0.10 0.15 0.20 0.01 0.03 0.03 0.00 0.21 0.00 0.00 0.01 0.02 2.88 4.02 0.11 0.17 0.01 0.01 0.05 0.02 0.04 0.03 0.20 0.04 0.02 0.01 0.01 0.01 0.51 0.36 0.09 0.14 0.24 0.16 0.08 0.03 0.05 0.13 0.13 0.03 0.04 0.10 0.16 0.03 0.03 0.02 0.01

0.39 0.31

0.02 0.01

1.17 0.09 0.90 0.17

/ J AN U AR Y 4 — 1 7 , 2 0 2 1

(100s)

High Low

W-Z 0.37 0.26

M I N ER

Exc Volume O O V O T C O V V O V V O T O V V O C V O V O X T V O V T O O V C O O V O O V V O O T N O O V O V O O V O V V O C O C O V V O V O V T V O O O V V O V V T O T N O O T O O V V V O V O V O V O

4 124 229 1071 2767 221 110 191 79 335 485 97 0 1130 117 321 2 1316 1023 46 96 830 80 810 177 69 221 112 231 1 2 4 91 146 14 568 368 6 108 15 0 0 3814 5645 0 177 277 40 491 32 13 886 5 16 1 0 1547 1651 1085 146 2117 304 0 23 1 548 44 123 3 3 25 163 566 99 808 162 30 25 8247 40648 112 730 350 2 688 3532 144 159 140 105 85 365 81 813 9

Week

23 12-month

High

Low

Last

Change

0.06 0.09 0.11 0.68 0.85 0.33 0.08 0.10 0.04 0.07 0.10 0.06 0.00 11.25 8.81 0.22 0.26 0.08 0.10 1.53 2.04 0.07 0.00 1.29 1.62 0.50 0.09 0.12 0.18 0.14 0.15 0.17 1.25 0.91 2.05 0.87 0.67 0.15 0.19 0.23 0.00 0.00 55.04 42.90 0.00 0.65 0.81 0.05 0.08 0.00 1.33 3.54 0.15 0.20 0.00 0.00 0.17 0.14 1.49 0.24 0.32 0.85 0.03 0.04 0.11 0.14 0.04 0.16 0.13 0.00 0.05 0.06 0.30 0.25 0.07 0.10 1.46 1.10 7.46 5.81 0.00 0.05 0.06 0.17 1.99 2.55 0.20 0.19 0.15 0.15 0.01 0.18 0.13 0.19 0.15

0.06 0.06 unch 0.08 0.08 + 0.10 0.11 + 0.61 0.61 0.78 0.79 0.32 0.33 unch 0.06 0.08 0.00 0.10 + 0.00 0.04 unch 0.06 0.07 + 0.09 0.10 + 0.06 0.06 unch 0.00 0.04 unch 10.58 10.87 8.20 8.48 0.16 0.22 0.26 0.26 unch 0.06 0.07 0.09 0.09 unch 1.46 1.51 + 1.88 1.98 + 0.06 0.06 0.00 0.04 unch 1.20 1.26 1.57 1.59 0.43 0.50 + 0.08 0.09 0.00 0.11 0.16 0.17 + 0.11 0.14 + 0.15 0.15 unch 0.16 0.16 1.00 1.06 + 0.78 0.84 + 0.00 1.99 0.77 0.85 + 0.60 0.67 + 0.15 0.15 0.18 0.19 0.00 0.19 0.00 0.14 unch 0.00 1.00 unch 52.71 54.33 + 40.76 42.42 + 0.00 0.10 unch 0.56 0.62 + 0.74 0.80 + 0.05 0.05 unch 0.07 0.07 + 0.00 0.00 unch 1.21 1.26 2.18 3.30 + 0.00 0.15 unch 0.18 0.19 0.00 0.09 unch 0.00 0.06 unch 0.15 0.16 0.12 0.13 1.02 1.09 0.19 0.23 + 0.23 0.29 + 0.78 0.84 + 0.03 0.03 unch 0.04 0.04 unch 0.11 0.11 0.13 0.14 + 0.04 0.04 unch 0.15 0.15 unch 0.12 0.12 0.00 0.00 unch 0.05 0.05 unch 0.00 0.06 0.28 0.29 0.22 0.22 0.05 0.06 0.09 0.10 + 1.30 1.34 + 1.04 1.06 + 7.07 7.27 + 5.47 5.67 + 0.00 0.74 unch 0.04 0.05 + 0.05 0.05 unch 0.17 0.17 unch 1.29 1.99 + 1.66 2.55 + 0.17 0.20 + 0.17 0.19 unch 0.13 0.15 0.14 0.14 unch 0.00 0.00 0.16 0.16 + 0.12 0.13 + 0.18 0.18 0.15 0.15 +

0.00 0.00 0.01 0.05 0.03 0.00 0.00 0.01 0.00 0.00 0.01 0.00 0.00 0.12 0.14 0.01 0.00 0.00 0.00 0.01 0.03 0.01 0.00 0.03 0.04 0.08 0.00 0.01 0.01 0.03 0.00 0.01 0.05 0.06 0.06 0.05 0.04 0.00 0.01 0.01 0.00 0.00 0.54 0.44 0.00 0.06 0.07 0.00 0.01 0.00 0.01 1.41 0.00 0.01 0.00 0.00 0.01 0.00 0.36 0.03 0.05 0.03 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.04 0.01 0.01 0.01 0.02 0.01 0.02 0.00 0.00 0.00 0.00 0.68 0.91 0.02 0.00 0.01 0.00 0.00 0.01 0.01 0.01 0.01

High Low 0.20 0.14 0.19 1.01 1.35 0.70 0.11 0.15 0.07 0.29 0.38 0.12 0.09 15.00 11.37 0.30 0.30 0.17 0.21 1.99 2.07 0.19 0.14 1.53 1.95 0.60 0.13 0.18 0.31 0.23 0.16 0.33 1.25 0.93 2.05 1.25 0.93 0.22 0.30 0.24 0.14 7.00 76.69 57.89 0.11 2.00 1.34 0.05 0.08 0.03 1.86 4.10 0.20 0.26 0.20 0.11 0.20 0.17 2.25 0.25 0.32 1.28 0.05 0.07 0.18 0.25 0.10 0.45 0.20 0.01 0.22 0.29 0.80 0.60 0.11 0.23 1.54 1.15 9.29 7.02 0.95 0.06 0.08 0.45 1.99 2.23 0.20 1.15 0.88 0.28 0.10 0.18 0.13 0.37 0.28

0.02 0.05 0.06 0.25 0.33 0.02 0.03 0.03 0.02 0.05 0.07 0.03 0.02 5.85 4.10 0.07 0.22 0.02 0.04 0.45 1.15 0.04 0.04 0.31 0.44 0.01 0.07 0.09 0.13 0.11 0.10 0.06 0.25 0.15 1.00 0.35 0.25 0.10 0.08 0.04 0.05 1.00 26.99 18.66 0.04 0.29 0.41 0.02 0.02 0.00 0.63 0.57 0.04 0.01 0.05 0.03 0.01 0.00 0.05 0.05 0.07 0.43 0.02 0.02 0.03 0.03 0.01 0.04 0.11 0.00 0.02 0.04 0.26 0.20 0.05 0.03 0.43 0.30 3.11 2.23 0.64 0.02 0.02 0.11 0.17 0.26 0.04 0.13 0.10 0.08 0.00 0.06 0.04 0.16 0.12

BID-ASK — DECEMBER 20–24, 2020 12-MONTH STOCK

African Metals Aftermath Silv Aiml Res Alacer Gold Allante Res Altan Rio Min Amilot Capital Amseco Expl Anglo-Bomarc Antler Hill Apex Res Archon Mineral Arcus Dev Grp Asbestos Corp Atlanta Gold Atlantic Indus Aurelius Min Aurex Energy Austin Res Avarone Metals Aya Gold Balto Res Banro Corp* Barker Min BE Res Blackheath Res Boss Power Brunswick Res Bullion Gold C2C Gold Cairo Res Camrova Res Canada Coal Carlin Gold Cassius Vents Centurion Mnls Cerro de Pasc Cerro Mng Cliffs Nat Res* Clydesdale Res Comet Inds Cresval Cap CROPS Crystal Peak CWN M’g Acq Cyntar Venture Duro Metals Earl Res Electra Stone ESV Res Everton Res Evolution Glob Excalibur Res Finore Mng Fire River Gol First Idaho Freedom Egy Full Metal Mnl Fusion Gold GAR Limited

EXC

BID

ASK

LAST

V V V T V V V V V V V V V V V V V V V C T V X V V V V V V C V V V V V V C V N V V V V V V C V V V V V C C C V V V V V C

0.06 0.24 0.45 9.41 0.01 0.14 0.07 0.04 0.08 0.05 0.07 0.18 0.03 0.55 0.03 0.02 0.13 0.04 0.08 ... 1.94 0.08 0.11 0.01 0.20 0.19 0.17 ... 0.06 ... 0.34 0.01 0.08 0.06 0.07 0.08 ... 0.40 1.45 0.05 2.50 0.02 0.01 0.01 0.05 0.10 0.19 0.37 0.01 0.45 0.10 1.70 0.09 0.12 0.03 0.08 0.02 0.14 0.01 ...

0.09 0.25 0.45 9.52 ... 0.19 0.07 0.07 0.08 1.00 0.11 0.25 0.04 0.85 0.04 0.03 0.14 0.06 0.12 ... 2.19 0.08 0.11 0.01 0.38 0.24 0.20 0.05 0.15 ... 0.80 0.01 0.08 0.07 0.14 0.08 ... 0.75 3.20 0.06 3.55 0.02 0.01 0.02 0.07 ... 0.38 0.40 0.02 0.56 0.10 2.00 0.10 0.12 0.07 0.98 0.02 0.14 ... ...

0.06 0.25 0.29 9.47 0.16 0.19 0.07 0.04 0.15 0.06 0.10 0.19 0.03 0.64 0.03 0.02 0.14 0.05 0.08 0.04 2.01 0.08 0.11 0.01 0.20 0.19 0.17 0.03 0.10 0.11 0.21 0.07 0.06 0.06 0.08 0.07 0.29 0.60 1.43 0.05 2.90 0.03 0.02 0.01 0.05 0.19 0.18 0.40 0.01 0.56 0.03 2.00 0.10 0.11 0.09 0.12 0.01 0.10 0.17 0.15

HIGH

LOW

0.33 0.31 10.82

0.05 0.10 3.50

0.19 0.08 0.08

0.03 0.01 0.02

0.07 0.17 0.41 0.04 0.99 0.04 0.03 0.15 0.15 0.13 0.15 2.50 0.15 2.10

0.04 0.04 0.10 0.01 0.30 0.03 0.01 0.03 0.03 0.04 0.03 0.82 0.03 0.10

0.25 0.24

0.09 0.07

0.47 0.15 0.35

0.09 0.03 0.20

0.07 0.07 0.10 0.08 0.34 0.60 7.17 0.05 3.40 0.08 0.04 0.10 0.21 0.21 0.27 0.40

0.01 0.01 0.04 0.04 0.12 0.07 0.98 0.01 2.60 0.02 0.01 0.01 0.03 0.11 0.11 0.09

0.56

0.40

2.00 0.11

2.00 0.01

4.13

0.13

12-MONTH STOCK

General Moly General Moly* Global Cop Grp Golden Cariboo Golden Indepen GoldHaven Res Goldhills Hldg Graphite Egy Great Lakes Gr Great Quest Fe Green Arrow Grenville Gold Grosvenor Res GrowMax Res HFX Holding High Point Exp Highbury Proj Highvista Gold Hornby Bay Mnl IEMR Res IM Exploration Indico Res Inspiration Mg Interconnect Intl Battery Iron South Mng Jasper Mining Jubilee Gold K9 Gold Karam Min Karora Res Kermode Res Knick Expl Kodiak Copper La Imperial Latin Metals Leo Res Lida Resources Lido Minerals Madeira Mrnls MAG Silver* Major Precious Margaret Lake Mariner Res Martina Mnls Matachewan Con Melior Res Metalo Manuf Mich Resources Midasco Cap MillenMin Vent Milner Con Slv Minecorp Egy Mineral Hill Mongoose Mg Montana Gold Napier Vent Navis Res Corp Navy Res Nebu Res

EXC

T X V V C C V C V V V C V V V C V V V V C V C V C V V V V C T V V V C V C C C V X C V C V V V C C V V V V V C C V C V V

BID

0.04 ... 0.07 0.10 ... ... 0.09 ... 0.05 ... 0.02 0.08 0.16 0.01 0.03 0.25 0.23 ... 0.06 0.02 0.10 ... ... 0.06 ... 0.24 0.05 0.58 0.17 0.16 0.47 0.01 0.01 0.05 0.05 0.03 ... ... 0.18 ... 12.52 ... 0.03 ... 0.10 0.15 0.05 0.11 0.23 0.08 ... 0.08 ... 0.16 0.07 0.09 0.06 ... 0.54 0.04

12-MONTH

ASK

LAST

HIGH

LOW

STOCK

0.04 ... 0.08 0.12 ... ... 0.14 ... 0.05 0.01 0.03 0.15 0.25 0.01 0.20 0.40 ... ... 0.06 0.03 0.13 0.01 ... 0.35 ... 0.27 0.10 0.90 0.24 0.24 0.48 0.01 0.01 0.06 0.10 0.04 ... ... 0.25 ... 13.30 ... 0.04 ... 0.12 0.17 0.05 0.27 0.28 0.09 0.01 0.13 ... 0.16 0.20 0.10 ... ... 0.60 0.04

0.04 0.11 0.08 0.10 0.38 0.42 0.14 0.47 0.04 0.10 0.02 0.08 0.17 0.09 0.02 0.25 0.23 0.17 0.06 0.02 0.09 0.01 0.03 0.08 0.31 0.24 0.05 0.90 0.24 0.17 0.48 0.01 0.01 0.05 0.06 0.03 1.09 0.24 0.20 0.03 12.52 0.42 0.03 0.59 0.06 0.13 0.08 0.10 0.23 0.09 0.05 0.10 0.12 0.15 0.05 0.10 0.07 0.30 0.63 0.04

0.54 100.00 0.11 0.15 0.40 0.45 0.18 0.47

0.03 0.10 0.04 0.02 0.05 0.06 0.06 0.42

0.04 0.15 0.20

0.02 0.06 0.09

0.02 0.39 0.30

0.02 0.02 0.22

0.11 0.04 0.18

0.03 0.01 0.04

0.11

0.06

0.28 0.10 0.90 0.28 0.30 0.73 0.02

0.04 0.03 0.38 0.16 0.10 0.20 0.01

0.13 0.12 0.16

0.04 0.01 0.02

0.27 0.30

0.13 0.19

14.40 0.42 0.09 0.62 0.06 0.19 0.08 0.30 0.40 0.09

6.12 0.02 0.02 0.13 0.05 0.10 0.02 0.07 0.15 0.07

0.20 0.20

0.02 0.07

0.14 0.10 0.14

0.05 0.02 0.04

0.70

0.12

New Klondike Northway Res NRG Metals Optimus Gold Ord Mountain Pac Arc Res Pan Andean Min Parallel Mng Parlane Res Pedro Res Primary Energy ProAm Expl Project One Prophecy Pot Quantum Cobalt Quinto Res Rare Element* Razore Rock Res Red Oak Mining Reliant Gold Rizal Res Rochester Res Rockex Mng Rockland Mnls Ross River Royal Gold Sage Gold Samco Gold Secova Mtls Sennen Potash Slave Lake Zn Southern Arc SouthGobi Res Southstone Min Stans Energy Stria Lithium Stuve Gold Surge Explor Tearlach Res Thunder Mtn Gd Tiger Intl Trench Metals Tri-River Vent Trident Gold TriMetals Mng Vale* ValOre Metals Vangold Res Vatic Vent Volatus Cap Whitemud Res Winshear Gold Yukoterre Res Zadar Ventures Zara Res Zinc One Res Zinco Mng Zincore Mtls

EXC

BID

V V V V V V V V V V C V C C C V X C V C V V C V V V V V V V C V T V V V V V V V V V V V T N V V V C V V C V C V V V

0.01 0.08 0.31 0.12 0.30 0.03 ... 0.01 0.07 0.09 ... 0.07 0.27 0.12 ... 0.04 0.11 0.06 0.10 ... 0.01 0.07 0.03 0.07 ... 0.33 0.01 0.01 0.05 ... 0.07 0.32 ... 0.01 0.01 0.03 0.34 0.39 0.11 0.12 0.11 0.55 ... 0.12 0.11 ... 0.06 0.34 0.05 0.15 0.01 0.12 ... 0.35 ... 0.01 0.05 0.05

ASK

0.01 0.45 0.34 0.20 ... 0.25 0.09 0.13 0.07 0.15 ... 0.14 0.32 0.19 ... 0.04 0.16 0.10 0.20 ... 0.02 0.08 0.04 0.08 0.35 0.40 0.01 0.01 0.06 1.10 0.08 0.90 0.01 0.01 0.01 0.03 0.39 0.44 0.19 ... 0.14 0.55 ... 0.16 0.12 ... 0.07 0.34 ... 0.25 0.02 0.14 ... 0.35 ... 0.02 0.07 0.40

LAST

0.01 0.14 0.31 0.15 0.20 0.16 0.09 0.15 0.07 0.13 0.17 0.08 0.30 0.12 1.10 0.08 0.15 0.06 0.10 0.02 0.02 0.08 0.03 0.08 0.26 0.40 0.02 0.05 0.05 0.45 0.08 0.89 0.09 0.01 0.01 0.02 0.42 0.39 0.11 0.15 0.14 0.55 0.04 0.12 0.12 10.24 0.07 0.28 0.10 0.23 0.02 0.14 0.10 0.30 0.07 0.01 0.05 0.05

HIGH

LOW

0.17 0.66 0.18 0.25 0.21 0.10 0.20 0.10 0.19 0.82 0.15 0.60 0.20 3.15 0.08 0.89 0.10 0.15

0.05 0.24 0.01 0.06 0.16 0.08 0.10 0.02 0.09 0.16 0.05 0.12 0.02 0.20 0.02 0.06 0.04 0.07

0.10 0.05 0.11

0.03 0.02 0.01

0.60

0.20

0.05

0.13 0.93 0.20 0.04 0.02 0.03 0.45 0.23 0.20 0.29 0.20 0.22

0.04 0.24 0.06 0.01 0.01 0.01 0.21 0.03 0.10 0.07 0.07 0.04

0.19 0.12 11.10 0.13 0.34

0.12 0.03 6.57 0.07 0.03

0.44 0.03 0.15 0.10 0.35 0.22 0.03

0.08 0.01 0.05 0.08 0.10 0.07 0.01

J AN U AR Y 4 — 1 7 , 2 0 2 1

/ TH E N OR TH ER N

M I N ER

W . N OR TH ER N M I N ER . COM

MAKING THE GRADE Executing one of the Largest Drill Programs in Canada

Fully funded 300,000 m drill program aims to build ounces on known gold zones and discover multiple new zones Consistently delivers exceptional high grade results, +60 drill holes have intersected gold mineralization greater than 10 g/t Au over variable widths Recent holes returned PE-19-27 – 56.75 g/t Au over 8.50m, PE-20-171 – 44.22 g/t Au over 9.10m, PE-20-167 – 35.13 g/t Au over 3.30m Located in the Quebec Abitibi Gold Belt, the Perron project is surrounded by gold mines

Amex Exploration (TSX.V: AMX, OTCQX: AMXEF, FRA: MX0) info@amexexploration.com +1 514 866 8209