The Northern Miner February 22-28, 2016

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FRANCO-NEVADA: CEO DAVID HARQUAIL SEES RIPE MARKET FOR STREAMING/ 3 Geotech_Earlug_2015_VTEM_Colour3.pdf 1 2015-09-25 9:59:47 AM

VTEM™ ZTEM™ Gravity Magnetics Radiometrics Data Processing Interpretation

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UNITED STATES California, Arizona & Nevada / 7–9

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FEBRUARY 22-28, 2016 / VOL. 102 ISSUE 2 / GLOBAL MINING NEWS · SINCE 1915 / $3.99 / WWW.NORTHERNMINER.COM

Goldcorp invests in Gold Standard Ventures NEVADA GOLD

| Railroad land package also entices OceanaGold

Northern Dynasty’s Pebble on ‘cusp of resolution’ ALASKA

| Thiessen: Copper-gold project ‘not a dead duck’ BY LESLEY STOKES lstokes@northernminer.com VANCOUVER

T

here’s more battling ahead for Northern Dynasty Minerals (TSX: NDM; NYSE-MKT: NAK), as it prepares to dispute its case to the U.S. Federal court against the U.S. Environmental Protection Agency’s (EPA) decision to veto development of its world-class Pebble deposit, 321 km southwest of Anchorage, Alaska. Ron Thiessen, president and CEO of Northern Dynasty, said during a session at Vancouver’s Resource Investment Conference in January that the company is “on the cusp of a resolution,” and expects that a final decision will be reached this year. The behemoth porphyry coppergold deposit — which has measured and indicated resources of 57 billion lb. copper and 70 million oz. gold in 6.4 billion tonnes — is located at the headwaters of Bristol Bay,

A drill site at Gold Standard Ventures’ Pinion gold project in northern Nevada.   GOLD STANDARD VENTURES

BY TRISH SAYWELL tsaywell@northernminer.com

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oldcorp (TSX: G; NYSE: GG) has become the second gold miner in less than a year to take a strategic stake in Gold Standard Ventures (TSXV: GSV; NYSE-MKT: GSV) and its Railroad land package in Nevada. The gold major is acquiring 16.1 million shares for $1 per share in exchange for a 9.9% stake in the junior, which has amassed the second-largest land package on the gold-rich Carlin Trend after Newmont Mining (NYSE: NEM). The private placement follows an investment by OceanaGold (TSX: OGC) in May 2015, in which the miner acquired a 14.9% stake in Gold Standard Ventures in exchange for $16.2 million. The Australia-headquartered company can also acquire up to 19.9% of the junior. Jonathan Awde, Gold Standard Ventures’ president and CEO,

describes both investments as a validation of the exploration success the company has had at the Railroad-Pinion project, a nd par ticu larly notewor t hy given the challenging market environment. “The market for the last four years for any precious metal story … has been really challenging, and for us to get that financing done [with OceanaGold] at that time and in the context of that market spoke volumes about the work the team has done, and the land package,” Awde says in an interview. “To have Goldcorp come in … one of the biggest gold producers in the world … it puts Gold Standard in a good financial position, and now we have $40 million in the bank.” Under the latest transaction, Goldcorp has anti-dilution rights to keep its equity ownership interest, as well as the right to participate in future equity financings to acquire up to a 19.9% ownership position in Gold Standard Ventures. The company’s first big gold dis-

See NORTHERN DYNASTY / 2 PM40069240 – PAP Registration #09263

Mac Jackson, Gold Standard Ventures’ vice-president of exploration, holds a core sample from the Railroad gold project in Nevada.   PHOTO BY ALISHA HIYATE

covery on the Railroad land package was the North Bullion sulphide gold deposit in 2011. Metallurgical tests at North Bullion indicate the mineralization is conducive to

roaster processing, with 79–90% gold recoveries. High-grade drill intercepts from North Bullion See GOLDCORP / 2

URANIUM: JUNIOR EXECS HAVE SUNNY OUTLOOK / 3

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