The Northern Miner October 30 2017 Issue by The Northern Miner Group

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Pretium ramps up GOLD

| Shares up 28% on Brucejack results

BY LESLEY STOKES

COAL M&A

| Adverse developments ‘hidden’

lstokes@northernminer.com VANCOUVER

retium Resources’ (TSX: PVG; NYSE: PVG) new 8.7 million oz. Brucejack gold mine in northwestern B.C.’s Golden Triangle district is “well on its way” to becoming a 500,000 oz. per year gold producer, president and CEO Joseph Ovsenek says. During the third quarter, the company produced 82,203 oz. gold from 261,262 tonnes grading 10.52 grams gold per tonne. News of the results drove company shares up 28% to peak at $15.48, before settling to $14.98 at press time. “I’m fairly confident that our quarterly results beat the expectations on the street,” Ovsenek tells The Northern Miner during a phone interview. “There’s also a Credit Suisse research note that talked about a large short position on Pretium, and how this is forcing some of those to cover. So I expect that’s a big part of our recent share price gain as well.” In July, at the onset of the quarter, 16,882 oz. gold was produced largely from low-grade stockpiles and development muck. As the ramp-up progressed into August, the mill processed stope ore at grades of 12.36 grams gold, which led to 65,321 oz. gold production. The underground operation surpassed the mill’s nameplate 2,700-tonne-per-day capacity, hav-

‘I’M FAIRLY CONFIDENT THAT ARE OUR QUARTERLY RESULTS BEAT THE EXPECTATIONS ON THE STREET.’ JOSEPH OVSENEK CEO, PRETIUM RESOURCES

SEC charges Rio Tinto with fraud BY TRISH SAYWELL tsaywell@northernminer.com

he U.S. Securities and Exchange Commission (SEC) has charged Rio Tinto (NYSE: RIO; LON: RIO) and two of its former executives with fraud for inflating the value of coal assets the company acquired in Mozambique for US$3.7 billion in 2011 and sold for US$50 million in 2014. The SEC’s complaint alleges that Rio Tinto, its former CEO Thomas Albanese and its former chief operating officer Guy Elliott did not follow accounting standards and company policies to accurately value and record its assets. “Instead, as the project began to suffer one setback after another resulting in the rapid decline of the value of the coal assets, they sought to hide or delay disclosure of the nature and extent of the adverse developments,” the SEC noted in its Oct. 17 press release.

Flotation cells in the mill building at Pretium Resources’ Brucejack gold mine in British Columbia. PRETIUM RESOURCES

ing processed 2,840 tonnes per day during the quarter. “We’re really pleased with the way things are going and we’ll continue to ramp up at a measured pace through the quarter. We expect to be steady state at the end of the year,” Ovsenek says. During initial start-up, Pretium experienced problems with gold recoveries, largely at the mill’s gravity circuit and gold room. Ovsenek says the issues have since been resolved, and recoveries for the quarter stood at 96.5%, just shy of the 96.7% recovery stated in the company’s 2014 feasibility study. “We knew that once we got the bugs worked out of the mill, and See PRETIUM / 2

See RIO TINTO / 2 PM40069240

Gold bars produced at the Brucejack gold mine. PRETIUM RESOURCES

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SEC charges Rio Tinto RIO TINTO From 1

“Rio Tinto’s top executives allegedly breached their disclosure obligations and corporate duties by hiding from their board, auditor and investors the crucial fact that a multibillion-dollar transaction was a failure,” Stephanie Avakian, co-director of SEC’s Enforcement Division, said in a statement. Avakian’s co-director, Steven Peikin, added that “Rio Tinto and its top executives allegedly failed to come clean about an unsuccessful deal that was made under their watch. They tried to save their own careers at the expense of investors by hiding the truth.” The mining company swiftly came to its own defence. “Rio Tinto believes that the SEC case is unwarranted and that, when all the facts are considered by the court, or if necessary by a jury, the SEC’s claims will be rejected.” Separately, but in the same press release, Rio Tinto confirmed that it had reached a settlement with the U.K.’s Financial Conduct Authority in relation to the timing of the impairment of the coal company in question — Rio Tinto Coal Mozambique (RTCM). The FCA concluded that Rio Tinto should have carried out an impairment review in relation to RTCM for its 2012 interim results, and, if it had done so, those results published in August 2012 would have reflected the impairment it recorded six months later. In its ruling the FCA said the company had breached the agency’s disclosure and transparency rules, and fined Rio Tinto US$36.4 million. “The FCA made no findings of fraud, or of any systemic or wide-

spread failure by Rio Tinto,” the company pointed out in the news release, adding that the case with FCA is now closed but that the Australian Securities and Investments Commission is also reviewing the RTCM impairment. In the complaint filed in the United States District Court in the southern district of New York, the SEC noted that Rio Tinto’s acquisition in April 2011 of RTCM was Rio Tinto’s second large-scale acquisition under Albanese’s leadership, and the company “had already experienced dramatic setbacks with Albanese’s first large-scale acquisition, Alcan Incorporated. “The Mozambique acquisition was expected to restore the market’s confidence in Albanese’s deal-making acumen, but on-the-ground realities in Mozambique quickly undermined the narrative,” the claim stated. Rio Tinto acquired the coal business in April 2011 based on the notion that it could mine, transport and sell more than 40 million tonnes of coal a year by barging the majority of it down the Zambezi River to a port on the Indian Ocean, the claim stated. But by November of the same year, the company discovered that their initial assumption was unrealistic. In December, the government of Mozambique rejected Rio Tinto’s proposal to barge the coal down the river. At the same time, the company also found out that rail capacity was limited. “By the end of 2011, Rio Tinto knew that it could transport and sell only about 5% of the amount of coal it had originally assumed,” the SEC’s claim states. “Rio Tinto also learned that there was significantly less and lower-quality coal than it

“RIO TINTO RAISED A TOTAL OF US$5.5 BILLION IN U.S. DEBT OFFERINGS THAT INCORPORATED MATERIALLY MISLEADING STATEMENTS AND OMISSIONS CONCERNING [COAL MOUNTAIN’S] VALUATION.” SEC CLAIM

had assumed at acquisition.” The claim alleges that the “nature and extent” of the adverse developments were then concealed from the company’s board of directors, audit committee, independent auditors and the market. If they had been disclosed, the SEC charges, it would have triggered an impairment analysis of RTCM. “By the time problems with RTCM emerged, Rio Tinto had already impaired Alcan twice,” the claim states. “Defendants knew that impairing RTCM or publicly disclosing its rapidly declining value would call into question Albanese’s and Elliot’s ability to pursue the core of Rio Tinto’s business model — identifying and developing long-term, low-cost and highly profitable mining assets.” According to the claim, in May 2012, RTCM executives advised Albanese and Elliott that the valuation

Core samples at Riversdale Mining’s Benga coal project in Mozambique, prior to Rio Tinto acquiring the business in 2011. RIVERSDALE MINING

of the coal company and its assets was negative US$680 million, and yet, “Rio Tinto continued to carry RTCM on its books at a value of more than US$3 billion and [the] defendants continued to promote RTCM’s prospects to the market. “Their misconduct paid off,” the claim continues. “Rio Tinto raised a total of US$5.5 billion in U.S. debt offerings that incorporated materially misleading statements and omissions concerning RTCM’s valuation. Of that amount, Rio Tinto raised approximately US$3 billion in an offering initiated soon after Albanese and Elliott learned of RTCM’s negative US$680-million valuation. Each of the debt offerings took place only days after Rio Tinto released misleading financial information to the market. Publicly, Rio Tinto continued to value RTCM at more than US$3 billion for the relevant period.” The claim states that the two executives “misrepresented and inflated” RTCM’s value until December 2012,

at which point an employee of the company “outside the normal financial control function” discovered that “the true nature and effect of adverse RTCM developments was being hidden from the Board of Directors and that RTCM was being carried at an inflated value on Rio Tinto’s financial statements.” The employee went around Albanese and Elliott, taking his findings directly to the chairman of the board, which triggered an internal review and impairment process for the asset. The chairman asked the board to dismiss Albanese as CEO. By January 2013, the company had announced it was impairing RTCM’s carrying value by more than US$3 billion — more than 80% of RTCM’s value less than two years after it was purchased. Elliott stepped down as chief financial officer in April 2013. After a second writedown of RTCM in 2014, Rio Tinto sold it for just US$50 million — less than 2% of the original US$3.7-billion acquisition price. TNM

Pretium ramps up PRETIUM From 1

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started mining stope ore, the grades and recoveries would increase,” he says. “By the end of this year, we expect to be in a position to give guidance that is within the range of 14.5 grams gold — our proven reserve grade — plus or minus 10–20%.” Brucejack’s Valley of the Kings (VOK) deposit contains 8.1 million oz. gold in 15.6 million proven and probable tonnes of 16.1 grams gold. The West Zone deposit, which is located north of the VOK and is part of the current mine plan, contains 2.9 million proven and probable tonnes of 6.9 grams gold for 600,000 oz. gold. Pretium expects to produce 504,000 oz. gold annually for the first eight years of the mine’s 18-year mine life, at an all-in sustaining cash cost of US$446 per oz. gold.

PRETIUM EXPECTS TO PRODUCE 504,000 OZ. GOLD ANNUALLY FOR THE FIRST EIGHT YEARS OF THE MINE’S 18-YEAR MINE LIFE, AT AN ALL-IN SUSTAINING CASH COST OF US$446 PER OZ. GOLD. A feasibility study estimated Brucejack would have a US$1.53billion after-tax net present value and a 28.5% after-tax internal rate of return, assuming US$1,100 per oz. gold. Much of Pretium’s attention is on mining, but exploration across the company’s 1,210 sq. km property is still on the company’s agenda, Ovsenek says. Results of a reconnaissance program are expected by year-end, he adds. “We had a late snowmelt in the

areas where we wanted to work, so we didn’t get on the ground until July, and never got the chance to drill. So we’ll go back to those areas next year,” he says. “We have a huge piece of land so the best thing we can do is put more time into exploring it. We have some nice prospects, but it’s still very early days.” Pretium shares have traded within a 52-week range of $9.17 to $16.48 per share, and at $14.98 at press time. The company has 181.5 million shares outstanding for a $2.7-billion market capitalization. TNM

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Inside the mill building at Pretium Resources’ gold mine in British Columbia. PRETIUM RESOURCES

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THE NORTHERN MINER / OCTOBER 30–NOVEMBER 12, 2017

Commerce pushing for Canada’s first rare earth mine QUEBEC

| Nunavik site contains total resource of 250 million tonnes

BY RICHARD QUARISA rquarisa@northernminer.com

ancouver-based Commerce Resources (TSXV: CCE; USOTC: CMRZF) is trying to confirm the feasibility of what could be the first large-scale rare earth element (REE) mine in Canada and one of the most significant outside of China. The company is raising money to develop its wholly owned Ashram property, 130 km south of the town of Kuujjuaq in the Nunavik area of northern Quebec. The property has a measured resource of 1.6 million tonnes at 1.77% total rare earth oxides (TREO), an indicated resource of 28 million tonnes at 1.90% TREO and an inferred resource of 220 million tonnes at 1.88% TREO. Before 2005, Commerce had little interest in REEs and was focused on tantalum and niobium. Only after talking to a friend did company president Chris Grove consider looking for REE deposits. “That’s when I got this phone call from this Texas-based magnet manufacturer who then said: ‘You should go and reassay your drill core at your project in British Columbia.’ And I said, ‘Why would I want to do that?’ And he goes, ‘Rare earth elements,’ and I said, ‘I still don’t get it.’” At the time, as is the case now, China had a real command of the REE market. As Grove puts it, few even looked for rare earth elements outside of China because China would likely put them out of business. But when China put an export tax on REEs in 2005, they inadvertently ignited interest in finding alternate sources. Commerce’s search eventually led out of B.C. and into Quebec. “We sent our guys out and they were looking for rare earth elements and niobium at the same time,” Grove says. “So we did a bunch of drilling in 2008 and 2009, and it was in the sampling season of 2009 that we found the Ashram outcrop.” A 2012 preliminary economic assessment of Ashram projected the company could mine 4,000 tonnes per day from an open pit with a 0.2-to-1 stripping ratio over

Metals trader Kazuo Machida at Commerce Resources’ Ashram REE project in Quebec’s Nunavik region. COMMERCE RESOURCES

a 25-year mine life, and annually produce 16,850 tonnes of rare earth oxide (REO). The study estimated a $763-million capital cost, with operating costs of $95.20 per tonne treated and $7.91 per kilogram REO produced. The study a lso estimated a $2.3-billion pre-tax net present value at a 10% discount rate, a 44% pre-tax internal rate of return and a 2.25-year payback. This was based on a 10% REO at 75% recovery. With more metallurgical work, Commerce expects to produce at least 45% REO at 70% recovery. Commerce appears to have strong support at the provincial level. The government of Quebec became the company’s biggest shareholder in February 2017 after investing $1 million. Groves hopes the government exercises its warrants to add another $1.5 million. And then there are the indigenous groups in the Nunavik area,

A drill site on Commerce Resources’ Ashram REE project in 2011. COMMERCE RESOURCES

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primarily the Inuit. Grove says that the James Bay Agreement simplifies indigenous relations. “Everything is codified in a way that no other jurisdiction in Canada is, so basically all of the steps are set forward as to how to do the consultation. There are basically no wild cards out there. And ultimately we’ve always hired from the Inuit, we always expedite out of Kuujjuaq.” Ashram would feature an openpit mine with a processing plant onsite. Flotation concentrate would be

transported north of the facility on a proposed 180 km haul road to an as-yet unbuilt barge facility near Ungava Bay. The total cost for the haul route and barge facility has been estimated at $195 million or less. Concentrate would then be sailed up the St. Lawrence River for processing at a hydrometallurgical facility. A nice by-product of the process would be the production of fluorspar. With more processing, f luorspar could be converted to met-spar or acid-spar. Acid-spar

is considered the premium f luorspar product and accounts for two-thirds of the global market. It’s used mainly in aluminum and hydrof luoric acid production. It could also be produced at no additional cost, because it occurs naturally from the primary REE recovery process. Commerce sees value in supporting the industry it looks to profit from in what Groves calls a “holistic way.” “The reality is that rare earth elements are then used in green tech, and so logically we should use as much green tech as possible to increase the demand for rare earth elements, but that is what we are interested in as well. “Our goal is basically to have a fully electric mine, electric mining vehicles, induction charging plates to recharge the vehicles, and potentially even bringing the PSO electric roads, potentially just around the mine site where you’ve got the mining trucks and you will get the best bang for your buck in terms of capturing that power.” Commerce wants to establish an office in Quebec City, update the deposit’s resource estimate and propose a location for the hydrometallurgical facility. “Our goal is to finish the pilot plant and finish the production of all of the samples for all the potential joint-venture partners that have expressed an interest in our material, with the hope that one of them finds it attractive to enter into a project-level investment, putting in the capital that will then allow us to finish the prefeasibility and the bankable feasibility study.” Commerce has a $23-million market capitalization. Shares are valued at 8¢. TNM

Miners dismiss Marc Faber as director after racist comments CSR

| Sprott, Ivanhoe swiftly condemn remarks in Doom newsletter

BY TRISH SAYWELL

tsaywell@northernminer.com

prott Inc. (TSX: SII), Ivanhoe Mines (TSX: IVN; USOTC: IVPAF) and NovaGold Resources (TSX: NG; NYSE-AM: NG) have ejected Marc Faber from their boards after the Asia-based investment pundit penned racist comments in the October issue of his newsletter, The Gloom, Boom & Doom Report. The Swiss economist and investor was weighing in on controversy in the U.S. about whether monuments commemorating Confederate military leaders in the U.S. Civil War should be torn down. “I don’t want to enter into a serious discussion about the tearing down of monuments of historical personalities, but I cannot omit mentioning how the liberal hypocrites condemned the Taliban when they blew up the world’s two largest standing Buddhas (one of them 165 feet high), situated at the foot of the Hindu Kush mountains of central Afghanistan, in 2001,” Faber wrote. “But the very same people are now disturbed by statues of honourable people, whose only crime was to defend what all societies had done for more than 5,000 years: keep a part of

the population enslaved.” “And thank God white people populated America, not the blacks,” he continued. “Otherwise, the U.S. would look like Zimbabwe, which it might look like one day anyway, but at least America enjoyed 200 years in the economic and political sun under a white majority. I am not a racist, but the reality — no matter how politically incorrect — needs to be spelled out.” Reaction to Faber’s comments was swift. In a news release, Sprott Inc.’s CEO, Peter Grosskopf, said Faber’s remarks “are deeply disappointing and are completely contradictory with the views of Sprott and its employees. “We pride ourselves on being a

diverse organization and comments of this sort will not be tolerated. We are committed to providing an inclusive workplace for all of our employees and we extend the same respect to our clients and advisors.” Ivanhoe Mines, whose principal projects are in South Africa and the Democratic Republic of the Congo, said in a statement that “there is zero tolerance for racism.” “Ivanhoe Mines disagrees with, and deplores, the personally held views about race that Marc Faber has published in his current investment letter,” the company stated. NovaGold announced Faber’s resignation as a director in a onesentence press release with no comment. TNM

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Progressive Mine Forum a maelstrom of ideas CONFERENCE

| Iamgold CEO Letwin recalls his “Mick Jagger” moment, lessons from Jack Gallagher

careful implementation of innovative technology and management techniques is key to thriving in the mining industry in the decades to come. That was the message from many speakers, panelists and delegates at the inaugural Progressive Mine Forum presented by The Northern Miner on Oct. 23 in Toronto. The forum sponsors included IBM, PearTree BY JOHN CUMMING Securities, PwC Canada, Rio Tinto, Hard-Line, jcumming@northernminer.com Major Drilling, Hatch and MacLean Engineering. The event location itself represented the ideals of the day: the carefully restored Art Moderne-style Carlu concert hall and banquet facility, which was one of North America’s premiere concert and party venues from its opening in 1931 through the 1960s. It lay shuttered and almost forgotten by the public from 1976 until its grand reopening with modern amenities in 2003. Iamgold president and CEO Stephen Letwin kicked off the day with an impassioned, personal speech that underscored the hard business lessons to embrace innovation and fight off complacency. He recalled a searing moment at age 26 in the oilpatch in Calgary, when he witnessed the “Elon Musk-like” wunderkind Jack Gallagher at age 65 weeping uncontrollably in his boardroom after losing a company he’d spent 33 years building from a one-man operation into one of Canada’s largest companies. This “superhuman being,” Letwin said, had “fallen in love with his own equity” and let his company take on far too much debt, ultimately leaving it unable to withstand a downturn in oil prices, high interest rates and technical changes in the industry that affected costs. “The lesson there is: you can never forget about basic economics, you can never forget about your cost structure, and you can never, ever forget about what innovation and the change in technology can do to your business,” Letwin said. “It’s happening today, it happened a hundred years ago, and it’s going to continue every day, every month, every year, forever. As human beings, it’s easy to forget that.” But Letwin admitted he succumbed to his own version of complacency in his first couple of years in the gold business starting at Iamgold in 2010, as the miner’s stock price had risen from US$3 in 2008 to more than US$23.50 in 2011. “I felt like Mick Jagger,” he joked. He recalled how at analyst meetings in that era, “I wasn’t asked one question about cost structure, technology or where you were drilling. It was all about ounces, ounces, ounces. ‘Tell me how many ounces you’re going to add.’ “The ghost of Jack Gallagher should have been in the room with me, saying, ‘Steve, it’s time you change, because what these guys are driving you to is exactly what they drove me to: failure.’ And that’s exactly where I was headed.” The subsequent tumble in gold prices and Iamgold’s share price below US$1.50 over the next four years was as bracing for Letwin as the rise had been heady. It was a “horrifying experience, we could have almost lost the company.” He said a couple of things saved the company. “I woke up, slapped myself across the face and said: ‘What the hell are you doing?’ We sold some assets, kept the balance sheet strong, reduced our debt and brought people like Tony Moreau — a 33-year-old guy with lots of good ideas around technology and innovation — into the company. We changed the whole company from being focused on long-cycle to a short-cycle balance, which brought cash flow in sooner, brought our cost structure down, and at the same time improved our balance sheet.” Letwin recalled attending the Denver Gold Forum during the worst years: “People who had bought Iamgold shares would walk by and look at the ground. They didn’t want to look at me. Loser. The worst thing you can do in life is lose somebody’s money. They are unforgiving. Unforgiving. Remember that.” In the days and weeks ahead, keep an eye out for our full coverage of the Progressive Mine Forum, in print, online and on our weekly podcast. TNM

DEPARTMENTS Editorial. . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Metal Prices. . . . . . . . . . . . . . . . . . . . . . . . . 9

Professional Directory . . . . . . . . . . . . . . . 14 Stock Tables. . . . . . . . . . . . . . . . . . . . . . 8-12

COMPANY INDEX Agnico Eagle Mines . . . . . . . . . . . . . . . . 5,6 AngloGold Ashanti. . . . . . . . . . . . . . . . . . . 6 Barrick Gold . . . . . . . . . . . . . . . . . . . . . . . . 6 Candelaria Mining . . . . . . . . . . . . . . . . . . . 5 Commerce Resources. . . . . . . . . . . . . . . . . 3 Dalradian Resources. . . . . . . . . . . . . . . . . 15 Eldorado Gold. . . . . . . . . . . . . . . . . . . . 6,15 First Mining Finance . . . . . . . . . . . . . . . . 13 Fortuna Silver Mines . . . . . . . . . . . . . . . . . 7 Gold Fields. . . . . . . . . . . . . . . . . . . . . . . . . . 6 Goldcorp . . . . . . . . . . . . . . . . . . . . . . . . 6,15 Hecla Mining. . . . . . . . . . . . . . . . . . . . . . . 15 Iamgold . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Ivanhoe Mines. . . . . . . . . . . . . . . . . . . . . . . 3

Kinross Gold . . . . . . . . . . . . . . . . . . . . . . . . 6 Newcrest Mining. . . . . . . . . . . . . . . . . . . . . 6 Newmont Mining . . . . . . . . . . . . . . . . . . . . 6 Nova-Gold Resources. . . . . . . . . . . . . . . . . 3 Paulson & Co. . . . . . . . . . . . . . . . . . . . . . . . 6 Polymetal. . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Pretium Resources . . . . . . . . . . . . . . . . . . . 1 Randgold Resources. . . . . . . . . . . . . . . . . . 6 Rio Tinto . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Sprott Inc.. . . . . . . . . . . . . . . . . . . . . . . . . . 3 Tahoe Resources . . . . . . . . . . . . . . . . . . . . . 5 Tocqueville Asset Management. . . . . . . . . 6 Yamana Gold. . . . . . . . . . . . . . . . . . . . . . . . 6

Panelists at the Association for Mineral Exploration’s latest Speaker Series in Vancouver, from left: Michael Gray, mining analyst at Macquarie Capital Markets; Rosie Moore, consulting geologist and analyst; Bart Melek, global head of commodity strategy at TD Securities; and Zara Boldt, CFO at Strongbow Exploration. AME

Successful juniors communicate well, AME panel says MARKETING

| Promote a company’s people above all, panelists advise

BY LESLEY STOKES lstokes@northernminer.com VANCOUVER

panel of mining executives speaking at the Association for Mineral Exploration’s latest Speaker Series event before a crowd of more than 100 in downtown Vancouver in early October offered tips to budding junior mining companies on how they can improve their communication skills and strategies. The panelists were: consulting geologist and analyst Rosie Moore; Zara Boldt, chief financial officer of Strongbow Exploration (TSXV: SBW); Michael Gray, mining analyst at Macquarie Capital Markets; and Bart Melek, global head of commodity strategy at TD Securities. The initial focus of conversation was the quality and content of company presentations. “Analysts and investors love to be spoon-fed information because they’re very busy and you’re competing for their attention,” Moore said. “If you can’t tell your story and elicit the hand-to-wallet reaction in 45 seconds, you need to be more clear and concise. “Those 12 to 15 slides in your full presentation can make or break whether someone will buy the company, so spending time making a good presentation, or getting a group to do it for you, can pay off.” She suggested presentations should cover what she called the “six Ps”: people, paper, price, project, promotion and patience. “People are the most important — it’s a risky industry and the people mitigate the risk,” Moore said. Boldt agreed that a reputable team with a strong track record can overcome many challenges. “I used to think the quality of the project was the most important, but having been around a number of great teams, I would now say people are,” Boldt said. “You can go a long way if you have people you trust.” However, Moore cautioned that there have been instances in her career when she was approached by successful people in the industry who were in fact cashing in on their reputations to over-promote less-than-stellar projects. “They made their money and weren’t hungry anymore, but they had three or four companies they were happy to sell me. They were taking salaries and options from these companies and I thought

“YOU WANT INVESTORS TO REMEMBER YOU AND SAY, ‘I’D TAKE A MEETING WITH THAT CEO ANY DAY OF THE WEEK.’” MICHAEL GRAY MINING EQUITIES ANALYST, MACQUARIE CAPITAL MARKETS

it was distasteful,” Moore said. “I want to see a focused person — someone who is hungry and dying to make a discovery or put a project in production.” Regarding a company’s share structure and financing arrangements, Moore said she prefers an explanation of a company’s share structure be closer to the front of the presentation, and she wants to see a good split between institutional and retail ownership, with management holding 15–20%. The clarity of a company’s geological model can also make an impact on investors, Boldt said, but she warned companies to not get too technical. “Many investors don’t have a geological background, so if you have something technical to present, put it in the appendix,” Boldt suggested. “You don’t want something technical to make up the meat of the presentation — it won’t be understood.” However, a good technical overview of a project is critical when a company is pursuing financing, she continued. “Usually the groups doing the due diligence are given a resource model and they go back to the company with questions. But now they sit down with the company geologists so they can understand the assumptions and how the company came to their conclusions. And that’s much better than just giving someone a model,” Boldt said. Moore recommends that a company compare its presentation with those of its competitors and “dissolve it down to the very basic and best slides.” Gray from Macquarie added that it is important for a company to “be consistent with deliverables. Doing what you say you’re going to do sounds straightforward, but investors have a scorecard and they See AME / 15

2017-10-24 6:38 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / OCTOBER 30–NOVEMBER 12, 2017

Candelaria Mining dodges politics at Caballo Blanco in Mexico GOLD

| Withdraws environmental impact assessment application until after elections in 2018

BY TRISH SAYWELL

tsaywell@northernminer.com

fter acquiring the Caballo Blanco project in the Mexican state of Veracruz a little more than a year ago, Candelaria Mining (TSXV: CAND) prepared a new environmental impact assessment (MIA) for the gold project and worked closely with the surrounding communities and the local, state and federal governments. The junior submitted the MIA to the Mexican environmental authority, or SEMARNAT, this July, but in a surprising and unusual move, retracted the MIA in the first week of October. In a brief, two-paragraph press release, the company said it had decided to retract the application for the environmental permit “due to the current political environment and upcoming state and federal elections.” In a prepared statement, CEO Curtis Turner said: “We are still optimistic about the Caballo Blanco project going forward and continue to have good, open dialogue at all levels of the government and communities.” He also said that postponing the permit application “will allow Candelaria to optimize certain aspects of the project and improve upon existing, and establish new relationships with our stakeholders.” In an email response to requests from The Northern Miner for comment and the reasoning behind the retraction, Turner said that “unfortunately for Candelaria,” the term of the current governor of the state of Veracruz only lasts two years, because the federal government is aligning elections for state governors and the president to fall on the same date. The next elections will take place in mid-2018, at which time the next governor of Veracruz will be elected to a six-year term. “The short-term nature of this current term did not create the best environment for long-term decision making and relationship building,” Turner said. “The various political parties are selecting candidates and establishing platforms at the federal, state and local levels. Mining is a sensitive subject in many areas, including Veracruz, and in an effort to not make mining or our project a political issue, we have decided to retract our [application for] permits until the election cycle is complete. We are still confident that our project has and will have support. In essence, we have decided to take a short-term pause to provide a better long-term basis for the project.” The company has not retracted a pending application for a 7,500-metre, phase-one drill program, however. The drill program will probe several targets identified outside of the La Paila resource area at the open-pit heap leach project. Caballo Blanco is next to the Gulf of Mexico, 65 km northwest of the port city of Veracruz. “We have good relationships with the current elected officials at the municipal and state level,” Turner noted. “However, as mentioned, as the election process is starting up, it will be important to become familiar with the various candidates and gain insights into their views and understanding of mining, with the desire to educate them about the benefits of mining and our project.” Turner said the retraction had nothing to do with recent comments from Veracruz’s Secretary of Economic Development, Alejandro Zairick, who said that “if a [mining] project breaks any laws, and if it re-

1-7,13,15_OCT30_Main .indd 5

Workers sampling at Candelaria Mining’s Caballo Blanco gold project in Veracruz, Mexico. CANDELARIA MINING

“MINING IS A SENSITIVE SUBJECT IN MANY AREAS, INCLUDING VERACRUZ, AND IN AN EFFORT TO NOT MAKE MINING OR OUR PROJECT A POLITICAL ISSUE, WE HAVE DECIDED TO RETRACT OUR [APPLICATION FOR] PERMITS UNTIL THE ELECTION CYCLE IS COMPLETE.” CURTIS TURNER CEO, CANDELARIA MINING

ally damages the environment, as determined by the experts, surely it will not be allowed.” “To our knowledge there has not been a statement by Mr. Zairick, or the Governor, that mining should not be allowed,” Turner continued. “That being said, mining is a federally regulated process and mining rights are federal in nature. Permits are granted at the federal and municipal level and we are confident that the Caballo Blanco project does not break any environmental laws nor causes any damage to the environment and meets or exceeds the environmental requirements, as established by SEMARNAT.” When asked if the company intends to make any changes to its MIA before resubmitting it after the next elections, Turner said: “At this time we do not anticipate the need to make any changes to the permitting documents.” In the meantime, he says, Candelaria will finish an infill drill program within the current resource and undertake “additional metallurgical testing at some point in the future, and have several highpriority drill targets that have the potential to be incorporated into future studies.” Caballo Blanco has 521,000 oz. gold and 2.17 million oz. silver in the indicated category (31.2 million tonnes grading 0.52 gram gold per tonne and 2.16 grams silver), and inferred resources of 95,000 oz. gold and 590,000 oz. silver (8.63 million tonnes grading 0.34 gram gold and 2.14 grams silver). The resource is constrained within a conceptual open pit, using gold and silver prices of US$1,150 per oz. and US$21 per oz., at a cut-off grade of 0.11 gram gold. Mineralization is open to the north and south along trend and at depth. In June, Candelaria closed a $9.7-million strategic investment by Agnico Eagle Mines (TSX: AEM;

NYSE: AEM), whose vice-president of exploration, Guy Gosselin, told The Northern Miner that Caballo Blanco has similarities with Agnico’s La India mine in Sonora, 200 km

east of Hermosillo. La India started commercial production in February 2014. “[Caballo Blanco] is shallow and they have identified some good tar-

gets,” Gosselin said in an interview at the time of the investment. “This is why we believe that with more exploration it could become a more sizeable deposit, so it was a good early-stage opportunity for us. It’s an oxidized system, having a good strip ratio per metre. It just needs to get bigger.” Two large, epithermal gold-mineralization zones have been found called the Northern Zone and the Highway Zone. The two zones lie along a north–south linear trend over a distance of more than 9 km, and include the La Paila discovery on the north end of the trend in the Northern Zone. The Northern Zone is 4 by 5 km and the Highway Zone is 4 by 2 km in area. The deposit is oxidized to a depth of at least 300 metres and the gold mineralization is very fine, occurring within a vuggy and brecciated silica alteration of an original andesite host rock in the upper levels of the surrounding epithermal system. Candelaria picked up the Caballo Blanco project from Timmins Gold (now Alio Gold [TSX: ALO; NYSEAM: ALO]) for US$17.5 million. The project has been worked on by a number of mining companies in the past, including Almaden Minerals (TSX: AMM), Comaplex Minerals, Canadian Gold Hunter/NGEx Resources (TSX: NGQ; US-OTC: NGQRF), Goldgroup Resources and Timmins Gold. In June, Candelaria appointed Turner as its CEO. The mining executive has spent many years of his career in Mexico, where he has overseen permitting and technical work. Before joining Candelaria he worked as corporate development officer for Argonaut Gold (TSX: AR). TNM

Helicopter attacked in mid-air at Tahoe’s Escobal SILVER

| Unable to restart mine in Guatemala due to road blockade

BY TRISH SAYWELL tsaywell@northernminer.com

helicopter carrying supplies to Tahoe Resources’ (TSX: THO; NYSE: TAHO) silver mine in Guatemala was attacked by small-arms fire from the ground, and the pilot had to make an emergency landing after a bullet pierced the tail near the rear rotor blade. The incident was reported in a local newspaper and the company confirmed the attack in an email response to questions from The Northern Miner. The helicopter was being used to supply material for the company to keep its environmental mitigation commitments when the pilot was forced to land on Tahoe’s concessions, the company said. “Any violence against our employees, contractors and communities is unacceptable, and we condemn this act in the strongest possible terms,” Edie Hofmeister, the company’s executive vicepresident of corporate affairs and general counsel, wrote in an email. “This situation must be resolved peacefully and in accordance with the law to ensure the safety of our employees and all members of the community.” The attack is the latest in a string of challenges the mining company is facing in Guatemala. Tahoe has been unable to re-

“THIS SITUATION MUST BE RESOLVED PEACEFULLY AND IN ACCORDANCE WITH THE LAW TO ENSURE THE SAFETY OF OUR EMPLOYEES AND ALL MEMBERS OF THE COMMUNITY.” EDIE HOFMEISTER EXEC VP, CORPORATE AFFAIRS, AND GEN, COUNSEL, TAHOE RESOURCES

start operations at Escobal due to a blockade of a municipal road that leads to the mine. In addition, the company’s annual export permit to ship metal concentrate has expired. Until mining operations resume, the company has said, it cannot access US$75 million of its US$300million revolving-credit facility, and may continue to be subject to events of default. In July, the Supreme Court suspended Escobal’s mining licence until it could hear an action brought by a non-governmental organization with the abbreviation CALAS against Guatemala’s Ministry of Energy and Mines (MEM). CALAS had filed a claim in May alleging that MEM violated the Xinca Indigenous Peoples’ right of consultation before a licence was granted to Tahoe’s flagship mine. In September, the Supreme Court reinstated the mining licence for Tahoe’s subsidiary,

Minera San Rafael. But the court also ordered MEM to conduct consultations with the Xinca indigenous communities within a certain geographic area and report results of these meetings back to the court within a year. Tahoe is seeking clarification from the court on the specific geographical departments that need to be included within the scope of MEM’s consultations. Although the mining company says the MEM complied with ILO Convention 169 (which guarantees the rights of Indigenous Peoples) before it issued the Escobal licence, it says it will support MEM “in any of its future indigenous engagement and will encourage MEM to involve independent ILO 169 experts to assist in this process.” At press time shares of Tahoe were trading at $6.53 apiece. The company’s shares have traded within a 52-week range of $5.31 (August 2017) to $16.91 (November 2016). TNM

2017-10-24 6:32 PM

WWW.NORTHERNMINER.COM

OCTOBER 30–NOVEMBER 12, 2017 / THE NORTHERN MINER

Paulson & Co. aim to stop ‘serial value destruction’ GOLD

| Hedge fund’s Marcelo Kim calls on gold companies to join coalition to improve performance

BY TRISH SAYWELL

tsaywell@northernminer.com

n analysis of 13 of the largest publicly listed gold companies shows that total shareholder returns have been “dreadful” since 2010 and management must be made accountable, Marcelo Kim, a partner at Paulson & Co., declared in a presentation at The Denver Gold Forum. Kim and his team at the New York hedge fund are building a coalition called the Shareholders’ Gold Council in an effort to influence and improve the performance of gold companies when it comes to matters ranging from poor mergers and acquisition (M&A) decisions and exorbitant CEO compensation to board appointments. Kim noted that while the gold price has gone up 20% since 2010, average total shareholder returns from investments in the top-13 gold producers underperformed the gold price by 65%. The sobering reality of gold equities, he said, is that economic returns have been value destructive. In addition, industry returns on capital have been lower than the cost of capital, cumulative impairments since 2010 have totalled US$85 billion, and an analysis of M&A suggests “serial value destruction.” “There’s nothing in my presentation that a lot of people don’t know already, but sometimes someone has to make a push, and we hope to be that driving force,” Kim says in a telephone interview from Denver. “We’re trying to build an ISS-like structure backed by investors that gives its recommendations in one voice. If companies know the views are coming from a group backed by major shareholders, they’ll have to listen — and listen very carefully — to what is being said.” The council also wants boardroom conversations to be more open to owners. “We need to make sure the owners of the business know exactly

Equipment in the pit at Polymetal’s Varvara gold mine in northwest Kazakhstan. POLYMETAL

“WE’RE TRYING TO BUILD AN ISS-LIKE STRUCTURE BACKED BY INVESTORS THAT GIVES ITS RECOMMENDATIONS IN ONE VOICE. IF COMPANIES KNOW THE VIEWS ARE COMING FROM A GROUP BACKED BY MAJOR SHAREHOLDERS, THEY’LL HAVE TO LISTEN — AND LISTEN VERY CAREFULLY — TO WHAT IS BEING SAID.” MARCELO KIM PARTNER, PAULSON & COMPANY

what’s going on, and want to make sure that major deals are brought to shareholders. In this way, great management teams can run the best companies.” Kim pointed out in his presenta-

tion that US$36 billion was spent in eight of the largest M&A deals between 2010 and 2016. All of them are still cash-flow negative to the tune of $1.7 billion, and 80% of the transaction value has been impaired.

Returns on investment from major gold producers since 2010, as of Sept. 20, 2017. Gold Fields return includes spin-off of Sibanye. GDX is the VanEck Vectors Gold Miners ETF SOURCE: PAULSON & CO., BLOOMBERG

1-7,13,15_OCT30_Main .indd 6

The eight M&A deals Kim is referring to were: Lihir Gold and Newcrest Mining (ASX: NCM); Equinox and Barrick Gold (TSX: ABX; NYSE: ABX); Red Back and Kinross Gold (TSX: K; NYSE: KGC); Osisko Mining and Agnico Eagle Mines (TSX: AEM; NYSE: AEM) and Yamana Gold (TSX: YRI; NYSE: AUY); Andean Resources and Goldcorp (TSX: G; NYSE: GG); European Goldfields and Eldorado Gold (TSX: ELD; NYSE: EGO); Fronteer Gold and Newmont Mining (NYSE: NEM); and Sino Gold and Eldorado Gold. Kim also pointed to poor investments during the same period that resulted in collective writedowns of US$85 billion. Despite the poor returns, cumulative CEO pay from 2010 to 2016 reached US$550 million. Only two companies reported positive shareholder returns from 2010 to 2016: Randgold Resources (LON: RRS; NASDAQ: GOLD) and Polymetal (LON: POLY). The rest posted negative shareholder returns: Iamgold (TSX: IMG; NYSE: IAG), AngloGold Ashanti (NYSE: AU), Gold Fields (NYSE: GFI), Newcrest, Barrick, Kinross, Agnico Eagle, Goldcorp, Yamana, Eldorado Gold and Newmont. Gold equities since 2010 have severely underperformed the gold price. While gold has gone up 20%, the GDX is down 45% and the GDXJ is down by 58%. GDX is one of the most popular funds in the global gold-mining segment, while GDXJ covers precious metals companies below the market capitalization cutoff for GDX, primarily the juniors. “You get some companies that do generate very good returns and oth-

ers that don’t, so we want as shareholders to be a part of a group where we can work with our management teams and boards to improve businesses. At the end of the day, that’s what this is. It’s not to get upset about how bad the results have been, it’s, ‘What do we do about it?’” John Hathaway of Tocqueville Asset Management is already onboard with the idea of creating the coalition, Kim says, and Kim will pitch the idea to other fund managers in meetings in Toronto and London. “A lot of other investors came up to me after my presentation and said: ‘This is what we need — we needed someone to spearhead the effort ... let’s do something about it because if we don’t, we’re setting ourselves up for disaster, because we’ll just keep getting the same results over and over again.’” But Kim also cast blame on investors themselves, who have failed to kick up much of a fuss over the value destruction in the industry. “Guys, we’re to blame, too,” Kim says. “Every year companies have their AGMs, and every year no one shows up and says anything. We don’t do anything about it, so it’s time to do something about it. “The conclusions I have presented are not a blanket indictment of the industry,” he adds. “There are a lot of genuine wealth creators — and we want to encourage them to work with us and align with us. So for anyone, investor or corporate, who wants to create long-term value, I say, join us.” Marcelo Kim’s slide presentation “Gold Equities: Myths, Dreams and Reality,” can be accessed at www. northernminer.com/wp-content/ uploads/2017/09/paulson-1.pdf

2017-10-24 6:32 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / OCTOBER 30–NOVEMBER 12, 2017

A drill site on Fortuna Silver Mines’ Lindero gold project in 2014, when it was owned by Goldrock Mines. The project is 260 km west of the city of Salta, in northwestern Argentina. GOLDROCK MINES

Fortuna Silver OKs Lindero construction

ARGENTINA BY RICHARD QUARISA

rquarisa@northernminer.com

ortuna Silver Mines (TSX: FVI; NYSE: FSM) has greenlit construction of an open-pit heap leach mine at its 100% owned Lindero porphyry gold project, 260 km west of the city of Salta, in northwestern Argentina’s Salta province. Fortuna acquired Lindero when it bought the property’s previous owner, Goldrock Mines, for US$129 million in shares in July 2016. Fortuna’s share price has declined steadily since, descending from $11.80 per share in August 2016 to $5.60 on Oct. 2. But with an approved environmental impact study and all major construction permits in hand, the company is looking to finally prove the full value of its property. “The timing for the acquisition was great,” Fortuna president and CEO Jorge Ganoza said during a September presentation at the Denver Gold Forum in Colorado

| Open-pit heap leach mine to produce 92,000 oz. gold annually

Springs. “It was a bad market. It remains a difficult market. And I believe that in this difficult market investors are sitting, waiting, for us to push this project forward. “Sometimes we get complaints from the bankers because they don’t see us as very aggressive, doing acquisition after acquisition. No. We take our time, we look for the right asset and then we move. Lindero is a good example of that. It’s a transformational asset for us.” Fortuna expects to produce an average 96,000 oz. gold annually at Lindero for a total 1.3 million oz. over a 15-year mine life with a 1.2-to-1 strip ratio and head grade of 0.62 gram gold per tonne. Over the first two years, however, the mine would operate with a 0.77-to-1 strip ratio and an average head grade of 0.90 gram gold to produce 137,000 oz. gold in year one, and 138,000 oz. gold in year two. Fortuna pegs initial capital expenditures at US$239 million and sustaining capital expenses

at US$105 million. An 18-month construction period gets underway this October, with mine commissioning expected in the second quarter of 2019. “We put out in a very transparent way the numbers of the project,” Ganoza said. “As we advance the project from today through its milestones all the way to commissioning and production in 2019, we’re going to start unlocking the value, but I think we need to show the market how we advance the project.” Lindero contains 88.3 million proven and probable tonnes grading 0.62 gram gold and 0.11% copper, or 1.75 million contained oz. gold. Measured and indicated resources total 12.5 million tonnes grading 0.24 gram gold and 0.10% copper, or 97,000 contained oz. gold. Inferred resources are 5.7 million tonnes at 0.36 gram gold, or 65,000 contained oz. gold. These estimates are based on 144 diamond drill holes totalling 42,400 metres as of Sept. 9.

Inspecting core at Fortuna Silver Mines’ San Jose underground silver-gold mine in Mexico. FORTUNA SILVER MINES

1-7,13,15_OCT30_Main .indd 7

In its mine plan, Fortuna uses a US$1,250 per oz. gold price. The after-tax net present value is US$130 million at a 5% discount rate, with an 18% after-tax internal rate of return. The mine would process 18,750 tonnes of ore per day over 13-year pit operation. (This contrasts with Fortuna’s other two operations, the San Jose silver-gold underground mine in Mexico, and the Callyoma silverlead-zinc underground mine in Peru, which Ganoza calls a “steady performer.” The mines produce at a rate of 3,000 and 1,430 tonnes per day after expansions in 2016, and could produce 4.8 million equivalent oz. silver and 10.3 million equivalent oz. silver in 2017.) Fortuna estimates a 75% lifeof-mine gold recovery at Lindero. Power will be generated on-site by an 8 MW capacity diesel oil plant. Processing is projected to cost US$10.30 per tonne with an all-in sustaining cost of US$802

per oz. gold. Fortuna has also highlighted results from past drilling below the depth of the pit outline, including: hole 86, which cut 154 metres from 298 metres downhole grading 0.94 gram gold, including a 22-metre interval grading 1.25 grams gold; and hole 126, which intercepted 38 metres from 444 metres downhole grading 0.97 gram gold, including a 16-metre interval grading 1.27 grams gold. Fortuna has also been exploring the Arizaro gold-copper porphyry system, 3.2 km southeast of the Lindero deposit, which the company says “could materially add economic benefit to the Lindero project.” “The numbers are compelling,” Ganoza said of Lindero in his presentation. “And we just have to show once again that we can execute on our word.” Fortuna has an $893-million market capitalization, US$188 million in cash and US$40 million in long-term debt. TNM

A worker at Fortuna Silver Mines’ San Jose silver-gold mine. FORTUNA SILVER MINES

2017-10-24 6:32 PM

WWW.NORTHERNMINER.COM

OCTOBER 30–NOVEMBER 12, 2017 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / OCTOBER 16–20 The S&P/TSX Composite Index rose 0.32% to finish the trading week at 15,857.22. The S&P/TSX Global Mining Index and the S&P/ TSX Global Gold Index moved in the opposite direction, falling 1.24% and 2.14%. The spot gold price dropped 1.8% to finish at US$1,280 per ounce. Lithium Americas updated the market on its Lithium Nevada project, sending its shares up 36¢ to $2.02. The board has approved a US$10.5-million budget to fund the project through to 2018 and management is examining future strategic partnerships and financing alternatives for development. A prefeasibility study due for completion in June 2018 will examine the economic potential of producing battery-grade lithium hydroxide from lithium-bearing claystone. In addition, the company has 70 drill targets southeast of the project’s Main Zone. Its 2017 exploration program is fully permitted and 65% complete. Lundin Mining rose 26¢ to $9.97 per share. The company will redeem all of its 7.50% senior-secured notes due in 2020. The early redemption of the $550-million principal outstanding will save the company US$41.3 million a year in interest payments. Endeavour Mining poured its first gold at its new Houndé mine in Burkina Faso.

Nearly three months of feed has been stockpiled and Endeavour says it is getting positive grade reconciliation against the resource model. Once fully ramped up, Endeavour’s 90%-owned Houndé will double the firm’s cash-f low generation. Endeavour expects Houndé to produce an average of 190,000 oz. gold per year at allin sustaining costs (AISCs) of US$709 per oz. over a 10-year mine life. During each of the first four years, the open-pit mine will produce an average 235,000 oz. gold at AISCs of US$610 per ounce. Shares of Endeavour fell $1.36 to $23.12. Shares of TMAC Resources fell $2.13 to finish at $7.20 each. The company reported third-quarter sales from its Doris mine in Nunavut of 13,760 oz. gold and says TSX MOST ACTIVE ISSUES

Lundin Mng Lithium Amer B2Gold Nemaska Lith Trevali Mng Suncor Energy HudBay Mnls Kinross Gold Yamana Gold Titan Mining

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

LUN LAC BTO NMX TV SU HBM K YRI TI

14799 10.13 9.59 9.97 + 0.26 12900 2.04 1.65 2.02 + 0.36 12628 3.46 3.23 3.24 - 0.20 12561 1.73 1.45 1.61 + 0.18 12069 1.61 1.43 1.48 - 0.09 11610 42.87 41.92 42.06 - 0.06 11466 10.79 9.53 9.90 - 0.01 10399 5.57 5.23 5.23 - 0.32 10107 3.44 3.26 3.41 + 0.12 9881 1.34 1.26 1.31 - 0.02

its 2017 guidance remains unchanged at 50,000 to 60,000 oz. gold sold. Management is work ing on design recoveries at the plant and has found three areas for improvement: the cyclones that feed the f lotation cells; a de-watering cone to reduce excess water in the concentratetreatment plant; and the resin columns where it is working to remedy resin bead issues. The emerging gold producer’s

Doris mine poured first gold in the first quarter of 2017 and achieved commercial production in the second quarter. A new cyclone distributor head is expected at the site by mid-November. A shipment of replacement resin should arrive shortly. In the meantime, underground development work at the Doris mine continues with a ramp to Doris Connector, its next mining area, is underway. TNM

TSX GREATEST PERCENTAGE CHANGE

IC Potash Katanga Mng Lithium Amer Aberdeen Intl Sherritt Intl Candente Coppr Horizonte Mnls North Am Pall Red Eagle Mng Nemaska Lith Serabi Gold Atlatsa Res Golden Queen TMAC Resources Redhawk Res Verde Potash Banro Corp Auryn Res Wallbridge Mng Klondex Mines

ICP KAT LAC AAB S DNT HZM PDL R NMX SBI ATL GQM TMR RDK NPK BAA AUG WM KDX

5651 5115 12900 2575 5197 1981 360 57 1710 12561 384 386 2424 480 105 178 74 1270 1276 2161

0.03 1.22 2.04 0.19 1.47 0.18 0.07 7.11 0.30 1.73 0.08 0.04 0.40 8.88 0.03 0.70 0.57 2.70 0.09 4.85

0.02 0.93 1.65 0.14 1.25 0.14 0.07 6.14 0.26 1.45 0.00 0.03 0.31 7.01 0.02 0.57 0.45 2.20 0.07 3.99

0.02 1.20 2.02 0.17 1.46 0.16 0.07 7.10 0.30 1.61 0.05 0.03 0.32 7.20 0.02 0.57 0.45 2.22 0.07 4.06

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

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Agrium North Am Pall Silver Wheaton Lithium Amer Lundin Mng Katanga Mng Dominion Diam Sherritt Intl Richmont Mines Altius Mnrls Agnico Eagle TMAC Resources Torex Gold Endeavour Mng Pretium Res Detour Gold Klondex Mines Barrick Gold SSR Mining Osisko Gold

33.3 27.7 21.7 21.4 18.7 18.5 16.7 16.4 13.2 12.6 37.5 28.6 23.2 22.8 20.0 18.6 18.2 17.8 17.6 15.1

VOLUME WEEK (000s) CLOSE CHANGE

AGU PDL WPM LAC LUN KAT DDC S RIC ALS AEM TMR TXG EDV PVG DGC KDX ABX SSRM OR

1164 135.79 57 7.10 3464 26.39 12900 2.02 14799 9.97 5115 1.20 366 17.92 5197 1.46 2122 12.35 128 12.43 3285 55.99 480 7.20 1325 17.88 499 23.12 3481 14.05 2495 13.65 2161 4.06 9291 20.22 940 12.39 1856 16.03

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

1.04 1.00 0.99 0.36 0.26 0.26 0.23 0.23 0.20 0.19 2.34 2.13 1.83 1.36 0.93 0.89 0.72 0.58 0.54 0.52

TSX VENTURE EXCHANGE / OCTOBER 16–20 The S&P/TSX Venture Composite Index fell 7.93 points to 789.51 — a 0.99% drop. Shares of Millennial Lithium jumped 51¢ to $2.34 on no news, prompting the junior to issue a news release on Oct. 18 saying its management was unaware of a ny cha nges in its operations t hat would account for the price increase. On Oct. 11, Mi l lennia l repor ted t hat it had bought four mining tenements for its f lagship Pastos Grandes lithium brine project in Argentina’s Salta provi nc e . S i nc e e nt e r i n g t he a g re e me nt to acquire t he proper ties, Mi l lennia l h a s a c qu i re d fou r more c ont i g uou s l icences, br i ng i ng t he projec t ’s tota l land position to 61.72 square kilometres. The compa ny has four dri l ls on-site. It i s a l s o c onduc t i ng pi lot e v ap or ation tria ls in 16 tria l ponds, and bulk sampling for back-end process tria ls. M i l le n n i a l ’s ot he r l it h iu m proje c t s in Argentina include: Cauchari East, Cruz (optioned to Southern Lithium) and Pocitos West (optioned to Libert y One Lit hium). Shares of Liber t y One climbed 41¢ to $1.25. SRG Graphite jumped 40¢ to $1.40. The company is advancing its Lola graphite deposit i n Gu i nea , 1,0 0 0 k m ea st of

C ona k r y, t he cou nt r y ’s c apita l. SRG Graphite recently announced it has hired Met-Chem to do a preliminary economic assessment of its wholly owned project, and expects completion by December. Lola is a spin-out of Sama Resources, which owns 44% of SRG Graphite. The company says t he graphite deposit is present at surface over 8.7 km, with an average width of 370 metres. In some areas it reaches 1,000 metres wide. SRG Graphite says the occurrence “has a prospective surface outline of 3.22 sq. km of continuous graphitic gneiss, making it one of the largest graphitic surface areas in the world.” Fa lco Resources’ shares fel l 15¢ to $1.09 per share. The company released TSX-V MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

MX Gold MXL 31627 NRG Metals NGZ 16082 Leeta Gold HIVE 12523 Sparton Res SRI 11701 Vanadium One VONE 10173 Liberty One Li LBY 9825 New Carolin Gd LAD 9784 Blue Moon Zinc MOON 7424 West High Yld WHY 6936 QMC Qntm Ml QMC 6699

0.22 0.42 3.20 0.06 0.12 1.25 0.04 0.07 3.80 0.42

0.14 0.29 2.78 0.03 0.00 0.83 0.03 0.05 1.18 0.28

0.15 - 0.05 0.39 + 0.10 3.01 + 0.28 0.05 + 0.02 0.10 + 0.02 1.25 + 0.41 0.03 - 0.01 0.06 unch 0.00 2.00 unch 0.00 0.36 + 0.08

the results of a feasibilit y study on its Horne 5 project in Quebec. The study estimated the project would cost $1 billion to build, and payback on a post-tax basis wou ld ta ke 5.6 years. The mine wou ld h ave a n i n it i a l 15 -ye a r l i fe s pan with average life-of-mine payable production of 219,000 oz. gold a year. The study estimated a ll-in sustaining

cash costs of US$399 per oz. net of byproduct credits, and all-in costs (capex and opex) of US$643 per oz. gold. At US $1, 3 0 0 per oz . gold a nd u si ng a n exchange rate of $1 to US78¢, Horne 5 would generate a US$602-million afterta x net present va lue at a 5% discount rate, and a 15.3% after-tax internal rate of return. TN M

TSX-V GREATEST PERCENTAGE CHANGE

Kermode Res Montan Mg CaNickel Mng E3 Metals Mustang Mnrls Brunswick Res Adamera Mnls Red Moon Res Strategic Res Cornerstone Mt Trueclaim Expl Electra Stone Cicada Vents Richmond Mnls GT Gold Altitude Res Themac Res Inomin Mines Cdn Arrow Western Pac Rs

KLM MNY CML ETMC MUM BRU ADZ RMK STI CCC TRM ELT CID RMD GTT ALI MAC MINE CRO WRP

321 601 53 743 1360 58 3711 137 30 1857 1189 582 1284 582 4752 662 30 80 1671 27

0.02 0.02 0.21 0.59 0.03 0.03 0.14 0.08 0.25 0.35 0.02 0.01 0.02 0.10 1.85 0.05 0.06 0.10 0.02 0.02

0.01 0.01 0.12 0.35 0.02 0.03 0.07 0.06 0.00 0.22 0.02 0.01 0.01 0.05 1.08 0.03 0.04 0.06 0.01 0.01

0.02 0.02 0.21 0.59 0.03 0.03 0.12 0.08 0.25 0.33 0.02 0.01 0.01 0.05 1.10 0.03 0.04 0.06 0.01 0.01

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 100.0 + 100.0 + 82.6 + 68.6 + 66.7 + 66.7 + 60.0 + 60.0 + 56.3 + 53.5 - 92.5 - 50.0 - 50.0 - 50.0 - 40.5 - 40.0 - 38.5 - 33.3 - 33.3 - 33.3

VOLUME WEEK (000s) CLOSE CHANGE

Millennial Lit Liberty One Li SRG Graphite Garibaldi Res Pac Booker Min Leeta Gold Rock Tech Lith Neo Lithium Till Capital E3 Metals GT Gold Kitrinor Mtls Senator Mnrls Aurion Res ScoZinc Mg Trueclaim Expl SilverCrest Mt Bear Creek Mng Falco Res Cobalt 27 Cap

ML LBY SRG GGI BKM HIVE RCK NLC TIL ETMC GTT SCYB SNR AU SZM TRM SIL BCM FPC KBLT

3365 9825 870 5116 26 12523 157 4972 2 743 4752 32 2443 429 18 1189 295 107 2197 100

2.34 1.25 1.40 3.89 1.23 3.01 1.64 2.02 4.50 0.59 1.10 4.07 1.15 2.54 1.20 0.02 1.21 2.03 1.09 9.41

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

0.51 0.41 0.40 0.32 0.28 0.28 0.27 0.25 0.25 0.24 0.75 0.48 0.44 0.29 0.20 0.19 0.16 0.15 0.15 0.14

U.S. MARKETS / OCTOBER 16–20 Gold closed at US$1,280 per oz., down US$23.30 per ounce. The Philadelphia Gold and Silver Index dropped 2.61% to 85.01, while the Dow Jones Industrial Average stayed strong, rising 2% to 23,328.63. The S&P 500 Index rose 0.86% to 2,575.21. Shares of Martin Marietta rose US$11.59 to US$216.16. In June, the company announced it would acquire Bluegrass Materials for US$1.63 billion. Bluegrass is an aggregates and concrete block producer based in Jacksonville, Florida, that operates several quarries in Georgia and South Carolina. As of an Oct. 19 securities filing, however, the two companies had agreed not to close the deal before Jan. 31, 2018, pending a review by the U.S. Department of Justice. Martin Marietta saw net sales of building materials rise in the second quarter by 8.8% to US$931.7 million, and yielded a consolidated gross profit of US$274.1 million. Cloud Peak Energy shares rose 25% to US$4.58. The company posted a secondquarter net loss of US$6.9 million compared to a US$35.3-million gain for the second quarter of 2016. However, since entering office more than half a year ago, U.S. President

8_OCT30_MarketNews.indd 8

Donald Trump has promised to support struggling coal companies. His latest bid to bolster coal markets comes via Energy Secretary Rick Perry’s proposed plan to subsidize nuclear and coal-based power plants because they make the nation’s power grid more reliable. Perry has said the plan will help prevent power outages like those experienced in the wake of Hurricane Harvey. Several former energy panel members have opposed the plan. Cloud Peak plans to announce its third-quarter results on Oct. 26, 2017, after the markets close. Shares for Harmony Gold fell 12% to U.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Vale* VALE 150557 10.65 9.95 10.28 - 0.17 Freprt McMoR* FCX 94591 15.59 14.45 14.83 + 0.08 Cleveland-Clif* CLF 76787 7.73 6.88 7.02 - 0.55 United States S* X 61297 28.57 26.39 28.43 + 1.07 Yamana Gold* AUY 42607 2.74 2.60 2.72 + 0.07 Barrick Gold* ABX 41057 16.69 15.93 16.03 - 0.64 IAMGOLD* IAG 34573 6.19 5.52 5.74 - 0.41 Gold Fields* GFI 30676 4.24 3.97 3.97 - 0.15 Kinross Gold* KGC 30465 4.46 4.14 4.16 - 0.27 Goldcorp* GG 28211 13.44 12.92 13.09 - 0.31

US$1.66. On Oct. 19, 2017, the company announced it had entered an agreement with AngloGold Ashanti to acquire Anlgo'sSouth African Moab Khotsong and Great Noligwa uranium and gold mines for US$300 million in cash. Three miners died in August

at Harmony’s Kusasalethu gold mine near Carletonville, South Africa, 75 km west of Johannesburg, as the result of an underground mine collapse caused by an earth tremor. The collapse occurred 3,100 metres underground. TNM

U.S. GREATEST PERCENTAGE CHANGE

Cloud Peak En* NACCO Ind* Arch Coal* Mechel* MartinMarietta* Peabody Enrgy* United States S* Natural Res Pt* Silver Wheaton* Yamana Gold* Harmony Gold* Endeavr Silver* Intrepid Pots* Pretium Res* Cleveland-Clif* Coeur Mng* IAMGOLD* Fortuna Silvr* Kinross Gold* Agnico Eagle*

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

CLD NC ARCH MTL MLM BTU X NRP WPM AUY HMY EXK IPI PVG CLF CDE IAG FSM KGC AEM

9586 4.64 3.65 4.58 + 25.1 195 40.65 34.96 40.05 + 9.3 1662 75.82 69.36 75.43 + 8.7 5462 5.35 4.94 5.26 + 5.8 2770 216.49 201.35 216.16 + 5.7 5042 30.06 28.46 29.96 + 5.5 61297 28.57 26.39 28.43 + 3.9 86 27.85 25.56 26.50 + 2.9 10107 20.92 19.75 20.91 + 2.9 42607 2.74 2.60 2.72 + 2.6 18266 1.88 1.65 1.66 - 11.7 5559 2.54 2.30 2.30 - 8.4 4073 4.22 3.75 3.78 - 7.6 11897 12.00 11.03 11.12 - 7.4 76787 7.73 6.88 7.02 - 7.3 9043 9.06 8.20 8.31 - 7.0 34573 6.19 5.52 5.74 - 6.7 4847 4.67 4.29 4.36 - 6.2 30465 4.46 4.14 4.16 - 6.1 5914 46.86 43.86 44.36 - 5.0

U.S. GREATEST VALUE CHANGE

MartinMarietta* MLM Arch Coal* ARCH NACCO Ind* NC Peabody Enrgy* BTU United States S* X Cloud Peak En* CLD Natural Res Pt* NRP Silver Wheaton* WPM Mechel* MTL Alcoa* AA Agnico Eagle* AEM Rio Tinto* RIO Franco-Nevada* FNV Pretium Res* PVG Newmont Mng* NEM Black Hills* BKH Barrick Gold* ABX Coeur Mng* CDE Osisko Gold* OR Cleveland-Clif* CLF

VOLUME WEEK (000s) CLOSE CHANGE

2770 216.16 1662 75.43 195 40.05 5042 29.96 61297 28.43 9586 4.58 86 26.50 10107 20.91 5462 5.26 23582 47.93 5914 44.36 13909 48.37 1757 79.67 11897 11.12 19053 37.79 1192 66.97 41057 16.03 9043 8.31 2473 12.69 76787 7.02

+ 11.59 + 6.04 + 3.40 + 1.57 + 1.07 + 0.92 + 0.75 + 0.59 + 0.29 + 0.22 - 2.34 - 1.64 - 1.10 - 0.89 - 0.80 - 0.70 - 0.64 - 0.63 - 0.57 - 0.55

2017-10-24 6:31 PM

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / OCTOBER 30–NOVEMBER 12, 2017

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

SPOT PRICES COURTESY OF SCOTIABANK Tuesday, October 24, 2017 Precious Metals Price (US$/oz.) Change 1278.30 -11.40 Gold Silver $17.04 -0.08 Platinum $916.00 -27.00 Palladium $965.00 -40.00 Base Metals Nickel Copper Lead Zinc

Price (US$/tonne) Change $11990.00 +135.00 $7031.00 +28.50 $2473.00 -27.00 $3172.00 +44.00

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, October 23, 2017 (change from October 16, 2017 in brackets): Aluminium Alloy 11920 (0) 1199675 (-19275) Aluminium Copper 283450 (-1575) 148575 (-3400) Lead Nickel 385956 (+168) 2110 (+20) Tin 267625 (+4275) Zinc

Thermal Coal CAPP: US$40.00 per short ton Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$55.50 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$11.75 Cobalt: US$26.99/lb. Copper: US$3.16/lb. Copper: CME Group Futures Nov. 2017: US$3.19/lb.; Dec. 2017: US$3.20/lb Ferro-Chrome: US$2.48/kg Ferro Titanium: US$3.77/kg FerroTungsten: US$25.52/kg Ferrovanadium: US$22.60/kg Iridium: NY Dealer Mid-mkt US$970.00/tr oz. Iron Ore 62% Fe CFR China-S: US$60.30/tonne Iron Ore Fines: US$69.00/tonne Iron Ore Pellets: US$96.06/tonne Lead: US$1.12/lb. Magnesium: US$2.26/kg Manganese: US$2.06/kg Molybdenum Oxide: US$7.26/lb. Phosphate Rock: US$93.00/tonne Potash: US$218.00/tonne Rhodium: Mid-mkt US$1,605.00 tr. oz. Ruthenium: Mid-mkt US$90.00/tr. oz. Silver: Handy & Harman Base: US$16.99 per oz.; Handy & Harman Fabricated: US$21.23 per oz. Tantalite Ore : US$123.61/kg Tin: US$8.96/lb. Uranium: U3O8, Trade Tech spot price: US$20.65; The UX Consulting Company spot price: US$20.35/lb. Zinc: US$1.44/lb. Prices current Oct. 24, 2017

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Oct 16, 2017 (with changes from Oct 02, 2017) Largest short positions BTO 18987127 -1014621 10/2/2017 B2Gold Sandstorm Gold SSL 15776531 -93273 10/2/2017 Suncor Energy SU 13432205 -465595 10/2/2017 Yamana Gold YRI 12303674 1942057 10/2/2017 AKG 11925592 -1023058 10/2/2017 Asanko Gold New Gold NGD 11234372 -1648439 10/2/2017 Eldorado Gold ELD 10461238 716001 10/2/2017 OceanaGold OGC 10266901 -11073 10/2/2017 IVN 9815502 -1463927 10/2/2017 Ivanhoe Mines Turquoise HIl TRQ 8524947 603607 10/2/2017 ASR 7043768 80265 10/2/2017 Alacer Gold First Majestic FR 6697773 -255485 10/2/2017 Nevsun Res NSU 6663164 -172805 10/2/2017 Potash Corp SK POT 6436948 -410700 10/2/2017 LUN 6217810 -5123441 10/2/2017 Lundin Mng Largest increase in short position Yamana Gold YRI 12303674 1942057 10/2/2017 Alamos Gold AGI 5485130 995885 10/2/2017 ELD 10461238 716001 10/2/2017 Eldorado Gold Kirkland Lake KL 3830747 672525 10/2/2017 S 2852263 604163 10/2/2017 Sherritt Intl Largest decrease in short position Lundin Mng LUN 6217810 -5123441 10/2/2017 New Gold NGD 11234372 -1648439 10/2/2017 CXN 1061900 -1485700 10/2/2017 Chalice Gold M Ivanhoe Mines IVN 9815502 -1463927 10/2/2017 Alexco Res AXR 267683 -1413733 10/2/2017

Short positions outstanding as of Oct 16, 2017 (with changes from Oct 02, 2017) Largest short positions LBY 2440532 2033912 10/2/2017 Liberty One Li Leeta Gold HIVE 1790100 -208200 10/2/2017 Atlantic Gold AGB 1391900 232413 10/2/2017 Lithium X Egy LIX 1249100 609336 10/2/2017 BXR 1014300 271100 10/2/2017 Blue Rvr Res Inca One Gold IO 756167 461167 10/2/2017 ABN 554000 356700 10/2/2017 Aben Res Millennial Lit ML 552720 149467 10/2/2017 MX Gold MXL 517617 400551 10/2/2017 Barkerville Go BGM 438100 -140794 10/2/2017 EXS 397400 600 10/2/2017 Explor Res Noble Mnl Expl NOB 347000 -175000 10/2/2017 GT Gold GTT 307995 101544 10/2/2017 Rainmaker Res RIR 280000 0 10/2/2017 Novo Res NVO 243785 47069 10/2/2017 Largest increase in short position Liberty One Li LBY 2440532 2033912 10/2/2017 Lithium X Egy LIX 1249100 609336 10/2/2017 Inca One Gold IO 756167 461167 10/2/2017 MX Gold MXL 517617 400551 10/2/2017 ABN 554000 356700 10/2/2017 Aben Res Largest decrease in short position Mountain Boy MTB 300 -1399800 10/2/2017 Eureka Res EUK 500 -1300500 10/2/2017 PHD 1100 -624500 10/2/2017 Providence Decade Res DEC 0 -551000 9/18/2017 GRR 397 -406603 10/2/2017 Golden Reign

DAILY METAL PRICES Daily Metal Prices Date Oct 23 Oct 20 Oct 19 Oct 18 Oct 17 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) Al Alloy 1815/1830 1815/1830 1815/1830 1815/1830 1815/1830 Aluminum 2132.50/2144 2158.50/2165.50 2128/2138 2106/2125 2110.50/2135.50 Copper 6958/6989.50 7008/7030 6919/6960 6971/7011 7044/7063 Lead 2471/2478 2501.50/2512 2490/2495 2492/2505.50 2495/2508 Nickel 11740/11800 12045/12090 11675/11730 11740/11805 11665/11735 Tin 19725/19575 19900/19750 20075/19925 20045/19925 20750/20575 3175/3121 3207/3145 3169.50/3106 3184.50/2127 3129.50/3100 Zinc

PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.) Gold AM 1275.25 1280.25 1283.40 1280.65 1289.70 Gold PM 1274.90 1281.20 1286.40 1280.20 1284.75 Silver 17.00 17.08 17.03 16.95 17.11 Platinum 913.00 919.00 921.00 922.00 928.00 Palladium 965.00 976.00 951.00 973.00 985.00

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

Oct 20 Oct 19 Oct 18 Oct 17 Oct 16 1.2483 1.2483 1.2465 1.2515 1.2520 0.8011 0.8011 0.8023 0.7991 0.7988

Exchange rates (Quote Media, October 20, 2017) C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand C$ to AUS 0.6761 90.1835 15.0732 10.8311 1.0168 C$ to UK Pound C$ to China Yuan C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won 0.6089 5.2994 52.0730 0.7818 904.1456 US to AUS US to EURO US to YEN US to Mex Peso US to SA Rand 1.2693 0.8440 112.5780 18.8182 13.5122 US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won 0.7601 6.6148 64.9146 0.9760 1128.8100

TSX WARRANTS 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 Continental Gold Inc. (CNL.WT.A) - Wt buys sh @ $4.75 to Nov 26/17 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.B) - Wt buys sh @ $0.55 to Jun 10/21 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 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 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. 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 ABE Resources Inc. (ABE.WT) - One warrant to purchase one common share at $0.15 per 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 Brazil Resources (BRI.WT) - Wt buys sh @ $0.75 to Dec 31/18 Cornerstone Capital Resources (CGP.WT.S) - Wt buys sh @ $0.35 to Apr 07/19 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. 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 Monarques Gold (MQR.WT.A) - Wt buys sh @ $0.18 to Dec 15/17 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 West Kirkland Mining (WKM.WT) - Wt buys sh @ $0.3 to Apr 17/19

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

Oct 20 Oct 19 Oct 18 Oct 17 Oct 16 High Low Index S&P/TSX Composite 15857.22 15818.00 15782.16 15816.90 15802.70 15527.30 12400.15 S&P/TSXV Composite 789.51 782.07 784.69 791.08 792.49 1050.26 883.52 S&P/TSX 60 937.03 934.93 931.94 933.98 932.28 896.74 709.99 S&P/TSX Global Gold 198.44 198.05 197.29 199.89 199.69 218.90 149.29 DJ Precious Metals 175.78 176.90 175.92 177.01 177.31 420.72 130.95

NEW 52-WEEK HIGHS AND LOWS OCTOBER 16–20, 2017 105 New Highs Aberdeen Intl Aberdeen Intl* Adventus Zinc Aftermath Slvr Aida Minerals Alopex Gold Alumina Inc* Amerigo Res Amerigo Res* Anglo American* Antofagasta* Ardonblue Vent Arizona Mng Arizona Mng* Asiamet Res* Bankers Cobalt BonTerra Res* Buenaventura* Candente Coppr Cava Res* Chevron Corp* China Mnls Mng* Copper Mtn Mng Copper Mtn Mng* Cornerstone Mt Critical Elem Critical Elem* Cypress Dev*

European Metal* Explorex Res* First Nickel* GGL Res* Giga Metals Glencore Plc* Global Li-Ion Global Li-Ion* Gold Mng USA* Goliath Res Gungnir Res Gungnir Res* Horizonte Mnls Inform Res Karmin Expl Katanga Mng Kesselrun Res Kesselrun Res* Leeta Gold Liberty One Li Liberty One Li* Lithium Amer Lithium Amer* Lucky Mnls Lucky Mnls * Lundin Mng Mason Graphite* Micrex Dev Millennial Lit

Millennial Lit* Mustang Mnrls* Navis Res Corp Navis Res Corp* Nemaska Lith Nemaska Lith* Neo Lithium North Am Pall North Am Pall* Northn Empire Nouveau Monde Nouveau Monde* NRG Metals NRG Metals* Orsu Metals Pac Booker Min* Pan Global Res Panoro Mnrls PJSC Polyus Gd* Provenance Gld QMC Quantum Ml QMC Quantum Ml* Rackla Mtls* Ravencrest Res Red Moon Res Rio Tinto* River Wild Exp Sama Res

Sama Res* Skeena Res Southern Copp* SRG Graphite Strategic Res Taranis Res Taranis Res* Tonogold Res* Ultra Lithium Ultra Lithium* Umbral Enrgy Umbral Enrgy* Unity Energy* Vedanta* West Af Res Westcot Vent Western Areas* Westridge Res* Wolfeye Res Zena Mng 61 New Lows Angkor Gold Aurum* Avrupa Mnls Avrupa Mnls* Balmoral Res Borneo Res Inv* Buccaneer Gold* Cache Expl*

Canasil Res Comstock Mtls * Contact Gold Cordoba Mnls* Diamcor Mng Discovery Met* EMX Royalty* Energy Fuels Enforcer Gold Enforcer Gold* Fireweed Zinc Fortuna Silvr Gold Std Vents Golden Arrow Golden Arrow* Golden Mnls* GoldMining Goldsource Min Harfang Explor LiCo Energy* Meadow Bay Gd Nevada Sunrise Nevada Sunrise* Nexus Gold Nickel One Res* Niocorp Dev Niocorp Dev* Nrthn Shield Olivut Res*

Paramount Gold* Pine Cliff En Prospero Silvr* Pure Energy Pure Energy* Redstar Gold* Running Fox Rs* Sarama Res Secova Mtls* Select Sands Silvercorp Met* SilverCrest Mt SilverCrest Mt* Skeena Res Sparton Res* Sprott Res Hld Strikepoint Gd Strikepoint Gd* Tanzania Rlty* TMAC Resources Torq Resources* Uragold Bay Rs Vanadium One Worldwide Res*

CANADIAN GOLD MUTUAL FUNDS Fund Oct 20 ($) Oct 13 ($) Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$) AGF Prec Mtls Fd MF 20.44 21.22 -0.78 -3.68 -8.46 2.80 131.24 BMO Prec Mtls Fd A 17.89 18.27 -0.38 -2.07 -1.69 2.40 62.16 BMO ZGD 9.70 10.03 -0.34 -3.36 1.20 0.63 BMO ZJG 9.22 9.50 -0.28 -2.99 11.59 0.60 CIBC Prec Metal Fd A 10.31 10.58 -0.27 -2.57 -3.68 2.58 49.59 Dyn Prec Metls Fd A 6.58 6.77 -0.19 -2.81 6.44 2.66 352.51 GOGO 9.99 10.20 -0.22 -2.13 Horizons HEP 24.75 25.08 -0.33 -1.31 4.36 0.81 IG Mac GbPMetCl A 8.77 9.04 -0.27 -2.94 1.54 2.75 42.13 iShares XGD 12.39 12.67 -0.27 -2.15 1.18 0.55 782.15 Mac Prec Met Cl A 46.79 48.24 -1.45 -3.01 1.72 2.51 89.56 NBI PrecMetFd AdvDSC 12.43 12.86 -0.43 -3.34 1.22 2.47 30.90 12.86 -0.43 -3.34 1.22 2.47 30.90 NBI PrecMetFd AdvISC 12.43 NBI PrecMetFd AdvLSC 12.43 12.86 -0.43 -3.34 1.22 2.47 30.90 NBI PrecMetFd Invt 12.43 12.86 -0.43 -3.34 1.22 2.46 30.90 RBC GblPreMetFd A 33.17 34.51 -1.34 -3.89 8.14 2.13 382.50 10.00 0.00 Redw UITGoDe&ProCl A 10.00 Sentry Pre Met Fd A 39.27 41.08 -1.81 -4.41 3.18 2.44 186.96 36.73 -1.12 -3.05 -1.26 3.12 204.63 Sprott Gold&PrMinFdA 35.61 Sprott SilverEquCl A 5.71 5.91 -0.20 -3.42 -10.99 3.09 122.58 TD PreciousMetalsInv 33.96 34.86 -0.90 -2.58 -3.42 2.27 124.43

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.$

9_OCT30_MMMM.indd 9

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

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

2017-10-24 6:33 PM

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: OCTOBER 16–20, 2017 (100s) Stock

WWW.NORTHERNMINER.COM

OCTOBER 30–NOVEMBER 12, 2017 / THE NORTHERN MINER

Week

12-month

Exc Volume High Low Last Change High Low

A 92 Resources* O 67 0.09 0.08 0.08 - 0.00 0.13 0.07 92 Resources V 389 0.11 0.10 0.11 + 0.01 0.22 0.07 Abacus Mng &Ex V 132 0.50 0.42 0.43 - 0.04 0.78 0.24 Abacus Mng &Ex* O 115 0.41 0.34 0.34 - 0.00 2.88 0.06 Abcourt Mines* O 264 0.06 0.05 0.05 - 0.01 0.10 0.05 0.07 - 0.01 0.13 0.07 Abcourt Mines V 602 0.08 0.07 ABE Resources V 592 0.30 0.22 0.30 + 0.05 0.57 0.05 Aben Res V 2868 0.23 0.15 0.17 - 0.05 0.50 0.07 0.13 - 0.04 0.41 0.05 Aben Res* O 746 0.19 0.12 Aberdeen Intl* O 190 0.15 0.11 0.14 + 0.03 0.15 0.09 Aberdeen Intl T 2575 0.19 0.14 0.17 + 0.03 0.19 0.11 Abitibi Royalt* O 3 7.24 0.00 7.10 - 0.15 8.18 6.00 Abitibi Royalt V 13 9.07 8.91 8.96 - 0.10 10.75 8.02 O 126 0.25 0.19 0.22 - 0.02 0.48 0.19 AbraPlata Res* AbraPlata Res V 507 0.30 0.22 0.26 - 0.03 0.63 0.03 0.12 + 0.05 0.24 0.06 Adamera Mnls V 3711 0.14 0.07 Adamera Mnls* O 534 0.11 0.06 0.09 + 0.03 0.18 0.04 0.06 - 0.01 0.13 0.05 Advance Gold V 104 0.07 0.06 Advantage Lith V 2187 0.64 0.53 0.60 + 0.08 1.34 0.36 Advantage Lith* O 1006 0.51 0.42 0.49 + 0.08 1.01 0.28 1.02 + 0.09 1.15 0.57 Adventus Zinc V 31 1.15 0.94 Affinity Gold* O 21 0.04 0.02 0.04 + 0.02 0.05 0.00 African Gold V 1286 0.06 0.05 0.06 - 0.01 0.09 0.04 0.04 - 0.01 0.08 0.03 African Queen V 297 0.04 0.03 Aftermath Slvr V 56 0.15 0.00 0.12 + 0.02 0.15 0.04 44.36 - 2.34 53.17 35.05 Agnico Eagle* N 5914 46.86 43.86 55.99 - 2.34 71.15 46.91 Agnico Eagle T 3285 58.61 55.35 Agrium T 1164 136.59 132.89 135.79 + 1.04 146.99 115.16 N 1073 109.13 106.41 107.65 - 0.26 111.88 87.82 Agrium* Aida Minerals 528 0.48 0.33 0.48 + 0.13 0.48 0.01 Aim Explor* O 4211 0.00 0.00 0.00 + 0.00 0.04 0.00 V 1545 0.18 0.17 0.18 - 0.01 0.22 0.11 Alabama Graph Alabama Graph* O 373 0.14 0.13 0.14 + 0.00 0.17 0.08 2.22 + 0.02 3.18 1.75 Alacer Gold T 1474 2.28 2.17 Alamos Gold T 4201 9.01 8.65 8.99 + 0.14 11.86 7.86 Alamos Gold* N 10423 7.23 6.89 7.11 + 0.01 9.00 5.95 0.05 - 0.01 0.15 0.04 Albert Mining V 336 0.05 0.04 Alchemist Mng 3949 0.07 0.05 0.06 + 0.01 0.12 0.05 Alcoa* N 23582 48.93 46.01 47.93 + 0.22 49.30 20.00 Alderon Iron* O 70 0.22 0.19 0.19 - 0.01 0.60 0.10 0.25 - 0.01 0.80 0.14 Alderon Iron T 166 0.27 0.24 0.03 - 0.01 0.15 0.03 Aldever Res V 87 0.04 0.03 Aldever Res* O 890 0.02 0.00 0.02 - 0.01 0.11 0.02 Aldridge Min V 28 0.20 0.20 0.20 + 0.01 0.30 0.17 Alexandria Min* O 815 0.06 0.05 0.06 + 0.01 0.07 0.03 Alexco Res* X 1340 1.50 1.27 1.32 - 0.16 2.04 1.10 Alexco Res T 442 1.87 1.65 1.70 - 0.15 2.66 1.47 0.16 - 0.01 0.36 0.16 Algold Res V 562 0.17 0.16 Alianza Min V 438 0.09 0.00 0.08 - 0.01 0.16 0.08 Alix Res V 1431 0.04 0.03 0.03 - 0.01 0.08 0.03 20.65 + 0.05 26.65 17.65 Alliance Res* D 1352 20.80 20.00 Almaden Mnls T 98 1.48 1.36 1.42 - 0.01 2.33 1.01 X 697 1.18 1.08 1.13 - 0.03 1.75 0.75 Almaden Mnls* Almadex Min V 241 1.28 1.16 1.20 - 0.09 2.00 0.89 Almadex Min* O 360 1.03 0.92 0.97 - 0.04 1.51 0.65 0.60 - 0.01 0.69 0.20 Almonty Ind V 77 0.62 0.00 Alopex Gold V 139 0.71 0.56 0.71 + 0.06 0.71 0.48 Alphamin Res V 67 0.38 0.35 0.38 + 0.02 0.40 0.27 O 5 0.06 0.06 0.06 - 0.02 0.15 0.06 Alset Minerals* Altai Res V 1673 0.27 0.23 0.27 + 0.02 0.37 0.05 0.13 0.12 0.13 - 0.01 0.47 0.12 Altair Res Inc V 1229 0.25 - 0.02 0.34 0.14 Altamira Gold V 183 0.27 0.25 Altamira Gold* O 54 0.21 0.20 0.20 - 0.01 0.31 0.11 0.15 - 0.01 0.28 0.09 Altiplano Mnls V 150 0.15 0.13 Altitude Res V 662 0.05 0.03 0.03 - 0.02 0.15 0.03 Altius Mnrls T 128 12.46 12.08 12.43 + 0.19 14.06 10.05 840 0.24 0.21 0.22 - 0.01 0.24 0.09 Altura Mng Ltd* O Alturas Mnrls V 877 0.05 0.03 0.03 - 0.01 0.05 0.02 7.24 + 0.19 7.25 4.50 Alumina Inc* O 78 7.25 6.98 ALX Uranium V 288 0.08 0.07 0.08 - 0.01 0.16 0.06 ALX Uranium* O 51 0.06 0.00 0.06 - 0.00 0.12 0.05 0.06 0.05 0.06 - 0.01 0.08 0.04 Am Creek Res V 1745 Am CuMo Mng* O 239 0.07 0.06 0.07 + 0.00 0.35 0.06 Am Manganese* O 65 0.16 0.15 0.16 + 0.01 0.27 0.10 Am Manganese V 385 0.20 0.18 0.19 - 0.01 0.38 0.13 Amarc Res V 220 0.17 0.14 0.15 - 0.02 0.26 0.06 0.12 - 0.03 0.21 0.04 Amarc Res* O 55 0.14 0.11 Amarillo Gold V 26 0.32 0.29 0.32 - 0.01 0.45 0.28 Amazing Energy* O 326 0.45 0.33 0.37 + 0.06 0.60 0.05 American Lith V 370 0.65 0.51 0.63 + 0.13 4.30 0.33 American Lith* O 4 0.50 0.00 0.49 + 0.10 0.67 0.34 American Pot 2074 0.10 0.07 0.08 - 0.02 0.26 0.03 X 159 4.68 4.40 4.50 - 0.19 5.04 2.39 Americas Silvr* 5.68 - 0.15 6.11 2.70 Americas Silvr T 362 5.85 5.49 Amerigo Res T 863 0.90 0.79 0.83 - 0.03 0.90 0.16 Amerigo Res* O 351 0.70 0.63 0.65 - 0.04 0.70 0.11 Amex Expl V 370 0.10 0.09 0.09 - 0.01 0.38 0.08 O 7 0.06 0.05 0.06 - 0.00 0.07 0.04 Anaconda Mng* Andes Gold* O 58 0.01 0.00 0.01 - 0.00 0.03 0.00 Anfield Nickel V 298 0.42 0.37 0.42 + 0.02 1.39 0.35 0.04 + 0.01 0.12 0.03 Anfield Res* O 663 0.04 0.03 Anfield Res V 1947 0.05 0.04 0.05 + 0.01 0.16 0.04 Angel Gold* O 29 0.05 0.03 0.04 + 0.01 0.09 0.03 0.25 + 0.04 0.44 0.20 Angkor Gold V 284 0.26 0.20 Anglo American* O 3 19.57 0.00 18.87 - 0.73 19.60 12.19 10.07 9.44 9.54 - 0.39 10.07 5.95 Anglo American* O 1136 AngloGold Ash* N 13891 9.87 9.17 9.50 + 0.05 14.77 8.89 V 115 0.07 0.06 0.06 - 0.01 0.20 0.06 Antioquia Gold Antioquia Gold* O 108 0.05 0.05 0.05 - 0.00 0.14 0.05 Antler Gold V 116 0.45 0.41 0.45 + 0.02 0.67 0.28 Antofagasta* O 22 13.92 0.00 13.10 - 0.35 13.92 6.29 Apex Res V 6 0.09 0.00 0.08 - 0.01 0.15 0.06 Apogee Opport V 11 0.20 0.00 0.16 - 0.04 0.24 0.14 Appia Energy 127 0.14 0.10 0.12 + 0.01 0.47 0.10 Applied Mrnls* O 423 0.08 0.06 0.07 - 0.01 0.14 0.02 Aquila Res* O 710 0.22 0.19 0.21 + 0.00 0.24 0.15 Aquila Res T 606 0.27 0.25 0.25 - 0.01 0.32 0.19 Arch Coal* N 1662 75.82 69.36 75.43 + 6.04 86.47 60.13 Archon Mineral V 2 1.06 1.03 1.03 - 0.03 1.70 1.02 0.10 + 0.00 0.24 0.04 Arctic Star* O 23 0.10 0.09 Arcus Dev Grp V 585 0.14 0.11 0.12 - 0.02 0.19 0.07 Ardonblue Vent V 325 0.59 0.47 0.53 + 0.09 0.59 0.08 Arena Mnls* O 41 0.09 0.08 0.08 - 0.00 0.23 0.07 Arena Mnls V 478 0.11 0.10 0.11 + 0.01 0.30 0.10 Argentina Lith V 1626 0.20 0.15 0.19 + 0.03 0.71 0.08 Argentina Lith* O 103 0.16 0.11 0.15 + 0.02 0.63 0.07 Argentum Silvr V 47 0.22 0.21 0.22 + 0.01 0.59 0.17 Argo Gold 87 0.22 0.00 0.16 - 0.02 0.26 0.06 Argonaut Gold* O 115 2.10 2.01 2.01 - 0.09 2.40 1.12 Argonaut Gold T 1368 2.70 2.52 2.54 - 0.08 3.14 1.48 Argus Metals V 295 0.12 0.00 0.12 + 0.03 0.15 0.07 Arian Silver* O 1200 0.01 0.00 0.00 + 0.00 0.02 0.00 Arianne Phosph* O 88 0.59 0.54 0.57 + 0.00 0.73 0.52 Arizona Mng T 2053 3.68 3.20 3.32 - 0.17 3.68 1.70 Arizona Mng* O 104 3.50 2.55 2.65 - 0.10 3.50 1.30 Arizona Silver V 600 0.30 0.26 0.30 + 0.04 1.23 0.12 Arizona Silver* O 137 0.24 0.21 0.23 + 0.03 0.91 0.13 Armor Mnrls V 34 0.39 0.00 0.39 + 0.02 0.59 0.32 Arrowstar Res V 244 0.06 0.05 0.05 - 0.01 0.09 0.03 Asanko Gold T 1646 1.27 1.18 1.24 - 0.03 5.47 0.99 Asanko Gold* X 2570 1.03 0.94 0.98 - 0.04 4.17 0.78 1.51 - 0.11 2.51 1.38 Ascot Res V 341 1.70 1.46 Ashburton Vent V 541 0.08 0.08 0.08 - 0.01 0.34 0.08 Asiamet Res* O 209 0.09 0.08 0.09 + 0.01 0.09 0.03 Asian Minl Res V 121 0.04 0.03 0.03 - 0.01 0.05 0.02 Aston Bay V 729 0.13 0.12 0.12 + 0.01 0.31 0.10 Astorius Res V 2228 0.10 0.07 0.10 + 0.01 0.37 0.06 ATAC Res V 751 0.72 0.59 0.63 - 0.07 0.89 0.32 Atacama Pacif V 775 0.70 0.59 0.62 - 0.06 0.83 0.26 Atacama Pacif* O 19 0.50 0.49 0.50 - 0.06 0.66 0.22 Atacama Res* O 622 0.01 0.01 0.01 - 0.00 0.52 0.01 Athabasca Mnls* O 95 0.13 0.10 0.13 + 0.02 0.24 0.09 Athabasca Mnls V 230 0.16 0.13 0.15 + 0.01 0.32 0.12 Atico Mng* O 97 0.61 0.55 0.55 - 0.04 0.75 0.42 Atico Mng V 143 0.76 0.70 0.70 - 0.02 0.99 0.58 Atlantic Gold V 1251 1.71 1.51 1.66 + 0.02 1.87 0.76 Atlatsa Res* O 65 0.03 0.02 0.02 - 0.00 0.07 0.02 Atlatsa Res T 386 0.04 0.03 0.03 - 0.01 0.10 0.03 Aton Res Inc* O 132 0.04 0.03 0.03 - 0.00 0.06 0.03 Aura Mnls* O 8 1.53 1.42 1.48 - 0.05 1.72 1.03 Aura Mnls T 8 1.83 1.74 1.79 + 0.01 2.15 1.30 Aura Silver Rs V 4438 0.04 0.03 0.03 - 0.01 0.10 0.03 Auramex Res V 81 0.05 0.05 0.05 - 0.01 0.09 0.02 Aurania Res* O 18 1.60 1.55 1.58 - 0.01 2.20 1.44 Aurania Res V 39 2.00 1.94 1.94 - 0.03 3.75 0.50 O 65 0.21 0.20 0.20 - 0.01 0.44 0.18 Aurcana Corp* AurCrest Gold V 22 0.02 0.00 0.02 - 0.01 0.04 0.02 AuRico Metals T 770 1.40 1.31 1.32 - 0.01 1.43 0.82 74 1.11 1.04 1.05 - 0.00 1.19 0.62 AuRico Metals * O Aurion Res * O 9 2.26 0.00 2.07 - 0.16 2.82 0.24 Aurion Res V 429 3.10 2.54 2.54 - 0.29 3.49 0.32 Aurum* O 35 0.06 0.06 0.06 - 0.04 1.30 0.06 Aurvista Gold V 2169 0.29 0.25 0.26 - 0.02 0.46 0.15 Aurvista Gold* O 251 0.23 0.20 0.21 - 0.01 0.34 0.10 Auryn Res* X 801 2.17 1.74 1.75 - 0.41 3.00 1.58 Auryn Res T 1270 2.70 2.20 2.22 - 0.48 3.85 2.14 Austral Gold* O 35 0.12 0.10 0.12 + 0.02 0.16 0.08 Austral Gold V 28 0.14 0.14 0.14 - 0.01 0.21 0.12 Auxico Res 2150 0.45 0.24 0.40 + 0.14 0.45 0.24 964 0.12 0.10 0.11 + 0.00 0.17 0.00 Avalon Adv Mat* O

10-12_OCT30_StockTables.indd 10

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Avalon Adv Mat T 1148 Avino Silver* X 985 Avino Silver V 165 Avrupa Mnls V 282 Avrupa Mnls* O 48 AXE Expl V 94 Axmin Inc V 39 Axmin Inc* O 5 Azarga Mtls V 39 Azarga Mtls* O 9 Azarga Uranium T 41 Azimut Expl V 708 O 16 Azincourt Uran* Azteca Gold* O 206

0.15 0.13 0.13 - 0.01 0.23 0.13 1.56 1.43 1.47 - 0.09 2.59 1.12 1.97 1.80 1.85 - 0.10 3.45 1.52 0.08 0.07 0.08 - 0.01 0.17 0.07 0.07 0.05 0.07 - 0.01 0.13 0.05 0.03 0.03 0.03 - 0.01 0.05 0.02 0.05 0.05 0.05 - 0.01 0.09 0.03 0.03 0.03 0.03 + 0.00 0.05 0.02 0.15 0.00 0.14 - 0.01 0.57 0.11 0.13 0.00 0.13 + 0.02 1.21 0.09 0.23 0.00 0.23 + 0.01 0.57 0.18 0.40 0.32 0.38 + 0.07 0.50 0.24 0.06 0.05 0.05 + 0.00 0.22 0.03 0.00 0.00 0.00 - 0.00 0.00 0.00

B2Gold* X 21429 B2Gold T 12628 V 732 Bacanora Mnls Balmoral Res* O 394 Bankers Cobalt V 301 O 73 Bannerman Res* Banro Corp T 74 Banro Corp* X 1045 Bard Ventures* O 15 Barkerville Go V 1759 Barkerville Go* O 455 Baroyeca Go&Si V 162 Barrick Gold* N 41057 Barrick Gold T 9291 Barsele Min V 311 Barsele Min* O 157 Batero Gold V 739 Bayhorse Silvr* O 137 Bayhorse Silvr V 2062 Bayswater Uran* O 13 Bayswater Uran V 227 V 107 BE Res Bear Creek Mng V 107 Bearing Lith* O 429 Bearing Lith V 475 Beaufield Res V 2815 O 561 Beaufield Res* V 136 Bell Copper Bell Copper* O 205 Belmont Res V 1117 Belo Sun Mng T 721 O 38 Belvedere Res* Berkwood Res V 2074 Berkwood Res * O 320 Besra Gold* O 469 Big Wind Cap 619 148 Bison Gold Res V Bitterroot Res V 306 Bitterroot Res* O 72 Black Dragon* O 50 Black Hills* N 1192 Black Iron T 919 10 Black Mam Mtls V Black Sea Cop V 86 2 Black Sea Cop* O Blackrock Gold V 1385 264 Blind Crk Res V BLOX Inc* O 105 Blue Rvr Res V 3121 100 Blue Sky Uran* O Bluestone Res V 83 Bonanza Gldfds* O 2568 BonTerra Res V 2188 BonTerra Res* O 138 BQ Metals V 250 Bravada Gold V 117 Bravada Gold* O 24 V 173 Braveheart Res Bravo Multinat* O 17 Bravura Vent 400 Brazil Mnrls* O 563 Brilliant Sand* O 50 Brio Gold T 84 Brixton Mtls V 202 Brixton Mtls* O 48 Broadway Gold V 172 Broadway Gold* O 87 O 1048 Brookmount Exp* Brunswick Res V 58 Buccaneer Gold V 76 Buenaventura* N 7791 Bullfrog Gold* O 907 Bullion Gld Res V 336 BWR Explor V 241

2.77 2.55 2.57 - 0.21 3.55 2.02 3.46 3.23 3.24 - 0.20 4.64 2.69 1.40 1.30 1.36 + 0.03 1.75 1.01 0.45 0.40 0.44 - 0.00 0.91 0.23 0.52 0.43 0.43 - 0.08 0.52 0.11 0.03 0.03 0.03 + 0.00 0.08 0.01 0.57 0.45 0.45 - 0.10 39.50 0.31 0.44 0.35 0.36 - 0.07 3.01 0.25 0.03 0.02 0.02 - 0.01 0.03 0.02 0.81 0.69 0.75 - 0.05 1.39 0.41 0.64 0.56 0.59 - 0.05 1.03 0.29 0.02 0.00 0.02 + 0.01 0.02 0.01 16.69 15.93 16.03 - 0.64 20.78 13.81 20.90 20.06 20.22 - 0.58 27.19 18.52 0.66 0.57 0.66 + 0.06 1.62 0.55 0.51 0.47 0.51 + 0.02 1.25 0.44 0.11 0.09 0.10 + 0.02 0.16 0.08 0.16 0.13 0.13 - 0.03 0.21 0.09 0.22 0.17 0.18 - 0.02 0.26 0.13 0.02 0.00 0.02 + 0.00 0.07 0.01 0.05 0.00 0.03 - 0.01 0.09 0.02 0.04 0.04 0.04 + 0.01 0.50 0.04 2.14 1.98 2.03 - 0.15 3.40 1.64 0.69 0.62 0.63 - 0.04 1.41 0.30 0.86 0.78 0.78 - 0.06 1.83 0.26 0.18 0.12 0.13 - 0.04 0.34 0.06 0.14 0.10 0.10 - 0.04 0.25 0.04 0.08 0.06 0.07 - 0.02 0.15 0.03 0.06 0.05 0.05 - 0.00 0.12 0.02 0.03 0.03 0.03 - 0.01 0.09 0.03 0.56 0.50 0.52 - 0.03 1.14 0.50 0.05 0.04 0.05 + 0.00 0.06 0.02 0.46 0.28 0.34 + 0.07 0.93 0.25 0.39 0.22 0.28 + 0.07 0.44 0.20 0.01 0.00 0.01 + 0.00 0.01 0.00 0.48 0.37 0.45 + 0.05 0.60 0.05 0.57 0.56 0.56 - 0.02 0.60 0.20 0.22 0.17 0.21 + 0.02 0.29 0.04 0.17 0.14 0.15 - 0.02 0.24 0.02 0.07 0.05 0.05 - 0.01 0.09 0.02 68.03 66.62 66.97 - 0.70 72.02 54.76 0.13 0.11 0.12 - 0.01 0.17 0.03 0.20 0.19 0.19 - 0.01 0.25 0.06 0.16 0.00 0.15 - 0.02 0.37 0.12 0.13 0.00 0.11 - 0.01 0.27 0.11 0.06 0.05 0.05 - 0.01 0.16 0.05 0.24 0.18 0.18 - 0.03 0.38 0.07 0.24 0.16 0.23 - 0.01 0.35 0.01 0.02 0.02 0.02 - 0.01 0.08 0.02 0.12 0.12 0.12 + 0.02 0.44 0.08 1.25 1.10 1.13 + 0.08 1.90 0.40 0.00 0.00 0.00 + 0.00 0.01 0.00 0.54 0.46 0.49 - 0.01 0.55 0.21 0.43 0.37 0.39 - 0.01 0.43 0.15 0.22 0.21 0.21 + 0.01 0.49 0.01 0.14 0.12 0.12 - 0.02 0.34 0.11 0.10 0.09 0.10 - 0.01 0.26 0.09 0.10 0.00 0.09 - 0.01 0.10 0.03 0.90 0.76 0.76 - 0.10 6.63 0.32 0.74 0.00 0.69 - 0.01 3.75 0.20 0.01 0.01 0.01 - 0.00 0.50 0.00 0.03 0.03 0.03 - 0.01 0.10 0.02 2.15 1.96 2.10 + 0.04 3.59 1.58 0.30 0.28 0.28 - 0.02 0.65 0.18 0.24 0.21 0.21 - 0.02 0.47 0.15 0.45 0.40 0.41 - 0.03 1.70 0.25 0.36 0.32 0.32 - 0.04 1.29 0.22 0.01 0.01 0.01 - 0.00 0.13 0.01 0.03 0.03 0.03 + 0.01 0.05 0.02 0.04 0.03 0.03 - 0.01 0.08 0.03 14.96 14.21 14.30 - 0.20 14.96 9.87 0.17 0.14 0.16 - 0.01 0.18 0.05 0.42 0.33 0.40 - 0.02 0.47 0.08 0.06 0.06 0.06 - 0.01 0.09 0.04

Cache Expl V 343 Cache Expl* O 51 Cadillac Vent V 157 X 22 Caledonia Mng* Caledonia Mng T 13 Calibre Mng V 1843 California Gld V 86 Callinex Mines V 406 Callinex Mines* O 212 Cameco Corp T 2829 Cameco Corp* N 5711 Camino Mnls* O 42 Camino Mnls V 444 Camrova Res V 310 Camrova Res* O 9 Canada Coal V 102 Canadian Mng V 275 Canadian Zeol V 699 Canadian Zeol* O 9 CanAlaska Uran* O 25 CanAlaska Uran V 74 CanAm Coal* O 383 Canamex Res* O 59 Canamex Res V 932 Canarc Res T 241 Canarc Res* O 103 Candente Coppr T 1981 Candente Gold V 676 Candente Gold* O 499 CANEX Metals V 1170 CaNickel Mng* O 4 CaNickel Mng V 53 Canoe Mng Vent V 232 Canstar Res* O 85 Canstar Res V 95 Cantex Mn Dev* O 5 Canuc Res V 114 Canuc Res* O 11 Canyon Copper* O 20 Capstone Mng T 6759 Caracara Silvr V 12 Cardero Res* O 15 Cardero Res V 143 Cardinal Res T 3583 Cariboo Rose V 254 Carmax Mng V 340 Cartier Iron 196 Cartier Res V 1277 Castle Silver V 1089 Castle Silver* O 76 Cautivo Mining 3 Cava Res V 1468 Cava Res* O 60 Cavan Vent V 31 Caza Gold* O 13 Cda Carbon* O 11 Cda Carbon V 186 Cda Rare Earth V 1413 Cda Rare Earth* O 21 Cda Strtgc Met V 1688 Cda Zinc Mtls V 613 Cdn Arrow V 1671 Cdn Arrow* O 66 Cdn Metals 703 Cdn Orebodies V 291 Cdn Platinum V 6646 Cdn Silvr Hunt V 162 Cdn Zinc* O 491 Cdn Zinc T 1749 Centamin T 17 Centaurus Diam* O 129 Centenera Mng V 87 Centerra Gold T 2517 Centurion Mnls V 397 Century Global T 25 Cerro Grande 87 Cerro Mng V 2 Ceylon Graph V 89 Chalice Gold M* O 158

0.09 0.08 0.08 - 0.01 0.31 0.07 0.07 0.06 0.06 - 0.02 0.21 0.06 0.05 0.05 0.05 - 0.01 0.06 0.03 5.85 5.60 5.60 - 0.36 6.75 0.05 7.40 7.06 7.09 - 0.29 12.00 6.30 0.13 0.11 0.13 + 0.01 0.30 0.10 0.46 0.44 0.46 - 0.02 0.64 0.23 0.38 0.36 0.37 - 0.03 0.67 0.28 0.31 0.29 0.29 - 0.01 0.50 0.21 11.59 11.17 11.37 - 0.07 17.65 9.93 9.26 8.95 9.01 - 0.14 13.36 7.41 0.37 0.35 0.35 - 0.02 1.62 0.00 0.47 0.42 0.43 - 0.04 2.23 0.15 0.15 0.00 0.15 + 0.05 0.33 0.06 0.15 0.00 0.15 + 0.07 0.21 0.00 0.03 0.02 0.03 + 0.01 0.10 0.02 0.43 0.28 0.28 - 0.13 0.79 0.10 0.43 0.38 0.41 - 0.02 1.95 0.33 0.34 0.32 0.32 - 0.01 1.46 0.27 0.28 0.24 0.26 + 0.02 0.59 0.24 0.34 0.31 0.32 + 0.01 0.78 0.29 0.01 0.00 0.00 + 0.00 0.01 0.00 0.12 0.11 0.12 - 0.00 0.13 0.06 0.15 0.13 0.13 - 0.02 0.19 0.08 0.09 0.08 0.09 + 0.01 0.13 0.07 0.06 0.06 0.06 + 0.00 0.09 0.05 0.18 0.14 0.16 + 0.03 0.18 0.06 0.06 0.04 0.05 + 0.01 0.08 0.03 0.04 0.03 0.04 + 0.01 0.05 0.02 0.05 0.04 0.04 - 0.02 0.14 0.04 0.13 0.09 0.13 + 0.04 0.23 0.03 0.21 0.12 0.21 + 0.10 0.33 0.05 0.12 0.09 0.09 - 0.03 0.15 0.04 0.07 0.06 0.07 + 0.01 0.17 0.04 0.08 0.07 0.08 + 0.01 0.23 0.00 0.01 0.01 0.01 + 0.00 0.06 0.01 0.42 0.37 0.41 + 0.04 0.60 0.25 0.31 0.30 0.30 + 0.01 0.41 0.22 0.15 0.14 0.15 - 0.00 0.22 0.09 1.58 1.45 1.55 + 0.11 1.81 0.70 0.02 0.01 0.02 + 0.01 0.02 0.01 0.12 0.11 0.11 - 0.00 0.19 0.05 0.18 0.14 0.14 + 0.02 0.24 0.07 0.72 0.68 0.68 - 0.04 1.05 0.54 0.11 0.09 0.09 - 0.01 0.26 0.08 0.05 0.05 0.05 - 0.01 0.06 0.03 0.10 0.08 0.09 - 0.01 0.16 0.03 0.27 0.25 0.25 - 0.01 0.38 0.14 0.19 0.16 0.16 - 0.01 0.30 0.02 0.15 0.13 0.13 + 0.01 0.22 0.03 0.70 0.00 0.70 + 0.14 0.85 0.20 0.32 0.25 0.28 + 0.02 0.52 0.15 0.24 0.23 0.24 + 0.05 0.24 0.14 0.10 0.08 0.09 + 0.01 0.11 0.02 0.01 0.00 0.01 + 0.01 0.04 0.00 0.11 0.09 0.09 - 0.02 0.23 0.09 0.13 0.12 0.12 - 0.01 0.31 0.11 0.04 0.03 0.03 - 0.01 0.06 0.03 0.03 0.02 0.03 + 0.00 0.05 0.02 0.13 0.10 0.12 + 0.02 0.16 0.09 0.33 0.30 0.31 - 0.01 0.48 0.22 0.02 0.01 0.01 - 0.01 0.03 0.01 0.02 0.01 0.01 - 0.00 0.02 0.01 0.08 0.06 0.07 + 0.01 0.19 0.05 0.25 0.22 0.24 - 0.01 0.53 0.19 0.03 0.02 0.02 + 0.01 0.05 0.01 0.10 0.06 0.07 - 0.02 0.12 0.02 0.15 0.13 0.13 - 0.02 0.24 0.11 0.19 0.17 0.17 - 0.02 0.32 0.15 2.46 2.33 2.39 - 0.09 3.23 1.84 0.07 0.04 0.06 - 0.00 0.10 0.01 0.18 0.16 0.16 - 0.01 0.45 0.15 9.35 9.04 9.12 - 0.11 9.35 5.56 0.04 0.04 0.04 + 0.01 0.09 0.04 0.17 0.17 0.17 + 0.01 0.72 0.13 0.01 0.01 0.01 - 0.01 0.08 0.01 0.04 0.00 0.04 - 0.02 0.18 0.04 0.19 0.18 0.18 - 0.01 0.45 0.16 0.17 0.14 0.14 - 0.02 0.25 0.09

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Chalice Gold M T 3280 0.21 0.18 0.19 - 0.01 0.33 0.14 Champion Bear V 48 0.15 0.00 0.15 + 0.02 0.28 0.06 Champion Iron* O 225 0.94 0.80 0.88 + 0.07 1.12 0.19 Champion Iron T 3590 1.16 1.00 1.10 + 0.11 1.47 0.23 Chantrell Vent V 720 0.09 0.08 0.08 - 0.01 0.11 0.05 Chatham Rock V 17 0.54 0.39 0.48 + 0.02 0.90 0.15 Chesapeake Gld* O 22 3.11 2.81 3.00 + 0.02 3.64 2.28 Chesapeake Gld V 23 3.90 3.60 3.87 + 0.14 4.89 2.91 Chevron Corp* N 25351 120.89 117.95 118.64 - 0.52 120.89 99.87 Chiboug Ind Mn V 1246 0.06 0.05 0.06 - 0.01 0.14 0.05 Chiboug Ind Mn* O 45 0.04 0.04 0.04 + 0.00 0.11 0.04 Chilean Metals V 154 0.09 0.07 0.08 + 0.01 0.33 0.07 Chilean Metals* O 73 0.07 0.00 0.06 - 0.01 0.24 0.05 Chimata Gold V 10 0.14 0.12 0.12 - 0.01 0.17 0.05 China Gold Int T 1764 2.15 2.03 2.11 + 0.04 3.67 1.82 China Mnls Mng* O 3 0.21 0.00 0.21 + 0.01 0.24 0.14 China Mnls Mng V 23 0.26 0.00 0.26 + 0.05 0.75 0.16 Cicada Vents V 1284 0.02 0.01 0.01 - 0.01 0.02 0.01 CIM Intl Grp 12 0.10 0.00 0.10 - 0.40 0.90 0.08 0.06 - 0.01 0.19 0.05 CKR Carbon V 754 0.07 0.06 Claim Post Res V 357 0.07 0.03 0.06 - 0.02 0.13 0.02 0.04 - 0.02 0.09 0.03 Clean Comm* O 25 0.06 0.04 Cleghorn Mnls V 330 0.07 0.06 0.06 - 0.01 0.16 0.06 Cleveland-Clif* N 76787 7.73 6.88 7.02 - 0.55 12.37 4.91 Clifton Mng* O 111 0.11 0.09 0.10 - 0.01 0.15 0.07 Cloud Peak En* N 9586 4.64 3.65 4.58 + 0.92 8.04 2.78 CMC Metals* O 350 0.08 0.07 0.08 + 0.00 0.10 0.06 CMC Metals V 785 0.10 0.08 0.09 + 0.01 0.15 0.08 CNRP Mng* O 76 0.45 0.31 0.38 + 0.08 1.00 0.02 Cobalt 27 Cap V 100 9.59 9.21 9.41 - 0.14 13.20 7.42 Cobalt Pwr Grp* O 186 0.13 0.12 0.12 + 0.01 0.16 0.06 0.17 0.14 0.17 + 0.03 0.19 0.05 Cobalt Pwr Grp V 5055 CobalTech M’g* O 51 0.12 0.11 0.11 + 0.00 0.32 0.08 CobalTech M’g V 1852 0.15 0.13 0.15 + 0.02 0.45 0.11 N 9043 9.06 8.20 8.31 - 0.63 12.30 7.30 Coeur Mng* Colibri Res* O 29 0.11 0.08 0.11 + 0.02 0.17 0.08 Colombia Crest V 1106 0.02 0.00 0.02 + 0.01 0.03 0.01 0.11 + 0.01 0.24 0.09 Colonial Coal V 1426 0.11 0.09 Colorado Res V 1535 0.28 0.22 0.23 - 0.05 0.46 0.18 Colorado Res* O 217 0.23 0.18 0.18 - 0.04 0.37 0.13 O 582 0.56 0.47 0.55 + 0.04 0.83 0.31 Columbus Gold* Columbus Gold T 544 0.70 0.60 0.70 + 0.05 1.09 0.42 Commander Res V 601 0.05 0.04 0.05 - 0.01 0.07 0.03 O 252 0.07 0.06 0.06 + 0.00 0.09 0.04 Commerce Res* Comstock Mng* X 9267 0.15 0.13 0.13 - 0.01 0.32 0.13 Comstock Mtls V 515 0.11 0.08 0.09 - 0.02 0.24 0.08 13 0.09 0.07 0.09 + 0.00 0.16 0.07 Comstock Mtls * O Condor Res V 362 0.11 0.09 0.10 - 0.01 0.19 0.07 Confedertn Ml* O 28 0.55 0.48 0.55 + 0.06 0.80 0.39 N 14321 16.12 15.51 15.88 + 0.01 22.34 13.55 CONSOL Energy* Constantine Mt V 438 0.26 0.24 0.25 - 0.01 0.35 0.09 Contact Gold V 27 0.73 0.00 0.72 + 0.03 1.10 0.67 3.14 - 0.38 5.75 2.62 Contintl Gold T 1715 3.58 3.12 Contintl Gold* O 131 2.84 2.48 2.48 - 0.32 4.39 1.90 Contintl Prec V 14 0.38 0.31 0.38 + 0.07 0.44 0.25 56 0.04 0.02 0.03 - 0.01 0.11 0.02 Copper Ck Gold V Copper Fox Mtl V 584 0.17 0.15 0.16 + 0.01 0.19 0.11 Copper Fox Mtl* O 30 0.13 0.12 0.12 - 0.01 0.15 0.08 220 1.22 1.16 1.20 + 0.08 1.22 0.32 Copper Mtn Mng* O Copper Mtn Mng T 4330 1.54 1.45 1.50 + 0.09 1.54 0.42 Copper North M V 60 0.08 0.00 0.08 + 0.01 0.13 0.07 0.04 - 0.01 0.30 0.03 Copper One V 664 0.04 0.04 Copperbank Res* O 122 0.10 0.08 0.10 + 0.00 0.14 0.04 Coral Gold * O 20 0.28 0.28 0.28 - 0.00 0.30 0.20 0.35 - 0.01 0.40 0.27 Coral Gold V 82 0.37 0.35 Corazon Gold* O 7 0.72 0.71 0.71 - 0.01 0.73 0.25 Cordoba Mnls* O 234 0.46 0.43 0.43 - 0.01 1.21 0.43 Cordoba Mnls V 612 0.59 0.54 0.56 + 0.01 1.59 0.54 Core Gold* O 27 0.26 0.22 0.25 - 0.01 0.32 0.13 Core Gold V 401 0.33 0.28 0.30 - 0.01 0.45 0.17 Corex Gold V 570 0.11 0.10 0.11 + 0.01 0.17 0.10 0.08 - 0.00 0.13 0.07 Corex Gold* O 45 0.08 0.08 Cornerstone Ca V 2371 0.35 0.25 0.27 - 0.07 0.55 0.15 Cornerstone Ca* O 591 0.28 0.20 0.22 - 0.05 0.44 0.10 V 1857 0.35 0.22 0.33 + 0.12 0.35 0.04 Cornerstone Mt Coro Mining T 1034 0.13 0.12 0.12 + 0.01 0.20 0.10 0.11 - 0.02 0.54 0.11 Coronet Mtls V 75 0.11 0.11 Corsa Coal * O 30 1.25 1.14 1.20 + 0.03 2.93 1.10 Corsa Coal V 62 1.55 1.42 1.55 + 0.10 3.82 1.34 0.92 - 0.09 1.07 0.37 Corvus Gold* O 171 1.01 0.87 Corvus Gold T 398 1.25 1.09 1.18 - 0.06 1.34 0.50 Critical Elem V 2153 1.85 1.61 1.74 + 0.09 1.85 0.47 Critical Elem* O 40 1.48 1.30 1.42 + 0.08 1.48 0.35 Crown Mining V 225 0.09 0.09 0.09 + 0.01 0.18 0.07 Cruz Cobalt* O 108 0.16 0.14 0.15 - 0.01 0.23 0.09 Cruz Cobalt V 1555 0.20 0.18 0.20 + 0.01 0.31 0.11 Crystal Lake V 152 0.29 0.20 0.23 + 0.03 0.39 0.16 Crystal Lake* O 45 0.20 0.00 0.20 + 0.05 0.25 0.13 Crystal Peak* O 27 0.32 0.31 0.31 - 0.03 0.42 0.20 Curlew Lke Res V 172 0.75 0.00 0.72 + 0.07 1.49 0.10 61 0.05 0.05 0.05 + 0.01 0.08 0.04 Currie Rose Rs V Cypress Dev V 944 0.18 0.15 0.17 - 0.02 0.19 0.08 Cypress Dev* O 196 0.14 0.12 0.14 + 0.00 0.14 0.06

(100s) Stock

0.09 0.08 0.09 + 0.00 0.12 0.06 0.04 0.03 0.04 - 0.00 0.10 0.02 0.01 0.00 0.01 + 0.00 0.03 0.00 1.43 1.26 1.40 + 0.08 1.78 1.06 1.14 1.01 1.12 + 0.05 1.37 0.78 0.61 0.59 0.59 - 0.03 0.65 0.27 0.18 0.18 0.18 + 0.02 0.44 0.14 0.25 0.21 0.24 + 0.03 0.57 0.17 0.02 0.00 0.01 - 0.01 0.03 0.01 0.10 0.09 0.10 - 0.01 0.20 0.04 0.09 0.07 0.08 - 0.00 0.16 0.03 0.21 0.00 0.21 + 0.03 0.30 0.06 0.25 0.19 0.22 + 0.03 0.39 0.08 0.27 0.24 0.24 - 0.03 0.45 0.21 0.22 0.19 0.19 - 0.03 0.35 0.16 1.89 1.79 1.86 - 0.03 1.94 0.55 0.55 0.51 0.52 - 0.03 1.10 0.49 0.44 0.41 0.41 - 0.02 0.84 0.37 0.25 0.24 0.24 - 0.01 0.40 0.14 14.73 13.59 13.65 - 0.89 27.08 13.24 0.04 0.03 0.03 - 0.01 0.21 0.02 0.46 0.38 0.40 - 0.05 1.38 0.38 0.36 0.31 0.31 - 0.08 1.00 0.32 0.11 0.00 0.10 - 0.01 0.23 0.10 0.10 0.08 0.08 - 0.02 0.12 0.06 0.00 0.00 0.00 - 0.00 0.00 0.00 0.06 0.05 0.05 - 0.01 0.12 0.05 0.85 0.00 0.85 + 0.04 0.92 0.45 0.10 0.09 0.09 - 0.01 0.16 0.02 0.08 0.07 0.07 - 0.01 0.13 0.00 0.04 0.03 0.03 - 0.00 0.13 0.00 0.58 0.50 0.54 - 0.04 0.71 0.35 0.73 0.63 0.63 - 0.09 0.88 0.45 14.19 14.16 14.19 + 0.02 14.23 8.29 17.93 17.66 17.92 + 0.23 18.27 11.07 0.26 0.23 0.26 + 0.01 0.33 0.10 0.09 0.07 0.08 - 0.01 0.19 0.04 3.75 3.48 3.55 - 0.15 6.67 2.84 2.61 2.41 2.45 - 0.12 3.70 1.87 0.06 0.05 0.05 - 0.01 0.22 0.05 0.09 0.07 0.08 - 0.01 0.36 0.05 0.24 0.23 0.24 + 0.01 0.60 0.23 2.03 1.88 2.00 + 0.05 2.79 1.82 1.64 1.49 1.58 + 0.03 2.10 1.37 1.50 0.00 1.38 + 0.18 2.00 0.25 0.14 0.12 0.12 - 0.02 0.14 0.12 0.59 0.35 0.59 + 0.24 0.78 0.18 0.02 0.01 0.02 + 0.00 0.04 0.01 0.15 0.13 0.14 - 0.02 0.24 0.11 0.25 0.23 0.24 - 0.03 0.33 0.17 0.19 0.18 0.18 - 0.01 0.24 0.13 0.09 0.00 0.09 + 0.00 0.49 0.09 0.12 0.10 0.10 - 0.01 0.74 0.05 0.26 0.24 0.25 - 0.01 0.54 0.19 0.34 0.30 0.32 - 0.01 0.72 0.23 0.04 0.04 0.04 - 0.01 0.08 0.03 0.28 0.25 0.26 - 0.01 0.61 0.21 1.17 1.01 1.15 + 0.11 1.48 0.46 0.93 0.81 0.91 + 0.08 1.22 0.34 0.16 0.15 0.15 - 0.01 0.25 0.13 0.11 0.00 0.11 - 0.01 0.16 0.11 0.05 0.04 0.04 - 0.00 2.35 0.04 0.04 0.03 0.04 + 0.01 0.05 0.02 0.19 0.13 0.19 + 0.03 0.40 0.13 0.16 0.12 0.14 - 0.00 0.30 0.12 2.26 2.13 2.17 - 0.09 3.91 1.77 2.83 2.65 2.73 - 0.08 5.13 2.24 0.01 0.01 0.01 - 0.01 0.05 0.01 0.66 0.64 0.65 + 0.00 0.68 0.30 0.85 0.80 0.81 - 0.04 0.87 0.36 0.14 0.12 0.12 - 0.02 0.23 0.11 0.12 0.10 0.10 - 0.01 0.17 0.08 0.35 0.33 0.33 + 0.01 0.49 0.30 0.27 0.25 0.26 + 0.00 0.37 0.23 0.10 0.09 0.09 - 0.01 0.22 0.06 0.20 0.00 0.17 - 0.04 0.40 0.15 0.19 0.00 0.18 + 0.02 0.25 0.16

12-month

0.07 0.27 + 0.09 0.30 Empire Rock V 72 0.27 0.18 0.74 0.74 - 0.03 1.24 EMX Royalty* X 266 0.78 0.74 0.91 0.94 - 0.06 1.60 EMX Royalty V 44 0.99 0.92 0.03 0.04 - 0.00 0.13 O 561 0.04 0.03 Encanto Potash* 13.00 18.35 - 1.27 21.89 O 21 19.64 18.11 Endeavour Mng* 17.37 23.12 - 1.36 28.81 Endeavour Mng T 499 24.82 22.76 2.08 2.30 - 0.21 5.07 N 5559 2.54 2.30 Endeavr Silver* 2.64 2.90 - 0.22 6.82 Endeavr Silver T 813 3.18 2.87 0.04 0.06 - 0.02 0.10 V 392 0.08 0.06 Endurance Gold 1.29 1.39 - 0.02 2.71 Energy Fuels* X 903 1.44 1.36 1.70 1.75 - 0.01 3.53 Energy Fuels T 269 1.80 1.70 0.09 0.10 - 0.01 0.28 Enforcer Gold V 936 0.12 0.09 0.05 0.20 - 0.01 0.50 Engold Mines* O 56 0.21 0.20 0.07 0.25 - 0.02 0.68 Engold Mines V 165 0.26 0.24 0.21 0.45 + 0.03 0.72 Entree Gold* X 490 0.45 0.42 0.29 0.56 + 0.04 0.94 Entree Gold T 428 0.58 0.52 0.03 0.04 + 0.00 0.10 Equitorial Ex* O 58 0.04 0.04 0.03 0.07 + 0.02 0.14 Equitorial Ex V 1514 0.07 0.06 0.61 0.57 0.57 - 0.04 1.00 0.28 73 Erdene Res Dev* O 0.76 0.70 0.70 - 0.07 1.40 0.37 394 Erdene Res Dev T 4.70 4.90 + 0.15 4.95 Ero Copper T 1689 4.95 4.70 0.16 0.15 0.15 - 0.00 0.17 0.10 113 Eros Res Corp* O 0.15 0.24 - 0.02 0.45 Eskay Mng V 331 0.29 0.18 0.10 0.11 + 0.00 0.23 Ethos Gold* O 52 0.12 0.10 0.13 0.16 + 0.01 0.30 Ethos Gold V 469 0.16 0.14 1.19 1.09 1.11 - 0.01 1.55 0.47 16 Euro Sun Mg* O 1.52 1.30 1.37 - 0.04 2.02 0.62 114 T Euro Sun Mg 0.00 0.00 - 0.01 0.01 O 15 0.01 0.00 European Metal* 0.04 0.07 + 0.01 0.12 V 65 0.07 0.00 Eurotin 0.03 0.03 - 0.00 0.09 Everton Res* O 7 0.03 0.03 0.13 0.36 - 0.01 0.41 Evolving Gold 89 0.41 0.36 0.10 0.30 + 0.01 0.32 O 4 0.30 0.00 Evolving Gold* 0.92 1.55 - 0.15 1.87 Excellon Res* O 714 1.81 1.51 1.22 1.92 - 0.22 2.30 Excellon Res T 2183 2.27 1.90 0.30 0.98 - 0.03 1.18 O 68 1.04 0.97 Excelsior Mng* 0.39 1.22 - 0.03 1.48 Excelsior Mng T 329 1.30 1.21 0.01 0.01 0.01 - 0.00 0.03 0.00 101 ExGen Res Inc* O 0.04 0.05 - 0.01 0.09 Explor Res* O 196 0.05 0.04 0.06 0.06 - 0.01 0.11 Explor Res V 432 0.06 0.06 0.10 0.26 - 0.01 0.29 Explorex Res 223 0.29 0.25 0.10 0.21 + 0.02 0.21 Explorex Res* O 231 0.21 0.19 0.77 1.09 - 0.15 1.65 Falco Res V 2197 1.25 1.06 1.00 0.85 0.86 - 0.14 1.17 0.57 104 O Falco Res * 0.04 0.04 - 0.01 0.20 Falcon Gold V 344 0.04 0.04 0.03 0.06 + 0.01 0.08 Fancamp Expl V 223 0.06 0.05 0.06 0.31 + 0.02 0.38 Far Res 7064 0.34 0.28 0.05 0.24 + 0.01 0.41 Far Res* O 634 0.27 0.23 2.65 2.37 2.51 - 0.07 3.00 1.55 79 Filo Mg Corp V 0.22 0.61 - 0.07 0.72 Fiore Gold* O 565 0.69 0.58 0.69 0.75 - 0.09 1.10 Fiore Gold V 1776 0.86 0.73 0.04 0.10 + 0.01 0.12 Firesteel Res V 685 0.10 0.00 0.03 0.12 + 0.03 0.15 Firestone Vent V 395 0.12 0.08 0.67 0.78 + 0.06 1.00 Fireweed Zinc V 329 0.78 0.67 0.03 0.08 + 0.01 0.12 O 251 0.08 0.06 Firma Holdings* 0.22 0.72 + 0.07 0.92 First Cobalt V 3266 0.75 0.63 0.60 0.50 0.57 + 0.06 0.67 0.31 275 First Cobalt * O 0.04 0.04 - 0.01 0.10 First Energy V 71 0.04 0.00 7.34 6.80 7.00 - 0.27 10.92 5.92 First Majestic* N 10449 7.51 First Majestic T 2586 9.20 8.50 8.83 - 0.25 14.36 0.02 0.02 - 0.01 0.04 First Mexican V 134 0.02 0.02 0.52 0.49 0.49 - 0.01 0.84 0.42 First Mg Fin * O 2254 0.00 0.00 + 0.00 0.00 First Nickel* O 70 0.00 0.00 0.05 0.08 + 0.01 0.12 First Point* O 50 0.08 0.07 15.07 - 0.39 17.55 9.69 First Quantum T 9610 16.37 14.60 0.06 0.05 0.05 - 0.01 0.13 0.05 946 V Fission 3.0 0.49 0.59 - 0.01 0.92 Fission Uran T 803 0.62 0.58 0.36 0.47 - 0.01 0.70 Fission Uran* O 973 0.50 0.46 0.27 0.21 0.25 - 0.02 0.55 0.17 475 Five Star Diam V 0.07 0.23 - 0.02 0.47 O 125 0.24 0.23 Fjordland Exp* 0.10 0.26 - 0.05 0.59 Fjordland Exp V 255 0.30 0.24 0.04 0.00 0.11 + 0.06 O 762 0.06 0.06 Focus Graphite* 0.06 0.07 - 0.01 0.15 V 961 0.08 0.07 Focus Graphite 0.02 0.03 + 0.01 0.08 Focus Vent V 2994 0.04 0.03 0.17 0.30 - 0.01 0.47 Foran Mng V 315 0.35 0.28 0.06 0.12 + 0.01 0.28 Forsys Metals T 174 0.12 0.12 0.28 0.21 0.21 - 0.07 0.30 0.08 48 Fort St James V 3.35 3.80 - 0.10 5.50 O 73 4.05 3.75 Fortescue Mtls* 5.85 5.41 5.49 - 0.31 10.32 5.42 T 1363 Fortuna Silvr 4.11 4.36 - 0.29 7.73 Fortuna Silvr* N 4847 4.67 4.29 0.30 0.40 + 0.00 0.64 Fortune Bay* O 1 0.40 0.00 0.07 0.16 - 0.00 0.26 O 732 0.18 0.16 Fortune Mnrls* 0.03 0.05 + 0.00 0.12 O 101 0.05 0.05 Forum Uranium* 0.07 0.09 - 0.01 0.15 FPX Nickel V 946 0.11 0.09 53.31 79.67 - 1.10 85.03 N 1757 81.03 79.00 Franco-Nevada* Franco-Nevada T 1209 101.24 98.95 100.58 - 0.28 104.00 71.44 0.00 0.00 - 0.00 0.01 Franklin Mng* O 55 0.00 0.00 0.07 0.10 - 0.01 0.14 Freedom Egy V 43 0.10 0.07 0.08 0.12 + 0.01 0.19 Freegold Vent T 252 0.12 0.11 14.83 + 0.08 17.06 9.85 N 94591 15.59 14.45 Freeport McMoR* 13.18 17.94 - 1.97 22.30 Fresnillo plc* O 7 19.23 17.94 0.24 0.44 + 0.02 0.46 Frontier Lith V 195 0.45 0.41 0.09 0.00 0.09 + 0.01 0.13 0.05 6 Full Metal Mnl V 0.12 0.40 + 0.01 0.50 Fura Gems V 696 0.43 0.37

G-H

D-F Dajin Res* O 288 Dakota Ter Res* O 10 Daleco Res* O 14 Dalradian Res T 7724 O 294 Dalradian Res* Danakali* O 77 Darnley Bay* O 56 Darnley Bay V 1092 Debut Dmds 36 Decade Res V 396 Decade Res* O 435 Declan Res 45 Deep-South Res V 218 Defiance Silvr V 487 Defiance Silvr* O 191 Delrand Res V 45 Denison Mines T 1317 Denison Mines* X 993 Desert Gold V 484 Detour Gold T 2495 Diamante Min* O 234 Diamcor Mng V 333 Diamcor Mng* O 48 V 26 Diamond Fields Dios Expl V 602 Discovery Gold* O 50 Discovery Harb V 65 Discovery Met V 28 DNI Metals 1182 DNI Metals* O 241 Dolat Ventures* O 19381 47 Dolly Vard Sil* O Dolly Vard Sil V 178 Dominion Diam* N 2497 Dominion Diam T 366 Dorex Mnrls V 172 Doubleview Cap V 497 DRDGOLD* N 481 Dundee Prec Mt T 476 Durango Res* O 5 Durango Res V 849 DuSolo Fertil V 21 Dynacor Gld Mn T 94 Dynacor Gld Mn* O 19 Dynamic Gold* O 1 Dynasty Gold * O 8 E3 Metals V 743 Eagle Graphite* O 38 Eagle Plains V 350 East Africa V 214 East Africa * O 56 East Asia Mnls* O 66 East Asia Mnls V 952 Eastern Platin* O 8 Eastern Platin T 105 Eastfield Res V 658 Eastmain Res* O 272 eCobalt Solns T 3503 eCobalt Solns* O 960 Edgewater Expl V 137 Edgewater Expl* O 11 El Capitan Prc* O 1583 El Nino Vent V 350 Elcora Res V 294 Elcora Res* O 91 Eldorado Gold* N 22351 Eldorado Gold T 6597 Electra Stone V 582 Eloro Mnrls* O 46 Eloro Mnrls V 32 Ely Gold & Mnl V 528 Ely Gold & Mnl* O 214 Elysee Dev V 24 Elysee Dev * O 18 Emerita Res V 310 Emgold Mng V 29 Emgold Mng* O 32

Week

Exc Volume High Low Last Change High Low

Gabriel Res T 374 Gainey Capital V 215 Galantas Gold V 425 Galway Gold V 295 Galway Mtls* O 148 Galway Mtls V 116 Garibaldi Res V 5116 785 Garibaldi Res * O General Moly T 7 General Moly* X 772 Genesis Mtls* O 71 Genesis Mtls V 299 Genius Props 1219 V 1331 Gensource Pot Geodex Mnrls V 15 O 158 Geologix Expl* Geologix Expl V 894 O 167 Geomega Res* Geomega Res V 186 203 Gespeg Cop Res V Getty Copper V 32 O 48 GFG Resources* GGL Res V 16 GGX Gold V 726 Giga Metals* O 68 Giga Metals V 422 Giyani Gold V 112 Giyani Gold* O 25 O 70 Gldn Predator* Gldn Predator V 444 217 Glen Eagle Res V Glencore Plc* O 2396 Global Energy V 213 Global Li-Ion 2683 Global Li-Ion* O 0 Globex Mng* O 44 Globex Mng T 494 O 58 GMV Minerals* V 37 GobiMin GoGold Res T 1374 30676 Gold Fields* N Gold Mng USA* O 2784 Gold Reserve* O 84 Gold Reserve V 153 X 1436 Gold Resource* Gold Std Vents* X 1245 629 Gold Std Vents T Goldcliff Res* O 19 Goldcliff Res V 252 T 7936 Goldcorp Goldcorp* N 28211 Golden Arrow* O 458 Golden Arrow V 386 V 50 Golden Cariboo Golden Dawn Ml V 1198 16 Golden Dawn Ml* O Golden Eagle* O 107 O 222 Golden Global* V 325 Golden Goliath O 29 Golden Goliath* Golden Harp V 23 Golden Hope* O 9 Golden Mnls T 23 Golden Mnls* X 481 274 Golden Peak Mn V O 1737 Golden Queen* Golden Queen T 2424 Golden Secret V 72 Golden Star T 265 Golden Star* X 4250 Golden Valley* O 104 Golden Valley V 159 Goldex Res V 16 T 108 Goldgroup Mng O 230 Goldgroup Mng* GoldMining V 650 GoldON Res* O 59

0.26 0.30 - 0.01 0.63 0.31 0.29 0.09 0.12 - 0.01 0.34 0.14 0.12 0.07 0.08 - 0.01 0.16 0.09 0.08 0.06 0.07 - 0.01 0.13 0.09 0.07 0.18 0.31 - 0.00 0.36 0.32 0.29 0.23 0.39 + 0.03 0.50 0.39 0.35 0.08 3.89 + 0.32 4.20 4.00 3.16 3.17 2.59 3.10 + 0.22 3.35 0.06 0.30 0.42 - 0.06 0.95 0.45 0.40 0.21 0.33 - 0.03 0.72 0.37 0.31 0.08 0.09 - 0.02 0.18 0.11 0.09 0.09 0.12 - 0.01 0.22 0.13 0.12 0.11 0.15 - 0.01 0.38 0.16 0.14 0.06 0.08 - 0.01 0.25 0.09 0.08 0.05 0.19 + 0.01 0.19 0.19 0.15 0.03 0.05 - 0.01 0.07 0.06 0.05 0.05 0.06 - 0.01 0.10 0.07 0.06 0.04 0.07 + 0.00 0.12 0.07 0.07 0.06 0.09 + 0.01 0.16 0.09 0.08 0.06 0.05 0.06 + 0.01 0.08 0.02 0.01 0.03 - 0.01 0.04 0.03 0.02 0.39 0.50 - 0.05 1.00 0.55 0.48 0.10 0.13 + 0.01 0.25 0.13 0.11 0.07 0.17 + 0.01 0.32 0.17 0.15 0.11 0.36 + 0.00 0.36 0.36 0.00 0.05 0.50 + 0.02 0.50 0.50 0.38 0.23 0.39 + 0.04 0.70 0.40 0.35 0.19 0.33 + 0.04 0.50 0.33 0.29 0.38 0.66 - 0.10 1.59 0.74 0.66 0.50 0.83 - 0.08 2.05 0.94 0.83 0.23 0.20 0.22 + 0.01 0.31 0.09 10.22 9.78 9.93 - 0.10 10.22 5.70 0.10 0.13 + 0.01 0.67 0.15 0.12 0.30 0.81 + 0.15 0.81 0.81 0.64 0.23 0.63 + 0.19 0.63 0.63 0.63 0.21 0.35 - 0.02 0.48 0.38 0.35 0.28 0.46 + 0.01 0.63 0.49 0.44 0.22 0.28 - 0.00 0.49 0.32 0.27 0.40 0.41 + 0.01 0.58 0.47 0.40 0.41 0.45 - 0.06 0.99 0.52 0.44 2.60 3.97 - 0.15 4.70 4.24 3.97 0.03 0.02 0.03 + 0.01 0.03 0.00 1.94 4.13 - 0.07 5.16 4.25 4.01 2.61 5.30 + 0.05 6.75 5.35 4.99 3.08 3.71 - 0.10 6.45 3.85 3.65 1.62 1.49 1.53 - 0.09 2.95 1.47 2.02 1.87 1.94 - 0.08 3.85 1.81 0.08 0.12 + 0.00 0.34 0.14 0.12 0.11 0.16 + 0.01 0.45 0.17 0.15 15.56 16.54 - 0.18 23.35 16.85 16.20 11.91 13.09 - 0.31 17.87 13.44 12.92 0.40 0.40 - 0.01 0.71 0.43 0.39 0.50 0.51 - 0.01 0.97 0.53 0.50 0.05 0.12 - 0.01 0.19 0.12 0.12 0.29 0.24 0.29 + 0.05 0.42 0.19 0.23 0.20 0.23 + 0.03 0.32 0.14 0.02 0.08 + 0.01 0.11 0.08 0.07 0.00 0.01 - 0.01 0.36 0.02 0.00 0.04 0.05 + 0.01 0.08 0.05 0.04 0.02 0.03 + 0.00 0.07 0.03 0.03 0.07 0.07 - 0.01 0.24 0.07 0.00 0.08 0.09 - 0.00 0.25 0.09 0.09 0.55 0.54 - 0.04 1.10 0.58 0.54 0.43 0.43 - 0.04 0.85 0.47 0.43 0.32 0.24 0.24 - 0.05 0.74 0.21 0.23 0.25 - 0.07 0.86 0.31 0.25 0.29 0.32 - 0.10 1.15 0.40 0.31 0.19 0.24 - 0.02 0.45 0.26 0.24 0.76 0.95 - 0.05 1.33 1.00 0.94 0.59 0.75 - 0.05 1.01 0.82 0.75 0.20 0.21 - 0.01 0.38 0.22 0.21 0.24 0.28 - 0.01 0.50 0.29 0.28 0.45 0.49 + 0.04 1.04 0.51 0.00 0.07 0.07 - 0.01 0.29 0.08 0.00 0.05 0.05 - 0.00 0.22 0.06 0.05 1.43 1.55 - 0.09 2.72 1.64 1.43 0.09 0.14 - 0.02 0.16 0.16 0.14

2017-10-24 5:32 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / OCTOBER 30â&#x20AC;&#x201C;NOVEMBER 12, 2017

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

Week

12-month

Exc Volume High Low Last Change High Low

GoldON Res V 13 GoldQuest Mng V 992 Goldrea Res 540 Goldrea Res* O 5 Goldrich Mng* O 25 Goldsource Min* O 139 Goldsource Min V 315 Goldstar Mnls V 291 Goldstream Mnl V 50 Goldstrike Res V 1163 Goliath Res V 216 Gossan Res V 863 GoviEx Uranium* O 154 Gowest Gold V 600 Gowest Gold* O 146 GPM Metals* O 11 GPM Metals V 671 Gran Colombia T 613 O 113 Gran Colombia* Granada Gold* O 639 O 76 Grande Portage* Grande Portage V 402 Graphite Corp* O 432 Graphite Egy 42 Graphite One* O 709 Great Bear Res V 246 Great Panther* X 2546 Great Panther T 228 Great Quest Fe V 82 Great Rock Dev* O 221 Great Thunder V 3507 Great Western* O 70 Green Arrow V 126 Green Swan Cap V 313 Green Valley M V 34 Greencastle Rs V 322 Greenland M&En* O 396 Grizzly Discvr V 163 Group Ten Mtls* O 55 Group Ten Mtls V 215 O 184 GrowMax Res* GrowMax Res V 485 GT Gold V 4752 O 421 GT Gold * GTA Res & Mng V 236 Guerrero Vents V 380 Gungnir Res V 1075 Gungnir Res* O 351 Guyana Gldflds T 1351 Guyana Goldstr V 26 Handa Copper V 18 Hannan Metals V 162 Hannan Metals* O 46 Harfang Explor V 140 Harmony Gold* N 18266 Harte Gold* O 805 Harte Gold T 2238 Harvest Gold V 359 Hawkeye Gld&Di V 404 Hecla Mining* N 14001 Hellix Vent* O 237 Hemcare Health* O 113 Heron Res* O 426 Highbank Res V 1243 Highland Copp V 1613 O 81 Highland Copp* Highway 50 Gld V 123 HiHo Silver 416 Hinterland Mtl V 264 Honey Badger E V 36 Horizonte Mnls T 360 Hornby Bay Mnl V 33 HudBay Mnls* N 5658 HudBay Mnls T 11466 Hudson Res V 190 Hudson Res* O 313 Hunt Mng* O 13 Hunt Mng V 48 Hycroft Mg* O 113

0.19 0.00 0.15 - 0.04 0.23 0.10 0.36 0.34 0.34 - 0.02 0.59 0.20 0.06 0.04 0.04 - 0.02 0.14 0.03 0.04 0.03 0.03 - 0.01 0.08 0.01 0.05 0.03 0.05 - 0.00 0.06 0.02 0.08 0.07 0.08 - 0.01 0.30 0.06 0.11 0.09 0.10 - 0.01 0.35 0.09 0.04 0.03 0.03 - 0.01 0.09 0.03 0.07 0.07 0.07 - 0.01 0.14 0.05 0.30 0.25 0.26 - 0.03 0.43 0.12 0.40 0.23 0.25 - 0.10 0.40 0.04 0.09 0.07 0.08 + 0.01 0.09 0.05 0.16 0.15 0.16 + 0.00 0.34 0.07 0.18 0.16 0.16 - 0.02 0.25 0.10 0.14 0.12 0.14 - 0.01 0.18 0.08 0.08 0.07 0.07 - 0.01 0.20 0.06 0.10 0.07 0.08 - 0.01 0.29 0.07 1.92 1.73 1.84 - 0.05 2.23 1.20 1.47 1.38 1.44 - 0.06 1.81 1.02 0.04 0.03 0.03 - 0.00 0.07 0.03 0.54 0.54 0.54 - 0.00 0.56 0.10 0.69 0.00 0.62 - 0.05 0.71 0.14 0.00 0.00 0.00 - 0.00 0.01 0.00 0.42 0.40 0.41 + 0.01 0.42 0.40 0.04 0.03 0.04 + 0.00 0.09 0.03 0.32 0.30 0.31 - 0.03 0.50 0.13 1.29 1.23 1.24 - 0.04 2.28 1.11 1.62 1.54 1.56 - 0.04 2.95 1.48 0.19 0.00 0.16 - 0.03 0.33 0.14 0.00 0.00 0.00 - 0.00 0.01 0.00 0.05 0.03 0.04 - 0.01 0.10 0.03 0.00 0.00 0.00 - 0.00 0.00 0.00 0.04 0.00 0.04 + 0.01 0.05 0.03 0.07 0.06 0.07 - 0.01 0.13 0.05 0.13 0.12 0.12 - 0.03 0.27 0.07 0.09 0.08 0.08 - 0.01 0.14 0.07 0.09 0.08 0.08 - 0.00 0.16 0.03 0.05 0.00 0.05 - 0.01 0.06 0.03 0.14 0.13 0.14 - 0.00 0.17 0.06 0.18 0.16 0.17 + 0.01 0.24 0.08 0.09 0.08 0.08 - 0.00 0.13 0.07 0.11 0.10 0.11 - 0.01 0.18 0.09 1.85 1.08 1.10 - 0.75 2.76 0.10 1.48 0.86 0.89 - 0.60 2.24 0.25 0.04 0.04 0.04 - 0.01 0.13 0.04 0.02 0.02 0.02 + 0.01 0.04 0.01 0.22 0.15 0.18 + 0.02 0.22 0.03 0.17 0.12 0.15 + 0.02 0.17 0.02 4.85 4.49 4.69 - 0.12 8.55 3.96 0.21 0.18 0.20 - 0.02 0.35 0.14 0.09 0.07 0.09 + 0.02 0.18 0.05 0.32 0.28 0.28 - 0.03 0.51 0.10 0.24 0.00 0.23 - 0.02 0.39 0.20 0.26 0.00 0.25 - 0.01 0.33 0.03 1.88 1.65 1.66 - 0.22 3.51 1.56 0.48 0.38 0.42 - 0.06 0.66 0.19 0.59 0.48 0.53 - 0.05 0.87 0.23 0.05 0.04 0.05 + 0.01 0.07 0.03 0.10 0.06 0.08 + 0.01 0.33 0.06 5.32 4.97 5.00 - 0.25 7.64 4.61 0.04 0.01 0.03 + 0.02 0.23 0.00 0.08 0.06 0.07 - 0.00 0.23 0.01 0.05 0.05 0.05 + 0.00 0.11 0.05 0.02 0.02 0.02 - 0.01 0.06 0.02 0.17 0.12 0.16 + 0.05 0.18 0.08 0.13 0.09 0.13 + 0.04 0.14 0.06 0.37 0.34 0.34 - 0.02 0.66 0.08 0.07 0.05 0.05 - 0.02 0.18 0.03 0.03 0.03 0.03 - 0.01 0.06 0.02 0.07 0.00 0.06 - 0.01 0.20 0.05 0.07 0.07 0.07 + 0.01 0.07 0.03 0.06 0.00 0.06 - 0.01 0.09 0.03 8.63 7.61 7.80 - 0.15 9.35 3.80 10.79 9.53 9.90 - 0.01 11.95 5.08 0.45 0.41 0.42 - 0.03 0.80 0.32 0.38 0.33 0.34 - 0.00 0.60 0.24 0.16 0.12 0.16 + 0.01 0.25 0.11 0.20 0.15 0.15 - 0.04 0.35 0.13 0.40 0.20 0.33 + 0.03 2.00 0.00

I-Minerals* O 20 I-Minerals V 27 IAMGOLD T 9468 IAMGOLD* N 34573 IC Potash T 5651 Icon Explor V 277 IDM Mining* O 149 IDM Mining V 875 iMetal Res V 546 iMetal Res* O 174 IMPACT Silver V 353 Imperial Metal T 223 Imperial Metal* O 7 Inca One Gold V 4952 Inca One Gold* O 109 Inception Mng * O 56 O 6 Independence G* Inform Res V 182 Inomin Mines V 80 Inspiration Mg* O 2 Inspiration Mg 12 Intact Gold V 1595 V 181 Inter-Rock Mnl Interconnect V 16 Intgr Egy Sol* O 162353 Intl Battery* O 623 Intl Cobalt 2540 Intl Corona V 181 Intl Lithium* O 271 Intl Lithium V 1144 Intl Millm Mng V 467 Intl Montoro V 97 715 Intl Samuel Ex V T 128 Intl Tower Hil Intl Tower Hil* X 352 Intrepid Pots* N 4073 INV Metals T 300 Inventus Mg * O 39 Inventus Mg V 825 InZinc Mining V 278 InZinc Mining* O 23 Ireland* O 235 Ironside Res V 31 Irving Res 96 Irving Res* O 31 IsoEnergy Ltd V 243 Itafos* O 25 Itafos V 69 Itoco Mg Corp* O 158 Ivanhoe Mines* O 465 Ivanhoe Mines T 6208 Jaguar Mng T 858 Jaguar Mng* O 143 Japan Gold V 176 Japan Gold* O 84 Jasper Mng V 14 Jaxon Mining V 902 Jayden Res* O 2 Jayden Res V 1260 K2 Gold V 67 K92 Mng Inc* O 655 K92 Mng Inc V 5560 Kairos Cap V 57 Kaizen Discov V 1028 Kaizen Discvry* O 43 Kapuskasing Gd V 284 Karmin Expl V 147 Karnalyte Res T 33 KAT Expl* O 7880 Katanga Mng T 5115 Kenadyr Mining V 675 Kenadyr Mining* O 47 Kennady Diam V 162 Kermode Res V 321 Kerr Mines* O 271 Kerr Mines T 1221 Kesselrun Res V 975 Kesselrun Res* O 521 Kestrel Gold V 1436 Khalkos Expl V 604 Kilo Goldmines V 3670 Kincora Copper* O 107 Kincora Copper V 276 Kings Bay Res* O 4 Kinross Gold* N 30465 Kinross Gold T 10399 Kirkland Lake T 3590 Kirkland Lake* N 2289 Kitrinor Mtls V 32 Klondex Mines T 2161 Klondike Gold V 1006

0.24 0.24 0.24 - 0.00 0.44 0.20 0.30 0.29 0.29 - 0.02 0.60 0.27 7.74 6.95 7.25 - 0.42 8.87 4.24 6.19 5.52 5.74 - 0.41 7.25 3.16 0.03 0.02 0.02 + 0.01 0.14 0.02 0.06 0.06 0.06 - 0.02 0.10 0.01 0.11 0.10 0.11 + 0.01 0.16 0.08 0.13 0.12 0.13 - 0.01 0.21 0.12 0.08 0.06 0.07 - 0.01 0.09 0.04 0.05 0.05 0.05 + 0.00 0.07 0.03 0.36 0.31 0.33 - 0.02 0.88 0.28 3.76 3.23 3.23 - 0.38 7.89 2.94 2.91 2.68 2.75 - 0.07 5.86 2.16 0.07 0.06 0.07 - 0.01 0.43 0.06 0.05 0.04 0.04 - 0.02 0.33 0.04 0.28 0.00 0.25 - 0.02 0.80 0.15 0.12 0.11 0.12 - 0.01 0.21 0.10 0.25 0.00 0.25 + 0.05 0.25 0.06 0.10 0.06 0.06 - 0.03 0.10 0.02 0.02 0.01 0.02 + 0.01 0.06 0.01 0.04 0.00 0.04 + 0.02 0.09 0.01 0.02 0.02 0.02 - 0.01 0.08 0.02 0.37 0.31 0.31 - 0.04 0.40 0.05 0.06 0.06 0.06 - 0.01 0.07 0.05 0.00 0.00 0.00 + 0.00 0.00 0.00 0.68 0.55 0.61 + 0.04 1.11 0.28 0.40 0.24 0.27 + 0.02 0.40 0.00 0.05 0.04 0.05 + 0.01 0.17 0.03 0.13 0.11 0.13 + 0.01 0.13 0.06 0.17 0.13 0.17 + 0.02 0.19 0.07 0.03 0.03 0.03 - 0.01 0.06 0.03 0.06 0.00 0.06 + 0.01 0.15 0.05 0.11 0.10 0.10 - 0.02 0.15 0.05 0.70 0.62 0.64 - 0.02 1.15 0.57 0.55 0.50 0.51 - 0.02 0.87 0.43 4.22 3.75 3.78 - 0.31 4.63 1.00 0.88 0.00 0.85 + 0.01 1.13 0.62 0.24 0.20 0.20 - 0.05 0.31 0.11 0.32 0.25 0.25 - 0.07 0.39 0.13 0.14 0.12 0.12 - 0.02 0.36 0.10 0.10 0.10 0.10 - 0.01 0.27 0.07 0.19 0.15 0.19 + 0.04 0.32 0.04 0.10 0.09 0.10 + 0.01 0.14 0.06 0.93 0.81 0.82 - 0.07 1.54 0.44 0.71 0.64 0.65 - 0.07 1.24 0.09 0.48 0.40 0.45 - 0.02 1.70 0.40 1.38 0.00 1.35 - 0.04 2.23 0.68 1.73 1.51 1.63 - 0.14 3.45 0.90 0.02 0.02 0.02 - 0.01 0.16 0.01 3.92 3.41 3.50 - 0.11 4.10 0.00 4.92 4.26 4.43 - 0.09 5.47 1.86 0.38 0.31 0.33 - 0.03 0.78 0.22 0.30 0.25 0.27 - 0.02 0.58 0.18 0.39 0.34 0.34 - 0.02 0.45 0.24 0.28 0.28 0.28 - 0.02 0.34 0.17 0.07 0.06 0.07 + 0.01 0.10 0.03 0.27 0.24 0.25 - 0.01 0.41 0.04 0.19 0.00 0.19 - 0.04 0.30 0.04 0.28 0.19 0.20 - 0.10 0.38 0.06 0.36 0.29 0.30 - 0.08 0.58 0.25 0.51 0.42 0.47 + 0.04 1.04 0.33 0.64 0.52 0.58 + 0.04 1.38 0.41 0.59 0.58 0.58 - 0.01 0.95 0.04 0.14 0.12 0.14 + 0.01 0.30 0.11 0.10 0.10 0.10 + 0.00 0.21 0.08 0.05 0.04 0.04 - 0.01 0.09 0.02 1.40 0.00 1.19 + 0.21 1.40 0.21 0.65 0.00 0.65 + 0.02 1.06 0.53 0.00 0.00 0.00 - 0.00 0.00 0.00 1.22 0.93 1.20 + 0.26 1.10 0.12 0.29 0.25 0.26 - 0.03 1.00 0.23 0.23 0.20 0.20 - 0.02 1.45 0.18 3.03 0.00 3.01 + 0.01 4.40 2.80 0.02 0.01 0.02 + 0.01 0.02 0.01 0.25 0.21 0.24 - 0.01 0.34 0.07 0.31 0.28 0.29 - 0.01 0.41 0.09 0.17 0.11 0.17 + 0.01 0.17 0.08 0.14 0.09 0.11 - 0.01 0.14 0.06 0.14 0.08 0.09 - 0.02 0.19 0.02 0.10 0.08 0.09 - 0.01 0.19 0.08 0.04 0.03 0.04 - 0.01 0.14 0.03 0.28 0.26 0.28 - 0.01 0.43 0.24 0.42 0.32 0.36 + 0.01 0.65 0.25 0.07 0.07 0.07 - 0.01 0.15 0.05 4.46 4.14 4.16 - 0.27 4.91 2.88 5.57 5.23 5.23 - 0.32 6.29 3.87 16.99 16.23 16.41 - 0.01 18.57 6.33 13.54 12.89 13.00 - 0.19 15.19 4.84 4.55 4.07 4.07 - 0.48 7.98 1.00 4.85 3.99 4.06 - 0.72 7.95 3.57 0.39 0.32 0.32 - 0.07 0.60 0.14

I-J-K

10-12_OCT30_StockTables.indd 11

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Klondike Gold* O 518 Klondike Silv V 720 Klondike Silv* O 90 V 462 Kombat Copper Kootenay Silvr V 437 Kootenay Silvr* O 36 Kootenay Zinc* O 76 KWG Res* O 147

0.32 0.25 0.26 - 0.05 0.49 0.10 0.05 0.04 0.04 - 0.02 0.12 0.04 0.04 0.03 0.04 - 0.00 0.09 0.03 0.47 0.40 0.40 - 0.05 0.70 0.21 0.23 0.21 0.22 - 0.01 0.48 0.18 0.18 0.17 0.17 - 0.01 0.35 0.14 0.06 0.04 0.05 - 0.01 0.59 0.01 0.02 0.02 0.02 + 0.00 0.02 0.00

Labrador Iron T 858 Lake Victoria* O 740 Lamelee Iron V 34 Lara Expl V 109 Laramide Res T 517 Largo Res* O 20 Largo Res T 315 Laurion Mnl Ex* O 201 Laurion Mnl Ex V 219 Leading Edge* O 188 Leading Edge V 166 Leagold Mg T 723 Leagold Mg* O 56 Leeta Gold V 12523 Legend Gold V 83 Levon Res Ltd * O 46 Levon Res Ltd T 209 Li3 Energy* O 1802 Libero Mining* O 5 Liberty Gold* O 122 Liberty One Li* O 14314 Liberty One Li V 9825 Liberty Silver 280 LiCo Energy* O 2745 LiCo Energy V 2951 Lion One Mtls V 104 Lion One Mtls* O 36 Lions Gate Mtl 366 O 12 Lithion Energy* Lithium Amer T 12900 Lithium Amer* O 3776 Lithium Corp* O 2594 Lithium Energi* O 8 Lithium Energi V 851 Lithium Expl* O 371193 Lithium X Egy* O 1259 Lithium X Egy V 1670 LKA Gold* O 10 Lomiko Mtls* O 45 Lomiko Mtls V 254 Loncor Res T 56 Lone Star Gold* O 320 Lonmin plc* O 49 Lorraine Coppr* O 77 Lorraine Coppr V 343 Los Andes Copp V 367 Lucara Diam T 695 Lucky Mnls * O 149 Lucky Mnls V 1566 Lumina Gold V 471 Lumina Gold* O 22 Lundin Gold T 118 Lundin Mng T 14799 Lupaka Gold V 108 Lydian Intl* O 78 Lydian Intl T 376 Lynas Corp* O 926

21.27 20.28 20.77 - 0.12 21.58 13.42 0.00 0.00 0.00 - 0.00 0.01 0.00 0.22 0.20 0.20 - 0.02 0.34 0.14 0.54 0.51 0.51 - 0.01 1.44 0.50 0.26 0.24 0.25 + 0.01 0.74 0.18 0.75 0.67 0.69 + 0.02 1.08 0.26 0.93 0.82 0.88 + 0.06 1.35 0.34 0.02 0.01 0.02 + 0.01 0.05 0.01 0.02 0.02 0.02 - 0.01 0.08 0.02 0.54 0.50 0.51 - 0.03 0.71 0.30 0.67 0.63 0.64 - 0.03 0.93 0.41 3.45 3.15 3.16 - 0.09 3.48 2.27 2.73 2.50 2.56 - 0.01 2.80 1.76 3.20 2.78 3.01 + 0.28 3.20 0.09 0.35 0.33 0.35 + 0.03 0.40 0.10 0.31 0.29 0.29 - 0.02 0.39 0.18 0.38 0.35 0.36 - 0.01 0.51 0.25 0.03 0.02 0.03 - 0.00 0.06 0.01 0.07 0.07 0.07 + 0.00 0.15 0.05 0.40 0.38 0.38 - 0.00 0.52 0.27 0.98 0.66 0.97 + 0.28 0.80 0.37 1.25 0.83 1.25 + 0.41 1.25 0.17 2.15 1.49 1.78 - 0.19 3.00 0.90 0.07 0.06 0.07 - 0.00 0.20 0.06 0.09 0.08 0.09 + 0.01 0.24 0.08 0.57 0.50 0.55 + 0.06 0.96 0.45 0.47 0.40 0.44 + 0.06 0.72 0.36 0.24 0.20 0.23 + 0.04 0.35 0.10 0.08 0.08 0.08 - 0.01 0.12 0.08 2.04 1.65 2.02 + 0.36 1.99 0.52 1.62 1.31 1.59 + 0.25 1.62 0.38 0.10 0.08 0.09 + 0.01 0.11 0.05 0.16 0.15 0.15 - 0.01 0.17 0.07 0.22 0.18 0.22 + 0.04 0.55 0.07 0.00 0.00 0.00 - 0.00 0.01 0.00 1.59 1.50 1.57 + 0.03 1.87 1.03 1.97 1.90 1.97 + 0.03 2.37 1.40 0.23 0.23 0.23 - 0.00 0.68 0.20 0.15 0.12 0.12 - 0.03 0.32 0.08 0.19 0.15 0.16 - 0.02 0.35 0.15 0.10 0.09 0.09 - 0.01 0.20 0.09 0.00 0.00 0.00 - 0.00 0.01 0.00 1.18 1.08 1.13 + 0.07 2.85 0.81 0.10 0.08 0.08 - 0.02 0.10 0.00 0.11 0.10 0.11 - 0.01 0.12 0.06 0.40 0.35 0.38 - 0.03 0.47 0.15 2.42 2.30 2.32 - 0.09 4.21 2.28 0.18 0.14 0.15 - 0.00 0.18 0.03 0.23 0.17 0.19 + 0.02 0.23 0.08 0.64 0.60 0.64 + 0.04 1.20 0.60 0.50 0.48 0.50 + 0.03 0.89 0.48 5.42 5.06 5.20 - 0.03 6.50 4.59 10.13 9.59 9.97 + 0.26 10.13 5.02 0.15 0.14 0.15 - 0.01 0.25 0.13 0.29 0.27 0.29 + 0.01 0.34 0.22 0.36 0.35 0.36 + 0.01 0.44 0.28 0.18 0.16 0.17 - 0.00 0.18 0.04

M Macarthur Mnl V 5231 0.11 0.09 0.10 + 0.01 0.16 0.05 Macarthur Mnl* O 144 0.09 0.07 0.08 + 0.00 0.12 0.03 MacDonald Mns* O 77 0.10 0.00 0.09 - 0.00 0.20 0.04 V 699 0.13 0.10 0.10 - 0.02 0.28 0.05 MacDonald Mns MacMillan Mnls V 26 1.78 1.65 1.70 + 0.04 1.84 0.90 MAG Silver T 659 14.61 13.63 14.15 - 0.38 21.99 12.75 Magellan Gold* O 644 0.06 0.04 0.04 - 0.02 0.28 0.04 0.06 + 0.01 0.09 0.03 Magna Terra V 35 0.06 0.05 Majestic Gold V 2022 0.06 0.06 0.06 + 0.01 0.12 0.05 Majestic Gold* O 2019 0.04 0.04 0.04 - 0.00 0.09 0.04 Makena Res 253 0.21 0.19 0.19 - 0.02 0.23 0.13 Malbex Res V 47 0.35 0.33 0.33 - 0.02 0.43 0.29 Mammoth Res V 145 0.12 0.08 0.11 + 0.02 0.14 0.05 Mandalay Res* O 781 0.33 0.25 0.25 - 0.01 0.79 0.24 Mandalay Res T 1445 0.32 0.31 0.31 - 0.01 1.07 0.31 Manganese X V 1192 0.14 0.12 0.14 + 0.02 0.26 0.08 Manson Creek V 268 0.19 0.12 0.14 - 0.04 0.20 0.02 Marathon Gold* O 216 0.87 0.81 0.83 - 0.03 1.14 0.33 Marathon Gold T 605 1.08 1.05 1.05 - 0.03 1.36 0.43 0.28 + 0.02 0.50 0.18 Margaux Res V 203 0.29 0.24 Margaux Res* O 13 0.22 0.21 0.21 - 0.00 0.27 0.16 Marifil Mines* O 10 0.04 0.02 0.02 - 0.02 0.04 0.02 Marifil Mines V 8 0.04 0.04 0.04 - 0.01 0.13 0.03 0.11 - 0.01 0.24 0.10 Maritime Res V 460 0.11 0.11 Marlin Gold* O 136 0.79 0.65 0.73 + 0.00 0.87 0.33 Marlin Gold V 118 0.99 0.83 0.94 - 0.05 1.15 0.44 216.16 + 11.59 244.32 175.16 MartinMarietta* N 2770 216.49 201.35 Mason Graphite* O 283 2.03 1.82 1.94 - 0.03 2.03 0.83 Mason Graphite V 764 2.48 2.27 2.44 - 0.01 2.52 1.10 Mason Res T 198 0.29 0.24 0.24 - 0.03 0.40 0.13 Mason Res* O 67 0.22 0.18 0.18 + 0.00 0.29 0.10 Matachewan Con V 6 0.32 0.31 0.32 + 0.02 0.35 0.24 O 15 0.03 0.03 0.03 - 0.00 0.06 0.03 Matamec Expl* 0.10 - 0.01 0.18 0.01 Matica Ent 5580 0.11 0.10 Matica Ent* O 79 0.09 0.08 0.09 - 0.00 0.14 0.01 Maverix Mtls* O 15 1.37 1.33 1.34 + 0.02 1.46 0.66 Mawson Res T 33 0.36 0.33 0.33 - 0.04 0.57 0.29 Mawson Res* O 40 0.29 0.26 0.29 + 0.01 0.44 0.23 0.20 + 0.02 0.63 0.14 MaxTech Vent 437 0.22 0.18 MaxTech Vent* O 34 0.16 0.15 0.16 + 0.01 0.46 0.13 Maxwell Res* O 151 0.01 0.01 0.01 - 0.00 0.04 0.00 Maya Gold &Sil V 1734 0.39 0.34 0.35 - 0.04 0.40 0.10 McEwen Mng* N 10415 2.12 1.99 2.02 - 0.09 4.43 1.94 2.55 - 0.07 5.83 2.40 McEwen Mng T 777 2.66 2.51 McLaren Res 673 0.07 0.03 0.05 + 0.01 0.14 0.01 MDN Inc* O 10 0.11 0.11 0.11 - 0.01 0.88 0.09 Meadow Bay Gd* O 301 0.06 0.00 0.05 - 0.01 0.10 0.05 Meadow Bay Gd V 477 0.08 0.00 0.07 - 0.02 0.28 0.06 Mechel* N 5462 5.35 4.94 5.26 + 0.29 6.83 3.60 Medallion Res* O 61 0.13 0.12 0.12 - 0.02 0.14 0.08 Medallion Res V 103 0.16 0.15 0.15 - 0.02 0.28 0.08 Medgold Res V 5 0.18 0.00 0.18 + 0.02 0.25 0.13 O 10895 0.01 0.00 0.00 - 0.00 0.01 0.00 Medinah Mnrls* Mega Uranium* O 830 0.14 0.12 0.12 - 0.00 0.25 0.08 Megastar Dev V 294 0.07 0.06 0.06 - 0.01 0.07 0.03 0.07 - 0.02 0.10 0.02 Melkior Res V 985 0.08 0.06 Meridian Mg V 12 0.74 0.59 0.74 + 0.15 1.54 0.33 Meryllion Res 187 0.03 0.02 0.02 - 0.01 0.04 0.02 Mesa Expl V 36 0.05 0.04 0.04 - 0.01 0.12 0.04 Mesa Expl* O 28 0.03 0.03 0.03 + 0.00 0.08 0.03 MetalCorp V 626 0.04 0.03 0.03 - 0.02 0.06 0.02 Metalex Vent V 163 0.07 0.05 0.06 + 0.01 0.09 0.04 Metalla Rylty* O 226 0.50 0.46 0.46 - 0.03 0.68 0.18 Metalla Rylty 383 0.63 0.58 0.58 - 0.02 0.88 0.23 Metallic Mnrls V 262 0.31 0.27 0.28 - 0.05 0.59 0.22 O 233 0.25 0.21 0.22 - 0.04 0.44 0.19 Metallic Mnrls* Metallis Res V 4897 1.95 1.35 1.45 + 0.10 1.95 0.09 Metalo Manuf 22 0.42 0.27 0.27 - 0.05 1.00 0.26 Metals Creek V 266 0.06 0.06 0.06 - 0.01 0.13 0.06 Metals X* O 13 0.70 0.63 0.70 + 0.07 1.23 0.41 Metanor Res* O 27 0.61 0.57 0.60 + 0.01 0.94 0.54 Metanor Res V 563 0.77 0.70 0.77 + 0.02 1.29 0.45 Mexican Gold* O 88 0.20 0.18 0.18 - 0.01 0.29 0.11 Mexus Gold* O 1249 0.05 0.04 0.04 + 0.00 0.24 0.03 MGX Minerals* O 1565 0.84 0.67 0.81 + 0.15 2.12 0.11 MGX Minerals 4679 1.05 0.84 1.01 + 0.20 2.75 0.14 Micrex Dev V 577 0.03 0.02 0.03 + 0.01 0.03 0.01 Midas Gold* O 441 0.59 0.55 0.58 + 0.00 0.80 0.02 Midas Gold T 520 0.74 0.71 0.73 + 0.01 1.07 0.62 Midnight Sun V 293 0.38 0.30 0.32 + 0.02 0.54 0.10 Midway Gold* O 597 0.01 0.00 0.00 + 0.00 0.01 0.00 Millennial Lit V 3365 2.47 1.87 2.34 + 0.51 2.47 1.20 Millennial Lit* O 846 1.98 1.46 1.86 + 0.39 1.98 0.88 Millrock Res* O 246 0.29 0.26 0.27 - 0.01 0.50 0.23 Millrock Res V 250 0.37 0.33 0.33 - 0.01 0.64 0.31 Minaurum Gold V 406 0.31 0.26 0.27 - 0.01 0.38 0.07 Minco Silver T 84 0.85 0.78 0.80 - 0.05 1.74 0.71 Minco Silver* O 21 0.68 0.61 0.63 - 0.05 1.23 0.60 Minera Alamos * O 49 0.15 0.14 0.14 - 0.01 0.18 0.10 Minera Alamos V 516 0.18 0.17 0.17 - 0.01 0.24 0.12 Minera IRL 106 0.11 0.10 0.11 + 0.01 0.22 0.06 Mineral Hill V 3 0.26 0.00 0.26 + 0.01 0.34 0.17 Mineral Mtn V 370 0.23 0.19 0.21 + 0.01 0.49 0.15 Mineral Mtn* O 179 0.16 0.14 0.16 + 0.01 0.35 0.13 Mineral Res* O 3 13.50 13.50 13.50 - 0.09 13.59 7.00 Mineworx Tech* O 69 0.06 0.05 0.06 + 0.00 0.08 0.05 Mineworx Tech V 637 0.08 0.06 0.06 - 0.02 0.10 0.05 Minnova Corp V 81 0.68 0.66 0.68 - 0.01 0.90 0.55 Miranda Gold V 574 0.06 0.06 0.06 - 0.01 0.11 0.05 Mirasol Res V 74 1.72 1.60 1.62 - 0.05 2.48 1.18 ML Gold* O 6 0.09 0.08 0.09 + 0.01 0.21 0.08 ML Gold Corp V 1719 0.13 0.10 0.13 + 0.03 0.29 0.10

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Monarca Mnrls* O 26 Monarca Mnrls V 80 Monarques Res* O 87 V 405 Monarques Res Moneta Porcpn* O 46 Monitor Vent* O 4 Montan Mg V 601 Monument Mng V 472 Morien Res* O 35 Morien Res V 123 Morumbi Res* O 47 Morumbi Res T 625 Mosaic* N 15646 6 Mount Gibson * O Mountain Boy* O 479 Mountain Prov T 274 D 176 Mountain Prov* Mundoro Cap* O 187 Mundoro Cap V 422 Murchison Min 63 Mustang Mnrls V 1360 Mustang Mnrls* O 526 MX Gold* O 2010 MX Gold V 31627

0.10 0.09 0.10 + 0.00 0.14 0.09 0.12 0.10 0.12 + 0.02 0.28 0.08 0.28 0.00 0.27 - 0.00 0.38 0.18 0.36 0.33 0.36 + 0.02 0.49 0.26 0.16 0.14 0.15 + 0.00 0.22 0.10 0.30 0.00 0.29 - 0.01 0.81 0.00 0.02 0.01 0.02 + 0.01 0.08 0.01 0.08 0.07 0.07 - 0.01 0.14 0.07 0.52 0.49 0.49 - 0.03 0.56 0.27 0.65 0.61 0.62 - 0.04 0.74 0.36 0.62 0.59 0.59 - 0.05 1.26 0.45 0.78 0.70 0.70 - 0.08 1.70 0.43 21.93 20.89 21.41 - 0.37 34.36 19.23 0.33 0.29 0.29 - 0.04 0.42 0.20 0.06 0.05 0.06 + 0.01 0.09 0.03 3.99 3.80 3.87 - 0.06 7.15 3.56 3.20 3.05 3.08 - 0.03 5.45 2.55 0.12 0.11 0.12 + 0.01 0.22 0.10 0.16 0.13 0.16 + 0.01 0.30 0.13 0.23 0.19 0.19 - 0.05 0.30 0.13 0.03 0.02 0.03 + 0.01 0.03 0.01 0.03 0.01 0.03 + 0.01 0.03 0.00 0.17 0.11 0.12 - 0.04 0.20 0.07 0.22 0.14 0.15 - 0.05 0.26 0.10

NA Frac Sand* O 109 NACCO Ind* N 195 Namibia Rare E V 9 Napier Vent* O 209 Napier Vent V 150 Natural Res Pt* N 86 Nautilus Mnrls T 279 Nautilus Mnrls* O 282 Navis Res Corp* O 10 Navis Res Corp 40 Navy Res V 32 Nemaska Lith T 12561 Nemaska Lith* O 1315 Neo Lithium V 4972 Nevada Clean M V 1055 Nevada Clean M* O 425 Nevada Copper T 164 Nevada Egy Mtl* O 156 Nevada Expl * O 219 Nevada Expl V 471 Nevada Sunrise* O 260 Nevada Sunrise V 197 Nevada Zinc V 1153 Nevado Res V 4353 Nevsun Res* X 2755 Nevsun Res T 1651 New Carolin Gd V 9784 New Carolin Gd* O 1577 New Dimen Res V 133 New Gold* X 22282 New Jersey Mng* O 285 New Milln Iron T 359 New Oroperu V 88 New Pac Metals V 436 9 New Pac Metals* O New Stratus V 84 New World Res V 79 NewCastle Gold T 1581 NewCastle Gold* O 61 Newlox Gold 796 Newmont Mng* N 19053 Newport Expl V 107 Newport Gold* O 110 NewRange Gold* O 30 V 305 NewRange Gold Nexgen Energy* X 928 Nexgen Energy T 2390 NextSource Mat T 1848 Nexus Gold V 2026 Nexus Gold* O 386 NGEx Res T 54 NGEx Res* O 59 Nickel North V 522 Nicola Mg Inc V 879 T 534 Nighthawk Gold Nighthawk Gold* O 247 Niobay Metals V 295 Niocorp Dev* O 891 Nippon Dragon* O 126 Noble Mnl Expl* O 211 Noble Mnl Expl V 2557 Noranda Alum* O 35 Noront Res V 391 Norsemont Cap 10 13 North Am Nickl* O North Am Pall T 57 North Am Pall* O 57 North Arrow Mn* O 6 North Arrow Mn V 184 Northn Empire* O 16 Northn Empire V 1181 Norvista Cap V 92 Nouveau Monde* O 36 Nouveau Monde V 1576 NovaGold Res T 673 NovaGold Res* X 7269 Novo Res* O 1436 Novo Res V 3798 NRG Metals* O 5661 NRG Metals V 16082 Nrthn Graphite V 444 Nrthn Mnrls &E* O 95 Nrthn Shield V 2906 Nrthn Vertex* O 77 Nrthn Vertex V 171 NSGold V 101 Nthn Dynasty T 4104 Nthn Dynasty* X 19627 Nthrn Sphere 127 Nubian Res V 73 NuLegacy Gold* O 274 NuLegacy Gold V 170 NV Gold V 33 NV Gold* O 81 NxGold Ltd V 95 OceanaGold* O 24 OceanaGold T 4293 Oceanic Iron O V 58 Oceanus Res* O 14 Oceanus Res V 106 Olivut Res* O 138 Olivut Res V 157 Omineca Mg &Ml V 5 One World Min 181 Opawica Expl V 441 Opus One Res V 55 Orca Gold V 1021 Orca Gold* O 414 Orefinders Res V 686 Orestone Mng V 67 Orex Mnrls* O 57 Orezone Gold V 188 Orezone Gold* O 22 Organic Potash 71 Orla Mng Ltd V 308 Oroco Res* O 132 Oroco Res V 1306 Orocobre T 704 Orofino Mnrls V 56 Oroplata Res* O 134 Orosur Mng T 202 Orsu Metals V 17 Orvana Mnrls* O 22 Orvana Mnrls T 136 Osisko Gold* N 2473 Osisko Gold T 1856 Osisko Metals V 113 Osisko Mng Inc T 2051 Osprey Gold V 600 Otis Gold* O 79 OZ Minerals* O 1

0.01 0.01 0.01 - 0.00 0.09 0.01 40.65 34.96 40.05 + 3.40 99.55 23.80 0.05 0.05 0.05 - 0.01 0.10 0.04 0.41 0.36 0.40 - 0.01 0.44 0.21 0.53 0.45 0.48 - 0.03 0.54 0.24 27.85 25.56 26.50 + 0.75 45.60 22.81 0.21 0.20 0.21 + 0.01 0.28 0.14 0.17 0.16 0.16 + 0.00 0.21 0.10 0.33 0.00 0.33 - 0.14 2.00 0.13 0.41 0.35 0.41 + 0.07 2.50 0.35 0.20 0.17 0.20 + 0.03 0.21 0.09 1.73 1.45 1.61 + 0.18 1.68 0.95 1.37 1.15 1.26 + 0.11 1.37 0.70 2.10 1.60 2.02 + 0.25 2.10 0.85 0.06 0.05 0.06 + 0.01 0.08 0.04 0.05 0.04 0.04 + 0.00 0.08 0.02 0.70 0.65 0.65 + 0.02 0.86 0.41 0.02 0.02 0.02 + 0.00 0.10 0.01 0.33 0.30 0.31 + 0.03 0.45 0.21 0.42 0.38 0.40 + 0.02 0.55 0.27 0.14 0.12 0.12 - 0.02 0.28 0.12 0.18 0.16 0.16 - 0.02 0.36 0.16 0.23 0.18 0.20 - 0.01 0.60 0.18 0.03 0.02 0.03 + 0.01 0.10 0.02 2.50 2.33 2.36 - 0.04 3.52 1.96 3.14 2.91 2.98 - 0.01 4.63 2.49 0.04 0.03 0.03 - 0.01 0.08 0.03 0.03 0.00 0.03 - 0.00 0.06 0.02 0.06 0.04 0.04 - 0.01 0.17 0.04 3.84 3.53 3.65 - 0.04 4.52 2.39 0.13 0.12 0.13 + 0.00 0.17 0.09 0.12 0.11 0.12 - 0.01 0.36 0.08 0.45 0.40 0.42 - 0.04 0.70 0.37 1.41 1.36 1.41 + 0.01 1.59 0.50 1.13 1.10 1.13 + 0.02 1.26 0.40 0.33 0.25 0.25 - 0.08 0.48 0.07 0.14 0.11 0.11 - 0.03 0.16 0.08 0.81 0.71 0.75 - 0.05 1.12 0.52 0.65 0.56 0.58 - 0.07 0.86 0.39 0.07 0.06 0.07 + 0.01 0.07 0.02 38.75 37.55 37.79 - 0.80 39.63 30.19 0.27 0.00 0.27 + 0.04 0.32 0.19 0.05 0.04 0.04 + 0.01 0.07 0.00 0.44 0.40 0.40 - 0.02 0.59 0.07 0.55 0.49 0.50 - 0.05 0.75 0.08 2.31 2.10 2.16 - 0.03 3.40 1.05 2.88 2.65 2.71 - 0.03 4.45 1.42 0.07 0.06 0.07 - 0.01 0.11 0.06 0.08 0.06 0.07 - 0.01 0.37 0.06 0.06 0.05 0.05 - 0.01 0.27 0.05 1.04 0.00 0.95 - 0.10 1.45 0.75 0.82 0.78 0.78 - 0.05 1.05 0.58 0.03 0.02 0.02 - 0.01 0.06 0.02 0.18 0.17 0.17 - 0.01 0.30 0.14 0.73 0.61 0.63 - 0.10 1.15 0.36 0.59 0.49 0.50 - 0.10 0.97 0.26 0.19 0.14 0.17 + 0.03 1.19 0.11 0.44 0.38 0.42 - 0.01 0.81 0.38 0.05 0.04 0.04 - 0.01 0.09 0.03 0.11 0.09 0.11 + 0.00 0.15 0.03 0.16 0.12 0.15 + 0.02 0.19 0.03 0.01 0.01 0.01 - 0.00 0.06 0.01 0.32 0.31 0.31 - 0.01 0.52 0.22 0.44 0.40 0.40 - 0.04 0.45 0.26 0.07 0.00 0.06 - 0.00 0.11 0.04 7.11 6.14 7.10 + 1.00 6.78 4.54 5.68 4.87 5.54 + 0.53 5.68 3.33 0.21 0.19 0.19 + 0.01 0.23 0.13 0.28 0.23 0.26 + 0.03 0.40 0.16 0.77 0.71 0.73 - 0.04 0.78 0.47 1.04 0.86 0.94 - 0.03 1.04 0.33 0.15 0.13 0.15 + 0.02 0.19 0.11 0.33 0.32 0.32 + 0.02 0.33 0.16 0.54 0.38 0.54 + 0.15 0.54 0.21 5.35 5.07 5.20 - 0.06 8.15 4.94 4.27 4.04 4.12 - 0.09 6.21 3.78 6.73 5.13 6.10 - 0.05 7.08 0.49 8.45 6.41 7.70 + 0.05 8.83 0.66 0.45 0.23 0.31 + 0.08 0.45 0.07 0.42 0.29 0.39 + 0.10 0.42 0.09 0.27 0.24 0.27 + 0.01 0.40 0.18 0.05 0.04 0.04 - 0.01 0.05 0.01 0.05 0.03 0.04 - 0.01 0.18 0.03 0.48 0.42 0.42 - 0.04 0.57 0.27 0.59 0.51 0.51 - 0.08 0.70 0.35 0.15 0.10 0.10 - 0.05 0.20 0.06 2.72 2.42 2.59 - 0.05 4.54 0.88 2.18 1.93 2.05 - 0.07 3.45 0.68 0.11 0.09 0.10 + 0.01 0.85 0.09 0.27 0.24 0.26 + 0.02 0.38 0.10 0.18 0.16 0.17 - 0.01 0.34 0.00 0.22 0.20 0.21 - 0.01 0.45 0.16 0.39 0.36 0.39 + 0.03 0.48 0.17 0.35 0.29 0.31 + 0.02 0.39 0.13 0.23 0.22 0.22 - 0.05 0.72 0.16 3.11 2.80 2.80 - 0.23 3.60 2.36 3.85 3.53 3.59 - 0.23 5.00 3.24 0.10 0.10 0.10 + 0.01 0.35 0.06 0.24 0.23 0.23 - 0.01 0.29 0.11 0.30 0.28 0.28 - 0.01 0.36 0.14 0.09 0.06 0.07 - 0.01 0.17 0.06 0.11 0.00 0.09 - 0.02 0.22 0.08 0.03 0.03 0.03 - 0.01 0.07 0.03 0.22 0.18 0.20 - 0.02 0.75 0.16 0.03 0.03 0.03 + 0.01 0.15 0.02 0.12 0.09 0.09 - 0.02 0.16 0.08 0.68 0.58 0.58 - 0.09 0.74 0.31 0.54 0.46 0.48 - 0.04 0.56 0.20 0.07 0.06 0.07 + 0.01 0.11 0.04 0.09 0.08 0.08 - 0.01 0.13 0.05 0.10 0.09 0.10 + 0.00 0.61 0.08 0.66 0.61 0.62 - 0.03 0.85 0.42 0.51 0.49 0.49 - 0.04 0.63 0.31 0.02 0.01 0.01 - 0.01 0.05 0.01 1.45 1.35 1.36 - 0.02 1.52 1.04 0.07 0.05 0.05 - 0.01 0.07 0.01 0.08 0.06 0.06 - 0.01 0.09 0.02 5.03 4.71 4.79 - 0.16 5.04 2.73 0.09 0.08 0.08 + 0.02 0.15 0.06 0.12 0.11 0.12 + 0.01 0.42 0.10 0.27 0.23 0.24 - 0.04 0.35 0.19 0.20 0.00 0.20 + 0.02 0.45 0.13 0.21 0.19 0.20 + 0.00 0.25 0.14 0.26 0.24 0.24 - 0.02 0.33 0.18 13.27 12.61 12.69 - 0.57 14.39 8.88 16.62 15.85 16.03 - 0.52 17.58 11.90 1.26 1.15 1.19 - 0.06 1.74 0.21 4.54 3.99 4.01 - 0.46 5.65 2.08 0.18 0.16 0.18 + 0.01 0.44 0.05 0.24 0.22 0.22 - 0.01 0.29 0.15 6.73 0.00 6.73 + 0.59 7.39 4.40

N-O

P-Q Pac Bay Mnrls V 23 Pac Booker Min* O 11 Pac Booker Min V 26 Pac North West* O 534 Pac Ridge Expl V 205 Pac Ridge Expl* O 3 Pac Topaz V 465 Pacton Gold V 710 Paladin Energy* O 281 Palamina Corp* O 55 Pan Am Silver* D 5291 Pan Am Silver T 536

0.03 0.00 0.03 - 0.01 0.07 0.03 0.99 0.00 0.99 + 0.00 0.99 0.35 1.23 0.94 1.23 + 0.28 1.44 0.42 0.05 0.05 0.05 + 0.00 0.10 0.04 0.06 0.05 0.05 - 0.01 0.12 0.05 0.04 0.04 0.04 + 0.00 0.09 0.03 0.14 0.12 0.12 + 0.01 0.23 0.10 0.09 0.08 0.08 - 0.02 0.16 0.04 0.03 0.01 0.02 - 0.00 0.13 0.00 0.13 0.13 0.13 + 0.01 0.19 0.10 17.25 16.70 16.96 - 0.24 21.29 13.80 21.60 20.88 21.40 - 0.05 27.99 18.70

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Pan Global Res V 811 Pancontinental V 8 Panex Res* O 3 Panoro Mnrls V 2486 Pantheon Vent V 979 Parallel Mng V 418 Paramount Gold* X 630 Parana Copper 18 Parlane Res V 148 Pasinex Res 98 Patriot Gold* O 200 Patriot Gold 40 Peabody Enrgy* N 5042 Pelangio Expl* O 5 Pelangio Expl V 477 Peloton Mnrls 114 Peloton Mnrls* O 3 Peregrine Diam T 740 Perseus Mng T 463 Pershing Gold* D 300 5 Pershing Gold T Pine Cliff En* O 47 Pine Cliff En T 1741 Pinecrest Res V 79 Pinecrest Res * O 11 Pistol Bay Mng V 1065 PJSC Polyus Gd* O 4 V 14 PJX Res Plate Res V 10 Plateau Uran* O 144 Platinex Inc 932 Platinum Gp Mt* X 5700 Platinum Gp Mt T 641 Playfair Mng* O 139 Polaris Mater T 565 PolyMet Mng* X 615 PolyMet Mng T 66 Portage Res* O 475 Portofino Res V 6122 Potash Corp SK* N 12243 Potash Corp SK T 4056 Potash Ridge* O 9 Power Metals* O 16 Power Metals V 1623 PPX Mining V 210 PPX Mining* O 270 Precipitate Gl V 150 Premier Gold M T 1656 Premium Expl* O 9 Pretium Res* N 11897 Pretium Res T 3481 Primero Mng T 1924 Primero Mng* O 1263 Prism Res V 36 Prize Mng* O 57 Prize Mng V 1060 Probe Metals V 587 Probe Metals* O 542 Prophecy Coal T 38 Prophecy Coal* O 9 Prospect Glob* O 27 Prosper Gold V 1005 Prospero Silvr V 284 Prospero Silvr* O 175 Provenance Gld 152 Providence V 316 PUF Vent Inc 1515 PUF Vent Inc * O 210 Puma Expl V 2379 Pure Energy* O 1273 Pure Energy V 1013 Pure Gold Mg V 898 157 Pure Gold Mg* O Pure Nickel* O 42 QMC Quantum Ml* O 4394 QMC Quantum Ml V 6699 QMX Gold* O 24 QMX Gold V 327 Quaterra Res* O 700 Quaterra Res V 129 Quest Rare Mnl* O 109 Quinto Res V 321

0.19 0.15 0.15 - 0.01 0.19 0.05 0.04 0.04 0.04 - 0.01 0.16 0.03 0.00 0.00 0.00 + 0.00 0.01 0.00 0.46 0.40 0.46 + 0.03 0.46 0.15 0.14 0.11 0.11 - 0.03 0.38 0.08 0.09 0.08 0.09 + 0.02 0.16 0.06 1.36 1.20 1.26 - 0.04 2.10 1.20 0.11 0.10 0.10 - 0.01 0.15 0.03 0.12 0.11 0.11 - 0.01 0.33 0.10 0.30 0.27 0.28 - 0.03 0.34 0.10 0.11 0.09 0.10 + 0.00 0.14 0.07 0.13 0.12 0.13 + 0.01 0.15 0.10 30.06 28.46 29.96 + 1.57 32.50 22.58 0.03 0.03 0.03 - 0.00 0.05 0.02 0.05 0.04 0.05 + 0.01 0.06 0.04 0.09 0.08 0.09 - 0.01 0.13 0.05 0.08 0.08 0.08 - 0.00 0.10 0.04 0.14 0.13 0.13 - 0.01 0.26 0.11 0.36 0.32 0.33 - 0.03 0.66 0.27 3.05 2.88 2.90 - 0.15 4.45 2.60 3.81 0.00 3.71 - 0.16 5.52 3.44 0.46 0.41 0.42 - 0.02 0.89 0.41 0.58 0.50 0.52 - 0.03 1.22 0.50 0.32 0.30 0.30 - 0.03 0.56 0.16 0.25 0.24 0.24 - 0.01 1.36 0.24 0.05 0.04 0.04 - 0.01 0.12 0.04 50.23 40.30 50.23 + 10.23 50.23 31.83 0.15 0.13 0.13 + 0.01 0.27 0.11 0.04 0.04 0.04 - 0.01 0.09 0.04 0.24 0.21 0.22 - 0.02 0.54 0.12 0.09 0.00 0.06 - 0.02 0.23 0.05 0.54 0.42 0.46 + 0.04 2.45 0.35 0.67 0.53 0.58 + 0.05 3.19 0.43 0.06 0.04 0.05 - 0.01 0.12 0.03 3.39 3.36 3.39 + 0.02 3.74 0.90 0.63 0.58 0.60 + 0.00 0.97 0.57 0.80 0.72 0.75 + 0.01 1.27 0.71 0.00 0.00 0.00 - 0.00 0.00 0.00 0.07 0.05 0.05 + 0.01 0.10 0.04 19.47 19.01 19.27 - 0.05 20.27 15.74 24.36 23.75 24.31 + 0.16 26.62 20.68 0.09 0.08 0.09 + 0.01 0.27 0.08 0.29 0.29 0.29 - 0.02 0.38 0.07 0.40 0.36 0.37 - 0.03 0.55 0.07 0.09 0.07 0.08 + 0.02 0.13 0.05 0.06 0.05 0.05 - 0.00 0.09 0.04 0.12 0.10 0.10 - 0.02 0.23 0.10 3.73 3.41 3.51 - 0.22 4.13 1.87 0.01 0.00 0.01 + 0.01 0.03 0.00 12.00 11.03 11.12 - 0.89 12.53 6.82 15.03 13.88 14.05 - 0.93 16.48 9.17 0.09 0.08 0.09 - 0.01 2.22 0.08 0.07 0.06 0.07 - 0.00 1.64 0.06 0.19 0.16 0.16 - 0.03 0.25 0.16 0.32 0.29 0.30 + 0.01 0.52 0.21 0.42 0.36 0.39 + 0.02 0.72 0.25 1.56 1.40 1.53 - 0.02 1.74 0.99 1.25 1.11 1.22 - 0.01 1.42 0.75 5.00 4.65 4.76 - 0.09 7.19 2.75 4.00 3.72 3.78 + 0.06 5.17 2.21 0.06 0.04 0.04 - 0.01 0.09 0.02 0.10 0.08 0.10 + 0.03 0.30 0.08 0.22 0.17 0.20 - 0.02 0.38 0.17 0.17 0.13 0.13 - 0.05 0.26 0.13 0.40 0.15 0.25 + 0.10 0.40 0.08 0.17 0.14 0.17 + 0.02 0.27 0.07 0.52 0.47 0.49 - 0.04 0.65 0.20 0.42 0.37 0.39 - 0.01 0.56 0.15 0.09 0.08 0.09 + 0.01 0.10 0.05 0.39 0.35 0.37 - 0.01 0.57 0.35 0.49 0.44 0.46 - 0.01 0.75 0.44 0.60 0.51 0.51 - 0.07 0.72 0.40 0.47 0.40 0.42 + 0.02 0.55 0.29 0.02 0.01 0.01 - 0.00 0.03 0.00 0.34 0.22 0.29 + 0.07 0.34 0.02 0.42 0.28 0.36 + 0.08 0.42 0.04 0.22 0.19 0.19 - 0.03 0.29 0.05 0.26 0.24 0.25 - 0.03 0.40 0.08 0.07 0.06 0.07 - 0.01 0.13 0.03 0.09 0.08 0.08 - 0.01 0.15 0.06 0.02 0.00 0.00 - 0.01 0.23 0.00 0.06 0.05 0.06 + 0.01 0.18 0.05

R Rackla Mtls* O 1 0.12 0.00 0.12 + 0.03 0.12 0.05 Rackla Mtls V 22 0.14 0.00 0.14 + 0.03 0.19 0.08 Radisson Mng V 898 0.15 0.15 0.15 + 0.01 0.20 0.12 Rae-Wallace Mg* O 200 0.01 0.00 0.00 - 0.00 0.03 0.00 Rainy Mtn Royl V 144 0.06 0.06 0.06 - 0.01 0.18 0.06 Rambler Ml &Mg V 69 0.16 0.00 0.16 + 0.01 0.22 0.10 Randgold Res* D 1783 100.43 96.47 97.58 - 2.86 108.29 67.54 Rapier Gold V 324 0.07 0.00 0.07 + 0.01 0.17 0.06 0.30 - 0.02 0.53 0.00 Rare Element* O 415 0.35 0.28 Rathdowney Res V 64 0.18 0.16 0.18 + 0.02 0.33 0.13 Ravencrest Res 525 0.98 0.65 0.96 + 0.29 0.98 0.01 Red Eagle Expl V 51 0.11 0.10 0.10 - 0.02 0.30 0.09 Red Eagle Mng T 1710 0.30 0.26 0.30 + 0.04 1.05 0.23 Red Eagle Mng* O 215 0.23 0.21 0.23 + 0.02 0.79 0.17 Red Moon Res V 137 0.08 0.06 0.08 + 0.03 0.08 0.03 Red Pine Expl V 1126 0.12 0.10 0.11 - 0.01 0.17 0.08 Redhawk Res T 105 0.03 0.02 0.02 - 0.01 0.08 0.02 Redstar Gold* O 625 0.07 0.05 0.06 - 0.00 0.15 0.05 Regency Gold V 1 0.12 0.00 0.12 + 0.02 0.38 0.10 Regulus Res V 151 2.05 1.86 1.91 - 0.14 3.00 1.05 Remington Res V 408 0.06 0.05 0.05 - 0.01 0.18 0.05 Renaissance Gd* O 43 0.28 0.00 0.27 - 0.03 0.39 0.20 Renaissance Gd V 67 0.36 0.34 0.34 - 0.02 0.51 0.25 Renforth Res 1132 0.06 0.05 0.06 + 0.01 0.09 0.03 Resource Cap V 457 0.15 0.12 0.13 - 0.01 0.35 0.12 0.13 + 0.01 0.17 0.03 Reunion Gold V 308 0.13 0.11 Revelo Res V 989 0.04 0.04 0.04 - 0.01 0.12 0.04 Revival Gold V 40 0.77 0.68 0.77 + 0.03 0.86 0.08 Rhyolite Res V 375 0.24 0.20 0.24 + 0.04 0.30 0.11 Richmond Mnls V 582 0.10 0.05 0.05 - 0.05 0.18 0.03 T 2122 12.41 11.79 12.35 + 0.20 13.38 7.36 Richmont Mines Rift Valley 175 0.11 0.08 0.10 - 0.02 0.15 0.03 Rimrock Gold* O 338128 0.00 0.00 0.00 - 0.00 0.00 0.00 31 0.10 0.10 0.10 - 0.01 0.23 0.09 Rio Novo Gold T Rio Silver V 89 0.05 0.04 0.04 - 0.01 0.16 0.04 Rio Tinto* N 13909 50.77 47.64 48.37 - 1.64 50.77 32.47 Rio Tinto* O 27 49.90 48.10 48.10 + 1.10 49.90 32.10 637 0.18 0.14 0.15 - 0.02 0.40 0.09 Rise Gold Corp River Wild Exp 27 0.10 0.05 0.10 + 0.06 0.10 0.01 Riverside Res* O 149 0.25 0.23 0.24 - 0.01 0.46 0.23 Riverside Res V 525 0.31 0.29 0.31 - 0.01 0.60 0.29 RJK Explor V 148 0.09 0.08 0.08 - 0.01 0.25 0.08 Robex Res V 245 0.11 0.10 0.11 + 0.01 0.14 0.06 V 99 0.04 0.04 0.04 - 0.01 0.08 0.03 Rochester Res Rock Tech Lith* O 7 1.13 1.12 1.12 - 0.05 1.17 0.59 Rock Tech Lith V 157 1.64 1.30 1.64 + 0.27 2.10 0.75 Rockcliff Cop V 823 0.12 0.09 0.11 + 0.02 0.14 0.06 Rockcliff Cop* O 6 0.10 0.07 0.10 + 0.03 0.11 0.05 Rockhaven Res V 936 0.16 0.13 0.14 - 0.01 0.22 0.12 Rockshield Cap 237 0.19 0.16 0.19 + 0.03 0.22 0.05 Rockwealth Res V 34 0.21 0.00 0.18 - 0.06 0.30 0.15 Rodinia Lithm V 19 0.10 0.00 0.10 + 0.01 0.14 0.08 Rogue Res V 63 0.21 0.19 0.19 - 0.01 0.74 0.19 Rokmaster Res V 855 0.06 0.04 0.04 - 0.02 0.08 0.02 Romios Gold Rs* O 80 0.07 0.05 0.06 + 0.00 0.08 0.03 RosCan Mrnls V 16 0.07 0.06 0.06 - 0.01 0.12 0.02 Rosita Mg Corp V 818 0.03 0.02 0.02 - 0.01 0.07 0.02 Roxgold T 1328 1.21 1.06 1.12 - 0.05 1.67 1.04 Roxgold* O 361 0.96 0.85 0.86 - 0.09 1.27 0.78 Royal Gold* D 1630 88.69 86.35 86.74 - 1.48 94.39 60.21 Royal Nickel T 2440 0.20 0.18 0.19 + 0.01 0.40 0.17 Royal Nickel* O 91 0.16 0.13 0.15 + 0.01 0.30 0.12 Royal Rd Mnrls V 309 0.10 0.09 0.09 - 0.01 0.15 0.06 RT Minerals* O 30 0.05 0.05 0.05 + 0.01 0.14 0.04 RT Minerals V 840 0.07 0.05 0.05 - 0.01 0.22 0.05 O 4 1.25 0.00 1.18 - 0.06 1.48 1.00 Rubicon Mnrls* Rubicon Mnrls T 289 1.60 1.45 1.50 - 0.05 2.39 1.30 Rugby Mng V 227 0.47 0.37 0.37 - 0.11 0.50 0.23 Rupert Res V 104 1.00 0.97 0.99 - 0.01 1.47 0.60 Rusoro Mng* O 293 0.10 0.08 0.08 - 0.01 0.21 0.06 Rye Patch Gold V 3801 0.24 0.19 0.23 + 0.02 0.37 0.18 Rye Patch Gold* O 303 0.18 0.15 0.18 + 0.01 0.27 0.14

S Sabina Gd&Slvr T 1623 Sabina Gd&Slvr* O 676 Sable Res V 857 Sage Gold* O 28 Sage Gold V 1545 Saint Jean V 649 Saint Jean* O 71 Salazar Res* O 60 Sama Res* O 77 Sama Res V 3067 Samex Mng* O 82 60 San Marco Res* O Sanatana Diam V 231

2.48 2.27 2.44 + 0.09 2.70 0.84 1.99 1.80 1.93 + 0.06 2.17 0.61 0.15 0.13 0.14 - 0.02 0.20 0.09 0.15 0.15 0.15 - 0.00 0.20 0.08 0.19 0.16 0.18 - 0.01 0.27 0.11 0.04 0.04 0.04 - 0.01 0.35 0.03 0.04 0.02 0.04 - 0.00 0.26 0.02 0.10 0.09 0.10 - 0.00 0.14 0.06 0.24 0.18 0.24 + 0.05 0.22 0.05 0.31 0.21 0.28 + 0.05 0.31 0.07 0.00 0.00 0.00 - 0.00 0.01 0.00 0.16 0.13 0.16 + 0.01 0.20 0.10 0.04 0.04 0.04 - 0.01 0.07 0.01

2017-10-24 5:32 PM

WWW.NORTHERNMINER.COM

OCTOBER 30–NOVEMBER 12, 2017 / 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

Sandspring Res* O 201 Sandstorm Gold T 980 Sandstorm Gold* X 5202 123 Santa Fe Gold* O Santacruz Silv V 419 Sarama Res V 1145 Sarissa Res* O 1756 Satori Res V 573 Savary Gold V 883 Savary Gold* O 41 Saville Res V 3 Scandium Intl* O 143 Scandium Intl T 794 ScoZinc Mg V 18 Seabridge Gld T 242 Seabridge Gld* N 2022 Search Mnls V 117 Searchlight* O 258 Secova Mtls* O 95 Sego Res V 375 Select Sands V 916 Semafo T 2552 O 10 Senator Mnrls* Senator Mnrls V 2443 Sennen Potash V 52 Serabi Gold T 384 Serengeti Res V 353 Shamrock Ent 663 Sherritt Intl T 5197 Sibanye Gold* N 14638 Sibanye Gold* O 1 Sidney Resrces* O 104 Sienna Res V 645 Sienna Res* O 25 Sierra Metals* X 64 Sierra Metals T 51 Signature Res* O 69 Signature Res V 243 295 Silver Bear Rs T Silver Bear Rs* O 17 Silver Bull Re* O 655 Silver Bull Re T 626 Silver Dragon* O 267 Silver Predatr* O 4 Silver Pursuit V 4 Silver Range V 350 Silver Spruce* O 0 Silver Wheaton T 3464 N 10107 Silver Wheaton* Silvercorp Met T 1114 Silvercorp Met* X 1535 SilverCrest Mt* O 271 SilverCrest Mt V 295 Sirios Res V 352 Sirios Res* O 82 Skeena Res* O 41 Skeena Res V 1544 Skyharbour Res* O 46 V 73 Skyharbour Res Slam Explor* O 3 Slam Explor V 67 Sojourn Explor V 37 Sokoman Iron V 365 SolGold plc* O 545 SolGold plc T 241 Solitario Ex&R T 48 Solitario Ex&R* X 152 Southern Arc* O 13 Southern Arc V 62 Southern Copp* N 4603 Southern Lith V 3856 Southern Silvr* O 197 Southern Silvr V 279 Spanish Mtn Gd V 617 Spanish Mtn Gd* O 800 Sparton Res V 11701 Sparton Res* O 48 Spearmint Res* O 246 V 1045 Spearmint Res SRG Graphite V 870 SSR Mining* D 5829 SSR Mining T 940 515 St Elias Mns* O St-Georges Plt* O 40 Stakeholdr Gld V 15 Stakeholdr Gld* O 20 Standard Lith V 1673

0.28 0.26 0.27 + 0.00 0.51 0.23 5.82 5.43 5.57 - 0.20 6.87 4.29 4.65 4.29 4.40 - 0.23 5.18 3.18 0.10 0.09 0.10 - 0.00 0.23 0.03 0.17 0.15 0.16 + 0.01 0.46 0.15 0.13 0.11 0.11 - 0.02 0.29 0.11 0.01 0.01 0.01 + 0.00 0.01 0.00 0.12 0.09 0.11 - 0.02 0.30 0.09 0.07 0.05 0.06 - 0.01 0.12 0.05 0.05 0.04 0.04 - 0.00 0.09 0.04 0.14 0.14 0.14 - 0.02 0.40 0.08 0.28 0.25 0.25 - 0.02 0.35 0.10 0.35 0.32 0.33 - 0.02 0.48 0.14 1.43 1.10 1.20 - 0.20 1.75 0.76 16.80 15.75 16.33 - 0.37 17.11 9.99 13.45 12.51 12.90 - 0.50 13.50 7.35 0.05 0.04 0.05 + 0.01 0.10 0.04 0.04 0.03 0.03 - 0.01 0.13 0.01 0.04 0.03 0.03 - 0.00 0.09 0.03 0.05 0.04 0.05 + 0.01 0.08 0.02 0.50 0.41 0.49 + 0.04 2.04 0.41 3.43 3.25 3.35 - 0.06 5.85 2.68 1.08 0.88 0.88 - 0.39 1.57 0.43 1.50 1.04 1.15 - 0.44 1.99 0.47 0.50 0.00 0.50 - 0.02 1.10 0.45 0.08 0.00 0.05 - 0.03 0.10 0.05 0.20 0.17 0.20 - 0.02 0.26 0.11 0.05 0.04 0.04 - 0.01 0.06 0.02 1.47 1.25 1.46 + 0.23 1.67 0.74 4.93 4.72 4.85 + 0.07 12.27 4.27 1.20 0.00 1.20 + 0.04 2.78 1.14 0.01 0.01 0.01 - 0.00 0.02 0.00 0.14 0.13 0.14 + 0.01 0.17 0.09 0.10 0.10 0.10 + 0.00 0.13 0.07 2.58 2.43 2.47 - 0.07 3.10 1.29 3.19 3.05 3.13 - 0.05 3.75 1.74 0.08 0.07 0.08 + 0.00 0.10 0.07 0.11 0.08 0.09 - 0.02 0.19 0.07 0.16 0.14 0.16 + 0.01 0.49 0.14 0.12 0.12 0.12 - 0.00 0.38 0.08 0.12 0.09 0.10 - 0.01 0.16 0.06 0.15 0.11 0.13 - 0.02 0.21 0.08 0.01 0.01 0.01 - 0.00 0.03 0.01 0.03 0.03 0.03 + 0.01 0.06 0.02 0.17 0.00 0.17 - 0.01 0.23 0.09 0.15 0.12 0.15 - 0.01 0.29 0.08 0.03 0.03 0.03 - 0.01 0.08 0.04 26.42 24.77 26.39 + 0.99 33.83 22.63 20.92 19.75 20.91 + 0.59 25.27 16.94 3.47 3.13 3.28 - 0.15 5.90 2.82 2.77 2.48 2.59 - 0.18 4.50 2.07 1.14 0.97 0.97 - 0.14 2.15 0.97 1.40 1.21 1.21 - 0.16 2.88 1.21 0.39 0.34 0.36 - 0.02 0.62 0.25 0.31 0.28 0.29 - 0.04 0.45 0.21 0.05 0.05 0.05 - 0.41 0.98 0.27 0.59 0.00 0.58 + 0.08 1.25 0.40 0.32 0.29 0.30 - 0.03 0.54 0.18 0.40 0.37 0.38 - 0.02 0.70 0.25 0.04 0.00 0.02 - 0.02 0.04 0.02 0.05 0.00 0.04 - 0.01 0.11 0.03 0.18 0.17 0.17 - 0.01 0.30 0.09 0.03 0.03 0.03 - 0.01 0.13 0.03 0.42 0.38 0.38 - 0.03 0.63 0.27 0.54 0.46 0.46 - 0.07 0.95 0.49 0.88 0.84 0.85 - 0.02 1.21 0.76 0.71 0.67 0.68 - 0.01 0.91 0.58 0.61 0.58 0.61 - 0.02 0.65 0.30 0.74 0.73 0.73 - 0.02 0.90 0.38 44.15 42.71 43.13 - 0.03 44.15 26.52 0.07 0.05 0.05 - 0.02 0.49 0.04 0.28 0.25 0.27 - 0.03 0.46 0.19 0.35 0.31 0.33 - 0.03 0.60 0.27 0.13 0.12 0.12 - 0.01 0.23 0.09 0.11 0.08 0.10 - 0.00 0.17 0.06 0.06 0.03 0.05 + 0.02 0.09 0.03 0.04 0.02 0.04 + 0.02 0.06 0.02 0.03 0.03 0.03 - 0.01 0.05 0.02 0.04 0.04 0.04 + 0.01 0.06 0.02 1.54 0.95 1.40 + 0.40 1.54 0.15 10.48 9.73 9.81 - 0.56 11.40 8.89 13.00 12.27 12.39 - 0.54 17.20 10.32 0.00 0.00 0.00 - 0.00 0.00 0.00 0.04 0.03 0.04 + 0.01 0.04 0.01 0.31 0.29 0.30 - 0.01 0.76 0.19 0.25 0.23 0.23 - 0.02 0.54 0.17 2.04 1.57 1.90 - 0.06 2.08 0.30

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Standard Metal* O 12 Stans Energy V 1157 Stans Energy* O 688 Star Gold* O 2 Starcore Intl T 134 26 Starr Peak Exp V Stellar Africa V 689 Sterling Grp* O 9 Stina Res 2462 Stina Res* O 62 Stornoway Diam* O 4 Stornoway Diam T 2335 Stratabd Mnr V 409 Strateco Res* O 424 Strategic Metl V 1063 Strategic Metl* O 341 Strategic Res V 30 Strikepoint Gd V 302 Strikepoint Gd* O 30 Suncor Energy* N 17172 Suncor Energy T 11610 Sunvest Mnrls* O 138 Sunvest Mnrls V 566 O 87 Superior Gold* Supreme Metals 413 Sutter Gold* O 44 Syrah Res* O 85

0.08 0.06 0.08 - 0.00 0.22 0.04 0.05 0.04 0.04 - 0.01 0.08 0.03 0.04 0.03 0.03 - 0.01 0.06 0.02 0.11 0.06 0.11 + 0.05 0.16 0.04 0.32 0.30 0.31 + 0.01 0.77 0.29 0.12 0.11 0.11 - 0.01 0.17 0.08 0.05 0.04 0.04 - 0.01 0.07 0.02 0.05 0.00 0.05 + 0.01 0.18 0.02 0.32 0.27 0.28 - 0.01 0.35 0.07 0.25 0.22 0.22 - 0.01 0.27 0.05 0.61 0.60 0.60 - 0.01 0.96 0.54 0.76 0.73 0.73 - 0.02 1.33 0.69 0.05 0.03 0.03 - 0.01 0.06 0.01 0.01 0.00 0.00 - 0.01 0.07 0.00 0.49 0.43 0.45 - 0.01 0.73 0.37 0.39 0.34 0.34 - 0.02 0.54 0.28 0.25 0.00 0.25 + 0.09 0.25 0.10 0.17 0.15 0.16 - 0.01 0.67 0.15 0.13 0.12 0.13 - 0.01 0.47 0.12 34.23 33.32 33.33 - 0.40 35.18 27.96 42.87 41.92 42.06 - 0.06 44.90 36.09 0.09 0.09 0.09 - 0.01 0.16 0.07 0.12 0.00 0.11 - 0.02 0.24 0.08 0.76 0.73 0.74 - 0.01 0.78 0.71 0.04 0.03 0.04 + 0.01 0.15 0.02 0.02 0.02 0.02 - 0.01 0.06 0.02 3.04 2.93 2.95 - 0.02 3.14 1.68

Tahoe Res* N 8107 T 2678 Tahoe Res Taku Gold 78 Talon Metals T 267 Tamino Mnrls* O 658 Tanager Energy V 378 Tanqueray Expl V 447 Tantalex Res 648 Tanzania Rlty* X 745 Tanzania Rlty T 140 Taranis Res V 608 Taranis Res* O 3 Tartisan Res 506 Taseko Mines T 1196 Taseko Mines* X 4799 Teck Res T 9140 Teck Res* N 23999 Teck Res T 11 Telson Res * O 196 Telson Res V 256 Tembo Gold V 333 Tembo Gold* O 567 Teranga Gold* O 49 Teranga Gold T 632 Teras Res V 52 Terraco Gold V 435 Terrax Mnrls* O 161 Terrax Mnrls V 440 Teslin Rvr Res V 1082 Tethyan Res V 272 Teuton Res V 451 Teuton Res* O 184 Texas Mineral* O 248 Themac Res V 30 Thor Expl V 199 Till Capital* D 30 Till Capital V 2 Tiller Res V 75 V 135 Timberline Res Timberline Res* O 422 Timmins Gold T 660 Timmins Gold* X 668 Tinka Res* O 1426 Tinka Res V 1788 Tintina Res* O 327 Tintina Res V 862 Tirex Res V 107 Tirex Res* O 86 Titan Mining T 9881 Titanium Corp V 209 TMAC Resource* O 11 480 TMAC Resources T TNR Gold V 343 Toachi Mg Inc* O 25 TomaGold V 2085 Tombstone Expl* O 1659 Tonogold Res* O 115

5.27 4.97 4.99 - 0.24 12.65 4.24 6.57 6.23 6.30 - 0.20 16.91 5.31 0.17 0.13 0.16 - 0.01 0.25 0.06 0.12 0.10 0.10 - 0.02 0.15 0.06 0.00 0.00 0.00 - 0.00 0.00 0.00 0.15 0.10 0.11 - 0.04 0.20 0.07 0.98 0.75 0.89 + 0.15 1.56 0.72 0.10 0.09 0.09 - 0.02 0.17 0.03 0.32 0.28 0.29 - 0.02 0.89 0.28 0.40 0.35 0.35 - 0.06 1.09 0.35 0.13 0.10 0.13 + 0.01 0.13 0.08 0.11 0.11 0.11 + 0.02 0.11 0.06 0.14 0.09 0.13 - 0.01 0.18 0.03 2.93 2.66 2.81 - 0.02 2.96 0.56 2.34 2.12 2.23 - 0.03 2.46 0.42 29.64 27.07 28.68 + 0.02 35.67 19.27 23.67 21.69 22.74 - 0.19 26.60 14.56 29.94 27.12 28.40 - 0.42 36.49 20.00 0.49 0.39 0.45 - 0.06 0.72 0.11 0.66 0.50 0.57 - 0.07 0.89 0.16 0.02 0.01 0.02 + 0.01 0.06 0.01 0.02 0.01 0.02 + 0.01 0.05 0.01 2.33 2.19 2.22 - 0.11 6.40 2.02 2.91 2.80 2.82 - 0.07 6.05 2.75 0.12 0.00 0.12 + 0.02 0.19 0.08 0.10 0.08 0.09 + 0.01 0.17 0.08 0.47 0.40 0.41 - 0.06 0.70 0.30 0.58 0.50 0.52 - 0.06 0.92 0.40 0.64 0.58 0.60 - 0.03 0.76 0.21 0.06 0.04 0.04 - 0.01 0.10 0.04 0.22 0.16 0.18 - 0.03 0.35 0.15 0.18 0.14 0.15 + 0.00 0.26 0.11 0.22 0.21 0.22 + 0.01 0.39 0.09 0.06 0.04 0.04 - 0.03 0.10 0.03 0.22 0.16 0.20 + 0.01 0.25 0.08 3.97 3.40 3.96 + 0.59 4.39 3.30 4.50 0.00 4.50 + 0.25 5.85 4.10 0.20 0.19 0.19 - 0.04 0.85 0.05 0.41 0.36 0.39 + 0.03 0.73 0.32 0.32 0.29 0.30 + 0.02 0.53 0.02 5.34 5.06 5.09 - 0.15 7.99 3.70 4.29 4.03 4.05 - 0.16 6.06 2.70 0.51 0.47 0.47 - 0.00 0.59 0.14 0.63 0.59 0.60 + 0.01 0.78 0.19 0.08 0.06 0.07 - 0.01 0.10 0.04 0.10 0.08 0.08 - 0.02 0.14 0.06 0.05 0.04 0.04 - 0.01 0.12 0.03 0.04 0.04 0.04 + 0.00 0.09 0.02 1.34 1.26 1.31 - 0.02 1.34 1.26 1.49 1.45 1.47 + 0.02 1.50 0.41 6.99 0.00 5.84 - 1.79 14.76 5.84 8.88 7.01 7.20 - 2.13 20.18 7.01 0.06 0.05 0.05 - 0.01 0.06 0.02 0.25 0.25 0.25 - 0.02 0.35 0.25 0.09 0.07 0.08 - 0.01 0.13 0.06 0.01 0.00 0.01 - 0.00 0.01 0.00 0.16 0.09 0.14 + 0.05 0.16 0.02

(100s) Stock

Week

12-month

(100s)

Exc Volume High Low Last Change High Low

Torex Gold* O 51 Torex Gold T 1325 Toron, Inc* O 8318 V 476 Torq Resources Torq Resources* O 5 Tower Res V 766 Treasury Metal* O 77 Treasury Metal T 554 Trecora Res* N 150 Trek Mining* O 58 Trek Mining V 497 Tres-Or Res V 1039 Trevali Mng* O 447 Trevali Mng T 12069 Trifecta Gold V 53 Trifecta Gold* O 27 TriMetals Mng T 386 TriMetals Mng* O 71 O 248 TriMetals Mng* Trinity Res* O 2 Trio Resources* O 3904 TriStar Gold* O 69 TriStar Gold V 353 Triumph Gold V 280 Triumph Gold* O 248 Troy Enrgy V 245 Trueclaim Expl V 1189 Tudor Gold V 54 Tudor Gold * O 10 Tungsten Corp* O 3166 10600 Turquoise HIl* N Turquoise HIl T 2726 TVI Pacific* O 234 Tyhee Gold* O 5 Typhoon Expl V 92

15.82 14.04 14.16 - 1.64 25.59 12.73 19.82 17.66 17.88 - 1.83 33.85 17.05 0.00 0.00 0.00 - 0.00 0.01 0.00 0.65 0.60 0.63 - 0.01 1.00 0.53 0.50 0.48 0.48 - 0.02 0.73 0.48 0.16 0.14 0.14 - 0.01 0.34 0.11 0.55 0.52 0.55 + 0.03 0.67 0.30 0.69 0.64 0.66 - 0.01 0.90 0.51 12.85 12.05 12.30 - 0.45 14.80 9.75 0.82 0.79 0.80 - 0.02 1.55 0.75 1.03 0.99 1.00 - 0.02 2.06 0.96 0.05 0.05 0.05 - 0.01 0.06 0.03 1.29 1.15 1.19 - 0.07 1.34 0.73 1.61 1.43 1.48 - 0.09 1.64 0.96 0.15 0.15 0.15 + 0.01 0.40 0.14 0.12 0.11 0.11 + 0.00 0.20 0.11 0.18 0.16 0.18 - 0.01 0.29 0.16 0.18 0.16 0.16 - 0.00 0.21 0.11 0.15 0.12 0.14 - 0.00 0.23 0.12 0.01 0.00 0.01 - 0.00 0.17 0.01 0.00 0.00 0.00 - 0.00 0.00 0.00 0.20 0.19 0.20 - 0.01 0.34 0.17 0.27 0.23 0.27 + 0.03 0.44 0.22 0.39 0.31 0.36 - 0.05 0.57 0.18 0.33 0.25 0.29 - 0.04 0.46 0.13 0.10 0.09 0.09 - 0.02 0.15 0.01 0.02 0.02 0.02 - 0.19 0.45 0.15 0.68 0.59 0.60 - 0.05 0.94 0.37 0.54 0.54 0.54 - 0.01 0.71 0.33 0.00 0.00 0.00 + 0.00 0.00 0.00 3.44 3.14 3.18 - 0.16 3.80 2.44 4.31 3.97 4.01 - 0.18 5.03 3.25 0.02 0.01 0.02 + 0.01 0.06 0.00 0.00 0.00 0.00 + 0.00 0.01 0.00 0.08 0.07 0.08 + 0.01 0.12 0.06

U3O8 Corp T 68 U3O8 Corp* O 6 442 Ucore Rare Mtl* O Ucore Rare Mtl V 529 UEX Corp T 1348 Ultra Lithium V 221 Ultra Lithium* O 42 Umbral Enrgy* O 22 Umbral Enrgy 12933 Unigold* O 31 Unigold V 137 United Res Hdg* O 12 United Silver* O 1555 United States A* X 353 United States S* N 61297 Unity Energy V 53 Unity Energy* O 8 Universal Vent V 409 Upper Canyon V 25 Ur-Energy* X 1454 Ur-Energy T 152 Uracan Res* O 28 Uragold Bay Rs V 1837 Uranium Res* D 2073 Uranium Valley V 404 URZ Energy* O 108 URZ Energy V 163 O 356 US Cobalt * US Cobalt V 1667 US Energy* D 368 USCorp* O 399 Vale* N 150557 Vale* N 17070 Valencia Vent V 295 ValGold Res V 90 Valley High Mg* O 188 Valterra Res V 566 Valterra Res* O 160 Vanadium One V 10173 Vanadiumcorp* O 63 Vanadiumcorp V 698 Vangold Res V 35 Vanstar Mng Rs V 20 Vantex Res V 135 Vatic Vent V 1416 Vedanta* N 1682 Velocity Mnrls* O 19 Velocity Mnrls V 295 Vendetta Mng* O 126

0.30 0.27 0.28 - 0.01 1.00 0.21 0.28 0.21 0.21 - 0.03 0.36 0.20 0.25 0.23 0.23 - 0.02 0.28 0.18 0.31 0.29 0.29 - 0.03 0.37 0.22 0.18 0.17 0.17 - 0.02 0.43 0.15 0.30 0.22 0.27 + 0.05 0.30 0.14 0.24 0.17 0.24 + 0.10 0.24 0.11 0.15 0.12 0.15 + 0.01 0.15 0.02 0.20 0.15 0.16 - 0.01 0.20 0.03 0.21 0.19 0.20 - 0.01 0.26 0.12 0.25 0.23 0.25 + 0.02 0.35 0.15 0.01 0.01 0.01 - 0.00 0.04 0.01 0.01 0.00 0.00 - 0.01 0.01 0.00 0.28 0.23 0.26 - 0.01 0.52 0.22 28.57 26.39 28.43 + 1.07 41.83 17.05 0.20 0.14 0.14 - 0.03 0.35 0.11 0.19 0.13 0.14 + 0.01 0.19 0.10 0.50 0.40 0.40 - 0.04 0.50 0.40 0.30 0.28 0.28 + 0.02 0.60 0.05 0.55 0.50 0.50 - 0.05 0.91 0.41 0.67 0.62 0.65 - 0.01 1.19 0.55 0.03 0.01 0.01 - 0.01 0.07 0.01 0.09 0.08 0.09 + 0.01 0.26 0.08 1.24 1.07 1.10 - 0.15 4.00 0.97 0.16 0.15 0.16 + 0.01 0.33 0.04 0.43 0.40 0.40 - 0.05 0.51 0.33 0.54 0.50 0.50 - 0.05 0.79 0.20 0.52 0.43 0.50 + 0.04 0.88 0.27 0.65 0.53 0.64 + 0.09 0.99 0.45 1.09 0.93 1.00 + 0.01 2.74 0.60 0.01 0.00 0.01 + 0.00 0.01 0.00 10.65 9.95 10.28 - 0.17 11.72 5.96 9.86 9.24 9.60 - 0.09 11.10 5.67 0.15 0.00 0.14 - 0.01 0.30 0.08 0.07 0.06 0.06 - 0.01 0.07 0.02 0.00 0.00 0.00 - 0.00 0.02 0.00 0.04 0.03 0.03 - 0.01 0.07 0.03 0.04 0.03 0.03 - 0.01 0.05 0.01 0.12 0.00 0.10 + 0.02 0.19 0.06 0.10 0.08 0.10 + 0.00 0.13 0.02 0.13 0.11 0.12 + 0.01 0.18 0.04 0.10 0.10 0.10 + 0.02 0.22 0.05 0.10 0.10 0.10 + 0.01 0.15 0.05 0.08 0.06 0.06 - 0.02 0.25 0.06 0.05 0.05 0.05 - 0.01 0.12 0.04 20.96 20.03 20.21 + 0.16 20.96 11.55 0.23 0.20 0.23 + 0.02 0.35 0.17 0.29 0.24 0.28 + 0.01 0.47 0.22 0.21 0.19 0.21 - 0.00 0.27 0.08

Stock

Week

12-month

Exc Volume High Low Last Change High Low

Verde Potash T 178 Veris Gold* O 691 Victoria Gold V 1105 Victory Nickel* O 1 Virginia Enrgy V 25 Viscount Mng V 475 340 Visible Gold M V Vista Gold* X 857 Vista Gold T 29 Volcanic Gold V 508 Voltaic Min V 179 Voyageur Min* O 87 Voyageur Min V 309 VR Resources V 73 Vulcan Mnrls V 76 VVC Expl V 460

0.20 0.57 - 0.13 1.77 0.70 0.57 0.00 0.00 - 0.00 0.02 0.00 0.00 0.42 0.52 + 0.01 0.74 0.53 0.50 0.00 0.02 - 0.00 0.14 0.02 0.00 0.04 0.16 + 0.01 0.38 0.16 0.16 0.22 0.25 - 0.02 0.81 0.27 0.22 0.13 0.10 0.12 + 0.02 0.35 0.10 0.63 0.73 - 0.04 1.24 0.80 0.72 0.89 0.91 - 0.07 1.61 1.01 0.91 0.14 0.38 + 0.02 0.65 0.40 0.35 0.05 0.06 - 0.01 0.24 0.06 0.06 0.06 0.06 - 0.00 0.06 0.06 0.06 0.04 0.07 + 0.01 0.13 0.07 0.05 0.18 0.28 - 0.04 0.51 0.30 0.27 0.04 0.06 + 0.01 0.08 0.06 0.06 0.02 0.04 - 0.01 0.05 0.04 0.04

Wabi Explor 5 Walker River V 595 T 1276 Wallbridge Mng Waseco Res V 160 WCB Res V 598 Wealth Mnrls* O 243 Wealth Mnrls V 689 O 268 Wellgreen Plat* T 2044 Wesdome Gold O 217 Wesdome Gold* V 2800 West Af Res 100 West Kirkland * O 62 West Red Lake* O 262 West Red Lake Westbay Vent V 10 O 28 Western Areas* T 572 Western Copper X 589 Western Copper* 27 Western Pac Rs V Western Res* O 5 11 Western Troy C V Western Uran 29 Western Uran* O 35 V 427 Westhaven Vent O 52 Westhaven Vent* Westmoreland* D 1354 O 93 WestMountain* O 669 Westridge Res* Westridge Res 1246 White Gold* O 34 White Gold V 100 311 White Metal Rs V O 5 Whitehaven Coa* O 2 Wincash Apolo* Wolfden Res* O 74 Wolfden Res V 817 Wolfeye Res V 1357 WPC Res V 695 X-Terra Res V 382 Xander Res V 758 Xiana Mng V 19 Ximen Mng* O 25 Ximen Mng V 299 97 XLI Tech Inc* O V 82 Xtierra Xtra-Gold Res T 30 O 20 Xtra-Gold Res* Yamana Gold T 10107 42607 Yamana Gold* N Yanzhou Coal* O 6 Yorbeau Res T 1356 Zadar Vent V 147 Zena Mng V 1602 O 4 Zenyatta Vent* Zenyatta Vent V 151 Zephyr Mnls* O 52 Zephyr Mnls V 105 Zimtu Capital V 77 789 Zinc One Res V 216 Zinc One Res * O Zincore Mtls V 43 Zonte Mtls V 951

0.05 0.09 + 0.01 0.09 0.09 0.00 0.07 0.10 - 0.01 0.18 0.11 0.00 0.04 0.07 - 0.02 0.14 0.09 0.07 0.04 0.05 - 0.01 0.12 0.06 0.05 0.03 0.05 - 0.01 0.09 0.06 0.05 0.71 1.57 - 0.02 1.69 1.64 1.50 0.95 1.96 - 0.01 2.10 2.05 1.87 0.16 0.24 - 0.01 0.39 0.26 0.22 1.93 2.03 - 0.01 4.40 2.06 1.96 0.00 1.60 - 0.03 3.22 1.69 1.58 0.42 0.34 0.42 + 0.07 0.42 0.19 0.06 0.05 0.05 - 0.01 0.09 0.04 0.13 0.09 0.10 + 0.00 0.24 0.08 0.15 0.11 0.12 - 0.03 0.31 0.10 0.16 0.17 - 0.05 0.36 0.22 0.17 1.57 2.40 + 0.13 2.44 2.44 2.40 0.97 1.39 - 0.03 2.24 1.50 1.34 0.74 1.10 - 0.03 1.80 1.20 1.08 0.02 0.01 0.01 - 0.01 0.04 0.01 0.29 0.33 + 0.00 0.47 0.33 0.33 0.03 0.03 0.03 - 0.01 0.04 0.02 0.87 0.95 - 0.06 2.80 1.04 0.87 0.69 0.75 - 0.10 2.17 0.85 0.69 0.07 0.10 + 0.02 0.15 0.10 0.09 0.05 0.08 + 0.03 0.10 0.08 0.06 2.37 1.98 2.26 - 0.02 19.92 1.88 0.00 0.00 - 0.00 0.08 0.01 0.00 0.12 0.22 - 0.01 0.26 0.26 0.22 0.29 0.29 - 0.01 0.38 0.38 0.29 0.74 1.24 + 0.09 1.73 1.24 1.16 0.65 1.56 - 0.04 2.34 1.60 1.40 0.04 0.03 0.03 - 0.01 0.07 0.03 1.81 2.87 - 0.05 3.03 2.92 2.87 0.03 0.07 + 0.02 0.22 0.07 0.06 0.10 0.21 + 0.02 0.23 0.22 0.00 0.08 0.27 + 0.02 0.30 0.27 0.24 0.23 1.38 - 0.02 1.59 1.59 1.37 0.04 0.05 - 0.01 0.13 0.05 0.04 0.15 0.25 - 0.01 0.40 0.29 0.24 0.23 0.25 - 0.04 0.45 0.29 0.25 0.08 0.09 + 0.01 0.21 0.09 0.08 0.03 0.03 - 0.00 0.09 0.04 0.03 0.03 0.04 + 0.01 0.13 0.04 0.04 0.01 0.01 0.01 + 0.00 0.05 0.00 0.02 0.02 - 0.01 0.06 0.02 0.02 0.17 0.27 - 0.01 0.37 0.28 0.27 0.12 0.20 - 0.03 0.28 0.22 0.20 2.84 3.41 + 0.12 5.26 3.44 3.26 2.21 2.72 + 0.07 3.95 2.74 2.60 0.68 0.99 - 0.07 1.06 1.06 0.99 0.08 0.09 - 0.01 0.14 0.09 0.08 0.07 0.08 - 0.01 0.16 0.09 0.08 0.06 0.02 0.16 + 0.11 0.16 0.00 0.61 0.66 + 0.03 0.97 0.69 0.66 0.74 0.81 - 0.01 1.29 0.87 0.79 0.15 0.25 + 0.01 0.30 0.26 0.24 0.18 0.30 - 0.02 0.42 0.32 0.29 0.16 0.28 - 0.01 0.40 0.29 0.00 0.48 0.44 0.45 - 0.03 0.90 0.13 0.37 0.35 0.36 - 0.01 0.81 0.01 0.06 0.10 - 0.01 0.29 0.11 0.10 0.05 0.18 + 0.02 0.49 0.18 0.16

W-Z

U-V

BID-ASK — OCTOBER 16–20, 2017 STOCK

12-MONTH

EXC BID ASK LAST HIGH

Acme Res Corp African Metals Aguila Amer Gd Alba Minerals Alderon Iron* Allante Potash Alliance Mng ALQ Gold Amanta Res Amato Expl Angus Ventures APAC Res Inc Arch Coal* Arco Res Arcturus Vent Arian Res Ashanti Sanko Astar Mnls Astur Gold Atlantic Ind Atlatsa Res* Atom Energy Aurelius Min Austin Res Balto Res Bearclaw Cap Bethpage Cap BHK Mining Bird River Res Black Bull Res Blackheath Res Bluenose Gold Boss Power Brigadier Gold Buffalo Coal Bullman Mnls Cairo Res Cameo Res Candelaria Mg Canex Energy Cascade Res Cassius Vents Castle Res Catalina Gold Chieftain Mtls Chinapintza Mg Cliffs Nat Res* Clydesdale Res CMX Gold & Sil CNRP Mng Compass Gold Confedertn Mls Cons Westview Copper Reef Mg Corazon Gold CWN M’g Acq Cyprium Mng Dawson Gold Desert Star DV Resources Eastern Zinc

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

10-12_OCT30_StockTables.indd 12

0.01 0.03 0.02 0.06 0.09 0.06 0.11 0.23 0.27 0.23 0.45 0.15 0.16 0.16 0.28 ... 0.40 0.14 0.52 0.06 0.11 0.05 0.07 0.06 0.06 0.04 0.05 0.25 0.29 0.22 0.45 0.01 0.02 0.01 0.03 0.06 0.03 0.07 0.41 0.50 0.41 0.45 0.04 0.06 0.06 0.10 ... ... 0.58 0.06 0.08 0.06 0.12 0.11 0.23 0.11 0.25 0.01 0.02 0.01 0.02 0.03 0.03 0.03 0.10 0.31 1.00 0.35 0.40 0.06 0.08 0.08 0.10 0.01 0.01 0.01 0.05 ... ... 0.06 0.45 0.06 0.08 0.05 0.65 0.13 0.14 0.14 0.15 0.01 0.02 0.02 0.05 0.04 0.05 0.04 0.04 0.03 0.05 0.03 0.06 0.07 0.15 0.07 0.16 0.02 0.02 0.02 0.05 0.05 0.09 0.09 0.09 0.10 0.18 0.10 0.15 0.05 0.07 0.07 0.11 0.03 0.07 0.04 0.06 0.17 0.20 0.17 0.17 0.25 0.17 0.30 0.01 0.02 0.02 0.03 0.10 0.26 0.10 0.12 0.37 0.98 0.37 0.60 1.40 1.40 1.34 1.75 0.53 0.69 0.69 1.08 0.33 0.40 0.32 0.70 0.02 0.04 0.02 0.05 0.03 0.05 0.03 0.06 0.17 0.37 0.19 0.42 0.05 0.07 0.08 0.08 ... ... 0.05 0.23 0.01 0.05 0.01 0.02 1.45 3.20 1.43 7.17 0.05 ... 0.06 0.06 0.08 0.09 0.09 0.10 0.71 0.76 0.76 12.50 0.06 0.08 0.07 0.12 0.61 0.68 0.61 1.06 0.40 0.70 0.40 0.55 0.02 0.03 0.02 0.05 0.52 0.55 0.55 0.55 0.15 0.26 0.16 0.27 0.03 0.03 0.03 0.12 0.15 0.34 0.30 0.30 0.39 0.50 0.45 0.47 0.51 0.59 0.55 0.63 0.18 0.35 0.17 0.30

LOW

0.03 0.18 0.04 0.12 0.04 0.02 0.03 0.03 0.35 0.03 0.01 0.08 0.01 0.03 0.17 0.01 0.01 0.06 0.05 0.03 0.01 0.01 0.03 0.04 0.02 0.03 0.06 0.04 0.01 0.13 0.01 0.05 0.21 0.31 0.52 0.30 0.02 0.02 0.01 0.08 0.03 0.01 0.98 0.06 0.04 0.18 0.06 0.46 0.35 0.02 0.30 0.15 0.03 0.09 0.18 0.02 0.10

STOCK

12-MONTH

EXC BID ASK LAST HIGH LOW

European Metal C Excalibur Res C Fieldex Expl V Finore Mng C Fire River Gol V Firebird Res V First Idaho V Freeport Res V Gentor Res V GFM Res V Global Cobalt V V Global Cop Grp God’s Lake Res C Gold Finder Ex V Goldbank Mng V GoldTrain Res C Granite Ck Gld V Gravis Energy C Greatbanks Res V Green River C Greenshield Ex V Hadley Mng C Highbury Proj V Highvista Gold V Integra Res C Intl Battery C Iron South Mng V Jazz Res V JDF Explor Inc C Jiulian Res V Karoo Expl V Kenna Res V La Imperial C Legion Metals C Leo Res C Lions Bay Cap V Lithion Energy V Lovitt Res V Lund Enterpr V Maccabi Vent C Madeira Mrnls V MAG Silver* X Martina Mnls V Match Capital V McChip Res V Metalore Res V MillenMin Vent V Millstream Min V Minecorp Egy V Minsud Res V Miramont Res C Moag Copper C Montana Gold C Montero Mg&Ex V Morgan Res V Mountain Lake C Mukuba Res V Nebu Res V Network Expl V New Destiny Mg V New Klondike V

... 0.01 0.01 0.09 0.10 0.10 0.11 0.18 0.19 0.19 0.40 0.12 0.12 0.11 0.50 0.03 0.07 0.09 0.75 0.02 0.02 0.02 0.04 0.05 0.25 0.05 0.10 0.03 0.04 0.03 0.08 0.16 0.20 0.20 0.20 0.05 0.09 0.05 0.05 0.02 0.02 0.02 0.08 0.07 0.08 0.08 0.11 0.07 ... 0.07 0.07 0.11 0.14 0.12 0.20 0.22 0.29 0.22 0.34 0.06 0.50 0.06 0.25 0.03 0.05 0.03 0.08 ... 0.03 0.01 0.01 0.03 0.05 0.03 0.05 0.10 0.05 0.06 0.06 0.15 0.05 0.08 0.95 0.98 0.95 1.08 0.25 ... 0.25 0.30 ... 0.16 0.17 0.95 1.00 1.00 1.00 ... ... 0.31 0.40 0.24 0.27 0.24 0.28 0.07 0.08 0.07 0.11 0.01 ... 0.01 0.05 0.06 0.04 0.06 0.02 0.02 0.02 0.03 0.13 0.16 0.15 0.16 0.04 0.11 0.04 0.11 0.11 0.20 0.11 0.11 1.06 1.09 1.09 2.50 0.04 0.10 0.04 0.04 ... ... 0.10 0.18 0.03 0.09 0.10 0.17 0.12 0.14 0.14 0.18 0.03 0.09 0.03 0.09 0.03 0.07 0.03 0.05 12.52 13.30 12.52 14.40 0.03 0.06 0.03 0.04 0.01 0.04 0.04 0.55 ... 0.50 0.60 3.25 4.20 4.20 5.16 0.05 0.07 0.05 0.05 0.04 0.06 0.04 0.13 ... ... 0.12 0.20 0.08 0.10 0.10 0.16 0.25 0.35 0.30 0.30 ... ... 0.08 0.09 0.10 0.10 0.10 0.15 0.17 0.17 0.40 0.01 0.02 0.01 0.07 0.05 0.07 0.05 0.09 0.08 0.15 0.06 0.16 0.04 0.04 0.04 0.05 0.17 0.23 0.17 0.20 0.22 0.22 0.22 0.01 0.01 0.01

0.01 0.10 0.09 0.03 0.02 0.05 0.03 0.07 0.01 0.01 0.04 0.02 0.08 0.06 0.06 0.01 0.01 0.01 0.04 0.06 0.25 0.06 0.11 0.04 0.06 0.02 0.01 0.14 0.04 0.10 0.05 0.01 0.03 0.03 0.09 0.03 0.01 6.12 0.02 0.37 1.50 0.05 0.04 0.07 0.03 0.20 0.02 0.15 0.01 0.02 0.06 0.01 0.16

STOCK

12-MONTH

EXC BID ASK LAST HIGH LOW

Newmac Res Niocan Inc Noble Metal Gr North Am Ptash NQ Explor Nrthn Lion NSS Res Inc Oronova Energy Pac Arc Res Pac Cascade Pac Iron Ore Pac Link Mng Peat Res Pedro Res Pele Mtn Res Phoenix Gold Phoenix Metals Pitchblack Res Prime Meridian Rainmaker Res Randsburg Intl Rare Element* Red Tiger Mng Remo Res Riley Resource Rockex Mng Rockland Mnls Rojo Res Romulus Res Royal Sapphire RTG Mining Rubicon Mnrls* Samco Gold Savoy Vent Scavo Res SGX Res Sniper Res SouthGobi Res Spada Gold Standard Graph Stockport Expl Stone Ridge Ex Tajiri Res Talmora Diamd Tearlach Res Telferscot Res Terreno Res Theia Res Tri-River Vent Trigen Res True North Gem UC Res United Coal Vanadium One Vela Minerals West High Yld Westminster Rs Winston Res Worldwide Res Zara Res Zinco Mng

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

0.06 0.07 0.06 0.08 0.07 0.08 0.07 0.15 0.01 0.01 0.01 0.02 0.05 0.08 0.04 0.15 0.01 0.01 0.01 0.04 0.45 0.57 0.45 0.74 0.06 0.19 0.06 0.21 0.36 0.40 0.40 0.46 0.10 0.21 0.14 0.16 0.01 0.02 0.01 0.02 0.16 0.30 0.16 0.22 0.03 0.07 0.04 0.07 0.01 0.02 0.01 0.03 0.26 0.38 0.30 1.05 0.02 0.02 0.02 0.40 ... 0.01 0.01 0.19 0.20 0.21 0.41 0.45 0.41 0.46 0.12 0.15 0.14 0.05 0.06 0.05 0.17 0.01 0.02 0.02 0.03 0.11 0.16 0.15 0.89 0.02 0.03 0.03 0.10 0.09 0.15 0.09 0.30 0.11 0.15 0.11 0.20 0.02 0.04 0.02 0.07 0.07 0.08 0.08 0.11 0.39 0.45 0.45 0.55 0.15 0.23 0.19 0.20 0.13 0.23 0.13 1.40 0.15 0.18 0.15 0.40 ... ... 0.03 1.35 0.02 0.03 0.03 0.05 0.25 0.45 0.45 0.45 0.36 0.57 0.36 0.54 0.02 0.02 0.02 0.05 0.01 0.01 0.01 0.07 0.21 0.26 0.27 0.50 0.18 0.38 0.18 0.38 0.18 0.18 0.17 0.20 0.02 0.03 0.03 0.06 0.06 0.10 0.10 0.15 0.10 0.12 0.10 0.21 0.01 0.02 0.01 0.01 0.08 0.15 0.08 0.16 0.01 0.01 0.01 0.03 0.04 0.05 0.04 0.08 0.09 0.15 0.12 0.20 0.04 0.12 0.04 0.04 0.08 0.12 0.08 0.10 ... 0.01 0.01 0.01 0.01 0.02 0.02 0.03 ... 0.01 0.01 0.13 0.15 0.13 0.22 0.05 0.06 0.05 0.09 2.00 2.10 2.00 3.80 0.35 0.36 0.35 0.50 0.56 0.58 0.56 0.82 0.01 0.02 0.01 0.05 0.07 0.15 0.15 0.43 0.05 0.07 0.05 0.08

0.04 0.05 0.01 0.03 0.01 0.11 0.05 0.30 0.09 0.01 0.13 0.01 0.01 0.13 0.15 0.07 0.05 0.01 0.06 0.02 0.09 0.11 0.01 0.01 0.30 0.09 0.10 0.12 0.03 0.02 0.05 0.26 0.01 0.01 0.12 0.13 0.05 0.02 0.04 0.08 0.01 0.02 0.01 0.03 0.07 0.03 0.07 0.01 0.01 0.09 0.03 0.09 0.15 0.03 0.01 0.01 0.01

2017-10-24 5:32 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / OCTOBER 30–NOVEMBER 12, 2017

First Mining Finance president Patrick Donnelly (far left) looks over core samples with colleagues at the Springpole gold project, 110 km northeast of Red Lake, Ontario. FIRST MINING FINANCE

First Mining tables positive PEA at Springpole ONTARIO

BY RICHARD QUARISA rquarisa@northernminer.com

preliminary economic assessment (PEA) of First Mining Finance’s (TSX: FF) wholly owned Springpole goldsilver project, 110 km northeast of Red Lake, Ont., has yielded positive results, the company said on Sept. 21. SRK Consulting prepared the study. It indicates the project may have economic viability, with a 36,000-tonne-per-day processing plant operating over a 12-year life. To get into production would cost First Mining an initial US$586 million in capital expenditures followed by US$117 million in sustaining capital for a total of US$703 million, plus closure and reclamation costs estimated at US$20 million. The payback period would be 3.5 years. The company says the project

| Proposed mine could produce 296,000 oz. gold annually

has “excellent margins,” with low anticipated cash costs of US$619 per equivalent oz. gold and an average annual payable production of 322,000 equivalent oz. gold over the life-of-mine. The study says Springpole could annually produce 296,500 payable oz. gold and 1.6 million payable oz. silver. The study calculates the after-tax net present value using a 5% discount rate at US$792 million, with a 32% after-tax internal rate of return. Springpole has a resource of 139 million indicated tonnes grading 1.04 grams gold per tonne and 5.4 grams silver per tonne, or 4.67 million contained oz. gold and 24.19 million contained oz. silver. It also has 11.4 million inferred tonnes grading 0.63 gram gold and 3.1 grams silver, or 0.23 million contained oz. gold and 1.12 million contained oz. silver. The assumed metal prices for the resources are

US$1,400 per oz. gold and US$15 per oz. silver. “The main goal going forward is permitting,” First Mining’s chairman Keith Neumeyer said from the sidelines of the Denver Gold Forum during a phone interview with The Northern Miner. “With the current 5 million oz., it will be one of the largest gold mines in Canada. It’s not like we need more than 5 million ounces.” The total cost of material processed is an estimated US$5.30 per tonne, including US$1.60 per tonne of material mined at a 2.1to-1 strip ratio. “It’s been drilled a lot,” Neumeyer said of the deposit. “If you look at the numbers, the inferred number is tiny. Most of the resource is already in a high enough category to assume it’s mineable. But there is some exploration upside that is of interest to us, so we’re thinking about a winter program.”

The mine would be a truck-andshovel operation with a single pit, followed by milling, carbon-inpulp leaching and doré poured onsite. The study estimates equipment will cost US$193 million. Next, First Mining aims to complete an environmental assessment in the first quarter of 2018. “The shorter-term strategy is de-risking the asset, because it needs a road, it needs a power line, it needs the permits to advance the project,” Neumeyer said. “So we’re going to be submitting documents to the provincial government over the next six to 12 months to start the permit process.” The property covers more than 320 sq. km of the Birch-Uchi greenstone belt. First Mining would have to clear 23,000 sq. metres for a transmission line as well as build a 39 km unpaved road to develop the site.

First Mining would also have to drain 6.1% of the surface water from Springpole Lake. The study estimates 21.7 million cubic metres of water would have to be removed from the area by building three dikes up to five metres high and a combined 510 metres long. Drainage can concur with mill construction. Fi rst M i n i ng acqu i red t he Springpole property from Gold Canyon Resources in November 2015 in a three-way merger that included PC Gold. “They did a heck of a good job developing and defining the asset, and we knew there was significant upside still remaining,” Neumeyer said. First Mining shares closed at 63¢ on Sept. 22, one day after the announcement — but had risen to 68¢ at press time on Sept. 27. The firm’s market capitalization is $375 million. TNM

Samples from First Mining Finance’s Springpole gold project in Ontario. FIRST MINING FINANCE

1-7,13,15_OCT30_Main .indd 13

2017-10-24 6:32 PM

WWW.NORTHERNMINER.COM

OCTOBER 30–NOVEMBER 12, 2017 / THE NORTHERN MINER

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14_OCT30_ProDirectory .indd 14

2017-10-24 5:38 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / OCTOBER 30–NOVEMBER 12, 2017

Dalradian on path to production at Curraghinalt NORTHERN IRELAND

| Diamond mining-style ore sorting may improve gold project’s economics

BY LESLEY STOKES lstokes@northernminer.com BEAVER CREEK, COLORADO

mineral-processing technology commonly used in the diamond mining industry may improve the economics for Dalradian Resources’ (TSX: DNA; US-OTC: DRLDF) Curraghinalt gold project, 127 km by road west of Belfast, Northern Ireland. The company has used X-ray, laser and computer technology to separate ore from non-mineralized material in a 5-tonne sample that graded 9.52 grams gold per tonne during ore sorting. The amount of waste that would have been sent to the mill in a potential mining scenario at Curraghinalt was reduced by 36% and the head grade increased by 55% to 14.72 grams gold. Patrick Anderson, Dalradian’s president and CEO, told The Northern Miner on the sidelines of the Precious Metals Summit in Beaver Creek, Colo., that ore sorting could save the company US$52 million in operating and processing costs, which would more than offset US$12.6 million in potential revenue loss due to a 0.7% decrease in gold recovery. The company can save even more if it chooses mechanized longhole mining over the cut-and-fill method, which was previously envisaged for better dilution control in the feasibility study of the project completed last December. “When I first saw the results I thought: ‘This is great. Why haven’t we done this sooner?’” Anderson said. “Our chief operating officer Eric Tremblay is very innovative and a great champion of new technology. He’s built a lot of mines around the world and is always looking at what’s going on around the world, and what can apply to projects.” Although ore-sorting technology has existed since the 1970s, its application in fields other than diamond mining has only been recognized recently, by precious metals miners such as Hecla Mining (NYSE: HL) and Goldcorp

A drill rig at Dalradian Resources’ Curraghinalt gold project, 127 km by road west of Belfast, Northern Ireland. DALRADIAN RESOURCES

“WHEN I FIRST SAW THE RESULTS I THOUGHT: ‘THIS IS GREAT. WHY HAVEN’T WE DONE THIS SOONER?” PATRICK ANDERSON PRESIDENT AND CEO, DALRADIAN RESOURCES

(TSX: G; NYSE: GG). Anderson says that every rock is scanned by a high-speed sensor as it moves on a conveyor belt and is separated into two piles, using automated air jets that are triggered by the sensor. The process is best used at smaller-scale, 2,000- to 3,000-tonne-per-day operations, and where sensors can easily detect colour or density contrasts in the ore. “The computational power of the technology has advanced so much that we’re now seeing it being used on gold and silver deposits,”

Anderson added. “It’s a really great technology and I expect we’ll start seeing more companies use it at their operations.” Dalradian is looking to incorporate results from the test work into a revised feasibility study for Curraghinalt, which Anderson expects in the second quarter next year. The December 2016 feasibility study outlined an 11-year, 1,400-tonne-per-day underground operation with an after-tax net present value (NPV) of US$301 million at a 5% discount rate, and a 24.4% internal rate of return (IRR), assuming US$1,200 per oz. gold. In August, the company closed the acquisition of the 2% net smelter return royalty on the property from private company Minco. Anderson says the acquisition could boost the project’s NPV another US$21 million and the IRR by 1.1%. The underground mine is modelled on proven and probable reserves of 5.2 million tonnes of 8.54 grams gold per tonne for 1.4 million oz. gold. Dalradian has also launched a 30,000-metre infill and stepout drill

AME panel AME From 4

watch it like a hawk, so don’t make a blind spot, such as not discussing any issues with First Nations.” TD’s Melek similarly warned companies to not overpromise and under-deliver. “Years ago we ran some numbers and found that it was much more accretive to valuation when you promised less and delivered more,” Melek said. “Understating your objectives and beating expectations are always good.” Moore encouraged companies to reach a broader audience of potential investors via increased analyst coverage, newsletter writers, advertisements or paid advertorials. Boldt agreed, adding that companies that pursue only non-brokered financing arrangements may be holding themselves back from other opportunities. “There is a concept you have to pay the street … but introducing new investors to the story and paying

1-7,13,15_OCT30_Main .indd 15

“We’re looking at many ways to improve the project,” Anderson said, noting the company is submitting an application for mining. “But adding more ounces, geotechnical drilling and ore sorting are definitely the focus for the next update.” The company aims to begin mine construction at Curraghinalt in mid-2019. Anderson said Dalradian is “wellfunded for the work we’re doing, and should be financially wellpositioned for next year,” with $34 million in cash as of June 30, and more money flowing in from the exercise of warrants. Shares of the company have traded in a 52-week range of $1.06 to $1.78, and closed at $1.37 at press time. The company has 282.9 million shares outstanding for a $388-million market capitalization. TNM

CAREER OPPORTUNITIES

CAREERS ADVERTISING RATES

“I WANT TO SEE A FOCUSED PERSON — SOMEONE WHO IS HUNGRY AND DYING TO MAKE A DISCOVERY OR PUT A PROJECT IN PRODUCTION.” ROSIE MOORE CONSULTING GEOLOGIST AND ANALYST

the finder’s fee can be a good route to take,” Boldt said. Even in difficult markets, a company can find innovative ways to create value while being patient, Moore emphasized, whether it be merging with peers, or downsizing. Gray offered Integra Gold — since acquired by Eldorado Gold (TSX: ELD; NYSE: EGO) — as an example of a company that “took initiative” in a bear market and gained global recognition of its Sigma-Lamaque gold property in Quebec through its Gold Rush Challenge. “There’s always an opportunity to capture the market through innovative approaches,” Gray said.

campaign, as part of the company’s drive to improve Curraghinalt’s economics by boosting the project’s resources. The campaign aims to upgrade some of the project’s inferred resource into the indicated category, and complete geotechnical work on more areas of the deposit that could be incorporated into the mine plan. Total measured and indicated resources stand at 5.6 million tonnes of 11.61 grams gold for 2.1 million oz. gold, while inferred resources add 7.13 million tonnes of 10.06 grams gold for 2.3 million oz. gold. Latest results from drilling include a 2-metre intercept of 32.5 grams gold in a 400-metre stepout from the high-grade Curraghinalt veins, while infill results include 1.2 metres of 76.22 grams gold.

Lastly, Gray said a management team that has a strong knowledge of capital and commodity markets and geopolitics can put a company ahead of the rest. “A range of intelligence on a country or commentary on competitors saves me a lot of time and is very helpful,” Gray said. “You want investors to remember you and say, ‘I’d take a meeting with that CEO any day of the week.’” AME’s Speaker Series is a networking event that takes place three times per year. This latest event was completed in partnership with Women in Mining British Columbia. TNM

$12.65 per agate line. Minimum size 2 columns x 1” $354.20. Closing date is 10 days prior to publication date. All Canadian orders subject to applicable taxes.

For further Careers advertising information contact: Joe Crofts 416-510-6816, jcrofts@northernminer.com, Toll free North America: 1-888-502-3456, (ext. 43729) Fax: 416-447-7658

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2017-10-24 6:30 PM

16_OCT30_BackCover.indd 16

2017-10-24 12:12 PM

JANUARY 22-25, 2018

SPECIAL SUPPLEMENT TO THE NORTHERN MINER / OCTOBER 30–NOVEMBER 12, 2017

PAGES B1 - B8

INVITATION FROM THE CHAIR

David Gale, SSR Mining Inc., Chair, Roundup 2018 Organizing Committee

We invite you to join us at one of the world’s premier technical mineral exploration conferences. AME’s Mineral Exploration Roundup 2018 will take place January 22-25 in beautiful Vancouver, BC. Every year, explorers from around the world come together to share their latest findings, stories, successes and innovative ideas to further the exploration industry. As the industry gains momentum, and sees a resurgence in many regions, Roundup’s theme, “New Generation of Discovery,” will bring experienced mineral explorers together to examine new geoscience ideas, innovative technologies and creative business solutions to lead the way to success. Everything

from 3D/VR/AR applications to undiscovered places to unlikely partnerships –the opportunities are here. 2018 marks AME’s 35th consecutive conference and while new ideas continue to flow, we can’t forget our renowned foundational programming

in our Core Shack, Technical Sessions, and Student Poster Session. Leading up to the conference we will be providing a full slate of short courses that will include the Structural Geology of Canadian Ore deposits, the Geology of Zinc deposits and Geometallurgy

for Geologists. And if you’re looking to involve your family, our public outreach presentation, Discovery Day, is an event for an explorer of any age to learn more about minerals and exploration in a fun and accessible way. We would like to thank the 6,000

participants from more than 40 countries who attended Mineral Exploration Roundup 2017, and on behalf of the Roundup Organizing Committee, we look forward to seeing you again at Vancouver’s Canada Place on January 22-25, 2018.

ABOUT AME The Association for Mineral Exploration (AME) is the lead association for the mineral exploration and development industry based in British Columbia. Established in 1912, AME represents, advocates, protects and promotes the interests of thousands of members who are engaged in mineral exploration and development in B.C. and throughout the world. AME encourages a safe, economically strong and environmentally responsible industry by providing clear initiatives, policies, events and tools to support its membership.

TNM Roundup Oct 30 2017.indd 1

•

ConstruCtion AnD Mining serviCes

2017-10-24 10:29 AM

AME ROUNDUP 2018 / THE NORTHERN MINER / OCTOBER 30-NOVEMBER 12, 2017

THANK YOU TO OUR AME ROUNDUP 2018 SPONSORS!

PATRON SPONSOR

PLATINUM SPONSORS

GOLD SPONSOR

SILVER SPONSORS

BRONZE SPONSORS

MEDIA SPONSOR

Sponsorship opportunities are available for AME Roundup 2018. For more information, please contact Simone Hill, director of events and membership for AME, at 604.630.3921. Sponsors listed are confirmed at the time of printing.

TNM Roundup Oct 30 2017.indd 2

2017-10-24 10:29 AM

OCTOBER 30-NOVEMBER 12, 2017 / THE NORTHERN MINER / AME ROUNDUP 2018

Vancouver Convention Centre Vancouver Convention Centre

TECHNICAL SESSIONS OFFICIAL OPENING CEREMONIES AND KEYNOTE SPEAKER Monday, January 22 | Morning

Join us to kick off Roundup 2018 with featured keynote speaker Kelvin Dushnisky, President of Barrick Gold Corporation.

REGIONAL OVERVIEWS – BC/YUKON/ALASKA Monday, January 22 | Morning

This signature session will provide an update on mineral exploration and mining activities in British Columbia, Yukon, and Alaska. The content will link the latest geoscience information with the latest mineral exploration and mining industry activities. This session is geared to providing prospectors, exploration geologists, engineers, miners, financial analysts, investment organizations and senior industry leaders with a solid foundation and a vision to succeed. Please join us as we

celebrate the successes of the past year in mineral exploration and mining, and gear up for the discoveries ahead.

GOVERNMENT AND INDUSTRY SESSION

NEW GEOSCIENCE: RESEARCH AND KNOWLEDGE FOR EXPLORATION

The ninth annual B.C. Government and Industry Session will feature an opportunity for B.C. political leaders to provide their mineral exploration and mining policy positions during a facilitated question and answer period with delegates.

Monday, January 22 | Afternoon

The New Geoscience Session (formerly Public Geoscience) will feature technical talks by government and university geoscientists. New geoscience informs mineral exploration and can expand its footprint, underpinning a New Generation of Discovery. This session, “Expanding Exploration Space”, will communicate front-line geoscience initiatives that are helping expand the footprint of exploration across the northern Cordillera. Topics will cover deposit to regional scales, serving first-hand research on established and nascent deposits while engaging contemplation on new exploration environments.

Monday, January 22 | Afternoon

COMMODITIES AND FINANCIAL MARKETS

GENERAL INFORMATION Venue NEW FOR 2018 – AME Roundup 2018 will be held at Vancouver Convention Centre West, 1055 Canada Place, Vancouver, B.C. Online Registration Visit roundup.amebc.ca to register and for conference, visitor and hotel information. Registration Inquiries: For registration questions, please contact Conexsys Event Registration at 1.855.787.2457 (toll-free) or email roundup@conexsys.com.

Tuesday, January 23 | Morning

Hotel information

This year's session brings together commodity experts that will discuss outlook fundamentals for precious metals; base metals, including copper, zinc, and lead; plus the energy metals, cobalt and lithium. Together with finance experts in private equity and mining economics, this session will discuss, among other things, the global economy and its impact on mineral exploration, mining and metals.

AME has secured competitive rates at local hotels for Roundup 2018. Booking within the conference hotel block directly supports the association. Attendees booking inside the block will also be eligible to receive additional conference amenities and even upgrades at some locations. We appreciate your support in booking your accommodations through our partnering hotels. This year, we are also pleased to be working with Cambridge House to overlap conference dates for 2018 and beyond. Visit http://roundup.amebc.ca/ attendees/hotel-visitor-info/ for details.

THINK ZINC! Tuesday, January 23 | Afternoon

INTERNATIONAL HIGHLIGHTS Wednesday, January 24 | Morning

There has been renewed interest in mineral exploration this year and a number of companies have stepped up their activity. This session will highlight exciting discoveries from around the world that demonstrate the clever and effective groundwork that has been done during the recent tough down-cycle over recent years.

A Compelling Canadian Gold-Copper Development Opportunity Supported by High Quality Royalties

CANADIAN HIGHLIGHTS Wednesday, January 24 | Afternoon

This session will engage speakers from an exciting selection of gold, polymetallic and uranium projects from across Canada. These projects represent the various stages of the exploration cycle and will be of interest to explorers, project development professionals and financiers.

B.C., YUKON, ALASKA Thursday, January 26 | Morning

This session will present the highlights of some of the exciting and innovative exploration programs that are operating in B.C., Yukon and Alaska across a range of commodities and deposit types.

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www.auricometals.ca 416.216.2780 TSX: AMI

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AME ROUNDUP 2018 / THE NORTHERN MINER / OCTOBER 30-NOVEMBER 12, 2017

EXHIBIT HALL

The Exhibit Hall is a staple of Roundup and presents an unparalleled opportunity to visit a wide cross-section of companies working in the mineral exploration and development sector. Along with great exploration and service and supply companies, make sure to check out the Core Shack, Prospectorsâ&#x20AC;&#x2122; Tent and Poster Session, all located on the Exhibit Hall floor. Dates: Monday, January 22, to Thursday, January 25 Time: 9 a.m. to 4 p.m. (Monday to Wednesday); 9 a.m. to 2:30 p.m. (Thursday)

AME ROUNDUP 2018 EXHIBITOR LIST As of October 16, 2017. Subject to change. Visit roundup.amebc.ca for a list of current exhibitors, booth numbers and days exhibiting. Education/Government/ Association Alberta Energy AME (Association for Mineral Exploration) Association of Professional Engineers & Geoscientists of BC (APEGBC) BC Ministry of Energy and Mines BC Securities Commission BCIT - Mining and Mineral Exploration Canada Revenue Agency Canada-Nunavut Geoscience Office CanNor CIM (Canadian Institute of Mining, Metallurgy and Petroleum) CODES - University of Tasmania

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DataBC Geoscience BC Government of Nunavut Government of Saskatchewan Government of the Northwest Territories Indigenous and Northern Affairs Canada Laurentian University MDRU - Mineral Deposit Research Unit, UBC New Brunswick Department of Energy and Resource Development Newfoundland and Labrador Department of Natural Resources Northwest Territories Regions Nova Scotia Department of Natural Resources

Nunavut Tunngavik Incorporated NWT & Nunavut Chamber of Mines Ontario Ministry of Northern Development and Mines Prospectors & Developers Association of Canada (PDAC) SGDS Hive Society of Economic Geologists Inc. (SEG) State of Alaska Terrace Business Resource Centre/Northwest Regional Airport (Terrace/Kitimat) UBC Mining Engineering Yukon Chamber of Mines Yukon College Centre for Northern Innovation in Mining Yukon Dan

Exploration & Mining Agnico Eagle Almaden Minerals Ltd. Aston Bay Holdings Ltd AuRico Metals Inc. Avidian Gold Inc Avino Silver & Gold Mines Ltd. BMC Minerals Canadian Zinc Corporation Colorado Resources Ltd. Constantine Metal Resources Ltd. Discovery Group Eagle Plains Resources Ltd./ TerraLogic Exploration Inc. Eastfield Resources Ltd. EMX Royalty Corp. (formerly Eurasian Minerals) Evrim Resources Corp.

Hecla Mining Company High Power Exploration Hunt Mining Corp Imperial Metals Corporation Independence Gold Corp. Margaux Resources Ltd Mexican Gold Corp Midas Gold Corp. North Arrow Minerals Inc. Sabina Gold & Silver Corp. Selwyn Chihong Mining Ltd. Skeena Resources Limited Teck Resources Limited Thane Minerals Inc. Wellgreen Platinum Ltd. Zimtu Capital Corp.

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OCTOBER 30-NOVEMBER 12, 2017 / THE NORTHERN MINER / AME ROUNDUP 2018

AME ROUNDUP 2018 EXHIBITOR LIST

Service & Supply 62 Degrees North Inc Abitibi Geophysics Inc Activation Laboratories Ltd. (Actlabs) Agilent Technologies AIL Mining Alaska Structures, Inc. ALS ALX AMC Mining Consultants Amec Foster Wheeler Anachemia Science a VWR Company Analytical Solutions Ltd. APEX Geoscience Ltd. ASD, INC. Atlas Drilling Ltd. Auracle Geospatial Science Inc. Aurora Geosciences Ltd. AuTec Innovative Extractive Solutions AWC Process Solution Ltd Big Ice Services BigSteelBox Structures Blue Coast Research Boart Longyear

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Bruker Bureau Veritas Minerals Camfil Farr APC Canadian Helicopters Limited Canyon Equipment Caron Business Solutions Inc. CDN Resource Laboratories Ltd. CGG Coast Mountain Geological Ltd. Condor North Consulting ULC Corescan Inc Crone & TMC Geophysics Datamine Deakin Industries DGI Geoscience Inc Dias Geophysical Di-Corp Discovery International Geophysics Inc. Eagle Mapping Ltd. Elemental Controls Limited Energold Drilling Corp. Equity Exploration Consultants Ltd

ERM Extreme Products / Talik Fladgate Exploration Consulting Corporation FORACO Fordia Group Inc Foremost Foundex Explorations Ltd. Frontier Geosciences Inc. Frontier Power Products Ltd. Galaxy Broadband Communications Inc. Geoanalytical Laboratories - SRC Geometrics Georeference Online Ltd Geosoft Geotech Drilling Service Ltd. Geotech Ltd. Geotic Inc. Globalstar Canada Satellite Co. Gold Sniffer Inc Golder Associates Ltd. Great Slave Helicopters Ltd. GroundTruth Exploration Hardrock Diamond Drilling Ltd.

Hatfield Consultants Helicopter Transport Services (Canada) Inc. Heliproducts Industries Ltd Honeywell Footwear Hunter Dickinson Inc Hy-Tech Drilling Ltd. ICOM Canada Independent Laboratory Supply InfoMine Inc INFOSAT Communications LP Instrumentation GDD Inc. Integrated Sustainability IRL Supplies Ltd. Kemetco Research Kenn Borek Air Ltd Knight Piesold Ltd LandSea Camp Services Leapfrog Software (ARANZ Geo Canada Ltd.) Lorax Environmental Services Ltd. Loring Laboratories Ltd. Manning Elliott LLP Maxwell GeoServices (Canada) Inc. Maxxam Analytics Inc. MBI Drilling Products Inc. McCue Engineering Contractors McElhanney Consulting Services Ltd. Mira Geoscience Ltd. MMD Mineral Sizing (Canada) Inc. MS Analytical Mud Bay Drilling (2015) Ltd. Multi-Power Products Ltd. National Compressed Air Canada Ltd. Networks Innovations New-Sense Geophysics Ltd. Nolinor Aviation Northern Thunderbird Air Inc. Northspan Explorations Ltd. Northwest Truck Rentals Ltd. Northwestel Inc. Omega Drilling OrbitGarant Drilling Overburden Drilling Management Limited Pacific Geomatics Ltd. PanPacific Wireline Services Peter E. Walcott & Associates Limited PhotoSat

Placer Gold Design Pothier Enterprises Ltd. Precision GeoSurveys Inc. Precision Service & Pumps Inc. Procon Mining and Tunneling Ltd Prolenc Manufacturing Inc Quantec Geoscience Radius Drilling Corp. Raven Rescue Ltd. Raymac Environmental Services Inc. Reflex Instrument North America Limited Remote Helicopters Ltd Robertson Mfg Ltd S&P Global Market Intelligence Sander Geophysics Secure-Rite Mobile Storage Inc SGS Canada Inc. SIMS Group SJ Geophysics Ltd. Skyline Assayers & Laboratories SkyTEM Canada Inc. SLR Consulting (Canada) Ltd. Spatial Technologies Spectral Evolution SRK Consulting (Canada) Inc. Stewart World Port Superior Propane SurveyTECH Instruments Team Drilling LP TECH Directional Services Terra Remote Sensing Inc TerraCore Terraplus Inc. Terraquest Ltd. Tetra Tech The Northern Miner Tintina Air Trans North Helicopters Triton Environmental Consultants TSL Laboratories Tufport Industries Ltd. Tundra Sales Inc. Veolia Water Technologies Canada Inc. Vista Clara, Inc. Weatherhaven Xpera Risk Mitigation

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AME ROUNDUP 2018 / THE NORTHERN MINER / OCTOBER 30-NOVEMBER 12, 2017

EVENTS TICKETED NETWORKING EVENTS

GENERAL NETWORKING EVENTS

SPORTING EVENTS HOCKEY CHALLENGE

Tickets are available for purchase when registering.

ICEBREAKER RECEPTION

CHAIR’S WELCOME DINNER

STUDENT-INDUSTRY NETWORKING EVENT

Sunday, January 21

AME LUNCH

POSTER SESSION RECEPTION

Monday, January 22

Tuesday, January 23

FINANCE LUNCH

B.C. NIGHT

Tuesday, January 23

Sean Roosen, Chair of the Board of Directors and Chief Executive Officer of Osisko Gold Royalties

PASSPORT TO EXPLORE RECEPTION

AME ENVIRONMENT, HEALTH AND SAFETY AWARDS BREAKFAST

EXHIBIT HALL HAPPY HOUR

Wednesday, January 24 Corrie Pitzer, CEO and Founder, SAFEmap International.

Monday, January 22 (1 to 4 p.m.)

Sunday, January 21

Wednesday, January 24 Monday, January 22 – Wednesday, January 24 (4 to 5 p.m. daily)

AWARDS GALA: CELEBRATION OF EXCELLENCE Wednesday, January 24

CURLING BONSPIEL Wednesday, January 24 (6:30 to 10:30 p.m.)

FREE FAMILY EVENT DISCOVERY DAY! Sunday, January 21, 10 a.m. to 2 p.m. Discovery Day is an outreach event designed to educate the public about the mineral exploration industry and build awareness of the importance of minerals and metals in our everyday lives. Bring the whole family down to experience the intrigue and excitement of our industry, with interactive and educational displays that will engage both adults and children.

BEER & SANDWICH LUNCH Thursday, January 25

AME’S THE GATHERING PLACE

CORE SHACK AND TECHNICAL DISPLAYS

CORE SHACK

The Core Shack showcases new discoveries, leading prospects, advanced projects and operating mines from around the world. Core Shack 2018 will feature drill core samples from projects in diverse countries and settings, and represent a broad array of deposit types and project stages.

PROSPECTORS’ TENT

The Prospectors’ Tent provides an opportunity for independent prospectors to present their hard-earned mineral properties and discoveries. Featuring displays of maps, rock samples, drill core, sketches, photographs and analyses, it’s a great place to see properties with potential throughout B.C. and Yukon, and perhaps to make some discoveries of your own.

PASSPORT TO EXPLORE

The Passport to Explore Area in the

Exhibit Hall will host provincial, territorial and national geological surveys. These dedicated spaces are for delegates to meet and discuss exploration activities and opportunities with each of the jurisdictions. Join us Tuesday morning for the technical talks on the represented regions.

PROSPECT GENERATORS HUB

The Project Generator Tent will feature six companies during each day of Roundup that specialize in generating exploration ideas and turning these ideas into active projects. These ‘Project Generators,’ as they are known as, typically maintain a portfolio of projects that can be advanced by creating joint-venture partnerships with other companies. The project generator business model mitigates risk by exposing shareholders to the potential of multiple mineral dis-

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coveries, while conserving capital and managing equity dilution. This Area or “The Hub” will allow each company to exhibit maps and rocks from properties they would like to option/joint venture. As finding joint venture partners is a key component for a successful Project Generator, visitors to the Project Generators Hub would be all exploration and mining companies seeking new projects. The Hub will also interest students who wish to learn about how projects can be advanced from an idea to the drilling stage.

THE GATHERING PLACE: WHERE ABORIGINAL AND INDUSTRY LEADERS MEET Tuesday, January 23 – Wednesday, January 24

AME’s The Gathering Place is a space where industry, Indigenous people and governments meet to discuss challenges and success stories in developing working relationships in the mineral exploration sector. For the first time, there will be a Youth Panel to discuss careers and education for Indigenous youth in the mineral exploration/mining sector. The afternoon panels will explore and discuss Effective Indigenous Partnerships in Mineral Exploration as well as Indigenous Women in Mining. Day 2 presentations will have a more traditional Gathering Place with the return of the Government Leadership Panel, Chiefs Panel and Success Stories. Issues that are important to either government, indigenous communities or industry will be discussed to help the audience gain further insight as to how projects can be developed.

POSTER SESSION

The Poster Session is Canada’s premier venue for dissemination and examination of applied mineral deposit and exploration geoscience research. Every year, between 80 and 100 presenters from leading government, academic and industry research organizations gather at Roundup to share pioneering work on the genesis and distribution of mineral resources throughout Canada, and beyond. During the Poster Session Reception on Tuesday afternoon these experts will be at their posters, ready to answer questions and discuss the implications and applications of their science. No other forum in Canada can provide such a concentration of knowledge together with unbeatable opportunity for interactive knowledge transfer and networking. If you want to know the answers then this session may well be able to provide them. The Poster Session also enjoys participation from graduate students working at universities across Canada and around the world.

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OCTOBER 30-NOVEMBER 12, 2017 / THE NORTHERN MINER / AME ROUNDUP 2018

SHORT COURSES

Register early for Short Courses; these are often sold out well in advance of the conference. CAPITAL MARKETS FOR GEOLOGISTS

THE GEOLOGY OF ZINC DEPOSITS

Presented by: Dale Mah, Joe Mazumdar and Neil Adshead Saturday, January 20 and Sunday, January 21

Presented by: UBC’s Mineral Deposit Research Unit Saturday, January 20 and Sunday, January 21

COPPER AND MOLYBDENUM PORPHYRY DEPOSITS

USING QA/QC DATA TO MINIMIZE RISK IN EXPLORATION AND RESOURCE ESTIMATION

Presented by: Society of Economic Geologists Saturday, January 20 and Sunday, January 21

Presented by: Dennis Arne Saturday, January 20

MINERAL EXPLORATION AND MINING ESSENTIALS MAXIMIZING PROJECT VALUE: MANAGING RELATIONSHIPS AND THE SOCIAL CHAIN OF CUSTODY

Presented by: Dr. Robert Stevens Saturday, January 20

MINING COMPANY DISCLOSURE 101 AND 43-101 REGULATIONS Presented by: Geologists from the B.C. Securities Commission, TSX Venture Exchange (TSX-V) and Investment Industry Regulatory Organization of Canada (IIROC) Saturday, January 20

Presented by: AME Integrated Social Responsibility Committee Sunday, January 21

STUDENT GUIDE TO A CAREER IN EXPLORATION Presented by: Andy Randell, SGDS Hive Sunday, January 21

STRUCTURAL GEOLOGY IN EXPLORATION THINKING GEOMET? THINK ROCK CHARACTERIZATION!

Presented by: SRK Consulting Saturday, January 20 and Sunday, January 21

Published by:

Presented by: Julie Hunt, UBC's Mineral Deposit Research Unit Sunday, January 21

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

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HIGHLIGHTS FROM ROUNDUP 2017

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