The Northern Miner July 20 2020 Issue 15

C M S T H OUG H T L EA D E R S H I P PA N E L S / 6 Geotech_Earlug_2016_Alt2.pdf 1 2016-06-24 4:27:20 PM

SPECIAL FOCUS

TECHNOLOGY METALS Lithium and cobalt on the rise / 9-13

DELIVERING QUALITY EXPERTISE GLOBALLY ACROSS THE ENTIRE MINING LIFE CYCLE

VTEM™ | ZTEM™ | Gravity | Magnetics 905 841 5004 | geotech.ca

WWW.SGS.COM/MINING

MINERALS@SGS.COM

JULY 20–AUGUST 2, 2020 / VOL. 106 ISSUE 15 / GLOBAL MINING NEWS · SINCE 1915 / $5.25 / WWW.NORTHERNMINER.COM

79North taps into Suriname’s Guiana Shield SURINAME

| Junior gold explorer focused on concessions in the Nassau plateau

KoBold Metals employs big data, geoscientists in pursuit of battery metals EXPLORATION

| Company’s primary focus is hunting for cobalt

BY TRISH SAYWELL

K

Jon North (far right) at the Nassau project in Suriname. 79NORTH

BY TRISH SAYWELL

E

tsaywell@northernminer.com

xploration geologist Jon North was attending Mille Miglia – the annual re-enactment of the classic car race from Brescia in the foothills of the Italian Alps to Rome and back – when he met Oscar Louzada.

Louzada, a Dutch mining investor who had worked in Canaccord Genuity’s London office for several years, bonded with North over their mutual appreciation for “sexy European cars” and the two attended the event for many years as part of a larger group of friends from Holland, Switzerland and Italy.

“I grew up in Windsor so I have gasoline in my veins,” jokes North, who drives a 2007 Ducati S2R 100 and a 2015 Ducati MS 1200, noting that the motorcycles give him “street cred” with his Italian friends.

But North and Louzada had more in common than spring vacations in Italy and vintage car rallies. Louzada had started looking for gold deposits in Suriname and started a company with a group of friends – picking up the Nassau project – a 200 sq. km

“THE ONLY CONCLUSION YOU CAN ARRIVE AT IS THAT THE PLATEAU IS THE SOURCE OF THE GOLD IN THE PLACERS.” JON NORTH CEO AND CHAIRMAN 79NORTH

property adjacent to Newmont’s (TSX: NGT; NYSE: NEM) Merian mine and about 50 km from Iamgold’s (TSX: IMG) Rosebel mine.

“Oscar had been bugging me to go to Suriname for years,” North recalls, “but I said, ‘I’m too busy, I’m drilling off an ore deposit.’”

At the time, the company he had founded, Northquest, was advancing the Pistol Bay project on the west coast of Hudson Bay in eastern Nunavut, 80 km south of Agnico Eagle Mines’ (TSX: AEM; NYSE: AEM) Meliadine mine.

Inco Gold had discovered the property in the 1980s, and when North acquired it in 2010, he hired

out of retirement Inco Gold’s former geologist, Dwayne Carr, to manage Northquest’s exploration program.

“Inco’s diamond drill hole in the 1980s was something like 120 metres at 2.5 parts per million (ppm) gold, and the property sat there open for staking for 25 years, even though it was across the bay from Meliadine,” North says. “It was Dwayne’s favourite project of his entire career at Inco, and our first drill hole there intersected something like 150 metres of 5 ppm gold. The stock traded from 10¢ to $1.00 in a single session.”

The timing didn’t work in Northquest’s favour, however.

“It was 2012 and the beginning of the market from hell, and even with results like that I couldn’t raise any money. That’s when I realized that the market was the most powerful force in the universe,” North says.

Ultimately, Northquest completed an inferred resource on Pistol Bay’s Vickers zone of 7.79 million tonnes averaging 2.95 grams gold per tonne for 739,000 contained oz. in April 2016. The company was then Se e SURINAME / 3

tsaywell@northernminer.com

oBold Metals is investing in battery metal projects using big data and scientific computing with capital from billionaires including Bill Gates and Jeff Bezos.

The privately held Californiabased company has also lured David Broughton, the world-renowned expert in sediment-hosted copper deposits, to lead its hydrothermal systems team, and hired a number of other very high-profile geoscientists.

“David is very substantially involved,” Josh Goldman, KoBold Metals’ chief financial and technical officer, says of Broughton in a telephone interview.

Broughton worked for Ivanplats, now Ivanhoe Mines (TSX: IVN; NYSE: IVN), from January 2008 through October 2016, and was coawarded the PDAC’s Thayer Lindsley and AME’s Colin Spence awards for world-class discoveries at Kamoa in the Democratic Republic of the Congo and Platreef in South Africa.

Goldman, who holds a PhD in physics from Harvard University, explains that the exploration company is a “little bit unusual in that more than half of the staff are data scientists and engineers.” On the technology side of the house, he says, “they are folks with deep backgrounds in the physical sciences, people with PhDs in physics, geophysics, and experimental quantum computing.”

“It’s fantastic because we have these amazing data scientists who get to work with very well-esteemed geological scientists and can understand the interplay and apply all manner of statistical methodologies, and lots of experience in the field.

A lot of this is difficult to quantify, but that combined is what makes this program so potent.”

Among the team are Jake Edman, director of machine learning, a data scientist and atmospheric physicist who has a PhD in earth and planetary science, and Murray Hitzman, who has a PhD in geology and is a world-leading economic geologist.

Jessica Kirkpatrick, who earned a PhD in astrophysics, and Elizabeth Main, who has a PhD in physics, are directors of data science.

Other luminaries include John Thompson, a technical and business

COVID-19 IMPACTING COPPER INDUSTRY IN CHILE / 5

advisor, who has a PhD in geology and has spent more than 35 years in the mining industry, and KoBold’s VP Exploration, Patrick Redmond, who has a PhD in geological and environmental sciences. Peter Lightfoot, the company’s magmatic systems lead, has a PhD in geology and spent 20 years with Inco and Vale.

He was a member of the team that made major discoveries in every one of the cobalt-producing nickelcopper sulphide deposits in Canada.

“What it comes down to is having a system that allows us to aggregate and work with an extra amount of data and then apply machine learning as well as expert geological insight, based on an ore body, and apply the best of both approaches to guide our exploration program,” says Goldman.

It also comes down to patient capital. The exploration startup is backed by California venture capital firm Andreesen Horowitz, as well as Breakthrough Energy Ventures, a fund set up by Bill Gates in 2015 with Se e EXPLORATION / 2 P M 4 0 0 6 9 2 4 0

2

WWW.NORTHERNMINER.COM

JULY 20–AUGUST 2, 2020 / THE NORTHERN MINER

David Broughton, Hydrothermal Systems Lead for KoBold Metals, taking samples at a sediment-hosted copper-cobalt prospect in the Central African Copperbelt. PATRICK REDMOND, KOBOLD METALS.

EXPLORATION F r om 1

money from a coalition of private investors, including Amazon founder Jeff Bezos and Virgin Group founder Richard Branson. Norway’s statebacked energy company Equinor recently took a stake in the company to get additional expertise in its hunt for oil and gas.

“We want to put great capital to work in great projects,” says Goldman.

KoBold’s primary focus is hunting for cobalt deposits and has staked claims in northeastern Saskatchewan up to the province’s border with the Northwest Territories.

“The one in Saskatchewan is very greenfield – it’s a potential new camp – but it’s very unconstrained,” he says.

“The other one we have in the public domain is in a historic camp where we think there’s a tonne of additional exploration potential. It’s a very large, established camp in Canada.”

The asset, which covers about 1,000 sq. km, is in the Cape Smith belt of northern Quebec, just south of Glencore’s (LSE: GLEN) Raglan mine and the Expo-Ungava property being developed by Canadian Royalties and Jilin Jien Nickel. The company plans to start collecting geophysical data over the next six months to zero in on the area’s co-

balt, nickel and PGM potential.

“The company’s Machine Prospector technology identified highly prospective areas for nickel-cobalt sulfide mineralization in the Cape Smith belt, a world-class nickel district with regions that remain significantly underexplored,” Goldman says. “KoBold’s prospects emerged from statistical models that relied on digitizing and integrating the patchwork of geologic mapping and geophysical and geochemical measurements collected over decades of exploration in the camp.”

Goldman declines to identify any of the company’s other properties or provide any details on them, but says it is applying its technology to identify prospective areas in greenfield and brownfield sites.

KoBold looks at greenfields opportunities on concepts it generates; it acquires properties from other companies; and it also strikes partnerships with companies on specific projects that have useful data. “We make the asset more valuable by adding technology to it, so the likelihood of finding greater resources is higher,” Goldman says.

“Some of them are brownfield opportunities where there is an existing resource and we’re looking to expand the resource, and others where there’s a whole range of

“WE MAKE THE ASSET MORE VALUABLE

BY ADDING TECHNOLOGY TO IT, SO THE LIKELIHOOD OF FINDING GREATER RESOURCES IS HIGHER.” JOSH GOLDMAN CHIEF FINANCIAL AND TECHNICAL OFFICER, KOBOLD METALS

conceptual targets, some of which are totally untested, and some of which have had initial tests.”

Then there are regional partnerships where there is data over a much larger area – not just data on a project that its partner owns.

Even some of the industry’s larger mining companies are “excited about potentially working with us,” he says.

“We have to use data better, and we have to be more efficient and effective in deploying our exploration capital,” Goldman explains. “But doing it is really hard. The data is very messy, and we’re looking for fainter signals in this. Exploration under cover – finding a 100 million tonne outcropping ore project is not the dominant exploration project now, and everyone in the industry is trying to figure out how to do this, so both large and small companies like us. All the large mining companies have leverage to do this, but there are so many opportunities out there.”

In addition to cobalt, the company is interested in nickel and is looking

to have access to other metals as co-deposit credits.

“Copper is not a cathode metal, but as a co-deposit with cobalt and nickel, we’re interested in copper as well,” he says.

Goldman confirms that lithium is of interest but says it’s a lower priority, and KoBold Metals does not currently have any in its portfolio.

“There is so much of it, it’s harder,” he says. “Lithium is only interesting if you have tenth lower production costs … We have ideas of finding high-quality lithium resources, but we haven’t put as much effort into looking for it.”

He also emphasizes that KoBold Metals has no desire to become a mining company and expects to take projects up the value curve only as far as a decision to mine and then another party will hold a majority interest.

In terms of jurisdictions, the company “will go anywhere in the world minus a few jurisdictions with difficult security of tenure, or which are large and difficult places

to operate, or which are corrupt … certainly not Russia, for example.”

“We’re looking at resources of battery metals that can be produced ethically, so jurisdictions where there’s good rule of law and where we’re confident we can operate in.”

When asked if the Democratic Republic of the Congo is off limits, he replies: “It’s not a high priority jurisdiction for us – it’s a more challenging place to operate and we’re looking to develop battery metal resources that are not dependent on the DRC, so you won’t see us acquiring properties there anytime soon.”

The management team also gives a lot of weight to security, making countries such as Burkina Faso, Mali and Cote d’Ivoire in West Africa questionable. “Those jurisdictions are not totally off-limits. They are possible, but the above-ground component of the opportunity area is always a condition and that would be obviously true of West Africa, but it’s not totally off-bounds for us.”

As for the Covid-19 pandemic, it hasn’t slowed the company down too much, Goldman says.

“There’s a lot that can be done at desktop, and we’ve identified lots of properties and we’re working on them,” he says. “We continue to add to our portfolio through the covid crisis. Transactions are still happening, so it’s full steam ahead.” TNM

Haywood lifts gold price forecasts GOLD

BY NORTHERN MINER STAFF

H

aywood Securities has raised its gold price forecast for the second half of 2020 from US$1,650 per oz. to US$1,800 per ounce.

Next year, the broker-dealer predicts gold will average US$1,700 per oz., up from its earlier forecast of US$1,600 per oz., while 2022 should see the precious metal average US$1,650 per oz., up from an earlier estimate of US$1,550 per ounce.

“We maintain our view that gold is now in the early days of a new bull market and would not be surprised to see gold push through the old 2011 high of US$1,923 per oz. this year,” Haywood said in a July 9 research note.

At the same time, valuations “continue to be modest,” it notes, “with many stocks trading at multiples which are discounting gold prices well below spot prices.”

But Haywood says it is optimistic that valuations “will slowly start to improve as more generalists chase

| Broker-dealer predicts average price of US$1,700 per oz. in 2021

“WE MAINTAIN OUR VIEW THAT GOLD IS NOW IN THE EARLY DAYS OF A NEW BULL MARKET…” HAYWOOD SECURITIES

performance.”

“We believe that interest from the investor base will continue to broaden, and should focus on operational performance, balance sheet strength and execution history (in both operations and exploration environments), as well as now looking at growth potential of developing assets and asset portfolios within exploration through to producing companies. The importance of companies being able to deliver (get-on-base) remains paramount.”

In the mid-cap to junior gold producers, Haywood’s top picks are B2Gold (TSX: BTO; NYSE-AM: BTG), Equinox Gold (TSX: EQX;

Gold bars. BARRICK GOLD

NYSE-AM: EQX), K92 Mining (TSXV: KNT; US-OTC: KNTNF) and Roxgold (TSX: ROXG; US-OTC: ROGFF). Among the exploration and development-stage companies, it likes Liberty Gold (TSX: LGD; USOTC: LGDTF) and Osisko Mining (TSX: OSK).

Greater economic uncertainty due to the coronavirus pandemic and worries about longer-term inflation will continue to support lofty gold prices as investors seek safe-haven investments.

Given that trend, Haywood says, “there has been increased M&A activity and continued market consolidation where targets are progressively becoming smaller and less advanced in profile.”

“Continued consolidation gives rise to more focus on generating alpha in smaller, notionally higher risk equities than has been the focus since gold started to move over the last 18 or so months.” TNM

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 20–AUGUST 2, 2020

SURINAME F r om 1

acquired later the same year by its majority shareholder, Russian gold major Nordgold, in a deal valued at $28 million.

“When we were taken over by Nordgold Oscar called and said, ‘Now that you’ve got time, come down and look at what we’ve got in Suriname,’” North says. “This was an easy thing for me to do because I had been working in the West African shield for ten years prior to Pistol Bay and completely understood the Birimian rocks in West Africa as being exactly the same rocks as in the Guiana Shield.”

North flew down to Suriname’s capital, Paramaribo, rented a helicopter, and flew over the jungle to survey the area.

In the space of about ten minutes, the aircraft whisked North over the Rosebel and Merian mines and Louzada’s projects. “There were thousands of people in the jungle with excavators, pumps and sluices everywhere mining gold,” North remembers.

“There were people everywhere.”

“It’s a small country, but it’s captured one of these super-endowed regions, so any real estate in there is good,” he continues. “If you just drew a circle around Rosebel and Merian and called anything in that circle a gold environment, there are probably going to be another 20 million or maybe 30 million oz. found inside that circle.”

What’s more, you don’t have to be a “geological genius” to find a deposit there, he says, you just have to follow the artisanal miners – find out where they’re working and dig through the gravels and into the

79North’s Witlage Creek target at its Nassau project in Suriname. 79NORTH

saprolite and then drill below it.

Louzada’s company, Sumin N.V., could never raise enough money and more or less went bankrupt, North says. “When I looked at the situation, I completely agreed with them that Suriname needed a premier gold explorer, so we took them over.”

North acquired Louzada’s company in 2017 and with it 70% of the Nassau project (with an option to own 80%) in an all-share deal valued at about $712,000. He also inherited Sumin N.V.’s 27% stake in the Sandpiper concession, 30 km away.

North’s company, 79North (CNSX: TWLV), which listed in mid-June in a reverse takeover of a

shell called 12 Exploration, plans to become the first junior exploration company active in the prospective South American country.

The Nassau concession hosts two vast placer gold deposits and a smaller one, and they all surround a topographic feature called the Nassau plateau, North says. “The only conclusion you can arrive at is that the plateau is the source of the gold in the placers because it’s the high point.”

Mariana Resources spent about $1.5 million on exploration on the project when it was owned by Sumin N.V., he adds, before it was taken over by Sandstorm. “They did some very good science out there and they

recognized the plateau area was the source as well and did a bunch of auger holes and a number of them intersected gold. We’ve got the core and re-logged it, and it has beautiful alteration.”

Drill hole MNA-12 returned 8 metres of 1.34 ppm gold and MNA31 intersected 1 metre of 1.79 ppm, he says, adding that the drill campaign “defined a volcanic-sediment boundary and that boundary is where the gold is at Rosebel.”

“We would have done a completely different method of analysis on the auger core, but these are someone else’s results, and that’s what we have to work from.”

3

For North, Suriname’s Birimian rocks remind him of West Africa, where he spent ten years and where his company, North Atlantic Resources, discovered the FT gold deposit in Mali. The Guiana and West African Shields were adjacent prior to the breakup of the supercontinent Pangea, he explains.

But operating in Suriname, a country with a population of 500,000 and an area of just 163,270 sq. km, is easy compared with Africa, says North, who has worked in Burkina Faso, Cameroon, Chad, Guinea, Ivory Coast, Mali, Niger, Tanzania, Zambia and Zimbabwe.

“Everything works there,” he says of the former Dutch colony bordering the Atlantic Ocean between French Guiana and Guyana. “There is no malaria in the capital. No Al Qaeda. No kidnapping. Nobody molests you, and it’s perfectly safe.”

North plans to put the $4 million in 79North’s treasury to work once the airport reopens, after being shut down due to the coronavirus pandemic.

The first order of business will be to hire an aircraft and complete a LiDAR survey and geological and geochemical surveying. Diamond drilling should start within a year, he says, and the company is on the brink of announcing its first major acquisition.

“We have a big strategy for new acquisitions, and we are doing due diligence on half a dozen new projects now,” North says.“You’ve got to go where the opportunities are, and when we tried to name one junior company working in Suriname we couldn’t think of one, so we said, ‘Let’s be that one.’” TNM

JOINT VENTURE ARTICLE

Transforming the global market for scandium Imperial Mining Group is developing a potential new and reliable source of scandium that could disrupt current markets and expand the industrial uptake of this remarkable metal.

BY NORTHERN MINER STAFF Scandium is classed as a transition metal and rare earth element (REE) and readily alloys with aluminium to produce an alloy that is as strong as steel and titanium but weighs around one-third of steel and is about 40% lighter than titanium and costs ten times less to produce.

Scandium-aluminium alloys are also highly resistant to corrosion and offer enhanced weldability. The welding process can often be challenging for other high-performance aluminium alloys and usually requires costly repair to damaged alloy structures via heat treatment.

These properties, which can be realised with the addition of just 0.1% to 0.45% scandium, make scandiumaluminium alloys ideal for vital components in applications across the automotive, aerospace, defence, and many other industries.

For example, airplanes made from scandium-aluminium alloys are stronger, lighter, and more fuel-efficient, and they are critical to the light-weighting of components for car and truck chassis, and military armour.

They are also used in the motor housings and chassis components for electric vehicles to extend the battery range, and more recently, as a ceramic electrolyte in solid oxide fuel cells, where they lower operating temperatures and prolong the life of the cell.

Most scandium is produced today as a by-product of other mineral refining processes and comes in the form of an oxide, chloride, iodide, fluoride, and acetate. However, it is supplied mainly in the form of scandium oxide from China, with minor amounts from Russia, Ukraine, and the Philippines.

Scandium prices, which, according to

Drilling on the Crater Lake scandium-REE project in the winter of 2019. IMPERIAL MINING Scandium Investing News, can be as high as US$4,600 per kilogram for scandium oxide, have made its use as an aluminium alloying agent cost-prohibitive, and the constraints in supply have severely hampered its broader industrial adoption.

However, this could change as more reliable sources of scandium come online.

Imperial Mining (TSXV: IPG), a leading Canadian exploration and development company headquartered in Montreal, is at the vanguard of efforts to develop a sustainable source of scandium from its Crater Lake Scandium-REE property, located east of Schefferville in northeastern Quebec and approximately 95 km from the end of the Trans-Labrador Highway.

“The single biggest impediment to the broader uptake of scandium has been a

reliable and stable supply of scandium for manufacturers,” says Peter Cashin, founder, president, and CEO of Imperial.

“Our discussions with industry have shown just how extensive the market for scandium could be once a long-term, sustainable supply becomes available.”

Crater Lake, Cashin added, contains scandium, niobium, and tantalum at potentially significant and economically viable concentrations that could provide a sustainable source of high-purity, lowcost scandium.

The property straddles a 6-km diameter intrusive complex hosting deposits of high-grade scandium mineralization. Surface samples have returned grades of over 1,600 grams scandium per tonne, with drill core samples returning over 113.9 meters

Imperial workers logging drill core samples from Crater Lake. IMPERIAL MINING grading 310 grams scandium.

“The deposit has been modelled to extend to at least a kilometre from surface and has the potential to produce around 250,000 tonnes per year of highpurity, low-cost scandium oxide ore for a mine life of well over 20 years. It also has attractive preliminary financial returns on using a US$1,250 per kilogram scandium oxide price,” says Cashin.

Crater Lake also benefits from being situated close to three of the world’s top primary aluminium producers — Alcoa (NYSE: AA), Rio Tinto (NYSE: RIO; LSE: RIO), and Aluminerie Alouette, who collectively produce approximately 90% of Canadian and 60% of North American aluminium production — providing them with a potential local source of scandium for the production of these critical alloys.

“The producers will be able to feed scandium oxide directly into their conventional metal processes to create the aluminium alloys without any major changes to equipment or flowsheets,” says Phil Chataigneau, the company’s strategic marketing analyst. “So, for them, it’s a value-add product that doesn’t cost them any more to create the alloys.”

Imperial’s Crater Lake deposit could provide the company with a significant advantage over its competition and position it as a global leader in the supply of high-grade scandium and help to establish a stable and growing market for this critical commodity. n The preceding Joint-Venture Article is PROMOTED

CONTENT sponsored by IMPERIAL MINING and produced in cooperation with The Northern Miner.

Visit www.imperialmgp.com for more information.

4

WWW.NORTHERNMINER.COM

JULY 20–AUGUST 2, 2020 / THE NORTHERN MINER

E D I T O R IA L

GLOBAL MINING NEWS · SINCE 1915

www.northernminer.com

Conflict and chaos in the Sahel AFRICA

W

GROUP PUBLISHER/ PUBLISHER: Anthony Vaccaro, CFA, MBA av acr o@ nor th er nmi ner . co m EDITOR-IN-CHIEF: Trish Saywell, BA, MA, MSC (JOUR) tsay we ll@ nor th er nmi ner . co m SENIOR REPORTER: Carl A. Williams, BSC (HONOURS), MSC, PHD cwi lliams@ nor th er nmi ner . co m REPORTER: Magda Gardner, BASC (MINERAL ENG) mg ar dner @ nor th er nmi ner . co m STAFF REPORTER AND PRODUCTION EDITOR: Daniel Sekulich dsek ul ich @ nor th er nmi ner . co m ONLINE EDITOR AND PODCAST HOST: Adrian Pocobelli, MA (ENGL) ap oco be lli@ nor th er nmi ner . co m EDITOR, DIAMONDS IN CANADA: Alisha Hiyate, BA (POLI SCI, HIST) ah iy at e@ nor th er nmi ner . co m ADVERTISING: Joe Crofts ( 41 6 ) 51 0- 6 81 6 j rc of ts@ nor th er nmi ner . co m

mwi

Michael Winter ( 41 6 ) 51 0- 6 72 nter @ nor th er nmi ner . co m

SUBSCRIPTION SALES/ APPOINTMENT NOTICES/ CAREER ADS George Agelopoulos ( 41 6 ) 51 0- 51 04 ( T oll f r ee) 1 - 85023 456 , ex t. 4 3 7 20 g ag elop oul os@ nor th er nm iner . co m PRODUCTION MANAGER: Jessica Jubb ( 41 6 ) 51 0- 521 3 j j u b b @ g la ci er b iz inf o. co m CIRCULATION/CUSTOMER SERVICE: ( 403 ) 209 - 3 50 1 - 803 87- 246 nor th er nmi ner 2@ nor th er nm iner . co m REPUBLISHING: ( 41 6 ) 51 0- 6 76 8 mo liv eir a@ nor th er nmi ner . co m ADDRESSES: Toronto Head Office: Duncan M ill R oa d, Sui te 3 2 0 T or onto, ON, M 3 B 3 K 9 ( 41 6 ) 51 0- 6 789 tnm@ nor th er nm iner . co m 25

GS

SUBSCRIPTION RATES: Canada: C$ 1 20 .0 one y ea r ; 5% G.ST . to CD N or der s.

7% P .S T . to BC or der s 1 3 % H .ST . to O N , NL or der s 1 4% H .S T . to P E I or der s 1 5% H .S T . to N B, NS or der s U.S.A.: US$ 1 20 .0 one y ea r Foreign: US$ 1 57 .0 one y ea r T R eg istr a tion # 809 7 4 4 07 1 R T 01 ( ISN 029 -3 16 4 ) CANADA POST: R etur n unde liv er a b le Ca adi n an a ddr esses to Ci r cul at ion D ep t. c/ o T h e No r th er n M iner 2 2 5 Dunca n M ill R oad, Sui te 3 2 0 T or onto, ON M 3 B 3 K 9

P ubl

U .S o

icat

ion M a il A g r eem ent #4

06

| Region is now one of the most insecure places in the world

9 2 4 0

P er iodic a ls P osta g e R a tes p a id a t Ni ag ar a F al ls, NY , 1 43 04 . f f ice of p ubl icat ion 24 N ia g a r a F a lls Bl v d, Ni ag ar a F al ls, N. Y . 1 4 3 04 .

U.S. POSTMASTER: send addr ess co r r ect ions to: No r th er n M iner Bo x 1 1 1 8 Ni ag ar a F al ls, N. Y . 1 43 0 4 . - 7 1 1 8

THE NORTHERN MINER is published biweekly by Glacier Resource Innovation Group, a division of Glacier Media Inc., a leading Canadian media company with interests in business-to-business information services.

From time to time we make our subscription list available to select companies and organizations whose products or services may interest you. If you do not wish your contact information to be made available, please contact us by one of the following methods: Phone: 1-888-502-3456; Fax: (416) 447-7658; Mail to: Privacy Officer, The Northern Miner, 225 Duncan Mill Road, Suite 320, Toronto, ON M3B 3K9.

hen I was interviewing Jon North, the founder and CEO of 79North (CNSX: TWLV), about his exploration projects in Suriname, a small country at the top of South America, he told me about the many years he had spent working in West Africa and around the Sahel region – the semiarid belt south

BY TRISH SAYWELL of the Sahara stretching from Senegal to Sudan. tsaywell@northernminer.com From the time he started working on the continent with his former companies North Atlantic Resources and Northquest in 2002, until he left to pursue a project in the Canadian Arctic in 2010, North travelled widely in the Sahel region, crisscrossing Burkina Faso, Chad, Mali, and Niger in pursuit of various exploration prospects.

In one anecdote from 2004, North described hiring a local Tuareg man who owned a land cruiser and getting permission from local authorities in northern Niger to drive around in the Sahara looking at rocks in the uranium-producing area around Arlit and Agadez. But he says those times are long gone. “You would be so kidnapped and killed so fast now,” he says.

“It would be out of the question now, you can’t do that.”

North also recalled the 2008 kidnapping in Niger of Canadian diplomat Robert Fowler. “It was not far from the capital Niamey, and I know exactly where they picked him up, near a ferry crossing of the Niger River,” North says. “He wrote a book, A Season in Hell, that pretty much says everything about that part of the world.”

My discussion with North prompted me to take a closer look at security in the region over the last year and see just how unstable it has become.

The news doesn’t appear good. Security is deteriorating with the spread of jihadist groups and militant factions including Islamic State and al Qaeda battling for supremacy in Burkina Faso, Mali and Niger.

The most powerful militant groups are Islamic State in the Greater Sahara (ISGS) and Jama’at Nusrat al-Islam wal Muslimin (JNIM), part of the al Qaeda consortium, and their victims include just about everyone — from tribal leaders and villagers to other civilians, civil servants and soldiers. It doesn’t help that some state security forces have also been accused of human rights abuses.

“People aren’t paying enough attention, but the Sahel is now one of the most insecure places in the world,” Caleb Weiss, an analyst at the Foundation for Defense of Democracies, a research institute in Washington, D.C., told The Wall Street Journal in June.

The newspaper quoted figures from the Africa Center for Strategic Studies, part of the U.S. Defence Department, which documented nearly 1,000 separate attacks in Burkina Faso, Mali and Niger in the year ended March 31. During that period strikes by al Qaeda factions jumped 55% year-onyear and those by the Islamic State by 120%, it said. The group also reported that more than 1 million people have fled the violence, most from Burkina Faso, fuelling Africa’s already dire refugee crisis.

According to the International Crisis Group in a report published on their website in June, the Islamic State’s Sahel affiliate “is at present the most potent security threat in Niger, if not the region,” and the group’s leadership “has proven expert at mobilising local communities to their side, using the border zone between Niger and Mali as an important recruiting ground to bolster their forces.”

In March, a former finance minister in Mali, Soumaila Cisse, was kidnapped while campaigning for president near his hometown of Timbuktu.

Although no group has claimed responsibility for his abduction, he was seized in an area controlled by the Macina Liberation Front, an al Qaedalinked militia, news agencies report.

In February, The Wall Street Journal reported that volunteers from the Peace Corps “are no longer allowed to serve in Burkina Faso, Niger or Mali because of security concerns,” and at a summit hosted by France in mid-January, governments from the Sahel called for strengthening military capabilities and targeting the Islamic State in the Sahel as a priority.

France – one of the region’s former colonial powers – already has roughly 5,000 troops in the area and along with forces from the United Nations is trying to keep the peace, while the U.S. under President Donald Trump reviews its troop commitments to the continent.

As governments the world over grapple with the coronavirus pandemic and its economic fallout, many Africa experts warn that the violence may escalate as militant groups press to take advantage of the chaos. News agencies reported in June that an al Qaeda-linked group killed ten soldiers in Cote d’Ivoire, the first strike in that country since 2016.

But using armed force to contain the threat is just one part of the solution.

To help stem the violence and prevent further inroads by extremist groups, observers say, governments must address the socio-economic grievances that plague the region including poverty, state corruption, and a lack of education, all of which terrorist groups try to exploit. TNM

DEPARTMENTS Editorial . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Metal Prices . . . . . . . . . . . . . . . . . . . . . . . 19

Professional Directory . . . . . . . . . . . . . . 17 Stock Tables . . . . . . . . . . . . . . . . . . . . 18-23

Rising gold price and reserve depletion to drive M&A, Bank of America says M&A

| Investment climate seen as a buyer’s market for companies

BY NORTHERN MINER STAFF

T

he total transaction value of mergers and acquisitions in the second quarter of the year reached US$2.86 billion in twelve deals, with Chinese buyers acquiring gold assets and smaller companies joining forces to become mid-tier producers, Bank of America Securities says in a new report.

The investment bank notes that the 12 transactions represented the highest quarterly total since the fourth quarter of 2012, and the dollar value was nearly double that seen in M&A deals during the first quarter of 2020.

It also pointed out that one of the trends in the second quarter was the preference for assets already in production or nearly in production.

“Six of the twelve transactions in Q2’20 were for assets currently in production,” the report states.

Describing the current investment climate as a “buyer’s market for companies,” BofA notes that five of the transactions with reserves that took place in the second quarter of the year “were priced at a 23% discount to the prevailing gold price, below the historical range of -20% to +10%.”

“The data indicates that H1’20 was one of the best periods to be a buyer of gold companies, mines and projects,” the bank concludes.

“For gold company transactions, acquisition prices, relative to the prevailing gold price, were on average at the lowest level since 2011 and the second-lowest since 1998.”

The bank also points out that “megaprojects are back in vogue,” citing Artemis Gold’s $190 million cash acquisition of New Gold’s Blackwater project in British Columbia, one of the largest open-pit gold deposits in Canada, which has “added over US$200 million of new market value” to the buyer. “This may put the spotlight back on companies sitting on multi-million oz. lowgrade gold megaprojects.”

In addition, of the 12 deals in the second quarter, seven had reserves and five had resources-only. “The ‘elephant in the room’ was SSR Mining’s friendly US$1.71 billion all-share merger with Alacer Gold on May 11, 2020,” it states, which has created a +600,000 oz. gold producer. “The remaining eleven transactions ranged in size from US$27 million to US$238 million.

The global senior producers were absent from the M&A circus in Q2’20.”

Moreover, only half of the Q2

transactions were in mining-friendly jurisdictions (Canada, Australia and Ghana), illustrating that “political stability [was] less important in Q2’20.”

The M&A deal flow is unlikely to slow in the second half of the year, the bank forecasts, with higher gold prices and the need to replenish reserves.

“For the H2 2020, the need to replace reserves mined in 2020 plus the higher gold price will be catalysts to drive further M&A,” BofA comments in its July 9 report. “After years of underinvestment, we see production profiles under pressure and reserves in decline. The evidence is too obvious to ignore ... At year-end 2019 total gold reserves for the global gold producers amounted to 612 million oz., down 30% from the peak of 875 million oz. at year-end 2012, equating to declining reserve life indexes.”

It predicts that with gold cresting US$1,750 per oz., the result will be “windfall free cash flows and expanding valuation multiples” that will look a lot like the period of record M&A between 2010 and 2013. Midtier producers that don’t do deals, it reasons, “risk being ‘left behind’ by their rapidly growing peers.”

“An unintended consequence of non-core asset sales by senior gold producers (post the mega-mergers in late 2018-early 2019) has led to a burgeoning ‘senior’ mid-tier producer sector marked by gold output in the 1.0-1.75 million oz. range,” the report states. “These larger more liquid producers are coming to the attention of global gold investors (likely at the expense of the smaller mid-tier gold producers [0.5-1.0 million oz.].”

The bank lists eight companies that are mid-tier producers that have “intriguing” mines and or development projects: Pretium Resources, Victoria Gold, Torex Gold, Wesdome Gold Mines, New Gold, Lundin Gold, Teranga Gold and Perseus Mining.

On the exploration and development front, BofA says its list of companies with interesting assets contains: Gold Road Resources, Osisko Mining, Rubicon Minerals (now Battle North Gold), Great Bear Resources, Gold Standard, Orla Mining, Sabina Gold & Silver, Marathon Gold, Okio Resources, International Tower Hill, Novagold, INV Metals, Premier Gold, MAG Silver, Midas Gold, Algold Resources, Eastmain Resources, West African Resources, Belo Sun Mining, Artemis Gold and Sirios Resources.

One thing that might slow M&A down, BofA says, is the inability of companies to conduct site visits of potential acquisitions during the pandemic. As a result, “acquirers excelling at ‘desktop’ analysis of assets could find an ‘edge’ over their competitors.” TNM

COMPANY INDEX 79North . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,3 Agnico Eagle Mines. . . . . . . . . . . . . . . . . . .1 Alamos Gold. . . . . . . . . . . . . . . . . . . . . . . 14 Alcoa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Alexco Resource. . . . . . . . . . . . . . . . . . . 6,16 Anglo American. . . . . . . . . . . . . . . . . . . . . .5 Antofagasta . . . . . . . . . . . . . . . . . . . . . . . . . .9 Auxico Resources . . . . . . . . . . . . . . . . . . 11 Avalon Advanced Materials . . . . . . . . . . 11 B2Gold. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 Baffinland Iron Mines . . . . . . . . . . . . . . . . .2 Barrick Gold . . . . . . . . . . . . . . . . . . . . . 5,15 Battle North Gold . . . . . . . . . . . . . . . . . . . .8 BHP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 Centerra Gold. . . . . . . . . . . . . . . . . . . . . . . .6 Energy Fuels . . . . . . . . . . . . . . . . . . . . . . . 13 Equinox Gold . . . . . . . . . . . . . . . . . . . . . . . .8 Fireweed Zinc . . . . . . . . . . . . . . . . . . . . . 6,16 First Cobalt . . . . . . . . . . . . . . . . . . . . . . 11,12 Freeport McMoRan . . . . . . . . . . . . . . . . . . .5 Freeport Resources . . . . . . . . . . . . . . . . . 12 Frontier Lithium . . . . . . . . . . . . . . . . . . . 12 Galaxy Resources . . . . . . . . . . . . . . . . . . . 10 GoviEx Uranium . . . . . . . . . . . . . . . . . . . 15 Glencore . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 Gold Fields . . . . . . . . . . . . . . . . . . . . . . . . . .6

Grid Metals . . . . . . . . . . . . . . . . . . . . . . . . 12 Iamgold . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 Impala Platinum . . . . . . . . . . . . . . . . . . . 12 Imperial Mining . . . . . . . . . . . . . . . . . . . . . .3 Ivanhoe Mines . . . . . . . . . . . . . . . . . . . . . . .1 K92 Mining . . . . . . . . . . . . . . . . . . . . . . . . . .8 Kincora Copper . . . . . . . . . . . . . . . . . . . . 10 KoBold Metals . . . . . . . . . . . . . . . . . . . . . 1,2 Liberty Gold . . . . . . . . . . . . . . . . . . . . . . . . .8 Newcrest Mining . . . . . . . . . . . . . . . . . . . . .5 Newmont. . . . . . . . . . . . . . . . . . . . . . . . . . . .1 Osisko Mining . . . . . . . . . . . . . . . . . . . . . . .8 Rio Tinto . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Rockhaven Resources . . . . . . . . . . . . . . . 14 Roxgold . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 Sabina Gold & Silver . . . . . . . . . . . . . . . . 16 ScoZinc Mining . . . . . . . . . . . . . . . . . . . . 15 Skeena Resources . . . . . . . . . . . . . . . . . . . 15 Spanish Mountain Gold . . . . . . . . . . . . . 12 SRG Mining . . . . . . . . . . . . . . . . . . . . . . . 12 Strategic Metals . . . . . . . . . . . . . . . . . . . 6,16 Teck Resources . . . . . . . . . . . . . . . . . . . . . . .5 Twin Metals Minnesota . . . . . . . . . . . . . . .9 Victoria Gold . . . . . . . . . . . . . . . . . . . . . . . .8 Western Copper and Gold . . . . . . . . . . 6,16 Western Magnesium . . . . . . . . . . . . . . . . 12

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 20–AUGUST 2, 2020

5

Chile struggles to maintain copper production as coronavirus spreads among workers COVID-19

| Government extends state of emergency until September

BY TOM AZZOPARDI

Special to The Northern Miner

W

orkers at Chile’s giant copper mines are caught between the urge to protect themselves and pressure to keep the country’s economy moving.

Since declaring a state of emergency in March to deal with the Covid-19 pandemic, the Chilean government has tried to maintain a difficult balance between slowing the spread of the disease and shielding the economy through the inevitable downturn.

Mining companies, the backbone of the economy, were urged to keep producing while taking drastic measures to reduce the risk of infections for employees.

As well as distributing facemasks and alcohol gel and disinfecting worksites, companies have sought to ensure social distancing by dramatically reducing personnel on site, largely by suspending activities not essential to production, such as mine development, exploration and maintenance.

Work on major projects, such as Teck Resource’s (TSX: TECK.B; NYSE: TECK) Quebrada Blanca 2 and an expansion of Antofagasta’s Los Pelambres mine, was halted for several weeks while sanitary measures were worked out.

By July, the number of mineworkers on site in the country had fallen to 123,000, down 45% from the start of the year, Mining Minister Baldo Prokurica told lawmakers on July 6.

Despite the massive reduction in personnel, mine output appears so far to be holding up. Copper production during the first five months of the year hit 2.4 million tonnes, up 3.5% from last year, largely reflecting the impact of flooding and maintenance shutdowns on output during the early part of 2019.

Data produced by the Chilean Copper Commission (Cochilco), a government agency, showed that production has risen at most mines this year. Only Anglo American (LSE: AAL), among the country’s leading producers, has reported a steep fall, down 17.9% year on year in the first five months of the year, reflecting a water shortage at its Los Bronces operation.

By the end of 2020, the government estimates Chile’s annual copper production will fall by 200,000 tonnes from last year’s output of 5.8 million tonnes.

“At least until two weeks ago the industry appeared to have achieved a good balance between health and economic concerns,” says Juan Carlos Guajardo, head of Santiago-based industry consultancy PlusMining.

However, since mid-June a rise in the number of infections among mineworkers has put Chile’s strategy under severe strain.

From a couple of hundred in May, the number of workers infected with the disease is now fast approaching 5,000, or more than 2% of the total workforce. Some clusters are reaching alarming levels. In the O’Higgins Region, home to the giant El Teniente mine, more than 6% of miners have been infected, according to ministry data.

The situation in the mining industry mirrors the development of the pandemic nationally.

President Sebastián Piñera had

Bucket wheel excavator at BHP’s Spence open pit mine in northern Chile. BHP

been preparing to reopen schools and shopping malls before the number of new cases reported daily jumped from a few hundred in April to a few thousand by mid-May. Instead, strict lockdowns were quickly imposed across Santiago and other major cities and the 90-day state of emergency has now been extended until September.

With reports of the first deaths of mineworkers from the disease (twelve have died so far, according to the Mining Ministry), unions began demanding management and government take more drastic measures to protect members from infection or risk workers walking out.

“If there are operations which cannot meet the minimum legal standards, then they must be closed,” Patricio Elgueta, the top union official at state-owned mining firm Codelco, told The Northern Miner.

Fearing an acceleration of the outbreak and wildcat stoppages, mining companies have stepped up their efforts to slow the rate of infection.

Since June, Codelco has halted all construction projects at its operations in northern Chile, including the new underground mine at Chuquicamata and shut the smelter at the mine. It has also pledged to use only local staff at the complex.

At El Teniente, Codelco’s largest by production, the company has switched to a 14 days on-14 days off shift cycle, giving more time for sick workers to be identified before they return to work.

Construction of the new mine level, a multibillion-dollar investment vital for sustaining output for decades to come, has also been suspended.

Multinationals have followed suit.

BHP (NYSE: BHP; LSE: BHP) has announced that workers at its Spence mine would no longer move through the Calama airport, which normally handles thousands of fly-in, fly-out mineworkers every week.

Such measures show that Codelco and other mining companies are putting the health of their workers above all other considerations, says Cochilco’s executive vice-president, Marco Riveros.

As the number of cases continues to climb, the industry is now praying that its latest measures will be sufficient to keep a lid on the pandemic.

“If they manage to get through the next two to three weeks, they will be in a much better position to maintain production at these levels.” explains Erik Heimlich, a Santiago-based analyst at CRU Group.

But if the number of deaths keep rising or local health services struggle to cope, then more radical measures could be required. Copper prices

have scaled to six-month highs above US$2.80 a pound on fears that efforts could disrupt supplies from the world’s largest producer.

The key will be convincing workers to keep clocking in.

In recent statements, Codelco has appealed to workers’ patriotism, arguing that its profits are vital for funding Chile’s fight against the pan-

demic and reviving the economy in its aftermath.

After Chile’s economy contracted by an unprecedented 14% year-onyear in April, Central Bank president Mario Marcel highlighted that the carnage had been much worse in neighbouring Peru, where the majority of mines had been shut.

Already working longer shifts and doubling for colleagues, mineworkers feel under pressure.

“We know we are the backbone of the Chilean economy,” says union boss Elgueta, “but it cannot be at any cost.”

Unions accuse companies of taking advantage of the crisis to slash almost 40,000 jobs since the start of the year.

While Freeport McMoRan (NYSE: FCX) has slowed output at its El Abra mine, BHP has begun winding down its Cerro Colorado mine, which is set to close in 2023, and launched a new early retirement scheme for workers at the giant Escondida mine, the world’s biggest.

“Our workers are afraid of getting ill but also of losing their job. The level of stress among the workers is alarming,” says Elgueta.

Lower output could also hit mineworkers’ productivity bonuses, a big part of worker income at some operations.

Hoping to calm tensions, Mining Minister Baldo Prokurica called this week on mining companies “to do everything possible” to prevent more cuts, noting that the industry is faring much better than the rest of the economy.

Whether or not the industry survives the coming months without a major shutdown, the impact of the pandemic will continue to be felt over the coming quarters even as mines return to normal, says Cesar Perez, head of equity at investment bank BTG Pactual.

The suspension of development and maintenance work, high grading in some mines and delays to construction projects, such as the new concentrator at Spence, is expected to weigh on production next year.

“Whatever a mine’s capacity was last year is not going to be its 2021 capacity,” commented Colin Hamilton, a managing director at BMO Capital Markets. TNM

xceptional xploration

xcellence xpression xact xtraordinary xperts xcel xtra xperienced xecutives

xplorer xhilarating xcavation xamine

xert

GOLD CORP

Eagle Gold Mine COMMERCIAL PRODUCTION ACHIEVED

210,000 oz Au per year for 11+ years

TSX VGCX | VGCX.COM

6

WWW.NORTHERNMINER.COM

JULY 20–AUGUST 2, 2020 / THE NORTHERN MINER

SRK panel discusses mine closure at Canadian Mining Symposium CMS

| Experts talk about the transition to a post-mining economy

BY CARL A. WILLIAMS cwilliams@northernminer.com

P

art of The Northern Miner’s Canadian Mining Symposium held online in mid-June was a thought leadership panel that looked at the social impact of mine closures.

The discussion, entitled Beginning at the End: How Can We Optimize the Socio-economic Legacy of Mine Closure, centred on how a community, region, or country can successfully transition from a mining economy to a post-mining economy.

Jeff Parshley, group chairman and practice leader at SRK Consulting, led the panel. He was joined by Boubacar Bocoum, a leading mining specialist from the World Bank, Kevin P.C.J. D’Souza, Centerra Gold’s (TSX: CG) vice president of security, sustainability, and environment, and Charlene Wrigley, group sustainable development manager with Gold Fields (NYSE: GFI).

“We’ve made considerable progress in the technical aspects of mine closures,” Parshley said. “Although the socio-economic impacts of mine closures have been required for decades in several jurisdictions, it wasn’t until the publication of the Mining and Minerals Sustainable Project report, in 2002, that the socio-economic impacts of mine closures were raised.”

The release in 2008 of the International Council of Mining and Metals’ (ICMM) mine closure tool kit, he noted, also increased awareness of the key concepts behind the social closure of mines, with its revised Integrated Mine Closure: Good Practice Guide, published in 2019, providing a more descriptive term for what the industry has been trying to express for the past couple of decades by describing it as ‘socio-economic transitioning.’

Parshley asked the panellists what they would consider to be the critical requirements of a good mine closure governance framework.

“As we learn more about integrated mine closure planning and practices our approach has moved from a physical approach to a more socioeconomic approach,” Goldfield’s Wrigley said. “We realised the im-

The SRK Thought Leadership Panel at the Canadian Mining Symposium on Zoom. Clockwise from top left: Moderator Jeff Parshley, group chairman and practice leader at SRK Consulting; Boubacar Bocoum, World Bank mining specialist; Charlene Wrigley, group sustainable development manager with Gold Fields; and Kevin P.C.J. D’Souza, Centerra Gold’s vice president of security, sustainability, and environment

portance of good communication and engaging with all stakeholders, including government, host communities, employees, and even shareholders.”

It was also important, she said, to consider all stakeholders and ensure that communities become more selfsufficient and less dependent on mining companies by the time they transition or mine closure occurs.

Bocoum from the World Bank pointed to key elements that should be considered when starting a mine closure plan, “including the costing of the plan, the plan’s veracity, landuse issues following the mine closure, and clarity around the methodology and practices adopted in the plan.”

Centerra Gold’s D’Souza noted that a mine closure plan should be worked out at the beginning of the project and should be agreed upon by all stakeholders, particularly the future custodians of the land.

Much of Bocoum’s work with the World Bank has involved working with developing nations and Parshley

asked him to outline what the biggest concerns are for host governments.

“One key element is the sustainability dimension,” Bocoum said, “and the need to emphasise the sustainable development aspects of mine closures rather than just the environmental side, which has traditionally been the approach.”

The conversation then turned to the experiences that Bocoum and D’Souza have had working in the states of the former Soviet Union and how companies there have approached mine closure planning.

Bocoum noted that many of the cities in those states were built around the mines, which led to unique challenges when the mines were closed, making the socio-economic issues even more prevalent.

“It’s perhaps the negative social and environmental legacy of abandoned mines, especially from abandoned uranium mine tailings, that are the biggest concerns for some of these states,” added D’Souza.

Although there has been considerable improvement in the last few decades factoring in mine closure plans at the very beginning of a project, one challenge, D’Souza noted, is that often communities in the vicinity of mines, “simply don’t want to hear anything about mine closure and is a very sensitive subject to bring up too early on in the process.” Still, he said, companies have a responsibility to address the issues earlier in the process, and that “interactive consultation and planning process approach for understanding land use should be adopted from day one.”

Wrigley pointed out that the industry is getting better and that many of the elements of mine closure were starting to be considered at the beginning of a project, citing the co-disposal of waste, and final landforms, such as landscapes that meet agreed-upon land use goals, as two examples.

The panel also talked about postmining land use and, in accordance with good practice guidelines, the

need for the mine site to be beneficial and sustainable for the affected communities in the long-term.

Wrigley noted that there are “biophysical considerations around postmining land uses,” and that “there are several scientific and engineering tools to help companies understand what the land could be used for once mining ceases.”

From a socio-economic perspective, Wrigley said, “one of the most important tools were the people, who will often give a very clear idea of their expectations.”

Boucoum also noted that multilateral non-governmental organisations (NGOs) can also be useful in helping to catalyse post-closure planning and activities.

Parshley then referenced responses from the audience, which were polled on whether they felt the mining industry was effective in collaborating with stakeholders to develop mine closure strategies and post-mine closure land uses.

About 50% of those who responded believe that the industry is “moderately good,” with the other half stating that it was “not very good,” and Parshley noted that this response reflected the opinion of the panel, too.

The conversation closed with the panel discussing the impact of the loss of mining jobs once a mine has closed, given that mining salaries nearly always exceed national average salaries for many countries.

“This is where the focus of the sustainable development plans must be,” D’Souza said, “to ensure that social investments are not just philanthropic but focus on economically sustainable projects.”

Job replacement and an alternative economy is “not a silver bullet,” Wrigley added, and “although it’s a fantastic aspiration,” these cannot easily be achieved, she said.

Furthermore, she added, mining companies must ensure that the communities in which they operate are less dependent on mining activities and more self-sufficient after mining has ceased. These goals must be factored in during the mine closure planning process. TNM

The Yukon is open for business, CMS panel says CMS

BY CARL A. WILLIAMS

T

cwilliams@northernminer.com

he Canadian Mining Symposium closed with a panel discussion featuring the Hon. Ranj Pillai, Deputy Premier, Minister of Energy, Mines and Resources and Minister of Economic Development for the Government of Yukon, and chief executives from Strategic Metals (TSXV: SMD), Alexco Resource (TSX: AXR; NYSE-MKT: AXU) and Western Copper and Gold (TSX: WRN; NYSE-MKT: WRN).

Deputy Premier Pillai kicked off the panel acknowledging he was dialling in from the traditional territory of the Kwanlin Dun First Nation and the Ta’an Kwach’an Council, and said mining continues to be a key industry for the Yukon.

He talked about the Yukon’s

| Discussion looks at political and regulatory risks companies face

world-class deposits and abundant mineral potential, and its competitive regulatory regime. He also drew attention to the territory’s support for early-stage exploration through the Yukon Mineral Exploration Program, which helps to shoulder a portion of the risk capital involved in exploration and development.

“We recently announced that we increased our funding to $2.5 million, which is the most we’ve put towards this program,” Pillai said.

The extra funding, he added, was in recognition of the disruptions caused by the Covid-19 outbreak.

The Yukon government is also working on a new transmission line that would “benefit some of his fellow panelists,” he said, and $500 million in funding for new strategic infrastructure, including energy technologies like microgeneration,

that will benefit companies operating in the territory.

“We also continue to work on our $500 million portfolio around the Yukon Resource Gateway projects that will help people, particularly in the northwest part of the Yukon as well as those in the southeast,” he continued, adding that an agreement has been signed with the Little Salmon Carmacks First Nation on the first phase of work on the Yukon Resource Gateway project. The project aims to upgrade existing road infrastructure in the territory and provide more reliable access to mineral-rich areas.

Pillai also pointed to a $71 million agreement signed with the River Ross Dene Council First Nation in March, which will upgrade roads around Fireweed Zinc’s (TSXV: FWZ) Macmillan Pass project, in-

cluding bridge replacement and safety improvements on the North Canol Road and the resurfacing of 60 km of the Robert Campbell Highway.

“We continue to ensure that we have strong government-to-government relations with the First Nation people,” Pillai said. “You have to be at the table with your partners, and it’s something that we continue to focus on.”

Clynton Nauman, chairman and CEO of Alexco Resource, then talked about the company’s Keno Hill Silver district, around 350 km north of Whitehorse in the traditional territory of the Na-Cho Nyak Dun First Nation.

“We are advancing the project to renewed silver production and will produce around 4 million oz. silver per year once it reaches its

designed capacity of 400 tonnes per day through an existing mill,” Nauman said.

Alexco has been working on the final permit assessment and authorization required to proceed to production. “Since 2019, we’ve been advancing key infrastructure at site, which once the water license is issued will allow us to produce our first concentrate in quarter four of this year, with plans to reach full capacity in the first quarter of 2021,” he told the panel.

He concluded by noting that Alexco is one of the few companies in the world that has an average grade of more than 800 grams silver per tonne.

Douglas Eaton, president and CEO of Strategic Metals, then updated the Se e CMS / 16

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 20–AUGUST 2, 2020

7

Baffinland Iron Mines and Inuit association strike landmark agreement NUNAVUT

| Deal includes a substantial royalty increase “OUR GOAL IS TO GET AS MANY INUIT AS POSSIBLE WORKING AT MARY RIVER.” BRIAN PENNEY PRESIDENT AND CEO, BAFFINLAND IRON MINES

An aerial view of Baffinland Iron Mines’ deposit 1 at the Mary River mine.

BAFFINLAND IRON MINES.

BY KELSEY ROLFE

A

Special to The Northern Miner

new multimillion-dollar agreement between Baffinland Iron Mines and the Qikiqtani Inuit Association (QIA) that includes a substantial royalty increase, Inuit oversight of environmental monitoring and direct community benefits may have set a new standard for Indigenous involvement in mining projects.

The parties’ Inuit Certainty Agreement (ICA) will see the QIA’s royalties from Baffinland’s Mary River iron ore mine on Baffin Island in Nunavut increase from 1.19% currently to 1.5% once the mine’s expansion is operational, and eventually to 3% over a five-year period.

Local Inuit communities will have substantial say in the mine’s operations under the agreement, with new oversight responsibilities of Mary River’s environmental impacts on land use and harvesting, as well as potential changes to community life — such as food sources and security.

The monitoring program will contain specific thresholds with actions for Baffinland to take if they’re exceeded.

The Inuit oversight committee will also ensure Inuit Qaujimajatuqangit, or traditional knowledge, is respected and incorporated into the project.

The agreement will see Baffinland make a one-time $1.3-million payment to the Mittimatalik Hunters and Trappers Organization in Pond Inlet to compensate for changes to their hunting experience over the mine’s life. It also gives the QIA the ability to identify water bodies affected by Mary River and determine compensation amounts for the communities under an existing water compensation agreement.

“To our knowledge there’s very minimal, if even any, agreements where an Indigenous organization has that capability, in terms of influence,” said QIA president P.J. Akeeagok in an interview with The Northern Miner. “It’s right to the core of the operations of the company. Obviously [Baffinland does] have the license to operate, that’s why they’re there, but that ability for Inuit knowledge to be incorporated into the operations of the mine is significant.”

Akeeagok said the 34 schedules in the agreement are “echoes” of what the QIA heard over several years of community consultations, with environmental monitoring being the most important piece. “Inuit for many years have been seeking to really own that space in terms

of research and playing a key role in monitoring,” he said. “When we started discussions with Baffinland in terms of the ICA, the focal point was how can we put Inuit in the driver’s seat of the project.”

The agreement provides a “huge shift” in Inuit employment targets, Akeeagok noted, and Baffinland will compensate local communities if it fails to meet those requirements. Inuit employment targets were previously reviewed on a yearly basis, but will now be based on three-year goals, such as hours of Inuit work, wages paid to Inuit or number of Inuit who participated in Baffinland training programs. Baffinland also agreed to make a one-time $400,000 payment to the QIA for “past Inuit requirement content issues” which will be distributed to communities.

The company – jointly owned by Nunavut Iron Ore and steel giant ArcelorMittal – has also committed to providing a childcare subsidy to Inuit employees of $19 per day for each child under the age of 14. It will also provide up to $15 million to build five daycare centres in communities near the mine.

“We were focused not only on community development but the levers and mechanisms we can use to help improve our employment levels at Baffinland,” Brian Penney, Baffinland’s president and CEO, told The Northern Miner. “Our goal is to get as many Inuit as possible working at Mary River. In doing so, you need the proper infrastructure for training and skills development, but also household support. That fits with our vision of where we wanted to go. It was brought up by the QIA but we 100% supported it.”

Baffinland is currently seeking an amendment to its project certificate for Mary River’s second phase, which would see iron ore production double, increased shipping and the development of a 110-kilometre rail line from the mine to the company’s Milne Inlet port in the northern part of the island.

The operation currently uses trucks to get its iron ore to port. Mary River began mining and transporting ore in October 2014.

Many of the benefits in the agreement are contingent on the approval of phase two. “We are a bulk commodity, and there’s very few bulk commodity [operations] in the world with a trucking operation greater than 100 kilometres,” Penney said. “We need to complete the environmental assessment process and start that transition [to a railway] as soon as possible because only after that do

we generate the revenues and the income necessary to generate those benefits.”

In November 2019, the Nunavut Impact Review Board’s (NIRB) public hearings on the expansion were halted after multiple interveners highlighted concerns with the rail line’s potential impacts on caribou and a lack of community consultation. Hearings were expected to resume in the spring, but were delayed further due to the pandemic.

The pause allowed Baffinland to work “really seriously” with the QIA since mid-February to address community concerns, and the agreement emerged from those talks, Penney said.

Community members previously expressed concern that Baffinland’s chosen railway path wouldn’t be passable for caribou. The agreement committed Baffinland to adopt a new route Inuit were more comfortable with, and bear the costs of any technical challenges associated with

making the change.

“We are going to build that specific route and not going back to the original route listed in the permit application for the public hearing,” Penney said. “We believe [it addresses concerns from the public hearing] and we’re continuing to work with communities on that. As well, we’re committing to monitoring programs and adaptive management plan as well that, should there be an impact on caribou, there’s potentially other options we could put in place to address [that].”

Penney said he believes the ICA largely removes the risks associated with permitting the expansion, but the company will still need to wait for approval from the NIRB. TNM

Porgera mine dispute escalates for Barrick, Zijin PAPUA NEW GUINEA

| Government refuses to renew mining licence

Barrick Gold’s 47.5%-owned Porgera gold mine in Papua New Guinea. BARRICK GOLD

BY CECILIA JAMASMIE

B

Mining.com

arrick Gold (TSX: ABX; NYSE: GOLD) has served a dispute notice to the Papua New Guinea (PNG) government over the country’s refusal to renew a licence for the Porgera mine.

The world’s second-largest gold producer says that PNG’s decision to reject the application for the lease extension violated a bilateral investment treaty between the country and Australia, as well as international law governing foreign investment.

Barrick and its Chinese partner, Zijin Mining, temporarily halted operations at the mine in Enga province in late April. The move followed Prime Minister James Marape’s refusal to renew Porgera’s permit on environmental and social concerns.

The Toronto-based miner noted the rejection was publicly announced without notifying the mine manager, Barrick Niugini Limited (BNL), or following appropriate processes.

In May, the gold giant offered an extra 15% stake in the Porgera mine to local landowners, in a fresh attempt to break the impasse with the government over the mine’s future.

PNG later threatened Barrick with criminal proceedings, claiming the company’s joint venture in the country was planning to illegally export US$13 million in gold and silver to Australia. BNL refuted the allegations.

The ongoing dispute has done to Barrick what the pandemic did not — dent its expected output for the

year. It now expects to produce between 4.6 million and 5 million oz. gold this year — 200,000 oz. lower than its previous estimate.

Barrick revealed at the time that PNG was also asking the company and Zijin to pay US$191 million in back taxes arising from tax audits conducted between 2006 and 2015.

Mark Bristow, Barrick’s president and CEO, said in March that Porgera had “tier one potential” but faced many challenges in the form of “legacy issues and an unruly neighbourhood.”

The gold mine, located in PNG’s northern highlands region, is a joint venture between Barrick and Zijin Mining. Each owns 47.5% of the mine, with the remaining 5% held by landowner group Mineral Resources Enga.

Porgera contributes about 10% of the nation’s exports and employs over 3,300 Papua New Guinea nationals.

The open pit and underground gold mine sits at an altitude of 2,200-2,600 metres in Enga province, and is about 600 km northwest of Port Moresby.

Other mining companies operating in PNG, including Newcrest Mining (ASX: NCM), have not been impacted by the decision regarding Porgera.

The Australian miner has “welcomed” the Prime Minister’s support for its Wafi Golpu gold and copper asset, adding that its special mining lease at the Lihir operations remains in good standing with a renewal not expected until 2035. TNM — This article first appeared in our sister publication MINING.com.

8

WWW.NORTHERNMINER.COM

JULY 20–AUGUST 2, 2020 / THE NORTHERN MINER

Battle North Gold updates resource estimate at flagship property ONTARIO

| Company rebrands itself from Rubicon Minerals

BY CANADIAN MINING JOURNAL STAFF

B

attle North Gold (TSX: BNAU; US-OTC: BNAUF), previously Rubicon Minerals, has released an updated resource estimate for its flagship Bateman gold project, formerly known as Phoenix, which grows the measured and indicated tonnes by 18% with no major changes in grade.

The latest estimate features 4.6 million tonnes in the measured and indicated category, grading 6.63 grams gold per tonne, for a total of 979,000 oz. gold with a further 1.3 million inferred tonnes, at 6.57 grams gold per tonne, containing 283,000 oz.

When compared with the previous resource from January of this year, the latest figures represent an 18% increase to the measured and indicated tonnes, and a 21% growth in the associated ounces, with a 3% boost in grade. The inferred portion decreased by a similar amount as the company focused on oriented infill drilling between the 854-metre and 1,098-metre levels this year.

“The expansion of the measured and indicated mineral resource estimate to 979,000 oz. gives us confidence that we can potentially extend the current conceptual mine life to the Bateman gold project within our impending feasibility study,” George Ogilvie, the company’s president and CEO, said in a press release.

Ogilvie added that he is pleased

Battle North Gold’s Bateman mining project in northwestern Ontario was formerly known as Rubicon’s Phoenix project. BATTLE NORTH GOLD

with the results of the infill work completed over the past few months for two reasons. The first is the high conversion of inferred resources to the measured and indicated category, at over 90%, and the addition of approximately 132,000 oz., at a head

grade of 8.15 grams gold, to the indicated classification.

“These results provide strong indications of the further potential exploration upside of the F2 gold zone at the Bateman gold project,” Ogilvie added. The latest resource

was derived using a 3 gram gold per tonne cut-off grade.

Current inferred resources extend down to the 1,403-metre level, with additional potential to grow the measured and indicated inventory through orientated infill drilling.

Victoria Gold’s Eagle mine reaches commercial production on July 1 YUKON

| First reporting period will be the third quarter ended Sept. 30

Haul truck (foreground) at Victoria Gold’s Eagle mine in central Yukon. VICTORIA GOLD.

BY CANADIAN MINING JOURNAL STAFF

V

ictoria Gold’s (TSX: VGCX) Eagle gold mine in central Yukon reached the commercial production milestone on Canada Day. As of July 1, all of the facilities required for this stage of the mine life are now complete and, according to Victoria, the mining and processing operations are performing well.

“Site activities continue to progress

well, and all facilities and operations are now at, or approaching, design capacity,” John McConnell, the company’s president and CEO, said in a news release. “This consistent production combined with materially positive operating cash flow has allowed Victoria management to declare commercial production as of July 1.”

Victoria’s first reporting period under commercial operations will be the third calendar quarter of this year.

The company also provided an update on the Covid-19 protocols for

“ALL FACILITIES AND OPERATIONS ARE NOW AT, OR APPROACHING, DESIGN CAPACITY.” JOHN MCCONNELL PRESIDENT AND CEO, VICTORIA GOLD

Eagle personnel. Those arriving to site from Yukon and B.C. no longer need to self-isolate before showing

up to the mine, while workers from outside of B.C. and the Canadian territories are required to isolate in Whitehorse for 14 days. As a result, the mine is operating on a 4-week rotation schedule, rather than its usual 2-week rotations.

In addition, last week, the company announced the release of a book on the history of the Dublin Gulch property, host to the Eagle mine. Written

by Michael Gates, a Yukon-based author, Dublin Gulch: A History of the Eagle Gold Mine, covers the gold

The gold zone remains open and, according to the company, the geological model developed for the project in 2018 is in line with the latest observations from F2.

The company remains on track to complete a maiden feasibility study, based on the latest resource, for the underground asset in the second half of the year. This work is now 75% complete and Battle North is evaluating quotes for work and equipment.

Bateman features an existing production shaft and a 1,800-tonne per day permitted mill.

Last year, the company released a preliminary economic assessment (PEA) for Bateman, which outlines a six-year underground mine producing approximately 80,000 oz. gold annually at all-in sustaining costs of US$882 per oz., with head grades of 5.31 grams gold.

In a note to investors, Andrew Mikitchook of BMO Capital Markets highlights his expectation of a higher production profile in the upcoming feasibility when compared with last year’s PEA. “A clear takeaway from this resource update is that the feasibility should have a longer mine life than the approximately 520,000 oz. in the PEA, and supports our assumption of 1 million oz. mined at Bateman over an extended mine life of about 10 years.” TNM — This article first appeared in our sister publication, Canadian Mining Journal.

discoveries of the nineteenth century through to the mine’s first gold pour in September 2019.

“It is the story of the little company that could, Victoria Gold, of a veteran miner, John McConnell, and of his committed team of determined men and women who beat the odds and turned the dream into reality,” Gates said in a statement.

The book highlights the partnerships between Victoria and Yukon’s governments and communities since its 2009 purchase of the Dublin Gulch property. In October 2011, Victoria Gold and the First Nation of Na-Cho Nyak Dun (NND) signed a Comprehensive and Cooperative Benefits Agreement to ensure benefits and opportunities for NND citizens over the life of the mine.

Victoria Gold wholly owns the 555-sq.-km Dublin Gulch property, 375 km north of Whitehorse, which hosts the Eagle and Olive gold deposits.

Proven and probable reserves across Eagle and Olive total 155 million tonnes grading 0.65 gram gold per tonne for a total of 3.3 million oz. Cutoff grades for the reserves vary with deposit and material type and range from 0.15 gram gold to 0.58 gram gold.

Based on a technical report released last December, the Eagle mine is expected to produce an average of over 210,000 oz. gold per year at allin sustaining costs of US$774 per oz. over a mine life in excess of 10 years.

At press time in Toronto, Victoria Gold was trading at $14.92 per share within a 52-week range of $4.02 and $16.58. The company has 61 million common shares outstanding for a $916 million market capitalization. TNM — This article first appeared in our sister publication, Canadian Mining Journal.

SPECIAL FOCUS

TECHNOLOGY METALS

U.S. government to assess Twin Metals Minnesota’s proposed mine ENVIRONMENT

BY DANIEL SEKULICH dsekulich@northernminer.com

A

ntofagasta’s (LSE: ANTO) wholly-owned Twin Metals Minnesota has received formal notice that its planned copper-nickel-cobalt-platinum metals mine will be assessed through a federal environmental review. The U.S. government’s Bureau of Land Management (BLM) notified the company at the end of June of its intention to scope and prepare an Environmental Impact Statement (EIS) for the proposed mine project in Minnesota.

Twin Metals’ chief regulatory officer, Julie Padilla, said this is another important part of the company’s longterm plans for an underground mine.

“It’s really a significant milestone,” Padilla told The Northern Miner.

“Getting to this point means that we’ve submitted and answered enough questions on the mine plan of operations that the BLM feels it’s prepared to enter into formal environmental review.”

The project has been in development for a decade, and is located between the cities of Ely and Babbitt in northeastern Minnesota. The company is headquartered in St. Paul, with its operational base located in Ely. Twin Metals envisions an underground mine that will target minerals within the Maturi deposit, part of the Duluth Complex geologic formation.

According to Twin Metals, the Duluth Complex contains some of the largest undeveloped deposits in the world, with more than 4.4 billion tonnes of mineralized material containing copper, nickel and other strategic minerals.

Padilla believes the region’s deposits have not received enough attention. As the U.S. government looks to reduce reliance on foreign production sources, resources like those located in the Maturi deposit will take on increased strategic importance. These include copper for wind power and broadband networks, nickel for electric vehicles and cobalt for smart phones.

“This deposit overall — the Duluth Complex — hosts about 95% of the United States’ nickel reserves,” she said. It also has “88% of the country’s cobalt, a third of its copper, and about 75% of its platinum-group metals.”

The company is mindful that its planned mine is located within the U.S. Forest Service’s Superior National Forest Plan and close to the Boundary Waters Canoe Area Wilderness. The project would be the first underground mining operation in Minnesota since 1967, an approach Twin Metals says will minimize surface disruption, noise and dust.

The proposed mine is not without its opponents, who worry about the potential environmental damage that could result from the project.

But Twin Metals’ plans foresee the

| Bureau of Land Management to begin formal review

overall project footprint to be only 15-20% the size of a traditional open pit mine.

The company anticipates the mine processing 20,000 tonnes of mineralized material per day, with extraction operations taking place between 120 and 1400 metres underground. Additionally, processing will remove most of the sulfide minerals, so tailings will not produce acid rock drainage, and crushing will occur underground.

While the U.S. federal government’s BLM environmental assessment gets underway, Minnesota’s Department of Natural Resources (DNR) is the other regulatory player that will soon be looking at the project.

“As we move forward, our next steps are to continue to respond to the state, the DNR’s comments on our data submittal, to work towards a completeness determination there,” Padilla says. “We are also out in the field doing a lot of baseline data collection on the environment. And we expect to do cultural resources data collection this year.”

While Twin Metals has already drilled almost 610,000 metres on the deposit, Padilla notes that there is still a lot of work to be done before the project enters into an operational phase.

“My best guess on getting through both the state and the federal environmental reviews, and the permitting process which follows that, is five to seven years,” Padilla says.

“And then we’ll see a two and half year construction period. So, we’re a ways out, but hopefully it’ll be at the more efficient end of that timeline.” TNM

“THE DULUTH COMPLEX HOSTS ABOUT 95% OF THE U.S.’S NICKEL RESERVES, 88% OF THE COUNTRY’S COBALT, A THIRD OF ITS COPPER, AND ABOUT 75% OF ITS PLATINUM-GROUP METALS.” JULIE PADILLA CHIEF REGULATORY OFFICER, TWIN METALS MINNESOTA

Twin Metals’ operational office in Ely, Minnesota. TWIN METALS MINNESOTA

NioBay Metals – Focus on Niobium – recognized as strategic and critical metal.

•

Advancing 100% owned James Bay Niobium Project

•

Safe jurisdiction in NE Ontario

•

Goal to become the 4th Niobium producer in the world

•

PEA to be published by Q4 2020

For more information, please visit: www.niobaymetals.com

TSX–V: NBY

10

TECHNOLOGY METALS

JULY 20–AUGUST 2, 2020 / THE NORTHERN MINER

WWW.NORTHERNMINER.COM

Kincora Copper hits mineralization at Trundle in Australia EXPLORATION

| Six-hole drilling program to be expanded

BY CARL A. WILLIAMS

K

cwilliams@northernminer.com

incora Copper (TSXV: KCC) has reported assay results from the first drill hole at its Trundle copper-gold project in Australia.

Drill hole TRDD001 intersected several intervals of gold and copper mineralization from skarn zones within the southern portion of the property, which is situated in the Macquarie Arc of the Lachlan Fold belt in central-west New South Wales.

Highlights included 51 metres grading 1.17 grams gold per tonne and 0.54% copper starting from 39 metres downhole.

The hole also intersected 21 metres grading 1.94 grams gold and 1.18% copper from 58 metres, including a high-grade core of 8 metres grading 3.07 grams gold and 1.95% copper, and 2 metres grading 4.32 grams gold and 2.43% copper from 76 metres downhole.

“We’re excited by the results from the first hole as it’s returned some pretty good gold and copper grades in oxidised skarn,” John Holliday, Kincora’s chair of the technical committee, said in a telephone interview.

“The skarn is really significant because all of the really good porphyry deposits in the Macquarie Arc have skarn adjacent or near to them, so it’s very indicative of a favourable environment for further exploration.”

Drilling from deeper down TRDD001, he added, intersected 18 metres grading 0.53 gram gold and 0.05% copper from 284 metres, including 3 metres grading 1.80 grams gold and 0.18% copper. The hole also intersected the targeted adjacent porphyry intrusion system, returning 21 metres grading 0.25 gram gold and 0.03% copper from 66 metres downhole.

The hole is part of a six-hole, 3,800-metre drill campaign with assay results from the second drill hole, TRDD002, at the Mordialloc target, located about 8.5 km north of TRDD001, expected in the next couple of weeks, the company reports.

“The second hole was encouraging as it provided very positive visual indications that there is increased veining towards the bottom of the hole,” Holiday said.

Both holes, he noted, “support

Co 27

Cobalt

58.933

the skarn being a standalone target at depth and the high-grade zones within broader moderate mineralized zones illustrate significant magmatic fluids associated with the adjacent porphyry intrusion system, which is a much larger target.”

The first two drill holes significantly expanded the scale and prospectivity of the Mordialloc porphyry and Trundle Park skarn-porphyry targets, the company says, and are interpreted to lie within the same mineralized complex as China Molybdenum’s Northparkes copper-gold project, Australia’s second-largest porphyry mine, 30 km east of Trundle.

The third hole, TRDD003, is being drilled at Bayleys porphyry target, located approximately 1 km northeast of Mordialloc. For the fourth hole, the company plans to return to Trundle Park to follow-up on TRDD001.

The property has been extensively drilled in the past, with about 2,208 holes drilled over 61,146 metres, the company reports. However, about 92% of the holes were less than 50 metres deep and only 11 were deeper than 300 metres, which, the company

“WE’LL BE DRILLING MORE DEEP HOLES TO TEST FOR PORPHYRIES AT DEPTH.”

3

Nickel

believes, are too shallow given other major mines in the area.

The company now plans to drill another 14 to 20 holes at the targets to better understand and define the extent of the mineralisation.

“We’ll be drilling more deep holes to test for porphyries at depth, which is what is required at Macquarie Arc because all the surface areas have been thoroughly explored,” Holliday said. “Because they are at depth, the best way of targeting is to vector off the drill holes. So, we plan to drill 100 to 200 metre-spaced step-out holes going in the direction that the current holes are indicating where we should go.”

At press time in Toronto, Kincora

6.94

58.693

From early exploration to end-product certification and closure, our team provides quality fit-for-purpose solutions and testing capabilities for the complete suite of battery metals including cobalt, lithium, nickel and more!

SGS IS THE WORLD’S LEADING INSPECTION, VERIFICATION, TESTING AND CERTIFICATION COMPANY

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

was trading at 18¢ per share within a 52-week trading range of 1¢ and 19¢.The company has 150 million common shares outstanding for a $27-million market capitalization. TNM

TECHNICAL COMMITTEE CHAIR, KINCORA COPPER

Ni 28

Inset: Core sample from drill hole TRDD001. KINCORA COPPER

JOHN HOLLIDAY

Li

Lithium

Kincora team logging core at Trundle project in New South Wales, Australia.

Galaxy pushes ahead at Sal de Vida project in Argentina LITHIUM

| Company back on track to begin production by 2022

BY CECILIA JAMASMIE

G

Mining.com

alaxy Resources (ASX: GXY) confirmed today that it is on track to begin production at its Sal de Vida lithium brine project in Argentina by 2022, despite the Covid-19 pandemic impacting the development schedule.

The Perth-based lithium producer and developer put the brakes on its flagship project in April, following a nation-wide lockdown ordered by the Argentinean government to contain the spread of the coronavirus.

Work resumed in May under strict provincial protocols, which Galaxy said has hindered ground transportation and the movement of employees during the design phase.

Impact on the overall schedule had been minimized through the adoption of an ‘early works’ phase, Galaxy said. The company noted that while it is still targeting first production in 2022, it expects it now to be in the fourth quarter of the year.

Early works, such as pond construction and the procurement of long-lead items, are slated to begin in early 2021.

Galaxy Resources has derisked the Sal de Vida project by developing a simplified flowsheet, using mature technology and staging development.

The company aims to have a highly-competitive, low-cost lithium brine mine on the Salar del Hombre Muerto salt pan in north-west Argentina.

The project lies over 4,000 metres above sea level, part of the “lithium triangle” that includes neighbouring Chile and Bolivia, and which is home to more than 60% of the world’s annual lithium production.

Galaxy estimates Sal de Vida would take US$474 million to develop and generate US$354 million in annual revenue.

The company estimates it will spend about $12 million in the second half of 2020 on piloting, engineering, well drilling and owner costs.

Over a mine life of 40 years, Sal de Vida is expected to yield up to 25,000 tonnes a year of lithium carbonate for batteries and 95,000 tonnes of potassium chloride, a key fertilizer ingredient. TNM

— This article first appeared in our sister publication MINING.com.

TECHNOLOGY METALS

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 20–AUGUST 2, 2020

11

DEVELOPMENT SNAPSHOT Eight juniors developing next generation metals While mining is best known for supplying the world with precious and base metals, technology metals – such as lithium, cobalt and specialty metals like niobium and tungsten – are needed for advanced applications, such as electric vehicle batteries, superalloys and within consumer electronics.

Below, we provide an overview of eight juniors with exposure to these elements. n AUXICO RESOURCES Auxico Resources (CNSX: AUAG) is an exploration-stage company with mineral assets in Brazil, Colombia and Mexico.

In June, Auxico signed a joint venture agreement with Kibara Minerals to concentrate and export tantalum- and niobium-bearing materials from the Democratic Republic of the Congo (DRC).

Kibara has a supply agreement in place with a cooperative for purchase of tantalite material from an artisanal site in the north-central part of the country. Auxico, together with its partner, Covemin (a European commodities trading firm), has established relationships with potential buyers of this mineral product. Auxico would purchase and ship the material, retaining 70% of the profits and Kibara would retain 30%.

Towards the end of June, the company closed a $1.6-million non-brokered private placement of convertible debentures. Net proceeds are intended to start the trading process out of the DRC and Brazil, as well as for general working capital.

In February 2019, Auxico signed a memorandum of understanding (MOU) with a Brazil-based company to earn a 70% interest in a joint venture on the 41-sq.km Palha property in the country.

Samples from the site returned up to 50.7% niobium, 90.2% tin, 3.1% tantalum and 700 grams per tonne scandium.

By July of last year, the company announced that it had entered into an additional option agreement – this time, to acquire a 100% interest in the 7.4-sq.-km Porto Grande property in Brazil’s Amapa state for a total of US$2 million. The site has exploration and export permits in place for gold, tin, tantalum and niobium — occurrences of the last three elements have been documented at the property. Porto Grande lies within the country’s Gleba-Matapi tantalum-niobium, gold and tin district.

In Colombia, Auxico has 20 agreements in place with coltan (niobium-tantalum) property owners in the Vichada and Guainia departments. In January 2019, the company announced that its sampling campaign at the optioned PanaPana property in Colombia’s Guainia state discovered up to 4.6 kg per tonne of scandium, 417.7 kg of niobium, 323.1 kg of tantalum and up to 495.6 kg per tonne of titanium. A total of four samples were extracted from black sands over an area of 500 metres by 1,500 metres.

Auxico Resources has a $3.8-million market capitalization.

Avalon’s Separation Rapids lithium project near Kenora, Ontario. AVALON ADVANCED MATERIALS..

AVALON ADVANCED MATERIALS Avalon Advanced Materials’ (TSXV: AVL) most advanced asset is the Separation Rapids lithium project, 70 km north of Kenora, Ontario.

The site features measured and indicated resources of 8.1 million tonnes grading 1.37% lithium oxide and 0.36% rubidium oxide and inferred resources of 1.2 million tonnes at 1.33% lithium oxide and 0.36% rubidium oxide. The deposit is petalite-enriched. The lithiumbearing mineral is a desirable feed for specialty glass-ceramic products due to its low impurity levels and potential to generate high-purity lithium products at relatively low costs for manufacturers of rechargeable lithium-ion batteries.

In 2018, the company completed a preliminary economic assessment for the project, which suggests a 20-year, 475,000 tonne-peryear operation, producing 71,500 tonnes per year of petalite and 11,800 tonnes of lepidolite annually. With an initial capital outlay of $77.7 million, the after-tax net present value estimate for the development, at an 8% discount rate, came in at US$102.2 million, with a 22.7% internal rate of return.

In June, the company announced that it had received the approvals to extract a 2,500-tonne bulk sample, which would be processed at a pilot plant to recover petalite samples for testing by interested glass and ceramic companies. Recent laboratory work on samples from Separation Rapids has focused on flowsheet optimization for an efficient production of petalite products. The company plans to complete a feasibility study for the asset once offtake agreements are in place.

Avalon is also evaluating potential minerals recovery opportunities from historical wastes at closed mines. Precision Periodic, a private U.S.-based company, is working with Avalon to develop a new extraction technology, which would be used to recover dissolved elements from acid mine drainage n

using nano-filtration.

Avalon’s wholly owned, pastproducing East Kemptville tinindium project in Nova Scotia features a stacked tailings facility, generating acidic runoff with a high content of target metals. The company’s vision for the site includes first processing low-grade stockpiles with ore-sorting technology, followed by a reprocessing of the tailings to recover the dissolved metals.

Avalon Advanced Materials has an $18.6-million market capitalization. n FIRST COBALT First Cobalt (TSX: FCC) is working to become North America’s first producer of battery-grade cobalt through a restart of its First Cobalt refinery in Ontario, the only primary cobalt refinery on the continent.

In May, the company released the results of a feasibility study on

a restart of the facility, which would involve an expansion of the refinery and adapting it to produce cobalt sulphate for the electric vehicle battery market.

The feasibility outlines a 25,000 tonne-per-year (55 tonne per day) battery-grade cobalt sulphate production scenario, which, according to the company, would supply 5% of the world’s refined cobalt. The project would produce cobalt sulphate at a minimum grade of 20.5% cobalt at total operating costs of US$2.72 per lb. cobalt. With an initial capital requirement of US$56 million, the feasibility derived an after-tax net present value estimate of US$139 million, at an 8% discount rate, with a 53% internal rate of return.

The company is working to develop a demonstration plant, which could produce cobalt sulphate by the fourth quarter of this year, and aims to restart the refinery at 55 tonnes per day by late 2021.

Shortly after the feasibility release, First Cobalt also announced a $2.1-million work program for the refinery, to investigate additional opportunities to improve the project economics.

In tandem with the feasibility, the company also tabled a prefeasibility level evaluation of a restart of the refinery at a 12 tonne per day throughput as a benchmark for potential restart scenarios. Three scoping studies are underway to evaluate alternate startup options.

First Cobalt plans to use the prefeasibility and scoping study results to determine an optimal restart strategy. According to the company, the option outlined in the prefeasibility document supports a startup of the refinery using existing permits, facilities and equipment, with some changes to the current flowsheet and plant modifications.

Se e SNAPSHOT / 12

NEXT GENERATION ELECTRIC VEHICLE

SUPPLY CHAIN firstcobalt.com

TSX.V:FCC OTCQX:FTSSF

12

JULY 20–AUGUST 2, 2020 / THE NORTHERN MINER

TECHNOLOGY METALS

WWW.NORTHERNMINER.COM

SNAPSHOT From 11

In July 2019, First Cobalt and Glencore (LSE: GLEN) entered into a partnership agreement, which would provide a non-dilutive and fully funded approach to restart the refinery. As part of this agreement, First Cobalt would treat cobalt feed from Glencore’s operations in the Democratic Republic of the Congo for an initial term of up to four-and-a-half years, and Glencore would provide up to 100% of the capital required to restart and expand the refinery.

In Idaho, the company also holds the Iron Creek project, with indicated resources of 2.2 million tonnes at 0.32% cobalt-equivalent and a further 2.7 million tonnes at 0.28% cobalt-equivalent inferred.

Contained cobalt stands at 12.3 million lb. in the indicated and 12.7 million lb. in the inferred category.

First Cobalt has a $48.8-million market capitalization. n FREEPORT RESOURCES Freeport Resources (TSXV: FRI) is an exploration company with mineral assets in Labrador and British Columbia.

The company’s most advanced assets are the Hutton Garnet beaches deposits in Labrador, 350 km north of Nain. These cover 28 sq. km and, according to Freeport, are some of the highest-grade known placer garnet deposits in the world.

Measured and indicated resources at Hutton stand at 918,000 tonnes per metre depth, containing a total of 1.3 million tonnes of garnet. These resources are made up of onshore and offshore components, with contributions from the South and North Beaches as well as from the Seven Islands. Offshore resources have an estimated depth of one metre; the onshore component is projected over two metres – the North Beach is 27% garnet by weight while the South is 63% garnet.

The company envisions a seasonal operation producing 20,000 tonnes of garnet product annually at Hutton, with an extraction scenario similar to a small-scale sand and gravel mine. Based on removing thin layers of sand from the beach, Freeport expects the environmental impact of the mine to be minimal.

Freeport has environmental assessment approval to extract a 5,000-tonne bulk sample at Hutton. The sample would be used to fine-tune the processing flowsheet,

First Cobalt’s refinery in northern Ontario. FIRST COBALT.

finalize the plant design and generate garnet products for market testing and, ultimately, outline a commercial production scenario.

According to the company, the processing requirements for the Hutton deposits are low-intensity in terms of the equipment and capital costs required.

Freeport also holds the 1.5-sq.km Spanish Mountain Gold property in B.C., which is adjacent to and on strike with Spanish Mountain Gold’s (TSXV: SPA) predevelopment gold project. Also in the province, the company owns 12-sq.-km of Q claims, prospective for fluorspar and molybdenite, as well as the past-producing tungsten-gold Red Rose mine.

Freeport Resources has a $14.5-million market capitalization. n FRONTIER LITHIUM Frontier Lithium (TSXV: FL) is advancing its wholly owned Pak lithium project in northwestern Ontario, 175 km north of Red Lake.

The 268-sq.-km Pak project includes the Spark and Pak deposits. In 2018, the company released the results of a feasibility study on Pak. The Pak site lies along Ontario’s ‘Electric Avenue’ within the Canadian Shield, which spans hundreds of kilometres and features rare metals occurrences. The Pak deposit is at the southwestern end of this trend.

According to the company, its Pak project, at surface, hosts the highest quality spodumene lithium hard rock resource in North America. The lithium resource quality is based on low levels of impurities (such as iron) as well as its high grades and volumes.

In May, Frontier reported met-

Clean Magnesium Metal

NEW THINKING & NEW OPPORTUNITY · Scalable, price competitive, & eco-friendly · Build out of a commercial pilot plant, 2020 · Energy & labor efficient continuous process · No waste and near zero toxicity · Producing metal, end of 2020 and into 2021 · Able to build a plant anywhere in the world

WESTERN MAGNESIUM

T:

604.423.2709

E: dmelles@westmagcorp.com

www.westmagcorp.com WMG: TSXV MLYF: OTCQB

allurgical results from an ore composite extracted from Pak. Third-party testing generated a high-quality spodumene concentrate with an average grade of 7.2% lithium oxide with low impurities.

According to Frontier, these results compare favourably with the specifications from the world’s primary source of technical-grade spodumene concentrates.

In February, Frontier tabled a maiden pit-constrained resource estimate for the Spark pegmatite at Pak: this deposit includes an indicated resource of 3.2 million tonnes grading 1.59% lithium oxide, containing 51,712 tonnes of the compound, with a further 12.2 million inferred tonnes, at 1.36% lithium oxide, totalling an additional 166,177 tonnes of lithium oxide.

At the Pak deposit, measured and indicated resources total 8.5 million tonnes at 1.78% lithium oxide, with a further 1.9 million tonnes inferred grading 2.01% lithium oxide.

In 2018, the company released the results of a preliminary feasibility study on a combined open-pit and underground development of the Pak deposit. The 1,090-tonneper-day, 16-year operation would produce a total of 1.1 million tonnes of technical grade lithium concentrate (grading 7.2% lithium oxide) and 115,500 tonnes of chemical-grade lithium concentrate (at 6.6% lithium oxide) over its lifespan. With a pre-production capital cost estimate of $147 million, the after-tax net present value estimate for the mine, at an 8% discount rate, came in at $301 million, with a 38.3% internal rate of return.

Frontier is working towards first producing premium technical-grade lithium concentrates for glass producers and aims to scale up towards lithium chemical production for the glass and battery materials markets by building a downstream processing facility.

Frontier Lithium has a $33.8-million market capitalization. n GRID METALS Grid Metals (TSXV: GRDM) has a 100% interest in the East Bull Lake (EBL) property, 80 km west of Sudbury, Ontario. The 22-km long by 4-km layered intrusion includes near-surface palladium mineralization along its southern and northern margins. Grid has held the property for over 20 years and collected a significant exploration database over that time, including the results of geophysical surveys and the results from 5,000 samples.

Grid suggests geological analogies between EBL and Impala Platinum’s Lac des Iles palladium complex in northwestern Ontario.

The prospective structures at EBL cover a strike length of 30 km with potential for vertical feeder structures with higher-grade palladiumrich sulphide mineralization.

In May, the company completed a magnetotelluric (MT) survey over EBL — a new approach to exploration at the site – to help trace zones of palladium-rich sul-

phide mineralization.

At the Parisien Lake area in the centre of the property, this survey outlined a large anomaly at a depth of 450 metres, nearby two largescale faults.

Two additional scout MT lines completed around the northern margin of the EBL intrusion traced a strong anomaly along its northern contact. No drilling has been done to date along this 7-km long horizon. At the East Lobe area on the eastern end of EBL, the MT survey defined an additional large prospective structure.

By June, Grid announced that it had started drilling at EBL, with 5,000 metres planned in nine diamond drill holes across three target areas within the EBL intrusion. The first stage will be at Parisien Lake and the second will test geophysical anomalies around the margins of the East and West Lobe intrusions.

In addition, Grid holds the Makwa-Mayville nickel-copperpalladium project in Manitoba, 145 km from Winnipeg. This asset consists of the nickel-dominant Makwa holding and the copperdominant Mayville property; the two are located 40 km apart. A preliminary economic assessment completed in 2014 envisions two open pit mines. The study proposes an 8,300-tonne-per-day, 14-year operation, at an initial capital cost of $208 million, with a post-tax net present value estimate, at a 7.5% discount rate, of $97 million.

Total indicated resources across the two projects consist of 33.8 million tonnes grading 0.27% nickel, 0.37% copper, 0.06 gram platinum and 0.19 gram palladium. Additional total inferred resources stand at 5.9 million tonnes at 0.2% nickel, 0.43% copper, 0.06 gram platinum and 0.15 gram palladium.

Grid Metals has an $11.9-million market capitalization. n SRG MINING SRG Mining (TSXV: SRG) is focused on developing the wholly owned Lola graphite deposit in Guinea, 1,000 km southeast of Conakry. Last year, the company released the results of a feasibility study for the project, which outlines total proven and probable reserves of 42 million tonnes grading 4.17% carbon graphite for a total of 1.75 million tonnes contained graphite.

The feasibility suggests an open pit operation with a 29-year mine life, producing an average of 54,600 tonnes of graphite flakes a year.

Based on an average concentrate grade of 95.4% carbon graphite, the site plant would be designed to produce 50,000 tonnes of concentrate annually in four standard size fractions and recovered through a conventional flotation process. Based on an initial capital cost estimate of US$123 million and life-of-mine average operating costs pegged at US$508 per tonne of concentrate, the associated after-tax net present value estimate for the project, at an 8% discount rate, would be US$159 million with a 21.2% internal rate of return.

In July, the company closed a $1-million private placement, with proceeds intended for development of Lola and general working capital requirements.

In June, SRG announced that it has signed its sixth off-take agreement for Lola, encompassing 8,000 tonnes of graphite over a three-year period. With this announcement, 90% of the company’s forecast production over the first three years of operations is now under a sales agreement.

This April, the company announced that it has selected DRA Global as the provider of engineering, procurement and construction management (EPCM) services for Lola, with the site-based work to be led by DRA’s African subsidiary.

Last summer, SRG also entered into a share purchase agreement with a U.S.-based industrial firm, where the latter acquired US$5 million of SRG stock and entered into a memorandum of understanding (MOU) with the company to jointly investigate cooperation possibilities in areas such as debt financing, energy production and concentrate transportation. In November of 2019, SRG received the mining permit for Lola for a renewable 15-year term.

SRG Mining has a $55.9-million market capitalization. n WESTERN MAGNESIUM Western Magnesium (TSXV: WMG) is working to become a producer of magnesium, based on its proprietary technology, which uses a continuous silicon and hightemperature reaction to produce the metal. According to the company, this flowsheet features low labour and energy cost requirements and does not generate toxic by-products or waste, and aims to overcome many of the limitations of current magnesium batch extraction processes.

Although magnesium is an abundant metal, it poses a supply challenge due to limitations in its extraction and production. Current processes either have a measureable environmental impact or are high-cost and labour-intensive.

In April, the company announced that it has started the build-out of its first commercial magnesium pilot plant and aims to produce magnesium from the plant by the end of this year. Western Magnesium plans to then send this metal out for industry tests and certifications and to ultimately collect market demand and purchase order data by the third quarter of 2021. The market data would be used to size the company’s first commercial facility.

Based on a corporate update from early June, the process engineering for the pilot plant is complete. The company has engaged a mechanical engineering firm to provide detailed equipment designs and models, and long lead-time items will be designed first to maintain the project schedule. Western Magnesium is procuring long-lead items concurrently with the design work. Once the company secures a facility for the pilot plant, it then plans to select a construction engineering firm.

In November 2019, the company signed a three-year capital commitment with New York-based GEM Global Yield, which would make $210 million available to the company as it works towards commercial production of high-grade magnesium.

In Nevada, Western Magnesium wholly owns the Tami Mosi magnesium property, 10 km southeast of Ely. A 2009 resource estimate for the site outlined 236.2 million inferred tonnes grading 10% magnesium, containing 23.5 million tonnes of the metal.

Western Magnesium has a $37.5-million market capitalization. TNM

TECHNOLOGY METALS

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 20–AUGUST 2, 2020

13

Energy Fuels’ White Mesa uranium mill in southeastern Utah. ENERGY FUELS.

Energy Fuels to upgrade uranium processing facility to include rare earths REE

| Facility is only fully-licensed and operating conventional uranium mill in the U.S.

BY VALENTINA RUIZ LEOTAUD

A

Mining.com

s the United States pushes to dilute China’s monopoly on rare earths and develop a domestic supply, Colorado-based Energy Fuels (TSX: EFR) is working towards being at the forefront of the race.

Energy Fuels is the owner of the White Mesa mill in Utah, the only fully-licensed and operating conventional uranium mill in the United States. The facility is normally used to process radioactive ore and produce yellowcake, but now some areas are likely to be transformed to allow for the processing of uranium-rare earth ores.

“Our rare earth elements program intends to make the mill available for miners to process their uranium-rare earth ores in the U.S.” Mark Chalmers, president and CEO of Energy Fuels, told MINING.com. “Such a facility does not currently exist.”

According to Chalmers, the mill’s ability to remove and recover uranium and manage the radioactive by-products from rare earth ore potentially makes it a key link in the U.S. rare earth supply chain.

This is because many rare earth separation facilities are unable to handle uranium or the radioactive by-products due to technical or regulatory reasons, which explains why China’s rare earth industry is closely tied to its nuclear industry.

“We are simply looking to do something similar in the U.S.,” the mining executive said.

It took Energy Fuels one year to assess the possibility of using the White Mesa mill to process REE ore streams and produce rare earth concentrates.

MINING.com’s Valentina Ruiz Leotaud spoke with Chalmers about the company’s plans.

Valentina Ruiz Leotaud: Can you explain what this evaluation process consisted of?

Mark Chalmers: Over the past year or so, we were approached by several private entities and the U.S. government, asking about the

“OUR RARE EARTH ELEMENTS PROGRAM INTENDS TO MAKE THE MILL AVAILABLE FOR MINERS TO PROCESS THEIR URANIUM-RARE EARTH ORES IN THE U.S.” MARK CHALMERS PRESIDENT AND CEO, ENERGY FUELS

capabilities of the White Mesa mill in the rare earth space. So we began to educate ourselves.

We discovered that uranium occurs in many rare earth minerals and that these elements need to be removed before the individual rare earth elements could be separated.

Of course, uranium recovery is our main business. We began internal laboratory testing on a number of rare earth mineral samples and got very positive results.

We also began talking to rare earth industry folks who were not aware of the White Mesa mill, and once they learned about our capabilities, they told us that the White Mesa Mill could fill a vital role in bringing rare earth production back to the U.S. We hired some exceptional consultants, including ANSTO, a mining consultancy group in Australia with considerable experience in rare earth mineral processing; Brock O’Kelley, who also has considerable experience in the mining and processing of rare earths in the U.S.; and Constantine Karayannopoulos, who has substantial global experience and relationships in rare earth markets.

At the current time, we think we are well on our way toward creating a viable rare earth business.

VRL: Will the mill have to undergo any modification to be able to process REE ore?

MC: We are currently evaluating minor modifications to our operations at White Mesa mill to enable the processing of uranium-bearing rare earth ores and to recover uranium and produce a rare earth concentrate. However, we do not believe significant investment will

be required for our initial phases of rare earth recovery.

VRL: Can you explain how the process of removing and recovering uranium and thorium from rare earth ore works?

MC: The mill has a long history of recovering uranium from a number of ores and alternate feed streams, including some that contained rare earths. We just didn’t attempt to recover those rare earths in the past.

To create a rare earth concentrate, mill personnel will apply chemicals to the rare earth ores and place the rare earth elements, along with uranium, into solution. Then, the mill will use solvent extraction to remove the uranium and the radioactive by-products. These processes are actually quite similar to what the mill has done over its 40-year operating history.

of rare earth elements that are used in everything from smartphones to medical devices to clean energy production. The U.S. government declared that rare earth elements are critical to our economy and national defence and has made it a priority to develop domestic production capabilities.

We see an opportunity for our White Mesa mill, which is already licensed and constructed, to help fill this critical gap and bring rare earth production capabilities back to the U.S. We don’t expect to significantly displace China in global rare earth markets. However, we would like to play a role in helping the U.S. to rebuild our domestic capabilities.

MC: Energy Fuels acquired the White Mesa mill as part of its acquisition of Denison Mines Corp. in 2012. This transaction combined the only operating uranium mill in the U.S. with Energy Fuels’ resources base. Built in 1980, the facility has a licensed capacity of more than 8 million pounds of uranium per year.

Ore from Energy Fuels mines in Utah, Arizona and Wyoming is crushed into smaller particles and delivered to the mill. Once there, a chemical solution is applied to extract the uranium, which is concentrated and dried to create yellowcake. The yellowcake is then transported to a conversion facility to continue the process of creating nuclear fuel.” TNM

VRL: Can you give us a little background on White Mesa?

— This article first appeared in our sister publication, Mining.com.

Clayton Valley Lithium Project The Future of Lithium

Cypress Lithium Nevada

VRL: When do you plan to start this new phase?

MC: We intend to test and evaluate potential sources of rare earth element ores, with the goal of entering into commercial processing arrangements with the owners of those ores, potentially as soon as late 2020 or early 2021. If the program is successful, we will produce rare earth oxide concentrates, which can then be sent to existing rare earth separation facilities for further processing.

VRL: Why is it important for a company like Energy Fuels to enter the REE market?

MC: China is the dominant supplier

P o sitiv e 2 0 2 0 P r ef easib ility Stud y ad v anc es Cy p r ess’ go al o f lo w - c o st p r o d uc tio n o f th is v ital c o mmo d ity .

• Annual production rate 27,400 t LCE • Mine life more than 40 years • Cash cost $3,329/t LCE • 25.8% IRR at $9,500/t Li2CO3 (after-tax)

www.cypressdevelopmentcorp.com Don Myers | 604-639-3851 | TSXV: CYP | OTCQB: CYDVF

14

WWW.NORTHERNMINER.COM

JULY 20–AUGUST 2, 2020 / THE NORTHERN MINER

Rockhaven’s PEA for Klaza suggests strong economics YUKON

| Developers seek to advance gold project to pre-feasibility level while drilling new targets

PODCAST

BY CANADIAN MINING JOURNAL STAFF

A

n updated preliminary economic assessment (PEA) for Rockhaven Resources’ (TSXV: RK) wholly owned Klaza gold project in the Dawson Range gold belt outlines a 12-year, combined open-pit and underground operation producing gold and silver doré as well as lead and zinc concentrates.

With total payable metals production of 750,000 oz. of gold and 13.8 million oz. of silver over 12 years at all-in sustaining costs of US$875 per gold-equivalent oz., the after-tax net present value for the project comes in at $378 million, at a 5% discount rate.

Based on an average plant throughput of 1,900 tonnes per day, open pit mining at the site would start in the first year of operations for a three-year period whereas the underground portion would operate over the 12-year life of the combined mine. The initial capital cost figure stands at $244 million.

“This study demonstrates that Rockhaven’s Klaza deposit could support a mine with a long life and robust economics,” Matt Turner, the company’s president and CEO, said in a news release. “Since the last economic study was completed in 2016, closer spaced drilling has better defined the upper portions of the deposit, resulting in higher average grades in a superior resource category.”

Turner added that based on the results of this PEA, Rockhaven is now looking to advance Klaza towards a pre-feasibility level alongside continued drilling targeting new discoveries.

The proposed processing flowsheet includes crushing, grinding and milling of the mineralized material, followed by a conventional flotation process to generate lead, zinc and arsenopyrite concentrates. The arsenopyrite concentrate would be treated with an on-site, 250 tonne per day pressure oxidation (Pox) circuit. Precious metals would also be leached from the zinc and lead

PODCAST

Looking southeast over placer operations on Rockhaven Resources’ Klaza gold property in the Yukon. ROCKHAVEN RESOURCES.

PODCAST concentrates.

In the release, Rockhaven highlights the exploration upside at Klaza – the PEA evaluates the mining of three (out of eleven) known zones

Alamos expands Island Gold with high-grade hits ahead of study release ONTARIO

PODCAST

| Last year the mine generated 150,400 oz. gold

BY CANADIAN MINING JOURNAL STAFF

A

lamos Gold (TSX: AGI; NYSE: AGI) has released exploration results from its Island Gold mine in Ontario, which extend high grade areas at the Island East and Main zones, as well as at Island West.

The majority of the notable intercepts in the company’s latest news release are from the E1E zone and confirm the vertical continuity of this area over up to 1.2 km, between depths of 300 metres and 1,500 metres.

Drill highlights from Island East Lower included 2.3 metres of 44.3 grams gold per tonne and 4.9 metres of 29.05 grams gold per tonne. Alamos continues to hit gold mineralization at E1E within a 120-metre-long gap between inferred resource portions, suggesting a 1.2-km vertical span of this zone in the eastern portion of the deposit.

At Island East Upper, notable

of mineralization.

Indicated resources at Klaza stand at 4.5 million tonnes grading 4.8 grams gold per tonne, 98 grams silver per tonne, 0.7% lead and 0.9%

new intercepts from E1E included 3.6 metres of 18.72 grams gold and 2.2 metres of 21.3 grams gold: these high-grade intervals are from an area that is 200 metres east of existing reserves.

Drilling at Island Main returned 10.3 metres of 52.1 grams gold and 4.3 metres of 21.01 grams gold up to 150 metres east of existing mineral reserves.

In addition, surface drilling at Island West returned 5.6 metres of 25.41 grams gold from the C-zone, extending the gold mineralization by 70 metres from previous drilling.

Additional holes targeting potential

zinc, containing a total of 907,000 gold-equivalent ounces.

Additional inferred resources total 5.7 million tonnes at 2.8 grams gold, 76 grams silver, 0.6% lead and 0.7% zinc, for a further 725,000 oz. of gold-equivalent. The pit-constrained portion is based on a 1 gram goldequivalent cut-off grade whereas the underground component is derived using a 2.3 grams gold-equivalent cut-off.

The 11 known zones of mineralization at the road-accessible Klaza property cover a combined strike length of over 10 kilometres. These are within a 1.8-km wide corridor where low to intermediate sulphidation veins feature gold, silver, zinc and lead mineralization. TNM — This article first appeared in our sister publication, Canadian Mining Journal

new parallel zones returned 2.8 metres of 40.34 grams gold and 8.6 metres of 3.9 grams gold.

“Island Gold has seen exceptional growth over the last several years with the deposit doubling in size since we acquired it in 2017,” John McCluskey, the company’s president and CEO, said in a press release. “This growth has been incorporated into a Phase III Expansion study of the operation, which we will be releasing the details of later this week.”

McCluskey added that these latest high-grade exploration results suggest both significant potential for reserve and resource growth at the site as well as upside to the Phase III Expansion scenario.

Four underground and three surface rigs are currently working at Island Gold, with a focus on nearmine resource definition.

Last year, Island Gold generated 150,400 gold oz. at mine-site at all-in sustaining costs of US$656 per oz.

Proven and probable reserves for the site total 3.6 million tonnes at 10.37 grams gold, containing 1.2 million gold ounces. Cut-off grades are between 2.82 grams gold and 4.89 grams gold. TNM

PODCAST

“ISLAND GOLD HAS SEEN EXCEPTIONAL GROWTH OVER THE LAST SEVERAL YEARS WITH THE DEPOSIT DOUBLING IN SIZE SINCE WE ACQUIRED IT IN 2017.”

JOHN MCCLUSKEY PRESIDENT AND CEO, ALAMOS GOLD

PODCAST

— This article first appeared in our sister publication, Canadian Mining Journal.

Alamos’ Island Gold mine in northeastern Ontario. ALAMOS GOLD.

soundcloud.com/northern-miner northernminer.com/tag/podcast

PODCAST

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 20–AUGUST 2, 2020

15

Skeena exercises option on Barrick’s Eskay Creek BRITISH COLUMBIA

| Production estimates of reopened mine are

236,000 oz. gold and 5.81 million oz. silver annually

BY JACKSEN CHEN Mining.com

S

keena Resources (TSXV: SKE) will be exercising its option to acquire 100% of the Eskay Creek gold-silver project from Barrick Gold (TSX: ABX; NYSE: GOLD) via a binding term sheet signed between the parties on July 6.

Discovered in 1988, the former Eskay Creek mine located in British Columbia’s Golden Triangle was once the highest-grade gold mine and the fifth-largest silver mine in the world by volume, having produced approximately 3.3 million oz. gold and 160 million oz. silver at average grades of 45 grams gold per tonne and 2,224 grams silver per tonne.

Based on the preliminary economic assessment released by Skeena in late 2019, the Eskay Creek mine, once reopened, is estimated to produce 236,000 oz. gold and 5.81 million oz. silver annually. The company is currently focused on infill and exploration drilling to advance the project towards the prefeasibility stage.

The binding agreement involves the amendment of an original option agreement between Skeena and Barrick that was in place for the project.

Under the new terms, Skeena will acquire a 100% ownership in Eskay Creek through the issuance of 22.5 million units to Barrick. Each unit comprises one common share and one-half warrant of the company, with each full warrant exercisable for one Skeena common share at $2.70 per share.

In addition, Barrick has agreed to waive its back-in right on Eskay Creek. Following the transaction, Barrick would become a major

A drill at Skeena Resources’ past-producing Eskay Creek gold project in British Columbia. SKEENA RESOURCES.

shareholder in Skeena, with 12.4% ownership of Skeena’s outstanding shares on a non-diluted basis and 17.2% on a partially diluted basis.

Skeena will also grant a 1% net smelter return royalty on the entire Eskay Creek land package. Half of

that royalty may be repurchased from Barrick during the 24-month period after closing at a cost of $17.5 million.

A contingent payment of $15 million is also agreed upon, which will become active if Skeena sells more than a 50% interest in Eskay Creek during the

GoviEx to appeal cancelled African uranium license ZAMBIA

| Company has 30 days to address government’s decision

BY CECILIA JAMASMIE

G

Mining.com

oviEx Uranium (TSX-V: GXU) says it will appeal Zambia’s decision to terminate its Chirundu mining license.

The company acquired the permit in 2017 from African Energy Resources, and it includes the Njame and Gwabe deposits. Both assets, GoviEx said, were subsequently included in the preliminary economic assessment (PEA) for the company’s Mutanga uranium project.

Due to the smaller scale and higher cost nature of the two deposits, they were scheduled to be mined in the later stages of the PEA and were not included in the mine plan, GoviEx said.

The Vancouver-based uranium explorer said Njame and Gwabe’s exclusion is expected to have low to no impact on the project economics.

Since acquiring the Chirundu mining permit, GoviEx said it had “ensured all statutory reports and payments” were made. It also noted it had expanded its community and social responsibility programs

to cover the villages within the Chirundu licenses, including the reconstruction of a school and the commencement of an adult education program.

“We are disappointed by the decision made by the Mining Cadastre with regards to the Chirundu license and do not believe this decision is fair or in the interests of our Zambian stakeholders,” CEO Daniel Major stated in a news release.

Under the Zambian Mines and Minerals Development Act of 2015, GoviEx has thirty days to appeal the government’s decision.

The news comes only a day after the miner highlighted significant gold anomalies identified near its Falea uranium-copper-silver project in Mali.

The find, the company said, shows the potential extensions of the Sirabaya West and the SiribayaBambadinka gold trends through, and possibly intersecting within, the Falea project. TNM — This article first appeared in our sister publication MINING.com.

24-month period after closing.

News of the Eskay Creek purchase sent Skeena’s stock to a new high of $2.47 per share on the morning of July 6.

Over the last year, Skeena’s shares have traded within a range of 35¢ and

$2.69 per share and at presstime in Toronto were trading at $2.35 per share.

The junior has 171.3 million common shares outstanding for a market cap of about $402.6 million. TNM — This article first appeared in our sister publication, MINING.com.

ScoZinc plans low-cost, open-pit zinc mine near Halifax NOVA SCOTIA

| Concentrate production could begin within 9 to 12 months

BY CANADIAN MINING JOURNAL STAFF

S

coZinc Mining (TSXV: SZM) has released the results of a preliminary feasibility study (PFS) on its wholly owned and permitted Scotia mine project, 62 km northeast of Halifax. The study outlines a 2,700-tonne-per-day open-pit operation, producing zinc and lead concentrates over a 14-year mine life.

The proposed operation would produce an average of 35 million lb. zinc and 15 million lb. lead over five years at all-in sustaining costs (AISCs) of US60¢ per lb. zinc, with a pre-production capital outlay of $30.8 million. The associated after-tax net present value estimate, at an 8% discount rate, stands at $115 million with a 49% internal rate of return.

“The project’s economics are very robust, with relatively low capital requirements and a short payback period, which includes proposed financing costs structured to be greatly non-dilutive to our shareholders,” Mark Haywood, the company’s president and CEO, said in a news release. “On the basis of these very

“THE PROJECT’S ECONOMICS ARE VERY ROBUST, WITH RELATIVELY LOW CAPITAL REQUIREMENTS AND A SHORT PAYBACK PERIOD.” MARK HAYWOOD PRESIDENT AND CEO, SCOZINC MINING

positive PFS results, ScoZinc will be actively pursuing the necessary finance to begin commercial production as soon as possible.”

Haywood added that commercial zinc and lead concentrate production would be able to start within nine to 12 months on a $30 million project financing.

Past production data, combined with recent metallurgical test work for the carbonate-hosted, Mississippi Valley-type lead-zinc deposit, suggest relatively high metal recoveries

and concentrate grades. The latest process design assumes an average zinc concentrate grade of 57% with an average recovery of 86.6% and a lead concentrate grade of 71% with an average recovery of 89.1%.

The ScoZinc mill last operated in 2009 at a rate of 2,200 tonnes per day; the PFS design assumes minor upgrades to the existing circuits to allow the plant to operate at 2,700 tonnes per day.

Scotia Mine is a site on care and maintenance, with half of the existing resource base permitted for mining.

ScoZinc acquired the past-producing site in February 2011. Measured and indicated resources across the Scotia mine total 25.5 million tonnes, grading 1.89% zinc and 0.99% lead, with additional inferred resources of 5 million tonnes at 1.5% zinc and 0.66% lead. These are based on a cutoff grade of 0.9% zinc-equivalent.

The mineral reserves outlined in the PFS total 13.7 million tonnes at 2.03% zinc and 1.1% lead, based on a 1.5% zinc-equivalent cut-off. TNM — This article first appeared in our sister publication, Canadian Mining Journal.

16

WWW.NORTHERNMINER.COM

JULY 20–AUGUST 2, 2020 / THE NORTHERN MINER

Sabina expands drill program at Back River GOLD

| Project resumes operation after temporary shutdown in March

BY CANADIAN MINING JOURNAL STAFF

S

abina Gold & Silver (TSX: SBB; US-OTC: SGSVF) has returned to work at its Back River gold project in Nunavut, with an expanded 8,500-metre drill program planned at the 8-km-long Goose property.

The junior demobilized its exploration camp staff at the project, 520 km northeast of Yellowknife, in March, due to the Covid-19 pandemic, before beginning its planned drill program (at that time a smaller 6,500-metre campaign) for the year.

In light of the virus, Sabina now has a new operational framework in place to safeguard the health of both personnel and local communities.

This year’s drill program will aim to test the continuity of high-grade mineralization at the Umwelt deposit, up-plunge from the deposit’s Vault zone and towards the bottom of the planned Umwelt open pit.

Up to 5,000 metres of infill drilling and expansion drilling will also be conducted at the Llama deposit, below the current resource. Several new targets will also be tested.

“During the 2019 exploration drilling campaign we continued to demonstrate the potential for significant mine life extension at the Goose project and have now delineated an additional 1.2 km of mineralized strike length at Llama underground, the new discovery at Nuvuyak and the emerging highgrade corridor at Umwelt,” said president and CEO Bruce McLeod in a press release.

“This year’s campaign will also enable us to prepare for the significant drilling required to bring these targets into a resource estimate. We are happy to be back in camp and are looking forward to a fruitful field season.”Sabina estimates 32,000 metres of drilling will be needed to delineate an initial inferred resource

A camp on Sabina’s Back River property in Nunavut. SABINA GOLD & SILVER.

for the new discoveries. Bringing them to the indicated level would require 81,000 metres.

The Nuvuyak gold zone, discovered in 2018, is 850 metres west of the main Goose deposit and 1,000 metres down-plunge.

At Umwelt, the company is aiming to gain a better understanding of a

modelled secondary structure that was intersected in previous drilling throughout the plunge length of the deposit. An initial 8-10 holes in this area will be drilled, with the aim of understanding the structure’s role in producing a localized thickened iron formation associated with higher than average gold mineralization,

including 22 metres of 14.97 g/t gold in hole 19GSE569, drilled last year.

Sabina, which closed a $55-million financing in early June, recently received the last major permits needed for operations at Back River. It also has all major construction permits in hand.

The Umwelt, Llama and Goose deposits are all located on the Goose

CMS F r om 6

panel about his company’s projects.

“We’ve been around for many years as a project generator, but last summer we made one of the most exciting gold discoveries in a long time in the Yukon,” Eaton said. “Our flagship property is Mount Hinton and is south of the Alexco ground in the Keno Hill district.”

Activities over the next few months, he said, will focus on improving road access, detailed exploration and mapping, and a 7,000-metre drill campaign.

“Traditionally, we’ve followed the project generator model and been very successful at it,” Eaton said.

“But the reason we’re reluctant to farm it out to other operators is that there are around 75 known vein occurrences, with nearly none of them having been drilled.”

Eaton also talked about how the Mount Hinton deposit could have been missed for so long, given all the exploration going on in the Keno Hill district.

“First and foremost, up until the last few years, the access into the Granite Creek basin has been somewhat restricted and would require four-wheel-drive vehicles,” he explained. “However, this has now significantly improved.”

The Invest Yukon Thought Leadership Panel at the Canadian Mining Symposium on Zoom. Clockwise from top left: Trevor Hall, President, Clear Creek Digital (moderator); Hon. Ranj Pillai, Deputy Premier, Minister of Energy, Mines and Resources, Minister of Economic Development, Government of Yukon; Dr. Paul West-Sells, President and CEO, Western Copper and Gold; W. Douglas Eaton, President, CEO and Director, Strategic Metals Ltd.; and Clynton R. Nauman, Chairman and CEO, Alexco Resource Corp.

Moreover, for most of Keno Hill’s history, he said, the focus was very much on silver, and it wasn’t until the 1970s that prospectors in the district started shifting their focus to gold.

Paul West-Sells, Western Copper and Gold’s president and CEO, talked about the company’s flagship Casino project.

“The Casino copper-gold project is located very close to Newmont’s copper project in the Yukon and contains a large copper-gold porphyry with a total of 18 million ounces of

gold and 10 billion pounds of copper,” West-Sells said.

“Last year we ran an infill program at Casino that hit over 3 metres grading 55 grams gold per tonne, which was in addition to a couple of historic intercepts, with one hitting 50 grams gold and another intercepting 70 grams gold.

“The company has also acquired the Canadian Creek property, to the west of Casino, and has several untested targets, including another porphyry target, West-Sells noted.

The mining executive also talked about whether Western Copper and Gold was currently trading as a gold or copper company.

“We were certainly a gold company when gold was trading at US$1,700 per oz. and copper at US$2.50 per lb., but with copper trading at over US$2.60 per lb., it’s probably 50:50 now,” he said.

The panel also discussed political and regulatory risks associated with operating in the Yukon.

“From a geopolitical standpoint,

property and are part of a 2015 feasibility study for Back River, which outlines a $415-million open pit and underground project that would produce 200,000 oz. gold annually for 12 years. TNM — This article first appeared in our sister publication, the Canadian Mining Journal.

we’re a very secure area, with eleven of our First Nations all holding modern treaty agreements,” Minister Pillai noted. “So that’s a great advantage for companies looking to come into the area and for those looking to invest in the territory.”

The territory, he added, also has a very strong regulatory regime, which the government is looking to improve upon by updating the policy framework around water quality standards, improving management plans, and reclamation enclosure policies for quartz mining.

He also mentioned the Yukon Minerals Development Strategy, which will drive the long-term responsible management of Yukon’s mineral resources and support a healthy mining industry that adheres to high environmental and social standards.

In terms of permitting, Alexco’s Nauman expanded on his experience in securing a water permit.

“The water licensing process in the Yukon is a judicially fair process, and ensures that arguments from both proponents and interveners are heard,” he said, adding that timelines are well understood.

While the process is not as efficient it could be, Nauman added, the Yukon government is aware of the issue and attempting to improve it. TNM

GLOBAL MINING NEWS

THE NORTHERN MINER / J U LY 2 0 – AU GU ST 2 , 2 0 2 0

17

PROFESSIONAL DIRECTORY ASSAYERS

C.F. Mineral Research Ltd. INDEPENDENT SPECIALISTS IN HEAVY MINERAL GEOCHEMISTRY

Diamond Indicator Heavy Minerals Extraction • Precious and Base Metals Extraction • Electron Microprobe Precision Analyses • Diamond Indicator and Mineral Classification • Microdiamond Recovery and Characterisation • High Quality / Low Cost / Quick Turnaround

1677 Powick Road Kelowna, B.C. Canada V1X 4L1

•

TEL: 250-860-8525 FAX: 250-862-9435

INSTRUMENTATION

GEOPHYSICS

— SERVING THE EXPLORATION SECTOR WORLDWIDE SINCE 1977 —

Crone Geophysics

Highest Precision Magnetometers in the World

Worldwide 3D Pulse-EM TDEM, 3D E-SCAN IP/Resistivity Surveys www.cronegeophysics.com

(905) 814-0100

3D Pulse-EM (Time-Domain EM) Borehole and Surface Surveys Coil, Fluxgate or SQUID Sensors High Power, Low noise Step Response

3D E-SCAN (IP/DC Res) Mapping Recon3D , Target3D , HiRes3D Any Topography, any Scale Immediate QC, daily Results Deep, Efficient, Safe

Offering the industry leading precision, absolute accuracy and sensitivity for Optically Pumped Potassium, Overhauser and Proton Precession Magnetometers/Gradiometers with new add-on or standalone VLF-EM systems for resistivity depth sections.

R

R

R

R

UAV - Airborne – Ground Solutions Visit the website or call for a QUOTE today

Leading the World of Magnetics since 1980

DRONEMag™

www.gemsystems.ca

CONSULTING

• info@gemsystems.ca • Tel: +1.905.752.2202 • +1.888.635.1829

Sales and Rentals:

1,800+ CLIENTS 8,000+ PROJECTS 30+ YEARS EXPERIENCE Evaluate

Develop

Improve

Transform

amcconsultants.com

GEOLOGY | MINING ENGINEERING | GEOTECHNICAL | CONSULTING SERVICES

TER R A P LU S I N C. 120 W. Beaver Creek Rd., Unit 15 Richmond Hill, ON, Canada L4B 1L2

GEOLOGICAL & MINING CONSULTANTS

Tel: Fax: E-mail: Website:

• French • English • Spanish • Arabic

(905) 764-5505 (905) 764-8093 sales@terraplus.ca www.terraplus.ca

Magnetometers/VLF Magnetic Susceptibility Conductivity Full Wave 2D/3D IP Borehole Logging TDEM and HLEM Gamma-Ray Spectrometers Infrared Spectrometers Resistivity (ERT) GPR Seismic

418-653-9559

www.goldmindsgeoservices.com

905.477.2800 | info@terraquest.ca terraquest.ca

FIXED WING AND HELICOPTER

REMOTE SITE SERVICES

Gradient Magnetics | Matrix Digital VLF-EM | Radiometrics | GT2A Gravity

Integrity, Competence and Independence www.micon-international.com Toronto

Vancouver

Norwich

Premier Canadian remote site service provider since 1945

International Exploration & Mining Consultants Project generation, design, management Independent reporting|Geophysics|GIS

www.mphconsulting.com +1.416.365.0930

HEALTH & SAFETY

Same Team.

Same Proven Advice.

Expanded Rock Solid Services.

Mining He alth , S afe ty , Sec ur ity & Em er genc y R espon se P r epa r edn ess E Info@memhse.com W www.memsafetytraining.com

1 416 947 0907

H SE gap analy sis, inc id ent r o o t c ause sup p o r t & emer genc y r esp o nse r ead iness.

To r eser v e sp ac e c o ntac t: Joe Crofts: 416-510-6816 To ll f r ee N o r th A mer ic a: 1 - 8 8 8 - 5 0 2 - 3 4 5 6 ( ex t. 4 3 7 2 9 ) jcrofts@northernminer.com

Since 1962

Call (416) 364-6244

wgm.ca

Geological and Mining Consultants

Geological and Mining Consultants I Since 1962

Published by:

Nobody knows Canada like Domco.. over 70 Years of Canadian experience

www.domcofoodservices.com Toronto: (416) 449-7333 Vancouver: 604-692-2870 Montreal: 450-813-9229 Yellowknife: 867-766-4222 Sept-Iles: 418-962-2327

Learn more at www.rpacan.com | www.slrconsulting.com

Trusted Advisors to the Global Mineral Resource Industry

• Canadian remote site service providers since 1945.

• Camp management, on site catering, hotel style housekeeping, janitorial and groundskeeping.

• Indigenous partnerships – Community Benefits • Excellent site safety record.

• Skills Training Programs

Fax : 4 1 6 - 4 4 7 - 7 6 5 8

SURVEYORS & CORE SYSTEMS JEAN-LUC CORRIVEAU, Q.L.S., CLS LAND & MINING SURVEYORS – 3D SCANNING

GYRO (Shaft plumbing), underground control, photogrammetric mapping (Airborne Lidar & photos by drone), borehole & bathymetric surveys Scanning of flooded cavities by sonar • Surface and underground inspections by drone

1085, 3rd Avenue West, Val-d’Or (Quebec) J9P 1T5 • Tel: (819) 825-3702 Fax: (819) 825-2863 • E-mail: bureau@corriveaujl.com • www.corriveaujl.com

MAKE SENSE OF THE MINING INDUSTRY Trusted Advisors to the Global Mineral Resource Industry

Mining Explained is a 164-page reference manual (written in layman’s language) that includes the following chapters: Basic Geology • Ore Deposits • High-Tech Prospecting Sampling & Drilling • Mining Methods • Processing Ore • Mining & the Environment • The Mining Team • The Business of Mining • Feasibility: Does it Pay? • Metal Markets • Making Sense of the Numbers • Investing in Mining • Glossary of Mining Terms

Now Available in Spanish

Or d er Yo ur Co p y To d ay !

Call 1 - 8 8 8 - 5 0 2 - 3 4 5 6 or email inf o @ no r th er nminer . c o m

18

WWW.NORTHERNMINER.COM

JULY 20–AUGUST 2, 2020 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / JULY 6 – JULY 10 The S&P/TSX Composite Index rose 0.75% to 15,713.82 during the July 6-10 trading week.

The S&P/TSX Global Mining Index rose 5.06% to 95.05, and the S&P/TSX Global Base Metals Index climbed 8.12% to 99.07. Spot gold jumped US$24.20 per oz., or 1.36%, to US$1,798.60 per oz., and the S&P/TSX Global Gold Index rose 5.55% to 358.9.

Steppe Gold (TSX: STGO) rose by 35.5% to $2.71 per share. The company updated investors on its ATO gold mine in Mongolia, which started commercial production in the second quarter and has as of July 6 sold 15,389 oz. gold and 4,978 oz. silver in six separate deliveries.

Steppe says it is on track to produce about 60,000 oz. gold in its first year of production at cash costs of about US$500 per oz. In other news, it announced a $15 million strategic investment by Eric Sprott. The financier acquired 6.98 million subscription receipts in a non-brokered private placement at $2.15 per receipt. In addition to its ATO mine in eastern Mongolia, the company is advancing its Mungu gold and silver discovery northeast of ATO and its Udam Khundi property, about 800 km southwest of the capital, Ulaanbaatar.

Shares of Canarc Resource (TSX: CCM; USOTC: CRCUF) rose by 30% to 13¢ per share.

The company has optioned its Lightning Tree gold property in Idaho to Minkap Resources

(TSXV: KAP). Under a non-binding letter of intent, Minkap has the option to acquire a 100% stake in Canarc’s Lightning Tree property in Lemhi County, Idaho. Lightning Tree is one of 11 properties Canarc acquired in 2017 and the fourth one it has optioned out to third parties interested in its Nevada/ Idaho portfolio of assets. The Lightning Tree property consists of four unpatented claims lying along the regional, northeast-trending Trans-Challis structural zone and is situated about 25 km southwest of the Beartrack deposit and 70 km northeast of the Grouse Creek deposit.

Erdene Resource Development (TSX: ERD; US-OTC: ERDCF) rose to 52¢, up 30%. The company announced drill results from the TSX MOST ACTIVE ISSUES VOLUME (000s) HIGH

St Augustine Kinross Gold B2Gold Corp Suncor Energy First Quantum Barrick Gold Freegold Vent Yamana Gold Northcliff Res IAMGOLD

SAU K BTO SU FM ABX FVL YRI NCF IMG

35298 25084 23238 19493 18813 16311 15084 14387 12207 12086

0.15 10.51 8.23 23.56 13.50 37.90 1.54 7.76 0.04 6.31

WEEK LOW CLOSE CHANGE

0.03 9.67 7.50 21.26 10.81 35.71 1.11 7.18 0.03 5.55

0.07 10.34 8.07 21.95 13.45 36.82 1.36 7.49 0.03 6.13

+ + + + + + + + +

0.05 0.65 0.59 0.75 2.79 1.27 0.07 0.26 0.01 0.49

Midfield Southeast zone at the company’s 100%-owned Bayan Khundii gold project, located within the Khundii Gold district in southwestern Mongolia. Highlights from the drilling included 5.5 metres grading 125.9 grams gold per tonne, with a high-grade core of 1 metre grading 581.63 grams gold, starting from 11.5 metres downhole, and 15 metres grading 25.6 grams gold, including 1 metre

grading 338 grams gold, from 14.9 metres downhole. The project contains measured and indicated resources of 5.1 million tonnes grading 3.16 grams gold for 521,000 oz. of contained gold. Inferred resources add 0.9 million tonnes grading 3.68 grams gold for 103,000 oz. of gold. Resources quantities are based on a cut-off grade of 0.55 gram gold per tonne. TNM TSX GREATEST VALUE CHANGE

TSX GREATEST PERCENTAGE CHANGE VOLUME (000s) HIGH

St Augustine Goldgroup Mng Amerigo Res Silver Bear Rs Steppe Gold EurOmax Res Canarc Res Erdene Res Dev Sulliden Mng First Quantum Horizonte Mnls Argonaut Gold Forsys Metals Maya Gold &Sil Titan Mining Black Iron Yorbeau Res Ur-Energy Mountain Prov Nevada Copper

SAU GGA ARG SBR STGO EOX CCM ERD SMC FM HZM AR FSY MYA TI BKI YRB URE MPVD NCU

VOLUME (000s)

WEEK LOW CLOSE CHANGE

35298 0.15 0.03 2578 0.04 0.03 833 0.51 0.35 3266 0.21 0.12 1954 2.95 1.95 294 0.05 0.03 5685 0.15 0.11 6471 0.65 0.40 1366 0.10 0.07 18813 13.50 10.81 215 0.07 0.00 11721 2.96 2.47 106 0.15 0.13 398 1.57 1.29 321 0.21 0.18 1748 0.11 0.10 556 0.06 0.06 109 0.74 0.67 299 0.32 0.28 3637 0.22 0.18

0.07 0.04 0.51 0.19 2.71 0.04 0.13 0.52 0.09 13.45 0.06 2.54 0.13 1.29 0.18 0.10 0.06 0.67 0.29 0.19

+ 225.0 + 60.0 + 47.8 + 46.2 + 35.5 + 33.3 + 30.0 + 30.0 + 28.6 + 26.2 - 15.4 - 14.8 - 13.3 - 12.8 - 12.2 - 9.1 - 8.3 - 8.2 - 8.1 - 7.5

Franco-Nevada Kirkland Lake Wheaton Prec M Pan Am Silver Agnico Eagle First Quantum SSR Mining Labrador IOR Eldorado Gold Newmont Corp Aura Minerals Nutrien Suncor Energy Argonaut Gold NovaGold Res Maya Gold &Sil Americas Silvr Trilogy Mtls Ur-Energy Anglo Pac Grp

FNV KL WPM PAAS AEM FM SSRM LIF ELD NGT ORA NTR SU AR NG MYA USA TMQ URE APY

2336 8042 4646 3431 2776 18813 2305 1036 6790 642 20 8982 19493 11721 2963 398 4453 105 109 1

WEEK CLOSE

194.63 62.37 63.41 44.04 88.40 13.45 30.54 26.18 15.13 84.23 182.00 43.16 21.95 2.54 12.00 1.29 3.31 2.63 0.67 2.77

CHANGE

+ + + + + + + + + + -

8.48 6.20 4.95 4.09 3.70 2.79 2.44 2.22 2.12 1.89 8.00 1.48 0.75 0.44 0.36 0.19 0.10 0.06 0.06 0.06

TSX VENTURE EXCHANGE / JULY 6 – JULY 10 The S&P/TSX Venture Composite Index rose by 8.17% to finish the trading week at 684.71.

Spot gold closed at US$1,798.60 per oz. on July 10, a rise of US$24.20 per oz. or 1.36%.

Shares of Vizsla Resources (TSXV: VZLA) jumped by 148% to $2.50 per share. The company announced a $25 million bought deal financing with Canaccord Genuity, which will purchase 13.37 million units of the company at $1.87 per unit. Each unit consists of one common share and one common share purchase warrant, with each warrant entitling the holder to buy one common share at $2.40 for a 24-month period. The underwriters have an option to acquire an additional 2.67 million units, which if exercised, will generate an additional $5 million. Eric Sprott has agreed to purchase $10 million of the offering, raising his stake in the company to 11.3% on a partially diluted basis.

Avidian Gold’s (TSXV: AVG) shares rose by 103.45% to 29.5¢ per share. The company announced a non-brokered private placement at 10¢ per unit for gross proceeds of up to $2.5 million, with each unit comprising one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire shares at 14¢ for 24 months. Eric Sprott is acquiring 20 million units in the offer-

ing for $2 million, and will subsequently own about 16.75% of the company on a non-diluted basis and about 28.69% on a partially diluted basis assuming exercise of the warrants. Net proceeds will be used to develop Avidian Gold’s properties and for general and administrative expenses. The company’s100%-owned Golden Zone gold-silver-copper property, located about 320 km north of Anchorage in Alaska, contains indicated resources of 4.19 million tonnes grading 1.99 grams gold per tonne and 10.38 grams silver per tonne for 267,400 oz. of contained gold and 1.40 million oz. of silver. Other projects include the Amanita gold property in Alaska, which is adjacent to Kinross Gold’s Fork Knox gold mine, and TSX-V MOST ACTIVE ISSUES VOLUME (000s) HIGH

Enduro Metals ENDR Uragold Bay Rs HPQ MacDonald Mns BMK Benton Res BEX Strikepoint Gd SKP Copper Lake Rs CPL American Lith LI Pistol Bay Mng PST District Cop DCOP Vizsla Res VZLA

24029 23994 15798 15448 15102 14239 13966 13429 13021 12793

0.38 0.45 0.14 0.30 0.18 0.03 2.47 0.05 0.03 2.93

WEEK LOW CLOSE CHANGE

0.25 0.28 0.09 0.12 0.09 0.01 0.91 0.03 0.02 0.95

0.27 + 0.36 + 0.10 0.21 + 0.14 + 0.02 + 2.35 + 0.04 + 0.02unch 2.50 +

0.07 0.08 0.03 0.08 0.05 0.01 1.45 0.01 0.00 1.57

the Jungo gold-copper property in Nevada.

Shares of K92 Mining (TSXV: KNT; USOTC: KNTNF) rose to $4.68 per share, up 14.15%, following record second-quarter production of 25,762 ounces of gold, 531,406 pounds of copper, and 10,867 oz. of silver for a total of 26,847 gold-equivalent oz. at its Kainantu underground mine in Papua New

Guinea. The result was a 37% increase from the second quarter of 2019. The company also achieved record throughput at the mill of 49,311 tonnes, a 30% year-on-year increase, despite lower running times due to Covid-19.

The company currently has three surface and three underground diamond drill rigs operating at site. TNM TSX-V GREATEST VALUE CHANGE

TSX-V GREATEST PERCENTAGE CHANGE VOLUME (000s) HIGH

Phoenix Gold American Uran Vizsla Res American Lith Avidian Gold Chakana Copper El Nino Vent Condor Res Noble Metal Prism Res Arcturus Vent Clydesdale Res BTU Metals CROPS Green Swan Cap DV Resources Aguila Amer Gd Hudson Res MetalCorp Tri Origin Exp

PXA AUM.H VZLA LI AVG PERU ELN CN NMG.H PRS MILE CEO.H BTU COPS CBLT DLV.H AGL HUD MTC TOE

72 3 12793 13966 8858 2165 729 4805 170 144 549 22 9165 2980 161 685 14 164 368 2239

0.05 0.05 2.93 2.47 0.33 0.55 0.07 0.44 0.01 0.04 0.20 0.05 0.28 0.03 0.02 0.17 0.30 0.12 0.03 0.06

VOLUME (000s)

WEEK LOW CLOSE CHANGE

0.01 0.00 0.95 0.91 0.13 0.25 0.04 0.19 0.01 0.03 0.10 0.03 0.20 0.00 0.00 0.12 0.21 0.09 0.02 0.04

0.05 0.05 2.50 2.35 0.30 0.55 0.07 0.39 0.01 0.03 0.10 0.03 0.25 0.01 0.02 0.12 0.23 0.09 0.02 0.05

+ 350.0 + 233.3 + 168.8 + 161.1 + 145.8 + 129.2 + 116.7 + 108.1 + 100.0 + 100.0 - 44.4 - 40.0 - 35.5 - 33.3 - 33.3 - 29.4 - 25.0 - 25.0 - 25.0 - 25.0

Vizsla Res American Lith Integra Res EMX Royalty K92 Mining Skeena Res Aurania Res Fortune Bay Pure Gold Mg Cantex Mn Dev Artemis Gold Fosterville Teuton Res Abitibi Royal Universal Vent Kore Mining GT Gold Turmalina Met West Vault Rupert Res

VZLA LI ITR EMX KNT SKE ARU FOR PGM CD ARTG FSX TUO RZZ MCLD KORE GTT TBX WVM RUP

WEEK CLOSE

12793 2.50 13966 2.35 784 5.52 413 3.91 6534 4.68 4783 2.62 387 3.50 792 1.40 10765 2.21 484 1.45 921 4.12 1920 4.10 1321 2.67 14 21.30 489 3.08 1983 1.42 7833 1.78 2490 1.44 92 1.25 927 3.33

CHANGE

+ + + + + + + + + + -

1.57 1.45 0.87 0.83 0.65 0.63 0.55 0.51 0.51 0.49 0.95 0.78 0.63 0.50 0.48 0.36 0.29 0.26 0.25 0.25

U.S. MARKETS / JULY 6 – JULY 10 The Dow Jones Industrial Average rose 0.96% to 26,075.30 and the S&P 500 rose 1.76% to 3,185.04 during the July 6-10 trading week.

Spot gold jumped US$24.20 per oz., or 1.36%, to US$1,798.60 per ounce.

Hecla Mining (NYSE: HL) rose by 26.02% to US$4.02 per share following preliminary production results for the second quarter from its Greens Creek mine in Alaska, Lucky Friday in Idaho, San Sebastian in Mexico, Casa Berardi in Quebec, and the Fire Creek, Hollister, and Midas mines in Nevada. The company reported total production of 3.4 million ounces of silver and 59,982 ounces of gold for silver equivalent production of 12.5 million oz. or gold equivalent production of 119,037 ounces. Production guidance for 2020 is 10.9 million to 11.8 million oz. of silver and 195,000 to 208,000 oz. of gold. The company produced 6.6 million oz. of silver and 119,037 oz. of gold during the first six months of the year. Hecla also noted that it has reduced its borrowing under a revolving credit facility from US$200 million to US$50 million. Currently it has about US$76 million in cash.

Eldorado Gold’s (TSX: ELD; NYSE: EGO) shares rose by 15.9% to US$11.15 per share.

The Vancouver-headquartered company, which owns mines in Turkey, Greece and Canada,

reported preliminary total production in the second quarter of 137,782 ounces of gold, a 50% year-on-year increase.

Shares of Kirkland Lake Gold (TSXV: KL; NYSE: KL) rose to $62.37 per share, up 11.04%.

The company announced second-quarter production totalling 329,770 ounces of gold, an increase of 115,177 oz. or 54% from the same period in 2019. For the year-to-date, the company has produced 660,634 oz. of gold, an increase of 214,162 ounces or 48% higher than it produced during the first half of 2019.

In light of the Covid-19 outbreak, Kirkland revised its production guidance for 2020 in June and it now stands at 1.35 to 1.4 million U.S. MOST ACTIVE ISSUES VOLUME (000s) HIGH

Freeport McMoR* FCX138290 1.48 Vale* VALE 104455 10.91 Yamana Gold* AUY 78778 5.73 Kinross Gold* KGC 78148 7.79 Barrick Gold* GOLD 65366 28.05 Hecla Mining* HL 65223 4.03 Cleveland-Clif* CLF 63635 5.77 United States S* X 62394 7.38 Harmony Gold* HMY 58196 5.97 Newmont Corp* NEM 43119 64.54

WEEK LOW CLOSE CHANGE

13.10 11.9012.98+

10.47 10.79 + 0.38 5.30 5.51 + 0.16 7.14 7.63 + 0.46 26.35 27.11 + 0.84 3.19 4.02 + 0.83 4.92 5.74 + 0.34 6.58 7.36 + 0.29 4.60 5.82 + 1.31 60.50 61.88 + 0.92

oz. of gold. At the end of June Kirkland had a cash position of US$537 million and no debt.

Freeport-McMoran’s (NYSE: FCX) shares rose by 12.78% to US$12.97. The company updated investors on July 6 about its revised operating plans due to the outbreak of the coronavirus. Freeport said it expects its copper sales in the second quarter of the year will

exceed its estimate in April of 690 million lbs. by about 8%. It forecasts that its gold sales will also surpass its April estimate of 165,000 ounces by about 10%. At a copper price of US$2.54 per lb., Freeport forecasts its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in the second quarter would come in at about US$650 million. TNM

U.S. GREATEST PERCENTAGE CHANGE Harmony Gold* Hecla Mining* Coeur Mng* Endeavr Silver* Eldorado Gold* HudBay Min* Gold Fields* Freeport McMoR* IAMGOLD* Alamos Gold* Intrepid Pots* Natural Res Pt* Trecora Res* Mosaic* CONSOL Energy* Arch Coal* Suncor Energy* Chevron Corp* NACCO Ind* Nutrien*

HMY HL CDE EXK EGO HBM GFI FCX IAG AGI IPI NRP TREC MOS CNX ARCH SU CVX NC NTR

VOLUME (000s) HIGH

58196 65223 40094 21694 15229 5648 41652 138290 22755 18215 4057 101 219 20026 16998 1481 21893 33608 99 6970

5.97 4.03 5.87 2.66 11.27 3.46 10.68 13.10 4.67 10.57 0.99 12.47 6.24 13.35 9.52 31.26 17.41 90.25 25.23 33.54

U.S. GREATEST VALUE CHANGE

WEEK LOW CLOSE CHANGE

4.60 3.19 4.80 2.21 9.70 2.95 9.30 11.90 4.09 9.41 0.76 10.86 5.36 11.51 8.16 26.97 15.65 82.50 22.49 30.56

5.82 4.02 5.69 2.61 11.15 3.39 10.47 12.98 4.49 10.27 0.78 11.33 5.71 12.30 8.43 28.38 16.14 85.21 22.84 31.76

+ + + + + + + + + + -

29.0 26.0 17.3 17.0 15.9 14.1 12.9 12.9 12.3 10.4 17.5 8.6 6.4 4.3 3.9 3.7 3.6 3.5 2.5 2.5

VOLUME (000s)

Franco-Nevada* FNV Kirkland Lake* KL Wheaton Prec M* WPM Southern Copp* SCCO Rio Tinto* RIO Agnico Eagle* AEM AngloGold Ash* AU Eldorado Gold* EGO Freeport McMoR* FCX Black Hills* BKH MartinMarietta* MLM Chevron Corp* CVX Arch Coal* ARCH Natural Res Pt* NRP Nutrien* NTR Suncor Energy* SU NACCO Ind* NC Mosaic* MOS Trecora Res* TREC CONSOL Energy* CNX

3877 14133 11892 4819 10745 6283 17277 15229 138290 2461 2530 33608 1481 101 6970 21893 99 20026 219 16998

WEEK CLOSE

143.00 45.81 46.64 41.66 58.90 64.97 31.12 11.15 12.98 59.92 210.19 85.21 28.38 11.33 31.76 16.14 22.84 12.30 5.71 8.43

CHANGE

+ + + + + + + + + + -

6.22 4.13 3.35 2.75 2.61 2.14 2.14 1.53 1.48 1.38 3.30 3.10 1.08 1.07 0.80 0.60 0.59 0.55 0.39 0.34

GLOBAL MINING NEWS · SINCE 1 9 1 5

THE NORTHERN MINER / J U LY 2 0 – AU GU ST 2 , 2 0 2 0

M E TA L S , M I N I N G A N D LME WAREHOUSE LEVELS

PRODUCER AND DEALER PRICES

Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, July 09 2020 (change from July 02, 2020 in brackets): Aluminium Alloy 6540 (0) Aluminium 1632675 (-1100) Copper 185200 (-25500) Lead 61725 (-4075) Nickel 234672 (+360) Tin 3920 (+440) Zinc 121775 (-750)

Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$50.75 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$12.00 Cobalt: US$12.93/lb.

Copper: US$2.87/lb.

Copper: CME Group Futures August 2020: US$2.92/lb.; September 2020: US$2.93/lb Iridium: NY Dealer Mid-mkt US$1,645.00/tr oz.

Iron Ore 62% Fe CFR China-S: US$111.90 Lead: US$0.84/lb.

Phosphate Rock: US$86.00/tonne Potash: US$226.00/tonne Rhodium: Mid-mkt US$8,750.00 tr. oz.

Ruthenium: Mid-mkt US$270.00/tr. oz.

Silver: Handy & Harman Base: US$19.24 per oz.; Handy & Harman Fabricated: US$24.05 per oz.

Tin: US$7.75/lb.

Uranium: U3O8, Trade Tech spot price: US$33.00 per lb.U3O8 Zinc: US$0.97/lb.

Prices current July 14, 2020

M O N EY

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

Jul 09 15568.64 671.96 935.68 362.55 302.33

Jul 08 15629.19 664.80 939.19 362.31 303.13

Jul 07 15595.50 651.66 937.72 354.51 294.58

Jul 06 15669.67 644.99 942.24 344.81 287.99

High 17970.51 685.39 1070.48 371.89 307.49

Low 11172.73 330.65 683.81 173.42 140.55

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Jun 30, 2020 (with changes from Jun 15, 2020) Largest short positions Suncor Energy SU 21364423 5352164 6/15/2020 Barrick Gold ABX 17169065 2003160 6/15/2020 Kinross Gold K 14289367 2911571 6/15/2020 Teck Res TECK.B 12670924 497399 6/15/2020 Ivanhoe Mines IVN 12669475 -778574 6/15/2020 New Gold NGD 12525917 -2566040 6/15/2020 Nexgen Energy NXE 12387863 395621 6/15/2020 Premier Gold M PG 11824438 -269492 6/15/2020 Yamana Gold YRI 10621896 -1757447 6/15/2020 First Quantum FM 10091028 988461 6/15/2020 Fortuna Silvr FVI 9340279 -227109 6/15/2020 Wheaton Prec M WPM 9106336 1171098 6/15/2020 OceanaGold OGC 8340113 277720 6/15/2020 Fission Uran FCU 7564573 1973395 6/15/2020 Argonaut Gold AR 7256232 -897967 6/15/2020 Largest increase in short position Suncor Energy SU 21364423 5352164 6/15/2020 Freegold Vent FVL 3590966 2972934 6/15/2020 Kinross Gold K 14289367 2911571 6/15/2020 Barrick Gold ABX 17169065 2003160 6/15/2020 Fission Uran FCU 7564573 1973395 6/15/2020 Largest decrease in short position Guyana Gldflds GUY 2418418 -4100663 6/15/2020 New Gold NGD 12525917 -2566040 6/15/2020 Nutrien NTR 1758098 -2320488 6/15/2020 Silvercorp Met SVM 3396420 -2250551 6/15/2020 Yamana Gold YRI 10621896 -1757447 6/15/2020

Short positions outstanding as of Jun 30, 2020 (with changes from Jun 15, 2020) Largest short positions Mako Mining MKO 3372247 3305497 6/15/2020 Anfield Energy AEC 2380911 2214967 6/15/2020 Cordoba Mnls CDB 2091200 1745437 6/15/2020 Discovery Met DSV 1979287 52610 6/15/2020 New Pac Metals NUAG 1944284 -47033 6/15/2020 Minaurum Gold MGG 1837191 -21418 6/15/2020 Ely Gold Royal ELY 1815207 224625 6/15/2020 Great Bear Res GBR 1788373 668519 6/15/2020 Eclipse Gold EGLD 1653588 1615192 6/15/2020 Manitou Gold MTU 1380459 964601 6/15/2020 Leeta Gold HIVE 1266043 82316 6/15/2020 Uragold Bay Rs HPQ 1120188 925869 6/15/2020 BTU Metals BTU 1074193 878782 6/15/2020 Galleon Gold GGO 971252 -182928 6/15/2020 Turmalina Met TBX 968759 684991 6/15/2020 Largest increase in short position Mako Mining MKO 3372247 3305497 6/15/2020 Anfield Energy AEC 2380911 2214967 6/15/2020 Cordoba Mnls CDB 2091200 1745437 6/15/2020 Eclipse Gold EGLD 1653588 1615192 6/15/2020 Manitou Gold MTU 1380459 964601 6/15/2020 Largest decrease in short position QMX Gold QMX 96500 -2287100 6/15/2020 Cache Explor CAY 12767 -1231233 6/15/2020 Gold Rush Cari GDBO 423 -1179342 6/15/2020 Aurcana Corp AUN 407872 -1006431 6/15/2020 Millrock Res MRO 136345 -983706 6/15/2020

DAILY METAL PRICES Daily Metal Prices Date July 10 July 09 July 08 July 07 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) Al Alloy 1205/1205 11180.50/1180 1150/1150 1180/1180 Aluminum 1639.50/1669 1659.50/1687 1619/1651 1596.50/1630 Copper 6322.50/6320 6339.50/6339.50 6194/6197.50 6086/6089 Lead 1842/1851 1817.50/1828.50 1819.50/1831.50 1779/1792.50 Nickel 13070/13108 13425/13478 13415/13465 13231/13286 Tin 17080/16958 17455/17328 17126/17026 17110/17060 Zinc 2145.50/2156.50 2132.50/2145 2094.50/2107 2023.50/2035.50 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.)

Gold AM 1805.75 1812.45 1799.35 Gold PM 1803.10 1812.10 1811.10 Silver 18.77 18.84 18.49 Platinum 835.00 856.00 844.00 Palladium 1944.00 1970.00 1940.00

1775.50 1789.55 18.02 830.00 1920.00

July 06 1214/1210 1573/1590.50 5825/5846 1763.50/1778.59 12625/12692 16930/16822 2070/2067 1774.40 1787.90 18.26 827.00 1925.00

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

Jul 10 1.3593 0.7357

Jul 09 1.3585 0.7361

Exchange rates (Quote Media, July 10, 2020) C$ to AUS C$ to EURO 1.0585 0.6513 C$ to UK Pound C$ to China Yuan 0.5826 5.1538 US to AUS US to EURO 1.4393 0.8853 US to UK Pound US to China Yuan 0.7923 7.0018

Jul 08 1.3520 0.7397

Jul 07 1.3606 0.7349

C$ to YEN 78.6700 C$ to India Rupee 55.3478 US to YEN 106.9200 US to India Rupee 75.1587

Jul 06 1.3538 0.7386 C$ to Mex Peso 16.5136 C$ to Swiss Franc 0.6923 US to Mex Peso 22.4510 US to Swiss Franc 0.9412

C$ to SA Rand 12.3413 C$ to S. Korea Won 883.1717 US to SA Rand 16.7724 US to S. Korea Won 1200.6200

CANADIAN GOLD MUTUAL FUNDS FundName BMO Prec Mtls Fd A BMO ZGD BMO ZJG CIBC Prec Metal Fd A Dyn Prec Metls Fd A Harvest HGGG Horizons HEP IG MacGbPreMetCl A iShares XGD Mac Prec Met Cl A NBI PrecMetFd Invt NPT Go&PrMinFd A NPT SilverEquCl A RBC GblPreMetFd A Sentry Pre Met Fd A TD Prec Mtl Fd Inv

Jul 10 ($) 30.95 85.28 82.85 17.39 14.09 35.40 36.91 16.45 22.40 78.99 22.99 60.80 9.35 64.66 57.47 58.96

Jul 03 ($) 29.13 78.37 77.69 16.36 13.11 33.55 34.95 15.55 21.22 74.52 21.58 56.42 8.64 60.87 55.54 55.72

Change ($) 1.82 6.91 5.16 1.03 0.98 1.85 1.97 0.90 1.18 4.46 1.41 4.38 0.72 3.80 1.93 3.24

Change (%) 6.26 8.82 6.64 6.33 7.48 5.53 5.62 5.81 5.54 5.99 6.53 7.76 8.29 6.23 3.47 5.81

YTDChange (%) 28.72 25.47 25.64 33.06 49.33 35.85 20.86 35.08 32.59 35.28 31.93 41.26 30.98 36.64 40.99 31.90

MER (%) 2.41 0.61 0.60 2.43 2.73 0.94 0.83 2.68 0.61 2.52 2.46 3.19 2.98 2.13 2.32 2.26

TotalAssets (M$) 62.85 222.80 114.55 67.46 641.57 5.87 43.30 1412.06 83.17 39.76 497.57 281.41 165.18

GLOBAL MINING NEWS · SINCE 1915

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.

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.

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.

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

Equinox Gold Corp (EQX.WT) - One warrant to purchase one common share at $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 $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.

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.

Orezone Gold Corporation (ORE.WT) One warrant to purchase one common share at $0.80 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 JULY 6-JULY 10, 2020 525 New Highs

Adamera Min* Adventus Adventus* Affinity Metal* Alacer Gold Alamos Gold Alamos Gold* Alianza Min Alianza Min* Allegiant Gold Allegiant Gold* Alpha Lithium Alpha Lithium* Altamira Gold Altamira Gold* Alto Ventures Amarillo Gold Amarillo Gold* American Creek* American Lith American Lith* American Pac Amex Expl Amex Expl* Anaconda Mng Anaconda Mng* Angel Gold AngloGold Ash* Antler Gold Antler Gold * Apollo Gold Arbor Metals Arcus Dev Grp* Arcwest Explor* Argo Gold Argo Gold* Argonaut Gold* Artemis Gold* Asante Gold Asante Gold* Ascot Res Ascot Res * Ashanti Sanko* Aura Minerals* Auramex Res AurCrest Gold Aurelius Min Aurelius Min* Auryn Resource Auryn Resource* Avidian Gold Avino Silver B2Gold Corp B2Gold Corp* Bankers Cobalt Bankers Cobalt* Baselode Egy Batero Gold Batero Gold* Battle North BCM Res* Bear Creek Mng Bell Copper Bell Copper* BeMetals BeMetals * Benchmark Met Benchmark Met* Benton Res Benton Res* Black Sea Black Sea * Blackrock Gold Blackrock Gold* Blue Star Gold* Bluestone Res Bluestone Res* Boreal Metals Boreal Metals * Boundary Gold Boundary Gold* Brigadier Gold Brigadier Gold* Bullfrog Gold BWR Explor Cabral Gold Cache Explor Cadence Min* Caldas Gold

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

the Issuer at $2.21 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 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 Osisko Gold Royalties (OR.WT) - Wt buys sh @ $36.5 to Feb 18/22 Platinum Group Metals Ltd. (PTM.WT.U) -

TSX VENTURE WARRANTS 52-week

Jul 10 15713.82 684.71 945.35 358.97 302.33

MARK ETS TSX WARRANTS

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

19

Calibre Mng Canarc Res Canarc Res* Canasil Res Candente Coppr Candente Gold Candente Gold* Canstar Res Canstar Res* Capstone Mng Cardero Res Cariboo Rose Carrara Explor Cartier Res Cartier Res* Castle Peak Mg Centerra Gold Central Tim Ex Cerro Grande Chakana Copper Chakana Copper* Clydesdale Res CMC Metals CMC Metals* Commander Res Commander Res* Comstock Mtls * Condor Res Condor Res* Confedertn Ml* Confedertn Mls Conquest Res Cons Woodjam Copper Fox Mtl Copper Fox Mtl* Copper Lake Rs Copper North M Copper North M* Copperbank Res Coral Gold * CR Capital Cypress Dev Cypress Dev* Dajin Lithium* Dajin Res Decade Res* Deep-South Res* Desert Mtn Egy District Cop District Metal Doubleview Gld Doubleview Gld* DRDGOLD* Dundee Prec Mt Durango Res Dynasty Gold Edgewater Expl* El Nino Vent El Nino Vent* Eldorado Gold Eloro Res Eloro Res* EMX Royalty EMX Royalty* EnCore Energy Endeavour Mng Endurance Gold* Engineer Gold Equinox Gold Equinox Gold* Equity Metals Equity Metals* Erdene Res Dev Erdene Res Dev* Eskay Mng Eskay Mng* Evergold ExGen Res Inc Fabled Copper Falco Res Falco Res * Falcon Gold FenixOro Gold FenixOro Gold* Fidelity Min* Fiore Gold Fiore Gold* First Mexican First Mexican* First Mg Fin

First Mg Fin * Fjordland Exp* Fort St James* Fortescue Met* Fortuna Silvr Fortuna Silvr* Fortune Bay Fortune Bay* Freegold Vent Fremont Gold Fresnillo plc* Gaia Metals* Galane Gold Galane Gold * Galiano Gold Galiano Gold* Galway Mtls Galway Mtls* Generic Gold Getchell Gold Globex Mng Globex Mng* GMV Minerals* GoGold Res Gold Fields* Gold Lion Res* Golden Goliath Golden Hope Golden Pursuit* Golden Ridge Golden Tag Golden Valley* GoldHaven Res* GoldQuest Mng Goldsource Min Goldsource Min* Goliath Res* GR Silver GR Silver* Gran Colombia* Granada Gold Granada Gold* Grande Portage Grande Portage* Graphite Egy* Great Thunder* Greencastle Rs Grizzly Discvr Grizzly Discvr* GT Gold GT Gold * Handeni Gold* Hannan Metals Hannan Metals* Harfang Explor* Harmony Gold* Harvest Gold Harvest Gold* Heatherdale Rs Hecla Mining* Hemlo Expl Hemlo Expl* High Point Exp IAMGOLD IAMGOLD* Iconic Mnls Iconic Mnls * IMPACT Silver Integra Res Integra Res* Intl Millm Mng Intl Montoro Intl Montoro* Intl Prospect Intl Prospect * Intl Tower Hil Intl Tower Hil* INV Metals INV Metals* Jaguar Mng Jaguar Mng* Jayden Res Jayden Res* Jiulian Res K2 Gold K92 Mining K92 Mining* Karam Min Kesselrun Res Kincora Copper*

Kings Bay Res* Kinross Gold* Klondike Silv Klondike Silv* Kombat Copper Kootenay Silvr* Kore Mining Kore Mining * Labrador Gold* Lovitt Res Lovitt Res* Lumina Gold Lundin Mng MAG Silver Major Precious Makara Mining Maple Gold Maple Gold* Marathon Gold Marathon Gold* Margaux Res* Maritime Res MDN Inc* Metallic Mnrls Metallic Mnrls* Metals Creek Metals Creek* Millrock Res Millrock Res* Minera Alamos * Monarch Gold Monarch Gold* Mountain Boy Mountain Boy* Musgrave Min* Navis Res Corp* Nevada Sunrise Nevada Sunrise* New Egy Min* New Jersey Mng* New Oroperu New Placer New Placer* New World Res* NewRange Gold NewRange Gold* NGEx Minerals* Niobay Metals Norsemont Cap Norsemont Cap* Northisle C&G Northisle C&G * Novo Res Novo Res* Nrthn Lion Nrthn Lion* Nrthn Shield Nrthn Superior Nrthn Superior* Nrthn Vertex Nrthn Vertex* NSGold Nthn Dynasty Nthn Dynasty* Nubian Res NuLegacy Gold NuLegacy Gold* NV Gold NV Gold* NxGold Ltd NxGold Ltd* Oceanus Res Oceanus Res* Omineca Mining Omineca Mining* Opus One Res Orea Mining Orea Mining* Orestone Mng Orezone Gold Orezone Gold* Origin Gold Orla Mng Ltd Orla Mng Ltd* Oroco Res Oroco Res* Orsu Metals* Osino Res OZ Minerals* Pac Ridge Expl

Pac Ridge Expl* Pacific Empire Palayan Res* Pan Am Silver Pan Am Silver* Pancontinental* Para Resources Pelangio Expl Pelangio Expl* Perseus Mng Pershimex Res Pinecrest Res Platinex Inc* Playfair Mng Playfair Mng* Portage Res* Portofino Res* Prime Mining Prime Mining* Project One Prospero Silvr Pure Energy Pure Energy* Pure Gold Mg Pure Gold Mg* QMX Gold QMX Gold* Quaterra Res Quaterra Res* Rackla Metals Radisson Mng Redstar Gold Redstar Gold* Renaissance Gd Renaissance Gd* Revelo Res Revival Gold Revival Gold * Reyna Silver* Rhyolite Res Richmond Mnls* Rio2 Limited Rio2 Limited* Rojo Res* Romios Gold Rs Romios Gold Rs* RosCan Gold RosCan Gold* Roughrider Exp Roxgold Roxgold* Royal Rd Mnrls RT Minerals RT Minerals* Running Fox Rs* Rupert Res Salazar Res Salazar Res* Sanatana Res Sanatana Res* Sandstorm Gold Sandstorm Gold* Seabridge Gld Seabridge Gld* Sidney Resrces* Silver Grail Silver Mtn Mns Silver One Silver One* Silver Phoenix Silver Sands Silver Viper Silvercorp Met Silvercorp Met* SilverCrest SilverCrest* Skeena Res Skeena Res* Sky Gold Sky Gold* Slam Explor Slam Explor* Southern Emp Spanish Mtn Gd Spanish Mtn Gd* Spearmint Res SSR Mining SSR Mining* St Augustine Stakeholdr Gld*

Starcore Intl Starr Peak Exp Starr Peak Exp* Stellar Africa* Steppe Gold Stratabd Mnr Strategic Metl Strategic Metl* Strikepoint Gd Strikepoint Gd* Summa Silver Superior Gold Superior Gold* Supreme Metal* Supreme Metals Sutter Gold* Tarachi Gold Tembo Gold Teranga Gold Teranga Gold* Teras Res Terreno Res Thor Expl Thunder Mtn Gd* Thunderstruck* Timberline Res Timberline Res* Torex Gold Torq Resources Torq Resources* Tower Res* Treasury Metal Treasury Metal* Trifecta Gold Trifecta Gold* Troilus Gold Tudor Gold * Turmalina Met Turmalina Met* TVI Pacific UC Res* Unigold Unigold* Uragold Bay Rs UrbanGold Min Valterra Res Vanstar Mng Rs Venerable Vent Victoria Gold Victoria Gold* Vision Lithium Vision Lithium* Viva Gold Viva Gold* Vizsla Res Vizsla Res * Volcanic Gold Volcanic Gold* Wescan Gldflds Wesdome Gold Wesdome Gold* Western Copper Western Copper* Westkam Gold* Wheaton Prec M* White Metal Rs Wildsky Res Wildsky Res* Wolfden Res Wolfden Res* X-Terra Res X-Terra Res* Xander Res Xtra-Gold Res Xtra-Gold Res* Yamana Gold* 11 New Lows Amani Gold* Antioquia Gold* Cerro de Pasc CONSOL Coal Rs* Flow Metals GK Resources Minsud Res* Platinex Inc* Stuhini Explor* Teslin Rvr Res Wealth Mnrls

Financial information provided by Fundata Canada Inc. ©Fundata Canada Inc. All rights reserved

Contact: moliveira@ northernminer.com or 416-510-6768

LEGEND A C L N O Q T V X *

– – – – – – – – – –

Australian Securities Exchange Canadian Stock Exchange London Stock Exchange New York Stock Exchange U.S. over-the-counter NASDAQ or U.S. OTC Toronto Stock Exchange TSX Venture Exchange 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

20

J U LY 2 0 – AU GU ST 2 , 2 0 2 0

WWW.NORTHERNMINER.COM

/ THE NORTHERN MINER

STOCK

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: JULY 06–10, 2020 (100s) Stock

Exc Volume

Week High

Low

Last

12-month Change

High Low

A Canada Nickel* O 0.67 12 Exploration C 1494 1911 Gold* O 251 1911 Gold V 314 66 Resources C 37 Abacus Mining V 511 Abacus Mining* O 452 Abcourt Mines V 2032 Abcourt Mines* O 742 Aben Resources* O 1273 Aben Resources V 4435 Abitibi Royal* O 11 Abitibi Royal V 14 AbraPlata Res* O 2708 AbraPlata Res V 5828 Academy Metals* O 0 Academy Metals V 52 Adamera Min* O 1451 Adamera Min V 3097 Adex Mining V 214 Advance Gold V 1783 V 527 Adventus Adventus* O 18 AEX Gold V 362 Affinity Metal* O 71 African Gold V 1119 African Gold* O 561 African Min* O 1034 Aftermath Silv* O 1629 Agnico Eagle T 2776 Agnico Eagle* N 6283 Aguila Amer Gd V 14 Aguila Amer Gd* O 15 Aiml Res V 10 AJN Resources C 88 Alacer Gold T 4808 Alamos Gold T 7625 Alamos Gold* N 18215 Alaska Pac Egy* O 630 Alcoa* N 39856 Aldebaran Res V 44 Aldebaran Res* O 1151 Alderon Iron* O 39 Aldever Res V 2127 Aldever Res* O 0 Alexandra Cap* O 1729 Alexco Res T 3133 Alexco Res* X 12263 Alianza Min V 5405 Alianza Min* O 1030 Alien Metals* O 974 Alio Gold T 1007 Alio Gold* X 3773 Allegiant Gold V 499 Allegiant Gold* O 592 Alliance Mng V 130 Alliance Res* D 2323 Almaden Min* X 1839 Almaden Min T 196 Almadex Min* O 169 Almadex Min V 340 Almonty Ind * O 6 Almonty Ind T 85 Aloro Mining* O 17 Aloro Mining V 163 Alpha Lithium* O 9608 Alpha Lithium V 6438 Alphamin Res * O 196 Alphamin Res V 622 Altai Resource V 639 Altai Resource* O 26 Altair Res Inc V 1901 Altamira Gold V 3397 Altamira Gold* O 688 Altan Nevada V 995 Altan Rio Min V 52 Altiplano Met V 1166 Altius Mnrls * O 147 Altius Mnrls T 222 Alto Ventures V 68 Alto Ventures* O 25 Altura Mining* O 269 Altus Strat* O 7 Altus Strat V 30 Alumina Ltd* O 87 ALX Resources* O 226 ALX Resources V 948 AM Resources* O 0 AM Resources V 6 Amani Gold* O 280 Amanta Res* O 2 Amarc Res* O 147 Amarc Res V 1802 Amarillo Gold V 2028 Amarillo Gold* O 1052 Amer Intl Vent* O 193 American Creek* O 3303 American Creek V 10724 American CuMo* O 241 American Lith V 13966 American Lith* O 16478 American Mang* O 1993 American Mang V 1285 American Pac C 727 American Uran V 3 AmericanSierra* O 90 Americas Silvr* X 6050 Americas Silvr T 4453 Amerigo Res T 833 Amerigo Res* O 224 Amex Expl* O 290 Amex Expl V 1294 Amilot Capital V 412 Amilot Capital* O 0 Amseco Expl V 801 Anaconda Mng T 1587 Anaconda Mng* O 698 Andes Gold* O 12 Anfield Energy* O 200 Anfield Energy V 2040 Angel Gold* O 64 Angel Gold V 280 Angkor Gold* O 110 Angkor Res V 910 Anglo American* O 9 Anglo American* O 662 Anglo Pac Grp T 1 AngloGold Ash* O 0 AngloGold Ash* N 17277 Angus Ventures V 16 Antioquia Gold* O 306 Antioquia Gold V 1152 Antler Gold * O 50 Antler Gold V 850 Antofagasta* O 1 Apex Res * O 140 Apex Res V 318 Apollo Gold V 262 Appia Energy C 437 Appia Energy* O 408 Applied Min* O 674 Aquila Res* O 167 Aquila Res T 93 Arbor Metals V 431 Arch Coal* N 1481 Archon Mineral* O 1 Archon Mineral V 1 Arctic Star* O 35 Arctic Star V 324 Arcturus Vent V 549 Arcturus Vent* O 107 Arcus Dev Grp* O 47 Arcus Dev Grp V 538 Arcwest Explor V 1830 Arcwest Explor* O 193 Arena Min* O 22 Arena Min V 2351 Ares Strategic V 353 Ares Strategic* O 170 Argentina Lith* O 152 Argentina Lith V 556 Argentum Silvr V 166 Argentum Silvr* O 6 Argo Gold C 1982 Argo Gold* O 82 Argonaut Gold* O 2598 Argonaut Gold T 11721

64

0.71

0.67 0.70

+

0.22 0.42 0.56 0.09 0.12 0.08 0.10 0.07 0.12 0.16 16.23 22.00 0.14 0.19 0.00 0.13 0.09 0.12 0.01 0.15 1.55 1.08 0.95 0.34 0.36 0.26 0.00 0.28 90.52 66.75 0.30 0.16 0.19 0.36 10.21 14.30 10.57 0.00 12.12 0.32 0.31 0.00 0.20 0.11 0.49 3.32 2.46 0.11 0.08 0.00 1.97 1.35 0.45 0.34 0.02 3.44 0.53 0.71 0.22 0.29 0.44 0.61 0.05 0.06 1.13 1.45 0.13 0.17 0.06 0.03 0.04 0.15 0.11 0.02 0.08 0.13 7.70 10.54 0.24 0.02 0.06 0.52 0.64 4.71 0.04 0.05 0.00 0.04 0.00 0.00 0.04 0.07 0.30 0.22 0.01 0.27 0.35 0.03 2.47 1.81 0.15 0.21 0.58 0.05 0.02 2.70 3.65 0.51 0.37 2.42 3.27 0.06 0.01 0.06 0.44 0.32 0.01 0.06 0.08 0.03 0.05 0.06 0.08 23.48 12.34 2.82 0.00 32.25 0.69 0.03 0.04 0.33 0.46 12.48 0.10 0.14 1.20 0.20 0.15 0.01 0.13 0.17 1.10 31.26 0.13 0.00 0.03 0.03 0.20 0.14 0.02 0.03 0.14 0.10 0.02 0.04 0.11 0.08 0.05 0.09 0.30 0.19 0.30 0.18 2.18 2.96

0.19 0.38 0.51 0.07 0.10 0.07 0.09 0.06 0.08 0.12 0.00 19.98 0.11 0.14 0.00 0.00 0.07 0.09 0.01 0.10 1.38 0.00 0.71 0.26 0.29 0.21 0.00 0.25 83.99 62.00 0.21 0.00 0.00 0.30 8.91 12.74 9.41 0.00 10.43 0.28 0.20 0.00 0.12 0.00 0.30 2.89 2.14 0.08 0.06 0.00 1.88 1.14 0.41 0.29 0.02 3.16 0.48 0.66 0.17 0.24 0.37 0.57 0.04 0.00 0.63 0.88 0.12 0.15 0.05 0.03 0.02 0.11 0.08 0.02 0.08 0.08 7.14 9.80 0.18 0.02 0.03 0.47 0.59 4.36 0.02 0.04 0.00 0.00 0.00 0.00 0.02 0.04 0.24 0.16 0.01 0.18 0.24 0.02 0.91 0.15 0.13 0.19 0.41 0.00 0.01 2.43 3.30 0.35 0.26 2.11 2.86 0.03 0.01 0.06 0.35 0.26 0.00 0.05 0.06 0.02 0.00 0.05 0.06 0.00 11.60 0.00 0.00 29.18 0.00 0.00 0.04 0.21 0.31 11.60 0.09 0.11 0.74 0.16 0.12 0.01 0.11 0.15 0.97 26.97 0.13 0.00 0.02 0.03 0.10 0.08 0.02 0.02 0.11 0.09 0.02 0.03 0.09 0.07 0.00 0.05 0.23 0.19 0.22 0.15 1.81 2.47

0.19 + 0.41 + 0.55 0.07 unch 0.12 unch 0.08 + 0.10 + 0.07 + 0.09 0.12 15.70 21.30 0.13 + 0.18 + 0.09 unch 0.12 0.08 + 0.11 + 0.01 unch 0.13 + 1.54 + 1.06 + 0.94 + 0.30 + 0.33 + 0.24 + 0.00 0.27 + 88.40 + 64.97 + 0.23 0.16 unch 0.19 + 0.35 9.89 + 13.96 + 10.27 + 0.00 unch 11.41 + 0.32 + 0.20 unch 0.00 unch 0.20 + 0.11 unch 0.43 + 3.16 + 2.32 + 0.10 + 0.08 + 0.00 + 1.96 unch 1.26 unch 0.45 + 0.33 + 0.02 unch 3.24 0.52 + 0.70 + 0.19 0.24 0.42 + 0.59 0.04 + 0.05 0.90 + 1.22 + 0.13 + 0.17 + 0.05 + 0.03 unch 0.03 + 0.12 0.09 + 0.02 unch 0.08 unch 0.13 + 7.68 + 10.53 + 0.19 + 0.02 unch 0.04 0.47 0.61 4.48 + 0.03 + 0.04 unch 0.02 unch 0.04 unch 0.00 0.00 unch 0.04 + 0.06 + 0.27 + 0.19 + 0.01 + 0.20 0.27 0.03 + 2.35 + 1.73 + 0.14 0.19 0.42 + 0.05 + 0.02 + 2.46 3.31 0.51 + 0.37 + 2.18 + 2.93 unch 0.05 + 0.01 unch 0.06 0.40 + 0.30 + 0.01 + 0.06 + 0.08 + 0.02 0.04 unch 0.05 + 0.07 + 23.30 12.28 + 2.77 29.15 unch 31.12 + 0.69 + 0.03 + 0.04 unch 0.31 + 0.43 + 12.48 + 0.10 + 0.14 + 1.19 + 0.19 + 0.14 + 0.01 + 0.13 + 0.17 + 1.10 + 28.38 0.13 unch 0.18 unch 0.02 + 0.03 + 0.10 0.08 0.02 + 0.03 unch 0.14 unch 0.10 + 0.02 + 0.04 + 0.11 + 0.07 unch 0.05 + 0.07 + 0.25 0.19 + 0.29 + 0.18 + 1.87 2.54 -

0.01 0.02 0.01 0.00 0.00 0.00 0.01 0.01 0.01 0.03 0.52 0.50 0.01 0.01 0.00 0.01 0.00 0.01 0.00 0.02 0.14 0.01 0.04 0.03 0.03 0.02 0.00 0.01 3.70 2.14 0.08 0.00 0.01 0.01 0.82 1.21 0.97 0.00 0.44 0.01 0.00 0.00 0.09 0.00 0.02 0.10 0.05 0.03 0.01 0.00 0.00 0.00 0.06 0.03 0.00 0.03 0.02 0.01 0.02 0.05 0.05 0.03 0.00 0.01 0.25 0.32 0.01 0.02 0.01 0.00 0.01 0.02 0.02 0.00 0.00 0.05 0.58 0.66 0.02 0.00 0.02 0.05 0.03 0.07 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.02 0.04 0.02 0.00 0.06 0.05 0.00 1.45 1.08 0.00 0.02 0.01 0.04 0.00 0.08 0.10 0.17 0.10 0.09 0.00 0.02 0.00 0.01 0.03 0.04 0.00 0.01 0.01 0.00 0.00 0.01 0.02 0.12 0.54 0.06 0.00 2.14 0.09 0.00 0.00 0.10 0.11 0.88 0.01 0.03 0.44 0.04 0.02 0.00 0.01 0.01 0.13 1.08 0.00 0.00 0.00 0.01 0.08 0.04 0.00 0.00 0.00 0.04 0.01 0.02 0.01 0.00 0.01 0.02 0.02 0.02 0.04 0.03 0.25 0.44

0.00 0.71 0.25 0.42 0.60 0.37 0.15 0.11 0.10 0.09 0.20 0.26 16.66 22.50 0.14 0.20 0.25 0.45 0.09 0.12 0.01 0.29 1.55 1.08 1.20 0.34 0.59 0.44 0.01 0.42 97.32 69.66 0.30 0.16 0.35 1.34 10.21 14.30 10.57 0.00 24.63 0.47 0.33 0.22 0.22 0.11 0.60 3.73 2.81 0.11 0.08 0.01 1.98 1.35 0.45 0.34 0.02 18.01 0.82 1.10 0.45 0.45 0.67 0.89 0.16 0.06 1.13 1.45 0.20 0.27 0.09 0.05 0.07 0.15 0.11 0.07 0.09 0.13 10.00 13.15 0.24 0.18 0.12 0.52 0.68 6.89 0.05 0.06 0.03 0.15 0.00 0.00 0.06 0.08 0.30 0.22 0.02 0.27 0.36 0.10 2.47 1.35 0.24 0.31 0.58 0.06 0.03 3.92 5.19 0.81 0.62 2.42 3.27 0.06 0.05 0.08 0.44 0.32 0.02 0.16 0.19 0.03 0.05 0.11 0.14 29.51 14.81 4.20 29.15 32.25 0.71 0.04 0.05 0.33 0.46 12.73 0.31 0.43 1.20 0.35 0.27 0.04 0.16 0.22 1.10 94.96 0.34 0.52 0.19 0.28 0.97 0.69 0.02 0.04 0.14 0.10 0.05 0.08 0.15 0.08 0.07 0.10 0.48 0.37 0.30 0.18 2.18 2.98

0.13 0.15 0.22 0.05 0.04 0.03 0.04 0.03 0.03 0.05 7.68 11.10 0.03 0.04 0.09 0.11 0.01 0.02 0.01 0.03 0.52 0.36 0.29 0.06 0.10 0.07 0.00 0.06 43.25 31.00 0.12 0.12 0.10 0.15 3.50 4.43 3.34 0.00 5.16 0.16 0.17 0.00 0.05 0.01 0.06 1.00 0.72 0.03 0.03 0.00 0.43 0.28 0.07 0.04 0.01 2.70 0.21 0.31 0.05 0.12 0.24 0.28 0.01 0.03 0.19 0.06 0.09 0.12 0.03 0.02 0.01 0.04 0.02 0.01 0.03 0.02 4.33 6.29 0.08 0.04 0.01 0.35 0.30 3.09 0.01 0.02 0.02 0.03 0.00 0.00 0.02 0.02 0.10 0.08 0.00 0.02 0.03 0.00 0.09 0.06 0.07 0.10 0.06 0.01 0.01 1.00 1.39 0.12 0.08 0.63 0.85 0.01 0.01 0.02 0.10 0.07 0.00 0.03 0.04 0.00 0.01 0.02 0.01 12.56 5.91 1.87 15.44 12.66 0.14 0.01 0.02 0.01 0.02 7.30 0.03 0.04 0.03 0.10 0.07 0.00 0.05 0.07 0.03 21.80 0.13 0.10 0.01 0.02 0.07 0.00 0.01 0.01 0.04 0.02 0.01 0.02 0.07 0.01 0.02 0.04 0.14 0.11 0.06 0.06 0.53 0.76

(100s) Stock

Exc Volume

Week

12-month

High

Low

0.15 0.16 0.21 0.22 + 0.10 0.11 + 0.14 0.15 unch 0.47 0.55 unch 0.00 0.30 unch 3.82 4.12 2.80 3.03 0.05 0.06 + 0.06 0.09 + 0.09 0.09 unch 0.12 0.12 1.10 1.17 0.81 0.86 + 0.04 0.08 + 0.05 0.05 unch 0.35 0.35 unch 0.17 0.19 + 0.13 0.13 + 0.10 0.12 unch 0.08 0.09 + 0.19 0.19 0.26 0.27 0.01 0.01 2.60 2.75 + 0.00 0.12 unch 0.16 0.17 unch 0.08 0.09 + 0.22 0.30 + 0.30 0.41 + 0.87 0.87 unch 0.03 0.03 0.04 0.04 0.00 137.25 + 176.50 182.00 0.07 0.07 0.05 0.06 + 0.39 0.53 + 2.24 2.48 + 3.02 3.50 + 0.48 0.50 0.35 0.38 0.05 0.06 + 0.00 0.03 unch 0.09 0.10 unch 0.07 0.08 0.03 0.04 + 0.89 0.93 1.22 1.24 0.05 0.05 0.04 0.06 unch 0.00 0.42 + 2.59 2.95 + 1.91 2.21 + 0.00 0.01 + 0.07 0.07 unch 0.07 0.15 unch 0.13 0.15 unch 0.06 0.10 unch 0.05 0.06 unch 0.03 0.04 0.02 0.02 unch 0.13 0.30 + 0.78 0.81 + 1.07 1.08 0.00 0.04 + 0.02 0.03 + 0.10 0.11 unch 0.11 0.11 0.09 0.09 + 0.10 0.11 + 0.00 0.08 0.12 0.12 0.16 0.17 unch 2.24 2.64 1.64 1.93 0.02 0.02 0.03 0.04 + 0.36 0.37 0.27 0.27 0.00 0.00 + 0.18 0.19 0.13 0.14 -

Arianne Phosph* Arianne Phosph Arizona Silver* Arizona Silver Armor Min Armor Min* Artemis Gold Artemis Gold* Asante Gold* Asante Gold Ascendant Res* Ascendant Res Ascot Res Ascot Res * Ashanti Sanko Ashanti Sanko* AsiaBaseMetals Asian Mineral Asian Mineral* Aston Bay Aston Bay* ATAC Res* ATAC Res Atacama Res* Atalaya Mining Athabasca Min* Athabasca Min Athena Silver* Atico Mining* Atico Mining Atlas Cons Mng* Aton Resources* Aton Resources Aura Minerals* Aura Minerals Aura Resources Aura Resources* Auramex Res Aurania Res* Aurania Res Aurcana Corp Aurcana Corp* AurCrest Gold AurCrest Gold* Aurelius Min Aurelius Min* Aurex Energy Aurion Res * Aurion Res Aurora Royal Aurwest Res AURYN Mining* Auryn Resource Auryn Resource* Aust Mines* Austin Res Austral Gold* Austral Gold Auxico Res Avalon Advance Avalon Advance* Avarone Metals* Avidian Gold Avino Silver* Avino Silver Avrupa Min Avrupa Min* Awale Res Axmin Inc Axmin Inc* 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 V V O V O O C O T T O V O V V O V O O V O T O V O O V O O V O T V O V O V V O V O V O V O V V C O T X O V O V C T O O V X T V O V V O V O O T V O O V V O O V O

394 160 105 211 15 0 921 394 154 787 200 164 2299 793 319 100 25 84 1 3767 483 449 1412 7138 11 1 165 68 336 1650 0 110 1542 7 20 702 116 560 140 387 6384 4498 304 18 6300 547 125 374 639 188 482 33 2634 7306 193 43 31 121 527 794 697 13 8858 8241 553 844 73 1688 136 94 1286 2 473 715 1543 319 483 1301 394 93 1378 285 394

0.18 0.25 0.12 0.15 0.55 0.00 5.25 4.16 0.07 0.09 0.10 0.13 1.30 0.97 0.08 0.05 0.35 0.19 0.13 0.12 0.09 0.21 0.30 0.01 2.94 0.12 0.18 0.10 0.31 0.43 0.87 0.04 0.05 141.00 191.00 0.08 0.06 0.56 2.70 3.67 0.60 0.45 0.06 0.00 0.12 0.09 0.04 1.08 1.45 0.06 0.06 0.46 3.26 2.40 0.01 0.07 0.15 0.16 0.10 0.06 0.04 0.02 0.33 0.88 1.19 0.04 0.03 0.11 0.12 0.09 0.12 0.08 0.13 0.17 2.91 2.16 0.03 0.04 0.42 0.32 0.00 0.24 0.17

B2Gold Corp B2Gold Corp* Balto Res Bam Bam Res* Bam Bam Res Bankers Cobalt* Bankers Cobalt Bannerman Res* Banyan Gold Banyan Gold* Bard Ventures* Bard Ventures Barksdale Res* Barksdale Res Barolo Venture Baroyeca Gold Barrick Gold* Barrick Gold Barsele Min* Barsele Min Baselode Egy Batero Gold* Batero Gold Battle North* Battle North Bayhorse Silvr Bayhorse Silvr* BC Moly BCM Res BCM Res* BE Res Bear Creek Mng Bear Creek Mng* 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* Berkwood Res * Berkwood Res Bessor Min Bird River Res Bitterroot Res* Bitterroot Res Black Hills* Black Iron Black Iron* Black Mammoth* Black Mammoth Black Sea Black Sea * 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* Bold Ventures

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

23238 34080 206 53 4985 66 259 2737 6606 443 7 99 78 117 26 12 65366 16311 108 206 193 209 2096 72 1687 3238 386 0 48 16 155 817 352 73 171 423 898 190 526 1090 3167 166 541 644 2934 15448 9935 821 20 20 648 163 1135 45 246 2461 1748 108 13 2 425 49 2662 11089 22 973 2480 527 84478 117 51 41 505 1380 545 208 604 228 2321 184 351 18 1070 134 138

8.23 6.09 0.08 0.05 0.10 0.16 0.38 0.03 0.32 0.23 0.08 0.14 0.28 0.39 0.22 0.06 28.05 37.90 0.34 0.49 0.35 0.09 0.13 1.41 1.93 0.12 0.08 0.00 0.06 0.05 0.12 3.00 2.21 0.10 0.13 0.19 0.15 0.10 0.09 0.83 0.63 0.28 0.38 0.55 0.73 0.30 0.22 0.51 0.37 0.02 0.03 0.06 0.01 0.04 0.05 59.94 0.11 0.08 0.02 0.00 0.27 0.19 0.07 0.09 0.08 0.40 0.56 0.04 0.01 0.62 0.42 0.01 0.02 0.02 0.01 0.11 0.15 0.08 0.11 0.11 0.16 0.11 2.23 1.65 0.06

Last

TA B L E S

Change

Stock

0.01 0.01 0.01 0.00 0.00 0.00 0.95 1.12 0.03 0.02 0.00 0.01 0.01 0.03 0.04 0.00 0.00 0.02 0.03 0.00 0.00 0.01 0.02 0.00 0.10 0.00 0.00 0.00 0.07 0.10 0.00 0.00 0.01 0.70 8.00 0.01 0.00 0.01 0.37 0.55 0.09 0.04 0.01 0.00 0.00 0.01 0.01 0.09 0.12 0.02 0.00 0.14 0.29 0.29 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.18 0.01 0.01 0.01 0.01 0.00 0.01 0.01 0.01 0.00 0.00 0.00 0.19 0.26 0.00 0.01 0.03 0.00 0.00 0.02 0.02

0.49 0.65 0.19 0.25 0.55 0.39 5.70 4.16 0.07 0.09 0.32 0.44 1.30 0.97 0.10 0.05 0.58 0.89 0.32 0.13 0.09 0.24 0.32 0.03 3.97 0.60 0.79 0.15 0.33 0.43 0.91 0.04 0.07 141.00 196.00 0.09 0.07 0.56 3.40 4.50 0.67 0.52 0.06 0.04 0.12 0.09 0.20 1.77 2.35 0.07 0.10 0.57 3.26 2.40 0.02 0.13 0.15 0.16 0.15 0.08 0.06 0.11 0.33 0.89 1.19 0.05 0.04 0.26 0.50 0.34 0.20 0.10 0.22 0.28 3.27 2.35 0.05 0.06 0.54 0.37 0.00 0.43 0.34

0.11 0.15 0.08 0.10 0.31 0.19 0.95 0.60 0.02 0.02 0.07 0.09 0.37 0.26 0.01 0.01 0.22 0.12 0.10 0.04 0.03 0.08 0.11 0.00 1.79 0.06 0.08 0.01 0.11 0.16 0.71 0.01 0.02 11.78 16.21 0.02 0.02 0.00 1.03 1.51 0.15 0.11 0.02 0.01 0.02 0.04 0.03 0.29 0.42 0.02 0.01 0.03 1.00 0.71 0.00 0.04 0.02 0.06 0.02 0.03 0.02 0.02 0.05 0.26 0.27 0.01 0.01 0.04 0.11 0.08 0.05 0.03 0.05 0.07 0.31 0.23 0.01 0.02 0.04 0.03 0.00 0.08 0.05

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

O 5753 C 21 V 2077 V 239 O 310 O 7690 O 229 V 1566 O 1157 V 2926 O 1069 V 1379 O 4 O 493124 O 661 V 6500 O 165 O 2999 V 2970 O 2290 O 3395 O 246 O 1218 V 9165 N 6548 V 122 O 5 C 2054 O 1900 O 2 C 13 O 82 V 1939

0.59 0.39 0.02 0.00 0.02 0.04 0.04 0.00 0.02 0.03 0.00 0.01 0.02 0.04 0.04 0.01 0.84 1.27 0.07 0.13 0.15 0.05 0.04 0.00 0.02 0.03 0.01 0.00 0.00 0.00 0.00 0.36 0.17 0.01 0.01 0.02 0.01 0.00 0.01 0.05 0.06 0.02 0.03 0.07 0.09 0.08 0.06 0.10 0.08 0.00 0.01 0.01 0.01 0.00 0.01 1.38 0.01 0.01 0.00 0.00 0.09 0.03 0.00 0.01 0.00 0.09 0.14 0.00 0.00 0.07 0.09 0.00 0.00 0.00 0.01 0.00 0.01 0.00 0.01 0.01 0.03 0.00 0.24 0.13 0.00

8.23 6.09 0.19 0.10 0.16 0.29 0.38 0.04 0.32 0.23 0.10 0.15 0.57 0.75 0.25 0.10 28.50 40.13 0.55 0.73 0.35 0.09 0.13 1.45 1.93 0.20 0.14 0.07 0.11 0.04 0.25 3.00 2.35 0.29 0.38 0.22 0.15 0.10 0.09 1.05 0.79 0.28 0.38 0.55 0.73 0.30 0.22 0.53 0.38 0.04 0.05 0.07 0.02 0.04 0.07 87.12 0.16 0.12 0.04 0.06 0.27 0.19 0.15 0.16 0.15 0.40 0.56 0.06 0.30 2.11 1.45 0.03 0.04 0.02 0.02 0.17 0.23 0.08 0.11 0.20 0.20 0.16 2.23 1.65 0.10

3.12 2.16 0.03 0.03 0.03 0.02 0.05 0.01 0.03 0.02 0.05 0.05 0.14 0.21 0.18 0.03 12.65 17.52 0.07 0.11 0.07 0.03 0.05 0.37 0.54 0.05 0.03 0.03 0.02 0.04 0.09 0.75 0.50 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 0.01 0.01 0.03 0.01 0.01 0.02 48.07 0.05 0.03 0.02 0.04 0.02 0.01 0.02 0.03 0.05 0.05 0.07 0.02 0.00 0.36 0.27 0.00 0.01 0.01 0.00 0.03 0.05 0.04 0.04 0.06 0.04 0.03 0.99 0.75 0.03

Cabral Gold Cabral Gold* Cache Explor Cadence Min* Cadillac Vent 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 Coal* Canada Coal Canada Nickel Canada One* Canada One Canada Rare Canada Rare* Canada Silver Canada Silver* Canadian Metal Canadian Prem Canadian Prem* CanAlaska Uran CanAlaska Uran* Canamex Gold* Canarc Res Canarc Res* 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* Capstone Mng Cardero Res Cardero Res* Cardinal Res* Cardinal Res Cariboo Rose Carlin Gold Carlyle Comm* Carrara Explor Cartier Iron Cartier Res* Cartier Res Carube Copper Carube Copper* Casa Minerals Casa Minerals * Cascadero Copp Cassius Vents Castle Peak Mg CAT Strategic Cdn Palladium* Cdn Palladium CellCube Enrgy* Centamin Centaurus Diam* Centerra Gold Central Iron Central Tim Ex Century Cobalt* Century Global Century Global* Cerro de Pasc Cerro de Pasc * Cerro Grande* Cerro Grande Cerro Mng Ceylon Graph Chakana Copper Chakana Copper* Chalice Gold M* Champion Bear* Champion Bear Champion Iron* Champion Iron Chatham Rock Chesapeake Gld Chesapeake Gld* Chevron Corp* Chiboug Ind Mn Chilean Metals* Chilean Metals China Gold Int Clarity Gold Clarmin Explor Clean Air Met Clean Comm* Cleghorn Mnls Cleveland-Clif* Cliffmont Res Clifton Mng* Clydesdale Res CMC Metals* CMC Metals CNRP Mng Cobalt Block* Cobalt Block Coeur Mng* Colibri Res* Colibri Res Colombia Crest Colombia Crest* Colonial Coal Colorado Res Colorado Res* Colt Res* Comet Inds Commander Res

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

B 7.50 8.07 + 5.54 5.95 + 0.06 0.07 0.05 0.05 0.06 0.08 + 0.11 0.14 + 0.16 0.20 + 0.02 0.03 + 0.21 0.26 0.15 0.19 0.00 0.08 0.00 0.10 + 0.26 0.27 + 0.34 0.39 + 0.00 0.22 + 0.06 0.06 26.35 27.11 + 35.71 36.82 + 0.26 0.33 + 0.33 0.45 + 0.17 0.34 + 0.07 0.09 + 0.08 0.11 + 1.33 1.34 + 1.79 1.84 + 0.09 0.11 + 0.06 0.08 + 0.00 0.06 unch 0.04 0.06 unch 0.00 0.05 + 0.00 0.12 unch 2.54 2.83 + 1.81 2.05 + 0.00 0.09 + 0.12 0.13 + 0.15 0.18 + 0.11 0.13 0.08 0.09 0.07 0.08 + 0.75 0.76 0.53 0.56 0.24 0.28 + 0.34 0.38 + 0.45 0.52 + 0.60 0.71 + 0.12 0.21 + 0.08 0.16 + 0.38 0.40 0.29 0.29 0.00 0.02 unch 0.02 0.03 + 0.05 0.06 + 0.01 0.01 + 0.04 0.04 + 0.05 0.05 55.46 59.92 + 0.10 0.10 0.07 0.08 0.02 0.02 unch 0.00 0.05 unch 0.19 0.27 + 0.14 0.16 + 0.05 0.06 0.07 0.08 0.07 0.07 unch 0.25 0.39 + 0.34 0.52 + 0.04 0.04 unch 0.01 0.01 + 0.43 0.49 0.27 0.36 0.01 0.01 + 0.02 0.02 unch 0.01 0.01 unch 0.00 0.01 + 0.09 0.10 + 0.13 0.14 + 0.07 0.07 0.09 0.10 + 0.10 0.10 0.12 0.13 0.11 0.11 1.95 2.22 + 1.44 1.61 + 0.05 0.06 unch

(100s)

High Low

Exc Volume

Week High

Low

Last

0.00 0.38 1.56 0.07 0.06 0.00 0.08 0.08 0.15 0.20 0.12 0.15 0.17 0.00 0.45 0.62 0.04 0.00 0.28 0.21 0.01 0.04 0.21 0.28 9.98 0.01 0.01 0.26 0.20 0.03 1.00 0.37 0.06

0.00 0.33 1.26 0.06 0.05 0.00 0.02 0.02 0.12 0.16 0.09 0.12 0.12 0.00 0.20 0.26 0.03 0.00 0.24 0.17 0.01 0.03 0.15 0.20 9.12 0.01 0.01 0.20 0.15 0.03 0.80 0.12 0.03

0.00 0.37 1.28 0.07 0.06 0.00 0.05 0.05 0.14 0.19 0.10 0.14 0.16 0.00 0.38 0.50 0.04 0.00 0.25 0.18 0.01 0.03 0.16 0.25 9.36 0.01 0.01 0.21 0.16 0.03 0.80 0.19 0.05

12-month Change

Commander Res* Commerce Res Commerce Res* Compass Gold* Compass Gold Comstock Mng* Comstock Mtls Comstock Mtls * Condor Gold* 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 Copper Fox Mtl Copper Fox Mtl* Copper Lake Rs Copper Mtn Mng Copper Mtn Mng* Copper North M* Copper North M Copper One * Copper One Copper Reef Mg* Copper Reef Mg Copperbank Res* Copperbank Res Coral Gold * Coral Gold Cordoba Mnls Cordoba Mnls* Core Lithium* Cornerstone Ca Cornerstone Ca* Corsa Coal * Corsa Coal Corsurex Res Corvus Gold Corvus Gold* CR Capital Crazy Horse Res* Crest Resource Crestview Expl Critical Elem* Critical Elem CROPS Crown Mining Crown Mining* Cruz Cobalt* Cruz Cobalt Crystal Peak* Crystal Peak CTGX Mining* Currie Rose Rs CWN M’g Acq Cypress Dev* Cypress Dev

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

35 143 1 70 253 2000 123 20 21 42 4805 1499 0 208 423 10 352 18 741 159 1720 16998 197 207 827 911 865 189 14239 1671 567 47 1813 6823 11060 93 54 3916 2023 158 185 1489 269 8 275 44 397 50 2423 625 327 181 25 90 90 5 75 2980 128 1 86 292 48 598 0 76 5 943 1951

0.11 0.24 0.16 0.19 0.28 0.94 0.12 0.08 2.55 1.07 0.44 0.32 0.81 1.25 0.18 0.13 0.05 0.03 0.10 4.11 5.66 9.52 0.15 0.18 0.18 0.24 0.13 0.09 0.03 0.74 0.55 0.04 0.06 0.40 0.22 0.25 0.34 0.04 0.24 0.58 0.79 0.10 0.07 0.15 3.86 2.83 0.20 0.25 0.08 3.34 2.45 0.23 0.07 0.10 0.58 0.26 0.35 0.03 0.06 0.02 0.03 0.05 0.03 0.04 0.00 0.04 0.05 0.29 0.38

Dajin Lithium* Dajin Res Dakota Ter Res* 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 Ditem Explor* Diversified Rs* 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 Duro Metals DV Resources* DV Resources Dynacor Gld Mn Dynacor Gld Mn* Dynamic Gold* DynaResource* Dynasty Gold Dynasty Gold* E3 Metals E3 Metals* Eagle Graphite Eagle Graphite* Eagle Plains East Africa East Africa * East Asia Mnls* East Asia Mnls Eastern Platin Eastern Platin* Eastfield Res Eastfield Res* Eastmain Res Eastmain 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 Emgold Mining

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

1323 1350 140 222 98 9 12400 1060 96 1473 342 488 518 1160 1170 42 1268 2800 28 1020 1336 2 35 1 903 7 3 1291 205 1541 1595 3624 18721 74 13021 209 365 80 50 450 4 33 1591 1551 59 4803 18 3092 4078 329 944 300 93 685 170 46 5 45 280 51 309 453 159 68 478 764 1 410 1339 32 39 1192 70 5779 766 367 2546 86 61 216 21 20 9 27 119 729 113 343 40 15229 6790 212 364 1382 1958 125 28 1695 3657

0.06 0.08 0.46 0.06 0.38 0.13 0.13 0.10 0.09 0.15 0.03 0.13 0.17 0.29 0.22 0.29 0.53 0.39 0.16 0.24 0.85 0.01 0.10 0.08 0.00 0.17 0.10 0.20 0.08 0.11 0.98 1.33 0.00 0.09 0.03 0.02 0.33 0.00 0.00 0.24 0.01 0.06 0.54 0.72 0.80 0.29 0.21 17.04 9.83 0.07 0.10 0.13 0.14 0.17 1.97 1.45 1.22 0.54 0.13 0.08 0.38 0.28 0.05 0.02 0.15 0.13 0.07 0.11 0.12 0.34 0.24 0.06 0.04 0.20 0.15 0.64 0.80 0.07 0.06 0.10 0.11 0.13 0.04 0.05 0.01 0.07 0.05 0.04 0.03 11.27 15.30 0.83 1.11 2.00 1.50 0.33 0.25 0.18 0.11

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

0.00 0.02 0.20 0.02 0.01 0.00 0.03 0.03 0.01 0.00 0.00 0.02 0.01 0.00 0.21 0.24 0.00 0.00 0.01 0.00 0.00 0.00 0.13 0.14 0.23 0.00 0.00 0.01 0.01 0.00 0.20 0.03 0.02

0.01 0.40 3.02 0.07 0.05 0.00 0.11 0.13 0.15 0.20 0.14 0.18 0.58 0.01 0.36 0.62 0.04 0.01 0.43 0.33 0.01 0.08 1.00 0.49 17.85 0.01 0.01 0.26 0.21 0.10 1.01 0.40 0.06

0.00 0.14 0.63 0.03 0.03 0.00 0.00 0.01 0.03 0.05 0.03 0.05 0.08 0.00 0.07 0.05 0.00 0.00 0.08 0.05 0.00 0.02 0.00 0.07 5.12 0.01 0.00 0.08 0.05 0.01 0.08 0.08 0.02

0.25 0.24 0.13 0.11 0.04 7.07 3.00 18.40 1.36 1.68 0.26 0.18 1.07 1.37 10.99 14.89 0.19 0.15 0.11 0.01 0.23 0.15 0.02 0.02 0.99 0.03 0.04 0.07 0.05 0.67 0.51 0.11 0.23 0.14 0.17 0.13 0.05 0.15 0.11 0.15 0.21 0.35 0.09 0.04 0.06 0.23 0.32 0.07 0.04 0.27 0.07 0.05 0.02 0.03 1.07 1.45 0.10 0.07 1.06 0.05 0.03 0.45 0.57 0.08 0.03 0.18 0.08 0.09 0.21 0.29 0.07 0.04 0.13 0.09 0.03 0.10 0.03 0.02 0.08 0.10 0.01 3.28 0.06 16.62 0.11 0.64 0.02 0.10 0.08 0.33 0.24 0.00 0.02 0.31 0.14 0.55 0.41 0.85 0.13 0.25 2.02 2.74 0.00 5.09 3.75 90.25 0.12 0.11 0.00 1.03 0.46 0.14 0.43 0.17 0.00 5.77 0.06 0.16 0.05 0.08 0.11 0.26 0.04 0.05 5.87 0.04 0.07 0.12 0.08 0.77 0.08 0.06 0.00 3.15 0.15

0.18 0.14 0.08 0.00 0.03 1.99 2.50 16.61 0.85 1.34 0.21 0.15 0.68 0.97 10.23 13.90 0.10 0.13 0.00 0.01 0.19 0.00 0.02 0.02 0.87 0.03 0.04 0.00 0.04 0.56 0.39 0.10 0.18 0.14 0.15 0.11 0.04 0.11 0.08 0.11 0.21 0.23 0.07 0.03 0.04 0.20 0.27 0.00 0.04 0.23 0.05 0.05 0.01 0.00 0.74 0.97 0.08 0.07 0.81 0.03 0.02 0.39 0.55 0.06 0.03 0.13 0.05 0.07 0.19 0.25 0.05 0.04 0.11 0.09 0.02 0.10 0.02 0.00 0.06 0.08 0.01 3.05 0.04 14.82 0.08 0.45 0.01 0.00 0.00 0.24 0.22 0.00 0.01 0.00 0.12 0.25 0.18 0.69 0.00 0.16 1.89 2.54 0.00 4.51 3.32 82.50 0.11 0.00 0.00 0.83 0.38 0.14 0.38 0.14 0.00 4.92 0.06 0.14 0.03 0.06 0.08 0.24 0.00 0.04 4.80 0.00 0.06 0.11 0.08 0.69 0.06 0.05 0.00 3.10 0.00

0.24 + 0.18 + 0.11 + 0.11 + 0.03 2.05 + 2.70 17.43 1.19 + 1.60 + 0.21 0.15 0.96 + 1.31 + 10.85 + 14.74 + 0.19 + 0.15 + 0.11 + 0.01 0.22 + 0.15 0.02 unch 0.02 unch 0.96 + 0.03 + 0.04 + 0.06 unch 0.05 + 0.60 + 0.44 + 0.11 + 0.18 0.14 unch 0.17 + 0.12 + 0.05 + 0.13 + 0.10 + 0.15 + 0.21 0.30 0.08 + 0.04 + 0.05 + 0.20 0.27 0.07 + 0.04 unch 0.23 0.07 + 0.05 unch 0.01 0.02 unch 1.07 + 1.45 + 0.09 0.07 0.97 + 0.05 + 0.03 + 0.40 0.56 + 0.08 + 0.03 + 0.14 0.08 + 0.09 + 0.19 + 0.26 0.06 0.04 unch 0.13 + 0.09 + 0.03 + 0.10 unch 0.03 + 0.02 0.06 + 0.09 0.01 3.20 + 0.04 15.67 + 0.09 0.57 + 0.02 0.10 unch 0.08 + 0.31 + 0.23 0.00 unch 0.01 + 0.31 0.12 0.55 + 0.40 + 0.83 + 0.13 + 0.19 + 1.90 2.57 0.15 unch 4.77 + 3.61 + 85.21 0.12 unch 0.10 + 0.10 unch 1.00 + 0.46 + 0.14 unch 0.41 + 0.17 0.10 unch 5.74 + 0.06 unch 0.16 + 0.03 0.07 + 0.09 unch 0.24 0.03 0.05 unch 5.69 + 0.04 unch 0.07 + 0.11 0.08 unch 0.75 + 0.07 0.05 0.00 unch 3.10 unch 0.12 +

0.07 0.05 0.04 0.08 0.01 0.14 0.09 0.49 0.18 0.23 0.02 0.02 0.28 0.35 0.73 0.79 0.04 0.02 0.02 0.00 0.01 0.03 0.00 0.00 0.04 0.00 0.01 0.00 0.01 0.05 0.03 0.01 0.05 0.00 0.02 0.01 0.02 0.03 0.02 0.03 0.09 0.05 0.01 0.01 0.01 0.04 0.06 0.02 0.00 0.06 0.02 0.00 0.01 0.00 0.35 0.49 0.01 0.01 0.15 0.02 0.01 0.04 0.01 0.02 0.01 0.02 0.03 0.02 0.00 0.01 0.02 0.00 0.02 0.04 0.01 0.00 0.01 0.01 0.00 0.01 0.00 0.16 0.01 0.87 0.02 0.11 0.00 0.00 0.02 0.01 0.01 0.00 0.01 0.08 0.01 0.31 0.23 0.15 0.01 0.03 0.04 0.05 0.00 0.01 0.08 3.10 0.00 0.02 0.00 0.18 0.15 0.00 0.03 0.00 0.00 0.34 0.00 0.01 0.02 0.03 0.00 0.02 0.01 0.00 0.84 0.00 0.01 0.02 0.00 0.04 0.01 0.00 0.00 0.00 0.03

0.25 0.25 0.35 0.11 0.04 9.60 3.00 20.00 1.52 1.68 0.72 0.55 1.08 1.41 11.26 15.77 0.25 0.19 0.14 0.08 0.39 0.28 0.02 0.06 1.41 0.03 0.05 0.08 0.06 0.73 0.57 0.65 1.35 0.83 0.29 0.22 0.06 0.15 0.11 0.15 0.31 0.41 0.08 0.04 0.06 0.25 0.33 0.11 0.09 0.30 0.07 0.05 0.02 0.03 5.23 6.99 0.11 0.08 1.06 0.05 0.03 0.45 0.63 0.08 0.06 0.24 0.08 0.09 0.21 0.29 0.08 0.06 0.18 0.12 0.03 0.10 0.03 0.04 0.18 0.23 0.08 3.29 0.29 16.62 0.25 0.64 0.11 0.25 0.17 0.54 0.41 0.01 0.02 0.40 0.20 0.55 0.34 0.86 0.16 0.27 2.17 2.90 0.32 5.21 3.83 127.00 0.23 0.11 0.17 1.76 1.00 0.18 0.47 0.20 0.10 11.61 0.13 0.23 0.05 0.08 0.11 0.56 0.07 0.08 8.29 0.06 0.08 0.31 0.23 0.82 0.13 0.10 0.00 3.60 0.15

0.07 0.05 0.04 0.04 0.01 0.11 1.30 5.22 0.00 0.46 0.11 0.08 0.22 0.32 5.30 7.69 0.00 0.05 0.03 0.00 0.05 0.03 0.02 0.01 0.38 0.01 0.02 0.03 0.02 0.25 0.18 0.01 0.10 0.12 0.09 0.06 0.00 0.03 0.02 0.05 0.03 0.05 0.02 0.01 0.01 0.04 0.05 0.04 0.04 0.10 0.02 0.00 0.00 0.01 0.33 0.46 0.03 0.02 0.33 0.02 0.01 0.15 0.20 0.04 0.01 0.00 0.01 0.03 0.05 0.07 0.01 0.03 0.02 0.03 0.01 0.04 0.01 0.01 0.02 0.06 0.01 1.52 0.04 5.52 0.01 0.05 0.00 0.05 0.05 0.24 0.18 0.00 0.01 0.07 0.06 0.08 0.05 0.08 0.07 0.09 0.77 0.96 0.07 1.40 1.01 51.60 0.05 0.02 0.03 0.45 0.22 0.05 0.30 0.01 0.03 2.63 0.05 0.07 0.01 0.02 0.03 0.06 0.02 0.03 1.98 0.03 0.04 0.05 0.05 0.21 0.03 0.02 0.00 2.75 0.05

Exc Volume

Week

Stock

C 5668 1460 322 44 134 49 279 570 488 3082 44 7 144 128 12324 3240 86 296 89 5 453 22 4 1331 518 9 120 255 51 2339 1295 140 18 4 751 344 101 5685 4056 2299 1 171 779 15 2192 60 489 8 0 424 348 100 37 242 4 484 348 5 4329 731 142 29 2971 1502 397 27 18344 397 554 1839 1929 48 354 6 706 4 3523 14 760 1558 665 151 218 4149 1219 82 25 55 56 420 62 139 3329 6 256 2165 1815 110 15 152 2357 3007 1 212 180 33608 453 79 0 1192 128 150 2352 59 1 63635 5 134 22 247 2830 523 43 232 40094 30 881 224 6 464 4123 464 5 120 3342

(100s)

High Low

High

Low

Last

12-month Change

High Low

+ 0.10 + 0.21 + 0.16 0.18 0.25 unch 0.78 + 0.12 + 0.08 + 0.54 + 0.80 + 0.39 + 0.28 + 0.81 + 1.22 + 0.17 + 0.13 0.05 unch + 0.03 + 0.10 3.97 + 5.40 8.43 + 0.15 0.18 + 0.17 + 0.24 + 0.13 + 0.08 + 0.02 + 0.73 + 0.52 + 0.04 + 0.05 + 0.12 0.17 unch + 0.25 0.32 0.04 + 0.21 0.55 0.75 unch 0.09 + 0.06 0.07 + 3.63 + 2.74 0.16 0.23 0.06 + 3.26 + 2.39 + 0.18 0.07 unch 0.10 unch 0.48 + 0.25 + 0.34 0.01 + 0.06 0.02 unch + 0.03 + 0.05 0.03 0.04 unch 0.00 unch 0.04 unch 0.05 unch + 0.26 + 0.35

0.02 0.01 0.00 0.01 0.00 0.03 0.01 0.02 0.05 0.11 0.20 0.15 0.17 0.07 0.01 0.01 0.00 0.00 0.03 0.06 0.23 0.34 0.02 0.01 0.03 0.06 0.03 0.02 0.01 0.10 0.07 0.01 0.01 0.03 0.00 0.05 0.02 0.11 0.03 0.02 0.00 0.01 0.01 0.01 0.05 0.16 0.01 0.01 0.02 0.10 0.02 0.03 0.00 0.00 0.06 0.02 0.03 0.01 0.01 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.04 0.07

0.08 0.65 0.57 0.50 0.65 1.10 0.20 0.10 2.59 1.10 0.44 0.30 0.81 1.25 0.48 0.35 0.05 0.03 0.10 16.68 25.70 14.19 0.57 0.72 1.00 0.24 0.13 0.09 0.03 0.95 0.73 0.04 0.06 0.69 1.00 0.35 0.52 0.20 0.24 0.58 0.80 0.14 0.10 0.21 4.31 3.61 0.56 0.73 0.15 3.55 2.52 0.23 0.38 0.15 2.60 0.48 0.63 0.04 0.08 0.06 0.04 0.06 0.12 0.16 0.07 0.07 0.21 0.29 0.38

0.04 0.11 0.07 0.10 0.14 0.15 0.08 0.01 0.22 0.30 0.04 0.02 0.11 0.21 0.12 0.09 0.01 0.01 0.02 3.90 3.35 4.26 0.09 0.12 0.00 0.08 0.01 0.03 0.01 0.28 0.19 0.01 0.01 0.01 0.05 0.08 0.13 0.07 0.10 0.18 0.26 0.04 0.03 0.02 1.36 0.15 0.08 0.12 0.02 0.99 0.72 0.02 0.00 0.04 0.40 0.16 0.17 0.01 0.02 0.01 0.01 0.03 0.01 0.01 0.00 0.02 0.03 0.08 0.11

+ 0.03 0.04 + 0.04 0.06 + 0.35 0.45 + 0.05 0.06 0.34 0.35 0.00 0.12 0.10 0.10 + 0.07 0.08 + 0.09 0.09 0.12 0.14 0.02 0.02 unch + 0.10 0.12 0.15 0.16 unch + 0.26 0.28 + 0.18 0.21 0.21 0.21 unch 0.50 0.50 unch + 0.36 0.37 + 0.15 0.15 0.20 0.22 unch + 0.63 0.77 0.01 0.01 unch 0.10 0.10 unch 0.08 0.08 unch 0.00 0.00 0.00 0.15 0.00 0.10 0.17 0.19 + 0.06 0.08 + 0.08 0.11 0.86 0.89 + 1.17 1.20 0.00 0.00 unch 0.08 0.09 unch 0.02 0.02 unch + 0.01 0.01 + 0.28 0.33 0.00 0.00 unch 0.00 0.00 unch 0.20 0.22 0.00 0.01 unch + 0.00 0.06 0.45 0.46 0.62 0.63 0.78 0.79 + 0.20 0.27 + 0.17 0.21 + 15.31 16.29 + 8.82 9.38 0.07 0.07 + 0.09 0.10 0.13 0.13 unch 0.14 0.14 unch 0.12 0.12 1.89 1.90 1.32 1.41 1.22 1.22 0.42 0.54 + 0.09 0.12 0.07 0.07 + 0.28 0.37 + 0.21 0.28 0.03 0.04 unch 0.02 0.02 unch 0.13 0.14 + 0.10 0.13 0.07 0.07 unch 0.08 0.09 + 0.11 0.11 + 0.31 0.32 + 0.22 0.24 + 0.04 0.05 + 0.03 0.04 + 0.16 0.19 + 0.12 0.14 0.51 0.59 0.68 0.76 unch + 0.05 0.06 0.04 0.05 0.10 0.10 unch 0.09 0.09 + 0.12 0.12 + 0.02 0.04 + 0.00 0.05 0.01 0.01 unch + 0.04 0.07 + 0.02 0.05 0.03 0.03 unch + 0.02 0.03 + 9.70 11.15 + 13.14 15.13 + 0.74 0.78 + 1.00 1.06 1.82 1.86 + 1.34 1.37 0.31 0.32 0.00 0.24 0.14 0.14 + 0.08 0.10

0.01 0.02 0.03 0.01 0.01 0.01 0.02 0.02 0.00 0.03 0.00 0.01 0.00 0.02 0.00 0.00 0.00 0.02 0.01 0.00 0.08 0.00 0.00 0.00 0.00 0.02 0.03 0.01 0.03 0.03 0.03 0.03 0.00 0.00 0.00 0.01 0.04 0.00 0.00 0.01 0.00 0.00 0.04 0.03 0.01 0.10 0.12 0.86 0.29 0.00 0.01 0.00 0.00 0.05 0.04 0.01 0.48 0.00 0.02 0.01 0.09 0.07 0.00 0.00 0.01 0.02 0.00 0.00 0.01 0.02 0.01 0.02 0.00 0.03 0.01 0.02 0.00 0.01 0.02 0.00 0.01 0.01 0.02 0.01 0.00 0.04 0.04 0.00 0.00 1.53 2.12 0.01 0.05 0.03 0.01 0.01 0.01 0.03 0.01

0.06 0.08 0.96 0.06 0.52 0.25 0.14 0.10 0.09 0.16 0.08 0.23 0.25 0.37 0.32 0.62 0.72 0.55 0.31 0.26 0.85 0.04 0.20 0.15 0.00 0.25 0.17 0.24 0.14 0.18 1.04 1.42 0.00 0.15 0.03 0.02 0.33 0.01 0.01 0.27 0.08 0.31 0.55 0.73 1.65 0.29 0.18 17.04 9.83 0.07 0.10 0.14 0.14 0.20 2.00 1.60 4.00 1.00 0.13 0.08 0.60 0.41 0.08 0.06 0.18 0.23 0.17 0.13 0.13 0.72 0.44 0.06 0.05 0.22 0.16 0.80 0.96 0.16 0.10 0.14 0.11 0.15 0.05 0.06 0.04 0.07 0.05 0.09 0.07 11.29 14.99 0.83 1.11 2.09 1.54 0.41 0.30 0.19 0.15

0.01 0.02 0.04 0.02 0.16 0.07 0.01 0.00 0.02 0.03 0.01 0.03 0.06 0.06 0.03 0.20 0.24 0.19 0.05 0.05 0.14 0.01 0.08 0.05 0.00 0.09 0.04 0.03 0.02 0.03 0.13 0.22 0.00 0.05 0.01 0.00 0.08 0.00 0.00 0.07 0.00 0.03 0.12 0.17 0.45 0.04 0.04 2.69 3.20 0.03 0.04 0.11 0.03 0.05 0.99 0.70 1.10 0.24 0.04 0.03 0.19 0.11 0.02 0.01 0.07 0.08 0.07 0.02 0.02 0.18 0.12 0.03 0.02 0.06 0.04 0.31 0.40 0.03 0.02 0.10 0.02 0.04 0.01 0.02 0.01 0.02 0.01 0.02 0.01 4.60 6.29 0.14 0.19 0.21 0.16 0.28 0.19 0.02 0.03

0.07 0.20 0.16 0.00 0.24 0.75 0.11 0.00 0.50 0.55 0.19 0.14 0.00 1.00 0.16 0.11 0.04 0.00 0.07 3.90 4.91 8.16 0.12 0.16 0.12 0.17 0.10 0.07 0.01 0.64 0.47 0.02 0.04 0.11 0.15 0.20 0.32 0.04 0.05 0.52 0.72 0.09 0.06 0.07 3.56 2.58 0.15 0.23 0.05 3.08 2.26 0.13 0.07 0.09 0.47 0.23 0.32 0.00 0.00 0.02 0.03 0.04 0.00 0.04 0.00 0.04 0.05 0.22 0.29

D-F

GLOBAL MINING NEWS

(100s) Stock

Exc Volume

Emgold Mining* Empress Res 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 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 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 Euro Manganese Euro Sun Mg Euro Sun Mg* EurOmax Res* EurOmax Res European Elect* European Elect European Metal* Eurotin Evergold Evergold* Evolving Gold Evolving Gold* Evrim Res Excellon Res Excellon Res* Excelsior Mng* Excelsior Mng ExGen Res Inc Explorex Res* Explorex Res Fabled Copper Falco Res Falco Res * Falcon Gold Fancamp Expl Far Res Far Res* FenixOro Gold FenixOro Gold* Fidelity Min Fidelity Min* Fieldex Expl Filo Mg Corp Filo Mg Corp * Finlay Minrls Fiore Gold* Fiore Gold Fiorentina Min Fire River Gol* FireFox Gold Firestone Vent Fireweed Zinc Fireweed Zinc* Firma Holdings* First Cobalt * First Cobalt First Energy* First Energy First Majestic First Majestic* First Mexican First Mexican* 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* Five Star Diam Fjordland Exp* Fjordland Exp Flow Metals Flowery Gold* Focus Graphite* Focus Graphite 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 Fox River Res Fox River Res* FPX Nickel Franco-Nevada* Franco-Nevada Franklin Mng* Freegold Vent Freeman Gold Freeport McMoR* Freeport Res Fremont Gold Fresnillo plc* Frontier Lith Frontline Gold Fura Gems Fura Gems* Fuse Cobalt* Fuse Cobalt

O 405 V 713 V 413 X 3554 O 16 V 180 V 825 T 3190 O 137 N 21694 T 3023 O 38 V 103 V 24029 O 1861 T 853 X 4440 V 6382 V 521 O 5 O 28 O 325 T 413 X 7247 T 4352 V 242 O 6 O 85 V 723 T 6471 O 1047 V 49 T 790 O 8 O 6 V 675 V 675 O 960 V 1220 V 209 O 478 V 713 C 756 V 278 T 3289 O 704 O 33 T 294 O 153 V 542 O 1 V 12 V 414 O 112 C 68 O 3 V 307 T 1792 O 732 O 505 T 380 V 3605 O 1 C 6 V 153 V 2490 O 257 V 6264 V 566 C 2019 O 62 C 2022 O 1684 V 208 O 17 V 482 V 389 O 19 V 447 O 1258 V 2130 C 136 O 7 V 1386 V 41 V 308 O 15 O 36 O 805 V 1445 O 51 C 111 T 6509 N 29975 V 185 O 60 T 9347 O 7504 O 53 T 18813 V 197 O 319 V 1664 O 513 O 1211 T 1858 O 0 V 1317 O 62 V 325 C 48 O 3 O 491 V 868 V 336 T 106 V 63 O 1 O 14 T 4703 N 16356 V 792 O 51 O 368 T 869 V 577 O 324 V 1920 C 33 O 4 V 428 N 3877 T 2336 O 524 T 15084 C 2061 N 138290 V 288 V 2257 O 129 V 444 V 2438 V 425 O 35 O 2571 V 3326

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* General Moly* General Moly Generation Min

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

Week High

Low

0.07 0.04 4.05 3.02 0.03 0.04 0.33 36.62 27.00 2.66 3.61 0.06 0.08 0.38 0.28 2.22 1.65 0.15 0.05 0.04 0.05 0.33 0.45 11.80 15.95 0.02 0.02 0.09 0.13 0.65 0.45 0.05 19.48 14.30 0.09 0.13 0.13 0.30 0.41 0.33 0.10 0.15 0.40 0.08 0.38 0.28 0.03 0.05 0.02 0.03 0.19 0.02 0.95 0.68 0.03 0.01 0.51 0.96 0.71 0.53 0.72 0.02 3.65 5.25 0.16 0.51 0.72 0.15 0.07 0.09 0.06 0.55 0.55 0.08 0.04 0.17 2.11 1.54 0.07 1.08 1.42 0.22 0.45 0.19 0.05 0.58 0.43 0.01 0.11 0.15 0.15 0.20 14.80 10.95 0.49 0.30 0.52 0.38 0.15 13.50 0.32 0.23 0.06 0.05 0.23 0.31 0.00 0.04 0.06 0.08 0.11 0.08 0.02 0.03 0.15 0.15 0.11 0.12 10.57 7.11 5.26 1.50 1.21 0.06 0.08 0.11 0.08 4.93 0.09 0.05 0.20 146.23 197.62 0.01 1.54 0.72 13.10 0.38 0.15 12.00 0.22 0.03 0.14 0.10 0.08 0.10

0.06 0.03 2.96 2.18 0.02 0.03 0.27 32.97 23.88 2.21 2.99 0.00 0.07 0.25 0.18 2.06 1.51 0.09 0.05 0.04 0.04 0.28 0.39 10.88 14.75 0.01 0.02 0.06 0.08 0.40 0.30 0.00 17.98 13.36 0.08 0.10 0.10 0.24 0.32 0.30 0.08 0.12 0.34 0.07 0.33 0.25 0.03 0.03 0.01 0.02 0.00 0.02 0.85 0.64 0.00 0.00 0.46 0.84 0.62 0.49 0.65 0.00 3.65 4.80 0.07 0.42 0.30 0.11 0.06 0.07 0.05 0.44 0.33 0.07 0.04 0.12 1.85 1.40 0.05 0.90 1.22 0.20 0.07 0.14 0.04 0.50 0.39 0.01 0.09 0.14 0.12 0.17 12.70 9.38 0.39 0.00 0.46 0.33 0.13 10.81 0.25 0.18 0.05 0.04 0.19 0.26 0.00 0.03 0.04 0.00 0.08 0.08 0.01 0.02 0.13 0.13 0.11 0.12 9.29 6.42 4.73 0.89 0.00 0.05 0.07 0.10 0.07 3.80 0.00 0.05 0.18 137.86 186.74 0.01 1.11 0.57 11.90 0.33 0.12 11.00 0.20 0.02 0.13 0.08 0.05 0.07

Last

0.84 1.15 0.51 0.38 0.08 0.11 0.05 0.20 0.15 0.29 0.25 2.43 1.78 0.16 0.13 0.02 0.20 0.27 0.90 1.21 0.06 0.09 0.59 0.80 0.39 0.30 0.24 0.31 0.39

0.70 0.95 0.46 0.34 0.07 0.10 0.04 0.14 0.10 0.29 0.20 1.87 1.38 0.11 0.08 0.02 0.12 0.16 0.71 0.95 0.06 0.00 0.52 0.70 0.36 0.26 0.22 0.31 0.35

(100s)

12-month Change

High Low

Stock

Generation Min* Generic Gold Genesis Mtls* Genesis Mtls Genius Metals Gensource Pot Geomega Res Geomega Res* Gespeg Res Getchell Gold * Getchell Gold Getty Copper GFG Resources GFG Resources* 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 Global Vanad* GlobalMin Vent* Globex Mng Globex Mng* GMV Minerals GMV Minerals* GNCC Capital* Go Cobalt* Go Cobalt GobiMin GoGold Res Gold Fields* Gold Fields* Gold Finder Ex Gold Finder Ex* Gold Lion Res Gold Lion Res* Gold Plus Gold Reserve* Gold Reserve Gold Resource* Gold Rush Cari* Gold Rush Cari Gold Std Vents Gold Std Vents* Gold X Mining Goldbank Mng Goldcliff Res* Goldcliff Res Golden Arrow* Golden Arrow Golden Band* Golden Birch Golden Cariboo Golden Dawn Ml Golden Dawn Ml* Golden Goliath Golden Goliath* Golden Harp* 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 Valley* Golden Valley Goldex Res* Goldex Res Goldgroup Mng Goldgroup Mng* GoldHaven Res* GoldHaven Res GoldMining GoldMining* GoldON Res* GoldON Res GoldQuest Mng Goldrea Res Goldrea Res* Goldrich Mng* 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 Graphite Egy* Graphite One* Graphite One Gratomic* Gratomic Gray Rock Res Great Atlantic Great Bear Res Great Bear Res* Great Lakes Gr* Great Panther Great Panther* Great Thunder* Greatbanks Re Green River Green Swan Cap Green Valley M Greencastle Rs Greenland M&En* Greenshield Ex Grenville Gold Grenville Gold* Grid Metals Grid Metals* Grizzly Discvr* Grizzly Discvr Grosvenor Res Group Eleven Group Ten Mtls* Group Ten Mtls GrowMax Res* GSP Resource GT Gold GT Gold * Gungnir Res* Gungnir Res Gunpoint Expl Guyana Gldflds Guyana Goldstr Guyana Goldstr* Handa Mining

0.07 0.04 + 3.91 + 2.89 + 0.02 0.03 unch 0.30 + 34.11 + 25.12 + 2.61 + 3.54 + 0.06 + 0.08 + 0.27 + 0.20 + 2.12 + 1.56 + 0.13 + 0.05 unch 0.04 unch 0.04 + 0.32 + 0.45 + 11.54 + 15.69 + 0.02 + 0.02 unch 0.09 + 0.12 + 0.52 + 0.39 + 0.05 unch 18.18 + 13.48 0.08 + 0.12 + 0.12 + 0.25 0.34 + 0.33 0.10 + 0.14 + 0.37 + 0.07 0.35 0.26 0.03 unch 0.04 + 0.02 + 0.03 + 0.19 0.02 unch 0.90 0.67 + 0.03 + 0.01 0.48 unch 0.91 + 0.66 + 0.53 + 0.72 + 0.01 unch 3.65 4.80 0.11 + 0.43 0.32 + 0.14 + 0.06 0.08 0.06 + 0.49 + 0.36 + 0.08 unch 0.04 unch 0.17 + 1.89 1.42 0.05 unch 0.95 + 1.31 + 0.22 + 0.26 + 0.19 + 0.05 0.55 + 0.40 + 0.01 + 0.10 0.15 + 0.14 + 0.17 14.16 + 10.41 + 0.43 + 0.30 + 0.49 + 0.36 + 0.14 + 13.45 + 0.27 0.20 0.06 + 0.05 + 0.21 + 0.29 + 0.02 unch 0.04 + 0.06 + 0.07 + 0.09 0.08 unch 0.02 0.03 + 0.15 + 0.13 0.11 0.12 unch 10.30 + 6.83 + 5.03 + 1.40 + 1.01 + 0.06 0.08 0.10 unch 0.08 + 4.10 0.09 + 0.05 unch 0.20 + 143.00 + 194.63 + 0.01 + 1.36 + 0.63 12.98 + 0.36 + 0.14 + 11.84 + 0.21 + 0.02 + 0.13 0.09 + 0.07 + 0.09 +

0.00 0.01 0.83 0.67 0.00 0.00 0.02 1.25 1.51 0.38 0.55 0.00 0.01 0.07 0.07 0.03 0.06 0.03 0.00 0.00 0.00 0.04 0.05 0.75 0.70 0.01 0.00 0.02 0.03 0.12 0.10 0.00 0.06 0.52 0.00 0.02 0.02 0.01 0.02 0.01 0.01 0.01 0.03 0.01 0.02 0.01 0.00 0.01 0.00 0.01 0.01 0.00 0.04 0.03 0.01 0.00 0.00 0.02 0.04 0.06 0.07 0.00 0.00 0.35 0.05 0.05 0.00 0.01 0.01 0.01 0.00 0.05 0.02 0.00 0.00 0.03 0.10 0.05 0.00 0.01 0.06 0.02 0.18 0.06 0.01 0.06 0.03 0.00 0.00 0.01 0.01 0.03 1.28 0.91 0.05 0.01 0.04 0.03 0.02 2.79 0.02 0.02 0.01 0.01 0.01 0.01 0.00 0.02 0.03 0.02 0.12 0.00 0.00 0.01 0.04 0.02 0.01 0.00 0.62 0.19 0.14 0.51 0.42 0.00 0.01 0.00 0.00 0.78 0.02 0.00 0.02 6.22 8.48 0.00 0.07 0.10 1.48 0.03 0.01 1.34 0.01 0.01 0.02 0.01 0.01 0.02

0.11 0.06 4.05 3.02 0.11 0.15 0.33 36.62 27.60 3.20 4.26 0.06 0.08 0.42 0.32 4.04 3.08 0.15 0.10 0.08 0.06 0.35 0.46 11.80 15.95 0.06 0.03 0.08 0.13 0.65 0.45 0.10 25.69 19.20 0.11 0.17 0.17 0.30 0.41 0.50 0.24 0.32 0.49 0.20 0.51 0.41 0.05 0.07 0.03 0.04 1.00 0.04 0.95 0.71 0.07 0.05 0.51 1.51 1.15 0.94 1.23 0.02 4.27 6.75 0.16 0.51 0.72 0.15 0.08 0.09 0.07 0.55 0.55 0.25 0.19 0.18 3.25 2.31 0.07 1.08 1.42 0.22 0.90 0.21 0.07 0.70 0.54 0.04 0.13 0.18 0.21 0.30 16.50 12.69 0.49 0.30 0.52 0.38 0.16 14.10 0.41 0.32 0.12 0.09 0.39 0.50 0.04 0.06 0.06 0.08 0.20 0.51 0.03 0.03 0.30 0.23 0.16 0.12 10.57 7.11 5.26 1.50 0.83 0.08 0.10 0.11 0.08 5.34 0.12 0.07 0.23 152.70 214.82 0.10 1.46 0.84 13.64 0.73 0.15 12.00 0.35 0.03 0.23 0.18 0.10 0.14

0.74 1.00 0.49 + 0.36 + 0.07 0.10 0.05 + 0.18 + 0.13 + 0.29 unch 0.20 2.30 + 1.68 + 0.12 0.09 0.02 unch 0.13 0.19 0.88 + 1.19 + 0.06 + 0.08 0.54 0.73 0.37 0.28 0.23 + 0.31 + 0.38 +

0.01 0.11 0.03 0.01 0.01 0.01 0.01 0.03 0.03 0.00 0.10 0.46 0.29 0.03 0.03 0.00 0.14 0.05 0.18 0.24 0.00 0.01 0.05 0.06 0.03 0.02 0.02 0.03 0.03

0.87 1.20 0.71 0.54 0.34 0.60 0.12 0.20 0.15 9.50 0.58 2.24 1.78 0.20 0.14 0.04 0.27 0.39 0.89 1.21 0.07 0.09 1.70 2.25 0.71 0.54 0.40 0.54 0.75

0.03 0.01 1.54 1.18 0.01 0.01 0.08 15.68 11.02 0.99 1.30 0.02 0.03 0.05 0.04 1.10 0.78 0.03 0.02 0.02 0.01 0.05 0.22 4.63 5.80 0.01 0.00 0.03 0.04 0.13 0.09 0.03 8.40 5.92 0.03 0.05 0.05 0.04 0.07 0.10 0.05 0.08 0.12 0.05 0.14 0.02 0.01 0.02 0.00 0.01 0.00 0.01 0.17 0.15 0.01 0.00 0.19 0.31 0.19 0.30 0.42 0.01 0.00 3.49 0.02 0.17 0.11 0.03 0.03 0.02 0.01 0.10 0.08 0.02 0.02 0.04 1.00 0.77 0.02 0.19 0.27 0.10 0.00 0.04 0.03 0.31 0.21 0.00 0.05 0.08 0.02 0.04 5.30 4.17 0.04 0.03 0.12 0.09 0.08 4.71 0.13 0.08 0.03 0.02 0.07 0.10 0.02 0.01 0.02 0.03 0.08 0.08 0.01 0.01 0.08 0.06 0.08 0.08 4.61 2.05 1.47 0.22 0.14 0.03 0.04 0.05 0.03 0.91 0.04 0.03 0.10 77.18 105.93 0.00 0.04 0.11 4.82 0.08 0.04 5.53 0.14 0.01 0.05 0.05 0.01 0.02

G-H 22 775 410 223 32 98 599 5487 761 49 42 2398 12938 11530 1406 72 100 216 826 2403 23 111 242 875 615 353 1655 3 2059

21

THE NORTHERN MINER / J U LY 2 0 – AU GU ST 2 , 2 0 2 0

0.13 0.14 0.40 0.26 0.03 0.03 0.02 0.05 0.03 0.10 0.02 0.80 0.56 0.03 0.02 0.01 0.06 0.07 0.20 0.27 0.03 0.02 0.26 0.37 0.24 0.17 0.14 0.22 0.19

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

496 1333 803 2383 75 866 815 130 83 525 666 402 1105 518 8 10 294 73 452 212 2748 200 97 322 456 8 56 659 3897 134 27 157 908 1055 514 0 194 41 141 0 226 205 0 1 366 79 107 103 30264 86 53 13 2480 5 41652 3299 505 1259 436 286 44 87 6865 20 3921 974 6789 406 30 36 671 871 1221 844 85 75 173 13 5120 1286 1 30 658 25 3532 275 6398 56 146 872 23 126 156 4048 44 1767 502 378 13 727 2578 512 185 1702 2076 1819 84 411 3541 670 143 397 35 8090 3830 1134 2 14 78 103 9 577 2039 2966 439 436 225 258 3022 678 275 1871 1399 434 2663 1015 219 14 183 100 49 662 67 106 934 341 950 2601 16623 154 81 334 161 28 468 1009 33 2 0 1682 476 1028 859 26 2546 551 567 165 183 7833 408 160 238 0 3285 1531 87 31

Week High

Low

0.29 0.54 0.36 0.40 0.20 0.15 0.18 0.14 0.08 0.25 0.35 0.04 0.27 0.20 0.07 0.10 0.20 0.14 0.24 0.18 0.02 0.01 0.14 0.20 0.16 0.11 0.19 0.31 0.43 0.09 0.07 2.25 4.43 0.60 0.46 0.06 0.08 0.02 0.02 1.25 0.08 0.09 0.00 0.12 0.47 0.34 0.26 0.19 0.00 0.04 0.05 0.26 1.15 10.20 10.68 0.13 0.10 0.64 0.48 0.15 1.72 2.29 4.50 0.02 0.03 1.25 0.93 4.00 0.17 0.07 0.09 0.14 0.19 0.00 0.20 0.07 0.11 0.08 0.26 0.19 0.15 0.27 0.28 0.17 0.22 0.68 0.50 0.25 0.35 0.27 1.40 0.11 4.08 3.02 0.00 0.16 0.53 0.70 0.08 0.12 0.04 0.03 0.37 0.45 2.40 1.83 0.55 0.75 0.35 0.05 0.04 0.02 0.57 0.19 0.14 0.03 0.02 0.18 0.24 0.25 0.20 0.05 0.13 0.18 0.26 0.36 0.05 0.09 0.70 0.51 5.72 7.47 0.26 0.19 0.65 0.49 0.10 0.37 0.45 0.59 0.12 0.17 0.10 0.45 19.20 14.12 0.00 0.84 0.63 0.56 0.16 0.08 0.02 0.35 0.10 0.11 0.15 0.07 0.05 0.20 0.15 0.07 0.09 0.15 0.09 0.18 0.24 0.02 0.37 2.25 1.63 0.06 0.08 0.00 1.79 0.05 0.05 0.05

0.25 0.27 0.23 0.32 0.19 0.14 0.16 0.12 0.07 0.21 0.28 0.04 0.24 0.17 0.05 0.00 0.15 0.12 0.18 0.13 0.01 0.01 0.11 0.14 0.11 0.11 0.19 0.23 0.31 0.09 0.06 2.14 4.27 0.54 0.39 0.00 0.07 0.01 0.02 0.00 0.05 0.07 0.00 0.12 0.43 0.32 0.22 0.17 0.00 0.02 0.03 0.26 1.00 0.00 9.30 0.11 0.08 0.55 0.40 0.09 1.67 2.24 3.73 0.00 0.02 1.12 0.81 3.56 0.12 0.00 0.08 0.12 0.16 0.00 0.17 0.07 0.09 0.00 0.19 0.14 0.15 0.22 0.20 0.17 0.18 0.57 0.42 0.21 0.29 0.20 1.30 0.10 3.69 2.70 0.00 0.14 0.45 0.62 0.06 0.08 0.03 0.02 0.31 0.28 2.26 1.62 0.00 0.64 0.24 0.03 0.03 0.01 0.40 0.15 0.11 0.02 0.02 0.14 0.22 0.23 0.17 0.04 0.10 0.14 0.21 0.00 0.05 0.07 0.56 0.41 5.00 6.81 0.21 0.16 0.50 0.36 0.09 0.00 0.35 0.49 0.10 0.11 0.06 0.38 17.11 12.60 0.00 0.72 0.52 0.46 0.00 0.07 0.00 0.32 0.08 0.09 0.14 0.07 0.05 0.17 0.13 0.06 0.08 0.12 0.06 0.15 0.21 0.02 0.29 1.48 1.10 0.00 0.07 0.00 1.73 0.04 0.03 0.00

Last

12-month Change

0.29 + 0.42 + 0.24 0.33 0.20 + 0.15 + 0.18 + 0.13 + 0.07 unch 0.25 + 0.34 + 0.04 unch 0.25 0.19 + 0.05 unch 0.10 + 0.19 + 0.14 + 0.24 + 0.17 + 0.02 + 0.01 unch 0.13 0.14 0.14 0.11 unch 0.19 unch 0.31 + 0.41 + 0.09 unch 0.07 + 2.24 + 4.41 + 0.55 0.41 0.06 unch 0.08 + 0.02 + 0.02 + 1.25 0.06 0.07 0.14 unch 0.12 unch 0.44 + 0.32 + 0.26 0.19 + 0.00 unch 0.03 unch 0.04 0.26 unch 1.15 + 10.20 + 10.47 + 0.13 unch 0.09 0.57 0.40 + 0.15 + 1.72 + 2.29 4.16 + 0.02 + 0.03 unch 1.14 0.82 3.87 0.17 + 0.07 + 0.08 0.14 + 0.19 + 0.00 + 0.20 + 0.07 + 0.10 + 0.08 + 0.23 0.17 0.15 unch 0.27 + 0.28 + 0.17 unch 0.20 + 0.60 + 0.43 + 0.25 + 0.31 + 0.24 + 1.32 + 0.11 + 3.88 + 2.87 + 0.00 unch 0.15 unch 0.52 + 0.70 + 0.07 + 0.08 0.04 + 0.03 + 0.34 + 0.42 unch 2.33 1.72 0.52 + 0.72 + 0.32 + 0.05 + 0.04 + 0.01 0.57 + 0.17 + 0.12 + 0.03 + 0.02 unch 0.16 + 0.23 0.24 unch 0.20 + 0.05 + 0.10 0.14 0.26 + 0.34 + 0.05 unch 0.08 unch 0.67 + 0.50 + 5.13 + 7.00 + 0.22 0.16 + 0.58 unch 0.43 + 0.10 unch 0.37 + 0.39 0.51 0.10 0.15 0.08 + 0.45 + 17.78 + 13.11 0.00 0.84 + 0.62 + 0.52 + 0.14 0.07 0.02 0.34 + 0.09 + 0.10 + 0.14 0.07 unch 0.05 unch 0.17 0.13 0.06 0.08 + 0.12 unch 0.08 + 0.16 0.22 0.02 unch 0.29 1.78 1.31 0.05 0.08 + 0.52 unch 1.78 + 0.04 0.04 0.05 +

0.03 0.17 0.02 0.03 0.01 0.01 0.02 0.02 0.00 0.01 0.04 0.00 0.02 0.00 0.00 0.02 0.04 0.01 0.04 0.03 0.01 0.00 0.01 0.01 0.01 0.00 0.00 0.07 0.08 0.00 0.01 0.14 0.17 0.04 0.06 0.00 0.01 0.00 0.01 0.51 0.00 0.01 0.00 0.00 0.01 0.03 0.02 0.01 0.00 0.00 0.02 0.00 0.14 2.35 1.20 0.00 0.01 0.01 0.05 0.06 0.01 0.01 0.31 0.00 0.00 0.03 0.05 0.08 0.06 0.00 0.01 0.02 0.02 0.00 0.01 0.01 0.01 0.02 0.01 0.01 0.00 0.04 0.07 0.00 0.01 0.01 0.01 0.03 0.07 0.03 0.02 0.01 0.01 0.15 0.00 0.00 0.03 0.05 0.01 0.01 0.02 0.02 0.03 0.00 0.05 0.06 0.03 0.11 0.08 0.02 0.00 0.00 0.02 0.02 0.02 0.01 0.00 0.02 0.01 0.00 0.03 0.01 0.01 0.03 0.05 0.01 0.00 0.00 0.09 0.06 0.05 0.17 0.01 0.02 0.00 0.17 0.00 0.12 0.01 0.02 0.04 0.01 0.03 0.05 0.17 0.13 0.00 0.11 0.09 0.09 0.02 0.01 0.01 0.04 0.01 0.00 0.01 0.00 0.00 0.01 0.01 0.00 0.01 0.00 0.01 0.02 0.01 0.00 0.05 0.29 0.14 0.00 0.01 0.00 0.03 0.01 0.00 0.01

(100s)

High Low

Stock

0.62 0.54 0.38 0.49 0.24 0.17 0.21 0.16 0.13 0.26 0.35 0.04 0.44 0.32 0.10 0.17 0.33 0.29 0.53 0.40 0.06 0.04 0.26 0.35 0.30 0.13 0.25 0.34 0.46 0.14 0.10 3.50 6.94 0.90 0.65 0.09 0.16 0.04 0.05 2.35 0.12 0.15 0.15 0.58 0.47 0.34 0.28 0.19 0.00 0.14 0.10 0.36 1.09 10.20 10.68 0.15 0.11 0.75 0.48 0.17 1.90 2.47 6.24 0.03 0.05 1.46 1.11 4.34 0.19 0.14 0.18 0.24 0.31 0.01 0.28 0.07 0.38 0.28 0.26 0.19 0.15 0.32 0.28 0.18 0.22 0.71 0.53 0.25 0.38 0.78 1.65 0.16 6.48 4.97 0.01 0.16 0.53 0.70 0.10 0.14 0.06 0.04 0.37 0.45 2.48 1.90 0.82 1.15 0.35 0.10 0.07 0.04 0.59 0.19 0.14 0.05 0.02 0.23 0.80 2.18 0.20 0.08 0.15 0.20 0.31 0.46 0.07 0.10 0.70 0.51 5.72 7.81 0.26 0.19 0.65 0.49 0.10 0.37 0.54 0.75 0.18 0.20 0.10 0.80 19.83 14.54 0.04 1.28 0.98 0.56 0.16 0.09 0.04 0.40 0.10 0.12 0.22 0.25 0.13 0.27 0.20 0.07 0.09 0.17 0.09 0.28 0.38 0.15 0.44 2.25 1.63 0.11 0.13 0.74 1.80 0.18 0.16 0.05

Handeni Gold* Hanna Capital Hannan Metals Hannan Metals* Happy Ck Mnrls Harfang Explor* Harfang Explor Harmony Gold* Harte Gold* Harte Gold Harvest Gold* Harvest Gold Hawkeye Gld&Di* Hawkeye Gld&Di Heatherdale Rs Hecla Mining* Hemcare Health* Hemlo Expl Hemlo Expl* Heron Res* High Point Exp Highbank Res HighGold* HighGold Highland Copp* Highland Copp Highway 50 Gld Hochschild Mg* Honey Badger E* Honey Badger E Horizonte Mnls HudBay Min HudBay Min* Hudson Res Hudson Res* Hunt Mng* Hunt Mng Hybrid Mineral Hylands Intl

O V V O V O V N O T O V O V V N O V O O C V O V O V V O O V T T N V O 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 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 Infrastructure* Inomin Mines Intact Gold Integra Res* Integra Res Inter-Rock Mnl Intercontinent Intercontinent* Intl Battery* Intl Battery Intl Bethl Mng Intl Bethl Mng* Intl Cobalt* Intl Cobalt Intl Lithium* Intl Lithium Intl Millm Mng Intl Montoro* Intl Montoro Intl Prospect * Intl Prospect Intl Samuel Ex* Intl Samuel Ex 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* Irving Res* Irving Res IsoEnergy Ltd Itafos* Itafos Itoco Inc* Ivanhoe Mines* Ivanhoe Mines Jade Leader* Jade Leader Jaeger Res Jaguar Mng Jaguar Mng* Japan Gold Japan Gold* Jaxon Mining* Jaxon Mining Jayden Res Jayden Res* Jazz Res JDF Explor Inc Jervois Mining Jervois Mining* Jiulian Res JNC Resources* JNC Resources Josemaria Res* Josemaria Res Joshua Gold* Jourdan Res Jubilee Gold Jubilee Metals* Juggernaut Exp* Juggernaut Exp Jupiter Gold* K2 Gold K92 Mining* K92 Mining 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 Kings Bay Res* Kingsmen Res Kingsmen Res* Kinross Gold Kinross Gold* Kintavar Exp Kirkland Lake* Kirkland Lake Klondike Gold* Klondike Gold Klondike Silv* Klondike Silv

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

0.15 0.02 0.10 0.15 0.14 0.07 0.09 0.06 0.03 0.05 0.06 0.02 0.07 0.05 0.02 0.03 0.05 0.05 0.13 0.09 0.01 0.00 0.04 0.04 0.11 0.09 0.05 0.11 0.15 0.07 0.05 1.29 2.51 0.23 0.18 0.03 0.02 0.00 0.01 0.55 0.03 0.03 0.07 0.10 0.26 0.19 0.08 0.05 0.00 0.01 0.02 0.20 0.37 4.09 3.79 0.02 0.02 0.17 0.34 0.05 1.05 1.82 2.02 0.00 0.01 0.46 0.27 0.75 0.09 0.05 0.07 0.06 0.09 0.00 0.03 0.02 0.04 0.02 0.04 0.02 0.03 0.04 0.06 0.05 0.07 0.20 0.13 0.04 0.04 0.08 0.66 0.03 2.56 1.85 0.00 0.03 0.24 0.31 0.05 0.06 0.02 0.01 0.11 0.06 0.82 0.61 0.14 0.20 0.09 0.02 0.01 0.01 0.07 0.06 0.03 0.01 0.02 0.00 0.12 0.12 0.00 0.02 0.05 0.08 0.08 0.08 0.02 0.03 0.10 0.07 2.10 2.88 0.09 0.06 0.10 0.07 0.03 0.00 0.09 0.12 0.00 0.03 0.04 0.30 3.68 7.46 0.00 0.32 0.23 0.10 0.06 0.04 0.01 0.05 0.03 0.04 0.00 0.06 0.05 0.08 0.05 0.01 0.02 0.08 0.02 0.09 0.12 0.00 0.08 0.66 0.50 0.02 0.03 0.43 0.25 0.02 0.01 0.02

Exc Volume

Week

12-month

High

Low

Last

99 291 1786 597 382 15 273 58196 743 4402 74 716 537 2014 918 65223 15 438 17 1 40 208 157 387 382 1771 225 84 109 490 215 7289 5648 164 300 286 1898 140 80

0.13 0.04 0.52 0.38 0.12 0.23 0.31 5.97 0.13 0.17 0.13 0.20 0.02 0.03 0.25 4.03 1.65 0.74 0.52 0.03 0.08 0.01 1.40 1.91 0.03 0.04 0.09 2.57 0.03 0.03 0.07 4.71 3.46 0.12 0.09 0.10 0.13 0.05 0.06

0.05 0.04 0.37 0.27 0.00 0.23 0.27 4.60 0.11 0.15 0.08 0.12 0.01 0.02 0.18 3.19 1.50 0.50 0.37 0.03 0.08 0.01 1.30 1.76 0.02 0.03 0.00 2.22 0.02 0.00 0.00 4.01 2.95 0.09 0.06 0.04 0.06 0.00 0.04

0.11 0.04 0.48 0.35 0.10 0.23 0.30 5.82 0.12 0.16 0.13 0.17 0.01 0.03 0.23 4.02 1.61 0.71 0.52 0.03 0.08 0.01 1.33 1.81 0.02 0.03 0.09 2.48 0.03 0.03 0.06 4.61 3.39 0.09 0.07 0.09 0.11 0.05 0.04

244 63 12086 22755 66 865 34 1950 121 64 50 1517 577 3665 297 2339 504 49 1101 727 1121 198 213 21 1 17 3 4271 13 170 144 873 784 0 38 9 71 115 319 61 363 98 136 878 5626 437 3245 26 97 1 33 5357 7454 561 23 25 4057 33 1518 183 2022 563 500 409 496 768 1 3 344 860 5381 20 9 330 6352 2425 1048 556 28 643 1364 50 28 261 652 703 314 5 252 71 163 144 524 0 169 56 792 6 1650 1721 6534 821 127 50 10 200 147 2969 0 41 1130 1146 2174 200 1946 371 1029 460 158 1550 140 76 418 23 4 129 5 25084 78148 747 14133 8042 226 548 178 1140

0.04 0.03 6.31 4.67 0.06 0.13 0.10 0.39 0.27 0.02 0.06 0.34 0.25 0.04 0.03 0.84 2.50 1.84 0.06 0.50 0.67 0.05 0.09 0.06 0.02 0.12 0.09 0.11 0.00 0.06 0.05 1.54 5.90 0.00 0.20 0.11 0.08 0.11 0.03 0.02 0.02 0.02 0.05 0.06 0.03 0.05 0.07 0.15 0.23 0.00 0.15 0.00 2.27 3.07 0.04 0.03 0.99 0.78 1.11 0.12 0.16 0.03 0.02 3.11 4.22 0.84 0.30 0.29 0.10 3.09 4.17 0.09 0.15 0.02 0.69 0.52 0.36 0.27 0.05 0.07 0.05 0.03 0.24 0.09 0.17 0.12 0.07 0.45 0.45 0.56 0.75 0.15 0.02 0.00 0.05 0.15 0.22 0.77 0.71 3.62 4.99 0.06 0.05 0.24 0.17 0.22 0.28 0.41 0.00 0.04 0.06 0.13 0.18 0.09 0.14 0.03 0.02 0.01 0.13 0.18 0.03 0.04 0.09 0.01 0.00 0.20 0.15 10.51 7.79 0.11 48.22 65.09 0.26 0.35 0.05 0.06

Change

High Low

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

0.07 0.00 0.10 0.06 0.01 0.00 0.01 1.31 0.02 0.01 0.06 0.06 0.01 0.00 0.05 0.83 0.07 0.21 0.16 0.00 0.00 0.00 0.07 0.09 0.01 0.00 0.02 0.11 0.00 0.01 0.01 0.65 0.42 0.03 0.02 0.05 0.05 0.01 0.00

0.13 0.08 0.52 0.38 0.13 0.23 0.35 5.97 0.26 0.35 0.25 0.30 0.05 0.07 0.25 4.03 1.92 0.74 0.52 0.32 0.08 0.03 1.45 1.94 0.04 0.06 0.19 2.79 0.03 0.05 0.09 7.30 5.59 0.43 0.33 0.10 0.14 0.05 0.06

0.02 0.02 0.05 0.04 0.06 0.17 0.15 1.76 0.05 0.08 0.04 0.06 0.00 0.01 0.06 1.38 0.52 0.17 0.04 0.02 0.02 0.01 0.42 0.57 0.01 0.02 0.06 0.99 0.01 0.01 0.03 1.66 1.23 0.07 0.04 0.02 0.04 0.01 0.03

0.03 0.04 + 0.02 0.03 + 5.55 6.13 + 4.09 4.49 + 0.04 0.06 0.08 0.13 + 0.00 0.09 + 0.29 0.29 0.21 0.23 0.02 0.02 unch 0.06 0.06 unch 0.28 0.33 + 0.20 0.25 + 0.03 0.03 unch 0.02 0.03 + 0.70 0.78 + 2.02 2.40 + 1.60 1.73 + 0.05 0.06 + 0.35 0.44 + 0.48 0.59 + 0.03 0.03 + 0.00 0.09 + 0.04 0.05 + 0.02 0.02 unch 0.00 0.09 unch 0.00 0.07 0.10 0.10 + 0.00 0.00 + 0.05 0.05 0.05 0.05 1.36 1.50 1.86 5.52 + 0.00 0.28 unch 0.16 0.16 unch 0.10 0.11 unch 0.06 0.07 + 0.09 0.10 0.02 0.03 + 0.01 0.02 + 0.01 0.02 + 0.00 0.01 0.04 0.04 + 0.05 0.05 0.02 0.03 + 0.03 0.05 + 0.05 0.07 + 0.11 0.15 + 0.17 0.22 + 0.00 0.12 unch 0.00 0.15 + 0.00 0.00 unch 1.73 1.98 + 2.34 2.68 + 0.04 0.04 + 0.03 0.03 unch 0.76 0.78 0.63 0.78 + 0.84 1.05 + 0.10 0.12 + 0.14 0.15 0.00 0.03 + 0.02 0.02 unch 2.82 3.03 + 3.85 4.13 + 0.65 0.79 + 0.00 0.22 0.00 0.29 0.07 0.10 + 2.72 3.06 + 3.82 4.16 + 0.08 0.09 unch 0.00 0.15 + 0.00 0.02 + 0.50 0.61 + 0.37 0.45 + 0.31 0.34 + 0.23 0.25 + 0.05 0.05 + 0.06 0.07 + 0.03 0.05 + 0.03 0.03 + 0.00 0.24 + 0.08 0.08 0.15 0.16 unch 0.10 0.12 + 0.05 0.07 + 0.29 0.33 + 0.42 0.43 0.51 0.55 + 0.70 0.74 + 0.07 0.08 0.02 0.02 unch 0.00 0.76 unch 0.05 0.05 + 0.09 0.12 0.15 0.18 0.00 0.77 + 0.51 0.61 + 2.99 3.49 + 4.05 4.68 + 0.05 0.05 0.00 0.04 + 0.20 0.21 0.00 0.17 + 0.17 0.18 0.21 0.27 0.36 0.40 + 0.00 0.00 unch 0.03 0.04 + 0.05 0.05 + 0.11 0.12 + 0.15 0.17 + 0.09 0.09 unch 0.11 0.14 + 0.02 0.03 unch 0.01 0.01 unch 0.01 0.01 unch 0.12 0.13 + 0.15 0.18 + 0.00 0.00 unch 0.03 0.03 unch 0.08 0.08 unch 0.00 0.01 unch 0.00 0.00 + 0.00 0.15 0.10 0.11 9.67 10.34 + 7.14 7.63 + + 0.10 0.10 41.28 45.81 + 55.89 62.37 + 0.23 0.25 + 0.32 0.32 0.03 0.04 + 0.05 0.06 +

0.01 0.01 0.49 0.49 0.00 0.05 0.03 0.06 0.01 0.00 0.00 0.05 0.04 0.00 0.00 0.08 0.20 0.08 0.01 0.02 0.04 0.00 0.02 0.01 0.00 0.00 0.01 0.01 0.00 0.01 0.01 1.88 0.87 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.03 0.06 0.00 0.03 0.00 0.24 0.39 0.01 0.00 0.17 0.18 0.17 0.00 0.01 0.01 0.00 0.13 0.28 0.15 0.06 0.02 0.01 0.18 0.33 0.00 0.01 0.01 0.11 0.08 0.01 0.01 0.00 0.01 0.01 0.01 0.02 0.02 0.00 0.01 0.02 0.04 0.02 0.01 0.06 0.00 0.00 0.00 0.00 0.03 0.02 0.02 0.10 0.52 0.65 0.01 0.00 0.03 0.01 0.01 0.03 0.02 0.00 0.01 0.01 0.01 0.02 0.00 0.02 0.00 0.00 0.00 0.04 0.04 0.00 0.00 0.00 0.00 0.00 0.01 0.03 0.65 0.46 0.01 4.13 6.20 0.01 0.01 0.01 0.01

0.07 0.05 6.31 4.67 0.13 0.13 0.10 0.44 0.47 0.04 0.15 1.00 0.73 0.12 0.09 0.84 2.93 2.17 0.08 0.62 0.82 0.15 0.09 0.06 0.05 0.15 0.10 0.12 0.00 0.08 0.09 3.85 5.90 0.36 0.33 0.25 0.13 0.18 0.10 0.04 0.02 0.02 0.05 0.07 0.03 0.05 0.07 0.15 0.23 0.13 0.20 0.00 2.27 3.07 0.12 0.07 3.87 0.66 0.91 0.15 0.21 0.05 0.03 3.48 4.60 0.84 1.23 1.63 0.90 3.38 4.43 0.27 0.35 0.04 0.69 0.52 0.45 0.34 0.06 0.09 0.05 0.03 0.44 0.71 0.25 0.21 0.07 5.24 0.45 0.91 1.22 0.40 0.03 0.95 0.07 0.71 0.90 2.00 0.71 3.62 4.99 0.08 0.06 0.25 0.17 0.33 0.50 0.47 0.00 0.07 0.11 0.21 0.27 0.09 0.14 0.04 0.02 0.01 0.13 0.19 0.04 0.10 0.23 0.03 0.00 0.20 0.15 10.64 7.79 0.20 51.08 67.87 0.35 0.45 0.05 0.06

0.02 0.01 2.00 1.44 0.01 0.04 0.02 0.04 0.04 0.01 0.04 0.15 0.18 0.02 0.01 0.22 0.99 0.70 0.03 0.01 0.16 0.03 0.03 0.00 0.02 0.06 0.01 0.03 0.00 0.03 0.03 1.00 1.53 0.16 0.12 0.08 0.05 0.07 0.01 0.01 0.00 0.01 0.02 0.03 0.01 0.01 0.01 0.05 0.07 0.12 0.05 0.00 0.33 0.43 0.02 0.02 0.60 0.13 0.17 0.05 0.07 0.01 0.01 1.02 1.45 0.23 0.14 0.21 0.03 1.35 1.80 0.02 0.04 0.01 0.11 0.05 0.19 0.12 0.02 0.03 0.01 0.00 0.14 0.06 0.11 0.05 0.01 0.24 0.18 0.21 0.31 0.04 0.01 0.38 0.03 0.06 0.10 0.20 0.11 1.12 1.55 0.03 0.02 0.15 0.03 0.09 0.04 0.14 0.00 0.02 0.02 0.06 0.10 0.02 0.03 0.01 0.01 0.00 0.02 0.01 0.00 0.01 0.06 0.01 0.00 0.07 0.01 4.00 2.72 0.05 18.03 25.67 0.10 0.14 0.01 0.02

I-J-K

(100s) Stock

Exc Volume

Week High

Low 0.35 0.12 0.17 0.14 0.25 0.35 1.40 1.03 0.11 0.01

Kodiak Copper* Kombat Copper* Kombat Copper Komet Resource Kootenay Silvr* Kootenay Silvr Kore Mining Kore Mining * Kutcho Copper * KWG Res

O O V V O V V O O C

89 7 663 151 1139 3426 1983 1577 137 4204

0.44 0.12 0.25 0.14 0.30 0.40 1.83 1.35 0.13 0.01

Labrador Gold* Labrador Gold Labrador IMH* Labrador IOR* Labrador IOR Lake Resources* Lara Expl Laramide Res Laredo Res* Largo Res Largo Res* Lasalle Explor Latin American Latin American* Latin Metals* Latin Metals Laurion Mnl Ex* Laurion Mnl Ex Leading Edge* Leading Edge Leeta Gold Legion Metals Lepanto Con Mg* Libero Copper* Libero Copper Liberty Gold* Liberty One Li Liberty One Li* Lincoln Mng Lion One Mtls Lion One Mtls* Lions Bay Cap Lions Gate Mtl* Lithium Amer Lithium Amer* Lithium Chile* Lithium Chile Lithium Corp* Lithium Energi* Lithium Energi Lithoquest Dia Lithoquest Dia* LKA Gold* Lode-Star Mg* 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 T O V V O O V O V O V V C O O V O V O V V O V O T N O V O O V V O O O V V O O T O V O V O T O V O V O V V T O T O V O O O

122 893 56 1 1036 271 75 1671 2622 1430 1152 122 102 100 85 121 19 1053 181 240 7620 534 100 1691 3497 1938 67 106 137 563 449 362 6 1456 5354 69 188 4993 14 164 787 5 18 1 409 1738 1390 48 129 11 213 10 69 11 520 29 524 65 269 846 1551 790 3625 238 9249 21 813 149 218 225

0.32 0.40 0.01 18.94 26.20 0.03 0.95 0.26 0.00 0.97 0.72 0.13 0.02 0.02 0.07 0.10 0.13 0.18 0.11 0.15 0.36 0.30 0.00 0.12 0.15 1.60 0.07 0.06 0.12 1.80 1.36 0.03 0.14 7.86 5.81 0.21 0.27 0.22 0.08 0.11 0.08 0.04 0.09 0.12 0.10 0.03 0.03 0.46 0.62 0.75 0.45 0.00 0.27 0.20 0.68 0.17 0.25 0.36 0.53 0.71 0.97 1.00 13.00 6.23 8.20 0.01 0.03 0.01 1.44 1.40

Macarthur Min* Macarthur Min MacDonald Mns* MacDonald Mns MAG Silver Magellan Gold* Magna Gold Magna Gold* Magnum Goldco Majestic Gold* Majestic Gold Major Precious Makara Mining* Makara Mining Makena Res* Mako Mining* Mako Mining 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 Margaret Lake Margaux Res Margaux Res* 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* Maya Gold &Sil* Maya Gold &Sil Mazarin McChip Res McEwen Mng McEwen Mng* McLaren Res MDN Inc* Mechel* Medallion Res Medallion Res* Medgold Res* Medgold Res Medinah Mnrls* Mega Uranium Mega Uranium* Megastar Dev Megastar Dev* MegumaGold MegumaGold* Melior Res Melkior Res Melkior Res* Meridian Mg Meridius Res Meryllion Res Meryllion Res* MetalCorp MetalCorp* Metalex Vent Metalex Vent * Metalla Rylty Metallic Mnrls Metallic Mnrls* Metallica Min* Metallis Res

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

548 954 2833 15798 1723 112 295 262 185 155 816 3727 1 936 286 1317 1732 234 278 79 58 339 178 91 163 6475 5253 2056 727 3547 218 813 216 294 1218 283 5 40 3462 302 2530 150 0 870 668 74 3718 50 369 1118 181 2886 1583 179 540 0 97 398 42 63 2243 21120 300 52 225 1532 1613 27 2159 2317 1982 714 733 8 378 99 98 381 102 21 38 115 2 368 20 1284 1 523 1096 824 3 259

0.15 0.21 0.10 0.14 20.64 1.36 1.58 1.22 0.05 0.03 0.06 0.80 0.63 0.96 0.40 0.36 0.49 0.04 1.89 1.40 0.10 0.13 0.10 0.06 0.05 0.06 0.19 0.14 1.62 2.16 0.04 0.12 0.09 0.04 0.06 1.90 1.36 0.17 0.13 0.05 218.68 0.12 0.00 0.16 0.20 0.12 0.04 0.01 6.19 4.55 0.30 0.41 0.16 0.06 0.08 0.00 1.10 1.57 0.16 0.50 1.56 1.15 0.07 0.45 1.82 0.16 0.12 0.05 0.07 0.00 0.10 0.07 0.13 0.10 0.18 0.13 0.04 1.08 0.80 0.29 0.12 0.01 0.00 0.03 0.02 0.05 0.02 7.51 0.45 0.35 0.01 0.45

Last

12-month Change

High Low

0.35 0.12 unch 0.20 + 0.14 0.26 0.35 1.42 1.09 0.12 + 0.01 -

0.09 0.00 0.03 0.01 0.02 0.02 0.36 0.19 0.00 0.01

0.49 0.15 0.25 0.17 0.30 0.40 1.83 1.35 0.21 0.01

0.12 0.05 0.05 0.05 0.08 0.11 0.15 0.09 0.03 0.01

0.27 0.27 + 0.36 0.37 + 0.01 0.01 0.00 18.94 + 24.16 26.18 + 0.02 0.03 + 0.81 0.89 0.22 0.25 + 0.00 0.00 + 0.84 0.86 0.62 0.64 0.10 0.13 + 0.01 0.02 unch 0.00 0.02 + 0.00 0.07 + 0.09 0.10 + 0.11 0.13 + 0.15 0.17 + 0.09 0.09 0.13 0.13 0.30 0.35 + 0.27 0.28 0.00 0.00 unch 0.10 0.10 + 0.13 0.14 unch 1.35 1.46 + 0.07 0.07 unch 0.05 0.06 unch 0.11 0.11 1.62 1.64 1.15 1.20 0.03 0.03 unch 0.14 0.14 unch 6.77 7.15 + 4.97 5.24 + 0.16 0.19 + 0.23 0.25 + 0.13 0.16 + 0.07 0.07 0.08 0.10 0.05 0.06 + 0.00 0.04 + 0.06 0.09 + 0.12 0.12 0.06 0.08 0.03 0.03 unch 0.02 0.02 + 0.42 0.45 + 0.58 0.62 + 0.70 0.70 0.36 0.40 + 0.00 0.19 unch 0.18 0.26 + 0.14 0.20 + 0.62 0.62 0.16 0.17 0.00 0.22 unch 0.32 0.34 + 0.39 0.53 + 0.63 0.64 0.86 0.87 0.87 0.91 12.31 12.65 + 5.42 6.02 + 7.45 8.18 + 0.01 0.01 + 0.03 0.03 unch 0.01 0.01 1.30 1.39 + 1.25 1.33 +

0.01 0.01 0.00 1.14 2.22 0.00 0.03 0.01 0.00 0.03 0.01 0.03 0.00 0.01 0.02 0.01 0.01 0.02 0.02 0.02 0.05 0.01 0.00 0.00 0.00 0.01 0.00 0.00 0.01 0.07 0.08 0.00 0.00 0.43 0.12 0.00 0.01 0.04 0.01 0.01 0.01 0.02 0.01 0.02 0.02 0.00 0.00 0.00 0.02 0.02 0.05 0.00 0.08 0.06 0.02 0.03 0.00 0.08 0.14 0.05 0.04 0.09 0.16 0.62 0.80 0.00 0.00 0.01 0.06 0.02

0.32 0.41 0.20 27.20 35.60 0.32 1.02 0.37 0.01 1.99 1.51 0.18 0.02 0.02 0.11 0.15 0.16 0.22 0.20 0.27 0.55 0.70 0.00 0.18 0.23 1.70 0.11 0.08 0.20 2.14 1.64 0.06 0.18 8.00 6.03 0.32 0.44 0.25 0.14 0.24 0.10 0.08 0.19 0.28 1.60 0.06 0.04 0.64 0.88 1.09 0.52 0.40 0.27 0.20 1.58 0.35 0.49 1.62 2.20 0.72 0.97 1.08 13.49 6.34 8.09 0.03 0.03 0.16 2.02 2.05

0.09 0.10 0.00 9.71 13.25 0.02 0.44 0.10 0.00 0.56 0.40 0.08 0.01 0.00 0.04 0.05 0.08 0.09 0.03 0.01 0.08 0.14 0.00 0.02 0.03 0.38 0.04 0.02 0.05 0.62 0.46 0.01 0.14 2.90 1.92 0.07 0.10 0.05 0.01 0.03 0.03 0.03 0.04 0.03 0.06 0.02 0.01 0.18 0.18 0.10 0.20 0.14 0.12 0.09 0.40 0.05 0.08 0.10 0.13 0.29 0.46 0.41 5.82 2.82 4.08 0.00 0.01 0.00 0.58 0.55

0.01 0.02 0.01 0.03 1.42 0.28 0.21 0.20 0.00 0.00 0.01 0.21 0.00 0.04 0.01 0.01 0.02 0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.02 0.02 0.10 0.14 0.01 0.01 0.00 0.02 0.01 0.06 0.01 0.00 0.01 0.00 3.30 0.01 0.00 0.04 0.03 0.00 0.01 0.00 0.13 0.15 0.00 0.02 0.02 0.01 0.00 0.00 0.04 0.19 0.04 0.00 0.10 0.08 0.01 0.01 0.00 0.01 0.00 0.00 0.00 0.00 0.01 0.01 0.03 0.03 0.01 0.00 0.01 0.09 0.10 0.04 0.03 0.00 0.00 0.01 0.00 0.02 0.00 0.06 0.06 0.02 0.00 0.03

0.30 0.36 0.16 0.21 20.61 2.50 1.60 1.29 0.14 0.05 0.06 0.80 0.63 0.96 0.74 0.50 0.49 0.05 2.12 1.55 0.10 0.15 0.13 0.09 0.06 0.08 0.19 0.14 1.62 2.16 0.06 0.12 0.09 0.13 0.17 2.63 1.44 0.20 0.13 0.06 281.82 0.12 50.00 0.28 0.36 0.18 0.08 0.05 7.33 5.72 0.32 0.43 0.75 0.09 0.13 4.54 1.73 2.50 0.18 0.65 2.84 2.14 0.10 0.45 3.43 0.21 0.16 0.08 0.15 0.00 0.12 0.09 0.19 0.12 0.21 0.15 0.33 1.25 0.88 0.29 0.17 0.01 0.01 0.04 0.03 0.08 0.03 8.69 0.45 0.35 0.01 0.99

0.04 0.07 0.03 0.04 5.33 0.20 0.19 0.02 0.03 0.02 0.04 0.41 0.63 0.50 0.22 0.07 0.10 0.02 0.46 0.38 0.04 0.06 0.03 0.02 0.02 0.02 0.04 0.03 0.52 0.71 0.02 0.05 0.03 0.02 0.03 1.00 0.03 0.13 0.05 0.05 135.08 0.03 0.51 0.08 0.12 0.10 0.02 0.00 3.10 2.51 0.09 0.13 0.06 0.02 0.03 0.05 0.65 0.82 0.04 0.39 0.76 0.53 0.01 0.14 1.28 0.05 0.03 0.02 0.03 0.00 0.05 0.03 0.05 0.05 0.06 0.03 0.01 0.06 0.01 0.04 0.08 0.01 0.00 0.01 0.00 0.02 0.01 3.96 0.10 0.07 0.01 0.11

L

M 0.11 0.13 + 0.15 0.17 + 0.07 0.08 0.09 0.10 18.72 20.22 + 1.06 1.30 + 1.26 1.29 0.90 0.94 0.00 0.05 unch 0.03 0.03 + 0.05 0.06 + 0.54 0.71 + 0.63 0.63 unch 0.90 0.94 + 0.36 0.38 0.34 0.36 + 0.47 0.49 + 0.04 0.04 unch 1.69 1.83 1.21 1.36 + 0.08 0.08 0.11 0.12 0.08 0.08 0.06 0.06 + 0.04 0.04 0.05 0.05 unch 0.14 0.16 + 0.10 0.12 + 1.35 1.51 + 1.88 2.03 + 0.03 0.03 0.10 0.11 0.08 0.09 + 0.03 0.04 + 0.04 0.06 + 1.79 1.86 + 1.35 1.36 + 0.00 0.17 unch 0.11 0.11 0.05 0.05 unch 202.81 210.19 0.00 0.12 + 0.00 2.50 unch 0.12 0.12 0.17 0.17 0.12 0.12 unch 0.03 0.04 + 0.01 0.01 unch 5.80 5.90 + 4.27 4.33 0.27 0.27 0.36 0.38 + 0.12 0.13 + 0.05 0.05 + 0.07 0.07 unch 0.00 0.07 unch 1.01 1.02 1.29 1.29 0.12 0.16 + 0.41 0.41 unch 1.36 1.48 + 1.00 1.08 + 0.06 0.07 + 0.35 0.41 1.72 1.77 unch 0.14 0.16 + 0.10 0.11 0.05 0.05 + 0.06 0.06 unch 0.00 0.00 + 0.08 0.09 + 0.06 0.07 + 0.11 0.13 + 0.07 0.10 + 0.15 0.15 + 0.11 0.12 0.03 0.03 0.88 0.95 0.65 0.70 0.27 0.29 + 0.10 0.11 + 0.00 0.01 unch 0.00 0.00 unch 0.02 0.02 0.01 0.01 + 0.03 0.05 + 0.02 0.02 unch 7.02 7.16 + 0.40 0.45 + 0.30 0.33 + 0.01 0.01 unch 0.37 0.40 +

22

J U LY 2 0 – AU GU ST 2 , 2 0 2 0

ST O C K (100s) Stock

Week Last

TA B L E S

12-month

Exc Volume

High

Low

Metalo Manuf Metalore Res Metals Creek* Metals Creek Metals X* Metron Capital Mexican Gold* Mexus Gold* MGX Minerals* MGX Minerals Mich Resources Midas Gold Midas Gold* 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 MineralRite* Mineworx Tech Mineworx Tech* Minfocus Expl Mining Global* Minnova Corp Minsud Res Minsud Res* Mirasol Res Mistango River Mkango Res ML Gold* ML Gold Corp Monarca Mnrls* Monarca Mnrls Monarch Gold Monarch Gold* Moneta Porcpn* Moneta Porcpn Monitor Vent* Monitor Vent Monterey Min Montero Mg&Ex Monument Mng Monument Mng* Morien Res* Morien Res Mosaic* Mount Gibson * Mountain Boy* Mountain Boy Mountain Prov Mountain Prov* MPV Explor Mundoro Cap Mundoro Cap* Murchison Min Musgrave Min*

C 30 V 11 O 736 V 6394 O 39 V 8 O 617 O 24856 O 235 C 399 C 196 T 2042 O 2627 V 210 C 630 O 150 V 69 O 132 V 534 O 1714 V 1882 V 782 O 535 T 264 O 135 O 1874 V 1630 O 66 C 614 O 123 V 578 O 238560 V 488 O 261 V 464 O 11580 V 76 V 33 O 35 V 2802 C 3343 V 32 O 34 V 646 O 54 V 173 T 4317 O 1328 O 594 T 3958 O 5 V 19 C 3829 V 6 V 609 O 117 O 25 V 75 N 20026 O 4 O 257 V 843 T 299 O 38 C 160 V 688 O 132 V 125 O 254

0.20 2.20 0.07 0.09 0.07 0.30 0.10 0.00 0.04 0.06 0.25 0.86 0.66 1.04 0.14 0.11 0.14 1.08 1.44 0.23 0.32 0.52 0.39 0.75 0.55 0.44 0.57 0.14 0.19 0.25 0.34 0.00 0.08 0.06 0.05 0.00 0.19 0.05 0.00 0.39 0.30 0.08 0.10 0.14 0.04 0.05 0.45 0.34 0.16 0.21 0.15 0.22 0.08 0.06 0.09 0.07 0.17 0.22 13.35 0.43 0.33 0.45 0.32 0.24 0.16 0.15 0.11 0.09 0.60

0.19 0.20 unch 1.95 2.20 + 0.04 0.06 + 0.06 0.08 + 0.00 0.07 + 0.00 0.30 unch 0.07 0.08 + 0.00 0.00 + 0.03 0.04 + 0.05 0.05 0.16 0.22 0.71 0.81 + 0.54 0.59 + 0.94 1.01 + 0.12 0.12 0.10 0.11 + 0.00 0.13 0.72 0.98 + 0.97 1.39 + 0.18 0.20 + 0.25 0.28 0.47 0.49 0.33 0.36 0.66 0.68 + 0.48 0.50 0.38 0.40 + 0.51 0.54 0.13 0.14 + 0.17 0.17 0.22 0.23 0.30 0.31 0.00 0.00 unch 0.08 0.08 0.05 0.06 + 0.05 0.05 + 0.00 0.00 + 0.14 0.16 0.05 0.05 unch 0.00 0.06 unch 0.36 0.37 unch 0.24 0.25 0.00 0.08 0.08 0.10 + 0.12 0.13 0.04 0.04 + 0.04 0.05 + 0.41 0.42 unch 0.30 0.31 + 0.13 0.14 0.18 0.19 + 0.00 0.15 + 0.00 0.20 0.06 0.08 + 0.06 0.06 unch 0.08 0.09 unch 0.06 0.07 + 0.16 0.16 0.20 0.21 + 11.51 12.30 0.43 0.43 unch 0.28 0.31 + 0.38 0.41 + 0.28 0.29 0.20 0.20 0.15 0.16 unch 0.14 0.15 + 0.09 0.11 + 0.07 0.09 + 0.41 0.42 +

NA Frac Sand* NACCO Ind* Namibia Crit Namibia Crit* Napier Vent Napier Vent* Natural Res Pt* Nautilus Mnrls* Navis Res Corp* Navy Res Neo Lithium Neometals* Network Expl* Network Expl Nevada Canyon* Nevada Copper Nevada Energy* Nevada Energy 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 Dimen Res New Dimen Res* New Egy Min* New Energy Met* New Energy Met New Gold New Gold* New Guinea Gld* New Jersey Mng* New Milln Iron* New Milln Iron New Oroperu New Pac Metals* New Pac Metals New Placer* New Placer New Stratus New Tech Min* New Tech Min New World Res* 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 Nicola Mg Inc Nicola Mg Inc* Nighthawk Gold* Nighthawk Gold Niobay Metals Niocan Inc Niocorp Dev Niocorp Dev* Nippon Dragon Nippon Dragon* NKWE Platinum* Noble Metal Noble Mineral Noble Mineral* Noka Res* Noram Vent Noram Vent* Noranda Alum* Noront Res* Noront Res Norra Metals Norseman Cap Norsemont Cap Norsemont Cap* Nortec Mnls Nortec Mnls* North Am Nickl* North Am Nickl North Arrow Mn*

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

0.03 25.23 0.24 0.18 0.07 0.05 12.47 0.01 1.47 0.25 0.68 0.13 0.24 0.33 0.10 0.22 0.09 0.12 0.13 0.18 0.12 0.17 0.07 0.10 0.05 0.07 0.06 0.08 0.05 0.05 0.03 0.01 0.05 0.04 1.99 1.48 0.00 0.29 0.03 0.06 2.30 4.29 5.83 0.46 0.65 0.05 0.02 0.04 1.33 0.06 0.07 87.09 64.54 0.38 0.00 0.24 0.31 8.30 6.20 0.06 2.01 1.50 0.04 0.08 0.11 0.33 0.49 0.09 0.07 0.02 0.10 0.08 1.89 2.57 0.61 0.19 0.84 0.63 0.05 0.03 0.11 0.01 0.08 0.06 1.05 0.13 0.08 0.01 0.12 0.16 0.04 0.08 2.36 1.75 0.02 0.03 0.07 0.10 0.00

Change

0.01 22.49 0.18 0.13 0.07 0.04 10.86 0.00 0.92 0.22 0.52 0.12 0.21 0.00 0.07 0.18 0.06 0.00 0.11 0.15 0.06 0.08 0.05 0.07 0.04 0.06 0.04 0.06 0.04 0.00 0.03 0.01 0.04 0.00 1.74 1.28 0.00 0.23 0.03 0.05 2.10 3.94 5.29 0.39 0.50 0.03 0.02 0.00 0.00 0.05 0.05 81.97 60.50 0.37 0.00 0.19 0.26 7.76 5.33 0.05 1.83 1.35 0.04 0.06 0.09 0.33 0.42 0.07 0.05 0.02 0.09 0.06 1.66 2.25 0.50 0.15 0.78 0.58 0.04 0.02 0.11 0.01 0.07 0.05 0.86 0.10 0.00 0.00 0.11 0.15 0.03 0.06 1.99 1.46 0.02 0.00 0.00 0.00 0.00

0.02 22.84 0.23 0.17 0.07 0.05 11.33 0.00 1.30 0.25 0.64 0.12 0.22 0.30 0.10 0.19 0.09 0.10 0.13 0.18 0.10 0.14 0.06 0.10 0.04 0.07 0.05 0.07 0.05 0.05 0.03 0.01 0.05 0.04 1.83 1.36 0.00 0.28 0.03 0.06 2.30 4.07 5.52 0.46 0.64 0.05 0.02 0.03 1.33 0.06 0.07 84.23 61.88 0.37 0.00 0.21 0.28 8.30 6.16 0.05 1.94 1.43 0.04 0.06 0.09 0.33 0.46 0.08 0.06 0.02 0.10 0.07 1.74 2.38 0.57 0.16 0.78 0.58 0.05 0.03 0.11 0.01 0.07 0.05 0.97 0.10 0.07 0.00 0.11 0.16 0.03 0.07 2.03 1.50 0.02 0.02 0.07 0.09 0.05

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

(100s) Stock

High

Low

0.00 0.25 0.01 0.02 0.01 0.00 0.01 0.00 0.00 0.01 0.03 0.03 0.04 0.02 0.03 0.00 0.02 0.26 0.39 0.00 0.02 0.01 0.01 0.02 0.00 0.00 0.01 0.00 0.01 0.00 0.02 0.00 0.01 0.01 0.01 0.00 0.02 0.00 0.00 0.00 0.02 0.01 0.02 0.01 0.01 0.01 0.00 0.02 0.01 0.02 0.01 0.02 0.01 0.00 0.00 0.01 0.01 0.01 0.55 0.00 0.03 0.04 0.03 0.02 0.00 0.02 0.02 0.02 0.10

0.35 2.60 0.07 0.09 0.17 0.42 0.14 0.03 0.20 0.25 0.50 0.91 0.68 1.04 0.35 0.15 0.22 1.29 1.70 0.23 0.32 0.55 0.43 0.99 0.73 0.44 0.58 0.16 0.21 0.43 0.53 0.00 0.24 0.18 0.05 0.00 0.21 0.15 0.06 0.72 0.35 0.16 0.33 0.60 0.06 0.08 0.45 0.34 0.16 0.22 0.16 0.22 0.12 0.17 0.09 0.09 0.50 0.65 25.71 0.57 0.33 0.45 1.44 0.86 0.18 0.21 0.14 0.18 0.60

0.07 0.89 0.02 0.03 0.03 0.06 0.01 0.00 0.02 0.04 0.08 0.24 0.16 0.46 0.10 0.04 0.03 0.38 0.61 0.06 0.07 0.22 0.16 0.20 0.14 0.10 0.13 0.07 0.05 0.07 0.10 0.00 0.07 0.05 0.02 0.00 0.05 0.01 0.04 0.29 0.02 0.05 0.06 0.08 0.01 0.02 0.11 0.07 0.04 0.06 0.08 0.12 0.02 0.01 0.04 0.02 0.06 0.08 6.50 0.40 0.09 0.14 0.25 0.17 0.06 0.09 0.00 0.04 0.32

0.00 0.59 0.04 0.03 0.00 0.01 1.07 0.00 0.38 0.03 0.10 0.00 0.01 0.03 0.02 0.02 0.04 0.02 0.01 0.02 0.04 0.06 0.02 0.04 0.00 0.00 0.02 0.01 0.01 0.01 0.00 0.00 0.02 0.01 0.03 0.03 0.00 0.04 0.02 0.01 0.11 0.07 0.07 0.15 0.05 0.02 0.01 0.01 0.97 0.01 0.03 1.89 0.92 0.00 0.00 0.02 0.03 0.72 0.31 0.00 0.14 0.08 0.00 0.01 0.01 0.00 0.05 0.00 0.00 0.00 0.01 0.00 0.09 0.01 0.03 0.01 0.05 0.02 0.01 0.01 0.00 0.01 0.00 0.01 0.17 0.01 0.02 0.00 0.00 0.01 0.00 0.01 0.05 0.04 0.00 0.01 0.01 0.00 0.00

0.03 66.40 0.31 0.24 0.29 0.28 35.58 0.03 1.33 0.25 0.92 0.15 0.40 0.48 0.25 0.38 0.11 0.16 0.30 0.39 0.12 0.17 0.08 0.17 0.11 0.15 0.11 0.15 0.15 0.06 0.04 0.01 0.23 0.32 2.07 1.56 0.13 0.29 0.06 0.09 2.30 5.60 7.17 0.45 0.65 0.25 0.03 0.05 1.33 0.10 0.08 96.45 69.13 0.45 0.04 0.24 0.31 14.33 10.98 0.07 2.31 1.78 0.10 0.09 0.12 0.33 0.66 0.15 0.10 0.04 0.14 0.11 2.01 3.65 0.61 0.28 0.94 0.72 0.05 0.04 0.11 0.01 0.14 0.10 1.97 0.21 0.14 0.02 0.20 0.28 0.05 0.13 2.36 1.75 0.05 0.03 0.29 0.35 0.06

0.00 21.01 0.08 0.06 0.04 0.04 8.50 0.00 0.92 0.10 0.38 0.08 0.06 0.08 0.03 0.13 0.02 0.04 0.08 0.12 0.01 0.01 0.03 0.07 0.02 0.03 0.02 0.03 0.02 0.02 0.02 0.01 0.00 0.02 0.55 0.39 0.00 0.12 0.03 0.04 0.35 1.61 2.21 0.19 0.20 0.03 0.01 0.01 0.22 0.03 0.03 44.00 33.00 0.25 0.00 0.05 0.07 3.94 2.57 0.03 0.76 0.50 0.02 0.01 0.03 0.16 0.24 0.02 0.02 0.01 0.04 0.04 0.26 0.97 0.20 0.10 0.50 0.36 0.01 0.01 0.08 0.01 0.03 0.02 0.26 0.05 0.04 0.00 0.08 0.12 0.02 0.04 0.25 0.20 0.01 0.00 0.02 0.06 0.02

North Arrow Mn North Bay Res * Northcliff Res Northern Light Northern Uran Northisle C&G Northisle C&G * Northstar Gold Northstar Gold* Northway Res Norvista Cap NorZinc NorZinc* Nouveau Monde Nouveau Monde* NovaGold Res NovaGold Res* Novo Res* Novo Res NQ Minerals Pl* NRG Metals* 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 NxGold Ltd* NxGold Ltd O.T. Mining* O3 Mining* O3 Mining OceanaGold OceanaGold* Oceanic Iron O Oceanus Res* Oceanus Res Olivut Res* Olivut Res Omineca Mining* Omineca Mining One World Lith* One World Lith Opawica Expl Opus One Res Orbite Tech* Orca Gold Orca Gold* Ord Mountain 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 Mng Ltd* Orla Mng Ltd 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 Osprey Gold Otso Gold Otso Gold* Outcrop Gold Outcrop Gold* OZ Minerals*

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

167 12637 12207 2022 0 339 65 220 5 725 370 1123 532 705 213 2963 17537 886 889 369 29 28 62 287 22 4 38 2652 456 33 310 1277 21 157 11256 49544 1 455 299 136 2779 2337 6970 8982 726 1378 13 217 18 41 257 7540 2 412 250 3705 28 369 1307 2050 11 219 191 661 3 559 90 5 1458 1346 3027 1114 85 679 1631 550 336 10 65 565 299 7 77 1833 2245 1676 255 843 80 9 876 282 1648 4707 2702 126 1126 3354 1687 1504 159 1844 629 2

0.07 0.00 0.04 0.03 0.00 0.09 0.06 0.44 0.30 0.08 0.14 0.09 0.07 0.20 0.15 13.60 10.01 3.09 4.16 0.12 0.25 0.30 0.19 0.14 0.35 0.25 0.04 0.12 0.48 0.36 0.30 0.38 0.22 0.07 2.58 1.91 0.02 0.39 0.01 0.00 0.15 0.11 33.54 45.45 0.27 0.40 0.41 0.58 0.10 2.04 2.80 3.43 2.40 0.18 0.27 0.38 0.04 0.04 0.55 0.75 0.11 0.15 0.10 0.09 0.00 0.45 0.33 0.20 0.23 0.17 0.15 0.24 0.10 0.12 1.03 0.76 0.09 0.05 0.08 0.22 0.20 0.22 3.06 4.15 0.73 0.54 2.47 0.06 0.37 0.31 0.26 0.19 1.43 10.93 14.79 0.31 0.43 4.07 0.07 0.07 0.05 0.37 0.27 8.31

0.06 0.00 0.03 0.03 0.00 0.06 0.04 0.37 0.30 0.08 0.11 0.08 0.05 0.19 0.14 11.33 8.35 2.75 3.73 0.08 0.00 0.00 0.00 0.12 0.00 0.14 0.03 0.10 0.38 0.29 0.25 0.33 0.18 0.05 1.97 1.35 0.02 0.30 0.01 0.00 0.13 0.09 30.56 41.50 0.20 0.26 0.36 0.47 0.03 1.80 2.40 2.98 2.17 0.16 0.17 0.22 0.02 0.03 0.47 0.61 0.09 0.10 0.10 0.07 0.00 0.42 0.31 0.20 0.20 0.14 0.10 0.20 0.08 0.10 0.82 0.57 0.08 0.05 0.08 0.16 0.17 0.22 2.80 3.78 0.55 0.41 2.29 0.06 0.35 0.29 0.22 0.17 1.18 10.06 13.63 0.28 0.38 3.73 0.06 0.06 0.04 0.33 0.24 0.00

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* Pan Am Silver* Pan Am Silver Pan Global Res Pancontinental* Pancontinental Panex Res* Pangolin Dia Panoro Mnrls Panoro Mnrls* PanTerra Gold* Pantheon Vent Para Resources Parallel Mng Parallel Mng * Paramount Gold* Paringa Res* Parlane Res Pasinex Res Pasofino Gold Patriot Gold* Peabody Enrgy* Pelangio Expl* Pelangio Expl Peloton Mnrls* Peloton Mnrls PepinNini Lith* Perseus Mng Pershimex Res Pershing Res* Peruvian Metal* Peruvian Metal Petra Diamonds* Philex Mng* Philippine Mtl Phoenix Global* Phoenix Gold Pike Mountain Pine Cliff En* Pine Cliff En Pinecrest Res * Pinecrest Res Pistol Bay Mng

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

0 8 2 230 2558 467 124 402 834 299 140 1 48 839 1963 167 61 59 20 194 1187 127 17759 3431 1621 141 446 500 284 441 211 1 55 390 162 16 1884 413 203 378 667 201 5866 197 340 109 149 903 560 366 5073 48 4666 5 5 155 14 72 40 446 554 24 963 13429

0.04 2.55 1.77 0.04 0.03 0.07 0.05 0.01 0.08 0.16 0.12 0.01 0.03 1.41 0.09 0.22 0.16 1.75 0.01 0.02 0.10 0.09 33.28 45.00 0.22 0.06 0.08 0.00 0.03 0.14 0.10 0.01 0.08 0.55 0.15 0.12 1.25 0.02 0.06 0.02 0.24 0.06 3.00 0.19 0.25 0.07 0.09 0.00 1.39 0.09 0.01 0.03 0.04 0.03 0.00 0.06 0.35 0.05 0.17 0.11 0.15 0.46 0.70 0.05

Exc Volume

(100s) Stock

Week

High Low

N-O 8867 99 401 523 23 26 101 294 53 15 1056 10 43 142 43 3637 95 178 1159 1260 1477 2333 221 22 41 1108 322 2868 295 180 90 6 10 4 8995 35851 190 958 18 371 87 688 503 195 2788 85 3 553 21 665 129 642 43119 106 6 1581 3297 8 329 160 2265 1975 1588 1010 8103 331 326 640 578 81 681 484 246 742 446 86 453 379 1217 75 0 170 1142 336 201 167 12 24 28 698 402 514 915 189 864 42 13 428 0

WWW.NORTHERNMINER.COM

/ THE NORTHERN MINER

Last

12-month Change

High Low

0.07 + 0.00 unch 0.03 + 0.03 unch 0.01 unch 0.09 + 0.06 + 0.41 + 0.30 + 0.08 unch 0.14 + 0.08 unch 0.06 + 0.20 + 0.14 12.00 8.82 2.94 + 3.98 + 0.12 + 0.23 0.30 0.17 0.12 0.35 + 0.25 + 0.03 + 0.12 + 0.45 + 0.34 + 0.28 + 0.37 + 0.18 0.07 + 2.04 + 1.35 0.02 unch 0.32 + 0.01 unch 0.00 + 0.13 unch 0.10 + 31.76 43.16 0.24 + 0.31 + 0.38 + 0.51 0.10 1.90 2.61 3.39 + 2.37 + 0.16 + 0.27 + 0.37 + 0.02 0.03 unch 0.51 + 0.68 + 0.10 + 0.12 0.10 0.08 + 0.00 unch 0.43 0.32 + 0.20 unch 0.20 + 0.15 + 0.12 + 0.23 + 0.09 + 0.11 unch 0.95 + 0.70 + 0.08 + 0.05 unch 0.08 + 0.21 + 0.18 + 0.22 unch 2.96 + 4.09 + 0.71 + 0.50 + 2.36 + 0.06 unch 0.37 0.29 + 0.23 0.18 1.27 10.57 + 14.38 + 0.28 0.39 3.86 + 0.07 + 0.06 0.05 + 0.36 0.26 8.31 +

0.01 0.00 0.01 0.00 0.00 0.02 0.01 0.01 0.00 0.00 0.03 0.00 0.01 0.01 0.00 0.36 0.41 0.21 0.23 0.03 0.00 0.01 0.01 0.01 0.05 0.12 0.01 0.02 0.06 0.05 0.02 0.02 0.01 0.01 0.05 0.10 0.00 0.01 0.00 0.00 0.00 0.01 0.80 1.48 0.02 0.05 0.05 0.03 0.01 0.01 0.11 0.36 0.20 0.02 0.10 0.17 0.01 0.00 0.01 0.06 0.01 0.01 0.01 0.01 0.00 0.01 0.00 0.00 0.01 0.01 0.02 0.03 0.01 0.00 0.12 0.08 0.01 0.00 0.03 0.05 0.01 0.00 0.15 0.32 0.17 0.07 0.11 0.00 0.01 0.11 0.01 0.00 0.03 0.62 0.83 0.02 0.04 0.05 0.01 0.01 0.00 0.01 0.00 0.64

0.08 0.00 0.08 0.07 0.01 0.09 0.06 0.55 0.38 0.14 0.16 0.12 0.09 0.27 0.21 18.00 12.85 3.09 4.16 0.12 0.36 1.20 0.28 0.20 0.35 0.25 0.25 0.12 0.48 0.36 0.30 0.38 0.22 0.18 2.58 1.91 0.20 0.39 0.02 0.01 0.15 0.11 55.25 72.84 0.27 0.40 0.41 0.70 0.10 2.29 3.40 4.17 3.08 0.19 0.20 0.38 0.12 0.10 0.55 0.75 0.13 0.16 0.12 0.09 0.16 0.48 0.36 0.25 0.23 0.17 0.18 0.24 0.11 0.14 1.03 0.76 0.15 0.14 0.21 0.27 0.20 0.25 3.06 4.15 0.73 0.54 3.52 0.13 0.39 0.31 0.40 0.30 1.43 13.43 17.47 0.48 0.62 4.24 0.12 0.11 0.08 0.42 0.31 8.31

0.03 0.00 0.02 0.02 0.01 0.01 0.01 0.19 0.22 0.05 0.04 0.02 0.01 0.13 0.09 6.40 4.65 1.00 1.41 0.05 0.04 0.24 0.06 0.04 0.10 0.08 0.02 0.05 0.07 0.05 0.11 0.15 0.06 0.03 0.50 0.35 0.00 0.07 0.01 0.00 0.03 0.02 23.85 34.80 0.05 0.07 0.02 0.10 0.02 0.64 1.06 1.16 0.81 0.04 0.03 0.04 0.02 0.03 0.03 0.05 0.02 0.03 0.05 0.01 0.00 0.20 0.15 0.06 0.09 0.06 0.04 0.03 0.03 0.04 0.22 0.14 0.02 0.03 0.04 0.13 0.05 0.02 1.00 1.22 0.20 0.05 1.60 0.03 0.10 0.09 0.11 0.09 0.33 4.65 6.35 0.17 0.24 1.67 0.02 0.02 0.02 0.08 0.06 3.48

0.04 0.04 unch 2.25 2.30 0.00 1.77 + 0.03 0.04 0.02 0.03 unch 0.06 0.07 + 0.00 0.04 + 0.00 0.00 + 0.06 0.08 + 0.14 0.14 + 0.09 0.10 0.01 0.01 unch 0.02 0.03 + 1.17 1.25 0.08 0.09 + 0.19 0.21 + 0.00 0.15 + 1.44 1.65 0.01 0.01 unch 0.01 0.01 + 0.09 0.09 unch 0.06 0.06 28.89 32.42 + 39.14 44.04 + 0.17 0.20 0.05 0.05 0.07 0.08 + 0.00 0.00 unch 0.03 0.03 + 0.12 0.14 + 0.08 0.10 + 0.01 0.01 unch 0.00 0.07 0.23 0.43 + 0.13 0.15 + 0.11 0.11 1.14 1.16 0.02 0.02 0.05 0.05 0.02 0.02 + 0.21 0.23 0.04 0.06 + 2.65 2.87 + + 0.15 0.17 0.21 0.24 + 0.06 0.06 + 0.08 0.09 + 0.00 0.00 unch 1.19 1.36 + 0.08 0.08 0.01 0.01 + 0.03 0.03 + 0.03 0.04 + 0.03 0.03 unch 0.00 0.03 unch 0.06 0.06 unch 0.00 0.35 + 0.01 0.05 + 0.17 0.17 unch 0.09 0.10 + 0.13 0.13 0.44 0.44 0.60 0.67 + 0.03 0.04 +

0.00 0.24 0.03 0.01 0.00 0.01 0.01 0.00 0.02 0.01 0.02 0.00 0.01 0.15 0.00 0.02 0.02 0.02 0.00 0.00 0.00 0.01 3.18 4.09 0.02 0.00 0.01 0.00 0.01 0.02 0.01 0.00 0.01 0.16 0.01 0.01 0.04 0.00 0.01 0.01 0.01 0.01 0.12 0.02 0.03 0.00 0.01 0.00 0.11 0.01 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.04 0.00 0.00 0.01 0.02 0.06 0.01

0.08 3.33 2.40 0.05 0.03 0.07 0.05 0.01 0.08 0.33 0.36 0.03 0.04 2.60 0.12 0.30 0.23 1.75 0.05 0.04 0.24 0.20 33.28 45.00 0.25 0.06 0.08 0.01 0.10 0.16 0.13 0.02 0.09 1.90 0.53 0.13 1.38 0.19 0.14 0.05 0.29 0.07 23.73 0.19 0.25 0.11 0.13 0.00 1.39 0.09 0.06 0.04 0.05 0.26 0.10 0.09 0.44 0.05 0.17 0.14 0.19 0.46 0.70 0.06

0.03 1.12 0.84 0.01 0.01 0.03 0.02 0.00 0.02 0.11 0.08 0.00 0.01 0.35 0.03 0.09 0.06 0.25 0.01 0.00 0.05 0.03 10.61 14.22 0.06 0.01 0.02 0.00 0.02 0.07 0.04 0.00 0.01 0.10 0.10 0.09 0.47 0.00 0.02 0.01 0.04 0.02 2.51 0.08 0.11 0.03 0.04 0.00 0.45 0.02 0.00 0.01 0.03 0.01 0.00 0.02 0.06 0.01 0.12 0.04 0.05 0.09 0.14 0.01

P-Q

Exc Volume

Week Low

0.00 0.03 + 0.31 0.36 + 0.00 93.00 + 0.13 0.14 0.04 0.04 + 0.04 0.06 + 0.24 0.25 + 0.18 0.18 0.00 0.04 + 0.03 0.05 1.91 1.96 + 1.41 1.44 + 0.03 0.04 + 0.11 0.15 + 0.08 0.12 + 0.41 0.43 + 0.52 0.60 + 0.00 0.00 0.00 0.00 0.12 0.13 + 0.05 0.09 + 0.02 0.03 + 0.03 0.04 + 0.03 0.03 0.04 0.05 + 0.22 0.23 0.30 0.31 0.07 0.07 + 0.16 0.18 0.22 0.23 2.21 2.50 + 0.00 0.00 8.28 8.45 + 11.21 11.51 + 0.21 0.29 + 0.06 0.07 unch 0.98 1.01 1.32 1.38 0.03 0.03 + 0.10 0.10 0.93 1.01 + 1.26 1.37 + 0.00 0.06 unch 0.20 0.25 + 0.00 8.50 0.00 0.10 + 0.05 0.05 unch 0.03 0.30 0.02 0.03 0.10 0.11 0.09 0.12 + 0.07 0.13 + 0.03 0.04 + 0.04 0.04 + 0.06 0.10 + 0.02 0.02 + 0.08 0.13 + 0.12 0.18 + 1.25 1.63 + 1.70 2.21 + 0.04 0.04 0.00 0.09 unch 0.20 0.23 0.29 0.32 unch 0.22 0.24 0.13 0.13 unch 0.09 0.09 0.10 0.12 + 0.15 0.17 + 0.24 0.27 unch 0.00 0.03 0.18 0.19 + 0.00 0.17 + 0.09 0.14 + 0.07 0.10 + 0.01 0.01 0.07 0.08 unch

Pistol Bay Mng* O 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 Potash Ridge T Power Group* O Power Group V Power Metals* O Power Metals V PowerOre V Precipitate Gl* O Precipitate Gl V Premier Gold M T Premium Expl* O Pretium Res* N Pretium Res T Primary Energy C Prime Meridian V Prime Mining* O Prime Mining V Prism Res V ProAm Expl V Probe Metals* O Probe Metals V Prog Planet V Project One C Promithian Gl * O Prophecy Pot C Prosper Gold V Prospero Silvr V Prospero Silvr* O Provenance Gld C Providence V Providence Gld* 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 Precious V QC Precious * O QMC Quantum Ml V QMC Quantum Ml* O QMX Gold* O QMX Gold V Quadro Res V Quantum Cobalt C Quartz Mtn Res V Quartz Mtn Res* O Quaterra Res V Quaterra Res* O Quest Rare Mnl* O Quinto Res V

163 565 11 274 293 149 183 240 14 3893 161 935 795 4532 198 36076 221 45156 1 1503 124 273 3114 61 167 1263 1053 552 1247 1456 4219 47 11720 3697 3473 611 144 2710 144 62 378 998 14 562 3 40 853 276 250 49 923 57 2773 3 9623 122 6282 4158 4766 10765 1030 0 249 1013 205 479 342 476 4786 1526 239 85 10 1032 2945 692 374

0.04 0.38 94.00 0.16 0.04 0.06 0.27 0.20 0.04 0.05 2.03 1.50 0.05 0.17 0.12 0.51 0.69 0.00 0.00 0.14 0.09 0.03 0.04 0.04 0.05 0.26 0.33 0.07 0.22 0.26 2.50 0.00 8.92 12.10 0.29 0.10 1.22 1.66 0.04 0.12 1.09 1.46 0.06 0.25 9.25 0.10 0.06 0.30 0.03 0.12 0.12 0.13 0.04 0.04 0.13 0.03 0.14 0.18 1.70 2.31 0.04 0.00 0.25 0.38 0.27 0.14 0.11 0.14 0.20 0.27 0.04 0.23 0.17 0.15 0.11 0.03 0.08

Rackla Metals Rackla Metals* Radisson Mng Radius Gold Rae-Wallace Mg* Rain City Raindrop Vent Rainforest Res* Rainy Mtn Royl Rare Element* Rathdowney Res Red Eagle Mng* Red Moon Res Red Pine Expl Redstar Gold Redstar Gold* Regis Res NL* Regulus Res Remington Res Renaissance Gd* Renaissance Gd Renforth Res* Renforth Res Resolve Vent Resource Cap* Reunion Gold* Reunion Gold Revelo Res Revival Gold * Revival Gold Reyna Silver* Rhyolite Res Richmond Mnls* Richmond Mnls Ridgestone M’g Ridgestone M’g* Riley Resource 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 Res Rockridge Res Rockshield Cap* 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 Gold* Royal Gold* Royal Mines &M* Royal Rd Mnrls Royal Std Mnrl* RT Minerals RT Minerals* RTG Mining* RTG Mining Rugby Mng Running Fox Rs* Running Fox Rs Rupert Res* Rupert Res Rusoro Mng* Rusoro Mng

41 6 2329 335 89 363 377 50 367 398 53 41 16 2802 7210 1202 26 431 41 615 661 150 3431 229 24 309 1224 619 374 607 797 85 207 343 142 34 25 7007 759 80 1 10745 0 2217 3288 42 55 497 927 6 515 696 72 69 2 24 500 171 44 885 1634 11 328 18 122 307 2 1035 3771 696 263 2314 374 247 340 3908 612 58 38 2717 246 1640 0 430 16 20 721 2803 46 110 43 927 116 1459

0.19 0.11 0.34 0.36 0.10 0.08 0.35 1.60 0.16 0.92 0.07 0.00 0.06 0.06 0.06 0.04 3.95 1.00 0.14 0.44 0.59 0.04 0.05 0.09 0.00 0.07 0.09 0.14 0.98 1.33 0.65 0.26 0.05 0.06 0.22 0.14 0.18 0.00 0.06 0.05 58.15 59.05 0.00 0.68 0.87 0.98 0.75 0.36 0.27 0.15 0.20 0.39 0.05 0.04 0.44 0.60 0.09 0.06 0.02 0.19 0.15 0.04 0.06 0.06 0.07 1.00 0.15 0.21 0.08 0.06 0.39 0.54 0.23 0.15 0.05 1.62 1.21 0.54 0.36 128.29 0.00 0.39 0.50 0.08 0.05 0.08 0.15 0.18 0.02 0.02 2.95 3.77 0.04 0.05

Last

12-month

High

Change

High Low

0.00 0.01 2.98 0.01 0.01 0.02 0.01 0.02 0.01 0.01 0.01 0.02 0.01 0.02 0.07 0.02 0.08 0.00 0.00 0.01 0.04 0.01 0.01 0.00 0.01 0.01 0.01 0.01 0.01 0.02 0.30 0.00 0.28 0.46 0.04 0.00 0.05 0.17 0.02 0.02 0.09 0.11 0.00 0.05 1.04 0.05 0.00 0.01 0.26 0.01 0.03 0.05 0.00 0.00 0.04 0.00 0.05 0.07 0.38 0.51 0.01 0.00 0.02 0.00 0.00 0.00 0.00 0.02 0.02 0.00 0.01 0.03 0.07 0.04 0.03 0.01 0.00

0.05 0.64 94.50 0.19 0.06 0.16 0.74 0.65 0.04 0.06 3.86 2.98 0.05 0.17 0.11 0.97 1.30 0.00 0.00 0.14 0.09 0.05 0.07 0.09 0.12 0.40 0.54 0.12 0.29 0.28 2.55 0.00 13.83 18.30 0.82 0.16 1.22 1.66 0.05 0.15 1.16 1.53 0.14 0.25 9.78 0.19 0.12 1.10 0.80 0.20 0.18 0.13 0.30 0.20 0.20 0.30 0.14 0.18 1.70 2.31 0.08 0.21 0.30 0.39 0.29 0.21 0.15 0.14 0.20 0.28 0.06 0.24 0.18 0.15 0.11 0.06 0.08

0.00 0.11 43.41 0.01 0.01 0.02 0.16 0.08 0.01 0.01 1.25 0.86 0.02 0.02 0.01 0.15 0.25 0.00 0.00 0.02 0.02 0.01 0.02 0.02 0.03 0.03 0.04 0.03 0.04 0.05 0.85 0.00 4.05 6.25 0.17 0.04 0.14 0.25 0.01 0.05 0.37 0.54 0.02 0.12 0.02 0.01 0.03 0.10 0.08 0.08 0.06 0.02 0.02 0.03 0.04 0.01 0.02 0.03 0.27 0.38 0.03 0.09 0.14 0.14 0.10 0.06 0.03 0.03 0.04 0.02 0.01 0.05 0.04 0.02 0.02 0.00 0.02

0.00 0.01 0.02 0.01 0.00 0.01 0.00 0.29 0.01 0.03 0.00 0.00 0.01 0.01 0.01 0.00 0.11 0.06 0.05 0.04 0.08 0.00 0.02 0.01 0.00 0.00 0.01 0.03 0.09 0.01 0.05 0.01 0.00 0.00 0.02 0.01 0.00 0.00 0.01 0.00 2.34 2.61 0.00 0.03 0.04 0.03 0.01 0.03 0.02 0.00 0.02 0.02 0.00 0.01 0.06 0.00 0.01 0.00 0.00 0.01 0.02 0.02 0.02 0.01 0.00 0.07 0.01 0.03 0.02 0.02 0.03 0.02 0.05 0.00 0.01 0.01 0.02 0.10 0.03 6.58 0.00 0.12 0.00 0.02 0.02 0.00 0.02 0.08 0.01 0.00 0.16 0.25 0.01 0.00

0.19 0.12 0.34 0.38 0.90 0.15 0.35 7.60 0.25 1.25 0.11 0.03 0.24 0.07 0.06 0.04 4.61 1.78 0.16 0.44 0.59 0.04 0.06 0.16 0.00 0.25 0.34 0.20 0.98 1.33 0.65 0.26 0.05 0.07 0.30 0.25 0.20 0.00 0.06 0.05 60.98 61.75 71.08 0.68 0.87 0.99 0.83 0.39 0.28 0.24 0.32 0.39 0.08 0.06 0.64 0.85 0.12 0.08 0.05 0.19 0.23 0.06 0.06 0.10 0.13 1.00 0.21 0.34 0.08 0.06 0.39 0.54 0.23 0.40 0.05 1.62 1.21 0.60 0.43 139.63 0.01 0.39 1.24 0.08 0.05 0.08 0.17 0.23 0.02 0.03 8.70 3.77 0.06 0.09

0.08 0.00 0.09 0.11 0.00 0.04 0.07 0.22 0.04 0.22 0.05 0.00 0.03 0.02 0.02 0.01 1.80 0.47 0.07 0.10 0.14 0.02 0.03 0.05 0.00 0.04 0.05 0.05 0.24 0.33 0.44 0.04 0.02 0.02 0.17 0.13 0.11 0.00 0.01 0.02 34.85 35.35 41.50 0.11 0.14 0.30 0.31 0.10 0.06 0.06 0.08 0.06 0.03 0.02 0.35 0.37 0.04 0.03 0.01 0.06 0.07 0.01 0.02 0.03 0.02 0.22 0.03 0.04 0.02 0.01 0.05 0.10 0.06 0.00 0.03 0.56 0.05 0.12 0.11 59.78 0.00 0.13 0.02 0.02 0.01 0.05 0.04 0.05 0.01 0.01 0.43 0.53 0.03 0.04

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

0.14 0.10 0.28 0.31 0.04 0.07 0.27 0.94 0.11 0.81 0.07 0.00 0.06 0.05 0.05 0.03 3.80 0.85 0.09 0.33 0.47 0.03 0.04 0.08 0.00 0.06 0.00 0.11 0.81 1.09 0.50 0.24 0.03 0.05 0.17 0.13 0.18 0.00 0.05 0.04 0.00 56.24 0.00 0.57 0.76 0.00 0.68 0.31 0.23 0.13 0.16 0.32 0.05 0.02 0.40 0.00 0.07 0.06 0.02 0.16 0.12 0.02 0.04 0.04 0.06 0.22 0.14 0.18 0.05 0.03 0.33 0.44 0.18 0.03 0.04 1.50 1.10 0.00 0.33 121.21 0.00 0.26 0.50 0.06 0.00 0.08 0.13 0.10 0.01 0.02 2.30 3.15 0.03 0.05

0.15 0.11 0.33 0.35 0.04 0.07 0.35 0.99 0.13 0.85 0.07 0.00 0.06 0.05 0.05 0.04 3.85 0.91 0.14 0.42 0.56 0.03 0.05 0.08 0.00 0.07 0.08 0.13 0.86 1.17 0.59 0.24 0.03 0.05 0.20 0.14 0.18 0.00 0.06 0.04 57.54 58.90 65.37 0.57 0.77 0.96 0.71 0.33 0.24 0.13 0.20 0.37 0.05 0.03 0.40 0.60 0.07 0.06 0.02 0.19 0.14 0.04 0.05 0.06 0.07 0.24 0.14 0.20 0.07 0.05 0.35 0.49 0.22 0.03 0.04 1.54 1.14 0.54 0.36 127.63 0.00 0.37 0.50 0.08 0.05 0.08 0.15 0.17 0.02 0.02 2.39 3.33 0.04 0.05

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

(100s) Stock

Exc Volume

Week High

Low

Last

12-month Change

High Low

S Sabina Gd&Slvr Sabina Gd&Slvr* Sable Res* Sable Res Sailfish Rylty Saint Jean* Salazar Res* Salazar Res Salt Lake Pot* Sama Res Sama Res* San Gold Corp* San Marco Res* San Marco Res Sanatana Res Sanatana Res* Sandfire Res Sandfire Res* Sandspring Res* Sandstorm Gold Sandstorm Gold* Santa Fe Gold* Santacruz Silv Sarama Res Sarissa Res* Satori Res Satori Res* Saturn Mnrls Saville Res Scandium Intl Scandium Intl* Scorpio Gold * Scorpio Gold Scotch Creek Scottie Res* Scottie Res ScoZinc Mg* ScoZinc Mg Seabridge Gld Seabridge Gld* Search Mnls Search Mnls* Searchlight* SearchlightMin* SearchlightRes Sego Res Select Sands Sentinel Res Serabi Gold Serabi Gold* Serengeti Res Sherritt Intl Shine Minerals* Shine Minerals 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 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 Scott* Silver Spruce* Silver Spruce Silver Stream* Silver Viper* Silver Viper 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 Sokoman Min Sokoman Min* SolGold plc SolGold plc* Solitario Ex&R Solitario Ex&R* Solstice Gold Sonora Gld & S Sonoro Metals* Sonoro Metals South32* Southern Arc* Southern Arc Southern Copp* Southern Emp Southern Silvr Southern Silvr* Southstone Min* Southstone Min Spanish Mtn Gd Spanish Mtn Gd* Sparton Res Sparton Res* Spearmint Res* Spearmint Res Sphinx Res Sprott Res Hld Spruce Ridge R SRG Mining SSR Mining* SSR Mining St Augustine St-Georges Eco St-Georges Eco* Stakeholdr Gld Stakeholdr Gld* Standard Graph* Standard Lith Standard Metal* Standard Uran Stans Energy* Star Diamond* Star Diamond Star Gold* Starcore Intl* Starcore Intl Starr Peak Exp* Starr Peak Exp Steele Oceanic* Stellar Africa Stellar Africa* Stelmine Can Steppe Gold Stevens Gold Stornoway Diam* Straightup Res Stratabd Mnr Strateco Res* Strategic Metl Strategic Metl* Strategic Res Strategic Res* Stria Lithium Strikepoint Gd Strikepoint Gd* Strongbow Expl

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

2916 1672 24 1195 277 3 58 394 24 468 97 998 49 726 416 77 64 199 216 3177 9242 1081 1166 1211 1224 348 100 131 114 141 24 128 451 50 644 2350 0 2 511 2558 96 152 132 133 270 1446 408 255 27 100 1460 2227 12 14 14809 1580 1527 50 11 148 1306 18 25 661 183 3266 8421 3206 626 1944 1409 4 344 9 5524 3998 84 21 50 68 166 2329 6 188 1490 0 207 865 3938 9678 4206 1885 26 0 81 510 1028 541 292 182 4783 1999 613 18 3879 521 586 70 9595 1742 484 435 622 80 771 1912 243 87 229 11 24 93 4819 184 4255 1174 48 18 11024 3998 1770 41 2904 16170 3362 51 2165 203 9412 2305 35298 4395 31 573 83 1722 836 25 688 134 52 1308 1 37 784 9 176 0 807 12 117 1954 32 862 79 2152 30 594 264 29 0 163 15102 2330 1552

1.99 1.51 0.07 0.10 1.16 0.01 0.24 0.32 0.40 0.19 0.12 0.01 0.26 0.37 0.18 0.14 0.23 0.19 3.01 13.66 10.08 0.08 0.20 0.14 0.00 0.08 0.04 0.12 0.03 0.13 0.10 0.09 0.12 0.08 0.34 0.45 0.00 0.00 25.53 18.84 0.04 0.03 0.07 0.05 0.09 0.06 0.02 0.20 1.44 1.15 0.26 0.14 0.04 0.05 10.16 0.08 0.07 0.05 0.05 1.85 1.37 1.99 0.04 0.06 0.14 0.21 0.09 0.12 0.68 0.33 0.25 0.00 0.25 0.30 0.58 0.44 0.25 0.07 0.11 0.12 0.14 0.30 0.17 0.04 0.05 0.00 0.43 0.62 8.34 6.18 9.74 13.17 0.06 0.00 0.14 0.20 0.24 0.18 0.06 0.05 2.68 1.99 0.33 0.12 0.17 0.14 0.18 0.06 0.10 0.18 0.14 0.43 0.29 0.45 0.34 0.10 0.04 0.12 0.18 1.50 0.31 0.43 41.69 1.45 0.29 0.22 0.06 0.08 0.21 0.15 0.06 0.04 0.03 0.05 0.03 0.33 0.09 0.76 23.30 31.50 0.15 0.12 0.06 0.08 0.06 0.11 1.19 0.07 0.21 0.01 0.21 0.27 0.05 0.21 0.30 0.83 1.12 0.00 0.06 0.04 0.08 2.95 0.30 0.00 0.30 0.28 0.00 0.72 0.53 0.28 0.00 0.02 0.18 0.14 0.11

1.80 1.31 0.00 0.09 1.02 0.01 0.20 0.26 0.37 0.16 0.11 0.00 0.23 0.32 0.12 0.11 0.00 0.15 2.62 12.74 9.40 0.06 0.16 0.11 0.00 0.07 0.04 0.00 0.03 0.12 0.08 0.06 0.10 0.08 0.26 0.36 0.00 0.00 23.83 17.56 0.00 0.03 0.06 0.03 0.07 0.00 0.02 0.15 1.25 0.93 0.23 0.12 0.04 0.04 9.07 0.06 0.06 0.04 0.00 1.61 1.18 1.75 0.03 0.05 0.09 0.12 0.07 0.10 0.59 0.30 0.22 0.00 0.20 0.03 0.48 0.35 0.19 0.07 0.10 0.10 0.13 0.21 0.12 0.03 0.04 0.00 0.29 0.39 6.90 5.09 8.78 11.93 0.04 0.00 0.12 0.18 0.21 0.16 0.04 0.03 2.16 1.59 0.28 0.00 0.11 0.12 0.17 0.02 0.04 0.15 0.11 0.35 0.25 0.43 0.30 0.07 0.03 0.10 0.13 1.42 0.30 0.40 39.53 1.17 0.22 0.16 0.06 0.06 0.16 0.11 0.05 0.03 0.01 0.03 0.02 0.27 0.06 0.67 20.34 27.54 0.03 0.06 0.03 0.04 0.02 0.08 1.00 0.07 0.19 0.00 0.18 0.25 0.00 0.17 0.20 0.76 1.01 0.00 0.05 0.00 0.07 1.95 0.28 0.00 0.26 0.09 0.00 0.63 0.47 0.25 0.00 0.02 0.09 0.06 0.00

+ 1.96 + 1.43 0.07 unch 0.09 + 1.12 0.01 + 0.20 0.28 + 0.39 0.18 + 0.12 0.01 + 0.25 0.34 + 0.16 + 0.13 0.23 0.17 2.86 + 13.20 + 9.72 0.07 unch + 0.20 0.12 + 0.00 0.08 unch 0.04 unch 0.12 + 0.03 + 0.13 + 0.10 + 0.09 + 0.11 0.08 unch 0.31 0.41 0.30 unch 0.50 unch + 25.27 + 18.57 0.04 unch + 0.03 + 0.06 + 0.04 0.08 unch 0.05 0.02 unch + 0.16 1.39 0.93 + 0.26 + 0.14 0.04 unch 0.04 + 9.61 0.07 0.07 unch + 0.05 0.05 + 1.75 1.25 + 1.99 0.04 unch 0.05 unch + 0.14 + 0.19 + 0.08 + 0.11 0.59 0.31 0.22 0.00 unch 0.22 0.30 + 0.56 + 0.41 0.19 + 0.07 0.10 0.11 0.14 + 0.29 0.17 + 0.04 0.05 unch 8.00 unch + 0.37 + 0.50 + 8.01 + 5.90 9.06 unch + 12.33 0.04 0.06 unch + 0.14 0.18 unch + 0.22 0.16 unch 0.05 unch + 0.05 + 2.62 + 1.93 0.31 + 0.12 + 0.17 0.13 0.17 unch + 0.05 + 0.07 0.16 0.11 + 0.43 + 0.29 0.43 0.32 + 0.09 0.03 + 0.12 + 0.18 + 1.42 + 0.31 + 0.43 + 41.66 1.19 + 0.24 0.18 0.06 unch + 0.08 + 0.19 + 0.14 0.05 0.03 + 0.03 + 0.05 0.03 unch + 0.33 0.06 0.70 + 22.47 + 30.54 + 0.07 + 0.10 + 0.04 + 0.05 + 0.06 0.09 + 1.19 0.07 unch 0.20 unch 0.00 0.18 0.25 0.05 unch + 0.17 0.23 + 0.83 1.01 0.51 unch 0.05 unch 0.03 0.07 unch + 2.71 0.30 unch 0.00 0.27 + 0.15 0.00 unch 0.66 + 0.50 + 0.28 0.14 unch 0.02 unch + 0.14 + 0.10 + 0.11

0.05 0.00 0.00 0.01 0.01 0.00 0.03 0.03 0.02 0.01 0.00 0.00 0.02 0.03 0.04 0.05 0.02 0.02 0.05 0.37 0.22 0.00 0.05 0.02 0.00 0.00 0.00 0.01 0.01 0.01 0.00 0.02 0.01 0.00 0.02 0.02 0.00 0.00 1.56 1.07 0.00 0.00 0.00 0.01 0.00 0.01 0.00 0.01 0.01 0.23 0.02 0.01 0.00 0.01 0.85 0.01 0.00 0.01 0.02 0.06 0.02 0.24 0.00 0.00 0.05 0.06 0.01 0.02 0.06 0.01 0.00 0.00 0.02 0.08 0.08 0.04 0.01 0.00 0.01 0.01 0.03 0.10 0.00 0.00 0.00 0.00 0.08 0.11 0.95 0.70 0.00 0.11 0.02 0.00 0.02 0.00 0.01 0.00 0.00 0.01 0.63 0.50 0.03 0.07 0.05 0.00 0.00 0.02 0.03 0.02 0.02 0.08 0.03 0.01 0.00 0.02 0.01 0.02 0.03 0.06 0.02 0.03 2.75 0.16 0.02 0.00 0.00 0.01 0.04 0.04 0.01 0.02 0.01 0.02 0.00 0.02 0.02 0.01 1.88 2.44 0.05 0.03 0.01 0.01 0.04 0.02 0.13 0.00 0.00 0.00 0.01 0.02 0.00 0.08 0.01 0.09 0.09 0.00 0.00 0.01 0.00 0.71 0.00 0.00 0.03 0.07 0.00 0.03 0.06 0.03 0.00 0.00 0.05 0.03 0.02

2.28 1.72 0.11 0.15 1.81 0.03 0.24 0.32 0.59 0.29 0.22 0.02 0.26 0.38 0.55 0.41 0.40 0.31 3.29 13.66 10.08 0.10 0.20 0.17 0.00 0.08 0.06 0.17 0.06 0.20 0.15 0.10 0.13 0.12 0.34 0.48 0.59 0.90 25.33 18.84 0.06 0.04 0.10 0.06 0.09 0.07 0.06 0.20 1.74 1.25 0.36 0.37 0.05 0.08 11.85 0.08 0.10 0.08 0.10 3.67 2.75 2.08 0.07 0.09 0.18 0.25 0.12 0.16 0.71 0.55 0.43 0.00 0.25 0.53 0.58 0.44 0.25 0.12 0.17 0.12 0.16 0.30 0.30 0.05 0.07 8.00 2.21 0.62 8.34 6.18 9.74 13.17 0.14 0.14 0.17 0.25 0.26 0.18 0.08 0.05 2.68 1.99 0.40 0.71 0.70 0.27 0.35 0.04 0.10 0.19 0.14 0.59 0.41 0.63 0.49 0.23 0.06 0.14 0.19 2.27 0.33 0.49 44.82 1.45 0.31 0.23 0.17 0.20 0.21 0.15 0.07 0.05 0.04 0.05 0.04 1.25 0.10 1.10 23.30 31.50 0.15 0.14 0.10 0.08 0.06 0.34 1.54 0.08 0.30 0.08 0.41 0.53 0.09 0.25 0.30 0.83 1.12 1.00 0.07 0.04 0.15 2.66 0.30 0.03 0.30 0.28 0.01 0.72 0.53 0.65 0.39 0.02 0.18 0.14 0.15

0.71 0.51 0.03 0.04 0.45 0.00 0.08 0.12 0.18 0.12 0.08 0.00 0.06 0.09 0.08 0.03 0.14 0.11 0.58 4.64 3.32 0.03 0.07 0.03 0.00 0.01 0.02 0.07 0.02 0.06 0.03 0.03 0.05 0.06 0.07 0.11 0.19 0.28 7.37 5.25 0.03 0.02 0.00 0.01 0.02 0.03 0.01 0.10 0.75 0.62 0.15 0.07 0.01 0.01 3.50 0.00 0.03 0.02 0.02 0.89 0.45 1.30 0.02 0.02 0.05 0.05 0.02 0.03 0.22 0.10 0.06 0.00 0.03 0.08 0.15 0.11 0.10 0.05 0.04 0.05 0.07 0.10 0.01 0.01 0.02 8.00 0.00 0.18 2.12 1.50 3.28 4.50 0.00 0.00 0.07 0.08 0.05 0.03 0.03 0.02 0.35 0.26 0.16 0.04 0.05 0.06 0.08 0.00 0.01 0.04 0.04 0.19 0.13 0.22 0.13 0.02 0.02 0.06 0.07 0.89 0.17 0.24 23.43 0.40 0.06 0.05 0.03 0.04 0.05 0.03 0.02 0.01 0.01 0.01 0.01 0.19 0.03 0.22 9.00 12.12 0.01 0.03 0.02 0.02 0.01 0.05 0.39 0.02 0.15 0.00 0.14 0.18 0.02 0.00 0.05 0.25 0.25 0.20 0.02 0.01 0.04 0.63 0.25 0.00 0.10 0.02 0.00 0.25 0.18 0.18 0.14 0.01 0.02 0.01 0.03

GLOBAL MINING NEWS

(100s) Stock

Week

Exc Volume

High

Low

0.00 0.06 0.39 0.42 0.30 0.31 0.38 0.45 0.07 0.09 1.01 1.31 0.17 0.20 15.65 16.14 21.26 21.95 0.76 0.79 1.03 1.07 0.28 0.30 0.18 0.30 0.26 0.39 0.09 0.09 0.10 0.12 0.08 0.10 0.00 0.01 0.19 0.23

Strongbow Expl* Stroud Res Stuhini Explor* Stuhini Explor Sulliden Mng Summa Silver Sun Metals Suncor Energy* Suncor Energy Superior Gold* Superior Gold Superior Mng Supreme Metal* Supreme Metals Surge Copper * Surge Copper Surge Explor Sutter Gold* Syrah Res*

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

103 105 38 161 1366 159 2052 21893 19493 306 2700 223 5 184 179 1151 126 938 392

0.07 0.43 0.32 0.45 0.10 1.60 0.21 17.41 23.56 0.85 1.15 0.30 0.30 0.48 0.12 0.16 0.10 0.01 0.27

Taiga Gold Taiga Gold* Tajiri Res Taku Gold* Taku Gold Talisker Res* Talisker Res Talmora Diamd Talon Metals Tamerlane Vent* Tamino Mnrls* Tanqueray Expl Tantalex Res Tanzanian Gold Tanzanian 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 Tembo Gold Tembo Gold* Teranga Gold Teranga Gold* Teras Res Teras Res* Terrax Mnrls Terrax Mnrls* Terreno Res Teslin Rvr Res Tesoro Mnrls Tethyan Res Teuton Res Teuton Res* Texas Mineral* Themac Res* Themac Res Thor Expl Thunder Mtn Gd* Thunderstruck Thunderstruck* Till Capital Timberline Res Timberline Res* Tinka Res Tinka Res* Tintina Mines Tisdale Res Titan Mining Titanium Corp

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

1032 361 4055 10 362 91 2351 635 657 6 642 2808 895 485 4242 530 75 20 139 51 324 2561 886 8 9343 6 16647 352 42 163 11 38 3506 18 2208 109 379 125 1227 61 1675 2208 95 2348 1321 665 1697 7 22 622 930 443 193 5 1353 2194 2744 1152 26 42 321 80

0.24 0.18 0.10 0.05 0.07 0.39 0.53 0.03 0.16 0.00 0.00 1.55 0.01 1.49 1.09 0.57 0.08 0.06 0.09 0.09 0.12 0.55 0.74 0.12 14.97 16.90 11.05 0.32 0.24 0.14 0.10 0.26 0.08 0.05 13.81 10.42 0.09 0.05 0.34 0.25 0.06 0.11 0.06 0.31 3.29 2.50 1.79 0.05 0.06 0.20 0.34 0.12 0.09 2.40 0.19 0.14 0.22 0.17 0.05 0.07 0.21 0.35

23

THE NORTHERN MINER / J U LY 2 0 – AU GU ST 2 , 2 0 2 0

Last

High Low

Stock

+ + + + + + + + + + + + +

0.00 0.08 0.01 0.02 0.02 0.06 0.03 0.60 0.75 0.12 0.12 0.02 0.12 0.14 0.03 0.04 0.02 0.00 0.04

0.09 0.50 0.32 0.50 0.10 1.60 0.62 34.56 45.12 0.85 1.15 0.40 0.30 0.48 0.12 0.21 0.95 0.01 0.76

0.01 0.05 0.30 0.12 0.03 0.09 0.06 9.61 14.02 0.26 0.33 0.05 0.18 0.10 0.03 0.02 0.05 0.00 0.09

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

0.04 0.04 0.00 0.00 0.01 0.02 0.04 0.00 0.01 0.00 0.00 0.08 0.00 0.08 0.03 0.02 0.00 0.00 0.00 0.01 0.01 0.05 0.06 0.00 0.90 0.16 0.58 0.00 0.01 0.02 0.02 0.00 0.01 0.00 0.97 0.64 0.03 0.00 0.04 0.00 0.00 0.02 0.00 0.08 0.63 0.55 0.31 0.01 0.00 0.02 0.14 0.01 0.01 0.36 0.08 0.06 0.02 0.02 0.02 0.01 0.03 0.05

0.31 0.22 0.10 0.08 0.10 0.47 0.65 0.05 0.25 0.00 0.01 2.06 0.05 1.53 1.13 0.57 0.10 0.08 0.23 0.10 0.12 0.62 0.80 0.20 30.41 30.30 23.13 0.33 0.25 0.34 0.26 0.36 0.08 0.06 13.81 10.42 0.09 0.05 0.42 0.32 0.06 0.51 0.07 0.48 3.45 2.60 2.65 0.07 0.08 0.20 0.34 0.12 0.09 2.54 0.19 0.12 0.24 0.19 0.07 0.17 0.58 0.81

0.07 0.05 0.03 0.01 0.03 0.09 0.13 0.01 0.08 0.00 0.00 0.45 0.01 0.55 0.36 0.04 0.04 0.03 0.04 0.02 0.03 0.20 0.28 0.07 8.15 9.00 5.60 0.10 0.11 0.04 0.04 0.25 0.01 0.01 3.86 2.84 0.02 0.02 0.16 0.11 0.01 0.09 0.03 0.06 0.22 0.17 0.22 0.02 0.03 0.12 0.06 0.03 0.02 1.00 0.06 0.02 0.07 0.05 0.02 0.04 0.14 0.24

TMAC Resource* TMAC Resources TNR Gold Tocvan Venture Tombstone Expl* Tonogold Res* Tonopah Div Mg* Top Explor 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 Trident Gold Trifecta Gold* Trifecta Gold Trilogy Mtls Trilogy Mtls* TriMetals Mng* Trinity Res* Trinity Valley Trinity Valley* Trio Resources* TriStar Gold TriStar Gold* Triumph Gold Triumph Gold* Troilus Gold* Troilus Gold Troubadour Res Troy Res* 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 T V C O O O C O T O V O V O V V O T O N O V O T V V O V T X O O V O O V O V O O T V O O V V O V O V 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 Umbral Enrgy* Unigold* Unigold United Battery* United Battery United Res Hdg* United States A* United States S* Universal Cop Universal Vent Ur-Energy* Ur-Energy Uragold Bay Rs

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

T 0.19 0.14 0.08 0.05 0.06 0.34 0.44 0.03 0.14 0.00 0.00 1.10 0.01 1.25 0.92 0.38 0.08 0.06 0.07 0.07 0.09 0.48 0.67 0.12 14.25 15.38 10.48 0.27 0.00 0.12 0.08 0.25 0.06 0.00 12.02 8.90 0.06 0.05 0.30 0.23 0.04 0.09 0.00 0.22 2.43 1.64 1.31 0.00 0.00 0.17 0.08 0.09 0.06 0.00 0.10 0.04 0.19 0.13 0.04 0.07 0.18 0.29

0.23 0.17 0.09 0.05 0.07 0.38 0.51 0.03 0.15 0.00 0.00 1.48 0.01 1.30 0.98 0.53 0.08 0.06 0.08 0.08 0.11 0.55 0.73 0.12 14.97 16.54 10.99 0.30 0.23 0.13 0.10 0.26 0.08 0.05 13.24 9.69 0.09 0.05 0.30 0.23 0.05 0.09 0.06 0.29 2.67 1.95 1.42 0.04 0.06 0.20 0.22 0.09 0.07 2.40 0.18 0.13 0.21 0.16 0.05 0.07 0.18 0.35

(100s)

12-month Change

Week

Exc Volume

Last

12-month

High

Low

Change

73 784 3756 1483 14 194 0 1 217 1706 148 450 36 1800 1 229 241 60 1819 1183 219 26 99 1343 5830 2239 1 193 1123 105 824 262 1 430 8 410 996 294 4195 408 550 2416 360 16 1 2 38 1544 3448 533 2490 15644 4898 8899 623 180 26 409

1.17 1.58 0.06 0.20 2.98 0.44 0.00 0.00 16.90 22.90 0.55 0.75 0.10 0.14 0.03 0.06 0.18 0.12 0.61 0.46 6.24 0.07 0.11 0.08 0.10 0.06 0.00 0.06 0.08 2.83 2.10 0.11 0.03 0.10 0.07 0.00 0.38 0.28 0.34 0.25 0.91 1.22 0.04 0.05 0.08 0.10 0.09 1.96 2.64 1.33 1.80 0.97 1.32 0.03 0.02 0.00 0.05 0.08

1.11 1.13 1.53 1.54 0.05 0.06 + 0.16 0.16 2.51 2.85 0.38 0.38 0.00 0.00 unch 0.00 0.02 unch 15.03 16.21 + 21.24 22.08 + 0.00 0.54 + 0.63 0.74 + 0.09 0.09 + 0.12 0.13 unch 0.03 0.03 unch 0.04 0.06 unch 0.16 0.16 unch 0.12 0.12 unch 0.55 0.56 0.40 0.42 + 5.36 5.71 0.07 0.07 unch 0.09 0.11 + 0.06 0.07 + 0.09 0.10 + 0.04 0.05 0.00 0.12 unch 0.03 0.04 + 0.05 0.08 + 2.54 2.63 1.86 1.91 0.09 0.10 + 0.00 0.03 + 0.09 0.09 unch 0.07 0.07 unch 0.00 0.00 0.32 0.33 0.23 0.25 0.24 0.29 + 0.18 0.21 + 0.80 0.83 + 1.10 1.14 0.04 0.04 unch 0.05 0.05 0.00 0.08 unch 0.00 0.10 unch 0.09 0.09 unch 1.73 1.90 + 2.35 2.60 + 0.96 1.06 1.27 1.44 0.78 0.83 + 1.05 1.13 + 0.02 0.02 + 0.01 0.02 + 0.00 0.00 unch 0.00 0.05 + 0.07 0.07 -

283 71 46 0 555 1955 2320 1356 230 333 85 196 4010 13 9 175 241 62394 145 489 1427 109 23994

7.73 0.10 0.09 0.00 0.72 0.14 0.11 0.16 0.04 0.07 0.12 0.38 0.52 0.16 0.20 0.04 0.50 7.38 0.10 3.60 0.54 0.74 0.45

Stock

0.05 0.02 0.01 0.03 0.09 0.02 0.00 0.00 0.62 0.74 0.06 0.08 0.03 0.00 0.00 0.00 0.00 0.00 0.02 0.01 0.39 0.00 0.02 0.01 0.01 0.02 0.00 0.01 0.03 0.06 0.06 0.02 0.00 0.00 0.00 0.00 0.03 0.01 0.05 0.04 0.05 0.01 0.00 0.00 0.00 0.00 0.00 0.02 0.14 0.21 0.26 0.07 0.08 0.01 0.00 0.00 0.03 0.01

5.27 6.95 0.07 0.32 3.09 0.55 0.00 0.02 17.13 22.90 0.55 0.75 0.10 0.14 0.06 0.08 0.24 0.18 0.61 0.46 10.54 0.15 0.20 0.22 0.29 0.06 0.20 0.06 0.08 3.68 2.82 0.13 0.50 0.15 0.07 0.00 0.39 0.29 0.58 0.44 1.20 1.22 0.08 0.08 0.10 0.13 0.17 1.96 2.65 1.33 1.80 1.10 1.45 0.03 0.02 0.00 0.06 0.08

0.31 0.44 0.02 0.07 0.50 0.15 0.00 0.02 6.19 8.79 0.21 0.27 0.01 0.02 0.01 0.02 0.11 0.08 0.15 0.11 4.23 0.05 0.06 0.04 0.06 0.01 0.12 0.01 0.02 1.50 1.03 0.03 0.01 0.04 0.07 0.00 0.16 0.12 0.07 0.06 0.30 0.42 0.02 0.03 0.02 0.04 0.05 0.27 0.37 0.20 0.27 0.30 0.43 0.01 0.00 0.00 0.02 0.02

0.91 0.02 0.02 0.00 0.27 0.00 0.00 0.00 0.02 0.03 0.01 0.01 0.03 0.03 0.06 0.00 0.01 0.29 0.02 0.48 0.02 0.06 0.08

12.74 0.17 0.90 0.10 0.72 0.25 0.19 0.19 0.08 0.10 0.46 0.38 0.52 0.24 0.30 0.09 0.80 15.90 0.23 6.50 0.97 1.29 0.45

2.61 0.04 0.01 0.03 0.09 0.09 0.06 0.07 0.01 0.02 0.07 0.07 0.10 0.03 0.01 0.02 0.25 4.54 0.03 3.01 0.27 0.39 0.05

U-V 6.27 0.08 0.07 0.00 0.24 0.12 0.09 0.15 0.02 0.00 0.10 0.33 0.43 0.00 0.00 0.03 0.45 6.58 0.00 3.01 0.48 0.67 0.28

7.35 0.10 0.09 0.04 0.61 0.13 0.09 0.15 0.04 0.07 0.10 0.36 0.49 0.13 0.14 0.03 0.47 7.36 0.10 3.08 0.50 0.67 0.36

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

(100s)

High Low

Week Last

12-month

Exc Volume

High

Low

Change

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 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 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* Viking Gold Virginia Enrgy Virginia Enrgy* Viscount Mng Visible Gold M Visible Gold M* Vision Lithium Vision Lithium* Vista Gold* Vista Gold Viva Gold* Viva Gold Vizsla Res Vizsla Res * Volcanic Gold Volcanic Gold* Volt Energy Volt Energy* Voyageur Min* Voyageur Min VR Resources* VR Resources Vulcan Mnrls VVC Expl

X 4471 O 1674 D 5267 V 304 O 159 O 50 V 237 V 1345 O 142 V 80 V 1807 O 43 N 104455 O 202 O 370 V 834 O 38 V 236 O 66 V 439 O 34 V 321 O 161 V 290 V 4359 O 151 O 1094 V 1183 V 25 V 192 O 21 V 5988 O 2897 V 41 O 10 T 259 O 7 O 1692 O 5 V 443 O 447 T 1032 O 50 V 49 O 58 C 445 C 83 O 0 V 92 V 177 O 34 V 124 V 538 O 0 V 238 O 34 X 2001 T 223 O 280 V 529 V 12793 O 2815 V 351 O 55 V 86 O 28 O 18 V 323 O 113 V 418 V 161 V 504

0.95 0.15 3.13 1.14 0.84 0.02 0.02 0.25 0.00 0.20 0.17 0.13 10.91 0.00 0.24 0.32 0.09 0.13 0.04 0.05 0.05 0.09 0.05 0.07 0.14 0.24 1.16 1.55 0.27 0.54 0.40 0.10 0.08 0.10 0.02 0.58 0.01 0.03 0.03 0.05 12.27 16.58 0.25 0.31 0.02 0.03 0.12 0.00 0.45 0.11 0.08 0.39 0.17 0.08 0.09 0.07 0.94 1.27 0.29 0.39 2.93 2.14 0.64 0.45 0.08 0.05 0.06 0.08 0.29 0.40 0.05 0.03

0.87 0.90 + 0.08 0.13 2.31 2.70 + 1.06 1.10 + 0.78 0.81 + 0.02 0.02 unch 0.02 0.02 unch 0.17 0.23 + 0.00 0.00 unch 0.17 0.20 + 0.16 0.17 + 0.12 0.13 + 10.47 10.79 + 0.00 0.00 0.22 0.22 0.30 0.30 0.05 0.09 + 0.09 0.12 + 0.02 0.02 0.03 0.05 0.00 0.05 0.08 0.09 + 0.05 0.05 + 0.06 0.07 + 0.13 0.13 + 0.00 0.10 + 0.98 1.06 1.34 1.40 0.20 0.21 0.48 0.50 0.34 0.36 + 0.07 0.09 + 0.05 0.07 + 0.07 0.10 + 0.02 0.02 unch 0.50 0.58 + 0.01 0.01 unch 0.00 0.01 + 0.03 0.03 0.04 0.05 + 10.26 11.30 + 13.92 15.43 + 0.20 0.22 + 0.29 0.30 + 0.00 0.01 0.02 0.03 + 0.11 0.11 0.00 0.02 unch 0.00 0.35 0.00 0.11 unch 0.07 0.08 + 0.33 0.34 0.14 0.15 + 0.08 0.08 unch 0.08 0.09 + 0.06 0.07 + 0.85 0.90 + 1.16 1.21 0.26 0.29 + 0.33 0.39 + 0.95 2.50 + 0.70 1.84 + 0.55 0.64 + 0.45 0.45 + 0.08 0.08 + 0.05 0.05 unch 0.06 0.06 unch 0.07 0.07 0.26 0.29 + 0.35 0.39 + 0.04 0.05 + 0.03 0.03 unch

Walker Lane* Walker River* Walker River Wallbridge Mng* Wallbridge Mng Warrior Gold* Warrior Gold Waseco Res Wealth Mnrls

O O V O T O V V V

Stock

0.02 0.00 0.41 0.04 0.04 0.00 0.00 0.08 0.00 0.02 0.04 0.00 0.38 0.00 0.04 0.01 0.04 0.03 0.01 0.01 0.00 0.01 0.00 0.01 0.01 0.00 0.04 0.02 0.06 0.01 0.02 0.02 0.02 0.03 0.00 0.05 0.00 0.00 0.00 0.01 1.05 1.45 0.02 0.01 0.01 0.01 0.02 0.00 0.05 0.00 0.00 0.02 0.01 0.00 0.01 0.01 0.04 0.04 0.05 0.04 1.57 1.18 0.04 0.00 0.01 0.00 0.00 0.01 0.04 0.02 0.01 0.00

1.45 3.50 9.25 1.28 0.95 0.03 0.04 0.25 0.00 0.22 0.19 0.14 14.19 0.01 0.31 0.41 0.28 0.35 0.06 0.07 0.08 0.10 0.06 0.07 0.14 0.28 1.29 1.55 0.31 0.58 0.44 0.10 0.08 0.10 0.02 0.82 0.04 0.10 0.04 0.08 12.27 16.58 0.54 0.67 0.04 0.05 0.35 0.03 0.59 0.11 0.08 0.44 0.20 0.08 0.09 0.07 1.05 1.49 0.29 0.39 2.93 2.14 0.64 0.45 0.09 0.05 0.10 0.12 0.35 0.50 0.21 0.06

0.35 0.06 0.25 0.80 0.56 0.00 0.01 0.05 0.00 0.10 0.03 0.04 6.49 0.00 0.09 0.14 0.03 0.03 0.00 0.01 0.03 0.04 0.02 0.03 0.03 0.03 0.14 0.19 0.10 0.20 0.15 0.03 0.01 0.03 0.00 0.21 0.00 0.00 0.02 0.02 2.88 4.02 0.11 0.17 0.01 0.01 0.10 0.02 0.28 0.04 0.03 0.17 0.04 0.02 0.01 0.01 0.36 0.51 0.09 0.14 0.18 0.16 0.05 0.03 0.02 0.03 0.04 0.05 0.10 0.14 0.02 0.02

0.00 0.01 0.01 0.02 0.01 0.00 0.02 0.00 0.01

0.29 0.14 0.19 0.97 1.35 0.09 0.13 0.06 0.43

0.02 0.05 0.06 0.23 0.31 0.03 0.03 0.02 0.08

Wealth Mnrls* Wescan Gldflds Wesdome Gold* Wesdome Gold West High Yld West Red Lake West Red Lake* West Vault * West Vault Western Areas* Western Atlas Western Copper Western Copper* Western Mag Western Mag* Western Pac Rs* Western Pac Rs Western Potash Western Res* Western Troy C Western U&V Western U&V* Westgold Res* Westhaven Gold Westhaven Vent* Westkam Gold* Westkam Gold 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* Wildsky Res* Wildsky Res Winshear Gold Winshear Gold* Winston Gold Winston Gold* Wolfden Res* Wolfden Res Wolfeye Res X-Terra Res* X-Terra Res Xanadu Mines Xander Res Xiana Mng Xiana Mng* Ximen Mining* Ximen Mining Xtierra Inc Xtra-Gold Res Xtra-Gold Res* Yamana Gold Yamana Gold* Yanzhou Coal* Yorbeau Res* Yorbeau Res Zadar Ventures* Zadar Ventures Zanzibar Gold Zara Res* ZEN Graphene* ZEN Graphene Zena Mining Zephyr Mnls Zephyr Mnls* Zimtu Capital Zinc One Res Zinc One Res * ZincX Res ZincX Res* Zonte Metals Zonte Metals*

W-Z 6 400 1348 1837 5897 73 995 520 649

0.07 0.07 0.10 0.88 1.19 0.08 0.12 0.06 0.09

0.05 0.06 0.09 0.77 1.05 0.07 0.08 0.06 0.08

0.07 unch 0.07 + 0.09 0.78 1.08 0.07 0.11 + 0.06 unch 0.08 -

(100s)

High Low

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

556 868 657 3137 373 4364 2600 49 92 3 635 2165 4654 444 138 1 83 229 1 520 135 125 2 998 311 7 262 0 0 4646 11892 20 625 1532 12 2155 289 8 13 34 730 1 222 514 123 1426 825 315 2992 293 711 134 3 12 348 308 231 43 14387 78778 28 26 556 13 72 3557 516 124 607 50 456 78 102 5628 2172 360 86 324 166

Week

12-month

High

Low

Last

Change

0.06 0.09 10.54 13.84 0.12 0.20 0.15 0.09 1.50 1.85 0.14 1.90 1.53 0.13 0.09 0.39 0.54 0.22 0.15 0.05 0.56 0.46 1.40 1.08 0.80 0.11 0.14 0.00 3.50 64.26 47.61 0.10 0.95 1.28 0.03 0.07 0.03 1.06 0.10 0.15 0.15 0.10 0.09 0.07 0.14 0.19 0.98 0.11 0.15 0.06 0.33 0.06 0.03 0.39 0.52 0.08 0.75 0.55 7.76 5.73 0.78 0.05 0.06 0.24 0.32 0.20 0.02 0.54 0.73 0.05 0.44 0.32 0.12 0.02 0.01 0.09 0.07 0.29 0.19

0.05 0.06 0.06 0.09 + 8.40 9.81 + 11.37 13.33 + 0.11 0.12 + 0.15 0.17 0.11 0.13 0.08 0.08 unch 1.17 1.25 1.85 1.85 unch 0.13 0.14 + 1.44 1.60 + 1.05 1.19 + 0.12 0.12 + 0.09 0.09 + 0.39 0.39 unch 0.50 0.50 0.19 0.20 unch 0.14 0.15 + 0.05 0.05 unch 0.48 0.54 + 0.33 0.38 + 1.40 1.40 unch 0.90 0.92 0.66 0.67 0.07 0.11 + 0.00 0.14 + 0.00 0.06 unch 0.00 3.50 unch 58.60 63.41 + 43.23 46.64 + 0.00 0.10 + 0.82 0.88 1.12 1.19 + 0.03 0.03 0.05 0.07 + 0.02 0.03 + 1.06 1.06 + 0.00 0.08 + 0.11 0.11 0.10 0.11 + 0.05 0.10 + 0.08 0.09 unch 0.05 0.06 + 0.11 0.13 + 0.14 0.17 + 0.84 0.98 + 0.09 0.10 + 0.11 0.13 + 0.03 0.05 unch 0.25 0.30 + 0.05 0.05 unch 0.00 0.03 + 0.32 0.35 0.45 0.50 0.07 0.07 unch 0.64 0.75 + 0.47 0.55 + 7.18 7.49 + 5.30 5.51 + 0.00 0.78 unch 0.05 0.05 unch 0.06 0.06 0.19 0.24 unch 0.00 0.32 + 0.10 0.19 + 0.01 0.02 + 0.44 0.48 + 0.59 0.66 + 0.05 0.05 unch 0.41 0.44 + 0.30 0.32 + 0.11 0.11 0.01 0.01 unch 0.01 0.01 0.08 0.09 + 0.06 0.07 + 0.24 0.29 + 0.19 0.19 +

0.00 0.04 1.39 1.87 0.01 0.03 0.01 0.00 0.25 0.00 0.01 0.19 0.15 0.01 0.00 0.00 0.08 0.00 0.01 0.00 0.06 0.09 0.00 0.08 0.04 0.03 0.04 0.00 0.00 4.95 3.35 0.03 0.02 0.05 0.01 0.02 0.00 0.02 0.00 0.01 0.02 0.05 0.00 0.00 0.02 0.02 0.12 0.01 0.02 0.00 0.05 0.00 0.01 0.03 0.01 0.00 0.07 0.05 0.26 0.16 0.00 0.00 0.01 0.00 0.06 0.09 0.00 0.05 0.06 0.00 0.02 0.01 0.01 0.00 0.00 0.01 0.01 0.05 0.01

High Low 0.33 0.09 10.54 13.84 0.24 0.20 0.17 1.05 1.50 2.32 0.18 1.90 1.53 0.35 0.25 0.45 0.62 0.42 0.26 0.06 1.30 1.00 1.67 1.25 0.93 0.35 0.35 0.20 3.50 65.44 47.61 0.10 2.00 1.30 0.05 0.07 0.07 2.58 0.10 0.15 0.20 0.10 0.17 0.13 0.14 0.19 1.00 0.11 0.15 0.10 0.33 0.48 0.29 0.60 0.80 0.15 0.72 0.54 7.85 5.73 1.08 0.05 0.07 0.30 0.35 0.20 0.23 0.62 0.85 0.10 0.50 0.38 0.22 0.03 0.03 0.17 0.13 0.37 0.28

0.05 0.03 4.10 5.63 0.07 0.04 0.02 0.31 0.45 1.15 0.04 0.44 0.31 0.09 0.07 0.17 0.20 0.13 0.11 0.02 0.25 0.15 1.00 0.35 0.25 0.02 0.08 0.04 1.00 26.99 18.66 0.03 0.29 0.41 0.00 0.02 0.01 0.91 0.04 0.01 0.05 0.02 0.01 0.00 0.05 0.07 0.43 0.03 0.03 0.01 0.04 0.04 0.02 0.20 0.26 0.03 0.35 0.20 3.11 2.23 0.64 0.02 0.02 0.07 0.08 0.03 0.00 0.17 0.26 0.04 0.15 0.12 0.08 0.01 0.00 0.06 0.04 0.17 0.12

BID-ASK — JULY 06–10, 2020 12-MONTH STOCK

66 Resources African Metals Aftermath Silv Allante Res Alturas Min American CuMo AMV Capital Anconia Res Anglo-Bomarc Antler Hill Archon Mineral Asbestos Corp AsiaBaseMetals Atlanta Gold Atlantic Indus Aurelius Min Austin Res Avarone Metals Banro Corp* Barker Min Bearclaw Cap BHK Mining Blackheath Res Boss Power Brigadier Gold Brunswick Res Bullion Gold Cairo Res Camrova Res Canadian Silv Cassius Vents Cassowary Cap Centurion Mnls Cerro de Pasc Chatham Rock Chinapintza Mg Clarmin Explor Cleghorn Mnls Cliffmont Res Cliffs Nat Res* Comet Inds Cresval Cap CWN M’g Acq Cyntar Venture Cyprium Mng District Mines EastCoal Inc Electra Stone Eurotin Everton Res EVI Global Grp Excalibur Res Finore Mng Fire River Gol Four Nines Freedom Egy Full Metal Mnl Fusion Gold Galantas Gold GAR Limited Gentor Res GFM Res Global Cop Grp Global Vanad GobiMin

12-MONTH

EXC

BID

ASK

LAST

HIGH

LOW

STOCK

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

0.11 0.06 0.24 0.01 0.01 0.06 0.10 0.02 0.08 0.10 0.10 0.40 0.30 0.03 0.02 0.13 0.07 ...

0.11 0.01 0.01 0.02 0.08 0.17 0.05 0.01 0.06 0.34 ... ...

0.08 0.02 0.07 ...

0.12 0.01 0.12 0.07 0.07 1.45 3.10 0.02 0.05 0.16 0.03 ...

0.07 0.01 0.02 0.10 0.10 0.09 0.12 0.03 0.11 0.02 0.01 0.01 0.29 ...

0.05 0.06 0.07 0.17 0.26

0.16 0.09 0.25 ...

0.01 0.07 ...

0.02 0.08 0.10 0.18 ...

0.46 0.04 0.02 0.14 0.12 ...

0.11 0.01 0.03 0.02 0.13 0.20 0.10 0.01 0.15 0.85 0.01 0.06 0.15 ...

0.07 ...

0.20 1.00 0.15 0.10 0.09 3.20 3.65 0.02 0.07 0.30 0.03 ...

0.19 0.02 0.03 0.10 0.15 0.10 0.12 0.07 0.20 0.02 0.01 ...

0.32 ...

0.07 0.10 0.08 0.24 0.30

0.07 0.06 0.25 0.16 0.01 0.06 0.07 0.01 0.15 0.06 0.18 0.35 0.35 0.03 0.02 0.14 0.07 0.04 0.11 0.01 0.01 0.02 0.07 0.17 0.05 0.03 0.10 0.21 0.07 0.06 0.10 0.05 0.07 0.29 0.15 0.02 0.14 0.10 0.06 1.43 3.10 0.03 0.05 0.11 0.03 0.12 0.09 0.01 0.02 0.03 0.10 0.10 0.11 0.09 0.10 0.01 0.10 0.17 0.29 0.15 0.03 0.07 0.08 0.24 0.26

0.37

0.05

Goldbelt Emp Goldblock Cap GoldHaven Res Graphite Egy Great Lakes Gr Great Quest Fe Green Arrow Grenville Gold Grosvenor Res GrowMax Res Gunpoint Expl HFX Holding Highbury Proj Highvista Gold Hornby Bay Mnl Hylands Intl IM Exploration Indico Res Inspiration Mg Interconnect Intl Battery Iron South Mng Jasper Mining Jubilee Gold Kapuskasing Gd Karora Res Kermode Res King Global Knick Expl Kodiak Copper Kootenay Zinc La Imperial Latin Metals Le Mare Gold Leo Res Liberty One Li Lida Resources Lightspeed Dis Lions Bay Mg Madeira Mrnls MAG Silver* Magna Terra Major Precious Martina Mnls Matachewan Con McChip Res Mega Copper Metalo Manuf Micrex Dev Midasco Cap MillenMin Vent Milner Con Slv Minecorp Egy Mineral Hill Miramont Res Mongoose Mg Montana Gold Montero Mg&Ex MPV Explor Navis Res Corp Nebu Res New Klondike Nexco Res Norse Gold Odyssey Res

0.33

0.05

0.02

0.01

0.08

0.07

0.09 0.52 0.50 0.58 0.04 0.02 0.15 0.13 0.15 2.10

0.04 0.10 0.30 0.22 0.03 0.01 0.03 0.04 0.03 0.10

0.03

0.01

0.15

0.05

0.08

0.05

0.47 0.35

0.09 0.20

0.10 0.10 0.14 0.34 0.32 0.02 0.18 0.10 0.13 7.17 3.60 0.08 0.21 0.11

0.04 0.01 0.04 0.12 0.07 0.01 0.05 0.03 0.05 0.98 2.75 0.02 0.03 0.08

0.24 0.09

0.05 0.06

0.04

0.01

1.02 0.11

0.05 0.01

0.16 0.01

0.10 0.01

0.18 9.50 4.13 0.06 0.08 0.11 0.28 0.36

0.17 0.10 0.13 0.03 0.05 0.04 0.16 0.20

EXC

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

BID

0.02 0.15 ... ...

0.05 ...

0.02 0.07 0.13 0.02 0.60 0.01 0.20 ...

0.09 0.04 0.07 ... ...

0.04 ...

0.24 0.06 0.48 0.06 0.47 0.01 0.03 0.01 0.05 0.04 0.03 0.03 0.01 ...

0.07 ...

0.11 0.26 ...

12.52 0.02 ...

0.05 0.12 0.41 0.03 0.12 0.02 0.06 ...

0.04 ...

0.03 0.20 0.10 0.09 0.07 0.12 ...

0.04 0.01 0.04 0.03 0.03

ASK

LAST

0.02 0.25 ... ...

0.05 0.01 0.03 0.11 0.20 0.02 0.69 3.05 0.30 ...

0.10 0.06 0.07 0.01 ...

0.11 ...

0.27 0.10 0.75 0.06 0.48 0.02 0.04 0.01 0.06 0.05 0.10 0.04 0.01 ...

0.07 ...

0.19 0.26 ...

13.30 0.02 ...

0.14 0.17 0.53 0.10 0.30 0.02 0.08 0.50 0.06 ...

0.03 0.20 0.20 0.10 0.07 0.15 ...

0.04 0.01 0.08 0.05 0.04

0.02 0.14 0.42 0.47 0.04 0.10 0.02 0.07 0.12 0.09 0.52 0.01 0.22 0.17 0.11 0.04 0.06 0.01 0.03 0.06 0.31 0.24 0.06 0.76 0.10 0.48 0.01 0.03 0.01 0.05 0.04 0.01 0.03 0.09 1.09 0.07 0.24 0.20 0.28 0.03 12.52 0.02 0.42 0.05 0.12 0.41 0.02 0.20 0.01 0.07 0.05 0.05 0.12 0.15 0.14 0.14 0.10 0.06 0.16 0.30 0.04 0.01 0.05 0.04 0.03

HIGH

LOW

0.14 0.45 0.47

0.12 0.06 0.42

0.04 0.25 0.17 0.10 0.74 0.05 0.30

0.02 0.06 0.08 0.08 0.43 0.01 0.17

0.11 0.06 0.15 0.01

0.02 0.03 0.04 0.01

0.06

0.06

0.28 0.25 0.95 0.14 0.73 0.02 0.10

0.04 0.01 0.38 0.03 0.20 0.01 0.01

0.13 0.18 0.12 0.16 0.09

0.04 0.02 0.01 0.02 0.04

0.11 0.27 0.20 0.39

0.04 0.13 0.08 0.04

14.40 0.03 0.42 0.06 0.18 0.65 0.16 0.35

6.12 0.01 0.02 0.05 0.10 0.39 0.02 0.07

0.15

0.07

0.05 0.20

0.02 0.07

0.17 0.15 0.10 0.17 0.18

0.05 0.11 0.02 0.01 0.06

0.07 0.05 0.05

0.03 0.02 0.02

12-MONTH STOCK

Optimum Vent Ord Mountain Pac Arc Res Pac Bay Mnrls Pan Andean Min Patriot Gold Pedro Res Philippine Mtl Pike Mountain PPX Mining Prime Meridian Quantum Cobalt Rare Element* Rathdowney Res Razore Rock Res Red Oak Mining Reliant Gold Riley Resource Rizal Res Rockex Mng Rockland Mnls Rockwealth Res Ross River Sage Gold Saint Jean Samco Gold Secova Mtls Sennen Potash Skarb Explor Slave Lake Zn SouthGobi Res Southstone Min Spey Resources Stans Energy Surge Explor Tajiri Res Talmora Diamd Taranis Res Thunder Mtn Gd Tiger Intl TomaGold Top Explor Tri-River Vent Trident Gold TriMetals Mng True Grit Res Ubique Mineral Upper Canyon Vale* ValOre Metals Vatic Vent Walcott Res Western Troy C Westminster Rs Whitemud Res Winshear Gold Winston Res Worldwide Res Yukoterre Res Zara Res Zena Mining Zenith Explor Zinco Mng Zincore Mtls

EXC

BID

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

0.30 0.25 0.01 0.06 ...

0.05 ...

0.06 0.17 0.01 0.07 ...

0.11 0.07 0.06 0.10 ...

0.16 0.01 0.02 0.07 0.46 ...

0.01 0.02 0.01 0.05 ...

0.03 0.04 0.02 0.01 0.04 0.01 0.39 0.10 0.01 0.08 0.01 0.15 0.05 0.03 ...

0.13 0.11 0.01 0.02 ... ...

0.06 0.05 0.11 0.04 0.06 0.01 0.12 ...

0.02 ... ...

0.06 0.03 0.05 ...

ASK

0.42 0.25 0.25 0.12 0.09 0.08 0.24 0.08 0.24 0.07 0.07 ...

0.16 0.08 0.10 0.10 ...

0.24 0.02 0.04 0.08 0.50 0.39 0.01 0.02 0.01 0.06 1.10 ...

0.08 0.11 0.01 0.07 0.01 0.44 0.10 0.04 0.08 ...

0.22 0.05 ... ...

0.18 0.12 ...

0.04 0.25 ...

0.07 0.10 0.20 0.06 0.07 0.02 0.14 0.01 0.03 ... ...

0.08 0.65 0.07 0.40

LAST

0.29 0.20 0.16 0.07 0.09 0.05 0.10 0.06 0.17 0.06 0.07 1.10 0.15 0.07 0.10 0.10 0.02 0.18 0.02 0.02 0.08 0.46 0.26 0.02 0.04 0.05 0.05 0.45 0.08 0.04 0.09 0.01 0.06 0.01 0.39 0.09 0.03 0.08 0.07 0.17 0.05 0.02 0.04 0.12 0.12 0.02 0.04 0.25 10.24 0.07 0.10 0.09 0.05 0.06 0.02 0.14 0.01 0.02 0.10 0.07 0.05 0.02 0.05 0.05

HIGH

LOW

0.30 0.25 0.30 0.15 0.10 0.06 0.20 0.09 0.17 0.08 0.16 3.15 0.89 0.11 0.10 0.23

0.15 0.06 0.16 0.05 0.03 0.05 0.09 0.02 0.12 0.04 0.04 0.20 0.06 0.05 0.04 0.04

0.20

0.11

0.05 0.11 0.50

0.01 0.01 0.18

0.05 0.06

0.05 0.03

0.10 0.09 0.20 0.04 0.06 0.11 0.23 0.10 0.05 0.10 0.17 0.20

0.08 0.04 0.06 0.01 0.02 0.01 0.03 0.03 0.01 0.04 0.07 0.04

0.02

0.02

0.20 0.12 0.02 0.10

0.12 0.03 0.01 0.03

11.10 0.13

6.57 0.07

0.20 0.06 0.20 0.03 0.15 0.04 0.07 0.16 0.22 0.10 0.14

0.09 0.02 0.04 0.01 0.05 0.01 0.02 0.08 0.07 0.04 0.02

24

J U LY 2 0 – AU GU ST 2 , 2 0 2 0

/ THE NORTHERN MINER

WWW.NORTHERNMINER.COM