The Northern Miner April 18 2022 Issue 8

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Analysts’ metal price assumptions climb on Russia-Ukraine conflict

Federal budget proposes $3.8B to support Canada’s critical minerals industry BUDGET 2022

| Investment a key part of government’s plan to go ‘green’

METALS FORECAST

| Zinc and nickel prices

to remain elevated

C

BY NAIMUL KARIM

anada’s 2022 Budget has proposed to provide a total of up to $3.8 billion over eight years to develop electric vehicle components such as batteries and permanent magnets and ensure that the country becomes a “vital part” of the global critical minerals industry.

The budget — the first presented by the Liberal minority government since its re-election last year — allocates up to $1.5 billion for the development of critical minerals supply chains, with “a focus on priority deposits.” It also aims to invest $79.2 million over five years for Natural Resources Canada to provide public access to data sets that inform mineral exploration and development.

In addition, the budget proposes to introduce a new 30% tax credit for mineral exploration expenses incurred in Canada that target minerals like nickel, lithium, cobalt, graphite, copper, rare earths elements, zinc, uranium, platinum group metals and others.

“We will be investing in Canada’s abundant critical minerals and metals. They are a key part of going green,” said Finance Minister Chrystia Freeland while unveiling the budget. “As carmakers urgently upgrade their assembly lines to make zero emission vehicles, we will be making sure Canadians can afford them.

We will manufacture the batteries that power zero emission cars and trucks and we will invest in charging stations from coast to coast. For our children, that means cleaner air and cleaner water tomorrow.”

Brendan Marshall, VP economic and northern affairs at the Mining Association of Canada (MAC), described the budget as “exceptionally positive” for the mining sector during an interview with The Northern Miner.

“The emphasis on the mining sector in this budget is unique compared to those in recent years, the level of prominence in the sector… as a driver of low-carbon, clean tech development is well thought out and well understood. This is a vision budget for the sector,” he added.

A month before the release of

S Finance Minister Chrystia Freeland delivers the 2022 federal budget in the House of Commons. OFFICE OF CHRYSTIA FREELAND/TWITTER

‘THIS IS A VISION BUDGET FOR THE SECTOR.’ BRENDAN MARSHALL VICE PRESIDENT, ECONOMIC AND NORTHERN AFFAIRS, MINING ASSOCIATION OF CANADA

the budget, MAC, which represents about 50 of Canada’s leading mining companies, urged the government to invest more in critical minerals if it wants to avoid “slipping behind” its competitors. It called on the need for “heightened investment in research and development” and doubling the mineral exploration tax credit for critical minerals.

Marshall said that the measures proposed in the budget were representative of MAC’s views. He added that the proposed budget provided geoscience and exploration incentives to find more minerals and metals, especially in the case of rare earth and battery metals.

More resilient supply chains The budget proposed $603.2 million over five years to build a “more resilient” supply chain. “The recent flooding in British Columbia — which cut off the flow of goods to and from the west coast — reinforced the importance of our highways, railways, and ports as the backbone of our transportation system,” stated the budget document released by

the Finance Ministry.

Damage caused due to excessive rains and flooding compelled Teck Resources (TSX: TECK.A/TECK.B; NYSE: TECK) to lower its sales estimates last year.

The budget also proposed $1 billion over six years, starting in 202425 to provide “targeted support” towards critical minerals projects, with priority given to manufacturing, processing, and recycling applications. It also hopes to allocate up to $144.4 million over five years to support research development related to critical mineral value chains.

In addition, the budget proposed to provide $103.4 million to develop a National Benefits-Sharing Framework for natural resources and the expansion of the Indigenous Partnership Office and the Indigenous Natural Resource Partnerships program.

“These investments will increase Indigenous capacity to benefit from all types of natural resources projects, including critical minerals,” the budget stated.

In the budget last year, the government said that it would invest $9.6 million over three years to create a Critical Battery Minerals Centre of Excellence at Natural Resources Canada to co-ordinate federal policy and programs on critical minerals. It had also proposed to invest $36.8 million for federal research and development to advance critical battery mineral processing and refining expertise. TNM

BY HENRY LAZENBY

everal market analysts are adjusting higher their metal price assumptions for 2022 as the Russian invasion of Ukraine drags on, wreaking havoc on global metals and mineral supply chains.

Moody’s Investors Service released a report on Apr. 6 flagging spiking prices for commodities that Russia plays a crucial role in supplying. These include aluminum, zinc, nickel, copper, gold and metallurgical and thermal coal. Moody’s said the price moves reflected fears of supply disruptions and scarcity at a time of generally low inventories, especially for base metals.

In the wake of the heightened volatility, Moody’s noted that some base metals prices, including aluminum and nickel, approached record highs in the first quarter of 2022, while copper and zinc prices have remained elevated.

Supply-demand balances for these commodities were already tight, with supply volatile amid low stocks and supply-chain disruptions. As a result, prices were high at the start of 2022, before the military conflict.

“Our price assumptions incorporate our expectations that G20 economies will expand by 3.6% in 2022 and 3% in 2023,” said Moody’s.

“China’s GDP will grow 5.2% in 2022 and 5.1% in 2023, reflecting policy support with higher infrastructure spending, tax cuts and measures targeted to specific segments; these factors support commodity prices because China is a significant commodity consumer.

“Risks to the outlook are high as the escalating Russia-Ukraine crisis has the potential to tip the global economy into a recession,” said Moody’s analysts.

The rating agency further elaborates that metals and mining companies will probably benefit from the high commodity prices and sustain profitability above historical levels in 2022.

Moody’s expects commodity prices to continue reflecting the risk of supply and trade-flow disruptions in the short term because of the military conflict. Rising energy

THE NEXT ROUND OF LIKELY GOLD MERGERS / 5

and freight costs will also support higher prices because they will lead to additional production curtailments in Europe, where high energy prices are already straining industrial production and further tightening base metals supply.

“Moreover, surging energy and steelmaking input costs and fears of potential raw material and steel product shortages caused steel prices to rise during March, after steep declines during the second half of 2021. These factors are expected to keep steel prices at elevated levels in 2022 and possibly longer,” said Moody’s.

“The military conflict has put Russian coal exports at risk, further disrupting supply and increasing coal prices.”

Moody’s expects, at least for the medium term, that some countries will look to reduce their dependence See METALS / 6 PM40069240

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Kinross moves towards an Americas-focused portfolio GOLD

| Miner agrees to sell Russian assets for US$680M; in talks to sell Chirano

BY NAIMUL KARIM

I

n the same week in early April, Kinross Gold (TSX: K; NYSE: KGC) announced the sale of its Russian assets for US$680 million, an agreement to potentially sell its 90% interest in the Chirano gold mine in Ghana to Asante Gold (CSE: ASE; US-OTC: ASGOF), and an update on its recently acquired Great Bear gold project in Red Lake, Ont., where it aims to compile a first resource by the end of 2022.

If its plans are completed as announced, they would refocus the company’s portfolio squarely on the Americas.

“Following the potential sale of its Russian assets and potentially Chirano in Ghana, we estimate that 70% of Kinross’s production would be sourced from North and South America and trend towards 85% by 2029 with Great Bear potentially coming online,” Canaccord Genuity mining analyst Carey MacRury wrote in a research note to clients.

Sale of Russian assets On Apr. 5, Kinross announced the sale of its Russian assets to Highland Gold Mining for a total of US$680 million in cash, a month after suspending its operations in the country due to the ongoing war between Russia and Ukraine.

The company, which has been operating in Russia for about 25 years, will receive US$400 million for its Kupol underground mine and

Kinross Gold’s 90%-owned Chirano gold mine, in Ghana. KINROSS GOLD

the surrounding exploration licences in the country’s Far Eastern region of Chukotka and US$280 million in cash for Udinsk, the first project it expected to develop on the Chulbatkan licence, acquired in 2020.

Kinross had previously forecast that about 13% of its global production would come from Russia.

Analysts have described Kinross’s move, which is subject to the Russian government’s approval, as positive, but were wary about the deal’s relatively long payment schedule spread evenly over the 2022-2027 period.

“We note that a heavily staggered payment plan mutes the immediate benefits to Kinross,” BMO mining analyst Jackie Przybylowski wrote in a note to clients on Apr. 5.

Scotiabank analyst Tanya Jakusconek stated in a research note that the deal might see some credit risk given the size of the transaction rela-

tive to Highland Gold, though this is “partly mitigated” by a security package that includes share pledges, financial guarantees and an escrow account.

Highland Gold is one of the largest gold producers in Russia, with existing operations close to Kupol and Udinsk.

Kinross’s other potential sale, announced Apr. 6, is of its open pit and underground Chirano mine in southwestern Ghana. The mine, which produced 154,668 gold-equivalent oz. in 2021, compared to 166,590 oz. in 2020, is located immediately south of Asante Gold’s Bibiani gold mine. The government of Ghana carries a 10% interest and the mine began production in October 2005.

“From time to time, Kinross receives unsolicited proposals regarding its assets, including Chirano, which we will explore for the benefit

of our shareholders,” Louie Diaz, Kinross Gold’s vice-president of corporate communications, told The Northern Miner. “While Kinross is in confidential discussions with Asante, there is no guarantee a deal will be reached.”

Asante Gold’s CEO Dave Anthony described the agreement as a potential gamechanger for the company.

“Last year we picked up Bibiani (gold mine) which is coming online in the third quarter… and then we could bring Chirano into the mix, which could add another significant rate of production to our profile,” he told The Northern Miner over the phone, adding, “we have been interested in the asset for a long time.”

Great Bear project Kinross also provided an update on its newly acquired Great Bear (Dixie) gold project in Ontario. The

gold miner, which paid $1.8 billion in cash and shares for Great Bear Resources in a deal that closed in late February, is aiming to report an initial inferred resource by the end of the year. It plans to start a prefeasibility study on the project in 2023.

With 10 drill rigs at work at Great Bear, Kinross expects to complete about 200,000 metres of drilling focusing on the project’s LP Fault zone in 2022. In total, Kinross has budgeted about $75 million for activities at the project this year, including preparatory steps for the prefeasibility study, such as “critical field work including metallurgy, hydrology and geotechnical drilling and test work.”

The company also released drill results from the 60 holes completed late last year and in early 2022 at the LP Fault zone. These holes add to the roughly 340,000 metres of drilling conducted by Great Bear prior to the takeover.

Highlights from the drilling included 10.3 metres grading 15.1 grams gold per tonne starting from 461.5 metres in drillhole BR-481; and 3.8 metres grading 25.7 grams gold starting from 18.7 metres in drillhole BR-503.

At presstime in Toronto, Kinross Gold was trading at $7.75 per share within a 52-week trading range of $6.32 and $10.05. The company has 1.3 billion common shares outstanding for a market capitalization of $10 billion. TNM

Centerra hands Kumtor mine to Kyrgyzstan, ending dispute GOLD

| Expropriated mine previously

contributed more than half of Centerra’s output

BY CECILIA JAMASMIE

C

enterra Gold (TSX: CG) and the Kyrgyz Republic have reached an out-of-court settlement in which the Canadian miner has agreed to hand control of its expropriated Kumtor operation to the country’s government, ending an almost year-long dispute over the asset.

The deal will see Centerra transfer ownership of the mine to its wholly owned subsidiary Kumtor Gold and an affiliate to state-owned refiner Kyrgyzaltyn OJSC. In exchange, Kyrgyzaltyn will return its 26% stake in Centerra back to the company, which plans to cancel the shares.

The Toronto-based miner and the Kyrgyz government have clashed over financial and environmental issues related to the mine for years.

Their standoff took a turn for the worse in May 2021, when the nation took control of the mine, alleging that Centerra was running it in a detrimental way for both the environment and nearby communities.

Centerra, which has denied all the allegations, kicked off arbitration shortly after and sued former director Tengiz Bolturuk, claiming that the dual Canadian and Kyrgyz citizen had secretly co-operated to stage the expropriation.

Kumtor was the largest of Centerra’s gold mines, contributing to more than 50% of the company’s total output.

The operation is also crucial to Kyrgyzstan. The mine accounts for a fifth of the ex-Soviet country’s

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Inside the processing facilities at the Kumtor mine. CENTERRA GOLD

total industrial output, is its largest private-sector employer and taxpayer and main foreign investment.

Between 1997 and 2020, Kumtor produced more than 13.2 million oz. of gold, with last year’s output slightly over 556,000 ounces. TNM

Over $500 million deployed through PearTree in 2021 for the mineral exploration & development sector

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Canada’s decarbonization plan mum on metals and mining

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t is said that to produce any good, what cannot be grown must be mined. By this token, governments and the general public tend to conveniently forget that the energy revolution and, by extension, the global effort to reduce anthropogenic carbon emissions depend squarely on the abundant and reliable supply of critical metBY HENRY LAZENBY als mined from the ground.

With the recent release of the Canadian federal government’s 2030 Emissions Reduction Plan, there was a distinct lack of language and focus on addressing key issues affecting the development of new mines that will be needed to meet demand stemming from the energy revolution.

While Canada’s 2030 Emissions Reduction Plan is meant to serve as a pathway for Canada to achieve its official pledge to reduce emissions by 40% to 45% below 2005 levels and achieve net zero by 2050, it is ambitious in scope, optimistic in its assumptions, and vague in terms of addressing the emerging supply gaps for critical minerals in the medium and long term.

Although it is an essential framework for Canada to achieve its emissions commitments, the 271-page document fails to address the metals and minerals required to meet these ambitious targets.

As CIBC Capital Markets analyst Shaz Merwat pointed out in a recent research note, the most notable incremental data point is that the government is now mandating at least 20% of all light-duty vehicle sales to be electric vehicles (EVs) by 2026 and 60% by 2030. Even without this new initiative, Bloomberg New Energy Finance (NEF) already forecasts 20% Canadian EV sales in 2026.

Demand for minerals needed for batteries, including lithium and cobalt, could increase by almost 500% by 2050, the World Bank estimates. Asia, particularly China, dominates the global production and processing of critical minerals, rare earths, and rare metals used to make EVs. A green infrastructure and transportation spending push will mean more mining of lithium, nickel, graphite, coppers, silver, rare earths and tin.

Based on an analysis by the World Bank, the Canadian Climate Institute, in its Jan. 2020 “Charting our Course” report, found that Canada’s mining sector is indeed well-positioned to take advantage of increased global demand for clean technology. Canada is home to significant deposits of almost all critical minerals and metals for clean technologies.

But battery and energy metals demand is moving so fast that supply will be highly challenged to keep up. Without a significant thrust by national and provincial governments to entice producers and junior miners to find and develop new mineral deposits, glaring supply deficits for lithium, nickel and copper will beset the industry for some time and keep EV prices high and adoption rates constrained.

These supply deficits will only increase our dependence on foreign suppliers unless we start mining and refining these critical minerals ourselves.

The U.S. and Canadian governments have been good about providing incentives for EV buyers and manufacturers. However, little tangible support is on offer when it comes to mining, with a seemingly ever-growing list of sizeable battery metal mine development projects being left in legal limbo.

For example, in Canada, Bill C-69 — the Impact Assessment Act passed in 2019 — is legislation passed by a federal government seemingly out of touch with the frustrating experience many miners and developers deal with at the grassroots level. In short, Bill C-69 broadened the scope of the assessment process and added more consultation with the public and particularly, Indigenous groups.

The reality is that while Indigenous consultation and Aboriginal rights cannot and should not be ignored, the Impact Assessment Act does not stimulate investor confidence in Canada as a mining investment destination. The legislation can present a significant obstacle to companies trying to move a project forward to production and, in the worst of cases, could drag the process out so many years that the economics no longer work and the mine is shelved.

This often happens in North America, where it can take 20 years to move a project from discovery to commercial production. Throw into the mix the barrage of often spurious legal challenges by non-governmental agencies regarding the issuance of new mining permits, and the development timelines continue to slip.

When it comes to mining critical metals, a recent Fraser Institute report found that Canadian mining jurisdictions lagged their international competitors for increases in the time for permit approval, transparency and confidence that permits will be granted.

Canada has a multi-billion-dollar fund set up to invest in green technologies and is trying to entice companies involved in all levels of the EV supply chain. Last month, the federal government announced financial support for building two facilities that will make battery materials for EVs and one battery gigafactory. Still, no agreements have yet been announced for mineral extraction or refining.

Absent before the Apr. 7 federal budget announcement earmarking $3.8 billion for investment in Canada’s critical minerals industry, however, was a coherent national strategy for Canada’s critical mineral sector focused on, among other things, driving research, innovation, and exploration. It’s late in the game to do so now, and without addressing permitting times (and general anti-mining sentiment), it’s not going to result in getting the required materials for the energy transition in the timeframe we need them.

For Canada and North America to successfully meet their emissions reduction targets, governments will need to make a concerted effort to educate officials and the public about the importance of mining, which permeates every step towards meeting emissions reduction targets and stimulating the Energy Revolution.

It is entirely owing to mining that the smartphone-wielding, flashy EVloving public have the means to reduce their carbon emissions or protest new mines, all while using mined metals and minerals in technologies sitting in the palms of their hands. TNM

DEPARTMENTS Professional Directory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Market News . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Metal, Mining and Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Stock Tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20-23

COLUMN

| Perception trumps reality

BY DR. CHRIS HINDE Special to The Northern Miner

T

he mining industry is playing by the wrong rules, and has been for decades. Many of us are scientists, and believe truth is discovered by establishing all of the facts. However, as Oscar Wilde told us, the truth is rarely pure and never simple. Reality is easily distorted by incomplete data and misunderstood information, and what is real doesn’t matter as much as people’s perceptions, accurate or not. This dichotomy is exposed by publication of a report on the looming, catastrophic, underinvestment in mining.

The role of perception has been debated by philosophers since Plato, 400 years before Christ, and Aristotle (384-322 BC) was one of the first to observe that we might perceive to have seen or heard something, without actually seeing or hearing anything. Whenever we mis-see or mis-hear, Aristotle says, we nonetheless see or hear something real; it is just not what we take it to be.

The difference between reality and perception comes to mind as we approach Saint George’s Day. The patron saint of England was born in Cappadocia (now Turkey) and died Apr. 23, 303. According to tradition, he was a Roman soldier (indeed a member of the Praetorian Guard for emperor Diocletian) who was decapitated for refusing to recant his Christian faith. Venerated in the 5th century, Saint George is buried in Lod, Israel.

I’ve not done a survey, but I suspect the public perception of Saint George centres on two spurious roles; as a dragon slayer and as an inspiration for our troops.

Whether you believe in dragons, or not, this narrative has preChristian origins, and was only transferred to Saint George during English Crusades to the Holy Land (1095-1291). Moreover, much of Saint George’s perceived military role has less to do with his own exploits than the inspired writing of William Shakespeare (who was both born and died on Saint George’s Day).

English exhortations to Saint George in battle are most eloquent in Shakespeare’s play Henry V (written in 1599), which is centred on the English king’s battles in France in 1415 (part of the Hundred Years’ War; 1337-1453).

Shortly before the decisive battle of Agincourt, the English army was besieging the city of Harfleur, and (in Act III) Shakespeare has the English king tell his men: “Once more unto the breach,” even if they have to “close the wall with English dead.” Henry concludes by urging the troops “Follow your spirit, and upon this charge, cry God for Harry, England and Saint George.”

It’s unlikely Henry V actually said

anything similar (or why, indeed, English troops would feel especially empowered by a long-dead Roman soldier) but that is the perception.

Everyone believes Henry V was an unrivalled motivator.

Miners believe that facts should speak for themselves. A report published recently by BHP and Legal & General Investment Management (LGIM) concluded that the cumulative consumption of nickel and copper will have to quadruple and double, respectively, over the next 30 years if the Paris Agreement (to limit global warming to 1.5°C above pre-industrial levels) is to be achieved.

Readers of The Northern Miner know that modern life is fundamentally dependent on the metals, energy and chemicals that the natural resources sector provides. We know that this material needs to be supplied sustainably, affordably and at scale, and that rising standards of living and population growth point to increasing resource consumption. The resources industry is aware that we must also provide the material to reconstitute how the world produces energy.

The report by BHP and LGIM, entitled “The Energy Transition Dilemma,” starts with a warning, observing that having a common goal of limiting global warming (as set out in the Paris Agreement) does not mean there is a common or accepted path of how to get there.

The report stresses that nothing will be delivered if the supply of metals does not keep pace with the spectacular demands expected to be created by the needs of the energy transition.

The report argues that there are two clear roles for investors. First, engage constructively with the resources industry to help drive down operational greenhouse gas emissions. Second, mobilize the capital that will be required to ensure metal supply does not become an obstacle in the race to Paris.

The ‘Energy Transition Dilemma’ report concludes “the prize for reducing and ultimately eliminating the mining sector’s operational carbon footprint is large.”

As an indication of the scale of the prize, Wood Mackenzie recently calculated that the industry’s base metals capital expenditure bill to achieve a 1.5°C outcome is currently US$2 trillion.

The facts seem clear, but for far too many people the truth is not yet apparent. Perceptions of the industry have been fostered over many years, and are now getting in the way. TNM Dr. Chris Hinde is a mining engineer and the director of Pick and Pen Ltd., a U.K.-based consulting firm he set up in 2018 specializing in mining industry trends. He previously worked for S&P Global Market Intelligence’s Metals and Mining division.

COMPANY INDEX Albemarle . . . . . . . . . . . . . . . . . . . . . 8,10,15 AngloGold Ashanti . . . . . . . . . . . . . . . . . . 5 Argentina Lithium & Energy . . . . . . . . . 10 Asante Gold . . . . . . . . . . . . . . . . . . . . . . . . 3 Avalon Advanced Materials . . . . . . . . . . . 8 Barrick Gold . . . . . . . . . . . . . . . . . . . . . . .5,6 Bearing Lithium . . . . . . . . . . . . . . . . . . . . . 8 Canada Nickel . . . . . . . . . . . . . . . . . . . . . 10 Centerra Gold. . . . . . . . . . . . . . . . . . . . . .3,5 Cypress Development . . . . . . . . . . . . .10,11 Dundee Precious Metals . . . . . . . . . . . . . . 5 Eldorado Gold . . . . . . . . . . . . . . . . . . . . . . 5 Electra Battery Materials . . . . . . . . . . .7,15 Enertopia . . . . . . . . . . . . . . . . . . . . . . . . . . 10 FPX Nickel . . . . . . . . . . . . . . . . . . . . . . . . 11 Franco-Nevada . . . . . . . . . . . . . . . . . . . . . . 5 Generation Mining . . . . . . . . . . . . . . . . . . 6 Glencore . . . . . . . . . . . . . . . . . . . . . . . . .7,15 Gold Fields . . . . . . . . . . . . . . . . . . . . . . . . . 5 Graphite One . . . . . . . . . . . . . . . . . . 7,11,12 Hemlo Explorers . . . . . . . . . . . . . . . . . . . . 6

Kinross Gold. . . . . . . . . . . . . . . . . . . . . . .3,5 Lithium Chile . . . . . . . . . . . . . . . . . . . . . . . 8 Lithium Power International . . . . . . . . . . 8 Monumental Minerals . . . . . . . . . . . . . . . 8 Newcrest Mining . . . . . . . . . . . . . . . . . . . . 5 Nouveau Monde Graphite . . . . . . . . . . . 12 OceanaGold . . . . . . . . . . . . . . . . . . . . . . . . 5 Piedmont Lithium . . . . . . . . . . . . . . . . . . 12 Probe Metals . . . . . . . . . . . . . . . . . . . . . .6,16 Pure Energy Minerals . . . . . . . . . . . . . . . 10 Rio Tinto . . . . . . . . . . . . . . . . . . . . . . . . .7,14 Sandstorm Gold . . . . . . . . . . . . . . . . . . . . . 5 Sayona Mining . . . . . . . . . . . . . . . . . . .12,14 SQM . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8,15 Talon Metals . . . . . . . . . . . . . . . . . . . . . .7,14 Teck Resources . . . . . . . . . . . . . . . . . . . . . . 1 Torex Gold Resources . . . . . . . . . . . . . . . . 5 Triple Flag Precious Metals . . . . . . . . . . . 5 Wheaton Precious Metals. . . . . . . . . . . . . 5 Yamana Gold . . . . . . . . . . . . . . . . . . . . . . . 5 York Harbour Metals. . . . . . . . . . . . . . . . 16

GLOBAL MINING NEWS

THE NORTHERN MINER / APRIL 18—MAY 1, 2022

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Scotiabank speculates on next round of likely gold mergers M&A

T

| Kinross, Yamana, high on the list of 10 possible value-creating mergers

BY NAIMUL KARIM

he ongoing trend of mergers in the gold sector is expected to continue this year with companies like Kinross Gold (TSX: K; NYSE: KGC), Yamana Gold (TSX: YRI; NYSE: AUY; LSE: AUY), Centerra Gold (TSX: CG; NYSE: CGAU) and OceanaGold (TSX: OGC; ASX: OGC) “most likely” to participate in the latest round of consolidation, according to Scotiabank analysts.

In a report released on Mar. 29, entitled “Two to Tango: Looking for (Merger) Dance Partners in the Gold Space,” the bank’s researchers proposed a list of 10 combinations that it believes could create value for shareholders.

“While we think these proposed combinations make sense, we expect many of them won’t occur because all the stars need to be aligned for a deal to be reached,” said the report.

“That said, we believe Kinross Gold, Yamana Gold, Centerra Gold and OceanaGold are particularly likely to participate in major strategic transactions.”

The gold sector has seen at least eight notable consolidations since 2018, when Barrick Gold (TSX: ABX; NYSE: GOLD) and Randgold Resources announced an $18-billion all-share merger.

A merger between Barrick and Kinross, which could potentially create the world’s largest gold producer with 10 Tier 1 assets, is on top of the list. Kinross would own 14% of the

Production at Yamana Gold’s Jacobina mine in Brazil more than doubled between 2014 and 2020 to 177,000 oz. gold, with record production in each of the past four years. YAMANA GOLD

combined company and the merger could improve the company’s balance sheet, strained due to its acquisition of Great Bear Resources and its decision to sell operations in Russia.

For Barrick, the deal would add two more Tier 1 assets, Paracatu in Brazil and Tasiast in Mauritania, to its portfolio with a potential for a third in the Dixie project in Ontario’s Red Lake mining district. The last project would increase its presence in Canada, where the company’s CEO, Mark Bristow has said Barrick is underinvested.

“After suspending operations at its Russian assets, we expect [Kinross] to make a strategic pivot,” the report said. “The company could be an

attractive target for other senior producers (particularly because of its low valuation and multiple Tier 1 assets).”

The report also explores a merger between Kinross and Yamana, with the former owning 57% of the combined company. Scotiabank analysts say this “could create a leading Americas-focused senior producer with strong growth and exploration upside in Canada.”

The merger would leverage “existing assets in South America (Chile/ Brazil) and North America (Canada) to create a top-five global gold producer” with a yearly production of more than 3 million oz. gold at about US$1,150 per oz. all-in-sustaining

costs, said the report. The merger though could be dilutive to Kinross on most financial metrics and would add some Africa exposure to Yamana shareholders.

“We think Yamana Gold could be attractive to multiple suitors because of its clean, Americas-focused portfolio, including a growing presence in Canada; it is one of very few midtier companies to hold a world-class gold asset (50% stake in Canadian Malartic),” said the report.

The analysts also find potential for a merger between Yamana and Newcrest Mining (TSX: NCM; ASX: NCM) as that would help Newcrest, which would own 76% of the merged entity, achieve its strategy of growing in the Americas by adding up to four Tier 1 assets from Canada, Brazil and Chile to its portfolio.

The deal, however, could be dilutive to Yamana shareholders on several financial metrics and may need a premium.

A merger between Centerra and Eldorado Gold (TSX: ELD; NYSE: EGO), in which Centerra would own 51% of the company, could create a “low-cost, long-life portfolio in North America and Europe.”

There could also be “potential synergies from overlapping geographies” since the key assets of both companies are located in Turkey and Canada. Centerra could also deploy its “excess cash” in the construction of Eldorado’s Skouries project in Northern Greece.

Centerra is “cash-rich but lacks significant near-term growth and there-

fore could look for potential partners that provide additional growth that it could help to fund,” said the report.

The company recently announced a resolution to its dispute with the Kyrgyz government regarding the Kumtor mine.

The report also links Centerra with OceanaGold as the merger could create “a sustainable mid-tier producer with a very strong cash-rich balance sheet.”

The combined company could benefit from a higher strategic profile with six operations and a strong balance sheet, potentially translating into higher valuations, analysts said.

Other potential merger combinations include: Gold Fields (NYSE: GFI) and AngloGold Ashanti (NYSE: AU); Franco-Nevada (TSX: FNV) and Wheaton Precious Metals (TSX: WPM; NYSE: WPM); Triple Flag Precious Metals (TSX: TFPM) and Sandstorm Gold (TSX: SSL; NYSE: SAND); Torex Gold Resources (TSX: TXG) and Dundee Precious Metals (TSX: DPM); and OceanaGold and Dundee.

All the mergers explored in the list have been considered as zero-premium deals since analysts believe they are more likely to generate positive value. Of the eight notable mergers since 2018, the share price returns for the zero-premium deals were higher than those deals that involved a premium.

“It is often difficult for acquirers to generate enough value from synergies to overcome upfront premiums paid,” said the report. TNM

www.northernminer.com

Investments from autocratic states need full ICA review: Parliamentary committee REGULATION

A

BY NAIMUL KARIM

ll investments made by firms from authoritarian regimes should undergo the complete security review process outlined in the Investment Canada Act (ICA), according to a new parliamentary committee report. The Mar. 29 report, published by the standing committee on industry and technology, came to that conclusion after analyzing the recent acquisition of Canadian-listed Neo Lithium by China’s Zijin Mining.

While all foreign investments undergo a preliminary national security screening by Canadian authorities, if an investment raises a national security concern, the industry minister can recommend a national security review under section 25.3 of the ICA. Neo Lithium’s acquisition, which closed in January, was criticized as the deal wasn’t further reviewed.

“The committee believes that all investments by state-owned enterprises from authoritarian states meet the threshold of ‘could be injurious to national security’ under section 25.3,” said the report. “The minister should use his discretion to invoke that section in all such cases.”

Zijin completed its acquisition of Neo Lithium, which owned the Tres Quebradas lithium brine project (known as the 3Q project) in

| Recommendation comes after review of Neo Lithium takeover by Chinese miner

Argentina, on Jan. 26. The $6.50 per share all-cash offer was announced in October.

The 3Q project hosts measured and indicated resources of 5.3 million tonnes of lithium carbonate equivalent at an average grade of 636 mg/l lithium.

As the deal neared completion, former Conservative Party leader Erin O’Toole on Jan. 17 asked the federal government to conduct a national security review. O’Toole said the review was critical for Canada to safeguard its supply and access to critical minerals, to protect its economy, and to ensure that Canadian mining companies stay ahead of their competitors.

In response to O’Toole’s comments, Laurie B. Bouchard, a spokesperson for Science and Industry Minister François-Philippe Champagne, told The Northern Miner on Jan. 18 that all foreign investments are subject to review and that critical minerals receive “special scrutiny” by the Investment Review Division.

“Every investment is reviewed on its merits,” said Bouchard. “Considerations can include… the nature of the mineral deposits involved and its role in critical Canadian supply chains, as well as the nature of the Canadian business and whether it has operations in Canada. For example, whether it is principally domiciled here for regulatory or

Russian President Vladimir Putin held talks in Beijing before the Winter Olympics with Chinese President Xi Jinping. PRESIDENTIAL EXECUTIVE OFFICE OF RUSSIA/WIKIMEDIA COMMONS (CC 4.0).

other reasons, with few local staff or assets.”

On Jan. 27, Innovation, Science and Industry Minister François-

Philippe Champagne told the House of Commons industry committee that the acquisition was “thoroughly reviewed and scrutinized,” saying:

“Let me be very clear. Neo Lithium was reviewed by the government and national security experts, full stop.

“Those who claim that a national security review was not done in [Neo Lithium’s] case… are cherry picking and jumping ahead to another step in the process further down the chain of verifications under the ICA,” he added.

Champagne also said that the 3Q project would not produce lithium hydroxide but lithium carbonate, a form of lithium that Canada will not be relying on for the growing demand of electric battery production. However, lithium carbonate can be converted to lithium hydroxide.

The parliamentary committee in its report further said that the government needs to “create a formalized and transparent process” that discloses a list of government departments and agencies consulted on decisions made under the ICA. The committee, which heard from independent experts prior to publishing the report, said that they spoke about the importance of “broader government policies and priorities” to support decisions taken under the ICA, including the timely release of a “full and comprehensive” critical minerals strategy.

The government isn’t legally bound to follow the recommendations made by the parliamentary committee. TNM

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WWW.NORTHERNMINER.COM

APRIL 18—MAY 1, 2022 / THE NORTHERN MINER

Probe Metals expands Monique gold deposit ahead of 2023 Val-d’Or East prefeasibility QUEBEC

| Deposit contains 39% of project’s measured and indicated resource

Hemlo Explorers’ Pic project, in Ontario. HEMLO EXPLORERS

Hemlo Explorers stock jumps 53% as Barrick weighs earn-in on Pic ONTARIO

| Project is 25 km west of

Barrick’s Hemlo mine

S

BY HENRY LAZENBY

hares in Hemlo Explorers (TSXV: HMLO) jumped more than 53% after the company revealed that it had entered a binding term sheet with Barrick Gold (TSX: ABX; NYSE: GOLD) that will give the gold major a right to earn up to 80% of the Pic project in Ontario.

Located 25 km west of Barrick’s Hemlo mine, Barrick will have to deliver to Hemlo Explorers a prefeasibility study within six years of signing the definitive agreement. Under the terms of the deal, Barrick will commit to spending at least $800,000 on the project in the first 12 months, followed by an annual commitment of at least $1 million.

Subject to a successful earn-in, the two companies will form a jointventure corporation owned 80% by Barrick and 20% by Hemlo Explorers.

If any party’s interest in the JV declines below 10%, it will convert to a 1% net smelter return royalty.

Both companies will work to complete the due diligence necessary to sign a definitive agreement by month-end.

The Pic project comprises 910 claims over 168 sq. km in the HemloSchreiber Greenstone Belt. The Hemlo camp is noted for hosting the Hemlo deposit, with more than 22 million oz. of gold historical production since 1985. It remains in operation at the Williams mine oper-

ated by Barrick.

The Pic project is said to host multiple intrusive related gold shear systems with significant occurrences at Wire Lake and Smoke Lake-Beggs Stock. Further, Porphyry, Contact and Page Lakes represent prospective areas showing litho-geochemical and soil sample anomalies with concurrent geophysical features favourable for gold mineralization.

For the 2022 field season, Hemlo Explorers will focus its exploration efforts on the area in the southwestern corner of the Pic project called Project Idaho. The company believes that the structural, geophysical and geological setting of Project Idaho resembles Generation Mining’s (TSX: GENM) Marathon palladiumcopper project 3 km to the west, which is now under development.

Barrick is making good on CEO Mark Bristow’s insistence that Canada remains a strategic cornerstone jurisdiction for the gold major, despite its only Canadian operation, Hemlo, falling outside its so-called Tier One asset strategy. Barrick defines a Tier One mine as one that produces in excess of 500,000 oz. of gold per year and has a life of at least 10 years.

Hemlo Explorers shares have continued to trade at elevated levels since the deal was announced on Apr. 4.

At press time, the junior’s shares traded at 20¢ apiece, giving it a market capitalization of $7 million. TNM

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BY NAIMUL KARIM

s it works towards a 2023 prefeasibility study for its Val-d’Or East gold project in Quebec, Probe Metals (TSXV: PRB; US-OTC: PROBF) has announced the final set of results from its 34hole drill program conducted last year at the Monique gold project on the property.

Highlights from the 29 drill holes completed as part of the expansion drill program about 500 metres southeast of the past-producing Monique open pit mine included: 8.1 metres grading 12.7 grams gold per tonne starting from 238.6 metres depth in hole MO-21-242; and 13.7 metres grading 1.9 grams gold starting from 138 metres in hole MO-21-237.

The company also said that it completed one-third of its 150,000metre drill program at the project designed to convert inferred resources at Val-d’Or East into indicated. Results of the 135 holes drilled so far this year are pending.

The company has nine drill rigs at Val-d’Or East, with seven of them located at the Monique project.

“Along with the previous results, we are seeing a shift towards thicker, higher-grade material as we continue to delineate the gold systems at

Drill rig on Probe’s Val-d’Or East project in Quebec. PROBE METALS

Monique,” said the company’s CEO David Palmer in a press release on Apr. 5. “We are advancing quickly with resource expansion, conversion and updating our current gold resource as we move the project towards its prefeasibility study.”

Located about 25 km east of Vald’Or, Monique is one of three pastproducing mines at the Val-d’Or East project. It began commercial production in 2013 and ceased in See PROBE / 16

METALS from 1

on Russian oil and gas, which could also support an acceleration in the energy transition, particularly in Europe. This reduction, in turn, will foster demand growth for certain metals used in electric batteries, such as copper, nickel and cobalt.

Moody’s expects this shift to support these base metals prices at high levels, while steel, coal and iron ore prices would probably moderate toward the medium-term price sensitivity ranges.

“At the same time, an extended military conflict would weaken economic growth over time. An extended conflict would, in turn, directly reduce industrial activity and demand for metal and steel, constraining further growth in commodity prices,” said Moody’s.

Meanwhile, Fitch Solutions Country Risk & Industry Research released three recent reports arguing the potential for the conflict to keep nickel and zinc prices high while flagging the potential for copper prices to moderate in the second half of 2022, despite maintaining a bullish longerterm outlook for the red metal.

In late March, Fitch revised its 2022 zinc price forecast higher by more than 20% to US$3,500 per tonne.

In a market commentary, Fitch argued that metal prices are being bolstered by the energy crisis stemming from the ongoing Russian invasion of Ukraine that has led to many smelters halting or reducing zinc metal production.

Zinc prices have rallied since 2020 over a long-standing mismatch between supply and demand, and despite global refined zinc output ramping up over recent months compared to 2020, it has been outpaced by demand.

Prices have averaged US$3,688 per tonne in the year to date and are currently hovering around US$4,069 per tonne. According to Fitch, at these

Russia’s contribution to total world production of key metals in 2021

levels, zinc is close to reaching its all-time high of US$4,442 per tonne achieved in 2006.

“Our 2022 price forecasts imply that we expect prices to stabilize and weaken from here in the coming months, despite remaining elevated compared to historical standards,” Fitch analysts said.

Similarly, Fitch said it expected the nickel price to consolidate in the US$30,000 to US$40,000 per tonne range over the current quarter before moving below US$30,000 per tonne by the end of the year.

“We have revised our nickel price forecasts significantly higher due to Russia’s invasion of Ukraine. We expect prices to average US$27,500 per tonne in 2022, compared with US$18,466 per tonne in 2021 and our previous forecast of US$17,000 per tonne,” said Fitch.

The Fitch Solutions price forecast for 2022 is markedly higher than the Bloomberg consensus at US$23,150 per tonne.

“Ultimately, Western sanctions on Russia mean that the supply outlook for nickel over the coming years has deteriorated.”

It added: “Nickel importers in the West are increasingly shunning Russia-origin metals, primarily due to risks of further sanctions, concerns

over the extent of sanctions recently announced, and reputational risks associated with deals with Russian entities while the crisis continues.

“More broadly, we note that shipping traffic near Russian ports has fallen by over 30% since the country invaded Ukraine and that the number of Russian-owned vessels looking for work has increased sharply,” said Fitch.

Meanwhile, Fitch revised upwards by more than 8% to US$10,000 per tonne its copper price outlook for 2022. It flagged persisting supply issues in Latin America, combined with positive investor sentiment towards metals due to the Russian invasion of Ukraine that have pushed prices to new historical highs.

“Our forecast still indicates that prices will ease slightly from current levels later in 2022 as supply improves and sentiment stabilizes,” said Fitch analysts in a commentary.

“Nevertheless, positive long-term investor sentiment towards the green metal will continue to place a floor under prices and prevent them from returning to levels seen before 2021.

Over the long term to 2031, we forecast the copper market will remain in deficit as consumption continues to outpace supply, driving prices higher amid the green transition.” TNM

SPECIAL FOCUS

BATTERY METALS DONTSTOP /ISTOCK

Miners welcome Biden’s Defense Production Act as ‘urgently’ needed BATTERY METALS

| Immediate impact to be limited, analysts say

Glencore to buy recycled nickel and cobalt products from Electra in 2023 ONTARIO

| Recycling facility is part of Electra’s

plans for an integrated battery metals park

G

U.S. President Joe Biden at Camp David on Feb. 12, 2022. THE WHITE HOUSE (WIKIMEDIA COMMONS)

BY NAIMUL KARIM

M

ining companies and analysts have described U.S. President Joe Biden’s decision to authorize the Defense Production Act to increase battery metals production and reduce the country’s reliance on China and Russia as an “urgent” move that provides “further proof” of the minerals’ growing importance in the geopolitical arena.

The act gives the president authority to prioritize the production of specific materials over others. It was invoked at least twice last year to increase production supplies linked to the coronavirus pandemic and raise firehose supplies to tackle the “unusually high occurrence” of wildfires in the United States.

“We are now seeing an urgent ‘whole of government’ approach to addressing both the current U.S. dependence on Russia and China for battery materials and the energy transition imperative,” said Henri van Rooyen, CEO of Talon Metals (TSX: TLO; US-OTC: TLOFF), in a release. Talon owns 51% of the Tamarack nickel joint-venture project in Minnesota, with partner Rio Tinto (NYSE: RIO; LSE: RIO).

Talon will supply Tesla with 165 million lb. of nickel over six years once the mine begins commercial production. The project has an indicated resource of 3.9 million tonnes grading 1.91% nickel and 1.02% copper, and 7.2 million inferred tonnes grading 1.11% nickel and 0.68% copper.

“President Biden’s action today makes clear that there is a bipartisan consensus that the battery material supply chain, from mine to recycling, is a national priority,” he added.

The demand for battery metals has increased globally as the world looks to meet its decarbonization goals by 2050. According to the World Bank, the supply of critical minerals needed for the energy transition is “more concentrated” geographically than fossil fuels. The

“THE BATTERY MATERIAL SUPPLY CHAIN, FROM MINE TO RECYCLING, IS A NATIONAL PRIORITY.” HENRI VAN ROOYEN CEO, TALON METALS

bank estimates half of the world’s battery metals to be concentrated in about three countries.

China is the world’s biggest producer of rare earths and controls about 85% to 90% of its rare earths processing, while Russia produces 6% of its aluminum and 7% of its mined nickel. The U.S. currently has less than 1% of the world’s mined lithium supplies and is highly dependent on imports for the metal.

Biden’s directive will specifically be authorized to support the production and processing of minerals used for large capacity batteries such as lithium, nickel, cobalt, graphite, and manganese, a White House statement said on Mar. 31.

Graphite One (TSXV: GPH; USOTC: GPHOF), which is currently developing an integrated project that aims to mine and process graphite at its Graphite Creek property in Alaska, said the move “validated” the company’s strategy of creating an integrated supply chain for the material in the U.S. “Graphite joins a select group of ‘super-critical minerals’ that are essential to commercial technology and national security applications,” the company’s CEO Anthony Huston said in a press release.

According to analysts, Biden’s move provides “further evidence” of governments looking to exert control on battery raw material value chains. China dominates this market in many of the critical stages.

“While funding may be easier, and this may accelerate the installation of refining and processing assets for critical materials, we still

expect that permitting new mines will prove challenging, which may be the weak point in the wider strategy,” BMO Capital Markets mining analyst Colin Hamilton wrote in a research note to clients on Mar. 31.

Economist Patricia Mohr told The Northern Miner that while the move was necessary, she forecasts the immediate impact to be limited.

The independent analyst and founder of the publication Critical Metals for a Sustainable World, expects a majority of the funding from Biden’s move to support feasibility studies and productivity modernization rather than actual mine development.

“The recent war in Ukraine has increased awareness of the vulnerability of the United States to importing such a large amount of the ‘critical minerals’ needed for electrification and decarbonization,” added Mohr, a former vicepresident of Scotiabank. TNM

BY NAIMUL KARIM

lencore (LSE: GLEN) has agreed to purchase nickel and cobalt products for a year from a battery recycling plant that’s poised to go online in 2023 as part of Electra Battery Materials’ (TSXV: ELBM; US-OTC: ELBMF) battery materials park project, situated in Cobalt, Ont. The agreement covers the 20232024 production of the metals, which will be produced from the refining of black mass feed generated from lithium-ion batteries.

Black mass refers to the powdery fraction that’s produced after cells from used batteries are crushed.

Electra is also in talks to supply lithium, copper and graphite to other firms, the company said.

“Right now, they (Glencore) are by far the absolute giants in the recycling space,” Electra’s CEO Trent Mell told The Northern Miner on Apr. 6. “When you look at battery recycling today, it’s portable electronics: cell phones, laptops, etc. Glencore is the absolute dominant player there… so I think it’s great to have a partner like that.”

Electra is building an integrated battery materials park that will host cobalt and nickel sulphate production plants, a large-scale lithium-ion battery recycling facility, and battery precursor materials production. Electra also owns the advanced exploration-stage Iron Creek cobalt-copper project in Idaho.

In December, the company aims to complete construction of its

$84-million battery grade cobalt refinery. The second phase of the integrated facility would see a battery recycling circuit scheduled for 2023, followed by the battery grade nickel sulphate and precursor cathode active materials (PCAM) plants sometime mid-decade.

In February, Electra partnered with Glencore, Talon Metals (TSX: TLO) and the Ontario government to assess the potential of creating a battery materials park in northern Ontario. Based on the deal, the provincial government would contribute $250,000, a sum to be matched

by Electra. Glencore and Talon would each provide $100,000. The study could help expedite the building of the battery materials park.

Recycling facility Electra has links with more than 30 black mass suppliers and expects to work with them to source feed for the recycling facility. Initially, the company expects to process about 4,500 tonnes of black mass, the equivalent of recycling batteries from more than 20,000 electric vehicles per year.

Over the next decade, the company expects to build more capacity as market demand for processing of black mass grows.

Studies have projected that the recycling of lithium-ion batteries, used in EVs, won’t take off before 2030 due to the lack of recyclable feedstock. Mell believes that Electra can tackle this issue through its modular approach.

See ELECTRA / 15

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8

APRIL 18—MAY 1, 2022 / THE NORTHERN MINER

SPECIAL FOCUS BATTERY METALS

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Avalon partners with India’s Essar Group to build Ontario lithium refinery LITHIUM

| Thunder Bay facility

will accept concentrates from pegmatite projects in Ontario’s North

Employees at the Soquimich (SQM) lithium mine on the Atacama salt flat. SQM.

Chile strives to meet lithium challenge LITHIUM

| Sustainability under scrutiny as demand for energy metal grows

BY TOM AZZOPARDI

A

Special to The Northern Miner

s lithium prices soar to record levels, interest is growing in Chile’s potential as a supplier of the energy metal, but Cold War-era regulations and a new left-wing government could limit opportunities.

Based on its natural attributes, the South American country should lead the world in lithium production. The country’s salt flats, including the Salar de Atacama, which contains a quarter of global reserves, offer almost perfect conditions for extracting the mineral, with lithium grades almost double those found in other salt flats and dry and windy conditions that favour evaporation.

However, the country is the world’s second largest lithium producer. Lithium’s designation under

Chile’s mining laws as a strategic mineral — requiring companies to seek special authorization from the state to produce it — has slowed development and it has lost ground to rival producers in Australia and across the Andes in Argentina.

Following the renegotiation of their lease contracts four years ago for claims on the Salar de Atacama, Chile’s two producers — U.S.based Albemarle (NYSE: ALB) and local firm SQM (NYSE: SQM) — have been investing heavily to boost production. Production capacity should reach 270,000 tonnes annually as new facilities are brought onstream later this year, a fivefold increase from just six years earlier.

Last month, SQM announced a new US$250-million investment to expand its production capacity by another 30,000 tonnes year of lithium carbonate plus 10,000 tonnes per year of lithium hydroxide.

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But even with these expansions, Chile is struggling to maintain its share of a global lithium market, which is expected to reach 1 million tonnes by 2025, up from an estimated 500,000 tonnes in 2021.

Despite the perfect conditions, increasing production from Salar de Atacama could be challenging.

As well as the production quotas set in the lease contracts, producers face increased scrutiny from local communities and international clients about the sustainability of their operations.

In 2019, Chilean authorities stepped up monitoring of the salt flat to assess the impact of lithium production on flora and fauna and local water supplies.

Earlier this year, they presented charges against Albemarle for pumping too much brine and failing to implement emergency measures when water levels fell. The company could face fines up to US$5 million. (The country has also brought environmental charges against copper producers.)

To convince clients of the sustainability of Chilean lithium, both Albemarle and SQM are making huge efforts to reduce their environmental impact. SQM says it will halve the volume of brine it pumps from the salt flat by the end of the decade without cutting production, while also cutting freshwater consumption and reducing carbon emissions.

Both companies’ dependence on state contracts is another issue, especially for SQM whose lease expires in 2030, says Daniel Jimenez, an industry consultant. With Chile’s new president Gabriel Boric looking to increase state participation in the industry, management may be wary of making further investment until they have clarity about future lithium policy.

With dozens of salt flats dotting Chile’s northern Andes, other companies are looking at opportunities to produce lithium. But none looks close to starting production.

In 2018, the government granted state copper firm Codelco authorization to produce lithium from the Salar de Maricunga, Chile’s third largest salt flat.

With management focused on Codelco’s massive investment program to overhaul its aging copper operations, the relatively small opportunities offered by lithium have not until now been a priority.

However, in February, the company announced that it would begin See CHILE / 15

Avalon Advanced Materials has reached an agreement with Essar Group to jointly fund a lithium refinery in Thunder Bay, Ont. AVALON ADVANCED MATERIALS

BY HENRY LAZENBY

O

ntario’s strategic push to establish a fully integrated lithium-ion battery supply chain got a massive boost in early April, after Avalon Advanced Materials (TSX: AVL) reached an agreement with India-based Essar Group to fund and provide development support for a lithium refinery in Thunder Bay. Avalon and Essar Group company RenJoules International have partnered to co-develop a regional lithium battery materials supply chain. It is intended to serve the needs of future electric vehicle and battery manufacturers in Ontario and North America. The news sent Avalon shares nearly 47% higher to 22¢ apiece.

Avalon said in a news release that the new refinery would accept future production from its flagship Separation Rapids lithium project near Kenora and be able to take concentrates from other developers of northwest Ontario’s lithium pegmatite resources.

Avalon has established a new subsidiary, Avalon Lithium, in which Essar will become a co-owner.

The next steps entail finalizing initial commercial terms and completing final feasibility studies for both the refinery operations and lithium mineral concentrate production at the Separation Rapids site that will provide the initial feed for the refinery until other new producers also get started. This will also include finalizing the exact location of the refinery.

According to Avalon, the refinery could support 20,000 tonnes per year of lithium hydroxide and/ or carbonate production at a capital outlay of about $500 million.

Avalon and Essar plan to fund the refinery’s development jointly, with additional funding support expected to come from government programs and private investors, including Indigenous businesses in northern Ontario.

Should construction start this year, the plant could begin operations by 2025.

Demand for lithium hydroxide and carbonate continues to grow in

A petalite sample from Avalon’s Separation Rapids lithium project near Kenora, Ont. AVALON ADVANCED MATERIALS

North America as new electric vehicle and battery manufacturing capacities are established in the U.S. and Canada.

Ontario is now well-positioned to take advantage of the rapid growth with the recent announcement of Ontario’s first-ever Critical Minerals Strategy. Premier Doug Ford described the plan as “the government’s blueprint to connect industries, resources and workers in our province’s north to the future of manufacturing in the south as we build up home-grown supply chains.”

Ontario’s rich endowment in critical minerals in the North uniquely positions the province to establish an integrated supply chain and take advantage of the wall of demand for critical minerals in the economy’s emerging new advanced manufacturing sector.

Avalon president Don Bubar commented that while electric vehicle manufacturing and lithium battery materials production could be the initial catalyst for starting critical minerals supply chains in the North, it was, according to him, just the beginning. “New products and new efficient processing technologies for other critical minerals such as tantalum, cesium, and rare earths, can inspire future growth into other areas of advanced manufacturing, including aerospace technology,” he said.

At press time, Avalon shares traded at 22¢ per share, giving the company a market capitalization of $84.8 million. TNM

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THE NORTHERN MINER / APRIL 18—MAY 1, 2022

9

JOINT VENTURE ARTICLE

Lomiko Metals’ La Loutre graphite project in Quebec. LOMIKO METALS

Lomiko Metals sets its sights on supplying minerals critical for a green energy future

BY NORTHERN MINER STAFF

Lomiko Metals (TSXV: LMR; US-OTC: LMRMF) has ambitions to become a billion-dollar company, says Gordana Slepcev, the company’s chief operating officer.

The Canadian junior is exploring for graphite and lithium — critical materials needed for the global transition to a greener energy future.

Both graphite and lithium are used in the lithium-ion batteries in electric vehicles (EVs) and are essential to North America’s expanding EV market and green energy sector.

Lomiko’s current focus is on its 100%-owned flagship La Loutre graphite project in southeastern Quebec, about 180 km northwest of Montreal.

The project “has the potential to provide low-cost, high-quality natural graphite needed to make spherical graphite for the anodes of lithium-ion batteries,” Slepcev said.

“La Loutre is close to major industries along the east coast of North America and is less than 200 km from the port of Montreal, perfectly positioning it to supply graphite for EV supply chains in North America and Europe.”

According to forecasts by Benchmark Mineral Intelligence, demand for graphite from the battery sector is expected to rise 30% annually over the next decade.

However, the market analyst said it expects a global graphite deficit starting in 2022 that would grow to 8 million tonnes by 2040.

The 28.7-sq.-km La Loutre property lies in the middle of several other graphite projects in a mineralized area called the Grenville Trend.

These include the Lac-des-Îles mine and mill, the only graphite mine currently operating in North America, about 50 km northwest of La Loutre, that was acquired by Northern Graphite (TSXV: NGC; US-OTC: NGPHF) from Imerys Group in December; and the Matawinie graphite project, owned by Nouveau

Core from the Battery zone at La Loutre. LOMIKO METALS

Monde Graphite (TSXV: NOU; US-OTC: NMGRF), approximately 100 km to the northeast.

Slepcev says that La Loutre benefits significantly from existing infrastructure and great geology.

“It is easily accessed via highways, is powered by inexpensive, lowcarbon hydroelectricity, and we believe we can develop a modern, environmentally responsible critical minerals operation in the region.”

Graphite at the project occurs at two mineralized zones: the Electric Vehicle zone and the Battery zone, approximately 400 metres to the south of Electric Vehicle. To date, Lomiko has drilled 49 holes (6,942 metres) on Electric Vehicle and 62 holes (8,218 metres) on Battery.

A preliminary economic assessment for La Loutre in August 2021 envisioned an open-pit mine producing 97,400 tonnes of graphite concentrate over a 15-year mine life for a total life-of-mine production of

Core from the Electric Vehicle zone at La Loutre. LOMIKO METALS

1.4 million tonnes of graphite concentrate. All-in sustaining costs are expected to average US$406 per tonne of graphite concentrate over the mine’s life.

Initial capital costs were pegged at $236.1 million, with $37.7 million budgeted for sustaining capital over the mine life. The study estimated the after-tax net present value to be $185.6 million, based on an 8% discount rate and US$916 per tonne of graphite concentrate, with an after-tax internal rate of return of 21.5%, and a payback period of just over four years.

The early-stage study was based on 23.2 million indicated tonnes grading 4.51% graphite for 1 million tonnes contained graphite and inferred resources of 46.8 million tonnes grading 4.01% graphite for 1.9 million tonnes graphite. The mineral resource estimate used a cut-off grade of 1.5% graphite.

The study “positions La Loutre as a potentially very profitable mine,

particularly given the expected rises in graphite prices,” said Slepcev.

“The operation will also be an environmentally responsible mine that will dry the tailings and co-dispose of them with the waste rock instead of using a traditional tailings storage facility.”

Further drilling on the project, she added, “will increase the quality of the mineral endowment and upgrade the resources to the measured and indicated category.

We are now carrying out permitting for a planned exploration program and expect to release an updated resource estimate in the fall of this year.”

Lomiko plans to conduct 18,700 metres of drilling comprising 114 infill holes (16,700 metres) and 13 extension holes (2,000 metres) along strike to confirm the shape and extent of the orebody. The drilling is expected to start in the first half of this year.

“Following the drilling and

resource upgrade, we will start a prefeasibility study on the project that we expect to complete by the second quarter of 2023 and will include plans for a carbon-neutral mine,” Slepcev said.

The company, she continued, currently has about $3.8 million in the treasury and recently raised $3.6 million in private placements “so is well-funded to complete our planned work program for this year.”

Lomiko’s other asset is the 102.5-sq.-km Bourier lithium property in the James Bay region of Quebec, about 450 km northeast of Val-d’Or. Under an earn-in agreement with Critical Elements Lithium (TSXV: CRE; US-OTC: CRECF) signed in April 2021, Lomiko has the right to earn an initial 49% interest in Bourier by paying $50,000 in cash, issuing 5 million common shares of Lomiko to Critical Elements Lithium, and spending $1.3 million on exploration, of which $550,000 was to be incurred or funded by Dec. 31, 2021.

In January, an amendment to the agreement allowed Lomiko to carry forward and add a shortfall of $251,772 to exploration expenditure in 2022 in addition to the $750,000 that the company is required to incur or fund by Dec. 31, 2022.

Once completed, Lomiko will then have the option to increase its interest in Bourier from 49% to 70% by paying an additional $250,000 in cash, issuing a further 2.5 million common shares, and spending $2 million on exploration.

Critical Elements Lithium will retain a 2% net smelter return (NSR) royalty on Bourier, of which Lomiko can purchase 1% for $2 million. Critical Elements will remain as project operator while Lomiko completes its earn-in.

The preceding Joint-Venture Article is PROMOTED CONTENT sponsored by LOMIKO METALS and produced in cooperation with The Northern Miner.

Visit www.lomiko.com for more information.

10

APRIL 18—MAY 1, 2022 / THE NORTHERN MINER

SPECIAL FOCUS BATTERY METALS

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BATTERY METALS SNAPSHOT: EIGHT COMPANIES DEVELOPING MINERALS CRITICAL FOR A LOW-CARBON FUTURE

BY CARL A. WILLIAMS

As the world transitions away from fossil fuels to electrified transportation systems and energy networks, new deposits of the minerals required for a low-carbon future will need to be discovered and developed. Here is a list of eight companies exploring for these minerals, which include lithium, cobalt, graphite, and nickel. n ARGENTINA LITHIUM & ENERGY Argentina Lithium & Energy (TSXV: LIT; US-OTC: PNXLF) is a lithium explorer with assets covering over 670-sq.-km in Argentina’s Salta and Catamarca provinces, including the Rinco West, Pocitos, Antofalla North, and Incahuasi lithium brine projects.

The properties lie within the famed Lithium Triangle of South America, an arid region of the Andes mountains encompassing parts of Argentina, Bolivia, and Chile. The region produces about half of the world’s lithium and hosts approximately 60% of known reserves.

According to Argentina Lithium, all four properties are close to critical infrastructure and can be accessed year-round via an existing road network.

The company recently acquired a 100% interest in Rincon West and Pocitos.

In March, Argentina Lithium commenced an advanced geophysical imaging survey of the 24.7-sq.km Rincon West property, located in the Salar de Rincon in Salta province. It said the planned 40-line-km of deep-seeing transient electromagnetic (TEM) sounding survey

A drill rig at Graphite One’s Graphite Creek project in western Alaska. GRAPHITE ONE

would image the sub-surface of the basin and facilitate target definition for an approximate five-hole follow-up drill program, slated to start in the second quarter.

“Acquiring advanced sub-surface resistivity data at the project will provide vital information on the lithium potential and extent of brine within the property,” said Nikolaos Cacos, Argentina Lithium’s CEO. “With these data in hand, we expect to quickly move to drill test-

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ing the project to validate the targets, and to assess grade and estimates of brine content of the host formations,” he added.

This year, the company also plans to conduct a 35-line-km TEM survey of Antofalla North, located less than 20 km west of Argentina’s largest lithium producing operation at the Salar de Hombre, and an approximate three-hole followup drill program on the property; a 50-line-km TEM survey of Pocitos; and a 50-line-km TEM survey of Incahuasi.

Argentina Lithium & Energy has a market capitalization of $33.6 million. n CANADA NICKEL Canada Nickel (TSXV: CNC; USOTC; CNIKF) is advancing the next generation of high-quality nickel-cobalt projects.

The Toronto-headquartered junior’s focus is on its 100%owned Crawford nickel-cobalt sulphide project in the TimminsCochrane mining camp of northeastern Ontario, approximately 42 km north of Timmins.

The company’s flagship property benefits from access to regional infrastructure, including power, water, and rail connection, and is also bisected by a paved highway that offers year-round access. It also benefits from a nearby skilled workforce.

A preliminary economic assessment (PEA) for Crawford in May 2021 outlined a conventional open-pit mine and mill operation with a 25-year mine life and average annual production of 75 million lb. of nickel, 860,000 tonnes of iron, and 59,000 tonnes of chromium. The total life-of-mine output is 842,000 tonnes of nickel, 21 million tonnes of iron, and 1.5 million tonnes of chromium.

All-in sustaining costs (AISCs) are expected to average US$1.94 per lb. of nickel on a byproduct basis over the life of the mine. The PEA estimated an initial capex of US$1.9 billion, with US$3 billion budgeted for sustaining capital over the life of the mine. The resulting after-tax net present value was US$1.2 billion, using an 8% discount rate and US$7.75 per lb. of nickel, US$1.04 per lb. of chromium, and US$290 per tonne of iron. The internal rate of return was estimated at 16%.

The early-stage study was based on measured and indicated resources of 653.5 million tonnes grading 0.26% nickel, 0.6% chromium, 6.58% iron, and 0.013% cobalt for 1.7 million tonnes contained nickel, 3.9 million tonnes chromium, 43 million tonnes iron, and 85,200 tonnes of cobalt, and inferred resources of 497.2 million tonnes grading 0.24% nickel, 0.61% chromium, 6.74% iron, and 0.013% cobalt for 1.2 million tonnes of nickel, 3 million tonnes of chromium, 33.5 million tonnes of iron, and 63,900 tonnes of cobalt.

In November, Canada Nickel consolidated its land position in the Timmins area, completing 18 transactions that resulted in the outright acquisition or earn-in option on 13 additional properties within a 95-km radius of Crawford.

The company said that 10 of these properties have larger footprints than Crawford and nine contain the same host mineralization as Crawford.

Canada Nickel has a market capitalization of $289.6 million. n CYPRESS DEVELOPMENT Canadian explorer Cypress Development (TSXV: CYP; US-OTC: CYDVF) is focused on advanc-

ing its 100%-owned Clayton Valley lithium project in southwest Nevada, about 56 km southwest of the mining town of Tonopah.

The 22-sq.-km property sits immediately east of Albemarle’s (NYSE: ALB) Silver Peak mine, North America’s only lithium brine operation. It is also located adjacent to the Clayton Valley lithium project being developed by Pure Energy Minerals (TSXV: PE; US-OTC: PEMIF).

In February, Cypress announced that it had started a feasibility study for Clayton Valley lithium.

That same month, the company also consolidated its land position in the area, entering into a definitive purchase and sale agreement with Enertopia (US-OTC: ENRT) to purchase its Clayton Valley claystone project, immediately adjacent to Clayton Valley lithium.

Under the deal, Cypress will pay Enertopia US$1.1 million in cash and issue 300,000 common shares in Cypress to acquire 100% ownership of the project. The deal is expected to close in April.

An updated mineral resource estimate for the Clayton Valley lithium project in August 2020 estimated 926.6 million measured and indicated tonnes grading 1,062 parts per million (ppm) for 5.2 million tonnes of lithium carbonate equivalent (LCE).

The new resource included assays from an additional four drill holes not included in the calculations for a prefeasibility study (PFS) released in May of that year, the company said.

The PFS estimated the project could produce 27,400 tonnes of lithium carbonate equivalent (LCE) per year over 40 years of mine life. The production figures See SNAPSHOT / 11

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SNAPSHOT from 10

are based on a probable reserve of 213 million tonnes grading 1,129 ppm lithium for 240,900 tonnes of lithium (1.3 million tonnes LCE).

Initial capital costs stand at US$493 million, with operating costs averaging US$3,387 per tonne of LCE. The study estimated an after-tax net present value of US$1.1 billion at a discount rate of 8% and US$9,500 per tonne of LCE. The internal rate of return was pegged at 25.8% and the payback period at 4.4 years.

The mining plan in the study was based on an average mill feed rate of 15,000 tonnes per day. The extracted ore would then be transported to a nearby processing plant where it would be leached with dilute sulphuric acid leach, followed by filtration, solution purification, concentration, and finally electrolysis to produce lithium hydroxide.

Cypress said that metallurgical testing indicated that low-cost processing could be achieved by leaching with low-acid consumption and a high lithium recovery, with 80-85% projected recoveries.

Cypress Development has a market capitalization of $253.4 million. n FPX NICKEL FPX Nickel (TSXV: FPX; US-OTC: FPOCF) is a Canadian exploration company looking for nickel in British Columbia and the Yukon.

The Vancouver-based junior’s focus is on the Baptiste project, part of its 100%-owned, 245-sq.km Decar nickel district in central British Columbia. The project is located approximately 90 km north of Fort St. James and 530 km north of Vancouver.

According to FPX, Baptiste is the most accessible of four target areas in the district and has the most extensive known surface footprint.

In March, the company reported assays from a 10-hole summer 2021 infill drill program on the project, the first holes drilled on Baptiste since 2017. The drilling was designed to convert nearsurface inferred resources into the indicated category to support a preliminary feasibility study.

Highlights included drillhole 21BAP073, which returned the third-highest grading broad interval of near-surface nickel mineralization in the project’s history, intersecting 254.9 metres of 0.151% Davis Tube magnetically recoverable (DTR) nickel from 48.1 metres downhole, including 157.3 metres of 0.154% DTR nickel.

Hole 21BAP074, collared approximately 153 metres along strike of 21BAP073, returned 317.2 metres grading 0.135% DTR nickel from 33.8 metres, including 114 metres of 0.159% DTR nickel.

The company said that the drilling validated the block model used in a 2020 preliminary economic assessment (PEA) and potentially expanded higher-grade, near-surface DTR nickel mineralization at the deposit.

The PEA envisaged the mining of a total of about 1.5 billion tonnes of indicated and inferred material averaging 0.120% DTR nickel over a 35-year mine life, with approximately 89% of this mineralization in the indicated category and 11% in the inferred category.

The recent drill results follow up on results from initial drilling earlier in the year on the Van target, about 6 km north of Baptiste. The results defined a zone of strong awaruite nickel mineralization approximately 400 to 750 metres wide, up to 750 metres long, and to downhole depths of up to 350 metres. FPX believes the zone also has the potential to host a largescale, standalone nickel deposit similar to Baptiste.

A drill rig on the south-central part of the Clayton Valley lithium project. CYPRESS DEVELOPMENT

The company’s other properties in British Columbia include Orca, Wale, and Klow. It also holds a 100% interest in the Mich property in the southern Yukon.

FPX Nickel has a market capitalization of $171.7 million.

n GRAPHITE ONE Vancouver-headquartered Graphite One (TSXV: GPH; US-OTC: GPHOF) is focused on developing its 100%-owned Graphite Creek graphite project in Alaska’s Seward Peninsula, about 55 km north of

the city of Nome.

The company says Graphite Creek is the highest grade and largest known large flake graphite deposit in the U.S. Graphite flakes from the project will be used to produce high-grade

11

coated spherical graphite (CSG) for the anodes of lithium-ion batteries.

In March, Graphite One announced that Washington State would be the location for its advanced materials processing plant, which it said would bring battery anode production to the U.S. In April, the company announced a memorandum of understanding with Sunrise (Guizhou) New Energy Material, a Chinese lithiumion battery anode producer, to develop the facility, details of which will be included in a prefeasibility study slated for the second quarter.

While the plant would be engineered to accept multiple feedstocks required for anode production, the company said that Graphite Creek would be the anchor source for the facility.

The company also signed a nonbinding agreement in April with battery materials recycler Lab 4 to build a recycling plant for end-oflife electric vehicle (EV) and lithium-ion batteries in Washington state.

Last year, Graphite One completed a 2,052-metre drill program on its Graphite Creek project, including 1,695 metres of core drilling and 357 metres of sonic drilling. The drilling included infill See SNAPSHOT / 12

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APRIL 18—MAY 1, 2022 / THE NORTHERN MINER

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SNAPSHOT from 11

and stepout drilling in the resource area and additional geotechnical drilling at the proposed open-pit mine sites and infrastructure on the property.

According to a 2019 resource update, the project has measured and indicated mineral resources of 11 million tonnes grading 7.8% graphite for 850,534 contained tonnes of graphite. The inferred resource stands at 91.9 million tonnes grading 8% graphite for 7.3 million tonnes. The resource estimate used a cut-off grade of 5% graphite.

Drill results from the 2021 drilling campaign are expected to be released this quarter. Graphite One says the results will generate additional information to update the resource model and provide technical data which it expects to be available for use in the upcoming prefeasibility (PFS) study.

The PFS builds upon a 2017 preliminary economic assessment (PEA) that outlined plans for an open-pit mine at Graphite Creek that would produce approximately 60,000 tonnes of graphite concentrate annually over a 40-year mine life. The processing facility is expected to convert the concentrate into 41,850 tonnes per year of CSG, plus 13,500 tonnes of purified graphite powders annually.

The PEA estimated preproduction capital costs at US$363 million, including the construction of a processing facility and a manufacturing plant.

This year, Graphite One plans to start a feasibility study for Graphite Creek and conduct a drill program focused on infill and stepout drilling to increase the resource estimate.

Graphite One has a market capitalization of $163 million.

NOUVEAU MONDE GRAPHITE Nouveau Monde Graphite (TSXV: NOU; NYSE: NMG) is progressing the development of its whollyowned Matawinie graphite project in Saint-Michel-des-Saints, Que., n

The Baptiste nickel project, part of FPX Nickel’s Decar property in central British Columbia. FPX NICKEL

Core racks at Nouveau Monde Graphite’s Matawinie project in Quebec.

Taking measurements at Argentina Lithium’s project. ARGENTINA LITHIUM

about 120 km north of Montreal.

The company says it is taking a phased approach and is developing the project as a vertically integrated source of green, high-purity flake graphite for conversion to batterygrade graphitic material for the anodes of lithium-ion batteries.

According to Nouveau Monde, the Matawinie mine will be the world’s first open-pit mine to employ an all-electric fleet. The mine will also be powered by renewable hydroelectricity, potentially creating a carbon-neutral mining operation.

NOUVEAU MONDE GRAPHITE

In March, the company announced that it is advancing towards the final stages of the Phase 1 facilities build, with the construction of the coating line well underway. Once this last step is complete, it expects to commission a 2,000-tonne-per-year capacity integrated graphite production line of battery-grade anode material by the middle of the year.

In the same announcement, the company said it is also defining the updated economics model for Phase 2 of the process, and is currently engaging with potential customers and financial partners to support the delivery of full commercial-scale facilities.

A feasibility study for Matawinie in October 2018 envisaged a mining operation with an annual production of 100,000 tonnes of graphite concentrate over a 25.5year mine life at an initial capital cost of US$276 million. The resulting after-tax net present value was estimated at US$751 million at an 8% discount rate, with the internal rate of return estimated at 32.2%.

The initial capital costs would be paid back in 2.6 years.

An updated pit-constrained resource estimate in 2020 outlined 120.3 million measured and indicated tonnes grading 4.26% graphitic carbon (Cg) for 5.1 million contained tonnes. Inferred resources stand at 4.5 million tonnes of 4.43% Cg for 200,000 tonnes.

Nouveau Monde Graphite has a market capitalization of $476.8 million. n SAYONA MINING Australian lithium producer Sayona Mining (ASX: SYA; US-OTC: SYAXF) has assets in Quebec and Western Australia.

The company recently released an updated mineral resource estimate for its 100%-owned North American Lithium (NAL) and Authier projects in Quebec, doubling the previous resource estimates.

The JORC-compliant lithium

resource for the two projects now stands at 119.1 million combined measured, indicated, and inferred tonnes grading 1.05% lithium oxide (Li2O) for 1.3 million tonnes contained Li2O. Sayona says it is the first JORCcompliant resource estimate for the projects since it acquired NAL with its joint-venture partner Piedmont Lithium (ASX: PLL) in August 2021. Sayona acquired Authier in July 2016.

Meanwhile, the combined National Instrument 43-101 measured and indicated resource for the two projects grew to 87.8 million tonnes grading 1.05% Li2O for 919,900 tonnes of Li2O, with inferred resources of 31.2 million tonnes grading 1.07% Li2O for 334,200 tonnes of Li2O. The updated resource, the company said, represents the identification of the first underground constrained resources at NAL and takes advantage of the high-grade mineralization at depth. Combined with the inferred mineralization within the open-pit constrained estimate, this offers scope for further increases in NI 43-101-compliant resources, it said.

Sayona expects to complete a definitive feasibility study for an integrated NAL-Authier mining operation within the coming weeks.

In January, the company expanded its land position in northern Quebec by acquiring 121 new claims (known as the Lac Albert project) spanning 65 sq. km, about 3.5 km west of its Moblan lithium project, in which it holds a 60% interest with its joint-venture partner SOQUEM Inc. A planned 55-hole (9,000 metre) drill program is ongoing at the Moblan deposit. The drilling aims to identify extensions to the deposit and define mineralization in nearby spodumene pegmatites such as the Moleon prospect.

According to Brett Lynch, Sayona’s managing director, MobSee SNAPSHOT / 14

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TSX-V: LIT | OTC: PNXLF | FSE: 0AY2

ENERGY FROM EXPERIENCE Argentina Lithium & Energy Corp is focused on advancing high quality lithium projects towards production to meet the growing global battery sector demand. The management group has a long history of success in Argentina and has assembled a first rate team of experts to acquire and advance the best lithium properties in the world renowned “Lithium Triangle”.

www.argentinalithium.com

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SPECIAL FOCUS BATTERY METALS

APRIL 18—MAY 1, 2022 / THE NORTHERN MINER

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SNAPSHOT from 12

lan and Lac Albert are located in “a proven lithium mining district, with potential to become a significant northern growth hub for Sayona, adding to our Abitibi lithium hub in the south.”

The drilling campaign, expected to be completed shortly, demonstrates the company’s commitment “to further expanding our lithium resource base, further solidifying Sayona’s leading position in the North American lithium sector,” he added.

The company’s other asset is the Corkwood graphite project in the East Kimberley region of Western Australia.

Sayona Mining has a market capitalization of A$1.7 billion ($1.6 billion). n TALON METALS Talon Metals (TSX: TLO) aims to be a domestic source of low-cost nickel for the electric vehicle (EV) industry.

The U.S.-based company is advancing the Tamarack nickelcopper-cobalt project in which it owns 51% and Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) 49%. The 125.5-sq.-km property is located in central Minnesota, approximately 87 km west of Duluth, and comprises the Tamarack North and Tamarack South projects.

The company recently released assays from a drilling campaign on the CGO West area, about 100 metres northeast of the current resource area. The drilling, which extended over 400 metres, showed the presence of high-grade nickelcopper mineralization.

Talon Metals team in front of the core shed at the Tamarack nickel-copper-cobalt project in Minnesota. TALON METALS

Highlights included drillhole 21TK0355, which intersected 15.1 metres grading 4.88% nickel, 1.68% copper, 0.12% cobalt, 0.84 gram palladium per tonne, 0.69 gram platinum, and 0.16 gram gold (5.96% nickel-equivalent and 15.89% copper-equivalent) from 202.9 metres downhole.

In January, Talon signed its first U.S. deal to supply electric vehicle maker Tesla with 75,000 tonnes of nickel in concentrate over six years from the project. The agreement is conditional on Talon earning a 60% stake in Tamarack. To earn a 60% stake, Talon must complete a feasibility study on the project and

Powering the future!

Sayona Mining’s Mallina lithium project in Western Australia. SAYONA MINING

Canada’s Northwest Territories holds world-class potential to help reate the clean energy the world needs. Our wealth of battery minerals – rare earth elements, cobalt, nickel, lithium, copper, vanadium and graphite – can move us forward.

Let’s get connected and power the future.

The core shack at Canada Nickel’s Crawford project in Ontario. CANADA NICKEL • Low-risk investment jurisdiction*

• Wide range of early and advanced

stage projects seeking investment

• Modernized mining legislation in

progress to improve processes, increase certainty • Strong resident support and indigenous engagement in mining sector • New transportation infrastructure to improve access to mineral resources *4th of 85 jurisdictions - Mining Journal 2018 World Risk Report *4th of 85 jurisdictions - Mining Journal 2018 World Risk Report

NWTGEOSCIENCE.CA: E-mail: ntgs@gov.nt.ca T: 867-767-9211 Ext. 63469 NWTMINING.COM: E-mail: mining@gov.nt.ca T: 867-767-9209 Ext. 63160

pay Rio Tinto US$10 million.

A preliminary economic assessment (PEA) for the project in February 2021 envisioned a shallow underground mine amenable to bulk mining methods. The earlystage study outlined a mine life of nine years, with the first ore extracted within two years of construction. The study estimated that 10.8 million tonnes would be mined at 1.34% nickel (1.85% nickel-equivalent) at 3,600 tonnes per day.

The PEA noted that the company has the option of producing nickel sulphates for the EV market; nickel concentrates to be used for refined nickel powders for EVs;

and nickel concentrate for the stainless steel market.

Mineral resources at Tamarack stand at 3.9 million indicated tonnes grading 1.91% nickel, 1.02% copper, 0.05% cobalt, 0.41 gram platinum per tonne, 0.26 gram palladium, and 0.2 gram gold (2.62% nickel equivalent). Inferred resources add 7.2 million tonnes grading 1.11% nickel, 0.68% copper, 0.03% cobalt, 0.26 gram platinum, 0.16 gram palladium, and 0.14 gram gold (1.57% nickel equivalent). The resource estimate used a cut-off grade of 0.5% nickel.

Talon Metals has a market capitalization of $604.5 million. TNM

GLOBAL MINING NEWS

THE NORTHERN MINER / MARCH 21—APRIL 3, 2022

15

Filter presses installed at Electra’s cobalt refinery. ELECTRA BATTERY MATERIALS

ELECTRA from 7

“I think it depends on what you are targeting, how big you are going. If you are going to scale up nickel-rich EV batteries, it might be getting there too fast,” he said.

“For us, we are taking a modular approach; 4,500 tonnes of black mass per year is not a big share of the market. We are also targeting that portable electronic market.”

The company can scale up its operations once the “EV markets matter on the recycling side,” added the CEO. Before going commercial with the recycling plant in 2023, Electra plans to operate a demonstration plant in 2022 using existing equipment at a cost of $3 million.

The expects its hydrometallurgical refinery to provide higher yields at a lower cost and lower energy intensity compared to traditional facilities.

Cantor mining analyst Matthew O’Keefe described Electra’s deal with Glencore as positive. “This latest agreement with Glencore adds confidence in the addition of a battery recycling plant on-site,” he wrote in a research note to clients.

“Electra continues to make progress on developing its Battery Materials Park which will supply the North American automotive market with a secure, ethically sourced, domestic source of low-carbon raw materials for the production of EV batteries,” added O’Keefe.

At presstime in Toronto, Electra was trading at 31.5¢ per share within a 52-week trading range of 25.5¢ and 42.5¢. The company has 534.3 million common shares outstanding for a market cap of $168.3 million.

In preparation for a listing on the NASDAQ, Electra is planning an 18:1 consolidation of its shares in April. TNM

An aerial view of the brine pools and processing areas of the Soquimich (SQM) lithium mine on the Atacama salt flat. SQM

CHILE from 8

exploratory drilling to assess the potential of its claims at Maricunga.

The company plans to spend up to 10 months drilling the site.

Meanwhile, Minera Salar Blanco, a joint venture between Australia’s Lithium Power International (ASX: LPI) and Toronto-listed Bearing Lithium (TSXV: BRZ), is seeking to develop the Salar de Maricunga. Earlier this year, they completed a definitive feasibility study for a US$419-million project to produce 15,200 tonnes of lithium carbonate annually over 20 years.

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As the claims predate the restrictions on lithium production, LPI says the JV does not need approval from the Chilean state. The company now aims to obtain project financing by the end of this year to bring the facility in to production as soon as possible.

And in March, Monumental Minerals (TSX-V: MNRL) entered an option agreement with Lithium Chile (TSXV: LITH) to acquire up to 75% of its 52-sq.-km Salar de Laguna Blanca project, which it says could produce cesium as well as lithium.

A way forward for these projects opened up after former President Sebastián Piñera authorized two more companies to enter the lithium business in January this year.

After beating off rival bids from Albemarle and SQM, Chinese electric vehicle maker BYD and Chilean mining company Servicios y Operaciones Mineras del Norte SA won a contract that would allow them to produce around 424,000 tonnes of lithium carbonate each over a 30-year period.

BYD, which has supplied hundreds of buses to Santiago’s public transport system, said it planned to use decades of experience with lithium batteries to develop Chile’s lithium industry. But neither company has released details of where or how they plan to produce lithium.

As a result, it is likely to take them several years to find, explore and develop their lithium projects.

However, the awarding of the contracts has been suspended while the courts hear legal challenges from local communities who say the tender failed to take their interests into account.

National lithium company The future of these projects will depend on the decisions taken by Chile’s new government. President Boric, who took power in March, is enthusiastic about the opportunities that lithium offers the country.

Talk of nationalizing the industry during last year’s campaign has been replaced by talk of creating a national lithium company (in which private investors could participate) to produce the mineral and develop downstream industries to turn raw chemicals into battery components and other products.

Some in the industry are skeptical about the possibilities of developing high-tech industry so far from the battery megafactories in East Asia. A previous attempt in 2018 to attract manufacturers to develop downstream lithium industries with the promise of a guaranteed lithium supply failed after the market slipped suddenly from deficit into surplus.

The new authorities, including Mining Minister Marcela Hernando, have not yet signalled how they will treat non-state investment in lithium production, something that companies will be paying close attention to in the months ahead.TNM

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16

SPECIAL FOCUS GLOBAL GOLD EXPLORATION

APRIL 18—MAY 1, 2022 / THE NORTHERN MINER

WWW.NORTHERNMINER.COM

York Harbour gathers exploration momentum at its flagship base metals project NEWFOUNDLAND

| Highlights of drilling include 15 metres of 3.38% copper and 5.21% zinc

BY HENRY LAZENBY

W

ith the energy revolution ramping up at an unprecedented pace, the search is on to find and develop the next generation of critical metals deposits to feed into the approaching wall of demand.

One company making such progress is York Harbour Metals (TSXV: YORK; US-OTCPK: YORKF), which has completed more than 10,000 metres of diamond drilling at its namesake copper-zinc project in western Newfoundland. The work has underpinned a near-tripling in the value of the junior’s shares in 12 months.

The company, which signed an earn-in option on the York Harbour project last March, has since completed 64 drill holes, with more in progress.

“We had a checklist on the type of projects we were looking for, and at the top of our list were copper and battery metals. As luck would have it, this project rolled our way,” York Harbour president and CEO Andrew Lee told The Northern Miner in an interview.

The project is on the west coast of Newfoundland, about 27 km from the city of Corner Brook. “York Harbour is not a greenfields play and has good infrastructure with access to power, water, a deep seaport — it had everything we were looking for,” said Lee. “We were able to put together a fair option agreement, $3 million in expenditures over three years, but it looks like we did that in the first year,” he said. The optionor will retain a 2% net smelter return royalty, which the company can buy half of for a $1-million cash payment.

York Harbour has received assay results for all 38 holes from the Phase

The site of York Harbour Metals’ namesake copper-zinc project in western Newfoundland. YORK HARBOUR METALS

1 and 2 drill programs at the project. Current drilling has traced the deposit along about 450 metres of strike length to a depth of just 150 metres from the surface.

Executive chairman Bruce Durham said the drilling results indicate continuous mineralization in all directions, with 28, or 74%, of the 38 drill holes intersecting significant massive and/or semi-massive sulphide mineralization.

Among the latest drill highlights were drill hole YH21-19 with an exceptional intercept of 15 metres of 3.38% copper, 5.21% zinc, 18.53 grams silver per tonne, and 230 grams cobalt per tonne. Holes YH2131, YH21-32, and YH21-33 also returned notable intercepts within the southern ‘B’ Zone (Main Mine Zone South). YH21-31 returned 10 metres of 1.51% copper, 6.05% zinc,

32.3 grams silver and 170 grams cobalt from 141 metres depth; while hole YH21-32 returned 16 metres grading 1.13% copper, 5.01% zinc, and 25.13 grams silver from 139 metres.

In addition to the company’s completed drill campaigns, another four drill holes within the Main Mine Zone area returned high-grade copper and zinc intersections.

Brownfields opportunity The property had seen exploration and production efforts since 1893 when underground mining extracted copper-rich mineralization and directly shipped the handcobbed material to England and the U.S. for smelting.

Durham explains the project’s pervasive volcanogenic massive sulphide (VMS) mineralization occurs along and near the stratigraphic contact between Lower and Upper Basalt rock units, hosted by fragmental and tuffaceous basaltic volcanoclastic rocks.

According to the company, the mineralization is typical of mafictype, flow-dominated or Cyprustype VMS mineralization.

“This volcanic sequence has been interpreted as a synform, which is slightly overturned eastward,” said Durham. “The synclinal fold closes within the southern property boundaries owned by the company and trends north-north easterly across the Bay of Islands.”

https://soundcloud.com/northern-miner http://www.northernminer.com/tag/podcast/ PROBE from 6

­ ­ ­

2015. During that time, a total of 580,000 tonnes of mineralized material was extracted at a grade of 2.53 grams gold per tonne from surface to 100 metres depth for a total of 45,694 oz. gold.

The Monique property, which consists of 21 claims and one mining lease covering 5.5 sq. km., currently hosts a combined open pit and underground measured and indicated resource of 13.6 million tonnes grading 1.54 grams gold per tonne for 672,800 oz. of gold. Inferred resources add 11.7 million tonnes grading 1.78 grams gold for 671,400 ounces. The estimate used a gold price of US$1,600 per oz., a cutoff grade of 0.42 gram gold for pit-constrained resources, and a cutoff grade of 1.65 grams to 2.05 grams gold for underground resources.

The Val-d’Or East property, containing the Monique, Pascalis,

According to Durham, sulphide mineralization is characterized by massive to semi-massive lenses of chalcopyrite, sphalerite, pyrite and minor pyrrhotite with occasional oxide and supergene copper mineralization.

“The higher cobalt values are commonly associated with the more copper-rich mineralization while the silver values are spatially associated with copper- and zinc-rich mineralization. Drilling intercepts of VMS mineralization within the Main Mine area range from less than 1 metre, where stringer mineralization occurs, to 29 metres of VMS mineralization,” said Durham.

Previously, the 29-metre intercept in hole YH21-24 returned 5.25% copper, 0.8% zinc, 8.97 grams silver per tonne and 436.5 grams cobalt.

The true widths of the mineralization have not yet been established due to the varying dimensions of the mineralization and the need for more up and downdip information. Durham says some of the Phase 3 drill holes may provide that information.

Durham said past surface and underground exploration and development have resulted in identifying eleven zones of VMS mineralization along a 400-metre strike length.

“This moderately explored area represents a tiny portion of the estimated 18 kilometres of strike length along the eastern and western exposures of favourable stratigraphic con-

tact between the Upper and Lower Basalt units,” he said.

“Surface exploration work over the past 30 years by several operators has recognized the excellent property-wide exploration potential beyond the Main Mine area, but there has been little or no attention focused on drill testing the known geological, geochemical and geophysical anomalies along with the stratigraphic contact,” said Durham.

Courvan trends, covers 436 sq. km.

Based on a preliminary economic assessment released last year, the project could produce an average of more than 200,000 oz. gold annually over a 13-year mine life.

At a 5% discount rate, the project would generate a post-tax net present value of $598 million and an internal rate of return of 32.8%, using a gold price of US$1,500 per ounce. The study estimated the initial capital expenditure at about $353 million.

“Probe has generated strong results from Monique to date and the area contains 39% of the measured and indicated resource at Val d’Or East, a proportion that we would expect to grow in the next resource update after substantial Monique drilling,” wrote BMO Capital Markets mining analyst Andrew Mikitchook, in a research note to clients.

Barry Allan, a mining analyst with Laurentian Bank Securities,

described Probe’s latest drill results as positive and said that the program had a high “hit ratio.”

“Given the good success rate of drilling (high hit ratio), we expect the next resource to materially expand (+20%) from the existing 4.1 million ounces at 2 grams per tonne, of which 2.5 million ounces at 1.6 grams per tonne falls into an open-pit configuration,” Allan wrote in a note to clients.

Out of the 34 holes reported, five were designed to test the continuity of mineralization between two conceptual open pits located on the east margin of the known resource, suggesting these areas may be mined as one open pit, Allan added.

At press time in Toronto, Probe Metals was trading at $2.03 per share within a 52-week trading range of $1.37 and $2.33. The company has 145.3 million common shares outstanding for a market cap of $294 million. TNM

Tightly held York Harbour plans to continue drilling the 11 known mineralized zones and test other new VMS targets, like the No 4 Brook showing, while focusing on gaining access to the historical 4 Level and Sea Level adits. Permits for these areas are in progress, while the Phase 3 program will entail about 4,000 metres of drilling in 22 holes.

In March, the company increased its landholding in the region via staking to capture the western and southern limits of the existing mineral claims. The project area now totals 47.3 sq. km.

York Harbour only has about 48.8 million shares outstanding, with insiders and management holding about 45%. Eric Sprott was an early backer and continued to invest during capital raisings last year.

York Harbour’s shares have traded between 25¢ and $1.37 apiece, giving the junior a market capitalization of $50.2 million. TNM

e h

GLOBAL MINING NEWS

THE NORTHERN MINER / APRIL 18—MAY 1, 2022

17

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WWW.NORTHERNMINER.COM

APRIL 18—MAY 1, 2022 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / APRIL 4-8, 2022 Over the Apr. 4-8 trading period, the S&P/TSX Composite Index fell 211.25 points or 0.96% to 21,874.35. The S&P/TSX Global Mining Index increased 0.6 points or 0.46% to 129.58 and the S&P/TSX Global Base Metals Index fell 9.25 points or 4.1% to 221.74. The S&P/TSX Global Gold Index rose 8.03 points or 2.2% to 363.36 and spot gold ended the week US$11.1 per oz. or 0.57% higher, at US$1,941.40 per ounce.

Shares of Ascot Resources fell 15.2% to 95¢.

The company said it couldn’t satisfy the conditions required for it to receive the US$80 million funding it needed to develop its Premier gold project in B.C’s Golden Triangle. In December 2020, the company secured a senior credit facility with Sprott Private Resource Lending.

After drawing down an initial US$20-million tranche, Ascot was required to satisfy various conditions before accessing the remaining US$60 million. However, the company has been unable to reach an agreement with Sprott on the satisfaction of the drawdown conditions.

“Therefore, the initial US$20M drawdown will remain outstanding and Ascot will pursue alternative financing options,” the company said in a press release. Ascott said there may be a delay to the company’s target of beginning production in the first quarter of 2023.

Shares of Suncor rose 25¢ to $41.27. The

company announced that it was strengthening its focus on hydrogen and renewable fuels to accelerate progress towards its goal of reaching net zero by 2050, and plans to divest its wind and solar assets. “While Suncor is in the fortunate position of being long on opportunities, we are adjusting our portfolio for fit and focus,” said Mark Little, the company’s president and CEO. “By doing so, we use our strengths, competitive advantages and resources to drive shareholder returns and value over the long term and help us meet our emissions reduction targets.”

Moving forward, Suncor says it will continue to participate in various aspects of the electricity value chain, including producing power through its integrated cogeneration operations, through power marketing and trading, by providing TSX MOST ACTIVE ISSUES VOLUME (000s) HIGH

Suncor Energy Denison Mines Kinross Gold Fission Uran Barrick Gold Avalon Advance B2Gold Corp Teck Res Yamana Gold Lundin Mng

SU DML K FCU ABX AVL BTO TECK.B YRI LUN

28858 42.44 21195 2.30 19558 7.84 16828 1.09 16574 32.08 14702 0.24 13534 5.98 12522 53.31 11562 7.53 10652 13.35

WEEK LOW CLOSE CHANGE

39.93 1.93 7.13 0.86 30.40 0.15 5.66 47.83 7.08 12.19

41.27 2.21 7.81 1.04 31.94 0.21 5.85 51.57 7.39 12.74

+ + + + + + + +

0.25 0.17 0.25 0.12 0.73 0.06 0.05 1.28 0.16 0.03

customers with EV charging, and potentially procuring renewable power through power purchase agreements. Suncor will focus on replacing coke-fired boilers at its oilsands mining base plant with lower-emission cogeneration units. It will also accelerate commercial-scale deployment of carbon capture technology.

Shares of Endeavour Mining rose by $1.06 to $32.67. The gold miner said that it would soon launch the construction of its Sabodala-

Massawa gold expansion in Senegal, supported by a recently completed feasibility study.

The expansion project is expected to yield incremental production of 1.4 million oz. gold at an all-in sustaining cost of US$576 per ounce.

At a 5% discount rate, the study estimated that the project would generate a post-tax net present value of $861 million and an internal rate of return of 72%, using a gold price of US$1,700 per ounce. TNM TSX GREATEST VALUE CHANGE

TSX GREATEST PERCENTAGE CHANGE VOLUME (000s) HIGH

Augusta Gold Avalon Advance Pine Cliff En Xanadu Mines Goldgroup Mng Ascendant Res Trilogy Mtls Mandalay Res Mega Uranium Fission Uran Lithium Amer Ascot Res Nighthawk Gold Excelsior Mng Northcliff Res Silver Eleph Alexco Res Karnalyte Res St Augustine Western Potash

G AVL PNE XAM GGA ASND TMQ MND MGA FCU LAC AOT NHK MIN NCF ELEF AXU KRN SAU WRX

567 1.73 14702 0.24 8178 1.64 2353 0.04 1021 0.04 341 0.23 128 1.65 342 3.86 4271 0.39 16828 1.09 6641 50.42 9292 1.07 419 0.89 1694 0.38 53 0.05 171 1.27 1814 2.06 361 0.95 266 0.10 420 0.43

VOLUME (000s)

WEEK LOW CLOSE CHANGE

1.18 0.15 1.23 0.03 0.03 0.19 1.35 3.13 0.32 0.86 37.73 0.87 0.77 0.31 0.00 1.11 1.74 0.78 0.09 0.36

1.68 0.21 1.57 0.03 0.04 0.23 1.55 3.71 0.38 1.04 39.06 0.95 0.77 0.33 0.04 1.13 1.79 0.84 0.09 0.38

+ + + + + + + + + + -

44.8 40.0 26.6 20.0 16.7 15.0 14.8 13.8 13.6 13.0 19.9 15.2 13.5 13.3 11.1 11.0 10.9 10.6 10.0 9.5

Franco-Nevada Nutrien Agnico Eagle Filo Mg Corp Cameco Corp Teck Res Solaris Res Wheaton Prec Endeavour Mng SSR Mining Lithium Amer First Quantum Wesdome Gold Teck Res Largo Res Labrador IOR Victoria Gold Turquoise HIl Ivanhoe Mines Skeena Res

FNV NTR AEM FIL CCO TECK.A SLS WPM EDV SSRM LAC FM WDO TECK.B LGO LIF VGCX TRQ IVN SKE

1569 6602 6058 1641 7120 27 1362 4046 3448 1388 6641 7970 2225 12522 487 1025 1126 1146 4954 650

WEEK CLOSE

209.09 133.27 81.85 23.09 38.12 57.00 14.09 62.47 32.67 28.66 39.06 40.76 14.67 51.57 14.78 40.37 15.04 37.64 11.55 13.76

CHANGE

+ + + + + + + + + + -

4.33 3.47 2.71 1.98 1.79 1.43 1.37 1.34 1.06 0.86 9.72 3.66 1.40 1.28 1.00 0.93 0.92 0.71 0.61 0.54

TSX VENTURE EXCHANGE / APRIL 4-8, 2022 The S&P/TSX Venture Composite Index advanced 22.21 points or 2.6% over the Apr. 4-8 trading session to end at 888.21.

The week’s most actively traded stock was Pure Gold Mining, which declined 12¢ or 31.9% on 24.9 million shares traded to end at 25¢. In late March, the junior reported that it would need to raise $50 million within the next six months to continue operating its PureGold mine in Red Lake, Ont., and to service interest on its debt. On Apr. 8, it reported it had received notice of a civil lawsuit in British Columbia’s Supreme Court for allegedly failing to disclose information relating to its operations. The plaintiff in the action is seeking certification to proceed with a class action suit for “unspecified damages for losses incurred in their investments in the company,” Pure Gold said in a release. The company denies the allegations.

Westhaven Gold shares rose 58.1% or 25¢ during the week, ending at 68¢. On Apr. 6, the Vancouver-based junior reported its highestgrade intercept to date at its Shovelnose gold project, located 30 km south of Merritt, B.C. Drill hole SN22-212 returned 23 metres of 37.24 grams gold per tonne and 214.7 grams

silver per tonne. The hole is over 2 km from the heart of the South zone open pit resource, which Westhaven released in January. The South zone contains 10.6 million indicated tonnes grading 2.32 grams gold and 11.43 grams silver, plus 9.2 million inferred tonnes grading 0.89 gram gold and 3.47 grams silver.

The property is located in the emerging Spences Bridge Gold Belt.

Osisko Metals enjoyed a 38.8% bump to its share price over the week, ending at 59¢ per share. On Mar. 28, the company announced it had negotiated an option to acquire the Gaspé copper mine in Quebec from Glencore Canada. Osisko has agreed to make an upfront payment of US$25 million (to be paid by way TSX-V MOST ACTIVE ISSUES VOLUME (000s) HIGH

Pure Gold Mg First Cobalt Azincourt Ener Inomin Mines Walker River Arena Min Alphamin Res Anfield Energy GoviEx Uranium Three Valley

PGM ELBM AAZ MINE WRR AN AFM AEC GXU TVC

24917 11691 10810 10239 9579 7635 6379 6000 5780 5699

0.36 0.36 0.09 0.46 0.10 0.68 1.17 0.15 0.50 0.07

WEEK LOW CLOSE CHANGE

0.22 0.30 0.07 0.26 0.08 0.49 1.09 0.13 0.41 0.05

0.25 0.32 + 0.09 + 0.27 0.09 0.57 1.15unch 0.14 0.49 + 0.06 +

0.12 0.02 0.01 0.13 0.01 0.04 0.00 0.01 0.06 0.01

of a convertible note), plus US$20 million in cash upon the start of commercial production.

Osisko must also spend $5 million on drilling before the end of June. The company expects to release an initial inferred resource estimate for the past-producing Mount Copper deposit at the site by the end of the year. Gaspé Copper was a significant copper producer starting

in the 1950s up until the late 1990s. During that time, a total of 150 million tonnes of ore averaging 0.87% copper, with minor gold and silver credits, was extracted. The project produced 2.8 million tonnes of copper anode.

Osisko also holds the Pine Point zinc-lead project in the Northwest Territories, which it is advancing towards a feasibility study. TNM

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

Silver Valley Clydesdale Res Westhaven Gold Noble Metal Adex Mining Shine Minerals AurCrest Gold Osisko Metals CANEX Metals Juggernaut Exp Rackla Metals Alturas Min Lightspeed Dis Tymbal Res Inomin Mines Pure Gold Mg Jasper Mining Taranis Res Balto Res Eastfield Res

SILV CEO.H WHN NMG.H ADE SMR AGO OM CANX JUGR RAK ALT LSD.H TYMB MINE PGM JSP.H TRO BAL.H ETF

2593 0.33 54 0.10 4622 0.75 17 0.02 52 0.02 46 0.14 505 0.25 4817 0.60 2578 0.17 497 0.21 384 0.21 94 0.03 7 0.07 130 0.01 10239 0.46 24917 0.36 24 0.11 73 0.08 20 0.08 208 0.10

TSX-V GREATEST VALUE CHANGE

WEEK LOW CLOSE CHANGE

0.17 0.00 0.41 0.00 0.00 0.00 0.18 0.42 0.12 0.15 0.00 0.00 0.00 0.00 0.26 0.22 0.00 0.00 0.00 0.07

0.30 0.10 0.68 0.02 0.02 0.14 0.25 0.59 0.17 0.19 0.17 0.02 0.05 0.01 0.27 0.25 0.07 0.08 0.08 0.07

+ + + + + + + + + + -

84.4 81.8 58.1 50.0 50.0 40.0 38.9 38.8 37.5 35.7 58.0 40.0 37.5 33.3 32.9 31.9 30.0 27.3 27.3 26.3

VOLUME (000s)

Sigma Lithium IsoEnergy Ltd Itafos Tanqueray Expl Comet Inds NGEx Minerals Desert Mtn Egy Uranium Roylty Thesis Gold E3 Metals Nouveau Monde Rupert Res Universal Vent Highwood Asset Eloro Res American Lith Chesapeake Gld Arizona Metals Rock Tech Lith Leeta Gold

SGML ISO IFOS IPA CMU NGEX DME URC TAU ETMC NOU RUP MCLD HAM ELO LI CKG AMC RCK HIVE

368 910 1570 113 4 667 925 1097 676 760 549 734 40 0 558 2624 69 742 140 5619

WEEK CLOSE

21.47 5.46 3.75 7.13 3.95 3.51 4.01 5.48 2.42 2.70 8.03 5.61 4.90 10.50 4.60 3.79 3.25 6.30 5.57 2.34

CHANGE

+ + + + + + + + + + -

2.18 0.80 0.72 0.62 0.45 0.44 0.38 0.36 0.32 0.31 0.85 0.85 0.50 0.50 0.48 0.45 0.37 0.35 0.33 0.30

US MARKETS / APRIL 4-8, 2022 The Dow Jones Industrial Average fell 200.76 points or 0.57% to 34,721.12 and the S&P 500 fell 94.36 points or 2.1% over the week to 4,488.28.

Shares of Gatos Silver rose 6.3% to US$4.72 as the company released “record silver production” figures from its 70%-owned Cerro Los Gatos mine in Mexico for the first quarter of 2022. Gatos also announced the appointment of Dale Andres, the company’s current president, as its new CEO. The company produced 2.4 million oz. of silver in the first quarter, which is a 58% increase compared to the first quarter of 2021.

“The increased production in the quarter was primarily due to significantly higher silver grades, in addition to higher plant throughput and improved recoveries,” the company said. Lead and zinc production was 10.3 and 13.8 million lb., respectively, representing an increase of 36% and 58%, compared to last year, primarily due to higher mined ore grades.

Shares of Nexa Resources increased by 6.4% to US$10.43 after the company said that its Vazante mine in Minas Gerais, Brazil, resumed operations at full capacity following mine dewatering. Daily production was reduced to 60% of capacity from mid-January to February

this year, as the underground operation was partially flooded due to heavy rainfall levels.

“During this period, we also took advantage of the opportunity to plan the replacement of our main mill, trunnion, and gear box,” said the company. Throughput is currently at 4,600 tonnes per day. Vazante’s zinc production guidance for 2022 remains unchanged at 118,000 to 127,000 tonnes.

Shares of Alcoa, a global leader in the production of aluminum, fell 7.1% or $6.47 to US$84.15 as the price of the metal fell by 2.8% during the trading week. The company recently announced that its Massena facility in New York earned a provisional certification from the Aluminium Stewardship Initiative (ASI) for both its smelter and casthouse. “Earning U.S. MOST ACTIVE ISSUES VOLUME (000s)

Vale* Kinross Gold* Yamana Gold* Cleveland-Clif* Barrick Gold* Freeport McMoR* United States S* Peabody Enrgy* Mosaic* Chevron Corp*

HIGH

WEEK LOW CLOSE CHANGE

VALE 163322 21.29 19.92 KGC 107459 6.23 5.70 AUY 94640 6.08 5.64 CLF 82307 34.04 27.50 GOLD 79645 25.49 24.33 FCX 59560 51.78 47.44 X 52655 38.23 34.95 BTU 47174 28.88 24.15 MOS 46820 74.75 65.05 CVX 46203 171.10 163.00

20.10 6.21 5.88 30.77 25.41 48.97 35.95 27.25 73.86 169.93

+ + + + + +

0.73 0.19 0.11 1.59 0.47 1.99 1.88 1.23 7.98 5.71

certifications from ASI aligns with our vision to reinvent the aluminum industry for a sustainable future,” said John Slaven, Alcoa’s CEO. He added that the recognition was welcome news for the facility, which has marked 120 years of continual production. Massena is the world’s longest continuously operating smelter, with aluminum production beginning in 1902. It currently has a nameplate capacity of 130,000 tonnes, all powered by renewable

hydroelectricity, the company says. The certification brings Alcoa’s total number of facilities certified to ASI’s standards to 16 global sites.

The ASI certification program was developed via a multi-stakeholder consultation process that defines robust environmental, social and governance (ESG) principles and criteria, including key issues such as biodiversity, rights for Indigenous groups and greenhouse gas emissions. TNM U.S. GREATEST VALUE CHANGE

U.S. GREATEST PERCENTAGE CHANGE VOLUME (000s) HIGH

Intrepid Pots* Mosaic* Nexgen Energy* NACCO Ind* Nexa Resources* Gatos Silver* Natural Res Pt* Peabody Enrgy* Cameco Corp* Buenaventura* Lithium Amer* Nouveau Monde* Harmony Gold* Alcoa* DRDGOLD* Southern Copp* United States S* Cleveland-Clif* HudBay Min* Gold Fields*

IPI MOS NXE NC NEXA GATO NRP BTU CCJ BVN LAC NMG HMY AA DRD SCCO X CLF HBM GFI

4013 109.84 46820 74.75 12977 6.27 139 44.30 650 10.43 3607 4.94 238 45.64 47174 28.88 42621 30.97 6227 10.92 35899 40.39 399 7.30 32936 5.15 25998 93.20 1184 9.74 4758 79.32 52655 38.23 82307 34.04 6023 8.23 30361 15.88

VOLUME (000s)

WEEK LOW CLOSE CHANGE

80.73 106.91 65.05 73.86 5.37 6.19 40.10 44.30 9.48 10.43 4.30 4.72 40.31 45.41 24.15 27.25 27.51 30.31 9.62 10.77 30.00 31.08 6.22 6.38 4.62 4.86 83.17 84.15 8.74 9.13 71.96 73.83 34.95 35.95 27.50 30.77 7.26 7.58 14.48 15.38

+ + + + + + + + + + -

29.6 12.1 9.9 8.9 6.4 6.3 5.7 4.7 4.4 4.4 20.2 10.9 7.3 7.1 6.4 5.6 5.0 4.9 4.8 4.6

Intrepid Pots* Mosaic* Chevron Corp* Arch Resources* NACCO Ind* Franco-Nevada* Natural Res Pt* Nutrien* Agnico Eagle* Cameco Corp* MartinMarietta* Lithium Amer* Alcoa* Southern Copp* Rio Tinto* Freeport McMoR* United States S* Cleveland-Clif* Teck Res* AngloGold Ash*

IPI MOS CVX ARCH NC FNV NRP NTR AEM CCJ MLM LAC AA SCCO RIO FCX X CLF TECK AU

4013 46820 46203 2909 139 2925 238 16124 14786 42621 1811 35899 25998 4758 14829 59560 52655 82307 25724 12274

WEEK CLOSE

CHANGE

106.91 73.86 169.93 145.94 44.30 166.36 45.41 106.02 65.13 30.31 371.97 31.08 84.15 73.83 80.28 48.97 35.95 30.77 41.00 23.67

+ 24.40 + 7.98 + 5.71 + 4.98 + 3.62 + 2.69 + 2.43 + 2.25 + 1.85 + 1.28 - 13.09 - 7.86 - 6.47 - 4.34 - 2.40 - 1.99 - 1.88 - 1.59 - 1.19 - 0.80

GLOBAL MINING NEWS

THE NORTHERN MINER / APRIL 18—MAY 1, 2022

19

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

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening on April 7 2022 (change from March 31 2022 in brackets): Aluminium Alloy 2160 (0) Aluminium 619775 (-27075) Copper 101275 (+9875) Lead 39325 (+600) Nickel 74190 (+1620) Tin 2795 (+685) Zinc 127675 (-14250)

TSX SHORT POSITIONS

Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$106.150 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$16.10 Cobalt: US$37.00/lb.

Copper: US$4.67/lb.

Copper: CME Group Futures April 2022: US$4.62/lb.; May 2022: US$4.62/lb.

Iridium: NY Dealer Mid-mkt US$6,100/tr oz.

Iron Ore 62% Fe CFR China-S: US$154.7 Lead: US$1.09/lb.

Rhodium: Mid-mkt US$20,250/tr. oz.

Ruthenium: Mid-mkt US$750 per oz.

Silver: Handy & Harman Base: US$24.70 per oz.; Handy & Harman Fabricated: US$30.88 per oz.

Tin: US$20.09/lb.

Bold: U3O8, Trading Economics spot price: US$63.50 per lb. U308 Zinc: US$1.93 per lb.

Prices current March 28, 2022

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of March 31, 2022 (with changes from March 15, 2022) Largest short positions Suncor Energy SU 19833832 2161759 3/15/2022 Argonaut Gold AR 17652545 431723 3/15/2022 Ivanhoe Mines IVN 16881770 -802409 3/15/2022 Kinross Gold K 15809967 2515144 3/15/2022 McEwen Mng MUX 12229790 2398981 3/15/2022 Barrick Gold ABX 12195459 -4119058 3/15/2022 Wheaton Prec WPM 10488580 -752015 3/15/2022 Fortuna Silvr FVI 10152450 346543 3/15/2022 Fission Uran FCU 9889949 1523797 3/15/2022 First Quantum FM 8297159 12447 3/15/2022 Lundin Mng LUN 8105831 -825325 3/15/2022 Denison Mines DML 8022429 -1332041 3/15/2022 Nexgen Energy NXE 7704400 -980155 3/15/2022 IAMGOLD IMG 7230030 -888199 3/15/2022 New Gold NGD 6841164 -314165 3/15/2022 Largest increase in short position Kinross Gold K 15809967 2515144 3/15/2022 McEwen Mng MUX 12229790 2398981 3/15/2022 Suncor Energy SU 19833832 2161759 3/15/2022 Osisko Gold OR 5215233 2021237 3/15/2022 Ascot Res AOT 3378621 1768529 3/15/2022 Largest decrease in short position Barrick Gold ABX 12195459 -4119058 3/15/2022 OceanaGold OGC 5122070 -3594814 3/15/2022 Nutrien NTR 4126779 -3147629 3/15/2022 Dundee Prec Mt DPM 540233 -2102688 3/15/2022 Yamana Gold YRI 3792197 -1900635 3/15/2022

Short positions outstanding as of March 31, 2022 (with changes from March 15, 2022) Largest short positions Pure Gold Mg PGM 5154546 248365 3/15/2022 Noront Res NOT 3725853 639963 3/15/2022 GR Silver GRSL 3668784 -82956 3/15/2022 Elevation Gold ELVT 3157934 1755433 3/15/2022 Canada Nickel CNC 2963588 1140935 3/15/2022 Emerita Res EMO 2808690 863239 3/15/2022 Baselode Egy FIND 2172934 1541774 3/15/2022 Purepoint Uran PTU 2046841 1794662 3/15/2022 GoviEx Uranium GXU 2042465 -851156 3/15/2022 GFG Resources GFG 1973009 1922627 3/15/2022 Uranium Roylty URC 1935942 1437173 3/15/2022 Leeta Gold HIVE 1855907 -2699469 3/15/2022 Oroco Res OCO 1664112 1098066 3/15/2022 Canada Silver CCW 1532825 1359444 3/15/2022 Inomin Mines MINE 1404976 1404540 3/15/2022 Largest increase in short position GFG Resources GFG 1973009 1922627 3/15/2022 Purepoint Uran PTU 2046841 1794662 3/15/2022 Elevation Gold ELVT 3157934 1755433 3/15/2022 Baselode Egy FIND 2172934 1541774 3/15/2022 Uranium Roylty URC 1935942 1437173 3/15/2022 Largest decrease in short position EnCore Energy EU 457552 -4492904 3/15/2022 Leeta Gold HIVE 1855907 -2699469 3/15/2022 New Placer NGLD 30854 -1845056 3/15/2022 QC Copper QCCU 52906 -1560309 3/15/2022 FPX Nickel FPX 20555 -1314730 3/15/2022

DAILY METAL PRICES Date APR 4 APR 5 APR 6 BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne) Al Alloy 2784/2790 2785/2790 2735/2740 Aluminum 3443.5/3459 3414/3440 3443/3466 Copper 10300.5/10322 10425/10445 10349.5/10368 Lead 2434/2425 2418/2406 2388/2398 Nickel 33680/33550 33745/33725 33550/33470 Tin 45450/44500 45350/44475 45125/44400 Zinc 4470/4408 4309/4269 4304/4272

APR 7

APR 8

2731/2735 3344/3372 10291/10300 2404.5/2412 33390/33425 44200/43600 4249/4220

2731/2735 3393/3421 10385/10378 2423/2420 34095/33950 44290/43900 4279/4249

1926.40 1932.40 24.38 957 2258

1931.20 1941.40 24.63 972 2442

PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.)

Gold AM 1927.10 1929.45 1929 Gold PM 1930.30 1944.05 1930.15 Silver 24.67 24.68 24.27 Platinum 985 981 963 Palladium 2297 2294 2240

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

Apr 08 1.2567 0.7957

Apr 07 1.2588 0.7944

Apr 06 1.2566 0.7958

Apr 05 1.2485 0.8010

Apr 04 1.2487 0.8009

TSX WARRANTS 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 Aris Gold Corporation (ARIS.WT) - One Warrant to purchase one Common Share of the Issuer at $2.75 until expiry. 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 Excelsior Mining Corp. (MIN.WT) - One Warrant to purchase one Common Share of the Issuer at $1.25 until expiry.

Gran Colombia Gold (GCM.WT.B) - One warrant to purchase one common share of the Issuer at $2.21 until expiry.

Karora Resources Inc. (KRR.WT) - One Warrant to purchase one common share of the Issuer at $0.50 until expiry.

Liberty Gold Corp. Wt (LGD.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry may 16, 2019 Lithium Americas Corp (LAC.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry Lydian International Limited (LYD.WT) - One Warrant to purchase one additional ordinary share of the Issuer at $0.36 per share until expiry Nevada Copper Corp. (NCU.WT) - One Warrant to purchase one common share of the Issuer at $0.20 until expiry Nevada Copper Corp. (NCU.WT.A) - One Warrant to purchase one common share of the Issuer at $0.22 until expiry Nomad Royalty Company Ltd. (NSR.WT) One Warrant to purchase one common share of the Issuer at $1.71 until expiry.

Novo Resources Corp. (NOVO.WT.A) - One Warrant to purchase one common share of

ABE Resources Inc. (ABE.WT) - One warrant to purchase one common share at $0.15 per share.

Alpha Lithium Corporation (ALLI.WT) - One warrant to purchase one common share at $1.10 per share.

Alpha Lithium Corporation (ALLI.WT) - One warrant to purchase one common share at $1.10 per share.

American Cumo Mining Corp. (MLY.RT) - 2 rights and $0.07 are required to purchase one share American Lithium Corp. (LI.WT) - One warrant to purchase one common share at $0.30 per share.

Antioquia Gold Inc. (AGD.RT) - One (1) Right and $0.042 are required to purchase one share.

Aurania Resources Ltd. (ARU.RT) - Fourteen (14) Rights exercisable for one common share at $2.70 per common share.

Aurania Resources Ltd. (ARU.WT) - One warrant to purchase one common share at $5.50 per share.

Aurania Resources Ltd. (ARU.WT.A) - One warrant to purchase one common share at $4.25 per share.

Aurania Resources Ltd. (ARU.WT.B) - One warrant to purchase one common share at $2.20 per share.

Avidian Gold Corp. (AVG.RT) - Three rights and $0.11 are required to purchase one Share.

Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.50 per share.

Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.30 per share.

Cabral Gold Inc. (CBR.WT) - One warrant to purchase one common share at $0.80 per share.

Caldas Gold Corp. (CGC.WT) - One warrant to purchase one common share at $2.75 per share.

Cascadero Copper Corporation (CCD.RT) One right and $0.015 are required to purchase one 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.

Cordoba Minerals Corp. (CDB.RT) - One right to purchase one common share at $0.54 per share.

Denarius Silver Corp. (DSLV.WT) - One war-

rant to purchase one common share at $0.80 per share.

Elevation Gold Mining Corporation (ELVT. WT) - One warrant to purchase one common share at $4.80 per share.

Empress Royalty Corp. (EMPR.WT) - One warrant to purchase one common share at $0.75 per share.

Equinoxgold 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 $0.60 per share.

Firefox Gold Corp. (FFOX.WT) - One warrant to purchase one common share at $3.00 per share.

Giga Metals Corporation (GIGA.WT) - One warrant to purchase one common share at $0.60 per share.

Giga Metals Corporation (GIGA.WT.A) - One warrant to purchase one common share at $0.45 per share.

Giyani Metals Corp. (EMM.WT) - One warrant to purchase one common share at $0.60 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.

Kaizen Discovery Inc. (KZD.RT) - One warrant to purchase one common share at $0.51 per share.

LaSalle Exploration Corp. (LSX.WT) - One warrant to purchase one common share at $0.15 per share.

Lion One Metals Limited (LIO.WT) - One warrant to purchase one common share at $2.75 per share.

LSC Lithium Corporation (LSC.RT) - One (1) right exercisable for One (1) Unit at $0.40 per Unit.

Mako Mining Corp. (MKO.RT) - Rights exercisable for One (1) share at $0.10 per share.

Mako Mining Corp. (MKO.WT.A) - One warrant to purchase one common share at $0.60 per share.

Manganese X Energy Corp. (MN.WT) - One warrant to purchase one common share at $0.15 per share.

Maple Gold Mines Ltd. (MGM.WT) - One warrant to purchase one common share at $0.40 per share

the Issuer at $3.00 until expiry.

Platinum Group Metals Ltd. (PTM.WT.U) One Warrant to purchase one common share of the Issuer at US$0.17 until expiry Royal Nickel Corporation (RNX.WT) - One Warrant to purchase one common share of the Issuer at $0.50 until expiry.

Sandstorm Gold (SSL.WT.B) - One Warrant to purchase one common share of the Issuer at US $14.00 until expiry.

Sherritt International Corporation (S.WT) Each whole Warrant entitles the holder to acquire between 1.00 and 1.25 additional common shares (as bulletin 2018-0062 table) determined based on the Applicable Reference Cobalt Price at an exercise price of $1.95 per Warrant at any time prior to the Expiry Date Treasury Metals Inc. Wt (TML.WT) - One Warrant to purchase one common share of the Issuer at $1.50 until expiry.

Trevali Mining Corporation (TV.WT) - One Warrant to purchase one common share of the Issuer at $0.23 until expiry.

TSX VENTURE WARRANTS 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.

Millennial Lithium Corp. (ML.WT) - One right to purchase one common share at $4.80 per share.

Mineworx Technologies Ltd. (MWX.RT) One right to purchase one common share at $0.015 per share.

Northern Vertex Mining Corp. (NEE.WT) One warrant to purchase one common share at $0.80 per share.

Novo Resources Corp. (NVO.WT) - One warrant to purchase one common share at $4.40 per share.

Orezone Gold Corporation (ORE.WT) - One warrant to purchase one common share at $0.80 per share.

Orezone Gold Corporation (ORE.WT) - One warrant to purchase one common share at $0.80 per share.

Osisko Development Corp. (ODV.WT) - One warrant to purchase one common share at $10.00 per share.

Sandfire Resources America Inc. (SFR.RT) Forty one (41) Rights exercisable for One (1) Share at $0.15 per Share.

Sandfire Resources America Inc. (SFR.RT) Eight (8) Rights exercisable for One (1) share at $0.06 per unit.

Star Royalties Ltd. (STRR.WT) - One warrant to purchase one common share at $1.00 per share.

Three Valley Copper Corp. (TVC.WT) - 20 warrants to purchase one Class A common share at $6.66 per share.

Tintina Resources Inc. (TAU.RT) - Nine(9) Rights exercisable for one share at $0.06 per share.

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.

Vizsla Silver Corp. (VZLA.WT) - One warrant to purchase one common share at $3.25 per share.

Westhaven Gold Corp. (WHN.WT) - One warrant to purchase one common share at $1.00 per share.

Yellowhead Mining Inc. (YMI.RT) - One (1) Right and $0.12 are required to prchase one Share

NORTH AMERICAN STOCK EXCHANGE INDICES

Exchange rates (Quote Media, April 08, 2022) C$ to AUS C$ to EURO 1.0668 0.7314 C$ to UK Pound C$ to China Yuan 0.6104 5.0638 US to AUS US to EURO 1.3428 0.9195 US to UK Pound US to China Yuan 0.7682 6.3651

C$ to YEN 98.8285 C$ to India Rupee 61.0693 US to YEN 124.3000 US to India Rupee 75.9175

C$ to Mex Peso 15.9443 C$ to Swiss Franc 0.7429 US to Mex Peso 20.0371 US to Swiss Franc 0.9354

C$ to SA Rand 11.6677 C$ to S. Korea Won 977.5774 US to SA Rand 14.5075 US to S. Korea Won 1229.1500

52-week

IndexName S&P/TSX Composite S&P/TSXV Composite S&P/TSX 60 S&P/TSX Global Gold DJ Precious Metals

Apr 08 21874.35 888.21 1324.37 363.36 323.31

Apr 07 21834.89 886.33 1323.03 356.02 323.31

Apr 06 21788.60 880.88 1322.30 350.26 323.31

Apr 05 21930.83 891.23 1329.63 348.02 323.31

Apr 04 22085.60 905.10 1336.07 355.33 323.31

High 22213.07 1025.77 1344.63 374.02 330.23

Low 18967.09 802.71 1130.05 257.81 229.83

NEW 52-WEEK HIGHS AND LOWS APRIL 4-8, 2022 CANADIAN GOLD MUTUAL FUNDS FundName BMO Prec Mtls Fd A BMO ZGD BMO ZJG CANL Prec Mtl Fd A CI Pre Met Fd A CIBC Prec Metal Fd A Dyn Prec Metls Fd A Harvest HGGG Horizons HEP IG MacGbPreMetCl A iShares XGD NBI PrecMetFd Invt NP Silver Equ A NPT Go&PrMinFd A RBC GblPreMetFd A TD Prec Mtl Fd Inv

Apr 08 ($) 28.75 84.68 78.88 21.84 17.08 14.51 30.12 32.53 18.22 22.80 21.55 9.39 59.32 64.48 57.13

Apr 01 ($) 28.55 84.38 78.79 21.85 61.79 16.93 14.77 29.77 32.14 18.23 22.59 21.24 9.44 59.75 64.60 56.60

Change ($) 0.20 0.30 0.09 -0.01 0.69 0.15 -0.26 0.35 0.40 -0.01 0.21 0.31 -0.05 -0.43 -0.12 0.53

Change (%) 0.68 0.36 0.11 -0.03 1.13 0.91 -1.79 1.17 1.23 -0.07 0.93 1.46 -0.48 -0.73 -0.18 0.94

YTDChange (%) 7.75 7.88 7.64 6.13 1.36 5.71 0.89 1.62 4.42 6.08 8.14 3.35 -0.02 4.25 5.02 6.51

MER (%) 2.40 0.60 0.61 2.58 2.31 2.29 2.67 0.68 0.81 2.63 0.61 2.46 3.24 3.19 2.09 2.26

TotalAssets (M$) 57.58 58.17 83.06 20.00 345.96 61.21 625.55 5.42 22.25 1239.27 28.31 424.39 133.31

122 New Highs ACME Lithium AEX Gold Alpha Lithium* Anglo American* Angus Gold Arena Min Arena Min* Arianne Phosph Arianne Phosph* Asante Gold Avalon Advance Avalon Advance* Bathurst Metal* Black Hills* Cameco Corp Cameco Corp* Capitan Mining Capitan Mining* Champion Bear Champion Bear* Champion Iron Champion Iron* China Gold Int Cleveland-Clif* Clydesdale Res CMC Metals* Colombia Crest

Colombia Crest* CONSOL Energy* Core Assets Cornerstone Ca Engold Mines* Entree Res Entree Res* Ethos Gold Filo Mg Corp Filo Mg Corp * First Quantum Frontier Lith Garibaldi Res Garibaldi Res * Glencore Plc * Glencore Plc* Globex Mng Globex Mng* Gold Fields* Green River Green River* Grizzly Discvr Grizzly Discvr* iMetal Res iMetal Res* Intl Lithium Intl Lithium* Intrepid Pots*

Itafos Itafos* Ivor Explor Josemaria Res Karora Res* Lake Resources* Lithium Energi Lynas Corp* Mandalay Res Mandalay Res* Manganese X* MAX Res Mirasol Res Moneta Porcpn* Mosaic* NACCO Ind* Natural Res Pt* NevGold NevGold* Newmont Corp Newmont Corp* NGEx Minerals OceanaGold Orezone Gold Orezone Gold* Orla Mining Osisko Metals Osisko Metals*

Pasinex Res Peabody Enrgy* PepinNini Lith* Pershing Res* Pine Cliff En Pine Cliff En* Quartz Mtn Res Regulus Res Romios Gold Rs Romios Gold Rs* Royal Gold* Rupert Res Searchlight* SearchlightRes Select Sands Sierra Grande Sigma Lithium Sigma Lithium* Snowline Gold SolGold plc SSR Mining SSR Mining* Stone Gold Suncor Energy* Superior Gold Superior Gold* Teck Res Tower Res*

Trinity Valley* Triple Flag Turquoise HIl Turquoise HIl* Ultra Resource Ultra Resource* Uranium Energy* Western Areas* Yamana Gold Yamana Gold* York Harbour* 41 New Lows 79 Resources Altamira Gold Altamira Gold* Amseco Expl * Angold Res Apollo Silver Aurania Res Aurcana Silver Aurcana Silver* Aurion Res Doubleview Gld Excelsior Mng Fury Gold GoldHaven Res* GR Silver GR Silver*

Heliostar Met Heliostar Met* Integra Res Kore Mining * Li-Metal Liberty Gold* Medallion Res* Monarch Mining Nfld Discovery* Noront Res North Valley Northern Light Novo Res Oroco Res Palladium One* Pure Gold Mg Pure Gold Mg* Revival Gold * Ridgestone M’g* Secova Metals Stinger Res Sun Summit Temas Res Temas Res* UC Res*

GLOBAL MINING NEWS · SINCE 1915 Financial information provided by Fundata Canada Inc. ©Fundata Canada Inc. All rights reserved

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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

WWW.NORTHERNMINER.COM

APRIL 18—MAY 1, 2022 / THE NORTHERN MINER

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: APRIL 4–8, 2022 (100s) Stock

Exc Volume

Week High

Low

Last

12-month Change

High Low

A 1111 Explor C 1844 Resources V 1911 Gold* O 1911 Gold V 55 North C 79 Resources C 79North C A.I.S Res* O A.I.S Res V Abacus Mining* O Abacus Mining V Abcourt Mines V Abcourt Mines* O Aben Resources* O Aben Resources V AbraSilver Res V AbraSilver Res* O Academy Metals* O Academy Metals V ACME Lithium C Adamera Min V Adamera Min* O Adex Mining V Advance Gold V Advance United C Adventus V Adventus* O Adyton Res* O Adyton Res V AEX Gold V Affinity Metal* O African Energy* O African Gold* O African Gold V African Metals V African Rainbo* O Aftermath Silv* O Agnico Eagle T Agnico Eagle* N Aguila Amer Gd V Aguila Amer Gd* O Aiml Res* O AJN Resources C Akwaaba Mining V Alamos Gold T Alamos Gold* N Alcoa* N Aldebaran Res V Aldebaran Res* O Alerio Gold C Alexandra Cap* O Alexco Res T Alexco Res* X Alianza Min* O Alianza Min V All American* O Allegiant Gold V Allegiant Gold* O Alliance Mng V Alliance Res* D Allied Copper V Allied Copper* O Alma Gold C Almaden Min* X Almaden Min T Almadex Min* O Almadex Min V Almonty Ind * O Almonty Ind T Aloro Mining V Alpha Copper C Alpha Lithium V Alpha Lithium* O Alphamin Res * O Alphamin Res V Altai Resource V Altair Res Inc* O Altair Res Inc V Altaley Mining* O Altaley Mining V Altamira Gold* O Altamira Gold V Altan Nevada V Altan Rio Min V Altiplano Met V Altiplano Met* O Altius Mnrls * O Altius Mnrls T Alto Ventures V Alto Ventures* O Altura Mining* O Alturas Min V Altus Strat V Altus Strat* O Alumina Ltd* O ALX Resources V ALX Resources* O AM Resources V Amani Gold* O Amarc Res V Amarc Res* O Amarillo Gold V Amarillo Gold* O Amer Intl Vent* O American Creek* O American Creek V American CuMo V American CuMo* O American Eagle V American Lith* O American Lith V American Mang* O American Mang V American Pac C American Rare* O AmericanSierra* O Americas Silvr* X Americas Silvr T Amerigo Res T Amerigo Res* O Ameriwest Lith* O Ameriwest Lith C Amex Expl V Amex Expl* O AmmPower* O AmmPower C Amseco Expl V Amseco Expl * O AMV Capital V Anaconda Mng* O Anaconda Mng T Anacortes Mg V Andean Prec V Andean Prec* O Anfield Energy* O Anfield Energy V Angel Gold V Angkor Gold* O Angkor Res V Anglo American* O Anglo American* O Anglo Pac Grp T AngloGold Ash* O AngloGold Ash* N Angold Res V Angold Res* O Angus Gold* O Angus Gold V Antioquia Gold* O Antioquia Gold V Antler Gold V Antler Hill V Antofagasta* O Apex Res * O Apex Res V Apogee Min V Apollo Silver V Apollo Silver* O Appia Rare* O Appia Rare C Applied Min* O Arbor Metals V Arch Resources* N

120 99 115 268 12 3 58 122 2436 74 263 138 95 106 346 1523 1682 2 8 704 199 156 52 1345 118 191 185 17 407 319 40 8 269 3592 219 1 703 6058 14786 16 7 183 188 82 2392 10023 25998 24 8 82 303 1814 6071 424 464 136853 433 615 0 3492 234 34 229 2507 104 99 65 44 248 0 535 1436 644 1633 6379 324 5 2105 362 346 427 492 6 0 255 221 178 494 1263 291 910 94 54 7 57 1308 230 333 655833 99 1 0 119 335 132 1876 137 128 79 2432 2624 987 552 465 212 75 2816 859 1851 287 1968 585 222 67 932 443 47 0 0 70 414 205 167 19 2851 6000 25 1 382 33 1271 36 0 12274 5029 721 10 45 41 12 57 0 0 0 914 0 2210 287 463 1118 8409 91 2909

0.10 0.00 0.10 + 0.03 0.15 0.05 0.10 0.00 0.09 unch 0.00 0.11 0.05 0.32 0.29 0.29 - 0.02 0.59 0.21 0.40 0.36 0.36 - 0.02 0.72 0.26 0.05 0.00 0.05 unch 0.00 0.23 0.04 0.00 0.00 0.07 unch 0.00 0.15 0.05 0.11 0.11 0.11 + 0.01 0.16 0.08 0.03 0.00 0.03 + 0.00 0.11 0.03 0.04 0.04 0.04 unch 0.00 0.11 0.04 0.06 0.05 0.06 + 0.00 0.18 0.04 0.09 0.00 0.09 + 0.02 0.21 0.06 0.09 0.00 0.09 - 0.01 0.17 0.08 0.07 0.07 0.07 + 0.00 0.15 0.05 0.05 0.00 0.04 - 0.00 0.07 0.03 0.06 0.00 0.05 - 0.01 0.08 0.04 0.38 0.34 0.37 + 0.01 0.82 0.32 0.30 0.27 0.29 - 0.00 0.68 0.25 0.30 0.30 0.30 unch 0.00 0.45 0.30 0.46 0.00 0.38 + 0.05 3.00 0.33 1.44 1.30 1.31 + 0.02 1.44 0.31 0.08 0.00 0.06 - 0.01 0.12 0.05 0.06 0.06 0.06 + 0.00 0.10 0.04 0.02 0.00 0.02 + 0.01 0.02 0.01 0.06 0.05 0.05 - 0.01 0.11 0.05 0.45 0.35 0.38 - 0.07 2.09 0.15 0.79 0.72 0.72 - 0.06 1.28 0.71 0.63 0.57 0.58 - 0.05 1.06 0.56 0.03 0.03 0.03 unch 0.00 0.07 0.03 0.04 0.00 0.04 - 0.01 0.27 0.03 0.70 0.55 0.70 + 0.13 0.65 0.44 0.04 0.04 0.04 unch 0.00 0.15 0.04 0.07 0.00 0.06 - 0.00 0.21 0.01 0.11 0.08 0.09 - 0.01 0.24 0.01 0.13 0.10 0.11 - 0.02 0.20 0.10 0.07 0.00 0.06 - 0.01 0.15 0.05 19.33 0.00 18.85 - 2.60 21.45 12.98 0.30 0.27 0.29 - 0.00 0.80 0.25 81.99 77.57 81.85 + 2.71 89.95 58.02 65.22 61.80 65.13 + 1.85 74.50 45.42 0.30 0.28 0.29 + 0.01 0.40 0.15 0.24 0.19 0.24 + 0.04 1.00 0.12 0.14 0.11 0.11 - 0.02 0.79 0.08 0.37 0.00 0.37 + 0.04 0.45 0.18 0.02 0.00 0.02 unch 0.00 0.04 0.01 11.05 10.46 10.93 + 0.11 11.33 8.30 8.89 8.33 8.68 + 0.01 9.38 6.51 93.20 83.17 84.15 - 6.47 98.09 30.03 0.90 0.00 0.88 - 0.04 1.13 0.46 0.72 0.69 0.71 + 0.00 0.88 0.36 0.23 0.19 0.19 - 0.02 0.49 0.17 0.21 0.17 0.19 - 0.01 0.65 0.15 2.06 1.74 1.79 - 0.22 4.01 1.70 1.66 1.39 1.44 - 0.18 3.34 1.34 0.07 0.05 0.06 - 0.00 0.11 0.05 0.08 0.00 0.08 + 0.01 0.13 0.06 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.49 0.45 0.47 + 0.02 0.56 0.24 0.39 0.34 0.38 + 0.02 0.46 0.19 0.00 0.00 0.25 unch 0.00 1.15 0.25 16.09 14.77 15.73 + 0.32 16.35 5.45 0.18 0.15 0.18 + 0.01 0.68 0.15 0.15 0.13 0.15 + 0.02 0.44 0.12 0.12 0.00 0.07 - 0.01 0.23 0.04 0.37 0.32 0.35 - 0.01 0.60 0.27 0.45 0.39 0.43 - 0.03 0.74 0.34 0.25 0.23 0.23 - 0.01 0.27 0.15 0.32 0.00 0.30 - 0.01 0.33 0.21 0.78 0.73 0.74 - 0.03 1.07 0.58 0.98 0.92 0.92 - 0.04 1.27 0.78 0.00 0.00 0.05 unch 0.00 0.08 0.04 1.02 0.88 0.90 - 0.09 1.09 0.18 1.10 0.95 1.00 - 0.05 1.69 0.45 0.87 0.71 0.76 + 0.10 0.87 0.25 0.95 0.86 0.91 - 0.01 0.97 0.44 1.17 1.09 1.15 unch 0.00 1.21 0.55 0.09 0.08 0.08 - 0.01 0.17 0.06 0.07 0.07 0.07 unch 0.00 0.13 0.03 0.09 0.08 0.09 - 0.01 0.19 0.04 0.30 0.26 0.28 + 0.01 0.79 0.24 0.36 0.32 0.36 + 0.01 0.80 0.31 0.16 0.13 0.13 - 0.02 0.42 0.13 0.20 0.17 0.17 - 0.03 0.47 0.17 0.09 0.00 0.09 + 0.01 0.35 0.07 0.00 0.00 0.11 unch 0.00 0.20 0.09 0.35 0.30 0.32 unch 0.00 0.50 0.23 0.27 0.25 0.25 unch 0.00 0.36 0.18 19.71 18.14 19.43 - 0.20 20.35 11.56 24.78 23.15 24.35 - 0.22 25.68 14.92 0.33 0.28 0.33 + 0.06 0.43 0.14 0.26 0.22 0.26 + 0.04 0.37 0.12 0.05 0.03 0.03 - 0.02 0.11 0.00 0.03 0.00 0.02 - 0.01 0.05 0.02 0.94 0.00 0.94 + 0.04 1.49 0.80 0.79 0.68 0.68 - 0.05 1.12 0.50 6.24 5.72 5.77 - 0.30 6.99 4.44 0.08 0.07 0.08 + 0.01 0.15 0.05 0.07 0.05 0.06 + 0.00 0.12 0.04 0.07 0.07 0.07 unch 0.00 0.10 0.04 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.12 0.00 0.12 + 0.01 0.20 0.10 0.08 0.00 0.08 - 0.00 0.16 0.08 0.00 0.00 0.44 unch 0.00 0.44 0.20 0.35 0.34 0.35 unch 0.00 0.35 0.16 0.01 0.01 0.01 - 0.00 0.05 0.00 0.18 0.16 0.16 - 0.01 0.25 0.12 0.23 0.20 0.20 - 0.01 0.31 0.16 0.06 0.00 0.05 - 0.01 0.08 0.04 0.05 0.04 0.04 + 0.01 0.06 0.02 0.11 0.00 0.11 - 0.01 0.40 0.10 3.49 2.93 3.02 - 0.37 5.00 1.20 4.33 3.68 3.79 - 0.45 6.25 1.50 0.60 0.53 0.55 - 0.03 1.17 0.37 0.74 0.67 0.68 - 0.05 1.48 0.47 0.91 0.80 0.86 - 0.04 1.40 0.13 0.40 0.33 0.36 - 0.04 0.42 0.02 0.04 0.03 0.04 + 0.00 0.29 0.02 1.14 1.02 1.09 - 0.04 2.49 0.68 1.41 1.28 1.36 - 0.03 3.02 0.85 1.88 1.76 1.79 - 0.08 2.01 0.92 1.51 1.40 1.43 - 0.06 1.66 0.73 0.92 0.77 0.80 - 0.10 1.37 0.53 1.12 1.00 1.02 - 0.11 1.74 0.54 3.05 2.84 2.95 - 0.01 3.36 2.07 2.42 2.26 2.40 + 0.05 2.68 1.65 0.31 0.25 0.27 + 0.00 1.90 0.20 0.38 0.31 0.35 + 0.01 2.15 0.25 0.06 0.00 0.06 unch 0.00 0.12 0.04 0.00 0.00 0.03 unch 0.00 0.03 0.03 0.00 0.00 0.12 unch 0.00 0.15 0.12 0.58 0.51 0.55 - 0.01 0.85 0.39 0.73 0.63 0.68 - 0.02 1.05 0.50 1.60 1.44 1.50 + 0.02 2.50 1.07 1.69 1.53 1.64 - 0.04 2.30 0.92 1.32 1.22 1.30 - 0.05 1.83 0.77 0.12 0.11 0.11 + 0.00 0.18 0.06 0.15 0.13 0.14 - 0.01 0.23 0.08 0.19 0.00 0.19 + 0.01 0.40 0.15 0.09 0.09 0.09 + 0.01 0.13 0.04 0.12 0.11 0.12 + 0.01 0.17 0.05 55.61 0.00 54.70 + 1.20 55.02 33.18 27.45 26.07 27.30 + 0.27 27.50 16.75 3.17 2.95 3.04 + 0.04 3.45 1.99 0.00 0.00 27.06 unch 0.00 27.20 15.31 24.62 22.75 23.67 - 0.80 26.96 14.57 0.13 0.11 0.11 - 0.02 0.47 0.11 0.12 0.08 0.09 - 0.01 0.33 0.08 1.02 0.00 1.02 + 0.06 1.25 0.56 1.30 1.20 1.27 + 0.07 1.30 0.69 0.03 0.03 0.03 + 0.00 0.05 0.02 0.04 0.00 0.04 unch 0.00 0.06 0.03 0.12 0.00 0.12 - 0.03 0.25 0.09 0.00 0.00 0.18 unch 0.00 0.18 0.18 22.13 21.93 22.13 unch 0.00 27.80 16.50 0.00 0.00 0.05 unch 0.00 0.13 0.01 0.07 0.00 0.06 - 0.01 0.09 0.04 0.00 0.00 0.11 unch 0.00 0.14 0.09 0.54 0.45 0.45 - 0.08 1.15 0.45 0.42 0.36 0.36 - 0.07 1.00 0.36 0.61 0.55 0.60 + 0.02 1.00 0.33 0.76 0.68 0.76 + 0.03 1.22 0.42 0.02 0.01 0.01 + 0.00 0.04 0.01 2.45 2.42 2.45 + 0.01 2.85 1.70 150.65 131.02 145.94 + 4.98 163.99 41.43

(100s) Stock

Exc Volume

Archer Explor C 55 Archon Mineral V 0 Arcland Res V 0 ArcPacific Res V 399 Arctic Fox Ven C 357 Arctic Star* O 4 Arctic Star V 1785 Arcus Dev Grp V 85 Arcwest Explor V 18 Arcwest Explor* O 3 Arena Min* O 1840 Arena Min V 7635 Argentina Lith* O 586 Argentina Lith V 905 Argentum Silvr V 4 Argo Gold C 35 Argo Gold* O 13 Argonaut Gold* O 577 Argonaut Gold T 3457 Arianne Phosph V 2196 Arianne Phosph* O 2389 Aris Gold T 350 Arizona Gold* O 242 Arizona Gold T 568 Arizona Metals V 742 Arizona Metals* O 513 Arizona Silver* O 218 Arizona Silver V 235 Armor Min V 9 Artemis Gold* O 59 Artemis Gold V 730 Asante Gold C 982 Asbestos Corp V 0 Ascendant Res* O 17 Ascendant Res T 341 Ascot Res T 9292 Ascot Res * O 3820 AsiaBaseMetals V 1 Aston Bay* O 143 Aston Bay V 1371 ATAC Res* O 152 ATAC Res V 311 Atacama Cop V 37 Atacama Res* O 851 Atalaya Mining T 81 Athabasca Min* O 13 Athabasca Min V 123 Athena Gold* O 231 Athena C 20 Atico Mining* O 248 Atico Mining V 244 Atlas Salt V 844 Atlas Salt* O 67 Aton Resources* O 10 Aton Resources V 41 Augusta Gold* O 397 Augusta Gold T 567 Aura Minerals T 102 Aura Minerals* O 17 Aurania Res* O 128 Aurania Res V 264 Aurcana Silver V 2851 Aurcana Silver* O 1673 AurCrest Gold V 505 AurCrest Gold* O 5 Aurelius Min V 170 Aurelius Min* O 28 Aurion Res V 3959 Aurion Res * O 35 Aurora Royal V 268 Aurwest Res C 1409 AURYN Mining* O 4 Aust Goldfield* O 18 Aust Mines* O 37 Austin Res V 0 Austral Gold V 33 Auxico Res* O 103 Auxico Res C 295 Avalon Advance* O 4709 Avalon Advance T 14702 Avarone Metals* O 1 Avidian Gold* O 18 Avidian Gold V 303 Avino Silver* X 2114 Avino Silver T 162 Avrupa Min V 132 Avrupa Min* O 6 Awale Res V 35 Axmin Inc* O 38 Axmin Inc V 48 Aya Gold* O 28 Azarga Metals* O 79 Azarga Metals V 188 Azimut Explor* O 29 Azimut Explor V 1182 Azincourt Ener* O 5834 Azincourt Ener V 10810 Aztec Minerals V 391 Aztec Minerals* O 137 Azucar Min V 233 Azucar Min* O 146

Week High

Low

0.35 0.00 0.00 0.05 0.13 0.08 0.11 0.04 0.09 0.08 0.55 0.68 0.40 0.50 0.18 0.08 0.06 2.16 2.59 0.76 0.60 1.87 0.05 0.07 6.80 5.45 0.44 0.54 0.62 5.69 7.06 2.20 0.00 0.18 0.23 1.07 0.92 0.18 0.04 0.05 0.12 0.16 0.35 0.01 6.90 0.39 0.50 0.08 0.14 0.39 0.48 1.54 1.25 0.21 0.31 1.35 1.73 12.50 9.93 0.52 0.65 0.23 0.19 0.25 0.18 0.32 0.26 1.05 0.85 0.06 0.12 1.03 0.17 0.17 0.00 0.08 0.68 0.85 0.19 0.24 0.02 0.04 0.06 0.96 1.20 0.08 0.07 0.20 0.04 0.04 7.45 0.04 0.05 1.11 1.49 0.07 0.09 0.32 0.25 0.15 0.11

0.35 0.00 0.00 0.05 0.12 0.08 0.10 0.00 0.00 0.08 0.39 0.49 0.34 0.45 0.00 0.08 0.06 1.83 2.30 0.65 0.51 1.56 0.05 0.06 6.00 4.79 0.36 0.46 0.00 5.38 6.76 1.91 0.00 0.00 0.19 0.87 0.71 0.00 0.03 0.00 0.11 0.14 0.00 0.01 6.30 0.37 0.46 0.06 0.00 0.35 0.44 1.42 0.99 0.21 0.00 0.92 1.18 11.91 0.00 0.42 0.52 0.20 0.16 0.18 0.18 0.28 0.23 0.00 0.79 0.00 0.09 0.78 0.05 0.16 0.00 0.00 0.55 0.65 0.12 0.15 0.02 0.04 0.05 0.89 1.10 0.00 0.05 0.00 0.03 0.00 6.59 0.00 0.00 0.94 1.18 0.06 0.07 0.27 0.00 0.00 0.09

Last

12-month Change

0.35 unch 0.20 unch 0.16 unch 0.05 unch 0.13 + 0.08 0.10 unch 0.03 unch 0.09 + 0.08 unch 0.45 0.57 0.37 + 0.46 + 0.15 unch 0.08 unch 0.06 unch 1.97 2.45 0.67 + 0.54 + 1.60 0.05 + 0.07 unch 6.30 5.02 0.39 0.51 0.54 unch 5.50 6.92 2.15 + 0.60 unch 0.18 + 0.23 + 0.95 0.76 0.18 + 0.03 0.04 0.11 0.14 0.28 0.01 unch 6.61 0.39 + 0.47 0.07 0.14 + 0.36 0.46 1.47 + 1.16 0.21 unch 0.30 1.35 + 1.68 + 12.28 + 9.76 0.45 0.57 0.21 0.17 0.25 + 0.18 unch 0.32 + 0.25 1.05 + 0.82 0.06 unch 0.10 + 0.92 + 0.14 0.17 + 0.07 unch 0.08 unch 0.65 + 0.80 + 0.17 + 0.21 + 0.02 unch 0.04 0.05 0.92 1.17 unch 0.08 + 0.06 + 0.20 unch 0.03 + 0.04 unch 7.22 0.04 + 0.05 unch 1.08 + 1.37 + 0.07 + 0.09 + 0.27 0.23 0.15 + 0.11 +

0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.01 0.00 0.04 0.04 0.00 0.01 0.00 0.00 0.00 0.06 0.08 0.03 0.03 0.13 0.00 0.00 0.35 0.28 0.02 0.02 0.00 0.11 0.15 0.25 0.00 0.03 0.03 0.17 0.13 0.04 0.01 0.01 0.00 0.01 0.03 0.00 0.02 0.03 0.03 0.02 0.07 0.02 0.02 0.03 0.02 0.00 0.01 0.43 0.52 0.18 0.03 0.07 0.07 0.02 0.02 0.07 0.00 0.03 0.00 0.04 0.01 0.00 0.01 0.15 0.03 0.01 0.00 0.00 0.02 0.09 0.05 0.06 0.00 0.00 0.01 0.02 0.00 0.01 0.01 0.00 0.00 0.00 0.17 0.00 0.00 0.09 0.14 0.01 0.01 0.03 0.01 0.02 0.01

Stock

1.25 0.36 0.38 0.25 0.20 0.24 0.29 0.04 0.12 0.10 0.55 0.68 0.77 0.96 0.28 0.26 0.19 3.23 4.09 0.76 0.60 2.70 0.12 0.15 6.98 5.60 0.48 0.60 0.72 6.23 7.93 2.12 0.80 0.55 0.34 1.41 1.33 0.25 0.06 0.09 0.16 0.20 0.65 0.04 8.48 0.54 0.70 0.21 0.30 0.65 0.78 1.98 1.87 0.24 0.31 2.11 2.69 17.50 14.31 2.82 3.43 1.10 0.91 0.39 0.28 0.80 0.51 1.36 1.09 0.08 0.22 1.05 0.25 0.27 0.10 0.19 1.68 1.85 0.19 0.24 0.04 0.40 0.20 1.44 1.73 0.11 0.15 0.88 0.06 0.08 9.44 0.12 0.17 1.98 2.49 0.10 0.12 0.41 0.32 0.15 0.13

0.08 0.19 0.06 0.04 0.12 0.04 0.05 0.03 0.06 0.05 0.08 0.10 0.09 0.12 0.14 0.08 0.06 1.55 1.98 0.29 0.23 1.21 0.04 0.05 2.03 1.70 0.13 0.17 0.53 3.40 4.86 0.13 0.50 0.12 0.15 0.85 0.67 0.13 0.03 0.04 0.07 0.09 0.29 0.01 4.71 0.12 0.15 0.06 0.08 0.27 0.37 0.47 0.48 0.12 0.16 0.71 0.89 9.01 7.13 0.43 0.54 0.20 0.16 0.12 0.09 0.21 0.17 0.65 0.43 0.03 0.08 0.37 0.01 0.12 0.06 0.07 0.10 0.35 0.07 0.09 0.02 0.04 0.05 0.70 0.89 0.07 0.05 0.17 0.02 0.03 4.13 0.03 0.03 0.73 0.90 0.04 0.04 0.22 0.16 0.07 0.06

B B2Gold Corp T 13534 B2Gold Corp* X 46101 Baden Res C 50 Bald Eagle V 792 Balto Res V 20 Bam Bam Res C 1142 Bam Bam Res* O 1124 Bannerman Egy* O 16950 Banyan Gold V 534 Banyan Gold* O 82 Barksdale Res* O 196 Barksdale Res V 342 Baroyeca Gold V 201 Baroyeca Gold* O 108 Barrick Gold T 16574 Barrick Gold* N 79645 Barsele Min* O 7 Barsele Min V 132 Baru Gold V 340 Baru Gold* O 208 Baselode Egy* O 1925 Baselode Egy V 2910 Basin Uranium C 984 Batero Gold V 74 Batero Gold* O 6 Bathurst Met V 54 Bathurst Metal* O 14 Battery Min V 97 Bayhorse Silvr* O 635 Bayhorse Silvr V 570 BC Moly V 7 BCM Res* O 362 BCM Res V 379 BE Res V 0 Bear Creek Mng V 310 Bear Creek Mng* O 233 Bearclaw Cap V 0 Bearing Lith V 519 Bearing Lith* O 168 Beauce Gold V 43 Bell Copper V 1023 Bell Copper* O 476 Belmont Res V 235 Belo Sun Mng T 567 Belo Sun Mng* O 1483 BeMetals * O 132 BeMetals V 562 Benchmark Met* O 88 Benchmark Met V 394 Benjamin Hill C 8 Benjamin Hill* O 92 Benton Res* O 108 Benton Res V 161 Benz Mining* O 17 Benz Mining V 232 Bessor Min V 11 Bird River Res C 99 Bitterroot Res* O 176 Bitterroot Res V 354 Black Hills* N 1615 Black Iron* O 75 Black Iron T 1735

(100s)

High Low

5.98 5.66 5.85 - 0.05 6.63 4.21 4.83 4.51 4.65 - 0.08 5.37 3.30 0.13 0.13 0.13 unch 0.00 0.20 0.12 0.09 0.00 0.08 - 0.01 0.13 0.04 0.08 0.00 0.08 - 0.03 0.23 0.04 0.07 0.06 0.07 unch 0.00 0.35 0.05 0.06 0.04 0.05 + 0.00 0.30 0.04 0.23 0.16 0.23 + 0.05 0.33 0.09 0.50 0.46 0.48 - 0.03 0.51 0.20 0.40 0.36 0.38 - 0.02 0.41 0.14 0.38 0.35 0.36 + 0.00 0.57 0.22 0.48 0.44 0.48 + 0.03 0.70 0.26 0.44 0.39 0.43 + 0.03 0.50 0.16 0.33 0.31 0.31 + 0.00 0.49 0.12 32.08 30.40 31.94 + 0.73 33.50 22.30 25.49 24.33 25.41 + 0.47 26.07 17.27 0.36 0.00 0.34 - 0.03 0.66 0.28 0.45 0.00 0.42 - 0.05 0.82 0.35 0.08 0.07 0.07 unch 0.00 0.15 0.06 0.07 0.05 0.06 + 0.00 0.12 0.05 1.03 0.83 0.98 + 0.10 1.23 0.32 1.30 1.03 1.23 + 0.12 1.54 0.40 0.55 0.42 0.54 + 0.10 1.08 0.42 0.09 0.00 0.09 unch 0.00 0.15 0.06 0.06 0.06 0.06 unch 0.00 0.12 0.04 0.12 0.00 0.10 unch 0.00 0.17 0.09 0.53 0.08 0.08 - 0.00 0.12 0.08 0.37 0.36 0.36 - 0.02 0.85 0.33 0.07 0.06 0.06 + 0.00 0.25 0.05 0.09 0.08 0.08 - 0.01 0.26 0.07 0.25 0.00 0.25 - 0.04 0.40 0.07 0.23 0.20 0.23 - 0.00 0.25 0.07 0.29 0.23 0.28 - 0.01 0.35 0.10 0.00 0.00 0.20 unch 0.00 0.20 0.20 1.13 1.03 1.10 + 0.04 2.42 0.92 0.90 0.82 0.88 + 0.03 1.92 0.74 0.00 0.00 0.21 unch 0.00 0.37 0.21 0.42 0.33 0.34 - 0.04 0.44 0.14 0.33 0.28 0.28 - 0.02 0.35 0.11 0.11 0.00 0.10 - 0.01 0.35 0.08 0.65 0.50 0.54 + 0.05 0.73 0.11 0.51 0.39 0.43 + 0.03 0.58 0.09 0.09 0.08 0.08 - 0.01 0.11 0.05 0.74 0.65 0.68 - 0.04 0.95 0.39 0.59 0.52 0.55 - 0.03 0.80 0.32 0.17 0.00 0.14 - 0.01 0.37 0.10 0.21 0.18 0.19 - 0.02 0.46 0.18 0.88 0.82 0.83 - 0.01 1.36 0.71 1.11 1.02 1.05 + 0.02 1.64 0.90 0.50 0.00 0.49 unch 0.00 0.67 0.31 0.42 0.36 0.42 + 0.04 0.50 0.25 0.18 0.12 0.16 - 0.02 0.37 0.07 0.22 0.00 0.20 - 0.02 0.25 0.14 0.56 0.53 0.53 - 0.05 0.79 0.41 0.74 0.00 0.68 unch 0.00 0.97 0.52 0.05 0.00 0.05 - 0.01 0.09 0.05 0.17 0.00 0.15 - 0.01 0.25 0.11 0.10 0.08 0.08 - 0.00 0.16 0.04 0.12 0.10 0.11 - 0.01 0.19 0.06 78.99 75.46 78.64 + 0.20 78.99 61.95 0.12 0.11 0.11 + 0.01 0.62 0.08 0.16 0.14 0.15 + 0.01 0.76 0.10

Exc Volume

Week High

Low

Black Mammoth* O 23 Black Mammoth V 3 Black Mountain V 6 Black Mountain* O 2 Black Tusk Res C 478 Black Tusk Res* O 22 Blackrock Silv V 1416 Blackrock Silv* O 1793 Blackwolf Cop V 81 Blackwolf Cop* O 96 Blind Creek V 293 Blue Lagoon* O 5136 Blue Lagoon C 3884 Blue Moon V 195 Blue Moon* O 223 Blue River Res V 73 Blue River Res* O 3 Blue Sky Uran V 2236 Blue Sky Uran* O 811 Blue Star Gold V 828 Blue Thunder V 269 BlueBird Batt V 253 BlueBird Batt* O 68 Bluejay Mining* O 1706 Bluestone Res V 494 Bluestone Res* O 14 BMEX Gold V 56 Bold Ventures* O 34 Bold Ventures V 116 Bolt Metals* O 34 Bolt Metals C 39 Bonanza Gold* O 24482 Bond Resources C 161 BonTerra Res V 201 Boreal Metals V 136 Boreal Metals* O 255 Borneo Res Inv* O 4556 Boundary Gold* O 1 Boundary Gold V 23 Brascan Gold C 570 Bravada Gold V 237 Bravada Gold* O 108 Braveheart Res V 289 Braveheart Res* O 728 Bravo Multinat* O 3 Brazil Min* O 44726 Brigadier Gold* O 26 Brigadier Gold V 212 BrightRock* O 1611 Brixton Metals* O 570 Brixton Metals V 306 Brookmount Exp* O 713 Brunswick Expl V 219 Bryn Res* O 71 BTU Metals* O 367 BTU Metals V 482 Buenaventura* N 6227 Buffalo Coal V 12 Buffalo Coal * O 9 Bullet Explor V 3 Bullion Gold* O 25 Bunker Hill C 566 Burrell Res C 20 BWR Explor V 57

0.15 0.18 0.38 0.31 0.03 0.02 1.26 1.02 0.63 0.55 0.08 0.59 0.73 0.04 0.03 0.02 0.02 0.32 0.25 0.51 0.04 0.07 0.06 0.14 2.15 1.62 0.13 0.07 0.10 0.11 0.15 0.01 0.04 1.20 0.09 0.07 0.00 0.03 0.03 0.25 0.05 0.04 0.10 0.08 0.05 0.01 0.03 0.04 0.11 0.15 0.18 0.13 0.18 0.03 0.07 0.09 10.92 0.03 0.03 0.06 0.07 0.30 0.21 0.05

0.14 0.00 0.00 0.31 0.02 0.02 1.04 0.83 0.53 0.42 0.06 0.49 0.61 0.00 0.00 0.00 0.02 0.28 0.22 0.38 0.00 0.06 0.05 0.11 1.89 1.51 0.00 0.07 0.00 0.00 0.00 0.00 0.04 1.10 0.00 0.06 0.00 0.03 0.00 0.17 0.00 0.04 0.00 0.07 0.00 0.01 0.03 0.03 0.09 0.13 0.17 0.11 0.00 0.02 0.06 0.08 9.62 0.00 0.00 0.00 0.01 0.28 0.20 0.00

C2C Gold* O 60 C3 Metals V 496 Cabral Gold* O 48 Cabral Gold V 443 Caledonia Mng* X 153 Calibre Mng* O 582 Calibre Mng T 5414 Califfi Cap V 0 Callinex Mines* O 37 Callinex Mines V 23 Cameco Corp* N 42621 Cameco Corp T 7120 Camino Min V 77 Camino Min* O 64 Camrova Res* O 28 Camrova Res V 0 Canada Carbon* O 30 Canada Carbon V 269 Canada Nickel V 2108 Canada Nickel* O 627 Canada One V 0 Canada Rare V 901 Canada Rare* O 494 Canada Silver V 2962 Canada Silver* O 1049 Canadian Metal* O 1 Canadian Metal C 45 Canadian Prem* O 9 Canadian Prem V 62 Canadian Silv V 150 Canagold Res T 229 Canagold Res* O 132 CanAlaska Uran V 1961 CanAlaska Uran* O 928 Canamera Energ C 40 Canasil Res V 704 Candelaria Mg* O 100 Candelaria Mg V 244 Candente Coppr T 475 Candente Gold* O 171 Candente Gold V 590 CANEX Metals * O 138 CANEX Metals V 2578 CaNickel Mng* O 0 CaNickel Mng V 29 Canoe Mng Vent V 129 Canstar Res* O 178 Canstar Res V 312 Canterra Min* O 33 Canterra Min V 38 Cantex Mn Dev* O 19 Cantex Mn Dev V 126 Canuc Res V 375 Canuc Res* O 7 Capella Min* O 41 Capella Min V 701 Capitan Mining V 835 Capitan Mining* O 842 Capstone Mng T 7507 Cariboo Rose V 28 Carlin Gold V 1 Carlyle Comm* O 6 Carrara Explor C 394 Cartier Iron C 318 Cartier Res* O 167 Cartier Res V 777 Casa Minerals V 85 Casa Minerals * O 2 Cascada Silver C 4437 Cascadero Copp V 164 Cassiar Gold V 475 Cassius Vents V 0 CAT Strategic C 3255 CAT Strategic* O 335 CAVU Mining* O 199 CAVU Mining C 303 Cdn Goldcamps C 43 4467 Cdn Manganese Cdn Palladium* O 677 Cdn Palladium C 1023 Centamin T 125 Centerra Gold T 2988 Central Afric V 289 Central Asia* O 50 Central Iron V 35 Centurion Mnls V 0 Century Cobalt* O 355 Century Global* O 92 Century Global T 64 Cerrado Gold V 108 Cerro de Pasc * O 150 Cerro de Pasc C 247 Cerro Grande C 14 Cerro Mng* O 4 Ceylon Graph* O 834 Ceylon Graph V 997 Chakana Copper V 504 Chakana Copper*O 352 Chalice Gold M* O 10

0.20 0.10 0.37 0.43 15.78 1.30 1.57 0.00 2.62 3.10 30.97 38.98 0.09 0.08 0.03 0.00 0.06 0.08 3.02 2.40 0.00 0.08 0.06 0.33 0.26 0.09 0.15 0.50 0.53 0.06 0.38 0.31 0.69 0.55 0.40 0.12 0.00 0.17 0.22 0.08 0.10 0.13 0.17 0.00 0.17 0.10 0.20 0.25 0.21 0.25 0.37 0.42 0.12 0.09 0.08 0.10 0.74 0.65 7.39 0.05 0.03 0.03 0.03 0.13 0.13 0.15 0.15 0.14 0.07 0.02 1.39 0.00 0.04 0.04 0.55 0.70 0.50 0.35 0.08 0.10 1.55 12.82 0.08 3.10 0.06 0.00 0.06 0.24 0.30 1.67 0.19 0.23 0.01 0.25 0.17 0.22 0.20 0.16 5.50

Last

12-month Change

Stock

0.18 0.22 0.60 0.51 0.05 0.04 1.30 1.08 1.51 1.75 0.13 0.61 0.74 0.09 0.08 0.03 0.02 0.37 0.29 0.90 0.08 0.18 0.15 0.24 2.30 1.79 0.29 0.09 0.12 0.36 0.45 0.04 0.13 1.54 0.33 0.23 0.02 0.07 0.08 0.69 0.12 0.10 0.14 0.12 0.29 0.02 0.15 0.18 0.13 0.22 0.25 0.96 0.29 0.06 0.19 0.17 12.44 0.06 0.04 0.45 0.20 0.42 0.53 0.08

Champion Bear* O Champion Bear V Champion Iron* O Champion Iron T Chatham Rock V Chatham Rock* O Chesapeake Gld* O Chesapeake Gld V Chevron Corp* N Chiboug Ind Mn V Chiboug Ind Mn* O Chilean Metals V Chilean Metals* O China Gold Int T Churchill Res V Cipher Mining* D O Clarity Gold* C Clarity Gold Class 1 Nickel C Clean Air Met V Clean Comm* O Cleghorn Min V Cleveland-Clif* N Cliffmont Res V O Clifton Mng* Clydesdale Res V O CMC Metals* V CMC Metals CMX Gold & Sil C Coast Copper V Cobalt Block* O V Cobalt Block N Coeur Mng* O Colibri Res* V Colibri Res Collective Mg* O V Crest Colombia Colombia Crest* O Colonial Coal V V Comet Inds Commander Res* O Commander Res V Commerce Res V Commerce Res* O Compass Gold* O Compass Gold V Comstock Mng* X Comstock Mtls V Comstock Mtls * O T Condor Gold Condor Gold* O O Condor Res* V Condor Res Conquest Res V Conquest Res * O Cons Uranium* O Cons Uranium V Cons Woodjam V CONSOL Energy* N CONSOL Energy* N Constantine Mt* O Constantine Mt V Contact Gold* O V Contact Gold V CopAur Min O CopAur Min* Copper Fox Mtl* O Copper Fox Mtl V Copper Lake Rs V Copper Mtn Mng T Copper Mtn Mng*O Copper One * O Copperbank Res C Cordoba Mnls* O Cordoba Mnls V C Core Assets Cornerstone Ca V Cornerstone Ca* O O Corsa Coal * V Corsa Coal Cortus Metals V CoTec Holdings V Crest Resource C Crest Resource* O Crestview Expl C Critical Elem* O V Critical Elem O Cross River* C Cross River Crown Mining V Crown Mining* O Cruz Battery* O C Cruz Battery Currie Rose Rs V CWN M’g Acq V Cyntar Venture C Cypress Dev* O V Cypress Dev

0.15 + 0.18 + 0.36 0.31 unch 0.03 unch 0.02 + 1.20 0.94 0.58 0.43 0.06 0.53 + 0.67 + 0.04 unch 0.03 + 0.01 unch 0.02 unch 0.31 + 0.25 + 0.40 + 0.03 0.06 0.05 0.12 2.02 1.56 0.12 0.07 unch 0.10 + 0.10 0.15 + 0.00 0.04 unch 1.11 0.09 0.07 0.00 + 0.03 unch 0.03 unch 0.20 0.05 + 0.04 + 0.09 unch 0.07 0.05 + 0.01 0.03 0.03 0.11 + 0.14 0.18 unch 0.11 + 0.18 + 0.02 0.06 0.08 unch 10.77 + 0.03 0.03 unch 0.06 0.07 0.29 unch 0.20 unch 0.05 +

0.00 0.04 0.01 0.00 0.00 0.00 0.03 0.04 0.03 0.06 0.02 0.07 0.08 0.00 0.00 0.00 0.00 0.03 0.02 0.06 0.01 0.01 0.01 0.02 0.06 0.03 0.01 0.00 0.01 0.01 0.02 0.00 0.00 0.03 0.01 0.00 0.00 0.00 0.00 0.04 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.00 0.00 0.02 0.00 0.00 0.00 0.45 0.01 0.00 0.01 0.01 0.00 0.00 0.01

0.06 0.08 0.28 0.20 0.02 0.01 0.69 0.54 0.50 0.00 0.05 0.26 0.33 0.03 0.02 0.01 0.00 0.16 0.12 0.31 0.03 0.05 0.03 0.08 1.28 1.01 0.08 0.05 0.07 0.08 0.10 0.00 0.04 0.94 0.09 0.06 0.00 0.02 0.03 0.16 0.04 0.03 0.07 0.05 0.02 0.00 0.01 0.03 0.02 0.10 0.13 0.08 0.11 0.01 0.05 0.07 6.11 0.01 0.01 0.06 0.00 0.17 0.20 0.03

0.20 + 0.10 0.34 0.43 + 15.62 + 1.21 1.52 0.15 unch 2.37 2.99 30.31 + 38.12 + 0.08 0.06 0.03 + 0.07 unch 0.06 + 0.07 unch 2.73 2.16 0.12 unch 0.07 + 0.05 + 0.29 unch 0.23 + 0.09 unch 0.15 + 0.50 unch 0.47 unch 0.05 0.36 0.29 0.66 + 0.52 + 0.40 + 0.11 0.13 unch 0.14 0.21 0.08 + 0.09 0.13 + 0.17 + 0.10 unch 0.17 + 0.10 unch 0.18 0.24 0.19 0.24 + 0.31 0.39 0.11 0.08 0.07 0.10 + 0.67 + 0.54 + 6.87 0.05 0.03 unch 0.03 unch 0.03 unch 0.11 0.12 0.15 + 0.14 0.14 unch 0.07 + 0.02 unch 1.27 0.08 unch 0.03 0.03 + 0.54 + 0.68 + 0.41 0.29 + 0.07 0.09 1.53 + 12.41 0.08 unch 3.10 unch 0.06 0.07 unch 0.06 + 0.23 + 0.30 + 1.67 + 0.18 0.23 unch 0.01 unch 0.25 0.15 0.19 0.20 0.16 5.25 -

0.02 0.48 0.11 0.01 0.25 0.08 0.00 0.63 0.26 0.01 0.66 0.34 0.39 16.93 10.51 0.03 2.02 0.79 0.04 2.36 1.11 0.00 0.20 0.11 0.11 3.90 1.75 0.12 4.80 2.19 1.28 30.97 15.34 1.79 38.98 19.50 0.01 0.27 0.07 0.01 0.21 0.06 0.02 0.12 0.00 0.00 0.07 0.07 0.01 0.20 0.00 0.00 0.25 0.06 0.20 4.20 2.18 0.19 3.50 1.72 0.00 0.12 0.05 0.01 0.10 0.05 0.00 0.08 0.04 0.00 0.47 0.16 0.01 0.39 0.11 0.00 0.30 0.00 0.02 0.39 0.11 0.00 0.53 0.19 0.00 0.63 0.21 0.01 0.11 0.04 0.02 0.70 0.35 0.01 0.55 0.28 0.06 0.84 0.39 0.04 0.67 0.30 0.03 0.50 0.32 0.01 0.18 0.09 0.00 0.51 0.12 0.03 0.66 0.14 0.01 0.26 0.11 0.01 0.12 0.04 0.01 0.20 0.05 0.03 0.13 0.07 0.05 0.17 0.09 0.00 0.21 0.09 0.02 0.26 0.11 0.00 0.20 0.08 0.01 0.51 0.16 0.01 0.61 0.20 0.01 0.37 0.16 0.01 0.50 0.21 0.06 0.76 0.20 0.03 0.96 0.24 0.01 0.30 0.10 0.01 0.22 0.08 0.01 0.10 0.01 0.01 0.12 0.08 0.15 0.74 0.18 0.12 0.65 0.13 0.38 7.79 4.14 0.01 0.08 0.04 0.00 0.06 0.03 0.00 0.18 0.02 0.00 0.04 0.02 0.02 0.16 0.07 0.00 0.27 0.01 0.01 0.33 0.13 0.02 0.35 0.11 0.00 0.27 0.10 0.03 0.13 0.03 0.00 0.05 0.02 0.13 1.48 0.35 0.00 0.17 0.07 0.01 0.07 0.03 0.01 0.15 0.00 0.03 1.18 0.17 0.09 0.65 0.36 0.24 2.80 0.38 0.15 0.50 0.10 0.01 0.15 0.04 0.01 0.19 0.05 0.04 2.10 1.38 0.15 13.52 8.21 0.00 0.28 0.07 0.00 3.29 3.05 0.01 0.08 0.04 0.00 0.07 0.07 0.01 0.07 0.01 0.02 0.34 0.16 0.02 0.42 0.14 0.11 1.89 0.97 0.00 0.34 0.17 0.00 0.43 0.21 0.00 0.03 0.01 0.01 0.29 0.22 0.01 0.22 0.09 0.02 0.27 0.12 0.01 0.56 0.18 0.00 0.44 0.14 0.06 7.69 4.16

C 0.19 0.09 0.32 0.39 14.55 1.11 1.45 0.00 2.26 2.88 27.51 34.43 0.00 0.00 0.00 0.00 0.05 0.07 2.67 2.13 0.00 0.06 0.05 0.28 0.22 0.09 0.14 0.45 0.00 0.00 0.36 0.29 0.57 0.45 0.00 0.00 0.00 0.14 0.21 0.07 0.00 0.10 0.12 0.00 0.00 0.00 0.17 0.22 0.18 0.00 0.31 0.38 0.10 0.08 0.06 0.00 0.51 0.41 6.50 0.00 0.00 0.03 0.03 0.11 0.10 0.14 0.00 0.14 0.04 0.00 1.21 0.00 0.03 0.02 0.46 0.58 0.00 0.14 0.07 0.09 1.49 12.03 0.07 3.10 0.00 0.00 0.04 0.21 0.00 1.55 0.17 0.21 0.00 0.00 0.15 0.19 0.18 0.15 5.10

(100s)

High Low

Exc Volume

Week High

79 105 417 3448 164 7 50 69 46203 100 12 894 198 110 268 1336 159 74 64 2223 59 5 82307 0 503 54 647 629 16 375 79 367 21393 484 422 3 2664 27 440 4 0 41 624 106 50 36 4956 16 46 10 1 2 223 158 253 293 810 722 3880 16255 430 199 26 311 154 179 150 330 570 4919 632 2163 312 37 47 1318 65 3 1230 2435 221 0 543 0 134 238 1665 22 472 652 956 744 1175 849 0 86 1493 1753

0.15 0.21 6.02 7.59 0.24 0.17 3.00 3.75 171.10 0.19 0.14 0.20 0.15 4.88 0.40 3.78 0.16 0.20 0.26 0.30 0.15 0.09 34.04 0.00 0.18 0.10 0.18 0.22 0.10 0.14 0.02 0.04 4.91 0.07 0.08 2.90 0.97 0.75 2.12 3.95 0.00 0.16 0.32 0.25 0.13 0.17 1.85 0.10 0.09 0.62 0.37 0.09 0.14 0.06 0.05 2.19 2.79 0.14 41.40 21.42 0.34 0.40 0.04 0.05 1.34 1.08 0.23 0.29 0.13 3.91 3.14 0.05 0.82 0.45 0.54 0.83 5.00 3.85 0.60 0.75 0.09 0.00 0.06 0.00 0.23 1.42 1.73 0.12 0.15 0.07 0.06 0.24 0.31 0.05 0.00 0.47 1.53 1.91

382 Dajin Lithium* O 385 V Dajin Res 110 Damara Gold* O Damara Gold V 1944 54 O Danakali* 557 V Decade Res 110 O Decade Res* 45 Deep-South Res* O 254 Deep-South Res V DeepRock Min C 1335 320 Defense Metals* O 639 Defense Metals V 628 Defiance Silvr V 617 Defiance Silvr* O 28 V Delrand Res 179 Denarius Metal V Denison Mines T 21195 Denison Mines* X 69596 10 O Desert Gold* V 2480 Desert Gold 925 Desert Mtn Egy V 3 Diamante Min* O 401 Diamcor Mng V 383 Diamcor Mng* O 0 Diamond Fields V 406 V Dios Expl 75 Discovery Harb* O 651 Discovery Harb V Discovery Silv V 2279 827 Discovery Silv* O 0 Discovery-Corp V 7 O District Cop* 136 V District Cop 43 District Metal* O 211 District Metal V 10 District Mines V 75 V Dixie Gold 53 DLP Resouces V 25 DLP Resouces* O 656 Dolly Vard Sil V 507 Dolly Vard Sil* O 138 V Dore Copper 197 Doubleview Gld V 121 Doubleview Gld* O 1184 N DRDGOLD* Dundee Prec Mt T 2705 805 Durango Res* O V 1068 Durango Res 0 DV Resources V 208 Dynacor Gld Mn T 16 Dynacor Gld Mn* O 31 DynaResource* O 19 Dynasty Gold V 116 Dynasty Gold* O V 2273 E2Gold Inc 138 O E2Gold Inc* 213 O E3 Metals* 760 V E3 Metals 377 E79 Resources C 200 E79 Resources* O 69 Eagle Graphite V 212 Eagle Graphite* O 451 V Eagle Plains 0 V Earl Res 365 V East Africa

1.00 1.18 0.08 0.10 0.25 0.04 0.03 0.05 0.07 0.06 0.24 0.30 0.63 0.51 0.03 0.50 2.30 1.83 0.09 0.13 4.43 0.03 0.30 0.24 0.00 0.07 0.02 0.03 1.96 1.57 0.00 0.31 0.38 0.22 0.25 0.12 0.19 0.24 0.16 0.88 0.69 0.87 0.32 0.26 9.74 7.82 0.08 0.09 0.00 3.47 2.78 2.03 0.18 0.13 0.09 0.07 2.13 2.70 0.48 0.38 0.21 0.15 0.18 0.00 0.28

Low

Last

12-month Change

0.00 0.15 + 0.00 0.20 + 5.48 5.65 6.95 7.09 0.20 0.23 + 0.17 0.17 + 2.54 2.59 3.16 3.25 163.00 169.93 + 0.00 0.19 unch 0.14 0.14 unch 0.17 0.17 0.13 0.14 4.51 4.85 + 0.00 0.34 3.43 3.46 0.13 0.14 + 0.17 0.18 + 0.21 0.21 0.25 0.29 + 0.14 0.15 + 0.00 0.09 + 27.50 30.77 0.00 0.10 unch 0.13 0.17 0.00 0.10 + 0.15 0.16 0.19 0.21 0.00 0.10 unch 0.12 0.13 unch 0.00 0.02 unch 0.00 0.03 unch 4.34 4.63 0.06 0.06 0.00 0.08 unch 2.79 2.90 unch 0.70 0.85 + 0.59 0.73 + 1.94 1.99 0.00 3.95 + 0.00 0.13 unch 0.15 0.16 unch 0.28 0.32 + 0.22 0.25 + 0.13 0.13 unch 0.00 0.17 + 1.50 1.53 0.00 0.09 0.07 0.07 0.00 0.62 + 0.37 0.37 unch 0.00 0.09 unch 0.00 0.13 + 0.00 0.06 0.04 0.04 1.89 2.07 + 2.36 2.60 + 0.00 0.14 + 35.00 38.84 + 20.33 21.00 0.29 0.30 0.37 0.37 0.04 0.04 0.00 0.05 unch 1.16 1.33 + 0.95 1.07 + 0.21 0.22 + 0.27 0.28 + 0.12 0.12 3.45 3.61 2.75 2.87 0.04 0.04 0.75 0.77 0.38 0.38 0.00 0.49 0.52 0.79 + 4.50 4.75 + 0.00 3.85 + 0.56 0.58 0.70 0.71 0.08 0.08 0.00 0.64 unch 0.00 0.06 0.00 0.05 unch 0.22 0.22 unch 1.22 1.32 + 1.55 1.64 + 0.10 0.11 0.12 0.12 0.06 0.07 0.05 0.05 0.21 0.22 0.27 0.28 0.00 0.05 unch 0.00 0.08 unch 0.40 0.47 + 1.31 1.32 1.63 1.65 -

High Low

0.01 0.15 0.05 0.03 0.21 0.08 0.17 6.02 2.94 0.27 7.59 3.71 0.03 0.24 0.09 0.01 0.18 0.08 0.31 4.00 1.98 0.37 4.79 2.54 5.71 174.76 92.86 0.00 0.46 0.15 0.00 0.36 0.12 0.02 0.30 0.12 0.01 0.23 0.09 0.39 4.80 3.02 0.01 0.45 0.16 0.16 15.39 2.33 1.41 0.11 0.00 1.77 0.16 0.01 0.05 0.75 0.10 0.04 0.42 0.17 0.01 0.39 0.00 0.17 0.08 0.01 1.59 34.04 15.81 0.00 0.23 0.09 0.03 0.28 0.13 0.05 0.08 0.05 0.02 0.18 0.03 0.02 0.22 0.08 0.00 0.12 0.05 0.17 0.09 0.00 0.00 0.10 0.02 0.00 0.12 0.03 0.03 11.14 4.12 0.01 0.16 0.01 0.17 0.07 0.00 0.00 3.50 1.89 0.12 0.97 0.10 0.13 0.75 0.08 0.09 3.73 0.50 0.45 4.00 2.80 0.00 0.21 0.08 0.00 0.32 0.11 0.03 0.40 0.19 0.01 0.33 0.15 0.00 0.19 0.11 0.01 0.25 0.11 0.32 4.97 1.24 0.11 0.08 0.02 0.02 0.09 0.03 0.07 1.08 0.48 0.00 0.79 0.35 0.00 0.20 0.01 0.02 0.25 0.11 0.01 0.20 0.05 0.00 0.16 0.04 0.01 2.67 1.26 0.05 3.29 1.55 0.03 0.24 0.08 0.07 41.40 8.65 0.02 21.70 10.41 0.02 0.60 0.17 0.02 0.77 0.22 0.00 0.10 0.03 0.11 0.04 0.00 1.70 0.65 0.03 1.34 0.60 0.03 0.00 0.53 0.15 0.01 0.66 0.20 0.01 0.21 0.04 0.15 5.07 2.70 0.13 4.20 2.07 0.00 0.20 0.03 0.04 0.96 0.35 1.07 0.01 0.04 1.34 0.45 0.05 0.22 0.64 0.07 0.20 5.00 3.46 3.91 0.65 0.10 0.01 0.87 0.26 1.10 0.33 0.03 0.01 0.18 0.08 0.00 0.68 0.15 0.01 0.29 0.06 0.00 0.25 0.04 0.00 0.73 0.22 0.11 1.65 0.87 0.12 1.98 1.13 0.01 0.23 0.02 0.02 0.22 0.11 0.01 0.33 0.06 0.00 0.29 0.04 0.02 0.27 0.06 0.02 0.34 0.08 0.00 0.15 0.03 0.00 0.10 0.07 0.06 0.99 0.37 2.13 0.68 0.09 0.12 2.61 0.83

D-F 0.74 0.92 0.06 0.07 0.22 0.00 0.00 0.05 0.00 0.00 0.21 0.26 0.54 0.44 0.00 0.45 1.93 1.53 0.08 0.10 3.55 0.00 0.00 0.22 0.00 0.00 0.02 0.00 1.71 1.35 0.00 0.28 0.00 0.18 0.22 0.00 0.00 0.00 0.16 0.78 0.62 0.75 0.00 0.24 8.74 7.39 0.06 0.08 0.00 3.10 2.50 1.37 0.00 0.13 0.07 0.05 1.86 2.33 0.41 0.32 0.18 0.13 0.00 0.00 0.23

0.91 + 1.14 + 0.06 0.07 0.23 0.04 unch 0.03 + 0.05 unch 0.07 unch 0.06 + 0.23 0.28 0.58 0.45 0.03 unch 0.45 2.21 + 1.75 + 0.08 0.10 4.01 + 0.03 + 0.27 0.22 0.19 unch 0.07 + 0.02 unch 0.03 + 1.76 1.41 0.10 unch 0.28 0.35 0.20 + 0.23 0.12 0.18 unch 0.22 0.16 unch 0.79 0.63 0.78 0.31 + 0.24 + 9.13 7.80 + 0.07 + 0.08 0.08 unch 3.30 2.59 1.50 0.17 unch 0.13 unch 0.07 0.06 2.13 + 2.70 + 0.42 0.33 0.19 0.14 0.17 0.45 unch 0.28 +

0.18 0.22 0.01 0.02 0.01 0.00 0.01 0.00 0.00 0.01 0.00 0.01 0.02 0.03 0.00 0.04 0.17 0.11 0.01 0.02 0.38 0.00 0.01 0.00 0.00 0.01 0.00 0.01 0.16 0.12 0.00 0.05 0.05 0.01 0.03 0.03 0.00 0.01 0.00 0.04 0.03 0.08 0.02 0.02 0.62 0.11 0.00 0.01 0.00 0.09 0.15 0.40 0.00 0.00 0.02 0.01 0.26 0.31 0.05 0.04 0.01 0.01 0.01 0.00 0.05

2.45 1.31 0.10 0.13 0.44 0.07 0.06 0.23 0.28 0.11 0.41 0.50 1.07 0.91 0.11 0.73 2.64 2.14 0.17 0.20 4.95 0.06 0.52 0.43 0.59 0.13 0.10 0.11 2.70 2.23 0.12 0.34 0.45 0.55 0.59 0.40 0.35 0.34 0.27 0.88 0.70 1.28 1.18 1.22 13.18 9.72 0.08 0.09 0.16 3.50 2.80 2.45 0.27 0.20 0.30 0.24 2.82 3.49 1.65 1.34 0.22 0.16 0.19 0.45 0.45

0.00 0.50 0.00 0.05 0.21 0.04 0.01 0.03 0.04 0.03 0.16 0.21 0.37 0.28 0.02 0.38 1.17 0.92 0.08 0.11 1.65 0.03 0.10 0.08 0.16 0.05 0.02 0.03 1.19 0.90 0.07 0.09 0.11 0.14 0.19 0.11 0.17 0.17 0.14 0.42 0.33 0.61 0.20 0.06 7.51 6.99 0.03 0.04 0.07 2.17 1.65 0.60 0.14 0.11 0.07 0.05 1.24 1.53 0.24 0.07 0.10 0.00 0.14 0.45 0.14

GLOBAL MINING NEWS

(100s) Stock

Exc Volume

Eastern Platin T Eastern Platin* O Eastfield Res* O Eastfield Res V Eco Oro Min C Eco Oro Min* O Edgemont Gold C Edgewater Expl V Edison Battery V Edison Battery* O EEE Explor C El Nino Vent V Elcora Adv Mat V Elcora Res* O Eldorado Gold* N Eldorado Gold T Element 29* O Element79 C Elevation Gold V Elevation Gold* O Eloro Res* O Eloro Res V Elysee Dev V Elysee Dev * O Emerita Res V Emerita Res* O Emgold Mining V Eminent Gold V Eminent Gold* O EMP Metals* O EMP Metals C Emperor Metals C EMX Royalty V EMX Royalty* X Encanto Potash V EnCore Energy V Endeavour Mng T Endeavr Silver* N Endeavr Silver T Endurance Gold* O Endurance Gold V Enduro Metals V Enduro Metals* O Energy Fuels T Energy Fuels* X Engineer Gold V Engineer Gold* O Engold Mines V Engold Mines* O Entree Res* O Entree Res T Equinox Gold* X Equinox Gold T Equity Metals* O Equity Metals V Erdene Res Dev T Erdene Res Dev* O Erin Ventures* O Erin Ventures V Ero Copper T Ero Copper* N Eros Res Corp* O Eros Res Corp V Eros Res Corp V Eskay Mng* O Eskay Mng V Essex Minerals V Essex Minerals* O Ethos Gold* O Ethos Gold V Etruscus Res* O Etruscus Res C Euro Manganese V Euro Manganese*O Euro Sun Mg T Euro Sun Mg* O EurOmax Res T EurOmax Res* O European Elect* O European Elect V European Metal* O Evergold V Evergold* O Everton Res* O EVI Global Grp C Evrim Res V Excellon Res* X Excellon Res T Excelsior Mng* O Excelsior Mng T ExGen Res Inc V Exploits Disc* O Fabled Silver V Fabled Silver* O Fairchild Gold V Fairmont Res* O Falco Res V Falco Res * O Falcon Gold V Falcon Gold* O Fancamp Expl V Fathom Nickel C Fathom Nickel* O FenixOro Gold* O FenixOro Gold C Fidelity Min* O Fidelity Min V Filo Mg Corp T Filo Mg Corp * O Finlay Minrls V FireFox Gold* O FireFox Gold V Firestone Vent V Fireweed Zinc* O Fireweed Zinc V First Cobalt V First Energy C First Energy* O First Idaho V First Majestic* N First Majestic T First Mg Fin * O First Mg Fin T First Point* O First Quantum T First Tellur C First Tellur* O Fission 3.0 V Fission 3.0* O Fission Uran* O Fission Uran T Five Star Diam V Five Star Diam* O Fjordland Exp* O Fjordland Exp V Flow Metals C Focus Graphite* O Focus Graphite V Fokus Mining V Foran Mining* O Foran Mining V Foremost Lith C Foremost Lith* O Forsys Metals T Fort St James V Fortescue Met* O Fortuna Silvr* N Fortuna Silvr T Fortune Bay* O Fortune Bay V Fortune Min* O Fortune Min T Forty Pillars C Forum Energy* O Forum Energy V Fosterville V Founders Metal V Four Nines C Fox River Res C FPX Nickel V Franco-Nevada* N Franco-Nevada T Franklin Mng* O Fredonia Mg V Freegold Vent T Freeman Gold* O Freeport McMoR* N Freeport Res V Fremont Gold V Frontier Lith V Frontline Gold V Full Metal Mnl V

43 27 488 208 57 62 1837 0 2241 323 273 0 401 9 8228 1860 13 759 2056 132 222 558 75 12 1881 593 492 46 15 21 52 310 63 874 3802 4336 3448 16497 2044 43 82 642 144 4114 24098 23 100 47 79 178 467 8062 2623 395 581 735 67 0 457 1701 352 4 153 153 342 368 383 17 288 170 63 194 304 126 230 78 9 52 9 16 25 140 53 12 631 139 667 231 386 1694 74 598 1602 154 281 75 156 6 757 800 393 412 142 652 528 300 94 1641 105 1797 805 1110 0 68 258 11691 709 617 0 23898 2847 1920 2216 446 7970 707 576 2353 712 2637 16828 1495 20 160 439 100 2827 3550 124 95 698 2053 344 1847 4 29 25626 4792 30 141 83 501 177 1592 941 171 0 755 269 490 2925 1569 669 176 1673 1615 59560 42 194 4558 12 47

THE NORTHERN MINER / APRIL 18—MAY 1, 2022

Week High

0.32 0.25 0.09 0.10 0.11 0.09 0.09 0.00 0.15 0.12 0.15 0.00 0.06 0.05 11.76 14.58 0.48 1.05 0.40 0.31 4.19 5.22 0.83 0.67 2.86 2.29 0.19 0.69 0.56 0.39 0.41 0.20 2.92 2.27 0.13 1.85 32.78 5.03 6.22 0.32 0.41 0.27 0.22 12.58 10.03 0.04 0.03 0.25 0.52 0.95 1.19 8.79 10.90 0.11 0.14 0.49 0.39 0.00 0.06 20.23 16.09 0.08 0.10 0.10 1.99 2.52 0.05 0.04 0.16 0.62 0.14 0.19 0.45 0.34 0.23 0.18 0.08 0.07 0.06 0.08 0.05 0.13 0.11 0.07 0.06 0.47 0.90 1.15 0.30 0.38 0.12 0.24 0.11 0.09 0.19 0.07 0.32 0.25 0.11 0.11 0.12 0.22 0.19 0.22 0.27 0.07 0.10 23.26 18.48 0.11 0.17 0.20 0.00 0.64 0.81 0.36 0.28 0.21 0.00 13.99 17.33 0.24 0.29 0.70 45.38 0.23 0.19 0.19 0.15 0.91 1.09 0.07 0.05 0.09 0.13 0.04 0.08 0.09 0.09 2.19 2.74 0.32 0.25 0.90 0.13 16.62 4.11 5.18 0.67 0.69 0.12 0.14 0.16 0.21 0.27 0.65 0.00 0.75 0.62 0.85 166.89 209.76 0.02 0.22 0.54 0.45 51.78 0.10 0.03 3.74 0.03 0.12

Low

Last

12-month Change

0.00 0.31 0.00 0.25 0.06 0.06 0.07 0.07 0.00 0.11 0.08 0.09 0.07 0.08 + 0.00 0.16 unch 0.13 0.13 unch 0.10 0.10 0.15 0.15 unch 0.00 0.04 unch 0.05 0.06 unch 0.00 0.05 + 10.83 11.49 13.59 14.44 + 0.45 0.47 1.01 1.02 0.35 0.38 0.28 0.30 3.60 3.66 4.54 4.60 0.78 0.79 0.00 0.62 2.33 2.53 1.87 1.99 0.00 0.17 0.00 0.60 0.47 0.47 0.00 0.32 0.00 0.40 0.14 0.14 2.52 2.69 2.00 2.14 0.08 0.09 1.53 1.81 + 30.42 32.67 + 4.44 4.91 + 5.57 6.15 + 0.30 0.30 0.00 0.39 unch 0.24 0.27 + 0.20 0.21 + 10.72 12.25 + 8.54 9.72 + 0.00 0.03 0.03 0.03 unch 0.21 0.22 0.00 0.52 + 0.89 0.93 + 1.10 1.17 + 8.00 8.56 + 10.03 10.76 + 0.10 0.11 + 0.13 0.13 0.44 0.46 0.33 0.35 0.00 0.05 unch 0.00 0.06 17.90 20.23 + 14.27 16.06 + 0.07 0.07 0.00 0.09 0.00 0.09 1.80 1.94 2.27 2.49 + 0.00 0.05 unch 0.04 0.04 + 0.14 0.15 0.18 0.56 0.13 0.14 + 0.16 0.17 + 0.42 0.44 + 0.32 0.34 + 0.20 0.21 0.15 0.17 0.00 0.08 unch 0.06 0.07 unch 0.05 0.05 0.00 0.07 + 0.00 0.04 0.00 0.12 unch 0.00 0.10 0.06 0.07 unch 0.05 0.05 0.46 0.46 0.80 0.83 + 1.01 1.06 + 0.24 0.26 0.31 0.33 0.00 0.12 + 0.18 0.19 0.10 0.10 unch 0.08 0.08 0.00 0.19 + 0.04 0.04 0.31 0.32 0.00 0.25 0.10 0.11 unch 0.08 0.09 + 0.00 0.12 + 0.20 0.21 + 0.15 0.17 0.17 0.19 0.22 0.24 0.07 0.07 unch 0.00 0.10 unch 20.00 23.09 + 15.95 18.33 + 0.08 0.09 0.12 0.13 0.16 0.17 0.00 0.11 unch 0.58 0.61 0.72 0.76 0.30 0.32 + 0.24 0.24 0.19 0.20 + 0.00 0.09 unch 12.79 13.47 16.05 16.93 0.21 0.23 + 0.28 0.28 + 0.62 0.64 40.54 40.76 0.18 0.18 0.14 0.14 0.15 0.19 + 0.12 0.15 + 0.70 0.83 + 0.86 1.04 + 0.05 0.06 + 0.05 0.05 + 0.00 0.09 + 0.10 0.11 0.00 0.04 unch 0.06 0.07 + 0.07 0.08 + 0.00 0.09 + 2.00 2.04 2.50 2.59 0.26 0.27 0.20 0.21 0.79 0.90 + 0.00 0.13 + 16.00 16.41 + 3.73 4.09 + 4.68 5.13 + 0.00 0.52 0.55 0.64 0.11 0.11 0.13 0.14 unch 0.13 0.15 + 0.19 0.20 + 0.23 0.25 0.61 0.62 0.00 0.50 unch 0.66 0.70 unch 0.54 0.62 + 0.79 0.80 unch 160.17 166.36 + 200.16209.09 + 0.02 0.02 + 0.00 0.20 0.48 0.51 + 0.38 0.43 + 47.44 48.97 0.00 0.10 + 0.02 0.03 + 3.13 3.29 + 0.00 0.02 0.00 0.12 -

0.01 0.02 0.02 0.03 0.04 0.03 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.02 0.02 0.01 0.01 0.02 0.01 0.41 0.48 0.03 0.04 0.26 0.25 0.01 0.10 0.08 0.03 0.05 0.01 0.06 0.07 0.03 0.22 1.06 0.09 0.14 0.01 0.00 0.02 0.01 0.58 0.37 0.01 0.00 0.01 0.33 0.02 0.04 0.05 0.09 0.00 0.01 0.03 0.04 0.00 0.01 0.71 0.48 0.00 0.01 0.01 0.02 0.04 0.00 0.00 0.31 0.01 0.01 0.01 0.03 0.01 0.01 0.00 0.00 0.00 0.01 0.01 0.00 0.00 0.00 0.00 0.01 0.01 0.02 0.03 0.04 0.05 0.02 0.02 0.00 0.01 0.03 0.01 0.01 0.00 0.00 0.01 0.01 0.01 0.02 0.04 0.04 0.00 0.00 1.98 1.48 0.01 0.02 0.03 0.00 0.02 0.02 0.02 0.01 0.00 0.00 0.11 0.07 0.00 0.01 0.00 3.66 0.03 0.03 0.04 0.03 0.09 0.12 0.01 0.01 0.00 0.02 0.00 0.01 0.02 0.01 0.13 0.11 0.04 0.03 0.09 0.01 0.57 0.13 0.20 0.08 0.06 0.00 0.00 0.02 0.01 0.01 0.02 0.00 0.00 0.07 0.00 2.69 4.33 0.00 0.04 0.01 0.04 1.99 0.01 0.01 0.09 0.01 0.01

High Low

0.41 0.34 0.09 0.10 0.20 0.16 0.30 0.25 0.24 1.00 0.25 0.05 0.15 0.12 12.33 15.25 0.59 1.65 2.64 2.19 4.63 5.44 0.88 0.74 4.14 3.35 0.85 1.05 1.00 0.42 0.84 0.29 4.45 3.67 0.21 2.27 35.94 7.76 9.32 0.37 0.45 0.29 0.24 14.33 11.39 0.08 0.51 0.55 0.52 0.95 1.19 9.55 11.49 0.24 0.30 0.50 0.41 0.16 0.20 29.76 22.30 0.10 0.14 0.14 2.93 3.55 0.25 0.14 1.50 1.80 0.30 0.38 0.72 0.68 0.47 0.39 0.12 0.08 0.19 0.24 0.13 0.43 0.44 0.42 0.12 0.58 3.20 4.00 0.77 0.89 0.14 1.35 0.20 0.17 0.20 0.37 0.47 0.39 0.13 0.15 0.17 0.88 0.44 0.32 0.40 0.11 0.13 21.90 17.60 0.20 0.35 0.40 0.30 0.75 0.91 0.43 0.40 0.32 0.10 18.93 22.73 0.42 0.50 0.75 45.38 0.71 1.00 0.30 0.24 1.00 1.25 0.07 0.05 0.11 0.14 0.07 0.16 0.16 0.22 2.42 3.09 0.44 0.42 1.30 0.50 19.55 7.98 9.97 0.86 1.05 0.15 0.19 0.76 0.47 0.56 1.77 0.55 0.79 0.73 0.96 168.37 216.32 0.15 0.37 0.89 0.47 51.99 0.25 0.06 3.74 0.04 0.65

0.27 0.19 0.04 0.06 0.05 0.04 0.07 0.15 0.05 0.01 0.14 0.03 0.05 0.04 7.46 9.52 0.28 0.67 0.35 0.28 2.40 3.06 0.57 0.46 0.21 0.18 0.15 0.42 0.43 0.09 0.22 0.08 2.35 1.85 0.04 0.95 25.50 3.35 4.28 0.15 0.19 0.17 0.14 5.55 4.32 0.03 0.02 0.20 0.15 0.57 0.71 5.47 6.99 0.07 0.09 0.33 0.26 0.04 0.05 15.01 11.76 0.05 0.08 0.08 1.57 1.92 0.04 0.04 0.41 0.48 0.07 0.10 0.35 0.28 0.18 0.14 0.05 0.04 0.04 0.06 0.03 0.11 0.02 0.00 0.05 0.33 0.61 0.76 0.24 0.31 0.08 0.16 0.07 0.05 0.10 0.00 0.22 0.11 0.06 0.04 0.09 0.15 0.13 0.14 0.15 0.07 0.05 3.07 2.45 0.06 0.12 0.16 0.11 0.39 0.50 0.26 0.14 0.12 0.09 9.29 11.87 0.20 0.26 0.05 20.67 0.05 0.02 0.08 0.06 0.35 0.45 0.03 0.03 0.05 0.07 0.03 0.04 0.06 0.08 0.92 1.11 0.10 0.07 0.58 0.12 10.25 2.91 3.77 0.00 0.52 0.07 0.10 0.13 0.11 0.15 0.60 0.26 0.44 0.25 0.42 124.95 158.27 0.01 0.13 0.32 0.23 30.02 0.07 0.02 0.69 0.02 0.11

(100s) Stock

Week High

Low

25 453 1253 893 824

0.10 0.85 0.68 0.06 0.08

0.10 0.74 0.59 0.06 0.07

G2 Goldfields* O 32 G2 Goldfields V 725 Gabriel Res* O 52 Gabriel Res V 203 Galane Gold * O 783 Galane Gold V 1014 Galantas Gold* O 148 Galantas Gold V 128 Galiano Gold T 215 Galiano Gold* X 2591 Galleon Gold V 224 Galore Res V 0 Galway Gold * O 16 Galway Gold V 1 Galway Mtls* O 108 Galway Mtls V 346 Gambier Gold V 114 Gambier Gold* O 1577 Garibaldi Res * O 103 Garibaldi Res V 2053 Gatling Explor V 312 Gatling Explor* O 71 Gatos Silver T 232 Gatos Silver* N 3607 GCM Mining* O 248 GCM Mining T 1945 General Gold C 0 Generation Min T 1338 Generation Min* O 188 Generic Gold* O 4 Generic Gold C 25 Genesis Mtls* O 74 Genesis Mtls V 314 Gensource Pot V 909 Gentor Res V 0 Geomega Res V 914 Geomega Res* O 328 Getchell Gold C 251 Getchell Gold * O 226 Getty Copper V 76 GFG Resources V 1409 GFG Resources* O 1191 GFM Res V 6 GGL Res V 217 GGL Res* O 161 GGX Gold* O 1 GGX Gold V 146 Giga Metals V 527 Giga Metals* O 538 Gitennes Expl V 22 Gitennes Expl * O 1 Giyani Gold* O 34 Giyani Gold V 584 GK Resources V 0 Glacier Lake V 20 Gladiator Met V 13 Glen Eagle Res* O 59 Glen Eagle Res V 799 Glencore Plc * O 464 Glencore Plc* O 2291 Global Atomic* O 906 Global Atomic T 2972 Global Battery V 1885 Global Battery* O 2135 Global Energy* O 154 Global Energy V 34 Global Li-Ion C 515 Global Li-Ion* O 63 GlobalMin Vent* O 0 Globex Mng* O 66 Globex Mng T 696 GMV Minerals* O 126 GMV Minerals V 86 GNCC Capital* O 350431 Go Cobalt* O 47 Go Cobalt C 153 GobiMin V 4 GoGold Res T 2553 Golcap Res C 134 Gold Basin Res* O 0 Gold Bull Res V 3511 Gold Bull Res* O 412 Gold Fields* O 0 Gold Fields* N 30361 Gold Finder Ex V 1119 Gold Finder Ex* O 307 Gold Hunter Rs C 83 Gold Line Res V 1958 Gold Lion Res* O 14 Gold Lion Res C 62 Gold Mountain* O 300 Gold Mountain T 619 Gold Port C 1450 Gold Reserve* O 7 Gold Reserve V 12 Gold Resource* X 3638 Gold Royalty* X 5445 Gold State Res* O 18 Gold State Res V 365 Gold Std Vents T 109 Gold Std Vents* X 1373 Gold’n Futures C 221 Gold79 Mines V 295 Gold79 Mines* O 25 Goldbank Mng V 0 Goldcliff Res* O 55 Goldcliff Res V 201 Golden Arrow* O 822 Golden Arrow V 225 Golden Dawn Ml* O 5 Golden Dawn Ml V 14 Golden Goliath* O 120 Golden Goliath V 237 Golden Harp* O 1 Golden Harp V 7 Golden Hope V 109 Golden Hope* O 15 Golden Indepen C 772 Golden Indepe* O 148 Golden Lake C 993 Golden Mnls T 83 Golden Mnls* X 2925 Golden Pursuit* O 105 Golden Pursuit V 156 Golden Ridge V 114 Golden Secret V 106 Golden Share V 36 Golden Spike C 23 Golden Star* O 3 Golden Tag V 668 Golden Tag* O 398 Goldex Res* O 37 Goldex Res V 3 Goldflare Expl V 22 Goldgroup Mng* O 10 Goldgroup Mng T 1021 GoldHaven Res* O 296 Goldhills Hldg V 0 Goldhills Hldg* O 1 GoldMining T 1007 GoldON Res V 110 GoldON Res* O 14 Goldplay Min V 13 GoldQuest Mng V 309 Goldrea Res C 61 Goldrea Res* O 3 Goldrich Mng* O 992 Goldseek Res C 50 Goldshore Res* O 154 Goldshore Res V 627 Goldsource Min* O 49 Goldsource Min V 77 Goldstar Mnls* O 5 Goldstar Mnls V 276 Goliath Res* O 262 Goliath Res V 408 Gossan Res V 228 GoviEx Uranium* O 747 GoviEx Uranium V 5780 Gowest Gold* O 46 Gowest Gold V 89 GPM Metals V 27 GR Silver* O 779 GR Silver V 1269 Granada Gold* O 51

0.63 0.80 0.16 0.19 0.14 0.18 0.53 0.66 0.68 0.55 0.59 0.00 0.13 0.15 0.48 0.60 0.06 0.04 0.53 0.65 0.36 0.28 6.23 4.94 4.55 5.75 0.00 1.02 0.80 0.11 0.28 0.09 0.12 0.39 0.00 0.32 0.26 0.49 0.39 0.06 0.20 0.16 0.09 0.14 0.11 0.10 0.16 0.46 0.38 0.05 0.03 0.30 0.37 0.00 0.12 0.29 0.07 0.08 6.91 13.78 3.84 4.85 0.33 0.26 0.20 0.25 0.08 0.07 0.00 1.30 1.64 0.13 0.17 0.00 0.20 0.20 0.21 3.09 0.10 0.00 0.21 0.16 15.60 15.88 0.08 0.06 0.34 0.13 0.05 0.07 1.23 1.53 0.12 0.72 0.91 2.41 4.45 0.05 0.06 0.59 0.48 0.05 0.07 0.06 0.00 0.11 0.14 0.16 0.19 0.10 0.13 0.04 0.05 0.12 0.20 0.20 0.16 0.08 0.06 0.17 0.66 0.52 0.12 0.15 0.18 4.27 0.11 0.27 2.15 0.29 0.23 0.06 0.07 0.09 0.03 0.04 0.15 0.00 0.20 2.20 0.19 0.14 0.12 0.32 0.04 0.02 0.06 0.12 0.39 0.48 0.67 0.83 0.05 0.06 1.13 1.42 0.19 0.39 0.50 0.14 0.19 0.13 0.21 0.26 0.06

Full Metal Mnl* Fury Gold Fury Gold* Fuse Cobalt* Fuse Cobalt

Exc Volume

O T X O V

Last

12-month Change

0.10 unch 0.00 0.80 - 0.05 0.63 - 0.05 0.06 + 0.01 0.08 + 0.01

High Low

0.57 1.78 1.47 0.11 0.13

0.02 0.74 0.57 0.04 0.06

G-H 0.55 0.70 0.13 0.00 0.12 0.14 0.45 0.56 0.65 0.52 0.51 0.00 0.13 0.00 0.42 0.52 0.00 0.03 0.31 0.47 0.00 0.26 5.37 4.30 4.21 5.26 0.00 0.91 0.73 0.11 0.24 0.08 0.10 0.36 0.00 0.30 0.21 0.47 0.38 0.00 0.17 0.13 0.00 0.11 0.01 0.10 0.00 0.39 0.29 0.00 0.03 0.00 0.33 0.00 0.00 0.00 0.06 0.07 6.60 13.18 3.27 4.09 0.24 0.19 0.17 0.22 0.07 0.06 0.00 1.18 1.46 0.00 0.00 0.00 0.15 0.18 0.00 2.75 0.00 0.00 0.15 0.12 0.00 14.48 0.06 0.05 0.28 0.10 0.05 0.05 1.10 1.38 0.00 0.69 0.00 2.21 3.93 0.05 0.05 0.56 0.44 0.05 0.06 0.04 0.00 0.10 0.00 0.12 0.18 0.10 0.00 0.03 0.00 0.12 0.00 0.15 0.00 0.06 0.05 0.15 0.55 0.46 0.12 0.00 0.15 4.01 0.00 0.00 0.70 0.24 0.20 0.04 0.00 0.00 0.00 0.03 0.10 0.00 0.20 2.01 0.00 0.13 0.00 0.28 0.00 0.02 0.05 0.11 0.35 0.45 0.00 0.77 0.05 0.00 0.93 1.18 0.14 0.32 0.41 0.14 0.17 0.00 0.18 0.23 0.05

0.58 0.74 0.15 unch 0.19 unch 0.13 + 0.17 + 0.50 + 0.61 0.68 + 0.54 + 0.56 unch 0.03 unch 0.13 unch 0.15 0.45 0.57 0.05 0.04 + 0.44 + 0.56 + 0.35 + 0.28 + 5.94 + 4.72 + 4.52 + 5.66 + 0.27 unch 1.02 + 0.80 + 0.11 unch 0.27 + 0.08 + 0.11 0.36 0.14 unch 0.30 0.24 0.48 0.39 0.05 0.19 unch 0.16 + 0.09 unch 0.13 0.10 0.10 unch 0.16 + 0.40 0.32 0.05 unch 0.03 unch 0.30 + 0.36 + 0.25 unch 0.12 + 0.29 0.06 0.07 6.91 + 13.75 + 3.69 + 4.64 + 0.27 + 0.22 + 0.18 0.22 0.08 + 0.06 + 0.05 unch 1.25 + 1.54 + 0.13 0.16 unch 0.00 unch 0.16 0.20 + 0.21 unch 2.98 + 0.10 + 0.22 unch 0.19 + 0.15 + 15.60 + 15.38 0.08 0.05 0.32 0.12 + 0.05 unch 0.06 unch 1.11 1.40 0.11 + 0.72 0.91 + 2.37 3.99 0.05 + 0.05 0.58 0.46 0.05 0.06 0.04 0.11 unch 0.11 + 0.14 + 0.15 + 0.19 + 0.10 unch 0.13 + 0.04 + 0.04 0.12 unch 0.20 + 0.15 0.13 0.07 0.05 0.16 0.62 0.51 + 0.12 unch 0.14 0.16 + 4.14 0.11 + 0.27 + 2.05 unch 0.27 0.22 + 0.04 0.07 + 0.08 0.03 0.04 + 0.11 0.22 unch 0.20 unch 2.12 0.18 + 0.14 + 0.12 unch 0.29 + 0.04 + 0.02 0.06 + 0.11 + 0.36 0.46 0.63 0.79 0.05 unch 0.06 unch 1.04 1.31 0.16 0.38 + 0.49 + 0.14 unch 0.18 0.13 + 0.21 + 0.26 + 0.05 -

0.01 0.64 0.28 0.02 0.82 0.35 0.00 0.29 0.12 0.00 0.34 0.17 0.02 0.25 0.08 0.03 0.27 0.10 0.00 0.78 0.25 0.01 0.94 0.30 0.03 1.73 0.62 0.01 1.41 0.50 0.00 1.40 0.45 0.00 0.03 0.02 0.00 0.18 0.08 0.02 0.23 0.10 0.03 0.91 0.35 0.03 1.10 0.45 0.02 0.36 0.04 0.01 0.29 0.01 0.09 0.53 0.05 0.11 0.65 0.21 0.01 0.52 0.20 0.00 0.42 0.15 0.41 24.93 3.45 0.28 20.26 2.68 0.14 4.96 3.37 0.19 6.13 4.50 0.00 0.63 0.16 0.03 1.23 0.57 0.01 1.02 0.45 0.00 0.67 0.11 0.03 0.80 0.21 0.00 0.18 0.06 0.02 0.21 0.08 0.02 0.48 0.20 0.00 0.14 0.07 0.03 0.54 0.23 0.02 0.44 0.18 0.01 0.81 0.43 0.01 0.63 0.34 0.01 0.09 0.03 0.00 0.22 0.12 0.01 0.18 0.10 0.00 0.15 0.08 0.01 0.22 0.10 0.01 0.17 0.01 0.00 0.17 0.08 0.02 0.21 0.10 0.01 0.60 0.26 0.01 0.49 0.20 0.00 0.11 0.04 0.00 0.09 0.02 0.06 0.56 0.18 0.04 0.70 0.28 0.00 0.30 0.14 0.01 0.40 0.11 0.01 0.44 0.28 0.01 0.13 0.04 0.01 0.18 0.05 0.24 6.81 3.90 0.39 13.59 7.77 0.35 4.07 1.81 0.45 5.10 2.30 0.04 0.45 0.13 0.04 0.38 0.10 0.01 0.28 0.12 0.03 0.35 0.16 0.01 0.17 0.06 0.00 0.13 0.01 0.00 0.70 0.01 0.10 1.30 0.65 0.11 1.64 0.81 0.01 0.36 0.10 0.00 0.45 0.13 0.00 0.00 0.00 0.04 0.60 0.09 0.01 0.85 0.14 0.00 0.37 0.19 0.04 3.79 2.27 0.02 0.42 0.08 0.00 0.39 0.02 0.05 0.61 0.14 0.03 0.53 0.11 0.70 16.19 7.79 0.74 17.20 7.75 0.01 0.18 0.06 0.01 0.15 0.04 0.03 0.60 0.28 0.01 0.42 0.09 0.00 0.20 0.04 0.00 0.24 0.04 0.04 2.65 0.86 0.03 3.12 1.11 0.01 0.20 0.10 0.01 1.79 0.61 0.01 2.22 0.83 0.01 3.11 1.50 0.23 7.08 3.61 0.00 0.17 0.03 0.01 0.20 0.04 0.01 0.79 0.48 0.02 0.65 0.37 0.01 0.16 0.04 0.01 0.10 0.05 0.01 0.10 0.04 0.00 0.19 0.07 0.00 0.12 0.05 0.01 0.16 0.07 0.01 0.20 0.11 0.01 0.21 0.15 0.00 0.24 0.08 0.02 0.31 0.11 0.00 0.09 0.00 0.01 0.11 0.04 0.00 0.40 0.16 0.05 0.22 0.14 0.05 0.44 0.16 0.03 0.35 0.12 0.01 0.33 0.06 0.01 0.27 0.05 0.01 0.49 0.12 0.02 1.00 0.41 0.01 0.83 0.31 0.00 0.13 0.09 0.01 0.20 0.10 0.01 0.41 0.12 0.05 5.44 2.91 0.01 0.18 0.10 0.02 0.49 0.23 0.00 2.99 0.70 0.01 0.49 0.20 0.01 0.42 0.16 0.01 0.56 0.00 0.01 0.10 0.06 0.01 0.20 0.04 0.00 0.06 0.02 0.01 0.08 0.03 0.04 0.51 0.10 0.00 0.33 0.18 0.00 0.26 0.15 0.06 2.59 1.27 0.01 0.40 0.15 0.02 0.64 0.00 0.00 0.20 0.11 0.01 0.36 0.11 0.01 0.06 0.03 0.00 0.05 0.02 0.00 0.10 0.03 0.01 0.26 0.10 0.02 1.75 0.26 0.03 0.98 0.44 0.02 1.12 0.55 0.01 1.41 0.73 0.00 0.20 0.05 0.00 0.21 0.05 0.05 1.31 0.49 0.06 1.62 0.60 0.03 0.35 0.12 0.05 0.47 0.15 0.06 0.59 0.19 0.00 0.30 0.01 0.01 0.38 0.11 0.01 0.15 0.07 0.01 0.68 0.18 0.01 0.82 0.23 0.00 0.15 0.05

(100s) Stock

Exc Volume

Week High

Low

Granada Gold V 899 Grande Portage* O 461 Grande Portage V 729 Granite Creek V 192 Granite Creek* O 338 Graphano Egy V 124 Graphite One* O 557 Graphite One V 595 Gratomic* O 274 Gratomic V 3307 Graycliff Exp C 68 Great Atlantic V 96 Great Panther T 933 Great Panther* X 19334 Great Quest Fe V 597 Green Battery V 653 Green River* O 13 Green River C 1143 Green Swan Cap V 73 Green Valley M V 7 Greencastle Rs V 60 Greenhawk Res C 18 Greenland M&En*O 314 Greenland Res 384 Greenshield Ex V 0 Grid Metals* O 214 Grid Metals V 2138 Grizzly Discvr* O 1320 Grizzly Discvr V 996 Grosvenor Res V 0 Group Eleven V 205 Group Ten Mtls* O 1475 Group Ten Mtls V 842 GSP Resource V 83 Guanajuato Sil* O 879 Guanajuato Sil V 1120 Guardian Exp V 0 Gungnir Res* O 134 Gungnir Res V 416 Gunpoint Expl* O 1 Gunpoint Expl V 3 Guyana Goldstr V 0 Hanna Capital V 0 Hannan Metals V 436 Hannan Metals* O 328 Hanstone Gold V 2 Happy Ck Mnrls V 773 Harfang Explor V 59 Harmony Gold* N 32936 Harvest Gold V 239 Harvest Gold* O 92 Hawkeye Gld&Di*O 210 Hawkeye Gld&Di V 110 Hawkmoon Res C 239 Headwater Gold C 62 Headwater Gold* O 46 Hecla Mining* N 36701 Heliostar Met* O 246 Heliostar Met V 273 Hemcare Health* O 104 Hemlo Expl* O 24 Hemlo Expl V 366 HFX Holding V 0 Highbank Res V 0 Highbury Proj V 0 HighGold V 634 HighGold* O 97 Highland Copp V 461 Highland Copp* O 218 Highway 50 Gld V 1 Highwood Asset V 0 Hochschild Mg* O 66 Homerun Res V 0 Honey Badger V 129 Honey Badger* O 229 Horizonte Mnls T 5341 Horizonte Mnls* O 187 HudBay Min* N 6023 HudBay Min T 4958 Hudson Res V 190 Hudson Res* O 81 Hunt Mng* O 0 Hunt Mng V 479 Hylands Intl V 0 i-80 Gold T 1509 i-80 Gold* O 311

0.07 0.39 0.47 0.17 0.14 0.53 1.65 2.00 0.71 0.88 0.31 0.22 0.34 0.27 0.08 0.11 0.07 0.09 0.06 0.34 0.14 0.25 0.06 0.94 0.00 0.17 0.22 0.09 0.10 0.00 0.16 0.34 0.43 0.17 0.50 0.63 0.00 0.12 0.15 0.40 0.61 0.00 0.00 0.31 0.24 0.16 0.05 0.23 5.15 0.15 0.15 0.02 0.02 0.06 0.23 0.18 6.96 0.39 0.49 0.82 0.16 0.25 0.00 0.00 0.00 1.05 0.84 0.15 0.12 0.23 11.00 1.82 0.00 0.07 0.06 0.12 0.15 8.23 10.28 0.06 0.05 0.00 0.05 0.00 3.50 2.98

0.06 0.30 0.40 0.16 0.12 0.00 1.47 1.84 0.57 0.70 0.28 0.00 0.29 0.23 0.06 0.09 0.07 0.08 0.00 0.00 0.00 0.00 0.05 0.83 0.00 0.14 0.18 0.07 0.09 0.00 0.00 0.31 0.40 0.00 0.43 0.53 0.00 0.10 0.14 0.00 0.00 0.00 0.00 0.27 0.20 0.00 0.00 0.22 4.62 0.13 0.10 0.02 0.00 0.00 0.19 0.15 6.25 0.33 0.42 0.68 0.14 0.20 0.00 0.00 0.00 0.95 0.76 0.14 0.10 0.00 0.00 1.70 0.00 0.07 0.05 0.00 0.00 7.26 9.10 0.06 0.04 0.00 0.00 0.00 3.15 2.51

I-Minerals* O 65 I-Minerals V 20 IAMGOLD T 3983 IAMGOLD* N 23791 Icon Explor* O 8 Iconic Mnls * O 561 Iconic Mnls V 629 Idaho Champion C 506 Idaho Champion* O 833 IEMR Res V 16 iMetal Res V 319 iMetal Res* O 107 IMPACT Silver V 676 Impala Platnm* O 3 Imperial Metal* O 39 Imperial Metal T 93 Imperial Mg Gr* O 595 Imperial Mg Gr V 1649 Inca One Gold* O 21 Inca One Gold V 46 Inception Mng * O 2818 Independence G V 593 Independence G* O 202 Indigo Expl V 7 Infield Min V 0 Infinite Ore V 1367 Infinite Ore* O 63 Inflection Res C 273 Inomin Mines V 10239 Intact Gold V 0 Integra Res V 341 Integra Res* X 562 Inter-Rock Mnl V 14 Interconnect V 0 Intercontinent* O 1 Intercontinent V 0 Interra Copper C 1448 Interra Copper* O 192 Intl Battery C 469 Intl Bethl Mng V 1 Intl Iconic* O 232 Intl Iconic V 47 Intl Lithium V 4589 Intl Lithium* O 2050 Intl Prospect V 126 Intl Prospect * O 82 Intl Star* O 104447 Intl Tower Hil* X 711 Intl Tower Hil T 7 Intl Zeolite* O 62 Intl Zeolite V 408 Intrepid Pots* N 4013 Inventus Mg * O 31 Inventus Mg V 394 InZinc Mining V 77 InZinc Mining* O 34 Ion Energy* O 47 Ion Energy V 317 Irving Res C 216 Irving Res* O 229 IsoEnergy Ltd V 910 Itafos* O 266 Itafos V 1570 Itoco Inc* O 13 Ivanhoe Mines* O 477 Ivanhoe Mines T 4954 Ivor Explor C 500 Jade Leader* O 0 Jade Leader V 170 Jaeger Res V 0 Jaguar Mng T 427 Jaguar Mng* O 254 Japan Gold V 130 Japan Gold* O 107 Jasper Mining V 24 Jaxon Mining* O 55 Jaxon Mining V 248 Jayden Res V 25 Jazz Res V 183 Jervois Mining V 677 Jervois Mining* O 1062 Josemaria Res T 1886 Joshua Gold* O 297 Jourdan Res V 1798

0.02 0.03 4.57 3.68 0.07 0.15 0.16 0.07 0.06 0.03 0.37 0.30 0.57 15.50 3.14 3.94 0.13 0.16 0.30 0.37 0.01 0.12 0.09 0.06 0.00 0.13 0.09 0.12 0.46 0.00 1.86 1.49 0.50 0.00 0.07 0.00 0.09 0.07 7.50 0.04 0.04 0.05 0.15 0.12 0.14 0.11 0.01 1.05 1.26 0.14 0.19 109.84 0.14 0.15 0.07 0.05 0.32 0.39 1.39 1.11 5.80 3.05 3.84 0.15 9.80 12.24 1.90 0.00 0.06 0.00 4.35 3.49 0.30 0.24 0.11 0.04 0.04 0.40 0.80 0.84 0.70 1.87 0.02 0.06

Last

12-month Change

0.07 unch 0.32 0.40 0.16 0.13 0.44 1.52 + 1.89 + 0.58 0.73 0.30 + 0.22 unch 0.30 0.23 0.07 0.10 unch 0.07 0.08 0.06 + 0.28 + 0.12 unch 0.24 0.05 + 0.92 + 1.95 unch 0.16 + 0.22 + 0.08 0.10 unch 0.15 unch 0.15 0.32 0.41 0.16 0.46 0.57 0.07 unch 0.11 0.14 0.40 0.61 0.13 unch 0.03 unch 0.31 + 0.23 + 0.16 unch 0.04 0.22 + 4.86 0.14 unch 0.11 0.02 unch 0.02 unch 0.06 0.21 unch 0.16 6.75 + 0.35 0.44 0.77 + 0.16 + 0.20 + 0.05 unch 0.02 unch 0.35 unch 0.96 0.77 0.14 0.12 0.23 + 10.50 1.72 + 0.20 unch 0.07 unch 0.05 0.12 unch 0.08 7.58 9.51 0.06 0.05 + 0.04 unch 0.04 unch 0.03 unch 3.41 2.71 -

0.00 0.06 0.07 0.01 0.01 0.03 0.04 0.04 0.02 0.01 0.02 0.00 0.03 0.03 0.02 0.00 0.00 0.01 0.01 0.01 0.00 0.02 0.00 0.09 0.00 0.02 0.04 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01 0.02 0.00 0.00 0.01 0.14 0.04 0.00 0.00 0.04 0.01 0.00 0.01 0.01 0.38 0.00 0.01 0.00 0.00 0.01 0.00 0.03 0.02 0.03 0.06 0.02 0.02 0.04 0.00 0.00 0.00 0.07 0.05 0.01 0.00 0.03 0.50 0.01 0.00 0.00 0.00 0.00 0.02 0.38 0.48 0.01 0.00 0.00 0.00 0.00 0.16 0.12

Stock

0.18 0.65 0.78 0.29 0.24 1.20 2.00 2.54 1.50 1.74 2.86 0.84 1.07 0.90 0.17 0.30 0.07 0.09 0.08 1.10 0.20 0.35 0.13 1.00 1.98 0.23 0.27 0.09 0.10 0.17 0.18 0.42 0.51 0.50 0.70 0.74 0.15 0.25 0.32 0.59 0.75 0.20 0.13 0.49 0.39 0.48 0.09 0.48 5.76 0.24 0.19 0.04 0.05 0.20 0.65 0.27 9.44 1.47 1.81 2.32 0.38 0.52 0.11 0.02 0.35 2.08 1.65 0.17 0.13 0.47 19.00 2.95 0.21 0.15 0.16 0.18 0.15 9.60 11.62 0.23 0.19 0.23 0.13 0.04 4.03 3.28

Jubilee Gold Jubilee Metals* Juggernaut Exp* Juggernaut Exp Jupiter Gold* K2 Gold K9 Gold* K92 Mining K92 Mining* Kainantu Res Kaizen Discov Kalo Gold Kanadario Gold Karam Min Karnalyte Res Karoo Expl Karora Res* KAT Expl* Kenadyr Metals* Kenadyr Metals Kenorland Min Kermode Res Kesselrun Res Kesselrun Res* Kestrel Gold KGL Resources Kincora Copper* Kincora Copper King Global* King Global Kingfisher Met* Kingfisher Met Kingman Min Kings Bay Res Kingsmen Res Kinross Gold Kinross Gold* Kintavar Exp Kiplin Metals Kiplin Metals* Klondike Gold* Klondike Gold Klondike Silv* Klondike Silv Kodiak Copper* Kombat Copper* Kombat Copper Kootenay Silvr* Kootenay Silvr Kootenay Zinc Kore Mining Kore Mining * Kutcho Copper * Kuya Silver Kuya Silver* KWG Res KWG Res*

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

Labrador Gold* Labrador Gold Labrador IMH* Labrador IOR* Labrador IOR Lake Resources* Lara Expl Laramide Res Laredo Res* Largo Res* Largo Res Lasalle Explor* Lasalle Explor Latin Metals* Latin Metals Laurion Mnl Ex Laurion Mnl Ex* Leading Edge Leading Edge* Leeta Gold Legion Metals Leocor Gold Leocor Gold* Leopard Lake Leviathan Gold Leviathan Gold* Li-Metal Libero Copper* Libero Copper Liberty Gold* Liberty One Li Lido Minerals Lightspeed Dis Lincoln Mng Lion One Mtls Lion One Mtls* Lithium Amer Lithium Amer* Lithium Chile Lithium Chile* Lithium Corp* Lithium Energi* Lithium Energi Lithium South* Lithoquest Res* Lithoquest Res 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 Lynas Corp* Lynas Corp*

O 409 V 785 O 151 O 58 T 1025 O 10313 V 49 T 2434 O 993 D 665 T 487 O 5 V 70 O 2 V 60 V 192 O 13 V 410 O 259 V 5619 C 978 C 168 O 117 C 31 V 500 O 0 C 54 O 326 V 1129 O 1719 V 0 C 506 V 7 V 132 V 343 O 387 T 6641 N 35899 V 3146 O 1134 O 2543 O 641 V 973 O 725 O 438 V 619 O 6 V 0 V 1219 O 193 O 12 T 170 O 701 V 101 O 7 V 37 O 63 T 1028 O 17 V 719 O 96 V 54 O 186 V 409 V 414 T 858 O 280 T 10652 O 150 V 526 O 892 O 863

0.06 0.22 0.27 0.14 0.10 0.27 0.70 0.89 0.53 0.66 0.20 0.19 0.24 0.16 0.03 0.09 0.02 0.03 0.05 0.19 0.10 0.06 0.04 0.30 0.17 0.07 0.09 0.02 0.03 0.14 0.09 0.22 0.27 0.14 0.29 0.36 0.05 0.03 0.04 0.40 0.55 0.10 0.03 0.22 0.16 0.14 0.03 0.20 3.00 0.10 0.00 0.01 0.01 0.05 0.14 0.11 4.50 0.33 0.42 0.50 0.13 0.16 0.03 0.01 0.20 0.95 0.76 0.08 0.06 0.18 8.55 1.30 0.04 0.06 0.04 0.10 0.05 5.22 6.70 0.06 0.04 0.02 0.03 0.03 2.26 1.88

I-J-K 0.02 0.00 4.27 3.39 0.07 0.11 0.14 0.06 0.05 0.00 0.00 0.20 0.49 14.45 2.85 3.61 0.09 0.12 0.24 0.32 0.00 0.10 0.08 0.00 0.00 0.10 0.08 0.09 0.26 0.00 1.73 1.38 0.00 0.00 0.07 0.00 0.06 0.04 4.79 0.00 0.03 0.00 0.12 0.09 0.00 0.04 0.01 0.91 1.17 0.12 0.14 80.73 0.10 0.13 0.00 0.04 0.29 0.35 1.10 0.88 4.47 2.43 3.04 0.13 8.86 11.10 1.37 0.00 0.00 0.00 4.00 3.12 0.28 0.22 0.00 0.04 0.00 0.00 0.75 0.80 0.56 1.74 0.01 0.05

0.02 unch 0.03 unch 4.44 3.52 0.07 unch 0.12 + 0.15 unch 0.06 unch 0.05 + 0.03 unch 0.35 + 0.29 + 0.50 15.25 3.00 3.82 0.10 0.13 0.30 + 0.34 + 0.01 + 0.10 0.08 0.05 0.05 unch 0.10 0.08 0.12 + 0.27 0.05 unch 1.73 1.38 0.48 0.08 unch 0.07 unch 0.09 unch 0.08 + 0.06 + 6.40 0.04 + 0.03 0.04 0.13 + 0.10 + 0.14 + 0.11 + 0.01 1.00 1.25 0.14 + 0.19 + 106.91 + 0.10 0.15 0.06 0.04 0.30 + 0.35 1.28 + 1.01 + 5.46 + 2.98 + 3.75 + 0.15 9.17 11.55 1.67 + 0.03 unch 0.06 unch 0.03 unch 4.27 + 3.39 0.29 + 0.23 + 0.07 0.04 unch 0.04 unch 0.28 0.80 + 0.83 + 0.66 + 1.77 0.01 0.05 unch

(100s)

High Low

0.00 0.04 0.01 0.00 0.06 0.02 0.10 4.62 2.75 0.12 3.85 2.16 0.00 0.10 0.00 0.00 0.24 0.10 0.00 0.30 0.13 0.00 0.21 0.04 0.00 0.20 0.04 0.00 0.04 0.02 0.08 0.68 0.14 0.08 0.57 0.10 0.06 0.87 0.42 0.19 21.00 10.38 0.15 4.92 2.27 0.13 5.95 2.95 0.01 0.19 0.09 0.01 0.23 0.11 0.03 0.42 0.16 0.01 0.45 0.29 0.00 0.03 0.00 0.02 0.19 0.05 0.02 0.15 0.04 0.01 0.11 0.05 0.00 0.42 0.04 0.02 0.28 0.06 0.00 0.21 0.04 0.03 0.43 0.08 0.13 0.72 0.08 0.00 0.09 0.03 0.09 4.19 1.74 0.07 3.48 1.36 0.02 0.65 0.40 0.00 0.10 0.08 0.00 0.20 0.06 0.00 0.24 0.09 0.03 0.30 0.04 0.02 0.23 0.03 1.00 7.52 0.38 0.01 0.12 0.03 0.00 0.13 0.03 0.01 0.16 0.04 0.01 0.15 0.05 0.01 0.12 0.03 0.03 0.25 0.11 0.01 0.40 0.04 0.00 0.02 0.00 0.02 1.25 0.62 0.01 1.63 0.79 0.02 0.24 0.08 0.04 0.33 0.11 24.40 102.05 22.82 0.02 0.16 0.10 0.01 0.22 0.12 0.01 0.09 0.03 0.00 0.05 0.01 0.00 0.79 0.26 0.01 0.59 0.32 0.08 2.35 0.92 0.04 1.93 0.72 0.80 6.61 1.95 0.56 2.68 0.88 0.72 3.42 0.61 0.00 0.35 0.02 0.55 10.32 5.64 0.61 13.15 7.11 0.29 1.90 0.30 0.00 0.07 0.03 0.00 0.11 0.05 0.00 0.06 0.02 0.02 7.33 3.70 0.01 6.00 2.79 0.01 0.41 0.25 0.01 0.32 0.19 0.03 0.21 0.04 0.00 1.00 0.02 0.00 0.09 0.04 0.07 1.05 0.22 0.03 0.99 0.27 0.05 0.85 0.40 0.03 0.70 0.25 0.01 1.87 0.67 0.00 0.10 0.01 0.00 0.10 0.03

Exc Volume

2 18 3 497 2 474 211 2171 418 394 0 7 353 697 361 24 754 108436 1 4 144 2445 431 0 487 34 68 149 187 526 143 277 86 6 58 19558 107459 84 201 2 144 581 632 1487 141 56 673 864 1423 212 273 263 197 315 242 10064 1458

Week

21

12-month

High

Low

Last

Change

0.64 0.25 0.15 0.21 1.05 0.23 0.15 9.25 7.45 0.30 0.00 0.18 0.86 0.52 0.95 0.38 5.53 0.01 0.07 0.11 0.80 0.03 0.14 0.00 0.08 0.16 0.09 0.12 0.05 0.05 0.20 0.23 0.04 0.06 0.11 7.84 6.23 0.13 0.85 0.65 0.14 0.17 0.07 0.08 1.41 0.43 0.43 0.15 0.18 0.05 0.35 0.28 0.48 1.15 0.97 0.05 0.04

0.00 0.22 0.14 0.15 0.00 0.18 0.13 8.47 6.46 0.00 0.00 0.16 0.83 0.42 0.78 0.00 5.08 0.00 0.07 0.00 0.72 0.00 0.00 0.00 0.07 0.00 0.00 0.11 0.03 0.04 0.15 0.19 0.00 0.00 0.00 7.13 5.70 0.00 0.81 0.00 0.13 0.15 0.06 0.07 1.32 0.31 0.40 0.13 0.17 0.04 0.32 0.25 0.42 0.95 0.75 0.04 0.03

0.64 0.25 + 0.15 + 0.19 + 0.93 0.20 + 0.14 8.96 7.11 0.25 + 0.40 unch 0.18 + 0.85 unch 0.44 0.84 0.35 5.49 + 0.00 0.07 unch 0.11 unch 0.76 0.02 0.08 0.07 unch 0.08 + 0.14 0.09 + 0.12 unch 0.03 0.04 unch 0.16 0.21 + 0.04 0.06 0.11 + 7.81 + 6.21 + 0.12 unch 0.85 + 0.65 0.13 0.17 0.06 0.08 unch 1.38 0.33 + 0.41 + 0.14 0.18 unch 0.04 0.33 0.26 0.46 0.98 0.78 0.05 + 0.04 unch

0.19 0.02 0.03 0.05 0.13 0.02 0.00 0.32 0.30 0.02 0.00 0.02 0.00 0.03 0.10 0.02 0.15 0.00 0.00 0.00 0.02 0.01 0.02 0.00 0.01 0.04 0.00 0.00 0.01 0.00 0.04 0.01 0.01 0.01 0.01 0.25 0.19 0.00 0.04 0.02 0.01 0.01 0.00 0.00 0.02 0.01 0.01 0.00 0.00 0.01 0.03 0.02 0.02 0.16 0.12 0.02 0.00

High Low

0.87 0.32 0.32 0.40 1.80 0.40 0.66 9.44 7.60 0.40 0.85 0.59 1.25 0.75 1.35 0.94 5.47 0.02 0.32 0.40 1.50 0.06 0.26 0.21 0.24 0.30 0.56 0.35 0.09 0.12 2.38 0.65 0.24 0.17 0.19 10.06 8.34 0.24 1.10 2.40 0.22 0.27 0.12 0.11 1.94 0.48 0.61 0.30 0.36 0.26 1.22 0.99 0.93 2.79 2.27 0.05 0.04

0.59 0.18 0.09 0.12 0.31 0.16 0.10 5.75 4.42 0.15 0.25 0.15 0.70 0.10 0.12 0.26 2.35 0.00 0.06 0.11 0.65 0.02 0.08 0.06 0.06 0.10 0.08 0.11 0.03 0.04 0.15 0.18 0.03 0.06 0.08 6.32 4.90 0.09 0.10 0.09 0.11 0.14 0.00 0.05 0.80 0.10 0.24 0.10 0.16 0.04 0.32 0.25 0.36 0.76 0.60 0.02 0.00

L 0.63 0.54 0.59 + 0.03 1.50 0.39 0.79 0.69 0.75 + 0.04 1.85 0.49 0.13 0.08 0.12 + 0.00 0.33 0.02 33.17 30.69 32.05 - 0.76 42.40 26.61 41.45 39.15 40.37 - 0.93 51.00 33.33 1.97 1.37 1.38 - 0.43 1.97 0.16 0.62 0.60 0.62 unch 0.00 0.85 0.48 0.88 0.73 0.82 + 0.08 1.12 0.37 0.01 0.00 0.01 - 0.00 0.02 0.00 13.17 11.06 11.77 - 0.90 18.71 7.39 16.40 13.92 14.78 - 1.00 22.96 9.39 0.07 0.07 0.07 unch 0.00 0.16 0.06 0.09 0.00 0.09 unch 0.00 0.20 0.08 0.11 0.11 0.11 unch 0.00 0.16 0.09 0.14 0.00 0.14 + 0.01 0.19 0.10 1.03 0.96 1.03 + 0.05 1.14 0.20 0.82 0.75 0.82 + 0.04 0.92 0.16 0.56 0.48 0.52 - 0.03 0.72 0.19 0.45 0.37 0.41 - 0.02 0.57 0.15 2.70 2.30 2.34 - 0.30 6.57 1.91 0.18 0.15 0.15 unch 0.00 0.34 0.12 0.36 0.00 0.36 + 0.03 1.00 0.31 0.30 0.26 0.28 + 0.02 1.47 0.22 0.15 0.00 0.15 unch 0.00 0.16 0.10 0.13 0.10 0.11 unch 0.00 0.50 0.09 0.09 0.00 0.09 - 0.00 0.65 0.07 1.40 1.00 1.10 - 0.22 3.75 0.76 0.50 0.43 0.45 - 0.06 0.73 0.27 0.62 0.54 0.56 - 0.08 0.89 0.34 0.78 0.66 0.69 - 0.08 1.50 0.66 0.00 0.00 0.40 unch 0.00 0.64 0.33 0.22 0.15 0.16 - 0.06 0.41 0.18 0.07 0.00 0.05 - 0.03 0.12 0.05 0.09 0.00 0.08 - 0.01 0.25 0.08 1.22 1.12 1.15 - 0.02 1.42 0.97 0.98 0.89 0.92 + 0.01 1.17 0.77 50.42 37.73 39.06 - 9.72 53.09 14.46 40.39 30.00 31.08 - 7.86 41.56 11.84 1.12 0.96 0.99 - 0.04 1.21 0.26 0.90 0.76 0.79 - 0.03 0.95 0.21 0.33 0.24 0.31 + 0.02 0.52 0.18 0.30 0.22 0.28 + 0.06 0.41 0.01 0.38 0.27 0.33 + 0.05 0.36 0.08 0.73 0.57 0.61 - 0.05 0.88 0.29 0.12 0.10 0.12 + 0.00 0.14 0.06 0.15 0.11 0.14 - 0.01 0.18 0.06 0.04 0.04 0.04 unch 0.00 0.14 0.03 0.00 0.00 0.30 unch 0.00 0.37 0.21 0.09 0.08 0.08 unch 0.00 0.20 0.06 0.07 0.06 0.07 + 0.00 0.16 0.04 0.46 0.00 0.46 - 0.02 0.97 0.39 0.60 0.52 0.59 + 0.01 1.16 0.49 0.04 0.02 0.03 - 0.01 4.20 0.02 15.88 15.06 15.20 - 0.20 17.73 6.63 12.50 0.00 12.17 - 0.21 14.00 5.55 0.09 0.00 0.09 - 0.01 0.33 0.09 0.00 0.00 0.09 unch 0.00 0.27 0.08 0.67 0.65 0.67 + 0.01 0.87 0.50 0.05 0.00 0.05 - 0.00 0.54 0.04 0.06 0.00 0.06 unch 0.00 0.15 0.05 0.22 0.19 0.21 - 0.02 0.80 0.18 0.28 0.00 0.25 - 0.04 0.80 0.23 0.50 0.46 0.49 + 0.01 0.71 0.39 0.63 0.60 0.62 + 0.02 0.90 0.50 0.44 0.39 0.39 - 0.04 0.94 0.35 10.70 10.07 10.46 - 0.24 12.93 8.82 10.70 9.68 10.13 - 0.01 13.11 6.66 13.35 12.19 12.74 + 0.03 16.07 8.56 0.03 0.00 0.03 + 0.00 0.07 0.00 0.05 0.00 0.04 unch 0.00 0.08 0.03 8.63 7.39 7.48 - 0.83 8.63 3.92 8.73 7.39 7.45 - 0.88 8.73 4.00

M Macarthur Min* O Macarthur Min V MacDonald Mns* O MacDonald Mns V Madeira Mrnls V Madoro Metals V MAG Silver T Magellan Gold* O Magna Gold V Magna Gold* O Magna Mining V Magna Terra* O Magna Terra V Magnum Goldco V Majestic Gold V Majestic Gold* O Major Precious* O Makara Mining* O Makara Mining C Makena Res* O Mako Mining* O Mako Mining V Mammoth Res * O Mammoth Res V Mandalay Res T Mandalay Res* O Manganese X* O Manganese X V Mangazeya Mng V Manitou Gold V Manitou Gold * O Manning Vent* O Manning Vent C Mansa Explor C Mantaro Prec V Mantaro Prec* O Maple Gold* O Maple Gold V

494 444 217 976 0 0 867 13 415 130 357 2 247 158 548 50 8 264 1160 22 473 428 8 209 342 38 1582 3108 12 4772 217 5 2139 191 577 244 990 775

0.39 0.49 0.03 0.04 0.00 0.00 21.73 0.29 0.76 0.61 0.55 0.09 0.12 0.05 0.07 0.05 0.15 0.05 0.06 0.31 0.32 0.40 0.09 0.08 3.86 3.03 0.47 0.58 0.04 0.07 0.06 0.07 0.09 0.20 0.19 0.15 0.28 0.34

0.33 0.00 0.02 0.03 0.00 0.00 19.91 0.00 0.70 0.48 0.47 0.09 0.00 0.00 0.00 0.05 0.10 0.03 0.05 0.26 0.31 0.38 0.09 0.00 3.13 2.47 0.36 0.45 0.00 0.06 0.04 0.07 0.07 0.17 0.17 0.12 0.24 0.30

0.35 0.46 unch 0.03 + 0.04 + 0.03 unch 0.07 unch 21.37 + 0.26 0.71 0.58 0.50 + 0.09 unch 0.10 0.05 unch 0.06 0.05 unch 0.10 0.04 + 0.06 + 0.27 0.31 + 0.40 + 0.09 unch 0.07 3.71 + 3.00 + 0.39 + 0.49 + 0.04 0.06 unch 0.05 + 0.07 unch 0.09 + 0.19 unch 0.19 + 0.15 + 0.25 0.31 -

0.02 0.50 0.22 0.00 0.60 0.28 0.00 0.06 0.02 0.01 0.07 0.03 0.00 0.03 0.03 0.00 0.15 0.05 0.38 29.28 16.74 0.03 1.40 0.23 0.02 1.13 0.69 0.01 1.12 0.45 0.03 0.65 0.30 0.00 0.16 0.09 0.02 0.20 0.09 0.00 0.18 0.04 0.01 0.08 0.05 0.00 0.07 0.03 0.02 2.00 0.01 0.00 0.40 0.03 0.01 0.50 0.05 0.02 1.31 0.25 0.00 0.39 0.22 0.01 0.44 0.29 0.00 0.39 0.01 0.02 0.21 0.07 0.45 3.68 1.82 0.39 3.00 1.43 0.03 0.47 0.18 0.04 0.58 0.22 0.01 0.10 0.04 0.00 0.13 0.05 0.00 0.10 0.04 0.00 0.11 0.07 0.01 0.34 0.07 0.00 0.28 0.13 0.01 0.57 0.13 0.01 0.50 0.09 0.03 0.42 0.19 0.03 0.49 0.24

22

WWW.NORTHERNMINER.COM

APRIL 18—MAY 1, 2022 / THE NORTHERN MINER

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

Exc Volume

Marathon Gold* O 380 Marathon Gold T 1907 Margaret Lake* O 2 Margaret Lake V 2 Marimaca Cop* O 27 Marimaca Cop T 37 Maritime Res V 545 Martina Mnls V 0 MartinMarietta* N 1811 Marvel Discov* O 1487 Marvel Discov V 1938 Mas Gold V 288 Mascota Res* O 1 Masivo Silver V 230 Masivo Silver* O 50 Mason Graphite V 550 Mason Graphite* O 126 Matachewan Con V 0 Matica Ent C 30 Maverix Metals T 306 Maverix Metals* X 855 Mawson Res* O 249 Mawson Res T 550 MAX Res V 4179 MaxTech Vent* O 90 MaxTech Vent C 367 Maxwell Res* O 0 Mayfair Gold* O 100 Mayfair Gold V 520 Mazarin V 3 McChip Res V 0 McEwen Mng T 700 McEwen Mng* N 5982 McLaren Res C 225 MDN Inc* O 6 Medallion Res V 111 Medallion Res* O 67 Medaro Mining C 724 Medaro Mining* O 629 Medgold Res* O 5 Medgold Res V 109 Medinah Mnrls* O 8521 Mega Copper V 0 Mega Uranium T 4271 Mega Uranium* O 936 MegaWatt Lith C 583 MegaWatt Lith* O 200 MegumaGold* O 478 MegumaGold C 1538 Melkior Res* O 299 Melkior Res V 94 Meridian Mg T 987 Meridian Mg * O 136 Metal Energy V 185 MetalCorp* O 21 MetalCorp V 158 Metalex Vent V 68 Metalex Vent * O 27 Metallic Mnrls V 494 Metallic Mnrls* O 630 Metallica Met* O 159 Metallica Met C 339 Metallica Min* O 78 Metallis Res V 1159 Metallum Res V 305 Metalo Manuf C 52 Metalore Res V 0 Metalore Res* O 0 Metals Creek* O 393 Metals Creek V 421 Metals X* O 840 Metron Capital V 100 Mexican Gold* O 190 Midasco Cap V 0 Midland Expl V 82 Midnight Star C 201 Midnight Sun* O 26 Midnight Sun V 34 Millbank Mg V 10 MillenMin Vent V 0 Millennial Pr V 2012 Millennial Pr* O 324 Millennium Sil V 675 Millrock Res* O 245 Millrock Res V 437 Milner Con Slv V 0 Minaurum Gold V 369 Minaurum Gold* O 857 Minco Silver* O 8 Minco Silver T 70 Minera Alamos * O 3072 Minera Alamos V 3233 Minera IRL* O 200 Minera IRL C 313 Mineral Hill V 0 Mineral Mtn V 677 Mineral Mtn* O 208 Mineral Res* O 2 Mineworx Tech* O 739 Mineworx Tech V 1189 Minfocus Expl V 460 Minnova Corp V 235 Minsud Res V 0 Mirasol Res V 818 Mistango River C 639 Mkango Res V 84 ML Gold* O 3 ML Gold Corp V 35 Monarca Mnrls* O 94 Monarca Mnrls V 202 Monarch Min* O 109 Monarch Mining T 860 Moneta Porcpn T 123 Moneta Porcpn* O 42 Mongoose Mg C 54 Monitor Vent V 0 Montage Gold V 487 Montage Gold* O 121 Monterey Min C 71 Montero Mg&Ex V 242 Montero Mg&Ex * O 219 Monument Mng V 534 Monument Mng* O 500 Monumental Min V 480 Morien Res* O 532 Morien Res V 631 Mosaic* N 46820 Mosaic Min C 439 Mount Gibson * O 5 Mountain Boy* O 13 Mountain Boy V 166 Mountain Prov T 1300 Mountain Prov* O 923 MPV Explor C 776 Mundoro Cap V 77 Mundoro Cap* O 511 Murchison Min* O 80 Murchison Min V 821 Musgrave Min* O 46 Musk Metals C 311 Musk Metals* O 269 Muzhu Mining C 64

Week High

Low

Last

12-month Change

High Low

2.24 2.04 2.24 + 0.05 3.00 1.88 2.83 2.55 2.81 + 0.09 3.73 2.36 0.24 0.24 0.24 unch 0.00 0.24 0.24 0.29 0.00 0.24 - 0.07 1.30 0.18 3.36 3.30 3.36 + 0.08 4.55 2.70 4.20 3.90 4.06 - 0.14 5.85 3.24 0.12 0.12 0.12 unch 0.00 0.24 0.12 0.00 0.00 0.07 unch 0.00 0.07 0.07 387.50 365.00 371.97 - 13.09 446.46 329.69 0.13 0.11 0.11 - 0.00 0.20 0.05 0.15 0.14 0.15 unch 0.00 0.22 0.07 0.10 0.10 0.10 unch 0.00 0.18 0.09 2.50 2.10 2.10 - 0.30 3.45 1.10 0.08 0.00 0.08 + 0.02 0.15 0.06 0.05 0.05 0.05 + 0.00 0.12 0.04 0.63 0.56 0.58 + 0.04 0.78 0.40 0.50 0.43 0.46 + 0.05 0.65 0.32 0.00 0.00 0.23 unch 0.00 0.27 0.17 0.47 0.00 0.36 + 0.05 1.65 0.26 6.27 5.89 6.27 + 0.01 7.70 5.04 5.03 4.72 4.97 - 0.04 6.40 3.91 0.12 0.11 0.11 + 0.00 0.26 0.09 0.15 0.14 0.14 unch 0.00 0.33 0.12 0.74 0.57 0.72 + 0.15 0.71 0.14 0.05 0.04 0.05 + 0.01 0.30 0.04 0.06 0.00 0.06 - 0.01 0.40 0.06 0.00 0.00 0.07 unch 0.00 1.26 0.01 1.17 1.17 1.17 - 0.01 2.06 0.40 1.55 1.45 1.53 + 0.10 2.11 0.49 0.18 0.00 0.18 unch 0.00 0.20 0.08 0.00 0.00 0.73 unch 0.00 1.45 0.62 1.07 0.98 1.03 - 0.04 2.07 0.94 0.86 0.78 0.82 - 0.02 1.71 0.73 0.06 0.00 0.06 - 0.01 0.10 0.04 0.17 0.00 0.17 + 0.03 0.85 0.13 0.12 0.00 0.12 + 0.01 0.42 0.08 0.10 0.00 0.10 + 0.01 0.35 0.06 0.74 0.68 0.70 - 0.03 1.43 0.45 0.62 0.54 0.55 - 0.03 1.81 0.32 0.01 0.01 0.01 - 0.00 0.05 0.01 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.00 0.00 0.00 + 0.00 0.01 0.00 0.00 0.00 0.16 unch 0.00 0.16 0.14 0.39 0.32 0.38 + 0.05 0.42 0.18 0.31 0.26 0.30 + 0.03 0.34 0.14 0.13 0.11 0.13 unch 0.00 0.44 0.08 0.12 0.09 0.10 - 0.01 0.36 0.07 0.04 0.03 0.04 + 0.00 0.08 0.02 0.05 0.04 0.05 + 0.02 0.11 0.03 0.20 0.20 0.20 unch 0.00 0.50 0.18 0.28 0.23 0.28 + 0.02 0.65 0.24 1.10 0.95 1.01 - 0.02 1.34 0.39 0.89 0.74 0.82 - 0.01 1.08 0.30 0.16 0.14 0.14 - 0.01 0.25 0.10 0.04 0.04 0.04 unch 0.00 0.05 0.01 0.06 0.00 0.05 unch 0.00 0.07 0.03 0.06 0.00 0.05 - 0.01 0.10 0.02 0.05 0.04 0.04 + 0.01 0.07 0.02 0.44 0.39 0.42 - 0.03 0.68 0.32 0.35 0.30 0.33 - 0.03 0.56 0.25 0.06 0.00 0.05 - 0.00 0.27 0.05 0.08 0.00 0.07 - 0.01 0.34 0.06 0.03 0.03 0.03 + 0.00 0.03 0.02 0.30 0.23 0.28 + 0.06 0.57 0.19 0.08 0.07 0.08 + 0.01 0.20 0.07 0.20 0.00 0.20 + 0.09 0.69 0.11 0.00 0.00 2.40 unch 0.00 3.33 2.15 0.00 0.00 1.98 unch 0.00 2.62 1.73 0.12 0.09 0.10 - 0.01 0.20 0.09 0.15 0.12 0.12 - 0.02 0.23 0.11 0.55 0.51 0.52 + 0.02 0.55 0.15 0.27 0.25 0.26 unch 0.00 0.39 0.19 0.03 0.02 0.03 + 0.00 0.13 0.02 0.00 0.00 0.10 unch 0.00 0.12 0.10 0.54 0.49 0.51 - 0.02 0.90 0.46 0.36 0.33 0.35 unch 0.00 0.54 0.25 0.22 0.20 0.20 - 0.00 0.40 0.00 0.29 0.24 0.24 - 0.01 0.42 0.20 0.55 0.00 0.55 + 0.10 0.60 0.40 0.00 0.00 0.05 unch 0.00 0.05 0.05 0.54 0.49 0.50 - 0.01 0.74 0.30 0.44 0.39 0.43 + 0.03 0.94 0.27 0.01 0.00 0.01 unch 0.00 0.03 0.01 0.05 0.04 0.04 - 0.01 0.09 0.04 0.06 0.00 0.06 - 0.01 0.11 0.05 0.00 0.00 0.11 unch 0.00 0.11 0.07 0.38 0.36 0.37 unch 0.00 0.50 0.23 0.31 0.28 0.29 + 0.00 0.46 0.17 0.23 0.00 0.23 - 0.01 0.52 0.23 0.29 0.28 0.28 - 0.01 0.58 0.29 0.56 0.45 0.55 + 0.05 0.63 0.37 0.70 0.57 0.69 + 0.08 0.73 0.49 0.06 0.06 0.06 unch 0.00 0.12 0.01 0.08 0.08 0.08 - 0.01 0.15 0.07 0.00 0.00 0.26 unch 0.00 0.30 0.13 0.10 0.09 0.10 - 0.01 0.24 0.09 0.09 0.07 0.08 - 0.01 0.20 0.07 46.43 0.00 44.35 + 5.71 48.27 27.13 0.07 0.00 0.07 + 0.01 0.08 0.04 0.10 0.07 0.09 + 0.02 0.11 0.06 0.12 0.11 0.12 - 0.01 0.43 0.11 0.13 0.00 0.12 + 0.01 0.36 0.11 0.00 0.00 0.30 unch 0.00 0.37 0.04 0.86 0.70 0.82 + 0.08 0.86 0.31 0.08 0.07 0.08 + 0.01 0.23 0.06 0.44 0.00 0.40 - 0.01 0.70 0.33 0.06 0.06 0.06 unch 0.00 0.12 0.06 0.10 0.00 0.10 + 0.01 0.15 0.08 0.03 0.02 0.03 - 0.00 0.13 0.02 0.04 0.00 0.04 unch 0.00 0.16 0.03 0.53 0.47 0.51 - 0.02 0.88 0.47 0.65 0.60 0.65 + 0.01 1.02 0.60 2.40 2.25 2.40 + 0.10 2.61 1.55 1.94 1.79 1.89 + 0.04 1.94 1.25 0.20 0.00 0.20 unch 0.00 0.50 0.18 0.00 0.00 0.14 unch 0.00 0.36 0.10 0.94 0.83 0.92 + 0.02 1.02 0.58 0.75 0.65 0.74 + 0.01 0.85 0.45 0.90 0.77 0.83 + 0.08 1.60 0.21 0.11 0.00 0.09 - 0.02 0.45 0.06 0.09 0.02 0.06 - 0.03 0.86 0.01 0.11 0.09 0.11 + 0.02 0.21 0.09 0.09 0.08 0.08 + 0.01 0.16 0.01 0.70 0.56 0.58 - 0.06 0.79 0.27 0.30 0.22 0.29 + 0.06 0.51 0.11 0.39 0.27 0.39 + 0.10 0.64 0.16 74.75 65.05 73.86 + 7.98 72.23 28.26 0.11 0.09 0.11 + 0.02 0.19 0.06 0.52 0.52 0.52 unch 0.00 0.65 0.32 0.13 0.12 0.13 - 0.01 0.19 0.11 0.17 0.15 0.16 - 0.01 0.24 0.15 0.89 0.80 0.84 - 0.02 0.99 0.40 0.71 0.63 0.68 - 0.01 0.79 0.32 0.13 0.10 0.10 - 0.03 0.71 0.10 0.20 0.17 0.19 unch 0.00 0.35 0.16 0.17 0.00 0.17 + 0.02 0.27 0.13 0.09 0.08 0.09 - 0.00 0.15 0.05 0.13 0.11 0.13 + 0.02 0.17 0.06 0.23 0.23 0.23 unch 0.00 0.40 0.22 0.07 0.06 0.06 + 0.01 0.13 0.05 0.07 0.04 0.05 unch 0.00 0.11 0.00 0.12 0.11 0.12 unch 0.00 0.21 0.10

N-O NACCO Ind* Namibia Crit Namibia Crit* Natural Res Pt* Navis Res Corp* NEO Battery NEO Battery* Neometals* Network Expl Network Expl* Nevada Canyon* Nevada Copper* Nevada Copper Nevada Expl * Nevada Expl Nevada King* Nevada King Nevada Lithium Nevada Lithiu* Nevada Silver Nevada Sunrise

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

139 160 350 238 1 722 212 83 70 50 8 631 2035 906 376 902 885 515 223 411 946

44.30 0.25 0.22 45.64 0.38 0.40 0.32 1.50 0.31 0.25 0.62 0.55 0.68 0.06 0.07 0.39 0.49 0.27 0.36 0.30 0.08

40.10 0.22 0.18 40.31 0.00 0.34 0.25 1.26 0.26 0.21 0.60 0.49 0.60 0.05 0.06 0.35 0.45 0.22 0.19 0.26 0.06

44.30 + 0.22 0.18 45.41 + 0.38 + 0.36 + 0.28 + 1.31 0.26 0.22 0.62 unch 0.51 + 0.64 + 0.05 + 0.07 unch 0.37 + 0.47 + 0.26 + 0.21 + 0.29 0.08 +

3.62 44.00 20.75 0.02 0.43 0.20 0.02 0.40 0.15 2.43 45.64 15.17 0.02 3.00 0.30 0.04 1.31 0.16 0.02 1.21 0.12 0.16 1.50 0.27 0.05 1.20 0.19 0.02 1.00 0.15 0.00 1.07 0.32 0.01 0.99 0.39 0.02 3.15 0.49 0.00 0.17 0.04 0.00 0.22 0.06 0.00 1.50 0.23 0.01 0.84 0.27 0.02 0.78 0.22 0.01 0.75 0.18 0.01 0.60 0.22 0.02 0.11 0.05

(100s) Stock

Exc Volume

Nevada Sunrise* O 1303 Nevada Zinc V 1085 Nevado Res V 0 NevGold* O 41 NevGold V 2006 New Age Metals V 1700 New Age Metals* O 591 New Destiny Mg V 24 New Energy Met* O 14 New Energy Met V 61 New Found Gold V 642 New Gold T 5008 New Gold* X 24154 New Pac Metals T 233 New Pac Metals* X 559 New Placer V 1945 New Placer* O 393 New Stratus V 756 New Target Mng V 10 New Tech Min* O 0 New Tech Min C 220 New World Res* O 67 Newcore Gold V 284 Newcore Gold* O 162 Newcrest Mg T 500 Newcrest Mg* O 739 Newlox Gold C 207 Newmac Res V 0 Newmont Corp T 786 Newmont Corp* N 31290 Neworigin Gold V 44 Newport Expl V 175 NewRange Gold* O 85 NewRange Gold V 810 Nexa Resources* N 650 Nexgen Energy T 8871 Nexgen Energy* N 12977 NextSource Mat T 390 Nexus Gold V 505 Nexus Gold* O 214 Nfld Discovery C 205 Nfld Discovery* O 68 NGEx Minerals V 667 NGEx Minerals* O 148 Nickel 28* O 107 Nickel 28 V 779 Nickel Creek* O 907 Nickel Creek T 1161 Nickel North V 386 Nickel Rock V 524 Nickel Rock* O 870 Nicola Mg Inc V 471 Nicola Mg Inc* O 173 Nighthawk Gold* O 131 Nighthawk Gold T 419 Niobay Metals V 167 Niocan Inc V 232 Niocorp Dev T 477 Niocorp Dev* O 681 Nippon Dragon V 123 Nippon Dragon* O 761 Nobel Res V 1499 Nobel Res* O 105 Noble Metal V 17 Noble Mineral V 3237 Noble Mineral* O 972 Noka Res* O 5 Noram Vent V 550 Noram Vent* O 362 Noront Res* O 12 Noront Res V 301 Norra Metals V 84 Norrland Gold V 2 Norse Gold V 40 Norseman Silv V 295 Norsemont Cap* O 43 Norsemont Cap C 195 Nortec Mnls* O 10 Nortec Mnls V 111 North Am Nickl V 0 North Arrow Mn* O 5 North Arrow Mn V 222 North Bay Res * O 133346 North Peak Res* O 422 North Peak Res V 614 North Valley C 102 Northcliff Res T 53 Northern Light C 1308 Northern Light* O 1276 Northern Uran V 533 Northisle C&G V 312 Northisle C&G * O 184 Northstar Gold C 764 Northstar Gold* O 84 Northwest Cop* O 85 Northwest Cop V 453 Norvista Cap V 476 NorZinc T 8948 NorZinc* O 168 Nouveau Monde V 549 Nouveau Monde* N 399 NovaGold Res T 685 NovaGold Res* X 6432 Novo Res T 1433 Nrthn Graphite V 452 Nrthn Graphite* O 353 Nrthn Lion V 0 Nrthn Lion* O 0 Nrthn Mnrls &E* O 50 Nrthn Shield V 78 Nrthn Superior V 280 Nrthn Superior* O 246 NSJ Gold C 92 NSS Res Inc C 261 Nthn Dynasty T 934 Nthn Dynasty* X 14811 Nubian Res* O 8 Nubian Res V 195 Nuinsco Res C 524 Nuinsco Res* O 138 NuLegacy Gold V 1436 NuLegacy Gold* O 679 Nutrien* N 16124 Nutrien T 6602 NV Gold* O 162 NV Gold V 62 O2Gold V 3442 O3 Mining V 186 OceanaGold T 8988 OceanaGold* O 17 Oceanic Iron O V 209 Oceanic Iron O* O 14 Oceanus Res V 1235 Oceanus Res* O 616 Odyssey Res V 0 Olivut Res* O 7 Olivut Res V 25 Omai Gold V 395 Omai Gold* O 176 Omineca Mining* O 113 Omineca Mining V 232 One World Lith* O 195 One World Lith C 1830 Opawica Expl* O 4 Opawica Expl V 66 Ophir Gold V 648 Ophir Gold* O 141 Optimum Vent* O 100 Optimum Vent V 230 Optimus Gold V 1 Opus One Gold V 120 Orca Gold* O 119 Orca Gold V 990 Ord Mountain V 0 Orea Mining T 365 Orea Mining* O 440 Orefinders Res V 479 Orestone Mng V 647 Orex Mnrls* O 45 Orex Mnrls V 138 Orezone Gold* O 195 Orezone Gold T 606 Orford Mining V 519 Origen Res* O 7 Origen Res C 99 Original Sixtn* O 14

(100s) Stock

Week High

Low

Last

12-month Change

High Low

0.06 0.05 0.06 + 0.01 0.10 0.04 0.14 0.11 0.14 + 0.03 0.18 0.05 0.00 0.00 0.11 unch 0.00 0.19 0.10 0.62 0.48 0.62 + 0.14 0.59 0.27 0.82 0.60 0.79 + 0.18 0.82 0.34 0.12 0.11 0.12 + 0.01 0.19 0.09 0.10 0.08 0.09 + 0.01 0.17 0.06 0.05 0.00 0.05 + 0.01 0.10 0.04 0.07 0.07 0.07 - 0.01 0.17 0.04 0.10 0.00 0.10 + 0.01 0.12 0.07 7.93 7.22 7.67 - 0.28 13.50 4.59 2.34 2.15 2.28 - 0.03 2.68 1.29 1.88 1.71 1.83 - 0.01 2.23 1.01 4.21 3.75 3.91 - 0.26 7.64 3.08 3.40 2.99 3.13 - 0.23 5.84 2.38 0.12 0.10 0.10 - 0.01 0.21 0.08 0.09 0.08 0.08 - 0.01 0.17 0.05 0.65 0.58 0.64 + 0.07 0.79 0.19 0.15 0.00 0.15 unch 0.00 0.28 0.13 0.00 0.00 0.05 unch 0.00 0.07 0.04 0.07 0.05 0.06 + 0.01 0.08 0.04 2.37 2.23 2.34 + 0.10 4.10 1.59 0.53 0.49 0.51 - 0.01 0.74 0.45 0.43 0.39 0.41 - 0.02 0.61 0.35 26.45 24.88 26.29 + 0.79 28.00 19.11 21.03 19.80 20.95 + 0.68 22.70 14.81 0.24 0.21 0.22 - 0.02 0.61 0.19 0.00 0.00 0.29 unch 0.00 0.31 0.14 104.44 99.17 103.18 - 0.29 104.44 66.25 83.72 79.16 82.12 - 0.66 83.72 52.60 0.12 0.00 0.12 + 0.01 0.29 0.08 0.46 0.46 0.46 - 0.01 0.54 0.34 0.05 0.05 0.05 - 0.01 0.17 0.04 0.07 0.06 0.06 - 0.01 0.22 0.06 10.43 9.48 10.43 + 0.63 12.86 6.50 7.88 6.72 7.79 + 0.74 8.09 4.31 6.27 5.37 6.19 + 0.56 6.50 3.43 3.82 3.47 3.60 - 0.09 4.90 1.77 0.03 0.02 0.02 - 0.01 0.08 0.02 0.02 0.02 0.02 + 0.00 0.06 0.01 0.28 0.26 0.27 + 0.02 0.63 0.25 0.22 0.20 0.22 + 0.00 0.52 0.20 3.67 2.99 3.51 + 0.44 3.35 0.52 2.59 0.00 2.59 + 0.46 5.00 0.43 1.25 1.08 1.20 + 0.08 2.00 0.38 1.54 1.35 1.51 + 0.08 1.61 0.46 0.09 0.07 0.08 - 0.01 0.13 0.05 0.11 0.09 0.10 - 0.01 0.16 0.07 0.07 0.05 0.06 - 0.01 0.07 0.03 0.15 0.13 0.14 unch 0.00 0.23 0.07 0.12 0.10 0.11 - 0.00 0.19 0.06 0.10 0.00 0.09 - 0.01 0.25 0.07 0.08 0.07 0.08 + 0.00 0.20 0.06 0.71 0.63 0.63 - 0.09 1.12 0.52 0.89 0.77 0.77 - 0.12 1.35 0.64 0.22 0.20 0.21 + 0.02 1.07 0.16 0.10 0.00 0.10 unch 0.00 0.17 0.09 1.15 1.06 1.08 + 0.01 1.84 0.90 0.93 0.83 0.86 - 0.02 1.48 0.70 0.02 0.00 0.02 unch 0.00 0.08 0.02 0.02 0.01 0.01 - 0.01 0.04 0.00 0.25 0.19 0.19 unch 0.00 1.03 0.13 0.20 0.15 0.16 + 0.01 0.87 0.10 0.02 0.00 0.02 + 0.01 0.02 0.01 0.17 0.15 0.16 unch 0.00 0.17 0.10 0.14 0.12 0.12 + 0.00 0.14 0.08 0.33 0.00 0.32 - 0.02 0.74 0.29 0.83 0.75 0.82 + 0.07 1.05 0.44 0.66 0.60 0.64 + 0.02 0.88 0.34 0.88 0.87 0.87 - 0.00 0.94 0.18 1.10 0.00 1.10 + 0.01 1.11 0.23 0.08 0.00 0.07 - 0.01 0.11 0.04 0.17 0.00 0.17 + 0.01 0.39 0.12 0.05 0.00 0.05 - 0.01 0.13 0.05 0.22 0.18 0.22 + 0.02 0.48 0.17 0.64 0.60 0.61 - 0.04 0.86 0.36 0.81 0.75 0.76 - 0.04 1.11 0.45 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.02 0.00 0.02 unch 0.00 0.06 0.02 0.00 0.00 0.58 unch 0.00 0.65 0.22 0.10 0.00 0.10 + 0.01 0.12 0.05 0.12 0.11 0.11 - 0.01 0.14 0.07 0.00 0.00 0.00 unch 0.00 0.00 0.00 2.05 1.56 1.83 - 0.11 4.60 0.25 2.56 1.91 2.31 - 0.13 5.85 0.36 0.08 0.00 0.08 + 0.03 0.10 0.06 0.05 0.00 0.04 - 0.01 0.06 0.03 0.02 0.02 0.02 unch 0.00 0.07 0.02 0.02 0.01 0.01 - 0.00 0.09 0.01 0.04 0.03 0.04 unch 0.00 0.09 0.01 0.41 0.38 0.40 + 0.01 0.55 0.16 0.33 0.30 0.32 + 0.01 0.46 0.00 0.17 0.15 0.15 - 0.01 0.45 0.15 0.13 0.12 0.12 - 0.00 0.36 0.12 0.58 0.54 0.57 - 0.00 0.91 0.40 0.73 0.68 0.71 - 0.01 1.10 0.50 0.07 0.06 0.07 - 0.01 0.15 0.06 0.04 0.04 0.04 unch 0.00 0.09 0.04 0.03 0.03 0.03 - 0.00 0.07 0.03 9.04 7.84 8.03 - 0.85 19.18 6.36 7.30 6.22 6.38 - 0.78 16.29 5.07 10.13 9.53 9.89 - 0.07 12.58 7.62 8.18 7.62 7.91 - 0.06 10.45 5.97 1.02 0.89 0.98 unch 0.00 2.97 0.89 0.85 0.75 0.76 - 0.03 0.94 0.33 0.69 0.59 0.61 - 0.02 0.77 0.28 0.00 0.00 0.29 unch 0.00 0.49 0.29 0.00 0.00 0.50 unch 0.00 0.50 0.30 0.10 0.08 0.09 - 0.01 0.35 0.07 0.03 0.00 0.03 unch 0.00 0.10 0.02 0.73 0.62 0.63 - 0.11 1.42 0.54 0.58 0.49 0.51 - 0.09 1.14 0.43 0.13 0.10 0.12 + 0.02 0.28 0.06 0.06 0.05 0.05 - 0.01 0.24 0.04 0.56 0.50 0.51 - 0.05 0.85 0.37 0.46 0.40 0.41 - 0.04 0.67 0.29 0.14 0.09 0.09 - 0.04 0.37 0.11 0.15 0.12 0.13 - 0.02 0.47 0.13 0.02 0.02 0.02 + 0.01 0.03 0.01 0.02 0.01 0.01 - 0.00 0.02 0.01 0.06 0.05 0.05 - 0.01 0.20 0.03 0.05 0.04 0.04 + 0.00 0.16 0.02 107.82 100.65 106.02 + 2.25 108.84 52.28 135.94 125.55 133.27 + 3.47 136.25 66.05 0.10 0.09 0.10 + 0.01 0.34 0.09 0.12 0.00 0.12 - 0.01 0.40 0.12 0.04 0.03 0.04 + 0.01 0.38 0.03 2.36 2.17 2.32 - 0.04 2.79 1.89 3.09 2.77 3.07 + 0.16 3.01 1.79 2.31 2.24 2.30 - 0.01 2.31 1.48 0.16 0.00 0.13 - 0.03 0.32 0.10 0.12 0.12 0.12 unch 0.00 0.25 0.09 0.66 0.59 0.61 - 0.02 0.79 0.43 0.53 0.48 0.49 - 0.01 0.67 0.33 0.00 0.00 0.05 unch 0.00 0.06 0.03 0.05 0.04 0.04 - 0.00 0.11 0.03 0.07 0.00 0.07 unch 0.00 0.08 0.04 0.12 0.00 0.12 + 0.01 0.23 0.09 0.10 0.08 0.10 + 0.02 0.27 0.00 0.14 0.13 0.14 - 0.00 0.26 0.09 0.18 0.16 0.17 unch 0.00 0.32 0.12 0.07 0.06 0.06 - 0.00 0.11 0.03 0.09 0.07 0.08 - 0.01 0.13 0.03 0.26 0.25 0.25 + 0.01 0.54 0.20 0.33 0.00 0.28 - 0.04 0.65 0.26 0.09 0.08 0.09 + 0.01 0.25 0.07 0.07 0.00 0.06 - 0.01 0.22 0.06 0.57 0.44 0.44 - 0.14 0.62 0.28 0.74 0.55 0.60 - 0.11 0.80 0.35 0.19 0.00 0.19 - 0.01 0.35 0.11 0.05 0.00 0.05 + 0.01 0.08 0.03 0.70 0.66 0.68 - 0.03 0.75 0.32 0.90 0.83 0.85 - 0.04 0.94 0.40 0.00 0.00 0.20 unch 0.00 0.20 0.20 0.09 0.09 0.09 - 0.01 0.31 0.08 0.08 0.07 0.07 - 0.00 0.26 0.06 0.06 0.00 0.05 + 0.01 0.12 0.05 0.06 0.00 0.05 - 0.01 0.11 0.05 0.07 0.06 0.06 + 0.00 0.16 0.06 0.08 0.00 0.08 unch 0.00 0.20 0.08 1.40 1.20 1.27 - 0.08 1.40 0.74 1.74 1.52 1.60 - 0.11 1.74 0.94 0.16 0.00 0.14 + 0.01 0.27 0.12 0.17 0.15 0.17 - 0.01 0.33 0.15 0.22 0.00 0.22 unch 0.00 0.55 0.17 1.00 1.00 1.00 unch 0.00 1.50 0.06

Exc Volume

Orla Mining Oroco Res* Oroco Res Orsu Metals Orsu Metals* Orvana Mnrls Orvana Mnrls* Osino Res* Osino Res Osisko Dev* Osisko Gold* Osisko Gold Osisko Metals* Osisko Metals Osisko Mng Inc Outback Gold* Outcrop S&G Outcrop S&G* OZ Minerals*

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

1853 572 729 50 300 123 29 147 370 247 4910 2472 771 4817 3624 92 586 335 1

Week High

Low

6.37 1.43 1.78 0.18 0.12 0.46 0.37 1.09 1.35 3.40 13.93 17.47 0.48 0.60 4.32 0.17 0.24 0.19 20.22

5.99 1.33 1.67 0.00 0.12 0.42 0.34 0.95 1.20 3.18 13.19 16.48 0.00 0.42 4.11 0.14 0.21 0.17 19.08

Last

12-month Change

6.21 - 0.05 1.37 - 0.03 1.70 - 0.06 0.15 unch 0.00 0.12 unch 0.00 0.43 + 0.02 0.34 - 0.01 0.98 - 0.05 1.24 - 0.10 3.24 - 0.08 13.77 + 0.16 17.29 + 0.27 0.47 + 0.16 0.59 + 0.17 4.29 + 0.16 0.14 - 0.01 0.22 - 0.02 0.17 - 0.01 19.08 - 0.57

Stock

6.37 3.02 3.66 0.34 0.27 0.54 0.42 1.40 1.61 6.45 15.12 18.59 0.42 0.52 5.02 1.22 0.46 0.40 21.04

Razore Rock Res Ready Set Gold Recharge Res* Red Pine Expl Regulus Res Remington Res Renforth Res* Renforth Res Resolve Vent Reunion Gold Reunion Gold* Revival Gold Revival Gold * Rex Res Reyna Silver* Reyna Silver Rhyolite Res Richmond Mnls Richmond Mnls* Ridgeline Min Ridgestone M’g* Ridgestone M’g Riley Gold Riley Gold* Rio Silver Rio Silver* Rio Tinto* Rio Tinto* Rio Tinto* Rio2 Limited* Rio2 Limited Rise Gold Corp Rise Gold Corp* Riverside Res Riverside Res* RJK Explor* RJK Explor Robex Res Rochester Res* Rochester Res Rock Tech Lith* Rock Tech Lith Rockcliff Met* Rockcliff Met Rockex Mng Rockhaven Re* Rockhaven Res Rockland Res Rockridge Res Rockwealth Res Rogue Res Rojo Res* Rokmaster Res* Rokmaster Res Romios Gold Rs Romios Gold Rs* RooGold RosCan Gold* RosCan Gold Ross River Rover Metals Rover Metals* Royal Fox Gold Royal Fox Gold* Royal Gold* Royal Rd Mnrls RT Minerals RTG Mining Rugby Mng Running Fox Rs Rupert Res* Rupert Res Rusoro Mng* Rusoro Mng

3.71 1.31 1.67 0.15 0.02 0.25 0.21 0.77 1.01 3.06 10.64 13.60 0.27 0.35 2.33 0.13 0.14 0.11 15.58

P-Q P2 Gold* O 110 P2 Gold V 86 Pac Arc Res V 0 Pac Bay Mnrls V 0 Pac Booker Min* O 3 Pac Booker Min V 19 Pac Imperial V 289 Pac Ridge Expl V 675 Pac Ridge Expl* O 105 Pacific Empire* O 100 Pacific Empire V 107 Pacific Silk V 0 Pacton Gold V 540 Paladin Energy* O 7874 Palamina Corp V 58 Palamina Corp* O 10 Palayan Res* O 713 Paleo Resource V 0 Paleo Resource* O 509 Palladium One V 1490 Palladium One* O 381 Pampa Metals* O 501 Pampa Metals C 1702 Pan Am Silver T 1760 Pan Am Silver* D 8897 Pan Global Res* O 133 Pan Global Res V 483 Pancontinental* O 250 Pancontinental V 196 Pangolin Dia V 1 Panoro Mnrls V 180 Panoro Mnrls* O 1556 Pantera Silver V 194 PanTerra Gold* O 30 Pantheon Vent V 176 Para Resources V 126 Paramount Gold* X 2406 Parlane Res V 1031 Pasinex Res C 148 Pasofino Gold* O 21 Pasofino Gold V 27 Patriot Gold C 97 Patriot Gold* O 216 Peabody Enrgy* N 47174 Pegasus Res* O 80 Pegasus Res V 1236 Pelangio Expl* O 2 Pelangio Expl V 37 Peloton Mnrls C 71 Peloton Mnrls* O 153 PepinNini Lith* O 11 Perpetua Res T 58 Perpetua Res* D 409 Perseus Mng T 92 Pershimex Res V 281 Pershing Res* O 1143 Peruvian Metal V 63 Peruvian Metal* O 31 Petra Diamonds* O 131 Petrolympic* O 4 Petrolympic V 11 Phenom Res V 252 Phenom Res* O 269 Phoenix Global* O 5 Phoenix Metals V 16 Pine Cliff En* O 611 Pine Cliff En T 8178 Pivit Explor C 8 PJX Res V 28 Plata Latina V 1 Platinex Inc* O 50 Platinex Inc C 502 Platinum Gp Mt T 499 Platinum Gp Mt* X 4585 Plato Gold V 426 Playfair Mng V 156 Playfair Mng* O 0 PNG Copper C 1186 PolyMet Mng* X 1535 PolyMet Mng T 47 Portofino Res V 715 Portofino Res* O 113 Power Group* O 5 Power Group V 61 Power Metals* O 728 Power Metals V 1679 PPX Mining* O 95 PPX Mining V 82 Precipitate Gl V 79 Precipitate Gl* O 350 Prime Meridian V 0 Prime Mining* O 49 Prime Mining V 1399 Prism Res V 4 Prismo Metals C 0 ProAm Expl V 0 Probe Metals* O 130 Probe Metals V 106 Prog Planet V 519 Prog Planet* O 11 Prospect Ridge C 331 Prosper Gold V 97 Provenance Gld C 384 Providence V 124 Providence Gld* O 44 Pucara Gold V 38 Pucara Gold* O 103 PUF Vent Inc * O 42 Puma Expl* O 174 Puma Expl V 442 Pure Alumina* O 198 Pure Energy* O 182 Pure Energy V 138 Pure Gold Mg* O 5667 Pure Gold Mg V 24917 Purepoint Uran V 3398 Q-Gold Res* O 12 Q-Gold Res V 56 QC Copper V 786 QC Copper* O 1201 QC Precious * O 38 QC Precious V 202 QcX Gold V 123 QcX Gold* O 191 QMC Quantum Ml*O 105 QMC Quantum Ml V 152 QNB Metals C 130 Quadro Res* O 150 Quadro Res V 56 Quantum Batt C 704 Quantum Batt* O 2 Quartz Mtn Res* O 0 Quartz Mtn Res V 3 Quebec Nickel C 246 Quebec Silica C 227 Questex Gold* O 12 Questex Gold V 1462

0.66 0.59 0.59 - 0.05 1.60 0.28 0.75 0.72 0.75 unch 0.00 0.83 0.34 0.00 0.00 0.21 unch 0.00 0.26 0.14 0.00 0.00 0.09 unch 0.00 0.18 0.08 0.45 0.44 0.45 unch 0.00 3.90 0.43 0.70 0.00 0.69 + 0.12 4.99 0.53 0.05 0.00 0.04 unch 0.00 0.06 0.02 0.39 0.31 0.39 + 0.08 0.58 0.10 0.29 0.25 0.29 + 0.05 0.47 0.08 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.04 0.00 0.04 unch 0.00 0.08 0.03 0.00 0.00 0.03 unch 0.00 0.05 0.02 0.42 0.38 0.39 - 0.03 0.88 0.36 0.70 0.55 0.66 + 0.05 0.80 0.27 0.18 0.17 0.17 - 0.01 0.37 0.13 0.15 0.13 0.13 - 0.01 0.36 0.10 0.11 0.08 0.09 - 0.01 0.50 0.03 0.00 0.00 0.02 unch 0.00 0.04 0.01 0.02 0.01 0.02 - 0.00 0.10 0.01 0.26 0.22 0.25 + 0.02 0.37 0.17 0.21 0.00 0.19 + 0.01 0.31 0.13 0.35 0.26 0.28 - 0.00 1.07 0.19 0.36 0.33 0.35 unch 0.00 0.60 0.26 36.19 33.74 35.96 + 0.81 43.95 26.52 28.78 26.89 28.59 + 0.48 36.14 20.74 0.61 0.53 0.57 - 0.01 0.70 0.38 0.75 0.66 0.67 - 0.07 0.87 0.47 0.07 0.06 0.06 + 0.00 0.15 0.06 0.09 0.08 0.09 + 0.02 0.19 0.07 0.01 0.00 0.01 unch 0.00 0.05 0.01 0.19 0.00 0.18 + 0.01 0.22 0.11 0.15 0.00 0.14 + 0.01 0.18 0.08 0.22 0.17 0.20 - 0.02 0.34 0.12 0.06 0.06 0.06 unch 0.00 0.07 0.05 0.08 0.08 0.08 - 0.01 0.58 0.08 0.34 0.31 0.34 + 0.03 0.44 0.27 0.71 0.62 0.64 - 0.00 1.10 0.53 0.11 0.09 0.10 - 0.01 0.59 0.08 0.06 0.00 0.04 - 0.01 0.06 0.02 0.75 0.72 0.72 - 0.01 1.39 0.46 0.95 0.00 0.95 + 0.03 1.68 0.61 0.12 0.00 0.07 - 0.02 0.20 0.05 0.07 0.05 0.05 - 0.01 0.15 0.04 28.88 24.15 27.25 + 1.23 28.40 3.22 0.07 0.06 0.07 + 0.01 0.10 0.02 0.09 0.07 0.08 unch 0.00 0.10 0.04 0.08 0.00 0.08 unch 0.00 0.13 0.07 0.10 0.00 0.10 - 0.01 0.17 0.09 0.09 0.08 0.08 - 0.01 0.12 0.06 0.07 0.06 0.06 unch 0.00 0.09 0.04 0.54 0.51 0.51 unch 0.00 0.54 0.19 5.58 5.08 5.49 + 0.32 11.45 4.17 4.42 4.08 4.35 + 0.23 9.42 3.25 1.75 1.57 1.65 - 0.07 1.88 1.05 0.04 0.04 0.04 unch 0.00 0.07 0.03 0.09 0.07 0.07 - 0.01 0.09 0.01 0.17 0.15 0.15 - 0.03 0.22 0.10 0.14 0.13 0.13 - 0.01 0.18 0.02 1.77 0.00 1.64 unch 0.00 1.77 0.01 0.04 0.04 0.04 unch 0.00 0.09 0.04 0.08 0.00 0.08 + 0.01 0.12 0.04 0.74 0.67 0.70 unch 0.00 0.85 0.35 0.60 0.53 0.55 - 0.02 1.10 0.25 0.96 0.84 0.96 + 0.12 1.29 0.40 0.14 0.00 0.14 unch 0.00 0.55 0.13 1.30 0.98 1.28 + 0.30 1.20 0.20 1.64 1.23 1.57 + 0.33 1.52 0.24 0.25 0.00 0.18 unch 0.00 0.35 0.13 0.19 0.00 0.19 + 0.01 0.24 0.15 0.03 0.00 0.03 - 0.01 0.05 0.02 0.04 0.04 0.04 unch 0.00 0.05 0.03 0.05 0.00 0.05 + 0.01 0.08 0.04 2.83 2.46 2.53 - 0.18 6.61 1.83 2.29 1.95 2.03 - 0.14 5.34 1.44 0.04 0.00 0.04 - 0.01 0.05 0.02 0.09 0.00 0.08 - 0.01 0.30 0.08 0.07 0.07 0.07 unch 0.00 0.29 0.00 0.07 0.05 0.06 - 0.01 0.17 0.05 4.02 3.66 3.69 - 0.26 4.79 2.41 5.00 4.58 4.66 - 0.25 6.15 3.05 0.12 0.11 0.12 + 0.01 0.17 0.08 0.09 0.08 0.09 + 0.00 0.14 0.06 0.04 0.04 0.04 unch 0.00 0.10 0.02 0.04 0.00 0.04 unch 0.00 0.16 0.03 0.25 0.22 0.23 - 0.00 0.25 0.13 0.31 0.28 0.29 + 0.01 0.31 0.17 0.03 0.03 0.03 unch 0.00 0.50 0.00 0.04 0.00 0.04 - 0.01 0.05 0.03 0.13 0.00 0.13 unch 0.00 0.20 0.07 0.11 0.09 0.09 - 0.00 0.16 0.06 0.00 0.00 0.12 unch 0.00 0.14 0.06 2.95 2.75 2.92 + 0.12 4.15 2.37 3.80 3.34 3.76 + 0.21 5.24 2.95 0.09 0.00 0.09 - 0.01 0.14 0.06 0.00 0.00 0.30 unch 0.00 0.42 0.19 0.00 0.00 0.06 unch 0.00 0.10 0.06 1.70 1.62 1.67 + 0.05 1.85 1.12 2.14 2.02 2.09 - 0.01 2.33 1.40 0.36 0.29 0.36 - 0.01 0.60 0.29 0.31 0.26 0.27 - 0.03 0.48 0.25 0.48 0.40 0.46 + 0.05 2.75 0.20 0.64 0.00 0.58 - 0.04 2.28 0.42 0.14 0.12 0.12 - 0.01 0.18 0.08 0.08 0.07 0.08 unch 0.00 0.10 0.06 0.07 0.05 0.06 - 0.01 0.16 0.00 0.13 0.00 0.12 - 0.01 0.36 0.11 0.11 0.11 0.11 + 0.00 0.30 0.05 0.36 0.00 0.28 - 0.10 5.25 0.28 0.37 0.32 0.34 + 0.00 0.50 0.13 0.46 0.41 0.42 - 0.01 0.64 0.15 0.01 0.01 0.01 - 0.00 0.02 0.00 1.14 0.94 1.05 + 0.10 2.11 0.59 1.34 1.18 1.31 + 0.15 2.60 0.83 0.30 0.18 0.19 - 0.09 1.99 0.18 0.36 0.22 0.25 - 0.12 1.81 0.22 0.13 0.11 0.12 + 0.01 0.20 0.08 0.07 0.07 0.07 unch 0.00 0.24 0.07 0.09 0.00 0.09 - 0.01 0.30 0.07 0.28 0.26 0.27 - 0.01 0.47 0.15 0.22 0.21 0.21 - 0.00 0.37 0.11 0.15 0.14 0.14 - 0.01 0.27 0.11 0.19 0.00 0.17 - 0.01 0.33 0.15 0.06 0.00 0.05 - 0.01 0.26 0.04 0.04 0.03 0.03 - 0.01 0.21 0.03 0.21 0.19 0.21 + 0.01 0.40 0.14 0.27 0.25 0.25 unch 0.00 0.50 0.18 0.18 0.00 0.16 + 0.08 0.25 0.05 0.03 0.03 0.03 - 0.01 0.13 0.02 0.04 0.00 0.04 + 0.01 0.16 0.03 1.01 0.60 0.60 - 0.32 5.85 0.41 0.60 0.00 0.60 - 0.16 5.85 0.37 0.00 0.00 0.22 unch 0.00 0.29 0.00 0.39 0.00 0.30 - 0.06 0.39 0.16 0.20 0.17 0.18 - 0.01 0.41 0.10 0.09 0.00 0.09 + 0.01 0.27 0.05 0.91 0.89 0.89 - 0.01 1.07 0.43 1.14 1.11 1.12 - 0.01 1.37 0.54

R Rackla Metals Rackla Metals* Radisson Mng Radius Gold Rain City Raindrop Vent Rainforest Res* Rainy Mtn Royl Rainy Mtn Royl* Rare Element* Rathdowney Res

V O V V C C O V O O V

384 6 1174 165 20 47 17 2 2 521 1617

0.21 0.12 0.20 0.34 0.05 0.57 2.14 0.21 0.00 1.23 0.03

0.00 0.12 0.19 0.32 0.05 0.49 1.83 0.00 0.00 1.13 0.00

0.17 0.12 unch 0.20 unch 0.32 0.05 unch 0.51 1.97 0.19 0.00 unch 1.19 + 0.03 -

0.24 0.00 0.00 0.03 0.00 0.07 0.02 0.01 0.00 0.02 0.01

(100s)

High Low

0.44 0.33 0.32 0.40 0.12 1.00 3.80 0.26 0.15 2.75 0.06

0.15 0.12 0.19 0.20 0.04 0.43 1.69 0.10 0.00 0.73 0.02

Exc Volume

48 C 95 C O 4179 300 V V 1109 0 V 212 O 150 C 333 V V 3100 582 O 104 V 85 O 35 V O 1104 530 V 59 V 57 V 1 O 218 V 401 O 94 V 97 V 210 O 0 V 13 O N 14829 10 O 1 O 375 O 336 V 38 C 63 O 411 V 528 O 26 O 17 V 133 V 25 O 3 V 27 O 140 V 97 O 209 C 45 C 398 O 89 V 605 C 421 V 518 V 18 V 437 O 222 O 1112 V V 2097 713 O 108 C 290 O V 5034 0 V V 1209 112 O 902 V 40 O D 2230 278 V 10 V 3 T 276 V 0 V 37 O 734 V 175 O 894 V

Week High

Low

Last

12-month Change

High Low

0.11 0.11 unch 0.00 0.16 0.11 0.16 0.12 0.00 0.12 + 0.01 0.28 0.08 0.06 0.04 0.05 - 0.00 0.53 0.00 0.50 0.43 0.45 + 0.01 0.82 0.37 1.50 0.98 1.18 - 0.11 1.50 0.70 0.00 0.00 0.18 unch 0.00 0.25 0.17 0.11 0.05 0.06 0.05 0.06 - 0.00 0.07 0.07 0.07 - 0.01 0.12 0.06 0.10 0.00 0.10 + 0.01 0.13 0.04 0.33 0.28 0.28 - 0.05 0.36 0.06 0.26 0.22 0.23 - 0.03 0.29 0.04 0.71 0.00 0.71 + 0.03 0.83 0.50 0.56 0.00 0.56 + 0.02 0.67 0.40 0.14 0.00 0.14 + 0.01 0.39 0.13 0.59 0.50 0.51 - 0.04 0.86 0.44 0.72 0.62 0.64 - 0.05 1.06 0.55 1.70 0.52 0.60 0.00 0.56 + 0.02 0.05 0.00 0.05 unch 0.00 0.07 0.03 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.36 0.00 0.36 + 0.01 0.77 0.30 0.02 0.02 0.02 - 0.00 0.18 0.02 0.03 0.00 0.03 unch 0.00 0.23 0.03 0.29 0.26 0.26 - 0.01 0.74 0.22 0.24 0.00 0.23 + 0.02 0.61 0.18 0.00 0.00 0.06 unch 0.00 0.09 0.04 0.11 0.01 0.09 0.05 0.05 - 0.04 82.04 79.62 80.28 - 2.40 95.97 59.58 82.20 0.00 79.68 - 1.66 94.42 57.41 88.77 0.00 87.26 + 2.96 106.55 63.01 0.64 0.58 0.59 - 0.03 0.75 0.40 0.80 0.72 0.74 - 0.04 0.87 0.53 0.79 0.00 0.70 - 0.09 0.99 0.36 0.64 0.56 0.57 - 0.05 0.80 0.28 0.17 0.17 - 0.01 0.23 0.13 0.19 0.15 0.13 0.14 - 0.00 0.19 0.10 0.10 0.09 0.10 + 0.00 0.20 0.01 0.11 0.00 0.11 - 0.01 0.25 0.10 0.35 0.32 0.32 - 0.01 0.48 0.26 0.05 0.05 0.05 unch 0.00 0.12 0.03 0.05 0.00 0.05 unch 0.00 0.14 0.04 4.80 4.39 4.51 - 0.16 7.53 3.09 6.01 5.49 5.57 - 0.33 9.38 3.83 0.05 0.04 0.05 + 0.00 0.07 0.04 0.07 0.06 0.06 - 0.01 0.08 0.05 0.04 0.04 0.04 unch 0.00 0.05 0.03 0.08 0.08 0.08 - 0.01 0.13 0.00 0.11 0.00 0.10 - 0.01 0.15 0.10 0.16 0.13 0.13 - 0.03 0.29 0.13 0.10 0.09 0.09 - 0.01 0.19 0.09 0.39 0.28 0.37 - 0.02 0.45 0.10 0.08 0.00 0.08 unch 0.00 0.16 0.07 1.01 0.32 0.51 0.40 0.41 - 0.05 0.25 0.19 0.19 - 0.05 0.46 0.17 0.30 0.24 0.25 - 0.03 0.58 0.22 0.06 0.05 0.06 + 0.01 0.06 0.04 0.05 0.04 0.05 + 0.00 0.05 0.02 0.14 0.13 0.14 - 0.01 0.43 0.12 0.34 0.30 0.33 + 0.02 0.55 0.11 0.42 0.38 0.42 + 0.02 0.64 0.23 0.00 0.00 0.26 unch 0.00 0.26 0.26 0.05 0.04 0.05 unch 0.00 0.12 0.04 0.04 0.00 0.04 + 0.00 0.12 0.03 0.07 0.00 0.07 + 0.01 0.12 0.04 0.03 0.03 0.03 unch 0.00 0.07 0.03 147.52 140.78 145.05 - 1.28 147.52 92.01 0.30 0.00 0.27 - 0.01 0.40 0.24 0.03 0.00 0.03 unch 0.00 0.18 0.03 0.08 0.00 0.08 unch 0.00 0.23 0.08 0.16 0.00 0.16 + 0.01 0.24 0.09 0.00 0.00 0.02 unch 0.00 0.06 0.02 5.10 4.46 4.46 - 0.74 5.37 3.10 6.77 5.55 5.61 - 0.85 6.77 3.87 0.05 0.05 0.05 - 0.00 0.07 0.03 0.06 0.00 0.06 unch 0.00 0.08 0.04

S 22 C S2 Minerals 759 Sabina Gd&Slvr* O Sabina Gd&Slvr T 4509 150 O Sable Res* 865 V Sable Res 46 V Sailfish Rylty 45 O Salazar Res* 140 V Salazar Res 383 V Sama Res 64 O Sama Res* 0 V Samco Gold 70 V San Lorenzo 77 Sanatana Res* O 131 Sanatana Res V 238 Sandfire Res* O 202 V Sandfire Res Sandstorm Gold* N 9833 Sandstorm Gold T 1742 1213 Santacruz Silv V 258 V Sarama Res 154 O Sassy Res* 315 C Sassy Res 276 V Satori Res 115 O Satori Res* 288 V Saturn Mnrls 0 Savannah Min V 2 V Saville Res 359 Scandium Intl* O 708 Scandium Intl T 273 V Scorpio Gold 192 Scorpio Gold * O 1781 Scotch Creek C 1194 Scotch Creek* O 222 O Scottie Res* 623 V Scottie Res 87 V ScoZinc Mg 302 Seabridge Gld T 1371 Seabridge Gld* N 135 Seahawk Gold C 130 Seahawk Gold* O 525 V Search Mnls 162 Search Mnls* O O 1021 Searchlight* 1815 SearchlightRes V Secova Metals C 1434 41 Secova Metals* O 52 V Sego Res 847 V Select Sands 0 Sennen Potash V 2 T Serabi Gold T 4622 Sherritt Intl 46 Shine Minerals V 1 Shine Minerals* O 3 Sibanye-Stillw* O Sibanye-Stillw* N 20014 Sidney Resrces* O 1057 176 O Sienna Res* 484 V Sienna Res 3 Sierra Grande C 48 Sierra Madre G* O 331 Sierra Madre G V 333 Sierra Metals T Sierra Metals* X 1930 Sigma Lithium* D 3212 368 Sigma Lithium V 598 Signature Res V 240 Signature Res* O 103 Silver Bear Rs T Silver Bear Rs* O 1382 62 T Silver Bull Re 58 Silver Bull Re* O 266 C Silver Dollar 221 Silver Dollar* O 171 T Silver Eleph 63 V Silver Grail 1194 Silver Hammer* O 906 Silver Hammer C 781 O Silver One* 171 V Silver One 0 Silver Phoenix C 10 Silver Predatr* O 0 Silver Predatr V 108 Silver Range* O 53 V Silver Range 239 Silver Sands* O C 1682 Silver Sands 125 Silver Spruce* O Silver Spruce V 1274 V 2593 Silver Valley 370 O Silver Viper* 369 V Silver Viper 166 V Silver Wolf 40 O Silver Wolf* 729 V Silver X 317 O Silver X*

0.27 1.35 1.58 0.18 0.22 1.48 0.24 0.33 0.24 0.18 0.00 0.14 0.14 0.16 0.16 0.19 8.89 11.12 0.49 0.25 0.32 0.40 0.15 0.12 2.99 0.00 0.03 0.12 0.15 0.08 0.06 0.78 0.68 0.20 0.25 0.61 24.32 19.30 0.41 0.26 0.19 0.15 0.09 0.12 0.07 0.06 0.09 0.13 0.00 0.78 0.79 0.14 0.12 4.75 17.47 0.23 0.09 0.11 0.35 0.52 0.64 1.57 1.27 19.48 24.51 0.10 0.08 0.06 0.04 0.29 0.23 0.89 0.72 1.27 0.19 0.59 0.73 0.39 0.49 0.00 0.08 0.00 0.13 0.16 0.10 0.13 0.03 0.05 0.33 0.32 0.40 0.20 0.14 0.28 0.24

0.25 1.14 1.45 0.15 0.18 1.40 0.22 0.28 0.20 0.17 0.00 0.00 0.12 0.15 0.15 0.00 8.32 10.42 0.43 0.23 0.29 0.36 0.14 0.11 2.82 0.00 0.00 0.04 0.13 0.08 0.05 0.58 0.45 0.17 0.22 0.00 22.81 18.23 0.31 0.26 0.17 0.00 0.07 0.09 0.05 0.05 0.00 0.00 0.00 0.00 0.74 0.00 0.12 0.00 15.44 0.16 0.08 0.10 0.00 0.47 0.59 1.41 1.12 15.33 19.18 0.09 0.07 0.00 0.03 0.27 0.19 0.81 0.65 1.11 0.00 0.45 0.57 0.36 0.45 0.00 0.07 0.00 0.11 0.00 0.08 0.10 0.03 0.04 0.17 0.29 0.38 0.00 0.12 0.25 0.20

0.25 1.19 1.48 0.15 0.19 1.40 0.24 + 0.29 0.22 0.18 0.05 unch 0.13 + 0.12 0.15 0.15 0.19 8.81 + 11.06 + 0.46 0.25 + 0.29 0.38 0.15 + 0.11 2.94 + 0.26 unch 0.03 unch 0.10 0.13 0.08 unch 0.06 0.65 unch 0.51 0.19 0.23 0.60 24.23 + 19.28 + 0.34 + 0.26 unch 0.18 + 0.15 + 0.09 + 0.12 + 0.06 unch 0.05 0.09 0.13 + 0.45 unch 0.78 unch 0.77 + 0.14 + 0.12 4.05 + 17.12 + 0.18 0.08 0.10 0.35 + 0.50 + 0.63 + 1.41 1.14 17.02 + 21.47 + 0.10 0.07 0.05 0.04 0.27 0.22 + 0.84 unch 0.67 1.13 0.19 + 0.52 0.65 0.37 0.46 unch 0.31 unch 0.08 + 0.12 unch 0.13 + 0.14 unch 0.08 0.11 0.03 unch 0.04 unch 0.30 + 0.31 0.38 0.18 + 0.13 + 0.28 + 0.22 -

0.02 0.30 0.13 1.71 0.95 0.06 2.14 1.23 0.07 0.01 0.35 0.12 0.03 0.40 0.16 0.07 1.65 1.09 0.00 0.32 0.21 0.03 0.42 0.25 0.02 0.28 0.12 0.02 0.22 0.09 0.00 0.05 0.05 0.01 0.30 0.08 0.01 0.15 0.06 0.01 0.20 0.07 0.01 0.21 0.13 0.02 0.25 0.17 9.31 5.31 0.32 0.45 11.34 6.86 0.02 0.58 0.22 0.02 0.28 0.15 0.02 0.82 0.28 0.02 0.92 0.35 0.01 0.18 0.10 0.00 0.14 0.08 0.02 4.49 2.20 0.00 0.35 0.21 0.00 0.07 0.03 0.01 0.21 0.01 0.01 0.26 0.12 0.17 0.07 0.00 0.00 0.14 0.05 0.00 0.98 0.40 0.02 2.88 0.18 0.00 0.24 0.12 0.01 0.27 0.16 0.01 0.80 0.45 0.45 26.21 18.85 0.30 20.87 14.85 0.01 1.05 0.20 1.24 0.16 0.00 0.01 0.33 0.12 0.01 0.40 0.01 0.01 0.09 0.03 0.11 0.06 0.01 0.00 0.22 0.05 0.01 0.22 0.00 0.01 0.16 0.04 0.01 0.13 0.04 0.00 0.45 0.45 1.49 0.76 0.00 0.01 0.85 0.36 0.17 0.09 0.04 0.00 0.13 0.07 0.04 5.16 2.71 0.52 20.68 11.15 0.03 0.28 0.05 0.01 0.12 0.06 0.02 0.15 0.08 0.13 1.20 0.20 0.02 0.79 0.31 1.07 0.39 0.04 0.11 4.83 1.39 0.09 3.92 1.11 1.49 18.00 3.84 2.18 22.87 4.80 0.01 0.20 0.06 0.00 0.20 0.05 0.01 0.15 0.04 0.00 0.15 0.00 0.01 1.55 0.25 0.01 1.25 0.18 1.36 0.56 0.00 1.11 0.38 0.01 0.14 4.30 1.11 0.01 0.25 0.11 0.05 0.86 0.26 0.07 1.08 0.25 0.01 0.67 0.28 0.00 0.79 0.36 0.00 0.85 0.23 0.01 0.23 0.07 0.00 0.23 0.07 0.02 0.29 0.02 0.00 0.25 0.09 0.01 0.22 0.07 0.01 0.26 0.10 0.00 0.47 0.03 0.11 0.03 0.00 0.14 0.34 0.11 0.01 0.70 0.28 0.02 0.80 0.34 0.01 0.60 0.12 0.00 0.51 0.08 0.02 0.52 0.23 0.01 0.41 0.00

GLOBAL MINING NEWS

(100s) Stock

Week

Exc Volume

Silvercorp Met Silvercorp Met* SilverCrest* SilverCrest Silverstock Silverton Met Silverton Met* Sirios Res* Sirios Res Sitka Gold Sitka Gold* Sixty North Sixty North* Skeena Res SKRR Explor Sky Gold Sky Gold* Skyharbour Res Skyharbour Res* Slam Explor* Slam Explor Slave Lake Zn Slave Lake Zn* Snowline Gold Snowy Owl Sokoman Min Sokoman Min* Solaris Res SolGold plc* SolGold plc SolidusGold Solitario Ex&R Solitario Ex&R* Solstice Gold Sonora Gld & S Sonoro Gold* Sonoro Gold SOPerior Fert South Atlantic* South Atlantic South Star Bat South Star Bat* South32* Southern Copp* Southern Emp* Southern Emp Southern Silvr Southern Silvr* SouthGobi Res Southstone Min Spanish Mtn Gd Spanish Mtn Gd* Sparton Res Sparton Res* SPC Nickel SPC Nickel* Spearmint Res Spearmint Res* Sphinx Res Spruce Ridge R SRG Mining SSR Mining* SSR Mining St Augustine St-Georges Eco St-Georges Eco* St. James Gold St. James Gold* Stakeholdr Gld Stallion Gold Standard Graph* Standard Metal* Standard Uran* Standard Uran Stans Energy Star Diamond Star Diamond* Star Gold* Starcore Intl* Starcore Intl Starr Peak Starr Peak* Stellar Africa* Stellar Africa Stelmine Can Stelmine Can* Steppe Gold Steppe Gold* Sterling Metal Sterling Metal* Stevens Gold* Stevens Gold Stinger Res* Stinger Res Stone Gold Straightup Res Straightup Re* Stratabd Mnr* Stratabd Mnr Strategic Metl Strategic Metl* Strategic Res Stria Lithium Strikepoint Gd Strikepoint Gd* Strongbow Expl Strongbow Expl* Stroud Res Stuhini Explor* Stuhini Explor Stuve Gold Sulliden Mng* Sulliden Mng Summa Silver*

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

THE NORTHERN MINER / APRIL 18—MAY 1, 2022

High

1627 4666 2672 902 50 1165 26 100 559 1315 150 371 45 650 629 107 105 2212 503 651 486 835 1 1049 682 324 375 1362 146 204 0 62 1251 158 0 58 104 4554 3 185 4550 1558 2 4758 42 86 823 1068 65 46 372 398 402 41 198 86 1401 732 0 2222 142 7044 1388 266 2138 1387 114 13 16 14 1939 14 1015 2049 228 704 27 17 2 66 164 154 102 904 1006 1149 181 12 246 104 65 129 25 203 367 93 1 1 425 122 42 113 3297 1393 3020 857 41 52 2 42 0 0 419 743

Low

Last

(100s)

12-month Change

Stock

High Low

4.78 4.40 4.67 + 0.03 8.07 3.95 3.85 3.50 3.71 - 0.01 6.72 3.08 9.58 8.73 9.04 - 0.22 10.40 6.60 11.88 10.97 11.41 - 0.19 12.99 8.30 0.20 0.20 0.20 unch 0.00 0.29 0.17 0.26 0.19 0.19 - 0.03 0.87 0.15 0.19 0.16 0.16 - 0.02 0.64 0.10 0.07 0.07 0.07 - 0.00 0.10 0.04 0.09 0.08 0.09 unch 0.00 0.12 0.06 0.16 0.13 0.14 - 0.01 0.34 0.09 0.13 0.11 0.11 - 0.01 0.27 0.06 0.06 0.05 0.05 - 0.01 0.09 0.04 0.05 0.04 0.04 + 0.00 0.07 0.03 14.45 13.30 13.76 - 0.54 17.11 11.24 0.11 0.08 0.10 + 0.02 0.24 0.07 0.07 0.00 0.07 + 0.01 0.25 0.06 0.05 0.05 0.05 - 0.00 0.21 0.05 0.78 0.67 0.70 + 0.01 0.87 0.31 0.63 0.53 0.55 - 0.01 0.70 0.24 0.03 0.02 0.02 unch 0.00 0.12 0.00 0.05 0.03 0.05 + 0.01 0.16 0.03 0.19 0.14 0.19 + 0.04 0.43 0.06 0.13 0.13 0.13 - 0.00 0.38 0.05 1.34 0.85 1.23 + 0.23 1.05 0.24 0.05 0.00 0.05 - 0.01 0.16 0.05 0.38 0.34 0.37 - 0.01 0.78 0.27 0.30 0.27 0.29 - 0.01 0.64 0.22 14.20 12.27 14.09 + 1.37 17.17 8.46 0.50 0.47 0.48 + 0.00 0.51 0.29 0.64 0.57 0.57 + 0.01 0.64 0.39 0.00 0.00 0.11 unch 0.00 0.12 0.07 1.04 0.96 1.00 - 0.03 1.20 0.53 0.85 0.77 0.82 + 0.00 0.98 0.41 0.18 0.00 0.17 + 0.01 0.25 0.09 0.00 0.00 0.09 unch 0.00 0.09 0.09 0.14 0.14 0.14 - 0.00 0.32 0.11 0.19 0.00 0.19 unch 0.00 0.39 0.14 0.07 0.07 0.07 - 0.01 0.11 0.02 0.04 0.04 0.04 unch 0.00 0.11 0.01 0.05 0.00 0.05 + 0.01 0.10 0.04 0.22 0.16 0.18 + 0.01 0.38 0.10 0.18 0.13 0.14 + 0.00 0.30 0.08 3.87 0.00 3.84 - 0.12 4.09 2.03 79.32 71.96 73.83 - 4.34 83.29 54.92 0.14 0.11 0.11 - 0.02 0.49 0.09 0.14 0.14 0.14 unch 0.00 0.27 0.11 0.34 0.30 0.34 + 0.02 0.63 0.25 0.28 0.24 0.27 + 0.01 0.53 0.19 0.21 0.19 0.19 - 0.02 1.36 0.12 0.04 0.00 0.04 + 0.01 0.07 0.03 0.27 0.00 0.24 - 0.01 0.36 0.17 0.21 0.18 0.19 - 0.02 0.30 0.13 0.08 0.08 0.08 - 0.01 0.18 0.07 0.06 0.06 0.06 - 0.00 0.15 0.01 0.12 0.12 0.12 + 0.01 0.37 0.07 0.09 0.09 0.09 - 0.01 0.15 0.00 0.14 0.13 0.13 + 0.01 0.21 0.09 0.11 0.10 0.11 - 0.00 0.22 0.07 0.00 0.00 0.01 unch 0.00 0.03 0.01 0.11 0.08 0.11 unch 0.00 0.16 0.08 0.93 0.80 0.80 - 0.13 0.95 0.37 23.02 21.32 22.81 + 0.59 22.73 14.19 28.94 26.63 28.66 + 0.86 28.59 18.08 0.10 0.09 0.09 - 0.01 0.19 0.07 0.35 0.31 0.32 - 0.01 0.58 0.22 0.30 0.24 0.25 - 0.01 0.46 0.17 0.84 0.65 0.78 + 0.10 6.25 0.55 0.62 0.53 0.62 + 0.06 4.94 0.46 0.72 0.00 0.65 - 0.11 1.12 0.43 0.33 0.00 0.33 + 0.01 0.60 0.25 0.01 0.01 0.01 + 0.00 0.50 0.01 10.20 8.25 10.00 + 1.01 18.00 0.08 0.19 0.15 0.17 + 0.01 0.39 0.14 0.24 0.20 0.22 + 0.01 0.51 0.17 0.01 0.00 0.01 unch 0.00 0.06 0.01 0.31 0.29 0.30 - 0.01 0.49 0.17 0.25 0.23 0.24 - 0.00 0.37 0.13 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.20 0.17 0.20 + 0.03 0.23 0.16 0.21 0.19 0.21 unch 0.00 0.31 0.19 1.48 1.40 1.45 + 0.02 4.05 1.32 1.18 1.11 1.17 + 0.03 3.56 1.05 0.05 0.05 0.05 + 0.01 1.00 0.01 0.07 0.00 0.06 + 0.01 0.09 0.04 0.30 0.26 0.26 - 0.02 0.35 0.08 0.25 0.21 0.21 - 0.01 0.31 0.12 1.60 1.45 1.55 + 0.09 2.31 1.08 1.26 1.17 1.20 + 0.02 1.92 0.83 0.26 0.00 0.22 - 0.03 0.78 0.21 0.21 0.18 0.18 - 0.01 1.00 0.16 0.19 0.00 0.19 + 0.05 0.44 0.08 0.17 0.16 0.17 unch 0.00 0.35 0.11 0.08 0.00 0.08 - 0.01 0.24 0.01 0.11 0.00 0.11 + 0.01 0.30 0.09 0.26 0.22 0.25 + 0.01 0.26 0.06 0.14 0.00 0.13 - 0.01 0.32 0.10 0.07 0.00 0.07 - 0.03 0.26 0.07 0.07 0.00 0.07 + 0.00 0.25 0.02 0.09 0.00 0.09 + 0.01 0.22 0.07 0.40 0.00 0.40 - 0.01 0.50 0.28 0.32 0.00 0.31 - 0.01 0.41 0.21 0.30 0.00 0.30 + 0.01 0.45 0.22 0.04 0.03 0.03 + 0.01 0.07 0.02 0.10 0.08 0.10 + 0.02 0.28 0.08 0.09 0.06 0.07 + 0.01 0.23 0.06 0.38 0.35 0.38 - 0.01 0.58 0.15 0.32 0.28 0.29 - 0.01 0.44 0.12 0.47 0.00 0.47 + 0.02 0.90 0.24 0.66 0.63 0.63 - 0.03 0.69 0.39 0.82 0.00 0.79 - 0.02 0.99 0.50 0.00 0.00 0.17 unch 0.00 0.30 0.16 0.00 0.00 0.10 unch 0.00 0.21 0.00 0.14 0.00 0.14 + 0.01 0.28 0.08 1.10 0.91 1.05 + 0.05 1.41 0.62

Week

Exc Volume

Summa Silver Sun Peak Metal Sun Summit Sun Summit* Suncor Energy Suncor Energy* Superior Gold* Superior Gold Superior Mng Surge Battery* Surge Battery Surge Copper Surge Copper* Sylla Gold Syrah Res*

V 572 V 136 V 299 O 56 T 28858 N 30912 O 361 V 753 V 1 O 1431 V 337 V 761 O 266 V 39 O 330

High

Low

Last

12-month Change

1.37 1.24 1.29 + 0.05 0.26 0.00 0.25 - 0.01 0.42 0.37 0.39 - 0.03 0.34 0.30 0.31 - 0.02 42.44 39.93 41.27 + 0.25 34.21 31.68 32.82 + 0.05 0.84 0.76 0.84 + 0.08 1.05 0.95 1.05 + 0.11 0.28 0.00 0.28 unch 0.00 0.12 0.10 0.11 + 0.00 0.15 0.00 0.13 unch 0.00 0.30 0.27 0.28 - 0.02 0.24 0.22 0.22 - 0.02 0.17 0.00 0.17 - 0.04 1.37 1.18 1.20 - 0.12

Stock

1.71 0.44 1.35 1.09 43.12 34.21 0.82 1.04 0.80 0.35 0.38 0.54 0.46 0.30 2.48

Trifecta Gold* Trillium Gold Trillium Gold* Trilogy Mtls Trilogy Mtls* TriMetals Mng* Trinity Res* Trinity Valley* Triple Flag TriStar Gold TriStar Gold* Triumph Gold* Triumph Gold Troilus Gold* Troilus Gold Troubadour Res TRU Precious* TRU Precious True North Gem Tsodilo Res Tudor Gold * Tudor Gold Turmalina Met* Turmalina Met Turquoise HIl* Turquoise HIl TVI Pacific TVI Pacific* Tymbal Res

0.80 0.20 0.37 0.30 21.90 17.10 0.35 0.45 0.27 0.05 0.13 0.27 0.21 0.14 0.71

T Taiga Gold C 626 Taiga Gold* O 597 Tajiri Res V 225 Talisker Res T 2396 Talisker Res* O 465 Talmora Diamd C 62 Talon Metals T 5035 Tanqueray Expl V 113 Tantalex Res C 2605 Tanzanian Gold* X 3512 Tanzanian Gold T 220 Tarachi Gold* O 70 Tarachi Gold C 397 Taranis Res* O 171 Taranis Res V 73 Tarku Res V 180 Tarku Res* O 69 Tartisan Nick C 175 Tartisan Nick* O 52 Taseko Mines T 1280 Taseko Mines* X 8651 TDG Gold V 174 Teck Res T 27 Teck Res* N 25724 Teck Res T 12522 Tectonic Metal* O 481 Tectonic Metal V 1061 Temas Res* O 241 Temas Res C 387 Tembo Gold V 75 Tembo Gold* O 10 Tempus Res V 4 Teras Res V 101 Terrax Mnrls* O 408 Terrax Mnrls V 668 Terreno Res V 660 Tesoro Mnrls* O 6 Tesoro Mnrls V 1 Teuton Res* O 64 Teuton Res V 189 Texas Mineral* O 459 Themac Res V 0 Themac Res* O 5 Thesis Gold V 676 Theta Gold* O 28 Thor Explor V 246 Thor Explor* O 30 Three Valley* O 336 Three Valley V 5699 Thunder Mtn Gd* O 97 Thunder Mtn Gd V 0 Thunderstruck V 268 Thunderstruck* O 132 Tier One Silv V 599 Timberline Res V 581 Timberline Res* O 294 Tinka Res* O 107 Tinka Res V 568 Tintina Mines V 24 Tisdale Res V 50 Titan Mining* O 37 Titan Mining T 420 Titanium Corp V 360 TNR Gold V 778 Tocvan Venture* O 2 Tocvan Venture C 386 TomaGold V 355 Tombill Mines V 1311 Tombill Mines* O 788 Tombstone Expl* O 7 Tonogold Res* O 4479 Torex Gold* O 162 Torex Gold T 1831 Torq Resources* O 25 Torq Resources V 281 Tower Res* O 222 Tower Res V 2369 Traction Uran* O 119 Traction Uran C 904 Trailbreaker* O 11 Trailbreaker V 6 Trans Canada V 67 Transatlantic V 643 Transatlantic* O 270 Transforma Res V 0 Transition Met* O 107 Transition Met V 178 Treasury Metal T 531 Treasury Metal* O 190 Trecora Res* N 111 Tres-Or Res V 134 Tres-Or Res* O 1 Trevali Mining T 1205 Tri-River Vent V 0 Trident Gold V 0 Trifecta Gold V 553

(100s)

High Low

0.26 0.25 0.25 unch 0.00 0.27 0.14 0.21 0.19 0.20 - 0.00 0.24 0.00 0.06 0.00 0.06 + 0.01 0.12 0.05 0.27 0.24 0.25 - 0.02 0.38 0.24 0.22 0.19 0.20 - 0.02 0.31 0.19 0.03 0.02 0.02 - 0.01 0.05 0.02 0.84 0.73 0.76 - 0.07 0.89 0.44 7.50 6.32 7.13 + 0.62 20.20 4.52 0.11 0.08 0.09 unch 0.00 0.19 0.04 0.31 0.29 0.31 + 0.01 0.60 0.29 0.39 0.37 0.39 + 0.01 0.76 0.37 0.13 0.12 0.12 unch 0.00 0.35 0.11 0.16 0.14 0.15 - 0.01 0.41 0.14 0.09 0.09 0.09 unch 0.00 0.11 0.07 0.08 0.00 0.08 - 0.03 0.14 0.08 0.09 0.00 0.09 unch 0.00 0.25 0.05 0.10 0.06 0.10 + 0.03 4.84 0.01 0.39 0.35 0.38 + 0.01 0.56 0.30 0.31 0.27 0.30 - 0.01 0.50 0.10 2.99 2.69 2.77 - 0.18 3.22 1.92 2.41 2.15 2.21 - 0.15 2.67 1.49 0.50 0.47 0.49 unch 0.00 0.75 0.38 57.39 54.00 57.00 + 1.43 57.39 28.70 42.78 38.11 41.00 - 1.19 43.18 19.32 53.31 47.83 51.57 - 1.28 54.04 24.36 0.05 0.04 0.04 - 0.00 0.15 0.04 0.06 0.05 0.06 - 0.01 0.18 0.06 0.08 0.08 0.08 - 0.00 1.20 0.08 0.11 0.10 0.10 unch 0.00 1.38 0.10 0.25 0.00 0.25 - 0.02 0.36 0.10 0.23 0.19 0.21 - 0.02 0.24 0.09 0.09 0.00 0.09 unch 0.00 0.28 0.07 0.03 0.00 0.03 + 0.01 0.06 0.02 0.20 0.17 0.19 + 0.01 0.25 0.13 0.25 0.22 0.24 + 0.01 0.31 0.16 0.03 0.00 0.03 - 0.01 0.06 0.03 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.04 0.00 0.04 - 0.01 0.06 0.03 1.88 1.67 1.77 + 0.01 2.75 1.36 2.33 2.12 2.25 + 0.04 2.99 1.74 2.20 2.02 2.10 - 0.05 3.05 1.30 0.00 0.00 0.07 unch 0.00 0.12 0.06 0.06 0.06 0.06 unch 0.00 0.22 0.04 2.60 2.15 2.42 + 0.32 3.08 1.10 0.18 0.08 0.15 + 0.05 0.37 0.00 0.31 0.00 0.29 - 0.02 0.45 0.20 0.25 0.23 0.23 - 0.01 1.00 0.17 0.05 0.04 0.04 + 0.00 0.82 0.02 0.07 0.05 0.06 + 0.01 1.02 0.03 0.10 0.00 0.10 + 0.01 0.19 0.06 0.00 0.00 0.10 unch 0.00 0.19 0.10 0.08 0.08 0.08 + 0.01 0.13 0.06 0.06 0.06 0.06 + 0.00 0.09 0.04 0.76 0.65 0.72 - 0.03 1.90 0.53 0.36 0.32 0.33 - 0.01 0.39 0.15 0.29 0.25 0.26 - 0.01 0.34 0.11 0.15 0.13 0.15 + 0.01 0.24 0.11 0.19 0.17 0.19 + 0.02 0.28 0.14 0.06 0.00 0.06 - 0.01 0.08 0.03 0.45 0.00 0.38 - 0.01 0.70 0.02 0.62 0.50 0.50 - 0.06 0.74 0.00 0.79 0.69 0.69 - 0.05 0.79 0.28 1.95 1.55 1.58 + 0.03 2.00 0.20 0.06 0.05 0.06 + 0.01 0.08 0.04 0.60 0.00 0.60 unch 0.00 1.18 0.60 0.87 0.75 0.79 unch 0.00 1.67 0.56 0.07 0.06 0.07 + 0.01 0.08 0.05 0.07 0.07 0.07 unch 0.00 0.29 0.06 0.06 0.05 0.06 unch 0.00 0.35 0.05 1.50 1.26 1.43 - 0.07 2.80 0.51 0.17 0.14 0.14 unch 0.00 0.25 0.09 12.70 11.34 12.31 + 0.09 15.52 8.99 15.90 14.55 15.50 + 0.15 18.72 11.79 0.61 0.56 0.56 - 0.02 0.86 0.43 0.77 0.71 0.71 - 0.02 1.08 0.55 0.21 0.17 0.19 - 0.01 0.21 0.03 0.25 0.21 0.24 - 0.01 0.26 0.04 0.54 0.40 0.48 - 0.05 1.00 0.40 0.62 0.57 0.61 + 0.02 1.08 0.20 0.23 0.23 0.23 unch 0.00 0.38 0.14 0.28 0.00 0.28 + 0.02 0.49 0.17 0.07 0.00 0.07 - 0.01 0.26 0.06 0.03 0.00 0.03 unch 0.00 0.06 0.02 0.02 0.02 0.02 + 0.00 0.05 0.02 0.00 0.00 0.07 unch 0.00 0.25 0.06 0.15 0.12 0.13 + 0.01 0.20 0.07 0.19 0.15 0.15 + 0.01 0.22 0.13 0.67 0.62 0.63 - 0.04 0.98 0.62 0.57 0.47 0.50 - 0.05 0.93 0.47 8.58 8.13 8.30 - 0.16 9.38 7.46 0.10 0.00 0.09 - 0.01 0.16 0.08 0.08 0.08 0.08 - 0.00 0.11 0.05 1.59 1.38 1.52 unch 0.00 2.75 1.13 0.00 0.00 0.04 unch 0.00 0.04 0.04 0.00 0.00 0.09 unch 0.00 0.12 0.09 0.07 0.07 0.07 unch 0.00 0.13 0.06

Week

Exc Volume

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

92 160 37 128 1382 36 51 4 93 185 245 36 273 211 484 0 43 233 0 55 182 601 176 84 2961 1146 481 47 130

U.S. Gold* D U3O8 Corp V Ubique Mineral C UC Res* O Ucore Rare Mtl* O Ucore Rare Mtl V UEX Corp T Ultra Resource* O Ultra Resource V Umbral Enrgy* O Unigold* O Unigold V United Battery* O United Battery C United Res Hdg* O United States A* X United States S* N Universal Cop* O Universal Cop V Universal Vent V Ur-Energy* X Ur-Energy T Uragold Bay Rs V Uranium Energy* X Uranium Hunter* O Uranium Res* X Uranium Roylty V Uranium Roylty* D Uravan Mnrls V USCorp* O Usha Res* O Usha Res V Val-d’Or Mg V Val-d’Or Mg* O Vale* N Valley High Mg* O ValOre Metals* O ValOre Metals V Valorem Res C Valterra Res* O Valterra Res V Vanadian Enrgy* O Vanadian Enrgy V Vanadiumcorp V Vanstar Mng Rs V Vanstar Mng Rs* O Vantex Res V Velocity Mnrls V Velocity Mnrls* O Vendetta Mng* O Vendetta Mng V Venerable Vent V Venture Mnrls* O Verde Potash T Verde Res* O Vertical Expl* O Vertical Expl V Victoria Gold* O Victoria Gold T Victory Nickel C Victory Nickel* O Victory Res C Victory Res* O Virginia Enrgy V Virginia Enrgy* O Viscount Mng V Visible Gold M V Visible Gold M* O Vision Lithium V Vision Lithium* O Visionary Gold V Vista Gold* X Vista Gold T Viva Gold* O Viva Gold V Vizsla Copper V Vizsla Silver V Volatus Cap C Volcanic Gold* O Volcanic Gold V Volt Carbon* O Volt Carbon V

400 307 61 3111 258 122 9819 145 2837 239 72 629 326 500 0 3497 52655 140 645 40 16464 2172 1538 95902 1492 16169 1097 3884 0 53 83 501 2 7 163322 653 317 716 2922 15 1 155 31 462 229 232 1 270 4 355 2342 0 537 1356 14 17 265 203 1126 3262 164 113 55 107 76 102 237 44 4878 2857 1 1107 121 199 50 352 677 5 87 415 209 337

High

Low

Last

12-month Change

0.05 0.05 0.05 unch 0.52 0.49 0.50 unch 0.41 0.39 0.40 1.65 1.35 1.55 + 1.35 1.08 1.23 + 0.16 0.15 0.16 0.20 0.18 0.20 + 0.10 0.10 0.10 unch 19.40 18.25 19.10 + 0.20 0.00 0.19 0.16 0.13 0.15 0.08 0.07 0.07 0.10 0.00 0.10 unch 0.74 0.66 0.69 0.92 0.82 0.87 0.00 0.00 0.18 unch 0.12 0.11 0.11 + 0.15 0.13 0.15 unch 0.00 0.00 0.10 unch 0.61 0.00 0.57 + 1.60 1.48 1.54 1.95 1.86 1.92 0.47 0.37 0.39 0.58 0.47 0.47 30.85 29.41 29.96 38.65 37.00 37.64 0.04 0.00 0.04 unch 0.03 0.02 0.03 + 0.01 0.00 0.01 -

High Low

0.00 0.24 0.00 0.00 1.40 0.48 0.00 1.20 0.34 0.20 3.70 1.13 0.14 3.06 0.87 0.00 0.21 0.08 0.03 0.75 0.00 0.00 0.09 0.09 0.63 18.87 10.50 0.02 0.31 0.14 0.00 0.25 0.11 0.00 0.19 0.07 0.00 0.23 0.09 0.03 1.22 0.52 0.03 1.31 0.66 0.00 0.74 0.14 0.01 0.41 0.02 0.00 0.52 0.11 0.00 0.18 0.08 0.01 1.46 0.50 0.01 2.72 1.31 0.02 3.19 1.86 0.06 0.98 0.27 0.06 1.13 0.34 0.64 30.85 9.75 0.71 38.53 12.15 0.00 0.06 0.03 0.00 0.06 0.02 0.01 0.04 0.01

U-V 7.14 6.09 6.28 - 0.68 13.20 6.01 0.27 0.00 0.25 - 0.02 0.70 0.11 0.09 0.08 0.09 + 0.01 0.10 0.03 6.23 4.81 4.82 - 0.36 29.20 4.84 0.71 0.63 0.67 - 0.01 1.41 0.55 0.85 0.80 0.84 unch 0.00 1.76 0.71 0.45 0.39 0.41 - 0.01 0.60 0.28 0.34 0.22 0.24 - 0.03 0.34 0.11 0.45 0.29 0.30 - 0.04 0.45 0.13 0.10 0.03 0.05 - 0.01 0.12 0.00 0.10 0.09 0.09 - 0.01 0.27 0.07 0.13 0.00 0.11 - 0.01 0.33 0.09 0.40 0.30 0.34 - 0.04 0.90 0.06 0.50 0.41 0.43 - 0.05 1.12 0.38 0.00 0.00 0.05 unch 0.00 0.25 0.01 0.62 0.52 0.55 - 0.05 1.39 0.37 38.23 34.95 35.95 - 1.88 39.25 17.98 0.08 0.06 0.07 + 0.00 0.15 0.01 0.10 0.00 0.09 - 0.01 0.15 0.06 5.17 4.70 4.90 - 0.50 8.25 3.15 1.80 1.54 1.78 + 0.18 2.15 0.97 2.26 1.93 2.23 + 0.20 2.72 1.23 0.56 0.45 0.52 + 0.05 1.13 0.28 5.89 4.57 5.50 + 0.82 5.79 1.89 0.03 0.02 0.02 - 0.00 0.09 0.01 2.01 1.60 1.69 - 0.23 5.70 1.52 5.82 4.84 5.48 + 0.36 7.31 2.75 4.57 3.86 4.39 + 0.28 5.95 2.25 0.00 0.00 0.26 unch 0.00 0.65 0.22 0.01 0.00 0.01 - 0.00 0.07 0.01 0.29 0.00 0.24 - 0.05 0.34 0.15 0.36 0.29 0.30 - 0.07 0.40 0.18 0.17 0.00 0.17 + 0.02 0.21 0.11 0.15 0.11 0.15 + 0.03 0.29 0.03 21.29 19.92 20.10 - 0.73 23.18 11.16 0.01 0.01 0.01 + 0.00 0.07 0.00 0.46 0.39 0.45 + 0.02 0.50 0.16 0.58 0.48 0.57 + 0.03 0.63 0.22 0.03 0.03 0.03 unch 0.00 0.44 0.03 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.03 0.00 0.03 unch 0.00 0.09 0.02 0.04 0.03 0.04 + 0.00 0.10 0.03 0.05 0.00 0.05 unch 0.00 0.13 0.04 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.39 0.37 0.38 + 0.01 1.15 0.36 0.32 0.29 0.30 + 0.00 1.04 0.28 0.19 0.00 0.19 + 0.01 0.38 0.16 0.30 0.00 0.28 - 0.02 0.50 0.28 0.23 0.22 0.22 - 0.01 0.41 0.22 0.05 0.05 0.05 unch 0.00 0.07 0.01 0.07 0.07 0.07 - 0.01 0.07 0.04 0.00 0.00 0.12 unch 0.00 0.13 0.12 0.05 0.05 0.05 unch 0.00 0.12 0.03 8.31 7.18 7.69 + 0.26 9.87 0.88 0.15 0.14 0.15 + 0.00 0.27 0.02 0.08 0.08 0.08 unch 0.00 0.14 0.06 0.08 0.07 0.08 - 0.01 0.20 0.06 12.91 11.83 11.96 - 0.78 18.50 10.03 16.12 14.85 15.04 - 0.92 22.54 12.65 0.03 0.02 0.02 unch 0.00 0.07 0.01 0.02 0.02 0.02 - 0.00 0.06 0.00 0.06 0.00 0.06 unch 0.00 0.14 0.05 0.06 0.04 0.04 - 0.01 0.11 0.04 0.79 0.69 0.75 + 0.01 0.98 0.18 0.62 0.55 0.59 + 0.00 0.79 0.14 0.40 0.35 0.38 - 0.02 0.55 0.33 0.20 0.00 0.19 - 0.01 0.21 0.07 0.15 0.14 0.15 - 0.00 0.16 0.00 0.21 0.17 0.18 unch 0.00 0.34 0.10 0.17 0.14 0.14 + 0.00 0.27 0.07 0.00 0.00 0.07 unch 0.00 0.24 0.06 1.09 1.00 1.02 - 0.04 1.40 0.59 1.34 1.25 1.25 - 0.05 1.72 0.77 0.10 0.10 0.10 - 0.01 0.26 0.06 0.14 0.12 0.12 - 0.01 0.33 0.08 0.20 0.16 0.18 + 0.01 0.70 0.15 2.53 2.31 2.36 - 0.13 3.45 1.54 0.05 0.05 0.05 unch 0.00 0.17 0.05 0.28 0.24 0.24 - 0.02 0.55 0.22 0.35 0.30 0.31 - 0.05 0.67 0.30 0.13 0.08 0.10 - 0.01 0.19 0.06 0.14 0.12 0.13 - 0.01 0.24 0.08

(100s) Stock

Exc Volume

Voyager Metals Voyager Metals* Voyageur Min Voyageur Min Voyageur Min* VR Resources* VR Resources Vulcan Mnrls* Vulcan Mnrls VVC Expl VVC Expl*

V O V C O O V O V V O

153 17 149 58 13 202 162 27 819 311 348

Week

23

12-month

High

Low

Last

Change

0.19 0.25 0.13 0.40 0.11 0.26 0.32 0.21 0.27 0.18 0.15

0.17 0.15 0.00 0.40 0.11 0.24 0.31 0.00 0.24 0.17 0.13

0.18 0.15 0.12 0.40 unch 0.11 0.26 + 0.32 + 0.20 0.24 0.18 unch 0.14 -

0.01 0.01 0.01 0.00 0.00 0.02 0.01 0.01 0.01 0.00 0.00

High Low

0.36 0.32 0.20 0.50 0.25 0.55 0.68 0.80 0.42 0.30 0.50

0.11 0.00 0.08 0.30 0.03 0.20 0.25 0.10 0.14 0.09 0.07

W-Z Walker River V 9579 Walker River* O 424 Wallbridge Mng* O 2109 Wallbridge Mng T 7454 Waraba Gold C 38 Warrior Gold* O 50 Warrior Gold V 487 Waseco Res V 2 Wealth Mnrls* O 399 Wealth Mnrls V 351 Wedgemount ResC 96 Wescan Gldflds* O 1 Wescan Gldflds V 2 Wesdome Gold T 2225 Wesdome Gold* O 589 West High Yld V 315 West Mining* O 108 West Mining C 319 West Red Lake* O 471 West Red Lake C 807 West Vault V 36 Western Alaska V 342 Western Areas* O 10 Western Atlas V 13 Western Atlas* O 2 Western Copper T 1133 Western Copper* X 1880 Western Gold V 6 Western Mag* O 1103 Western Mag V 641 Western Potash T 420 Western Res* O 215 Western Troy C V 1 Western U&V C 641 Western U&V* O 391 Westgold Res* O 15 Westhaven Gold V 4622 Westhaven Gold* O 825 Westkam Gold* O 10 Westkam Gold V 26 Westminster Rs V 594 Westminster Rs* O 93 Westward Gold C 662 Wheaton Prec T 4046 Wheaton Prec* N 9900 White Energy* O 181 White Gold* O 78 White Gold V 139 White Metal Rs V 233 Whitehaven Coa* O 113 Whitehorse GC V 253 Wildsky Res* O 4 Wildsky Res V 3 Winshear Gold V 0 Winshear Gold* O 1 Winston Gold C 471 Winston Gold* O 749 Winston Res C 185 Wolfden Res* O 12 Wolfden Res V 814 Wolfeye Res V 178 World Copper V 121 Worldwide Res V 0 X-Terra Res V 1330 X-Terra Res* O 4 Xanadu Mines T 2353 Xander Res V 101 Xander Res* O 44 Ximen Mining* O 418 Ximen Mining V 401 Xplore Res V 274 Xtierra Inc V 24 Xtra-Gold Res T 7 Xtra-Gold Res* O 20 Yamana Gold T 11562 Yamana Gold* N 94640 Yanzhou Coal* O 13 Yorbeau Res* O 129 Yorbeau Res T 1940 York Harbour V 1011 York Harbour* O 91 Zacatecas Silv V 707 Zacatecas Silv* O 321 ZEB Nickel V 34 Zena Mining V 0 Zephyr Mnls V 102 Zephyr Mnls* O 67 Zimtu Capital V 151 Zinc One Res V 10 Zinc One Res * O 2 Zincore Mtls V 0 ZincX Res V 309 ZincX Res* O 53 Zonte Metals V 95 Zonte Metals* O 44

0.10 0.08 0.09 - 0.01 0.14 0.04 0.10 0.06 0.07 - 0.01 0.14 0.01 0.31 0.27 0.29 + 0.02 0.58 0.23 0.39 0.34 0.36 + 0.02 0.67 0.31 0.14 0.14 0.14 unch 0.00 0.21 0.01 0.05 0.05 0.05 unch 0.00 0.09 0.01 0.06 0.06 0.06 unch 0.00 0.10 0.05 0.04 0.00 0.04 unch 0.00 0.06 0.03 0.32 0.26 0.26 - 0.04 0.56 0.19 0.40 0.33 0.33 - 0.06 0.70 0.24 0.25 0.20 0.25 unch 0.00 0.79 0.16 0.08 0.05 0.08 + 0.03 0.10 0.05 0.08 0.00 0.08 unch 0.00 0.12 0.06 16.13 14.44 14.67 - 1.40 16.77 8.62 12.92 11.48 11.68 - 1.14 13.23 6.91 0.63 0.57 0.62 unch 0.00 1.22 0.15 0.07 0.07 0.07 - 0.00 0.40 0.05 0.09 0.09 0.09 + 0.01 0.50 0.08 0.06 0.04 0.05 + 0.01 0.07 0.04 0.07 0.05 0.07 + 0.01 0.10 0.05 1.31 0.00 1.29 + 0.09 1.46 0.90 1.69 1.32 1.68 + 0.23 1.91 0.70 2.77 2.66 2.77 + 0.11 2.76 1.59 0.07 0.00 0.07 unch 0.00 0.13 0.05 0.04 0.04 0.04 unch 0.00 0.09 0.04 2.95 2.64 2.80 - 0.15 3.35 1.49 2.39 2.11 2.26 - 0.10 2.83 1.18 0.21 0.00 0.21 + 0.03 0.47 0.14 0.36 0.29 0.33 + 0.03 0.76 0.08 0.46 0.38 0.41 + 0.03 0.96 0.11 0.43 0.36 0.38 - 0.04 0.48 0.15 0.33 0.28 0.28 - 0.05 1.88 0.07 0.12 0.00 0.12 unch 0.00 0.17 0.12 2.64 2.20 2.49 unch 0.00 4.18 1.15 2.05 1.76 1.95 - 0.03 3.28 0.90 1.47 0.00 1.47 + 0.09 1.75 1.15 0.75 0.41 0.68 + 0.25 0.80 0.33 0.60 0.33 0.55 + 0.20 0.66 0.27 0.10 0.00 0.10 + 0.01 0.18 0.08 0.13 0.00 0.13 + 0.02 0.22 0.10 0.26 0.20 0.24 + 0.01 0.39 0.16 0.16 0.14 0.15 unch 0.00 0.32 0.14 0.14 0.12 0.13 + 0.01 0.33 0.10 62.83 59.43 62.47 + 1.34 64.63 45.76 49.94 47.56 49.70 + 0.83 50.34 36.39 0.02 0.01 0.02 + 0.00 0.12 0.01 0.53 0.47 0.50 - 0.01 0.66 0.37 0.64 0.60 0.60 - 0.03 0.85 0.45 0.08 0.00 0.07 - 0.01 0.16 0.06 3.40 3.10 3.40 + 0.29 3.48 0.90 0.53 0.50 0.50 unch 0.00 1.79 0.43 0.18 0.00 0.18 unch 0.00 0.29 0.01 0.22 0.00 0.22 + 0.04 0.36 0.11 0.00 0.00 0.09 unch 0.00 0.13 0.05 0.08 0.08 0.08 unch 0.00 0.11 0.05 0.05 0.04 0.04 - 0.01 0.14 0.04 0.04 0.03 0.03 - 0.00 0.11 0.03 0.21 0.18 0.18 - 0.03 0.78 0.13 0.21 0.20 0.21 + 0.01 0.40 0.00 0.28 0.25 0.26 + 0.01 0.36 0.15 0.22 0.18 0.18 - 0.03 0.87 0.19 0.67 0.64 0.64 - 0.03 1.05 0.29 0.00 0.00 0.04 unch 0.00 0.07 0.04 0.04 0.00 0.04 unch 0.00 0.11 0.03 0.03 0.02 0.03 unch 0.00 0.10 0.01 0.04 0.03 0.03 + 0.01 0.09 0.02 0.08 0.00 0.07 unch 0.00 0.25 0.06 0.08 0.06 0.06 unch 0.00 0.19 0.04 0.17 0.16 0.16 - 0.01 0.29 0.12 0.22 0.19 0.19 - 0.01 0.37 0.16 0.07 0.00 0.06 + 0.02 0.14 0.04 0.05 0.00 0.04 unch 0.00 0.13 0.03 1.08 1.00 1.04 - 0.03 1.38 0.84 0.86 0.80 0.86 + 0.06 1.15 0.65 7.53 7.08 7.39 + 0.16 7.53 4.78 6.08 5.64 5.88 + 0.11 6.08 3.70 3.35 3.18 3.31 unch 0.00 3.35 1.11 0.05 0.05 0.05 unch 0.00 0.06 0.01 0.07 0.06 0.06 unch 0.00 0.07 0.04 1.34 1.10 1.10 - 0.07 1.37 0.25 1.18 0.88 0.88 - 0.12 1.18 0.03 1.16 1.08 1.14 + 0.01 1.35 0.52 0.93 0.86 0.91 + 0.00 2.02 0.45 0.34 0.00 0.33 - 0.02 0.75 0.16 0.00 0.00 0.09 unch 0.00 0.25 0.08 0.17 0.15 0.16 - 0.01 0.21 0.12 0.14 0.13 0.14 + 0.02 0.17 0.10 0.28 0.00 0.28 + 0.05 0.30 0.20 0.61 0.00 0.54 + 0.02 2.50 0.40 0.49 0.00 0.49 + 0.37 1.27 0.01 0.00 0.00 0.05 unch 0.00 0.05 0.05 0.13 0.12 0.13 + 0.01 0.23 0.10 0.10 0.09 0.09 - 0.01 0.19 0.08 0.20 0.00 0.20 unch 0.00 0.27 0.17 0.15 0.15 0.15 unch 0.00 0.21 0.03

BID-ASK — APRIL 4–8, 2022 12-MONTH STOCK

Aftermath Silv Alacer Gold Amilot Capital Aquila Res Arcturus Vent Ashanti Sanko Atlanta Gold AUQ Gold Aurelius Min Aurex Energy Aust Goldfield Avarone Metals Aya Gold Baden Res Banro Corp* Boss Power Brunswick Res Bullion Gold C2C Gold Cache Explor Cadillac Vent Cerro de Pasc Cirrus Gold Cliffs Nat Res* CNRP Mng Corvus Gold* Crystal Peak EEE Explor Electra Stone Equitorial Ex Everton Res Evolution Glob Evolving Gold Excalibur Res Exploits Disc Explorex Res Finore Mng Four Nines

12-MONTH

EXC

BID

ASK

LAST

HIGH

LOW

STOCK

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

0.24 9.41 ... ...

0.02 0.03 0.03 0.33 0.13 0.04 ... ...

1.94 0.12 0.11 0.17 ...

0.06 ...

0.16 0.05 ...

0.20 1.45 0.19 ...

0.01 0.12 0.01 0.08 0.10 0.50 0.30 0.09 ... ...

0.12 0.66

0.25 9.52 ... ...

0.03 0.03 0.04 0.40 0.14 0.06 ... ...

2.19 0.16 0.11 0.20 0.05 0.15 ...

0.17 0.06 ...

0.35 3.20 0.20 ...

0.02 0.17 0.02 0.08 0.10 4.00 0.59 0.10 ...

6.50 0.12 0.75

0.25 9.47 0.04 0.09 0.03 0.03 0.03 0.40 0.14 0.05 0.47 0.04 2.01 0.13 0.11 0.17 0.03 0.10 0.11 0.16 0.05 0.29 0.30 1.43 0.19 3.21 0.01 0.15 0.01 0.08 0.03 2.00 0.35 0.10 0.59 2.85 0.11 0.70

0.33 10.82 0.08 0.14 0.04 0.04 0.04

0.05 3.50 0.04 0.06 0.02 0.02 0.03

0.15

0.03

0.47 0.15 2.50 0.20 2.10

0.42 0.03 0.82 0.12 0.10

0.28 0.15

0.01 0.03

0.12 0.34 0.30 7.17 0.49 3.30 0.10 0.25

0.05 0.12 0.12 0.98 0.18 1.90 0.01 0.14

0.11

0.07

1.00 0.11 0.62 9.95

0.28 0.01 0.13 2.85

0.79

0.44

GAR Limited General Moly* Genius Metals Gespeg Res Gldn Predator Global Cop Grp Goldbelt Emp Goldblock Cap Golden Cariboo GoldHaven Res Goldshore Res Green Arrow Handa Mining Highvista Gold Indico Res Inspiration Mg Intl Battery Intl Cobalt Iron South Mng K9 Gold Karora Res Kirkland Lake* Kodiak Copper La Imperial Latin Metals Leo Res Lida Resources Lithium South MAG Silver* Mechel* Meryllion Res MGX Minerals Mich Resources Minecorp Egy Montana Gold Montego Res Navis Res Corp New Klondike

EXC

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

BID

... ... ...

0.06 0.15 0.07 0.02 ...

0.10 ... ...

0.02 0.04 ... ... ... ...

0.20 0.24 0.17 0.47 ...

0.05 0.04 0.03 ... ...

0.31 12.52 ... ...

0.05 0.37 ...

0.09 0.02 ...

0.01

12-MONTH

ASK

LAST

HIGH

LOW

STOCK

... ... ...

0.06 0.17 0.08 0.02 ...

0.12 ...

375.00 0.03 0.05 ...

0.01 ... ...

0.25 0.27 0.24 0.48 ...

0.06 0.05 0.04 ... ...

0.34 13.30 ... ...

0.05 0.50 ...

0.10 0.02 ...

0.01

0.15 0.11 0.22 0.06 0.16 0.08 0.02 0.32 0.10 0.42 0.11 0.02 0.04 0.17 0.01 0.03 0.31 0.26 0.24 0.24 0.48 38.92 0.05 0.04 0.03 1.09 0.24 0.31 12.52 2.25 0.08 0.05 0.37 0.12 0.10 0.02 0.30 0.01

4.13 100.00 0.28

0.13 0.10 0.17

0.36 0.11 0.02 0.32 0.15 0.45 1.20 0.04 0.05

0.12 0.04 0.02 0.26 0.02 0.06 0.48 0.02 0.04

Nexco Res O2Gold Orocobre Otso Gold Patriot Batt Phenom Res Primary Energy Prospero Silvr Quaterra Res Quinto Res Rain City Rare Element* Razore Rock Res Reliant Gold Rockex Mng Rockland Mnls Silverstock Southern Arc Southstone Min Standard Lith Supernova Met Tiger Intl Trench Metals TriMetals Mng Trinity Valley Vale* ValOre Metals Vatic Vent Volatus Cap Waraba Gold West Oak Gold Whitemud Res Winshear Gold Xiana Mng Zara Res Zinco Mng

0.50 0.28 0.28 0.73 46.98 0.13 0.10 0.16

0.20 0.04 0.16 0.20 31.72 0.04 0.04 0.02

0.27 0.66 14.40 5.19 0.17 0.16 0.48 0.20 0.10 0.05

0.13 0.24 6.12 1.65 0.05 0.04 0.24 0.07 0.02 0.02

EXC

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

BID

...

0.23 ...

0.04 0.09 0.68 ...

0.55 0.15 0.05 0.05 0.11 0.11 ...

0.04 0.07 0.17 0.32 0.01 6.65 0.05 ...

0.55 0.11 ... ...

0.06 0.05 0.05 0.13 0.12 0.01 0.12 0.07 ...

0.05

ASK

LAST

...

0.27 ...

0.04 0.10 0.71 ...

1.18 0.17 0.07 0.05 0.16 ...

0.10 0.04 0.08 0.23 0.90 0.01 6.95 0.06 0.17 0.55 0.12 ... ...

0.07 ...

0.05 0.18 0.15 0.02 0.14 0.08 ...

0.07

0.30 0.23 8.28 0.04 0.10 0.69 0.17 0.56 0.16 0.08 0.05 0.15 0.11 0.02 0.04 0.08 0.20 0.89 0.01 6.95 0.06 0.15 0.55 0.12 0.04 10.24 0.07 0.10 0.05 0.14 0.15 0.02 0.14 0.08 0.07 0.05

HIGH

LOW

0.35 0.37 9.30 0.10 0.18 0.76 0.82 1.35 0.30

0.25 0.06 3.89 0.03 0.08 0.24 0.16 0.51 0.06

0.12 0.89 0.16

0.04 0.06 0.11

0.05 0.11 0.29 0.93 0.04 6.95 0.07 0.20 0.22 0.12 0.14 11.10 0.13

0.03 0.01 0.17 0.24 0.01 1.02 0.05 0.07 0.04 0.03 0.04 6.57 0.07

0.17 0.21 0.19 0.03 0.15 0.10 0.22

0.05 0.01 0.11 0.01 0.05 0.07 0.07

24

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