The Northern Miner July 25 2022 Issue 15

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Umicore to build $1.5B battery materials factory in Ontario | Plant will be the ‘missing link’ between Canada’s resource wealth and the EV value chain, says CEO

ELECTRIC VEHICLES

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BY NAIMUL KARIM

elgium-based Umicore, a circular materials technology firm, plans to invest $1.5 billion to build a manufacturing plant in Ontario for cathode active battery materials and their precursor ingredients.

The company aims to start construction in 2023 and kick off operations at the end of 2025, with the goal of supplying battery components to about 1 million electric vehicles a year by 2030.

Umicore signed a memorandum of understanding (MOU) with the Canadian government to finalize details of the federal support it will receive for the project.

The plant will be situated in Loyalist Township, about 18 km west of Kingston.

“We have reached a deal with Umicore to build a new battery facility in Loyalist Township,” Prime Minister Justin Trudeau said at a press conference in Kingston, adding the plant will provide “a thousand jobs during construction and hundreds of good longterm positions.”

Trudeau described the investment as “big news,” adding that “Canada isn’t just going to be a global player in electric vehicles, with this and other announcements we made, we demonstrate that we get to be global leaders.”

The MOU finalizes the support application of the project under the federal government’s Strategic Innovation Fund, and follows a recently signed agreement with Loyalist Township to secure a 1.4-sq.-km plot of land.

Canada has upped its efforts to develop a battery eco-system to capitalize on rising demand for electric vehicles and further its efforts to decarbonize. The latest federal budget allocated $3.8 billion for the government’s first-ever Critical Minerals Strategy. The funds, to be distributed over eight years, will help develop domestic capacity to develop electric vehicle components such as batteries and permanent magnets.

In March, Canada announced that auto-maker Stellantis N.V. (NYSE: STLA) and LG Energy Solution would invest over $5 billion to build a large battery plant in Windsor, Ont. The plant is expected to have an annual production capacity of over 45 giga-

Higher copper prices needed to incentivize new production, says Stifel exec | Egizio Bianchini says undercapitalized sector ill equipped to meet looming supply gap COPPER

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“CANADA ISN’T JUST GOING TO BE A GLOBAL PLAYER IN ELECTRIC VEHICLES, WITH THIS AND OTHER ANNOUNCEMENTS WE MADE, WE DEMONSTRATE THAT WE GET TO BE GLOBAL LEADERS.” PRIME MINISTER JUSTIN TRUDEAU

watt hours to produce lithium-ion battery cells.

The mineral-rich nation, however, still lags behind its competitors in China and the U.S. in the battery sector, experts say.

Umicore CEO Mathias Midreich, pointed to Canada’s clean energy, its resource endowment and the availability of a highly skilled workforce as the reasons behind the company’s decision to build a plant in Ontario.

Gigafactory ‘first of its kind’ “This plant gigafactory will be the first of its kind in North America… because it’s going the full way,” he said. “It’s not only doing the end product, which is the cath-

ode material, it’s integrated… from mine to battery including all the upscale steps.”

Midreich noted that the company plans to include refining and recycling in the later steps and said the plant will be the “missing link” between Canada’s natural resources sector and the electric mobility value chain.

Ontario’s trade ministry told The Northern Miner that it would be supporting Umicore but would not disclose its funding amount to ensure its “negotiating position is protected for future investments we compete for.”

“Right now, a number of companies are looking to Ontario to set up shop for their next major investment. Our ministry continues to work with these companies as they explore everything that our province has to offer,” a spokesperson from the Ministry of Economic Development, Job Creation and Trade said.

Umicore currently serves its battery materials customers in Europe through its cathode precursor and cobalt refining plant in Kokkola, Finland, and its battery materials plant in Nysa, Poland. In Asia, Umicore runs plants in Jiangmen, China, and Cheonan, South Korea.

Trudeau noted that Canada’s investment in the battery sector would help improve the lives of Canadians and “make sure that our economy moves forward in a way that is less dependent on fossil fuels.” TNM

GOLD M&A UPDATE / 6

BY HENRY LAZENBY

he current and consensus forecast copper price levels are insufficient to incentivize the new supply that will be needed as the world moves to a fully electrified economy, a senior Stifel GMB analyst tells The Northern Miner.

According to Egizio Bianchini, vice-chairman and Stifel’s head of metals and mining investment banking, the copper industry’s average price and company valuation multiples both need to increase significantly for the industry to even “attempt to deliver an aggressive supply response to expected demand,” he said in an interview.

“The global copper industry is undersized and undercapitalized to deliver a strong supply response to what is expected to be a firm demand profile,” Bianchini said.

According to the Stifel executive, notwithstanding the high margins the sector is currently enjoying, the copper price remains well below incentive pricing when considering the risk factors associated with developing, financing and building a mine in the current environment.

Among the factors increasingly stifling mine development are unpredictable and additional environmental regulations, ESG-related considerations, a deteriorating geopolitical environment, seemingly high incentives for governments to increase their portion of the ‘financial pie’ (also known as resource nationalism), dramatically increasing inflation for goods and services, and the expanding timeframes for executing mine development and construction.

Despite those headwinds, the copper price appears robust compared to trailing prices. At face value, forward-looking copper pricing expectations appear strong enough to entice significant new production to come on stream. However, it’s not that simple, explains Bianchini.While the established global copper produc-

ers are generating margins that historically would have resulted in the addition of substantial new supply, Bianchini says there’s a 12-million-tonne-per-year copper supply gap emerging from 2025 onwards.

“Nothing is coming down to supply pipeline even nearly to cover the missing metal,” he says “The bottom line is that from our perspective, the copper producers versus copper end-users remain undersized and undercapitalized. The top seven public copper producers combined fail to reach a market capitalization of a single top technology company by a long shot,” he said.

What does it all boil down to?

The prospect of much higher copper prices down the line.

See STIFEL / 2

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Ashley Kirwan on starting a data business ‘at the worst possible time’ SPEAKER SERIES

BY NAIMUL KARIM

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hen geologist Ashley Kirwan and her business partner Shastri Ramnath were thinking of starting a consulting company to support miners exploring projects through data in 2012, almost everyone they spoke with said it was a bad idea.

She had just quit her job and the market wasn’t encouraging for young entrepreneurs. And yet, the co-founder of Orix Geoscience followed her gut.

“It was like the worst possible time to start a company… at the start of the bear market and nobody knew us either,” she said on June 8 at the Mining Legends Speaker Series, organized by The Northern Miner, The Canadian Mining Hall of Fame (CMHF) and Young Mining Professionals. “But we saw an opportunity specifically in the junior sector. There were still really good people that had great projects, but they had absolutely no team… so they couldn’t really put together their geological information for investors to get the financing,” she said. “The market opportunity originally was to really support juniors and be the arm of their exploration team.”

Over the last decade, Orix has managed to shape itself into a onestop shop that provides exploration services ranging from drone surveys and historical scanning to digitalizing, database compilation, 3-D modelling and field work.

| Orix Geoscience co-founder describes industry’s data challenge

The company is often hired to manage large datasets or solve geological challenges a team may face, such as creating a drillhole database from historical logs or modelling the geological controls on mineralization in an area.

The 10-year journey though wasn’t easy and the company initially had to accept shares as payment for a lot of the work they did since there were many juniors who couldn’t afford to pay in cash, and also because Orix was relatively unknown. But a number of these firms, when they did end up getting money, eventually became longterm clients.

“It was a natural fit for them to turn to Orix and say, well, can we hire you now? You were there for us at our lowest of the low and shared the risk. We want to hire you now to help us execute on our programs,” she recalled during her chat with Northern Miner Group president Anthony Vaccaro at the event.

While an increasing number of data companies are looking to shift towards artificial intelligence for their analysis, Orix prefers to stick to “first principles.”

“Before you can even talk about machine learning, AI and all these other things, you need to get your historical data in a format that you can actually do something with,” Kirwan explained.

The string of mergers and acquisitions in the industry and people leaving the sector have resulted in

Ashley Kirwan, left, and Northern Miner Group president Anthony Vaccaro at the Mining Legends Speaker Series on June 8 in Toronto. TNM/ERIK ROTTER

“lost boxes of data” that are in warehouses and need to be input into databases. “People have started to realize this… It’s laborious, but we have been doing it for ten years,” she said.

“We work with massive amounts of data, like hundreds and hundreds of banker’s boxes and map tubes and… it’s intimidating to even touch. But if you have a refined process and you’ve got geologists working on it, then there are ways to expedite that.”

Geography to geology Kirwan, who was named one of the

“THE GLOBAL COPPER INDUSTRY IS UNDERSIZED AND UNDERCAPITALIZED TO DELIVER A STRONG SUPPLY RESPONSE TO WHAT IS EXPECTED TO BE A FIRM DEMAND PROFILE.” EGIZIO BIANCHINI, STIFEL GMB VICE-CHAIRMAN ADOBESTOCK

STIFEL from 1

Rising financial risk For illustrative purposes, Bianchini created a fictional copper company, Universal Copper Inc., to demonstrate the sensitivities involved in putting together a finance package for an average copper project. In this scenario, Universal Copper’s project is located in South America. Assuming a 60% debt and 40% equity financing package, US$1.9 billion of the initial capex would be funded through debt.

However, Bianchini notes the size of the debt package would be difficult to stomach for traditional mining credit funds as the average preferred participation is closer to US$200 million. Also, banks prefer to take a smaller hold size, meaning a huge bank syndicate would be required. That would be difficult to manage because it could require at least 10 banks in the syndicate.

Bianchini also notes that banks would want significant participation from export credit agencies

and development finance institutions (ECAs/DFIs), which could account for the lion’s share of the debt package. “Also, given the location in South America, it is likely that country allocation limits for banks and development institutions (DFIs/ECAs) will arise,” he says.

Meanwhile, according to Bianchini, slipping project execution and construction timetables of about five years on average also present a problem.

Another consideration for Universal Copper would be that its lenders would want equity to take priority to help further reduce the period until the first debt service.

These days, the typical fund tenor is closer to seven years and will therefore be very sensitive to delays or issues with the ramp-up or the commissioning of a new project.

“Even with banks who can typically go up to ten or twelve years, with ECA guarantees, there will be considerable focus on commissioning, the ramp-up and unex-

pected delays,” Bianchini said.

On top of these points, Bianchini notes that a project proponent would also require a large insurance package, and lenders would likely demand some form of political risk insurance.

“It is increasingly likely that onerous protections, guarantees and/or covenants will be required, such as completion guarantees from sponsors, restrictions on dividends (especially in the ramp-up phase). [They] require sizable cash sweep (the practice of using a company’s excess cash to pay outstanding debts ahead of the scheduled payment date instead of giving it to their investors or shareholders), an equity-funded cost overrun facility and also probably… a mix of hedging and long-term offtakes to mitigate risk,” Bianchini said.

“This, of course, all takes tremendous due diligence. In the current market, lenders will be very focused on EPC contracting strategy, supply contracts and cost inflation protections.” TNM

100 Global Inspirational Women in Mining by the Women in Mining UK in 2015, didn’t always want to enter the sector. The Sudbury-based consultant had decided to study geography as a student so that she could travel. However, it was a professor of an elective geology course she had taken in university who inspired her to make the change.

While pursuing her undergraduate degree she spent her summers doing field and office work for the Ontario Geological Survey in Sudbury and Matachewan. She then held various roles at FNX Mining

as a student geologist, exploration geologist and production geologist.

Later, she worked with a special projects team focused on complex geological interpretations and 3-D models. (Subsequently, FNX Mining was acquired by KGHM International.)

After that, she landed a job in Nevada with Bridgeport Ventures as a project geologist in January 2011, before becoming a senior exploration project geologist. She worked in that role from July 2011 until May 2012.

When Bridgeport was in the process of being taken over by another firm, Kirwan and her colleague Shastri Ramnath decided to start Orix.

“Because the company was going through a transition, we were either going to go off and do our own thing, or start Orix…we were at a crossroads, we can either find other employment, or we can do this thing that we’ve been talking about for years,” she said.

Today Orix is one of the rare 100% female-owned companies in the mining sector. About half of its employees are women.

The recurring Speaker Series invites CMHF inductees and young talents to connect with young mining professionals — in this case, Kirwan was paired with Pierre Lassonde. To register for the next event featuring Robert Quartermain and Andree St.-Germain, visit https:// events.northernminer.com/speaker-series/. TNM

BHP to speed up US$5.7B Jansen potash mine | Operation could start one year early, in 2026

SASKATCHEWAN

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BY CECILIA JAMASMIE

HP (NYSE: BHP; LSE: BHP; ASX: BHP) is seeking to accelerate construction at its US$5.7-billion Jansen potash project in Saskatchewan as high gas prices and sanctions on key exporters continue to disrupt global supplies of fertilizers.

BHP had originally planned to kick off production at Jansen in 2027. Market conditions, however, have prompted it to attempt bringing forward first production (expected at 4.4 million tonnes of potash per year) to 2026.

The company is also evaluating options to accelerate second stage production, which would add an additional 4 million tonnes per year, at a capital intensity of between US$800 and US$900 per tonne, almost 30% lower than expected for Stage 1.

“We believe BHP needs to hire about 600 miners for Jansen with the labour per tonne deemed lower than [competitors] Nutrien and Mosaic’s incumbent mines as BHP expected to employ less equipment per tonne and other innovation,” BMO Capital Markets fertilizer and chemicals analyst, Joel Jackson, wrote in May. The company completed installing the production and service shafts required for the project, which came at a nearly US$3

billion cost, BHP said on July 19 in its operational review for the year ended June 30.

Potash is a fertilizer that also boosts drought tolerance and improves crop quality. BHP expects potash demand to increase by 15 million tonnes to roughly 105 million tonnes by 2040 or 1.5% to 3% a year, along with the global population and given limited land supply.

Jansen has the potential to produce 17 million tonnes a year under a four-phased development. This would account for about 25% of current global potash demand.

“If we decide to bring on all four stages, and at prices just half of where they are today, we’d be generating around US$4 billion to $US5 billion of EBITDA [earnings before interest, depreciation, tax and amortization] per year,” chief executive Mike Henry said at a mining conference in May. This compares to a five-year average of US$3 billion a year from BHP’s petroleum business.

The ongoing war in Ukraine has left the world not only short of grains and fertilizers as Russia and Belarus account for almost 40% of global production.

Crop nutrients have become more expensive as an increase in natural gas prices has caused costs to soar. TNM

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have been working with a great group of young professionals lately that have generated some interesting conversations. Some of them voiced fears and dismay at what the world is coming to. I understand, we are on one heck of a roller coaster ride right now.

As I was thinking back over my four decades in

BY JENNIFER LEINART the mining industry as a geologist and cost estimator, I realized that we have been here before. History repeats itself over and over again, from social upheaval (the Vietnam War protests to George Floyd) and political (the Cold War to Russia and Ukraine). Everyone is fretting over the high price of gas and I remember the long lines to buy rationed and expensive gas during the Carter era.

When my husband and I bought our first house, it was 1979 and interest rates were skyrocketing. When we made the offer, interest rates were at 8%. By the time we closed, the rate was 10% and rising. A few years later both of us were out of jobs, with two small children and times were tough.

We survived by retreading and changing our careers. The late 80s and now Covid-19 have taught us to be prepared and resilient.

For miners, there’s no question that the current period is a tough one.

The real challenge is not only the severe drop in commodity prices, but the recent escalation in the cost of supplies and labour. As I write this in mid-July, over the last 30 days, copper has dropped 22%, zinc by 16%, gold by 8% and silver by 14%. To add insult to injury, diesel has jumped by 54% since Jan. 1. Suppliers are now raising prices on all items that a mine consumes.

To put all of this into perspective, I looked into the impact that just the diesel price is having on operating costs. Using our modelling software for a mid-sized open pit mine, a 54% rise in diesel prices increased operating costs by 10%. If you then factor in other consumables such as explosives, lube, chemicals, wear parts, and electric power, an increase in operating costs up to 40% is not out of the question. That means that feasibility studies based on higher commodity prices and lower operating costs are simply no longer valid. It is time to take a good look at costs and which projects are still economic under these conditions.

While we generally focus on metals, what about that dirty word — coal?

At least for the short-term, coal is making a comeback. Prices are up; but plans for expanding production are limited. With much of the developed world shunning coal and coal burning plants, energy prices will have to increase across the board until alternate power is able to fill the gap and that impacts all of us.

As Germany has discovered, fossil fuels are required to guard against disruptions. The recent conflict in Ukraine has put the European countries on edge and Germany has announced that it will no longer import Russian coal and oil. Germany is firing up its coal plants in an effort to reduce its reliance on Russian natural gas. It has even been reported that there will be rationing and wood burning this winter.

In Texas, hot summer days triggered emergency curtailment of electricity in mid-July as demand skyrocketed. The problem: no wind! Texas has been reducing the amount of electricity generated by coal to try and combat global warming. The state’s solution was to rely on wind and solar and cheap natural gas. Natural gas prices have increased and supplies cannot keep up with the current electricity demand.

We will all continue to be challenged by energy costs as the world reduces its reliance on fossil fuels. But that only underscores the importance of mining. While I expect that many marginal development projects will be delayed and cost overruns will continue to be a challenge, the world needs mined materials. There is no getting around the fact that the green revolution is simply not possible without minerals. When electric cars require four times as much copper, demand will respond.

Innovation and high-tech advances have made it possible to mine lower grades and recover more metal. The advent of gold heap leaching made it possible to recover gold from low-grade, previously uneconomic deposits and provide a steady stream of new projects. Copper has also benefited from heap-leach technology.

The challenges we face as a society will drive innovation and better ways to conserve our resources. Battery technology has a long way to go to get to the point where solar and wind energy can be stored and used on demand. Data mining and remote sensing will drive the explorationists to find new deposits. Autonomous and semi-autonomous mining will reduce costs while increasing safety.

Money is tight. Good fundamentals using cost data can allow investors to determine which projects can be developed and still manage to survive the inevitable economic disruptions.

The mining industry is strong, we simply have to weather yet another economic bust.

My message to all young professionals making their way in the mining industry is, remember, we have been here before, take heart. I firmly believe this volatility will pass. Our world is changing to become much more metals intensive. As a result, we’ll emerge into something different and better. The mining industry will not lose its place in the global economy, production will shift and innovation will take over. TNM Jennifer Leinart is the director of cost estimating with Costmine (www.Costmine.com) and has over 40 years of experience in the mining industry, from exploration through development and mine operations. She is a specialist in cost and resource estimating and economic analysis, and a licenced professional geologist.

Corrections In our July 11, 2022 issue, our Canada’s Top 10 Precious Metals juniors story contained the following errors. The market cap of the No. 5 company (Osisko Development) was incorrect (it has been taken off the list online and in our digital edition), and the measured and indicated resource for New Pacific Metal’s Silver Sand project was misstated.

We apologize for the errors.

THE VIEW FROM ENGLAND COLUMN

| Time called on mining graduates

BY DR CHRIS HINDE Special to The Northern Miner

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he U.K. is facing a crisis. No, not our mounting supply issues, soaring cost inflation or the sudden change in political leadership; rather, the plummeting numbers of drinking establishments and graduate mining engineers.

A survey in 1577 found that there were over 16,000 alehouses, taverns (generally larger than alehouses and also served wine) and inns in England and Wales. With a combined population 450 years ago of only 4 million, this equated to one drinking establishment for every 250 people. On that basis, there would now be almost 240,000 such establishments in England and Wales to cater for the current population of 59.6 million people.

Taverns can be traced to Roman Britain, and Anglo-Saxon alehouses to the 5th century, but the term ‘public house’ only appeared in the late 17th century, and diarist Samuel Pepys (16331703) described them as “the heart of England.”

Pubs have no strict definition, but the Campaign for Real Ale (CAMRA) states that they have four characteristics: a pub is open to the public without membership or residency; serves draught beer or cider without requiring food to be consumed; has at least one indoor area not laid out for meals; and allows drinks to be bought at a bar (i.e. not only table service).

The real estate consultancy Altus Group reported recently that the number of pubs in England and Wales has fallen to only 39,970, down by more than 7,000 since 2012. Altus blames the sector’s recent decline on Covid19 and soaring costs, especially for energy, but notes that the longer-term difficulties stem from younger people drinking less, cheaper alcohol in supermarkets and high taxation.

The chief executive of the British Beer and Pub Association, Emma McClarkin, said: “When pubs are forced to close it’s a huge loss to the local community, and these numbers paint a devastating picture of how pubs are being lost in villages, towns and cities across the country.”

Although the decline in pubs is shocking, another report published recently is much more serious. The U.K. Mining Education Forum (UKMEF) notes that no one has enrolled in mining engineering or mineral processing undergraduate courses in the country for the past two years. This is since Exeter Univer-

sity ‘paused’ these courses at the U.K.’s last mining colleges, Camborne School of Mines (CSM), in September 2020. As recently as 1990, there were over 300 mining graduates every year from five U.K. mining schools.

UKMEF, which represents senior industry and professional organizations, notes that a modern, high-tech mining industry is essential as British industry shortens its supply chains and moves to a low-carbon economy.

The Forum calls for education schemes to equip sufficient numbers of recruits to the industry with the skills to support a wide range of mining activities both in the U.K. and abroad.

Figures from the U.K.’s Engineering Council highlight the difficulty. Of its 1,237 registered mining and mineral processing engineers, 80% are over the age of 50, and 39% are over the age of 66.

In a report published on July 10 (https://ukmef.org.uk), UKMEF shows that the mining sector could be at risk because of a shortage of suitably skilled graduates. UKMEF calculates that the country needs over 60 new mining engineering and minerals processing graduates every year.

Industry leaders have described the suspension of mining degree courses at CSM as “deeply regrettable” and likely to cause “stunted economic opportunities,” with a knock-on impact on corporate growth and job creation.

The Forum calls for informative programs directed at school students and staff to encourage an understanding of the essential contribution which mining makes to society, and the many rewarding careers it can provide.

Examples include the burgeoning lithium-extraction projects in Cornwall and the mooted new metallurgical coal mine in Cumbria (on which a planning decision has been delayed pending the election of a new prime minister).

UKMEF believes that without the domestic provision of mining engineering and associated degrees, the country will be increasingly unable to utilize its many and varied natural resources, and will necessarily become more reliant on imports of vital minerals and materials.

This is not an issue that is unique to the U.K., of course, but here it is also becoming harder to drown our sorrows. 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.

DEPARTMENTS Special Focus. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Professional Directory.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Market News.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Metal, Mining and Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Stock Tables. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20-23

COMPANY INDEX Agnico Eagle Mines.......................................... 6 Albemarle ..................................................... 5, 14 Anglo American.............................................5, 8 Antofagasta......................................................... 5 Areva.....................................................................7 Avalon Advanced Materials............................ 9 Barrick Gold.............................................. 6, 7, 16 BHP..............................................................2, 5, 8 BTU Metals...........................................................7 Cameco.................................................................7 Canada Silver Cobalt Works..........................12 CanAlaska Uranium...........................................7 Critical Elements Lithium................................12 Dixie Gold.............................................................7 Eldorado Gold...................................................16 EV Nickel..............................................................7 First Quantum Minerals.................................... 8 Franco-Nevada.................................................16 G Mining Ventures...........................................16 Gold Fields.......................................................... 6 Graphite One.....................................................13 Great Bear Royalties......................................... 6 Iconic Minerals..................................................14 IsoEnergy............................................................. 8 Ivanhoe Mines.................................................... 8

Kinross Gold....................................................... 6 Mason Graphite................................................13 Metal Energy ......................................................7 Mkango Resources..........................................10 MP Materials....................................................... 9 Nevada Sunrise Gold......................................13 Newmont............................................................12 Noram Lithium...................................................14 Northern Graphite............................................. 9 Nouveau Monde Graphite........................ 5, 13 Patriot Battery Metals......................................14 Pure Gold Mining............................................... 6 Red Lake Gold.....................................................7 Rio Tinto............................................................... 5 Rock Tech Lithium............................................15 Rogue Resources...............................................7 Royal Gold........................................................... 6 Sandstorm Gold..................................................7 Sigma Lithium....................................................10 Stellantis N.V. ...................................................... 1 Tartisan Nickel...................................................15 Usha Resources................................................14 Vale....................................................................... 8 Vital Metals.......................................................... 9 Yamana Gold...................................................... 6

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 25 — AUGUST 7, 2022

5

Nouveau Monde feasibility study outlines $1.4B integrated graphite mine and battery plant QUEBEC

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| BMO analyst outlines labour availability and equipment delivery as key risks egy,” CEO Eric Desaulniers said in a press release.

BY NAIMUL KARIM

ouveau Monde Graphite (TSXV: NOU; NYSE: NMG) has released an integrated feasibility study for its Matawinie mine and Bécancour battery material plant, both in Quebec, that outlines a $1.4-billion capex.

The projects are located within a 150-km radius of Montreal.

According to the latest study, the Matawinie mine project is expected to produce an average of 103,328 tonnes of graphite concentrate annually over 25 years, with the initial capex pegged at $481 million. At an 8% discount rate, Matawinie would generate a posttax net present value (NPV) of $571 million and an internal rate of return (IRR) of 22.2%.

The Bécancour battery material plant is expected to produce 42,616 tonnes of anode material, 3,007 tonnes of purified jumbo flakes and 18,384 tonnes of byproduct fine flakes on average every year.

The initial capex for the plant is expected to be about $923 million.

At an 8% discount rate, the project would generate a post-tax NPV of $1 billion and a post-tax IRR of 20.4% “Market trends have accelerated in past months and while inflation and logistics turbulences present

Nouveau Monde Graphite’s future commercial operations in Bécancour, Que. NOUVEAU MONDE GRAPHITE

a more challenging environment, we have demonstrated our graphite expertise, advanced manufacturing capacity and complex project management skills to execute our vision,” Arne H Frandsen, the company’s chairman, said in a press release.

Located in Saint-Michel-desSaints, Que., the Matawinie mine project has proven and probable reserves totalling 61.7 million tonnes grading 4.23% graphite for 2.6 million tonnes.

The company is advancing both

the project and the plant through a phased-development approach.

Since September 2018, the company has been operating a flake concentration and demonstration plant as part of the first phase of development. The phase one operations helped establish the capex and opex, among other factors, for Matawinie’s second phase, which includes civil works that started in quarter three of 2021.

For the battery plant, phase one included building a coating module with a 2,000-tonne-per-year

nameplate capacity, a purification demonstration plant and a commercial-scale shaping unit. The feasibility study was part of phase two.

From the final investment decision, Nouveau’s phase two Matawinie mine and Bécancour battery material plant could be built in about 30 months, the company said.

“We have come a long way from our initial Matawinie mine project to develop an integrated operation tailored to the market’s technical requirements and sourcing strat-

Key cost risks In a research note to clients, BMO analyst Robin Fiedler noted that the all-in capex of $1.4 billion for the projects was 10% higher than BMO’s estimate. He also expects “several uncertainties” that could impact capital and operational expenses going forward including purification and coating piloting and ultimate graphite-to-anode processing yields.

He outlined labour availability and equipment delivery as key risks that could further impact the company’s capex.

During the Prospectors and Developers Association of Canada (PDAC) conference in Toronto in June, Nouveau Monde’s Desaulniers highlighted the absence of skilled workers for the battery industry in Canada as a big problem and talked about attracting workers from China where the industry is more developed.

But he said that he was confident Nouveau would be able to supply graphite by 2025.

At press time in Toronto, shares of Nouveau Monde were trading at $5.60 within a 52-week trading range of $4.73 and $11.90. The company has 55.6 million common shares outstanding. TNM

Political changes boost risk for miners in Latin America, report says MARKET INTELLIGENCE

| Chile, Peru, Argentina top spots for mining

BY CECILIA JAMASMIE

A

rising demand to participate in the revenues from natural resources, tougher environmental protection rules and changes to laws are increasing risks for mining and energy companies across Latin America, even in countries once considered safe investment destinations, a new study shows.

According to the 2022 Latin America Mining Risk Index, published by consultancy Americas Market Intelligence (AMI) in early July, Chile — once investors’ darling — now presents more risks, but it remains the most welcoming jurisdiction for miners in the region.

The world’s top copper producer, where global copper giants like Codelco, BHP (NYSE: BHP; LSE: BHP; ASX: BHP), Anglo American (LSE: AAL), Albemarle (NYSE: ALB) and Antofagasta (LSE: ANTO) have mines, scored 68 out of a maximum of 70 points in AMI’s ranking, which places it at the top.

The higher the overall score, the better a jurisdiction is for mining investment because the risks are not as acute, the authors explain.

The nation is redrafting its market-orientated constitution, which dates back to the military dictatorship of Augusto Pinochet. It will hold a nationwide referendum vote on the new text in September, which could bring a full ban to mining in glaciers, many of which are adjacent to lithium deposits.

The new constitution may also include mandatory prior commu-

Chilean protests in Puerto Montt, North Patagonia, in 2019.

NATALIA REYES ESCOBAR/WIKIMEDIA CC 4.0

nity consent on new concessions near Indigenous land claims and the end to ownership of water within concession boundaries, replaced by a water permitting process.

In a mid-July statement to the newspaper El Mercurio (and as reported by Reuters), BHP said that if a new proposed royalty hike is implemented, it may “reevaluate” its invesment plans for the country.

AMI uses a proprietary approach that divides risk into seven overlapping categories, namely political interference, economic pressure, community opposition, legal and regulatory instability, reputational risk, safety and security and operational risk.

Peru ranks second Perhaps surprising in light of recent community opposition-driven tur-

moil, Peru is the second most welcoming jurisdiction, with 61 points and 80 projects on hold.

The mining industry blames President Pedro Castillo for the recent wave of social unrest, which has taken a toll on production. Since the former rural activist from a Marxist party took office, the number of social conflicts is up about 7% as the administration is prioritizing the right to protest over other concerns such as free transit.

“Peru’s political class has generally understood the economic importance of mining and has promoted it accordingly,” Alejandro Alvarez, one of the authors said.

“This may change in next year’s edition of the ranking if the Castillo administration does not manage to harmonize community opposition and social demands with the intrin-

sic importance of the industry to the country’s economy,” Alvarez added.

Argentina, with 56 points, is the third best country for miners and energy firms in Latin America.

The country has attracted over the past year several major players, including the world’s second largest miner Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) and South Korean steelmaker Posco.

Economic pressure may hinder some of the expected growth in the industry, as an ever-present fiscal crisis in Argentina pushes the government to raise taxes on its natural resource sectors, including mining, the report reads.

Brazil holds the fourth position, with 54 points. The country’s diverse geography, history, and people, combined with its decentralized political system, make it challenging to analyze risk on a national level, the authors of the index say.

They highlight an increasing number of projects in the Amazonian basin, thanks to concessions given by President Jair Bolsonaro, which have drawn global criticism.

Costs are another issue in Brazil, as almost everything is more expensive there than in the rest of Latin America, the authors say. Logistical costs in the country are 50% higher than in Canada, the report says.

On top of that, in some Brazilian states like Bahia, security is of grave concern, mostly due to drug trafficking.

Completing the “top five” countries is Panama, with 53 points.

First Quantum Minerals’ (TSX: FM) Cobre Panama put the country on the map by developing the world’s third-largest mine. With little mining history, Panama is only now waking to the industry’s potential, the report reads.

The nation’s mining code, written in 1963, is outdated and fails to incorporate today’s best practices.

Key issues that need to be addressed include adherence to best environmental stewardship practices, such as water, waste, and biodiversity management.

The mining risk index assigns a lower numeric value to countries with adverse environments to miners and investors. Based on that metric, Venezuela, Bolivia and Honduras rank last across all categories, including heightened security, regulatory instability and operational concerns.

The authors of the ranking warn mining investors that country risk is only one of many factors to be considered ahead of project investment or lending.

Of equal or greater importance is the local investment climate, including interests of local stakeholders, fears and aspirations of local communities, the rule of law and security environment, as well as the historical relationship between the local communities and national authorities, among other issues, they say.

The report also highlights that most obstacles to mining projects in Latin America currently originate from local, not national, issues. TNM

6

JULY 25 — AUGUST 7, 2022 / THE NORTHERN MINER

WWW.NORTHERNMINER.COM

Gold Fields offers higher dividends to win Yamana deal backing M&A

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| Potential merger too expensive, no guarantee on profit, investors say

BY CECILIA JAMASMIE

outh African miner Gold Fields (NYSE: GFI; JSE: GFI) promised an improved dividend policy and a Toronto Stock Exchange listing in a bid to win shareholders who have expressed reservations about the planned US$6.7-billion takeover of Canada’s Yamana Gold (TSX: YRI; NYSE: AUY).

The merger, which would create the world’s fourth-largest gold miner and would be expected to surpass Agnico Eagle Mines (TSX: AEM; NYSE: AEM) in a year to take third place, has been criticized

by Gold Fields investors. They claim the transaction is too expensive and does not guarantee growth and profitability.

The gold miner’s shares lost about 20% on May 31, when it announced the all-share transaction, and has not recovered since.

U.K. investment firm Redwheel, one of the South African miner’s top investors, said in June that Gold Fields was making “a serious error” in its takeover strategy.

Gold Fields CEO Chris Griffith, however, said in a July 11 update to investors that the company remained committed to the

Pit activity at Agnico Eagle Mines and Yamana Gold’s Canadian Malartic gold mine in Quebec. YAMANA GOLD

deal, adding that he was “greatly encouraged” by the “constructive” discussions with shareholders over the proposed transaction.

“The acquisition of Yamana represents the culmination of many months of assessing the best option to accelerate Gold Fields’ growth strategy and deliver long-

term shareholder value,” Griffith said.

“Moving now to complete this transaction is the best opportunity for both speed of delivery and value to accelerate the next phase of the company’s growth,” he noted.

Days later, he ruled out further sweetening the deal.

Pure Gold mulls company sale as part of strategic review FINANCING

| Red Lake miner postpones 2022 guidance update

Pure Gold Mining’s namesake mine in Red Lake, Ont. PURE GOLD MINING

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BY CECILIA JAMASMIE

ash-strapped Pure Gold Mining (TSXV: PGM; LSE: PUR) has kicked off a strategic review process that could involve a potential sale or merger of the company, a sale of all or part of its gold mine in Red Lake, Ont., or other long-term financing options.

The evaluation is being conducted with “the objective of maximizing shareholder value and the value of the Pure Gold mine in Ontario,” the Canadian miner said, adding it was postponing a 2022 guidance update, which was previously scheduled to be released in June.

Pure Gold has also re-arranged financing with its lender Sprott Resource Lending Corp., which provided around $12 million of additional liquidity for the next 15 months.

The two firms agreed on temporary reductions to the minimum cash and minimum working capital ratio covenants to US$5 million and 0.75, respectively, for the months ending June 30 and July 31, 2022.

Pure Gold noted it might not be able to comply with its covenants in the future without further amendments from Sprott. At the end of June, the company had $13 million in cash, $21 million in available liquidity

See GOLD FIELDS / 16

Royal Gold acquires Great Bear Royalties for $200M ONTARIO

L (including the additional credit facility), and a net working capital ratio of 0.85.

“The company does not intend to comment further unless and until the board of directors of the company has approved a specific course of action or the company has determined further disclosure is appropriate or necessary,” it said.

The Vancouver-based miner poured first gold at the end of 2020 and announced the start of commercial production in August 2021. Its PureGold mine, however, has struggled to consistently produce at its nameplate capacity of 800 tonnes per day, despite mill upgrades that were intended to increase capacity to 1,000 tonnes per day.

Construction delays, bad scheduling, problems with equipment, and “strategic misalignments” were cited by the miner to explain production shortfalls. The mounting issues triggered a change in leadership early this year.

Production at the mine has continued to decrease, with head grades falling to 4.27 grams gold per tonne in the quarter ended on Mar. 31.

Shares in the company closed 6% down in Toronto on the news on July 12 at 16¢ each, giving Pure Gold a market capitalization of $109.7 million. TNM

Under the new dividend policy, Gold Fields will pay shareholders 30% to 45% of normalized earnings at the interim and final dividend stages, up from a previous payout range of 25% to 35%.

It also promised a 45% payout for the 2023 interim and final dividends after it completes the

friendly acquisition of Yamana.

“It’s really to give comfort to shareholders that there is going to be cash returned to shareholders.

It’s sending a message about our confidence in the deal,” Griffith said in a presentation.

Gold Fields has been looking for assets that would complement its growth strategy and provide operational synergies.

“That’s what the Yamana assets do, they tick all those boxes for us. They bring high-quality assets in Canada, Chile and Brazil, with great pipeline projects in both Canada and Argentina in particular,” Griffith said.

Yamana’s asset portfolio includes the development-stage Wasamac project in Quebec, the Jacobina gold mine in Brazil, the Cerro Moro gold-silver operation in Argentina, and two early-stage projects in Chile. It also holds a 50% stake in Malartic, Canada’s largest operating open pit gold mine.

“We’ve tried for ten years to get into that area of Canada,” Griffith said. “[Malartic is in] one of the best parts of Canada, in one of the best jurisdictions for mining in the world.”

| Inks agreement with Kinross Gold for NSR on high-value project

BY JACKSON CHEN

eading precious metals streaming company Royal Gold (NASDAQ: RGLD) has signed a friendly, allcash deal to acquire Great Bear Royalties (TSXV: GBRR). The $6.65-per-share acquisition price represents a 43% premium to GBR’s 20-day volume-weighted average trading price on the TSX Venture Exchange up to and including July 8, valuing the company at approximately $199.5 million on a fully diluted basis.

Great Bear Royalties’ main asset is a 2% net smelter return royalty that covers the entirety of the Great Bear gold project in the Red Lake district of Ontario indirectly owned and operated by Kinross Gold (TSX: K; NYSE: KGC). As part of the due diligence process, Royal Gold entered into a co-operation agreement with Kinross that provided it access to Kinross personnel and certain non-public information pertaining to the Great Bear project.

In exchange, Royal Gold will amend certain terms of the royalty agreement, including providing an option to Kinross to purchase a 25% interest in the royalty for an amount equal to 25% of the purchase price of Great Bear Royalties, adjusted for inflation. Kinross can choose to exercise the option any time after the transaction closes until either a construction decision is made on the project, or up to 10 years after the transaction closing date, whichever occurs first.

“The royalty represents one of the few royalty interests that meets all the characteristics we seek in our investments, namely the high quality of management, project and jurisdiction,” said Bill Heissenbuttel, president and CEO of Royal Gold, in a release.

“Our unique approach to the transaction allowed us to work closely with Kinross to understand the technical aspects of the

Great Bear project and their vision for the development of what I believe will be a toptier asset in terms of production and mine life.”

Acquired by Kinross earlier this year, the Great Bear project (formerly known as Dixie) is one of the most important gold discoveries in Canada in recent years.

The property is located 25 km southeast of the town of Red Lake, Ont., and comprises 91.4 sq. km of contiguous claims.

About 80% of the property remains unexplored.

Kinross is undertaking a comprehensive exploration and development program at Great Bear to support its vision of a large, long-life mining complex, which includes an initial high-grade open-pit mine and potentially a longer-term, sizeable underground mine. An initial resource is expected by the end of 2022, followed by a prefeasibility study.

Prior to its acquisition, the project has seen more than 340,000 metres of drilling in 794 drill holes, leading to five high-grade gold discoveries. The most significant discovery is the large-scale LP fault zone, which measures 10.8 km in strike length and displays similar geological features to Barrick Gold’s (TSX: ABX; NYSE: GOLD) Hemlo deposit. About 200,000 metres of drilling are planned at the LP fault zone this year.

Commenting on the deal in a research note to clients, Raymond James mining analyst Brian MacArthur noted that the transaction provides Royal Gold with “longer term growth from a project with a strong operator in a low-risk jurisdiction.”

Jackie Przybylowski, a mining analyst at BMO Capital Markets, described the deal as positive for Royal Gold, noting that “the Great Bear project is still in its early stages, and we expect it will continue to grow in value as exploration continues and as de-risking activities move toward production.” TNM

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 25 — AUGUST 7, 2022

7

Two Red Lake hopefuls crater on brewing Barrick beef LAWSUIT

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| Dixie Gold, Red Lake Gold face $120M claim for cancelled options

BY HENRY LAZENBY

he shares of two Red Lake Gold Camp-focused ‘closeology’ plays crashed on July 5 after they made public that Barrick Gold (TSX: ABX; NYSE: GOLD) has named them parties in a $120 million statement of claim for cancelled exploration earn-in option on each of the companies’ respective exploration projects.

Dixie Gold (TSXV: DG) and Red Lake Gold (CSE: RGLD), each headed by CEO Ryan Kalt, revealed in public filings on July 5 that they had each received a statement of claim from Barrick seeking $120 million for a 70% exploration earn-in option in the Red Lake project, in Dixie’s case; and in Red Lake Gold’s Whirlwind Jack project, after both companies terminated their respective earn-in accords with Barrick on June 7.

The narratives behind both juniors’ stories are similar. Dixie Gold announced on Dec. 31, 2019, that it had amassed a dominant land position contiguous to both Great Bear Resources’ emerging Dixie gold and BTU Metals’ (TSXV: BTU) Dixie Halo projects.

Similarly, Red Lake Gold rebranded in mid-2019 from Pivit Exploration to advance the Whirlwind Jack project, immediately west and on-trend of Great Bear’s (now Kinross Gold-owned (TSX: K; NYSE: KGC) Dixie project.

By the fall of 2021, both juniors had engaged with Barrick regarding a potential exploration-focused earn-in agreement on their respective projects. By Nov. 1, 2021, Dixie Gold had signed a formal earn-in agreement with Barrick, enabling it to earn a 70% interest in the Red Lake project. Red Lake Gold signed a similar deal on the same day to platform-in Barrick as the project partner.

However, the happy new working arrangement was to be shortlived. On June 3, Barrick served both junior companies with writs advising them of the imminent threat that they may lose their respective underlying claims due to an assessment credit deficit.

Barrick notified the companies of an impending deficit of the assessment credits required to keep the claims in good standing, according to government rules. Dixie Gold says Barrick was responsible

ON JUNE 3, BARRICK SERVED BOTH COMPANIES WITH WRITS ADVISING THEM THAT THEY MAY LOSE THEIR RESPECTIVE UNDERLYING CLAIMS DUE TO AN ASSESSMENT CREDIT DEFICIT. for doing the work to earn those assessment credits, while Barrick accuses the junior of neglecting to keep the claims in good standing, despite its option on the project.

According to Dixie Gold, Barrick alleged that it had an obligation to maintain the claims for Barrick based on supposed good faith.

Assessment deficits Barrick had served Red Lake Gold with a force majeure declaration on the same day, citing concerns, among other things, community engagement work and title assertions. The notice also instructed Red Lake to act to prevent claim loss at Whirlwind Jack because of an assessment credit deficit.

Again, Barrick claimed Red Lake Gold had an obligation to maintain the claims for Barrick based on a purported good-faith demand.

Barrick’s correspondence was met with the unilateral terminations of the earn-in agreements by Dixie Gold and Red Lake Gold on June 7.

Red Lake terminated the agreement with Barrick citing, among other reasons, the gold major’s failure to meet force majeure threshold requirements, its inability to perform the necessary exploration work needed to keep the claims in good standing and Barrick’s demand that Red Lake Gold use its existing assessment credits for Barrick’s benefit.

In the seven months since the earn-in accord was inked and ultimately terminated, Barrick had only spent $30,538 of the government-prescribed minimum of $416,800 on Whirlwind Jack.

“Red Lake Gold believes that its

shareholders are the rightful beneficiaries of assessment credits, including those held by the corporation from the Red Lake Gold exploration work or otherwise, and that Barrick has no contractual entitlement to demand possession or use of the exploration credits,” said CEO Kalt in a Red Lake Gold press release.

Barrick also demanded that Dixie Gold use existing assessment credits it held for work it had previously done to cure the deficit, while asserting in both cases it was the respondents’ responsibility to keep the claims in good standing regardless of Barrick’s stated plans and actual activities.

The Northern Miner has reached out to Barrick for comment but had not received a response at press time.

Both juniors assert they would use their respective assessment credits to protect their assets in terms of Ontario legislation and that Barrick had no further recourse to the cancelled earn-in options.

“The corporation maintains that Barrick Gold has failed to meet contractual requirements under the earn-in option agreement, and moreover, Red Lake Gold maintains that no joint venture exists as between the parties,” said Kalt in the Red Lake press release, with the Dixie Gold statement asserting the same.

The companies said that among other defendants in the claim, Barrick named ‘ABC Corporation Inc.’ as a placeholder for a party that it alleges may have attempted, or may attempt in the future, to intervene or acquire the projects following the termination.

Kalt is also currently the chairman and CEO of Clean Commodities Corp. Previously, Kalt was the CEO of Gold Royalties Corporation, an investment issuer listed on the TSX Venture Exchange, which was acquired by Sandstorm Gold (TSX: SSL; NYSE: SAND) in 2015.

Red Lake Gold shares tumbled nearly 54% on July 5 to 3¢, taking the 12-month loss to 88%. At press time it had recovered to 6¢, with a market capitalization of $1.9 million.

Dixie Gold fell 45% to a fresh low at 5.6¢, down 77% over the 12-month frame. At press time it traded at 6¢ with a market cap of $1.6 million. TNM

Drilling at CanAlaska Uranium’s West McArthur project. CANALASKA URANIUM

CanAlaska stock surges on new uranium discovery at West McArthur | Exploration project is a 70/30 JV with uranium miner Cameco

SASKATCHEWAN

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BY JACKSON CHEN

anAlaska Uranium (TSXV: CVV; OTC: CVVUF) shares gained as much as 42.9% in trading on July 15 after the junior announced it had discovered a significant zone of basement-hosted uranium mineralization during its summer drilling program at the West McArthur project in Saskatchewan.

West McArthur is a joint venture project with Cameco (TSX: CCO; NYSE: CCJ) the world’s largest public uranium company.

CanAlaska currently owns about 70% of the JV and is the operator.

Drill hole WMA067, which was designed to test a strong conductor anomaly identified during the 2022 winter geophysical program at West McArthur, intersected a broad, 6.3-metre interval of elevated radioactivity. This includes several metre- to sub-metre-long intervals of moderate to strong radioactivity, one of which is 3.5 metres long, the company reported. The drill hole is located 6 km along strike to the southwest of the company’s 42 zone.

The high-grade 42 zone was discovered by Cameco in August 2017. Since taking over operatorship of the project in 2019, CanAlaska has been focused on expanding the footprint of the 42 zone mineralization, as well as evaluating the structures and alteration immediately along strike to the southwest.

“The CanAlaska team has delivered a new uranium intersection in a new area of the West McArthur project with its second drill

hole of the summer program,” said CanAlaska CEO Cory Belyk in a press release.

West McArthur is situated in the Athabasca Basin, between 6 to 30 km west of the world’s richest uranium mine: Cameco’s McArthur River. The recently disclosed Fox Lake deposit (68.1 million lb. at a grade of 7.99% U₃O₈ contained in 386,700 tonnes) was discovered by Cameco in 2013 and is part of its Read Lake JV with Areva (US-OTC: ARVCF).

“The West McArthur project, strategically located next to critical mine and mill infrastructure in the eastern Athabasca Basin, continues to respond positively to targets generated by the geological team providing additional opportunities for discovery,” Belyk said.

CanAlaska’s ongoing drilling program at West McArthur is part of the approved $5-million 2022 exploration program. Drilling is currently focused on continued expansion of the 42 zone mineralization, exploration within the 1.8 km-42 zone extension target area, and testing of new targets.

Elsewhere, at the company’s Manibridge project in the Thompson nickel belt of Manitoba, CanAlaska’s partner Metal Energy (TSXV: MERG) is completing a second-phase summer drill program. The drilling is focused within the shadow of the past-producing Manibridge mine.

Shares of CanAlaska surged to as high as 40¢ on the news, up 12¢.

At press time, the stock traded at 38¢ in a 52-week window of 27¢ and 84¢. CanAlaska has a market cap of $30 million. TNM

EV Nickel rises on high-grade drill results at Shaw Dome ONTARIO

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BY NAIMUL KARIM

hares of EV Nickel (TSXV: EVNI) jumped more than 50% in morning trading on July 11 as the company’s latest drill results from its Shaw Dome project in Timmins, Ont., intersected high-grade nickel sulphide.

Highlights from the drill results included 14.3 metres grading 1.5% nickel starting from 311.8 metres in drillhole EV22-12, including 5.4 metres grading 2.96% nickel; and 5.5 metres grading 1.33% nickel starting from 373.5 metres in drillhole EV22-13.

The assay results are from the first two holes completed as part of the company’s second phase drill program, which is targeting

| Junior looks to extend Langmuir W4 zone at past-producing project

the down plunge potential of the Langmuir W4 zone.

“The continuation of the highgrade mineralization over significant drill core widths… gives me confidence that we will be able to extend the W4 Zone along plunge,” Paul Davis, the company’s vice-president of exploration, said in a press release.

“The extension of the mineralization is consistent with Kambalda-style deposits… that can extend for considerable distances, like the other nickel deposits in the Shaw Dome including the Langmuir #2, Redstone and Hart Deposits,” he added.

Located about 25 km southeast of Timmins, Shaw Dome has a non-NI 43-101-compliant resource

estimate dating from 2010.

The historic resource stands at 677,000 indicated tonnes grading 1% nickel for about 15 million lb. of contained nickel. Inferred resources add 171,000 tonnes grading 0.91% nickel for 3.3 million lb. nickel.

The company believes the 300-sq.-km project contains highgrade mineralization and the potential to host large-scale deposits. Under previous owners, the project saw production from the Redstone, McWatters, Langmuir 1 and Langmuir 2 mines, the company’s CEO Sean Samson told The Northern Miner in June.

Last month, EV Nickel shares rose by more than 150% on June 9 following the release of drill results

from its Langmuir W4 zone.

Highlights included 48.6 metres grading 1.31% nickel starting from 37.3 metres in hole EVMET2201; and 33 metres grading 0.74% nickel starting from 78 metres in hole EVMET22-02.

The holes were designed to provide a representative sample for metallurgical analysis, EV Nickel said.

In the next few months, the company expects to report further results from its drilling at the W4 extension.

EV Nickel began trading on the TSX Venture Exchange in December after an initial public offering that raised $5.4 million.

The company is working on developing a conceptual pro-

cess for the recovery of nickel and copper through the process of bioleaching. The practice involves using indigenous bacteria to isolate and separate the metals from the Langmuir ore.

EV Nickel acquired the project from Rogue Resources (TSXV: RRS) in March 2021 and has since acquired additional land around it to expand Shaw Dome to 300 sq. kilometres.

Shares of EV Nickel traded at 14¢ as of press time, after trading as high as 22¢ on July 11.

Over the last year the junior explorer has traded in a range of 12.5¢ and 60¢. The company has 30.3 million common shares outstanding for a market cap of about $4.4 million. TNM

8

JULY 25 — AUGUST 7, 2022 / THE NORTHERN MINER

WWW.NORTHERNMINER.COM

Anglo American’s Quellaveco yields first copper concentrate PERU

| Mine will increase country’s copper output by 10%, says CEO tion by about 10% and create 2,500 direct jobs as well as other economic benefits related to procurement, and an increase in water for human consumption, said Adolfo Heeren, CEO of Anglo American in Peru.

BY CECILIA JAMASMIE

A

nglo American (LSE: AAL) said on July 12 it had begun producing copper concentrate at its US$5.5-billion Quellaveco mine in Peru.

The mining giant, which has a 60% stake in the mine, earlier this year forecast the copper project would produce between 100,000 and 150,000 tonnes in 2022, boosting the company’s overall copper production for the year to between 680,000 and 760,000 tonnes.

First ore at the Quellaveco mine, located in the Moquegua region of Peru, was mined in October 2021 and Anglo American expects the asset to generate 300,000 tonnes of copper per year for the first 10 years at full production.

The project is being delivered on time and budget despite two years of pandemic-triggered downtime, project leader Tom McCulley said.

“This first production of copper concentrate marks the beginning of the normal period of testing the processing plant with ore and the ramping up of mining activities to

The camp at Anglo American’s Quellaveco project in Peru. ANGLO AMERICAN

demonstrate readiness for operations,” McCulley said in a statement.

Mitsubishi Corp., which owns 40% of Quellaveco, said the mine will increase the company’s annual

IsoEnergy reports 44M lb. U3O8 initial resource for Hurricane deposit URANIUM

I

copper production by about 50%, reaching between 320,000 and 370,000 tonnes a year, from the current 200,000 tonnes.

Once at full tilt, the operation will increase Peru’s copper produc-

Scrawny pipeline Quellaveco is one of the very few sizable copper projects to come online in the last three years, including First Quantum Minerals’ (TSX: FM) Cobre Panama in 2019 and Ivanhoe Mines’ (TSX: IVN; US-OTC: IVPAF) KamoaKalula in the Democratic Republic of the Congo (DRC) last year.

The copper industry needs to spend upwards of US$100 billion to close what could be an annual supply deficit of 4.7 million metric tonnes by 2030, according to estimates from the CRU Group.

The potential shortfall could reach 10 million tonnes if no mines get built, commodities trader Trafigura has said.

While the world needs more of the metal, which is used in electric vehicles, solar panels and other

products considered a key part of the energy transition, producers are wary of repeating oversupply mistakes of past cycles by speeding up plans at a time when mines are getting a lot trickier and pricier to build.

First production at Quellaveco comes at a time of weak copper prices. The metal hit a 20-month low on July 11 as persistent worries that a recession would dampen metals demand hit a market with thin summer volumes.

Commenting on the news, Alexander Pearce, a London-based analyst at BMO Capital Markets, said first production at Quellaveco “represents a key milestone for the company, with the project underpinning [more than] 50% of copper growth for the group by 2024.

“Whilst some risks remain until the project fully ramps up (note Anglo American has an ambitious ramp-up target of 100-150kt copper this year) the company has delivered the project to schedule thus far. Further, with 22/23 EV/ EBITDA of 3.2/3.4 x Anglo continues to screen well versus peers.” TNM

BHP loses appeal to multibillion lawsuit over Samarco tailings disaster LAW

| Court rules legal action can proceed against miner in UK

| High-grade, shallow deposit discovered in 2018

BY JACKSON CHEN

soEnergy (TSXV: ISO; OTC: ISENF) has posted an initial resource estimate for the Hurricane uranium deposit, part of its 100% owned Larocque East project in the eastern Athabasca Basin of Saskatchewan.

Indicated resources totalled 48.61 million lb. of uranium oxide (U3O8) based on 63,800 tonnes grading 34.5% U3O8, including 43,9 million lb. of U3O8 at an average grade of 52.1% U3O8 within the high-grade domain. Inferred resources were 2.66 million lb. of U3O8 based on 54,300 tonnes grading 2.2% U3O8.

The Hurricane deposit was discovered in 2018 by IsoEnergy’s first ever drill hole at Larocque East, which intersected a broad, 8.5-metre-long interval averaging 1.26% U3O8. Since then, the company has completed six drill programs within the Hurricane zone, which now measures 375 metres along strike, 125 metres across, and up to 12 metres thick.

The high-grade domain occupies an area 125 metres long and is up to 63 metres wide and up to 4.5 metres thick.

In February, the company reported the final assay results from its summer 2021 drilling at the Hurricane zone, highlighted by a high-grade intercept of 6.5 metres averaging 20.4% U3O8, including 3.5 metres averaging 34.5% U3O8.

“Hurricane’s exceptionally high uranium grade and relatively shal-

low depth, together with its proximity to existing eastern Athabasca Basin road, power and milling infrastructure are key attributes,” Tim Gabruch, president and CEO of IsoEnergy, said.

“This mineral resource estimate establishes Hurricane as the world’s newest, very high-grade uranium deposit. On average, one cubic metre of Hurricane’s highgrade domain weighs over 4.5 tonnes and contains over 5,200 lb. of U3O8,” Andy Carmichael, VP exploration, added.

“Of the past and presently producing uranium mines in the Athabasca Basin, Hurricane is most analogous to the Cigar Lake deposit at the nearby operating mine with respect to the mineralization’s grade, thickness, width, style, and the alteration halo and ground conditions which mantle the deposit. Notably, Hurricane’s mineral resource estimate employs a cut-off grade consistent with uranium mineral resource estimates reported from Cigar Lake and other operations in the eastern Athabasca Basin.”

The resource estimate was conducted by SLR Consulting, using assays from 52 diamond drill holes totaling 20,387 metres and 785 samples.

IsoEnergy’s shares rose on the July 18 news to as high as $3.54 per share, up 16.8%, the following day. The stock has a 52-week trading range of $1.96-$6.61 and the company has a market capitalization of $367.4 million. TNM

www.northernminer.com

A tailings dam failure at BHP and Vale’s Samarco operation killed 19 people in Brazil in 2015. SENADO FEDERAL/WIKIMEDIA COMMONS 2.0

B

BY CECILIA JAMASMIE

HP (ASX: BHP) said on July 8 it had lost an appeal in a London court seeking to block an over £5 billion (around US$6 billion) lawsuit by 200,000 Brazilians over a deadly dam failure in Brazil seven years ago.

The group claim, one of the largest in British legal history, alleged that BHP, the world’s largest miner by market value, ignored safety warnings as the dam’s capacity was repeatedly increased by raising its height — and disregarded cracks that pointed to early signs of rupture.

BHP tried stopping the suit from proceeding in London, but the verdict overturned previous judgments, by ruling the case can be heard in English courts.

“The days of huge corporations doing what they want in countries

on the other side of the world and getting away with it are over,” said Tom Goodhead, managing partner of law firm PGMBM, which represents Brazilian individuals, businesses, churches, municipalities and Indigenous people.

In total, 3,400 Indigenous people were affected by the disaster.

Samarco’s Fundão dam burst in November 2015 and released 39.2 million cubic meters of tailings waste into the Rio Doce Basin, killing 19 people. It was Brazil’s worst environmental disaster.

Samarco, a joint venture between BHP and Vale (NYSE: VALE), was shuttered for five years. During that time, BHP and Vale focused on reparations, compensation, and clean-up efforts.

They also faced several lawsuits and site inspections until the miner was ready to safely reopen the Mariana Complex in Decem-

ber 2020.

Lawsuits continued to pile up, including the group action, which was initially blocked by both the High Court and the Court of Appeal for being “irredeemably unmanageable.”

BHP said it remains “concerned” with the preliminary question of whether the group action can continue against the company in the United Kingdom.

“BHP Brasil remains committed to continue supporting the local remediation efforts in Brazil through the Renova Foundation,” it said. “Those efforts have already provided BRL9.8 billion (around US$1.8 billion) in compensation and direct financial aid in relation to the dam failure to over 376,000 people.”

The mining giant also said it would consider a Supreme Court appeal. TNM

SPECIAL FOCUS

TECH METALS KRPHOTO /ADOBE IMAGES

Northern Graphite completes PEA on Namibian operation; forecasts restart by mid-2023

Vital Metals upbeat on test results of first rare earths processing CRITICAL MINERALS

A

| First concentrate shipment slated for fall 2022

BY BLAIR MCBRIDE

ustralia’s Vital Metals (ASX: VML) has in less than three months progressed from shipping out its first load of mixed rare earth carbonate to receiving positive results on the first processing pass at its new facility in Saskatoon, Sask.

Vital is the first rare earth producer in Canada and the second in North America, after MP Materials’ (NYSE: MP) Mountain Pass mine in California.

The dense media separation (DMS) unit at the plant processed about 2,300 kg of concentrate mined at Vital’s Nechalacho rare earth project in the Northwest Territories, achieving a result of 75.2% recovery, the company said in a news release on July 8. “[That] very closely matches the expectations that were predicted during the design,” David Connelly, vice-president of strategy and corporate affairs with Vital’s Yellowknife-based subsidiary Cheetah Resources, told The Northern Miner. “It’s a good indication that the equipment is doing what it was predicted to do.”

In mid-April, the company transported its first load of 500 tonnes of rare earths from Hay River, N.W.T to the new, 40,000-sq.-ft facility in Saskatoon. That haul was part of the more than 5,000 tonnes mined last year at the North T zone of Nechalacho — about 100 km southeast of Yellowknife — and transported by barge across Great Slave Lake to Hay River.

While Connelly declined to answer questions about Nechalacho’s permit status, Cheetah has its land use permits and water licence for the project, according to the Mackenzie Valley Land and Water Board (MVLWB), the regulatory authority of the N.W.T. The MVLWB classifies Nechalacho as a demonstration project.

Vital acquired the near-surface resources at Nechalacho from Avalon Advanced Materials (TSX: AVL; US-OTC: AVLNF) in 2019. Avalon retains ownership of resources beneath 150 metres depth.

Once in Saskatoon, the concentrate was crushed at the Saskatchewan Research Council’s Rare Earth Processing Facility and before being treated at Vital’s adjacent plant.

Pilot testing of the concentrate was done by the SGS laboratory in Saskatchewan, whose metallurgical tests returned a grade of 44.6% total rare earth oxide (TREO). Vital’s own DMS testing showed a grade of 43.7% TREO. Vincent Laniece, general manager of operations at the Vital facility said that greater concentration should be expected after concentrate rejected from the DMS is recycled through it a couple more times.

“We’re already obtaining the same results as the lab test and we didn’t do any optimization yet.

We have room to do better. Right

| Study estimates mine life of 10 years, capex of US$15.1M

BATTERY MINERALS

J

David Connelly (Cheetah Resources); Ernest Betsina (former Ndilo chief of the Yellowknives Dene First Nation); and Ray Anguelov (Cheetah Resources) open the ice road to Vital Metals’ Nechalacho operation. BILL BRADEN/CHEETAH RESOURCES

now we’re recovering 75%. There is room to get to 85% or 90%,” he said.

The plant has yet to ramp up to the full capacity of the first phase of production. The DMS unit, which Connelly calls “the Cadillac piece” for its separation capabilities is just the first of a six-circuit processing chain. The additional circuits will be installed and commissioned as they arrive at the facility.

Following the DMS circuit, Laniece explained, the next circuit will be the kiln in which product from the DMS is baked to a temperature that allows for solubility of elements in the subsequent leaching circuit. Two purification circuits follow, before the final circuit of precipitation of the cerium-reduced mixed rare earth carbonate.

The six circuits are expected to be commissioned by September or October, Laniece said.

The first export of a 2.5-tonne carbonate sample to REEtec, a rare earths producer in Norway is anticipated to happen in the fall, Connelly said. He could not comment on how much REEtec would pay for the sample, citing confidentiality.

Under a joint agreement, Vital will annually sell to REEtec carbonate consisting of at least 750 tonnes of neodymium and praseodymium contained within 2,000 tonnes of rare earth oxides that have a maximum of 25% cerium.

Vital is aiming in its first phase to produce 1,000 tonnes of cerium-reduced carbonate from about 5,000 tonnes of ore per year. By the end of 2023 or 2024 it hopes to double output capacity to 2,000 tonnes per year, Connelly said.

In terms of workforce, the company is currently employing contractors and three employees at the plant, with offers out for seven more. It is working towards 40 new employees for the first phase.

The currently producing North T zone at Nechalacho hosts measured and indicated resources of 101,000 tonnes grading 9.01% light

rare earth oxides (2.2% neodymium-praseodymium). It will support more than four years of mining.

The larger Tardiff zone that has yet to be developed is expected to support more than 50 years of mining.

It contains measured resources of 286,563 tonnes grading 2.7% TREO and indicated resources of 1.6 million tonnes of 2.4% TREO. Inferred resources add 1.3 million tonnes at 2.2% TREO. The estimates used a cutoff grade of 0.3% ND₂O₃.

Global prices for rare earth elements surged in late 2021 to their highest levels seen in five years before peaking in February, dipping and then falling more sharply at the start of July. Neodymium and praseodymium oxide currently sit at US$133,968 per metric tonne, according to data from the Shanghai Metals Market. TNM

BY NORTHERN MINER STAFF

ust two months after closing its acquisition of the Okanjande graphite deposit and Okorusu processing plant in Namibia, Northern Graphite (TSXV: NGC; US-OTC: NGPHF) has completed a preliminary economic assessment on a restart of the operation, which was put on care and maintenance in November 2018.

Northern Graphite says the project could be brought back into first production within nine to 12 months, and the PEA outlined a mine life of 10 years producing an average of nearly 31,000 tonnes of graphite concentrate a year at a direct production cost of US$775 per tonne.

Initial capex of US$15.1 million, which would include the installation of a two-stage grinding circuit, additional regrind equipment in the flotation plant and a new tailings storage facility, could be repaid in two years, according to the early stage study.

The PEA outlined an after-tax net present value of US$65 million and internal rate of return of 62%, at a weighted average graphite price of US$1,500 per tonne.

The graphite price was based on a concentrate containing 11% +50 mesh XL flake, 48% +80 mesh large flake, 24% +100 mesh medium flake and 16% +150 mesh small flake, and an average carbon content of 96%.

Mineralized material from the Okanjande deposit will be trucked 70 km to the Okorusu plant. The project benefits from access to grid power and is situ-

ated 388 km from the deep-water port of Walvis Bay, from where cargo ships can access European and North American markets.

Refurbishment of the plant is already underway and long delivery items ordered, the company says. Modifications to the Okorusu plant are designed to increase throughput and recovery and improve the flake size distribution.

The processing plant is located at the idle Okorusu Fluorspar mine, which under previous owners Imerys and a joint-venture partner, had been retrofitted to process graphite-bearing material.

According to Northern Graphite, mining operations began at Okanjande in 2017 and the material was trucked to Okorusu, but the processing plant did not perform to expectations and was put on care and maintenance late the following year.

The company announced in December 2021 that it was acquiring the Namibian operations along with the producing Lac des Iles graphite mine in Quebec from Imerys and affiliates for about US$40 million.

The acquisition closed in May, and was financed through US$36 million in debt, royalty and stream financing provided by funds managed by Sprott Resource Streaming and Royalty Corp. and a $23-million equity offering lead by Sprott Capital Partners LP. Sprott invested $3.8 million in the equity offering and Imerys received US$4 million in See NORTHERN GRAPHITE / 15

NATURAL RESOURCES Trusted.

Independent.

Committed.

Delivering fit-for-purpose solutions across the entire mining life cycle Our fit-for-purpose solutions encompass the skills of qualified geologists, geostaticians, analytical chemists, mineralogists, metallurgists, process engineers and mining engineers brought together to provide accurate and timely mineral and process evaluation services across the entire mining life cycle.

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

WWW.SGS.COM/NATURALRESOURCES NAM.NATURALRESOURCES@SGS.COM

10

JULY 25 — AUGUST 7, 2022 / THE NORTHERN MINER

SPECIAL FOCUS TECH METALS

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Sigma Lithium mine to benefit from new rules in Brazil BATTERY METALS

S

| Government decree simplifying trade and export of lithium expected to boost investment the production capacity in phase 2 by increasing the area where the dry stacking of the tailings of the production plant is allowed.

“The expansion also makes the municipality of Araçuaí (where the south pit is located) eligible to receive royalties from Sigma Lithium’s production, sharing them with Itinga where the north pit and the production plant are located,” the company said.

BY CECILIA JAMASMIE

igma Lithium (TSXV: SGML; NASDAQ: SGML) says its 25%-ready Grota do Cirilo lithium project in Brazil will benefit from a presidential decree issued in early July allowing unrestricted trade of any products containing the battery metal.

The Brazilian government has simplified foreign trade procedures on the export of lithium and its derivatives by eliminating the requirement to solicit quotas and export authorizations from the nuclear authority.

The measure is expected to boost lithium investments, with the Vale do Jequitinhonha region in Minas Gerais state, which hosts most of Brazil’s lithium reserves, forecast to attract 15 billion reais (about US$2.8 billion) through 2030.

Sigma Lithium’s US$5.1-billion Grota do Cirilo, the largest hard rock lithium deposit in the Americas, is expected to produce 531,000 tonnes of lithium per year from two deposits, it said.

The Vancouver-based company, which has a market value of $1.9 billion, is building the proj-

A computer rendition of Sigma Lithium’s Grota do Cirilo lithium project in Brazil. Sigma Lithium

ect in phases, with the initial mine on track to be commissioned in December this year.

“The continuous advance of final construction drawings towards 65% completion also allows us to plan for the total amount of bulk construction material to be utilized, potentially extending our

management of our supply chains,” said Calvyn Gardner, co-CEO and co-chairperson of Sigma Lithium.

An April feasibility study anticipated an eight-year operating life for the first phase, which it valued at US$1.6 billion. Overall, the project has potential to deliver battery-grade lithium for 13 years

once it’s built.

Sigma noted that it has obtained a requested extension of its current environmental licences to allow for the simultaneous mining of the north pit and the south pit in phase 1.

It said the permit allows it to plan a “significant” expansion of

Atlantic supplier Grota do Cirilo will be powered by a hydroelectric project located 50 km away from the site and will serve what Sigma dubs the emerging Atlantic supply chain for batteries and electric vehicles manufactured in North America and Europe.

Sigma expects a bifurcation in the market as growth outside of China accelerates with environmental factors including water, energy use and tailings becoming increasingly important to how producers are assessed.

The company’s co-CEO, Ana Cabral-Gardner, believes that Brazil has the potential to become a “green lithium powerhouse.” TNM

Mkango feasibility for Songwe Hill REE project pegs capex at US$277M, post-tax NPV at US$559M RARE EARTHS

A

BY JACKSON CHEN

frica-focused rare earths explorer Mkango Resources (TSXV: MKA) has reached a major milestone with the release of a definitive feasibility study for its Songwe Hill project in Malawi. Located 90 km from

| Mine in Malawi part of junior’s ‘mine, refine and recycle’ strategy

the commercial centre of Blantyre, the Songwe project is the cornerstone of Mkango’s mine, refine and recycle strategy, underpinning the development of a proposed separation plant in Poland and complementing its interests in rare earth magnet recycling in the U.K. and Germany.

Above: Mkango Resources’ Songwe Hill REE project in Malawi. Mkango Resources

45 offices worldwide and a global network of affiliates.

No matter where you are in the world, chances are we’ve got your project covered.

.com

Earlier this year, Mkango announced that it has produced neodymium and praseodymium enriched rare earth carbonate on a pilot basis from raw materials taken from the Songwe Hill property, where it has been exploring since 2010 and now taken to the feasibility stage.

The feasibility study, released in early July, is based on a conventional open pit mining operation with feeding mills, flotation and hydrometallurgy plants on site to produce a mixed rare earth carbonate (MREC). As outlined in the study, the Songwe project has an operating life (mining and processing) of 18 years, with mining assumed to start in February 2025.

Processing expected to ramp up from July 2025, reaching full production from September 2025.

Once in full production, it is expected to produce an average of 5,954 tonnes of total rare earth oxides (TREO) per year over the first five years. These include 1,953 tonnes per year of neodymium and praseodymium oxides, and 56 tonnes per year of dysprosium and terbium oxides, in a mixed rare earth carbonate grading 55% TREO, generating nominal EBITDA of US$215 million per year.

The study indicates a post-tax net present value of US$559 million, using a 10% nominal discount rate, with an internal rate of return of 31.5%. Initial capital expendi-

Workers build a water pump at Mkango Resources’ Songwe Hill REE project in Malawi. Mkango Resources

ture for the project is estimated to be US$277 million (excluding a US$34 million contingency) for development of mine, mill, flotation and hydrometallurgy plants, tailings storage facility, and related project infrastructure.

The NPV calculation excludes any value attributable to the proposed Pulawy rare earth separation project in Poland, which is expected to process MREC from Songwe, enabling Mkango to capture additional value via its integrated downstream business. The NPV also excludes any value attributable to the company’s interests in rare earth magnet recycling.

With the release of the study, Songwe is now confirmed as one of the very few rare earths projects globally to have reached the feasibility stage, with a full environmental, social, health impact assessment (ESHIA) completed in compliance with international

standards.

William Dawes, chief executive of Mkango, commented: “The [feasibility study] is a major step forward for the company, uniquely positioning Mkango as a future supplier of both mined and recycled rare earths for the green transition, against a backdrop of a very strong demand and pricing outlook.”

The company will now look to finalize its mining development agreement with the government of Malawi. After that, and following completion of a feasibility study on the Pulawy facility, Mkango plans to release a feasibility study for an integrated project comprising both the rare earth mining and separation projects.

At press time, Mkango Resources shares traded at 29¢ apiece in a 52-week range of 27¢70¢. The company has a market cap of $62.2 million. TNM

GLOBAL MINING NEWS

SPECIAL FOCUS TECH METALS

THE NORTHERN MINER / JULY 25 — AUGUST 7, 2022

11

JOINT VENTURE ARTICLE

A drill rig at ACME Lithium’s Clayton Valley lithium brine project in Nevada. ACME LITHIUM

ACME Lithium positioned as a potential new source of domestic lithium supply for North American EV markets

BY NORTHERN MINER STAFF

These are exciting times for ACME Lithium (TSXV: ACME; US-OTC: ACLHF), says Steve Hanson, its founder, president, and CEO, as the company hits a key milestone in the development of its flagship Clayton Valley lithium brine project in Nevada.

In June, the Canadian junior completed its first exploration drill hole on the property. Drilled to a depth of 427 metres, hole DH-1 “encountered several prospective zones that we were targeting based on permeability and lithology and which show excellent potential for a lithium-bearing aquifer,” he says.

The drilling, he added, follows positive results from a hybrid source audio-magnetotelluric (HSAMT) geophysical survey completed last November “that identified multiple target areas that we interpreted as potentially containing lithium brine hosted by saline rich aquifers, ash layers, sands, and gravels on the property.”

Hanson noted that drill results from DH-1 are expected in August and, if positive, will support further testing of the well, which is expected to start in the third quarter of 2022.

The approximately 10-sq.-km Clayton Valley project is located in Esmeralda County, about 306 km southeast of Las Vegas, and encompasses 122 claims comprising the CC, CCP, JR, and SX placer lithium claims.

The project is contiguous to the northwest of Albermarle’s (NYSE: ALB) Silver Peak lithium mine.

The mine has been in continuous operation for over 50 years and is the U.S.’s only domestic supply of lithium.

“Lithium is essential for the global

A pegamtite outcrop at ACME Lithium’s Shatford Lake project in southeastern Manitoba. ACME LITHIUM

transition to a green energy future and is needed to produce the lithiumion batteries used in the electric vehicles (EVs) and energy storage technologies underpinning this transition,” explains Hanson.

The U.S. is positioning itself as a leader in the transition to a cleaner energy future, with the Biden administration setting a target of 50% EV sales share in 2030 and the construction of a nationwide network of 500,000 EV charging stations as

part of the Bipartisan Infrastructure Law, signed into law last November.

Although the U.S. is estimated to hold almost 8 million tonnes in lithium reserves, ranking it among the top five countries globally, it currently produces less than 2% of global lithium supply, according to the United States Geological Survey.

“With most of the world’s lithium presently supplied from Argentina, Australia, Chile, and China, the U.S. and Canada will need to develop a

reliable and sustainable domestic supply of lithium to achieve its goals while also reducing its reliance on foreign supply,” Hanson says.

He notes that Clayton Valley “is at the epicentre of lithium exploration and development in the U.S.,” and that ACME Lithium “is one of the only Nevada-focused companies drilling a lithium brine target.”

This year, the company also has plans to explore its 100%-owned Fish Lake Valley lithium project, about 274 km southeast of Las Vegas and 40 km from its Clayton Valley project.

The property comprises 144 lode mining claims covering approximately 11.8 sq. kilometres.

Hanson says that exploration work on the property “will test the potential of the lithium-bearing claystone and to identify new targets for further exploration, which includes mapping, sampling, and additional geophysics.”

He added that Clayton Valley and Fish Lake Valley also benefit significantly from their location.

(Nevada is currently ranked as the second most attractive jurisdiction globally for mining investment by the Fraser Institute.)

“Not only do our Nevada properties benefit from existing infrastructure, including rail, year-round access via roads, power and water, and a skilled workforce close at hand, but they are also situated less than a three and a half hour drive from Tesla’s Gigafactory,” he says.

ACME Lithium is also advancing its lithium projects at Shatford Lake and Cat-Euclid Lake in southeastern Manitoba. The properties cover 27 mineral claims totalling 47.8 sq. km on the pegmatite fields within the southern limb of the Bird River greenstone belt.

The region hosts significant lithium-caesium-tantalum containing pegmatites, which account for a quarter of the world’s lithium production, and is fast becoming a global area of focus for lithium exploration and development, Hanson says.

“Our Manitoba properties neighbour the Tanco mine, owned

by Chinese miner Sinomine Resources, where the pegmatite ore body has been mined since 1929.

And last year, Australia’s Mineral Resources Ltd., a world-leading lithium producer with a market capitalization of around A$9 billion [C$8 billion], invested in lithium assets west of Cat-Euclid Lake.”

In early July, ACME Lithium commenced an extensive summer exploration program of its Shatford Lake and Cat-Euclid Lake properties.

The work includes remote sensing, ground-based geological mapping, and soil, rock, and till sampling, which aims to identify potential targets for drill testing spodumene-bearing pegmatites that may host lithium carbonate deposits.

Hanson noted that the company is well-capitalized, with around $11.4 million in the treasury, which he says will be more than sufficient to fund its proposed exploration programs.

“Our world-class portfolio of assets in top-tier mining jurisdictions potentially positions us as a new source of domestic lithium supply for North American EV markets,” he says.

The preceding Joint Venture Article is PROMOTED CONTENT sponsored

by ACME LITHIUM and produced in cooperation with The Northern Miner.

Visit www.acmelithium.com for more information.

12

JULY 25 — AUGUST 7, 2022 / THE NORTHERN MINER

SPECIAL FOCUS TECH METALS

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TECHNOLOGY METALS SNAPSHOT: EIGHT COMPANIES DEVELOPING NEXT GENERATION METALS

BY CARL A. WILLIAMS

As economies around the world continue to decarbonize, the increasing demand for electric vehicles and green energy storage technologies is driving a boom in the exploration and development of technology-metals deposits, in particular lithium, cobalt, nickel, and rare earths. Here are eight mining companies supporting this global transition to a clean energy future.

CANADA SILVER COBALT WORKS Canada Silver Cobalt Works (TSXV: CCW; US-OTC; CCWOF) is a precious and battery metals

n

Nevada Sunrise Gold’s wholly-owned Gemini lithium project east of the town of Lida, Nev. NEVADA SUNRISE GOLD

exploration company with a portfolio of assets that include silver, copper, nickel, and gold discoveries in Ontario and Quebec.

The B.C.-headquartered junior has 14 battery metals properties in northern Quebec. It recently completed a nearly 10,000-metre winter drill program on its 100%-owned Graal-Nourricier-Lac Suzanne (Graal) nickel-copper-cobalt discovery in the Lac St-Jean region of northern Quebec, roughly 160 km

north of the city of Saguenay.

Highlights from the drilling included drillhole NRC-22-26, which intersected 5.8 metres grading 0.57% nickel, 0.41% copper, and 0.08% cobalt (0.89% nickel-equivalent) starting from 135 metres downhole, including 0.7 metre at 1.02% nickel, 0.43% copper, and 0.11% cobalt (1.45% nickel-equivalent). That hole is located approximately 5 km southeast from an area of massive sulphide

TSX-V: CRE Frankfurt: F12 OTCQX: CRECF Graphite One’s Graphite Creek project on Alaska’s Seward Peninsula. GRAPHITE ONE Lithium

A High Purity

LITHIUM SPODUMENE Project

Government & First Nations Support Rose, the Company’s flagship feasibility-stage lithium spodumene project, is located in Québec • a toptier, strategically located, and supportive mining jurisdiction • Federal approval received August 10, 2021 Management Team with Relevant Experience Developers/operators experienced in de-risking large-scale projects Availability for Strategic Partners End users in the EV sector are actively seeking sustainable lithium hydroxide supply; Quebec’s grid is low carbon, 93% hydroelectric

mineralization discovered in 2021.

Canada Silver says it has now received all assays from the drilling and “will allow us to move forward with the technical report for this property,” said Matt Halliday, the company’s president and COO, in a June 27 press release. Halliday added that the company will continue exploration at Graal to determine the extent of the deposit with ongoing drilling testing high-priority anomalies discovered by recent geophysical surveys.

The company is also conducting an airborne VTEM (versatile time-domain electromagnetic) survey on its Lowney-Lac Edouard property located south of the historical Lac Edouard nickel-copper-cobalt mine in central Quebec.

It said that the survey is intended to identify near surface conductors that will guide field work this summer and provide a better understanding of the area.

Canada Silver also recently discovered a high-grade silver vein system at its Castle East grassroots silver discovery, approximately 1.5 km from its 100%-owned past-producing silver-cobalt Castle Mine project in northern Ontario. The company has completed 60,000 metres of drilling at Castle East aimed at expanding the size of the deposit with an update to the resource estimate underway.

Canada Silver Cobalt Works has a market cap of $21.6 million.

CRITICAL ELEMENTS LITHIUM Critical Elements Lithium (TSXV: CRE; US-OTC: CRECF) holds a land package covering over 700 sq. km that hosts several properties in Quebec.

Headquartered in Montreal, the junior explorer is focused on advancing its 100%-owned Rose lithium-tantalum project in the

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Rerating Opportunity with Project Advancement Mine and spodumene concentrate plant with a robust after-tax NPV8% of $1.9B, IRR of 82.4% and payback period of 1.4 years Tel: 514 817-1119 | www.cecorp.ca

TSX-V: CRE Frankfurt: F12 OTCQX: CRECF

James Bay region of the province, approximately 40 km north of the Cree village of Nemaska.

The 246.5-sq.-km property is located 80 km south of Newmont’s (TSX: NGT; NYSE: NEM) Éléonore gold mine and 45 km northwest of Nemaska Lithium’s Whabouchi lithium project, and 20 km south of Hydro Quebec’s Eastmain 1 hydroelectricity generating plant.

In June, Critical Elements released an updated feasibility study for Rose. The study envisions a 17-year mining operation that will mine a total of 26.3 million tonnes of ore grading 0.87% lithium oxide (Li₂O) and 138 parts per million (ppm) tantalum pentoxide (Ta₂O₅).

The proposed mill on the property will process 1.6 million tonnes of ore annually to produce an average of 224,686 tonnes of technical and chemical grade spodumene concentrates and 441 tonnes of tantalite concentrate per year from an open pit mine and using conventional lithium processing technologies.

The study estimated the aftertax net present value at US$1.9 billion (using an 8% discount rate) with an internal rate of return of 82.4%. The initial capital cost is estimated at US$357 million. Variable costs include average operating costs of US$74.48 per tonne milled and US$540 per tonne concentrate (all concentrate production combined).

To reflect current market conditions, Critical Elements said the feasibility study used conservative spodumene concentrate prices, as well as capital and operating cost estimates (US$4,039 per tonne technical grade lithium concentrate, US$1,852 per tonne chemiSee SNAPSHOT / 13

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 25 — AUGUST 7, 2022

SPECIAL FOCUS TECH METALS

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The Jackpot Lake lithium brine property is located within Clark County, 35 km northeast of Las Vegas. USHA RESOURCES

Visible silver in drill core from the Castle East project in Ontario. CANADA SILVER COBALT WORKS

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cal grade lithium concentrate, and US$130 per kg Ta₂O₅).

In May, Critical Elements announced that it had successfully converted spodumene concentrate from Rose into battery grade lithium hydroxide using a thermal leaching process in a pilot program.

Critical Elements Lithium has a market cap of $274.4 million.

GRAPHITE ONE 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 Vancouver-headquartered junior says the property hosts the highest grade and largest known large flake graphite deposit in the U.S. Graphite flakes from the project will be used to produce highgrade coated spherical graphite (CSG) for the anodes of lithium-ion batteries, it said.

In June, Graphite One released drill results from its 2021 exploration program at Graphite Creek. The work comprised a total of 2,150 metres conducted between July and October of that year and included eight core drill holes drilled in areas of inferred resources to upgrade to measured and indicated categories, and nine geotechnical holes.

Highlights included hole 21GC060, which intersected 16 metres grading 6.9% graphite starting from 54.2 metres downhole, 18.8 metres of 5.04% graphite from 76.5 metres, and 28.5 metres of 5.13% graphite from 110.5 metres.

The company said the drill results continue to show consistent, near surface high-grade intercepts with numerous holes returning grades greater than 10% and up to 35.78% graphitic carbon and will be included in an upcoming prefeasibility study for the project.

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The deposit remains open downdip and along strike to the east and west, demonstrating potential for Graphite Creek to become a generational domestic graphite asset, it said.

In April, Graphite One signed a memorandum of understanding (MOU) with Sunrise (Guizhou) New Energy Material Co. Ltd., a Chinese lithium-ion battery anode producer. The MOU is intended to develop an agreement to share expertise and technology for the design, construction, and operation of Graphite One’s proposed U.S.-based graphite material manufacturing facility. The facility will be based in Washington state and Graphite One is in discussions with state authorities to determine the facility’s location.

That same month, the company also entered into an MOU with battery materials recycler Lab 4 Inc. of Nova Scotia. Under the agreement, Graphite One and Lab 4 will work together to design, develop, and build a recycling facility for end-oflife electric vehicle and lithium-ion batteries.

Graphite One has a market cap of $113.5 million.

MASON GRAPHITE Mason Graphite (TSXV: LLG; US-OTC: MGPHF) is a Canadian mining and mineral processing company focused on developing its 100%-owned Lac Guéret graphite project in northeastern Quebec, approximately 285 km north of Baie-Comeau and 660 km north of Montreal.

In May, the Montreal-headquartered junior entered into an option and joint venture agreement with Nouveau Monde Graphite (TSXV: NOU; NYSE: NMG) to advance Lac Guéret.

Under the deal, Nouveau Monde will have the option to own 51% of the property if it invests $5 million in Mason Graphite and spends $10 million on advancing the property. It would also be required to co-fund a preliminary economic

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assessment and a bankable feasibility study based on a production scale of at least 250,000 tonnes per year of graphite concentrate.

Assuming the exercise of the option and formation of the joint venture, Nouveau Monde would earn a 51% interest in the joint venture and be appointed operator, with Mason Graphite retaining 49%.

In addition, Nouveau Monde has signed a non-binding agreement with Mason’s subsidiary, Black Swan, to use the latter’s graphene processing technology in its phase 1 natural graphite flake concentrator in Saint-Michel-desSaints, Que., and establish a fully

integrated facility for graphite ore and graphene-finished products.

The 40-sq.-km Lac Guéret property contains 65.5 million measured and indicated tonnes grading 17.2% graphite for 11.2 million tonnes of graphitic carbon and inferred resources of 17.6 million tonnes grading 17.3% graphite for 3.4 million tonnes of graphitic carbon.

An updated feasibility study for the project in December 2018 outlined a 25-year mining operation with an annual average graphite production of 51,900 tonnes over the mine’s life. The study pegged the capital investment at $258.2 million and the construction

period at about 13 to 16 months.

The project is expected to generate an after-tax net present value of $278 million, using an 8% discount rate and a graphite concentrate price of US$1,465 per tonne, and an internal rate of return of 21.7%.

Mason Graphite has a market cap of $39.5 million.

NEVADA SUNRISE GOLD Operating out of Vancouver, Nevada Sunrise Gold (TSXV: NEV; US-OTC: NVSGF) is a gold, lithium, copper, and cobalt exploration company with a portfolio of exploration projects, two lithium

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See SNAPSHOT / 14

DEVELOPING A PIPELINE OF CRITICAL MINERAL PROPERTIES IN QUEBEC FOR A NORTH AMERICAN CLIMATE SUCCESS STORY

95% of the EV battery anode is made of graphite Graphite is the heaviest component of the EV battery making it costly and unsustainable to import into North America Lomiko is developing a strategic stockpile of choice of this critical mineral in Quebec and advancing studies to Pre Feasibility Stage Infill and extension drill program underway at flagship project La Loutre Graphite Market Balance - Projected Demand and Supply (Mt)

DEMAND IS EXPECTED TO EXCEED SUPPLY BY 2023 – AND CONTINUE BEYOND

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

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Get to know us at lomikometals.com (TSX-V: LMR, OTC: LMRMF, FSE: DH8C)

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JULY 25 — AUGUST 7, 2022 / THE NORTHERN MINER

SPECIAL FOCUS TECH METALS

Workers prepare a drill platform at Patriot Battery Metals’ Corvette lithium site in Quebec. PATRIOT BATTERY METALS

WWW.NORTHERNMINER.COM

Noram Lithium’s Clayton Valley project in Nevada. NORAM LITHIUM

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projects, one gold project, one copper project, and one cobalt exploration project in Nevada.

The junior miner owns 100% of the Gemini lithium, Jackson Wash lithium, and Coronado VMS projects; a 20% interest in the Kinsley Mountain gold project; and a 15% interest in the Lovelock Mine and Treasure Box cobalt and copper projects.

Nevada Sunrise’s focus is on advancing the 23.1-sq.-km Gemini property in the Lida Valley basin in Esmeralda County, approximately 10 km east of the town of Lida.

In June, the company announced preliminary results from a 13-line-km time-domain electromagnetic survey conducted on the property. Initial results from the survey, it said, have provided confidence for future drill targets within the conductive zones that have been interpreted as clay layers with potential for hosting lithium-bearing brines.

Nevada Sunrise says conductivity measured to the north and west of the two existing drill holes demonstrates continuity of the zones where lithium-bearing clays and water were encountered in two boreholes, GEM22-01 and GEM22-02.

Hole GEM22-01 intersected 176.8 metres grading 1,203.4 parts per million (ppm) lithium from 97.6 metres downhole, including 91.5 metres of 1,578.2 ppm lithium.

GEM22-02 returned 222.6 metres of 1,101.7 ppm lithium from 118.9 metres, including 39.9 metres of 2,217.69 ppm lithium and 15.2 metres of 3,304.3 ppm lithium.

The company is now amending its existing drill permit for new drill hole locations, which it expects to file this month, and is currently selecting a contractor to start its second phase of exploration in the summer/fall of 2022.

Nevada Sunrise Gold has a market cap of $15.1 million.

NORAM LITHIUM Noram Lithium (TSXV: NRM; US-OTC: NRVTF) is a Vancouver-headquartered junior exploration and development company focused on advancing its wholly owned Zeus lithium project in Clayton Valley, Nev., approximately halfway between Las Vegas and Reno and about 1.6 km east of Albemarle’s (NYSE: ALB) Silver Peak mine, which is currently the only lithium production facility in the U.S. In June, Noram released the final assay results from its sixth drill program on the property.

Highlights include CVZ-81, which intersected 126.9 metres grading

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Critical Elements’ Rose lithium project in Quebec. CRITICAL ELEMENTS LITHIUM

1.086 parts per million (ppm) lithium from 10.7 metres downhole, including 100.6 metres of 1,169 ppm lithium.

The company says it is now updating the geological/lithium grade models for Zeus and will be used in the upcoming prefeasibility study for the project.

The grades and thicknesses of the mineralization intercepted by the drill holes are anticipated “to substantially improve the outlook for the Zeus deposit and upgrade approximately 175 million tonnes of the deposit from the inferred resource category to indicated resource,” says Brad Peek, Noram’s vice-president of exploration.

A preliminary economic assessment (PEA) for Zeus in December 2021 envisaged a mining operation with a 40-year life producing (once in full production) 245.4 million tonnes of lithium averaging 1,093 ppm lithium over the mine’s life.

The PEA estimated an after-tax net present value of US$1.3 billion (using an 8% discount rate) and an internal rate of return of 31%. The study pegged initial capital costs at US$528 million and the after-tax payback period at 3.2 years.

Commenting on the findings from the PEA in December, Sandy MacDougall, Noram’s chief executive, said the study “represents the most significant milestone to date for Noram and establishes us among limited peers as the newest low cost, high-grade, near-term lithium producer in North America.”

Noram Lithium has a market cap of $48.8 million.

PATRIOT BATTERY METALS Patriot Battery Metals (CSE: PMET; US-OTC: RGDCD) is exploring for precious, base, and technology metals and holds a portfolio of properties in Quebec, British Columbia, the Northwest Territories and Idaho.

The Vancouver-based junior is focused on advancing its 100%owned Corvette lithium project in the James Bay region of Quebec, approximately 275 km northwest of the Cree village of Nemaska.

Situated within the La Grande Greenstone belt, the 214-sq.-km property hosts significant mineral potential along a 50-km pegmatite trend containing multiple deposit types, including lithium pegmatite outcrops, orogenic gold, volcanogenic massive sulphides, komatiite, and magmatic-hydrothermal.

Patriot Battery has two drill rigs operating on Corvette as part of its summer/fall 2022 drill program, which started in early June.

The drilling campaign, expected to include at least 15,000 metres, will focus on infill and step-out holes at the CV5-1 pegmatite corridor on the property as well as testing regional targets.

To date, nine holes totaling 3,111 metres have been completed with a third drill rig scheduled to arrive in July.

The company has also begun a surface exploration program on the property, with detailed mapping over the CV5-1 corridor already identifying several new spodumene-bearing outcrops located about 150 metres southwest of the CV5 pegmatite outcrops, and roughly 200 metres along strike of the CV3 pegmatite outcrop.

Patriot Battery says that the loca-

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tion of these newly discovered pegmatite outcrops suggests another subparallel trending spodumenebearing pegmatite may be situated south of the main pegmatite body currently being drill tested.

The current drilling campaign follows a 20-hole, 4,345-metre 2022 winter/spring drill program completed earlier this year, which identified spodumene mineralization over varying intervals in 19 out of 20 holes.

Highlights include hole CV22017, drilled on the CV5-1 corridor. It returned the highest lithium grades yet on property, intersecting 70.1 metres grading 2.22% lithium and 147 parts per million (ppm) tantalum pentoxide (Ta₂O₅) from 165.7 metres downhole, including a higher-grade core of 40.7 metres of 3.01% lithium and 160 Ta₂O₅.

Patriot Battery Metals has a market cap of $196.3 million.

USHA RESOURCES Canadian explorer Usha Resources (TSX: USHA; US-OTC: USHAF) is focused on advancing its portfolio of early-stage high-grade precious and battery metals projects in North America. These include the Jackpot Lake lithium brine project in Moapa Valley in Nevada, the Lost Basin gold-copper project in Mojave County in Arizona, and the Nicobat nickel-copper-cobalt project in the Rainy River district in northwest Ontario.

In June, Usha announced that it has started exploration work on the recently acquired drill-ready Jackpot Lake, which comprises 140 mining claims totalling 11.3 sq. km, approximately 35 km northeast of Las Vegas.

The company says that previous exploration of the property

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that included the collection of core and sediment samples, gravitational surveying, geophysical modelling, and controlled source audio magnetotellurics/magnetotellurics surveys delineated a 5- by 2-km anomaly that suggests the presence of a highly concentrated lithium brine.

Following a site visit by Usha’s technical team, which reviewed drill sites for the construction of access roads and drill pads in preparation for the drilling, permitting for the first drill program on the property is underway, it says.

The company plans to start drilling in late summer/early fall. The drilling will comprise six holes (2,700 metres) to define an initial resource for the project.

According to Usha, Jackpot Lake is a similar style deposit as Albemarle’s (NYSE: ALB) Silver Peak mine, which has operated continuously since 1996, and Iconic Minerals’ (TSXV: ICM; US-OTC: BVTEF) Bonnie Claire lithium property, where a 2021 preliminary economic assessment envisioned a 40-year mine with an after-tax net present value (using an 8% discount rate) of US$1.5 billion and after-tax internal rate of return of 23.8%.

“With a well-funded treasury, we anticipate the remainder of 2022 to be an extremely active year and we look forward to a busy and productive field season at Jackpot Lake as we also proceed with our other catalysts including the Nicobat Nickel spinout,” said Deepak Varshney, Usha’s chief executive, in a June 22 press release announcing the planned exploration program.

Usha Resources has a market cap of $10.7 million. TNM

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Tartisan releases positive PEA for Kenbridge underground nickel mine ONTARIO

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| Deposit discovered in 1937 could produce 200,900 tonnes of nickel over 9 years

BY JACKSON CHEN

artisan Nickel (CSE: TN; US-OTC: TTSRF) has announced results of a positive preliminary economic assessment for its flagship Kenbridge nickel project, adjusting the mine plan to focus solely on mining resources from underground.

Located in the Kenora mining district of northwestern Ontario, the Kenbridge project currently has an existing shaft to a depth of 622 metres.

The PEA indicates a nine-year mine plan based on a 1,500-tonne per day mining and processing operation. At present, the Kenbridge project contains measured and indicated resources of 3.51 million tonnes grading 0.70% nickel, 0.35% copper and 0.01% cobalt, and inferred resources of 1.01 million tonnes of 1.21% nickel, 0.56% copper and 0.01% cobalt.

Over the life of mine, processing would produce 200,900 tonnes of nickel concentrate at 15% nickel and 66,900 tonnes of copper concentrate at 24% copper. This amount will contain 52.6 million lb. of payable nickel and 30.7 million lb. of payable copper.

Revenues from over the mine life are estimated at $837 million, while operating costs are pegged at $292 million. Capital costs are estimated at $227 million and include pre-production capital costs of $134 million.

Total cash flow generated by the project, minus its operating and capital expenditures, closure costs and taxes, would amount to $180 million. Its after-tax net present value, using a 5% discount rate, is estimated at $109 million, with an internal rate of return of 20%.

Aerial view of Tartisan Nickel’s Kenbridge project in northwestern Ontario. TARTISAN NICKEL

“We are extremely pleased with the results of the PEA, which is focused solely on the current underground mineral resource.

There remains excellent potential to increase and upgrade the quality of the near-surface mineralization at Kenbridge, thereby adding additional years of production or providing the basis for an increase in annual throughput,” Mark Appleby, president and CEO of

Tartisan, said.

Underground mining will allow the company to use the existing shaft infrastructure, thereby accessing higher grades of mineralization early in the proposed mine life, Appleby added.

The company has now commenced the necessary baseline studies for project permitting and is upgrading the access road to the site, with completion anticipated

in September 2022.

The Kenbridge nickel deposit was first discovered in 1937 by Coniagas. Falconbridge acquired the property in 1952 and began construction in 1954, with a subsequent mining operation lasting for 2.5 years. A 609-metre shaft with two working levels was developed and a bulk sample was extracted, but it was shut down in 1958.

The project sat dormant until

2007, when Canadian Arrow acquired the property, completed a 40,000-metre drill campaign, and proceeded to establish an NI 43-101 resource estimate and PEA. The company was later acquired by Tartisan in 2017, which went on to update the resource based on a combined open pit and underground operation (7.58 million tonnes at 0.58% nickel and 0.32% copper measured and indicated). TNM

Rock Tech signs framework agreement with car maker in Germany LITHIUM

R A training session at Northern Graphite’s Okanjande project in Namibia.

NORTHERN GRAPHITE

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equity on the same terms as the equity offering as partial payment of the purchase price.

The company also holds the advanced Bissett Creek graphite project in Ontario, 100 km west of Ottawa. The project, was which was the subject of a 2012 feasibility study that was updated in 2013 (as well as as a sensitivity analysis completed in 2018) holds probable reserves of 28.3 million tonnes ore grading 2.06% graphitic carbon using a 0.96% cutoff grade.

Northern Graphite says its business strategy is to “rapidly expand production and develop the capacity to produce anode material for use in electric vehicles/batteries in both North America and Europe.”

The company’s ultimate plan is to build a large, new processing facility adjacent to the Okanjande mine, which will be capable

of producing up to 150,000 tonnes per year to meet growing battery/ EV demand.

Okanjande has a historic measured and indicated resource of 6.1 million tonnes grading 4.7% graphitic carbon and an inferred resource of 1.2 million tonnes grading 3.9% in weathered material.

The weathered resources overlie fresh rock with historic measured and indicated resources of 28.8 million tonnes grading 5.3% and fresh rock inferred resources of 24.3 million tonnes grading 4.5%.

The historic resource was calculated using a 3% cut-off grade.

Over the last year, shares of Northern Graphite listed in Toronto have traded in a range of 33¢ and 94¢ and at press time were trading at 49¢. The junior has about 119.4 million common shares outstanding for a market cap of about $58.7 million. TNM

BY JACKSON CHEN

ock Tech Lithium (TSXV: RCK; US-OTC: RCKTF) has signed a framework agreement with an unnamed global car maker headquartered in Germany to supply lithium hydroxide over an initial five-year period.

Rock Tech is building a lithium hydroxide converter in Germany (Guben, Brandenburg), and expects to start production there in 2024. The facility is forecast to have a production capacity of 24,000 tonnes per year, an amount that Rock Teck says would be needed to equip about 500,000 electric vehicles with lithium-ion batteries.

The agreement “represents a key step towards reducing overall risk by further establishing a core customer for its production of domestically produced lithium hydroxide,” Matthew O’Keefe, a mining analyst with Cantor Fitzgerald, commented in a note to clients.

Rock Tech, he added, “has built a broad management team with former executives from BMW and a technical group with development and operational experience in industrial plants, chemical processing and lithium production.”

| Facility slated for startup in 2024 The agreement announced on July 13 follows a non-binding memorandum of understanding (MOU) that Rock Tech announced on July 7 to supply lithium spodumene concentrate to thyssenkrupp Materials Trading. The MOU also included a framework relating to the purchase of high-purity lithium hydroxide and other byproducts from the refining process.

“With thyssenkrupp Materials Trading we have found a global logistics and trading partner that gives us further security in the supply of spodumene,” Markus Brugmann, Rock Teck’s CEO, said in a news release. “This is expected to give us a broader base for our input stream, which would take us a big step forward on the road to success.”

Thyssenkrupp AG is a German multinational conglomerate focused on industrial engineering and steel production.

In a corporate presentation in June, Rock Tech said it expects construction of the converter facility in Germany to start in the second half of 2022 and permitting is expected to be completed in the first quarter of 2023.

It also said it has optioned four other converter locations in Europe, and estimated that oper-

ating five converts by 2030 would enable it to supply about 30% of Europe’s demand.

Rock Tech also owns the Georgia Lake lithium project in Ontario, where it is working on completing a prefeasibility study.

The project hosts measured and indicated resources of 6.6 million tonnes grading 1.16% lithium oxide (Li2O) and inferred resources of 6.7 million tonnes grading 1.16% Li2O. Georgia Lake is envisioned as an open-pit and underground lithium operation with an initial mine life of 11 years. An updated preliminary economic assessment in March 2021 gave the project a post-tax net present value of US$289 million and an internal rate of return of 19.6%.

The company said that following the release of a prefeasibility study, construction could start as early as the second quarter of 2023. TNM

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JULY 25 — AUGUST 7, 2022 / THE NORTHERN MINER

WWW.NORTHERNMINER.COM

Barrick, Pakistan set funding structure for Reko Diq COPPER-GOLD

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| Feasibility study for US$7B project to be updated after deal is finalized

BY CECILIA JAMASMIE

arrick Gold (TSX: ABX; NYSE: GOLD) and the Pakistan government have agreed on the structure governing the funding and profit-sharing of the US$7 billion Reko Diq copper-gold deposit.

The agreement in principle sets a partnership between Barrick, the Balochistan provincial government (where the project is located) and Pakistani state-owned enterprises, the company said on July 19.

The operation will be owned 50%

by Barrick, 25% by the province and 25% by Pakistani state-owned enterprises. Once the definitive agreements are finalized, Barrick will update the unpublished 2010 feasibility study — a process that’s expected to take two years.

The structure, the gold miner said, ensures that Balochistan receives a “substantial” share of the benefits generated by the operation.

“Balochistan’s shareholding in Reko Diq will be fully funded by its partners and the federal government, which means that the province will reap the dividends,

Reko Diq, located in Pakistan’s Balochistan province, is one of the world’s largest undeveloped copper-gold deposits. BARRICK GOLD

royalties and other benefits of its 25% ownership without having to contribute financially to the construction and operation of the mine,” chief executive Mark Bristow said in a statement.

Barrick will implement a range of social development programs before the deals are finalized and

vowed to spend US$70 million over the construction period. This includes upfront commitments of up to US$3 million in the first year following closing, and up to US$7 million in the second year.

The operation will also advance royalties to Balochistan’s government of up to US$5 million in the

first year following closing, up to US$7.5 million in the second year, and up to US$10 million per year thereafter until commercial production starts. This is subject to a cumulative US$50 million maximum of advance payments, Barrick said.

The Reko Diq project, which hosts one of the world’s largest undeveloped open pit copper-gold deposits, has been on hold since 2011 due to a dispute over the legality of its licensing process. Barrick solved the long-run dispute earlier this year, reaching a preliminary out-of-court deal that cleared the path for a final agreement on how to run the mine and profit-sharing.

The project is now seeking financing partners, with a target of 50% debt to total capitalization.

The company plans to deliver production as early as 2027-2028 at a cost of around US$4 billion, with a second phase to follow in five years costing roughly US$3 billion.

The miner noted that construction of the first phase Reko Diq, close to the borders of Iran and Afghanistan, will follow the study.

Two-phase development The conceptual design calls for an open pit to be built in two phases, starting with a plant that will be able to process approximately 40 million tonnes of ore per year, which could be doubled in five years.

The latest plan calls for doubling the annual throughput capacity and investing more than twice the amount estimated in an unpublished 2010 feasibility study.

During peak construction the project is expected to employ 7,500 people and once in production it will create 4,000 long-term jobs during the at least 40-year life of the mine.

Some analysts believe that Pakistan’s lack of experience in mining and its political instability make this a risky deal. Bristow, however, said in May that he had worked in challenging situations all his life and that he was “very comfortable” with the project. He added that this was the “perfect opportunity for the mining industry to demonstrate what it can bring to an economy” of a region that has been “neglected” and struggles to get access to potable water. TNM

Franco-Nevada invests US$352M in Tocantinzinho gold project BRAZIL

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BY JACKSON CHEN

old streaming company Franco-Nevada (TSX: FNV; NYSE: FNV) has committed US$352.5 million to a finance package totalling US$481 million for the Tocantinzinho project located in Pará state, Brazil, currently held by G Mining Ventures (TSXV: GMIN). The project is construction-ready, and first production is expected in the second half of 2024.

Located 200 km southwest of the city of Itaituba, Tocantinzinho is expected to be a low-cost, conventional open pit mining and milling operation. The project’s positive economics were confirmed in a recent feasibility study that forecast total gold production of 1.8 million oz. over a mine life of 10.5 years, resulting in an average annual gold production of 174,700 oz. with an all-in-sustaining cost of US$681 per oz. and initial capital cost of US$458 million.

The study pegged Tocantinzin-

GOLD FIELDS from 6

Gold Fields’ primary listing is on the Johannesburg Stock Exchange and a secondary listing in New York. While the miner now plans a Toronto listing, it said it would keep its head office in Johannesburg after the merger.

Raj Ray, a mining analyst with BMO Capital Markets, said Gold Fields’ ability to unlock significant value in the near-term seems limited.

“While the enhanced dividend policy is incrementally positive, we are not convinced whether the additional 1% yield in 2023 adequately incentivizes Gold Fields shareholders for the significant

| G Mining Ventures expect first production in H2 2024

ho’s after-tax net present value (with a 5% discount rate) at US$622 million, and its internal rate of return at 24% using a gold price of US$1,600 per ounce. The project mine plan is based on proven and probable mineral reserves of 48.7 million tonnes at an average gold grade of 1.31 grams gold per tonne for 2 million contained ounces of gold.

To support the project’s construction, Franco-Nevada has agreed to spend US$250 million to acquire a gold stream on the Tocantinzinho project, based on the following schedule: 12.5% of gold produced until 300,000 oz. of gold have been delivered, and 7.5% of gold produced for the remaining life of mine. G Mining will receive 20% of the spot gold price for each ounce of gold delivered.

Franco-Nevada will also have the option to purchase gold stream on additional properties with mining production processed through the Tocantinzinho facilities.

In addition to the gold stream,

near-term dilution,” Ray wrote.

Shareholders are scheduled to vote on the takeover bid on Oct. 12.

Salares Norte back-up With operations in Australia, West Africa and the Americas, Gold Fields has only one mine left in the home country — South Deep. Its portfolio includes three operations in Ghana, the Cerro Corona mine in Peru, and the Salares Norte project in Chile, where the company has encountered some hiccups.

First the company had to deal with relocating a small population of endangered chinchillas and is now facing potential sanctions from the country’s environmental regulator due to the death

Franco-Nevada has agreed to provide a US$75-million, six-year term loan to G Mining and subscribe for US$27.5 million worth of G Mining’s shares. Proceeds from the share purchase would fall under G Mining’s previously announced US$116.4 million equity financing.

At closing, Franco-Nevada would own 9.9% of G Mining’s outstanding shares.

The entire funding package to G Mining (US$352.5 million) will be drawn from Franco-Nevada’s cash on hand. As of Mar. 31, the company had approximately US$723 million in cash and cash equivalents and US$1.7 billion in available capital.

“Tocantinzinho is an attractive project in a prolific district and located in a good jurisdiction.

The G Mining Ventures team has a track-record as one of the most capable mine building teams in the industry. As a stream financing partner we seek, through our financing and our involvement in projects, to help mine developers

of specimens of culpeo fox in the area. The company has said the project is on track to begin production in the first quarter of 2023.

Apart from Salares Norte, Gold Fields doesn’t have any projects in the pipeline or a strategy to counter an expected decline in production over the next few years.

The new Gold Fields could see its total output climb to 3.8 million oz. gold per year from 2024 as Salares Norte begins contributing to overall production.

Within a decade, company CEO Griffith sees Gold Fields potentially increasing production to 4.8 million ounces gold annually. TNM

Tocantinzinho is a permitted and construction-ready gold project located in Brazil’s Para state. ELDORADO GOLD

raise their full financial package on attractive terms,” Paul Brink, president and CEO of Franco-Nevada, commented.

As for the rest of Franco-Nevada’s financing commitment to the project, the company has arranged equity private placements to two strategic investors — US$68.8 million to La Mancha Investments and

US$20 million to Eldorado Gold (TSX: ELD: NYSE: EGO), and up to US$40 million in equipment financing with Caterpillar Financial Services.

Eldorado Gold is the previous owner of the Tocantinzinho project; G Mining acquired it in October 2021 for US$115 million. TNM

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MARKET NEWS TORONTO STOCK EXCHANGE / JULY 11 – 15, 2022 Metals markets and equities continued to slide over the July 11-15 trading week, with the S&P/TSX Composite Index falling 628.41 points, or 3.3% to 18,394.45; the S&P/ TSX Global Mining Index losing 5.44 points or 5.8% of its value; and the S&P/TSX Global Base Metals Index dropping 9.85 points or 6.6% to 139.75. The S&P/TSX Global Gold Index gave up 14.45 points or 5.6% to 245.45, while spot gold finished the week at US$1706.15 per oz., down US$32.05 or 1.8%.

Signal Gold was the top gainer for the period, jumping 27.8% or 10¢ to 46¢. The Atlantic-focused company (formerly Anaconda Gold), released infill drill results from its Goldboro project in Nova Scotia. The 3,865-metre, 31-hole drill program returned highlights including 2.5 metres of 18.71 grams gold per tonne starting from 13.5 metres depth (including 0.5 metre of 85.3 grams gold) in hole BR-22-354; and 3 metres of 11.4 grams gold starting from 34.8 metres depth (including 0.5 metre of 60.5 grams gold) in hole BR-22-345.

The drilling was conducted to upgrade inferred resources. Under a January 2022 feasibility study, about 975,000 tonnes of inferred resources grading 2.11 grams gold per tonne — mainly in the East Goldboro pit — would be mined with the measured and indicated resource, but are currently consid-

ered waste. Upgrading these resources would strengthen Goldboro’s economics.

The feasibility outlined total production of 1.1 million oz. gold at Goldboro over an 11-year mine life at an average diluted grade of 2.26 grams gold per tonne. The initial capital cost was pegged at $271 million, with lifeof-mine sustaining capital of $63.1 million.

The study forecast an after-tax net present value (at a 5% discount) of $328 million and an internal rate of return of 25.5%.

Teck Resources rose 60¢ on the week after reporting on July 7 that it achieved record metallurgical coal prices in its second quarter of US$453 per tonne. The price surpassed the US$357 per tonne it received in the first quarter — which drove a US$1.6-billion increase in gross profits for its steelmaking coal unit.

TSX MOST ACTIVE ISSUES VOLUME

Suncor Energy Barrick Gold First Quantum New Gold Kinross Gold Lundin Mng Argonaut Gold B2Gold Corp Teck Res Capstone Mng

SU ABX FM NGD K LUN AR BTO TECK.B CS

(OOOs)

HIGH

36579 25019 16957 16228 14556 13819 12608 11167 10352 9838

42.67 22.49 24.44 1.34 4.46 7.84 0.51 4.39 35.25 2.83

WEEK LOW

CLOSE CHANGE

37.75 39.32 20.07 20.40 19.27 20.44 0.88 0.91 3.92 4.01 6.73 7.26 0.41 0.41 4.06 4.13 32.68 35.06 2.25 2.40

-

3.11 1.87 4.56 0.42 0.34 0.66 0.06 0.21 0.70 0.50

Due to coal price reductions at the end of the second quarter, Teck expects to record provisional pricing adjustments of negative $73 million. Its steelmaking coal production for the second quarter was 6.3 million tonnes; it expects to produce 24.5 to 25.5 million tonnes this year from its four coal mines in British Columbia’s Elk Valley.

Calibre Mining shares rose 9% during the period to end at 97¢ per share. The company TSX GREATEST PERCENTAGE CHANGE VOLUME (OOOs)

Anaconda Mng NextSource Mat Calibre Mng Seabridge Gld Orezone Gold Candente Coppr Novo Res Gatos Silver Belo Sun Mng Fortune Min New Gold Great Panther Mandalay Res Arizona Gold Xanadu Mines Sierra Metals Eastern Platin First Quantum Meridian Mg Silver Eleph

SGNL NEXT CXB SEA ORE DNT NVO GATO BSX FT NGD GPR MND SGLD XAM SMT ELR FM MNO ELEF

announced record consolidated production of 59,723 oz. of gold — a 37% increase from the second quarter of 2021. Calibre has two processing facilities and several gold mines in Nicaragua. It is also advancing a 50,000metre drill program at its Pan heap-leach gold mine in Nevada. It expects to produce a total of 220,000 to 235,000 oz. gold this year ­— 180,000-190,000 at its Nicaragua operations and 40,000-45,000 oz. At Pan. TNM TSX GREATEST VALUE CHANGE

WEEK

HIGH

VOLUME

LOW CLOSE CHANGE

203 0.46 0.00 0.46 + 27.8 547 2.19 1.73 2.13 + 14.5 4505 1.01 0.85 0.97 + 9.0 615 16.68 14.28 16.16 + 8.2 429 1.33 1.20 1.33 + 8.1 567 0.16 0.12 0.14 + 7.7 946 0.45 0.39 0.44 + 7.3 94 4.00 3.35 3.64 + 6.4 337 0.27 0.22 0.25 + 6.4 393 0.10 0.09 0.10 + 5.6 16228 1.34 0.88 0.91 - 31.6 906 0.16 0.12 0.12 - 25.8 63 2.84 2.15 2.21 - 21.9 2101 0.05 0.04 0.04 - 20.0 2385 0.03 0.02 0.02 - 20.0 254 1.03 0.83 0.83 - 18.6 463 0.21 0.17 0.18 - 18.6 16957 24.44 19.27 20.44 - 18.2 834 0.65 0.48 0.50 - 18.0 208 0.62 0.48 0.50 - 17.5

(OOOs)

Seabridge Gld Teck Res Cameco Corp NextSource Mat Gatos Silver Maverix Metals Perpetua Res Orezone Gold Anaconda Mng PolyMet Mng Franco-Nevada Newmont Corp First Quantum Nutrien Suncor Energy Agnico Eagle Filo Mg Corp Labrador IOR Barrick Gold Lithium Amer

SEA TECK.A CCO NEXT GATO MMX PPTA ORE SGNL POM FNV NGT FM NTR SU AEM FIL LIF ABX LAC

HIGH

615 13 5471 547 94 231 39 429 203 5 2206 730 16957 6599 36579 5755 962 1515 25019 2580

WEEK LOW CLOSE CHANGE

16.16 37.20 29.17 2.13 3.64 5.47 3.73 1.33 0.46 3.60 165.72 71.33 20.44 95.39 39.32 55.53 15.20 25.83 20.40 26.49

+ + + + + + + + + + -

1.22 0.60 0.31 0.27 0.22 0.15 0.11 0.10 0.10 0.09 6.39 5.61 4.56 3.44 3.11 3.00 2.15 1.98 1.87 1.66

TSX VENTURE EXCHANGE / JULY 11 – 15, 2022 Over the July 11-15 trading week, the S&P/ TSX Venture Composite Index fell 21.95 points or 3.7% to end at 584.43.

Shares of IsoEnergy rose 21¢ to $3.03 during the trading week as the company provided an update on its winter exploration results and announced summer exploration plans for its eastern Athabasca Basin uranium properties. Highlights of drill results from the Larocque East project included 2 metres grading 1% uranium oxide, starting at 335 metres in drillhole LE22-115A and 0.5 metre grading 0.4% uranium oxide, starting at 282 metres in hole LE22-116.

Electromagnetic surveying was completed at the company’s Hawk and Ranger projects in the winter as the properties were advanced to a drill-ready state. Initial drill campaigns are planned for both the projects in 2023.

In the summer, IsoEnergy plans to conduct 7,000 metres of diamond drilling at its Larocque East, Geiger and Trident projects. While drilling at Larocque will include six holes totalling 2,000 metres, Geiger will comprise eight holes worth 3,000 metres and Trident will include eight holes covering 200 metres.

Shares of Thunder Gold jumped by 66% to 8¢ during the trading week. The company inked a deal with privately held Himba Metals related to its Okohono copper-silver property in Namibia. Under the agree-

ment, which followed a letter of intent signed in March between the companies, Himba has secured an option to acquire Thunder Gold’s 95% interest in Okohongo. Himba has paid a total of US$500,000 to Thunder Gold so far. The deal also requires Himba to pay US$500,000 by Nov. 30 and grant Thunder Gold a 1% net smelter return royalty. The Okohongo deposit covers about 720 metres in strike length. It is 740 metres wide and continues at least 400 metres down-dip.

The project is situated within the Kaoko Belt and hosted by metasedimentary strata. It is considered analogous with the stratiform sediment-hosted Central African copperbelt deposits of Zambia and the Democratic Republic of the Congo. Its inferred mineral resources are estimated to be 7.7 million TSX-V MOST ACTIVE ISSUES VOLUME (OOOs) HIGH

Aurcana Silver Fission 3.0 Mineworx Tech Arctic Star Brixton Metals Atlas Salt Honey Badger Millennial Pr SearchlightRes Azincourt Ener

AUN FUU MWX ADD BBB SALT TUF MPM SCLT AAZ

6178 4093 4081 3585 3373 3246 3210 3051 3048 2944

0.03 0.09 0.05 0.10 0.15 3.22 0.06 0.30 0.11 0.06

LOW

0.02 0.07 0.04 0.08 0.12 2.45 0.04 0.22 0.09 0.05

WEEK CLOSE CHANGE

0.03 unch 0.00 0.07 - 0.01 0.04 - 0.01 0.09 + 0.01 0.13 - 0.01 3.00 + 0.51 0.05 - 0.01 0.26 - 0.05 0.11 + 0.02 0.05 - 0.01

tonnes averaging 1.55% copper.

Shares of Western Alaska rose 21¢ to $1.80 as the company announced visual observations from its first 13 drill holes at its Illinois Creek project in western Alaska. The company said drilling at the project’s Waterpump creek carbonate replacement deposit encountered “significant” massive sulphide intercepts. Western reported massive sulphides in hole WPC22-07, with a 12.1-metre intercept TSX-V GREATEST PERCENTAGE CHANGE VOLUME (OOOs)

GobiMin Millennium Sil White Metal Rs El Nino Vent Frontline Gold Medgold Res Akwaaba Mining Tsodilo Res Jayden Res Cordoba Mnls Zincore Mtls Discovery Harb Canadian Silv San Lorenzo Gold State Res Allied Copper Paleo Resource Zena Mining Pangolin Dia Blue Thunder

GMN MSC TGOL ELN FGC MED AML TSD JDN CDB ZNC.H DHR AGH.H SLG GOST CPR EFV ZCC.H PAN BLUE

TSX-V GREATEST VALUE CHANGE

WEEK

HIGH

398 18 502 10 65 3 75 158 88 127 114 455 586 137 2511 301 159 207 114 2291

starting from 150.4 metres; in hole WPC2208, which returned a 7.7-metre interval starting at 114.6 metres; and hole WPC22-011, which cut 11.3 metres starting at 139.1 metres (all intercepts represent true widths). Western Alaska noted that while the visual results are encouraging, the assay results are pending.

The aim of the 2022 drilling is to expand the mineralized footprint and to develop basic ore controls and trends. TNM

VOLUME

LOW CLOSE CHANGE

0.90 0.01 0.09 0.03 0.02 0.02 0.02 0.70 0.22 0.73 0.05 0.01 0.03 0.12 0.03 0.11 0.02 0.10 0.01 0.02

0.00 0.01 0.05 0.00 0.00 0.00 0.00 0.00 0.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.83 +315.0 0.01 +100.0 0.08 + 66.7 0.03 + 50.0 0.02 + 50.0 0.02 + 50.0 0.02 + 50.0 0.70 + 48.9 0.22 + 46.7 0.73 + 46.0 0.01 - 77.8 0.01 - 50.0 0.02 - 42.9 0.07 - 41.7 0.02 - 40.0 0.07 - 38.1 0.01 - 33.3 0.10 - 33.3 0.01 - 33.3 0.01 - 33.3

(OOOs)

GobiMin Atlas Salt Highwood Asset Colonial Coal Cordoba Mnls Tsodilo Res IsoEnergy Ltd Western Alaska Golden Secret Anacortes Mg Nouveau Monde Sigma Lithium Artemis Gold Rupert Res New Found Gold Frontier Lith Eloro Res Los Andes Saturn Mnrls Foran Mining

GMN SALT HAM CAD CDB TSD ISO WAM TBRD XYZ NOU SGML ARTG RUP NFG FL ELO LA SOIL FOM

HIGH

WEEK LOW CLOSE CHANGE

398 0.83 3246 3.00 2 10.00 840 2.15 127 0.73 158 0.70 229 3.03 84 1.80 96 3.75 147 0.93 214 4.94 40 18.80 318 3.80 219 3.90 281 5.21 1708 1.33 700 3.08 8 14.20 395 2.04 1325 2.15

+ + + + + + + + + + -

0.63 0.51 0.50 0.34 0.23 0.23 0.21 0.21 0.16 0.13 1.25 1.25 0.82 0.75 0.60 0.47 0.45 0.45 0.43 0.38

U.S. MARKETS / JULY 11 – 15, 2022 Over the July 11-15 trading week, the Dow Jones Industrial Average gained 113.23 points, or 0.36%, to 31,451.38, and the S&P 500 fell 8.27 points or 0.21% to 3,891.11.

Shares in coal miner Arch Resources gained US$1.26 during the week to US$140.06. The company has scheduled a highly anticipated second-quarter conference call for July 28. The market is bullish on coal against an apparent pause, or even regression, of anti-fossil fuel sentiment in the wake of the Russian war on Ukraine and the fallout from Western sanctions against the perpetrator. Disruptions to coal supplies exacerbate a tight market, pushing coal prices to astronomical highs. With Russia cutting off gas supplies to industrialized nations such as Germany, coal is once more stepping up as a primary energy source. It bodes well for highly efficient, low-cost thermal mines in the Powder River Basin and Colorado in the U.S. which produce cost-competitive thermal coal. Analysts expect second Arch Resources’ quarterly per-share earnings to come in at US$22.67, up from last year’s comparable figure of US$1.66.

Canada-focused Seabridge Gold was another top-performing stock, adding US93¢ in the week to US$12.44. On July 11, the company announced plans to spend $150 million

this year to prepare the KSM gold-copper deposit — said to be the largest undeveloped deposit of its kind globally — for development. Seabridge has spent $480 million to move the KSM project through exploration, engineering and environmental permitting.

Earlier this year, Seabridge raised $285 million through Sprott Resource Streaming and Royalty Corp. and the Ontario Teachers’ Pension Plan and signed a power agreement with BC Hydro to supply the new mine with power. Seabridge plans to spend $150 million this year on infrastructure needed to prepare the new mine for development, and as much again next year. That includes building road access, work camps and a new bridge across the Bell Irving River.

U.S. MOST ACTIVE ISSUES VOLUME (OOOs) HIGH

Vale* Barrick Gold* Freeport McMoR* Kinross Gold* Cleveland-Clif* Yamana Gold* United States S* Suncor Energy* Chevron Corp* Hecla Mining*

LOW

WEEK CLOSE CHANGE

VALE 178150 13.75 12.25 12.65 GOLD 137372 17.27 15.27 15.66 FCX 134895 27.31 24.80 25.82 KGC 94270 3.45 3.00 3.09 CLF 81475 15.83 14.32 14.99 AUY 76898 4.98 4.40 4.57 X 61383 18.15 16.92 17.73 + SU 45040 32.78 28.65 30.19 CVX 41709 142.85 132.54 137.65 HL 41577 4.00 3.47 3.77 +

1.60 1.52 2.18 0.26 0.48 0.21 0.11 2.55 5.12 0.12

Among the worst performers was Rio Tinto, which announced a cost increase of US$300 million for the ongoing expansion of its massive Oyu Tolgoi copper-gold mine in Mongolia. The world’s second-largest miner said the cost and schedule forecast, completed in June, now pegs the total project cost estimate at nearly US$7.1 billion, almost US$1.8 billion higher than its original estiU.S. GREATEST PERCENTAGE CHANGE VOLUME (OOOs)

CONSOL Energy* CONSOL Energy* Seabridge Gld* Gatos Silver* Hecla Mining* MartinMarietta* Black Hills* NACCO Ind* Arch Resources* United States S* Nouveau Monde* Sibanye-Stillw* McEwen Mng* HudBay Min* Nexa Resources* Vale* Barrick Gold* Southern Copp* Harmony Gold* Newmont Corp*

CEIX CNX SA GATO HL MLM BKH NC ARCH X NMG SBSW MUX HBM NEXA VALE GOLD SCCO HMY NEM

HIGH

4066 14793 2667 3130 41577 1742 1159 120 2330 61383 427 19767 13755 11589 602 178150 137372 7682 22514 31157

mate in 2015. The company blamed the rise on skilled labour supply constraints caused

by Covid-19 and noted the new estimate, under review by Oyu Tolgoi’s board, assumes there are no further disruptions. Rio Tinto currently controls and operates the mine, located 550 km south of Mongolia’s capital Ulaanbaatar, through its 66% stake in Canada’s Turquoise Hill Resources. TNM U.S. GREATEST VALUE CHANGE

WEEK

VOLUME

LOW CLOSE CHANGE

58.39 17.59 12.89 3.09 4.00 318.84 72.68 42.07 145.68 18.15 4.81 10.25 0.43 3.63 5.94 13.75 17.27 50.17 3.33 59.53

48.77 57.02 + 13.9 15.67 17.58 + 8.6 10.94 12.44 + 8.1 2.58 2.82 + 6.8 3.47 3.77 + 3.3 303.10 314.96 + 2.4 70.00 72.38 + 1.7 37.00 38.98 + 1.1 129.30 140.06 + 0.9 16.92 17.73 + 0.6 3.64 3.79 - 20.2 8.67 8.85 - 15.6 0.33 0.36 - 14.3 3.08 3.26 - 12.6 4.95 5.20 - 11.7 12.25 12.65 - 11.2 15.27 15.66 - 8.8 44.70 46.96 - 8.2 2.92 3.03 - 7.9 53.92 54.73 - 7.8

(OOOs)

MartinMarietta* CONSOL Energy* CONSOL Energy* Arch Resources* Black Hills* Seabridge Gld* NACCO Ind* Gatos Silver* Cameco Corp* Hecla Mining* Franco-Nevada* Chevron Corp* Newmont Corp* Southern Copp* Rio Tinto* Nutrien* Natural Res Pt* Agnico Eagle* Suncor Energy* Freeport McMoR*

MLM CEIX CNX ARCH BKH SA NC GATO CCJ HL FNV CVX NEM SCCO RIO NTR NRP AEM SU FCX

HIGH

1742 4066 14793 2330 1159 2667 120 3130 21501 41577 2977 41709 31157 7682 25273 9751 61 13311 45040 134895

WEEK LOW CLOSE CHANGE

314.96 57.02 17.58 140.06 72.38 12.44 38.98 2.82 22.39 3.77 127.28 137.65 54.73 46.96 55.41 73.25 39.22 42.61 30.19 25.82

+ + + + + + + + + + -

7.52 6.94 1.39 1.26 1.24 0.93 0.43 0.18 0.12 0.12 5.56 5.12 4.63 4.18 3.70 3.01 2.59 2.56 2.55 2.18

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 25 — AUGUST 7, 2022

19

METALS, MINING AND MONEY MARKETS LME WAREHOUSE LEVELS

PRODUCER AND DEALER PRICES

Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening on July 14 2022 (change from July 7 2022 in brackets): Aluminium Alloy

2100

(0)

Aluminium

336850

(-16325)

Copper

129250

(-6100)

Lead

39225

(-125)

Nickel

63492

(-2226)

Tin

3525

(-80)

Zinc

79475

(-3550)

Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$168.05 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$16.55 Cobalt: US$27.10/lb.

Copper: US$3.18/lb.

Copper:CME Group Futures July 2022: US$3.23/lb.; Augsut 2022: US$3.24/lb.

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

Iron Ore 62% Fe CFR China-S: US$96.6 Lead: US$0.87/lb.

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

Ruthenium: Mid-mkt US$750 per oz.

Silver: Handy & Harman Base: US$18.69 per oz.; Handy & Harman Fabricated: US$23.36 per oz.

Tin: US$10.70/lb.

Uranium: U3O8, Trading Economics spot price: US$46.65 per lb.

U308 Zinc: US$1.32 per lb.

Prices current March 1, 2022

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of June 30, 2022 (with changes from June 15, 2022) Largest short positions Argonaut Gold AR 43736361 24412810 6/15/2022 Ivanhoe Mines IVN 19156941 -99052 6/15/2022 Kinross Gold K 17025336 -1224100 6/15/2022 Suncor Energy SU 16306217 857425 6/15/2022 Barrick Gold ABX 15624933 3689003 6/15/2022 McEwen Mng MUX 15537234 286741 6/15/2022 Victoria Gold VGCX 10286331 7261040 6/15/2022 Lundin Mng LUN 10041300 545453 6/15/2022 Fortuna Silvr FVI 9854360 -430532 6/15/2022 Wheaton Prec WPM 8740844 -547171 6/15/2022 First Quantum FM 8526904 840490 6/15/2022 New Gold NGD 8170909 446605 6/15/2022 Denison Mines DML 8130708 -45048 6/15/2022 Nexgen Energy NXE 7781439 -1420389 6/15/2022 IAMGOLD IMG 7366969 -1539282 6/15/2022 Largest increase in short position Argonaut Gold AR 43736361 24412810 6/15/2022 Victoria Gold VGCX 10286331 7261040 6/15/2022 Barrick Gold ABX 15624933 3689003 6/15/2022 Alexco Res AXU 5832127 2988753 6/15/2022 HudBay Min HBM 6426786 1423425 6/15/2022 Largest decrease in short position UEX Corp UEX 3115399 -2975132 6/15/2022 Nutrien NTR 4481188 -1763656 6/15/2022 IAMGOLD IMG 7366969 -1539282 6/15/2022 Nexgen Energy NXE 7781439 -1420389 6/15/2022 Sherritt Intl S 1538713 -1307606 6/15/2022

Short positions outstanding as of June 30, 2022 (with changes from June 15, 2022) Largest short positions Pure Gold Mg PGM 3838520 -2391631 6/15/2022 Purepoint Uran PTU 2575884 -160702 6/15/2022 Oroco Res OCO 2386867 -66402 6/15/2022 Strikepoint Gd SKP 2160168 1270591 6/15/2022 GoviEx Uranium GXU 2094423 -266888 6/15/2022 Lion One Mtls LIO 1909287 562377 6/15/2022 Canada Silver CCW 1777664 63205 6/15/2022 Blue Sky Uran BSK 1725163 -191330 6/15/2022 Saturn Mnrls SOIL 1540451 -22009 6/15/2022 New Found Gold NFG 1209261 114733 6/15/2022 Giga Metals GIGA 1177899 4339 6/15/2022 Artemis Gold ARTG 1030882 -204316 6/15/2022 Uragold Bay Rs HPQ 1020236 -98231 6/15/2022 Dolly Vard Sil DV 949244 15485 6/15/2022 Frontier Lith FL 934906 27059 6/15/2022 Largest increase in short position Strikepoint Gd SKP 2160168 1270591 6/15/2022 Avrupa Min AVU 800612 800563 6/15/2022 Discovery Silv DSV 816826 601818 6/15/2022 Lion One Mtls LIO 1909287 562377 6/15/2022 Rokmaster Res RKR 584457 510231 6/15/2022 Largest decrease in short position Pure Gold Mg PGM 3838520 -2391631 6/15/2022 Jourdan Res JOR 174108 -1349511 6/15/2022 Colombia Crest ATX 475123 -937773 6/15/2022 Benchmark Met BNCH 97203 -811328 6/15/2022 Cassiar Gold GLDC 61283 -751608 6/15/2022

DAILY METAL PRICES Date

JULY 11

JULY 12

JULY 13

JULY 14

JULY 15

BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne) Al Alloy 1700/1700 1700/17000 1700/1700 1700/1700 Aluminum 2416/2421 2357/2370 2342.5/2355 2328/2339.5 Copper 7622/7640 7370/7400 7265/7275 7215.5/7235 Lead 1939/1924 1943/1925 1979/1948 1889/1874 Nickel 21490/21400 21425/21530 21690/21650 20330/20375 Tin 25700/25590 25650/25500 24850/24375 25550/24875 Zinc 3120/3054 3135/3022 3060/2987 2970/2893 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.)

Gold AM 1737.40 1734.35 1728.90 Gold PM 1740.00 1730.70 1724.60 Silver 19.21 18.87 18.96 Platinum 874 850 841 Palladium 2153 2123 2016

1700/1700 2319.5/2335 6998/7000 1924/1897 19090/19010 23500/3120 2920/2856

1716.15 1700.70 18.76 831 1917

1702.55 1706.15 18.46 851 1864

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

Jul 15 1.3110 0.7628

Jul 14 1.3110 0.7628

Exchange rates (Quote Media, July 15, 2022) C$ to AUS C$ to EURO 1.1293 0.7609 C$ to UK Pound C$ to China Yuan 0.6443 5.1527 US to AUS US to EURO 1.4805 0.9975 US to UK Pound US to China Yuan 0.8446 6.7562

Jul 13 1.3002 0.7691

Jul 12 1.3033 0.7673

C$ to YEN 106.0090 C$ to India Rupee 60.9550 US to YEN 138.9820 US to India Rupee 79.8786

Jul 11 1.2995 0.7695 C$ to Mex Peso 15.8716 C$ to Swiss Franc 0.7498 US to Mex Peso 20.8076 US to Swiss Franc 0.9830

C$ to SA Rand 13.0737 C$ to S. Korea Won 1005.0026 US to SA Rand 17.1379 US to S. Korea Won 1316.8600

CANADIAN GOLD MUTUAL FUNDS FundName Jul 15 ($) BMO Prec Mtls Fd A 19.64 BMO ZGD 55.26 BMO ZJG 52.70 CANL Prec Mtl Fd A 13.89 CI Pre Met Fd A CIBC Prec Metal Fd A Dyn Prec Metls Fd A 9.48 Harvest HGGG Horizons GLCC IG MacGbPreMetCl A 11.76 iShares XGD NBI PrecMetFd Invt NP Silver Equ A 5.60 NPT Go&PrMinFd A 39.27 RBC GblPreMetFd A 42.10 TD Prec Mtl Fd Inv 39.34

Jul 08 ($) 20.71 57.74 54.86 14.75 43.01 12.63 9.86 21.68 23.41 12.45 16.25 15.61 5.84 40.67 44.44 41.29

Change ($) -1.08 -2.47 -2.17 -0.86 -1.74 -0.47 -0.38 -0.68 -0.95 -0.69 -0.78 -0.66 -0.23 -1.40 -2.33 -1.95

Change (%) -5.19 -4.29 -3.95 -5.80 -4.04 -3.67 -3.83 -3.15 -4.03 -5.53 -4.78 -4.20 -4.00 -3.43 -5.25 -4.72

YTDChange (%) -13.00 -15.09 -13.86 -16.91 -20.63 -10.78 -25.37 -17.35 -12.15 -16.57 -9.46 -14.06 -30.50 -23.77 -17.58 -11.01

MER (%) 2.41 0.60 0.61 2.58 2.31 2.27 2.67 0.68 0.81 2.63 0.61 2.47 3.24 3.19 2.09 2.26

TotalAssets (M$) 44.16 38.42 62.40 14.89 261.78 49.84 449.07 3.31 16.15 1003.02 22.82 266.74 108.64

NORTH AMERICAN STOCKEXCHANGE INDICES 52 weeks

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

Jul 15 18394.45 584.43 1116.13 245.43 224.27

Jul 14 18329.06 586.08 1112.40 249.11 224.27

Jul 13 18615.19 595.60 1131.71 257.70 224.27

Jul 12 18678.64 592.70 1135.97 253.99 224.27

Jul 11 18816.80 606.38 1144.27 258.44 224.27

High 22213.07 1025.77 1344.63 379.45 338.35

Low 18169.86 582.37 1104.88 242.22 216.47

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. eCobalt 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 the Issuer at $3.00 until expiry.

Novo Resources Corp. (NVO.WT.A) - One

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 warrant 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.

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

Eros Resources Corp. (ERC.WT) - One (1) Right exercisable for (1) Unit at $0.05 per Unit.

Falco Resources Ltd. (FPC.WT) - One warrant to purchase one common share at $1.70 per share.

Firefox Gold Corp. (FFOX.WT) - One warrant to purchase one common share at $0.60 per share.

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

Freeman Gold Corp (FMAN.WT.U) - One warrant to purchase one common share at US$0.65 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.

Hot Chili Limited (HCH.WT) - One warrant to purchase one common share at $2.50 per 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.

LithiumBank Resources Corp. (LBNK.WT) - One warrant to purchase one common share at $2.00 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

Warrant to purchase one common share of 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.

Millennial Precious Metals Corp. (MPM. WT) - One warrant to purchase one common share at $0.50 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.

Silver Mountain Resources Inc. (AGMR. WT) - One warrant to purchase one common share at $0.70 per share.

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

NEW 52-WEEK HIGHS AND LOWS JULY 11-15, 2022 17 New Highs African Gold* Atlas Salt Atlas Salt* Brazil Min* Decade Res Emgold Mining Emgold Mining* Endurance Gold Endurance Gold* First Idaho Focus Graphite* GobiMin Horizonte Mnls* Odyssey Res Pegasus Res* Ubique Mineral Zincore Mtls 272 New Lows QC Copper* AbraSilver Res AbraSilver Res* ACME Lithium Aftermath Silv* Agnico Eagle Agnico Eagle* Almaden Min* Alphamin Res Alphamin Res * Altaley Mining* Altamira Gold* Alto Ventures American Creek* American Mang American Mang* American Pac Americas Silvr Americas Silvr* Amerigo Res* Amex Expl Amex Expl* Anaconda Mng Anacortes Mg Anfield Energy* Anglo American* AngloGold Ash* Angold Res Apollo Silver Appia Rare

Appia Rare* Argonaut Gold* Artemis Gold Artemis Gold* Ascot Res Ascot Res * Aurcana Silver Aurcana Silver* Avino Silver Avino Silver* Azimut Explor Azincourt Ener* B2Gold Corp B2Gold Corp* Barrick Gold Barrick Gold* Belo Sun Mng Benchmark Met Benchmark Met* Black Iron* Blackrock Silv Bluejay Mining* Bluestone Res Buenaventura* Caledonia Mng* Canada Silver Canada Silver* CanAlaska Uran* Capstone Mng Centerra Gold Central Asia* Cerrado Gold Chesapeake Gld* Cleveland-Clif* Coeur Mng* Comstock Mng* Copper Mtn Mng Copper Mtn Mng* Defense Metals* Defiance Silvr* Discovery Silv Discovery Silv* DRDGOLD* Dundee Prec Mt EEE Explor Eldorado Gold Eldorado Gold* Elevation Gold Elevation Gold*

Emerita Res Emerita Res* Encanto Potash Endeavour Mng Equinox Gold Equinox Gold* Ethos Gold Excellon Res Excellon Res* Fabled Silver* First Majestic First Majestic* First Mg Fin First Mg Fin * First Quantum Fission 3.0* Fortuna Silvr Fortuna Silvr* Freeport McMoR* Fury Gold* Galane Gold * GCM Mining GCM Mining* Generation Min Generation Min* Global Battery* GoGold Res Gold Line Res Gold Mountain* Gold Std Vents Gold Std Vents* Golden Dawn Ml* Golden Mnls* Golden Tag Golden Tag* GoldMining Gratomic Gratomic* Great Panther Great Panther* Group Ten Mtls Group Ten Mtls* Guanajuato Sil Guanajuato Sil* Harmony Gold* HudBay Min HudBay Min* i-80 Gold IAMGOLD

IAMGOLD* IMPACT Silver Imperial Metal Integra Res Integra Res* Irving Res* Ivanhoe Mines Ivanhoe Mines* Jaguar Mng Jaguar Mng* Karora Res* Kinross Gold Kinross Gold* Kootenay Silvr* Kore Mining * Kuya Silver* Labrador IOR Labrador IOR* Leading Edge* Liberty Gold* Lithium Corp* Loncor Res Lundin Gold Lundin Mng Lundin Mng* MAG Silver Mako Mining Manganese X Manganese X* Mason Graphite* McEwen Mng McEwen Mng* Mega Uranium Mega Uranium* Millennial Pr Millennial Pr* Minaurum Gold Minaurum Gold* Minera Alamos Minera Alamos * Monarch Mining NEO Battery* New Found Gold New Gold New Gold* New Pac Metals New Pac Metals* Newcore Gold Newlox Gold

Nexa Resources* Nexgen Energy* NextSource Mat Norsemont Cap Nouveau Monde Nouveau Monde* Nrthn Superior* Oceanic Iron O* Oceanus Res Orla Mining Oroco Res Oroco Res* Osino Res Osino Res* Osisko Gold* Pan Am Silver Pan Am Silver* Perpetua Res Perpetua Res* Power Metals Prime Mining Puma Expl Pure Energy* Pure Gold Mg* Reyna Silver* Rio Tinto* Riverside Res* Rokmaster Res RosCan Gold Rupert Res Sabina Gd&Slvr Sabina Gd&Slvr* Seabridge Gld Seabridge Gld* Sherritt Intl Sibanye-Stillw* Sidney Resrces* Sierra Metals Sierra Metals* Silver Dollar* Silver Hammer Silver One Silver One* Silver Viper* Silvercorp Met Silvercorp Met* SilverCrest SilverCrest* Skeena Res

Skyharbour Res* Sokoman Min Sokoman Min* Solaris Res Southern Copp* Southern Silvr Southern Silvr* Spanish Mtn Gd* Spearmint Res Starr Peak* Strikepoint Gd* Strongbow Expl Summa Silver Summa Silver* Sun Summit Surge Copper Talon Metals Tartisan Nick Taseko Mines Taseko Mines* Tier One Silv Torex Gold Torex Gold* Treasury Metal Treasury Metal* Trilogy Mtls Trilogy Mtls* U.S. Gold* Ur-Energy Ur-Energy* Uranium Roylty* Victoria Gold Victoria Gold* Vista Gold* Wallbridge Mng Wallbridge Mng* Wesdome Gold Wesdome Gold* Western Copper* Western Mag Western Mag* Western U&V Western U&V* Wheaton Prec Wheaton Prec* Winston Res

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

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LEGEND

STAFF INVESTMENT POLICY

A – Australian Securities Exchange C – Canadian Stock Exchange L – London Stock Exchange N – New York Stock Exchange O – U.S. over-the-counter Q – NASDAQ or U.S. OTC T – Toronto Stock Exchange V – TSX Venture Exchange X – NYSE American * – Denotes price in U.S.$

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

JULY 25 — AUGUST 7, 2022 / THE NORTHERN MINER

MARKET NEWS

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: JULY 11 – 15, 2022 (100s) Stock

Exc Volume

Week High

Low

Last Change

12-month High Low

A 1111 Explor C 1844 Resources V 1911 Gold V 1911 Gold* O 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 V AEX Gold V Affinity Metal* O African Energy* O African Gold* 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 V Alianza Min* O Alien Metals* O All American* O Allegiant Gold V Allegiant Gold* O Alliance Mng V Alliance Res* D Allied Copper* O Allied Copper V Alma Gold C Almaden Min* X Almaden Min T Almadex Min* O Almadex Min V Almonty Ind * O Almonty Ind T Aloro Mining* O Aloro Mining V Alpha Copper C Alpha Lithium V Alpha Lithium* O Alphamin Res * O Alphamin Res V Altai Resource V Altai Resource* O 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 American Creek* O American Creek V American CuMo V American CuMo* O American Eagle V American Lith V American Lith* O 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 AMV Capital V Anaconda Mng T Anacortes Mg V Andean Prec* O Andean Prec V 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

11 52 137 65 40 140 167 53 65 135 165 160 475 20 83 2274 1381 0 0 217 4 440 66 1148 720 478 15 315 173 100 46 17 1 134 1 0 253 5755 13311 3 8 226 194 75 4629 31841 23319 113 4 110 369 2694 11174 103 73 232 42542 58 171 0 2365 31 301 57 2227 127 131 103 122 89 10 4 450 212 112 1636 1732 12 50 44 194 820 833 271 240 0 0 28 17 109 722 387 231 1324 0 2 1 10 989 570 17 339518 720 8 308 546 400 51 72 1559 1081 369 372 736 36 30 2611 1025 941 332 1100 322 269 110 383 187 0 0 203 147 28 55 807 2079 0 3 66 32 1672 10 1 14922 512 200 16 11 33 57 10 0 4 159 189 0 753 3 116 241 11061

WWW.NORTHERNMINER.COM

0.06 0.00 0.06 + 0.01 0.15 0.05 0.06 0.00 0.06 - 0.01 0.11 0.04 0.16 0.14 0.14 - 0.02 0.43 0.13 0.12 0.00 0.11 - 0.01 0.34 0.10 0.02 0.02 0.02 unch 0.00 0.09 0.02 0.04 0.04 0.04 + 0.01 0.14 0.04 0.06 0.05 0.05 - 0.01 0.16 0.05 0.02 0.01 0.01 - 0.00 0.07 0.01 0.02 0.00 0.02 unch 0.00 0.08 0.02 0.05 0.04 0.04 - 0.00 0.13 0.04 0.07 0.06 0.06 unch 0.00 0.16 0.05 0.06 0.06 0.06 - 0.01 0.15 0.05 0.05 0.04 0.04 + 0.00 0.12 0.04 0.03 0.00 0.03 + 0.00 0.05 0.02 0.04 0.00 0.04 unch 0.00 0.07 0.03 0.27 0.22 0.23 - 0.03 0.56 0.22 0.22 0.16 0.17 - 0.03 0.46 0.16 0.00 0.00 0.30 unch 0.00 0.45 0.30 0.00 0.00 0.18 unch 0.00 0.83 0.17 0.81 0.65 0.69 - 0.06 1.44 0.65 0.06 0.00 0.06 unch 0.00 0.10 0.05 0.05 0.04 0.04 - 0.01 0.08 0.03 0.01 0.00 0.01 unch 0.00 0.02 0.01 0.03 0.00 0.02 unch 0.00 0.08 0.02 0.10 0.07 0.08 - 0.02 2.09 0.07 0.45 0.36 0.38 - 0.06 1.10 0.36 0.32 0.27 0.28 - 0.03 0.87 0.27 0.04 0.00 0.04 - 0.01 0.12 0.03 0.66 0.56 0.66 + 0.03 0.82 0.44 0.04 0.04 0.04 unch 0.00 0.13 0.04 0.04 0.04 0.04 - 0.01 0.17 0.01 0.15 0.14 0.14 - 0.01 0.24 0.05 0.19 0.00 0.19 unch 0.00 0.24 0.05 0.20 0.17 0.20 - 0.01 0.57 0.17 0.00 0.00 0.05 unch 0.00 0.15 0.04 12.50 0.00 12.50 - 0.85 21.45 12.50 0.18 0.14 0.16 - 0.02 0.50 0.14 59.77 54.84 55.53 - 3.00 84.66 55.10 45.93 41.71 42.61 - 2.56 67.14 41.71 0.19 0.00 0.19 + 0.01 0.35 0.15 0.19 0.19 0.19 + 0.02 1.00 0.12 0.17 0.11 0.13 - 0.01 0.78 0.08 0.36 0.35 0.36 - 0.02 0.52 0.20 0.02 0.00 0.02 + 0.01 0.02 0.01 9.69 8.93 9.19 - 0.17 11.61 8.30 7.49 6.84 7.06 - 0.16 9.22 6.51 44.38 39.57 43.06 - 1.77 98.09 31.00 0.65 0.00 0.63 - 0.07 1.13 0.53 0.51 0.00 0.45 - 0.04 0.88 0.40 0.10 0.09 0.09 - 0.01 0.49 0.06 0.10 0.07 0.08 - 0.00 0.51 0.06 0.58 0.50 0.54 + 0.01 2.86 0.46 0.45 0.39 0.42 - 0.01 2.31 0.36 0.06 0.00 0.06 + 0.01 0.13 0.04 0.04 0.03 0.04 + 0.01 0.10 0.03 0.01 0.00 0.00 - 0.01 0.03 0.00 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.28 0.00 0.28 unch 0.00 0.58 0.26 0.22 0.20 0.22 - 0.01 0.45 0.19 0.00 0.00 0.15 unch 0.00 1.04 0.14 21.19 19.38 20.85 + 0.79 21.24 6.62 0.08 0.06 0.07 - 0.00 0.26 0.06 0.11 0.00 0.07 - 0.04 0.41 0.09 0.20 0.00 0.17 - 0.03 2.25 0.15 0.24 0.21 0.21 - 0.03 0.49 0.21 0.33 0.00 0.28 - 0.05 0.62 0.27 0.21 0.18 0.18 - 0.02 0.26 0.15 0.27 0.24 0.24 - 0.04 0.33 0.21 0.67 0.62 0.65 - 0.01 0.87 0.60 0.88 0.81 0.85 + 0.03 1.10 0.77 0.01 0.01 0.01 unch 0.00 0.13 0.01 0.03 0.00 0.03 unch 0.00 0.08 0.02 0.42 0.37 0.39 + 0.04 1.09 0.18 0.83 0.78 0.79 - 0.03 1.69 0.45 0.45 0.35 0.40 - 0.05 0.90 0.25 0.55 0.46 0.52 - 0.03 1.17 0.46 0.71 0.61 0.67 - 0.05 1.46 0.61 0.08 0.00 0.08 + 0.02 0.17 0.06 0.04 0.04 0.04 unch 0.00 0.11 0.04 0.02 0.02 0.02 unch 0.00 0.13 0.02 0.02 0.00 0.02 unch 0.00 0.19 0.02 0.15 0.12 0.12 - 0.00 0.61 0.12 0.19 0.16 0.16 unch 0.00 0.78 0.16 0.12 0.07 0.08 - 0.04 0.29 0.07 0.15 0.10 0.13 - 0.04 0.37 0.10 0.00 0.00 0.07 unch 0.00 0.25 0.03 0.00 0.00 0.10 unch 0.00 0.17 0.09 0.18 0.00 0.18 - 0.02 0.42 0.17 0.14 0.13 0.14 - 0.01 0.32 0.13 13.03 11.90 12.81 - 0.19 20.36 11.56 16.82 15.63 16.70 - 0.13 25.71 14.92 0.19 0.15 0.15 - 0.04 0.43 0.15 0.14 0.10 0.12 - 0.03 0.37 0.12 0.05 0.01 0.02 + 0.01 0.11 0.01 0.00 0.00 0.02 unch 0.00 0.03 0.02 0.67 0.00 0.67 unch 0.00 1.48 0.65 0.60 0.56 0.59 + 0.05 1.11 0.42 3.94 0.00 3.76 - 0.48 6.99 3.71 0.04 0.03 0.03 - 0.01 0.15 0.03 0.04 0.02 0.03 - 0.00 0.12 0.02 0.06 0.00 0.05 - 0.01 0.10 0.04 0.00 0.00 0.00 + 0.00 0.00 0.00 0.11 0.10 0.10 unch 0.00 0.15 0.09 0.09 0.08 0.09 - 0.00 0.12 0.07 0.10 0.08 0.09 - 0.01 0.21 0.08 0.13 0.11 0.12 unch 0.00 0.24 0.11 0.03 0.00 0.03 - 0.01 0.07 0.03 0.02 0.02 0.02 - 0.00 0.05 0.02 0.04 0.00 0.04 - 0.01 0.17 0.03 1.80 1.56 1.61 - 0.25 6.25 1.53 1.42 1.20 1.24 - 0.19 5.00 1.20 0.40 0.35 0.38 - 0.01 1.17 0.35 0.52 0.46 0.50 - 0.03 1.48 0.46 0.47 0.33 0.45 + 0.09 1.40 0.33 0.18 0.14 0.17 - 0.01 0.42 0.11 0.03 0.00 0.03 - 0.00 0.29 0.02 0.65 0.52 0.54 - 0.11 1.64 0.52 0.83 0.68 0.70 - 0.14 2.02 0.68 1.22 1.09 1.13 - 0.09 2.01 1.09 0.94 0.82 0.85 - 0.09 1.66 0.82 0.67 0.53 0.58 - 0.07 1.37 0.52 0.87 0.73 0.76 - 0.09 1.74 0.54 1.63 1.45 1.50 - 0.08 3.36 1.45 1.24 1.12 1.18 - 0.06 2.68 1.12 0.19 0.15 0.17 + 0.01 0.80 0.15 0.24 0.20 0.23 + 0.03 0.95 0.20 0.00 0.00 0.05 unch 0.00 0.08 0.04 0.00 0.00 0.10 unch 0.00 0.15 0.10 0.46 0.00 0.46 + 0.10 0.94 0.32 0.93 0.00 0.93 + 0.13 2.50 0.78 0.82 0.77 0.78 - 0.01 1.83 0.69 1.08 1.00 1.03 + 0.03 2.30 0.90 0.07 0.05 0.05 - 0.01 0.18 0.05 0.08 0.06 0.07 - 0.02 0.23 0.06 0.00 0.00 0.17 unch 0.00 0.35 0.15 0.09 0.08 0.08 - 0.01 0.13 0.04 0.12 0.10 0.11 - 0.01 0.17 0.05 32.73 0.00 30.60 - 3.63 55.61 29.65 16.28 14.76 15.12 - 1.80 27.80 14.76 2.50 0.00 2.29 + 0.03 3.85 1.95 16.75 16.75 16.75 unch 0.00 27.20 15.31 15.33 13.47 13.74 - 1.14 26.96 13.64 0.07 0.06 0.06 - 0.01 0.30 0.06 0.05 0.00 0.05 - 0.00 0.24 0.05 0.87 0.79 0.85 + 0.07 1.10 0.56 1.11 1.03 1.10 + 0.12 1.33 0.69 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.03 0.00 0.03 unch 0.00 0.05 0.03 0.14 0.00 0.14 + 0.02 0.25 0.09 0.00 0.00 0.18 unch 0.00 0.18 0.18 13.39 11.69 11.69 - 1.70 23.45 11.79 0.06 0.04 0.04 - 0.00 0.13 0.01 0.06 0.00 0.06 unch 0.00 0.09 0.04 0.00 0.00 0.11 unch 0.00 0.14 0.09 0.21 0.17 0.19 - 0.02 0.99 0.18 0.16 0.00 0.14 - 0.02 1.00 0.13 0.29 0.21 0.25 - 0.01 0.87 0.21 0.37 0.28 0.32 - 0.02 1.02 0.28 0.00 0.00 0.00 + 0.00 0.03 0.00

(100s) Stock

Exc Volume

Arbor Metals V 37 Arch Resources* N 2330 Archer Explor C 51 Archon Mineral V 3 Arcland Res V 0 ArcPacific Res V 88 ArcPacific Res* O 1 Arctic Star V 3585 Arctic Star* O 261 Arcus Dev Grp V 200 Arcwest Explor V 0 Arena Min V 1269 Arena Min* O 429 Argentina Lith* O 379 Argentina Lith V 250 Argentum Silvr V 11 Argentum Silvr* O 0 Argo Gold C 27 Argonaut Gold* O 808 Argonaut Gold T 12608 Arianne Phosph V 732 Arianne Phosph* O 1040 Aris Gold T 271 Arizona Gold* O 285 Arizona Gold T 2101 Arizona Metals V 972 Arizona Metals* O 720 Arizona Silver* O 201 Arizona Silver V 241 Armor Min V 0 Armor Min* O 20 Artemis Gold V 318 Artemis Gold* O 74 Asante Gold* O 2 Asante Gold C 107 Asbestos Corp V 0 Ascendant Res* O 50 Ascendant Res T 225 Ascot Res T 3027 Ascot Res * O 1527 AsiaBaseMetals V 1 Aston Bay* O 112 Aston Bay V 90 ATAC Res* O 957 ATAC Res V 757 Atacama Cop V 1 Atalaya Mining T 64 Athabasca Min* O 73 Athabasca Min V 158 Athena Gold* O 8 Athena C 4 Atico Mining* O 101 Atico Mining V 158 Atlas Salt* O 140 Atlas Salt V 3246 Aton Resources V 16 Augusta Gold* O 355 Augusta Gold T 258 Aura Minerals T 60 Aura Minerals* O 0 Aurania Res* O 69 Aurania Res V 132 Aurcana Silver V 6178 Aurcana Silver* O 2163 AurCrest Gold V 0 Aurelius Min* O 21 Aurelius Min V 58 Aurion Res * O 99 Aurion Res V 223 Aurora Royal V 0 Aurwest Res C 573 AURYN Mining* O 5 Aust Mines* O 58 Austin Res V 0 Austral Gold* O 81 Austral Gold V 18 Auxico Res* O 6 Auxico Res C 149 Avalon Advance* O 320 Avalon Advance T 1544 Avarone Metals* O 2 Avidian Gold* O 50 Avidian Gold V 117 Avino Silver* X 1691 Avino Silver T 102 Avrupa Min V 585 Avrupa Min* O 12 Awale Res V 4 Axmin Inc V 25 Axmin Inc* O 100 Aya Gold* O 30 Azarga Metals* O 104 Azarga Metals V 16 Azimut Explor* O 22 Azimut Explor V 141 Azincourt Ener* O 1604 Azincourt Ener V 2944 Aztec Minerals V 56 Aztec Minerals* O 11 Azucar Min V 105 Azucar Min* O 127

Week High

Low

Last Change

12-month High Low

2.52 2.30 2.37 + 0.02 2.85 1.70 145.68 129.30 140.06 + 1.26 183.53 53.42 0.30 0.25 0.27 - 0.03 1.25 0.13 0.30 0.00 0.17 - 0.02 0.33 0.17 0.00 0.00 0.13 unch 0.00 0.38 0.06 0.05 0.04 0.05 + 0.01 0.09 0.04 0.03 0.03 0.03 unch 0.00 0.13 0.02 0.10 0.08 0.09 + 0.01 0.16 0.05 0.07 0.06 0.07 + 0.00 0.12 0.04 0.03 0.00 0.03 unch 0.00 0.04 0.03 0.00 0.00 0.06 unch 0.00 0.12 0.06 0.45 0.38 0.42 unch 0.00 0.68 0.13 0.35 0.30 0.31 - 0.01 0.60 0.09 0.21 0.18 0.19 - 0.02 0.77 0.11 0.27 0.23 0.26 - 0.02 0.96 0.14 0.10 0.00 0.10 + 0.03 0.22 0.07 0.00 0.00 0.01 unch 0.00 0.21 0.01 0.10 0.00 0.09 - 0.01 0.20 0.06 0.40 0.30 0.32 - 0.04 3.23 0.31 0.51 0.41 0.41 - 0.06 4.09 0.41 0.48 0.40 0.42 - 0.04 0.82 0.29 0.37 0.30 0.32 - 0.03 0.65 0.23 1.90 1.58 1.60 - 0.24 2.25 1.21 0.04 0.03 0.04 - 0.00 0.10 0.03 0.05 0.04 0.04 - 0.01 0.13 0.04 3.99 3.46 3.82 - 0.07 6.98 3.05 3.10 2.66 2.91 - 0.09 5.60 2.39 0.18 0.15 0.18 + 0.02 0.48 0.13 0.25 0.00 0.23 + 0.01 0.60 0.17 0.00 0.00 0.61 unch 0.00 0.87 0.48 0.40 0.40 0.40 unch 0.00 0.48 0.37 4.78 3.70 3.80 - 0.82 7.93 3.77 3.64 2.81 2.93 - 0.69 6.23 2.88 1.14 0.00 1.01 + 0.01 1.80 0.29 1.49 1.21 1.28 - 0.24 2.29 0.34 0.00 0.00 0.99 unch 0.00 1.00 0.50 0.14 0.14 0.14 unch 0.00 0.22 0.12 0.18 0.16 0.18 - 0.01 0.29 0.16 0.43 0.32 0.37 - 0.04 1.41 0.33 0.33 0.24 0.27 - 0.04 1.18 0.25 0.17 0.00 0.17 + 0.01 0.24 0.13 0.02 0.02 0.02 - 0.01 0.06 0.02 0.03 0.00 0.03 + 0.01 0.09 0.03 0.08 0.07 0.08 + 0.00 0.13 0.06 0.11 0.10 0.10 - 0.01 0.16 0.09 0.18 0.00 0.18 - 0.02 0.65 0.13 4.67 3.91 4.01 - 0.74 8.48 3.91 0.22 0.21 0.22 + 0.01 0.54 0.12 0.30 0.00 0.28 - 0.01 0.70 0.15 0.06 0.00 0.06 unch 0.00 0.21 0.05 0.07 0.07 0.07 unch 0.00 0.30 0.05 0.26 0.22 0.22 - 0.02 0.53 0.20 0.35 0.29 0.30 - 0.02 0.65 0.27 2.50 1.95 2.35 + 0.43 2.50 0.48 3.22 2.45 3.00 + 0.51 3.22 0.58 0.36 0.00 0.36 + 0.01 0.69 0.16 1.15 1.00 1.09 + 0.04 1.94 0.71 1.52 1.30 1.39 - 0.02 2.40 0.89 8.03 6.49 6.96 - 0.90 16.76 6.49 6.15 0.00 5.53 - 0.32 13.90 5.53 0.57 0.49 0.51 - 0.07 2.82 0.42 0.77 0.64 0.66 - 0.07 3.43 0.52 0.03 0.02 0.03 unch 0.00 0.95 0.02 0.03 0.01 0.02 - 0.01 0.76 0.02 0.00 0.00 0.16 unch 0.00 0.39 0.12 0.08 0.08 0.08 + 0.01 0.40 0.07 0.10 0.00 0.10 + 0.01 0.52 0.09 0.48 0.41 0.43 - 0.03 1.09 0.41 0.62 0.55 0.55 - 0.05 1.36 0.56 0.00 0.00 0.02 unch 0.00 0.07 0.02 0.07 0.06 0.07 unch 0.00 0.18 0.06 0.56 0.00 0.56 + 0.01 1.05 0.50 0.06 0.05 0.06 + 0.01 0.27 0.04 0.00 0.00 0.04 unch 0.00 0.09 0.04 0.04 0.03 0.04 - 0.01 0.13 0.03 0.04 0.00 0.04 unch 0.00 0.15 0.04 0.63 0.60 0.61 - 0.02 1.68 0.25 0.82 0.78 0.79 - 0.02 1.85 0.50 0.09 0.08 0.08 - 0.00 0.19 0.07 0.12 0.10 0.10 - 0.01 0.24 0.09 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.03 0.02 0.03 + 0.00 0.12 0.02 0.04 0.00 0.04 unch 0.00 0.15 0.03 0.58 0.49 0.52 - 0.06 1.13 0.49 0.74 0.64 0.67 - 0.07 1.42 0.64 0.04 0.00 0.04 + 0.01 0.11 0.03 0.03 0.02 0.02 - 0.00 0.09 0.02 0.18 0.00 0.18 + 0.02 0.56 0.16 0.05 0.00 0.04 - 0.02 0.08 0.03 0.04 0.04 0.04 unch 0.00 0.06 0.02 4.88 3.86 3.98 - 0.67 9.44 4.00 0.02 0.01 0.01 - 0.00 0.11 0.01 0.02 0.00 0.02 - 0.01 0.13 0.02 0.69 0.60 0.60 - 0.09 1.93 0.61 0.92 0.80 0.82 - 0.08 2.47 0.80 0.04 0.03 0.04 - 0.00 0.19 0.03 0.06 0.05 0.05 - 0.01 0.29 0.05 0.28 0.00 0.24 - 0.04 0.38 0.22 0.21 0.20 0.21 + 0.01 0.30 0.16 0.08 0.00 0.06 - 0.02 0.19 0.06 0.07 0.00 0.05 - 0.01 0.15 0.05

B B2Gold Corp T 11167 B2Gold Corp* X 69172 Bald Eagle V 337 Balto Res V 1 Bam Bam Res* O 16 Bam Bam Res C 195 Bannerman Egy* O 3674 Banyan Gold V 640 Banyan Gold* O 158 Barksdale Res* O 131 Barksdale Res V 220 Baroyeca Gold V 105 Baroyeca Gold* O 156 Barrick Gold* N 137372 Barrick Gold T 25019 Barsele Min* O 4 Barsele Min V 37 Baru Gold V 218 Baru Gold* O 155 Baselode Egy* O 484 Baselode Egy V 551 Basin Uranium C 127 Batero Gold V 347 Bathurst Met V 0 Bathurst Metal* O 35 Battery Min V 202 Bayhorse Silvr* O 221 Bayhorse Silvr V 1848 BC Moly V 0 BCM Res V 257 BCM Res* O 200 BE Res V 0 Bear Creek Mng V 219 Bear Creek Mng* O 298 Bearclaw Cap V 0 Bearing Lith V 307 Bearing Lith* O 45 Beauce Gold V 89 Bell Copper V 54 Bell Copper* O 33 Belmont Res V 1063 Belo Sun Mng T 337 Belo Sun Mng* O 1674 BeMetals * O 122 BeMetals V 118 Benchmark Met* O 137 Benchmark Met V 779 Benjamin Hill C 617 Benjamin Hill* O 247 Benton Res* O 128 Benton Res V 316 Benz Mining* O 5 Benz Mining V 55 Bessor Min V 212 Bird River Res C 32 Bitterroot Res* O 104 Bitterroot Res V 28

4.39 4.06 4.13 - 0.21 6.39 4.10 3.39 3.10 3.18 - 0.15 5.07 3.10 0.10 0.08 0.09 - 0.02 0.12 0.04 0.06 0.00 0.06 unch 0.00 0.20 0.04 0.21 0.17 0.17 unch 0.00 0.40 0.02 0.29 0.00 0.24 + 0.02 2.30 0.20 0.13 0.11 0.12 + 0.00 0.33 0.09 0.45 0.36 0.39 unch 0.00 0.57 0.23 0.34 0.29 0.29 - 0.02 0.46 0.19 0.42 0.35 0.35 - 0.06 0.54 0.22 0.52 0.00 0.47 - 0.06 0.70 0.26 0.18 0.00 0.14 - 0.02 0.50 0.13 0.14 0.10 0.11 - 0.02 0.49 0.10 17.27 15.27 15.66 - 1.52 26.07 15.27 22.49 20.07 20.40 - 1.87 33.50 20.14 0.24 0.23 0.24 unch 0.00 0.57 0.18 0.30 0.00 0.29 - 0.01 0.73 0.23 0.04 0.00 0.04 unch 0.00 0.13 0.03 0.03 0.03 0.03 + 0.00 0.10 0.03 0.59 0.50 0.56 - 0.05 1.23 0.32 0.77 0.67 0.73 - 0.05 1.54 0.40 0.24 0.20 0.20 - 0.02 1.08 0.19 0.05 0.00 0.05 + 0.01 0.12 0.04 0.00 0.00 0.04 unch 0.00 0.15 0.03 0.03 0.03 0.03 unch 0.00 0.53 0.03 0.19 0.17 0.17 - 0.02 0.79 0.17 0.04 0.03 0.03 - 0.00 0.20 0.03 0.05 0.04 0.05 + 0.01 0.19 0.04 0.00 0.00 0.18 unch 0.00 0.40 0.08 0.17 0.15 0.16 - 0.01 0.35 0.10 0.13 0.12 0.13 - 0.02 0.34 0.07 0.00 0.00 0.20 unch 0.00 0.20 0.20 0.73 0.63 0.68 - 0.06 1.96 0.65 0.57 0.49 0.50 - 0.04 1.60 0.50 0.00 0.00 0.20 unch 0.00 0.25 0.18 0.25 0.00 0.22 - 0.03 0.44 0.15 0.19 0.16 0.17 - 0.03 0.35 0.12 0.08 0.07 0.07 - 0.02 0.23 0.07 0.26 0.00 0.21 - 0.05 0.73 0.11 0.19 0.16 0.17 unch 0.00 0.58 0.09 0.07 0.06 0.07 unch 0.00 0.11 0.05 0.27 0.22 0.25 + 0.02 0.88 0.22 0.20 0.18 0.20 + 0.01 0.73 0.18 0.11 0.08 0.11 + 0.03 0.30 0.08 0.15 0.00 0.15 + 0.01 0.38 0.13 0.47 0.40 0.43 + 0.02 0.97 0.40 0.60 0.52 0.56 + 0.01 1.20 0.52 0.15 0.14 0.14 - 0.02 0.67 0.14 0.13 0.10 0.11 - 0.01 0.50 0.10 0.08 0.07 0.07 - 0.01 0.19 0.07 0.11 0.08 0.10 - 0.01 0.24 0.08 0.28 0.28 0.28 unch 0.00 0.65 0.27 0.39 0.00 0.36 + 0.02 0.84 0.32 0.05 0.00 0.05 + 0.01 0.09 0.02 0.17 0.00 0.17 + 0.07 0.22 0.11 0.06 0.05 0.05 + 0.00 0.13 0.04 0.09 0.00 0.08 + 0.01 0.16 0.06

(100s) Stock

Exc Volume

Week High

Low

Last Change

12-month High Low

Black Hills* N 1159 Black Iron* O 266 Black Iron T 703 Black Mammoth* O 1 Black Mammoth V 0 Black Mountain V 0 Black Mountain* O 17 Black Tusk Res C 2007 Black Tusk Res* O 209 Blackrock Silv V 650 Blackrock Silv* O 1144 Blackwolf Cop V 129 Blackwolf Cop* O 6 Blind Creek V 96 Blue Lagoon* O 463 Blue Lagoon C 382 Blue Moon V 347 Blue Moon* O 75 Blue River Res V 58 Blue River Res* O 119 Blue Sky Uran* O 274 Blue Sky Uran V 659 Blue Star Gold V 54 Blue Thunder V 2291 BlueBird Batt* O 5 BlueBird Batt V 35 Bluejay Mining* O 846 Bluestone Res V 174 Bluestone Res* O 40 BMEX Gold V 332 Bold Ventures V 7 Bolt Metals* O 1 Bolt Metals C 30 Bonanza Gold* O 4007 Bond Resources C 0 BonTerra Res V 391 Boreal Metals V 42 Boreal Metals* O 64 Borneo Res Inv* O 55777 Boundary Gold* O 5 Boundary Gold V 24 Brascan Gold C 330 Bravada Gold V 76 Bravada Gold* O 205 Braveheart Res V 100 Braveheart Res* O 306 Bravo Multinat* O 0 Brazil Min* O 225110 Brigadier Gold* O 20 Brigadier Gold V 188 BrightRock* O 433 Brixton Metals* O 1087 Brixton Metals V 3373 Brookmount Exp* O 551 Brunswick Expl V 127 Bryn Res* O 2 BTU Metals* O 11 BTU Metals V 427 Buenaventura* N 5078 Buffalo Coal * O 4 Buffalo Coal V 786 Bullet Explor V 1 Bunker Hill C 295 Burrell Res C 6 Bushveld Min* O 12 BWR Explor V 459

72.68 70.00 72.38 + 1.24 80.95 61.95 0.05 0.05 0.05 - 0.01 0.37 0.05 0.07 0.06 0.07 - 0.01 0.47 0.06 0.14 0.14 0.14 unch 0.00 0.18 0.06 0.00 0.00 0.11 unch 0.00 0.22 0.08 0.00 0.00 0.30 unch 0.00 0.58 0.25 0.21 0.20 0.21 + 0.01 0.51 0.15 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.02 0.01 0.02 + 0.01 0.03 0.01 0.63 0.54 0.58 unch 0.00 1.30 0.54 0.49 0.41 0.46 + 0.01 1.08 0.41 0.38 0.35 0.36 - 0.02 1.10 0.35 0.30 0.00 0.28 - 0.02 1.00 0.25 0.04 0.00 0.04 - 0.01 0.12 0.03 0.28 0.23 0.26 - 0.00 0.59 0.23 0.36 0.30 0.35 + 0.02 0.73 0.30 0.03 0.00 0.03 unch 0.00 0.06 0.02 0.02 0.02 0.02 - 0.01 0.05 0.01 0.02 0.00 0.02 unch 0.00 0.03 0.01 0.02 0.01 0.01 - 0.00 0.02 0.00 0.12 0.09 0.11 + 0.01 0.29 0.09 0.16 0.12 0.15 + 0.03 0.37 0.12 0.60 0.00 0.60 unch 0.00 0.79 0.31 0.02 0.00 0.01 - 0.01 0.06 0.01 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.03 0.00 0.03 unch 0.00 0.10 0.03 0.06 0.05 0.06 - 0.01 0.24 0.05 0.82 0.72 0.82 + 0.02 2.30 0.72 0.63 0.59 0.61 - 0.01 1.79 0.59 0.08 0.05 0.05 - 0.02 0.22 0.05 0.10 0.00 0.09 - 0.01 0.17 0.07 0.09 0.09 0.09 + 0.01 0.33 0.07 0.12 0.11 0.12 + 0.01 0.43 0.10 0.00 0.00 0.00 - 0.00 0.04 0.00 0.00 0.00 0.02 unch 0.00 0.10 0.01 0.90 0.69 0.69 - 0.21 1.49 0.72 0.08 0.00 0.08 + 0.01 0.30 0.06 0.06 0.04 0.05 - 0.01 0.23 0.04 0.00 0.00 0.00 - 0.00 0.02 0.00 0.02 0.02 0.02 unch 0.00 0.03 0.02 0.03 0.00 0.03 - 0.01 0.04 0.03 0.06 0.04 0.05 - 0.02 0.69 0.04 0.04 0.00 0.04 + 0.01 0.07 0.03 0.03 0.03 0.03 + 0.00 0.06 0.02 0.08 0.00 0.08 + 0.01 0.12 0.07 0.06 0.05 0.06 - 0.00 0.09 0.05 0.00 0.00 0.04 unch 0.00 0.18 0.02 0.03 0.01 0.02 + 0.00 0.03 0.00 0.01 0.01 0.01 + 0.00 0.08 0.01 0.02 0.02 0.02 + 0.01 0.09 0.01 0.20 0.18 0.19 + 0.00 0.21 0.02 0.11 0.09 0.10 + 0.00 0.20 0.08 0.15 0.12 0.13 - 0.01 0.24 0.11 0.05 0.03 0.04 - 0.01 0.76 0.02 0.25 0.00 0.23 + 0.01 0.29 0.11 0.01 0.00 0.01 unch 0.00 0.06 0.01 0.03 0.03 0.03 + 0.01 0.19 0.02 0.04 0.00 0.04 unch 0.00 0.15 0.03 6.34 5.66 5.94 - 0.32 12.35 5.68 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.02 0.00 0.02 unch 0.00 0.06 0.01 0.05 0.00 0.05 + 0.01 0.15 0.04 0.17 0.15 0.15 - 0.02 0.42 0.16 0.22 0.00 0.22 - 0.02 0.50 0.20 0.15 0.02 0.15 unch 0.00 0.21 0.02 0.03 0.00 0.03 - 0.01 0.06 0.02

C2C Gold* O C3 Metals V Cabral Gold* O Cabral Gold V Cadence Min* O Caledonia Mng* X Calibre Mng T Calibre Mng* O Califfi Cap V Callinex Mines* O Callinex Mines V Cameco Corp* N Cameco Corp T Camino Min V Camino Min* O Canada Carbon V Canada Carbon* O Canada Nickel V Canada Nickel* O Canada One V Canada Rare V Canada Rare* O Canada Silver V Canada Silver* O Canadian Metal* O Canadian Metal C Canadian Prem V Canadian Silv V Canagold Res T Canagold Res* O CanAlaska Uran V CanAlaska Uran* O Canasil Res V Candelaria Mg* O Candelaria Mg V Candente Coppr T Candente Gold* O Candente Gold V CANEX Metals * O CANEX Metals V CaNickel Mng V CaNickel Mng* O Canoe Mng Vent V Canstar Res V Canstar Res* O Canterra Min* O Canterra Min V Cantex Mn Dev* O Cantex Mn Dev V Canuc Res V Canuc Res* O Capella Min V Capella Min* O Capitan Mining V Capitan Mining* O Capstone Mng T Cariboo Rose V Carlin Gold V Carlyle Comm* O Carrara Explor C Cartier Iron C Cartier Res* O Cartier Res V Casa Minerals V Casa Minerals * O Cascada Silver C Cascadero Copp V Cassiar Gold V Cassius Vents V CAT Strategic C CAT Strategic* O CAVU Mining* O CAVU Mining C Cdn Goldcamps* O Cdn Goldcamps C Cdn Manganese Cdn Palladium* O Cdn Palladium C Centamin T Centerra Gold T Central Afric V Central Asia* O Central Iron V Centurion Mnls V Century Cobalt* O Century Global* O Century Global T Cerrado Gold V Cerro de Pasc C Cerro Grande C Cerro Mng* O Ceylon Graph V

0.12 0.08 0.08 - 0.05 0.33 0.08 0.07 0.06 0.06 + 0.01 0.25 0.05 0.20 0.17 0.18 - 0.01 0.52 0.17 0.25 0.22 0.24 unch 0.00 0.55 0.22 0.00 0.00 0.21 unch 0.00 0.40 0.21 10.99 9.97 10.36 - 0.25 18.23 9.97 1.01 0.85 0.97 + 0.08 1.81 0.84 0.78 0.66 0.75 + 0.07 1.56 0.64 0.00 0.00 0.12 unch 0.00 0.18 0.09 1.28 1.15 1.17 - 0.04 3.41 1.15 1.70 1.50 1.53 - 0.03 4.25 1.50 22.95 20.72 22.39 + 0.12 32.49 15.34 29.93 27.19 29.17 + 0.31 41.05 19.68 0.05 0.04 0.04 - 0.01 0.17 0.04 0.04 0.03 0.03 - 0.00 0.14 0.03 0.05 0.04 0.05 unch 0.00 0.18 0.04 0.04 0.03 0.03 - 0.00 0.14 0.01 1.86 1.56 1.58 - 0.17 4.01 1.41 1.43 1.18 1.21 - 0.14 3.19 1.01 0.00 0.00 0.12 unch 0.00 0.12 0.05 0.04 0.00 0.03 - 0.01 0.09 0.03 0.03 0.02 0.02 - 0.01 0.07 0.02 0.13 0.11 0.11 - 0.02 0.39 0.11 0.10 0.08 0.08 - 0.02 0.32 0.08 0.10 0.10 0.10 unch 0.00 0.23 0.00 0.12 0.09 0.12 + 0.03 0.30 0.09 0.34 0.00 0.34 + 0.04 0.63 0.27 0.03 0.00 0.02 - 0.02 0.08 0.03 0.29 0.28 0.28 - 0.01 0.70 0.25 0.22 0.21 0.21 - 0.01 0.55 0.19 0.40 0.27 0.36 + 0.08 0.84 0.27 0.30 0.21 0.28 + 0.06 0.67 0.21 0.06 0.00 0.06 - 0.01 0.16 0.05 0.08 0.08 0.08 unch 0.00 0.49 0.08 0.10 0.00 0.10 - 0.01 0.64 0.10 0.16 0.12 0.14 + 0.01 0.26 0.11 0.06 0.06 0.06 unch 0.00 0.12 0.04 0.10 0.09 0.09 unch 0.00 0.20 0.06 0.18 0.10 0.10 - 0.08 0.20 0.07 0.12 0.00 0.12 - 0.01 0.20 0.09 0.00 0.00 0.06 unch 0.00 0.23 0.06 0.06 0.06 0.06 unch 0.00 0.17 0.06 0.06 0.00 0.05 - 0.01 0.20 0.05 0.12 0.08 0.10 - 0.02 0.61 0.09 0.09 0.06 0.07 - 0.02 0.51 0.06 0.08 0.06 0.06 - 0.01 0.33 0.06 0.09 0.00 0.08 - 0.02 0.40 0.08 0.19 0.19 0.19 unch 0.00 0.44 0.19 0.31 0.00 0.25 - 0.01 0.59 0.23 0.07 0.00 0.07 unch 0.00 0.25 0.07 0.05 0.00 0.05 unch 0.00 0.20 0.05 0.05 0.00 0.05 - 0.01 0.12 0.04 0.04 0.04 0.04 + 0.01 0.10 0.01 0.30 0.00 0.29 - 0.01 0.74 0.18 0.26 0.20 0.25 + 0.04 0.65 0.13 2.83 2.25 2.40 - 0.50 7.79 2.27 0.00 0.00 0.05 unch 0.00 0.07 0.04 0.00 0.00 0.03 unch 0.00 0.06 0.02 0.04 0.04 0.04 unch 0.00 0.08 0.02 0.03 0.02 0.03 + 0.01 0.03 0.02 0.07 0.05 0.06 - 0.01 0.15 0.02 0.13 0.06 0.10 - 0.00 0.23 0.01 0.11 0.09 0.10 - 0.01 0.27 0.09 0.10 0.00 0.08 - 0.03 0.27 0.07 0.13 0.13 0.13 + 0.05 0.22 0.08 0.04 0.03 0.04 unch 0.00 0.08 0.03 0.01 0.00 0.01 - 0.01 0.03 0.01 0.61 0.49 0.58 + 0.01 1.48 0.35 0.00 0.00 0.05 unch 0.00 0.17 0.05 0.03 0.02 0.02 unch 0.00 0.06 0.02 0.02 0.02 0.02 - 0.00 0.06 0.01 0.14 0.00 0.14 - 0.00 1.18 0.10 0.22 0.00 0.20 unch 0.00 0.70 0.15 0.00 0.00 0.46 unch 0.00 0.86 0.03 0.00 0.00 0.35 unch 0.00 1.40 0.34 0.24 0.15 0.24 + 0.03 0.50 0.10 0.06 0.04 0.04 - 0.01 0.11 0.04 0.07 0.05 0.06 - 0.01 0.14 0.05 1.24 1.15 1.15 - 0.10 1.89 1.15 8.06 7.33 7.73 - 0.01 13.52 7.33 0.07 0.00 0.06 + 0.01 0.23 0.04 2.57 2.57 2.57 unch 0.00 3.65 2.57 0.00 0.00 0.05 unch 0.00 0.08 0.04 0.00 0.00 0.14 unch 0.00 0.14 0.14 0.02 0.01 0.02 - 0.01 0.07 0.01 0.02 0.02 0.02 unch 0.00 0.33 0.02 0.12 0.00 0.12 unch 0.00 0.42 0.12 1.39 1.16 1.25 - 0.14 1.96 1.16 0.24 0.20 0.22 - 0.02 0.38 0.19 0.02 0.00 0.02 unch 0.00 0.02 0.01 0.07 0.07 0.07 unch 0.00 0.29 0.07 0.13 0.11 0.11 - 0.02 0.27 0.11

C 202 288 164 332 0 126 4505 1022 0 14 30 21501 5471 667 118 788 61 887 97 0 155 88 796 309 15 262 13 586 222 59 2477 1266 373 3 20 567 125 147 21 149 0 1 30 459 244 172 206 12 187 135 60 20 50 135 157 9838 0 0 50 988 266 164 401 44 4 221 37 727 0 963 173 1 26 0 1 92 713 729 84 3992 214 3 0 0 719 1 43 117 399 12 1 680

(100s) Stock

Exc Volume

Ceylon Graph* O 274 Chakana Copper V 133 Chakana Copper* O 149 Chalice Gold M* O 10 Champion Bear* O 30 Champion Bear V 0 Champion Iron* O 1193 Champion Iron T 2986 Chatham Rock V 127 Chatham Rock* O 20 Chesapeake Gld V 70 Chesapeake Gld* O 156 Chevron Corp* N 41709 Chiboug Ind Mn V 124 Chiboug Ind Mn* O 50 Chilean Metals V 375 Chilean Metals* O 57 China Gold Int T 21 Churchill Res V 0 Cipher Mining* D 1333 Clarity Gold* O 5 Clarity Gold C 135 Class 1 Nickel C 261 Clean Air Met V 1075 Clean Comm* O 0 Cleghorn Min V 0 Cleveland-Clif* N 81475 Cliffmont Res V 0 Clifton Mng* O 43 Clydesdale Res V 0 CMC Metals* O 762 CMC Metals V 1847 CMX Gold & Sil C 36 CNRP Mng C 248 Coast Copper V 143 Cobalt Block V 3 Cobalt Block* O 7 Coeur Mng* N 19759 Collective Mg* O 0 Colombia Crest V 689 Colombia Crest* O 52 Colonial Coal V 840 Comet Inds V 0 Commander Res V 22 Commander Res* O 43 Commerce Res V 312 Commerce Res* O 25 Compass Gold V 0 Comstock Mng* X 1401 Comstock Mtls V 0 Comstock Mtls * O 0 Condor Gold* O 14 Condor Gold T 6 Condor Res V 17 Condor Res* O 60 Conquest Res * O 175 Conquest Res V 642 Cons Uranium* O 107 Cons Uranium V 304 Cons Woodjam V 191 CONSOL Energy* N 14793 CONSOL Energy* N 4066 Constantine Mt* O 369 Constantine Mt V 143 Contact Gold* O 77 Contact Gold V 1168 CopAur Min V 314 CopAur Min* O 293 Copper Fox Mtl* O 63 Copper Fox Mtl V 212 Copper Lake Rs V 867 Copper Mtn Mng T 8714 Copper Mtn Mng* O 464 Copper One * O 4503 Copperbank Res C 279 Cordoba Mnls V 127 Cordoba Mnls* O 16 Core Assets C 236 Cornerstone Ca V 19 Cornerstone Ca* O 12 Corsa Coal * O 552 Corsa Coal V 391 Cortus Metals V 0 CoTec Holdings V 5 Crest Resource C 0 Crest Resource* O 0 Crestview Expl C 37 Critical Elem* O 112 Critical Elem V 597 Cross River* O 130 Cross River C 435 Crown Mining V 782 Crown Mining* O 200 Cruz Battery* O 223 Cruz Battery C 265 Currie Rose Rs V 222 CWN M’g Acq V 0 Cyntar Venture C 205 Cypress Dev* O 412 Cypress Dev V 336

Week High

Low

12-month

Last Change

High Low

0.10 0.08 0.09 - 0.02 0.22 0.08 0.12 0.00 0.12 - 0.01 0.45 0.11 0.09 0.08 0.09 - 0.01 0.38 0.09 2.70 2.38 2.59 - 0.22 7.69 2.38 0.10 0.10 0.10 unch 0.00 0.18 0.05 0.00 0.00 0.20 unch 0.00 0.25 0.08 3.27 3.06 3.19 - 0.20 6.02 2.94 4.35 3.99 4.13 - 0.30 7.59 3.71 0.23 0.18 0.19 - 0.04 0.46 0.09 0.16 0.15 0.15 - 0.02 0.26 0.08 2.19 1.86 2.02 - 0.06 4.56 1.96 1.68 1.48 1.66 + 0.08 3.66 1.50 142.85 132.54 137.65 - 5.12 182.40 92.86 0.12 0.00 0.12 unch 0.00 0.30 0.11 0.09 0.09 0.09 unch 0.00 0.19 0.09 0.11 0.10 0.10 - 0.01 0.30 0.10 0.09 0.07 0.07 - 0.01 0.23 0.07 3.61 3.20 3.39 - 0.15 5.45 3.02 0.00 0.00 0.16 unch 0.00 0.45 0.15 1.85 1.55 1.74 - 0.05 15.39 1.26 0.10 0.08 0.10 + 0.01 0.60 0.07 0.14 0.10 0.13 + 0.01 0.72 0.10 0.20 0.12 0.13 - 0.07 0.65 0.10 0.18 0.16 0.17 - 0.01 0.32 0.15 0.06 0.00 0.06 + 0.01 0.25 0.00 0.00 0.00 0.08 unch 0.00 0.17 0.08 15.83 14.32 14.99 - 0.48 34.04 14.32 0.00 0.00 0.10 unch 0.00 0.23 0.06 0.17 0.08 0.11 - 0.00 0.28 0.08 0.00 0.00 0.10 unch 0.00 0.10 0.05 0.13 0.07 0.10 - 0.01 0.21 0.03 0.14 0.11 0.12 - 0.01 0.25 0.08 0.11 0.09 0.09 - 0.01 0.12 0.05 0.08 0.00 0.08 unch 0.00 0.42 0.08 0.07 0.00 0.07 - 0.01 0.16 0.06 0.02 0.00 0.02 unch 0.00 0.07 0.02 0.02 0.00 0.01 - 0.00 0.05 0.01 2.98 2.63 2.75 - 0.07 8.54 2.63 0.00 0.00 2.77 unch 0.00 3.50 1.89 0.60 0.46 0.51 - 0.09 0.97 0.10 0.47 0.00 0.41 - 0.06 0.75 0.08 2.57 1.85 2.15 + 0.34 3.73 0.68 0.00 0.00 3.95 unch 0.00 4.00 2.90 0.10 0.00 0.09 - 0.02 0.20 0.08 0.08 0.06 0.06 + 0.00 0.16 0.06 0.19 0.00 0.17 - 0.02 0.32 0.17 0.14 0.13 0.13 - 0.01 0.25 0.13 0.00 0.00 0.10 unch 0.00 0.20 0.10 0.63 0.56 0.56 - 0.05 3.48 0.57 0.00 0.00 0.08 unch 0.00 0.11 0.06 0.00 0.00 0.06 unch 0.00 0.09 0.06 0.37 0.28 0.28 - 0.09 0.64 0.28 0.36 0.00 0.36 - 0.01 0.89 0.34 0.11 0.00 0.11 - 0.02 0.24 0.08 0.10 0.10 0.10 unch 0.00 0.19 0.01 0.02 0.02 0.02 unch 0.00 0.16 0.02 0.03 0.00 0.03 unch 0.00 0.20 0.03 1.39 1.20 1.26 - 0.13 2.67 1.16 1.80 1.57 1.66 - 0.06 3.29 1.51 0.07 0.00 0.07 - 0.01 0.18 0.07 17.59 15.67 17.58 + 1.39 24.21 10.41 58.39 48.77 57.02 + 6.94 59.38 17.04 0.24 0.18 0.22 + 0.01 0.60 0.17 0.32 0.00 0.26 - 0.01 0.77 0.22 0.03 0.02 0.02 + 0.00 0.08 0.02 0.04 0.00 0.04 unch 0.00 0.09 0.03 0.49 0.39 0.40 - 0.09 1.70 0.39 0.38 0.30 0.32 - 0.06 1.34 0.30 0.16 0.00 0.15 - 0.01 0.36 0.13 0.21 0.19 0.20 unch 0.00 0.45 0.18 0.10 0.08 0.08 - 0.01 0.21 0.04 1.66 1.35 1.45 - 0.24 4.38 1.38 1.35 1.04 1.12 - 0.20 3.45 1.04 0.02 0.02 0.02 + 0.01 0.20 0.01 0.53 0.42 0.45 - 0.06 1.00 0.35 0.73 0.00 0.73 + 0.23 0.85 0.35 0.54 0.00 0.54 + 0.16 0.67 0.01 0.65 0.51 0.52 - 0.10 0.88 0.07 3.27 2.90 3.14 - 0.06 5.28 2.90 2.50 2.20 2.35 - 0.15 4.10 0.65 0.23 0.21 0.21 - 0.02 0.87 0.18 0.31 0.26 0.27 - 0.04 1.10 0.24 0.00 0.00 0.05 unch 0.00 0.17 0.04 0.39 0.00 0.36 - 0.03 0.80 0.19 0.00 0.00 0.04 unch 0.00 0.16 0.04 0.00 0.00 0.10 unch 0.00 0.17 0.04 0.22 0.16 0.19 + 0.02 0.45 0.13 1.14 0.99 0.99 - 0.02 1.65 0.87 1.44 1.28 1.29 - 0.07 1.98 1.13 0.04 0.00 0.04 + 0.00 0.31 0.03 0.05 0.04 0.04 unch 0.00 0.21 0.04 0.05 0.00 0.04 - 0.02 0.19 0.04 0.04 0.03 0.03 - 0.01 0.16 0.03 0.11 0.08 0.10 - 0.00 0.27 0.06 0.14 0.10 0.13 unch 0.00 0.34 0.09 0.03 0.00 0.03 - 0.01 0.15 0.03 0.00 0.00 0.10 unch 0.00 0.10 0.07 0.36 0.33 0.36 + 0.01 0.99 0.32 0.92 0.79 0.82 - 0.08 2.13 0.76 1.18 1.04 1.07 - 0.11 2.61 0.94

D-F Dajin Lithium* O 51 Dajin Res V 10 Damara Gold* O 101 Damara Gold V 216 Danakali* O 84 Decade Res V 647 Decade Res* O 5 Deep-South Res* O 511 Deep-South Res V 369 DeepRock Min C 500 Defense Metals* O 306 Defense Metals V 234 Defiance Silvr V 1055 Defiance Silvr* O 750 Delrand Res V 1 Denarius Metal V 369 Denison Mines T 6258 Denison Mines* X 15635 Desert Gold* O 7 Desert Gold V 117 Desert Mtn Egy V 663 Diamante Min* O 1 Diamcor Mng V 494 Diamcor Mng* O 541 Diamond Fields V 154 Diamond Fields* O 23 Dios Expl V 789 Discovery Harb* O 355 Discovery Harb V 455 Discovery Silv V 1222 Discovery Silv* O 886 Discovery-Corp V 21 District Cop* O 1 District Cop V 42 District Metal* O 206 District Metal V 281 District Mines V 65 Dixie Gold V 98 DLP Resouces V 123 DLP Resouces* O 215 Dolly Vard Sil V 405 Dolly Vard Sil* O 362 Dore Copper V 239 Doubleview Gld V 2442 Doubleview Gld* O 128 DRDGOLD* N 694 Dundee Prec Mt T 1500 Durango Res* O 121 Durango Res V 63 DV Resources V 479 Dynacor Gld Mn T 92 Dynacor Gld Mn* O 10 DynaResource* O 6 Dynasty Gold V 43 Dynasty Gold* O 20 E2Gold Inc V 721 E2Gold Inc* O 221 E3 Metals* O 243

0.46 0.51 0.03 0.04 0.17 0.12 0.02 0.03 0.04 0.04 0.15 0.19 0.26 0.20 0.00 0.20 1.38 1.06 0.07 0.09 2.26 4.00 0.22 0.20 0.25 0.18 0.04 0.01 0.01 1.14 0.87 0.08 0.07 0.10 0.08 0.12 0.08 0.08 0.19 0.12 0.66 0.52 0.39 0.29 0.22 5.96 6.11 0.06 0.08 0.09 3.01 2.34 2.39 0.12 0.09 0.06 0.05 2.07

0.36 0.00 0.03 0.00 0.15 0.00 0.02 0.02 0.00 0.04 0.13 0.17 0.21 0.16 0.00 0.17 1.24 0.94 0.06 0.00 1.70 0.00 0.18 0.13 0.00 0.14 0.00 0.00 0.00 0.97 0.74 0.00 0.07 0.00 0.07 0.00 0.00 0.00 0.00 0.12 0.51 0.38 0.37 0.18 0.14 5.39 5.53 0.04 0.06 0.00 2.77 2.14 2.10 0.00 0.09 0.05 0.04 1.65

0.39 0.51 + 0.03 + 0.04 unch 0.15 0.11 + 0.02 0.02 0.03 0.04 unch 0.13 0.17 0.22 0.16 0.07 unch 0.18 1.36 + 1.04 0.06 0.08 2.20 + 4.00 unch 0.21 + 0.16 + 0.22 + 0.17 + 0.04 0.01 + 0.01 1.00 0.77 0.08 unch 0.07 unch 0.10 + 0.07 0.10 0.06 0.08 + 0.18 + 0.12 unch 0.51 0.41 0.38 0.25 + 0.20 + 5.55 5.81 0.05 0.06 0.45 2.92 2.20 + 2.15 + 0.10 0.09 unch 0.05 0.04 + 1.69 -

0.08 0.01 0.00 0.00 0.02 0.01 0.06 0.01 0.01 0.00 0.01 0.02 0.05 0.04 0.00 0.03 0.01 0.01 0.01 0.01 0.10 0.00 0.02 0.01 0.04 0.03 0.01 0.01 0.01 0.10 0.07 0.00 0.00 0.01 0.01 0.02 0.02 0.01 0.03 0.00 0.18 0.12 0.01 0.03 0.02 0.10 0.23 0.00 0.01 0.05 0.13 0.06 0.04 0.02 0.00 0.01 0.00 0.19

2.45 1.31 0.09 0.11 0.40 0.30 0.25 0.08 0.09 0.10 0.28 0.36 0.80 0.65 0.09 0.73 2.64 2.14 0.14 0.19 4.95 7.88 0.52 0.43 0.25 0.23 0.11 0.09 0.11 2.27 1.87 0.11 0.34 0.45 0.53 0.33 0.28 0.32 0.27 0.19 0.88 0.70 0.99 1.18 1.22 10.98 9.65 0.08 0.09 0.65 3.50 2.80 2.45 0.26 0.17 0.30 0.24 2.82

0.00 0.42 0.00 0.04 0.16 0.10 0.03 0.02 0.03 0.03 0.13 0.17 0.21 0.16 0.02 0.17 1.17 0.91 0.06 0.07 1.65 3.83 0.18 0.13 0.16 0.06 0.04 0.00 0.01 0.97 0.74 0.07 0.07 0.05 0.07 0.10 0.06 0.06 0.14 0.12 0.42 0.33 0.38 0.18 0.14 5.39 5.53 0.03 0.04 0.35 2.50 1.99 0.10 0.11 0.09 0.05 0.03 1.24

GLOBAL MINING NEWS

(100s) Stock

Exc Volume

E3 Metals V E79 Resources C E79 Resources* O Eagle Graphite V Eagle Graphite* O Eagle Plains V Earl Res V East Africa V Eastern Platin T Eastern Platin* O Eastfield Res V Eastfield Res* O 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* O Elevation Gold V Eloro Res V Eloro Res* O Elysee Dev V Elysee Dev * O Emerita Res V Emerita Res* O Emgold Mining* O Emgold Mining V Eminent Gold V Eminent Gold* O EMP Metals C EMP Metals* O 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 Engold Mines V Engold Mines* O Entree Res* O Entree Res T Equinox Gold T Equinox Gold* X 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 Ethos Gold* O Ethos Gold V Etruscus Res C Etruscus Res* O Euro Manganese* O Euro Manganese V Euro Sun Mg T Euro Sun Mg* O EurOmax Res T European Elect* O European Elect V European Metal* O Evergold V Evergold* O EVI Global Grp C Evrim Res V Excellon Res T Excellon Res* X Excelsior Mng* O Excelsior Mng T ExGen Res Inc* O ExGen Res Inc V Exploits Disc* O Fabled Silver V Fabled Silver* O Fairchild Gold V 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 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 T First Mg Fin * O 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* O Foremost Lith C Forsys Metals T Fort St James V Fortescue Met* O Fortuna Silvr T Fortuna Silvr* N Fortune Bay V Fortune Bay* O 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

638 261 70 0 125 264 0 34 463 265 22 10 25 0 58 0 411 470 40 10 57 149 12622 1720 25 192 180 288 700 169 171 2 2018 546 28 388 4 25 225 9 4 176 546 354 1916 2140 11250 1167 215 803 367 202 2267 9984 21 33 5 98 402 3872 12332 288 1006 254 64 3 108 1826 448 0 286 286 193 262 108 44 29 221 10 75 56 540 42 2 0 45 90 588 7 184 309 121 189 113 296 1 0 592 264 57 10 101 17 180 186 45 240 32 336 646 264 962 103 221 434 1298 0 31 108 259 4 49 3 36354 3206 979 1054 347 16957 535 279 4093 843 1000 4400 29 18 48 13 1044 5 128 191 28 1325 92 3527 390 200 33 3495 26465 40 25 11 393 28 591 520 293 0 8 102 157 2977 2206 564 2 1572

THE NORTHERN MINER / JULY 25 — AUGUST 7, 2022

Week High

Low

12-month

Last Change

2.68 2.13 2.18 0.22 0.20 0.20 0.18 0.15 0.16 0.00 0.00 0.11 unch 0.10 0.10 0.10 unch 0.17 0.00 0.16 + 0.00 0.00 0.45 unch 0.19 0.00 0.19 0.21 0.17 0.18 0.16 0.13 0.14 0.07 0.00 0.07 + 0.04 0.03 0.03 0.10 0.00 0.08 0.00 0.00 0.08 unch 0.05 0.04 0.04 0.00 0.00 0.13 unch 0.08 0.06 0.06 0.06 0.00 0.05 + 0.10 0.00 0.10 unch 0.03 0.00 0.03 + 0.05 0.00 0.04 0.04 0.03 0.03 5.85 5.27 5.49 7.60 6.96 7.14 0.25 0.25 0.25 unch 0.30 0.22 0.22 0.13 0.12 0.13 0.18 0.15 0.17 3.56 3.03 3.08 2.74 2.33 2.37 0.60 0.00 0.51 0.48 0.00 0.48 + 1.12 0.89 0.96 0.86 0.68 0.75 0.21 0.00 0.21 + 0.30 0.00 0.27 + 0.43 0.00 0.43 0.39 0.34 0.39 unch 0.47 0.38 0.40 0.35 0.29 0.35 0.10 0.10 0.10 unch 2.45 2.32 2.42 1.94 1.79 1.86 0.03 0.02 0.03 unch 1.16 0.97 1.07 26.25 24.67 24.90 3.33 2.96 3.17 + 4.30 3.93 4.10 + 0.44 0.31 0.31 0.57 0.40 0.41 0.21 0.17 0.17 0.16 0.13 0.13 7.21 6.51 7.07 + 5.54 4.94 5.45 + 0.02 0.00 0.02 unch 0.16 0.00 0.15 0.15 0.15 0.15 unch 0.61 0.57 0.57 0.79 0.75 0.75 5.74 4.89 5.03 4.42 3.75 3.90 0.06 0.04 0.05 0.08 0.06 0.06 0.28 0.26 0.26 0.21 0.20 0.20 0.07 0.07 0.07 unch 0.08 0.08 0.08 unch 11.54 10.75 11.03 8.89 8.14 8.46 0.00 0.00 0.06 unch 0.08 0.00 0.08 unch 0.08 0.00 0.08 unch 1.52 1.37 1.38 1.96 1.77 1.78 0.03 0.00 0.03 unch 0.31 0.25 0.27 0.38 0.00 0.37 0.08 0.00 0.08 unch 0.05 0.05 0.05 unch 0.19 0.19 0.19 0.27 0.00 0.25 + 0.12 0.10 0.11 0.10 0.07 0.09 0.06 0.00 0.06 unch 0.00 0.00 0.04 unch 0.08 0.00 0.06 0.02 0.01 0.01 0.11 0.07 0.08 0.08 0.06 0.06 0.03 0.02 0.02 0.44 0.36 0.40 + 0.57 0.47 0.48 0.43 0.35 0.36 0.15 0.11 0.12 0.19 0.16 0.16 0.06 0.06 0.06 unch 0.00 0.00 0.07 unch 0.14 0.11 0.12 0.06 0.05 0.06 unch 0.05 0.04 0.05 + 0.09 0.00 0.09 0.23 0.00 0.21 0.17 0.00 0.17 unch 0.08 0.00 0.07 0.07 0.05 0.05 0.12 0.00 0.12 0.16 0.00 0.13 0.14 0.10 0.12 0.16 0.12 0.15 0.18 0.16 0.17 + 0.11 0.00 0.11 + 17.35 14.43 15.20 12.97 11.02 11.64 0.09 0.08 0.08 0.10 0.08 0.09 + 0.13 0.10 0.10 0.00 0.00 0.10 unch 0.45 0.40 0.42 0.59 0.52 0.55 3.86 3.27 3.45 0.12 0.00 0.12 0.10 0.08 0.08 0.10 0.00 0.10 + 7.34 6.47 6.89 9.49 8.53 8.98 0.22 0.20 0.21 0.17 0.15 0.16 0.42 0.35 0.41 + 24.44 19.27 20.44 0.16 0.09 0.09 0.11 0.07 0.07 0.09 0.07 0.07 0.06 0.05 0.05 0.49 0.43 0.47 0.66 0.57 0.63 0.04 0.00 0.04 + 0.03 0.03 0.03 unch 0.06 0.06 0.06 0.08 0.00 0.08 + 0.02 0.02 0.02 unch 0.18 0.17 0.17 unch 0.29 0.22 0.22 0.07 0.06 0.07 unch 1.90 1.65 1.67 2.50 2.14 2.15 0.11 0.09 0.10 0.15 0.12 0.13 0.54 0.47 0.53 + 0.06 0.00 0.06 unch 11.77 0.00 11.26 3.59 3.27 3.44 2.78 2.47 2.64 0.41 0.00 0.37 0.31 0.27 0.28 0.07 0.07 0.07 + 0.10 0.09 0.10 + 0.07 0.06 0.07 + 0.09 0.09 0.09 0.13 0.11 0.13 unch 0.34 0.29 0.33 unch 0.00 0.00 0.25 unch 0.55 0.53 0.53 0.25 0.23 0.23 0.56 0.46 0.52 + 134.71 125.93 127.28 174.31 164.41 165.72 0.01 0.01 0.01 + 0.14 0.00 0.14 + 0.49 0.40 0.41 -

0.22 0.02 0.02 0.00 0.00 0.01 0.00 0.01 0.04 0.02 0.02 0.01 0.02 0.00 0.01 0.00 0.01 0.00 0.00 0.01 0.02 0.01 0.25 0.30 0.00 0.07 0.01 0.01 0.45 0.32 0.09 0.02 0.16 0.11 0.02 0.01 0.02 0.00 0.07 0.02 0.00 0.03 0.03 0.00 0.10 0.71 0.01 0.03 0.06 0.10 0.04 0.03 0.03 0.01 0.00 0.02 0.00 0.03 0.05 0.63 0.44 0.00 0.01 0.02 0.02 0.00 0.00 0.41 0.38 0.00 0.00 0.00 0.07 0.10 0.00 0.05 0.05 0.00 0.00 0.00 0.02 0.01 0.01 0.00 0.00 0.03 0.01 0.02 0.02 0.01 0.05 0.10 0.07 0.02 0.03 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.00 0.02 0.01 0.01 0.02 0.00 0.00 0.02 0.03 2.15 1.84 0.02 0.01 0.01 0.00 0.01 0.03 0.30 0.01 0.01 0.01 0.18 0.18 0.01 0.00 0.01 4.56 0.06 0.03 0.01 0.01 0.02 0.02 0.01 0.00 0.00 0.01 0.00 0.00 0.03 0.00 0.28 0.38 0.01 0.01 0.01 0.00 0.88 0.07 0.09 0.06 0.03 0.00 0.01 0.01 0.00 0.00 0.00 0.00 0.03 0.02 0.02 5.56 6.39 0.00 0.02 0.07

High Low

3.49 1.40 1.17 0.22 0.16 0.19 0.45 0.45 0.37 0.28 0.10 0.09 0.20 0.16 0.30 0.22 0.23 0.90 0.25 0.05 0.15 0.12 12.49 15.73 0.59 1.65 1.78 2.04 5.44 4.46 0.88 0.70 4.14 3.35 0.21 0.65 0.94 1.00 0.71 1.00 0.29 4.00 3.17 0.21 2.27 35.94 5.95 7.49 0.44 0.57 0.32 0.25 14.33 11.39 0.06 0.40 0.52 0.95 1.19 11.46 9.07 0.14 0.18 0.50 0.41 0.11 0.15 25.92 20.95 0.10 0.14 0.14 2.93 3.55 0.19 0.57 1.80 0.35 0.27 0.68 0.72 0.44 0.37 0.12 0.16 0.19 0.11 0.24 0.33 0.12 0.58 3.00 2.40 0.52 0.66 0.11 0.14 1.12 0.20 0.15 0.20 0.45 0.36 0.13 0.15 0.16 0.60 0.38 0.32 0.40 0.13 27.37 21.10 0.20 0.35 0.37 0.24 0.73 0.91 7.65 0.39 0.32 0.10 14.67 18.41 0.49 0.40 0.75 45.38 0.71 1.00 0.30 0.24 1.00 1.25 0.07 0.05 0.11 0.14 0.06 0.23 1.20 0.18 2.42 3.09 0.42 0.44 1.30 0.50 19.55 6.95 5.52 0.85 0.68 0.13 0.16 0.56 0.47 0.56 1.67 0.55 0.79 0.82 0.96 169.32 216.32 0.04 0.37 0.71

1.59 0.19 0.14 0.09 0.00 0.14 0.45 0.14 0.17 0.13 0.04 0.03 0.07 0.06 0.04 0.10 0.05 0.01 0.09 0.02 0.04 0.03 5.27 6.96 0.22 0.21 0.12 0.15 2.90 2.21 0.58 0.46 0.89 0.69 0.11 0.14 0.41 0.31 0.25 0.22 0.08 2.25 1.72 0.02 0.95 24.67 2.89 3.77 0.15 0.19 0.17 0.13 5.55 4.32 0.02 0.16 0.01 0.55 0.71 5.04 3.82 0.04 0.06 0.25 0.20 0.03 0.05 10.54 8.07 0.06 0.08 0.08 1.22 1.56 0.03 0.14 0.32 0.07 0.07 0.16 0.19 0.10 0.07 0.05 0.04 0.04 0.01 0.08 0.01 0.02 0.33 0.49 0.35 0.11 0.16 0.06 0.06 0.10 0.05 0.04 0.09 0.21 0.11 0.06 0.04 0.09 0.15 0.12 0.12 0.15 0.05 7.81 6.07 0.06 0.08 0.10 0.06 0.39 0.50 3.27 0.10 0.08 0.09 6.47 8.53 0.21 0.16 0.05 19.27 0.05 0.02 0.07 0.05 0.35 0.45 0.03 0.02 0.05 0.05 0.02 0.15 0.21 0.05 1.45 1.85 0.07 0.10 0.39 0.06 10.25 3.27 2.47 0.36 0.00 0.06 0.09 0.06 0.07 0.10 0.29 0.25 0.45 0.23 0.42 124.95 158.27 0.01 0.12 0.28

(100s) Stock

Exc Volume

Week High

Low

12-month

Last Change

Freeman Gold* O 453 Freeport McMoR* N 134895 Freeport Res V 23 Fremont Gold V 6 Fresnillo plc* O 31 Frontier Lith V 1708 Frontline Gold V 65 Full Metal Mnl* O 9 Full Metal Mnl V 0 Fury Gold T 71 Fury Gold* X 426 Fuse Cobalt* O 223 Fuse Cobalt V 405

0.26 0.24 0.24 - 0.01 27.31 24.80 25.82 - 2.18 0.05 0.00 0.05 unch 0.00 0.12 0.00 0.12 + 0.01 8.35 7.65 7.84 - 0.40 1.85 1.30 1.33 - 0.47 0.02 0.00 0.02 + 0.01 0.02 0.02 0.02 + 0.00 0.00 0.00 0.07 unch 0.00 0.59 0.53 0.58 - 0.02 0.47 0.40 0.45 - 0.01 0.05 0.04 0.05 + 0.00 0.07 0.06 0.06 - 0.01

G2 Goldfields* O G2 Goldfields V Gabriel Res V Gabriel Res* O Galane Gold * O Galane Gold V Galantas Gold* O Galantas Gold V Galiano Gold T Galiano Gold* X Galleon Gold V Galore Res V Galway Gold * O Galway Gold V Galway Mtls* O Galway Mtls V Gambier Gold* O Gambier Gold V Garibaldi Res * O Garibaldi Res V Gatos Silver T Gatos Silver* N GCM Mining T GCM Mining* O General Gold C Generation Min T Generation Min* O Generic Gold* O Generic Gold C Genesis Mtls* O Genesis Mtls V Gensource Pot V Gentor Res V Geomega Res V Geomega Res* O Getchell Gold C Getchell Gold * O Getty Copper V GFG Resources V GFG Resources* O GFM Res V GGL Res V GGL Res* O GGX Gold* O GGX Gold V Giga Metals V Giga Metals* O Gitennes Expl V Gitennes Expl * O Giyani Gold* O Giyani Gold V GK Resources V Glacier Lake V Gladiator Met V Glen Eagle Res* O Glen Eagle Res V Glencore Plc * O Glencore Plc* O Global Atomic* O Global Atomic T Global Battery V Global Battery* O Global Energy* O Global Energy V Global Li-Ion C Global Li-Ion* O GlobalMin Vent* O Globex Mng* O Globex Mng T GMV Minerals V GMV Minerals* O Go Cobalt C Go Cobalt* O GobiMin V GoGold Res T Golcap Res C Gold Basin Res* O Gold Bull Res* O Gold Bull Res V Gold Fields* O Gold Fields* N Gold Finder Ex V Gold Finder Ex* O Gold Hunter Rs C Gold Line Res V Gold Lion Res* O Gold Lion Res C Gold Mountain* O Gold Mountain T Gold Port C Gold Reserve V Gold Reserve* O Gold Resource* X Gold Royalty* X Gold State Res* O Gold State Res V Gold Std Vents T Gold Std Vents* X Gold’n Futures C Gold79 Mines V Gold79 Mines* O Goldbank Mng V Goldcliff Res* O Goldcliff Res V Golden Arrow* O Golden Arrow V Golden Dawn Ml* O Golden Dawn Ml V Golden Goliath* O Golden Goliath V Golden Harp* O Golden Harp V Golden Hope V Golden Hope* O Golden Indepen C Golden Indepe* O Golden Lake C Golden Mnls T Golden Mnls* X Golden Pursuit* O Golden Pursuit V Golden Ridge V Golden Secret V Golden Share V Golden Spike C Golden Tag V Golden Tag* O Goldex Res* O Goldex Res V Goldflare Expl V Goldgroup Mng* O Goldgroup Mng T GoldHaven Res* O Goldhills Hldg V Goldhills Hldg* O GoldMining T GoldON Res V GoldON Res* O Goldplay Min V GoldQuest Mng V Goldrea Res C Goldrea Res* O Goldrich Mng* O Goldseek Res C Goldseek Res* O Goldshore Res* O Goldshore Res V Goldsource Min* O Goldsource Min V Goldstar Mnls V Goliath Res* O Goliath Res V Gossan Res V

0.51 0.66 0.23 0.18 0.07 0.09 0.37 0.47 0.52 0.40 0.32 0.02 0.09 0.13 0.32 0.42 0.03 0.03 0.30 0.42 4.00 3.09 3.55 2.71 0.16 0.58 0.43 0.15 0.25 0.07 0.10 0.21 0.00 0.23 0.17 0.59 0.46 0.05 0.12 0.09 0.00 0.00 0.07 0.05 0.08 0.30 0.22 0.02 0.01 0.25 0.33 0.00 0.00 0.00 0.03 0.04 5.09 10.13 2.27 2.89 0.12 0.10 0.12 0.15 0.06 0.05 0.04 0.77 1.05 0.09 0.07 0.11 0.08 0.90 1.92 0.14 0.12 0.08 0.10 9.16 9.67 0.03 0.03 0.35 0.22 0.05 0.06 0.26 0.34 0.08 1.20 0.90 1.64 2.62 0.04 0.03 0.41 0.31 0.02 0.04 0.03 0.00 0.09 0.11 0.11 0.14 0.06 0.06 0.03 0.04 0.00 0.00 0.07 0.05 0.05 0.04 0.10 0.45 0.34 0.12 0.17 0.12 3.79 0.08 0.27 0.15 0.12 0.06 0.07 0.05 0.02 0.03 0.12 0.00 0.10 1.21 0.15 0.11 0.07 0.18 0.03 0.02 0.04 0.05 0.00 0.23 0.27 0.33 0.44 0.00 0.78 1.01 0.13

Stock

0.47 51.99 0.22 0.35 13.38 3.89 0.04 0.24 0.23 1.40 1.13 0.09 0.11

0.23 24.80 0.04 0.11 7.65 0.73 0.01 0.02 0.07 0.53 0.40 0.03 0.04

0.65 0.83 0.34 0.26 0.18 0.21 0.65 0.86 1.34 1.06 1.00 0.03 0.16 0.23 0.69 0.89 0.16 0.21 0.53 0.65 19.56 15.71 6.13 4.93 0.46 1.17 0.94 0.36 0.45 0.15 0.19 0.48 0.14 0.35 0.28 0.81 0.63 0.09 0.22 0.18 0.15 0.18 0.14 0.17 0.21 0.60 0.49 0.09 0.07 0.56 0.61 0.25 0.40 0.44 0.13 0.18 7.00 14.00 4.07 5.10 0.35 0.28 0.25 0.31 0.10 0.08 0.30 1.34 1.69 0.44 0.35 0.45 0.26 0.61 3.79 1.26 0.39 0.34 0.42 16.97 17.20 0.16 0.12 0.50 3.05 0.13 0.18 1.90 2.25 0.14 2.22 1.79 2.63 5.65 0.17 0.20 0.73 0.58 0.15 0.08 0.07 0.18 0.14 0.18 0.16 0.21 0.24 0.31 0.07 0.07 0.40 0.20 0.34 0.27 0.25 0.20 0.36 0.81 0.63 0.12 0.19 0.33 5.30 0.18 0.49 0.38 0.30 0.56 0.10 0.20 0.06 0.08 0.45 0.31 0.20 2.59 0.30 0.64 0.18 0.36 0.05 0.04 0.10 0.20 0.16 1.75 0.79 0.84 1.05 0.12 1.31 1.62 0.29

0.32 0.39 0.17 0.12 0.06 0.08 0.26 0.34 0.48 0.36 0.29 0.02 0.08 0.10 0.26 0.37 0.01 0.02 0.05 0.21 3.14 2.40 3.16 2.39 0.15 0.51 0.39 0.11 0.14 0.06 0.08 0.18 0.06 0.17 0.14 0.37 0.28 0.03 0.11 0.09 0.07 0.09 0.01 0.05 0.06 0.26 0.19 0.02 0.01 0.18 0.28 0.15 0.11 0.11 0.03 0.03 3.98 7.91 1.81 2.30 0.09 0.07 0.11 0.13 0.05 0.01 0.01 0.71 0.90 0.08 0.06 0.08 0.01 0.19 1.68 0.10 0.12 0.06 0.07 8.22 7.75 0.02 0.02 0.20 0.18 0.03 0.04 0.22 0.29 0.08 0.80 0.61 1.50 2.15 0.02 0.02 0.37 0.28 0.02 0.03 0.02 0.07 0.05 0.07 0.10 0.13 0.05 0.05 0.01 0.03 0.11 0.14 0.05 0.05 0.04 0.03 0.08 0.41 0.31 0.09 0.09 0.10 2.70 0.07 0.18 0.12 0.09 0.00 0.06 0.04 0.01 0.02 0.05 0.12 0.10 1.13 0.11 0.02 0.05 0.11 0.02 0.01 0.03 0.04 0.06 0.18 0.25 0.30 0.40 0.04 0.49 0.62 0.07

G-H 36 266 153 40 668 250 142 128 52 1646 145 8 25 22 78 409 50 488 122 161 94 3130 1254 146 107 478 74 10 43 67 1017 199 0 153 36 128 98 37 471 256 0 0 1 7 151 296 276 160 2 118 275 0 0 0 255 501 431 3801 362 1084 680 259 16 51 59 24 3 32 151 48 24 301 32 398 2860 54 24 707 1160 1 39721 872 344 203 13 525 284 110 858 5 45 110 3638 1754 39 2511 495 1531 1472 447 346 0 18 116 72 132 3 132 8 119 0 0 349 15 145 82 369 23 2373 66 98 106 96 9 112 596 193 116 26 217 70 20 195 0 2 823 195 77 220 67 317 1 768 565 0 95 144 56 100 0 450 842 41

0.42 0.00 0.00 0.15 0.06 0.08 0.29 0.38 0.48 0.36 0.29 0.00 0.09 0.00 0.29 0.37 0.03 0.00 0.26 0.34 3.35 2.58 3.13 2.39 0.00 0.51 0.39 0.15 0.17 0.06 0.08 0.19 0.00 0.20 0.00 0.54 0.42 0.00 0.00 0.09 0.00 0.00 0.07 0.05 0.00 0.27 0.20 0.00 0.01 0.22 0.30 0.00 0.00 0.00 0.03 0.03 4.67 9.31 1.96 2.58 0.09 0.07 0.11 0.00 0.05 0.04 0.04 0.00 0.94 0.00 0.06 0.08 0.01 0.00 1.63 0.10 0.12 0.06 0.07 0.00 8.60 0.00 0.02 0.25 0.00 0.03 0.05 0.22 0.29 0.08 1.03 0.80 1.50 2.30 0.02 0.00 0.36 0.27 0.02 0.03 0.02 0.00 0.09 0.00 0.10 0.00 0.05 0.00 0.03 0.00 0.00 0.00 0.04 0.03 0.00 0.03 0.08 0.00 0.31 0.00 0.00 0.00 0.00 0.00 0.18 0.12 0.09 0.05 0.00 0.00 0.01 0.00 0.07 0.00 0.10 1.13 0.00 0.10 0.00 0.16 0.00 0.02 0.03 0.04 0.00 0.18 0.25 0.00 0.40 0.00 0.63 0.81 0.00

0.43 0.55 0.23 + 0.17 + 0.06 0.08 0.33 + 0.43 0.50 0.38 0.30 0.02 0.09 unch 0.13 + 0.29 0.41 + 0.03 0.03 0.27 0.38 3.64 + 2.82 + 3.14 2.42 0.15 0.53 0.40 0.15 unch 0.18 0.06 0.09 0.20 unch 0.07 unch 0.22 unch 0.16 0.54 0.42 0.04 0.11 unch 0.09 0.07 unch 0.09 unch 0.07 unch 0.05 0.08 + 0.29 + 0.22 0.02 unch 0.01 unch 0.24 0.33 + 0.15 unch 0.11 unch 0.12 unch 0.03 unch 0.04 4.78 9.62 2.18 2.87 0.10 0.07 0.11 0.15 unch 0.05 0.04 0.04 unch 0.73 0.94 0.08 unch 0.06 0.10 0.08 + 0.83 + 1.71 0.10 0.12 unch 0.06 0.08 unch 8.67 8.79 0.03 unch 0.02 + 0.35 + 0.22 + 0.05 + 0.06 + 0.25 0.33 0.08 unch 1.17 + 0.90 + 1.54 2.37 0.04 + 0.02 0.37 0.29 0.02 0.03 0.02 0.08 unch 0.09 0.10 0.10 0.13 0.05 0.05 0.03 0.03 unch 0.11 unch 0.15 unch 0.05 0.03 0.05 unch 0.04 + 0.08 unch 0.40 0.32 0.12 0.16 0.11 3.75 + 0.08 unch 0.22 0.14 0.10 0.06 + 0.07 + 0.05 unch 0.02 0.03 unch 0.09 0.12 unch 0.10 unch 1.16 0.12 0.10 0.06 + 0.17 0.03 0.02 0.03 + 0.04 0.06 unch 0.23 + 0.27 + 0.31 0.42 0.05 unch 0.66 + 0.86 + 0.13 +

0.06 0.10 0.03 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.03 0.01 0.00 0.03 0.01 0.02 0.00 0.01 0.03 0.01 0.22 0.18 0.38 0.31 0.01 0.02 0.03 0.00 0.02 0.01 0.01 0.00 0.00 0.00 0.01 0.06 0.04 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.00 0.00 0.01 0.01 0.00 0.00 0.00 0.00 0.01 0.37 0.68 0.07 0.06 0.03 0.02 0.00 0.00 0.01 0.01 0.00 0.08 0.09 0.00 0.01 0.02 0.07 0.63 0.18 0.04 0.00 0.01 0.00 0.98 0.40 0.00 0.00 0.10 0.03 0.02 0.01 0.01 0.01 0.00 0.12 0.09 0.04 0.04 0.02 0.01 0.02 0.02 0.01 0.01 0.01 0.00 0.01 0.01 0.01 0.01 0.00 0.02 0.00 0.00 0.00 0.00 0.02 0.02 0.00 0.00 0.00 0.04 0.02 0.00 0.02 0.02 0.16 0.00 0.04 0.01 0.02 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.01 0.00 0.03 0.01 0.03 0.01 0.00 0.02 0.03 0.03

(100s)

High Low

Exc Volume

Week

12-month

High

Low

Last Change

GoviEx Uranium* O 279 GoviEx Uranium V 2295 Gowest Gold* O 50 Gowest Gold V 19 GPM Metals V 54 GR Silver* O 318 GR Silver V 1237 Granada Gold* O 54 Granada Gold V 1076 Grande Portage* O 143 Grande Portage V 237 Granite Creek V 293 Granite Creek* O 76 Graphano Egy V 70 Graphite One V 62 Graphite One* O 84 Gratomic* O 207 Gratomic V 2247 Graycliff Exp C 117 Great Atlantic V 209 Great Panther T 906 Great Panther* X 21017 Great Quest Fe V 126 Green Battery V 355 Green River* O 13 Green River C 35 Green Swan Cap V 2 Green Valley M V 5 Greencastle Rs V 19 Greenhawk Res C 454 Greenland M&En* O 211 Greenland Res 570 Greenshield Ex V 0 Grid Metals V 494 Grid Metals* O 21 Grizzly Discvr* O 378 Grizzly Discvr V 434 Grosvenor Res V 0 Group Eleven V 310 Group Ten Mtls* O 503 Group Ten Mtls V 427 GSP Resource V 15 Guanajuato Sil V 1297 Guanajuato Sil* O 744 Guardian Exp V 31 Gungnir Res* O 142 Gungnir Res V 574 Gunpoint Expl* O 125 Gunpoint Expl V 0 Guyana Goldstr V 0 Hanna Capital V 0 Hannan Metals V 184 Hannan Metals* O 199 Hanstone Gold V 2 Happy Ck Mnrls V 286 Harfang Explor V 93 Harmony Gold* N 22514 Harvest Gold V 12 Harvest Gold* O 100 Hawkeye Gld&Di* O 0 Hawkeye Gld&Di V 23 Hawkmoon Res C 882 Headwater Gold C 40 Headwater Gold* O 155 Hecla Mining* N 41577 Heliostar Met* O 69 Heliostar Met V 93 Hemlo Expl* O 50 Hemlo Expl V 11 HFX Holding V 1 Highbank Res V 39 Highbury Proj V 0 HighGold V 378 HighGold* O 142 Highland Copp V 191 Highland Copp* O 93 Highway 50 Gld V 69 Highwood Asset V 2 Hochschild Mg* O 67 Homerun Res V 400 Honey Badger V 3210 Honey Badger* O 271 Horizonte Mnls T 258 Horizonte Mnls* O 169 HudBay Min* N 11589 HudBay Min T 6304 Hudson Res V 56 Hudson Res* O 35 Hunt Mng* O 6 Hunt Mng V 36 Hylands Intl V 0 i-80 Gold T 2563

0.20 0.27 0.06 0.10 0.08 0.09 0.13 0.03 0.04 0.16 0.21 0.08 0.06 0.23 1.38 1.06 0.23 0.31 0.20 0.11 0.16 0.13 0.03 0.07 0.06 0.07 0.04 0.08 0.09 0.08 0.04 0.55 0.00 0.14 0.10 0.07 0.09 0.00 0.08 0.18 0.24 0.08 0.30 0.25 0.06 0.08 0.11 0.40 0.00 0.00 0.00 0.26 0.20 0.15 0.04 0.28 3.33 0.04 0.03 0.01 0.02 0.03 0.21 0.14 4.00 0.19 0.25 0.09 0.11 0.00 0.05 0.00 0.72 0.55 0.09 0.08 0.18 10.00 0.99 0.08 0.06 0.04 1.79 1.32 3.63 4.70 0.04 0.03 0.02 0.03 0.00 2.30

0.17 0.23 0.06 0.00 0.00 0.08 0.11 0.02 0.00 0.14 0.19 0.07 0.05 0.00 1.30 1.00 0.19 0.24 0.17 0.00 0.12 0.09 0.00 0.00 0.06 0.06 0.00 0.00 0.00 0.06 0.03 0.40 0.00 0.11 0.08 0.06 0.08 0.00 0.07 0.16 0.20 0.00 0.27 0.20 0.00 0.07 0.00 0.40 0.00 0.00 0.00 0.00 0.14 0.00 0.00 0.24 2.92 0.00 0.03 0.01 0.00 0.02 0.18 0.10 3.47 0.16 0.23 0.09 0.00 0.00 0.00 0.00 0.64 0.49 0.00 0.06 0.00 0.00 0.86 0.00 0.04 0.03 1.45 1.20 3.08 4.07 0.00 0.02 0.02 0.00 0.00 1.97

I-Minerals V 8 I-Minerals* O 10 IAMGOLD T 5455 IAMGOLD* N 24240 Icon Explor* O 122 Iconic Mnls * O 89 Iconic Mnls V 209 Idaho Champion C 256 Idaho Champion* O 232 IEMR Res V 0 iMetal Res V 117 iMetal Res* O 302 IMPACT Silver V 573 Impala Platnm* O 1 Imperial Metal T 44 Imperial Metal* O 9 Imperial Mg Gr* O 376 Imperial Mg Gr V 610 Inca One Gold* O 148 Inca One Gold V 61 Inception Mng * O 24638 Independence G V 365 Independence G* O 43 Indiana Res* O 1 Indigo Expl V 0 Infield Min V 0 Infinite Ore V 441 Infinite Ore* O 15 Inflection Res C 187 Inomin Mines V 194 Intact Gold V 0 Integra Res V 188 Integra Res* X 453 Inter-Rock Mnl V 5 Interconnect V 0 Interra Copper C 28 Intl Battery C 547 Intl Bethl Mng V 6 Intl Iconic* O 116 Intl Iconic V 322 Intl Lithium V 188 Intl Lithium* O 311 Intl Prospect V 0 Intl Prospect * O 0 Intl Star* O 98715 Intl Tower Hil* X 643 Intl Tower Hil T 18 Intl Zeolite* O 50 Intl Zeolite V 51 Intrepid Pots* N 2109 Inventus Mg * O 58 Inventus Mg V 154 InZinc Mining V 40 Ion Energy V 150 Ion Energy* O 29 Irving Res C 69 Irving Res* O 84 IsoEnergy Ltd V 229 Itafos* O 26 Itafos V 254 Itoco Inc* O 25 Ivanhoe Mines* O 523 Ivanhoe Mines T 9605 Ivor Explor C 587 Jade Leader* O 5 Jade Leader V 5 Jaeger Res * O 0 Jaeger Res V 0 Jaguar Mng T 355 Jaguar Mng* O 130 Japan Gold V 80 Japan Gold* O 33 Jasper Mining V 2 Jasper Mining* O 85

0.02 0.00 0.02 unch 0.00 0.04 0.02 0.01 0.01 0.01 unch 0.00 0.03 0.01 1.97 1.74 1.82 - 0.09 4.74 1.74 1.52 1.31 1.40 - 0.08 3.77 1.31 0.01 0.01 0.01 unch 0.00 0.07 0.00 0.10 0.08 0.08 - 0.03 0.23 0.07 0.12 0.10 0.11 - 0.02 0.28 0.09 0.05 0.04 0.05 unch 0.00 0.15 0.03 0.04 0.03 0.03 - 0.00 0.11 0.03 0.00 0.00 0.02 unch 0.00 0.04 0.02 0.18 0.00 0.15 - 0.03 0.53 0.14 0.16 0.12 0.12 - 0.04 0.46 0.10 0.30 0.25 0.28 - 0.02 0.69 0.25 10.75 9.00 9.00 - 1.75 18.65 9.00 2.90 2.36 2.40 - 0.49 4.75 2.36 2.22 1.82 1.86 - 0.34 3.80 1.82 0.06 0.05 0.06 - 0.00 0.16 0.05 0.08 0.00 0.08 - 0.01 0.19 0.07 0.19 0.17 0.17 + 0.00 0.42 0.13 0.24 0.22 0.23 - 0.03 0.45 0.22 0.00 0.00 0.00 - 0.00 0.02 0.00 0.06 0.00 0.06 + 0.01 0.13 0.05 0.04 0.04 0.04 + 0.00 0.11 0.03 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.00 0.00 0.03 unch 0.00 0.10 0.03 0.00 0.00 0.05 unch 0.00 0.19 0.04 0.09 0.07 0.08 + 0.01 0.28 0.06 0.08 0.06 0.07 + 0.02 0.21 0.04 0.09 0.08 0.08 - 0.01 0.34 0.08 0.08 0.07 0.08 unch 0.00 0.72 0.07 0.00 0.00 0.05 unch 0.00 0.08 0.03 1.13 0.86 0.88 - 0.24 3.86 0.93 0.92 0.66 0.68 - 0.20 3.19 0.70 0.48 0.00 0.48 - 0.09 0.65 0.40 0.00 0.00 0.08 unch 0.00 0.10 0.08 0.68 0.55 0.58 - 0.02 2.70 0.32 3.53 2.26 2.77 - 0.59 7.52 0.51 0.04 0.00 0.04 unch 0.00 0.09 0.02 0.02 0.01 0.01 - 0.01 0.13 0.02 0.03 0.00 0.03 - 0.01 0.16 0.02 0.08 0.00 0.08 - 0.01 0.15 0.05 0.07 0.05 0.06 - 0.01 0.12 0.03 0.00 0.00 0.06 unch 0.00 0.25 0.05 0.06 0.00 0.06 unch 0.00 0.36 0.04 0.01 0.01 0.01 + 0.00 0.02 0.00 0.54 0.50 0.52 - 0.02 1.23 0.46 0.69 0.65 0.68 - 0.03 1.56 0.58 0.08 0.08 0.08 - 0.01 0.24 0.08 0.13 0.00 0.13 + 0.03 0.31 0.10 40.66 35.40 38.04 - 2.16 121.72 27.43 0.09 0.06 0.06 + 0.01 0.16 0.05 0.12 0.00 0.10 - 0.01 0.22 0.09 0.05 0.00 0.05 - 0.01 0.09 0.03 0.20 0.16 0.19 + 0.03 0.59 0.16 0.18 0.13 0.15 - 0.02 0.58 0.12 1.11 0.92 1.10 - 0.06 1.84 0.92 0.86 0.70 0.85 + 0.02 1.44 0.70 3.03 2.51 3.03 + 0.21 6.61 1.95 1.36 1.22 1.28 - 0.12 3.13 0.88 1.86 1.53 1.65 - 0.17 3.94 1.05 0.08 0.07 0.08 - 0.00 0.35 0.07 5.73 4.90 5.13 - 0.73 10.32 5.00 7.49 6.41 6.69 - 0.89 13.15 6.57 0.97 0.67 0.94 + 0.18 1.90 0.32 0.04 0.04 0.04 unch 0.00 0.07 0.03 0.04 0.00 0.04 - 0.01 0.11 0.04 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.00 0.00 0.02 unch 0.00 0.04 0.02 2.93 2.54 2.81 + 0.04 5.97 2.54 2.25 1.96 2.16 - 0.01 4.72 1.96 0.23 0.00 0.22 - 0.02 0.41 0.22 0.18 0.00 0.16 - 0.01 0.32 0.16 0.16 0.00 0.16 + 0.04 0.17 0.04 0.00 0.00 0.05 unch 0.00 0.09 0.05

0.20 + 0.27 + 0.06 unch 0.10 + 0.08 0.09 + 0.11 0.02 0.03 0.16 + 0.20 0.07 0.05 0.23 unch 1.34 + 1.05 + 0.20 0.27 0.19 0.09 0.12 0.09 0.03 unch 0.06 0.06 + 0.07 0.04 unch 0.08 0.09 + 0.06 0.04 + 0.50 + 1.95 unch 0.12 0.08 0.07 0.08 0.11 unch 0.08 unch 0.18 0.23 0.08 unch 0.28 0.22 0.05 0.08 + 0.11 + 0.40 unch 0.63 unch 0.13 unch 0.02 unch 0.22 0.16 0.15 unch 0.04 unch 0.25 3.03 0.04 unch 0.03 unch 0.01 unch 0.02 unch 0.02 0.18 + 0.13 + 3.77 + 0.18 + 0.24 + 0.09 unch 0.11 0.04 unch 0.05 + 0.35 unch 0.65 0.50 0.09 unch 0.07 0.18 unch 10.00 + 0.91 0.08 unch 0.05 0.04 1.61 1.28 + 3.26 4.25 0.04 unch 0.02 0.02 unch 0.03 0.02 unch 2.14 -

0.01 0.01 0.00 0.02 0.02 0.00 0.01 0.00 0.01 0.00 0.01 0.01 0.01 0.00 0.02 0.05 0.03 0.02 0.01 0.02 0.04 0.04 0.00 0.01 0.01 0.01 0.00 0.01 0.01 0.02 0.01 0.01 0.00 0.01 0.03 0.01 0.02 0.00 0.00 0.02 0.02 0.00 0.03 0.02 0.01 0.00 0.01 0.00 0.00 0.00 0.00 0.02 0.02 0.00 0.00 0.03 0.26 0.00 0.00 0.00 0.00 0.01 0.02 0.01 0.12 0.00 0.01 0.00 0.01 0.00 0.01 0.00 0.03 0.04 0.00 0.00 0.00 0.50 0.09 0.00 0.01 0.01 0.15 0.02 0.47 0.59 0.00 0.01 0.00 0.01 0.00 0.05

(100s)

High Low

Stock

0.47 0.59 0.19 0.24 0.15 0.48 0.58 0.11 0.13 0.56 0.69 0.27 0.20 1.20 2.54 2.00 1.27 1.60 0.69 0.56 0.80 0.64 0.14 0.21 0.08 0.10 0.08 1.10 0.16 0.29 0.11 1.02 1.98 0.23 0.18 0.09 0.11 0.17 0.18 0.39 0.48 0.30 0.72 0.56 0.14 0.25 0.32 0.59 0.68 0.13 0.07 0.38 0.30 0.42 0.08 0.86 5.50 0.23 0.16 0.03 0.03 0.15 0.33 0.27 7.66 0.94 1.18 0.30 0.38 0.07 0.20 0.35 2.08 1.65 0.17 0.13 0.44 16.00 2.40 0.21 0.10 0.09 2.33 1.91 8.75 11.17 0.16 0.12 0.12 0.08 0.04 4.03

Jaxon Mining* Jaxon Mining Jayden Res* Jayden Res Jazz Res Jervois Mining Jervois Mining* Joshua Gold* Jourdan Res Jubilee Gold Jubilee Metals* Juggernaut Exp* Juggernaut Exp Jupiter Gold* K2 Gold K9 Gold* K92 Mining K92 Mining* Kainantu Res Kaizen Discov 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 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*

La Imperial Labrador Gold* Labrador Gold Labrador IMH* Labrador IOR* Labrador IOR Lake Resources* Lara Expl Laramide Res Laredo Res* Largo Res Largo Res* Latin Metals* Latin Metals Laurion Mnl Ex Laurion Mnl Ex* Leading Edge Leading Edge* Leeta Gold Legion Metals Leo Res* Leocor Gold Leocor Gold* 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 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*

0.15 0.19 0.01 0.08 0.08 0.08 0.11 0.02 0.03 0.14 0.19 0.07 0.06 0.20 0.89 0.70 0.19 0.24 0.17 0.08 0.12 0.09 0.02 0.06 0.02 0.03 0.04 0.07 0.08 0.06 0.03 0.30 0.32 0.09 0.07 0.02 0.03 0.11 0.07 0.16 0.20 0.08 0.27 0.20 0.05 0.03 0.05 0.40 0.50 0.13 0.02 0.16 0.12 0.10 0.03 0.24 2.92 0.04 0.00 0.01 0.01 0.02 0.11 0.09 3.44 0.16 0.20 0.09 0.11 0.03 0.04 0.20 0.64 0.48 0.08 0.06 0.18 8.50 0.91 0.04 0.04 0.03 0.10 1.20 3.08 4.07 0.03 0.02 0.02 0.03 0.02 2.07

I-J-K

Exc Volume

Week

21

12-month

High

Low

Last Change

High Low

O 17 V 0 O 0 V 88 V 23 V 686 O 1133 O 554 V 1562 V 0 O 26 O 20 V 80 O 1 V 53 O 33 T 2884 O 390 V 427 V 1 V 252 V 232 C 64 T 297 V 1 O 539 O 23393 O 2 V 31 V 126 V 125 V 69 O 3 V 306 V 0 O 0 V 51 O 8 V 306 O 265 V 769 V 338 O 10 V 16 V 32 T 14556 N 94270 V 33 V 413 O 5 O 73 V 191 O 187 V 281 O 114 O 51 V 2074 O 809 V 1694 C 774 V 138 O 250 O 84 C 192 O 133 C 1816 O 50

0.01 0.00 0.00 0.22 0.87 0.49 0.37 0.02 0.09 0.00 0.18 0.10 0.11 0.00 0.17 0.09 7.42 5.70 0.14 0.28 0.08 0.72 0.16 0.37 0.30 2.33 0.00 0.05 0.07 0.71 0.02 0.06 0.04 0.07 0.00 0.14 0.06 0.03 0.04 0.16 0.21 0.02 0.01 0.09 0.07 4.46 3.45 0.06 0.75 0.57 0.11 0.14 0.06 0.06 0.85 0.17 0.22 0.10 0.13 0.02 0.18 0.13 0.20 0.48 0.38 0.05 0.03

0.01 0.00 0.00 0.15 0.00 0.41 0.31 0.01 0.07 0.00 0.17 0.08 0.10 0.00 0.00 0.00 6.66 5.09 0.10 0.00 0.06 0.56 0.13 0.33 0.00 1.92 0.00 0.04 0.00 0.66 0.00 0.00 0.04 0.00 0.00 0.00 0.00 0.02 0.00 0.11 0.16 0.00 0.01 0.00 0.00 3.92 3.00 0.00 0.71 0.51 0.10 0.13 0.03 0.00 0.66 0.16 0.18 0.06 0.10 0.01 0.15 0.10 0.18 0.41 0.31 0.04 0.03

0.01 unch 0.03 unch 0.46 unch 0.22 + 0.84 + 0.41 0.34 0.01 + 0.09 unch 0.56 unch 0.18 + 0.08 0.11 unch 0.90 unch 0.17 + 0.08 7.17 5.49 0.12 0.28 + 0.07 + 0.65 0.13 0.33 0.30 2.11 0.00 + 0.04 0.07 + 0.66 0.01 0.05 0.04 unch 0.06 0.16 unch 0.14 + 0.05 + 0.03 + 0.03 unch 0.15 + 0.18 0.02 unch 0.01 unch 0.09 + 0.07 + 4.01 3.09 0.06 0.73 0.57 + 0.10 0.13 0.04 0.06 + 0.77 + 0.16 + 0.20 + 0.08 0.11 0.01 0.16 unch 0.11 0.20 + 0.44 0.35 0.04 0.03 unch

1.00 0.09 0.59 0.73 0.99 0.95 0.77 0.06 0.10 0.87 0.28 0.21 0.27 1.50 0.34 0.35 10.52 8.33 0.30 0.80 0.31 1.16 0.75 1.35 2.82 6.25 0.02 0.32 0.25 0.89 0.06 0.17 0.14 0.14 0.20 0.56 0.28 0.08 0.08 2.38 0.65 0.09 0.07 0.17 0.19 8.94 7.13 0.24 1.10 2.40 0.21 0.27 0.12 0.08 1.56 0.48 0.61 0.26 0.30 0.13 0.66 0.54 0.93 1.85 1.48 0.10 0.08

C 0 O 427 V 325 O 147 O 12 T 1515 O 14866 V 20 T 1298 O 6452 T 377 D 194 O 0 V 2 V 808 O 58 V 545 O 565 V 1492 C 1009 O 1 C 206 O 34 O 15 V 773 C 55 O 199 V 829 O 551 V 0 C 121 V 0 V 97 V 1166 O 735 T 2580 N 7908 V 380 O 261 O 3886 O 19 V 108 O 228 O 160 V 300 O 4 V 262 V 528 O 91 O 58 T 98 O 14038 O 0 V 8 T 272 O 92 V 986 O 15 V 39 O 99 V 122 V 145 T 813 O 534 T 13819 O 0 V 20 O 416 O 907

0.00 0.00 0.04 unch 0.00 0.10 0.03 0.31 0.28 0.29 - 0.01 1.33 0.25 0.40 0.37 0.38 unch 0.00 1.65 0.32 0.15 0.11 0.15 unch 0.00 0.24 0.02 21.30 19.50 19.69 - 1.81 41.25 19.79 27.87 25.24 25.83 - 1.98 51.00 25.82 0.47 0.37 0.41 - 0.10 1.97 0.26 0.81 0.00 0.79 - 0.03 0.99 0.48 0.45 0.39 0.44 - 0.02 1.12 0.37 0.01 0.00 0.01 unch 0.00 0.03 0.00 8.93 8.30 8.55 - 0.17 21.53 8.17 6.90 6.36 6.49 - 0.22 17.11 6.29 0.00 0.00 0.08 unch 0.00 0.15 0.08 0.11 0.00 0.08 - 0.02 0.18 0.08 1.07 0.98 1.00 - 0.04 1.15 0.43 0.81 0.75 0.76 - 0.05 0.92 0.37 0.24 0.18 0.21 - 0.03 0.72 0.18 0.18 0.13 0.16 - 0.01 0.57 0.13 4.60 3.93 4.60 - 0.11 32.85 3.65 0.12 0.07 0.11 + 0.03 0.34 0.05 0.00 0.00 0.01 - 0.21 0.96 0.01 0.27 0.24 0.24 - 0.02 0.89 0.24 0.21 0.17 0.20 + 0.02 0.80 0.17 0.04 0.03 0.03 - 0.01 0.37 0.03 0.05 0.04 0.04 - 0.01 0.32 0.04 0.78 0.68 0.77 + 0.12 3.75 0.61 0.27 0.21 0.24 - 0.01 0.83 0.18 0.37 0.28 0.31 - 0.01 1.05 0.24 0.42 0.36 0.37 - 0.04 1.10 0.37 0.00 0.00 0.40 unch 0.00 0.57 0.33 0.15 0.14 0.15 unch 0.00 0.41 0.13 0.00 0.00 0.05 unch 0.00 0.12 0.05 0.05 0.00 0.05 - 0.02 0.23 0.05 1.53 1.31 1.41 + 0.06 1.66 0.88 1.18 0.99 1.10 + 0.06 1.33 0.67 27.85 25.66 26.49 - 1.66 53.09 16.03 21.47 19.55 20.34 - 1.41 41.56 12.56 0.53 0.44 0.48 - 0.05 1.21 0.26 0.43 0.34 0.37 - 0.04 0.95 0.21 0.21 0.14 0.16 - 0.03 1.09 0.14 0.21 0.00 0.18 + 0.01 0.41 0.01 0.28 0.24 0.26 + 0.01 0.38 0.08 0.39 0.32 0.34 - 0.03 0.86 0.29 0.10 0.00 0.10 unch 0.00 0.15 0.01 0.11 0.00 0.11 - 0.02 0.18 0.08 0.05 0.04 0.04 - 0.01 0.13 0.03 0.15 0.00 0.15 + 0.03 0.30 0.12 0.05 0.05 0.05 - 0.01 0.16 0.04 0.04 0.04 0.04 - 0.00 0.13 0.03 0.29 0.23 0.24 - 0.09 0.67 0.23 0.37 0.31 0.31 - 0.07 0.86 0.31 0.03 0.02 0.02 + 0.00 1.95 0.01 11.16 0.00 11.16 - 0.24 14.00 5.55 15.00 14.10 14.20 - 0.45 17.73 6.63 0.63 0.58 0.61 + 0.02 0.78 0.50 0.05 0.04 0.05 + 0.00 0.13 0.04 0.07 0.06 0.06 - 0.01 0.15 0.05 0.13 0.00 0.13 - 0.01 0.80 0.10 0.17 0.00 0.16 - 0.01 0.80 0.15 0.30 0.27 0.30 + 0.03 0.64 0.24 0.40 0.34 0.39 + 0.03 0.81 0.31 0.32 0.27 0.30 - 0.03 0.74 0.27 8.69 7.84 7.87 - 0.47 12.73 7.96 6.20 5.10 5.58 - 0.52 11.25 5.10 7.84 6.73 7.26 - 0.66 14.00 6.73 0.00 0.00 0.01 unch 0.00 0.05 0.00 0.02 0.00 0.02 unch 0.00 0.06 0.02 5.55 4.93 5.55 - 0.20 8.63 4.22 5.53 5.00 5.49 - 0.22 8.73 4.25

0.00 0.00 0.00 0.07 0.02 0.06 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.02 0.04 0.09 0.02 0.05 0.01 0.03 0.01 0.02 0.05 0.20 0.00 0.01 0.01 0.03 0.01 0.01 0.00 0.01 0.00 0.10 0.01 0.00 0.00 0.01 0.01 0.00 0.00 0.01 0.01 0.34 0.26 0.01 0.01 0.05 0.01 0.01 0.00 0.01 0.04 0.02 0.02 0.02 0.02 0.01 0.00 0.00 0.01 0.02 0.00 0.01 0.00

0.01 0.03 0.46 0.15 0.42 0.40 0.25 0.01 0.03 0.56 0.17 0.07 0.09 0.49 0.13 0.08 5.75 4.42 0.08 0.23 0.05 0.56 0.10 0.12 0.30 1.92 0.00 0.04 0.06 0.63 0.01 0.05 0.03 0.05 0.10 0.04 0.05 0.02 0.03 0.10 0.15 0.02 0.01 0.05 0.06 4.02 3.04 0.06 0.10 0.10 0.09 0.13 0.00 0.04 0.65 0.01 0.16 0.07 0.10 0.01 0.15 0.10 0.18 0.41 0.31 0.02 0.00

L

M Macarthur Min V Macarthur Min* O 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 V Magnum Goldco V Majestic Gold V Majestic Gold* O Makara Mining* O Makara Mining C Makena Res* O Mako Mining V Mako Mining* O Mammoth Res V Mammoth Res * O Mandalay Res* O Mandalay Res T Manganese X V Manganese X* O Mangazeya Mng V

189 149 159 1794 0 0 828 7 157 33 239 36 352 30 50 90 102 185 2736 1466 139 49 33 63 804 319 249

0.19 0.15 0.02 0.02 0.00 0.00 14.86 0.30 0.32 0.26 0.30 0.09 0.04 0.05 0.03 0.04 0.05 0.14 0.27 0.21 0.04 0.03 2.14 2.84 0.26 0.23 0.04

0.00 0.13 0.01 0.00 0.00 0.00 13.60 0.18 0.29 0.22 0.24 0.00 0.00 0.00 0.03 0.03 0.05 0.12 0.22 0.17 0.00 0.02 1.69 2.15 0.21 0.16 0.04

0.17 0.13 0.02 + 0.02 0.03 unch 0.05 unch 14.03 0.30 + 0.30 0.23 0.24 0.07 + 0.04 unch 0.05 unch 0.03 unch 0.04 0.05 0.12 0.22 0.17 0.04 unch 0.03 1.70 2.21 0.22 0.18 0.04 unch

0.03 0.60 0.15 0.02 0.50 0.12 0.00 0.05 0.01 0.01 0.06 0.02 0.00 0.03 0.03 0.00 0.13 0.04 0.42 26.94 13.63 0.05 1.40 0.05 0.02 1.12 0.29 0.01 1.12 0.22 0.07 0.55 0.25 0.02 0.18 0.06 0.00 0.18 0.04 0.00 0.08 0.05 0.00 0.06 0.03 0.00 0.20 0.03 0.01 0.25 0.04 0.00 0.78 0.12 0.05 0.43 0.22 0.03 0.35 0.17 0.00 0.18 0.03 0.00 0.15 0.01 0.46 3.03 1.43 0.62 3.86 1.82 0.05 0.58 0.21 0.02 0.47 0.17 0.00 0.09 0.02

22

JULY 25 — AUGUST 7, 2022 / THE NORTHERN MINER

(100s) Stock

Exc Volume

Manitou Gold V Manitou Gold * O Manning Vent C Mansa Explor C Mantaro Prec* O Mantaro Prec V Maple Gold V Maple Gold* O Marathon Gold* O Marathon Gold T Margaret Lake V Marimaca Cop* O Marimaca Cop T Maritime Res V Martina Mnls V MartinMarietta* N Marvel Discov* O Marvel Discov V Mas Gold V Mascota Res* O Masivo Silver V Masivo Silver* O Mason Graphite* O Mason Graphite V Matachewan Con V Matica Ent C Maverix Metals T Maverix Metals* X Mawson Res* O Mawson Res T MAX Res V MaxTech Vent C MaxTech Vent* O Maxwell Res* O Mayfair Gold* O Mayfair Gold V Mazarin V McChip Res V McEwen Mng T McEwen Mng* N McLaren Res C MDN Inc* O Medallion Res V Medallion Res* O Medaro Mining C Medaro Mining* O Medgold Res* O Medgold Res V Medinah Mnrls* O Mega Copper V Mega Uranium T Mega Uranium* O MegaWatt Lith C MegaWatt Lith* O MegumaGold* O MegumaGold C Melkior Res* O Melkior Res V Meridian Mg T Meridian Mg * O Metal Energy V MetalCorp V Metalex Vent * O Metalex Vent V Metallic Mnrls V Metallic Mnrls* O Metallica Met* O Metallica Met C Metallica Min* O Metallis Res V Metallum Res V Metalo Manuf C Metalore Res V Metals Creek* O Metals Creek V Metals X* O Metron Capital V Mexican Gold* O Midasco Cap V Midland Expl V Midnight Star C Midnight Sun* O Midnight Sun V Millbank Mg V MillenMin Vent V Millennial Pr V Millennial Pr* O Millennium Sil V Millrock Res* O Millrock Res V Milner Con Slv V Minaurum Gold V Minaurum Gold* O Minco Silver* O Minco Silver T Minera Alamos * O Minera Alamos V Minera IRL C Mineral Hill V Mineral Mtn* O Mineral Mtn V Mineral Res* O Mineworx Tech* O Mineworx Tech V Minfocus Expl V Minnova Corp V Minsud Res V Mirasol Res V Mistango River C Mkango Res V ML Gold Corp V Monarca Mnrls* O Monarca Mnrls V Monarch Min* O Monarch Mining T Moneta Porcpn T Moneta Porcpn* O Mongoose Mg C Monitor Vent V Montage Gold V Montage Gold* O Montego Res C Monterey Min C Montero Mg&Ex * O Montero Mg&Ex V Monument Mng V Monument Mng* O Monumental Min V Morien Res* O Morien Res V Mosaic* N Mosaic Min C Mountain Boy* O Mountain Boy V Mountain Prov T Mountain Prov* O MPV Explor C Mundoro Cap V Mundoro Cap* O Murchison Min* O Murchison Min V Musk Metals C Musk Metals* O Muzhu Mining C

932 30 492 12 164 189 348 662 259 2494 61 0 18 2145 0 1742 426 573 274 6 173 59 827 409 20 161 231 719 86 1043 856 2 4 0 8 98 0 1 1064 13755 165 32 399 113 232 395 322 3 1124 0 2146 519 233 71 6 185 5 31 834 48 57 0 0 39 358 305 375 146 20 281 395 3 4 97 142 137 39 24 0 81 422 263 129 0 0 3051 554 18 448 136 0 600 352 67 148 916 1234 28 2 38 122 1 737 4081 0 407 26 77 80 31 109 73 60 127 140 332 188 58 0 186 100 2688 101 41 15 93 480 29 76 213 28711 609 79 118 784 342 227 311 25 197 500 332 171 245

Week High

Low

Last Change

12-month High Low

0.04 0.03 0.04 + 0.01 0.09 0.03 0.03 0.03 0.03 + 0.00 0.09 0.02 0.07 0.00 0.07 - 0.01 0.21 0.06 0.06 0.06 0.06 unch 0.00 0.28 0.06 0.09 0.08 0.08 + 0.00 0.50 0.08 0.12 0.00 0.11 - 0.01 0.39 0.10 0.18 0.17 0.17 - 0.01 0.41 0.16 0.14 0.12 0.13 - 0.01 0.33 0.12 1.11 0.92 0.94 - 0.15 2.97 0.86 1.47 1.18 1.24 - 0.16 3.73 1.12 0.18 0.00 0.17 - 0.01 0.65 0.14 0.00 0.00 2.60 unch 0.00 3.62 2.60 3.04 2.50 2.71 - 0.46 4.62 2.45 0.07 0.05 0.06 unch 0.00 0.19 0.05 0.00 0.00 0.05 unch 0.00 0.07 0.05 318.84 303.10 314.96 + 7.52 446.46 284.99 0.08 0.07 0.07 - 0.01 0.20 0.05 0.10 0.09 0.09 - 0.01 0.22 0.07 0.07 0.05 0.06 - 0.01 0.13 0.06 2.65 2.50 2.59 + 0.07 3.45 1.10 0.05 0.00 0.05 - 0.01 0.11 0.05 0.04 0.04 0.04 unch 0.00 0.08 0.04 0.29 0.21 0.25 - 0.04 0.65 0.21 0.37 0.27 0.33 - 0.05 0.78 0.27 0.25 0.00 0.24 - 0.06 0.30 0.17 0.22 0.13 0.22 + 0.08 1.20 0.13 5.51 5.16 5.47 + 0.15 6.88 5.00 4.27 3.96 4.20 + 0.09 5.45 3.83 0.09 0.08 0.08 - 0.00 0.21 0.07 0.13 0.10 0.10 unch 0.00 0.27 0.10 0.42 0.33 0.34 - 0.09 0.90 0.14 0.00 0.00 0.03 unch 0.00 0.40 0.02 0.03 0.03 0.03 + 0.01 0.30 0.02 0.00 0.00 0.19 unch 0.00 0.30 0.01 0.83 0.83 0.83 unch 0.00 2.06 0.40 1.15 1.03 1.05 - 0.13 1.61 0.49 0.00 0.00 0.14 unch 0.00 0.19 0.08 0.83 0.00 0.83 unch 0.00 1.45 0.62 0.56 0.44 0.47 - 0.06 1.58 0.44 0.43 0.33 0.36 - 0.06 1.27 0.33 0.06 0.05 0.06 unch 0.00 0.08 0.04 0.12 0.10 0.11 - 0.01 0.53 0.10 0.07 0.00 0.06 unch 0.00 0.28 0.05 0.05 0.04 0.05 - 0.00 0.23 0.04 0.34 0.25 0.32 - 0.03 1.43 0.30 0.27 0.21 0.24 - 0.01 1.81 0.21 0.02 0.01 0.01 - 0.00 0.04 0.01 0.02 0.00 0.02 + 0.01 0.04 0.01 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 0.15 unch 0.00 0.16 0.14 0.20 0.17 0.19 - 0.02 0.42 0.17 0.15 0.13 0.14 - 0.01 0.34 0.13 0.08 0.07 0.07 - 0.02 0.33 0.07 0.06 0.05 0.05 - 0.00 0.26 0.05 0.01 0.01 0.01 - 0.01 0.05 0.01 0.03 0.02 0.03 + 0.01 0.07 0.02 0.18 0.18 0.18 + 0.02 0.32 0.13 0.25 0.23 0.24 unch 0.00 0.40 0.20 0.65 0.48 0.50 - 0.11 1.34 0.39 0.47 0.41 0.41 - 0.06 1.08 0.30 0.08 0.00 0.08 - 0.01 0.25 0.08 0.00 0.00 0.03 unch 0.00 0.06 0.02 0.00 0.00 0.04 unch 0.00 0.05 0.02 0.07 0.00 0.06 - 0.01 0.08 0.02 0.38 0.34 0.37 + 0.01 0.58 0.31 0.29 0.25 0.28 + 0.00 0.47 0.24 0.02 0.02 0.02 unch 0.00 0.25 0.02 0.03 0.03 0.03 + 0.01 0.32 0.03 0.02 0.02 0.02 unch 0.00 0.03 0.02 0.17 0.14 0.15 - 0.02 0.47 0.15 0.06 0.00 0.06 + 0.01 0.12 0.05 0.12 0.00 0.12 + 0.04 0.69 0.08 2.25 0.00 2.25 + 0.05 3.16 2.15 0.10 0.08 0.09 - 0.01 0.18 0.06 0.13 0.00 0.11 - 0.02 0.23 0.10 0.23 0.21 0.21 - 0.02 0.60 0.16 0.19 0.00 0.19 unch 0.00 0.39 0.17 0.03 0.00 0.02 - 0.00 0.11 0.01 0.00 0.00 0.10 unch 0.00 0.12 0.10 0.40 0.35 0.35 - 0.03 0.74 0.35 0.28 0.24 0.24 - 0.02 0.54 0.23 0.11 0.09 0.10 + 0.01 0.32 0.00 0.14 0.00 0.14 + 0.02 0.36 0.11 0.00 0.00 0.52 unch 0.00 0.60 0.25 0.00 0.00 0.05 unch 0.00 0.05 0.05 0.30 0.22 0.26 - 0.05 0.70 0.22 0.25 0.17 0.19 - 0.04 0.94 0.17 0.01 0.01 0.01 + 0.01 0.03 0.01 0.04 0.03 0.03 - 0.00 0.07 0.03 0.05 0.00 0.05 unch 0.00 0.08 0.04 0.00 0.00 0.06 unch 0.00 0.11 0.06 0.22 0.19 0.19 - 0.03 0.45 0.19 0.18 0.14 0.14 - 0.03 0.36 0.14 0.15 0.12 0.12 - 0.02 0.41 0.12 0.19 0.00 0.17 - 0.01 0.51 0.16 0.38 0.32 0.35 - 0.02 0.58 0.32 0.49 0.42 0.46 - 0.03 0.73 0.42 0.10 0.09 0.09 - 0.01 0.11 0.07 0.20 0.00 0.20 - 0.01 0.30 0.12 0.06 0.04 0.06 + 0.00 0.20 0.04 0.07 0.00 0.07 + 0.01 0.22 0.06 31.23 0.00 31.23 + 0.38 48.27 27.13 0.05 0.03 0.03 - 0.01 0.08 0.03 0.05 0.04 0.04 - 0.01 0.11 0.04 0.00 0.00 0.10 unch 0.00 0.43 0.08 0.04 0.00 0.04 unch 0.00 0.24 0.03 0.25 0.00 0.22 - 0.03 0.37 0.04 0.60 0.00 0.53 - 0.04 0.86 0.31 0.05 0.05 0.05 + 0.01 0.23 0.05 0.29 0.00 0.29 + 0.02 0.70 0.27 0.05 0.00 0.04 - 0.01 0.14 0.04 0.02 0.01 0.02 + 0.00 0.13 0.01 0.02 0.00 0.02 - 0.01 0.16 0.02 0.31 0.28 0.28 - 0.01 0.85 0.27 0.40 0.37 0.38 + 0.01 0.99 0.37 1.64 1.43 1.55 - 0.04 2.97 1.43 1.27 1.09 1.20 - 0.03 2.36 1.09 0.19 0.17 0.19 + 0.01 0.50 0.13 0.00 0.00 0.14 unch 0.00 0.19 0.11 0.57 0.49 0.50 - 0.04 0.95 0.50 0.43 0.00 0.38 - 0.02 0.85 0.38 0.01 0.01 0.01 unch 0.00 0.05 0.01 0.26 0.21 0.22 - 0.02 1.20 0.21 0.04 0.03 0.04 + 0.01 0.11 0.01 0.05 0.00 0.05 + 0.01 0.14 0.04 0.09 0.09 0.09 + 0.01 0.16 0.08 0.07 0.07 0.07 unch 0.00 0.12 0.01 0.30 0.00 0.27 - 0.02 0.79 0.27 0.37 0.25 0.34 - 0.05 0.51 0.11 0.50 0.00 0.45 - 0.03 0.64 0.16 47.10 43.18 45.02 - 0.20 79.28 28.26 0.09 0.07 0.08 - 0.01 0.15 0.06 0.09 0.08 0.09 + 0.01 0.19 0.08 0.12 0.11 0.12 + 0.01 0.24 0.11 0.52 0.45 0.50 unch 0.00 0.99 0.40 0.40 0.34 0.39 - 0.01 0.79 0.32 0.05 0.00 0.05 - 0.01 0.71 0.04 0.17 0.00 0.14 - 0.02 0.23 0.14 0.13 0.11 0.11 - 0.02 0.18 0.11 0.07 0.06 0.07 - 0.00 0.15 0.05 0.10 0.07 0.08 - 0.02 0.17 0.06 0.05 0.04 0.04 unch 0.00 0.13 0.03 0.04 0.00 0.04 + 0.01 0.10 0.03 0.09 0.08 0.09 - 0.01 0.21 0.08

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 Nevada Sunrise*

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

120 162 97 61 2 1589 324 10 12 29 1 265 824 500 290 278 356 153 156 50 405 562

42.07 37.00 38.98 + 0.43 63.19 23.30 0.18 0.15 0.18 + 0.01 0.38 0.14 0.14 0.11 0.14 + 0.01 0.40 0.08 41.49 37.71 39.22 - 2.59 50.82 19.49 0.34 0.34 0.34 - 0.08 2.46 0.27 0.21 0.16 0.16 - 0.05 1.06 0.17 0.16 0.12 0.12 - 0.03 1.19 0.13 0.72 0.63 0.64 - 0.08 1.50 0.36 0.14 0.00 0.12 - 0.03 0.73 0.12 0.12 0.10 0.10 - 0.02 0.59 0.10 0.66 0.66 0.66 unch 0.00 1.07 0.32 0.19 0.16 0.17 + 0.01 0.99 0.16 0.26 0.20 0.21 + 0.01 2.10 0.20 0.05 0.04 0.05 + 0.01 0.22 0.04 0.04 0.03 0.03 + 0.00 0.17 0.03 0.26 0.22 0.22 - 0.03 0.50 0.21 0.33 0.29 0.30 - 0.05 0.58 0.27 0.12 0.10 0.11 unch 0.00 0.78 0.10 0.09 0.08 0.09 + 0.01 0.75 0.08 0.25 0.23 0.23 - 0.01 0.60 0.21 0.19 0.16 0.16 - 0.02 0.37 0.05 0.15 0.12 0.12 - 0.01 0.29 0.04

WWW.NORTHERNMINER.COM

(100s) Stock

Exc Volume

Nevada Zinc V 117 Nevado Res V 0 NevGold V 70 NevGold* O 81 New Age Metals V 250 New Age Metals* O 187 New Destiny Mg V 32 New Energy Met* O 26 New Energy Met V 45 New Found Gold V 281 New Gold T 16228 New Gold* X 56804 New Pac Metals T 243 New Pac Metals* X 761 New Stratus V 671 New Target Mng V 2 New Tech Min* O 21 New Tech Min C 836 New World Res* O 4 Newcore Gold V 315 Newcore Gold* O 429 Newcrest Mg T 135 Newcrest Mg* O 209 Newlox Gold C 819 Newmac Res V 0 Newmont Corp T 730 Newmont Corp* N 31157 Neworigin Gold* O 1 Neworigin Gold V 243 Newport Expl V 102 NewRange Gold* O 1600 NewRange Gold V 243 Nexa Resources* N 602 Nexgen Energy T 4211 Nexgen Energy* N 7322 NextSource Mat T 547 Nexus Gold* O 64 Nexus Gold V 23 Nfld Discovery C 14 Nfld Discovery* O 49 NGEx Minerals V 984 NGEx Minerals* O 15 Nickel 28 V 263 Nickel 28* O 115 Nickel Creek* O 194 Nickel Creek T 73 Nickel North V 72 Nickel Rock V 188 Nickel Rock* O 341 Nicola Mg Inc V 120 Nicola Mg Inc* O 115 Nighthawk Gold* O 17 Nighthawk Gold T 270 Niobay Metals V 632 Niocan Inc V 309 Niocorp Dev T 182 Niocorp Dev* O 419 Nippon Dragon V 9 Nippon Dragon* O 8 Nobel Res V 765 Nobel Res* O 33 Noble Metal V 2 Noble Mineral V 236 Noble Mineral* O 111 Noka Res* O 18 Noram Vent V 153 Noram Vent* O 254 Norra Metals V 81 Norrland Gold V 0 Norse Gold V 0 Norseman Silv V 22 Norsemont Cap C 219 Norsemont Cap* O 110 Nortec Mnls V 0 North Am Nickl V 0 North Arrow Mn V 107 North Arrow Mn* O 142 North Bay Res * O 1369254 North Peak Res* O 31 North Peak Res V 48 North Valley C 15 Northcliff Res T 114 Northern Light C 252 Northern Uran V 212 Northisle C&G V 361 Northisle C&G * O 112 Northstar Gold C 71 Northstar Gold* O 18 Northwest Cop* O 212 Northwest Cop V 1856 Norvista Cap V 12 NorZinc T 831 NorZinc* O 167 Nouveau Monde V 214 Nouveau Monde* N 427 NovaGold Res T 666 NovaGold Res* X 7252 Novo Res T 946 Nrthn Graphite V 235 Nrthn Graphite* O 129 Nrthn Lion V 0 Nrthn Lion* O 8 Nrthn Mnrls &E* O 23 Nrthn Shield V 763 Nrthn Superior V 297 Nrthn Superior* O 110 NSJ Gold C 1 NSS Res Inc C 25 Nthn Dynasty T 136 Nthn Dynasty* X 3954 Nubian Res V 82 Nubian Res* O 24 Nuinsco Res* O 80 Nuinsco Res C 461 NuLegacy Gold V 256 NuLegacy Gold* O 335 Nutrien* N 9751 Nutrien T 6599 NV Gold V 26 NV Gold* O 26 O2Gold V 343 O3 Mining V 137 OceanaGold* O 0 OceanaGold T 5162 Oceanic Iron O V 40 Oceanic Iron O* O 4 Oceanus Res V 748 Oceanus Res* O 384 Odyssey Res V 1079 Olivut Res V 32 Olivut Res* O 10 Omai Gold V 948 Omai Gold* O 258 Omineca Mining* O 154 Omineca Mining V 167 One World Lith* O 178 One World Lith C 737 Opawica Expl V 1427 Opawica Expl* O 167 Ophir Gold V 27 Ophir Gold* O 115 Optimum Vent* O 5 Optimum Vent V 44 Optimus Gold V 0 Opus One Gold V 4 Ord Mountain V 0 Orea Mining T 955 Orea Mining* O 830 Orefinders Res V 511 Orestone Mng V 201 Orex Mnrls* O 91 Orex Mnrls V 52 Orezone Gold T 429 Orezone Gold* O 149 Orford Mining V 478 Origen Res* O 25 Origen Res C 2846 Orla Mining T 1708 Oroco Res V 1012 Oroco Res* O 900 Orsu Metals V 0 Orvana Mnrls* O 12 Orvana Mnrls T 43 Osino Res* O 95 Osino Res V 216 Osisko Gold* N 4154 Osisko Gold T 1526 Osisko Metals* O 208 Osisko Metals V 1036

Week High

Low

Last Change

12-month High Low

0.08 0.00 0.07 - 0.01 0.16 0.05 0.00 0.00 0.09 unch 0.00 0.15 0.09 0.59 0.54 0.56 unch 0.00 0.85 0.35 0.47 0.40 0.43 + 0.01 0.65 0.27 0.07 0.06 0.07 unch 0.00 0.15 0.06 0.06 0.04 0.06 + 0.01 0.12 0.04 0.04 0.00 0.03 - 0.01 0.07 0.04 0.06 0.05 0.05 - 0.01 0.10 0.04 0.06 0.00 0.05 - 0.02 0.12 0.05 5.80 5.03 5.21 - 0.60 11.34 5.03 1.34 0.88 0.91 - 0.42 2.57 0.88 1.04 0.67 0.71 - 0.33 2.02 0.67 3.53 3.07 3.36 + 0.05 5.72 3.07 2.74 2.36 2.55 + 0.02 4.59 2.36 0.78 0.63 0.66 - 0.08 1.45 0.25 0.10 0.00 0.10 unch 0.00 0.21 0.10 0.04 0.00 0.02 - 0.02 0.07 0.02 0.04 0.00 0.03 - 0.01 0.08 0.02 1.34 0.00 1.24 - 0.06 4.10 1.17 0.28 0.25 0.27 + 0.01 0.73 0.25 0.22 0.19 0.22 + 0.00 0.56 0.19 17.16 16.37 16.47 - 1.00 28.00 16.45 13.19 12.19 12.64 - 0.82 21.40 12.19 0.17 0.13 0.16 + 0.01 0.61 0.13 0.00 0.00 0.29 unch 0.00 0.29 0.29 77.59 70.31 71.33 - 5.61 108.98 66.25 59.53 53.92 54.73 - 4.63 86.37 52.60 0.04 0.04 0.04 unch 0.00 0.11 0.01 0.05 0.00 0.05 - 0.01 0.16 0.05 0.43 0.42 0.42 - 0.01 0.52 0.41 0.02 0.02 0.02 - 0.00 0.15 0.02 0.03 0.03 0.03 + 0.01 0.19 0.03 5.94 4.95 5.20 - 0.69 12.86 4.95 4.97 4.47 4.80 - 0.18 8.30 4.43 3.81 3.39 3.67 - 0.19 6.56 3.39 2.19 1.73 2.13 + 0.27 4.90 1.73 0.01 0.01 0.01 - 0.00 0.06 0.01 0.02 0.00 0.02 unch 0.00 0.05 0.01 0.19 0.00 0.17 - 0.01 0.62 0.16 0.14 0.12 0.14 + 0.01 0.52 0.12 1.74 1.36 1.36 - 0.36 4.22 0.53 1.25 1.11 1.13 - 0.51 5.00 0.43 1.03 0.85 0.87 - 0.20 1.79 0.83 0.80 0.65 0.66 - 0.16 1.43 0.59 0.05 0.04 0.05 + 0.00 0.13 0.04 0.06 0.06 0.06 unch 0.00 0.16 0.06 0.05 0.00 0.04 - 0.01 0.07 0.03 0.08 0.00 0.07 - 0.02 0.23 0.06 0.06 0.05 0.05 - 0.01 0.18 0.05 0.08 0.00 0.07 - 0.01 0.14 0.07 0.05 0.05 0.05 unch 0.00 0.12 0.05 0.33 0.29 0.31 - 0.02 0.84 0.29 0.42 0.39 0.39 - 0.03 1.07 0.39 0.15 0.14 0.14 - 0.01 0.65 0.13 0.07 0.06 0.07 + 0.01 0.17 0.05 0.93 0.84 0.90 unch 0.00 1.55 0.76 0.76 0.62 0.69 - 0.01 1.25 0.59 0.02 0.00 0.02 - 0.01 0.08 0.02 0.01 0.01 0.01 unch 0.00 0.05 0.00 0.07 0.06 0.06 - 0.02 1.03 0.05 0.05 0.04 0.04 - 0.01 0.87 0.04 0.01 0.00 0.01 unch 0.00 0.02 0.01 0.06 0.05 0.06 - 0.01 0.12 0.05 0.05 0.04 0.04 - 0.01 0.14 0.04 0.24 0.23 0.23 - 0.01 0.57 0.20 0.61 0.46 0.53 - 0.09 1.05 0.46 0.50 0.35 0.39 - 0.08 0.88 0.35 0.05 0.00 0.05 unch 0.00 0.08 0.03 0.00 0.00 0.05 unch 0.00 0.39 0.05 0.00 0.00 0.04 unch 0.00 0.08 0.04 0.14 0.00 0.14 + 0.01 0.48 0.13 0.45 0.39 0.39 - 0.05 1.11 0.39 0.32 0.29 0.30 - 0.04 0.86 0.30 0.00 0.00 0.01 unch 0.00 0.06 0.01 0.00 0.00 0.58 unch 0.00 0.65 0.23 0.09 0.00 0.09 + 0.01 0.15 0.07 0.10 0.00 0.09 + 0.04 0.12 0.00 0.00 0.00 0.00 + 0.00 0.00 0.00 0.46 0.35 0.45 + 0.07 4.60 0.25 0.59 0.00 0.47 - 0.03 5.85 0.36 0.05 0.05 0.05 unch 0.00 0.10 0.05 0.05 0.00 0.05 unch 0.00 0.08 0.03 0.06 0.04 0.06 + 0.02 6.50 0.04 0.03 0.00 0.02 unch 0.00 0.09 0.01 0.22 0.18 0.20 - 0.02 0.55 0.16 0.17 0.14 0.15 - 0.02 0.46 0.01 0.10 0.09 0.09 - 0.01 0.28 0.09 0.08 0.07 0.07 - 0.01 0.22 0.07 0.24 0.19 0.24 - 0.00 0.84 0.19 0.33 0.25 0.31 - 0.02 1.10 0.25 0.05 0.00 0.05 + 0.01 0.12 0.04 0.03 0.02 0.03 unch 0.00 0.08 0.02 0.03 0.02 0.02 + 0.01 0.06 0.01 6.22 4.73 4.94 - 1.25 11.90 4.95 4.81 3.64 3.79 - 0.96 9.57 3.75 6.06 5.67 5.81 - 0.01 10.54 5.53 4.69 4.32 4.49 + 0.02 8.49 4.23 0.45 0.39 0.44 + 0.03 2.27 0.39 0.56 0.48 0.48 - 0.05 0.94 0.33 0.43 0.38 0.38 - 0.03 0.77 0.28 0.00 0.00 0.30 unch 0.00 0.43 0.16 0.23 0.23 0.23 unch 0.00 0.50 0.12 0.12 0.08 0.12 + 0.02 0.29 0.07 0.02 0.02 0.02 unch 0.00 0.07 0.01 0.44 0.38 0.40 - 0.07 1.12 0.38 0.35 0.29 0.32 - 0.04 0.91 0.29 0.11 0.00 0.11 unch 0.00 0.24 0.06 0.03 0.03 0.03 unch 0.00 0.13 0.03 0.36 0.34 0.36 unch 0.00 0.78 0.32 0.28 0.26 0.27 - 0.00 0.62 0.25 0.07 0.00 0.07 - 0.01 0.40 0.06 0.06 0.06 0.06 unch 0.00 0.30 0.06 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.02 0.01 0.01 - 0.01 0.03 0.01 0.05 0.00 0.05 - 0.01 0.13 0.03 0.04 0.03 0.04 - 0.00 0.10 0.02 77.07 70.99 73.25 - 3.01 117.25 57.08 99.76 93.43 95.39 - 3.44 147.93 72.10 0.10 0.00 0.09 - 0.01 0.20 0.08 0.07 0.06 0.07 - 0.01 0.18 0.06 0.02 0.00 0.01 - 0.01 0.27 0.01 1.81 1.68 1.68 - 0.12 2.53 1.69 0.00 0.00 1.77 unch 0.00 2.70 1.48 2.56 2.35 2.37 unch 0.00 3.41 1.79 0.08 0.00 0.08 - 0.01 0.24 0.09 0.07 0.07 0.07 - 0.00 0.16 0.07 0.29 0.24 0.27 + 0.03 0.78 0.24 0.22 0.18 0.21 + 0.02 0.64 0.18 0.08 0.00 0.06 + 0.01 0.08 0.03 0.04 0.00 0.04 - 0.01 0.08 0.03 0.03 0.03 0.03 - 0.00 0.06 0.02 0.06 0.00 0.06 + 0.01 0.15 0.05 0.05 0.04 0.05 + 0.01 0.27 0.00 0.10 0.09 0.09 + 0.00 0.26 0.07 0.13 0.11 0.12 + 0.01 0.32 0.09 0.06 0.04 0.05 + 0.01 0.09 0.02 0.07 0.05 0.06 unch 0.00 0.12 0.03 0.11 0.08 0.08 - 0.04 0.57 0.09 0.09 0.06 0.07 - 0.03 0.47 0.06 0.06 0.00 0.06 + 0.01 0.20 0.04 0.05 0.04 0.04 + 0.01 0.18 0.03 0.18 0.18 0.18 unch 0.00 0.62 0.15 0.20 0.00 0.19 - 0.01 0.80 0.19 0.00 0.00 0.11 unch 0.00 0.30 0.11 0.04 0.00 0.04 unch 0.00 0.06 0.03 0.00 0.00 0.20 unch 0.00 0.20 0.20 0.06 0.05 0.05 - 0.01 0.31 0.04 0.05 0.04 0.04 - 0.01 0.26 0.03 0.04 0.00 0.04 unch 0.00 0.08 0.03 0.03 0.00 0.03 + 0.01 0.08 0.02 0.05 0.04 0.04 - 0.00 0.11 0.04 0.06 0.00 0.06 + 0.01 0.14 0.05 1.33 1.20 1.33 + 0.10 1.81 0.99 1.02 0.92 1.02 + 0.07 1.43 0.77 0.09 0.00 0.09 - 0.01 0.27 0.09 0.17 0.17 0.17 - 0.01 0.33 0.01 0.22 0.17 0.22 unch 0.00 0.43 0.14 3.53 3.00 3.12 - 0.30 6.59 3.13 0.77 0.61 0.67 - 0.06 3.16 0.68 0.59 0.47 0.52 - 0.05 2.52 0.53 0.00 0.00 0.13 unch 0.00 0.30 0.12 0.23 0.22 0.22 unch 0.00 0.42 0.20 0.30 0.27 0.28 - 0.02 0.53 0.25 0.75 0.65 0.67 - 0.11 1.21 0.65 1.00 0.85 0.87 - 0.10 1.40 0.85 10.28 9.47 9.73 - 0.24 14.57 9.47 13.31 12.52 12.66 - 0.24 18.59 12.49 0.27 0.23 0.25 - 0.01 0.55 0.23 0.37 0.29 0.33 - 0.04 0.69 0.29

(100s) Stock

Exc Volume

Week

12-month

High

Low

Last Change

2723 10 315 342 42 44 12

2.81 0.09 0.15 0.12 0.11 0.09 11.59

2.51 0.09 0.13 0.09 0.09 0.00 10.89

2.57 - 0.17 0.09 unch 0.00 0.13 - 0.02 0.10 - 0.00 0.09 - 0.01 0.09 + 0.03 10.92 - 1.28

P2 Gold* O 120 P2 Gold V 258 Pac Arc Res V 0 Pac Bay Mnrls V 3 Pac Booker Min* O 0 Pac Booker Min V 9 Pac Imperial V 79 Pac Ridge Expl V 349 Pac Ridge Expl* O 197 Pacific Empire* O 11 Pacific Empire V 403 Pacific Silk V 0 Pacton Gold V 5 Paladin Energy* O 1001 Palamina Corp V 59 Palamina Corp* O 28 Palayan Res* O 243 Paleo Resource V 159 Palladium One* O 178 Palladium One V 601 Pampa Metals C 164 Pampa Metals* O 2 Pan Am Silver* D 10340 Pan Am Silver T 1804 Pan Global Res* O 290 Pan Global Res V 606 Pancontinental* O 803 Pancontinental V 652 Pangolin Dia V 114 Panoro Mnrls V 265 Panoro Mnrls* O 111 Pantera Silver V 61 PanTerra Gold* O 50 Pantheon Vent V 204 Para Resources V 104 Paramount Gold* X 1131 Parlane Res V 509 Pasinex Res C 143 Pasofino Gold* O 3 Pasofino Gold V 22 Patriot Gold C 166 Patriot Gold* O 121 Peabody Enrgy* N 27121 Pegasus Res* O 35 Pegasus Res V 470 Pelangio Expl* O 380 Pelangio Expl V 1937 Peloton Mnrls C 20 Peloton Mnrls* O 15 PepinNini Lith* O 7 Perpetua Res T 39 Perpetua Res* D 346 Perseus Mng T 244 Pershimex Res V 95 Pershing Res* O 169 Peruvian Metal* O 70 Peruvian Metal V 79 Petra Diamonds* O 5 Petrolympic V 56 Petrolympic* O 85 Phenom Res* O 112 Phenom Res V 55 Phoenix Global* O 21 Phoenix Metals V 252 Pine Cliff En* O 312 Pine Cliff En T 2351 Pivit Explor C 50 PJX Res V 105 Plata Latina V 0 Platinex Inc* O 17 Platinex Inc C 656 Platinum Gp Mt T 143 Platinum Gp Mt* X 1114 Plato Gold V 13 Playfair Mng V 24 Playfair Mng* O 2 PNG Copper C 173 PolyMet Mng* X 247 PolyMet Mng T 5 Portofino Res V 129 Portofino Res* O 42 Power Group V 51 Power Group* O 1 Power Metals V 347 Power Metals* O 529 PPX Mining* O 30 PPX Mining V 43 Precipitate Gl* O 264 Precipitate Gl V 441 Prime Meridian V 68 Prime Mining* O 42 Prime Mining V 1407 Prism Res V 2 Prismo Metals C 103 ProAm Expl V 0 Probe Metals* O 427 Probe Metals V 462 Prog Planet V 397 Prog Planet* O 13 Prospect Ridge C 13 Prosper Gold V 13 Provenance Gld C 450 Providence V 203 Providence Gld* O 27 Pucara Gold V 50 Pucara Gold* O 16 PUF Vent Inc * O 3021 Puma Expl V 1401 Pure Alumina* O 38 Pure Energy* O 89 Pure Energy V 52 Pure Gold Mg* O 1838 Pure Gold Mg V 2003 Purepoint Uran V 1596 Q-Gold Res* O 6 Q-Gold Res V 416 QC Copper V 727 QC Copper* O 933 QC Precious * O 5 QC Precious V 98 QcX Gold V 0 QcX Gold* O 4 QMC Quantum Ml*O 77 QMC Quantum Ml V 180 Quadro Res* O 151 Quadro Res V 57 Quantum Batt* O 0 Quantum Batt C 201 Quartz Mtn Res* O 1 Quartz Mtn Res V 22 Quebec Nickel C 1274 Quebec Silica C 578

0.33 0.40 0.00 0.07 0.00 0.88 0.02 0.38 0.29 0.03 0.04 0.00 0.30 0.44 0.12 0.09 0.05 0.02 0.12 0.16 0.24 0.16 19.13 24.85 0.33 0.42 0.04 0.05 0.01 0.12 0.09 0.12 0.04 0.09 0.33 0.49 0.05 0.03 0.48 0.62 0.05 0.04 22.00 0.20 0.05 0.03 0.04 0.06 0.05 0.30 3.85 2.96 1.42 0.04 0.05 0.07 0.11 1.08 0.08 0.06 0.33 0.42 0.48 0.07 1.14 1.50 0.06 0.13 0.00 0.03 0.05 1.81 1.39 0.03 0.08 0.05 0.06 2.81 3.62 0.07 0.05 0.02 0.02 0.18 0.14 0.03 0.03 0.06 0.07 0.06 1.11 1.46 0.08 0.23 0.00 1.23 1.58 0.32 0.22 0.27 0.27 0.09 0.06 0.06 0.06 0.06 0.05 0.25 0.01 0.53 0.68 0.13 0.17 0.07 0.06 0.07 0.16 0.12 0.08 0.14 0.00 0.00 0.16 0.23 0.03 0.03 0.00 0.39 0.22 0.25 0.12 0.04

Osisko Mng Inc Outback Gold* Outcrop S&G Outcrop S&G* Oz Lithium Oz Lithium* OZ Minerals*

T O V O C O O

Stock

5.02 0.39 0.36 0.27 0.35 1.00 21.04

Reyna Silver Rhyolite Res 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* Rockhaven Re* Rockhaven Res Rockland Res Rockridge Res Rockwealth Res Rogue Res* Rogue Res Rojo Res* Rokmaster Res* Rokmaster Res Romios Gold Rs Romios Gold Rs* RooGold* 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

V 550 V 101 V 0 V 397 O 7 V 133 O 45 V 1 V 18 O 34 N 25273 O 3 O 2 O 620 V 1630 C 10 O 129 V 204 O 351 V 36 O 42 V 167 V 1 O 0 O 24 V 58 C 181 O 3 O 19 V 7 C 591 V 190 V 179 O 0 V 0 O 310 O 138 V 293 V 347 O 191 O 246 C 209 O 666 V 1417 V 0 O 390 V 1363 V 1388 O 67 D 2466 V 98 V 10 T 0 V 267 V 119 O 21 V 219 O 25 V 229

S2 Minerals Sabina Gd&Slvr Sabina Gd&Slvr* Sable Res* Sable Res Sailfish Rylty Salazar Res* Salazar Res Sama Res Sama Res* San Lorenzo Sanatana Res* Sanatana Res Sandfire Res Sandfire Res* Sandstorm Gold Sandstorm Gold* Santacruz Silv Sarama Res Sassy Res* Sassy Res Satori Res Saturn Mnrls Savannah Min Saville Res Scandium Intl Scandium Intl* Scorpio Gold * Scorpio Gold Scotch Creek Scotch Creek* Scottie Res* Scottie Res ScoZinc Mg Seabridge Gld Seabridge Gld* Seahawk Gold Search Mnls Search Mnls* Searchlight* SearchlightRes Secova Metals* Secova Metals Sego Res Select Sands Sennen Potash Serabi Gold Sherritt Intl Shine Minerals* Shine Minerals Sibanye-Stillw* Sibanye-Stillw* Sidney Resrces* Sienna Res Sienna Res* Sierra Grande Sierra Madre G Sierra Metals Sierra Metals* Sigma Lithium* Sigma Lithium Signature Res Signature Res* Silver Bear Rs Silver Bull Re Silver Bull Re* Silver Dollar Silver Dollar* Silver Eleph Silver Grail Silver Hammer* Silver Hammer Silver One* Silver One Silver Predatr* Silver Predatr Silver Range* Silver Range Silver Sands* Silver Sands Silver Spruce* Silver Spruce Silver Valley Silver Viper* Silver Viper Silver Wolf Silver Wolf* Silver X Silver X* Silvercorp Met Silvercorp Met* SilverCrest* SilverCrest Silverton Met Silverton Met* Sirios Res Sitka Gold Sitka Gold* Sixty North Sixty North* Skeena Res SKRR Explor Sky Gold* Sky Gold Skyharbour Res Skyharbour Res* Slam Explor*

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

2.33 0.08 0.10 0.08 0.09 0.01 10.89

P-Q 0.28 0.36 0.00 0.00 0.00 0.00 0.00 0.30 0.23 0.02 0.00 0.00 0.00 0.38 0.00 0.08 0.04 0.00 0.10 0.13 0.19 0.00 17.26 22.81 0.28 0.38 0.03 0.00 0.00 0.00 0.09 0.00 0.04 0.00 0.00 0.40 0.00 0.03 0.48 0.00 0.00 0.04 19.72 0.03 0.04 0.03 0.00 0.06 0.03 0.29 3.45 2.59 1.20 0.00 0.04 0.07 0.00 1.00 0.06 0.05 0.28 0.36 0.48 0.00 1.03 1.34 0.00 0.12 0.00 0.02 0.04 1.62 1.22 0.00 0.00 0.00 0.05 2.58 3.39 0.00 0.05 0.00 0.02 0.16 0.12 0.02 0.00 0.05 0.07 0.00 0.91 1.20 0.00 0.17 0.00 0.96 1.25 0.26 0.22 0.00 0.00 0.07 0.00 0.06 0.00 0.06 0.03 0.18 0.01 0.46 0.00 0.11 0.15 0.06 0.05 0.00 0.14 0.10 0.08 0.00 0.00 0.00 0.13 0.16 0.02 0.00 0.00 0.35 0.03 0.00 0.09 0.03

0.30 0.36 0.21 unch 0.06 0.82 unch 0.72 0.02 0.31 0.24 0.03 0.03 0.03 unch 0.29 0.40 0.12 + 0.09 0.04 0.01 0.11 0.14 unch 0.20 0.16 18.27 23.79 0.32 + 0.42 + 0.03 0.05 unch 0.01 0.12 unch 0.09 0.12 0.04 0.08 + 0.30 0.44 0.05 unch 0.03 0.48 0.62 0.04 0.04 20.99 + 0.07 + 0.05 unch 0.03 unch 0.04 unch 0.06 unch 0.04 unch 0.30 3.73 + 2.89 + 1.40 + 0.04 + 0.05 0.07 unch 0.11 + 1.08 0.06 0.06 unch 0.32 + 0.42 + 0.48 0.06 1.14 1.50 + 0.06 unch 0.13 0.04 unch 0.02 0.04 unch 1.65 1.28 0.03 0.08 unch 0.02 unch 0.06 + 2.79 + 3.60 + 0.06 0.05 0.02 unch 0.02 unch 0.17 unch 0.13 0.02 0.03 unch 0.05 0.07 0.06 + 0.94 1.23 0.08 0.21 0.03 unch 1.00 1.27 0.32 + 0.22 + 0.26 + 0.25 0.08 0.05 unch 0.06 0.06 0.06 unch 0.03 + 0.19 0.01 0.48 0.62 0.12 0.15 0.06 0.05 0.05 0.15 0.11 0.08 unch 0.12 + 0.03 unch 0.02 unch 0.15 0.19 0.02 0.03 unch 0.31 unch 0.37 0.03 0.21 0.11 0.03 unch

0.01 1.60 0.28 0.04 0.83 0.34 0.00 0.21 0.14 0.01 0.16 0.06 0.00 3.90 0.43 0.13 4.99 0.53 0.01 0.06 0.02 0.05 0.58 0.10 0.04 0.47 0.08 0.00 0.05 0.02 0.01 0.06 0.02 0.00 0.04 0.02 0.01 0.71 0.26 0.02 0.80 0.27 0.01 0.36 0.11 0.00 0.36 0.08 0.01 0.32 0.03 0.01 0.04 0.01 0.00 0.26 0.08 0.00 0.32 0.11 0.01 0.58 0.19 0.02 0.40 0.09 0.65 30.56 17.26 0.70 38.51 22.81 0.02 0.70 0.02 0.02 0.87 0.36 0.01 0.13 0.03 0.00 0.17 0.04 0.01 0.03 0.01 0.00 0.21 0.11 0.01 0.18 0.08 0.01 0.34 0.07 0.00 0.07 0.04 0.02 0.23 0.05 0.01 0.44 0.24 0.02 1.10 0.40 0.00 0.21 0.03 0.01 0.07 0.02 0.03 0.97 0.46 0.03 1.19 0.60 0.01 0.17 0.04 0.00 0.13 0.03 0.09 33.29 8.02 0.03 0.20 0.01 0.00 0.11 0.04 0.00 0.12 0.03 0.00 0.16 0.03 0.00 0.12 0.03 0.00 0.09 0.03 0.01 0.73 0.21 0.11 8.88 3.45 0.09 7.11 2.59 0.02 1.88 1.11 0.01 0.07 0.03 0.00 0.09 0.01 0.00 0.18 0.02 0.02 0.22 0.08 0.09 1.80 0.02 0.02 0.10 0.04 0.00 0.08 0.04 0.03 0.68 0.25 0.05 0.81 0.35 0.03 1.29 0.34 0.02 0.41 0.05 0.02 1.63 0.27 0.02 2.05 0.33 0.00 0.35 0.03 0.01 0.23 0.12 0.00 0.04 0.02 0.01 0.05 0.02 0.00 0.07 0.04 0.08 4.64 1.57 0.07 3.72 1.20 0.01 0.04 0.02 0.00 0.25 0.07 0.00 0.29 0.01 0.01 0.17 0.04 0.10 4.79 2.41 0.09 6.15 3.05 0.01 0.17 0.06 0.00 0.14 0.05 0.00 0.09 0.02 0.00 0.06 0.02 0.00 0.34 0.16 0.01 0.27 0.12 0.01 0.50 0.00 0.00 0.05 0.02 0.00 0.13 0.05 0.01 0.17 0.07 0.02 0.14 0.04 0.19 4.15 1.00 0.19 5.24 1.26 0.01 0.22 0.07 0.02 0.42 0.12 0.00 0.10 0.03 0.22 1.85 1.00 0.28 2.33 1.30 0.07 0.60 0.25 0.02 0.48 0.19 0.01 2.75 0.23 0.05 1.89 0.25 0.02 0.18 0.07 0.00 0.09 0.05 0.02 0.16 0.04 0.01 0.22 0.06 0.00 0.19 0.05 0.00 3.14 0.03 0.05 0.64 0.18 0.00 0.02 0.00 0.05 2.11 0.47 0.07 2.60 0.63 0.01 1.19 0.11 0.02 1.50 0.14 0.01 0.17 0.06 0.01 0.15 0.05 0.01 0.19 0.04 0.02 0.47 0.14 0.01 0.37 0.10 0.00 0.23 0.08 0.01 0.30 0.10 0.00 0.17 0.02 0.00 0.12 0.02 0.02 0.30 0.12 0.02 0.36 0.16 0.00 0.08 0.01 0.00 0.11 0.02 0.00 3.24 0.25 0.01 4.10 0.33 0.19 0.29 0.00 0.03 0.39 0.18 0.01 0.41 0.09 0.00 0.23 0.03

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

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

4 1773 187 450 8 0 20 526 52 20 17 181 141 76 0 227 1423 52 624 34 360 518 0 661

0.13 0.12 0.21 0.06 0.26 0.00 0.26 0.56 0.03 0.05 0.06 0.24 0.34 0.86 0.00 0.03 0.04 0.04 0.27 0.21 0.48 0.37 0.00 0.25

0.00 0.09 0.00 0.05 0.26 0.00 0.26 0.47 0.00 0.00 0.00 0.12 0.25 0.00 0.00 0.02 0.03 0.00 0.23 0.16 0.39 0.29 0.00 0.20

0.13 unch 0.12 + 0.21 + 0.05 unch 0.26 unch 0.08 unch 0.26 unch 0.47 0.02 0.00 unch 0.05 0.19 + 0.34 + 0.77 unch 0.16 unch 0.03 0.04 0.04 + 0.25 unch 0.19 0.44 0.33 0.08 unch 0.21 -

0.00 0.03 0.03 0.00 0.00 0.00 0.00 0.08 0.01 0.00 0.02 0.03 0.06 0.00 0.00 0.00 0.01 0.01 0.00 0.00 0.04 0.05 0.00 0.01

(100s)

High Low

0.41 0.31 0.40 0.10 1.00 0.26 0.61 2.75 0.05 0.15 0.24 0.53 0.64 1.50 0.25 0.08 0.09 0.13 0.36 0.29 0.83 0.67 0.39 0.76

0.12 0.09 0.16 0.01 0.26 0.08 0.02 0.45 0.02 0.00 0.04 0.00 0.23 0.70 0.16 0.02 0.03 0.04 0.06 0.04 0.39 0.29 0.07 0.20

Exc Volume

Week High

Low

12-month

Last Change

High Low

0.30 0.27 0.28 - 0.01 0.92 0.27 0.29 0.00 0.28 - 0.02 1.70 0.28 0.00 0.00 0.05 unch 0.00 0.05 0.03 0.26 0.23 0.24 - 0.02 0.67 0.19 0.01 0.00 0.01 - 0.00 0.07 0.01 0.02 0.00 0.02 unch 0.00 0.09 0.01 0.14 0.14 0.14 unch 0.00 0.45 0.11 0.18 0.00 0.18 unch 0.00 0.56 0.10 0.04 0.00 0.04 unch 0.00 0.08 0.03 0.03 0.03 0.03 unch 0.00 0.11 0.00 58.61 53.83 55.41 - 3.70 89.51 54.22 57.60 53.34 54.58 - 3.41 89.06 53.65 65.00 0.00 62.51 - 2.49 100.31 62.63 0.14 0.11 0.11 - 0.02 0.67 0.08 0.19 0.14 0.15 - 0.02 0.85 0.12 0.45 0.00 0.45 + 0.04 0.99 0.36 0.42 0.26 0.40 + 0.08 0.80 0.26 0.12 0.00 0.12 - 0.01 0.19 0.11 0.09 0.08 0.09 - 0.01 0.15 0.08 0.10 0.00 0.09 unch 0.00 0.20 0.07 0.08 0.07 0.08 + 0.01 0.40 0.01 0.32 0.29 0.31 - 0.01 0.43 0.26 0.04 0.00 0.04 - 0.01 0.08 0.03 0.00 0.00 0.04 unch 0.00 0.06 0.03 3.64 3.20 3.29 - 0.21 7.53 3.02 4.74 4.20 4.31 - 0.22 9.38 3.76 0.05 0.04 0.04 unch 0.00 0.08 0.04 0.03 0.03 0.03 unch 0.00 0.07 0.03 0.07 0.06 0.06 - 0.01 0.12 0.00 0.08 0.00 0.08 + 0.01 0.14 0.08 0.10 0.09 0.10 + 0.01 0.26 0.09 0.07 0.00 0.06 unch 0.00 0.13 0.05 0.21 0.00 0.20 - 0.01 0.45 0.12 0.00 0.00 0.06 unch 0.00 0.10 0.05 0.00 0.00 0.06 unch 0.00 0.16 0.06 0.20 0.17 0.18 - 0.02 1.01 0.16 0.10 0.09 0.10 - 0.00 0.45 0.09 0.13 0.11 0.12 - 0.01 0.52 0.11 0.04 0.00 0.03 - 0.01 0.07 0.03 0.03 0.02 0.03 + 0.01 0.05 0.02 0.06 0.05 0.05 + 0.01 0.41 0.03 0.07 0.06 0.07 + 0.01 0.43 0.04 0.18 0.14 0.15 - 0.04 0.34 0.11 0.23 0.19 0.20 - 0.05 0.42 0.19 0.00 0.00 0.26 unch 0.00 0.26 0.26 0.03 0.02 0.02 - 0.00 0.07 0.02 0.03 0.00 0.03 - 0.01 0.10 0.03 0.05 0.00 0.05 + 0.01 0.08 0.04 0.04 0.03 0.04 + 0.01 0.11 0.03 109.57 101.10 103.40 - 4.39 147.70 92.01 0.20 0.18 0.18 - 0.06 0.35 0.16 0.01 0.00 0.01 - 0.01 0.09 0.01 0.00 0.00 0.07 unch 0.00 0.15 0.06 0.13 0.10 0.10 - 0.03 0.24 0.10 0.02 0.00 0.02 - 0.01 0.05 0.02 3.60 3.00 3.00 - 0.60 5.37 3.00 4.70 3.90 3.90 - 0.75 6.77 3.92 0.07 0.06 0.06 - 0.01 0.07 0.03 0.08 0.00 0.08 unch 0.00 0.10 0.04

S 76 1576 813 290 1043 113 118 466 281 86 137 116 63 38 165 909 7624 876 69 135 1597 312 395 0 623 703 98 222 68 368 453 17 233 2 615 2667 5 1721 53 591 3048 1174 2311 2 38 0 0 2114 7 0 2 19767 3133 365 318 12 0 254 409 1080 40 809 539 0 27 107 87 84 208 3 435 348 2276 830 216 5 26 115 34 106 421 1254 208 293 629 23 84 581 228 1059 4599 3377 1031 55 51 364 865 83 61 41 941 54 197 65 764 447 50

0.13 1.03 0.79 0.17 0.22 1.27 0.13 0.16 0.13 0.10 0.12 0.12 0.15 0.18 0.14 7.63 5.87 0.31 0.17 0.32 0.41 0.11 2.36 0.00 0.02 0.08 0.06 0.06 0.08 0.41 0.32 0.14 0.18 0.70 16.68 12.89 0.31 0.12 0.10 0.09 0.11 0.08 0.09 0.05 0.07 0.00 0.00 0.37 0.06 0.00 2.41 10.25 0.13 0.05 0.04 0.17 0.00 1.03 0.81 15.35 19.85 0.04 0.03 0.00 0.27 0.20 0.44 0.33 0.62 0.08 0.26 0.34 0.18 0.23 0.07 0.12 0.15 0.12 0.06 0.08 0.02 0.03 0.11 0.14 0.19 0.09 0.08 0.20 0.16 3.20 2.47 5.80 7.54 0.14 0.10 0.06 0.14 0.11 0.05 0.04 6.63 0.05 0.03 0.05 0.36 0.27 0.02

0.13 0.93 0.70 0.14 0.18 1.21 0.00 0.00 0.00 0.09 0.00 0.10 0.00 0.00 0.10 6.96 5.32 0.26 0.00 0.23 0.29 0.10 1.88 0.00 0.02 0.07 0.05 0.04 0.00 0.32 0.24 0.13 0.16 0.00 14.28 10.94 0.00 0.11 0.00 0.07 0.09 0.05 0.07 0.00 0.00 0.00 0.00 0.31 0.06 0.00 0.00 8.67 0.09 0.04 0.03 0.17 0.00 0.83 0.63 13.64 17.89 0.00 0.03 0.00 0.00 0.19 0.39 0.30 0.48 0.00 0.22 0.29 0.14 0.20 0.07 0.00 0.00 0.00 0.04 0.00 0.02 0.00 0.00 0.12 0.16 0.00 0.06 0.17 0.14 2.92 2.21 5.20 6.85 0.00 0.09 0.06 0.13 0.10 0.04 0.03 5.80 0.00 0.03 0.00 0.30 0.22 0.02

0.13 + 0.99 + 0.75 0.15 0.19 1.21 0.11 0.14 0.12 0.09 0.07 0.10 0.14 0.13 0.11 7.12 5.48 0.29 + 0.16 + 0.30 + 0.39 + 0.10 2.04 0.26 unch 0.02 0.08 unch 0.06 0.04 0.06 0.36 0.28 0.13 0.17 0.70 16.16 + 12.44 + 0.31 unch 0.11 0.08 0.08 + 0.11 + 0.06 0.08 unch 0.05 + 0.07 0.45 unch 0.60 unch 0.35 0.06 unch 0.08 unch 2.22 8.85 0.11 0.05 + 0.03 0.17 unch 0.74 unch 0.83 0.66 14.37 18.80 0.04 unch 0.03 0.05 unch 0.26 unch 0.20 0.42 unch 0.32 0.50 0.08 unch 0.24 0.31 0.16 + 0.22 + 0.07 unch 0.12 unch 0.15 0.10 0.04 0.07 0.02 + 0.02 0.11 0.13 0.17 0.09 + 0.08 + 0.19 0.14 3.02 2.31 5.62 7.30 0.13 + 0.10 + 0.06 + 0.14 + 0.10 + 0.04 0.04 + 5.92 0.05 unch 0.03 unch 0.05 unch 0.36 + 0.27 + 0.02 unch

0.01 0.01 0.02 0.02 0.03 0.05 0.01 0.03 0.02 0.01 0.05 0.02 0.03 0.04 0.03 0.36 0.29 0.01 0.01 0.05 0.06 0.01 0.43 0.00 0.01 0.00 0.00 0.03 0.02 0.04 0.04 0.01 0.01 0.05 1.22 0.93 0.00 0.01 0.01 0.01 0.02 0.02 0.00 0.01 0.01 0.00 0.00 0.02 0.00 0.00 2.27 1.63 0.02 0.01 0.00 0.00 0.00 0.19 0.14 1.09 1.25 0.00 0.00 0.00 0.00 0.02 0.00 0.01 0.11 0.00 0.01 0.02 0.00 0.01 0.00 0.00 0.00 0.01 0.01 0.01 0.00 0.01 0.01 0.02 0.02 0.02 0.00 0.01 0.01 0.04 0.08 0.05 0.01 0.04 0.04 0.01 0.02 0.01 0.01 0.00 0.70 0.00 0.00 0.00 0.02 0.01 0.00

0.28 1.90 1.52 0.26 0.33 1.65 0.32 0.42 0.28 0.22 0.18 0.15 0.20 0.23 0.20 11.61 9.18 0.56 0.28 0.63 0.76 0.18 4.49 0.35 0.06 0.23 0.19 0.14 0.17 0.91 2.88 0.21 0.25 0.75 28.00 22.22 0.90 0.33 0.27 0.11 0.14 0.22 0.22 0.13 0.14 0.45 1.30 0.85 0.13 0.16 5.15 20.64 0.28 0.15 0.12 0.70 0.80 3.91 3.12 19.99 25.05 0.16 0.13 0.13 1.43 1.21 0.96 0.89 4.05 0.25 0.86 1.08 0.48 0.60 0.14 0.19 0.17 0.21 0.15 0.19 0.05 0.07 0.33 0.57 0.72 0.39 0.34 0.52 0.41 6.73 5.40 10.13 12.99 0.70 0.64 0.11 0.20 0.15 0.08 0.06 17.11 0.17 0.13 0.16 0.87 0.70 0.12

0.13 0.93 0.70 0.12 0.16 1.09 0.10 0.12 0.12 0.09 0.07 0.06 0.07 0.11 0.08 6.86 5.31 0.22 0.14 0.21 0.25 0.09 1.88 0.21 0.02 0.07 0.01 0.03 0.05 0.27 0.18 0.12 0.16 0.45 14.28 10.94 0.20 0.10 0.08 0.03 0.06 0.00 0.04 0.04 0.05 0.45 0.51 0.31 0.06 0.08 0.00 8.81 0.09 0.04 0.03 0.15 0.39 0.85 0.67 5.22 6.50 0.03 0.03 0.04 0.23 0.16 0.39 0.30 0.45 0.07 0.21 0.29 0.14 0.20 0.07 0.07 0.03 0.09 0.04 0.06 0.01 0.02 0.09 0.12 0.16 0.07 0.06 0.17 0.00 2.93 2.21 5.20 6.85 0.09 0.06 0.06 0.08 0.06 0.04 0.03 5.87 0.05 0.03 0.04 0.29 0.22 0.00

GLOBAL MINING NEWS

(100s) Stock

Week

Exc Volume

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 South32* Southern Copp* Southern Emp Southern Silvr Southern Silvr* SouthGobi Res Southstone Min* 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 Stuve Gold Sulliden Mng Summa Silver* Summa Silver Sun Peak Metal Sun Summit Sun Summit* Suncor Energy Suncor Energy* Superior Gold* Superior Gold Superior Mng Superior Mng* Surge Battery* Surge Battery Surge Copper Surge Copper*

THE NORTHERN MINER / JULY 25 — AUGUST 7, 2022

High

V 142 C 104 O 3 C 1348 C 498 V 349 O 190 T 820 O 83 T 138 V 0 T 23 X 370 V 135 V 0 O 190 V 198 V 1538 V 96 O 11 V 64 O 14 N 7682 V 73 V 568 O 872 T 65 O 190 V 1 V 346 O 226 V 414 O 110 V 164 O 1 C 1301 O 813 V 0 V 110 V 18 D 11349 T 2026 T 206 C 821 O 282 V 20 O 8 V 17 V 30 O 178 O 2 O 67 V 458 V 0 O 184 T 644 O 3 O 354 T 205 O 237 V 681 O 13 V 216 V 248 O 226 T 72 O 7 V 249 O 136 O 639 C 1698 O 0 V 80 V 184 C 5 O 42 O 140 V 41 O 510 V 377 V 0 V 56 V 1036 O 792 V 675 O 24 V 28 V 134 V 6 T 857 O 260 V 423 V 0 V 446 O 75 T 36579 N 45040 O 77 V 1360 V 23 O 1607 O 238 V 303 V 556 O 93

Low

12-month

Last Change

0.03 0.00 0.03 unch 0.15 0.00 0.13 unch 0.11 0.11 0.11 unch 1.54 1.31 1.47 0.06 0.04 0.06 + 0.22 0.17 0.20 0.17 0.14 0.15 7.04 5.81 6.21 0.36 0.29 0.33 0.50 0.40 0.47 + 0.00 0.00 0.11 unch 0.70 0.00 0.63 0.57 0.50 0.50 0.11 0.00 0.11 + 0.00 0.00 0.09 unch 0.11 0.00 0.11 + 0.15 0.13 0.15 + 0.03 0.02 0.03 + 0.05 0.00 0.05 unch 0.04 0.04 0.04 + 0.53 0.43 0.53 + 2.38 0.00 2.37 50.17 44.70 46.96 0.08 0.00 0.08 + 0.21 0.18 0.19 0.16 0.13 0.14 0.21 0.00 0.21 unch 0.03 0.03 0.03 unch 0.03 0.00 0.03 unch 0.15 0.15 0.15 + 0.13 0.00 0.11 0.08 0.00 0.07 0.06 0.06 0.06 unch 0.08 0.07 0.07 0.05 0.05 0.05 unch 0.07 0.06 0.07 unch 0.06 0.05 0.06 unch 0.00 0.00 0.01 unch 0.06 0.00 0.06 unch 0.84 0.00 0.76 16.93 15.44 16.35 22.04 20.41 21.29 0.06 0.00 0.06 0.20 0.18 0.19 0.15 0.13 0.14 0.45 0.44 0.44 0.35 0.33 0.33 0.52 0.00 0.52 + 0.17 0.00 0.16 0.00 0.00 0.00 + 6.90 6.90 6.90 unch 0.08 0.06 0.08 + 0.10 0.09 0.09 unch 0.00 0.00 0.01 unch 0.13 0.11 0.11 0.17 0.14 0.15 0.02 0.02 0.02 unch 0.18 0.16 0.16 0.25 0.20 0.21 + 0.83 0.60 0.66 1.07 0.79 0.89 0.04 0.04 0.04 + 0.05 0.05 0.05 + 0.18 0.16 0.16 0.16 0.12 0.13 1.08 1.02 1.05 0.82 0.79 0.79 0.36 0.29 0.33 0.27 0.22 0.25 0.24 0.19 0.19 0.31 0.21 0.23 0.00 0.00 0.07 unch 0.08 0.07 0.07 0.21 0.16 0.20 + 0.08 0.00 0.08 unch 0.11 0.07 0.11 0.03 0.03 0.03 + 0.05 0.00 0.05 unch 0.20 0.17 0.18 0.26 0.23 0.24 0.00 0.00 0.22 unch 0.18 0.00 0.17 + 0.06 0.05 0.06 unch 0.05 0.04 0.05 + 0.31 0.00 0.30 0.28 0.22 0.22 0.40 0.00 0.40 + 0.45 0.00 0.42 0.06 0.00 0.06 unch 0.07 0.06 0.07 unch 0.44 0.38 0.40 0.57 0.50 0.52 0.00 0.00 0.14 unch 0.20 0.18 0.19 0.15 0.14 0.15 42.67 37.75 39.32 32.78 28.65 30.19 0.56 0.50 0.55 0.73 0.66 0.69 0.19 0.00 0.17 0.19 0.13 0.14 + 0.05 0.03 0.04 0.06 0.05 0.05 0.16 0.14 0.15 0.13 0.10 0.11 -

High Low

0.00 0.16 0.03 0.00 0.23 0.06 0.00 0.19 0.01 0.08 1.68 0.24 0.03 0.16 0.03 0.02 0.56 0.17 0.01 0.45 0.14 0.92 17.17 5.81 0.03 0.52 0.29 0.02 0.67 0.39 0.00 0.12 0.07 0.07 1.20 0.53 0.05 0.98 0.41 0.01 0.25 0.09 0.00 0.09 0.09 0.00 0.32 0.09 0.01 0.39 0.12 0.01 0.11 0.02 0.00 0.09 0.04 0.00 0.11 0.01 0.11 1.90 0.39 0.23 4.09 2.03 4.18 79.32 44.70 0.01 0.25 0.07 0.01 0.45 0.18 0.01 0.36 0.13 0.00 1.36 0.12 0.00 0.04 0.03 0.00 0.05 0.02 0.01 0.34 0.13 0.00 0.27 0.10 0.01 0.15 0.07 0.00 0.15 0.01 0.01 0.22 0.07 0.00 0.15 0.00 0.00 0.21 0.06 0.00 0.16 0.05 0.00 0.02 0.01 0.00 0.15 0.05 0.09 0.96 0.37 0.23 24.58 14.19 0.22 31.00 18.08 0.01 0.19 0.06 0.01 0.58 0.15 0.01 0.46 0.11 0.02 5.58 0.38 0.02 4.45 0.29 0.01 1.12 0.41 0.06 0.55 0.16 0.00 0.50 0.00 0.00 11.05 1.08 0.01 0.39 0.06 0.00 0.51 0.07 0.00 0.06 0.01 0.03 0.37 0.06 0.01 0.49 0.08 0.00 0.06 0.02 0.01 0.24 0.13 0.01 0.30 0.19 0.15 3.00 0.60 0.14 3.32 0.79 0.00 0.22 0.01 0.01 0.07 0.04 0.02 0.35 0.13 0.00 0.31 0.11 0.04 1.89 0.95 0.04 1.45 0.75 0.02 0.69 0.20 0.02 0.53 0.15 0.04 0.26 0.06 0.06 0.33 0.08 0.00 0.20 0.01 0.01 0.26 0.07 0.02 0.30 0.07 0.00 0.25 0.05 0.00 0.26 0.04 0.00 0.25 0.02 0.00 0.17 0.05 0.01 0.34 0.17 0.02 0.43 0.23 0.00 0.45 0.19 0.04 0.65 0.12 0.00 0.20 0.05 0.00 0.16 0.04 0.01 0.58 0.18 0.02 0.44 0.13 0.03 0.80 0.24 0.04 0.99 0.38 0.00 0.30 0.06 0.00 0.28 0.06 0.04 1.29 0.38 0.04 1.54 0.50 0.00 0.36 0.14 0.01 0.73 0.18 0.00 0.61 0.14 3.11 53.62 21.90 2.55 42.72 17.10 0.02 0.94 0.35 0.06 1.20 0.45 0.02 0.61 0.17 0.01 0.40 0.13 0.00 0.35 0.03 0.01 0.38 0.05 0.02 0.47 0.14 0.01 0.37 0.10

(100s) Stock

Exc Volume

Sylla Gold Syrah Res*

V O

509 90

Week High

0.15 0.89

Low

12-month

Last Change

0.00 0.12 0.74 0.80

-

0.04 0.09

High Low

0.30 0.12 2.48 0.71

T Tajiri Res V 69 Talisker Res T 633 Talisker Res* O 240 Talmora Diamd C 22 Talon Metals T 3840 Tanqueray Expl V 59 Tantalex Res C 238 Tanzanian Gold T 77 Tarachi Gold* O 178 Tarachi Gold C 721 Taranis Res V 42 Taranis Res* O 84 Tarku Res V 338 Tarku Res* O 27 Tartisan Nick C 242 Tartisan Nick* O 45 Taseko Mines* X 6145 Taseko Mines T 2232 TDG Gold V 474 Teck Res T 13 Teck Res* N 30547 Teck Res T 10352 Tectonic Metal* O 57 Tectonic Metal V 456 Temas Res* O 34 Temas Res C 154 Tembo Gold V 0 Tembo Gold* O 51 Tempus Res* O 0 Tempus Res V 60 Teras Res* O 4 Teras Res V 500 Terrax Mnrls V 207 Terrax Mnrls* O 170 Terreno Res V 0 Tesoro Mnrls* O 20 Tesoro Mnrls V 3 Teuton Res V 256 Teuton Res* O 74 Texas Mineral* O 278 Themac Res V 0 Thesis Gold V 43 Theta Gold* O 3 Thor Explor V 278 Thor Explor* O 0 Three Valley* O 85 Three Valley V 572 Thunder Mtn Gd* O 113 Thunder Mtn Gd V 25 Thunderstruck V 75 Thunderstruck* O 93 Tier One Silv V 38 Timberline Res V 163 Timberline Res* O 261 Tinka Res* O 283 Tinka Res V 269 Tintina Mines V 4 Tisdale Res V 44 Titan Mining T 112 Titanium Corp V 245 TNR Gold V 6 Tocvan Venture C 338 TomaGold V 849 Tombill Mines V 371 Tombill Mines* O 82 Tombstone Expl* O 15 Tonogold Res* O 3454 Torex Gold* O 150 Torex Gold T 1779 Torq Resources* O 17 Torq Resources V 48 Tower Res* O 691 Tower Res V 2738 Traction Uran* O 30 Traction Uran C 464 Trailbreaker* O 20 Trailbreaker V 3 Trans Canada V 70 Trans Canada* O 37 Transatlantic V 57 Transforma Res V 0 Transition Met V 82 Transition Met* O 0 Treasury Metal T 177 Treasury Metal* O 86 Tres-Or Res* O 0 Tres-Or Res V 10 Trevali Mining T 595 Tri-River Vent V 0 Trident Gold V 0 Trifecta Gold* O 13 Trifecta Gold V 0 Trillium Gold* O 106 Trillium Gold V 269 Trilogy Mtls T 135 Trilogy Mtls* X 1051 TriMetals Mng* O 69 Trinity Res* O 1 Trinity Valley* O 1 Triple Flag T 58

0.04 0.00 0.03 - 0.01 0.09 0.18 0.16 0.16 - 0.02 0.36 0.16 0.00 0.13 - 0.00 0.28 0.02 0.00 0.01 unch 0.00 0.04 0.47 0.38 0.41 - 0.07 0.89 6.07 4.89 4.99 - 0.31 20.20 0.10 0.09 0.09 - 0.01 0.19 0.49 0.00 0.43 - 0.03 0.67 0.07 0.05 0.06 - 0.00 0.22 0.08 0.06 0.07 - 0.01 0.27 0.19 0.00 0.16 - 0.03 0.20 0.15 0.13 0.14 unch 0.00 0.15 0.04 0.00 0.04 - 0.01 0.11 0.04 0.03 0.04 + 0.01 4.84 0.32 0.25 0.32 + 0.05 0.50 0.24 0.21 0.24 + 0.02 0.44 1.08 0.89 0.91 - 0.16 2.41 1.42 1.15 1.19 - 0.18 3.00 0.19 0.14 0.14 - 0.03 0.75 37.20 33.31 37.20 + 0.60 62.75 27.08 24.72 26.91 - 0.68 45.90 35.25 32.68 35.06 - 0.70 57.50 0.05 0.00 0.05 - 0.00 0.14 0.06 0.05 0.06 + 0.01 0.17 0.06 0.00 0.05 + 0.00 0.35 0.08 0.07 0.07 - 0.01 0.45 0.00 0.00 0.21 unch 0.00 0.36 0.18 0.18 0.18 unch 0.00 0.24 0.00 0.00 0.06 unch 0.00 0.42 0.06 0.05 0.05 unch 0.00 0.28 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.00 0.02 unch 0.00 0.05 0.14 0.13 0.14 - 0.01 0.29 0.11 0.10 0.10 - 0.00 0.24 0.00 0.00 0.03 unch 0.00 0.05 0.04 0.04 0.04 unch 0.00 0.05 0.04 0.00 0.04 - 0.01 0.06 1.26 1.07 1.18 - 0.07 2.53 1.38 0.85 0.93 - 0.04 2.42 1.91 1.61 1.79 - 0.10 2.55 0.00 0.00 0.05 unch 0.00 0.10 1.45 1.21 1.21 - 0.18 3.08 0.07 0.02 0.07 - 0.01 0.20 0.28 0.00 0.24 + 0.03 0.37 0.00 0.00 0.11 unch 0.00 0.72 0.02 0.00 0.02 + 0.00 0.47 0.04 0.03 0.03 unch 0.00 0.59 0.10 0.08 0.09 + 0.01 0.19 0.10 0.00 0.10 unch 0.00 0.19 0.06 0.00 0.06 unch 0.00 0.13 0.05 0.04 0.05 + 0.00 0.09 0.37 0.00 0.33 - 0.02 1.38 0.25 0.19 0.21 unch 0.00 0.39 0.17 0.14 0.16 + 0.00 0.35 0.11 0.09 0.10 - 0.01 0.19 0.15 0.00 0.13 - 0.02 0.24 0.04 0.00 0.04 unch 0.00 0.08 0.46 0.00 0.41 + 0.01 0.47 0.59 0.00 0.55 - 0.04 0.79 1.36 1.01 1.29 + 0.06 2.00 0.04 0.00 0.04 unch 0.00 0.07 0.84 0.80 0.80 - 0.06 1.56 0.07 0.05 0.06 - 0.01 0.08 0.05 0.04 0.04 - 0.01 0.24 0.04 0.03 0.04 - 0.00 0.35 0.63 0.00 0.63 + 0.33 2.39 0.08 0.05 0.08 + 0.00 0.18 7.22 6.49 6.91 - 0.11 13.65 9.43 8.54 9.03 - 0.08 17.43 0.49 0.42 0.49 + 0.06 0.85 0.64 0.00 0.64 + 0.04 1.08 0.25 0.16 0.18 - 0.03 0.31 0.31 0.22 0.22 - 0.05 0.40 0.31 0.28 0.29 - 0.01 1.00 0.40 0.35 0.38 - 0.01 1.08 0.14 0.00 0.14 - 0.02 0.38 0.19 0.00 0.19 + 0.04 0.49 0.05 0.00 0.05 + 0.01 0.17 0.03 0.03 0.03 unch 0.00 0.15 0.03 0.00 0.03 + 0.01 0.05 0.00 0.00 0.05 unch 0.00 0.20 0.13 0.00 0.10 unch 0.00 0.22 0.00 0.00 0.10 unch 0.00 0.20 0.40 0.35 0.35 - 0.05 0.90 0.31 0.27 0.28 - 0.02 0.80 0.00 0.00 0.05 unch 0.00 0.09 0.06 0.00 0.06 - 0.01 0.12 0.48 0.41 0.42 - 0.03 2.70 0.00 0.00 0.04 unch 0.00 0.04 0.00 0.00 0.16 unch 0.00 0.18 0.04 0.00 0.04 + 0.00 0.24 0.00 0.00 0.05 unch 0.00 0.10 0.19 0.17 0.17 - 0.01 0.83 0.25 0.23 0.24 - 0.02 1.03 0.90 0.00 0.89 - 0.02 2.96 0.72 0.62 0.69 - 0.04 2.37 0.13 0.11 0.13 - 0.00 0.21 0.22 0.22 0.22 unch 0.00 0.75 0.08 0.08 0.08 unch 0.00 0.12 15.81 14.40 14.70 + 0.03 20.83

0.03 0.16 0.12 0.01 0.38 4.52 0.05 0.35 0.05 0.06 0.08 0.07 0.04 0.01 0.25 0.19 0.89 1.17 0.15 28.70 19.32 24.84 0.03 0.05 0.05 0.07 0.12 0.09 0.04 0.05 0.02 0.02 0.11 0.10 0.02 0.02 0.03 1.07 0.85 1.30 0.05 1.10 0.02 0.18 0.11 0.02 0.03 0.06 0.10 0.06 0.04 0.32 0.15 0.11 0.09 0.13 0.03 0.02 0.28 0.20 0.04 0.67 0.05 0.04 0.03 0.25 0.05 6.49 8.54 0.42 0.53 0.03 0.04 0.24 0.20 0.14 0.14 0.04 0.03 0.01 0.05 0.10 0.07 0.37 0.28 0.05 0.06 0.39 0.04 0.09 0.03 0.05 0.17 0.22 0.82 0.62 0.11 0.00 0.08 10.50

(100s) Stock

Week

Exc Volume

TriStar Gold TriStar Gold* Triumph Gold* Triumph Gold Troilus Gold* Troilus Gold Troubadour Res TRU Precious TRU Precious* True North Gem* True North Gem TRX Gold* Tsodilo Res Tudor Gold Tudor Gold * Turmalina Met* Turmalina Met Turquoise HIl* Turquoise HIl TVI Pacific TVI Pacific* Tymbal Res

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

10 75 23 0 110 958 111 26 24 8 4 1375 158 386 59 94 73 5063 2095 685 44 0

U.S. Gold* D U3O8 Corp V Ubique Mineral C UC Res* O Ucore Rare Mtl V Ucore Rare Mtl* O 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* O Uravan Mnrls V USCorp* O Usha Res* O Usha Res V Val-d’Or Mg V Val-d’Or Mg* O Vale* N ValOre Metals* O ValOre Metals V Valorem Res C Valterra Res V Vanadian Enrgy* O Vanadian Enrgy V Vanadiumcorp V Vanstar Mng Rs* O Vanstar Mng Rs V Vantex Res * O Vantex Res V Vatic Vent V Velocity Mnrls V Velocity Mnrls* O Vendetta Mng V Vendetta Mng* O 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 Res* O Victory Res C Virginia Enrgy* O Virginia Enrgy V Viscount Mng V Visible Gold M V Visible Gold M* O Vision Lithium V Vision Lithium* O Visionary Gold V Vista Gold T Vista Gold* X Viva Gold* O Viva Gold V Vizsla Copper V Vizsla Silver V Volatus Cap C Volcanic Gold* O Volcanic Gold V Volt Carbon* O

185 61 157 24776 41 75 5090 25 148 164 153 249 155 103 41 1399 61383 36 831 5 6433 261 830 27586 1245 2576 356 1369 0 2 251 63 65 79 127 178150 203 273 269 0 1 508 214 304 343 30 0 50 200 1 781 492 0 90 1097 105 33 849 211 1588 209 1334 31 9 205 97 2 1051 377 47 15 718 72 6 170 965 32 90 171 192

High

Low

12-month

Last Change

0.14 0.13 0.14 + 0.09 0.09 0.09 unch 0.05 0.05 0.05 0.00 0.00 0.07 unch 0.39 0.34 0.35 0.53 0.44 0.44 0.10 0.00 0.10 0.09 0.00 0.09 + 0.07 0.06 0.07 + 0.07 0.07 0.07 unch 0.08 0.00 0.08 + 0.36 0.33 0.34 0.70 0.00 0.70 + 1.31 1.14 1.25 + 1.05 0.76 0.95 + 0.27 0.24 0.24 0.35 0.00 0.31 + 25.69 23.52 24.97 33.45 30.66 32.50 0.03 0.00 0.03 0.02 0.02 0.02 0.00 0.00 0.01 unch

High Low

0.02 0.31 0.12 0.00 0.25 0.09 0.00 0.14 0.05 0.00 0.19 0.07 0.01 0.74 0.32 0.03 0.93 0.43 0.01 0.41 0.09 0.01 0.29 0.08 0.00 0.30 0.03 0.00 0.09 0.06 0.02 0.11 0.06 0.03 0.53 0.26 0.23 1.46 0.29 0.05 2.70 1.14 0.02 2.26 0.75 0.02 0.77 0.24 0.01 0.98 0.30 0.95 31.05 9.75 1.09 38.92 12.15 0.01 0.05 0.03 0.00 0.04 0.02 0.00 0.02 0.01

U-V 4.17 0.14 0.15 0.37 0.63 0.49 0.36 0.13 0.17 0.04 0.06 0.08 0.17 0.30 0.06 0.41 18.15 0.04 0.04 3.91 1.08 1.40 0.30 3.42 0.02 1.16 3.09 2.37 0.00 0.16 0.01 0.24 0.31 0.08 0.07 13.75 0.25 0.35 0.02 0.00 0.02 0.03 0.09 0.27 0.35 0.14 0.00 0.20 0.26 0.20 0.04 0.04 0.00 0.02 6.70 0.16 0.09 0.12 7.50 9.80 0.04 0.04 0.27 0.42 0.30 0.08 0.01 0.09 0.07 0.07 0.75 0.59 0.07 0.09 0.09 1.35 0.09 0.19 0.24 0.08

3.50 0.00 0.10 0.22 0.00 0.41 0.32 0.12 0.15 0.03 0.05 0.00 0.15 0.18 0.05 0.38 16.92 0.03 0.00 3.50 0.95 1.26 0.28 3.07 0.02 1.05 2.78 2.10 0.00 0.00 0.01 0.22 0.29 0.00 0.06 12.25 0.20 0.27 0.02 0.00 0.01 0.00 0.00 0.22 0.30 0.14 0.00 0.00 0.00 0.20 0.04 0.02 0.00 0.02 5.66 0.15 0.08 0.00 6.32 8.26 0.02 0.03 0.00 0.00 0.25 0.00 0.01 0.08 0.06 0.00 0.68 0.52 0.06 0.00 0.07 1.19 0.06 0.00 0.00 0.07

3.57 0.14 unch 0.13 unch 0.27 unch 0.61 + 0.48 + 0.35 0.12 0.15 0.03 0.05 0.07 0.15 + 0.19 0.06 + 0.40 17.73 + 0.04 + 0.04 3.75 1.04 1.36 0.29 3.37 0.02 + 1.09 2.93 2.25 0.02 unch 0.16 + 0.01 0.22 0.29 0.08 0.06 unch 12.65 0.23 + 0.33 + 0.02 0.02 unch 0.02 + 0.02 unch 0.09 0.22 0.30 0.14 unch 0.18 unch 0.20 + 0.25 0.20 + 0.04 unch 0.03 + 0.12 unch 0.02 6.70 + 0.16 + 0.08 0.10 6.54 8.53 0.02 0.03 0.25 + 0.33 0.25 0.08 0.01 unch 0.08 0.06 0.07 0.71 0.54 0.07 + 0.09 + 0.07 1.26 0.09 + 0.17 0.23 unch 0.08 +

0.50 11.63 3.50 0.00 0.70 0.11 0.00 0.15 0.05 0.00 20.97 0.22 0.08 1.25 0.53 0.06 0.99 0.40 0.01 0.60 0.24 0.01 0.34 0.11 0.01 0.45 0.13 0.00 0.12 0.01 0.00 0.12 0.05 0.01 0.15 0.06 0.00 0.84 0.06 0.02 0.92 0.17 0.01 0.25 0.01 0.00 1.15 0.34 0.11 39.25 16.41 0.01 0.15 0.01 0.01 0.15 0.04 0.22 8.25 2.60 0.05 2.15 0.95 0.05 2.72 1.26 0.01 0.83 0.28 0.05 6.60 1.89 0.00 0.07 0.01 0.05 4.43 1.00 0.22 7.31 2.76 0.18 5.95 2.10 0.00 0.55 0.01 0.01 0.65 0.11 0.00 0.05 0.00 0.00 0.34 0.19 0.01 0.40 0.25 0.01 0.21 0.07 0.00 0.29 0.03 1.60 23.15 11.16 0.01 0.50 0.16 0.04 0.63 0.22 0.01 0.18 0.02 0.00 0.05 0.02 0.00 0.10 0.01 0.00 0.13 0.02 0.01 0.65 0.08 0.04 0.60 0.22 0.05 0.73 0.30 0.00 0.20 0.00 0.00 0.26 0.16 0.04 0.31 0.15 0.01 0.48 0.25 0.00 0.40 0.18 0.00 0.08 0.04 0.01 0.07 0.01 0.00 0.12 0.12 0.00 0.11 0.02 0.04 11.54 0.94 0.01 0.27 0.03 0.01 0.14 0.06 0.02 0.20 0.04 0.98 16.22 6.32 1.20 19.90 8.30 0.00 0.11 0.02 0.01 0.14 0.03 0.00 0.79 0.14 0.01 0.98 0.18 0.04 0.50 0.23 0.02 0.21 0.07 0.00 0.25 0.01 0.01 0.34 0.07 0.00 0.27 0.05 0.01 0.23 0.05 0.05 1.39 0.68 0.05 1.12 0.52 0.01 0.18 0.06 0.01 0.22 0.08 0.01 0.70 0.07 0.03 3.45 1.19 0.03 0.17 0.02 0.02 0.55 0.03 0.00 0.67 0.23 0.01 0.17 0.06

(100s) Stock

Exc Volume

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

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

57 117 4 430 242 128 1 88 268 187 1942 941 607

Week

23

12-month

High

Low

Last Change

0.10 0.11 0.08 0.11 0.30 0.08 0.31 0.11 0.14 0.34 0.42 0.09 0.07

0.00 0.00 0.06 0.09 0.29 0.00 0.31 0.09 0.12 0.22 0.31 0.07 0.05

0.10 + 0.11 unch 0.06 0.09 0.29 unch 0.08 + 0.31 unch 0.09 0.12 0.29 + 0.38 + 0.07 unch 0.05 -

0.01 0.00 0.02 0.02 0.00 0.02 0.00 0.01 0.01 0.06 0.09 0.00 0.01

High Low

0.19 0.27 0.25 0.20 0.50 0.23 0.36 0.42 0.52 0.35 0.42 0.30 0.50

0.07 0.10 0.00 0.08 0.29 0.03 0.30 0.08 0.12 0.10 0.17 0.07 0.05

W-Z Walker River V 1532 Wallbridge Mng* O 855 Wallbridge Mng T 2681 Waraba Gold C 451 Warrior Gold* O 9 Warrior Gold V 110 Waseco Res V 81 Wealth Mnrls V 175 Wealth Mnrls* O 223 Wedgemount Res C 21 Wescan Gldflds* O 5 Wescan Gldflds V 1 Wesdome Gold* O 743 Wesdome Gold T 2428 West High Yld V 117 West Mining* O 23 West Mining C 1221 West Oak Gold C 25 West Red Lake* O 43 West Red Lake C 704 West Vault V 19 Western Alaska V 84 Western Atlas V 190 Western Copper T 492 Western Copper* X 547 Western Gold V 5 Western Mag* O 3885 Western Mag V 1093 Western Potash T 61 Western Res* O 28 Western Troy C V 0 Western U&V C 187 Western U&V* O 98 Westgold Res* O 19 Westhaven Gold V 544 Westhaven Gold* O 83 Westkam Gold* O 0 Westkam Gold V 0 Westminster Rs V 31 Westward Gold C 659 Wheaton Prec T 5427 Wheaton Prec* N 12824 White Energy* O 59 White Gold* O 224 White Gold V 283 White Metal R* O 2 White Metal Rs V 502 White Mtn Engy* O 228 Whitehaven Coa* O 288 Whitehorse GC V 253 Wildsky Res* O 5 Wildsky Res V 89 Winshear Gold V 1 Winston Gold* O 139 Winston Gold C 123 Winston Res C 4349 Wolfden Res* O 50 Wolfden Res V 256 Wolfeye Res V 157 World Copper V 153 Worldwide Res V 0 X-Terra Res V 735 X-Terra Res* O 50 Xanadu Mines T 2385 Xander Res V 104 Xander Res* O 40 Ximen Mining* O 11 Ximen Mining V 372 Xplore Res V 24 Xtierra Inc V 35 Xtra-Gold Res T 38 Xtra-Gold Res* O 53 Yamana Gold T 7481 Yamana Gold* N 76898 Yanzhou Coal* O 4 Yorbeau Res T 168 York Harbour V 386 York Harbour* O 51 Zacatecas Silv V 115 Zacatecas Silv* O 105 ZEB Nickel V 2 Zena Mining V 207 Zephyr Mnls V 1 Zimtu Capital V 216 Zincore Mtls V 114 ZincX Res V 115 ZincX Res* O 24 Zonte Metals V 141 Zonte Metals* O 8

0.06 0.05 0.05 - 0.01 0.14 0.04 0.15 0.12 0.12 - 0.03 0.57 0.12 0.19 0.16 0.16 - 0.03 0.67 0.16 0.10 0.10 0.10 unch 0.00 0.20 0.01 0.02 0.02 0.02 unch 0.00 0.07 0.01 0.07 0.00 0.07 + 0.02 0.09 0.04 0.02 0.00 0.02 unch 0.00 0.05 0.02 0.32 0.29 0.30 - 0.01 0.70 0.21 0.25 0.23 0.24 - 0.01 0.56 0.16 0.10 0.07 0.07 - 0.03 0.65 0.07 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.10 0.00 0.10 - 0.01 0.12 0.04 8.74 6.78 7.50 - 0.92 13.23 7.77 11.34 8.82 9.76 - 1.13 16.77 9.76 0.42 0.33 0.34 - 0.06 1.22 0.25 0.04 0.03 0.04 + 0.01 0.17 0.03 0.05 0.04 0.05 unch 0.00 0.20 0.04 0.10 0.10 0.10 unch 0.00 0.19 0.10 0.04 0.03 0.03 + 0.01 0.07 0.03 0.05 0.04 0.04 unch 0.00 0.09 0.04 1.12 0.00 1.07 + 0.04 1.49 0.90 2.00 1.59 1.80 + 0.21 2.08 0.70 0.05 0.00 0.05 - 0.01 0.13 0.05 1.79 1.66 1.66 - 0.12 3.00 1.63 1.39 1.25 1.27 - 0.12 2.40 1.25 0.15 0.00 0.15 - 0.03 0.35 0.12 0.19 0.12 0.16 - 0.03 0.76 0.12 0.24 0.16 0.20 - 0.04 0.96 0.16 0.30 0.00 0.27 - 0.02 0.48 0.15 0.23 0.23 0.23 unch 0.00 1.88 0.07 0.00 0.00 0.05 unch 0.00 0.23 0.05 1.29 1.01 1.27 + 0.05 4.18 1.01 0.98 0.80 0.98 + 0.03 3.28 0.80 0.83 0.77 0.80 - 0.03 1.74 0.77 0.38 0.32 0.32 - 0.07 0.75 0.33 0.28 0.25 0.25 - 0.04 0.60 0.25 0.00 0.00 0.07 unch 0.00 0.17 0.07 0.00 0.00 0.10 unch 0.00 0.21 0.09 0.08 0.00 0.06 - 0.01 0.35 0.06 0.10 0.07 0.08 - 0.01 0.22 0.07 46.53 43.51 44.04 - 1.55 65.45 43.51 35.96 32.92 33.80 - 1.39 51.91 32.92 0.01 0.01 0.01 + 0.00 0.12 0.00 0.31 0.28 0.29 - 0.02 0.66 0.28 0.40 0.36 0.38 - 0.02 0.85 0.36 0.03 0.03 0.03 unch 0.00 0.11 0.01 0.09 0.05 0.08 + 0.03 0.12 0.04 0.02 0.01 0.02 + 0.00 0.05 0.01 3.90 3.44 3.86 + 0.37 3.98 1.51 0.53 0.00 0.52 unch 0.00 1.50 0.42 0.17 0.17 0.17 unch 0.00 0.25 0.01 0.17 0.00 0.17 unch 0.00 0.24 0.11 0.07 0.00 0.07 + 0.01 0.13 0.05 0.02 0.02 0.02 - 0.00 0.07 0.02 0.03 0.02 0.02 - 0.01 0.09 0.02 0.07 0.04 0.04 - 0.03 0.61 0.04 0.16 0.15 0.15 - 0.01 0.28 0.00 0.23 0.00 0.23 + 0.03 0.29 0.15 0.15 0.13 0.14 + 0.01 0.59 0.12 0.29 0.27 0.27 - 0.03 1.05 0.26 0.00 0.00 0.04 unch 0.00 0.07 0.04 0.02 0.00 0.02 - 0.01 0.09 0.02 0.02 0.02 0.02 unch 0.00 0.10 0.01 0.03 0.02 0.02 - 0.01 0.05 0.02 0.07 0.00 0.07 + 0.01 0.23 0.06 0.05 0.00 0.05 + 0.01 0.18 0.04 0.11 0.08 0.08 - 0.05 0.24 0.07 0.17 0.11 0.11 - 0.05 0.30 0.09 0.06 0.00 0.05 - 0.01 0.09 0.04 0.03 0.00 0.03 - 0.01 0.07 0.02 0.98 0.00 0.91 - 0.02 1.22 0.84 0.75 0.00 0.69 - 0.06 0.98 0.65 6.45 5.75 5.95 - 0.24 8.05 4.78 4.98 4.40 4.57 - 0.21 6.40 3.70 3.20 2.82 2.82 - 0.38 3.52 1.35 0.04 0.00 0.04 - 0.01 0.07 0.03 0.85 0.72 0.80 - 0.04 1.49 0.25 0.64 0.52 0.64 + 0.03 1.25 0.03 0.66 0.54 0.56 - 0.08 1.33 0.52 0.50 0.43 0.43 - 0.08 2.02 0.43 0.17 0.00 0.17 unch 0.00 0.75 0.12 0.10 0.00 0.10 - 0.05 0.20 0.08 0.14 0.00 0.14 unch 0.00 0.18 0.12 0.11 0.00 0.11 + 0.01 0.30 0.10 0.05 0.00 0.01 - 0.04 0.05 0.01 0.12 0.00 0.11 unch 0.00 0.19 0.10 0.10 0.09 0.09 - 0.01 0.15 0.08 0.14 0.00 0.14 unch 0.00 0.24 0.13 0.10 0.03 0.10 unch 0.00 0.18 0.03

BID-ASK — JULY 11 –15, 2022 12-MONTH STOCK

Athena 55 North Aftermath Silv Alacer Gold Amilot Capital Aquila Res Arctic Fox Ven 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 Canamera Energ Cerro de Pasc Cirrus Gold Cliffs Nat Res* Colibri Res Corvus Gold* Crystal Peak DeepRock Min Electra Stone Emperor Metals Equitorial Ex Everton Res Evolution Glob Evolving Gold Excalibur Res Exploits Disc Explorex Res Finore Mng GAR Limited

EXC

BID

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

0.07 0.02 0.24 9.41 ... ...

0.13 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 0.21 ...

0.20 1.45 ... ...

0.01 0.04 0.01 0.09 0.08 0.10 0.50 0.30 0.09 ... ...

0.12 ...

ASK

0.14 0.03 0.25 9.52 ... ...

0.25 0.03 0.03 0.04 0.40 0.14 0.06 ... ...

2.19 0.23 0.11 0.20 0.05 0.15 ...

0.17 0.06 ... ...

0.35 3.20 ... ...

0.02 0.04 0.02 0.11 0.08 0.10 4.00 0.59 0.10 ...

6.50 0.12 ...

LAST

12-MONTH

HIGH

LOW

STOCK

0.07 0.30 0.02 0.09 0.25 0.33 9.47 10.82 0.04 0.08 0.09 0.14 0.13 0.20 0.03 0.03 0.03 0.03 0.04 0.40 0.14 0.15 0.05 0.47 0.47 0.04 0.15 2.01 2.50 0.20 0.23 0.11 2.10 0.17 0.03 0.10 0.28 0.11 0.15 0.16 0.05 0.08 0.34 0.50 0.29 0.34 0.30 0.30 1.43 7.17 0.07 0.14 3.21 3.30 0.01 0.10 0.04 0.10 0.01 0.10 0.29 0.08 0.03 2.00 0.35 0.69 0.10 0.11 0.59 0.62 2.85 9.50 0.11 0.15 4.13

0.05 0.02 0.05 3.50 0.04 0.06 0.12

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

0.02 0.03 0.03 0.42 0.03 0.82 0.12 0.10 0.01 0.03 0.05 0.32 0.12 0.12 0.98 0.07 2.96 0.01 0.03 0.08

0.34 0.01 0.13 2.85 0.13

EXC

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

BID

... ...

0.06 0.15 0.07 0.07 0.02 ...

0.10 ... ...

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

0.20 0.24 0.17 0.47 ...

0.05 0.04 0.03 ...

0.07 ...

0.31 ...

12.52 0.03 0.05 ... ...

0.05 0.37 ...

0.09 0.01 ...

0.01

ASK

... ...

0.06 0.17 0.08 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 ...

0.12 ...

0.34 ...

13.30 0.03 0.06 ... ...

0.05 0.50 ...

0.10 0.02 ...

0.01

LAST

HIGH

0.11 100.00 0.22 0.28 0.06 0.16 0.36 0.08 0.11 0.08 0.14 0.02 0.02 0.32 0.32 0.10 0.15 0.42 0.45 0.11 1.20 0.02 0.04 0.04 0.17 0.01 0.03 0.09 0.17 0.31 0.26 0.33 0.24 0.28 0.24 0.28 0.48 0.73 38.92 46.98 0.05 0.13 0.04 0.10 0.03 0.16 1.09 0.12 0.16 0.24 0.27 0.31 0.66 0.13 0.24 12.52 14.40 0.03 0.40 0.06 0.08 2.25 5.19 0.08 0.17 0.05 0.16 0.37 0.48 0.12 0.20 0.10 0.10 0.01 0.05 0.30 0.01

12-MONTH

LOW

STOCK

0.10 0.18

Nexco Res North Valley O2Gold Orocobre Otso Gold Patriot Batt Phenom Res Primary Energy Prospero Silvr QNB Metals Quaterra Res Quinto Res Rain City Raindrop Vent Rare Element* Razore Rock Res Reliant Gold Rockex Mng Rockland Mnls Samco Gold Sierra Grande Silver Phoenix Silverstock Southern Arc Southstone Min Sphinx Res Standard Lith Supernova Met Tiger Intl Trench Metals TriMetals Mng Trinity Valley Vale* ValOre Metals Victory Nickel West Oak Gold Whitemud Res Winshear Gold Xiana Mng Zara Res Zinc One Res Zinco Mng

0.12 0.04 0.08 0.02 0.26 0.02 0.06 0.48 0.02

0.09 0.20 0.04 0.16 0.20 31.72 0.04 0.03 0.02 0.07 0.13 0.24 0.09 6.12 0.02 0.04 1.88 0.05 0.04 0.37 0.07 0.02 0.01

EXC

BID

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

...

0.05 0.23 ...

0.04 0.09 0.68 ...

0.55 0.06 0.15 0.05 0.05 0.25 0.11 0.08 ...

0.03 0.07 ...

0.15 0.30 0.15 0.32 0.01 0.01 6.65 0.05 ...

0.55 0.11 ... ...

0.06 0.02 0.06 0.01 0.12 0.07 ... ...

0.05

ASK

...

0.06 0.27 ...

0.04 0.10 0.71 ...

1.18 0.17 0.17 0.07 0.10 0.25 0.16 0.15 0.10 0.04 0.08 ...

0.30 0.38 0.20 0.90 0.01 0.01 6.95 0.06 0.17 0.55 0.12 ... ...

0.07 0.03 0.10 0.02 0.14 0.08 ... ...

0.07

LAST

HIGH

0.30 0.05 0.10 0.23 0.37 8.28 9.30 0.04 0.09 0.10 0.18 0.69 0.76 0.17 0.82 0.56 1.35 0.12 0.25 0.16 0.30 0.08 0.05 0.10 0.26 1.00 0.15 0.89 0.08 0.16 0.02 0.03 0.05 0.08 0.11 0.05 0.05 0.17 0.70 0.31 0.59 0.20 0.29 0.89 0.93 0.01 0.04 0.01 0.02 6.95 6.95 0.06 0.15 0.15 0.55 0.22 0.12 0.12 0.04 0.14 10.24 11.10 0.07 0.13 0.02 0.04 0.10 0.19 0.02 0.03 0.14 0.15 0.08 0.08 0.07 0.22 0.67 0.88 0.05

LOW

0.05 0.06 3.89 0.03 0.08 0.24 0.16 0.51 0.05 0.06 0.01 0.26 0.06 0.08 0.03 0.01 0.05 0.15 0.23 0.12 0.24 0.01 0.01 1.02 0.07 0.04 0.03 0.04 6.57 0.07 0.01 0.10 0.01 0.05 0.08 0.07 0.40

24

JULY 25 — AUGUST 7, 2022 / THE NORTHERN MINER

WWW.NORTHERNMINER.COM

SPONSORS

SEPTEMBER 8, 2022 | 10:30AM PT FAIRMONT PACIFIC RIM VANCOUVER, BC

GUEST SPEAKERS ANDREE ST-GERMAIN

Chief Financial Officer Integra Resources Corp.

ROBERT QUARTERMAIN Former Chairman/Founder Pretivm Resources Inc.

RESERVE

YOUR TICKETS ONLY 100 TICKETS AVAILABLE

The Northern Miner, The Canadian Mining Hall of Fame and Young Mining Professionals, have come together to organize the Mining Legends Speaker Series. Taking place in Vancouver, BC on September 8th, 2022, this luncheon event will bring together select professionals from across the industry to share knowledge, network, and discuss the future of mining.

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