The Northern Miner May 28 2018 Issue

NEVSUN: TURNS DOWN US$1.5B PROPOSAL FROM LUNDIN AND EURO SUN / 3 Geotech_Earlug_2016_Alt2.pdf 1 2016-06-24 4:27:20 PM

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CANADIAN GOLD

Gold prospects shine across the nation / 9–14

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Rio2 to merge with Atacama Pacific M&A |

Mine builder Alex Black will lead new firm

Guyana Goldstrike trenches Marudi ahead of drilling GUYANA

| Funded by $3.2M strategic investment by Zijin

BY RICHARD QUARISA

G

rquarisa@northernminer.com

uyana Goldstrike (TSXV: GYA) has completed preliminary mapping, trenching and sampling at the Paunch area on its Marudi gold project in Guyana’s Guiana gold belt — phase one of its 2018 exploration program.

The Paunch area is 1 km north of Goldstrike’s Marudi camp and accessible by road. It is 1.5 km north of the company’s Mazoa Hill gold target and 1 km east of its Marudi North zone. So far, the company has dug 166 metres across 12 trenches See GUYANA / 16

The planned pit areas at Atacama Pacific Gold’s Cerro Maricunga gold project in Chile. RIO2

BY TRISH SAYWELL tsaywell@northernminer.com

A

lex Black and his team have built two mines in Peru — La Arena and Shahuindo — and in the process nurtured Rio Alto Mining from a $12-million company in 2009 to a $1.2-billion company at the time of its acquisition in 2015 by Tahoe Resources (TSX: THO; NYSE: TAHO).

Since then the mining engineer has looked at more than 60 projects and companies for his new enterprise, Rio2 (TSXV: RIO), and the president and CEO says he has finally found what he’s looking for in Atacama Pacific Gold’s (TSXV:

ATM) Cerro Maricunga gold project in Chile — one of the largest undeveloped oxide gold deposits in the Americas.

In mid-May, Rio2 and Atacama Pacific announced plans to merge their two companies in an allshare deal — Rio2’s first material transaction.

Cerro Maricunga, in the northern end of Chile’s Maricunga mineral belt, is 20 km south of Kinross Gold’s (TSX-K; NYSE: KGC) La Copia silver-gold mine.

“What we see here is a project that is analogous to what we built in Peru at La Arena, a low-grade, disseminated gold deposit,” Black says in a telephone interview from his home in Lima, where he has lived for the last 18 years. “This

deposit is much bigger and should be a more lucrative asset than La Arena looked like at the beginning.”

Both deposits have a similar grade of 0.4 gram gold per tonne, but at La Arena, Black and his team started with a resource of just under 900,000 oz. gold, while at Cerro Maricunga they will start with more than 3 million oz. gold in resources (based on a 2014 prefeasibility study by Atacama Pacific).

“We’ve got a good base to start from, and it ticked all the technical boxes in our due diligence,” Rio2’s Black says. “What the Rio2 team is good at is starting mines very cost effectively, with a focus on minimizing capex. The big guys all look at multi-hundreds of

thousands of ounces per annum and try to bring up the biggest possible project and inevitably come up with huge capex — that’s not us.

We’ve been successful at starting projects small, and then financing expansion through cash flow.”

A case in point is Shahuindo, which was a much larger project than La Arena. Black and his team kick-started that project and brought it into production as a runof-mine producer. When Tahoe took it over it built a staged crushing, agglomeration heap-leaching scenario.

Black says the project Rio2 builds at Cerro Maricunga will differ from the 2014 prefeasibility study,

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Atacama Pacific Gold’s Cerro Maricunga gold project in Chile. RIO2

Rio2 to merge with Atacama Pacific RIO2 From 1

which was based on a gold price of US$1,350 per ounce. That study estimated annual production of 281,000 oz. gold over the first eight years and US$683 per oz. life-ofmine cash costs, and US$941 per oz. all-in sustaining costs. Capex of US$399 million could be paid back in three years.

“The prefeasibility study [PFS] numbers need to be looked at as just a snapshot at that time,” Black says.

“We plan to review and optimize the PFS numbers post-closing of the transaction — we’ve already done that internally as part of the technical due diligence for the asset — and we hope to show a very, very strong project.

“Cerro Maricunga is a great project and it will look completely different in our hands,” he continues.

“It will be the next gold project built in the Maricunga region — ahead of any other projects belonging to majors in the area.”

Carl Hansen, Atacama Pacific’s president and CEO, describes the proposed business combination as a “perfect match” for the two companies.

“We are explorers and we’ve been very fortunate to have discovered Cerro Maricunga,” he says. “Rio2 brings an experienced management team that has a proven history in building and operating heap-leach mines in South America.”

Rio2 will take a hands-on approach to optimizing the project in terms of capital requirements and on the operations side, Hansen says, noting that Atacama Pacific’s

game plan was always to bring in a build team.

“We’re quite pleased. They have a very strong and dedicated management team that takes a realistic and practical view to mine development.”

Hansen’s 25-year career as a geologist includes cofounding Andina Minerals in 2003 with Albrecht Schneider, Atacama’s executive chairman.

“When we were forming Andina, Albrecht identified an opportunity and negotiated the agreement to acquire the Volcan property, which at the time was essentially just the small East Zone, which had been drilled by Homestake,” Hansen says. “A year or two later our group discovered the major West Zone.”

Andina was acquired by Hoschild Mining in 2012 for US$103 million in cash.

As for Cerro Maricunga, Hansen says, there is a large alteration system around it that looked quite attractive, so when another company dropped the concessions, Schneider staked them and started a sampling program.

“Initial results were very disappointing and there were thoughts of dropping the property,” Hansen recalls. “But first, Albrecht directed the geologists to go to the top of Cerro Maricunga — and as they were walking up, well almost climbing, as it’s quite steep — they started seeing grey-banded, quartz-vein f loat, and at the top, eventually found the source of the veining.

That was the discovery.”

Atacama Pacific has a history of exploration in Chile, and several

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“IT WILL BE THE NEXT GOLD PROJECT BUILT IN THE MARICUNGA REGION — AHEAD OF ANY OTHER PROJECTS BELONGING TO MAJORS IN THE AREA.” ALEX BLACK PRESIDENT AND CEO, RIO2

members of its management team — including Hansen and Schneider — worked with TVX Gold, which owned the La Coipa mine before it was sold to Kinross.

Atacama went public in late 2010 and has completed over 105,000 metres of drilling on the project.

In Atacama Pacific’s case, Black says, you’ve got a junior company “run by some very good exploration geologists who discovered the deposit many years ago, but don’t have any way of determining how to get Cerro Maricunga into production.”

A lot of junior companies rely on consultants to tell them what mine to build, and that’s not ideal because consultants are only as good as the people they have working for them, Black adds.

“This project has been around a long time, and what we’re going to do is relaunch and reposition the story on the basis of the fact that this will be one of only a few new gold-development stories in the market,” Black says.

“One of the challenges we see is that the gold business is being pummelled, not necessarily because of metal prices, but because of the poor performance of most gold companies and the low rates of return they’ve given shareholders over many years, so it’s kind of nice being a new player in that market and offering a real value opportunity.”

Management will also have skin in the game, he says.

Once the transaction closes, management and directors will own 33% of Rio2.

Under the terms of the proposed

Alex Black, Rio2 president and CEO, with gold from the La Arena mine in Peru after its first pour. RIO2

business combination announced on May 14, each Atacama Pacific shareholder will receive 0.6601 shares of the combined company for each Atacama Pacific common share held, and each Rio2 shareholder will receive 0.6667 shares of the combined company for each Rio2 common share held.

The exchange ratio represents consideration to Atacama Pacific shareholders of 95¢ per Atacama Pacific common share based on the closing price of Rio2 common shares of 96¢ per share on the TSX Venture Exchange on May 11. That value implies a 58% premium over the May 11 closing price of Atacama Pacific’s common shares of 60¢ and a 45% premium calculated on the 20-day, volume-weighted average

price of each respective company.

Once completed, (and after a concurrent $10-million private placement arranged by Rio2), the combined company would have 102 million basic common shares outstanding. About 42.5% of the fully diluted, in-the-money shares of the combined entity will be held by former Rio2 shareholders, and 57.5% will be held by Atacama Pacific shareholders.

“Cerro Maricunga will form a strong base for the company, as we continue to look at other possible acquisitions,” Black says.

“This is a great project. It suits our company very well, and it’s a good stepping stone to transforming Rio2 into a multi-asset, precious metals company.” TNM

2018-05-22 6:12 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 28–JUNE 10, 2018

3

Nevsun rejects $1.5B Euro Sun, Lundin Mining proposal COPPER-GOLD  

| Joint proposal puts Nevsun ‘in play,’ analyst says

BY TRISH SAYWELL tsaywell@northernminer.com

N

evsun Resources (TSX: NSU; NYSE-AM: NSU) is rejecting an unsolicited proposal by Euro Sun Mining (TSX: ESM) and Lundin Mining (TSX: LUN) that it says lacks adequate value and has a problematic structure.

The mining company argues the cash-and-share proposal undervalues its high-grade, copper-gold Timok project in Serbia and overvalues Euro Sun’s Rovina Valley gold-copper porphyry project in Romania.

Under the joint proposal, which does not yet constitute a formal offer, Euro Sun and Lundin propose to acquire all of Nevsun’s outstanding common shares for $1.5 billion.

Shareholders of Nevsun would receive a total consideration of $5 per Nevsun share.

Nevsun would receive $2 per share in cash from Lundin and $2 per share in Lundin stock, and $1 per share in Euro Sun stock, representing a 54% premium to Nevsun’s 30-day, volume-weighted average price.

If the proposal becomes a formal offer and is approved by Nevsun shareholders, Lundin would own Nevsun’s European assets — including the Timok project — and Euro Sun would own Nevsun’s 60%-owned stake in the Bisha open-pit mine in Eritrea, in addition to Nevsun’s US$150-million, pre-tax cash balance.

The proposal, sent to Nevsun on April 30, was made public on May 7, and follows three solo attempts

by Lundin to engage Nevsun earlier in another transaction involving its European assets.

After Lundin’s third attempt on April 3 was rebuffed, it found a partner to lead full acquisition of Nevsun’s assets.

Both Lundin and Euro Sun declined requests from The Northern Miner for an interview to discuss the proposed transaction.

But in a joint press release, the CEOs of the two companies say what they see as the logic behind the deal. “The board and management of Euro Sun have a demonstrated track record of generating outstanding shareholder returns, including through their prior involvement with Avion Gold, and the purchase of Nevsun’s Tabakoto assets in Mali, which was subsequently sold at a

A drill rig at Nevsun Resources’ Timok copper-gold project in Serbia.   NEVSUN RESOURCES

significant premium,� Euro Sun’s president and CEO Scott Moore says. “The potential of Bisha is well beyond its current mine life, and Rovina represents an opportunity for all stakeholders to participate in the second-largest gold project

Nevsun Resources’ copper-zinc Bisha mine in Eritrea.  NEVSUN RESOURCES

“THE POTENTIAL OF BISHA IS WELL BEYOND ITS CURRENT MINE LIFE, AND ROVINA REPRESENTS AN OPPORTUNITY FOR ALL STAKEHOLDERS TO PARTICIPATE IN THE SECOND-LARGEST GOLD PROJECT IN EUROPE.�

SCOTT MOORE PRESIDENT AND CEO, EURO SUN MINING

1-16, 23_May28_Main .indd 3

in Europe.�

Nevsun’s Bisha mine, a highgrade, copper-zinc operation, has a forecasted four years of mine life left. The large volcanogenic massive sulphide deposit, 150 km west of Asmara, has been mined since 2010. Last year it produced 207.8 million lb. zinc in zinc concentrate and 18 million lb. copper in copper concentrate.

Paul Conibear, Lundin Mining’s president and CEO, described the proposal as “extremely compelling,� and said the company’s “significant experience in underground construction and mining� and its “track record of operating in Europe� underscore its ability to be “a strong and reputable developer� of the Timok project.

He also noted that Lundin’s “strong balance sheet� would come in handy for Timok’s near-term financing needs. “Our inclusion of cash and Lundin Mining shares will allow Nevsun shareholders to both crystallize value now and continue to share in the future growth of not only the Timok project, but benefit from the success of Lundin Mining’s operations, while participating in Lundin Mining’s future dividends,�

Conibear said.

In a press release on May 8, Nevsun said the proposal is deficient for a number of reasons, and didn’t offer enough value for its “worldclass� Timok deposit. “Lundin has indicated that it values Timok at $4 per share. Nevsun does not agree with that valuation,� the company stated, noting that the project consists of an Upper and Lower Zone. Nevsun owns 100% of the Upper Zone and holds the Lower Zone in a joint venture with Freeport-McMoRan (NYSE: FCX). “With an after-tax net asset value

of US$1.82 billion, internal rate of return of 80% and initial probable mineral reserve of 27 million tonnes, Timok Upper Zone is widely considered to be one of the highest-quality copper projects in the world, and deserves a premium valuation reflecting its value and potential.�

Nevsun also argued that Euro Sun was “not an attractive partner,� describing it as a “ junior, nonoperating company with a market capitalization less than one-tenth of Nevsun’s market capitalization.�

It noted that Euro Sun “has faced difficulty raising financing� and that its “most significant shareholder is junior mining promoter Forbes & Manhattan.�

Nevsun described Rovina as Euro Sun’s “only meaningful asset,� and characterized it as “ultra-low grade� and unpermitted.� “Nevsun previously conducted due diligence� on Rovina, but the asset was deemed “unattractive,�

Nevsun said.

In addition, the hundreds of millions of dollars Rovina would need in capital would be diverted from Nevsun’s cash-on-hand and cash generated from its operations, “instead of being deployed to generate higher shareholder value in Bisha or Timok.�

Historically, it added, Romania has been a “challenging jurisdiction for permitting mining projects.�

As for Bisha, it noted, the local government owns 40% and “has no relationship with Euro Sun.� “A negative reaction by the government would compromise Bisha,�

Nevsun said.

Other arguments against the proposal included a “misaligned shareholder base, as many investors own Nevsun for exposure to Timok,� and $100 million in capital gains that Nevsun would have to pay if it sold its assets. “Lundin and Euro Sun do have room to ‘sweeten’ their offer for Nevsun, and still consummate a highly accretive transaction,� Mike Kozak of Cantor Fitzgerald says in a research note. “Nevsun shareholders may hold out for a slightly higher cash and stock component from Lundin and Euro Sun. “Now that Euro Sun has emerged as a buyer of Bisha,� the analyst says, “Nevsun is effectively ‘in play’ to any or all larger, tier base metal miners,� comparable to Lundin. “We would not be surprised if a better offer emerges for Timok than the $2 per share in cash and $2 per share in Lundin shares proposed by Lundin. This scenario would presumably not affect Euro Sun’s proposed purchase price of Bisha, but should a premium to the Lundin terms be sizeable enough, would likely be viewed favourably

by Nevsun shareholders.� TNM

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Electric vehicles gain traction TECHNOLOGY

| ‘Mainstream appeal’ foreshadows emerging demand for key metals

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M

illions watching the royal wedding over the Victoria Day long weekend grinned with delight as Prince Harry and Meghan Markle stepped into a powder-blue Jaguar for their short journey from Windsor Castle to an evening reception hosted by the Prince of Wales at Frogmore House.

BY TRISH SAYWELL tsaywell@northernminer.com But not everyone knew that the stunning convertible — once described by Italian motor racing driver and entrepreneur Enzo Ferrari as “the most beautiful car ever made” — was a Jaguar E-Type Concept Zero, an electric version of the 1968 British classic.

The £350,000 (US$450,000), zero-emissions car is virtually silent and can reach up to 60 miles per hour in five and a half seconds. It has an all-electric, 220 kW lithium-ion power train and uses a 40 kWh battery that can be recharged from home in six to seven hours.

The Duke and Duchess of Sussex’s transportation choice underscores the mounting popularity of electric vehicles in tackling climate change and air pollution.

Across the pond in the U.S., one in five Americans plan to buy an electric vehicle as their next car, according to a May AAA survey. AAA found that 20%, or 50 million Americans, will likely go electric on their next car purchase, up from 15% in 2017.

The survey established that “range anxiety” is starting to lessen, despite the fact that there are only about 16,000 charging stations in the country. “Among those unsure or unwilling to choose an electric vehicle for their next car, 63% (down 9% from 2017) cited not enough places to charge as a detractor, while 58% (down 15% from 2017) expressed concern over running out of charge while driving,” AAA stated. “Not surprisingly, range anxiety is less of a concern for millennials (48%) than Generation X or baby boomers (64% and 66%).”

AAA classified millennials as those aged 20 to 37, Generation Xers as 38 to 53 years of age, and baby boomers, 54 to 72.

Greg Brannon, AAA’s director of automotive engineering, said that electric vehicles have “mainstream appeal,” and that although “concern for the environment is still a major motivator,” U.S. drivers “are also attracted to the lower long-term costs and advanced technology features that many of these vehicles offer.”

But electric vehicles need metal for their battery packs, as well as investments in battery-storage technology. Mercom Capital Group, a clean-tech communications and research firm in Austin, Texas, reports that venture capital funds from around the globe invested US$299 million in battery storage in 12 deals during the first quarter of 2018 — up from US$151 million in five deals in the fourth quarter of 2017. The VC deals ranged from energy-storage systems to lithium- and nickelbased batteries. Global VC funds also invested US$75 million in smartgrid technology in seven deals during the first quarter.

One of the Paris Agreement’s goals is to electrically power 20% of all vehicles on the road (i.e., cars, trucks, buses, and two- and threewheelers) by 2030, and more than 39 automakers have already invested in electric and plug-in hybrid EVs. This will require enormous amounts of lithium, cobalt, nickel and manganese, mining companies say.

Cobalt 27 Capital says that by 2030, the EV market could need more than four times the amount of cobalt that is currently produced each year.

The London Metal Exchange (LME) is joining the EV movement, saying it will offer contracts in metals used in batteries within 18 months. Matthew Chamberlain, LME’s chief executive, told participants at May’s LME Asia Week forum in Hong Kong that the new futures contracts could include cobalt sulphate, lithium, graphite and manganese.

Meanwhile, news of a possible multibillion-dollar deal in the lithium space should come as no surprise. Reuters has reported that China’s Tianqi Lithium is close to signing a US$4-billion deal with Nutrien to buy a 24% stake in Chilean lithium producer Sociedad Quimica y Minera. Nutrien, created by the merger of Agrium and Potash Corp. of Saskatchewan, owns 30% of SQM, but has to sell its stake before March 2019 to meet regulatory requirements. Tianqi Lithium is building the world’s biggest lithium processor in Western Australia. TNM

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

COMPANY INDEX Agnico Eagle Mines. . . 9,13 Altamira Gold . . . . . . . . . 16 Arizona Silver. . . . . . . . . . 16 Atacama Pacific Gold. . . . 1 Azarga Uranium . . . . . . . . 6 Barrick Gold. . . . . . . . . . . . 7 Bonterra Resources. . . . . 11 Brio Gold. . . . . . . . . . . . . . 15 Cabral Gold. . . . . . . . . . . 16 Cameco. . . . . . . . . . . . . . . . 6 Canamex Gold. . . . . . . . . 16 Cartier Resources. . . . . . . . 9 Centerra Gold. . . . . . . . . . . 7 Discovery Metals. . . . . . . . 8 eCobalt Solution . . . . . . . . 7 Energy Fuels. . . . . . . . . . . . 6 Euro Sun Mining. . . . . . . . 3 First Cobalt. . . . . . . . . . . . 12 First Mining Gold. . . . . . 12

Franco-Nevada. . . . . . . . . . 7 Freeport-McMoRan . . . . . 3 GeoMinera. . . . . . . . . . . . . 5 Goldcorp. . . . . . . . . . . . . . 15 GT Gold . . . . . . . . . . . . . . 11 Guyana Goldstrike. . . . . . . 1 Hornby Bay Mineral Exploration . . . . . . . . . . 11 Kinross Gold. . . . . . . . . . . . 1 Kirkland Lake Gold. . . . . 11 Leagold Mining. . . . . . . . 15 Liberty Gold. . . . . . . . . . . . 8 Lundin Mining. . . . . . . . . . 3 Marathon Gold. . . . . . . . . . 9 McEwen Mining . . . . . . . 11 Metallis Resources. . . . . . 12 Metanor Resources. . . . . 14 Midas Gold. . . . . . . . . . . . . 7 Millbrook Minerals. . . . . . 5

Gold discovery rates dropping, S&P says FACTS ‘N’ FIGURES

| Deposits hard to find despite big exploration budgets

The following is an edited excerpt from S&P Global Market Intelligence’s annual Gold Discoveries report. To see the full report, visit www.spglobal.com/marketintelligence.

A

lthough gold exploration budgets have fallen from a 10-year peak in 2012, spending on finding new gold ounces remains at historically high levels, with the US$54.3 billion allocated to gold exploration over the past decade almost 60% higher than the US$32.2 billion spent over the preceding 18-year period.

However, the increase in dollars spent has not yet resulted in more discoveries or discovered ounces compared with the previous period: only 215.5 million oz. gold has been defined in 41 discoveries over the most recent 10 years, compared with 1,726 million oz. in 222 discoveries in the preceding 18 years. Even after adjusting for more recently identified deposits that might eventually surpass our threshold for a major discovery, and for major discoveries with potential to expand, we forecast that the gold in major discoveries might only increase to 363 million oz. over the next decade.

Dwindling discoveries While the amount of gold discovered annually varies widely from year to year, it roughly follows the trend of annual spending on gold exploration; although in terms of return in gold discovered for exploration dollars spent, the 1990s were a more fruitful decade than the 2000s. Of the 263 major discoveries in the past 28 years, over half (139) were made in the 1990s and contain most of the discovered gold.

The industry downturn that began in 1998 (and lasted into the early 2000s) had an impact on both budgets and discoveries. By 2000, budgets were almost one-third of their 1997 peak, and discovery rates were declining, with only 16 discoveries recorded from 2000 to 2002, containing 108.3 million oz., well below the average from any period during the 1990s.

The improving industry conditions that marked 2003 and most of 2008 resulted in rapidly increas-

IN THE 41 DISCOVERIES MADE OVER THE PAST 10 YEARS, ALMOST HALF (105.8 MILLION OZ.) IS CONTAINED IN THE 10 LARGEST DEPOSITS. ing budgets and a corresponding ramp-up in discoveries, although both the number of discoveries and the amount of contained gold remained well below the levels seen in the mid-1990s. While budgets peaked at US$4.9 billion in 2008, gold discoveries peaked in 2005–2006, at 31 deposits. There has been a slow decline since 2006, with both the number of discoveries and the amount of contained gold trending downwards.

This trend escalated in 2010, with a precipitous drop in the amount of discovered gold, to just 18.6 million oz. from 61.5 million oz. in 2009. Despite historically high gold budgets since 2010, discovery rates have failed to break 40 million oz. in any given year.

Recent discoveries Of the 215.5 million oz. contained in the 41 discoveries made over the past 10 years, almost half (105.8 million oz.) is contained in the 10 largest deposits. The biggest is Zhaojin Mining’s Haiyu gold project in China’s Shandong province. We estimate that the project — which hosts almost 16.4 million oz. in reserves and resources — was discovered in 2011 shortly before the discoverer, Laizhou Ruihai Mining, agreed to sell the deposit to Zhaojin, although the acquisition wasn’t completed until 2015.

Barrick Gold’s Goldrush discovery in Nevada, also made in 2011, is the second largest in the last decade, with 13.2 million oz. in reserves and resources. It is also one of the highest-grade deposits covered at 8.9 grams gold per tonne. Barrick aims to begin production at Goldrush in 2021 or 2022, and produce 500,000 oz. gold per year in doré over a 21-year mine life. TNM

TOP 10 GOLD DISCOVERIES, 2008 to 2017

DEPARTMENTS Editorial. . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Events. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Metal Prices. . . . . . . . . . . . . . . . . . . . . . . . 19

O P- E D

Nevsun Resources. . . . . . . 3 North American Palladium. . . . . . . . . . . . 12 Osisko Mining. . . . . . 13,14 Oxygen Capital . . . . . . . . . 8 Pure Gold Mining. . . . . . . 8 Rio2 . . . . . . . . . . . . . . . . . . . 1 Sherritt International. . . . 5 Sun Metals. . . . . . . . . . . . . . 8 Sunvest Minerals. . . . . . . 12 Tahoe Resources . . . . . . . . 1 Teck Resources. . . . . . . . . . 7 Torex Gold Resources. . . 12 Trafigura. . . . . . . . . . . . . . . 5 URZ Energy. . . . . . . . . . . . 6 Victoria Gold. . . . . . . . . . 12 Yamana Gold . . . . . . . . . . 13

DISCOVERY

YEAR DISCOVERED BY

COUNTRY GOLD*

Haiyu

2011

Laizhou Ruihai Mining

China

16.4

Goldrush

2011

Barrick Gold

USA

13.2

Cascabel 2013

Solgold (85%), Cornerstone Capital (15%)

Ecuador

12.3

White Rivers/ 2016 Harmony Gold JV

White Rivers Exploration (65%), South Africa 11.5 Harmony Gold Mining (35%)

Blackwater

2009 Richfield Ventures

Canada

10.0

Gross

2009 Nord Gold

Russia

9.7

Cote Lake 2009 Trelawney Mining (92.5%),

Condor Gold (7.5%)

Canada

9.1

Buritica

2008 Continental Gold

Colombia

9.1

Poputninskoye

2009 Polyus Gold International

Russia

7.3

Namdini

2014

Ghana

7.0

Cardinal Resources

*Millions of oz. gold in reserves, resources and past production Source: S&P Global Market Inelligence

2018-05-22 6:12 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 28–JUNE 10, 2018

5

Millbrook pens exploration contract with Cuban gov’t

COPPER | Targeting three past-producing mines down during the Cuban Revolution.

BY RICHARD QUARISA It produced 200,000 tonnes copperrquarisa@northernminer.com zinc ore from 10 underground levels n late April, privately held Mill- accessed by a 173-metre shaft. As brook Minerals became the first part of its due diligence, Millbrook copper-zinc explorer to sign an took five samples from San Fernando International Economic Association that returned an average 6.6 grams (IEA) contract with Cuban state gold per tonne and 298 grams silver. mining company GeoMinera. The Through compiling historic data, document permits Millbrook to Millbrook will soon table a National explore and drill its 317 sq. km Los Instrument 43-101 compliant rePasos polymetallic project, which source estimate for San Fernando. covers Cuba’s entire Los Pasos belt. The project has 240,000 inferred “Back in the nineties you signed tonnes grading 2.04% copper, 3.6% a joint venture right away,” Mill- zinc and 28.7 grams silver for 10.64 brook president Doug Hunter says million lb. copper, 18.79 million in a telephone interview with The lb. zinc and 220,000 oz. silver. The Northern Miner. “You don’t do that company says there was not enough anymore. It’s more like an option data to estimate gold content. joint-venture arrangement. You go “By our standards today it was a through stages.” small operation and only mined to Millbrook’s IEA will last five years relatively shallow depths,” Hunter with the option for the company to says. “But some of the massive sul- The remains of a structure on Millbrook Minerals’ past-producing Los Pasos polymetallic project in Cuba. MILLBROOK MINERALS extend it another year and a half. phide there was some of the nicest The company will finish an environ- stuff I’ve ever seen.”

“THE MASSIVE mental baseline study during its first Santa Rosa lies 9 km east of San year and a feasibility study before Fernando. The site has two adits 15 SULPHIDE THERE reaching a production decision. If it metres deep. The Cuban govern- WAS SOME OF THE reaches production, the permit will ment ran an exploration program at NICEST STUFF I’VE be issued to a joint venture between Santa Rosa in 2011, taking channel Millbrook and GeoMinera, with samples, conducting an induced- EVER SEEN.” 51% Cuban ownership. polarization survey and drilling DOUG HUNTER Los Pasos consists of three former holes as deep as 50 metres below PRESIDENT, MILLBROOK MINERALS copper-zinc-gold-silver producers surface. The project remains open and 16 exploration targets. Accord- in all directions. ing to Millbrook vice-president of Highlights included 6 metres corporate development Alastair from 14.5 metres downhole grad- for Antonio.

McIntyre, the three former produc- ing 2.96 grams gold, 43.66 grams In an open-pit scenario, the projers — San Fernando, Santa Rosa and silver, 0.55% copper and 0.55% zinc, ect has 2.25 million inferred tonnes Antonio — are the company’s focus. as well as 1 metre from 20 metres grading 1.58% copper, 2.51% zinc “We want to build out on these downhole at 7.89 grams gold and 3 and 16.5 grams silver for 78.38 milprojects that were former produc- grams silver. lion lb. copper, 124.49 million lb. ers with the idea to quickly elevate The company’s Antonio deposit, zinc and 220,000 oz. silver. In an them to an economic scenario,” 20 km southeast of Santa Rosa, has underground scenario the project McIntyre says. “The ultimate goal mineralization traced to 190 metres contains 910,000 inferred tonnes is to bring this public when we feel below surface, which remains open grading 1.49% copper, 2.3% zinc and we’ve added some significant value at depth. Like San Fernando, it was 9.7 grams silver for 29.77 million lb. to the project.” active in the 1950s before shut- copper, 45.99 million lb. zinc and The San Fernando mine produced ting down during the Revolution. 280,000 oz. silver. copper and zinc intermittently from Based on historical data, Millbrook McIntyre says Millbrook is in 1827 to the late 1950s, when it shut calculated two resource estimates “fundraising mode” for a $3-million, first-year exploration program it hopes to begin later in the third quarter. The first phase of exploration would consist of aeromagnetic surveys of the entire belt to re-eval- A rock sample from Millbrook Minerals’ Los Pasos property in Cuba. MILLBROOK MINERALS uate the “known occurrences.” Millbrook would follow up the flyovers government of Cuba and Sherritt Cuba produced 15,762 tonnes finwith basic mapping, sampling and International (TSX: S). ished nickel and 1,801 tonnes findrilling.

Emincar is a joint venture between ished cobalt. The mine has been For its second exploration phase, Trafigura and the government of active since 1994. In 2018, Sherritt Millbrook is targeting a $7-million Cuba to develop the Castellanos expects to produce as much as 32,500 program that would culminate in a zinc-lead mine in northwest Cuba. tonnes finished nickel and 3,800 preliminary economic assessment. Trafigura finished building Castel- tonnes finished cobalt from Moa. “The potential is huge there and lanos in late 2017. It expects the Seeking more foreign investment, always has been, because there’s mine to reach full capacity this year, the Cuban government developed been relatively little work done,” producing 100,000 tonnes zinc and its IEA system in 2014.

Hunter says.

50,000 tonnes lead per year over 22 “Nickel’s very important, but they Millbrook is one of three notable years. Trafigura never signed an want to develop other resources,” foreign mining companies active IEA, and skipped instead to the Hunter says. “And the copper-zinc in Cuba, along with Trafigura’s joint-venture stage. and gold potential is very high in Emincar joint venture with the Sherritt’s Moa mine in eastern Cuba.” TNM The Los Pasos polymetallic project in Cuba. MILLBROOK MINERALS

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MAY 28–JUNE 10, 2018 / THE NORTHERN MINER

Azarga Uranium to merge with URZ Energy URANIUM

| Combination will create “pre-eminent” in-situ recovery developer in America, companies say a big leap for us, and I can tell you, I’m very excited about it.”

Catchpole was the CEO of Uranerz Energy before its US$175-million acquisition in 2015 by Energy Fuels (TSX: EFR; NYSE-AM: UUUU).

While at Uranerz, Catchpole explored, permitted, built and operated the company’s Nichols Ranch ISR uranium project in Wyoming.

An engineer by training, Catchpole also worked on Cameco’s (TSX: CCO; NYSE: CCJ) Inkai ISR mine in Kazakhstan, which is held in a joint venture with the Kazakhstan government through Kazatomprom.

(Catchpole lived in Kazakhstan for six years while general manager of the operation.) Last year Inkai produced 5.5 million lb. uranium oxide (U3O 8) in 2017. This year it could produce 6.9 million lb. U3O8 .

Among the things Catchpole likes about Dewey Burdock are its grade — which averages 0.25% — and relatively shallow, 129.5-metre depth.

“The depths weren’t excessive,” he says. “Sometimes with these ISR projects they look good and they have grade, and so on, but the depth is such that it increases your operating costs with the drilling.

The deeper the well, the more cost.

The last project I was on, it was more like [182 metres].”

The project’s average grade of 0.25%, he adds, is “really good in the industry.”

“I’ve never had the fortune of being on a project with that kind of grade — I’m used to more of the 0.1% average — so to me, it’s got all the elements of a good project.”

The transaction with Azarga Uranium “is timely,” he continues, “with the worldwide growth in nuclear reactor construction and confidence returning to the uranium sector.”

Under the agreement announced May 7, Azarga will acquire all of the issued and outstanding shares of URZ Energy. Shareholders of URZ

BY TRISH SAYWELL

T

tsaywell@northernminer.com

he merger of Azarga Uranium (TSX: AZZ; US-OTC: PWURF) and URZ Energy (TSXV: URZ; US-OTC: URZZF) will create a new uranium development company focused on in-situ recovery (ISR) uranium deposits in the United States.

Azarga controls six uranium assets in the U.S., and its f lagship project, Dewey Burdock in South Dakota, has received key permits from the Environmental Protection Agency. URZ Energy owns the Gas Hills, Juniper Ridge and Shirley Basin properties in Wyoming, and also has properties in Utah and Colorado.

“It’s time to put good assets and good people and financial structures together to take advantage of opportunities when the uranium commodity market turns,” URZ Energy’s executive chairman Todd Hilditch says.

URZ Energy’s CEO, Glenn Catchpole, who has spent the last 40 years in the uranium sector, says the business combination will create the pre-eminent ISR uranium developer in America, and that the two companies have been talking about a deal for a few months.

“But Azarga’s Dewey Burdock project has been on my mind for a lot longer than that,” he says, noting that the project was on his radar screen when he was working at a previous company called Uranerz Energy.

“We looked at it then and did a due diligence on it, and liked it even more, and we put in an offer, which was not successful,” he recalls in an interview. “I was hoping that someday it might come around again, and it has. It’s a real company builder.

We’ve only been going for about two years as a company … and this is

“IT’S TIME TO PUT GOOD ASSETS AND GOOD PEOPLE AND FINANCIAL STRUCTURES TOGETHER TO TAKE ADVANTAGE OF OPPORTUNITIES WHEN THE URANIUM COMMODITY MARKET TURNS.” TODD HILDITCH EXECUTIVE CHAIRMAN, URZ ENERGY

Energy will receive two shares of Azarga for each share they own in URZ Energy.

If the transaction is approved, the combined company would have a stronger platform to evaluate and consolidate more ISR uranium projects in the U.S., the two companies note in a joint press release.

The new board will have three appointees from each company, with Catchpole becoming chairman.

Azarga’s current president and CEO, Blake Steele, will continue his role in the merged company.

A US$825,000 break-fee will apply.

The new company’s combined measured and indicated resources would total 30.7 million lb. U3O8 , with another 8.7 million lb. in the inferred category.

Of the 30.7 million measured and indicated lb. U3O8 , Azarga’s Dewey Burdock project alone would make up 8.6 million lb. at an average grade of 0.25% U3O8 .

A preliminary economic assessment of the project in April 2015 outlined a 16-year mine life producing 9.7 million lb. U3O8 at US$27-

An American flag atop a drill rig at Azarga Uranium’s flagship Dewey Burdock uranium project in South Dakota. AZARGA URANIUM

million initial capex.

The preliminary economic assessment assumed a US$65 per lb. uranium price and cash operating costs of US$18.66 per lb. U3O8, which included US$6.33 per lb. U3O 8 of local taxes and royalties.

Spot uranium at press time is US$21 per lb., according to Trade Tech and the Ux Consulting Agency.

Uranium does not trade on the open market, and many of the private sales contracts are not publically disclosed. Monthly long-term industry average uranium prices, based on the month-end prices, are published by Ux Consulting and Trade Tech. At press time, both companies posted a US$21 per lb. uranium price.

In terms of the assets URZ Energy brings to the table, the company’s

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Gas Hills project is likely the priority.

The company recently reinterpreted Gas Hills’ potential to be mined with ISR. The project has indicated resources of 2.41 million tons (2.19 million tonnes) grading 0.098% U3O8 for 4.73 million lb. U3O8, and another 2.3 million tons (2.09 million tonnes) of inferred resources grading 0.054% U3O8 for 2.5 million lb. U3O8 .

Strathmore Minerals drilled Gas Hills from 2007 to June 2013. In August 2013, Strathmore was acquired

by Energy Fuels, which sold the property to URZ in October 2016.

The project is 72 km east of Riverton, Wyo., lying along the southern edge of the Wind River basin and near the northern edge of the Granite Mountains.

The Gas Hills uranium district was one of the major uranium mining and production regions in the U.S., according to a technical report on the Gas Hills project completed in June 2017.

Three uranium mills operated in the district, and two others nearby were also fed by ore mined from Gas Hills, the technical report stated.

Cumulative production from the Gas Hills district is in excess of 100 million lb. uranium, mainly from open-pit mining, but also from underground mining and in-situ recovery.

Wyoming mines have produced over 200 million lb. uranium from both conventional and ISR mine and mill operations, and according to Catchpole, permitting there is less onerous than in other states in the United States. He is familiar with the permitting regime there, as he explored, permitted, built and operated the Nichols Ranch ISR uranium project in the state when he worked at Uranerz.

As for permitting Dewey Burdock in Utah, the project has received its Nuclear Regulatory Commission licence and draft Class III and Class V underground injection control (UIC) permits from the Environmental Protection Agency. But it needs final Class III and Class V UIC permits.

Catchpole says that in regards to the permitting requirements, “the main unknown is how fast the state moves. But we’re hopeful that it’s about a year.”

News of the proposed transaction sent the shares of URZ Energy up 4.5¢ (11%) to 44.5¢. Azarga’s shares were unchanged at 27¢ apiece. TNM

2018-05-22 6:13 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 28–JUNE 10, 2018

7

Trucks in the Yellow Pine mine in 1943, which produced antimony and tungsten. The same mine photographed recently (right) is now part of Midas Gold’s Stibnite gold property in Idaho. MIDAS GOLD

Barrick takes strategic stake in Midas Gold INVESTMENTS

BY TRISH SAYWELL

I

tsaywell@northernminer.com

n the latest of a series of strategic investments in junior mining companies, Barrick Gold (TSX: ABX; NYSE: ABX) is acquiring a 19.9% stake in Midas Gold (TSX: MAX; US-OTC: MDRPF) and its Stibnite gold project in Idaho.

Midas will use the US$38-million investment from Barrick to fund a feasibility study and meet permitting requirements. It expects to complete the feasibility study in the third quarter of this year.

Stibnite, 244 km northeast of Boise, is the eighth-largest gold reserve and the fourth highest-grade, open-pit project in the United States.

It also has significant antimony and silver credits.

A prefeasibility study (PFS) in December 2014 forecast that Stibnite would produce 337,000 oz. gold a year over a 12-year mine life, based on probable reserves of 4.6 million oz. gold at an average grade of 1.7 grams gold per tonne. At US$1,200 per oz. gold, the PFS outlined a US$513-million, after-tax net present value at a 5% discount rate, and a 14.4% internal rate of return.

The brownfields project consists of historic tailings and three pastproducing areas — Hangar Flats, Yellow Pine and West End — all of which are open in multiple directions and within 1.6 km of each other, north to south.

Hangar Flats was mined first as an underground mine, and the mill was next door. Then mining moved to Yellow Pine, which operated as both an open-pit and underground mine.

An updated resource earlier this year outlined 104.9 million measured and indicated tonnes grading 1.66 grams gold, 2.53 grams silver and 0.09% antimony for 5.61 million contained oz. gold, 8.54 million oz. silver and 203.84 million lb. antimony.

Inferred resources add 23.2 million tonnes grading 1.29 grams gold, 2.4 grams silver and 0.04% antimony for contained metal of 959,000 oz. gold, 1.52 million oz. silver and 20.5 million lb. antimony.

In 2013, Teck Resources (TSX: TECK.B; NYSE: TECK) acquired a 9.9% stake in Midas Gold and Franco-Nevada (TSX: FNV; NYSE: FNV) bought a 1.7% net smelter re-

1-16, 23_May28_Main .indd 7

| US$38M proceeds will help finish feasibility, permitting

“THE PARTIES THAT CREATED THE WORST OF THE DISTURBANCE DON’T EXIST ANYMORE TO GO AFTER FOR CLEANUP, AND WHAT WE’RE PROPOSING TO DO IS INTEGRATE CLEANUP OF THE SITE WITH REDEVELOPMENT.” STEPHEN QUIN FOUNDER, PRESIDENT AND CEO, MIDAS GOLD

turn royalty the same year. In 2016, Paulson backstopped a $55-million financing. Other shareholders include Sun Valley, VanEck and Oppenheimer Funds.

The project is in a past-producing area around the historic town of Stibnite, where gold, silver, antimony, tungsten, and mercury have been mined in underground and openpit operations since the late 1920s.

(The former town of Stibnite is in the middle of the current project.)

The Hangar Flats and Yellow Pine mines produced 90% of the antimony and two-thirds of the tungsten that the U.S. government used during World War II and the Korean War. When the U.S. stopped producing strategic stockpiles of these metals, it was shut down and abandoned, and nothing really happened until the 1970s, when the gold price went up and people started to look at it again, but with a focus on gold.

Exploration restarted in 1974, followed by open pit and seasonal on–off heap leaching from 1982 to 1997. Midas started exploration there in 2009.

Midas Gold has spent US$160 million on Stibnite since then, some of which was spent on extensive environmental baseline programs to assess environmental conditions and excessive disturbance at the site by prior owners.

“When the mine was operating from the 1920s to the 1950s — initially underground mining at Hangar Flats then open-pit mining at Yellow Pine — there were no significant environmental regulations,” says Stephen Quin, who founded the company and has been president and CEO since 2011.

“When they started, they dumped tailings directly into a creek, but that was inefficient from a water perspective because they needed

water to recycle, so they put in basic retaining dams to stop the tailings going downstream, but more to capture the water to reuse it than for the purpose of protecting the environment,” he explains.

As a result, tailings spread across the whole Meadow Creek valley through more than 30 years of operations. Those tailings contained antimony and arsenic.

“You ended up with elevated arsenic in surface and groundwater, and it contaminated a large portion of the Meadow Creek valley,” Quin says. “Even with the dams, there were no liners, so you have elevated levels of metal going into ground and surface water and erosion was a substantial issue, because Meadow Creek ran through the tailings area and every spring, a bunch of tailings would wash downstream.”

The highest profile issue is the Yellow Pine open pit, which was dug right across a tributary of the Salmon River in the 1930s, cutting off salmon migration to spawning beds upstream.

Another problem was Blowout Creek, where a hydro and water retention dam was built. Previous operators ran it during the mining operations but after the mine was abandoned in the 1950s, there was concern that the dam would fail and cause significant damage. So the regulators decided to breach the dam and drain it, but the breaching process got away from them and the dam washed out, and had a significant impact downstream.

“Blowout Creek is now eroding the hillside and it’s the single largest source of sediments going into the watershed,” Quin notes. “Every spring, chocolatey water comes down because of high levels of suspended solids.”

Numerous other factors from town sites, equipment maintenance

Midas Gold’s president and CEO Stephen Quin at Stibnite. MIDAS GOLD

facilities, haul roads and other mining-related activities have left a legacy of environmental impacts, he adds.

In its plan of restoration and operations, filed with regulators in September 2016, Midas Gold laid out an integrated plan for the restoration of the legacy impacts in conjunction with the redevelopment of the site as a modern mining operation.

“The parties that created the worst of the disturbance don’t exist anymore to go after for cleanup, and what we’re proposing to do is integrate cleanup of the site with redevelopment,” Quin says.

Those efforts will include picking up tailings and processing them to get the remaining metals out, and then redepositing the tailings in a properly designed and lined tailings facility. Midas would also create a proper passageway that would allow salmon to swim upstream for the first time since the 1930s.

The U.S. Forest Service is expected to publish a Record of Decision in November 2019, Quin says, adding that both Republicans and Democrats in the state legislature supported the redevelopment in a rare joint house memorial passed by both houses of the state legislature.

Quin doesn’t expect the results of the feasibility study will be all that different from those in the PFS. “It’s the same project — our resource was increased in the first quarter of this year but it’s not that different, it’s just better defined,” he says. “Our hope is to come out with something quite similar to what was

there before.”

The processing will involve floating off the pyrite to make concentrate and processing the concentrate on-site to make gold bars. When antimony grades are high enough, the plant could float off the stibnite to create a saleable antimony concentrate.

Quin says there is also exploration potential — mostly small tonnage, high-grade, near-surface underground targets clustered just east of where it plans to put the mill.

The targets are antimony and gold, and include Scout and Upper Midnight. Scout is an antimony target discovered in the 1960s, and Upper Midnight is from 1970.

In a research note, Kerry Smith of Haywood Securities says Stibnite is a good addition to Barrick’s investment portfolio.

“In addition to having a large, ~4.6 million oz. reserve grading 1.7 grams gold per tonne, which would deliver an average of 337,000 oz. gold per year for 12 years, the exploration potential in this district remains very high.

“Barrick was attracted to four key features — potential capital cost and operating synergy opportunities with their Nevada operations that Barrick could realize, a stable location, excellent exploration upside, and meaningful production and operating cash flow.”

Stibnite is 89 km from Centerra Gold’s (TSX: CG) Thompson Creek molybdenum mine and 129 km from eCobalt Solution’s (TSX: ECS; US-OTC: ECSIF) Idaho cobalt project. TNM

2018-05-22 6:13 PM

8

WWW.NORTHERNMINER.COM

MAY 28–JUNE 10, 2018 / THE NORTHERN MINER

Discovery samples Zaragoza in Coahuila ZINC

| Will spend $5.5 million this year on exploration

BY RICHARD QUARISA rquarisa@northernminer.com

D

iscovery Metals (TSXV: DSV) has fielded results for 100 new channel samples taken from the historic Zaragoza zinc-silver-lead mine on its 300 sq. km Puerto Rico polymetallic property in northern Coahuila, Mexico. Discovery has taken 600 samples at Puerto Rico to date, and plans to finish as many as 1,400 before drilling the property late in the third quarter of 2018.

Samples include: 2 metres grading 822 grams per tonne silver, 2.1% zinc, 2.5% lead and 0.7% copper, with less than 1 metre at 1,675 grams silver, 2.2% zinc, 4% lead and 1.1% copper, as well as 3.3 metres grading 175 grams silver, 2.1% zinc, 15.2% lead and 0.2% copper.

Discovery went public in August 2017 with the Puerto Rico polymetallic project as its flagship asset. It operates under the Oxygen Capital banner along with Liberty Gold (TSX: LGD), Pure Gold Mining (TSXV: PGM) and Sun Metals (TSXV: SUNM).

Discovery has a cluster of seven properties in Coahuila.

“We look for data-rich projects that have been past producers or that have had other operators,” Discovery president and CEO Taj Singh says during a telephone interview with The Northern Miner.

“Because there was so much historic production it allows us to get right up to the mineralization and start sampling it.”

Puerto Rico has seen more past production than any of the company’s other properties, and has three historic mines. It was mined

by Kansas City Smelting from 1896 to 1900 and by Asarco from 1906 to 1918. Semi-commercial mining sprung up again between 1970 and 1985, and until Discovery acquired the property in August 2017, it hosted small-scale production by local operators.

“We’re working with the vendors that own it, and we had an agreement that until we start drilling, they could do small-scale production,” Singh says. “One of the ven-

Taj Singh, Discovery Metals’ president and CEO, at Puerto Rico. DISCOVERY METALS

“WE’RE LASER FOCUSED ON DATA. SO WHAT’S THE CHEAPEST WAY FOR ME TO GET DATA RIGHT NOW? IT’S NOT TO DRILL. THAT’S THE MOST EXPENSIVE.” TAJ SINGH PRESIDENT AND CEO, DISCOVERY METALS

dors is on our board, and he’s also part of the local community that owns the land.”

Singh says the vendors were doing well, mining around 20 tonnes per day with visible zinc mineralization, but made the decision to go for “the big prize.” He says having a vendor on the board helps community relations because “they really feel like partners,” and not just like “some Canadian company showed up.”

Puerto Rico is accessible via a

paved road that ends 25 km from the property. From there a wide gravel road extends the rest of the way. The company has all its surfaceexploration permits and is getting its drill permits. The government tenured Puerto Rico as a nature reserve in the early 2000s, and the drill permit application permit is drawn out, compared to the company’s other properties.

Discovery already has drill permits for its Monclova polymetal-

lic property and its La Minerva polymetallic property — its most advanced exploration projects.

“The amount of permitting to be able to drill Puerto Rico is similar to the amount needed to take a property like Minerva to construction,” Singh says. “It takes longer in the beginning, but if you go to construction, you’ve already done a lot of the paperwork, so that part goes much faster.”

To obtain a drill permit for Puerto Rico, Discovery will need to submit a baseline study, an environmental impact assessment and a change of land use study. For Puerto Rico, Discovery has done its baseline study, and is finishing off the other two. If it brings the project to construction, however, it will still need to submit an update on the property.

“If I had the drill permits now, I

wouldn’t even start drilling,” Singh says. “We’re laser focused on data.

So what’s the cheapest way for me to get data right now? It’s not to drill. That’s the most expensive. I can go sample it way cheaper, and know this thing inside and out before I drill.”

The company started 2018 with $12.2 million in cash. It plans to spend $5.5 million this year on exploration. The company expects to drop as many as 1,500 metres into both Minerva and Monclova, with drilling likely to begin this June. It will put 3,000 metres in Puerto Rico.

Singh says the company’s holes will be shallow.

“Puerto Rico is ‘underground,’ but it’s not, it’s in the side of a hill,” he says. “I walk in five metres and I’m at the mineralization. Minerva and Monclova are surface drill targets.”

Earlier this year, the company drilled its La Kika polymetallic project. The company dropped 750 metres across 20 holes to explore the property’s zinc-silver-lead, carbonate-replacement mineralization. It drilled the property after receiving the permits, and intercepted a series of narrow, high-grade mantos.

Highlights included 1 metre from 7 metres downhole grading 10.4% zinc and 1.5 metre from 7 metres downhole grading 12.8% zinc.

“With La Kika, we’ve finished the first stage,” Singh says. “Let’s finish the first stage test on Minerva and Monclova, and figure out which one’s moving forward.”

He says the company knows Puerto Rico will move towards a second exploration stage and hopefully to an eventual resource in 2019.

“But within those other properties, we think there’s potential for two or three additional ones to move forward,” Singh says. “At the end of 2019, you could have a resource on Puerto Rico as well as a potential resource on two or three other projects, all within the same area.

“It’s really an area play.”

At press time, Discovery shares traded at 36¢ within a 52-week range of 27¢ to 95¢. The company has a $20-million market capitalization.

It has a 3,000 sq. km land position in Coahuila. TNM

Discovery Metals’ past-producing Puerto Rico polymetallic project in northern Coahuila, Mexico. DISCOVERY METALS

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2018-05-22 6:13 PM

CANADIAN GOLD SPECIAL FOCUS

Monarques Gold’s Beaufor gold mine in Quebec’s Abitibi region. MONAQUES GOLD

Cartier Resources cuts more high grade at Chimo ABITIBI

| Drill program at past producer brings hope of new life

BY TRISH SAYWELL tsaywell@northernminer.com

D

the PEA announcement.

Marathon’s cost of finding a new ounce of gold on the 2,400 sq. km property is $10 per oz., Walford says, and only 15% of the project’s 20 km of strike length has been examined in any detail.

Moreover, the company has defined a 3 million oz. gold resource based on just 200,000 metres of drilling between January 2010 and

uring the most recent market downturn, when many of his peers were running for cover and trying to preserve cash, French Canadian geologist Philippe Cloutier went on a shopping spree.

The founder, president and CEO of Cartier Resources (TSXV: ECR) bought three key assets at fire-sale prices — all of them in the Abitibi Greenstone Belt, one of the world’s most prolific gold-producing regions.

Since then Cartier has attracted investments from Agnico Eagle Mines (TSX: AEM; NYSE: AEM), JP Morgan UK and Quebec funds.

“Our strategy was to focus on small, high-grade historical resources that had been delineated in the pre-Bre-X days,” Cloutier says, describing the period leading up to the salting scandal in 1997 as a time when “companies were raising cash, coming up with showings and drilling them off down to 250 or 300 metres.”

Many of these projects were shelved after the Bre-X fiasco undermined confidence and decimated investment in the mining industry.

“The projects we were hunting for were under the radar because they had no 43-101 resources on them, and the heavy lifting had been done between 1993 and 1997,” Cloutier

See MARATHON / 10

See CARTIER / 14

At Marathon Gold’s Valentine Lake gold project in Newfoundland, from left: Sherry Dunsworth, senior vice-president of exploration; Janice Stairs, director; and Phillip Walford, president and CEO. MARATHON GOLD

Marathon Gold finishes PEA on Valentine Lake

GOLD

| Study forecasts 188,500 oz. annual production at AISCs of US$595 per oz. gold

BY TRISH SAYWELL

T

tsaywell@northernminer.com

he first economic assessment of Marathon Gold’s (TSX: MOZ) Valentine Lake gold project in Newfoundland could host a “very robust” and “low cost” operation, president and CEO Phillip Walford says.

The much-anticipated study outlined an 11-year mine life and life-of-mine production of 1.90 million oz. gold, or 188,500 oz. per year, at average cash costs and all-in sustaining costs of US$557 per oz. and US$595 per oz. gold, respectively.

Pre-production capital is forecast at US$380 million and could be paid back in just under three years.

The after-tax net present value at a 5% discount rate is an estimated US$367 million, and the post-tax internal rate of return would be 25%. The study used a base-case US$1,250 per oz. gold price.

“The preliminary economic assessment (PEA) is a milestone, and it does show that there is a potential mining operation there because of

the strong economics,” Walford says in an interview.

Valentine Lake is made up of four near-surface gold deposits: Marathon, Leprechaun, Victory and Sprite. The deposits occur over a 20 km, gold-bearing vein system and are open at depth and along strike.

Most of the resources are located in the Marathon and Leprechaun deposits, which also have resources below their pit shells. Gold mineralization has been traced down to 350 metres at Leprechaun and almost a kilometre at Marathon.

The PEA excluded the Sprite deposit as well as the project’s underground resource, due to insufficient drilling.

Valentine Lake’s measured and indicated resources from all four deposits — both open-pit and underground — measure 33.36 million tonnes grading 1.99 grams gold per tonne for 2.14 million contained oz. gold. Inferred resources add 17.27 million tonnes grading 1.99 grams gold per tonne for 1.11 million contained oz. gold.

Geological and geophysical studies suggest that the structure

“VALENTINE LAKE IS ONE OF THE PREMIER EXPLORATION PLAYS IN NORTH AMERICA — WITH POTENTIAL TO GROW BEYOND ITS CURRENT 3.24 MILLION OZ. RESOURCE — AND [IS] AN ATTRACTIVE TAKEOVER TARGET FOR A MID- TO LARGE-CAP GOLD PRODUCER.” MICK CAREW MINING ANALYST, HAYWOOD SECURITIES

1-16, 23_May28_Main .indd 9

hosting the gold mineralization could continue east and west of the current resource, as well as down-plunge, the company says.

“Valentine Lake is one of the premier exploration plays in North America — with potential to grow beyond its current 3.24 million oz. resource — and [is] an attractive takeover target for a mid- to largecap gold producer,” Michael Carew, a mining analyst at Haywood Securities, said in a research note after

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2018-05-22 6:13 PM

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MAY 28–JUNE 10, 2018 / THE NORTHERN MINER

CANADIAN GOLD

WWW.NORTHERNMINER.COM

Marathon Gold’s Valentine Lake gold project in Newfoundland. MARATHON GOLD

Marathon Gold completes PEA on Valentine Lake MARATHON From 9

March 2018.

“We’re very efficient at finding gold,” says Walford. “If you compare us to some of the other companies, we’re doing very well indeed in finding gold economically.”

Walford says there is exploration potential for more open-pit resources at the Sprite deposit, including the Bog extension area, the Marathon deposit to the southwest, the Vic-

tory deposit, and other mineralized zones, such as the Frank zone and the Rainbow zone. (Drill results from Sprite released in April had intercepts of 8.36 grams gold over 6 metres, including 15.07 grams gold over 3 metres in one hole, and 7.12 grams gold over 4 metres, with 25.84 grams gold over 1 metre in another hole.)

“There is also a large underground resource at the Marathon deposit that is not at present drilled off in

sufficient detail to develop into a mine plan,” Walford says, noting that more drilling this year will define the underground resource in time for the next economic study.

Walford hopes to finish a prefeasibility study before the end of next year.

“We have more than 2 million oz. gold at a grade of 2 grams gold in open-pit resources that was used in the PEA, and it’s giving us a really good production profile,” he says.

“We’d like to get the 188,500 oz. per year defined in the PEA up to about 200,000 oz. a year for a longer length of time than the current mine life, but we’re on the right path, and we have a lot of exploration upside here, so I think we’ll achieve our goal of making this into an even better operation, with more drilling.”

The CEO also points out that Marathon Gold is independent. “We’re one of the few independents left that doesn’t have a strategic partner, which is by choice. Right now we

“WE HAVE MORE THAN 2 MILLION OZ. GOLD AT A GRADE OF 2 GRAMS GOLD IN OPEN-PIT RESOURCES THAT WAS USED IN THE PEA, AND IT’S GIVING US A REALLY GOOD PRODUCTION PROFILE.” PHILLIP WALFORD PRESIDENT AND CEO, MARATHON GOLD

want to stay independent. However, that may change in the future.”

The PEA envisioned two goldrecovery operations: a milling, flotation, carbon-in-leach plant, and a heap-leach plant.

Recent metallurgical tests have shown 93% to 98% recoveries via conventional milling and 50% to 70% recoveries via low-cost heap leaching at the Leprechaun and Marathon deposits.

Over the last year, Marathon’s shares have traded in a range of 85¢ (May 1 2018) to $1.28 (Jan. 4, 2018),

and at press time were changing hands at $1.03 per share.

The company has 144 million shares outstanding for a $150.5-million market capitalization.

Walford holds 4 million of the company’s shares, which he says he has bought over the last five or six years.

In total, directors and officers of the company hold 4% of Marathon’s stock.

At the end of March, Marathon had $4.1 million in cash and equivalents. TNM

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Marathon Gold geologists examining quartz-tourmaline-pyrite-VG veining at the Frank zone at Valentine Lake. MARATHON GOLD

1-16, 23_May28_Main .indd 10

2018-05-22 6:36 PM

CANADIAN GOLD

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 28–JUNE 10, 2018

11

CANADIAN GOLD SNAPSHOT

Quebec, Ontario and BC remain prime destinations “Busy” would be a good word to describe gold explorers and developers in Canada in mid-2018.

With gold prices holding steady above US$1,200 for a sustained period and the Canadian dollar showing ongoing weakness, it’s a good time to carry out substantial exploration and development campaigns in Canada’s gold camps, old and new. The following are examples of eight such companies.

Timmins area.

Of these five royalty-free mining leases, Hornby considers the East Clavos lease its most important, because it shares a boundary with Sage Gold’s emerging Clavos gold project.

At last report, Hornby had acquired all drilling permits and was preparing a small diamond drill campaign at East Clavos.

BONTERRA RESOURCES

Hornby Bay says that the 2 km, untested Pipestone fault system “represents one of the last untested major gold targets in the TimminsPorcupine gold camp.”

Bonterra Resources (TSXV: BTR; US-OTC: BONXF) has its wholly owned, high-grade Gladiator gold project in the Urban-Barry greenstone belt, 170 km northeast of Val-d’Or, which is comprised of two adjacent properties named Arena and Coliseum.

MCEWEN MINING

The Gladiator gold deposit has an inferred resource of 905,000 tonnes grading 9.36 grams gold per tonne for 273,000 contained oz. gold, according to a 2012 study.

A new resource estimate is due later this year, and it will incorporate 60,000 metres drilled in 2017 and 70,000 metres planned for 2018.

Drill results released in April show a sixth parallel gold zone at Gladiator, while infill drilling confirms the continuity of the deposit’s other zones.

Newly released preliminary metallurgical studies at Gladiator show total gold recoveries of up to 99.4%, including 76.1% from a gravity circuit.

Bonterra also has its Larder Lake high-grade gold project across the border in Ontario, where resources in all categories are just shy of 1 million oz. gold.

Bonterra has raised $60 million over the past 14 months and its major shareholders include Eric Sprott, VanEck Gold Fund and Kirkland Lake Gold.

The camp at GT Gold’s Saddle gold property in northwest British Columbia. GT GOLD GT plans to drill 18,000 metres in mid-2108 at Saddle in a $6.8-million program, with mobilization on June 1.

The company has $9 million in its treasury, with the potential for another $873,000 from exercising in-the-money warrants that expire this year.

KIRKLAND LAKE GOLD Toronto-based Kirkland Lake Gold (TSX: KL; NYSE: KL) has evolved into a mid-tier gold producer targeting over 620,000 oz. gold production in 2018 from four mines in low-risk jurisdictions: the flagship Macassa as well as the Taylor and Holt mines in northeastern Ontario; and in Australia, the large Fosterville mine in the state of Victoria.

Kirkland is also working to resume operations at its Cosmo operations in the Northern Territory, which is on care and maintenance, but where Kirkland has a substantial new gold discovery.

The Australian assets came into the Kirkland fold via a friendly business combination with Australia’s Newmarket Gold, which swelled the number of Kirkland Lake employees and contractors to 1,800.

In 2017, the Macassa mine produced 194,000 oz. gold at an operating cost of US$523 per oz., while Fosterville produced 264,000 oz. gold at an operating cost of US$264 per oz. gold. Combined, the two mines produced 77% of Kirkland’s annual production, which totalled 596,400 oz. gold.

Earnings and cash flow have been on the upswing for Kirkland over the past couple of years, and the trend is continuing, with first-quarter net earnings rising to US$53.8 million from US$13.1 million in the year-ago quarter, and free cash flow hitting US$50.2 million from US$38.5 million over the same period.

HORNBY BAY EXPLORATION Toronto-based, micro-cap Hornby Bay Mineral Exploration (TSXV: HBE; US-OTC: HBEXF) is focused on its Coppermine River uranium properties in the Hornby Bay geological basin in northwestern Nunavut, but it also has wholly owned mining leases on the gold-bearing, Pipestone-DestorPorcupine fault systems in Ontario’s

Gold and silver producer McEwen Mining (TSX: MUX; NYSE: MUX) has had such a strong connection with Mexico and Argentina that it’s sometimes easy to forget the company has a substantial, producing gold asset that it acquired in Ontario, and is also developing two new mines in Nevada and Mexico.

McEwen bought the Black Fox gold mine complex in October 2017 for only US$35 million from distressed seller Primero Mining.

The Black Fox mine produced 51,209 oz. gold at an average grade of 6.2 grams per tonne during the first three quarters of 2017, and 14,279 oz. gold at a grade of 6.47 grams per tonne in the fourth quarter of 2017.

McEwen has budgeted US$10 million in 2018 for a property-wide exploration program at Black Fox that will consist of 60,000 metres of surface drilling and 40,000 metres of underground exploration, and

See SNAPSHOT / 12

GT GOLD Vancouver-based, Kevin M. Keoughled GT Gold (TSXV: GTT; US-OTC: GTGDF) is an early-stage explorer hunting for gold in northwestern British Columbia’s prolific Golden Triangle region.

The company’s flagship asset is the wholly owned, 432 sq. km Tatogga gold property, located 10 km off Highway 37, where the company has been developing the grassroots Saddle gold prospect since 2011.

GT Gold has two new discoveries at its Saddle prospect: a high-grade, epithermal gold-silver vein system at Saddle South; and near Saddle North, what GT calls the “probable ‘engine’ for the entire system” in the form of a copper-gold-silver mineralized porphyritic intrusive, which geophysical surveying indicates is “large in scale, and which early drill results suggest may be rich.”

GT has four goals for 2018: expansion drilling of the highgrade, gold-silver vein systems at Saddle South and Saddle North; expansion drilling of the coppergold-silver porphyry discovery at Saddle North; finishing initial metallurgical test work; and wrapping up a National Instrument 43-101 compliant resource calculation, perhaps tabled by early 2019.

1-16, 23_May28_Main .indd 11

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2018-05-22 6:13 PM

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CANADIAN GOLD

MAY 28–JUNE 10, 2018 / THE NORTHERN MINER

WWW.NORTHERNMINER.COM

First Mining finishes phase-two drilling at Goldlund ONTARIO

| Begins economic assessment at Springpole gold project

BY RICHARD QUARISA

F

rquarisa@northernminer.com

irst Mining Gold (TSX: FF; US-OTC: FFMGF) has tabled the final set of drill results from its 16,000-metre infill program at Zone 1 of its 236 sq. km Goldlund gold project, 30 km northeast of Dryden, Ontario. All 11 holes intersected mineralization, as did 33 of the program’s total 38 holes.

Highlights from the phase-two program include 24 metres from 48 metres downhole grading 0.54 gram gold per tonne, and 40 metres from 7 metres downhole grading 0.55 gram gold.

Drilling at Goldlund has kept to a 3 km stretch of the property’s 50 km strike length. The company will now look to begin the next exploration phase, which will include mapping, sampling and step-out drilling to test historic holes up to 8 km at the northeastern and southwestern limits of the strike length.

The company will drill 2,000 metres across 14 step-out holes mid-year, and evaluate the results before making any more exploration decisions at Goldlund.

“We’re going to take it one step at a time,” First Mining president and CEO Jeff Swinoga says in a telephone interview with The Northern Miner.

“Every campaign has an objective.

The objective for the infill, of course, is to improve the confidence, and the purpose of the step-out is to define the extensions along strike.

Then we’ll take it from there.”

Swinoga became CEO in January 2018, taking over for Chris Osterman, who is now the company’s chief operating officer. Before joining First Mining, Swinoga served for four years as the chief financial officer for Torex Gold Resources (TSX:

“THE ULTIMATE GOAL IS TO CREATE A LARGE, WELL-DIVERSIFIED GOLD PRODUCER IN CANADA, WITH MULTIPLE MINES PRODUCING,” SWINOGA SAYS. “WE HAVE THE ASSETS TO DO THAT.” JEFF SWINOGA PRESIDENT AND CEO, FIRST MINING GOLD

First Mining Gold’s Goldlund gold project near Dryden, Ontario. FIRST MINING GOLD

TXG), where he financed US$400 million of Torex’s US$800-million El Limon-Guajes gold mine. Before that, he was the chief financial officer of North American Palladium (TSX: PDL). He is currently a director at First Cobalt (TSXV: FCC).

“I’m kind of a bigger company guy,” Swinoga says. “I like putting in systems and processes, and developing projects.”

First Mining acquired Goldlund in June 2016 by merging with Tamaka Gold. The property hosted an open-pit and underground mine from 1982 to 1985. It has 9.3 million indicated tonnes grading 1.87 grams gold for 560,000 oz. gold, and 40.9 million inferred tonnes grading 1.33 grams gold for 1.75 million oz. gold.

First Mining has three other major gold projects in Ontario: Pickle Crow, Cameron and Springpole.

Cameron is near Goldlund, while Pickle Crow and Springpole are a few hundred kilometres northeast, near Red Lake.

“There are lots of synergies,” Swinoga says. “We have a situation where you could bifurcate them into two, but I like to think of them as all together. We’re looking at this from a holistic approach.”

The 132 sq. km Pickle Crow project hosts 10.2 million inferred tonnes grading 3.9 grams gold for

13 million oz. gold; and the 429 sq. km Cameron project hosts 5.53 million measured and indicated tonnes grading 2.61 grams gold for 464,000 oz. gold, and 6.54 million inferred tonnes at 2.54 grams gold for 533,000 oz. gold.

At its most advanced project, Springpole, First Mining began a provincial environmental assessment in April, which Swinoga says could take two years.

“In the meantime, we’re building a framework for how we want to conduct ourselves to be successful,” Swinoga says. “We want to build long-term trust with local communities and indigenous peoples.

It’s really just educating people to have a clear understanding of how we want to do mining at Springpole.”

The 322 sq. km Springpole gold project is 110 km northeast of Red Lake. It has 139.1 million indicated tonnes grading 1.04 grams gold and 5.4 grams silver for 4.67 million oz. gold and 24.19 million oz. silver.

First Mining acquired Springpole in November 2015, when it bought out Gold Canyon Resources.

It tabled a preliminary economic assessment for the project last September that assigned Springpole a US$792-million, after-tax, net present value at a 5% discount rate, and a 26.2% after-tax internal rate of return. The company proposed

A drilling barge at First Mining Gold’s Springpole gold property, 110 km northeast of Red Lake, Ontario. FIRST MINING GOLD

a 36,000-tonne-per-day processing facility that produces 296,500 payable oz. gold and 1.6 million payable oz. silver over 12 years.

Swinoga adds that First Mining could pour first gold at Springpole in five years. The company aims to begin a pre-feasibility study by early 2019.

“As we continue to develop these projects, the potential to generate a lot of jobs and infrastructure in the

area is tremendous,” Swinoga says.

Shares of First Mining are valued at 52¢, within a 52-week range of 40¢ to 63¢. The company has a $287-million market capitalization. It has 12 projects in Canada, 12 more in Mexico and one in Nevada.

“The ultimate goal is to create a large, well-diversified gold producer in Canada, with multiple mines producing,” Swinoga says. “We have the assets to do that.” TNM

CANADIAN GOLD SNAPSHOT SNAPSHOT From 11 delineation drilling. The objectives are to test for extensions of existing resources, follow up on significant drill results and investigate new exploration targets.

METALLIS RESOURCES Vancouver-based Metallis Resources (TSXV: MTS; US-OTC: MTLFF) is another grassroots explorer active in northwestern B.C.’s Golden Triangle region, where it has its wholly owned Kirkham property, which is prospective for gold, copper, silver and nickel.

The Kirkham property is 65 km north of Stewart, B.C., and the property’s northern border is contiguous to Garibaldi Resources’ E&L Nickel Mountain project, whereas the northeast corner of Kirkham is within 12 km of the Eskay Creek mine, and the eastern border is within 15 km of Seabridge Gold’s KSM deposits and Pretium Resources’ Brucejack mine.

The Kirkham property was assembled over the years by worldrenowned copper-gold expert Rodney Kirkham, and then vended into Metallis.

Metallis says the property features

1-16, 23_May28_Main .indd 12

several geological environments — magmatic sulphide, porphyry and shear vein — and has the “potential for a world-class mineral discovery.”

landed an aggregate $505-million financing package that will fully fund mine construction at Eagle Gold.

In March Geotech finished an airborne, versatile time-domain electromagnetic survey over the Thunder North, Thunder South and King target areas within the Kirkham property.

The financing involves Orion Mine Finance, Osisko Gold Royalties and Caterpillar Financial Services. It holds two credit facilities totalling US$175 million; an equipmentfinancing facility for up to US$50 million; a $98-million royalty financing; and a private placement of Victoria common shares to two separate subscribers for a total of $125 million.

Metallis says results will be integrated with historical data to prioritize targets for followup groundwork during the 2018 exploration season, which could start as soon as weather conditions allow.

The mining rate is planned at 33,700 tonnes per day, producing 1.88 million oz. gold over 10 years.

SUNVEST MINERALS Vancouver-based junior Sunvest Minerals (TSXV: SSS; US-OTC: SRKZF) has been been staking new ground around its Clone gold property, adding 39 sq. km to a property that now stands at 107 sq. km., located 16 km southwest of IDM Mining’s development-stage Red Mountain gold project.

Sunvest says it wanted to “strengthen positions around several previously held Minfile prospects and showings acquired in October 2017, and to cover possible extensions of mineralized showings

Underground at Kirkland Lake Gold’s Macassa gold mine in Ontario. KIRKLAND LAKE GOLD from neighbouring company’s properties.”

In recent months, Sunvest has been resampling historic core drilled at the site in 1995, and is confirming high-grade gold intercepts over significant widths. The work is helping Sunvest plan a follow-up drill campaign.

VICTORIA GOLD Victoria Gold (TSXV: VIT; US-OTC: VITFF) is building a mine at its Eagle Gold project on its Dublin Gulch property in the Yukon, which hosts a reserve of 123 million tonnes grading 0.67 gram gold per tonne, or 2.7 million oz. gold.

In March, the Toronto-based junior

In mid-May, Victoria Gold entered a hedging program with Macquarie Bank to “mitigate the risk associated with adverse fluctuations and volatility in the price of gold during the critical early years of operation and debt repayment.”

Victoria says the hedging program is unsecured and a zero-cost collar, and comprised of 100,000 oz. of put options purchased with a strike price of $1,500 per oz.; and 100,000 oz. of call options sold with a strike price of $1,936 per oz. gold. The 100,000 oz. gold include 40,000 oz. in 2020 and 60,000 oz. in 2021. TNM

2018-05-22 6:13 PM

CANADIAN GOLD

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 28–JUNE 10, 2018

13

Osisko Mining builds critical mass in Quebec EXPLORATION

1-16, 23_May28_Main .indd 13

deposit that is located very close to the possible site for a planned, future Windfall-Lynx gold mill in Lebel-sur-Quévillon.”

This would mean capital expenses for Osborne-Bell would be “essentially immaterial,” he said.

In the meantime, Osisko is drilling at both Osborne-Bell and Windfall-Lynx to turn inferred resources to indicated and expand the deposits.

It plans to drill 800,000 metres at Windfall-Lynx (Lynx is northeast of Windfall) and 50,000 metres at Osborne-Bell, and the surrounding Quévillon area.

Osisko’s exploration budget this year for its Quebec projects is $100 million.

The budget includes resource estimation, resource-oriented drilling, exploration ramp and underground bulk sampling of mineralized zones, metallurgical work, permitting, PEA and feasibility studies, and exploration drilling.

Osisko released the latest batch of assays from 12 drill holes and five wedges at Windfall on May 1.

Highlights include 34.3 grams gold over 4.5 metres, 13 grams gold over 5.7 metres, 27.7 grams gold over 2.1 metres and 25.5 grams gold over 2.1 metres.

Core samples on display at Osisko Mining’s Windfall gold project in Quebec. OSISKO MINING

Drill core samples from the Windfall gold project. OSISKO MINING

Although Osisko’s focus is on Quebec, where it is the province’s most active explorer, the company has set aside a $3-million exploration budget this year for its wholly owned Garrison project in Ontario.

This will include exploration drilling, resource estimation, infill drilling, and metallurgical work, and the company expects to finish a resource update on three zones of the deposit

(Garrcon, Jonpol and 903).

Between early 2016 and January 2018, Osisko drilled 85,000 metres to add to the 108,000 metres drilled by previous operators.

It also conducted dewatering and geological mapping of the Garrcon bulk-sample pits during 2017.

Osisko Mining has the same management team, engineers and geologists, and many of the same

directors, that put Canada’s largest gold mine — Canadian Malartic — into production.

The mine moved from first drill hole to first gold pour in a little over six years, but was taken over in a bidding war that culminated in a $4-billion offer from Agnico Eagle Mines (TSX: AEM; NYSE: AEM) and Yamana Gold (TSX: YRI; NYSE: AUY) in 2014. TNM

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n the first five months of the year, Osisko Mining (TSX: OSK) released resource estimates for two projects in Quebec while keeping in step with an ambitious drill program that is the largest of its kind in Canada.

In early May, Osisko unveiled its first resource estimate on its wholly owned Windfall deposit, 115 km east of the town of Lebel-sur-Quévillon.

Windfall is one of the highestgrade, resource-stage gold projects in Canada.

The company outlined indicated resources of 2.38 million tonnes grading 7.85 grams gold per tonne for 601,000 contained oz. gold and inferred resources of 10.61 million tonnes grading 6.7 grams gold for 2.28 million oz. gold, using a cut-off grade of 3 grams gold per tonne.

The estimate is based on 1,453 drill holes (596,733 metres) completed by previous operators on the project since 1997, and 812 new holes (413,692 metres) that Osisko drilled between October 2015 and March 2018.

The resource does not include 131 holes (about 40,000 metres) that were drilled, mainly in Windfall’s Lynx and Underdog zones, since March 5.

The gold-bearing, intrusive-related system is open along strike to the northeast and at depth, and the Lynx and Underdog zones have downplunge potential for more mineral resources, the company says.

Osisko acquired Windfall in 2015 from its previous owner, Eagle Hill Exploration. At the time, Eagle Hill had defined a resource of 1.5 million oz. gold from two main zones (Cariboo and 27).

In addition to Windfall-Lynx, Osisko reported a new resource for its Osborne-Bell deposit, 15 km northwest of Lebel-sur-Quévillon.

In March, Osisko delineated an inferred resource of 510,000 oz. gold (contained in 2.59 million tonnes grading 6.13 grams gold).

The resource uses a cut-off grade of 3 grams per tonne and is based on 927 holes drilled by previous operators since 1994, including 50 that were drilled after the last resource update was published in 2012, and four new holes that Osisko has drilled since December 2017.

Osborne-Bell is open at depth below 500 metres.

The Windfall and Osborne-Bell deposits will have a single preliminary economic assessment (PEA) — scheduled for the third quarter of this year — that would model a blended mining scenario with processing at a central Lebel-surQuévillon mill site.

In April 2017, the company acquired land 103 km west of Windfall and 11 km from Lebel-sur-Quévillon that it says could host a mill complex. The property is next to a Hydro-Québec electric substation and near a former Domtar pulp and paper mill, with access to a water-pumping station that could meet the needs of a mill.

John Burzynski, Osisko’s president and CEO, could not be reached for comment on the resource estimates. But in a press release, he says the company acquired Osborne-Bell less than a year ago for $1.5 million.

“We had made no assumptions regarding resources during the bankruptcy acquisition of the deposit and surrounding properties in 2017,” he said. “This first estimate points to a potentially significant

ALTHOUGH OSISKO’S FOCUS IS ON QUEBEC, WHERE IT IS THE PROVINCE’S MOST ACTIVE EXPLORER, THE COMPANY HAS SET ASIDE A $3-MILLION EXPLORATION BUDGET THIS YEAR FOR ITS WHOLLY OWNED GARRISON PROJECT IN ONTARIO.

5360000

BY TRISH SAYWELL tsaywell@northernminer.com

| Releases resource estimates for two projects

490000

500000

Lease

Mining Division

Township

Number of Claims

Area (ha)

109121

Larder Lake

Wilkie

12

194.249

Expiry Date 2033-May-31

109119

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Walker

4

64.952

2033-May-31

109118

Porcupine

Clergue

1

16.187

2033-May-31

107313

Porcupine

Stock

20

322.837

2021-July-31

109120

Porcupine

Ogden

6

106.121

2033-May-31

510000

520000

530000

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2018-05-22 6:13 PM

14

MAY 28–JUNE 10, 2018 / THE NORTHERN MINER

CANADIAN GOLD

WWW.NORTHERNMINER.COM

At Cartier Resources’ offices in Val-d’Or, Quebec, from Left: Eric Lemieux, mine and exploration analyst; Alain Beland, investor relations consultant; Gaétan Lavallière, vice-president of exploration; and Jerome Gendron, shareholder. CARTIER RESOURCES

Cartier Resources cuts more high grade at Chimo CARTIER From 9

says. “They had to be partially delineated — but not too deep — close to infrastructure, and they had to be things that had been in some filing cabinet of a junior exploration company that didn’t have a lot of cash. We focused on stuff that had been de-risked at least from the discovery standpoint, and where there was a lot of upside potential at depth.”

The first project that met those parameters was Benoist, which Cartier Resources picked up for $250,000 in May 2013.

Benoist, 30 km from Nyrstar’s Langlois zinc-copper-silver mine and 25 km from Metanor Resources’ (TSXV: MTO) Bachelor gold mine, has a historic resource of 531,428 tonnes grading 5.52 grams gold per tonne, 12.1 grams silver per tonne and 0.27% copper.

The deposit was found in the early 1990s and most of the drilling — 72 holes — was done before the Bre-X implosion.

Highlights from Cartier Resources’ drill programs at Benoist between 2012 and 2014 include a 65-metre intercept grading 1.7 grams gold, with a 3-metre interval of 24.5 grams gold.

The deposit has a large alteration envelope and is open at depth and laterally.

Cartier’s second acquisition — for $261,000 in June 2013 — was the past-producing Chimo mine, 43 km east of Val-d’Or, which it picked up with a bid on a bankruptcy sale managed by PwC. Between 1964 and 1997, three producers mined 14 zones at the mine, churning out 379,012 oz. gold.

The third operator, Cambior, shut it down, but “not for lack of ore,” Cloutier says.

“Cambior had delineated quite a bit of ore underground, but they shut it down because the gold price was US$275 per oz., and they were just barely making money,” he says.

“Cambior shut down two other mines in the Abitibi at the same time.”

Mine infrastructure consists of a three-compartment shaft that goes down 965 metres, and a network of

1-16, 23_May28_Main .indd 14

drifts on 19 levels.

“It’s proximal to infrastructure and a qualified workforce, and it’s a past producer, so we won’t have any surprises with metallurgy or rock mechanics,” Cloutier says. “It’s an asset we think we can fast track, if we’re successful drilling it this year.”

The company is undertaking a 34,000-metre drill program, 8,000 metres of which focuses on deep targets below the historic mine, and 26,000 metres on depth and lateral extensions of the deposit’s 23 known gold zones.

The company has four drills turning and is using control-directional drilling, designed to cut several gold-bearing zones and explore the potential depth extensions of the gold zones beneath past-producing stopes.

In March, Cartier Resources reported an intercept of 8.5 grams gold over 3.5 metres, 205 metres beneath Chimo’s deepest stope.

The intersection included 2 metres of 14.6 grams gold. The drill hole intersected mineralization at 1,050 metres along the depth extensions of gold-bearing Zone 5, which produced two-thirds of the ounces that were mined historically. Another hole returned 7.6 grams gold over 5 metres, 235 metres beneath the deepest stope. The intersection included 60 metres of 1 gram gold.

“This old mine is probably going to get a new life through this drill program,” Cloutier says of the company’s flagship asset.

The third asset Cartier Resources acquired, for $42,000 in May 2016, was the Wilson project, 130 km northeast of Val-d’Or, 15 km east of Lebel-sur-Quévillon and 7 km from where Osisko Mining (TSX:OSK) plans to build a mill at its Windfall project.

Freewest Resources drilled the project in the mid-1990s, completing a non-compliant resource of 187,706 tonnes with an average grade of 7.1 grams gold.

Freewest optioned it off to Viking Gold, which then sold it to Cartier Resources.

“Basically Viking Gold had lost interest. The markets had turned on them, and we were there and paid on the eve of them becoming

Cartier Resources’ president and CEO Philippe Cloutier illustrates the targeting approach for diamond drilling at the historic Chimo mine. CARTIER RESOURCES

“THE PHILOSOPHY WHEN SOMEONE IS DROWNING IS THAT YOU’RE MORALLY OBLIGED TO GIVE THEM A LIFE JACKET, BUT YOU DON’T HAVE TO BUY THEM A YACHT.” PHILIPPE CLOUTIER FOUNDER, PRESIDENT AND CEO, CARTIER RESOURCES

a delinquent, so we saved the day for them and got a 100% interest,” Cloutier says. “The philosophy when someone is drowning is that you’re morally obliged to give them a life jacket, but you don’t have to buy them a yacht.”

Cloutier notes that there is potential at depth that has not been tested because previous drilling only went down to 200 metres.

Wilson was “way too small for anything to be considered, but the project takes on a new valuation because it happens to be in a band of

rocks that is extremely popular with companies like Bonterra, Metanor and Osisko,” he says.

What’s more, the whole package of rocks and fault zones in the area are just north of the 49th parallel, “which happens to be the geographical southern limit of Quebec’s Plan Nord,” he says. “So projects in that area get special treatment by the Quebec government.”

Cartier Resources has three main drill zone targets at Wilson, and all three zones are open at depth.

The company has $16 million in

cash and no debt. It expects to end the year with $10 million in the bank.

Cloutier reckons that Cartier Resources’ acquisition costs work out to $1 per oz., based on historic resource estimates.

“Our strategy was to acquire legacy projects, stuff that already had meat on the bone,” he says. “We held in there, weathered the storm, and now we’re in an enviable position.

“Fortunately, we had the cash to do it and a board that supported us, he adds. “Some people say we got lucky, but we engineered our luck.”

The investment from Agnico Eagle in December 2016 was a turning point, he says. The gold major invested $4.5 million for a 19.9% interest. As of April, Agnico held a 17% stake in the junior.

“Agnico has a good reputation for doing good due diligence, and that attracted the attention of JP Morgan UK, which took a position of just under 10%, and injected $6 million.

And there were a few other financings, one with Paradigm Capital and one with Sprott, which brought us up to $16 million. And all of that because Agnico took a shine to us.”

J.P. Morgan owns 8.3%, and Quebec institutions, 13%.

“The new thing is partnership with senior companies that not only sponsor you financially, but they also backstop you, from a technical point of view,” he says. “They are a great sponsor to have because not only did they do the initial investment, but when we did subsequent financings, they were there to maintain their interest. And whenever we want to have a brainstorm session and compare notes, their team is there … and help us in every way they can.”

On his more recent marketing trips, Cloutier says people are often surprised that they have never heard of the Cartier story.

The reason, he says, is simple.

“We were busy building the story in the bear market, and we had very little money to go out there and tell the story, which would have fallen on deaf ears anyway, so we chugged along, and then 2016 comes along and Agnico invests, and by now, people are saying: ‘Phil, get out there and tell this story. This needs to be heard.’” TNM

2018-05-22 6:13 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 28–JUNE 10, 2018

15

Leagold pursues new resource at Los Filos gold mine MEXICO

BY RICHARD QUARISA

L

rquarisa@northernminer.com

eagold Mining (TSX: LMC) has tabled new step-out drill results from the underground portion of its Los Filos gold mine, 230 km south of Mexico City. The company has drilled 12,000 metres so far this year at Los Filos and will look to drop another 50,000 metres, as it attempts to build resources and replace reserves at the active mine.

Highlights from the latest round of assays include 7 metres from 61 metres downhole at 5.06 grams gold per tonne, including 5 metres from 87 metres downhole grading 27.44 grams gold, as well as 9 metres from 266 metres downhole grading 9.07 grams gold.

Leagold acquired Los Filos in 2017 from Goldcorp (TSX: G; NYSE: GG). The mine features two open pits and an underground mine. At the end of 2017, Los Filos contained 61.4 million proven and probable tonnes grading 1.26 grams gold for 2.49 million oz. gold, with another 216,000 oz. gold in probable heap-leach inventory. It began 2017 with 1.7 million oz. gold and mined 300,000 oz. gold.

Los Filos also has 380.6 million measured and indicated tonnes grading 0.94 gram gold for 11.5 million oz. gold and 9.29 grams silver for 113.6 million oz. silver,

| Completes 12,000 metres of 62,000-metre drill campaign in 2018

as well as 240.5 million inferred tonnes at 0.74 gram gold for 5.74 million oz. gold and 10.23 grams silver for 79 million oz. silver. The company says it will incorporate 2018 drill results into an updated resource estimate at year-end.

The company is also about to close its acquisition of Brio Gold (TSX: BRIO), which has three operating gold mines and one gold development project in Brazil.

“What we liked about Brio is that it was really consistent with our strategy in Latin America,” Leagold vice-president of investor relations Meghan Brown says in a telephone interview with The Northern Miner.

“The strategy we defined at the very outset of this company was called ‘buy and build,’ meaning to buy assets that have the capacity to be built out.

“We’re looking for gold assets, for producing mines and for a minimum of 100,000 oz. per year.”

In 2017, Brio produced 43,100 oz. gold at its Riacho dos Machados open-pit gold mine in Minas Gerais, Brazil, with production for 2018 pegged at 75,000 oz. gold. It produced 61,000 oz. gold last year at its Fazenda Brasileiro underground gold mine in Bahia, Brazil, and could increase production by as many as 14,000 oz. gold this year. It produced 73,900 oz. gold last year at its Pilar underground gold mine in Goias, Brazil, with production

“THE STRATEGY WE DEFINED AT THE VERY OUTSET OF THIS COMPANY WAS CALLED ‘BUY AND BUILD,’ MEANING TO BUY ASSETS THAT HAVE THE CAPACITY TO BE BUILT OUT.” MEGHAN BROWN VICE-PRESIDENT OF INVESTOR RELATIONS, LEAGOLD

likely to decline slightly in 2018.

Brio is also reviving its Santa Luz gold project in Bahia state, which suffered metallurgical problems after being fast-tracked to production in 2013, and had to be put on care and maintenance. Those issues have now been resolved. Brio says the project could produce an average 100,000 oz. gold per year over 10 years, according to a 2017 feasibility study.

Brown says Leagold will need time after closing the deal to evaluate all Brio’s mine plans.

“We’re not done,” Brown adds.

“We will probably need some period of time to integrate these assets into Leagold, and after that we will turn our attention back to growth — just as we did with Los Filos. It took a few months to integrate it into our company, and then we turned our attention back to mergers and acquisitions.”

In the first quarter of 2018, Leagold mined 101,000 tonnes ore from

the Los Filos underground mine at 5.47 grams gold per tonne. It mined 2 million tonnes ore at the open pits at 0.57 gram gold. Overall, the mine produced 51,003 oz. gold — on track for the company’s 2018 guidance of 215,000 to 240,000 oz. gold.

It also stopped processing lowgrade, run-of-mine material. As a result, 41% less tonnes of ore reached heap-leach pads, compared to the previous quarter.

“It’s very low-grade and very low-recovery material,” Brown says. “It’s the highest-cost material, so we’re focusing instead on the higher-grade and higher-recovery material.”

She adds the company may go back to processing the lower-grade material later in the mine’s life.

At the end of March, the company had US$53 million in cash and equivalents. It had all-in sustaining costs of US$1,039 per oz. that Leagold expects to drop to at least US$925 by year-end.

The company is also building a second underground mine at Los Filos. So far it has completed 750 metres of development of its Bermejal underground mine. Brown says the company will have to build a 1.3 km ramp to access the main highgrade orebody. Leagold expects to test mine by mid-year and release a reserve estimate on Bermejal around the same time.

“It will take Los Filos’ production from around 200,000 oz. to as much as 350,000 oz.,” Brown says.

“So even without Brio, we have a growth platform at Los Filos.”

T he compa ny completed a 56,000-metre drill program at Bermejal last year that defined the current resource. The project has 10.8 million measured and indicated tonnes grading 5.96 grams gold for 2 million oz. and 19.6 grams silver for 6.8 million oz. It will require US$50 million to bring to production.

The company is also working on a study for a new carbon-in-leach plant that should be finished by mid-year.

“The rationale for that is it will enable us to process a number of different types of ore and get higher recoveries — in particular on the high-grade ore,” Brown says.

Leagold shares are valued at $2.80 within a 52-week range of $2.27 to $3.48. The company has a $432-million market capitalization. TNM

Leagold’s Los Filos gold mine — 230 km south of Mexico City — in 2017. LEAGOLD

1-16, 23_May28_Main .indd 15

2018-05-22 6:13 PM

16

WWW.NORTHERNMINER.COM

MAY 28–JUNE 10, 2018 / THE NORTHERN MINER

Looking west at trenches in the Paunch area at Guyana Goldstrike’s Marudi gold property in Guyana. GUYANA GOLDSTRIKE

Guyana Goldstrike trenches Marudi, ahead of drilling GUYANA From 1

at Paunch.

The company is on an exploration hiatus as it awaits results from the trenching. It will then complete an aeromagnetic survey with radar imaging and radiometrics — the first airborne survey ever done on the property. Exploration work at Marudi so far has only covered 5%

of the 56 sq. km property.

Guyana Goldstrike vice-president of exploration Locke Goldsmith says this work should help the company prospect its land.

“The down payment has been made and the geophysical equipment is in Guyana at the helicopter base,” Goldsmith says during a telephone interview with The Northern Miner.

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“Right now we’re just waiting for the best weather,” he adds, noting that thunderstorms can be an issue.

The company will look to drill the property later this year, but not before completing more preliminary exploration. Locke says its drilling will depend on how many targets the exploration work yields.

The company has not yet drilled Marudi, but tabled a resource estimate for Mazoa Hill in late 2017 based on drilling by previous operators. Mazoa Hill contains 4.4 million indicated tonnes grading 1.8 grams gold per tonne for 259,100 oz. gold, as well as 1.65 million inferred tonnes at 1.6 grams gold for 86,200 oz. gold.

The resource is based on trenching and 63 drill holes. The mineralization has been traced along 300 metres of northwest strike, 150 metres wide, and to 250 metres below surface. The zone has mineralized quartzite but is covered in a layer of gold-bearing saprolite up to 30 metres thick.

Marudi North is a 0.4 sq. km target located 100 metres from Goldstrike’s main camp. From 1946 to 2004, three different operators drilled 49 holes into the zone for close to 10,000 metres. Goldstrike has data for 35 of those holes, but could not interpret the morphology with enough confidence to support a resource estimate.

Guyana Goldstrike’s exploration program is being funded by a $3.2-million investment from the

EVENTS Jun 6-7 Canadian Mining Expo McIntyre Community Centre, Timmins, ON Toll-free: 1 (866) 754-9334 Tel: (705) 264-2251 Email: a.guindon@canadiantradex.com Website: https://canadianminingexpo.com/ contact-us

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“WE COULD MINE TODAY. WE HAVE A MINING LICENCE AND WE ARE OF THE OPINION THAT WE SHOULD EXPLOIT IT.” PETER BERDUSCO PRESIDENT AND CEO, GUYANA GOLDSTRIKE

Zijin Mining Group, which made a strategic investment in the company in February via its wholly owned subsidiary Gold Mountains Asset Management.

“Zijin thought this property was severely underexplored,” Guyana Goldstrike president and CEO Peter Berdusco says. “They did the $3.2 million based on completing all of our trenching and our first phase of drilling, and potentially some of our second phase.”

Peter says the money will keep Goldstrike funded into 2019, although he notes that as a junior explorer his company never stops having financing conversations. In a technical report published by the company in December 2017, Goldstrike pegged its 2018 exploration budget at US$1.57 million.

Artisanal miners have mined alluvial gold from creeks on the property since the 1930s. Goldstrike has an agreement with the six current alluvial mining groups wherein those groups are allowed to continue to operate on the property in exchange for a 10% royalty on gold they recover. Over the past year, Goldstrike has collected $250,000 in royalties.

“So that’s a nice little bonus for us, because the interest of the company isn’t really the alluvials or creeks,” Berdusco says.

When Goldstrike starts drilling the property, it will allow the alluvial miners to continue working because “they really aren’t in the way.”

The company holds an 18-year mining licence for the Marudi project. The project’s previous operator Romanex Exploration applied to convert its prospecting licence to

a 20-year mining licence in June 2003. The Guyanese government granted the licence in April 2009.

The licence can be renewed for another seven years or the life of the deposit — whichever is shorter.

Formerly named Swift Resources, Guyana Goldstrike acquired Romanex in March 2017.

“We could mine today,” Berdusco says. “We have a mining licence and we are of the opinion that we should exploit it.”

As a result, the company says it is “exploring strategies” on mining gold in the saprolite at Mazoa Hill, which “is simply overburden.” It is considering starting a feasibility study on the saprolite this year.

In February, the company formed the Gold and Silver Ethereum Strategic Alliance with Canamex Gold (TSX: CSQ), Cabral Gold (TSXV: CBR), Arizona Silver (TSXV: AZS) and Altamira Gold (TSXV: ALTA).

The concept is to issue a cryptotoken redeemable for royalties on gold from Goldstrike’s property.

For example, if Goldstrike sold a royalty worth 5,000 oz. gold, the buyer would advance Goldstrike the money, leaving Goldstrike with an obligation to deliver the gold sometime in the future.

“We’re always looking for opportunities to finance that are attractive to the shareholders of the company,” Berdusco says. “We have an opportunity through this alliance to fund the company through financing that is not equity based.”

At press time, shares of Guyana Goldstrike traded at 27¢ per share within a 52-week range of 14¢ to 38¢. The company has a $14-million market capitalization. TNM

2018-05-22 6:13 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 28–JUNE 10, 2018

17

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2018-05-22 3:18 PM

18

WWW.NORTHERNMINER.COM

MAY 28–JUNE 10, 2018 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / MAY 14–18 Canada’s benchmark index rose 0.47% to 16,162.31 during a week that saw little movement in Canadian markets. The S&P/TSX Global Mining Index rose 0.12% to 75.25 and the S&P/TSX Global Gold Index fell 2% to 186.95. West Texas Intermediate crude rose 0.45% to US$71.28, while the gold price fell 2% to US$1,291.9 per oz. gold.

Shares of NioCorp Developments rose 18.2% to 65¢. The company’s shares soared after the Trump administration classified niobium, scandium and titanium — minerals NioCorp intends to mine at its Elk Creek project in Nebraska — “critical minerals,” along with 32 others. The Trump administration says these minerals will have “key uses in national defense and civilian technologies,” for which “the U.S. is currently 100% dependent on foreign nations, such as China and Russia.”

The company tabled a feasibility study for Elk Creek in mid-2017 and is working on detailed engineering for the project’s proposed underground infrastructure. The project has a $1.7-billion after-tax net present value, with a 21.7% after-tax internal rate of return and 32-year mine life. It has 31.7 million probable tonnes grading 0.79% niobium, 2.81% titanium dioxide and 71.6 grams per tonne scandium.

Shares of Ero Copper rose 16.3% to $8.85.

The company recently found a parallel copper mineralization zone within the Pilar underground mine on its Vale de Curaca property in Bahia State, Brazil. The zone, called the West Limb, is 200 metres west of Pilar’s infrastructure. It stretches 1,300 metres over a north–south strike length and reaches at least 500 metres deep.

The company found the zone by combining 61 historic drill holes with data from its own structural models of the known resource. It plans to infill drill the West Limb to verify historic drill results.

Ero’s Vale do Curaca property has 8.86 million proven and probable tonnes grading 2.49% copper for 220,500 tonnes copper.

Shares of Northern Dynasty Minerals fell 20.6% to 85¢. The company recently extended TSX MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Kinross Gold K 15786 4.82 4.48 4.64 - 0.13 Suncor Energy SU 15688 53.43 51.20 52.76 + 1.84 Yamana Gold YRI 10612 3.77 3.55 3.61 - 0.12 First Quantum FM 10584 22.27 20.31 21.94 + 1.11 B2Gold BTO 10522 3.69 3.42 3.45 - 0.22 Nutrien NTR 9721 66.57 62.45 66.31 + 3.80 Lundin Mng LUN 9654 8.80 8.39 8.51 - 0.04 Osisko Mng Inc OSK 9399 2.82 2.01 2.27 - 0.48 OceanaGold OGC 9158 3.38 3.22 3.26 - 0.12 Barrick Gold ABX 9145 17.35 16.75 16.95 - 0.28

its option agreement framework deadline with First Quantum Minerals until the end of May — the second time the company has extended the deadline since the beginning of April.

Under the agreement, First Quantum can earn a 50% interest in Northern Dynasty’s Pebble polymetallic project in Alaska. First Quantum signed the agreement in December 2017 and paid a US$37.5-million install-

ment. Northern Dynasty says the option agreement will be finalized in the second quarter of 2018. To earn its interest, First Quantum must invest US$1.5 billion in the Pebble project. The option is valid for four years, but can be extended for as many as two one-year terms.

Northern Dynasty is permitting the project.

It began the three-year process in January 2018. TNM

TSX GREATEST PERCENTAGE CHANGE

St Augustine Goldgroup Mng Lithium Amer Niocorp Dev Serabi Gold Ero Copper Forsys Metals Eastmain Res Verde Potash Potash Ridge Nthn Dynasty Osisko Mng Inc Sulliden Mng Kerr Mines New Milln Iron TMAC Resources Nighthawk Gold Fortune Mnrls Argex Titanium Perseus Mng

SAU GGA LAC NB SBI ERO FSY ER NPK PRK NDM OSK SMC KER NML TMR NHK FT RGX PRU

286 572 2178 718 40 773 261 756 182 2069 2661 9399 521 1219 890 1418 685 4468 583 348

0.03 0.08 8.85 0.65 0.07 8.90 0.12 0.28 0.81 0.09 1.06 2.82 0.37 0.25 0.09 6.49 0.60 0.23 0.05 0.46

0.02 0.06 6.92 0.52 0.00 7.54 0.11 0.24 0.00 0.08 0.84 2.01 0.32 0.21 0.00 5.19 0.53 0.18 0.04 0.40

0.03 0.08 8.32 0.65 0.07 8.85 0.12 0.28 0.80 0.09 0.85 2.27 0.32 0.21 0.07 5.53 0.54 0.20 0.04 0.42

+ + + + + + + + + + - - - - - - - - - -

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Nutrien Suncor Energy Lithium Amer Ero Copper First Quantum Teck Res North Am Pall MAG Silver Teck Res Torex Gold Franco-Nevada Agnico Eagle Altius Mnrls Endeavour Mng Nexa Resources TMAC Resources SSR Mining Osisko Mng Inc Seabridge Gld Pan Am Silver

25.0 25.0 19.0 18.2 16.7 16.3 15.0 14.6 14.3 13.3 20.6 17.5 14.9 12.5 12.5 12.1 11.5 11.1 11.1 8.8

VOLUME WEEK (000s) CLOSE CHANGE

NTR SU LAC ERO FM TECK.B PDL MAG TECK.A TXG FNV AEM ALS EDV NEXA TMR SSRM OSK SEA PAAS

9721 66.31 15688 52.76 2178 8.32 773 8.85 10584 21.94 8442 36.34 92 11.68 770 14.88 14 36.20 1255 13.32 2278 91.10 2558 55.46 284 13.00 1849 21.43 3 21.71 1418 5.53 902 13.25 9399 2.27 245 13.53 1177 22.67

+ 3.80 + 1.84 + 1.33 + 1.24 + 1.11 + 0.78 + 0.78 + 0.68 + 0.59 + 0.58 - 2.74 - 1.68 - 1.18 - 1.01 - 0.89 - 0.76 - 0.61 - 0.48 - 0.47 - 0.46

TSX VENTURE EXCHANGE / MAY 14–18 The S&P/TSX Venture Composite Index rose 0.45% to 786.9 over the trading period.

Shares of Millennial Lithium increased 57¢ to $2.70 on news the junior has hired Peter Ehren, an expert on lithium brines and evaporative processes. Ehren has worked in lithium basins around the world, most recently at Orocobre’s producing Salar de Olaroz in Argentina. Ehren was also part of SQM’s team of evaporation technology experts at Salar de Atacama in Chile, one of the world’s richest lithium deposits. A preliminary economic assessment (PEA) of Millennial Lithium’s flagship project, Pastos Grandes, in Argentina, envisioned production of 25,000 tonnes of lithium carbonate a year over a 25-year mine life. The study estimated an US$824-million, after-tax net present value at an 8% discount rate and a 23.4% internal rate of return. Capex was estimated at US$410 million. The company is proceeding with a feasibility study and says the project could produce within two years.

Metallurgical tests from the Macmillan Pass project in the Yukon sent Fireweed Zinc up 49¢ to $2.04 per share. The test work, part of an upcoming PEA, shows the project can produce zinc and lead concentrates desirable to potential traders and global smelter customers, Fireweed says. The results showed

a global composite zinc concentrate grading 58% zinc at an 89% zinc recovery, and lead concentrate containing 61% lead at 75% lead recovery. Fireweed’s wholly owned project, 200 km northeast of the community of Ross River, hosts the Tom and Jason zinc-lead-silver deposits. The project has indicated resources of 11.21 million tonnes grading 6.59% zinc, 2.48% lead and 21.33 grams silver per tonne (9.61% zinc equivalent). Inferred resources add 39.47 million tonnes grading 5.84% zinc, 3.14% lead and 38.15 grams silver (10% zinc equivalent).

Desert Lion Energy’s shares gained 18¢ to finish at $1.26. The company announced that it can build its phase-one flotation plant — capable of processing between 350,000 tonnes and 400,000 tonnes of feed per year — for TSX-V MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Encanto Potash EPO Pacton Gold PAC Gratomic GRAT Cobalt Pwr Grp CPO Gespeg Cop Res GCR North Am Nickl NAN Knick Expl KNX Leeta Gold HIVE New Age Metals NAM Select Sands SNS

6861 6575 5307 4880 4361 4133 4065 3736 3632 3552

0.30 0.59 0.15 0.16 0.03 0.08 0.03 1.34 0.09 0.47

0.02 0.43 0.13 0.13 0.03 0.07 0.01 1.22 0.05 0.38

0.30 - 0.01 0.49 - 0.06 0.14 + 0.01 0.15 - 0.02 0.03 unch 0.00 0.07 unch 0.00 0.02 - 0.01 1.24 - 0.06 0.06 - 0.02 0.41 unch 0.00

just $7 million, which would make it the “lowest, capital cost-intensity plant amongst hard-rock lithium peers.” The plant will help the lithium developer generate cash and derisk the project, which has lithium-bearing, pegmatitic mineralization. It will also help process fines from historic run-of-mine stockpiles at the Rubicon and Helikon mines as part of a three-phase plan. The second

phase will involve large-scale mining and concentrate production from in-situ material to produce 250,000 to 300,000 tonnes per year of concentrate. In the third phase, the company will produce 25,000 tonnes per year of lithium carbonate. Desert Lion hopes to build Namibia’s first large-scale lithium mine. The project is located 210 km from Windhoek, the nation’s capital. TNM

TSX-V GREATEST PERCENTAGE CHANGE

Advance Gold Mazarin Trueclaim Expl Altan Nev Mnls Pan Andean Min Guerrero Vents Geologix Expl Till Capital CWN M’g Acq Prospero Silvr Ross River Chilean Metals Ridgestone M’g Canyon Copper Sailfish Rylty Antler Hill Plata Latina Electra Stone Cantex Mn Dev Stroud Res

AAX MAZ.H TRM ANE PAD GV GIX TIL GCCC PSL RRM.H CMX RMI CNC FISH AHM.H PLA ELT CD SDR

599 10 80 465 500 134 759 9 92 1454 327 305 17 857 10 169 149 166 199 205

0.35 0.12 0.28 0.03 0.10 0.02 0.03 3.10 0.18 0.12 0.02 0.05 0.32 0.12 1.94 0.12 0.05 0.02 0.03 0.02

0.10 0.08 0.14 0.02 0.04 0.01 0.03 2.50 0.15 0.07 0.02 0.04 0.23 0.08 1.27 0.08 0.03 0.01 0.02 0.01

0.33 0.12 0.27 0.03 0.10 0.02 0.03 3.00 0.18 0.11 0.02 0.04 0.23 0.08 1.28 0.08 0.03 0.01 0.02 0.01

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 153.8 + 130.0 + 68.8 + 66.7 + 66.7 + 50.0 + 50.0 + 50.0 + 50.0 + 46.7 - 95.0 - 77.8 - 52.1 - 38.5 - 34.4 - 33.3 - 33.3 - 33.3 - 33.3 - 33.3

VOLUME WEEK (000s) CLOSE CHANGE

Till Capital Millennial Lit Fireweed Zinc Neo Lithium Advance Gold Itafos Standard Lith Desert Lion Novo Res Atacama Pacif Sailfish Rylty Aurania Res Maya Gold &Sil Ross River Ascot Res Pac Booker Min Ridgestone M’g Northn Empire Superior Gold Garibaldi Res

TIL ML FWZ NLC AAX IFOS SLL DLI NVO ATM FISH ARU MYA RRM.H AOT BKM RMI NM SGI GGI

9 1061 1419 654 599 83 667 1044 643 3551 10 38 177 327 196 23 17 1539 943 1096

3.00 2.70 2.04 1.78 0.33 2.61 1.67 1.26 5.69 0.74 1.28 2.25 2.30 0.02 1.39 0.84 0.23 1.16 1.27 3.37

+ 1.00 + 0.57 + 0.49 + 0.32 + 0.20 + 0.18 + 0.18 + 0.18 + 0.14 + 0.14 - 0.67 - 0.35 - 0.30 - 0.29 - 0.26 - 0.26 - 0.25 - 0.21 - 0.18 - 0.17

U.S. MARKETS / MAY 14–18 Gold closed at US$1,291.9, down 2% over the previous trading week, as U.S. markets slipped.

The Philadelphia Gold and Silver Index fell 2.14% to 82.06, and the Dow Jones Industrial Average fell 0.46% to 24,715.09. The S&P 500 Index fell 0.54% to 2,712.97.

Lithium Americas shares rose 17.9% to US$6.45. In April, the company updated its resource estimate for its Thacker Pass lithium deposit, which is part of the company’s Lithium Nevada project in McDermitt Caldera, Nevada.

The company increased its measured and indicated resource by 80% compared to the previous 2016 estimate. The project now has 385 million measured and indicated tonnes grading 2,917 ppm lithium for 5.9 million tonnes lithium carbonate equivalent. The company is on track to release a preliminary feasibility study on the project by the end of June.

Shares of Peabody Energy rose 7.5% to US$41.64. The company has rebounded back onto the Fortune 500, coming in at 491, after falling off the list last year. The company reported that first-quarter 2018 coal sales rose 4.8% year-over-year to 37 million tonnes, with most of its sales from the Powder River basin, where Peabody has three mines. Together,

18_MAY28_MarketNews.indd 18

those mines produced 29.4 million tonnes, up from 28.1 million tonnes a year ago.

Peabody and the Hopi Tribe are suing the Central Arizona Water District (CAWD) for its plans to stop buying power from the coalburning Navajo Generating Station, which would in turn force the closure of Peabody’s Kayenta coal mine, located on Hopi land, 128 km away. The CAWD has said it wants to switch to natural gas and renewable energy.

Shares of AngloGold Ashanti fell 8.8% to US$8.23. The company is mired in discussions with Tanzania and the Democratic Republic of the Congo over changes to the countries’ U.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Vale* VALE 120062 15.24 14.30 14.58 - 0.03 Freeport McMoR* FCX 78770 17.17 15.69 16.87 + 0.60 Cleveland-Clif* CLF 55599 9.08 8.16 8.61 + 0.19 Kinross Gold* KGC 42132 3.79 3.50 3.59 - 0.15 United States S* X 40366 38.10 35.44 36.46 + 0.70 Yamana Gold* AUY 37041 2.96 2.77 2.81 - 0.12 Chevron Corp* CVX 28360 131.08 127.80 127.86 - 1.98 Barrick Gold* ABX 27696 13.59 12.97 13.16 - 0.34 Sibanye Gold* SBGL 23438 3.17 2.77 2.80 - 0.17 Mosaic* MOS 22836 28.24 26.72 27.91 + 1.35

mining codes. Tanzania recently passed laws that allow the state to renegotiate old agreements for higher royalties. Congo is in the process of boosting taxes. In March, Anglo proposed new mining code legislation to the Congo, including a sliding scale of royalty

rates to replace what it calls the “windfall tax.”

The company still reported strong firstquarter financials, including production of 824,000 oz. gold at a US$1,029 per oz. all-in sustaining cost, almost on par with the first quarter of 2017. TNM

U.S. GREATEST PERCENTAGE CHANGE

Intrepid Pots* IPI Lithium Amer* LAC Peabody Enrgy* BTU Eldorado Gold* EGO Nutrien* NTR Mosaic* MOS CONSOL Energy* CNX CONSOL Coal Rs* CCR Freeport McMoR* FCX Suncor Energy* SU AngloGold Ash* AU Harmony Gold* HMY Vedanta* VEDL Gold Fields* GFI Alcoa* AA Sibanye Gold* SBGL Seabridge Gld* SA Yamana Gold* AUY Cloud Peak En* CLD Kinross Gold* KGC

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

13059 5.31 1648 6.87 5919 42.66 18505 1.02 8553 52.02 22836 28.24 9820 16.73 115 16.00 78770 17.17 16510 41.74 16742 9.07 13785 1.94 4641 17.24 14045 3.89 21002 54.52 23438 3.17 1290 10.95 37041 2.96 3219 3.32 42132 3.79

4.12 5.36 38.84 0.93 48.99 26.72 15.68 15.00 15.69 40.12 8.11 1.75 16.01 3.51 49.54 2.77 10.30 2.77 3.03 3.50

4.88 6.45 41.64 1.00 51.44 27.91 16.34 15.90 16.87 40.97 8.23 1.78 16.09 3.62 50.83 2.80 10.45 2.81 3.05 3.59

+ 18.4 + 17.9 + 7.5 + 5.3 + 5.3 + 5.1 + 5.0 + 3.9 + 3.7 + 2.9 - 8.8 - 7.3 - 6.8 - 6.2 - 5.8 - 5.7 - 4.6 - 4.1 - 4.1 - 4.0

U.S. GREATEST VALUE CHANGE

MartinMarietta* MLM Peabody Enrgy* BTU Nutrien* NTR Arch Coal* ARCH Mosaic* MOS Suncor Energy* SU Rio Tinto* RIO Lithium Amer* LAC CONSOL Energy* CEIX CONSOL Energy* CNX Alcoa* AA Franco-Nevada* FNV Black Hills* BKH Chevron Corp* CVX Agnico Eagle* AEM Newmont Mng* NEM Vedanta* VEDL AngloGold Ash* AU Seabridge Gld* SA Nexa Resources* NEXA

VOLUME WEEK (000s) CLOSE CHANGE

3012 219.31 5919 41.64 8553 51.44 1218 79.15 22836 27.91 16510 40.97 9632 58.41 1648 6.45 2455 43.87 9820 16.34 21002 50.83 2113 70.67 2553 56.18 28360 127.86 5093 43.09 18090 39.16 4641 16.09 16742 8.23 1290 10.45 1178 16.94

+ 3.86 + 2.89 + 2.57 + 1.71 + 1.35 + 1.14 + 1.02 + 0.98 + 0.96 + 0.78 - 3.13 - 2.71 - 2.03 - 1.98 - 1.64 - 1.23 - 1.17 - 0.79 - 0.50 - 0.44

2018-05-22 6:33 PM

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / MAY 28–JUNE 10, 2018

19

M E TA L S , M I N I N G A N D M O N EY M A R K E T S Tuesday, May 22, 2018 Precious Metals Gold Silver Platinum Palladium Base Metals Nickel Copper Lead Zinc

TSX WARRANTS

PRODUCER AND DEALER PRICES

SPOT PRICES COURTESY OF SCOTIABANK Price (US$/oz.)

Change 12985.85 -34.85 $16.34 -0.31 $880.00 -46.00 $972.00 -23.00

Price (US$/tonne) Change $14810.00 +105.00 $6960.50 +100.00 $2467.00 +65.00 $3042.00 -48.00

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 18, 2018 (change from May 11, 2018 in brackets): Aluminium Alloy 12220 (+120) Aluminium 1243850 (-20400) Copper 301475 (+20400) Lead 133725 (+1700) Nickel 305748 (-5856) Tin 2430 (+50) Zinc 231450 (-2700)

Thermal Coal CAPP: US$40.00 per short ton Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$60.40 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$12.45 Cobalt: US$41.28/lb.

Copper: US$3.11/lb.

Copper: CME Group Futures June 2018: US$3.11/lb.; July 2018: US$3.12/lb Ferro-Chrome: US$2.80/kg Ferro Titanium: US$4.90/kg FerroTungsten: US$31.40/kg Ferrovanadium: US$35.20/kg Iridium: NY Dealer Mid-mkt US$1350.00/tr oz.

Iron Ore 62% Fe CFR China-S:n.a.

Iron Ore Fines: US$71.00/tonne Iron Ore Pellets: US$108.60/tonne Lead: US$1.07/lb.

Magnesium: US$2.25/kg Manganese: US$2.04/kg Molybdenum Oxide: US$11.79/lb.

Phosphate Rock: US$86.00/tonne Potash: US$226.00/tonne Rhodium: Mid-mkt US$2,240.00 tr. oz.

Ruthenium: Mid-mkt US$250.00/tr. oz.

Silver: Handy & Harman Base: US$16.49 per oz.; Handy & Harman Fabricated: US$20.61 per oz.

Tantalite Ore : US$158.90/kg Tin: US$9.37/lb.

Uranium: U3O8, Trade Tech spot price: US$21.40; The UX Consulting Company spot price: n.a.

Zinc: US$1.41/lb.

Prices current May 22, 2018

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

Index May 18 May 17 May 16 May 15 May 14 High Low S&P/TSX Composite 16162.31 16143.55 16108.06 16097.81 16085.61 15527.30 12400.15 S&P/TSXV Composite 786.39 781.35 781.50 781.03 790.31 1050.26 883.52 S&P/TSX 60 957.85 957.94 956.42 955.55 954.67 896.74 709.99 S&P/TSX Global Gold 187.02 185.95 186.56 187.71 190.83 218.90 149.29 DJ Precious Metals 164.09 164.09 164.45 164.47 168.15 420.72 130.95

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of May 01, 2018 (with changes from Apr 16, 2018) Largest short positions Eldorado Gold ELD 21021554 441157 4/16/2018 Ivanhoe Mines IVN 16765338 244873 4/16/2018 Sandstorm Gold SSL 15127032 -415452 4/16/2018 Suncor Energy SU 13285210 2907283 4/16/2018 Goldcorp G 13123489 6857291 4/16/2018 Turquoise HIl TRQ 9531758 43885 4/16/2018 First Majestic FR 8704059 -198307 4/16/2018 Barrick Gold ABX 8577975 3060104 4/16/2018 First Quantum FM 8386535 1815934 4/16/2018 McEwen Mng MUX 8146659 23251 4/16/2018 Nevsun Res NSU 7530432 66226 4/16/2018 OceanaGold OGC 7195112 116633 4/16/2018 New Gold NGD 7122041 901865 4/16/2018 Kinross Gold K 6877670 1999732 4/16/2018 Alacer Gold ASR 6524001 61339 4/16/2018 Largest increase in short position Goldcorp G 13123489 6857291 4/16/2018 Barrick Gold ABX 8577975 3060104 4/16/2018 Suncor Energy SU 13285210 2907283 4/16/2018 Teck Res TECK.B 4875384 2016442 4/16/2018 Kinross Gold K 6877670 1999732 4/16/2018 Largest decrease in short position Kerr Mines KER 50058 -1143366 4/16/2018 HudBay Mnls HBM 4194563 -990988 4/16/2018 Red Eagle Mng R 1000 -722200 4/16/2018 Centerra Gold CG 1262594 -584225 4/16/2018 Mountain Prov MPVD 1028208 -506149 4/16/2018

Short positions outstanding as of May 01, 2018 (with changes from Apr 16, 2018) Largest short positions Leeta Gold HIVE 3973400 -8583608 4/16/2018 First Cobalt FCC 2965597 1130997 4/16/2018 Atlantic Gold AGB 1485703 -104284 4/16/2018 ML Gold Corp MLG 1073379 430379 4/16/2018 Core Gold CGLD 858614 309211 4/16/2018 Latin Am Mnls LAT 649000 251000 4/16/2018 Gratomic GRAT 626100 563600 4/16/2018 Kitrinor Mtls SCYB 533020 404692 4/16/2018 Cobalt 27 Cap KBLT 503095 -19650 4/16/2018 Mason Graphite LLG 500003 132850 4/16/2018 SilverCrest Mt SIL 471700 -1868853 4/16/2018 Sage Gold SGX 375000 363000 4/16/2018 Aben Res ABN 350500 240200 4/16/2018 Hut 8 Mining HUT 346483 -3317 4/16/2018 Cypress Dev CYP 273061 221061 4/16/2018 Largest increase in short position First Cobalt FCC 2965597 1130997 4/16/2018 Gratomic GRAT 626100 563600 4/16/2018 ML Gold Corp MLG 1073379 430379 4/16/2018 Kitrinor Mtls SCYB 533020 404692 4/16/2018 Sage Gold SGX 375000 363000 4/16/2018 Largest decrease in short position Leeta Gold HIVE 3973400 -8583608 4/16/2018 SilverCrest Mt SIL 471700 -1868853 4/16/2018 Revelo Res RVL 3000 -1231000 4/16/2018 InZinc Mining IZN 19000 -1010000 4/16/2018 Saville Res SRE 8100 -670600 4/16/2018

Alamos Gold (AGI.WT) - Wt buys sh @ $28.47 to Aug 30/18 Alamos Gold (AGI.WT.A) - Wt buys sh @ $10.00 to Jan 7/19 Alio Gold Inc. (ALO.WT) - 10 Warrants to purchase one common share of the Issuer at $7.00 until expiry Alio Gold Inc. J (ALO.WT.A) - One Warrant to purchase one common share of the Issuer at $8.00 until expiry Ascendant Resources (ASND.WT) - Wt buys sh @ $1.25 to Mar 7/22 eColbalt Solutions Inc. J (ECS.WT) - One Warrant to purchase one common share of the Issuer at US$1.95 per share until expiry Excellon Resources Inc (EXN.WT.A) - One warrant to purchase one common share of the Issuer at $2.80 until expiry Excellon Resources Inc (EXN.WT) - Wt buys sh @ $1.75 to Jul 26/18 GoGold Resources Inc. (GGD.WT) - Wt buys sh @ $1.7 to Jun 7/18 Golden Queen Mining Co (GQM.WT) Wt buys sh @ $2 to Jul 25/19 Gran Colombia Gold (GCM.WT.A) - Wt buys sh @ $3.25 to Mar 18/19

HudBay Minerals (HBM.WT) - Wt buys sh @ $15 to Jul 20/18 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 MBAC Fertilizer (MBC.WT) - Wt buys sh @ $1 to Apr 17/19 Nemaska Lithium Inc (NMX.WT) - Wt buys sh @ $1.5 to Jul 8/19 Northern Dynasty Minerals Ltd. J (NDM. WT.A) - Wt buys sh @ $0.55 to Jul 9/20 Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21 Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21 Oban Mining J (OBM.WT) - Wt buys 20 sh @ $3 to Aug 25/18 Osisko Gold Royalties (OR.WT) - Wt buys sh @ $36.5 to Feb 18/22

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

American Cumo Mining Corp. (MLY.RT) 2 rights and $0.07 are required to purchase one share Antioquia Gold Inc. (AGD.RT) - One (1) Right and $0.042 are required to purchase one share.

Atlantic Gold (AGB.WT) - Wt buys sh @ $0.6 to Aug 20/18 Avino Silver & Gold Mines Ltd. (ASM. WT) - Wt buys sh @ US$0.2 to Nov 28/19 Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.30 per share.

Brazil Resources (BRI.WT) - Wt buys sh @ $0.75 to Dec 31/18 Cordoba Minerals Corp (CDB.WT) - One warrant to purchase one common share at $1.08 per share.

Cornerstone Capital Resources (CGP. WT.S) - Wt buys sh @ $0.35 to Apr 07/19

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

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

Goldmining Inc. (GOLD.WT) - Wt buys sh @ $0.75 to Dec 31/18 Goldstar Minerals (GDM.RT) - One Right to purchase one common share at $0.03 per share.

Goldstar Minerals Inc. (GDM.RT) - One (1) Right and $0.05 are required to purchase one common share.

JDL Gold Corp. (JDL.WT) - Wt buy sh @ $3.00 to Oct 06/21 Jet Metal (JET.WT) - Wt buys sh @ $0.25 to Sep 16/19 Jet Metal (JET.WT.A) - Wt buys sh @ $0.5 to Feb 28/19 Kootenay Silver Inc. (KTN.WT) - Wt buys sh @ $0.55 to Apr 21/21 Maple Gold Mines Ltd. (MGM.WT) One warrant to purchase one common share at $0.40 per share

Osisko Gold Royalties (OR.WT.A) - Wt buys sh @ $19.08 to Feb 26/19 Osisko Mining Inc. J (OSK.WT) - 20 Wt buys sh @ $3 to Aug 25/18 Pilot Gold Inc. Wt (PLG.WT) - Wt buys sh @ $0.9 to May 16/19 Prairie Provident Resources Inc Wt (PPR. WT) - Wt buys sh @ $0.87 to Mar 16/19 Primero Mining Corp (P.WT.C) - Wt buys sh @ $3.35 to Jun 24/18 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 20180062 table ) determined based on the Applicable Reference Cobalt Price at an exercise price of $1.95 per Warrant at any time prior to the Expiry Date Sprott Resource Corp (SRHI.WT) - Wt buys sh @ $0.3333 to Feb 09/22 Timmins Gold Corp (TMM.WT) - Wt buy sh at $0.7 to May 30/18

TSX VENTURE WARRANTS Millennial Lithium Corp. (ML.WT) - One warrant to purchase one common share at $4.25 per share.

Rainy Mountain Royalty Corp. (RMO. WT) - Wt buys sh @ $0.15 to Mar 1/18 and sh @ $0.25 from Mar 2/18 to Mar 1/19 Rainy Mountain Royalty Corp. (RMD. WT) - Wt buys sh @ $0.15 to Mar 1/18 and sh @ $0.25 from Mar 2/18 to Mar 1/19 Silvercrest Metals Inc. (SIL.WT) - Wt buys sh @ $3 to Dec 06/18 Tintina Resources Inc. (TAU.RT) - Nine(9) Rights exercisable for one share at $0.06 per share.

Trek Mining (TREK.WT) - Wt buy sh @ $3.00 to Oct 06/21 Vision Lithium Inc. (VLI.WT) - One warrant to purchase one common share at $0.15 per share.

West Kirkland Mining (WKM.WT) - Wt buys sh @ $0.3 to Apr 17/19

NEW 52-WEEK HIGHS AND LOWS MAY 14–18, 2018 69 New Highs Advance Gold Alacer Gold Antofagasta* Arrowstar Res Ashanti Sanko Atacama Pacif Avrupa Mnls* Axmin Inc* Azarga Uranium Bayswater Uran* Black Dragon Black Dragon* Cameco Corp* Colonial Coal Comet Inds Commander Res CONSOL Energy* Constantine Mt

Currie Rose Rs* Desert Mtn Egy Desert Mtn Egy* Diamante Min* Encanto Potash Energy Fuels Energy Fuels* Fireweed Zinc Fireweed Zinc* First Quantum Geomega Res Geomega Res* Gold Resource* Golden Global* Intact Gold Intercontinent* Intrepid Pots* Medgold Res Mega Copper

Midas Gold New Dimen Res New Dimen Res* New Point Expl Newport Expl Noka Res* North Am Pall North Am Pall* Nrthn Mnrls &E* Original Sixtn* Pac Potash* Pacton Gold Pan Andean Min Pan Andean Min* Peabody Enrgy* Pivit Explor Rio Tinto* Strongbow Expl Strongbow Expl*

Suncor Energy Suncor Energy* Teranga Gold Vale* ValGold Res* Vantex Res Vatic Vent* Walker Lane* Westhaven Vent Westhaven Vent* Whitehaven Coa* Winston Gold Winston Gold* 42 New Lows 60 North Gold Allegiant Gold Amarillo Gold AngloGold Ash* Auryn Res

Beaufield Res* Black Dragon* Cache Expl Cache Expl* Constantine Mt* Cruz Cobalt Cruz Cobalt* Danakali* Desert Lion Enforcer Gold Focus Graphite* Generation Min Global Li-Ion Goldcliff Res Goldcliff Res* IDM Mining* Kootenay Silvr Liberty One Li* M.P.V. Explor

Magna Terra Moneta Porcpn* Nighthawk Gold* Nrthn Vertex* Nthn Dynasty* Oroco Res* Pelangio Expl* Platinum Gp Mt* Probe Metals Ridgestone M’g Rimrock Gold* Secova Mtls Sibanye Gold* Tinka Res Tinka Res* U.S. Lithium* Volt Energy* VR Resources*

CANADIAN GOLD MUTUAL FUNDS

DAILY METAL PRICES Daily Metal Prices Date May 21 May 18 May 17 May 16 May 15 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) 1885/1890 1830/1835 1890/1900 1875/1895 1920/1930 Al Alloy Aluminum 2278/2279.50 2296.50/2293 2319/2312 2312/2310 2285/2295 Copper 6783/6816 6773/6807 6822/6863 6826/6860 6868.50/6906 Lead 2330/2350 2320/2333 2345.50/2358.50 2379/2391 2331/2340 Nickel 14610/14650 14740/14800 14400/14450 14480/14550 14310/14350 Tin 20600/20525 20650/20575 20890/20775 21000/20900 21000/20925 Zinc 3097.50/3101 3080/3083.50 3053/3061 3060/3079 3020/3044 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.)

Gold AM 1285.50 1287.20 1288.85 1291.75 1310.05 Gold PM 1288.35 1288.30 1289.50 1291.25 1295.00 Silver 16.34 16.39 16.39 16.26 16.41 Platinum 885.00 884.00 890.00 894.00 901.00 Palladium 978.00 981.00 991.00 987.00 970.00

Fund May 18 ($) May 11 ($) Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$) AGF Prec Mtls Fd MF 19.66 20.13 -0.47 -2.33 -5.84 2.81 110.37 BMO Prec Mtls Fd A 17.98 18.38 -0.39 -2.13 -1.32 2.40 59.92 8.91 9.11 -0.20 -2.23 -5.19 0.61 BMO ZGD BMO ZJG 9.02 9.27 -0.25 -2.70 0.40 0.60 CIBC Prec Metal Fd A 9.39 9.61 -0.22 -2.26 -7.85 2.45 43.19 Dyn Prec Metls Fd A 6.60 6.68 -0.08 -1.20 -7.28 2.66 330.86 Galileo GOGO 10.52 10.74 -0.22 -2.04 Horizons HEP 23.55 24.02 -0.47 -1.95 -3.84 0.81 IG Mac GbPMetCl A 8.41 8.59 -0.18 -2.05 -7.34 2.75 34.47 iShares XGD 11.70 11.97 -0.28 -2.30 -3.58 0.55 744.23 Mac Prec Met Cl A 44.77 45.73 -0.96 -2.09 -7.63 2.52 75.70 NBI PrecMetFd Invt 11.53 11.77 -0.24 -2.04 -8.29 2.46 26.82 34.04 34.89 -0.85 -2.44 -6.55 3.04 139.27 NPT Gold&PrMinFdA NPT SilverEquCl A 5.37 5.45 -0.08 -1.54 -4.16 2.95 119.61 RBC GblPreMetFd A 31.04 31.57 -0.53 -1.67 -8.11 2.13 317.92 Redw UITGoDe&ProCl A 0.00 0.00 Sentry Pre Met Fd A 37.48 38.30 -0.83 -2.15 -3.39 2.49 148.98 31.86 32.60 -0.74 -2.27 -5.68 2.27 110.85 TD PreciousMetalsInv

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

May 18 May 17 May 16 May 15 May 14 1.2826 1.2826 1.2782 1.2875 1.2803 0.7797 0.7797 0.7824 0.7767 0.7811

Exchange rates (Quote Media, May 18, 2018) C$ to AUS C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand 1.0377 0.6609 86.3830 15.3966 9.8225 C$ to UK Pound C$ to China Yuan C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won 0.5768 4.9603 52.7850 0.7808 843.7911 US to AUS US to EURO US to YEN US to Mex Peso US to SA Rand 1.3310 0.8476 110.7980 19.7532 12.5989 US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won 0.7398 6.3680 68.1500 1.0014 1081.9200

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

LEGEND 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.$

19_MAY28_MMMM.indd 19

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

CONVERSIONS OF WEIGHTS & MEASURES 1 troy ounce = 31.1 grams 1 kilogram = 32.15 troy ounces 1 kilogram = 2.2046 pounds 1 (metric) tonne = 1,000 kilograms 1 (metric) tonne = 2,204.6 pounds 1 (short) ton = 2,000 pounds 1 (metric) tonne = 1.1023 (short) tons

1 gram per (metric) tonne = 0.02917 troy ounces per (short) ton

= 0.03215 troy ounces per (metric) tonne 1 kilometre = 0.6214 miles 1 hectare = 2.47 acres

GLOBAL MINING NEWS · SINCE 1915

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2018-05-22 5:06 PM

20

WWW.NORTHERNMINER.COM

MAY 28–JUNE 10, 2018 / THE NORTHERN MINER

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: MAY 14–18, 2018 (100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

A 37 Capital 0 60 North Gold 452 92 Resources* O 52 92 Resources V 1442 Abacus Mng &Ex V 197 Abacus Mng &Ex* O 302 V 187 Abcourt Mines Abcourt Mines* O 10 Aben Res* O 128 Aben Res V 1972 O 60 Aberdeen Intl* Aberdeen Intl T 123 Abitibi Royalt* O 1 13 Abitibi Royalt V AbraPlata Res* O 359 AbraPlata Res V 483 Abzu Gold* O 40 V 1102 Adamera Mnls Adamera Mnls* O 429 Adex Mining V 521 V 599 Advance Gold Advanced Expl* O 82 V 1320 Advantage Lith Advantage Lith* O 587 Adventus Zinc V 67 V 13 Aethon Mineral Affinity Gold* O 231 Affinity Metal* O 0 African Gold V 184 O 18 African Mnrls* V 5 Aftermath Slvr Aftermath Slvr* O 0 Agnico Eagle T 2558 Agnico Eagle* N 5093 AgriMinco* O 1 Aguia Resource V 96 17 Aguila Amer Gd V 1 Aguila Amer Gd* O Aida Minerals 304 Alacer Gold T 2212 Alamos Gold T 4842 Alamos Gold* N 9349 Alaska Pac Egy* O 5000 Alba Minerals* O 28 Albert Mining V 2 O 3 Albert Mining* Alchemist Mng 336 Alcoa* N 21002 Alderon Iron T 115 Alderon Iron* O 2 Aldershot Res* O 0 Aldershot Res V 100 Aldever Res* O 0 Aldever Res V 20 Aldridge Min* O 65 Aldridge Min V 1407 Alexandra Cap 10 Alexandra Cap* O 2 Alexandria Min* O 150 Alexandria Min V 1400 Alexco Res T 258 Alexco Res* X 867 Algold Res* O 100 Algold Res V 198 Alianza Min V 2 Alianza Min* O 25 V 20 Allante Potash Allegiant Gold V 127 Allegiant Gold* O 145 Alliance Mng V 395 Alliance Res* D 1484 Almaden Mnls T 289 Almaden Mnls* X 937 Almadex Min V 424 Almadex Min* O 1060 Almonty Ind V 1181 Alopex Gold V 0 Alphamin Res * O 1 Alphamin Res V 85 Alset Minerals V 206 Altai Res V 267 Altair Res Inc* O 20 Altair Res Inc V 1416 Altamira Gold V 1055 O 329 Altamira Gold* Altan Nev Mnls V 465 Altiplano Mnls V 75 Altitude Res V 30 Altius Mnrls T 284 Alto Vent V 20 Altura Mng Ltd* O 2431 Alturas Mnrls V 495 Alumina Inc* O 28 ALX Uranium V 297 ALX Uranium* O 48 Am Creek Res V 460 Am CuMo Mng V 567 Am CuMo Mng* O 217 Am Manganese* O 588 Am Manganese V 1116 Am Sierra Gold* O 0 Amador Gold* O 2 Amani Gold* O 40 Amarc Res V 184 Amarc Res* O 38 Amarillo Gold V 62 Amazing Energy* O 121 Amer Intl Vent* O 351 American Lith V 307 O 78 American Lith* American Pac* O 80 American Pac 89 Americas Silvr T 132 X 388 Americas Silvr* Amerigo Res T 397 Amerigo Res* O 101 Amex Expl V 1470 T 818 Anaconda Mng Anaconda Mng* O 510 Anconia Res V 55 Andes Gold* O 35 Anfield Energy* O 562 Anfield Energy V 829 Angel Gold* O 136 Angel Gold V 483 Angkor Gold V 37 Anglo American* O 48 Anglo American* O 595 Anglo Pac Grp T 5 Anglo-Bomarc V 64 AngloGold Ash* O 1 AngloGold Ash* N 16742 Angus Ventures V 6 V 282 Antioquia Gold Antler Gold * O 50 Antler Gold V 268 Antler Hill V 169 Antofagasta* O 111 APAC Res Inc 100 Apex Res V 83 Apogee Opport V 12 Apogee Opport * O 0 Appia Energy 65 Appia Energy* O 29 Applied Mrnls* O 68 Aquila Res* O 161 Aquila Res T 208 Arch Coal* N 1218 Archon Mineral V 1 Arco Res* O 78 Arctic Star* O 1 Arctic Star V 433 Arcturus Vent* O 0 Arcturus Vent V 15 69 Arcus Dev Grp V Arena Mnls V 174 Arena Mnls* O 22 Argentina Lith* O 68 Argentina Lith V 135 Argentum Silvr V 10 Argex Titanium T 583 Argex Titanium* O 32 Argo Gold* O 20 Argo Gold 94 Argonaut Gold* O 59

20-23_MAY28_StockTables.indd 20

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0.01 0.19 0.04 0.00 0.00 0.08 unch 0.00 0.14 0.00 57.71 55.31 55.46 - 1.68 68.13 48.04 45.17 42.84 43.09 - 1.64 51.86 37.35 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.25 0.20 0.21 - 0.05 0.50 0.20 0.20 0.20 0.20 unch 0.00 0.30 0.17 0.19 0.19 0.19 unch 0.00 0.19 0.16 0.22 0.16 0.18 - 0.03 1.50 0.01 2.54 2.37 2.50 + 0.06 2.53 1.96 6.80 6.38 6.59 - 0.17 10.50 6.19 5.33 4.99 5.11 - 0.19 8.58 4.83 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.09 0.09 0.09 unch 0.00 0.33 0.03 0.05 0.00 0.05 unch 0.00 0.10 0.04 0.03 0.03 0.03 - 0.00 0.08 0.03 0.10 0.08 0.09 + 0.01 0.35 0.05 54.52 49.54 50.83 - 3.13 62.35 29.55 0.35 0.31 0.32 - 0.01 0.39 0.21 0.25 0.25 0.25 + 0.01 0.29 0.16 0.00 0.00 0.05 unch 0.00 0.05 0.02 0.05 0.05 0.05 unch 0.00 0.09 0.03 0.00 0.00 0.04 unch 0.00 0.18 0.04 0.07 0.00 0.07 unch 0.00 0.24 0.06 0.04 0.04 0.04 unch 0.00 0.17 0.03 0.08 0.05 0.06 - 0.02 0.23 0.05 0.60 0.00 0.60 + 0.04 0.93 0.07 0.50 0.43 0.47 + 0.02 0.77 0.01 0.07 0.05 0.06 + 0.00 0.09 0.04 0.08 0.07 0.08 unch 0.00 0.12 0.05 1.94 1.72 1.81 - 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0.00 0.14 0.04 0.16 0.14 0.16 + 0.00 0.48 0.07 0.20 0.18 0.18 - 0.02 0.60 0.08 0.16 0.16 0.16 unch 0.00 0.35 0.16 0.05 0.04 0.04 - 0.01 0.09 0.04 0.04 0.03 0.03 - 0.01 0.06 0.03 0.10 0.09 0.09 - 0.00 0.16 0.09 0.13 0.00 0.11 - 0.02 0.26 0.11 2.03 1.87 1.87 - 0.17 2.40 1.31

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Argonaut Gold T 1595 Argus Metals* O 0 Argus Metals V 127 Arian Silver* O 38 O 46 Arianne Phosph* V 189 Arianne Phosph Arizona Mng* O 60 Arizona Mng T 1652 Arizona Silver V 294 O 29 Arizona Silver* Armor Mnrls V 26 V 133 Arrowstar Res Asanko Gold T 3022 Asanko Gold* X 3230 Asante Gold 207 Asante Gold* O 3 Asbestos Corp V 3 Ascot Res V 196 O 19 Ascot Res * V 540 Ashanti Sanko O 2 Ashburton Vent* V 142 Ashburton Vent V 147 AsiaBaseMetals 127 Asian Minl Res V Aston Bay* O 151 Aston Bay V 1210 Astorius Res V 289 ATAC Res V 671 V 3551 Atacama Pacif O 11 Atacama Pacif* O 116179 Atacama Res* O 159 Athabasca Mnls* V 160 Athabasca Mnls Athena Silver* O 53 Atico Mng* O 166 Atico Mng V 183 Atlanta Gold* O 80 Atlanta Gold V 31 Atlantic Gold V 835 Atlantic Ind V 118 Atlatsa Res* O 892 Atlatsa Res T 124 0 Atom Energy * O Atom Energy V 2 522 Aton Res Inc V 50 Aton Res Inc* O Aura Mnls* O 41 Aura Mnls T 16 145 Aura Silver Rs V Auramex Res V 155 Aurania Res* O 78 Aurania Res V 38 Aurcana Corp V 910 O 121 Aurcana Corp* V 170 AurCrest Gold 8 Aurion Res * O Aurion Res V 116 Aurora Royal V 675 Auryn Res* X 306 Auryn Res T 411 Austin Res V 205 Austral Gold* O 6 Austral Gold V 886 O 1214 Australian Mns* Auxico Res 325 592 Avalon Adv Mat T Avalon Adv Mat* O 157 Avarone Metals 1288 Avesoro Res T 4 Avesoro Res* O 1 Avidian Gold V 159 Avino Silver* X 626 Avino Silver T 118 Avrupa Mnls* O 448 Avrupa Mnls V 755 Awale Res V 20 AXE Expl V 561 Axiom Mng* O 250 Axmin Inc* O 25 Axmin Inc V 1114 V 9 Azarga Metals O 1 Azarga Metals* O 13 Azarga Uranium* T 166 Azarga Uranium Aziel Corp* O 3 Azimut Expl V 132 O 77 Azincourt Ener* V 2091 Azincourt Ener V 168 Aztec Minerals O 47 Aztec Minerals* Azteca Gold* O 215

2.61 2.39 2.42 - 0.19 2.92 1.76 0.00 0.00 0.15 unch 0.00 0.55 0.06 0.19 0.00 0.19 + 0.03 0.75 0.08 0.01 0.00 0.00 - 0.00 0.02 0.00 0.46 0.40 0.40 - 0.06 0.73 0.39 0.58 0.52 0.52 - 0.04 0.95 0.44 3.43 3.22 3.22 - 0.08 5.90 1.47 4.36 4.14 4.15 - 0.09 4.87 1.96 0.18 0.16 0.17 unch 0.00 1.23 0.11 0.14 0.12 0.14 + 0.00 0.91 0.08 0.43 0.00 0.41 unch 0.00 0.55 0.32 0.10 0.07 0.10 + 0.03 0.09 0.03 1.68 1.46 1.66 + 0.04 3.09 0.55 1.31 1.12 1.27 unch 0.00 2.28 0.43 0.06 0.05 0.05 unch 0.00 0.15 0.05 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.75 0.75 0.75 unch 0.00 0.90 0.20 1.59 1.32 1.39 - 0.26 2.10 1.08 1.23 1.08 1.08 - 0.13 1.56 0.87 0.07 0.04 0.06 + 0.02 0.07 0.02 0.07 0.07 0.07 + 0.02 0.15 0.05 0.08 0.00 0.08 unch 0.00 0.24 0.06 0.33 0.29 0.33 + 0.03 0.40 0.19 0.02 0.01 0.01 - 0.01 0.05 0.01 0.18 0.15 0.16 + 0.02 0.20 0.09 0.24 0.19 0.22 + 0.01 0.29 0.10 0.06 0.05 0.06 - 0.01 0.20 0.05 0.57 0.56 0.56 - 0.01 0.89 0.46 0.86 0.65 0.74 + 0.14 0.86 0.41 0.60 0.56 0.56 - 0.04 0.66 0.31 0.00 0.00 0.00 unch 0.00 0.40 0.00 0.12 0.12 0.12 - 0.01 0.20 0.09 0.18 0.14 0.18 + 0.03 0.27 0.12 0.05 0.04 0.04 - 0.01 0.33 0.02 0.49 0.44 0.44 - 0.01 0.71 0.40 0.62 0.57 0.57 - 0.01 0.91 0.51 0.03 0.00 0.03 - 0.00 0.06 0.03 0.05 0.00 0.05 unch 0.00 0.08 0.04 1.93 1.87 1.88 unch 0.00 1.99 1.30 0.02 0.01 0.02 unch 0.00 0.09 0.01 0.03 0.03 0.03 + 0.00 0.05 0.01 0.05 0.04 0.04 unch 0.00 0.07 0.02 0.00 0.00 0.15 unch 0.00 0.26 0.04 0.00 0.00 0.32 unch 0.00 0.40 0.05 0.05 0.04 0.04 - 0.01 0.05 0.03 0.04 0.04 0.04 unch 0.00 0.04 0.02 1.88 1.66 1.76 - 0.04 2.38 1.03 2.36 2.13 2.29 + 0.06 3.00 1.30 0.03 0.03 0.03 unch 0.00 0.09 0.02 0.08 0.07 0.07 unch 0.00 0.10 0.03 2.00 1.74 1.75 - 0.23 6.06 1.03 2.44 2.25 2.25 - 0.35 7.57 1.51 0.24 0.19 0.22 - 0.03 0.42 0.17 0.19 0.15 0.16 - 0.03 0.30 0.13 0.04 0.04 0.04 unch 0.00 0.04 0.02 0.59 0.58 0.58 - 0.01 2.82 0.52 0.76 0.74 0.75 - 0.04 3.49 0.67 0.10 0.00 0.08 - 0.03 0.24 0.03 1.35 1.25 1.28 - 0.06 3.00 1.24 1.73 1.59 1.66 - 0.03 3.60 1.59 0.02 0.02 0.02 + 0.01 0.04 0.01 0.07 0.00 0.06 - 0.01 0.16 0.05 0.11 0.08 0.10 - 0.01 0.18 0.08 0.07 0.06 0.07 - 0.00 0.13 0.06 0.27 0.23 0.26 + 0.01 0.45 0.20 0.12 0.11 0.11 - 0.01 0.16 0.11 0.09 0.08 0.09 - 0.01 0.13 0.08 0.09 0.07 0.08 - 0.01 0.14 0.02 4.82 4.53 4.58 - 0.33 5.32 2.50 3.65 3.50 3.50 - 0.15 3.65 1.89 0.64 0.60 0.60 - 0.02 0.70 0.20 1.44 1.34 1.40 - 0.04 1.89 1.14 1.84 1.74 1.78 - 0.03 2.35 1.44 0.10 0.07 0.09 + 0.02 0.10 0.05 0.13 0.09 0.12 + 0.03 0.13 0.06 0.18 0.15 0.18 + 0.01 0.48 0.14 0.05 0.04 0.05 unch 0.00 0.17 0.02 0.00 0.00 0.12 unch 0.00 0.19 0.12 0.12 0.10 0.10 - 0.02 0.12 0.02 0.15 0.12 0.12 - 0.03 0.15 0.03 0.13 0.00 0.11 - 0.01 0.21 0.11 0.08 0.00 0.08 - 0.01 0.16 0.06 0.21 0.21 0.21 - 0.00 0.24 0.14 0.34 0.26 0.26 - 0.02 0.34 0.18 1.02 0.00 1.02 unch 0.00 9.10 0.60 0.36 0.31 0.32 - 0.03 0.48 0.26 0.07 0.06 0.07 - 0.00 0.23 0.03 0.10 0.08 0.09 - 0.01 0.37 0.05 0.22 0.19 0.20 - 0.02 0.65 0.19 0.17 0.14 0.15 - 0.00 0.30 0.14 0.00 0.00 0.00 - 0.00 0.00 0.00

B2Gold* X 15777 T 10522 B2Gold B4MC Gold* O 1 O 321 Balmoral Res* Balmoral Res T 915 Balto Res V 101 Bandera Gold V 23 5 Bandera Gold * O V 1235 Bankers Cobalt O 72 Bankers Cobalt* O 132 Bannerman Res* Banyan Gold V 9 Bard Ventures V 59 Barker Mnrls V 215 Barkerville Go V 716 Barkerville Go* O 183 V 499 Baroyeca Go&Si Barrick Gold* N 27696 Barrick Gold T 9145 Barsele Min* O 5 Barsele Min V 162 Batero Gold V 342 O 177 Bayhorse Silvr* V 425 Bayhorse Silvr O 73 Bayswater Uran* O 0 BC Moly * BC Moly V 0 BCM Res V 77 V 17 BE Res 295 Bear Creek Mng V Bearclaw Cap V 75 Bearing Lith V 244 Bearing Lith* O 44 Beaufield Res V 622 O 120 Beaufield Res* Beeston Ent* O 450 Bell Copper* O 15 Belmont Res V 623 Belo Sun Mng T 1313 V 20 Belvedere Res O 0 Belvedere Res* BeMetals V 294 Benton Res V 33 Benz Mining V 204 Benz Mining* O 50 Berkeley Egy* O 5 Berkwood Res * O 70 V 598 Berkwood Res Big Wind Cap 1025 Bitterroot Res V 275 O 41 Bitterroot Res* Black Dragon V 254 O 20 Black Dragon* Black Hills* N 2553 Black Iron T 962 Black Iron* O 306 Black Isle Res V 82 7 Black Mam Mtls V 4 Black Sea Cop V 51 Black Sea Cop* O 168 Black Tusk Res V 39 Blackheath Res V 679 Blackrock Gold O 84 Blackrock Gold* 47 Blind Crk Res V BLOX Inc* O 114 Blue Moon Zinc V 729 Blue Moon Zinc* O 490 Blue Rvr Res V 1129 36 Blue Sky Uran* O 148 Blue Sky Uran V V 225 Bluenose Gold O 5 Bluestone Res*

2.90 2.65 2.69 - 0.20 3.30 2.31 3.69 3.42 3.45 - 0.22 4.06 3.01 7.40 7.40 7.40 unch 0.00 9.00 6.25 0.19 0.16 0.17 - 0.01 0.57 0.15 0.24 0.21 0.21 - 0.02 0.74 0.21 0.12 0.12 0.12 unch 0.00 0.38 0.02 0.04 0.04 0.04 unch 0.00 0.10 0.03 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.17 0.15 0.16 + 0.01 0.85 0.11 0.13 0.12 0.12 - 0.00 0.68 0.03 0.04 0.03 0.04 + 0.01 0.06 0.02 0.07 0.00 0.07 unch 0.00 0.15 0.06 0.04 0.04 0.04 unch 0.00 0.08 0.02 0.02 0.01 0.01 - 0.01 0.03 0.01 0.65 0.59 0.60 - 0.05 1.23 0.55 0.50 0.46 0.48 - 0.03 0.91 0.43 0.02 0.02 0.02 unch 0.00 0.04 0.01 13.59 12.97 13.16 - 0.34 18.35 11.07 17.35 16.75 16.95 - 0.28 23.23 14.26 0.62 0.59 0.59 - 0.03 0.72 0.42 0.80 0.00 0.75 - 0.05 1.03 0.53 0.08 0.07 0.07 - 0.01 0.12 0.07 0.15 0.12 0.13 - 0.02 0.22 0.10 0.18 0.15 0.15 - 0.03 0.27 0.14 0.05 0.03 0.03 + 0.01 0.05 0.01 0.00 0.00 0.06 unch 0.00 0.06 0.04 0.00 0.00 0.08 unch 0.00 0.16 0.04 0.18 0.15 0.18 + 0.01 0.25 0.08 0.06 0.05 0.06 unch 0.00 0.08 0.04 2.07 1.94 2.02 - 0.04 2.74 1.64 0.05 0.05 0.05 unch 0.00 0.06 0.03 0.41 0.38 0.39 + 0.01 1.06 0.37 0.32 0.29 0.31 + 0.01 0.81 0.28 0.10 0.09 0.09 - 0.01 0.28 0.09 0.07 0.06 0.06 - 0.01 0.21 0.07 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.06 0.00 0.05 - 0.00 0.16 0.04 0.04 0.04 0.04 unch 0.00 0.08 0.02 0.28 0.26 0.26 - 0.01 0.71 0.25 0.72 0.00 0.72 unch 0.00 0.96 0.15 0.00 0.00 0.19 unch 0.00 0.19 0.04 0.20 0.17 0.18 - 0.02 0.32 0.15 0.06 0.06 0.06 unch 0.00 0.10 0.05 0.15 0.11 0.14 + 0.04 0.47 0.09 0.09 0.09 0.09 unch 0.00 0.12 0.09 0.64 0.58 0.58 - 0.02 0.88 0.54 0.10 0.10 0.10 + 0.00 0.44 0.09 0.14 0.12 0.13 - 0.02 0.55 0.12 0.40 0.30 0.35 - 0.06 1.05 0.11 0.06 0.05 0.05 - 0.01 0.28 0.04 0.05 0.04 0.04 - 0.00 0.24 0.04 0.20 0.17 0.20 + 0.01 0.39 0.09 0.13 0.00 0.13 unch 0.00 0.13 0.02 58.56 55.69 56.18 - 2.03 72.02 50.49 0.12 0.10 0.11 - 0.01 0.17 0.08 0.09 0.08 0.08 - 0.00 0.11 0.05 0.06 0.00 0.06 + 0.01 0.06 0.03 0.12 0.00 0.11 - 0.01 0.25 0.06 0.00 0.00 0.09 unch 0.00 0.23 0.07 0.07 0.06 0.06 - 0.01 0.18 0.05 0.27 0.22 0.23 + 0.04 0.29 0.12 0.04 0.03 0.04 + 0.01 0.08 0.03 0.11 0.10 0.10 - 0.01 0.16 0.05 0.09 0.07 0.07 - 0.02 0.12 0.06 0.19 0.18 0.18 - 0.02 0.38 0.16 0.30 0.16 0.28 + 0.05 0.30 0.03 0.10 0.08 0.08 - 0.02 0.14 0.03 0.06 0.05 0.06 - 0.00 0.11 0.02 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.13 0.12 0.13 + 0.02 0.25 0.08 0.16 0.15 0.16 + 0.02 0.32 0.10 0.17 0.14 0.14 unch 0.00 0.17 0.00 1.07 0.98 0.99 - 0.08 1.35 0.86

B

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Bluestone Res V 22 Bold Vent V 454 O 22270 Bonanza Gldfds* BonTerra Res V 966 O 266 BonTerra Res* Boreal Metals V 517 Borneo Res Inv* O 22797 Bravada Gold V 64 O 67 Bravada Gold* V 100 Braveheart Res O 71 Bravo Multinat* 11989 Brazil Mnrls* O V 50 Brigadier Gold O 38 BrightRock Gld* O 2 Brilliant Sand* Brio Gold T 162 Britannia Mng* O 396 Brixton Mtls V 490 Brixton Mtls* O 188 O 54 Broadway Gold* V 86 Broadway Gold O 1050 Brookmount Exp* V 16 Brunswick Res Bryn Res* O 8 V 53 Buccaneer Gold Buenaventura* N 4590 Buffalo Coal V 50 Bullfrog Gold* O 398 Bunker Hill 100 BWR Explor V 25

1.30 1.27 1.30 unch 0.00 1.90 0.95 0.04 0.04 0.04 - 0.01 0.06 0.03 0.00 0.00 0.00 + 0.00 0.00 0.00 0.50 0.48 0.50 + 0.03 0.72 0.38 0.40 0.37 0.38 + 0.01 0.57 0.30 0.20 0.17 0.19 - 0.01 0.40 0.17 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.10 0.09 0.09 - 0.01 0.26 0.08 0.07 0.07 0.07 - 0.00 0.20 0.06 0.09 0.08 0.09 + 0.02 0.12 0.04 0.15 0.11 0.13 - 0.02 3.49 0.10 0.00 0.00 0.00 + 0.00 0.04 0.00 0.19 0.14 0.19 + 0.05 0.26 0.08 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.05 0.05 unch 0.00 0.12 0.01 2.95 2.59 2.95 + 0.28 2.99 1.54 0.00 0.00 0.00 + 0.00 0.01 0.00 0.24 0.21 0.23 - 0.01 0.49 0.20 0.19 0.16 0.18 - 0.00 0.39 0.15 0.16 0.14 0.15 - 0.00 0.68 0.14 0.20 0.19 0.19 + 0.02 0.85 0.17 0.01 0.01 0.01 - 0.00 0.13 0.00 0.04 0.04 0.04 unch 0.00 0.05 0.02 0.01 0.01 0.01 unch 0.00 0.01 0.00 0.12 0.11 0.12 + 0.01 0.18 0.03 15.67 15.16 15.52 - 0.11 16.80 10.87 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.10 0.07 0.09 + 0.01 0.18 0.05 1.68 1.45 1.49 - 0.16 3.15 1.15 0.06 0.06 0.06 - 0.01 0.10 0.04

Cabral Gold V 110 Cabral Gold* O 28 Cache Expl* O 4 Cache Expl V 237 O 4 Cadence Min* Cadillac Vent V 0 Caledonia Mng T 17 X 36 Caledonia Mng* Calibre Mng V 331 California Gld V 177 California Go* O 155 O 233 Callinex Mines* V 1087 Callinex Mines Cameco Corp* N 7025 Cameco Corp T 3890 Cameo Res* O 347 Cameo Res V 398 Camino Mnls* O 28 Camino Mnls V 135 Camrova Res V 161 O 4 Camrova Res* Canada Coal V 132 V 474 Canada Cobalt O 147 Canada Cobalt* Canada One* O 2 Canada One V 1 CanAlaska Uran V 153 O 110 CanAlaska Uran* CanAm Coal* O 33 Canamex Gold 148 O 29 Canamex Gold* V 654 Canamex Gold Canarc Res T 234 Canarc Res* O 12 Canasil Res V 195 O 75 Candelaria Mg* Candelaria Mg V 163 T 45 Candente Coppr O 297 Candente Gold* V 470 Candente Gold Canex Energy V 75 V 30 CANEX Metals 15 CANEX Metals * O O 0 CaNickel Mng* CaNickel Mng V 12 Canstar Res* O 50 Canterra Mnls V 4 199 Cantex Mn Dev V 20 Cantex Mn Dev* O Canuc Res V 283 Canuc Res* O 193 O 193 Canyon Copper* V 857 Canyon Copper T 3463 Capstone Mng Caracara Silvr V 71 Cardero Res V 46 Cardero Res* O 12 Cardinal Res* O 1 Cardinal Res T 200 Cariboo Rose V 380 Carlin Gold V 165 Carmax Mng V 182 Carmax Mng* O 100 Carrara Explor 167 Cartier Iron 237 Cartier Res V 579 Carube Copper V 148 V 90 Casa Minerals O 15 Casablanca Mng* V 26 Cascadero Copp Cassius Vents V 950 160 Castle Peak Mg V Cautivo Mining 0 Cava Res V 46 Cava Res* O 400 Cavan Vent V 368 Cda Carbon* O 64 Cda Carbon V 1587 342 Cda Rare Earth V 50 Cda Rare Earth* O Cda Strtgc Met V 1088 17 Cda Strtgc Met * O 617 Cda Zinc Mtls V 3 Cdn Intl Mnrls* O 119 Cdn Intl Mnrls V Cdn Metals 290 V 371 Cdn Orebodies Cdn Platinum V 1463 330 Cdn Silvr Hunt V Cdn Zinc T 1778 Cdn Zinc* O 433 Centamin T 34 O 30 Centaurus Diam* V 80 Centenera Mng O 26 Centenera Mng* Centerra Gold T 2455 Central Iron V 752 V 502 Centurion Mnls T 53 Century Global Cerro Grande 135 Cerro Mng* O 4 Cerro Mng V 400 Ceylon Graph V 186 V 302 Chakana Copper O 6 Chakana Copper* Chalice Gold M* O 140 130 Chalice Gold M T V 156 Champion Bear O 16 Champion Bear* T 806 Champion Iron O 19 Champion Iron* Chantrell Vent V 1110 V 12 Chatham Rock O 0 Chatham Rock* O 19 Chesapeake Gld* Chesapeake Gld V 24 Chevron Corp* N 28360 Chiboug Ind Mn V 1081 8 Chiboug Ind Mn* O V 305 Chilean Metals O 42 Chilean Metals* Chimata Gold V 901 746 China Gold Int T 1 China Mnls Mng V 0 China Mnls Mng* O Chinapintza Mg V 5 Cicada Vents V 2 5 CIM Intl Grp Cipher Res* O 35 Cipher Res V 106 574 Claim Post Res V V 150 Clarmin Explor Clean Comm V 3166

0.34 0.33 0.34 + 0.01 0.50 0.28 0.27 0.27 0.27 + 0.00 0.32 0.26 0.03 0.03 0.03 + 0.00 0.21 0.03 0.05 0.00 0.05 unch 0.00 0.31 0.04 1.61 1.61 1.61 unch 0.00 5.31 1.61 0.00 0.00 0.04 unch 0.00 0.06 0.03 12.25 11.65 11.83 - 0.20 12.50 6.70 9.51 8.86 9.08 - 0.29 9.94 0.06 0.07 0.06 0.07 unch 0.00 0.18 0.06 0.26 0.23 0.26 + 0.03 0.64 0.21 0.19 0.18 0.18 - 0.02 0.49 0.16 0.23 0.18 0.19 + 0.00 0.39 0.17 0.31 0.24 0.24 + 0.01 0.48 0.22 11.68 11.21 11.36 - 0.15 11.68 7.68 14.93 14.46 14.65 - 0.08 15.01 9.90 0.85 0.72 0.74 - 0.06 1.09 0.34 1.07 0.95 0.96 - 0.07 1.60 0.30 0.23 0.18 0.18 - 0.05 1.20 0.20 0.27 0.25 0.25 - 0.03 1.62 0.25 0.09 0.07 0.08 - 0.01 0.16 0.06 0.06 0.05 0.05 + 0.00 0.15 0.00 0.06 0.06 0.06 - 0.01 0.12 0.04 0.31 0.27 0.30 + 0.01 0.55 0.15 0.24 0.21 0.23 + 0.02 0.44 0.11 0.09 0.07 0.09 + 0.02 0.32 0.06 0.00 0.00 0.10 unch 0.00 0.52 0.08 0.36 0.34 0.35 + 0.01 0.45 0.26 0.28 0.26 0.27 - 0.01 0.37 0.21 0.00 0.00 0.00 - 0.00 0.01 0.00 0.16 0.13 0.15 unch 0.00 0.17 0.13 0.11 0.10 0.10 - 0.02 0.22 0.06 0.15 0.14 0.14 unch 0.00 0.28 0.08 0.07 0.06 0.06 - 0.01 0.11 0.06 0.05 0.05 0.05 - 0.00 0.08 0.04 0.08 0.07 0.08 + 0.01 0.20 0.07 0.41 0.29 0.30 - 0.11 1.08 0.06 0.44 0.00 0.39 - 0.13 1.04 0.38 0.09 0.08 0.09 unch 0.00 0.21 0.06 0.04 0.03 0.04 + 0.01 0.04 0.00 0.05 0.04 0.04 + 0.01 0.06 0.02 0.27 0.26 0.26 unch 0.00 0.40 0.18 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.04 0.04 0.04 unch 0.00 0.06 0.02 0.00 0.00 0.08 unch 0.00 0.18 0.08 0.12 0.11 0.11 unch 0.00 0.24 0.09 0.05 0.05 0.05 unch 0.00 0.07 0.03 0.03 0.00 0.03 unch 0.00 0.06 0.02 0.03 0.02 0.02 - 0.01 0.04 0.02 0.01 0.00 0.01 + 0.00 0.03 0.01 0.17 0.12 0.14 - 0.02 0.60 0.13 0.12 0.10 0.11 - 0.01 0.41 0.10 0.09 0.06 0.07 - 0.03 0.22 0.04 0.12 0.08 0.08 - 0.05 0.29 0.06 1.17 1.06 1.09 - 0.05 1.62 0.77 0.13 0.00 0.13 + 0.01 0.30 0.05 0.15 0.14 0.14 unch 0.00 0.22 0.07 0.11 0.10 0.11 + 0.01 0.17 0.05 0.40 0.40 0.40 + 0.01 0.46 0.35 0.48 0.44 0.48 + 0.02 1.05 0.43 0.04 0.03 0.04 unch 0.00 0.15 0.03 0.03 0.03 0.03 unch 0.00 0.10 0.03 0.19 0.16 0.17 unch 0.00 0.20 0.05 0.13 0.13 0.13 + 0.01 0.14 0.06 0.31 0.28 0.30 + 0.01 1.00 0.25 0.09 0.08 0.09 + 0.01 0.25 0.05 0.17 0.16 0.17 unch 0.00 0.38 0.15 0.08 0.00 0.08 - 0.01 0.13 0.05 0.16 0.15 0.15 - 0.01 0.22 0.07 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.08 0.08 0.08 unch 0.00 0.16 0.07 0.03 0.03 0.03 unch 0.00 0.07 0.03 0.03 0.02 0.03 unch 0.00 0.03 0.02 0.00 0.00 0.31 unch 0.00 0.85 0.20 0.24 0.17 0.20 + 0.03 0.35 0.15 0.15 0.14 0.14 unch 0.00 0.29 0.14 0.15 0.12 0.13 + 0.01 0.40 0.02 0.06 0.04 0.05 - 0.01 0.17 0.04 0.08 0.07 0.07 - 0.01 0.23 0.04 0.10 0.00 0.09 unch 0.00 0.10 0.03 0.07 0.06 0.07 - 0.00 0.08 0.02 0.11 0.10 0.10 unch 0.00 0.16 0.09 0.08 0.07 0.07 - 0.02 0.12 0.06 0.31 0.29 0.30 unch 0.00 0.39 0.22 0.15 0.00 0.15 unch 0.00 0.47 0.06 0.15 0.14 0.15 + 0.01 0.50 0.11 0.10 0.09 0.09 - 0.01 0.20 0.05 0.30 0.26 0.27 - 0.04 0.44 0.17 0.03 0.02 0.03 unch 0.00 0.05 0.01 0.06 0.05 0.06 + 0.02 0.12 0.04 0.14 0.12 0.14 + 0.02 0.23 0.12 0.10 0.09 0.10 + 0.00 0.19 0.09 2.86 2.78 2.82 - 0.04 3.05 2.19 0.12 0.05 0.11 + 0.01 0.20 0.03 0.16 0.14 0.14 - 0.02 0.26 0.12 0.13 0.11 0.11 - 0.02 0.21 0.10 7.44 7.23 7.33 + 0.08 9.35 5.90 0.02 0.02 0.02 - 0.01 0.07 0.01 0.04 0.03 0.03 unch 0.00 0.06 0.03 0.19 0.19 0.19 unch 0.00 0.29 0.13 0.01 0.00 0.01 - 0.01 0.03 0.01 0.13 0.13 0.13 unch 0.00 0.13 0.02 0.19 0.17 0.17 - 0.03 0.22 0.04 0.20 0.19 0.19 - 0.01 0.27 0.15 0.80 0.72 0.75 - 0.05 1.05 0.62 0.62 0.57 0.57 - 0.07 0.79 0.38 0.12 0.11 0.12 + 0.01 0.25 0.10 0.14 0.14 0.14 + 0.01 0.33 0.13 0.17 0.14 0.14 - 0.03 0.23 0.10 0.14 0.14 0.14 unch 0.00 0.18 0.10 1.28 1.21 1.22 - 0.06 1.59 0.85 0.99 0.96 0.96 - 0.06 1.22 0.61 0.07 0.05 0.06 + 0.01 0.10 0.05 0.29 0.00 0.29 + 0.02 0.57 0.25 0.00 0.00 0.23 unch 0.00 0.42 0.20 1.84 1.67 1.75 - 0.01 3.23 1.67 2.40 2.15 2.31 unch 0.00 4.00 2.15 131.08 127.80 127.86 - 1.98 133.88 102.55 0.07 0.05 0.06 unch 0.00 0.11 0.05 0.05 0.04 0.05 + 0.01 0.06 0.03 0.05 0.04 0.04 - 0.14 0.64 0.14 0.04 0.03 0.03 + 0.01 0.12 0.02 0.13 0.11 0.11 - 0.01 0.19 0.05 2.66 2.49 2.58 - 0.07 3.19 1.82 0.00 0.00 0.19 unch 0.00 0.50 0.16 0.00 0.00 0.14 unch 0.00 0.32 0.14 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.32 0.20 0.20 - 0.12 0.60 0.08 0.10 0.10 0.10 + 0.03 0.27 0.05 0.13 0.13 0.13 + 0.02 0.33 0.07 0.12 0.10 0.12 + 0.03 0.13 0.03 0.17 0.16 0.16 unch 0.00 0.50 0.16 0.07 0.06 0.06 - 0.01 0.21 0.05

C

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Clean Comm* O 34 V 300 Cleghorn Mnls 55599 N Cleveland-Clif* Clifton Mng* O 56 Cloud Peak En* N 3219 CMC Metals V 92 CMC Metals* O 5 5 CMX Gold & Sil CNRP Mng* O 125 260 Cobalt 27 Cap V Cobalt Block V 492 Cobalt Block* O 155 Cobalt Pwr Grp* O 357 Cobalt Pwr Grp V 4880 11040 Coeur Mng* N Colibri Res* O 21 Colibri Res V 98 O 3 Colombia Crest* V 20 Colombia Crest Colonial Coal V 1397 O 30 Colorado Gold* O 67 Colorado Res* Colorado Res V 333 T 277 Columbus Gold O 169 Columbus Gold* Comet Inds V 82 V 191 Commander Res O 401 Commerce Res* V 1638 Commerce Res V 272 Compass Gold X 1038 Comstock Mng* V 1590 Comstock Mtls 13 Comstock Mtls * O Condor Gold* O 5 Condor Gold T 3 Condor Res V 454 O 0 Confedertn Ml* V 13 Confedertn Mls V 614 Conquest Res V 11 Cons Woodjam CONSOL Coal Rs* N 115 N 2455 CONSOL Energy* N 9820 CONSOL Energy* O 115 Constantine Mt* V 369 Constantine Mt Contact Gold V 681 O 72 Contact Mnrls* Contintl Gold* O 70 Contintl Gold T 840 Contintl Prec* O 2 Contintl Prec V 23 363 Copper Fox Mtl V 19 Copper Fox Mtl* O 230 Copper Lake Rs V Copper Mtn Mng T 1004 63 Copper Mtn Mng* O 0 Copper North M* O 87 Copper North M V Copper One V 171 207 Copper Reef Mg Copperbank Res 817 O 73 Copperbank Res* 19 Coral Gold * O Coral Gold V 152 O 151 Cordoba Mnls* V 586 Cordoba Mnls Core Gold V 147 Core Gold* O 68 Core Lithium* O 48 V 681 Cornerstone Ca O 89 Cornerstone Ca* O 426 Cornerstone Mt* V 1397 Cornerstone Mt Coro Mining T 5516 Coronet Mtls 60 26 Corsa Coal * O Corsa Coal V 53 Corvus Gold T 366 Corvus Gold* O 151 CR Capital V 13 0 Crazy Horse Res* O Critical Elem V 977 Critical Elem* O 107 V 42 CROPS Crown Mining V 635 Cruz Cobalt V 1548 Cruz Cobalt* O 524 Crystal Lake V 1199 Crystal Lake* O 17 Crystal Peak* O 15 Crystal Peak V 49 O 0 CTGX Mining* 123 Currie Rose Rs V 70 Currie Rose Rs* O 92 CWN M’g Acq V O 1705 Cyclone Uran* Cypress Dev* O 137 Cypress Dev V 524

0.03 0.06 0.05 0.05 + 0.00 0.16 0.05 unch 0.00 0.11 0.10 0.10 0.10 5.56 9.08 8.16 8.61 + 0.19 9.15 0.05 0.09 0.08 0.09 + 0.01 0.14 3.32 3.03 3.05 - 0.13 5.70 2.76 0.04 unch 0.00 0.12 0.04 0.04 0.04 0.02 unch 0.00 0.08 0.02 0.02 0.02 0.07 0.07 0.07 unch 0.00 0.12 0.04 0.02 0.36 0.29 0.33 + 0.03 1.98 12.20 11.18 12.20 + 0.11 14.00 7.42 0.01 0.27 0.19 0.27 + 0.02 0.40 0.02 0.21 0.15 0.21 + 0.01 0.32 0.12 0.10 0.11 - 0.02 0.29 0.06 0.16 0.13 0.15 - 0.02 0.35 0.08 6.71 8.48 7.84 8.38 - 0.06 9.98 0.06 unch 0.00 0.16 0.06 0.06 0.06 0.07 0.08 0.00 0.07 - 0.01 0.28 0.00 unch 0.00 0.10 0.00 0.00 0.10 0.05 0.11 0.00 0.11 - 0.01 0.40 0.08 0.42 0.35 0.36 - 0.02 0.42 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.10 0.14 0.12 0.13 - 0.02 0.37 0.13 0.18 0.16 0.16 - 0.01 0.46 0.29 unch 0.00 0.92 0.33 0.30 0.30 0.22 0.25 0.23 0.24 + 0.01 0.73 2.50 unch 0.00 3.55 3.55 3.40 3.50 0.13 0.14 0.00 0.13 - 0.05 0.30 0.05 0.06 0.05 0.05 - 0.01 0.08 0.06 0.08 0.06 0.07 - 0.01 0.10 0.38 0.74 0.57 0.70 + 0.10 0.80 0.21 0.37 0.33 0.33 - 0.03 1.12 0.05 unch 0.00 0.18 0.06 0.00 0.06 0.05 0.05 0.05 unch 0.00 0.13 0.03 0.52 0.55 0.52 0.55 + 0.03 0.90 0.47 0.78 0.00 0.74 - 0.03 1.75 0.08 0.09 0.08 0.08 - 0.02 0.17 0.25 unch 0.00 0.60 0.00 0.00 0.25 0.30 0.37 0.00 0.35 + 0.02 0.81 0.01 unch 0.00 0.10 0.04 0.03 0.03 0.04 unch 0.00 0.09 0.06 0.06 0.06 16.00 15.00 15.90 + 0.60 16.65 12.56 19.51 44.85 42.74 43.87 + 0.96 44.85 11.69 16.73 15.68 16.34 + 0.78 18.09 0.11 0.14 0.00 0.12 - 0.01 0.28 0.56 0.66 0.16 0.66 + 0.02 1.40 0.31 0.36 0.31 0.31 - 0.05 1.10 0.06 0.40 0.22 0.39 - 0.01 0.45 2.26 2.96 2.80 2.94 + 0.08 3.22 2.84 3.85 3.58 3.75 + 0.09 4.13 0.20 0.30 0.29 0.30 + 0.01 0.30 0.26 unch 0.00 0.40 0.39 0.00 0.39 0.10 0.09 0.10 + 0.01 0.18 0.09 0.08 0.07 0.07 + 0.00 0.15 0.07 0.04 0.04 0.04 unch 0.00 0.10 0.03 1.23 1.14 1.15 - 0.06 1.85 0.72 0.97 0.88 0.89 - 0.05 1.47 0.54 0.00 0.00 0.03 unch 0.00 0.08 0.03 0.05 0.00 0.05 + 0.01 0.11 0.05 0.03 0.13 0.12 0.13 + 0.01 0.22 0.03 0.02 0.02 unch 0.00 0.03 0.01 0.06 0.09 0.07 0.09 + 0.01 0.18 0.04 0.07 0.06 0.07 - 0.00 0.14 0.31 0.16 0.31 + 0.02 0.35 0.16 0.31 0.39 0.37 0.39 - 0.01 0.43 0.11 0.20 0.16 0.17 - 0.04 0.74 0.15 0.26 0.21 0.22 - 0.05 1.00 0.22 0.34 0.31 0.31 - 0.02 0.40 0.18 0.26 0.24 0.24 - 0.01 0.34 0.10 0.75 0.30 0.75 + 0.46 4.07 0.15 0.27 0.21 0.21 - 0.04 0.55 0.13 0.20 0.16 0.17 - 0.03 0.44 0.13 0.48 0.35 0.45 + 0.07 0.52 0.07 0.62 0.45 0.57 + 0.09 0.66 0.08 unch 0.00 0.16 0.09 0.09 0.09 0.17 0.25 0.00 0.23 - 0.03 0.25 1.22 0.95 1.06 + 0.02 2.25 0.95 1.12 1.36 1.23 1.23 - 0.08 2.30 0.69 2.95 2.50 2.86 - 0.09 3.20 0.53 2.31 2.00 2.24 - 0.09 2.45 0.06 unch 0.00 0.15 0.10 0.07 0.10 0.13 0.13 0.13 unch 0.00 0.18 0.12 0.69 1.09 0.98 1.02 - 0.05 1.86 0.51 0.83 0.78 0.79 - 0.03 1.48 0.06 0.08 0.07 0.07 - 0.01 0.20 0.07 0.14 0.11 0.14 + 0.01 0.28 0.16 0.20 0.16 0.18 - 0.02 0.41 0.12 0.01 0.35 0.14 - 0.15 0.12 0.16 0.69 0.56 0.62 - 0.03 1.12 0.13 0.50 0.44 0.45 - 0.05 0.84 0.21 0.29 0.26 0.26 - 0.01 0.46 0.30 unch 0.00 0.58 0.37 0.34 0.37 0.10 unch 0.00 0.25 0.00 0.00 0.25 0.08 0.08 0.08 + 0.01 0.20 0.04 0.06 0.05 0.05 unch 0.00 0.06 0.03 0.18 0.15 0.18 + 0.06 0.25 0.10 0.00 0.00 0.00 0.00 + 0.00 0.02 0.06 0.25 0.19 0.24 + 0.02 0.34 0.08 0.31 0.27 0.30 + 0.03 0.43

Dajin Res V 355 Dajin Res* O 418 Dakota Ter Res* O 150 Daleco Res* O 350 O 388 Dalradian Res* Dalradian Res T 1404 Damara Gold V 530 Danakali* O 114 Debut Dmds 30 Decade Res V 1922 Decade Res* O 1831 Declan Res 13 O 2 Deep-South Res* V 134 Deep-South Res Defiance Silvr V 252 O 250 Defiance Silvr* Delrand Res V 52 T 1433 Denison Mines X 1557 Denison Mines* Desert Gold V 13 Desert Lion* O 21 Desert Lion V 1044 441 Desert Mtn Egy V Desert Mtn Egy* O 158 Detour Gold T 6746 O 34 Diamante Min* O 140 Diamcor Mng* Diamcor Mng V 120 O 50 Diamond Disc* V 64 Diamond Fields O 0 Diamond Fields* Dios Expl V 275 O 1564 Discovery Gold* V 117 Discovery Met 90881 O Discovery Mnls* V 288 Discovery-Corp Ditem Explor* O 11 O 50 Diversified Rs* DNI Metals 2553 DNI Metals* O 279 Dolat Ventures* O 217 Dolly Vard Sil* O 112 125 Dolly Vard Sil V O 20 Doubleview Cap* V 264 Doubleview Cap DRDGOLD* N 239 50 Duncan Park H V 428 Dundee Prec Mt T O 12 Dunnedin Vent* Duran Vent V 289 42 Duran Vent * O Durango Res V 143 Durango Res* O 11 V 340 DV Resources 164 Dynacor Gld Mn T 17 Dynacor Gld Mn* O O 1 Dynamic Gold* O 17 DynaResource* Dynasty Gold V 105 O 120 Dynasty Gold* E3 Metals V 134 V 44 Eagle Graphite O 1 Eagle Graphite* Eagle Plains V 96 13 East Africa * O 59 V East Africa

0.08 0.13 0.10 0.11 - 0.01 0.22 0.06 0.10 0.08 0.08 - 0.01 0.17 0.08 0.05 0.06 - 0.03 0.10 0.03 0.00 0.00 0.01 0.00 + 0.00 0.00 0.72 0.84 0.75 0.75 - 0.04 1.37 0.91 1.08 0.97 0.98 - 0.06 1.78 0.04 0.06 0.00 0.06 + 0.01 0.22 0.48 0.51 0.48 0.48 - 0.05 0.65 0.01 0.02 0.00 0.01 - 0.01 0.03 0.05 unch 0.00 0.20 0.09 0.06 0.07 0.04 0.06 0.05 0.06 + 0.01 0.16 0.06 0.29 0.25 0.29 + 0.04 0.34 0.07 0.21 0.20 0.20 - 0.01 0.30 0.08 0.30 0.00 0.26 - 0.01 0.45 0.22 0.38 0.33 0.35 + 0.01 0.44 0.17 0.28 0.25 0.28 + 0.00 0.35 0.62 0.80 0.70 0.79 + 0.04 2.44 0.50 0.65 0.60 0.64 + 0.04 0.80 0.38 0.50 0.47 0.50 + 0.03 0.64 0.14 unch 0.00 0.30 0.17 0.17 0.17 0.77 0.96 0.77 0.96 + 0.17 1.03 0.95 1.30 0.95 1.26 + 0.18 2.35 0.25 0.17 0.19 + 0.02 0.25 0.06 0.20 0.15 0.20 + 0.05 0.20 0.01 10.70 9.85 10.20 - 0.23 18.74 9.11 0.02 0.17 0.13 0.14 - 0.02 0.17 0.28 0.29 0.29 0.29 + 0.01 0.76 0.35 unch 0.00 1.06 0.37 0.00 0.37 0.00 0.00 0.00 0.00 - 0.00 0.00 0.08 0.10 0.09 0.09 - 0.01 0.19 0.06 unch 0.00 0.11 0.00 0.00 0.07 0.06 0.09 0.08 0.09 - 0.01 0.19 0.00 0.00 0.00 0.00 - 0.00 0.01 0.27 0.39 0.34 0.37 - 0.02 0.92 0.00 0.00 0.00 0.00 + 0.00 0.00 0.01 unch 0.00 0.04 0.02 0.01 0.02 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.02 unch 0.00 0.15 0.03 0.03 0.03 0.06 0.09 0.00 0.08 - 0.01 0.16 0.00 0.08 0.06 0.07 - 0.01 0.13 1.89 1.00 1.89 + 0.38 15.80 0.80 0.49 0.44 0.44 - 0.01 0.84 0.36 0.62 0.57 0.59 unch 0.00 1.04 0.45 0.03 unch 0.00 0.08 0.07 0.07 0.07 0.04 unch 0.00 0.11 0.09 0.08 0.09 2.23 2.63 2.43 2.60 + 0.01 4.11 0.01 0.01 0.01 unch 0.00 0.02 0.01 3.53 3.15 3.24 - 0.15 3.60 2.13 0.13 0.19 0.17 0.17 - 0.02 0.26 0.04 0.06 0.05 0.05 + 0.01 0.10 0.04 0.03 0.04 + 0.01 0.08 0.03 0.06 0.08 0.00 0.08 - 0.01 0.14 0.05 unch 0.00 0.08 0.07 0.06 0.07 0.10 0.33 0.29 0.29 - 0.04 0.50 1.89 1.80 1.81 - 0.07 2.26 1.50 1.48 1.41 1.42 - 0.06 1.85 1.03 0.59 2.50 2.00 2.00 - 0.30 3.00 0.80 1.22 1.10 1.14 - 0.08 1.63 0.10 0.16 0.15 0.15 - 0.02 0.27 0.07 0.12 0.11 0.11 - 0.02 0.22 0.32 0.37 0.37 0.37 - 0.01 1.01 0.15 0.23 0.00 0.21 - 0.01 0.36 0.01 0.17 0.00 0.17 - 0.00 0.18 0.13 0.15 0.14 0.14 - 0.01 0.29 0.18 0.17 0.18 + 0.01 0.28 0.15 0.24 0.21 0.22 - 0.02 0.37 0.18

D-F

2018-05-22 11:08 AM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / MAY 28–JUNE 10, 2018

Week

12-month

Exc Volume High Low Last Change High Low

East Asia Mnls* O 150 317 East Asia Mnls V EastCoal Inc V 0 4 Eastern Platin* O Eastern Platin T 56 Eastern Zinc V 16 Eastfield Res V 60 Eastmain Res* O 211 Eastmain Res T 756 Eco Oro Mnls 36 67 Eco Oro Mnls* O eCobalt Solns T 4687 eCobalt Solns* O 690 V 24 Edgewater Expl Edgewater Expl* O 0 El Capitan Prc* O 760 El Nino Vent* O 125 El Nino Vent V 822 Elcora Res V 349 Elcora Res* O 133 N 18505 Eldorado Gold* T 4799 Eldorado Gold Electra Stone* O 0 Electra Stone V 166 Eloro Mnrls* O 221 Eloro Mnrls V 99 383 Ely Gold Royal V Ely Gold Royal* O 192 23 Elysee Dev * O Elysee Dev V 14 Emerita Res V 1168 Emgold Mng* O 1 Emgold Mng V 0 Empire Rock V 3 EMX Royalty* X 279 EMX Royalty V 195 O 1416 Encanto Potash* Encanto Potash V 6861 V 644 EnCore Energy Endeavour Mng T 1849 O 81 Endeavour Mng* N 5040 Endeavr Silver* Endeavr Silver T 796 V 267 Endurance Gold Energy Fuels* X 2768 Energy Fuels T 783 Enforcer Gold V 1905 Engold Mines* O 73 Engold Mines V 28 Ensurge* O 37 Entree Gold* X 439 Entree Gold T 403 Equitorial Ex V 2870 Equitorial Ex* O 1 Erdene Res Dev* O 91 Erdene Res Dev T 1337 Erin Ventures* O 93 Erin Ventures V 413 Ero Copper T 773 Ero Copper* O 2 51 Eros Res Corp* O 146 Eros Res Corp V Eros Res Corp V 146 Eskay Mng V 179 Essex Minerals V 184 Ethos Gold* O 19 Ethos Gold V 121 Euro Sun Mg* O 10 227 Euro Sun Mg T EurOmax Res* O 0 EurOmax Res T 100 O 39 European Elect* European Elect V 186 O 330 European Metal* Everton Res* O 23 Everton Res V 1099 110 EVI Global Grp Evolving Gold 1 O 29 Evolving Gold* Evrim Res V 742 Excellon Res T 127 Excellon Res* O 101 Excelsior Mng* O 243 T 501 Excelsior Mng ExGen Res Inc V 69 Explor Res* O 92 Explor Res V 170 Explorex Res* O 30 Explorex Res 51 Fairmont Res V 58 Falco Res V 859 45 Falco Res * O Falcon Gold V 1044 V 370 Fancamp Expl Far Res 4850 Far Res* O 91 V 165 Fengro Industr Filo Mg Corp V 34 Finlay Minrls V 628 Fiore Gold* O 203 Fiore Gold V 283 5 Fire River Gol* O Firebird Res V 125 Firesteel Res V 239 Firestone Vent V 8 Fireweed Zinc V 1419 O 318 Fireweed Zinc* Firma Holdings* O 24 First Bauxite V 2154 First Bauxite* O 4 First Cobalt * O 434 First Cobalt V 1608 First Colombia* O 2491 First Energy* O 0 First Energy V 44 First Legacy V 104 First Liberty* O 2229 First Majestic T 3468 N 13676 First Majestic* First Mexican V 1118 First Mg Fin * O 1507 T 1401 First Mg Fin First Point* O 6 First Quantum T 10584 Fission 3.0 V 82 Fission 3.0* O 73 Fission Uran* O 815 Fission Uran T 1264 89 Five Star Diam V Five Star Diam* O 3 O 14 Fjordland Exp* Fjordland Exp V 133 Focus Graphite* O 266 V 2125 Focus Graphite Foran Mng V 45 Forsys Metals T 261 10 Fort St James V Fortescue Met* O 1 Fortuna Silvr* N 3269 Fortuna Silvr T 1517 Fortune Bay* O 7 Fortune Bay V 189 Fortune Mnrls* O 3698 Fortune Mnrls T 4468 Forum Energy V 176 O 60 Forum Energy* Fox River Res* O 113 Fox River Res 44 FPX Nickel V 533 Franco-Nevada* N 2113 Franco-Nevada T 2278 Franklin Mng* O 3 Freedom Egy V 88 Freegold Vent T 60 Freeport McMoR* N 78770 Freeport Res V 228 Fremont Gold V 83 Fremont Gold* O 73 4 Fresnillo plc* O Frontier Lith V 217 Frontline Gold V 68 Fura Gems V 478 Fura Gems* O 124

0.04 0.04 0.04 - 0.00 0.49 0.03 0.05 0.00 0.05 - 0.01 0.74 0.05 0.00 0.00 0.12 unch 0.00 0.20 0.07 0.27 0.25 0.25 - 0.01 0.37 0.19 0.35 0.33 0.33 - 0.01 0.50 0.25 0.26 0.26 0.26 unch 0.00 0.46 0.15 0.03 0.00 0.03 - 0.01 0.05 0.03 0.21 0.19 0.21 + 0.02 0.33 0.14 0.28 0.24 0.28 + 0.04 0.45 0.16 0.22 0.22 0.22 unch 0.00 0.45 0.15 0.17 0.17 0.17 - 0.02 0.40 0.12 1.42 1.35 1.40 + 0.03 2.10 0.91 1.10 1.04 1.08 - 0.00 1.74 0.68 0.18 0.16 0.16 - 0.02 0.22 0.12 0.00 0.00 0.09 unch 0.00 0.16 0.09 0.02 0.02 0.02 - 0.00 0.09 0.01 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.05 0.03 0.04 + 0.01 0.08 0.02 0.30 0.25 0.30 + 0.05 0.56 0.13 0.24 0.19 0.22 + 0.02 0.44 0.12 1.02 0.93 1.00 + 0.05 3.66 0.80 1.31 1.20 1.29 + 0.07 4.78 1.03 0.00 0.00 0.01 unch 0.00 0.03 0.01 0.02 0.01 0.01 - 0.01 0.04 0.01 0.50 0.45 0.47 - 0.03 0.96 0.45 0.65 0.57 0.65 + 0.04 1.27 0.53 0.11 0.10 0.11 - 0.01 0.15 0.09 0.10 0.08 0.08 - 0.01 0.13 0.07 0.30 0.28 0.30 - 0.00 0.31 0.20 0.38 0.36 0.38 + 0.02 0.40 0.26 0.10 0.09 0.10 - 0.01 0.17 0.08 0.09 0.09 0.09 unch 0.00 0.25 0.09 0.00 0.00 0.15 unch 0.00 0.31 0.14 0.17 0.17 0.17 unch 0.00 0.30 0.16 0.99 0.89 0.98 + 0.07 1.04 0.67 1.28 1.14 1.28 + 0.10 1.32 0.85 0.03 0.02 0.02 - 0.00 0.06 0.02 0.30 0.02 0.30 - 0.01 0.85 0.20 0.06 0.05 0.05 - 0.01 0.08 0.04 22.65 20.61 21.43 - 1.01 26.86 19.77 17.34 16.01 16.62 - 0.98 21.72 14.67 2.95 2.71 2.87 - 0.05 3.25 1.94 3.76 3.50 3.69 - 0.04 4.41 2.50 0.08 0.07 0.07 - 0.01 0.09 0.05 2.21 1.95 2.08 + 0.04 2.21 1.30 2.81 2.52 2.68 + 0.08 2.81 1.66 0.06 0.05 0.05 - 0.01 0.25 0.05 0.20 0.19 0.19 unch 0.00 0.36 0.14 0.28 0.25 0.25 - 0.02 0.49 0.14 0.05 0.05 0.05 unch 0.00 0.10 0.02 0.38 0.33 0.35 - 0.03 0.69 0.33 0.48 0.42 0.45 - 0.03 0.85 0.42 0.10 0.09 0.09 unch 0.00 0.15 0.06 0.06 0.06 0.06 - 0.00 0.11 0.04 0.30 0.26 0.26 + 0.00 0.95 0.26 0.38 0.33 0.33 + 0.01 1.27 0.32 0.09 0.08 0.09 + 0.01 0.23 0.01 0.11 0.09 0.11 + 0.01 0.33 0.08 8.90 7.54 8.85 + 1.24 9.07 4.70 6.80 0.00 6.80 + 0.76 7.25 3.88 0.09 0.08 0.09 + 0.01 0.18 0.08 0.12 0.00 0.12 + 0.01 0.23 0.11 0.12 0.00 0.12 + 0.01 0.23 0.11 0.27 0.22 0.23 - 0.04 0.51 0.18 0.14 0.09 0.12 - 0.02 0.25 0.09 0.12 0.12 0.12 - 0.00 0.23 0.10 0.16 0.13 0.15 - 0.01 0.28 0.13 0.99 0.97 0.97 - 0.01 1.55 0.51 1.30 1.20 1.20 - 0.08 2.02 0.68 0.00 0.00 0.15 unch 0.00 0.37 0.14 0.20 0.20 0.20 unch 0.00 0.50 0.19 0.38 0.19 0.21 - 0.15 0.79 0.14 0.45 0.30 0.30 - 0.10 0.93 0.15 0.00 0.00 0.00 + 0.00 0.01 0.00 0.03 0.03 0.03 + 0.00 0.07 0.02 0.05 0.04 0.04 unch 0.00 0.09 0.03 0.28 0.25 0.25 - 0.01 0.43 0.02 0.00 0.00 0.14 unch 0.00 0.41 0.10 0.11 0.10 0.10 + 0.01 0.32 0.08 1.26 1.15 1.23 - 0.03 1.70 0.19 1.55 1.38 1.45 - 0.10 2.30 1.22 1.21 1.03 1.14 - 0.06 1.87 0.92 1.15 1.07 1.09 - 0.01 1.21 0.59 1.45 1.37 1.39 - 0.02 1.50 0.79 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.04 0.03 0.04 + 0.00 0.08 0.02 0.04 0.00 0.04 unch 0.00 0.10 0.04 0.26 0.22 0.26 + 0.02 0.31 0.12 0.33 0.28 0.33 + 0.03 0.65 0.16 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.68 0.62 0.66 + 0.06 1.27 0.58 0.53 0.46 0.52 + 0.04 1.01 0.44 0.05 0.00 0.05 - 0.01 0.08 0.04 0.10 0.09 0.09 - 0.01 0.18 0.05 0.27 0.22 0.23 - 0.03 1.10 0.08 0.20 0.17 0.17 - 0.02 0.87 0.06 0.19 0.17 0.18 - 0.02 0.40 0.14 2.45 0.00 2.30 unch 0.00 2.80 1.81 0.05 0.05 0.05 unch 0.00 0.34 0.05 0.48 0.42 0.43 - 0.03 0.95 0.22 0.58 0.55 0.57 - 0.02 1.18 0.51 0.13 0.00 0.05 + 0.04 0.51 0.00 0.04 0.04 0.04 + 0.01 0.09 0.01 0.13 0.11 0.12 - 0.01 0.16 0.04 0.11 0.10 0.10 - 0.01 0.19 0.03 2.12 1.50 2.04 + 0.49 2.12 0.67 1.67 1.24 1.60 + 0.36 1.67 0.54 0.06 0.06 0.06 unch 0.00 0.13 0.04 0.05 0.04 0.05 unch 0.00 0.06 0.03 0.03 0.03 0.03 unch 0.00 0.04 0.02 0.62 0.56 0.60 + 0.01 1.30 0.31 0.79 0.74 0.78 + 0.01 1.65 0.42 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.31 unch 0.00 0.32 0.10 0.42 0.00 0.39 - 0.02 0.42 0.15 0.18 0.16 0.18 unch 0.00 0.25 0.16 0.00 0.00 0.00 + 0.00 0.00 0.00 9.42 8.84 9.14 - 0.04 12.38 6.24 7.38 6.83 7.09 - 0.08 9.24 4.93 0.05 0.04 0.04 unch 0.00 0.07 0.01 0.44 0.39 0.40 - 0.03 0.60 0.31 0.55 0.50 0.51 - 0.04 0.75 0.41 0.13 0.11 0.11 - 0.00 0.13 0.06 22.27 20.31 21.94 + 1.11 22.27 9.69 0.16 0.15 0.16 + 0.01 0.36 0.14 0.17 0.11 0.11 - 0.06 0.17 0.02 0.54 0.50 0.53 + 0.00 0.72 0.40 0.69 0.65 0.69 + 0.03 0.89 0.53 0.13 0.11 0.12 - 0.01 0.41 0.11 0.11 0.11 0.11 unch 0.00 0.25 0.11 0.15 0.15 0.15 unch 0.00 0.47 0.07 0.20 0.17 0.20 + 0.02 0.59 0.10 0.03 0.03 0.03 + 0.00 0.08 0.03 0.04 0.04 0.04 - 0.01 0.11 0.04 0.46 0.45 0.46 + 0.01 0.62 0.24 0.12 0.11 0.12 + 0.02 0.21 0.09 0.50 0.00 0.48 - 0.02 0.59 0.15 3.66 0.00 3.59 - 0.08 4.79 3.22 5.74 5.43 5.50 - 0.20 6.08 4.03 7.31 7.03 7.08 - 0.19 7.63 5.13 0.27 0.00 0.25 - 0.02 0.50 0.23 0.35 0.33 0.33 - 0.02 0.67 0.35 0.18 0.13 0.15 - 0.03 0.33 0.00 0.23 0.18 0.20 - 0.03 0.38 0.18 0.06 0.00 0.05 - 0.01 0.09 0.04 0.05 0.05 0.05 unch 0.00 0.07 0.03 0.05 0.05 0.05 unch 0.00 0.08 0.02 0.06 0.00 0.06 unch 0.00 0.15 0.05 0.16 0.14 0.14 - 0.02 0.18 0.07 73.72 70.12 70.67 - 2.71 86.06 66.19 94.11 90.26 91.10 - 2.74 110.18 85.21 0.00 0.00 0.00 + 0.00 0.01 0.00 0.08 0.06 0.06 - 0.01 0.14 0.05 0.08 0.00 0.08 - 0.01 0.17 0.08 17.17 15.69 16.87 + 0.60 20.25 11.05 0.07 0.06 0.07 + 0.01 0.08 0.03 0.16 0.14 0.16 unch 0.00 0.22 0.11 0.12 0.11 0.12 - 0.02 0.17 0.10 17.68 0.00 16.70 - 0.61 22.27 16.10 0.49 0.44 0.45 - 0.01 0.85 0.31 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.51 0.45 0.50 + 0.05 1.13 0.35 0.40 0.36 0.37 + 0.01 1.23 0.35

Gabriel Res V 5 Gabriel Res* O 11 Gainey Capital V 217 Galane Gold V 280 Galantas Gold* O 125 V 69 Galantas Gold Galore Res V 71 Galway Gold V 19

0.31 0.00 0.31 unch 0.00 0.45 0.26 0.24 0.24 0.24 - 0.00 0.34 0.20 0.08 0.07 0.08 unch 0.00 0.20 0.07 0.07 0.06 0.06 unch 0.00 0.12 0.05 0.08 0.08 0.08 + 0.02 0.10 0.06 0.10 0.09 0.09 unch 0.00 0.13 0.07 0.03 0.02 0.02 - 0.01 0.06 0.01 0.06 0.06 0.06 unch 0.00 0.16 0.05

G-H

20-23_MAY28_StockTables.indd 21

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Galway Mtls* O 48 Galway Mtls V 96 GAR Limited 6905 Garibaldi Res * O 107 Garibaldi Res V 1096 General Moly T 4 General Moly* X 519 Generation Min 487 Generic Gold 27 Genesis Mtls* O 75 Genesis Mtls V 1244 V 1912 Gensource Pot Gentor Res V 125 O 800 Geologix Expl* Geologix Expl V 759 Geomega Res* O 283 V 2289 Geomega Res Gespeg Cop Res V 4361 Getty Copper V 117 GFG Resources* O 9 GFM Res V 3 GGL Res V 14 GGL Res* O 0 GGX Gold* O 8 GGX Gold V 3250 Giga Metals* O 81 Giga Metals V 565 Gitennes Expl V 209 Giyani Gold V 245 Giyani Gold* O 156 Glacier Lake V 253 Gldn Predator V 486 Gldn Predator* O 191 107 Glen Eagle Res V Glencore Plc* O 942 V 149 Global Atomic O 200 Global Cobalt* Global Energy V 249 O 15 Global Energy* Global Gold* O 1 O 1 Global Hunter* Global Li-Ion 151 Global Li-Ion* O 55 O 1 GlobalMin Vent* Globex Mng T 98 Globex Mng* O 23 O 12 GMV Minerals* GMV Minerals V 203 O 7026 GNCC Capital* GobiMin V 0 GoGold Res T 1093 O 298 Gold Dynamics* Gold Fields* O 32 14045 Gold Fields* N Gold Finder Ex* O 176 979 Gold Finder Ex V Gold Lakes* O 26 Gold Reserve V 11 O 28 Gold Reserve* Gold Resource* X 2512 Gold Std Vents* X 1296 260 Gold Std Vents T Goldbank Mng V 3 Goldcliff Res* O 69 Goldcliff Res V 243 Goldcorp T 7585 Goldcorp* N 21872 Golden Arrow V 494 O 259 Golden Arrow* Golden Band* O 44 V 5 Golden Cariboo 143 Golden Dawn Ml V Golden Dawn Ml* O 5 O 70 Golden Global* Golden Goliath* O 39 V 64 Golden Goliath O 0 Golden Hope* Golden Hope V 112 Golden Mnls* X 534 Golden Mnls T 49 400 Golden Peak Mn V 10 Golden Peak Mn* O Golden Queen* O 415 T 267 Golden Queen Golden Reign V 2087 Golden Ridge V 1148 V 51 Golden Secret Golden Share V 52 O 9 Golden Share* Golden Star T 423 Golden Star* X 5227 Golden Sun* O 25 Golden Tag V 76 O 306 Golden Valley* Golden Valley V 452 Goldex Res* O 9 Goldex Res V 61 Goldgroup Mng* O 272 T 572 Goldgroup Mng GoldMining V 636 GoldON Res V 11 Goldplay Expl V 241 GoldQuest Mng V 411 Goldrea Res 898 Goldrea Res* O 10 O 134 Goldrich Mng* O 44 Goldsource Min* Goldsource Min V 900 Goldstar Mnls V 813 Goldstream Mnl V 10 V 403 Goldstrike Res Goliath Res* O 115 Goliath Res V 1463 Gorilla Min 75 Gossan Res V 130 O 352 GoviEx Uranium* V 1026 GoviEx Uranium Gowest Gold* O 606 Gowest Gold V 849 GPM Metals V 8 GPM Metals* O 3 O 88 Gran Colombia* Gran Colombia T 377 Granada Gold V 469 Granada Gold* O 84 V 70 Grande Portage O 10 Grande Portage* Granite Ck Gld V 301 O 35 Graphite Corp* Graphite Egy* O 162 Graphite Egy 111 O 348 Graphite One* Graphite One V 353 Gratomic* O 31 Gratomic V 5307 65 Gray Rock Res V Great Atlantic V 124 Great Bear Res V 135 Great Bear Res* O 144 Great Lakes Gr* O 670 Great Lakes Gr V 1010 Great Panther T 128 Great Panther* X 1134 4 Great Quest Fe* O Great Quest Fe V 154 V 160 Great Thunder O 1724 Great Western* Green Arrow V 10 Green River 56 Green Swan Cap V 85 69 Green Valley M V V 197 Greencastle Rs Greenland M&En* O 622 V 21 Greenshield Ex Grenville Gold V 0 Grizzly Discvr V 199 O 85 Grizzly Discvr* Grosvenor Res V 1 Group Eleven V 394 Group Ten Mtls* O 73 262 Group Ten Mtls V O 170 GrowMax Res* GrowMax Res V 566 GT Gold V 1008 GT Gold * O 123 647 GTA Res & Mng V V 134 Guerrero Vents Gungnir Res V 109 Gungnir Res* O 95 Gunpoint Expl V 14 T 2309 Guyana Gldflds V 857 Guyana Goldstr Guyana Goldstr* O 250 V 43 Handa Copper

0.17 0.00 0.17 - 0.01 0.36 0.16 0.22 0.00 0.22 + 0.01 0.45 0.21 0.22 0.16 0.21 + 0.04 0.65 0.06 2.82 2.36 2.61 - 0.10 4.12 0.10 3.60 3.06 3.37 - 0.17 5.27 0.12 0.51 0.50 0.51 + 0.03 0.61 0.35 0.41 0.37 0.41 + 0.02 0.53 0.28 0.12 0.08 0.10 unch 0.00 0.20 0.08 0.28 0.00 0.28 + 0.05 0.32 0.18 0.06 0.00 0.06 - 0.01 0.18 0.05 0.08 0.08 0.08 + 0.01 0.22 0.07 0.15 0.12 0.13 unch 0.00 0.18 0.06 0.08 0.08 0.08 + 0.02 0.20 0.06 0.03 0.02 0.02 + 0.00 0.07 0.02 0.03 0.03 0.03 + 0.01 0.09 0.02 0.12 0.10 0.10 + 0.01 0.12 0.04 0.20 0.12 0.14 + 0.02 0.20 0.06 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.02 0.02 0.02 - 0.01 0.04 0.02 0.23 0.20 0.20 - 0.02 0.66 0.18 0.15 0.15 0.15 unch 0.00 0.15 0.01 0.13 0.13 0.13 unch 0.00 0.19 0.10 0.00 0.00 0.11 unch 0.00 0.13 0.09 0.11 0.09 0.11 + 0.01 0.17 0.07 0.14 0.12 0.13 - 0.01 0.24 0.09 0.18 0.13 0.13 - 0.06 0.72 0.11 0.25 0.18 0.18 - 0.06 0.92 0.05 0.07 0.05 0.05 - 0.02 0.15 0.04 0.27 0.23 0.25 - 0.01 0.50 0.20 0.21 0.18 0.18 - 0.03 0.41 0.17 0.06 0.05 0.05 unch 0.00 0.13 0.05 0.51 0.45 0.47 - 0.02 1.59 0.40 0.40 0.34 0.37 - 0.02 1.18 0.30 0.17 0.15 0.16 - 0.01 0.31 0.14 10.72 9.90 10.13 - 0.24 11.68 6.90 0.28 0.26 0.27 - 0.02 0.59 0.20 0.01 0.00 0.01 unch 0.00 0.43 0.00 0.12 0.11 0.11 - 0.01 0.27 0.10 0.09 0.08 0.08 - 0.01 0.22 0.08 2.75 0.00 2.50 - 0.25 12.55 1.78 0.01 0.00 0.01 unch 0.00 0.10 0.01 0.33 0.29 0.30 - 0.03 0.97 0.30 0.26 0.23 0.24 - 0.02 0.80 0.23 0.05 0.05 0.05 unch 0.00 0.09 0.04 0.42 0.38 0.39 - 0.02 0.61 0.38 0.33 0.30 0.30 - 0.02 0.48 0.30 0.15 0.15 0.15 - 0.00 0.42 0.14 0.20 0.18 0.19 - 0.01 0.49 0.19 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.40 unch 0.00 0.58 0.33 0.51 0.45 0.50 - 0.01 0.69 0.31 0.00 0.00 0.00 unch 0.00 0.01 0.00 3.70 3.53 3.53 - 0.17 4.80 3.45 3.89 3.51 3.62 - 0.24 4.70 3.33 0.33 0.00 0.31 - 0.02 1.33 0.00 0.43 0.38 0.38 - 0.03 1.85 0.11 0.04 0.00 0.04 - 0.00 5.00 0.01 3.23 2.88 2.88 + 0.03 5.35 2.61 2.50 2.18 2.25 + 0.01 4.25 1.94 5.95 5.09 5.88 + 0.42 5.85 3.37 1.62 1.47 1.54 - 0.09 2.07 1.25 2.07 1.90 1.99 - 0.09 2.70 1.61 0.18 0.00 0.18 unch 0.00 0.34 0.07 0.10 0.07 0.07 - 0.02 0.41 0.07 0.12 0.09 0.10 - 0.02 0.52 0.09 17.67 17.17 17.46 - 0.19 19.32 15.00 13.85 13.29 13.54 - 0.27 15.55 11.64 0.52 0.46 0.49 - 0.01 0.75 0.37 0.41 0.36 0.39 - 0.01 0.58 0.29 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.07 0.07 0.07 unch 0.00 0.19 0.05 0.31 0.28 0.28 - 0.03 0.68 0.24 0.24 0.23 0.24 - 0.00 0.31 0.10 0.19 0.00 0.15 + 0.04 0.19 0.00 0.03 0.03 0.03 - 0.00 0.05 0.02 0.04 0.03 0.03 - 0.01 0.06 0.03 0.00 0.00 0.07 unch 0.00 0.12 0.06 0.10 0.00 0.10 + 0.01 0.16 0.07 0.43 0.40 0.41 - 0.01 0.68 0.36 0.54 0.50 0.52 - 0.01 0.88 0.46 0.32 0.29 0.30 + 0.05 0.37 0.16 0.22 0.22 0.22 unch 0.00 0.24 0.22 0.18 0.16 0.17 + 0.00 0.62 0.12 0.22 0.21 0.22 + 0.01 0.83 0.16 0.29 0.21 0.22 unch 0.00 0.37 0.18 0.15 0.14 0.14 + 0.01 0.41 0.11 0.26 0.26 0.26 + 0.01 0.50 0.19 0.24 0.19 0.20 - 0.04 0.30 0.09 0.20 0.20 0.20 unch 0.00 0.20 0.09 0.92 0.87 0.91 unch 0.00 1.17 0.70 0.72 0.67 0.70 - 0.01 0.92 0.56 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.05 0.05 unch 0.00 0.06 0.03 0.23 0.22 0.22 - 0.00 0.25 0.19 0.29 0.28 0.28 + 0.01 0.33 0.24 0.45 0.42 0.44 - 0.01 1.96 0.42 0.58 0.51 0.56 - 0.04 2.56 0.44 0.06 0.04 0.06 + 0.02 0.09 0.03 0.08 0.06 0.08 + 0.02 0.12 0.05 1.14 1.08 1.10 - 0.02 1.96 1.06 0.14 0.00 0.14 - 0.03 0.20 0.10 0.31 0.28 0.29 - 0.03 0.34 0.12 0.24 0.22 0.23 - 0.01 0.50 0.18 0.14 0.10 0.12 + 0.02 0.38 0.04 0.10 0.08 0.09 + 0.01 0.30 0.03 0.03 0.03 0.03 + 0.00 0.06 0.02 0.06 0.05 0.06 + 0.00 0.11 0.04 0.08 0.07 0.07 unch 0.00 0.14 0.06 0.06 0.05 0.05 - 0.01 0.09 0.03 0.12 0.00 0.10 + 0.01 0.13 0.05 0.19 0.18 0.18 - 0.01 0.39 0.17 0.04 0.04 0.04 unch 0.00 0.08 0.01 0.15 0.12 0.14 + 0.02 0.40 0.08 0.15 0.15 0.15 + 0.02 0.22 0.08 0.10 0.08 0.09 - 0.01 0.12 0.05 0.18 0.17 0.17 - 0.01 0.27 0.13 0.23 0.21 0.23 unch 0.00 0.33 0.17 0.05 0.04 0.05 - 0.00 0.18 0.04 0.07 0.06 0.07 + 0.01 0.25 0.06 0.06 0.05 0.05 - 0.01 0.18 0.05 0.04 0.04 0.04 unch 0.00 0.11 0.04 2.20 1.97 2.04 - 0.05 2.20 1.02 2.80 2.55 2.60 - 0.05 2.87 1.34 0.23 0.20 0.21 - 0.02 0.72 0.21 0.18 0.16 0.16 - 0.02 0.53 0.17 0.23 0.20 0.21 + 0.02 0.71 0.14 0.15 0.15 0.15 unch 0.00 0.56 0.11 0.13 0.09 0.09 unch 0.00 0.17 0.08 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.21 0.18 0.19 - 0.01 1.56 0.16 0.31 0.23 0.24 - 0.04 1.76 0.20 0.06 0.06 0.06 + 0.00 0.09 0.03 0.07 0.07 0.07 unch 0.00 0.12 0.04 0.12 0.10 0.11 - 0.00 0.21 0.04 0.15 0.13 0.14 + 0.01 0.32 0.05 0.19 0.14 0.18 - 0.02 0.57 0.14 0.09 0.00 0.07 - 0.02 0.24 0.07 0.49 0.46 0.49 + 0.01 0.73 0.23 0.40 0.36 0.36 - 0.02 0.59 0.19 0.05 0.02 0.03 - 0.01 0.08 0.02 0.05 0.03 0.05 + 0.01 0.09 0.03 1.63 1.55 1.58 - 0.04 1.86 1.39 1.27 1.21 1.23 - 0.04 1.46 1.06 0.07 0.07 0.07 unch 0.00 0.16 0.07 0.11 0.09 0.10 unch 0.00 0.24 0.09 0.03 0.03 0.03 - 0.01 0.08 0.03 0.00 0.00 0.00 - 0.00 0.01 0.00 0.03 0.03 0.03 - 0.01 0.19 0.03 0.07 0.06 0.06 - 0.01 0.09 0.02 0.05 0.05 0.05 unch 0.00 0.13 0.05 0.38 0.36 0.36 - 0.02 0.50 0.08 0.10 0.09 0.10 - 0.01 0.18 0.07 0.07 0.06 0.06 - 0.00 0.11 0.06 0.12 0.12 0.12 unch 0.00 0.15 0.05 0.00 0.00 0.08 unch 0.00 0.14 0.08 0.09 0.07 0.09 + 0.01 0.14 0.03 0.07 0.07 0.07 + 0.00 0.11 0.03 0.17 0.00 0.17 unch 0.00 0.21 0.16 0.15 0.15 0.15 unch 0.00 0.40 0.14 0.18 0.13 0.15 - 0.03 0.23 0.08 0.23 0.18 0.18 - 0.06 0.28 0.09 0.08 0.07 0.07 unch 0.00 0.13 0.06 0.11 0.10 0.10 - 0.01 0.19 0.09 0.82 0.75 0.79 - 0.02 2.76 0.32 0.65 0.59 0.63 - 0.02 2.24 0.30 0.05 0.04 0.04 unch 0.00 0.06 0.04 0.02 0.01 0.02 + 0.01 0.03 0.01 0.11 0.10 0.10 - 0.01 0.22 0.04 0.09 0.08 0.09 - 0.00 0.17 0.03 0.33 0.30 0.30 unch 0.00 0.33 0.16 5.35 4.93 4.96 - 0.35 6.30 3.96 0.33 0.27 0.33 + 0.03 0.38 0.14 0.23 0.23 0.23 unch 0.00 0.25 0.14 0.07 0.06 0.06 - 0.01 0.18 0.06

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Handeni Gold* O 1 V 82 Hannan Metals Hannan Metals* O 38 339 Happy Ck Mnrls V Harfang Explor V 89 N 13785 Harmony Gold* Harte Gold T 1160 Harte Gold* O 418 Harvest Gold* O 63 Harvest Gold V 1221 V 75 Hawkeye Gld&Di V 29 Heatherdale Rs Hecla Mining* N 16272 Helio Res V 59 Helio Res* O 10 Hellix Vent* O 8 O 3 Hemcare Health* Heron Res* O 26 Highbank Res V 175 Highland Copp V 205 O 95 Highland Copp* 25 Highway 50 Gld* O Highway 50 Gld V 79 HiHo Silver 422 Hinterland Mtl V 306 O 9 Hochschild Mg* V 41 Homeland Egy Honey Badger E V 3341 Honey Badger E* O 120 Horizonte Mnls T 991 6 Hornby Bay Mnl* O 26 Hornby Bay Mnl V HudBay Mnls* N 1790 HudBay Mnls T 6227 Hudson Res V 324 Hudson Res* O 108 Hunt Mng* O 57 Hunt Mng V 60 250 Hut 8 Mining V Hut 8 Mining* O 29 V 222 Hybrid Mineral Hycroft Mg* O 4

0.05 0.00 0.05 unch 0.00 0.14 0.02 0.22 0.18 0.20 - 0.01 0.50 0.18 0.17 0.14 0.17 - 0.00 0.36 0.14 0.18 0.17 0.18 + 0.02 0.26 0.14 0.28 0.26 0.26 - 0.01 0.35 0.22 1.94 1.75 1.78 - 0.14 2.53 1.56 0.42 0.40 0.41 - 0.01 0.77 0.33 0.34 0.31 0.33 - 0.00 0.57 0.26 0.04 0.04 0.04 + 0.01 0.05 0.03 0.06 0.05 0.05 + 0.01 0.07 0.03 0.06 0.06 0.06 unch 0.00 0.12 0.05 0.05 0.05 0.05 unch 0.00 0.08 0.04 4.01 3.84 3.96 + 0.03 6.13 3.25 0.13 0.11 0.13 + 0.01 0.75 0.11 0.09 0.09 0.09 unch 0.00 0.35 0.00 0.01 0.01 0.01 unch 0.00 0.23 0.01 0.55 0.55 0.55 unch 0.00 2.30 0.11 0.00 0.00 0.45 unch 0.00 1.00 0.45 0.04 0.03 0.03 unch 0.00 0.06 0.02 0.10 0.00 0.10 + 0.01 0.17 0.09 0.08 0.08 0.08 + 0.01 0.14 0.06 0.26 0.26 0.26 unch 0.00 0.41 0.21 0.33 0.25 0.33 + 0.08 0.60 0.22 0.08 0.07 0.08 + 0.01 0.14 0.03 0.04 0.03 0.04 + 0.01 0.05 0.02 2.89 0.00 2.89 + 0.07 4.37 2.58 0.29 0.29 0.29 unch 0.00 0.38 0.18 0.14 0.11 0.13 - 0.01 0.20 0.04 0.10 0.09 0.10 - 0.00 0.16 0.03 0.08 0.07 0.08 unch 0.00 0.11 0.04 0.04 0.04 0.04 unch 0.00 0.07 0.00 0.05 0.05 0.05 unch 0.00 0.08 0.00 7.63 7.10 7.30 - 0.20 10.25 4.60 9.74 9.21 9.39 - 0.17 12.65 6.13 0.46 0.43 0.45 unch 0.00 0.77 0.38 0.36 0.34 0.36 + 0.01 0.52 0.29 0.25 0.19 0.23 - 0.02 0.41 0.11 0.33 0.25 0.30 - 0.02 0.51 0.13 4.23 3.90 3.96 + 0.01 5.00 0.04 3.21 0.00 3.12 + 0.08 3.74 2.55 0.33 0.25 0.25 - 0.03 0.55 0.12 0.01 0.01 0.01 unch 0.00 2.00 0.01

I-Minerals* O 15 I-Minerals V 87 IAMGOLD T 3777 13870 IAMGOLD* N Iconic Mnls V 912 56 Iconic Mnls * O IDM Mining* O 262 IDM Mining V 428 IEMR Res V 162 IGC Res V 10 iMetal Res V 166 V 987 IMPACT Silver Imperial Metal* O 9 T 176 Imperial Metal Imperial Mg Gr V 110 Inca One Gold* O 240 201 Inca One Gold V Inception Mng * O 0 O 11 Independence G* Independence G V 376 Indico Res V 207 Indigo Expl V 85 Infinite Lith* O 160 Infinite Lith V 351 Inform Res V 100 Inomin Mines V 61 O 33 Inspiration Mg* Inspiration Mg 741 Intact Gold* O 30 Intact Gold V 445 Integra Res* O 18 Integra Res V 114 Inter-Rock Mnl V 49 O 13 Inter-Rock Mnl* Interconnect V 5 O 39 Intercontinent* Intercontinent V 156 Intgr Egy Sol* O 60770 Intl Battery* O 400 Intl Battery 637 12 Intl Bethl Mng V Intl Cobalt* O 43 Intl Cobalt 1635 Intl Corona V 125 Intl Lithium* O 74 Intl Lithium V 234 31 Intl Millm Mng V Intl Montoro V 1004 30 Intl Prospect * O Intl Prospect V 34 40 Intl Samuel Ex* O 706 Intl Samuel Ex V Intl Star* O 12039 575 Intl Tower Hil* X Intl Tower Hil T 32 Intl Zeolite V 607 Intl Zeolite* O 6 Intrepid Pots* N 13059 INV Metals* O 100 INV Metals T 187 Inventus Mg * O 133 Inventus Mg V 388 InZinc Mining V 206 O 118 InZinc Mining* Ireland* O 431 Ironside Res V 37 0 Ironside Res * O Irving Res 159 Irving Res* O 68 IsoEnergy Ltd V 850 O 19 Itafos* V 83 Itafos Itoco Mg Corp* O 0 O 404 Ivanhoe Mines* Ivanhoe Mines T 5558 Jade Leader* O 18 Jade Leader V 24 Jaguar Mng T 827 Jaguar Mng* O 9 Japan Gold* O 39 Japan Gold V 63 Jasper Mng V 25 Jaxon Mining* O 60 Jaxon Mining V 292 Jayden Res V 379 Jayden Res* O 0 Jazz Res V 7 JDF Explor Inc 3 V 369 Jiminex Jiulian Res V 500 Jourdan Res V 542 O 10 Jubilee Metals* Juggernaut Exp V 2237 K2 Gold V 191 K92 Mng Inc* O 420 K92 Mng Inc V 1143 V 537 Kaizen Discov Kaizen Discvry* O 16 V 65 Kapuskasing Gd Karmin Expl V 34 Karnalyte Res T 120 Karoo Expl V 328 KAT Expl* O 12006 Katanga Mng T 4454 Kenadyr Mining V 615 O 31 Kenadyr Mining* Kermode Res V 187 Kerr Mines* O 117 Kerr Mines T 1219 Kesselrun Res* O 64 V 77 Kesselrun Res Kestrel Gold V 826 Khan Res 337 O 9 Kilo Goldmines* Kilo Goldmines V 2364 O 30 Kincora Copper* V 692 Kincora Copper Kings Bay Res* O 13 335 Kings Bay Res V Kingsmen Res V 128 O 49 Kingsmen Res* O 1 Kingsrose Mng* Kinross Gold* N 42132 15786 Kinross Gold T Kintavar Exp V 305 Kirkland Lake* N 2570 Kirkland Lake T 2589 Kitrinor Mtls V 905 Kivalliq Enrgy V 488

0.21 0.21 0.21 unch 0.00 0.42 0.18 0.27 0.25 0.25 + 0.01 0.56 0.24 7.90 7.56 7.75 - 0.03 8.87 5.64 6.19 5.89 6.01 - 0.09 7.25 4.19 0.11 0.09 0.10 + 0.01 0.43 0.04 0.09 0.07 0.08 + 0.00 0.28 0.03 0.06 0.04 0.05 - 0.01 0.12 0.04 0.07 0.07 0.07 - 0.01 0.16 0.06 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.16 0.16 0.16 unch 0.00 0.25 0.05 0.09 0.08 0.09 unch 0.00 0.18 0.04 0.44 0.37 0.40 - 0.07 0.67 0.26 1.49 0.00 1.40 - 0.08 4.10 1.41 1.92 1.81 1.83 - 0.06 5.51 1.80 0.11 0.09 0.11 + 0.02 0.27 0.05 0.06 0.04 0.06 unch 0.00 0.10 0.04 0.07 0.06 0.06 - 0.01 0.14 0.06 0.00 0.00 0.18 unch 0.00 0.44 0.11 0.07 0.06 0.06 - 0.02 0.17 0.06 0.10 0.08 0.10 + 0.01 0.23 0.08 0.02 0.01 0.02 unch 0.00 0.03 0.01 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.12 0.10 0.12 + 0.02 0.34 0.07 0.16 0.14 0.15 + 0.02 0.45 0.12 0.18 0.18 0.18 unch 0.00 0.39 0.07 0.12 0.08 0.10 - 0.03 0.20 0.02 0.04 0.04 0.04 - 0.00 0.20 0.01 0.07 0.06 0.06 + 0.01 0.27 0.01 0.53 0.50 0.53 unch 0.00 0.53 0.08 0.94 0.79 0.90 + 0.10 0.94 0.15 0.76 0.70 0.70 - 0.04 1.83 0.05 0.95 0.90 0.92 - 0.03 1.40 0.85 0.40 0.37 0.40 + 0.02 0.59 0.20 0.29 0.28 0.28 unch 0.00 0.35 0.19 0.10 0.10 0.10 unch 0.00 0.10 0.05 0.47 0.43 0.44 - 0.01 0.47 0.12 0.60 0.52 0.60 + 0.02 0.62 0.08 0.00 0.00 0.00 - 0.00 0.00 0.00 0.36 0.31 0.33 + 0.00 1.11 0.15 0.46 0.39 0.41 - 0.01 1.38 0.26 0.08 0.08 0.08 - 0.01 0.17 0.03 0.14 0.13 0.13 + 0.01 0.31 0.12 0.19 0.16 0.17 unch 0.00 0.45 0.08 0.04 0.00 0.04 unch 0.00 0.08 0.03 0.07 0.05 0.06 - 0.01 0.18 0.05 0.09 0.08 0.08 - 0.01 0.23 0.07 0.03 0.03 0.03 unch 0.00 0.04 0.01 0.05 0.05 0.05 - 0.01 0.13 0.03 0.25 0.20 0.20 unch 0.00 0.28 0.05 0.30 0.26 0.29 + 0.03 0.36 0.04 0.03 0.03 0.03 unch 0.00 0.12 0.03 0.04 0.00 0.04 + 0.01 0.15 0.03 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.69 0.61 0.69 + 0.06 0.78 0.29 0.86 0.80 0.86 + 0.04 0.99 0.38 0.38 0.29 0.37 + 0.07 0.93 0.25 0.28 0.24 0.28 + 0.04 0.72 0.20 5.31 4.12 4.88 + 0.76 5.31 2.03 0.39 0.39 0.39 unch 0.00 0.80 0.38 0.60 0.54 0.58 + 0.04 1.07 0.51 0.13 0.12 0.12 - 0.01 0.31 0.11 0.17 0.15 0.16 unch 0.00 0.39 0.13 0.12 0.11 0.11 - 0.01 0.24 0.10 0.10 0.09 0.09 - 0.00 0.19 0.07 0.15 0.09 0.14 - 0.02 0.32 0.09 0.13 0.12 0.13 + 0.02 0.21 0.07 0.10 0.10 0.10 unch 0.00 0.12 0.06 1.35 1.24 1.34 - 0.01 1.54 0.60 1.07 0.00 1.04 + 0.04 1.24 0.09 0.35 0.28 0.30 - 0.03 1.00 0.26 2.08 1.95 2.06 + 0.05 2.25 0.97 2.68 0.00 2.61 + 0.18 2.90 1.14 0.05 0.00 0.05 + 0.01 1.20 0.05 2.67 2.49 2.64 + 0.10 4.04 1.90 3.46 3.18 3.44 + 0.23 5.05 2.50 0.25 0.25 0.25 unch 0.00 0.38 0.05 0.34 0.00 0.29 - 0.05 0.50 0.04 0.40 0.36 0.39 - 0.01 0.45 0.22 0.30 0.00 0.29 - 0.02 0.34 0.18 0.18 0.15 0.15 - 0.03 0.30 0.15 0.22 0.20 0.20 - 0.01 0.39 0.18 0.10 0.10 0.10 unch 0.00 0.18 0.06 0.11 0.11 0.11 + 0.00 0.27 0.08 0.15 0.13 0.14 + 0.01 0.41 0.10 0.19 0.16 0.16 - 0.03 0.38 0.07 0.00 0.00 0.07 unch 0.00 0.30 0.05 0.06 0.06 0.06 unch 0.00 0.09 0.06 0.05 0.05 0.05 - 0.05 0.15 0.01 0.09 0.07 0.07 unch 0.00 0.28 0.05 0.06 0.06 0.06 unch 0.00 0.08 0.02 0.09 0.06 0.06 - 0.02 0.20 0.04 0.04 0.04 0.04 unch 0.00 0.06 0.04 0.35 0.25 0.30 + 0.06 0.59 0.10 0.27 0.24 0.26 unch 0.00 0.56 0.18 0.64 0.55 0.60 + 0.01 0.86 0.31 0.82 0.71 0.78 + 0.03 1.06 0.41 0.09 0.00 0.08 - 0.01 0.20 0.06 0.06 0.06 0.06 + 0.00 0.15 0.05 0.03 0.00 0.03 + 0.01 0.06 0.02 1.05 0.94 1.00 - 0.03 1.50 0.32 0.43 0.38 0.38 - 0.01 0.75 0.37 0.75 0.00 0.74 unch 0.00 1.10 0.01 0.00 0.00 0.00 - 0.00 0.00 0.00 1.13 0.95 0.98 + 0.05 2.83 0.40 0.18 0.17 0.17 - 0.01 0.59 0.10 0.13 0.13 0.13 - 0.01 0.80 0.08 0.03 0.02 0.02 unch 0.00 0.03 0.01 0.19 0.16 0.17 - 0.02 0.34 0.12 0.25 0.21 0.21 - 0.03 0.41 0.17 0.10 0.08 0.08 - 0.02 0.17 0.06 0.14 0.12 0.12 - 0.02 0.23 0.08 0.04 0.03 0.03 - 0.01 0.19 0.03 0.09 0.08 0.09 unch 0.00 0.18 0.05 0.03 0.02 0.03 + 0.01 0.06 0.02 0.03 0.03 0.03 + 0.01 0.07 0.03 0.11 0.11 0.11 unch 0.00 0.32 0.10 0.14 0.11 0.12 - 0.02 0.44 0.12 0.05 0.05 0.05 unch 0.00 0.12 0.05 0.08 0.08 0.08 unch 0.00 0.16 0.06 0.25 0.17 0.25 unch 0.00 0.25 0.10 0.13 0.13 0.13 - 0.07 0.20 0.07 0.29 0.29 0.29 unch 0.00 0.34 0.27 3.79 3.50 3.59 - 0.15 4.91 3.48 4.82 4.48 4.64 - 0.13 6.29 4.44 0.44 0.37 0.44 + 0.08 0.65 0.10 19.66 18.03 19.54 + 0.09 19.83 7.18 25.23 23.33 25.12 + 0.29 25.36 9.65 4.17 3.90 4.10 + 0.13 8.61 1.01 0.08 0.08 0.08 unch 0.00 0.13 0.07

I-J-K

(100s) Stock

Week

21

12-month

Exc Volume High Low Last Change High Low

Klondex Mines T 3378 Klondike Gold V 592 Klondike Gold* O 209 Klondike Silv V 155 Klondike Silv* O 4 Knick Expl V 4065 V 214 Kombat Copper Kombat Copper* O 0 V 127 Komet Resource Kootenay Silvr* O 414 V 959 Kootenay Silvr Kootenay Zinc 853 Kootenay Zinc* O 60 60 Kutcho Copper * O KWG Res* O 29 KWG Res 972

3.24 3.12 3.18 + 0.01 5.03 1.66 0.25 0.24 0.24 - 0.01 0.60 0.22 0.20 0.18 0.18 - 0.00 0.49 0.17 0.07 0.07 0.07 - 0.01 0.10 0.04 0.06 0.05 0.06 + 0.00 0.08 0.02 0.03 0.01 0.02 - 0.01 0.08 0.02 0.25 0.23 0.23 - 0.02 0.49 0.21 0.00 0.00 0.27 unch 0.00 0.34 0.19 0.36 0.34 0.34 - 0.01 0.48 0.31 0.13 0.11 0.13 - 0.00 0.24 0.11 0.16 0.15 0.16 unch 0.00 0.31 0.15 0.18 0.16 0.17 unch 0.00 2.00 0.12 0.14 0.11 0.14 + 0.03 2.25 0.07 0.49 0.39 0.44 + 0.01 0.84 0.22 0.01 0.01 0.01 + 0.00 0.02 0.01 0.02 0.01 0.02 - 0.01 0.03 0.01

La Imperial 50 33 Labdr Iron Mns* O Labrador Gold V 228 O 0 Labrador Gold* Labrador Iron T 598 Lara Expl V 114 Laramide Res T 847 Laredo Res* O 8871 Largo Res T 1140 Largo Res* O 253 Lateral Gold V 66 163 Latin Am Mnls V Latin Am Mnls* O 5 Laurion Mnl Ex* O 160 Laurion Mnl Ex V 871 22 Le Mare Gold* O Lead Ventures 9 LeadFX Inc* O 0 O 181 Leading Edge* Leading Edge V 121 Leagold Mg* O 282 Leagold Mg T 1857 Leeta Gold V 3736 Legion Metals 125 Lepanto Con Mg* O 2500 160 Levon Res Ltd T 93 Levon Res Ltd * O Libero Copper* O 453 V 113 Libero Copper Liberty Gold* O 268 189 Liberty One Li V Liberty One Li* O 762 LiCo Energy* O 1899 LiCo Energy V 2197 Lincoln Mng V 956 132 Lion One Mtls V 78 Lion One Mtls* O Lions Bay Cap V 49 50 Lions Gate Mtl* O Lithion Energy* O 5 Lithium Amer* N 1648 Lithium Amer T 2178 Lithium Chile V 171 Lithium Chile* O 4 Lithium Corp* O 1544 O 72 Lithium Energi* V 263 Lithium Energi Lithium Energy V 15 Lithium Expl* O 1637 Lithoquest Dia V 320 O 0 Lithoquest Dia* LKA Gold* O 40 Lomiko Mtls* O 95 Lomiko Mtls V 778 Loncor Res* O 1 Loncor Res T 202 Lone Star Gold* O 443 Lonmin plc* O 0 Lonmin plc* O 17 Lorraine Coppr* O 1 V 60 Lorraine Coppr 345 Los Andes Copp V Lovitt Res V 17 LSC Lithium* O 9 Lucara Diam T 1086 Lucky Mnls V 691 Lucky Mnls * O 240 Lumina Gold V 290 Lumina Gold* O 274 Lund Enterpr V 13 Lundin Gold T 131 Lundin Mng T 9654 Lupaka Gold V 104 Lydian Intl* O 591 Lydian Intl T 2579 Lynas Corp* O 1470 Lynas Corp* O 278

0.07 0.07 0.07 unch 0.00 0.08 0.04 0.01 0.01 0.01 unch 0.00 0.10 0.00 0.28 0.24 0.25 - 0.05 0.35 0.04 0.00 0.00 0.17 unch 0.00 0.18 0.04 21.93 20.59 21.15 + 0.27 28.55 15.10 0.65 0.62 0.64 - 0.01 0.99 0.50 0.43 0.34 0.35 - 0.01 0.55 0.23 0.02 0.01 0.01 - 0.00 0.03 0.00 1.98 1.81 1.83 - 0.11 2.03 0.34 1.55 1.43 1.43 - 0.11 1.61 0.26 0.73 0.60 0.73 + 0.13 1.08 0.55 0.07 0.07 0.07 - 0.01 0.16 0.07 0.05 0.05 0.05 unch 0.00 0.12 0.05 0.06 0.05 0.06 + 0.01 0.06 0.01 0.08 0.07 0.08 unch 0.00 0.08 0.01 0.10 0.09 0.09 - 0.01 3.40 0.03 0.19 0.19 0.19 unch 0.00 0.60 0.06 0.82 0.00 0.82 - 0.29 1.57 0.48 0.59 0.54 0.55 - 0.03 0.80 0.38 0.74 0.70 0.70 - 0.03 1.01 0.51 2.46 2.12 2.43 + 0.22 2.80 1.76 3.17 2.76 3.11 + 0.30 3.48 2.27 1.34 1.22 1.24 - 0.06 6.75 0.17 0.12 0.11 0.12 + 0.01 0.21 0.08 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.26 0.24 0.24 - 0.01 0.41 0.21 0.21 0.18 0.19 + 0.00 0.34 0.16 0.11 0.09 0.09 unch 0.00 0.19 0.05 0.11 0.10 0.10 - 0.01 0.15 0.07 0.32 0.30 0.30 - 0.01 0.44 0.27 0.39 0.36 0.38 - 0.03 2.49 0.36 0.32 0.27 0.29 - 0.02 1.95 0.27 0.05 0.03 0.04 - 0.00 0.90 0.03 0.06 0.05 0.05 unch 0.00 0.20 0.05 0.03 0.02 0.03 unch 0.00 0.06 0.02 0.64 0.56 0.56 - 0.08 0.79 0.45 0.51 0.43 0.46 - 0.04 0.63 0.36 0.12 0.10 0.12 + 0.01 0.25 0.10 0.10 0.10 0.10 - 0.02 0.42 0.08 0.07 0.07 0.07 unch 0.00 0.12 0.05 6.87 5.36 6.45 + 0.98 10.95 3.08 8.85 6.92 8.32 + 1.33 14.06 3.90 0.94 0.85 0.85 - 0.05 1.35 0.42 0.89 0.69 0.69 - 0.02 0.90 0.66 0.31 0.24 0.31 + 0.02 0.62 0.05 0.29 0.21 0.21 - 0.03 0.75 0.07 0.34 0.29 0.31 - 0.01 0.97 0.07 0.47 0.44 0.44 - 0.07 1.50 0.36 0.03 0.02 0.03 + 0.00 0.13 0.02 0.53 0.50 0.50 - 0.02 0.88 0.22 0.00 0.00 0.41 unch 0.00 0.51 0.29 0.13 0.12 0.13 - 0.00 0.61 0.11 0.05 0.04 0.04 + 0.00 0.24 0.03 0.06 0.05 0.05 - 0.01 0.31 0.05 0.06 0.06 0.06 + 0.00 0.14 0.05 0.09 0.08 0.08 unch 0.00 0.20 0.08 0.01 0.00 0.01 + 0.00 0.03 0.00 0.00 0.00 0.76 unch 0.00 1.37 0.76 0.71 0.00 0.71 + 0.05 1.41 0.66 0.10 0.10 0.10 unch 0.00 0.12 0.05 0.14 0.13 0.13 - 0.02 0.19 0.06 0.31 0.27 0.30 unch 0.00 0.47 0.20 0.04 0.04 0.04 unch 0.00 0.10 0.02 0.65 0.59 0.64 + 0.04 1.31 0.55 2.08 2.01 2.04 + 0.03 3.11 1.97 0.11 0.10 0.11 - 0.01 0.23 0.09 0.09 0.09 0.09 unch 0.00 0.18 0.08 0.81 0.75 0.78 - 0.01 0.85 0.60 0.64 0.58 0.60 - 0.03 0.67 0.46 0.14 0.14 0.14 + 0.01 0.24 0.09 5.14 4.95 5.12 - 0.07 6.50 4.07 8.80 8.39 8.51 - 0.04 10.22 6.62 0.23 0.21 0.23 unch 0.00 0.29 0.11 0.29 0.27 0.28 unch 0.00 0.50 0.23 0.38 0.35 0.37 + 0.01 0.63 0.31 1.91 1.70 1.74 - 0.28 2.20 0.06 1.90 1.69 1.72 - 0.29 2.20 0.51

L

M M.P.V. Explor 41 0.20 0.16 0.16 - 0.02 0.30 0.18 V 2057 0.06 0.05 0.05 - 0.01 0.12 0.05 Macarthur Mnl Macarthur Mnl* O 16 0.04 0.03 0.04 + 0.01 0.10 0.03 O 19 0.06 0.06 0.06 - 0.01 0.16 0.05 MacDonald Mns* MacDonald Mns V 268 0.08 0.07 0.08 + 0.01 0.24 0.07 V 248 1.54 1.33 1.43 - 0.11 1.90 1.24 MacMillan Mnls 11.71 MAG Silver T 770 14.91 13.95 14.88 + 0.68 17.62 Magellan Gold* O 52 0.02 0.02 0.02 - 0.00 0.19 0.01 unch 0.00 0.09 0.04 Magna Terra V 7 0.05 0.00 0.05 Magna Terra* O 13 0.03 0.03 0.03 unch 0.00 0.06 0.03 unch 0.00 0.01 0.00 Magnus Intl* O 0 0.00 0.00 0.00 O 33 0.05 0.04 0.05 + 0.01 0.06 0.03 Majestic Gold* Majestic Gold V 2132 0.06 0.05 0.06 + 0.01 0.09 0.04 unch 0.00 0.15 0.06 Makena Res* O 3 0.06 0.06 0.06 Makena Res 3 0.00 0.00 0.09 unch 0.00 0.24 0.08 V 142 0.07 0.06 0.07 + 0.01 0.16 0.05 Mammoth Res unch 0.00 0.24 0.05 Manado Gold V 155 0.05 0.05 0.05 Mandalay Res T 575 0.24 0.22 0.23 + 0.01 0.63 0.19 O 210 0.18 0.17 0.18 + 0.01 0.47 0.14 Mandalay Res* Manganese X* O 288 0.13 0.12 0.12 - 0.01 0.21 0.07 0.08 Manganese X V 139 0.18 0.00 0.17 - 0.01 0.28 V 20 0.02 0.02 0.02 - 0.01 0.04 0.02 Mangazeya Mng Manitou Gold V 69 0.10 0.09 0.09 - 0.01 0.19 0.05 0.19 Maple Gold V 2489 0.27 0.22 0.24 - 0.03 0.34 Maple Gold* O 1094 0.22 0.17 0.19 - 0.03 0.27 0.15 O 1004 0.95 0.80 0.81 - 0.00 1.14 0.65 Marathon Gold* T 2763 1.20 1.03 1.03 - 0.01 1.28 0.85 Marathon Gold Margaret Lake* O 25 0.12 0.10 0.10 - 0.02 0.12 0.08 V 595 0.13 0.12 0.13 - 0.01 0.16 0.05 Margaret Lake Margaux Red V 692 0.20 0.16 0.19 + 0.03 0.22 0.10 O 168 0.17 0.01 0.06 unch 0.00 0.27 0.01 Margaux Res* 0.12 Margaux Res V 62 0.24 0.12 0.20 - 0.04 0.35 Marifil Mines* O 10 0.13 0.01 0.01 - 0.12 0.17 0.01 0.11 Marifil Mines V 28 0.16 0.15 0.15 - 0.01 0.32 Maritime Res V 833 0.12 0.11 0.12 + 0.01 0.14 0.09 0.23 Marlin Gold V 871 0.38 0.23 0.29 - 0.08 1.15 MartinMarietta* N 3012 220.71 211.77 219.31 + 3.86 241.33 189.27 Mas Gold V 26 0.11 0.11 0.11 unch 0.00 0.15 0.05 O 500 1.42 1.31 1.32 - 0.07 2.47 1.04 Mason Graphite* Mason Graphite V 804 1.81 1.68 1.70 - 0.07 3.15 1.45 0.01 Mason Res* O 47 0.15 0.00 0.14 - 0.01 0.29 0.15 Mason Res T 288 0.19 0.16 0.17 - 0.01 0.35 Matachewan Con V 4 0.28 0.00 0.22 - 0.07 0.34 0.21 V 649 0.04 0.03 0.03 - 0.01 0.07 0.03 Matamec Expl Matamec Expl* O 10 0.03 0.02 0.03 + 0.01 0.04 0.02 0.03 Matica Ent* O 35 0.21 0.16 0.19 - 0.00 0.64 0.04 Matica Ent 11162 0.27 0.21 0.24 + 0.01 0.81 Maudore Mnrls* O 125 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.92 Maverix Mtls* O 207 1.25 1.03 1.11 - 0.11 1.50 Mawson Res T 143 0.35 0.30 0.32 + 0.01 0.65 0.29 0.23 Mawson Res* O 39 0.27 0.24 0.25 + 0.00 0.48 0.06 MAX Res V 299 0.20 0.17 0.17 - 0.01 0.32 MaxTech Vent* O 345 0.31 0.25 0.25 - 0.03 0.48 0.13 0.14 MaxTech Vent 136 0.40 0.32 0.32 - 0.07 0.60 Maxwell Res* O 34 0.01 0.01 0.01 - 0.00 0.02 0.00 41 1.97 1.74 1.89 - 0.02 2.35 0.37 Maya Gold &Sil* O 177 2.60 2.18 2.30 - 0.30 3.02 0.50 Maya Gold &Sil V Mazarin V 10 0.12 0.08 0.12 + 0.07 0.18 0.04 unch 0.00 0.09 0.00 MBMI Res* O 8 0.01 0.01 0.01 MBMI Res V 17 0.04 0.04 0.04 unch 0.00 0.13 0.03 0.37 McChip Res V 43 0.55 0.52 0.52 - 0.03 0.87 2.33 McEwen Mng T 685 2.85 2.65 2.82 - 0.04 4.05 McEwen Mng* N 7962 2.24 2.06 2.19 - 0.05 2.98 1.82 unch 0.00 0.19 0.03 McLaren Res 172 0.09 0.05 0.07 MDN Inc* O 7 0.21 0.18 0.19 - 0.03 0.44 0.09 326 0.20 0.14 0.15 - 0.02 0.26 0.11 Meadow Bay Gd 0.12 0.11 0.11 - 0.01 0.28 0.04 Meadow Bay Gd* O 105 Mechel* N 425 3.74 3.58 3.67 + 0.02 5.80 3.30 V 185 0.10 0.10 0.10 - 0.01 0.21 0.09 Medallion Res Medallion Res* O 73 0.08 0.07 0.08 - 0.01 0.17 0.07 0.13 Medgold Res V 331 0.27 0.22 0.27 + 0.04 0.25 O 43 0.18 0.00 0.18 + 0.02 0.19 0.12 Medgold Res* Medinah Mnrls* O 15037 0.00 0.00 0.00 + 0.00 0.01 0.00 unch 0.00 0.18 0.16 Mega Copper V 6 0.18 0.18 0.18 Mega Uranium T 522 0.15 0.14 0.15 unch 0.00 0.24 0.13

2018-05-22 11:08 AM

22

WWW.NORTHERNMINER.COM

MAY 28–JUNE 10, 2018 / THE NORTHERN MINER

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

Week

12-month

Exc Volume High Low Last Change High Low

Mega Uranium* O 175 Megastar Dev V 146 Melior Res V 193 Melkior Res V 283 Meridian Mg V 71 0 Meridian Mg * O Meryllion Res* O 13 Meryllion Res 119 Mesa Expl* O 210 Mesa Expl V 250 MetalCorp V 16 Metalex Vent V 212 Metallic Mnrls* O 64 Metallic Mnrls V 56 Metallis Res V 155 Metalo Manuf 29 Metalore Res* O 3 Metalore Res V 76 Metals Creek* O 125 Metals Creek V 126 Metals X* O 7 Metanor Res* O 237 Metanor Res V 256 V 0 Metron Capital O 86 Mexican Gold* Mexus Gold* O 5156 V 300 Mezzotin Mnrls MGX Minerals 3804 O 4018 MGX Minerals* Midas Gold T 1686 Midas Gold* O 1660 Midland Expl V 38 Midnight Sun V 233 Millennial Lit* O 448 Millennial Lit V 1061 Millrock Res* O 81 Millrock Res V 204 60 Milner Con Slv V V 864 Minaurum Gold Minco Silver T 52 Minco Silver* O 48 Minera Alamos * O 296 Minera Alamos V 1477 Minera IRL 343 Mineral Hill V 45 Mineral Mtn* O 161 Mineral Mtn V 537 Mineral Res* O 0 MineralRite* O 5000 Mineworx Tech V 633 O 293 Mineworx Tech* V 326 Minfocus Expl Mining Global* O 588888 Minnova Corp V 176 Minsud Res V 25 O 33 Miramont Res* Miramont Res 484 Miranda Gold V 474 Mirasol Res V 210 Mistango River 28 MK2 Ventures V 75 Mkango Res V 241 ML Gold* O 34 ML Gold Corp V 1507 O 3 Monarca Mnrls* Monarca Mnrls V 9 V 857 Monarques Res O 80 Monarques Res* O 315 Moneta Porcpn* Moneta Porcpn T 1323 Monitor Vent* O 1 Monitor Vent V 1 Montan Mg V 14 Montan Mg* O 0 Montego Res 1529 Montero Mg&Ex V 106 V 481 Monument Mng Morien Res* O 8 Morien Res V 36 Morumbi Res* O 16 Morumbi Res T 633 N 22836 Mosaic* Mount Gibson * O 1 O 900 Mountain Boy* Mountain Boy V 483 Mountain Lake 326 D 125 Mountain Prov* T 1266 Mountain Prov O 70 Mundoro Cap* Mundoro Cap V 424 V 88 Murchison Min O 9 Mustang Mnrls* Mustang Mnrls V 167 MX Gold* O 122

0.12 0.10 0.11 + 0.00 0.19 0.10 0.10 0.05 0.09 - 0.02 0.11 0.03 0.12 0.10 0.11 - 0.02 0.15 0.03 0.05 0.04 0.04 unch 0.00 0.09 0.04 0.45 0.40 0.40 unch 0.00 1.39 0.19 0.00 0.00 0.17 unch 0.00 0.56 0.17 0.01 0.01 0.01 unch 0.00 0.07 0.00 0.03 0.02 0.03 unch 0.00 0.21 0.02 0.06 0.04 0.06 + 0.02 0.07 0.02 0.07 0.06 0.07 + 0.01 0.08 0.03 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.05 0.00 0.05 unch 0.00 0.10 0.04 0.26 0.22 0.25 - 0.01 0.40 0.19 0.33 0.29 0.32 - 0.02 0.50 0.22 1.52 1.32 1.34 - 0.08 2.75 0.14 0.49 0.30 0.30 - 0.04 0.75 0.23 0.00 0.00 1.67 unch 0.00 2.81 1.16 1.80 1.77 1.77 unch 0.00 4.45 1.77 0.04 0.03 0.03 - 0.01 0.08 0.03 0.06 0.05 0.06 + 0.01 0.10 0.05 0.72 0.65 0.68 - 0.01 0.96 0.51 0.45 0.42 0.43 - 0.00 0.75 0.38 0.57 0.53 0.53 + 0.01 0.99 0.48 0.00 0.00 0.07 unch 0.00 0.08 0.05 0.30 0.27 0.28 - 0.03 0.34 0.18 0.02 0.02 0.02 - 0.00 0.09 0.01 0.01 0.01 0.01 unch 0.00 0.04 0.01 1.11 0.87 1.10 + 0.24 1.96 0.75 0.86 0.67 0.85 + 0.18 1.58 0.60 1.21 1.09 1.15 - 0.01 1.21 0.55 0.95 0.85 0.89 - 0.00 0.95 0.42 1.04 0.95 0.95 - 0.05 1.17 0.82 0.31 0.28 0.30 - 0.01 0.54 0.21 2.25 1.65 2.10 + 0.44 3.87 0.88 2.90 2.12 2.70 + 0.57 4.80 1.20 0.19 0.17 0.18 - 0.00 0.35 0.15 0.24 0.22 0.23 - 0.01 0.44 0.21 0.08 0.08 0.08 unch 0.00 0.09 0.04 0.53 0.47 0.52 + 0.06 0.67 0.21 0.76 0.69 0.73 + 0.02 1.74 0.58 0.60 0.56 0.56 unch 0.00 1.23 0.46 0.11 0.09 0.10 - 0.01 0.18 0.08 0.14 0.12 0.12 - 0.01 0.24 0.12 0.09 0.08 0.08 unch 0.00 0.17 0.06 0.24 0.21 0.21 - 0.03 0.34 0.17 0.28 0.25 0.27 - 0.02 0.60 0.13 0.36 0.31 0.33 - 0.01 0.74 0.15 13.30 13.30 13.30 unch 0.00 16.78 7.55 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.20 0.17 0.18 unch 0.00 0.40 0.05 0.16 0.13 0.14 - 0.01 0.33 0.05 0.02 0.01 0.02 unch 0.00 0.06 0.01 0.00 0.00 0.00 - 0.00 0.00 0.00 0.83 0.79 0.80 - 0.05 0.93 0.55 0.08 0.08 0.08 unch 0.00 0.21 0.06 0.31 0.28 0.28 - 0.01 0.33 0.21 0.40 0.33 0.36 + 0.01 0.65 0.25 0.05 0.05 0.05 unch 0.00 0.09 0.05 2.04 1.88 2.00 + 0.12 2.60 1.42 0.04 0.00 0.04 unch 0.00 0.07 0.01 0.18 0.00 0.15 - 0.02 0.18 0.09 0.15 0.13 0.15 + 0.02 0.24 0.04 0.09 0.08 0.09 + 0.00 0.26 0.08 0.11 0.09 0.11 - 0.01 0.32 0.10 0.03 0.03 0.03 unch 0.00 0.14 0.03 0.05 0.00 0.05 - 0.01 0.17 0.04 0.31 0.28 0.28 - 0.01 0.47 0.25 0.24 0.21 0.21 - 0.03 0.38 0.19 0.10 0.09 0.09 - 0.01 0.17 0.10 0.14 0.12 0.13 - 0.01 0.23 0.13 0.16 0.00 0.16 - 0.01 0.81 0.13 0.00 0.00 0.23 unch 0.00 1.13 0.22 0.05 0.00 0.05 - 0.01 0.17 0.03 0.00 0.00 0.04 unch 0.00 0.04 0.01 0.20 0.13 0.20 + 0.01 0.55 0.13 0.25 0.25 0.25 unch 0.00 0.49 0.12 0.07 0.07 0.07 - 0.01 0.09 0.06 0.48 0.45 0.47 + 0.01 0.60 0.37 0.60 0.58 0.58 unch 0.00 0.77 0.47 0.87 0.80 0.87 + 0.04 0.96 0.45 1.15 1.03 1.15 + 0.10 1.23 0.59 28.24 26.72 27.91 + 1.35 29.20 19.23 0.33 0.33 0.33 unch 0.00 0.34 0.20 0.06 0.06 0.06 + 0.02 0.09 0.03 0.08 0.07 0.08 + 0.02 0.11 0.05 0.05 0.04 0.04 - 0.01 0.09 0.02 2.80 2.50 2.75 + 0.20 4.10 2.35 3.60 3.24 3.59 + 0.35 5.10 2.97 0.10 0.08 0.10 + 0.01 0.22 0.06 0.12 0.11 0.11 - 0.01 0.30 0.09 0.18 0.00 0.15 - 0.03 0.25 0.14 0.14 0.12 0.13 - 0.02 0.37 0.07 0.19 0.00 0.18 unch 0.00 0.52 0.10 0.04 0.03 0.03 - 0.01 0.17 0.01

NA Frac Sand* O 335 NACCO Ind* N 69 Namibia Rare E V 226 89 Namibia Rare E* O Napier Vent V 10 Natural Res Pt* N 144 T 452 Nautilus Mnrls O 540 Nautilus Mnrls* 0 Navis Res Corp Navy Res V 50 Nemaska Lith T 8723 O 1206 Nemaska Lith* Neo Lithium V 654 Neometals* O 24 O 7 Network Expl* Network Expl V 205 O 75 Nevada Canyon* 74 Nevada Clean M* O 102 Nevada Clean M V Nevada Copper T 774 O 100 Nevada Energy* V 25 Nevada Energy Nevada Expl * O 137 Nevada Expl V 140 O 22 Nevada Sunrise* Nevada Sunrise V 54 Nevada Zinc V 569 Nevado Res V 40 Nevsun Res T 6907 Nevsun Res* X 4077 New Age Metals V 3632 New Age Metals* O 339 New Carolin Gd* O 63 230 New Carolin Gd V 144 New Destiny Mg V New Dimen Res V 135 3 New Dimen Res* O 134 New Energy Met V 32 New Energy Met* O New Gold* X 23989 New Gold T 4724 New Guinea Gld* O 620 New Jersey Mng* O 229 890 New Milln Iron T New Nadina V 30 New Nadina* O 28 New Oroperu V 8 New Pac Metals V 1194 New Pac Metals* O 143 New Point Expl 647 New Stratus V 150 8 New Tech Lith* O New Tech Lith 1929 53 New World Res V Newlox Gold 160 Newmac Res V 22 N 18090 Newmont Mng* Newport Expl V 429 O 20 Newport Gold* NewRange Gold* O 49 V 100 NewRange Gold T 3 Nexa Resources Nexa Resources* N 1178 Nexco Res 132 X 1823 Nexgen Energy* Nexgen Energy T 1320 T 1300 NextSource Mat Nexus Gold* O 14 Nexus Gold V 98 NGEx Res* O 3

0.01 0.01 0.01 + 0.00 0.09 0.01 36.65 34.60 35.55 + 0.45 48.85 14.45 0.30 0.28 0.30 + 0.02 0.38 0.04 0.24 0.22 0.23 + 0.01 2.77 0.03 0.46 0.45 0.45 unch 0.00 0.54 0.36 33.10 31.70 32.30 + 0.30 37.70 22.81 0.22 0.19 0.20 - 0.01 0.39 0.14 0.18 0.15 0.16 - 0.01 0.31 0.11 0.00 0.00 0.34 unch 0.00 2.00 0.33 0.21 0.21 0.21 unch 0.00 0.32 0.16 1.32 1.17 1.27 - 0.05 2.44 0.95 1.06 0.92 1.00 - 0.03 1.96 0.73 1.80 1.44 1.78 + 0.32 2.75 0.85 0.27 0.23 0.23 - 0.04 0.80 0.20 0.23 0.22 0.23 + 0.00 0.39 0.22 0.30 0.30 0.30 + 0.01 0.48 0.29 0.05 0.05 0.05 unch 0.00 0.22 0.05 0.03 0.02 0.03 + 0.00 0.08 0.02 0.04 0.03 0.03 - 0.01 0.08 0.03 0.71 0.65 0.67 - 0.01 0.84 0.41 0.17 0.07 0.16 - 0.02 0.70 0.07 0.25 0.00 0.25 + 0.04 0.80 0.20 0.22 0.19 0.21 + 0.01 0.35 0.18 0.29 0.25 0.26 + 0.01 0.46 0.23 0.13 0.11 0.12 - 0.01 0.27 0.09 0.17 0.15 0.15 - 0.01 0.35 0.12 0.19 0.17 0.18 + 0.01 0.35 0.16 0.04 0.04 0.04 unch 0.00 0.05 0.02 4.52 4.30 4.42 - 0.10 4.93 2.49 3.55 3.34 3.45 - 0.10 3.86 1.96 0.09 0.05 0.06 - 0.02 0.19 0.05 0.07 0.05 0.05 - 0.02 0.15 0.04 0.37 0.33 0.33 - 0.03 0.58 0.18 0.47 0.43 0.43 - 0.04 0.77 0.20 0.20 0.20 0.20 unch 0.00 0.35 0.11 0.30 0.24 0.27 - 0.02 0.30 0.09 0.22 0.00 0.22 + 0.18 0.06 0.02 0.68 0.46 0.53 - 0.14 0.90 0.26 0.50 0.00 0.42 - 0.07 0.60 0.42 2.39 2.27 2.32 - 0.03 4.25 2.22 3.05 2.90 2.99 + 0.01 5.16 2.85 0.00 0.00 0.00 + 0.00 0.00 0.00 0.20 0.17 0.19 - 0.03 0.22 0.11 0.09 0.00 0.07 - 0.01 0.17 0.07 0.20 0.19 0.19 - 0.01 4.60 0.08 0.15 0.15 0.15 unch 0.00 3.60 0.07 0.33 0.33 0.33 unch 0.00 0.55 0.28 1.55 1.49 1.50 - 0.02 1.67 1.12 1.21 1.15 1.21 + 0.01 1.29 0.80 0.38 0.31 0.38 + 0.06 0.38 0.11 0.34 0.25 0.34 + 0.04 0.48 0.08 0.05 0.00 0.05 + 0.02 0.19 0.03 0.08 0.05 0.06 + 0.01 0.17 0.04 0.26 0.23 0.23 - 0.02 0.29 0.10 0.05 0.04 0.05 + 0.01 0.08 0.03 0.07 0.07 0.07 unch 0.00 0.09 0.05 40.84 38.97 39.16 - 1.23 42.04 31.42 0.38 0.34 0.37 + 0.03 0.36 0.19 0.03 0.03 0.03 unch 0.00 0.08 0.00 0.20 0.16 0.20 + 0.01 0.59 0.05 0.26 0.23 0.26 + 0.02 0.75 0.21 22.68 21.67 21.71 - 0.89 26.70 19.80 17.39 16.56 16.94 - 0.44 21.61 15.27 0.23 0.20 0.20 - 0.05 0.50 0.15 2.03 1.85 1.90 - 0.10 2.85 1.65 2.57 2.37 2.45 - 0.10 3.58 2.12 0.13 0.12 0.12 + 0.01 0.22 0.06 0.25 0.22 0.25 - 0.00 0.25 0.02 0.33 0.31 0.31 - 0.01 2.55 0.19 0.85 0.78 0.78 - 0.03 1.10 0.58

N-O

20-23_MAY28_StockTables.indd 22

(100s) Stock

Week

(100s) Stock

12-month

Exc Volume High Low Last Change High Low

NGEx Res T 449 Nickel Creek T 191 Nickel Creek* O 205 62 Nickel North V 462 Nickel One Res V 558 Nicola Mg Inc V Nicola Mg Inc* O 9 O 109 Nighthawk Gold* T 685 Nighthawk Gold V 110 Niobay Metals Niocan Inc V 22 Niocorp Dev T 718 Niocorp Dev* O 1079 V 276 Nippon Dragon O 49 Nippon Dragon* Nitinat Mnls V 504 Nitinat Mnls* O 1 O 44 NKWE Platinum* 477 Noble Metal Gr V 20 Noble Mnl Expl* O 611 Noble Mnl Expl V Noka Res* O 603 Noram Vent V 94 Noram Vent* O 18 O 9 Noranda Alum* Noront Res V 936 Nortec Mnls V 31 Nortec Mnls* O 5 North Am Nickl* O 194 North Am Nickl V 4133 92 North Am Pall T 51 North Am Pall* O 3 North Arrow Mn* O 80 North Arrow Mn V Northcliff Res T 60 V 882 Northern Uran Northisle C&G V 7 V 1539 Northn Empire O 391 Northn Empire* Norvista Cap V 192 O 31 Nouveau Monde* V 2758 Nouveau Monde T 635 NovaGold Res X 5157 NovaGold Res* Novo Res* O 399 Novo Res V 643 NovX21* O 10 NRG Metals V 1774 NRG Metals* O 895 V 192 Nrthn Graphite O 159 Nrthn Graphite* Nrthn Lion V 2 Nrthn Lion* O 0 Nrthn Mnrls &E* O 302 Nrthn Shield V 84 O 6 Nrthn Superior* Nrthn Superior V 171 Nrthn Vertex* O 147 Nrthn Vertex V 392 V 3 NSGold 144 NSS Res Inc Nthn Dynasty T 2661 X 8671 Nthn Dynasty* Nthrn Sphere 305 O 129 Nthrn Sphere* Nubian Res V 188 NuLegacy Gold V 192 O 496 NuLegacy Gold* V 7 Nunavik Nickel T 9721 Nutrien N 8553 Nutrien* NV Gold* O 166 NV Gold V 457 NX Uranium* O 0 NxGold Ltd* O 42 NxGold Ltd V 915 Nyrstar NV* O 1 O.T. Mining* O 35 OceanaGold* O 21 OceanaGold T 9158 818 Oceanic Iron O V O 43 Oceanus Res* Oceanus Res V 150 Odyssey Res V 55 OK2 Minerals V 173 Olivut Res V 179 Olivut Res* O 109 20 Omineca Mg &Ml V 170 One World Lith Opawica Expl V 185 458 Opus One Res V Orbite Tech* O 170 Orca Gold V 289 Orca Gold* O 70 V 323 Orefinders Res Orestone Mng V 4 Orex Mnrls* O 1 Orex Mnrls V 48 O 70 Orezone Gold* Orezone Gold V 335 Orford Mining V 363 Organic Potash 426 O 1 Original Sixtn* 120 Orla Mng Ltd V 33 Orla Mng Ltd* O Oro East Mg* O 220 Oroco Res V 336 Oroco Res* O 83 Orocobre T 236 V 28 Oronova Energy Oroplata Res* O 7835 Orosur Mng T 1321 Orsu Metals V 53 Orsu Metals* O 4 Orvana Mnrls T 130 Orvana Mnrls* O 75 Osisko Gold T 1607 Osisko Gold* N 2379 V 519 Osisko Metals O 92 Osisko Metals* Osisko Mng Inc T 9399 Osprey Gold V 90 Otis Gold V 226 Otis Gold* O 61 OZ Minerals* O 1

1.03 0.95 1.02 - 0.01 1.49 0.75 0.25 0.22 0.25 + 0.03 0.41 0.22 0.20 0.18 0.18 - 0.00 0.33 0.18 0.05 0.03 0.03 - 0.02 0.07 0.02 0.04 0.04 0.04 unch 0.00 0.13 0.02 0.16 0.15 0.15 unch 0.00 0.25 0.15 0.13 0.11 0.11 - 0.01 0.18 0.11 0.47 0.41 0.41 - 0.08 0.97 0.41 0.60 0.53 0.54 - 0.07 1.15 0.53 0.26 0.24 0.26 + 0.02 0.65 0.11 0.07 0.07 0.07 - 0.01 0.18 0.06 0.65 0.52 0.65 + 0.10 0.87 0.37 0.51 0.40 0.49 + 0.06 0.65 0.29 0.04 0.04 0.04 + 0.01 0.08 0.04 0.04 0.03 0.03 + 0.00 0.06 0.02 0.16 0.12 0.12 - 0.04 0.51 0.04 0.11 0.11 0.11 - 0.16 0.36 0.03 0.06 0.05 0.06 + 0.00 2.04 0.00 0.03 0.01 0.03 + 0.01 0.04 0.01 0.10 0.09 0.09 - 0.01 0.15 0.03 0.12 0.11 0.11 - 0.01 0.19 0.04 0.46 0.33 0.37 - 0.05 0.46 0.05 0.25 0.18 0.24 - 0.03 0.80 0.18 0.19 0.14 0.18 + 0.00 0.64 0.14 0.05 0.04 0.04 unch 0.00 0.17 0.01 0.39 0.35 0.38 + 0.02 0.52 0.27 0.09 0.08 0.09 + 0.01 0.18 0.06 0.07 0.07 0.07 unch 0.00 0.14 0.05 0.06 0.05 0.06 + 0.01 0.08 0.04 0.08 0.07 0.07 unch 0.00 0.10 0.06 11.75 11.00 11.68 + 0.78 11.75 4.65 9.38 8.54 9.02 + 0.51 9.38 3.57 0.15 0.15 0.15 unch 0.00 0.23 0.15 0.20 0.19 0.20 - 0.01 0.31 0.18 0.11 0.00 0.10 - 0.01 0.22 0.09 0.02 0.01 0.02 unch 0.00 0.03 0.01 0.14 0.00 0.14 - 0.02 0.21 0.09 1.40 1.13 1.16 - 0.21 1.62 0.58 1.10 0.87 0.93 - 0.16 1.29 0.47 0.10 0.10 0.10 - 0.01 0.16 0.08 0.28 0.25 0.26 - 0.00 0.42 0.20 0.37 0.32 0.32 - 0.01 0.54 0.26 6.34 6.07 6.22 - 0.02 6.47 4.33 4.97 4.70 4.83 - 0.07 5.05 3.35 4.55 4.15 4.40 + 0.05 7.08 0.50 5.90 5.32 5.69 + 0.14 8.83 0.68 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.30 0.24 0.29 + 0.02 0.62 0.09 0.23 0.18 0.23 + 0.01 0.49 0.07 0.33 0.30 0.33 + 0.04 0.70 0.24 0.26 0.22 0.26 + 0.01 0.55 0.19 0.00 0.00 0.53 unch 0.00 0.67 0.31 0.00 0.00 0.16 unch 0.00 0.52 0.16 0.08 0.05 0.08 + 0.04 0.08 0.01 0.03 0.00 0.03 unch 0.00 0.09 0.02 0.03 0.00 0.03 + 0.00 0.05 0.02 0.04 0.04 0.04 - 0.01 0.07 0.03 0.36 0.31 0.35 + 0.02 0.58 0.31 0.45 0.40 0.45 + 0.01 0.70 0.40 0.11 0.11 0.11 + 0.01 0.15 0.02 0.30 0.21 0.24 + 0.06 1.39 0.05 1.06 0.84 0.85 - 0.22 2.99 0.84 0.84 0.66 0.67 - 0.15 2.34 0.66 0.11 0.08 0.10 - 0.01 0.45 0.05 0.08 0.06 0.07 - 0.02 0.24 0.05 0.28 0.23 0.28 unch 0.00 0.38 0.17 0.19 0.17 0.19 - 0.01 0.30 0.15 0.15 0.13 0.15 unch 0.00 0.23 0.12 0.11 0.11 0.11 unch 0.00 0.17 0.08 66.57 62.45 66.31 + 3.80 70.05 55.27 52.02 48.99 51.44 + 2.57 56.18 40.41 0.39 0.28 0.33 - 0.06 0.92 0.18 0.50 0.36 0.42 - 0.08 1.22 0.20 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.15 0.14 0.15 + 0.02 0.26 0.12 0.20 0.15 0.18 + 0.04 0.46 0.14 6.76 6.76 6.76 unch 0.00 8.25 6.15 0.06 0.06 0.06 unch 0.00 0.20 0.03 2.69 2.45 2.52 - 0.17 3.60 2.23 3.38 3.22 3.26 - 0.12 4.94 2.92 0.08 0.07 0.07 - 0.02 0.19 0.06 0.18 0.16 0.16 - 0.00 0.29 0.14 0.23 0.18 0.20 - 0.03 0.36 0.18 0.04 0.03 0.03 - 0.01 0.08 0.03 0.04 0.04 0.04 unch 0.00 0.14 0.04 0.09 0.07 0.08 unch 0.00 0.20 0.07 0.07 0.06 0.07 - 0.00 0.15 0.06 0.05 0.04 0.04 - 0.01 0.06 0.03 0.15 0.13 0.14 - 0.02 0.17 0.10 0.07 0.06 0.06 - 0.01 0.40 0.07 0.08 0.06 0.06 - 0.02 0.13 0.06 0.05 0.00 0.00 unch 0.00 0.15 0.00 0.64 0.62 0.62 - 0.02 0.78 0.36 0.52 0.47 0.49 - 0.01 0.63 0.27 0.12 0.10 0.11 - 0.01 0.17 0.05 0.13 0.12 0.13 + 0.01 0.13 0.05 0.11 0.11 0.11 unch 0.00 0.15 0.08 0.15 0.00 0.15 unch 0.00 0.18 0.10 0.66 0.60 0.65 + 0.03 0.82 0.41 0.85 0.77 0.83 + 0.04 1.02 0.56 0.25 0.24 0.24 unch 0.00 0.70 0.23 0.04 0.02 0.03 + 0.01 0.05 0.01 0.15 0.15 0.15 unch 0.00 0.15 0.00 1.43 1.22 1.22 - 0.13 1.85 1.04 1.08 0.96 0.96 - 0.02 1.48 0.88 0.00 0.00 0.00 - 0.00 0.01 0.00 0.30 0.23 0.23 - 0.06 0.31 0.02 0.23 0.00 0.19 - 0.04 0.24 0.02 5.88 5.22 5.79 + 0.45 7.36 3.04 0.12 0.11 0.12 + 0.01 0.22 0.09 0.36 0.14 0.15 - 0.17 0.42 0.06 0.07 0.06 0.06 - 0.01 0.30 0.06 0.19 0.00 0.19 unch 0.00 0.30 0.13 0.14 0.00 0.14 unch 0.00 0.22 0.11 0.22 0.20 0.21 - 0.01 0.33 0.17 0.17 0.15 0.16 - 0.00 0.25 0.14 13.60 12.85 13.13 - 0.39 17.58 11.90 10.66 10.02 10.18 - 0.40 14.39 9.31 0.58 0.52 0.52 - 0.08 1.74 0.39 0.44 0.00 0.43 - 0.07 1.33 0.39 2.82 2.01 2.27 - 0.48 5.12 2.01 0.08 0.07 0.07 - 0.01 0.44 0.06 0.28 0.24 0.25 - 0.03 0.37 0.17 0.21 0.19 0.20 - 0.00 0.29 0.13 7.70 0.00 7.70 + 0.43 7.80 5.18

Pac Bay Mnrls V 38 23 Pac Booker Min V 20 Pac Booker Min* O 174 Pac Iron Ore V 5 Pac Link Mng V Pac Potash* O 1 Pac Potash V 161 9 Pac Ridge Expl* O 78 Pac Ridge Expl V Pac Wildcat* O 80 V 209 Pacific Empire Pacific Rim 359 Pacific Rim* O 15 Pacton Gold V 6575 O 32 Paladin Energy* Palamina Corp V 22 O 35 Palamina Corp* O 0 Palladon Vent* Pan Am Silver T 1177 Pan Am Silver* D 5529 15 Pan Andean Min* O 500 Pan Andean Min V 195 Pan Global Res V V 756 Pancontinental O 2 Pancontinental* Panex Res* O 1 Pangolin Dia V 49 Panoro Mnrls V 84 O 1 PanTerra Gold* V 112 Pantheon Vent V 373 Para Resources Parallel Mng V 305 X 223 Paramount Gold* Paringa Res* O 9 Parlane Res V 151 Pasinex Res 23 Patriot Gold* O 29 N 5919 Peabody Enrgy* Pedro Res V 20

0.04 0.03 0.04 + 0.01 0.06 0.03 1.09 0.84 0.84 - 0.26 1.44 0.42 0.65 0.64 0.64 - 0.14 1.10 0.35 0.13 0.03 0.08 - 0.04 0.23 0.03 0.12 0.12 0.12 unch 0.00 0.12 0.02 0.04 0.04 0.04 unch 0.00 0.04 0.03 0.04 0.03 0.04 + 0.01 0.06 0.03 0.04 0.04 0.04 - 0.00 0.06 0.03 0.07 0.00 0.06 unch 0.00 0.07 0.05 0.09 0.03 0.06 - 0.02 0.09 0.00 0.17 0.14 0.14 - 0.02 0.20 0.13 0.37 0.34 0.36 unch 0.00 1.59 0.31 0.29 0.26 0.27 - 0.02 1.25 0.25 0.59 0.43 0.49 - 0.06 0.59 0.06 0.30 0.00 0.07 - 0.23 0.50 0.00 0.40 0.37 0.39 - 0.01 0.47 0.15 0.31 0.27 0.28 - 0.03 0.37 0.12 0.00 0.00 0.00 unch 0.00 0.00 0.00 23.39 22.13 22.67 - 0.46 24.50 18.00 18.31 17.15 17.64 - 0.46 19.56 13.99 0.07 0.07 0.07 unch 0.00 0.05 0.02 0.10 0.04 0.10 + 0.04 0.08 0.03 0.20 0.19 0.20 - 0.01 0.30 0.07 0.08 0.06 0.07 + 0.01 0.09 0.02 0.05 0.04 0.05 + 0.01 0.07 0.01 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.08 0.07 0.08 unch 0.00 0.09 0.04 0.36 0.33 0.34 - 0.02 0.48 0.15 0.01 0.00 0.01 unch 0.00 0.02 0.01 0.09 0.08 0.08 - 0.01 0.17 0.08 0.23 0.21 0.21 - 0.01 0.25 0.13 0.06 0.04 0.06 + 0.01 0.10 0.04 1.54 1.42 1.54 + 0.10 1.80 1.16 0.23 0.23 0.23 unch 0.00 0.45 0.23 0.24 0.20 0.20 + 0.02 0.30 0.11 0.19 0.18 0.18 - 0.01 0.33 0.16 0.09 0.08 0.09 + 0.00 0.11 0.05 42.66 38.84 41.64 + 2.89 42.66 22.58 0.23 0.00 0.23 + 0.01 0.50 0.13

P-Q

Week

12-month

Exc Volume High Low Last Change High Low

Pelangio Expl* O 43 Pelangio Expl V 694 Pele Mtn Res* O 69 115 Pele Mtn Res V Peloton Mnrls* O 481 Peloton Mnrls 213 O 90 PepinNini Lith* Peregrine Diam T 681 Perseus Mng T 348 Pershing Gold* D 194 2 Pershing Gold T O 38 Pershing Res* Petra Diamonds* O 11 Philex Mng* O 21 Philippine Mtl V 230 Pine Cliff En* O 128 731 Pine Cliff En T Pinecrest Res * O 0 Pinecrest Res V 24 Pistol Bay Mng V 1746 Pistol Bay Mng* O 100 Pivit Explor 220 PJSC Polyus Gd* O 2 PJX Res V 86 Plata Latina V 149 Plate Res V 135 V 681 Plateau Energy Plateau Energy* O 98 Platinex Inc 895 Platinum Gp Mt* X 7279 Platinum Gp Mt T 1319 Plato Gold V 205 Playfair Mng V 74 Playfair Mng* O 9 PolyMet Mng* X 830 PolyMet Mng T 52 Portage Res* O 147 Portofino Res V 894 O 160 Potash Ridge* Potash Ridge T 2069 O 495 Power Metals* Power Metals V 649 PPX Mining V 2225 PPX Mining* O 857 Prairie Mining* O 1381 Precipitate Gl V 444 Premier Gold M T 2715 Premium Expl* O 90 Pretium Res* N 7480 Pretium Res T 2176 Primary Cobalt 1449 Primero Mng T 6350 Primero Mng* O 387 Prism Res V 144 Prize Mng* O 1 Prize Mng V 222 ProAm Expl V 13 Probe Metals* O 433 Probe Metals V 357 Promithian Gl * O 0 O 42 Prophecy Coal* T 65 Prophecy Coal Prospect Glob* O 4 O 472 Prospector Res* Prospector Res V 862 Prosper Gold V 139 Prospero Silvr V 1454 Prospero Silvr* O 9 Provenance Gld 0 Providence V 76 O 8 Providence Gld* PUF Vent Inc 1404 PUF Vent Inc * O 89 Puma Expl V 244 Puma Expl* O 40 Pure Energy* O 570 352 Pure Energy V Pure Gold Mg* O 779 606 Pure Gold Mg V Pure Nickel* O 77 Pure Nickel V 53 V 1954 Purepoint Uran Q-Gold Res* O 0 Q-Gold Res V 13 QMC Quantum Ml* O 801 726 QMC Quantum Ml V QMX Gold* O 0 QMX Gold V 219 Quantum Cobalt 190 Quartz Mtn Res V 0 Quaterra Res V 2722 O 5337 Quaterra Res* Quest Rare Mnl* O 155 Quinto Res V 75

0.02 0.01 0.02 - 0.00 0.05 0.01 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.03 0.02 0.03 + 0.00 0.40 0.01 0.04 0.00 0.04 unch 0.00 0.20 0.03 0.10 0.08 0.10 + 0.02 0.12 0.05 0.12 0.10 0.12 + 0.01 0.15 0.05 0.02 0.02 0.02 + 0.00 0.07 0.02 0.16 0.14 0.15 - 0.01 0.23 0.11 0.46 0.40 0.42 - 0.04 0.50 0.27 2.00 1.83 1.97 - 0.01 3.31 1.83 2.55 2.38 2.42 - 0.12 4.15 2.32 0.03 0.02 0.03 + 0.01 0.09 0.01 1.06 1.03 1.06 + 0.03 1.56 0.85 0.09 0.08 0.08 - 0.01 0.19 0.08 0.08 0.06 0.07 + 0.01 0.16 0.05 0.27 0.25 0.25 - 0.02 0.64 0.21 0.34 0.33 0.34 - 0.01 0.86 0.27 0.00 0.00 0.17 unch 0.00 0.33 0.17 0.21 0.20 0.20 - 0.01 0.53 0.20 0.04 0.04 0.04 - 0.01 0.09 0.04 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.13 0.12 0.13 + 0.01 0.13 0.12 34.00 0.00 34.00 + 2.00 50.23 29.00 0.19 0.17 0.18 + 0.01 0.22 0.11 0.05 0.03 0.03 - 0.02 0.05 0.03 0.10 0.07 0.07 - 0.03 0.10 0.04 0.79 0.60 0.78 + 0.14 0.96 0.26 0.62 0.47 0.62 + 0.13 0.78 0.21 0.12 0.09 0.12 + 0.02 0.30 0.05 0.14 0.12 0.13 - 0.01 1.23 0.13 0.19 0.17 0.17 - 0.01 1.66 0.17 0.05 0.04 0.05 + 0.01 0.06 0.02 0.08 0.00 0.06 - 0.01 0.10 0.04 0.05 0.04 0.04 - 0.01 0.08 0.03 0.82 0.77 0.80 - 0.01 1.36 0.57 1.03 0.98 1.02 + 0.01 1.66 0.71 0.00 0.00 0.00 - 0.00 0.00 0.00 0.06 0.06 0.06 - 0.01 0.19 0.04 0.07 0.06 0.07 + 0.00 0.21 0.05 0.09 0.08 0.09 + 0.01 0.31 0.07 0.40 0.33 0.36 - 0.04 0.70 0.20 0.50 0.43 0.47 - 0.03 0.88 0.25 0.10 0.09 0.10 unch 0.00 0.10 0.05 0.07 0.07 0.07 + 0.00 0.08 0.04 0.00 0.00 0.32 unch 0.00 0.06 0.05 0.06 unch 0.00 0.19 0.05 3.07 2.65 2.71 - 0.26 4.13 2.59 0.01 0.01 0.01 + 0.00 0.02 0.00 7.24 6.94 7.00 - 0.17 12.44 6.17 9.22 8.89 9.01 - 0.14 15.52 7.93 0.13 0.11 0.11 - 0.03 0.15 0.10 0.31 0.30 0.31 unch 0.00 0.74 0.08 0.24 0.23 0.24 unch 0.00 0.70 0.06 0.07 0.06 0.07 - 0.01 0.20 0.06 0.14 0.12 0.12 - 0.02 0.52 0.12 0.17 0.16 0.17 - 0.01 0.69 0.16 0.04 0.04 0.04 unch 0.00 0.04 0.02 1.00 0.88 0.94 - 0.10 1.42 0.88 1.29 1.14 1.19 - 0.14 1.74 1.14 0.00 0.00 0.02 unch 0.00 0.10 0.02 2.25 2.02 2.20 - 0.03 4.00 1.93 2.86 2.58 2.82 - 0.03 5.00 2.40 0.12 0.00 0.06 unch 0.00 0.14 0.03 0.81 0.71 0.79 - 0.01 0.84 0.38 1.06 0.86 0.90 - 0.06 1.75 0.48 0.13 0.10 0.11 - 0.02 0.24 0.08 0.12 0.07 0.11 + 0.04 0.34 0.07 0.09 0.07 0.09 + 0.02 0.25 0.07 0.00 0.00 0.18 unch 0.00 0.40 0.08 0.18 0.15 0.15 - 0.01 0.27 0.09 0.13 0.12 0.13 + 0.01 0.15 0.10 0.87 0.74 0.81 + 0.05 2.09 0.32 0.67 0.59 0.63 + 0.03 1.85 0.25 0.07 0.07 0.07 unch 0.00 0.13 0.06 0.05 0.05 0.05 unch 0.00 0.09 0.04 0.23 0.19 0.22 + 0.02 0.50 0.18 0.28 0.25 0.27 + 0.02 0.65 0.24 0.52 0.49 0.50 - 0.01 0.56 0.36 0.66 0.64 0.65 + 0.01 0.71 0.46 0.02 0.02 0.02 + 0.00 0.04 0.00 0.03 0.02 0.02 - 0.01 0.05 0.01 0.08 0.06 0.06 - 0.02 0.10 0.06 0.00 0.00 0.08 unch 0.00 0.08 0.06 0.10 0.10 0.10 unch 0.00 0.30 0.10 0.51 0.44 0.46 + 0.00 1.46 0.07 0.65 0.58 0.60 + 0.02 1.85 0.09 0.00 0.00 0.14 unch 0.00 0.29 0.10 0.18 0.16 0.17 unch 0.00 0.40 0.14 0.25 0.21 0.22 - 0.03 1.90 0.20 0.00 0.00 0.90 unch 0.00 1.50 0.55 0.08 0.07 0.08 + 0.01 0.13 0.05 0.06 0.05 0.05 - 0.00 0.10 0.03 0.01 0.00 0.00 - 0.00 0.10 0.00 0.09 0.09 0.09 unch 0.00 0.14 0.05

Rackla Mtls V 4 Rackla Mtls* O 2 Radisson Mng V 177 Radius Gold V 221 Rainforest Res* O 1 258 Rainy Mtn Royl V 13 Rambler Ml &Mg V Randgold Res* O 0 Randgold Res* D 3050 Randsburg Intl V 5 O 221 Rare Element* V 163 Rathdowney Res Ravencrest Res 1017 21 Razore Rock Res RB Energy* O 1055 Red Eagle Mng T 1471 Red Eagle Mng* O 153 Red Moon Res V 59 495 Red Oak Mg V Red Pine Expl V 804 Redhawk Res T 621 Redstar Gold V 1268 Redstar Gold* O 286 O 54 Redzone Res* Redzone Res V 112 V 5 Regency Gold Regulus Res V 24 Reliant Gold 150 V 0 Remington Res Renaissance Gd* O 75 V 107 Renaissance Gd Renforth Res 1830 Resolve Vent V 151 V 1741 Resource Cap Resource Cap* O 0 Reunion Gold V 772 Revelo Res V 1427 Revival Gold * O 25 Revival Gold V 70 Richmond Mnls V 201 O 3 Richmond Mnls* V 17 Ridgestone M’g Rift Valley 34 O 21437 Rimrock Gold* Rio Silver V 150 Rio Tinto* N 9632 O 18 Rio Tinto* Rio Tinto* O 0 548 Rise Gold Corp Riverside Res* O 37 Riverside Res V 94 Rizal Res V 1421 RJK Explor V 114 Robex Res V 284 Rochester Res V 60 O 0 Rochester Res* 61 Rock Tech Lith* O Rock Tech Lith V 71 Rockcliff Met V 960 Rockcliff Met* O 730 Rockex Mng 72 V 406 Rockhaven Res Rockridge Res V 20 O 133 Rockshield Cap* Rockshield Cap 608 V 21 Rockwealth Res Rodinia Lithm V 46 Rogue Res* O 17 Rogue Res V 25 Rokmaster Res V 266 59 Romios Gold Rs* O 108 Romios Gold Rs V RosCan Mrnls V 200 4 Rosita Mg Corp* O Rosita Mg Corp V 545 V 327 Ross River Rotation Mnls V 63

0.13 0.00 0.13 + 0.01 0.17 0.08 0.10 0.00 0.10 + 0.01 0.13 0.05 0.16 0.14 0.15 - 0.01 0.25 0.13 0.11 0.10 0.10 - 0.01 0.16 0.09 5.81 0.00 5.50 - 0.35 9.45 1.00 0.03 0.03 0.03 - 0.01 0.17 0.03 0.10 0.10 0.10 - 0.02 0.20 0.08 81.55 81.55 81.55 unch 0.00 103.90 79.84 80.55 77.54 77.95 - 1.76 108.29 76.01 0.02 0.02 0.02 unch 0.00 0.02 0.01 0.22 0.18 0.20 - 0.01 0.44 0.07 0.12 0.11 0.12 unch 0.00 0.30 0.11 0.95 0.84 0.86 - 0.08 2.10 0.43 0.18 0.18 0.18 unch 0.00 0.90 0.09 0.00 0.00 0.00 + 0.00 0.00 0.00 0.24 0.21 0.23 - 0.01 0.69 0.21 0.19 0.16 0.17 - 0.01 0.51 0.16 0.09 0.08 0.09 + 0.01 0.16 0.04 0.20 0.19 0.20 + 0.02 0.25 0.06 0.08 0.07 0.07 unch 0.00 0.14 0.06 0.03 0.02 0.03 unch 0.00 0.10 0.02 0.04 0.04 0.04 unch 0.00 0.15 0.04 0.03 0.03 0.03 - 0.01 0.12 0.02 0.16 0.16 0.16 unch 0.00 0.57 0.08 0.23 0.21 0.21 - 0.02 0.75 0.10 0.28 0.00 0.28 unch 0.00 0.28 0.10 1.80 1.70 1.78 + 0.04 3.00 1.46 0.03 0.02 0.02 - 0.01 0.04 0.02 0.00 0.00 0.30 unch 0.00 1.15 0.30 0.18 0.16 0.18 + 0.01 0.38 0.16 0.23 0.21 0.23 + 0.01 0.48 0.20 0.06 0.05 0.05 - 0.01 0.09 0.03 0.10 0.08 0.08 - 0.02 0.69 0.08 0.06 0.04 0.05 - 0.01 0.21 0.04 0.00 0.00 0.06 unch 0.00 0.15 0.05 0.15 0.13 0.15 + 0.01 0.18 0.10 0.03 0.02 0.03 unch 0.00 0.07 0.02 0.62 0.00 0.56 + 0.02 0.70 0.42 0.79 0.70 0.72 - 0.01 0.86 0.31 0.06 0.05 0.05 - 0.01 0.18 0.04 0.03 0.03 0.03 unch 0.00 0.15 0.03 0.32 0.23 0.23 - 0.25 0.32 0.23 0.09 0.08 0.09 - 0.01 0.15 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.05 0.05 unch 0.00 0.07 0.04 59.27 56.81 58.41 + 1.02 59.27 37.66 58.31 0.00 58.31 + 1.31 58.07 38.98 0.00 0.00 62.25 unch 0.00 65.30 44.18 0.12 0.10 0.11 - 0.01 0.30 0.09 0.22 0.20 0.21 - 0.01 0.36 0.17 0.28 0.26 0.27 - 0.01 0.49 0.22 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.08 0.06 0.06 - 0.01 0.23 0.06 0.10 0.10 0.10 - 0.01 0.14 0.06 0.05 0.00 0.05 - 0.02 0.09 0.04 0.00 0.00 0.04 unch 0.00 0.06 0.02 0.00 0.00 1.17 unch 0.00 1.66 0.59 1.57 1.35 1.47 - 0.03 2.16 0.77 0.04 0.03 0.04 unch 0.00 0.12 0.03 0.03 0.00 0.02 - 0.01 0.10 0.02 0.04 0.03 0.03 - 0.01 0.04 0.01 0.15 0.14 0.14 + 0.00 0.19 0.12 0.23 0.23 0.23 unch 0.00 0.50 0.22 0.23 0.20 0.21 - 0.01 0.67 0.08 0.29 0.26 0.28 + 0.01 0.84 0.10 0.22 0.17 0.22 unch 0.00 0.30 0.16 0.19 0.00 0.18 unch 0.00 0.46 0.09 0.23 0.00 0.23 + 0.00 0.43 0.16 0.29 0.28 0.29 - 0.01 0.58 0.18 0.15 0.14 0.15 unch 0.00 0.30 0.08 0.06 0.06 0.06 - 0.00 0.07 0.03 0.07 0.07 0.07 - 0.01 0.09 0.04 0.10 0.09 0.09 unch 0.00 0.10 0.05 0.03 0.03 0.03 unch 0.00 0.06 0.01 0.06 0.05 0.05 unch 0.00 0.12 0.02 0.02 0.02 0.02 - 0.29 0.50 0.10 0.17 0.15 0.15 - 0.02 0.45 0.12

R

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

V 25 Roughrider Exp T 3837 Roxgold Roxgold* O 18 Royal Gold* D 1979 Royal Nickel T 2833 Royal Nickel* O 208 148 Royal Rd Mnrls V Royal Std Mnrl* O 238 RT Minerals V 635 RT Minerals* O 4 RTG Mining T 180 O 102 Rubicon Mnrls* T 32 Rubicon Mnrls Rugby Mng V 69 11 Running Fox Rs* O 7 Running Fox Rs V Rupert Res V 133 Rusoro Mng* O 80 Rusoro Mng V 113 45 Rye Patch Gold* O 303 Rye Patch Gold V

0.03 unch 0.00 0.12 0.03 0.03 0.03 1.32 1.23 1.28 + 0.02 1.44 0.98 0.78 1.01 0.95 0.99 - 0.02 1.13 74.35 91.21 87.50 88.58 - 1.84 94.39 0.16 0.20 0.18 0.19 - 0.01 0.38 0.12 0.16 0.14 0.15 - 0.01 0.31 0.12 0.00 0.11 unch 0.00 0.18 0.06 0.00 0.00 0.00 - 0.00 0.00 0.00 0.02 0.02 0.02 0.02 - 0.01 0.14 0.01 unch 0.00 0.10 0.01 0.01 0.01 0.10 0.13 0.13 0.13 + 0.01 0.55 0.90 1.11 1.01 1.03 - 0.06 1.48 1.13 1.45 1.32 1.35 - 0.03 1.88 0.24 0.35 0.32 0.33 - 0.01 0.50 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.03 0.03 0.03 + 0.01 0.04 0.01 0.68 1.12 1.01 1.01 - 0.09 1.46 0.05 0.07 0.06 0.07 + 0.00 0.16 0.06 0.10 0.08 0.10 + 0.01 0.22 0.92 0.85 0.86 - 0.04 1.52 0.80 1.18 1.09 1.10 - 0.06 1.95 1.05

T 678 Sabina Gd&Slvr O 341 Sabina Gd&Slvr* Sable Res V 355 Sage Gold* O 58 Sage Gold V 2941 Sailfish Rylty V 10 Saint Jean* O 12 Saint Jean V 820 Salazar Res* O 15 Salazar Res V 46 23 Salt Lake Pot* O Sama Res V 408 Sama Res* O 31 Samco Gold V 39 Samex Mng* O 400 29 San Gold Corp* O San Marco Res* O 140 254 San Marco Res V V 867 Sanatana Diam Sandfire Res V 173 Sandfire Res* O 114 O 73 Sandspring Res* V 439 Sandspring Res T 1100 Sandstorm Gold X 6057 Sandstorm Gold* 22 Sandy Lake Gld* O 270 Sandy Lake Gld V Santa Fe Gold* O 270 V 179 Santacruz Silv Sarama Res V 337 Sarissa Res* O 2253 Satori Res V 24 Saturn Mnrls V 1607 Savary Gold V 411 Savary Gold* O 400 Saville Res V 668 485 Scandium Intl T O 108 Scandium Intl* Scorpio Gold V 1454 ScoZinc Mg V 14 ScoZinc Mg* O 0 Seabridge Gld T 245 Seabridge Gld* N 1290 Search Mnls V 50 Searchlight* O 408 Secova Mtls V 160 Secova Mtls* O 0 Sego Res V 278 Select Sands V 3552 T 4972 Semafo O 5 Senator Mnrls* Senator Mnrls V 37 V 1 Sennen Potash O 1 Sennen Potash* Serabi Gold T 40 Serengeti Res V 64 Shamrock Ent 827 O 1 Shear Diamonds* Sherritt Intl T 4542 V 23 Shoshoni Gold 23438 N Sibanye Gold* O 0 Sibanye Gold* O 449 Sidney Resrces* Sienna Res* O 48 Sienna Res V 2638 Sierra Metals* X 210 Sierra Metals T 39 O 170 Signature Res* Signature Res V 398 159 Silver Bear Rs T 10 Silver Bear Rs* O Silver Bull Re* O 1256 692 Silver Bull Re T O 371 Silver Dragon* Silver Grail V 127 Silver Hill* O 2 48 Silver Mtn Mns V Silver Phoenix 10 O 4 Silver Predatr* Silver Predatr V 25 Silver Pursuit V 131 Silver Range V 202 Silver Scott* O 11 O 20 Silver Spruce* Silver Spruce V 688 O 3 Silver Stream* Silver Viper V 92 Silver Wheaton T 2791 N 6389 Silver Wheaton* T 1236 Silvercorp Met X 2127 Silvercorp Met* O 166 SilverCrest Mt* SilverCrest Mt V 230 O 14 Silverstar Res* Sirios Res V 64 Sitka Gold 61 Skeena Res V 349 Skeena Res* O 46 O 237 Skyharbour Res* V 332 Skyharbour Res Slam Explor V 579 O 26 Sojourn Explor* V 141 Sojourn Explor Sokoman Iron V 546 SolGold plc* O 385 SolGold plc T 156 T 66 Solitario Ex&R X 329 Solitario Ex&R* 250 Sonora Gld & S V Sonora Res * O 727 Sonoro Mtls V 175 Sonoro Mtls* O 88 Southern Arc* O 41 Southern Arc V 23 N 4211 Southern Copp* O 123 Southern Silvr* Southern Silvr V 206 T 125 SouthGobi Res 436 Spanish Mtn Gd V 64 Spanish Mtn Gd* O Sparton Res V 151 Sparton Res* O 45 O 41 Spearmint Res* V 2353 Spearmint Res Sphinx Res V 866 692 Sprott Res Hld T 99 Spruce Ridge R V Squire Mg Ltd 1000 SRG Graphite V 369 SSR Mining* D 3560 SSR Mining T 902 St Augustine T 286 14 St Elias Mns* O O 187 St-Georges Eco* St-Georges Eco 4640 O 31 Stakeholdr Gld* V 22 Stakeholdr Gld O 1249 Standard Graph* Standard Lith V 667 O 189 Standard Metal* Stans Energy V 190 O 81 Stans Energy* Star Diamond T 739 O 88 Star Diamond* Starcore Intl T 165 14 Starr Peak Exp V O 0 Steele Oceanic* Stellar Africa* O 2 Stellar Africa V 97 1 Stelmine Can * O

1.48 1.77 1.58 1.74 + 0.04 2.70 1.14 1.38 1.21 1.34 + 0.02 2.17 0.12 0.27 0.25 0.26 + 0.01 0.35 0.05 0.05 0.05 0.05 - 0.01 0.20 0.05 0.08 0.05 0.07 - 0.01 0.27 1.00 1.94 1.27 1.28 - 0.67 3.07 0.01 0.03 0.01 0.03 + 0.02 0.05 0.03 unch 0.00 0.06 0.03 0.03 0.03 0.06 unch 0.00 0.13 0.10 0.10 0.10 0.08 unch 0.00 0.18 0.13 0.12 0.13 0.44 0.44 0.44 unch 0.00 0.47 0.27 0.12 0.40 0.33 0.36 - 0.02 0.50 0.10 0.30 0.27 0.27 - 0.03 0.41 0.02 0.05 0.05 0.05 + 0.01 0.11 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 - 0.00 0.01 0.00 0.16 0.14 0.14 - 0.02 0.23 0.10 0.20 0.19 0.19 - 0.02 0.30 0.13 0.03 0.05 0.04 0.04 - 0.01 0.07 0.06 0.11 0.09 0.11 + 0.01 0.12 0.05 0.09 0.08 0.09 + 0.01 0.10 0.20 0.24 0.22 0.22 - 0.02 0.39 0.27 0.30 0.28 0.29 - 0.02 0.46 4.39 6.18 5.64 5.86 - 0.27 6.95 3.26 4.84 4.40 4.54 - 0.27 5.64 0.06 0.05 0.06 + 0.01 0.07 0.03 0.08 0.06 0.06 - 0.01 0.11 0.04 0.12 0.10 0.11 + 0.00 0.20 0.07 0.09 unch 0.00 0.26 0.14 0.12 0.13 0.08 unch 0.00 0.20 0.11 0.10 0.11 0.00 unch 0.00 0.01 0.00 0.00 0.00 0.07 0.09 0.00 0.09 - 0.01 0.26 0.07 unch 0.00 0.18 0.14 0.13 0.13 0.04 unch 0.00 0.09 0.05 0.05 0.05 0.03 unch 0.00 0.07 0.04 0.04 0.04 0.06 0.08 0.07 0.07 - 0.01 0.40 0.18 0.16 0.17 - 0.01 0.43 0.16 0.12 0.15 0.13 0.14 + 0.01 0.35 0.02 unch 0.00 0.08 0.03 0.02 0.02 1.00 1.13 1.10 1.10 - 0.03 1.75 0.80 unch 0.00 1.44 0.00 0.00 0.91 12.61 14.01 13.22 13.53 - 0.47 17.65 10.95 10.30 10.45 - 0.50 13.70 9.50 0.03 0.08 0.07 0.07 - 0.01 0.09 0.01 0.03 0.02 0.03 + 0.01 0.06 0.08 0.16 0.00 0.14 - 0.03 0.80 0.01 unch 0.00 0.06 0.00 0.00 0.01 0.03 0.05 0.04 0.05 + 0.01 0.09 0.33 unch 0.00 1.24 0.47 0.38 0.41 2.70 0.16 4.14 3.62 - 3.79 3.52 0.14 unch 0.00 1.57 0.15 0.15 0.15 0.17 unch 0.00 1.99 0.19 0.17 0.18 0.30 unch 0.00 1.00 0.00 0.00 0.38 0.33 0.39 0.38 0.38 - 0.01 0.62 0.05 0.07 0.00 0.07 + 0.01 0.09 0.13 0.16 0.15 0.15 + 0.01 0.26 0.03 0.05 0.04 0.05 + 0.01 0.08 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.74 1.28 1.16 1.28 + 0.09 1.87 0.04 0.04 0.04 0.04 - 0.01 0.07 2.82 3.17 2.77 2.80 - 0.17 7.76 0.80 unch 0.00 1.34 0.00 0.00 0.84 0.00 0.01 0.01 0.01 - 0.00 0.02 0.07 0.11 0.00 0.08 - 0.02 0.32 0.09 0.14 0.10 0.10 - 0.04 0.39 2.13 unch 0.00 3.10 2.85 2.62 2.80 2.75 unch 0.00 3.84 3.64 3.34 3.51 0.04 0.10 0.09 0.10 - 0.00 0.11 0.05 0.14 0.11 0.11 - 0.02 0.14 0.25 0.21 0.22 - 0.01 0.37 0.12 0.17 0.16 0.17 + 0.00 0.26 0.08 0.15 0.12 0.14 - 0.01 0.23 0.06 0.19 0.17 0.18 - 0.01 0.29 0.08 0.00 0.01 0.00 0.01 - 0.00 0.03 0.05 0.08 0.07 0.08 + 0.02 0.13 0.10 unch 0.00 0.36 0.25 0.00 0.25 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.05 unch 0.00 0.24 0.07 0.07 0.07 0.05 unch 0.00 0.22 0.08 0.08 0.08 0.09 0.10 0.10 0.10 - 0.01 0.28 0.11 unch 0.00 0.21 0.20 0.18 0.20 0.12 unch 0.00 0.28 0.16 0.16 0.16 0.01 unch 0.00 0.24 0.02 0.02 0.02 0.02 0.04 0.02 0.03 - 0.01 0.06 0.03 0.04 0.03 0.04 - 0.01 0.08 0.01 unch 0.00 1.00 1.00 1.00 1.00 0.15 0.19 0.18 0.18 - 0.02 0.30 23.18 28.11 27.33 27.91 - 0.06 28.83 18.32 22.04 21.32 21.66 - 0.20 22.72 2.72 3.75 3.47 3.75 + 0.11 4.36 2.12 2.94 2.68 2.89 + 0.09 3.43 0.84 1.88 1.70 1.73 - 0.02 2.10 1.05 2.40 2.20 2.22 - 0.01 2.58 0.06 0.15 0.06 0.15 + 0.08 3.36 0.23 0.26 0.23 0.23 - 0.02 0.49 0.16 0.26 0.20 0.22 - 0.04 0.30 0.40 0.52 0.49 0.50 + 0.01 0.80 0.27 0.40 0.37 0.39 - 0.03 0.66 0.24 0.33 0.30 0.31 - 0.00 0.42 0.31 0.42 0.39 0.40 + 0.01 0.55 0.03 unch 0.00 0.07 0.04 0.00 0.03 0.10 0.12 0.11 0.12 + 0.01 0.21 0.11 0.15 0.13 0.15 + 0.02 0.30 0.03 0.04 0.03 0.04 + 0.01 0.10 0.28 0.38 0.34 0.37 + 0.03 0.59 0.34 0.48 0.43 0.46 - 0.02 0.95 0.51 0.56 0.51 0.54 + 0.01 1.08 0.39 0.45 0.41 0.43 - 0.01 0.88 0.09 0.09 0.09 unch 0.00 0.20 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.11 0.16 0.16 0.16 + 0.01 0.20 0.09 unch 0.00 0.14 0.13 0.12 0.12 0.37 0.34 0.37 + 0.02 0.65 0.31 0.36 unch 0.00 0.90 0.55 0.54 0.55 32.98 52.60 50.59 51.35 - 0.42 58.09 0.16 0.20 0.17 0.18 - 0.02 0.35 0.21 unch 0.00 0.47 0.28 0.21 0.22 0.10 0.14 0.14 0.14 + 0.01 0.37 0.10 0.09 0.10 - 0.01 0.19 0.08 0.10 0.08 0.09 + 0.01 0.14 0.06 0.03 0.07 0.06 0.07 - 0.01 0.14 0.02 0.05 0.05 0.05 - 0.00 0.11 0.02 0.04 0.03 0.04 + 0.01 0.11 0.02 unch 0.00 0.14 0.05 0.04 0.05 0.04 unch 0.00 0.08 0.06 0.06 0.06 0.12 0.11 0.12 - 0.01 0.18 0.12 0.04 0.03 0.03 - 0.01 0.06 0.01 0.31 0.27 0.31 + 0.04 0.45 0.05 0.32 1.50 1.44 1.46 - 0.02 2.25 10.87 10.14 10.27 - 0.57 11.44 7.64 13.85 13.00 13.25 - 0.61 14.62 9.66 0.02 0.03 0.02 0.03 + 0.01 0.05 0.00 0.00 0.00 + 0.00 0.00 0.00 0.11 0.23 0.21 0.23 + 0.02 2.20 0.02 0.32 0.26 0.30 + 0.03 2.90 0.17 0.18 0.17 0.17 - 0.00 0.45 0.22 0.24 0.23 0.23 - 0.01 0.64 0.13 0.73 0.66 0.71 + 0.03 0.86 0.82 1.82 1.49 1.67 + 0.18 2.85 0.02 0.15 0.10 0.15 - 0.01 0.19 0.03 unch 0.00 0.05 0.04 0.04 0.04 0.02 0.03 0.02 0.02 - 0.00 0.04 0.15 0.20 0.19 0.19 - 0.01 0.44 0.12 0.16 0.15 0.15 - 0.00 0.33 0.19 0.19 0.19 0.19 - 0.01 0.46 0.13 0.13 0.13 unch 0.00 0.19 0.10 0.96 unch 0.00 3.49 0.00 0.00 0.96 0.03 0.04 0.03 0.03 - 0.02 0.05 0.03 unch 0.00 0.07 0.05 0.04 0.05 0.17 0.17 0.00 0.17 unch 0.17 0.17

S

2018-05-22 11:08 AM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / MAY 28–JUNE 10, 2018

Week

12-month

Exc Volume High Low Last Change High Low

Stelmine Can V 123 Sterling Grp* O 28 Stina Res 2627 Stina Res* O 342 Stornoway Diam* O 13 T 1175 Stornoway Diam Stratabd Mnr V 462 Strateco Res* O 66 Strategic Metl V 171 Strategic Metl* O 73 Strategic Res V 2 Stria Lithium V 516 Strikepoint Gd V 192 O 69 Strikepoint Gd* Strongbow Expl V 699 O 27 Strongbow Expl* Stroud Res V 205 Sulliden Mng T 521 Sun Metals V 224 Suncor Energy T 15688 N 16510 Suncor Energy* V 780 Sunvest Mnrls Sunvest Mnrls* O 272 O 189 Superior Gold* Superior Gold V 943 Superior Mng V 14 Supreme Metals 1113 Surge Copper * O 0 Surge Copper V 650 Surge Explor* O 72 Surge Explor V 3 Sutter Gold* O 150 Sutter Gold V 85 Syrah Res* O 131

0.22 0.20 0.22 + 0.03 0.45 0.14 0.10 0.05 0.10 - 0.00 0.10 0.03 0.64 0.55 0.58 - 0.05 0.76 0.10 0.51 0.42 0.45 - 0.02 0.60 0.09 0.44 0.41 0.41 - 0.03 0.66 0.41 0.57 0.51 0.52 - 0.04 0.85 0.50 0.05 0.04 0.05 + 0.01 0.08 0.01 0.01 0.00 0.00 + 0.00 0.05 0.00 0.48 0.44 0.48 + 0.03 0.73 0.40 0.37 0.34 0.35 - 0.01 0.54 0.31 0.00 0.00 0.25 unch 0.00 0.25 0.10 0.04 0.04 0.04 unch 0.00 0.08 0.03 0.29 0.25 0.28 + 0.02 0.55 0.15 0.23 0.19 0.20 - 0.00 0.40 0.11 0.28 0.24 0.26 + 0.01 0.28 0.13 0.22 0.00 0.20 + 0.03 0.22 0.10 0.02 0.01 0.01 - 0.01 0.03 0.01 0.37 0.32 0.32 - 0.06 0.65 0.18 0.26 0.21 0.24 - 0.03 0.40 0.16 53.43 51.20 52.76 + 1.84 53.43 36.09 41.74 40.12 40.97 + 1.14 41.74 27.96 0.08 0.07 0.08 + 0.01 0.14 0.07 0.09 0.05 0.06 - 0.00 0.18 0.06 1.12 0.97 1.01 - 0.15 1.28 0.69 1.46 1.23 1.27 - 0.18 1.62 0.85 0.06 0.06 0.06 unch 0.00 0.13 0.04 0.05 0.04 0.05 - 0.01 0.08 0.03 0.00 0.00 0.09 unch 0.00 0.21 0.09 0.13 0.10 0.10 - 0.02 0.26 0.09 0.20 0.16 0.19 - 0.16 0.36 0.09 0.45 0.39 0.39 unch 0.00 0.23 0.03 0.02 0.00 0.01 - 0.00 0.04 0.01 0.02 0.02 0.02 unch 0.00 0.05 0.02 2.54 2.38 2.53 + 0.09 3.85 1.85

Tahoe Res* N 10373 T 3430 Tahoe Res Taiga Gold 143 Taiga Gold* O 111 Tajiri Res V 122 Taku Gold* O 7 Taku Gold 60 Talon Metals T 418 O 246 Tamerlane Vent* Tamino Mnrls* O 1366 V 55 Tanager Energy Tango Mining V 556 Tanqueray Expl V 414 Tantalex Res 2643 Tanzania Mnls V 10 Tanzania Rlty T 111 Tanzania Rlty* X 1011 Taranis Res* O 211 Taranis Res V 207 Tarku Res V 209 Tartisan Nick 105 Tasca Res V 199 Taseko Mines T 1224 X 2061 Taseko Mines* Teck Res T 8442 Teck Res* N 9307 T 14 Teck Res Telson Res * O 9 Telson Res V 128 Tembo Gold V 273 Tembo Gold* O 273 Teranga Gold T 2329 Teranga Gold* O 278 Teras Res* O 5 Teras Res V 182 Terraco Gold V 520 Terrax Mnrls* O 40 Terrax Mnrls V 162 Terreno Res V 154 Teslin Rvr Res V 282 Tesoro Mnrls V 174 Tesoro Mnrls* O 30 Tethyan Res V 159 Teuton Res* O 131 Teuton Res V 197 O 166 Texas Mineral* Theia Res V 220 Themac Res V 31

4.96 4.73 4.82 - 0.12 9.68 3.76 6.35 6.06 6.21 - 0.09 12.93 4.75 0.20 0.16 0.16 - 0.04 0.21 0.13 0.15 0.12 0.15 - 0.01 0.16 0.11 0.14 0.13 0.13 - 0.01 0.18 0.08 0.05 0.04 0.04 - 0.01 0.20 0.04 0.05 0.00 0.05 - 0.01 0.25 0.05 0.08 0.00 0.08 unch 0.00 0.15 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.08 0.08 0.08 - 0.01 0.18 0.08 0.04 0.03 0.03 unch 0.00 0.06 0.03 0.96 0.83 0.96 + 0.10 1.41 0.33 0.16 0.12 0.14 - 0.01 0.25 0.03 0.21 0.00 0.20 unch 0.00 1.20 0.15 0.81 0.71 0.75 - 0.03 0.89 0.31 0.65 0.55 0.57 - 0.04 0.68 0.24 0.10 0.08 0.09 - 0.00 0.11 0.03 0.12 0.11 0.12 unch 0.00 0.14 0.07 0.05 0.04 0.04 unch 0.00 0.07 0.03 0.13 0.09 0.12 unch 0.00 0.16 0.08 0.07 0.07 0.07 - 0.01 0.62 0.05 1.59 1.46 1.50 - 0.07 2.98 1.35 1.25 1.14 1.16 - 0.06 2.46 1.05 37.05 35.67 36.34 + 0.78 38.89 19.27 28.97 27.62 28.23 + 0.40 30.80 14.56 37.10 35.99 36.20 + 0.59 38.90 20.00 0.66 0.63 0.63 - 0.02 0.74 0.19 0.85 0.78 0.83 unch 0.00 1.00 0.28 0.03 0.00 0.03 - 0.01 0.05 0.01 0.03 0.02 0.03 + 0.00 0.03 0.01 5.41 4.99 5.31 + 0.07 5.40 2.36 4.20 3.88 4.13 + 0.01 6.40 1.83 0.06 0.06 0.06 unch 0.00 0.11 0.05 0.10 0.09 0.10 + 0.02 0.15 0.07 0.10 0.09 0.10 unch 0.00 0.13 0.08 0.32 0.30 0.31 + 0.02 0.51 0.29 0.42 0.37 0.42 + 0.05 0.65 0.36 0.05 0.04 0.05 + 0.01 0.18 0.03 0.40 0.37 0.39 + 0.01 0.76 0.36 0.07 0.06 0.06 unch 0.00 0.12 0.06 0.05 0.05 0.05 unch 0.00 0.06 0.05 0.25 0.19 0.20 unch 0.00 0.57 0.17 0.16 0.13 0.13 - 0.03 0.26 0.12 0.21 0.17 0.18 - 0.03 0.35 0.15 0.19 0.16 0.17 - 0.01 0.28 0.12 0.08 0.07 0.08 unch 0.00 0.12 0.07 0.07 0.06 0.06 unch 0.00 0.10 0.03

T

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Thor Expl V 239 1 Thunder Mtn Gd V Thunder Mtn Gd* O 13 V 422 Thunderstruck Thunderstruck* O 91 Till Capital* D 0 Till Capital V 9 Timberline Res V 378 O 301 Timberline Res* Timmins Gold T 590 X 651 Timmins Gold* Tinka Res V 454 Tinka Res* O 74 Tintina Mines V 100 Titan Mining T 267 V 35 Titanium Corp 5 TMAC Resource* O TMAC Resources T 1418 TNR Gold V 53 Toachi Mg Inc* O 200 963 Toachi Mg Inc V Tolima Gold V 719 TomaGold V 352 O 774 Tombstone Expl* Tonogold Res* O 55 O 24 Torex Gold* Torex Gold T 1255 Toron, Inc* O 3858 O 53 Torq Resources* Torq Resources V 252 Tower Res* O 5 Tower Res V 913 Transatlan Mng V 34 Transition Mtl V 394 Treasury Metal T 388 O 39 Treasury Metal* Trecora Res* N 114 Trek Mining V 1294 Trek Mining* O 576 Tres-Or Res V 282 Trevali Mng* O 1007 Trevali Mng T 4792 Tri Origin Exp V 391 Trident Gold V 2 Trifecta Gold* O 2 Trifecta Gold V 136 Trigen Res* O 4 Trilogy Mtls* X 580 Trilogy Mtls T 110 TriMetals Mng T 112 O 443 TriMetals Mng* O 10 TriMetals Mng* Trinity Res* O 4 Trinity Valley V 111 Trio Resources* O 132 TriStar Gold V 53 TriStar Gold* O 120 Triumph Gold V 213 O 166 Triumph Gold* Troilus Gold V 393 Troilus Gold* O 0 Troy Enrgy V 200 Troy Res* O 100 Troymet Expl V 30 True North Gem V 1251 V 80 Trueclaim Expl Tsodilo Res V 1 Tudor Gold V 229 7 Tudor Gold * O Tungsten Corp* O 2696 17733 Turquoise HIl* N Turquoise HIl T 3289 TVI Pacific V 816 TVI Pacific* O 56 Tyhee Gold* O 26 Typhoon Expl V 84

0.22 0.19 0.22 + 0.03 0.25 0.09 0.25 0.25 0.25 unch 0.00 0.32 0.12 0.18 0.13 0.18 + 0.02 0.30 0.08 0.10 0.07 0.10 + 0.02 0.13 0.05 0.07 0.05 0.07 + 0.00 0.10 0.04 0.00 0.00 4.00 unch 0.00 5.45 3.30 3.10 2.50 3.00 + 1.00 5.85 2.00 0.12 0.11 0.12 - 0.02 0.60 0.10 0.12 0.08 0.09 - 0.02 0.47 0.08 2.49 2.28 2.34 - 0.12 7.99 2.23 1.96 1.78 1.81 - 0.12 6.06 1.70 0.46 0.43 0.43 - 0.02 0.87 0.43 0.36 0.33 0.34 - 0.01 0.75 0.34 0.10 0.08 0.10 unch 0.00 0.10 0.04 1.32 1.20 1.23 - 0.05 1.65 0.92 0.89 0.86 0.86 unch 0.00 1.50 0.70 4.98 4.24 4.24 - 0.75 12.51 4.82 6.49 5.19 5.53 - 0.76 16.90 5.19 0.05 0.00 0.04 - 0.01 0.09 0.03 0.12 0.12 0.12 unch 0.00 0.35 0.10 0.18 0.13 0.17 + 0.03 0.50 0.12 0.01 0.01 0.01 unch 0.00 0.06 0.01 0.06 0.05 0.05 - 0.01 0.10 0.05 0.01 0.00 0.01 - 0.00 0.01 0.00 0.15 0.11 0.13 - 0.02 0.40 0.03 10.37 9.50 10.37 + 0.44 19.75 5.73 13.41 12.21 13.32 + 0.58 26.23 7.29 0.01 0.01 0.01 - 0.00 0.02 0.00 0.49 0.45 0.46 - 0.03 1.10 0.35 0.63 0.56 0.61 - 0.02 0.90 0.43 0.11 0.11 0.11 unch 0.00 0.24 0.08 0.17 0.13 0.15 + 0.01 0.34 0.10 0.05 0.04 0.04 - 0.01 0.18 0.04 0.14 0.12 0.13 - 0.01 0.21 0.12 0.44 0.43 0.43 unch 0.00 0.77 0.42 0.35 0.33 0.34 - 0.01 0.65 0.30 13.65 12.95 13.50 + 0.25 14.40 10.25 1.08 1.02 1.06 - 0.02 1.39 0.88 0.86 0.79 0.82 - 0.03 1.11 0.69 0.05 0.04 0.05 + 0.01 0.07 0.03 0.90 0.84 0.85 - 0.04 1.37 0.76 1.15 1.10 1.11 - 0.01 1.75 1.03 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.00 0.00 0.16 unch 0.00 0.22 0.14 0.08 0.07 0.08 - 0.01 0.20 0.06 0.11 0.10 0.10 - 0.01 0.40 0.09 0.34 0.30 0.30 - 0.04 0.46 0.04 1.38 1.22 1.32 + 0.10 1.64 0.58 1.75 1.55 1.71 + 0.16 2.03 0.78 0.14 0.13 0.14 + 0.02 0.26 0.12 0.11 0.10 0.11 + 0.01 0.20 0.09 0.18 0.18 0.18 - 0.01 0.20 0.13 0.07 0.00 0.07 + 0.06 0.10 0.01 0.10 0.07 0.08 + 0.01 0.18 0.07 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.21 0.19 0.20 unch 0.00 0.41 0.18 0.16 0.14 0.15 - 0.01 0.32 0.13 0.35 0.31 0.33 + 0.01 0.57 0.25 0.28 0.25 0.25 - 0.00 0.46 0.20 1.63 1.50 1.54 - 0.05 2.25 0.29 0.00 0.00 1.14 unch 0.00 1.59 1.14 0.06 0.05 0.05 unch 0.00 0.15 0.04 0.11 0.11 0.11 unch 0.00 0.13 0.05 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.28 0.14 0.27 + 0.11 0.30 0.07 0.00 0.00 0.61 unch 0.00 0.85 0.52 0.46 0.42 0.43 + 0.01 0.94 0.37 0.33 0.32 0.33 + 0.01 0.71 0.31 0.00 0.00 0.00 + 0.00 0.00 0.00 3.00 2.87 2.93 - 0.01 3.59 2.44 3.84 3.69 3.80 + 0.05 4.52 3.25 0.02 0.01 0.01 unch 0.00 0.02 0.01 0.01 0.01 0.01 unch 0.00 0.02 0.00 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.07 0.07 0.07 - 0.01 0.12 0.04

U.S. Lithium* O 1475 U3O8 Corp* O 37 U3O8 Corp T 79 UC Res* O 8 Ucore Rare Mtl V 458 Ucore Rare Mtl* O 324

0.02 0.02 0.02 - 0.00 0.06 0.02 0.29 0.26 0.26 + 0.00 0.49 0.18 0.37 0.00 0.34 + 0.01 0.60 0.21 0.00 0.00 0.00 unch 0.00 0.20 0.00 0.21 0.19 0.20 - 0.01 0.32 0.18 0.17 0.15 0.15 - 0.01 0.26 0.14

U-V

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

UEX Corp T 2081 Ultra Lithium V 131 Ultra Lithium* O 2 O 9 Umbral Enrgy* Unigold* O 22 V 212 Unigold United Lithium 11 United Res Hdg* O 33 United Silver* O 274 United States A* X 289 United States S* N 40366 Unity Energy* O 1 Unity Energy V 27 V 222 Universal Vent Upper Canyon V 3 Ur-Energy T 52 Ur-Energy* X 1253 Uracan Res V 377 Uracan Res* O 144 Uragold Bay Rs V 609 X 3943 Uranium Energy* O 1 Uranium Hunter* Uranium Res* D 1356 Uravan Mnrls V 131 URZ Energy V 289 URZ Energy* O 73 V 788 US Cobalt US Cobalt * O 264 US Energy* D 189 US Precious M* O 3589 USCorp* O 3 N 120062 Vale* ValGold Res V 1554 ValGold Res* O 213 Valley High Mg* O 3199 Valterra Res V 100 V 846 Vanadium One Vanadiumcorp* O 214 V 960 Vanadiumcorp Vangold Res* O 106 Vangold Res V 312 250 Vanstar Mng Rs V Vantex Res * O 1 Vantex Res V 146 Vatic Vent V 435 Vatic Vent* O 79 N 4641 Vedanta* Velocity Mnrls* O 2 Velocity Mnrls V 4 Vendetta Mng* O 553 Vendetta Mng V 1107 V 20 Venerable Vent Verde Potash T 182 Verde Res* O 1141 Veris Gold* O 20 Victoria Gold V 990 O 5 Victory Nickel* Victory Nickel 10 Victory Res V 65 Victory Vent V 1069 Victory Vent* O 30 Virginia Enrgy V 3 Virginia Enrgy* O 5 Viscount Mng V 534 Visible Gold M V 26 1 Visible Gold M* O Vision Lithium V 99 Vision Lithium* O 31 Vista Gold* X 349 Vista Gold T 48 Viva Gold V 117 Volcanic Gold V 195 Volt Energy* O 40 Volt Energy V 34 Voltaic Min V 117 Voyageur Min V 69 O 98 VR Resources* VR Resources V 330 Vulcan Mnrls V 30 VVC Expl V 264

0.27 0.25 0.27 + 0.01 0.41 0.15 0.25 0.22 0.25 + 0.03 0.80 0.14 0.16 0.16 0.16 unch 0.00 0.63 0.11 0.27 0.23 0.25 + 0.02 0.64 0.03 0.14 0.12 0.12 - 0.02 0.24 0.12 0.17 0.16 0.16 - 0.02 0.33 0.15 0.56 0.55 0.55 unch 0.00 0.56 0.40 0.05 0.02 0.05 + 0.03 0.07 0.00 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.31 0.24 0.31 + 0.03 0.46 0.20 38.10 35.44 36.46 + 0.70 47.64 18.55 0.13 0.13 0.13 unch 0.00 0.19 0.08 0.19 0.17 0.17 - 0.01 0.23 0.10 0.43 0.41 0.41 - 0.01 0.50 0.31 0.20 0.20 0.20 unch 0.00 0.34 0.03 0.96 0.94 0.96 + 0.01 0.98 0.62 0.75 0.73 0.74 + 0.00 0.79 0.50 0.03 0.02 0.02 unch 0.00 0.04 0.02 0.01 0.01 0.01 - 0.00 0.09 0.01 0.10 0.09 0.09 - 0.00 0.15 0.08 1.66 1.51 1.60 - 0.03 2.00 0.96 0.50 0.00 0.50 unch 0.00 3.00 0.50 0.48 0.42 0.45 - 0.01 1.70 0.42 0.05 0.04 0.05 + 0.01 0.08 0.04 0.48 0.43 0.47 + 0.03 0.79 0.20 0.37 0.33 0.36 + 0.01 0.51 0.24 1.09 0.97 1.06 + 0.11 1.34 0.45 0.84 0.75 0.81 + 0.06 1.04 0.36 1.51 1.27 1.37 - 0.08 1.96 0.60 0.00 0.00 0.00 + 0.00 0.01 0.00 0.01 0.01 0.01 - 0.00 0.02 0.00 15.24 14.30 14.58 - 0.03 15.24 7.47 0.12 0.12 0.12 + 0.01 0.14 0.03 0.10 0.10 0.10 unch 0.00 0.10 0.02 0.01 0.01 0.01 - 0.00 0.04 0.00 0.03 0.02 0.02 - 0.01 0.06 0.02 0.07 0.06 0.07 unch 0.00 0.17 0.04 0.08 0.07 0.08 + 0.00 0.14 0.05 0.11 0.10 0.10 unch 0.00 0.18 0.07 0.06 0.05 0.05 - 0.01 1.38 0.05 0.08 0.06 0.06 - 0.01 0.25 0.06 0.08 0.07 0.07 + 0.01 0.12 0.06 0.06 0.06 0.06 unch 0.00 0.11 0.04 0.31 0.06 0.31 + 0.01 0.83 0.23 0.26 0.20 0.21 - 0.08 0.32 0.12 0.20 0.00 0.17 + 0.11 0.20 0.05 17.24 16.01 16.09 - 1.17 21.99 13.85 0.15 0.13 0.13 - 0.02 0.35 0.12 0.17 0.00 0.17 unch 0.00 0.47 0.15 0.19 0.17 0.19 + 0.02 0.27 0.14 0.24 0.21 0.23 + 0.02 0.35 0.19 0.10 0.10 0.10 unch 0.00 0.17 0.09 0.81 0.00 0.80 + 0.10 1.77 0.39 0.01 0.00 0.01 + 0.00 0.20 0.00 0.00 0.00 0.00 + 0.00 0.02 0.00 0.37 0.34 0.34 - 0.03 0.70 0.31 0.04 0.04 0.04 unch 0.00 0.05 0.02 0.07 0.00 0.07 + 0.02 0.07 0.03 0.38 0.33 0.33 - 0.05 0.65 0.13 0.25 0.18 0.24 + 0.05 0.36 0.06 0.19 0.14 0.19 + 0.04 0.24 0.06 0.13 0.00 0.13 + 0.01 0.23 0.07 0.12 0.08 0.10 - 0.02 0.15 0.04 0.35 0.31 0.32 - 0.01 0.40 0.22 0.09 0.09 0.09 unch 0.00 0.25 0.09 0.06 0.06 0.06 unch 0.00 0.15 0.04 0.45 0.40 0.40 - 0.05 0.79 0.18 0.36 0.00 0.32 - 0.03 0.62 0.32 0.75 0.71 0.71 - 0.00 0.97 0.60 0.94 0.90 0.93 + 0.02 1.29 0.77 0.39 0.29 0.33 + 0.06 0.69 0.21 0.16 0.13 0.15 + 0.02 0.61 0.13 0.26 0.00 0.26 unch 0.00 0.26 0.14 0.26 0.00 0.24 unch 0.00 0.96 0.20 0.35 0.27 0.30 - 0.05 1.05 0.18 0.07 0.00 0.07 - 0.01 0.15 0.04 0.31 0.00 0.27 - 0.01 0.32 0.21 0.39 0.32 0.34 - 0.01 0.41 0.21 0.07 0.06 0.07 + 0.01 0.07 0.04 0.03 0.03 0.03 + 0.01 0.07 0.02

W-Z Walker Lane* O 1 0.24 0.10 0.24 + 0.14 0.24 0.10 0.05 Walker River V 992 0.08 0.06 0.07 - 0.02 0.15

(100s) Stock

Week

23

12-month

Exc Volume High Low Last Change High Low

Wallbridge Mng T 355 245 War Eagle Mg V Waseco Res V 392 Wealth Mnrls V 1966 Wealth Mnrls* O 1168 O 2 Wescan Gldflds* Wescan Gldflds V 1 Wesdome Gold* O 308 T 1392 Wesdome Gold West Af Res V 125 88 West High Yld V West Kirkland V 549 West Kirkland * O 115 48 West Red Lake* O West Red Lake 56 Westcot Vent V 21 Western Areas* O 4 T 931 Western Copper Western Copper* X 1199 Western Pac Rs V 120 58 Western Pac Rs* O Western Potash T 130 Western Res* O 55 Western Troy C V 7 Western Uran 696 Western Uran* O 267 V 1299 Westhaven Vent Westhaven Vent* O 233 O 298 Westkam Gold* Westkam Gold V 533 V 220 Westminster Rs Westminster Rs* O 2 O 1217 Westmoreland* WestMountain* O 0 Whistler Gold V 0 White Gold V 88 White Gold* O 1 White Metal R* O 340 436 White Metal Rs V White Mtn Engy* O 231 O 2004 Whitehaven Coa* Whitemud Res V 73 Winston Gold 484 Winston Gold* O 430 Wolfden Res* O 640 Wolfden Res V 1237 Wolfeye Res V 395 Wolverine Mnls V 68 V 59 Worldwide Res WPC Res V 525 X-Terra Res* O 0 X-Terra Res V 115 Xander Res V 380 Xiana Mng V 40 Xiana Mng* O 5 Ximen Mng* O 9 Ximen Mng V 152 XLI Tech Inc* O 16 V 673 Xtierra Xtra-Gold Res* O 23 Xtra-Gold Res T 439 Yamana Gold T 10612 N 37041 Yamana Gold* Yellowhead Mng* O 1 V 31 Yellowhead Mng Yorbeau Res T 1734 0 You Han Data* O Zadar Vent * O 50 Zadar Vent V 190 Zara Res 30 Zena Mng V 20 Zenyatta Vent* O 22 Zenyatta Vent V 220 Zephyr Mnls* O 131 Zephyr Mnls V 124 Zimtu Capital V 67 Zinc One Res V 1072 Zinc One Res * O 512 Zincore Mtls V 23 Zonte Mtls V 137

0.07 0.06 0.07 unch 0.00 0.15 0.06 0.18 0.14 0.15 + 0.02 0.22 0.04 0.05 0.04 0.04 - 0.01 0.08 0.04 1.34 1.09 1.12 + 0.04 2.34 1.05 1.06 0.86 0.88 + 0.03 1.85 0.83 0.07 0.07 0.07 unch 0.00 0.10 0.04 0.00 0.00 0.08 unch 0.00 0.12 0.05 1.57 1.42 1.56 + 0.06 2.69 0.00 2.01 1.84 2.01 + 0.10 3.60 1.64 0.37 0.33 0.35 - 0.01 0.50 0.26 0.41 0.37 0.40 - 0.02 3.80 0.24 0.06 0.06 0.06 unch 0.00 0.09 0.06 0.05 0.04 0.05 - 0.00 0.07 0.04 0.08 0.07 0.07 + 0.01 0.20 0.06 0.09 0.09 0.09 + 0.01 0.23 0.08 0.66 0.55 0.55 - 0.10 1.09 0.04 2.61 2.47 2.47 - 0.16 2.82 1.57 1.23 1.03 1.19 + 0.11 1.76 0.92 0.95 0.80 0.93 + 0.08 1.44 0.71 0.02 0.02 0.02 - 0.01 0.03 0.01 0.01 0.01 0.01 - 0.00 0.03 0.01 0.41 0.38 0.39 - 0.02 0.60 0.37 0.32 0.30 0.30 - 0.02 0.44 0.29 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.69 0.65 0.68 + 0.01 1.65 0.54 0.55 0.51 0.54 + 0.01 1.22 0.44 0.20 0.16 0.20 + 0.01 0.20 0.08 0.16 0.13 0.16 + 0.01 0.16 0.06 0.02 0.02 0.02 - 0.00 0.04 0.01 0.03 0.02 0.03 unch 0.00 0.05 0.01 0.14 0.12 0.12 - 0.02 0.38 0.12 0.10 0.10 0.10 unch 0.00 0.28 0.10 0.16 0.13 0.14 - 0.01 7.93 0.07 3.30 0.00 3.30 unch 0.00 11.00 1.15 0.00 0.00 0.08 unch 0.00 0.08 0.03 0.85 0.75 0.80 - 0.05 2.34 0.61 0.59 0.56 0.59 + 0.03 0.73 0.53 0.07 0.05 0.06 - 0.01 0.17 0.05 0.09 0.07 0.07 - 0.01 0.24 0.03 0.00 0.00 0.00 unch 0.00 0.00 0.00 4.10 3.57 4.10 + 0.53 4.10 2.07 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.09 0.08 0.09 unch 0.00 0.09 0.03 0.09 0.04 0.08 + 0.01 0.08 0.02 0.27 0.18 0.26 + 0.06 0.56 0.10 0.35 0.23 0.32 + 0.06 0.68 0.13 1.31 1.20 1.20 - 0.01 1.64 0.49 0.10 0.08 0.09 - 0.02 0.17 0.05 0.03 0.00 0.03 unch 0.00 0.09 0.01 0.05 0.04 0.04 - 0.01 0.07 0.04 0.00 0.00 0.14 unch 0.00 0.28 0.13 0.15 0.14 0.14 - 0.01 0.39 0.13 0.17 0.00 0.16 - 0.01 0.39 0.15 0.64 0.60 0.60 + 0.05 0.66 0.08 0.54 0.49 0.49 - 0.04 0.55 0.06 0.18 0.00 0.18 unch 0.00 0.44 0.11 0.23 0.21 0.22 - 0.01 0.28 0.13 0.01 0.01 0.01 unch 0.00 0.02 0.00 0.05 0.05 0.05 + 0.01 0.08 0.02 0.21 0.17 0.21 + 0.04 0.27 0.11 0.27 0.25 0.25 - 0.01 0.36 0.18 3.77 3.55 3.61 - 0.12 4.69 2.84 2.96 2.77 2.81 - 0.12 3.80 2.21 0.17 0.17 0.17 unch 0.00 0.50 0.17 0.26 0.00 0.20 - 0.06 0.96 0.20 0.04 0.04 0.04 unch 0.00 0.10 0.04 0.00 0.00 1.10 unch 0.00 2.00 1.00 0.00 0.00 0.04 unch 0.00 0.08 0.04 0.05 0.04 0.05 unch 0.00 0.13 0.04 0.22 0.21 0.21 unch 0.00 0.24 0.08 0.09 0.09 0.09 unch 0.00 0.18 0.07 0.47 0.40 0.47 + 0.07 0.93 0.34 0.63 0.52 0.61 + 0.07 1.29 0.42 0.19 0.19 0.19 + 0.01 0.28 0.15 0.25 0.24 0.25 + 0.02 0.34 0.18 0.40 0.34 0.38 + 0.03 0.40 0.20 0.25 0.23 0.24 unch 0.00 0.72 0.20 0.19 0.17 0.19 + 0.01 0.55 0.15 0.08 0.06 0.06 + 0.01 0.35 0.03 0.22 0.21 0.21 - 0.02 0.39 0.12

BID-ASK — MAY 14–18, 2018 37 Capital African Metals Aguila Amer Gd Alba Minerals Alderon Iron* Alianza Min Allante Potash ALQ Gold Altan Rio Mnls Alto Vent AM Resources Amador Gold Amanta Res Anglo Pac Grp Angus Ventures Apogee Opport Arch Coal* Archon Mineral Argentum Silvr Arian Res Astur Gold Atlatsa Res* Atom Energy Aurelius Min Banro Corp* Bayswater Uran BC Moly BE Res Bearclaw Cap Bell Copper Bethpage Cap BHK Mining Bird River Res Black Bull Res Bluenose Gold Boss Power Brunswick Res Buffalo Coal Bullion Gld Res Bullman Mnls Cadillac Vent Cairo Res Canada One Canadian Mng Canex Energy Canoe Mng Vent Canstar Res Cassius Vents Cautivo Mining Chinapintza Mg Cicada Vents Clarmin Explor Cliffs Nat Res* Clydesdale Res CMX Gold & Sil CNRP Mng Cons Woodjam Cresval Cap Crystal Explor Curlew Lke Res Cyprium Mng Dawson Gold Desert Gold Discovery Harb Eastern Zinc Emgold Mng Empire Rock Eureka Res European Metal

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

20-23_MAY28_StockTables.indd 23

0.24 0.50 0.24 0.35 0.06 0.09 0.06 0.18 0.24 0.20 0.30 0.15 0.16 0.16 0.28 ... 0.40 0.14 0.52 0.11 0.13 0.12 0.15 0.08 0.38 0.06 0.11 0.25 0.29 0.22 0.45 0.01 0.02 0.01 0.02 0.04 0.05 0.05 0.13 0.01 0.01 0.01 0.50 0.17 0.19 0.19 0.33 0.01 0.02 0.01 1.55 ...

2.00 3.18 0.28 0.60 0.36 0.50 0.22 0.26 0.26 0.39 ... ...

0.58 1.09 1.25 1.09 1.68 0.16 0.19 0.16 0.35 0.01 0.02 0.01 0.06 0.08 0.08 0.10 ... ...

0.06 0.45 0.24 0.35 0.32 0.40 0.13 0.14 0.14 0.15 0.11 0.11 0.11 2.10 0.02 0.04 0.03 0.06 0.08 0.16 0.08 0.16 0.06 0.06 0.06 0.08 0.05 0.05 0.05 0.06 0.17 0.20 0.20 0.22 0.03 0.10 0.10 0.14 0.02 0.02 0.02 0.03 0.22 0.23 0.23 0.63 0.10 0.18 0.10 0.14 0.11 0.19 0.14 0.17 0.17 0.20 0.17 0.04 0.04 0.04 0.05 0.01 0.02 0.02 0.03 0.34 0.40 0.40 0.47 0.06 0.10 0.06 0.10 0.04 0.04 0.04 0.06 0.36 0.60 0.36 0.43 0.10 0.11 0.10 0.52 0.31 0.33 0.33 0.79 0.21 0.30 0.26 0.40 0.14 0.16 0.14 0.25 0.06 0.07 0.06 0.13 0.03 0.04 0.03 0.07 0.25 0.35 0.31 0.85 0.01 0.03 0.01 0.02 0.01 0.02 0.02 0.03 0.16 0.19 0.16 0.50 1.45 3.20 1.43 7.17 0.06 0.12 0.07 0.15 0.07 0.10 0.07 0.12 0.71 0.76 0.76 0.83 0.06 0.07 0.06 0.09 0.04 0.05 0.05 0.06 0.08 0.08 0.08 0.13 1.25 1.38 1.38 1.49 0.03 0.03 0.03 0.15 0.34 0.30 0.17 0.19 0.17 0.30 0.06 0.07 0.06 0.10 0.26 0.56 0.26 0.46 0.14 0.16 0.15 0.31 0.17 0.23 0.17 0.30 0.03 0.03 0.03 0.09 ... 0.01 0.01

0.12 0.17 0.04 0.12 0.05 0.05 0.05 0.01 0.03 0.50 0.13 1.31 0.33 0.14 0.81 0.16 0.01 0.06 0.05 0.03 0.10 0.02 0.04 0.04 0.03 0.03 0.08 0.02 0.07 0.07 0.00 0.02 0.01 0.08 0.06 0.03 0.21 0.08 0.10 0.18 0.04 0.04 0.03 0.20 0.01 0.01 0.16 0.98 0.04 0.04 0.22 0.04 0.04 0.05 0.65 0.14 0.05 0.15 0.14 0.16 0.02

Eurotin V Excalibur Res C Fieldex Expl V Finore Mng C V Fire River Gol First Idaho V Four Nines C Full Metal Mnl V Galway Gold V Gem Intl Res V Genius Props C GFM Res V Global Cobalt V Global Cop Grp V God’s Lake Res C Goldbelt Emp V V Golden Harp GoldTrain Res C Granite Ck Gld V Greatbanks Res V Grenville Gold V Halio Energy V Hawkeye Gld&Di V V HFX Holding Highbury Proj V Highvista Gold V Icon Explor V Infinite Lith V Inform Res V Interconnect V Intl Battery C Iron South Mng V V Jiulian Res Jubilee Gold V Kenna Res V Kingsmen Res V La Imperial C Lamelee Iron V Le Mare Gold V Lead Ventures C Leo Res C Lithion Energy V Logan Res V Lovitt Res V Madeira Mrnls V MAG Silver* X Malbex Res V Martina Mnls V Mas Gold V Match Capital V Metalore Res V Metron Capital V Micrex Dev V Midasco Cap V Midnight Star C MillenMin Vent V Millstream Min V Minecorp Egy V Moag Copper C Montana Gold C Mukuba Res V MX Gold V Nebu Res V Nevado Res V New Klondike V New Oroperu V Newmac Res V Norsemont Cap C North Am Ptash V

0.07 0.08 0.08 0.10 0.09 0.10 0.10 0.11 0.18 0.19 0.19 0.21 0.12 0.12 0.11 0.26 0.03 0.07 0.09 0.06 0.25 0.04 0.06 0.10 0.16 0.10 0.16 0.10 0.14 0.10 0.15 0.06 0.07 0.06 0.16 0.01 0.02 0.02 0.04 0.15 0.16 0.16 0.25 0.07 0.15 0.15 0.15 0.02 0.02 0.02 0.07 0.08 0.08 0.11 0.22 ...

0.35 0.35 0.02 0.03 0.02 0.04 0.07 0.11 0.11 0.15 0.08 0.37 0.08 0.19 0.09 0.12 0.09 0.17 0.03 0.05 0.03 0.08 0.17 0.08 0.14 0.15 0.18 0.18 0.80 0.06 0.06 0.06 0.12 0.05 0.15 0.07 0.12 0.22 0.88 0.25 0.35 ... 0.16 0.17 0.46 0.46 0.41 0.84 0.26 0.29 0.28 0.32 0.18 0.29 0.18 0.39 0.08 0.15 0.10 0.10 ... ...

0.31 0.40 0.24 0.27 0.24 0.28 0.05 0.08 0.06 0.08 0.32 0.50 0.40 0.73 0.13 0.16 0.15 0.17 0.25 0.25 0.25 0.07 0.08 0.07 0.08 0.42 0.48 0.48 0.48 0.17 0.17 0.17 2.90 0.19 0.25 0.19 0.60 1.06 1.09 1.09 1.32 ... ...

0.10 0.06 0.06 0.06 0.08 0.04 0.08 0.04 0.10 0.04 0.14 0.04 0.05 12.52 13.30 12.52 14.40 0.38 0.40 0.39 0.40 0.04 0.06 0.04 0.07 0.07 0.11 0.11 0.15 0.01 0.04 0.04 1.77 2.50 1.77 4.45 0.06 0.10 0.07 0.08 0.02 0.02 0.01 0.03 0.08 0.13 0.08 0.11 0.20 ...

0.20 0.25 0.05 0.07 0.05 0.04 0.06 0.04 ... ...

0.12 0.20 ... ...

0.08 0.09 0.10 0.10 0.10 0.23 0.23 0.23 0.25 0.11 0.11 0.11 0.22 0.04 0.04 0.04 0.05 0.04 0.04 0.04 0.05 0.01 0.01 0.01 0.33 0.40 0.33 0.55 0.07 0.08 0.07 0.09 0.38 0.45 0.40 0.47 0.05 0.08 0.04

0.04 0.01 0.12 0.19 0.02 0.08 0.08 0.05 0.01 0.12 0.01 0.04 0.04 0.01 0.01 0.06 0.08 0.08 0.15 0.05 0.04 0.22 0.03 0.12 0.07 0.05 0.30 0.04 0.02 0.35 0.10 0.04 0.15 0.17 0.06 0.99 0.04 0.02 0.02 6.12 0.30 0.03 0.05 1.77 0.05 0.01 0.05 0.08 0.07 0.02 0.06 0.08 0.04 0.02 0.28 0.05 0.31

Nubian Res Nunavik Nickel Oriental Non F Orofino Mnrls Pac Arc Res Pac Cascade Pac Imperial Pac Link Mng Pac Topaz Paget Mrnls Parana Copper Patriot Gold Phoenix Gold Prime Meridian ProAm Expl Provenance Gld Q-Gold Res Quadro Res Quantum Cobalt Quartz Mtn Res Quinto Res Rare Element* Red Tiger Mng Remington Res Rhyolite Res Riley Resource Rio Silver River Wild Exp Rockland Mnls Rockridge Res Rojo Res Rokmaster Res Romulus Res RosCan Mrnls Roughrider Exp Royal Sapphire Rubicon Mnrls* Scavo Res SGX Res Silver Phoenix Southern Arc Stockport Expl Stone Ridge Ex Surge Explor Talmora Diamd Tearlach Res Themac Res Thunder Mtn Gd Tiger Intl Tiller Res Tintina Mines Tri-River Vent Trident Gold Troy Enrgy Troymet Expl True Grit Res UC Res Upper Canyon Vale* Valencia Vent Vanadium One Vela Minerals Wabi Explor Westridge Res Winston Res Zara Res Zena Mng Zinco Mng

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

0.23 0.25 0.28 0.38 0.11 0.12 0.11 0.17 0.70 ...

1.05 1.05 0.14 0.19 0.14 0.19 0.53 0.75 0.70 0.82 0.01 0.02 0.01 0.05 0.06 0.05 0.07 0.08 0.12 0.12 0.12 0.12 0.15 0.13 0.18 0.03 0.07 0.03 0.08 0.35 0.45 0.35 0.36 0.10 ...

0.10 0.15 ... 0.01 0.01 0.12 0.15 0.14 0.03 0.04 0.04 0.04 0.16 0.20 0.18 0.40 0.10 0.13 0.10 0.30 0.06 0.08 0.06 0.18 ... ...

1.10 3.15 0.80 0.90 0.90 1.50 0.08 0.09 0.09 0.14 0.11 0.16 0.15 0.89 0.02 0.03 0.03 0.27 0.40 0.30 1.15 0.20 0.29 0.20 0.40 0.12 0.50 0.11 0.16 0.04 0.05 0.05 0.07 0.20 0.55 0.20 0.22 0.07 0.08 0.08 0.11 0.23 0.26 0.23 0.50 0.40 0.49 0.40 0.50 0.12 0.15 0.15 0.30 0.15 0.23 0.19 0.19 0.07 0.10 0.09 0.10 0.03 0.05 0.03 0.12 0.16 0.22 0.20 1.40 ... ...

0.03 1.35 0.36 0.57 0.36 0.54 0.02 0.02 0.02 0.07 0.15 0.07 0.24 0.44 0.55 0.55 0.90 0.02 0.03 0.03 0.03 0.30 0.33 0.30 0.60 0.39 0.44 0.39 0.23 0.02 0.05 0.05 0.05 0.08 0.15 0.08 0.06 0.07 0.06 0.10 0.15 ...

0.25 0.32 0.09 0.18 0.09 0.15 0.37 0.44 0.37 0.65 0.05 0.10 0.10 0.10 0.04 0.12 0.04 0.16 0.19 0.16 0.22 0.05 0.09 0.05 0.15 0.01 0.02 0.01 0.03 0.05 0.06 0.05 0.07 0.01 0.02 0.02 0.03 0.22 0.28 0.20 0.34 ... ...

10.24 11.10 0.21 0.22 0.22 0.30 0.13 0.15 0.13 0.22 0.30 0.30 0.54 0.08 0.09 0.09 0.09 0.59 0.59 0.60 0.80 0.56 0.58 0.56 0.70 0.11 0.21 0.21 0.24 0.09 0.12 0.09 0.18 0.05 0.07 0.05

0.17 0.08 0.72 0.06 0.09 0.01 0.02 0.10 0.03 0.09 0.09 0.02 0.08 0.10 0.04 0.20 0.55 0.05 0.06 0.30 0.17 0.11 0.04 0.02 0.01 0.22 0.23 0.08 0.13 0.05 0.03 0.06 0.03 0.26 0.05 0.36 0.02 0.06 0.03 0.01 0.03 0.12 0.08 0.19 0.04 0.14 0.04 0.01 0.03 0.01 0.03 6.57 0.14 0.18 0.05 0.29 0.55 0.08 0.07

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