The Northern Miner September 17 2018 Issue

GOLDEN RIDGE: DISCOVERY AT HANK PROJECT IN NORTHWEST BC / 3 Geotech_Earlug_2016_Alt2.pdf 1 2016-06-24 4:27:20 PM

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RNC finds multimilliondollar gold nuggets at Beta Hunt

IDM keen on Red Mountain in Golden Triangle SITE VISIT

| New resource estimate paves way for revised feasibility study in first quarter

AUSTRALIA

| ‘Once-ina-lifetime find’ relieves firm’s cash flow pressure

BY TRISH SAYWELL tsaywell@northernminer.com

R

NC Minerals (TSX: RNC) has found a 95-kilogram specimen of rock containing 2,400 oz. gold worth an estimated $4 million and another 65-kilogram specimen with an estimated 1,600 oz. gold valued at $2.6 million at its Beta Hunt mine in Australia.

The rare gold-encrusted rocks were found on level 15 of the mine and could rank among the largest ever discovered.

Over the last week, RNC has produced 9,250 oz. gold from a 44-cubic-metre cut — or 130 tonnes — from the mine’s level 15, worth $15 million in total at US$1,200 per oz. gold.

“It’s a once-in-a-lifetime find,” Mark Selby, RNC’s president and CEO, told analysts and investors on a conference call. “It’s one of the most outstanding discoveries not only in Western Australia, but globally.

“More than 9,000 oz. from a small area confirms the significance of these high-grade structures,” Selby continued. “This sediment structure has been well known and documented through geological work in a broader area, and [there is] also potential for literally kilometres of strike length for high-grade structures to be discovered.”

In March, the company announced it was looking for a buyer for the mine so that it could focus on its nickel-cobalt Dumont project, which it says has the world’s largest undeveloped reserves of nickel and second-largest undeveloped reserves of cobalt.

In July, RNC said it had selected a preferred bidder and granted it exclusivity to complete final due diligence. But with the discovery, management says, it will reconsider all alternatives, including a sale, but See RNC MINERALS / 8

The camp at IDM Mining’s Red Mountain gold project in northwest British Columbia. PHOTO BY COLIN DESMOND

BY COLIN DESMOND

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STEWART, B.C.

ancouver-based IDM Mining (TSXV: IDM; US-OTC: IDMMF) is steadily advancing its wholly owned Red Mountain gold project in northwestern British Columbia’s Golden Triangle region.

“We are about to have one of the few shovel-ready mines in Canada, and it’s going to do the one thing the mining business hasn’t lately — generate significant cash flow,” IDM president and CEO Robert McLeod tells The Northern Miner on a visit to the project.

Red Mountain stands between the Cambria Icefield and its largest outlet, the Bromley Glacier. From the nearby town of Stewart, it is a 10-minute helicopter ride.

Placer mining began in the valley below Red Mountain in the early 1900s, when prospectors were leading Stewart’s first wave of European settlement.

The area’s history is one McLeod, a third generation Stewart miner, knows well.

“IDM stands for Ian and Donald McLeod, two Stewart boys who

“MY FATHER TAUGHT ME TO RESPECT ALL PEOPLE, BUT ESPECIALLY OUR FIRST NATIONS NEIGHBOURS HERE IN NORTHWEST BRITISH COLUMBIA.” ROBERT MCLEOD PRESIDENT AND CEO, IDM MINING

did pretty well in life and mining,” McLeod says in reference to his late father and uncle.

Ian was a miner and pack horseman at a number of Golden Triangle mines before taking over his father’s hotel in Stewart. Donald is a member of the Canadian Mining Hall of Fame, who was known for his mining discoveries and developments throughout British Columbia.

Robert McLeod’s personal ties to the project go beyond his hometown: his career as an exploration geologist began at Red Mountain when he was working for Lac Minerals in the early 1990s.

Lac acquired Red Mountain in 1991, two years after gold-silver mineralization was found and three years after the first claim was staked. For the next five years,

the company built a productionsized exploration adit and drilled 90,000 metres from both surface and underground.

McLeod left Red Mountain in 1995, shortly before Lac was bought out by Barrick Gold.

From then until 2014, the project switched hands a few times, but stayed more or less dormant.

“It was a project I always had in the back of my mind,” McLeod says.

In 2014, he completed his return by forming IDM and buying Red Mountain from Seabridge Gold (TSX: SA; NYSE: SA).

Difficult junior-financing conditions at the time, caused by a drop in metal prices, kept a lid on activity for the first couple of See IDM MINING / 2

EVRIM RESOURCES: GETS INVESTMENT FROM NEWMONT / 7

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Site visit participants examining the Lost Valley zone’s Money Rock structure at IDM Mining’s Red Mountain gold project in northwest British Columbia.   PHOTO BY COLIN DESMOND

IDM keen on Red Mountain in Golden Triangle IDM MINING From 1

years. But in 2016, when the markets turned around, IDM was one of the first juniors to raise capital.

Since then, it has spent $30 million advancing Red Mountain towards production and growing resources along the way.

In June, IDM tabled an updated resource estimate that incorporated trench and channel sampling, 30,000 metres of mostly underground drilling, and a refined geological model.

Resources at Red Mountain are now estimated at 2.8 million measured and indicated tonnes grading 7.91 grams gold per tonne and 22.75 grams silver per tonne for a contained 704,600 oz. gold and 2.03 million oz. silver, almost double the 381,000 oz. gold and 1.4 million oz. silver tallied in 2014.

The conversion of almost all the inferred resources in Red Mountain’s three mineralized zones — Marc, AV and JW — to measured and indicated was responsible for most of the most recent increase in resources.

Red Mountain’s mineralized zones consist of tabular, northwest-trending and moderately to steeply southwest-dipping, goldand silver-bearing iron-sulphide stockworks. Pyrite is the dominant sulphide, with local pyrrhotite. The stockwork zones are developed within the Hillside porphyry, and, to a lesser extent, in rafts of sedimentary and volcaniclastic rocks.

Four kilometres southwest of those resources, rapid glacial retreat has opened up IDM’s most significant exploration upside in

the Lost Valley.

W hen Rober t McL eod wa s here in the 1990s, Lost Valley was submerged in ice connecting the Cambria Icefield with the Bromley Glacier’s northeastern flank.

IDM hopes it is the latest in a series of recent Golden Triangle discoveries revealed by rapidly melting glaciers, including Pretium Resources’ (TSX: PVG; NYSE: PVG) Valley of the Kings gold-silver deposit and Seabridge Gold’s Mitchell gold-molybdenum deposit.

In July, IDM reported surface sampling results from 51 panel samples collected on 1-metre intervals from Lost Valley’s Money Rock structure. The samples averaged 9.8 grams gold and 101.4 grams silver, including 2 metres averaging 13.4 grams gold and 1,531 grams silver.

In total, trenching has exposed over 100 metres of strike length along the Money Rock structure.

IDM hopes to connect with the nearby Randell vein, where hand trench samples within a sub-cropping of quartz and sulphide veins have averaged 22.4 grams gold and 81.7 grams silver over a 9-metre channel.

Surface-exploration work will continue at Lost Valley, in addition to Red Mountain, as the company moves through the permitting process.

That process reached a milestone on Aug. 29, when British Columbia’s Environmental Assessment Office completed its review of IDM’s application for Red Mountain. It will now be referred to the provincial cabinet, who will provide a decision within 45 days.

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The project is also subject to a concurrent federal environmental assessment, which IDM expects will conclude in late 2018 or early 2019.

An integral part of both reviews has been consultation with the Nisga’a, a First Nation located primarily in the nearby Nass River valley.

Red Mountain lies on Crown land within the Nass Wildlife Area, where the Nisga’a have fish and wildlife management rights set out in the Nisga’a Final Agreement, a land-claims settlement between the Nisga’a, provincial and federal governments signed in 1998.

The McLeod name is by no means foreign to the Nisga’a. Aside from their roots in the area, McLeod’s father was Stewart mayor for 15 years and helped run the late Nisga’a politician Frank Arthur Calder’s campaign to British Columbia’s legislature. (Calder’s victorious 1969 lawsuit against British Columbia’s attorney general, which established that Aboriginal title exists within modern Canadian law for the first time, paved the way for the Nisga’a Final Agreement three decades later.) “My father taught me to respect all people, but especially our First Nations neighbours here in northwest British Columbia,� McLeod says. “I’ve tried to incorporate those lessons as we work to develop what I believe is a very respectful, strong and positive partnership with the Nisga’a.�

McLeod’s vision for helping the Nisga’a build a mining culture — modelled on that of the nearby Tahltan Nation — is shared by Red Mountain camp manager and

Nisga’a member Stephen Bolton. “The forestry and fishery industries are in decline,� Bolton says. “The Nisga’a youth will grow up to be miners.�

McLeod hopes Bolton is one of many northern British Columbians who will benefit from a Red Mountain gold mine. “When it comes time to hire, our first priority is people from Stewart and the Nass River valley,� he says. “It’s just the right thing to do.�

As The Northern Miner was leaving Red Mountain, IDM staff were preparing to host Nisga’a elders and government officials for a property visit. IDM’s impacts and benefits agreement (IBA) with the Nisga’a — currently in draft form — will be on the agenda. McLeod says he expects the IBA to be ratified by the band’s government sometime in the fourth quarter.

Ideally, IDM would begin Mines Act permitting early next year, with the Nisga’a IBA and federal and provincial environmental approvals in hand.

That would coincide with an updated feasibility study IDM expects to publish in the first quarter.

The 2017 feasibility study envisioned Red Mountain would produce 425,000 oz. gold and 1.2 million oz. silver over a 5.4-year mine life. It projected a $104-million post-tax net present value and a 32% internal rate of return, after $135 million in pre-production capital expenses and $67 million in sustaining capital expenses.

McLeod is optimistic the updated feasibility study will show improved economics, after June’s updated resource estimate and changes to

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Red Mountain’s engineering plans.

After Osisko Gold Royalties (TSX: OR; NYSE: OR) invested $15 million in IDM through a private placement in February 2017, it dispatched its in-house engineering team to Red Mountain to help IDM improve its engineering plans for the project.

That has included, first and foremost, optimizing the underground mining methods. “If you want to learn how to mine underground, you go to Osisko,�

McLeod says.

For the steeper-dipping orebodies, Osisko’s team has recommended a lower minimum longhole stoping angle, thereby increasing the amount of tonnes available for longhole stoping.

For the shallow-dipping tabular orebodies, they have recommended the recently developed Holloway method, which will require less underground development than the previously planned cut-andfill method.

Osisko has also helped improve the ore processing, power and infrastructure plans at Red Mountain, McLeod says.

Within three months of publishing the updated feasibility study, IDM expects to solicit bids for a fixed-price engineering, procurement and construction contract that would help IDM offload the risk of delays and cost overruns to the engineering firm for a fixed fee in the contract price. “It would dramatically decrease the execution risk,� McLeod says. “For the majority of capital costs, you obtain certainty. With this type of small, in-the-ground project, where the costs are relatively predictable, engineering companies can take on some risk and make some money if they operate efficiently. It’s a win-win situation.�

IDM’s ease in raising equity over the past few years has generated significant dilution, limiting the attraction of another large offering. McLeod is optimistic there are synergies to be found with other projects in the area. “We are exploring lots of merger and acquisition opportunities,�

McLeod. “We’re not going to raise a bunch more capital and dilute our shareholders. Once our permit is in hand, we’re going to have one of the few shovel-ready projects in Canada.� TNM

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Golden Ridge makes discovery in Golden Triangle BRITISH COLUMBIA

| Junior ‘very lucky’ to pull out 327-metre intercept on first hole

BY TRISH SAYWELL

L

tsaywell@northernminer.com

arry Nagy has covered a lot of ground since graduating with a degree in geological sciences from the University of Saskatchewan in 1966.

As a director of Delaware Resources he was responsible for Delaware’s acquisition and development of the Snip property, a gold project in B.C. that he identified for re-staking in his earlier career at Cominco. He also served as a director of Calpine Resources, the company that optioned the Eskay Creek gold property and subsequently found one of the largest and richest gold-silver deposits in North America.

While president and CEO of Oliver Gold, Nagy led the team that unearthed the Segala gold deposits in Mali and the Ipanema gold deposit in Zimbabwe. He was also president and CEO of Solomon Resources at the time that it found, together with Channel Resources, the Bomboré gold deposits in Burkina Faso.

Two years ago, Nagy’s private company, now listed as Golden Ridge Resources (TSXV: GLDN), optioned the Hank property — 140 km north of Stewart in B.C.’s Golden Triangle — from Barrick Gold (TSX: ABX; NYSE: ABX).

The gold major had inherited the property in the 1980s from Lac Minerals, and hadn’t drilled it since.

“Every time it came up for review everyone would say, ‘Yeah, we should take a look at it,’ but rather than spending any money on it, they paid about $80,000 a year in cash in lieu and held on to the ground,” Nagy says in an interview. “Barrick, like most big companies, has dozens of prospective properties in their files. They drill the best ones first, and the Hank property just didn’t make the list.”

But Nagy had his eye on Hank for quite a long time — and his instincts that there could be something significant only intensified as exploration in the Golden Triangle started to heat up.

“We’ve had a lot of success over the years and after you look at hundreds of these things in the field — and you walk on the ground and look at all the alteration and the geology, and what other people have done — you get a feel for the property, and I really liked Hank from the very beginning,” he says.

In early August, Golden Ridge reported a 327-metre intercept grading 0.31% copper, 0.35 gram gold per tonne and 1.94 grams silver per tonne in a porphyry copper-gold discovery at Hank’s Williams zone.

The hole — 18-007 — ended in mineralized monzonite at 604 metres’ depth.

“We’re on to a major discovery at Williams,” Nagy says. “The monzonite may now be the feeder and the main drill target on Hank … it’s early stage, and I don’t want to get too excited because things could go south, but I doubt it.”

Golden Ridge’s geologists say that the broad intervals of intense potassic alteration with bornite and digenite indicate a large, alkalic, copper-gold porphyry system at surface. Only the top of the system has been hit, showing widespread phyllic (also known as “quartz-sericitepyrite”) alteration at surface, which often overlies porphyry copper-gold systems, and exists both above and lateral to the potassic-altered monzonite at Williams. The mineralized

At Golden Ridge Resources’ Hank gold project in northwest British Columbia, from left: chief geoscientist William Lindqvist, executive chairman Larry Nagy and CEO Mike Blady. GOLDEN RIDGE RESOURCES

monzonite shows continuity along strike and at depth, and the copper mineralization extends into the surrounding volcanic rocks.

An initial magnetic survey last year suggested a circular zone 400 metres in diameter. The mineralization forms a broad tabular zone extending beyond at least the northern limit of the magnetic anomaly.

The cause of the circular magnetic anomaly is unclear, but could come from magnetite alteration overlying a feeder stock at depth, the company says.

Golden Ridge has done two 3 km long induced-polarization (IP) lines, run on 250-metre centres, across the Williams zone. Preliminary results show a 0.8 km wide chargeability anomaly, coincident with the ground magnetic anomaly at surface in the Williams zone.

The chargeability anomaly plunges south, towards the property’s lower alteration zone (LAZ), and expands to over 1.6 km wide. Early interpretations suggest that the quartz-sericite-carbonate-pyrite alteration constituting LAZ could represent a large alteration halo overlying the southern extension of the Williams copper-gold porphyry.

The target is open south, north and at depth, off the IP grid.

Chris Paul, Golden Ridge’s vicepresident exploration, notes that Imperial Metals’ (TSX: III) Red Chris copper-gold mine, 75 km northeast, shares “remarkable” similarities in geology with the Hank property.

“If you read the history of Red Chris, it started as essentially something the size of what we’re seeing in the first couple of drill holes at Williams,” he says in a telephone interview from the project site. “There were two showings in the sixties and seventies — it wasn’t until the late 2000s that they decided to deep-drill that — and they found these two small zones coalesced at depth into one large, 4 km long porphyry … so just being so close to Red Chris and seeing the rock, alteration and mineralization looking so similar, it’s just really encouraging for the size potential of what the Williams could be over the coming years below the LAZ. The LAZ is 3 km, and we believe it’s essentially the halo around the porphyry.”

Lac Minerals acquired the property in 1983, drilled over 100 holes — mostly in the upper alteration zone — and in 1985 established a

small, historic resource of 50,000 oz. gold at 4 grams gold per tonne within 80 metres of surface. From that small resource, Lac started exploration drilling on other parts of the alteration zone, and the LAZ. Each of the zones had a strike length of over 2 kilometres.

“There were a lot of targets to test.

They had some successful holes, but were never able to increase the size of that resource past 50,000 oz.,” Mike Blady, a geologist and Golden Ridge’s president and CEO, says in an interview.

In 2016, the second year of the option agreement with Barrick, the work involved some geochemistry work, mapping, sampling and four IP lines on the property, mostly over the epithermal targets south of the new Williams zone discovery.

Last year Golden Ridge drilled Hank for the first time in over 25 years, using Lac Minerals’ old geologic model as its basis. Its first hole was drilled to confirm some of the old high-grade hits in the LAZ, and cut 4.3 metres of just under 25 grams gold-equivalent. Another hole — in a new zone in the LAZ called the Kaip zone — returned 21.6 metres of 7.04 grams gold-equivalent.

All the 2017 drilling culminated in the testing of Felsite Hill, which is located above the upper alteration zone and the Pits zone. The drilling at Felsite Hill was targeting a conceptual Bonanza-style feeder zone lying below the anomalous clay-silica-pyrite cap, and the downdip extension of the mineralized zones. But as it turned out, the target wasn’t mineralized as Golden Ridge and previous operators had anticipated.

“This left us scratching our heads as to what was going on in the property — we didn’t have a geological model that was working for us,” Blady says. “We started looking at the data harder, and one of the things that kept poking up was a copper anomaly to the north of Hank Creek.

We then started to focus our efforts north of the creek and completed soil samples that produced a nice copper-gold soil anomaly. We followed up with a ground mag survey focused over the geochemical anomaly and uncovered a round, circular, magnetic feature — about 400 metres in diameter — that was previously unknown.”

When Golden Ridge flew airborne magnetics a few years ago there was

an anomaly over what is now the Williams zone, and the company’s geophysicist thought it was probably insignificant — as a single point, it could have been a data-point anomaly, Blady says. But once they did the geochemistry, the team went back mid-year and hand-stripped the overburden.

“We started digging, doing hand trenches and eventually started pulling out boulders that had copper stains and a little bit of potassic alteration, so we kept digging and digging, and eventually we reached bedrock, and it was this intense potassic-altered monzonite. And we thought, ‘holy crap, this is all the signs of an alkali porphyry — a copper-gold porphyry!” Paul recalls.

They took samples, sent them to the lab, and got hits of between 0.5% and 0.8% copper at surface, with a half-gram to over a gram gold.

By that point, however, it was October 2017, and too late in the season to drill. Blady and Paul spent the winter looking at the data, hypothesizing that the new porphyry zone was somehow related to what was going on with the epithermal system to the south. The first drill hole into the Williams zone in 2018 hit the 327th-metre of 0.31% copper, 0.35 gram gold per tonne and 1.94 grams silver per tonne.

“It kind of blew our minds a little bit,” Paul says. “I was half expecting maybe it’s only a few metres, as all we hand-stripped was a few metres, and you can’t see it — it’s all blind.”

Paul notes that when Hank was last drilled in the 1980s, no one had figured out that the LAZ was the outer halo of a copper-gold porphyry.

“The LAZ was historically only mapped as being on the south side of the valley,” he says. “The historic workers had never actually crossed the creek to the north and explored the area of the Williams zone. What we found in our drilling on the Williams zone this year is that the LAZ actually continues across the creek to the north side of the valley and is connected to and overlying the Williams porphyry. The significance of this is that the entire 3 km length of the LAZ may be connected to underlying copper-gold porphyry mineralization.”

In the 1960s–1980s, he continues, they went after the low-hanging fruit — exposed rocks on mountain ridges — that were easy to find.

“They didn’t bother looking in the bottoms of the valleys and in the tall trees, because the rocks were not exposed. It took a bit of luck.

It just happened we had some soil samples over there.”

Two drill rigs are on the property completing a 6,000-metre program.

One drill is targeting the Williams zone, north of the creek, and the other drill is following up on epithermal hits on the south side of the creek.

“We’re just getting started — this is the first hole of what could be hundreds here,” Paul says. “The deposit is still open in all directions.”

Golden Ridge can earn a 100% interest in the Hank property by spending $1.7 million on exploration by the end of 2018. Barrick keeps a 2% net smelter return royalty (NSR) and has a back-in provision. Under the provision, if Golden Ridge finds 3 million oz. gold, Barrick has the option to back-in to a joint venture.

Should that scenario come to pass, Barrick would own 51% and Golden Ridge, 49%. The NSR would be extinguished and Barrick would reimburse Golden Ridge’s exploration expense.

“For a junior, you have to be either lucky or have a lot of money,” Nagy says. “In our case, we don’t have a lot of money, but were very lucky to have hit in the first hole.”

He also credits the geology professors at Simon Fraser University, who taught Blady and Paul their craft.

“They are really a credit to their profs,” he says. “They certainly have a good sense of what makes an orebody, and technically, they’re first class.” TNM

Congratulations to Stu Averill ODM’s Founder and Chairman Recipient of the 2017 Gold Medal Award for Outstanding Contribution to Exploration Geochemistry presented at RFG 2018 by the Association of Applied Geochemists.

44 years and still Exploring Heavy Minerals!

Overburden Drilling Management Limited

107-15 Capella Court Ottawa, Ontario, K2E 7X1 www.odm.ca | odm@storm.ca (613) 226-1771

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E D I T O R IA L O P- E D Cobalt’s much-anticipated Worries of lithium demise (not) oversupply dog market DBRS CONCERN

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T

here’s no better example of how unhinged the junior mining market can get than the last few releases in August from Toronto-based Desert Lion Energy in relation to its assets in Namibia.

Desert Lion proudly describes itself as a “lithium development company focused on building Namibia’s first

BY JOHN CUMMING jcumming@northernminer.com large-scale lithium mine. The company is currently in phase one of its production plan, producing and exporting lithium concentrate from stockpiled material.”

On Aug. 27, the junior reported it was pleased to announce the receipt of its phase-two mining licence by Namibia’s Ministry of Mines and Energy. The mining licence has been granted for an initial 10-year period, effective immediately, and covers 68.7 sq. km, including the area where the company’s current Rubicon and Helikon mines are located.

“We are excited to announce this key step in advancing Desert Lion’s Namibian lithium project,” said Desert Lion president and CEO Tim Johnston. “Receipt of this mining licence demonstrates the strong working relationship between our Namibian team, the Ministry of Mines and Energy, Namibia and various stakeholders. We look forward to building a sustainable project [that] the community where we operate, employees and investors, and Desert Lion will be proud of.”

Flash forward, er, four days to Aug. 31, and Desert Lion was telling the market it had “ceased all operations in Namibia in light of the continued decline in lithium carbonate pricing. The board is currently re-assessing the previously announced three-stage execution plan and is evaluating all available options to find a sustainable path to the continued development of its Namibian lithium project.”

The junior said it had started negotiating with its offtake partner, Jiangxi Jinhui Lithium Co. Ltd., to “amend the pricing metrics under its offtake agreement in light of the current lithium carbonate pricing environment.”

Desert Lion still intends to announce a maiden resource estimate and preliminary economic assessment for the project before the end of September 2018.

The sudden turn in Desert Lion’s fortunes is emblematic of the overarching worry that has beset the lithium industry this year: that grandiose projections of skyrocketing demand for lithium batteries in the decades to come will be overshadowed by a more immediate wall of oversupply that could lower lithium prices in the near- to mid-term.

The wider market seems to think so, as share prices for lithium stocks from junior explorers to seasoned producers have come under increasing pressure this year, even in the face of the Chilean government’s pending water restrictions for new lithium mines in the Atacama Desert.

Jay Turner, senior vice-president of mining at bond-rating agency DBRS, writes in a new report that there is “ample potential new supply from outside Latin America that will meet projected demand, but could also lead to oversupply in the mid-term.”

An example he gives is Rio Tinto’s Jadar project in Serbia, which he says could be a “medium-term disruptor of the lithium market, because it could supply low-cost, by-product lithium through its well-established marketing channels in Europe and Asia for its borate products.”

Metal Bulletin’s latest Lithium Price Spotlight records a 5.6% price fall just for this past week for 99.5% lithium carbonate in China to 80,000–90,000 yuan (US$11,640 to US$13,095) per tonne, with export prices and prices in Japan and South Korea following the Chinese domestic prices lower. This compares to prices for lithium carbonate in the range of 180,000 yuan (US$26,189) per tonne in China, as recently as December 2017.

DBRS’s Turner notes that during a presentation in August, major lithium producer SQM predicted that lithium demand should grow at a compound annual rate of 13–17%. But SQM also says this will result in an oversupply of lithium carbonate in 2022 (by which time SQM will have regained its crown as the world’s largest lithium producer), as its demand forecast is for 475,000 tonnes, while its supply forecast is for 735,000 tonnes.

This makes DBRS and other observers skeptical that new entrants can make a go of it in the newly difficult lithium space.

Desert Lion’s near-death experience in the Namibia desert in August backs up that view. TNM

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COMMENTARY

| Desert Lion finds chaos in Namibia

DEPARTMENTS Editorial. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Metal Prices. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

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

COMPANY INDEX Agnico Eagle Mines. . . . . . . . . 7 Alamos Gold. . . . . . . . . . . . . . 13 Altius Minerals. . . . . . . . . . . . . 7 Anglo American. . . . . . . . . . . . 5 Anglo Pacific Group. . . . . . . . 8 Antofagasta. . . . . . . . . . . . . . . . 7 Avalon Advanced Materials. . 9 Balmoral Resources. . . . . . . . 16 Barrick Gold. . . . . . . . . . . . . . . 3 Brixton Metals. . . . . . . . . . . . 11 Candente Copper. . . . . . . . . . . 8 CITIC Metal. . . . . . . . . . . . . . . 5 Coeur Mining. . . . . . . . . . . . . 6,7 Crystal Lake Mining. . . . . . . 11 Edison Cobalt. . . . . . . . . . . . . 11 Endeavour Silver. . . . . . . . . . . 7

Evrim Resources . . . . . . . . . . . 7 First Cobalt. . . . . . . . . . . . . . . 11 First Majestic Silver. . . . . . . . . 7 Freeport-McMoRan . . . . . . . . 5 Golden Ridge Resources. . . . . 3 Great Bear Resources . . . . . . 11 Guoxin International Investment. . . . . . . . . . . . . . . 5 Hudbay Minerals. . . . . . . . . . . 5 IDM Mining. . . . . . . . . . . . . . . 1 Imperial Metals . . . . . . . . . . . . 3 Labrador Iron Ore Royalty. . . 8 Largo Resources. . . . . . . . . . . . 8 McEwen Mining . . . . . . . . . . 14 MMG. . . . . . . . . . . . . . . . . . . . . 5 Newmont Mining . . . . . . . . . . 7

Northern Graphite. . . . . . . . . 15 Ontario Graphite. . . . . . . . . . 15 Orefinders Resources . . . . . . 11 Osisko Gold Royalties. . . . . . . 2 Panoro Minerals. . . . . . . . . . . . 5 Pretium Resources. . . . . . . . . . 2 Pure Gold Mining. . . . . . . . . . 9 Rio Tinto. . . . . . . . . . . . . . . . . . 8 RNC Minerals . . . . . . . . . . . . . 1 Rockhaven Resources. . . . . . . 6 Rubicon Minerals . . . . . . . . . 11 Sandstorm Gold Royalties. . 14 Strategic Metals . . . . . . . . . . . . 6 Tesla Motors. . . . . . . . . . . . . . 15 Zenyatta Ventures. . . . . . . . . 15

| An insider’s opinion

BY MARTIN VYDRA Special to The Northern Miner

H

istorically, whenever a commodity appreciates to all-time highs, pundits and naysayers are quick to forecast its eventual demise. Having tripled in value within two years, cobalt is now (once again I may add) being subjected to that same sentiment. However, despite the cobalt obituaries, there is an undeniable reality here: while battery manufacturers are indeed optimizing their chemistries, research suggests there simply isn’t an easy solution to eliminating cobalt from a lithium ion cell without a trade-off, such as performance or safety. Combine this with projected growth in other sectors that use cobalt (think jet engines and magnets that provide the electric motors for our new electric vehicles [EVs]) and forecasted demand for cobalt is as robust as it has been for many years, if ever.

While it’s true that cobalt’s meteoric rise has made everyone take a hard look at supply and demand fundamentals, we need to take a step back and realize that this is not the first time that cobalt has appreciated in value. Just 10 years ago, in 2008, cobalt hit US$50 per lb., thanks to the birth and rapid spread of the smartphone.

Despite its high price, cobalt was not engineered out of phone batteries nor did it curb our appetite for what has become the standard technology for personal communications across the globe.

In fact, while there were some attempts to lower its content in consumer electronics batteries, cobalt demand actually increased.

In 2008, the global cobalt supply and demand market was approximately 50,000 tonnes per year, with China not yet a significant player. At the time, a number of industry commentators were particularly vocal in their skepticism that cobalt supply could meet the demand created by cellphones, camcorders and laptop computers (collectively referred to as the three Cs). They predicted significant shortages and stressed the likelihood of cobalt eventually being sidelined. This was obviously not the case because in 2017, cobalt production surpassed 100,000 tonnes per year to keep pace with demand.

Current and future production is not capped at that 100,000-tonne mark. There are untapped resources and there is further room to increase production. However, it is important to note that cobalt supply is closely tied to copper and nickel production. To bring new sources of cobalt supply to the market will require economics that can support these operations and an acceptable return to the investor. If a resource is developed to bring cobalt production on, the incentive price for nickel or copper will have to support the investment because that is the economic driver.

The sentiment and approach to cobalt that took place with the smartphone explosion in 2008 may have similarities to the anticipated electric vehicle explosion. Given the cycle time that carmakers need to introduce products, combined with the supply-chain complexity in mass producing millions of cars,

industry indicators suggest it is highly unlikely and bordering on impossible that lithium ion batteries containing cobalt won’t be powering EVs for the next five to 10 years, at the very least.

Despite intentions to lower or eliminate cobalt from batteries, our research shows cobalt use in batteries is increasing. If one factors in all of the lithium iron phosphate batteries being phased out in favour of NMC cells, and the trend to increase battery pack size to meet range expectations, real cobalt consumption remains, even if cobalt content per battery is on the decline. Coupled with the fact that lithium ion cell-makers are investing billions of dollars to create cell capacity (specifically NMC formulation), we believe — despite daily media releases about new cobalt-free chemistries — that we can expect batteries containing cobalt to be the transportation workhorse, as internal combustion engines are phased out.

If we take a look at production costs, we see that the cathode of a lithium ion battery makes up 33% of the manufactured cost.

It’s important to note that despite its price, cobalt is not the sole driver of cathode cost. Industry insiders are more than happy to point the finger at expensive raw material costs for batteries because it is the easy target, given all of the discussion around its price appreciation. The reality is that companies are investing billions of dollars to bring on new cathode manufacturing capacity.

This capex impacts cathode pricing because investments must be recovered and investors need to see a return. So as manufacturers continue investment in new capacity, it is expected that their ability to lower the cost of the battery is limited. Blaming high costs on raw materials deflects from the entire story.

Additionally, the process for manufacturing metal cathodes for lithium ion batteries is still evolving. Cathodes are still made in a batch process because of the furnace time needed to alloy the materials for the cathode. Batch processing is not the preferred route of mass production if you want to reduce costs. When cathode manufacturing has time to mature (rather than expand at unprecedented rates), new and improved manufacturing may lower costs. Reducing battery costs by reducing raw material costs is only part of the equation. One just has to look at how much the cost of producing a kWh has dropped in the last 10 years, despite appreciation in the cobalt price.

There are reasons why cobalt has been the cathode material of choice for lithium ion batteries since Sony patented it in the 1990s. It is fairly abundant, has high energy density and is stable in the cathode matrix. In the early 2000s, as cobalt was identified as a potentially limited material, battery makers began pursuing mixed-metal cathodes.

However, cobalt has never been completely eliminated, and based on our research, we believe it will remain a component of lithium ion batteries into the next generation. While chemistries that increase nickel content are being pursued, high-nickel chemistry

GLOBAL MINING NEWS

batteries have shown greater susceptibility to thermal runaway and overheating (and by extension, have shown a higher risk of combusting).

That is where cobalt comes into play. It has been proven through intensive scientific and industry research to provide greater thermal stability.

Much has been written about the pursuit of a cobalt-free battery, and perhaps this will occur sometime in the future. Given the potential risks involved with battery combustion, we do not foresee automotive manufacturers accepting potentially elevated safety risks that may come with a new battery technology.

Tesla uses a chemistry of NCA which has seen cobalt content drop from 15% to 3% in a decade, and industry sources claim they are working on a 1.5% content battery.

However, many in the industry say this comes at a different cost.

The NCA battery has a higher energy density compared to NMC, however, performance indicators suggest it may also be prone to thermal runaway. To mitigate this potential risk, Tesla uses a sophisticated battery-management system to monitor and control each of the 1,000 or so cells, and measures the performance and temperature of each individual cell. According to Tesla, if a cell’s temperature approaches runaway limits, the system shuts down that cell. Although I am not familiar with all of the specifics, practically implementing such a sophisticated safety system could add expenses — hence why the new roadster is expected to cost US$250,000. There is software programming and management, and there are also the costs for the physical system itself (i.e., wiring, sensors, etc.)

History has proven that elegant systems may not always be the most economical to adopt in mass production if you want to lower costs. Simple usually turns out to be less expensive than sophisticated and elegant. That’s why, as the world’s major carmakers roll out lower-cost, mass-market EVs, Tesla may continue to be a niche player in the industry.

I would like to conclude by touching upon the holy grail of any industry, which is recycling.

There are a lot of companies that have recovered metals from spent batteries on a laboratory or pilot scale. The challenge is that largescale commercial operations with positive economics have yet to be established. Our research indicates there may be major costs and challenges around recovering valuable metals from spent electronics. In addition, the waste streams and final environmental impact of large-scale commercial recycling operations have yet to be determined. Research shows recycled materials may be two to three times more expensive to recover when compared to traditional resource exploitation to produce a finished metal. We believe recycling will become a factor when the economics of doing so make it viable, and not before.

We do not foresee cobalt falling out of favour in the EV industry for a long time. There may be many discoveries, and, of course, new chemistries, but industry is all too aware that the time from laboratory discovery to commercialization and mass adoption is usually much longer than estimated, as has been proven by Elon Musk himself, many times.

— Martin Vydra is head of strategy for Cobalt 27 Capital Corp., a battery metals streaming and royalty company offering direct exposure to cobalt and nickel, which are integral elements in key technologies of electric vehicles and energy storage systems. This edited commentary originally appeared as a blog post at www.cobalt27.com/blog.

THE NORTHERN MINER / SEPTERMBER 17–30, 2018

5

Panoro Minerals’ Antilla copper property in Peru’s Apurimac region, 140 km southwest of Cuzco. PANORO MINERALS

Panoro to drill new zone after expanding permit at Cotabambas COPPER

BY RICHARD QUARISA rquarisa@northernminer.com

N

ow that Peru has approved Panoro Minerals’ (TSXV: PML; US-OTC: POROF) request for an expanded environmental impact assessment at its Cotabambas copper project in southern Peru’s Apurimac region, the company can start drilling Cluster 2 — a target it has spent two years mapping, sampling and examining through geophysics.

“Late last year we decided we should start the process for expanding the environmental impact assessment,” Panoro president and CEO Luquman Shaheen says in an interview with The Northern Miner. “We started to come to the conclusion that the prospective nature of what we were uncovering warranted some drilling.”

The company plans to drill 2,000 metres at Cluster 2 by year-end, spending between $1 million and $2 million. It still needs to do more geophysical work before it begins, and says it will evaluate how to proceed next year based on this year’s program. The company is fully funded to complete the work.

That isn’t the only exploration it is doing in Cotabambas, however.

The company recently delineated 16 anomalies over three mineralization zones through its mapping and sampling program at the project’s Chaupec target The nine anomalies in zone one and four in zone two are hosted in skarn mineralization, with surface grades as high as 1.65% copper in zone one, and 0.59% copper in zone two. Zone three hosts its three anomalies in quartz monzonite porphyry mineralization that the company has sampled up to 0.67% copper.

The company is planning a geophysical survey for the north side of zone one that will include 21 km of magnetics, and intends to follow it up with a diamond-drill campaign.

While the company considers Cotabambas its focus, it tabled an updated preliminary economic assessment (PEA) for its Antilla copper project this May. The project is also located in southern Peru’s Apurimac region, 150 km from Cotabambas.

Although 150 km isn’t very far in the mining world, Shaheen says the two projects don’t have any “operational synergy.” They are separated by mountainous terrain, typical of the Peruvian Andes.

At a US$3.05 per lb. copper

| Tables PEA for nearby Antilla in southern Peru

price, Antilla has a US$305.4million, after-tax net present value at a 7.5% discount rate and a 25.9% after-tax internal rate of return.

The open-pit, heap-leach mine operation would process 20,000 tonnes per day, producing 46.3 million lb. payable copper per year over 17 years. The project would require a US$250.4-million initial capital expense.

Copper is valued at US$2.78 per lb. with a 52-week range of US$2.65 per lb. to US$3.29 per pound.

Antilla contains 291.8 million indicated tonnes grading 0.34% copper and 0.1% molybdenum, and 90.5 million inferred tonnes at 0.26% copper and 0.007% molybdenum.

Though it tabled Antilla’s technical report in June, the company continued running metallurgical tests that show potentially higher recoveries than Panoro included in the PEA. In the PEA, Panoro estimated 72.5% copper recoveries based on a series of bottle-roll tests.

“You take a sample of the ore, you crush it and grind it, you put it into a bottle and you put some acid solution in it,” Shaheen says.

“You roll it around, you take out the acid solution and you see how much of the copper that was in the rock is now in the solution. That gives you an estimate of recovery.

It’s a very preliminary estimate, suitable for the PEA.” The latest results come from more thorough column-leach tests that indicate the project could achieve 77% copper extractions.

Column-leach tests take much longer than bottle-roll tests. The company took a larger sample of ore, crushed and ground it, and put it in a tall plastic column.

Over several months, it tracked how much copper leached out the bottom. It ran four column tests. One is still going. Shaheen says the last column test could improve recoveries even more.

At the same time, the company is putting together the plan and budget for advancing Antilla into a feasibility and environmental study, including a 5,000-metre infill drill program. It isn’t funded for the work, however, and as a result is looking at strategic alternatives to progress the project.

“We would like to find a partner for the Antilla project, or another strategic arrangement that would fund the project.” Shaheen says.

“The Antilla project is a very good, economically robust mid-

scale copper project: it is what it is. And that’s why we’re looking to move Antilla into development on a faster timeline, but looking for strategic alternatives to advance it where we can remain focused on the growth potential at Cotabambas.”

Shaheen says the company could double the scale of Cotabambas.

It tabled a PEA for the project in 2015 outlining a US$683.9-million, after-tax net present value at a 7.5% discount rate and a 16.7% after-tax internal rate of return.

The project contains 117.1 million indicated tonnes grading 0.42% copper, 0.22 gram gold, 2.7 grams silver and 0.0013% molybdenum for 1.09 billion lb. copper, 860,000 oz. gold, 10.3 million oz. silver and 3.45 million lb. molybdenum.

The project also contains 605 million inferred tonnes at 0.31% copper, 0.17 gram gold, 2.3 grams silver and 0.0019% molybdenum for 4.16 billion lb. copper, 3.38 million oz. gold, 45.37 million oz. silver and 24.83 million lb. molybdenum.

Cotabambas sits 40 km north of the Las Bambas copper mine, operated by 62.5% owner MMG. Guoxin International Investment and CITIC Metal own the other 22.5% and 15%. The mine pro-

duced 453,749 tonnes copper in 2017.

MMG expects between 410,000 and 430,000 tonnes copper in 2018.

As a result, a heavy haul road connects Cotabambas to Las Bambas. Shaheen says road access from Cotabambas to the nearest port already exists and a railway runs through the region.

Antilla is 50 km from the national highway and 15 km from the nearest provincial road.

“Access is excellent because this region is the copper development epicentre of the worldwide copper mining sector,” Shaheen says.

He says miners have invested $20 billion in the south of Peru across mines like Hudbay Minerals’ (TSX: HBM; NYSE: HBM) Constancia and Freeport-McMoRan’s (NYSE: FCX) Cerro Verde. Recently, Anglo American (LON: AAL) approved development of its 60%-owned Quellaveco copper project.

“The key to our projects is their strategic location,” Shaheen says.

“They’re in southern Peru, where copper projects do get permits and they do get built.”

Shares of Panoro are trading at 26¢ within a 52-week range of 21¢ to 48¢. The company has a $65-million market capitalization. TNM

The Prospectors & Developers Association of Canada (PDAC), the leading voice of the mineral exploration and development community, is seeking an Executive Director to lead the Association and in support of PDAC’s mission to promote a globally responsible, vibrant and sustainable Canadian mineral exploration industry.

This exciting, high profile, Toronto-based role is the most senior staff role in the association. It will appeal to innovative, disciplined professionals who share PDAC’s passion to extend the benefits of our world-class exploration sector both inside Canada and to the global community. The successful candidate will have exceptional stakeholder management and relationship skills, be highly conversant with issues facing the extractive community and will bring a balanced blend of strategic and operating experience. Bilingual English / French is an asset.

FURTHER INFORMATION - including the Position Specification – can be found at www.pdac.ca/about-pdac/board-of-directors.

Applicants should forward their cover letter and resume to PDAC@kornferry.com. We thank all those who express interest in the position. Due to the high volume of applicants, only those with relevant, executive level experience, will be contacted.

6

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SEPTERMBER 17–30, 2018 / THE NORTHERN MINER

Rockhaven updates Klaza resource with higher grades GOLD

| 60% of overall gold ounces now in indicated category

BY RICHARD QUARISA

R

rquarisa@northernminer.com

ockhaven Resources (TSXV: RK; US-OTC: RKHNF) is pushing ahead at its Klaza gold project in the southern part of Yukon’s Dawson Range gold belt, updating metallurgy and resources, while trying to show the project’s potential.

“We’re kind of everything people are looking for in an exploration project,” company president and CEO Matt Turner said during a sitdown interview in Dawson, Yukon, at a conference in late June.

“It’s close to a town, close to the capital city of Whitehorse. It’s road accessible and it’s in a developed area.”

The 287 sq. km property is a threehour drive from Whitehorse. It’s 50 km west of the town of Carmacks — which has a population of 493 people — and accessible by taking the Klondike highway to a dirt road.

“The access road is government maintained year-round, up until the old mine site, which is 8 km away, because they’re doing reclamation,” Turner said.

As of April, the company had achieved 82% gold recoveries in the project’s Eastern BRX zone by using flotation and cyanide leaching. Previously the Eastern zone responded poorly to flotation test work, and the company didn’t include it in its 2016 preliminary economic assessment (PEA).

The company adds that three of the four main zones respond well to pre-concentration test work. Using dense media separation, the company more than doubled its average gold grades. Its recoveries now range from 87–98.2% gold.

“There is this stigma out there around the metallurgy,” Turner said, “but we’ve found a way that works and it’s conventional, and I think it’s just further educating people that we’ve figured it out.”

Due to the recently updated resource, the PEA is now out of date.

But the study found the project had an $86-million, after-tax net present value at a 5% discount rate and a 14% after-tax internal rate of return.

As of an update on June 5, 2018, the Klaza project contains 4.45 million indicated tonnes grading 4.8 grams gold, 98 grams silver, 0.7% lead and 0.9% zinc for 686,000 oz. gold, 14.07 million oz. silver, 73 million lb. lead and 92 million lb. zinc.

The project also has 5.7 million inferred tonnes at 2.8 grams gold, 76 grams silver, 0.6% lead and 0.7% zinc for 507,000 oz. gold, 13.9 mil-

www.mineshandbook.com

Looking southeast over placer operations on Rockhaven Resources’ Klaza gold property in the Yukon. ROCKHAVEN RESOURCES

lion oz. silver, 77.5 million lb. lead and 89 million lb. zinc.

About half of the overall resource is pit-constrained. The other half the company would have to mine using underground methods.

Nearly 60% of ounces are in the indicated category. The company infill-drilled in 2017 for $4 per oz. gold.

“I’d say on the Klaza resource area, in particular, we have a really good grasp,” Turner said. “The resource that we just put out confirms that as we go in and infill this, the grade is increasing. That comes back to structural continuity and grade continuity.”

The main property has 11 mineralized zones totalling more than a 10 km strike length, within a 4 by 3 km structural corridor.

All veins start at surface, and the company has found mineralization

as deep as 450 metres below surface.

However, it says its model suggests mineralization could extend to 1,000 metres’ depth or more. The system is open to the east.

Rockhaven has trenched 24,500 metres, completed airborne and ground surveys and sampled soil geochemistry on a project that, according to Turner, is “quite simple” from a geological perspective.

“You’ve got a mid-Cretaceous intrusion,” Turner says. “It’s very brittle, homogenous, so it’s broken quite well. And then you’ve got quartz-feldspar porphyry dikes that have come up into these faults, and then after you would have had the veins come in.”

Rockhaven’s drilling season typically lasts from the end of May to early October. Usually it will “hit it hard” from June until the end of August. That’s what it did last

year, drilling 16,000 metres over 98 holes in two and a half months, and finishing in August. In total, the company has drilled nearly 100,000 metres across more than 400 holes.

With more drilling, the company could upgrade the resource to a point where a prefeasibility or feasibility study is viable, but also drill step-out holes to expand the deposit.

“It always seems like — especially in this market — to really move the needle in a major way, a lot of it seems to be based on new discoveries,” Turner said.

“We want to keep adding value on the current resources, but I think you’ve got to throw some of those new discovery shots in, too. You’ve always got to give people that chance for the five- to 10-bagger, when they invest in these stories.”

The company found mineralized zones in 2017 outside of the main

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resource, including the Rusk target, a 2.6 sq. km soil geochemical anomaly lying a few kilometres south.

Shares of Rockhaven are trading at 14¢ with a 52-week range of 12¢ to 18¢. The company has a $21-million market capitalization and $600,000 in working capital. It owns 100% of Klaza, which has no royalties on resource areas.

Last year, Coeur Mining (NYSE: CDE) invested $2.7 million for 9.9% of the company. The investment helped fund last year’s drill campaign. Its biggest single shareholder is Strategic Metals (TSXV: SMD; US-OTC: SMDZF), which owns 39% of the company.

“This truly is where the market is right now,” Turner says. “You just have to stick to your guns and keep moving the project forward, and there’s going to come a point when the market catches up.” TNM

GLOBAL MINING NEWS

THE NORTHERN MINER / SEPTERMBER 17–30, 2018

7

Evrim Resources’ Cuale gold property in Mexico’s Jalisco state, 185 west of Guadalajara. EVRIM RESOURCES

Newmont invests in Evrim Resources

EXPLORATION

| Junior plans to use most of the funds to explore for gold in Mexico “OBVIOUSLY WE HAVE A GREAT WORKING RELATIONSHIP WITH [NEWMONT], BUT THEY DEMONSTRATED THEY REALLY WANTED TO BE INVOLVED IN THE COMPANY AND PROVIDE FUNDING TO SEE WHERE WE COULD GO WITH CUALE.”

BY TRISH SAYWELL

S

tsaywell@northernminer.com

hares of Evrim Resources (TSXV: EVM) surged 18.5% to $1.28 on news that Newmont Mining (NYSE: NEM) is acquiring 4.85 million shares of the company at $1.50 per share for a 5.2% stake.

It’s the first time Newmont has taken a position in the junior, although the two companies have worked together on generative exploration in North America for the last year, and had an earlier exploration alliance from 2012–2014 in the Trans-Mexican Volcanic Belt.

Eighty percent of the $7.27 million in proceeds from the Newmont private placement will be spent on Cuale, a high-sulphidation, epithermal gold project in Jalisco, Mexico.

The early-stage project is 185 km west of Guadalajara in the Cordillera Madre del Sur and a two-hour drive from the resort town of Puerto Vallarta.

Agnico Eagle Mines’ (TSX: AEM; NYSE: AEM) El Barqueno project is 50 km east of Cuale, and Endeavour Silver’s (TSX: EDR; NYSE: EXK) Terronera project is 50 km northeast.

Paddy Nicol, Evrim’s president and CEO, said the company signed confidentiality agreements and carried out site visits with seven companies, including Newmont.

“It came down to a matter of negotiations,” he says in a telephone interview from Vancouver. “Obviously we have a great working relationship with [Newmont], but they demonstrated they really wanted to be involved in the company and provide funding to see where we could go with Cuale, and for that they also got a right of first offer on the project, but there are no hooks or any sort of rights on the project specifically, other than the right of first offer.”

In addition to the right of first offer, Newmont will keep participation rights in any future equity financings to keep its pro-rate ownership interest. Under the investment agreement, the companies will collaborate through a joint technical committee to advance the project.

Evrim has nearly finished trenching, controlled-source audio frequency magnetotellurics geophysics, detailed mapping and rock-chip sampling, as well as a broad soil

PADDY NICOL PRESIDENT AND CEO, EVRIM RESOURCES

geochemical survey.

Permit applications for drilling have been submitted and Nicol expects to drill in October. Evrim would finish a 3,000-metre drill program on the property before year-end.

The business model at Evrim includes joint-venture exploration

THE PERFECT

GIFT

partnerships, and the company has seven with the likes of companies like First Majestic Silver (TSX: FR; NYSE: AG), Coeur Mining (NYSE: CDE) and Antofagasta (US-OTC: ANFGF). Under its exploration partnership looking for gold projects with Newmont in North America, Evrim and New-

mont co-fund a US$1.84-million exploration program through a 30–70% funding allocation.

Cuale is the only project Evrim wanted to drill and develop on its own.

In addition to the technical work Evrim did on the project, it also secured a five-year agreement with

the local community for access to the property. “That is a big deal,” Nicol says, “and we’re happy to have gotten that at this stage of the game … it puts both parties on an equal footing going forward, in terms of information exchange and transparency.”

Cuale is situated within the Talpa de Allende area of Jalisco and the project is subject to a 1.5% net smelter return royalty (NSR) for precious metals and 1% NSR for base metals payable to Altius Minerals (TSX: ALS).

Evrim has just over 79 million shares for a $100.9-million market capitalization.

Over the last year, it has traded within a low of 20¢ (December 2017) and a high of $1.70 (April 2017). TNM

The Art and Humour of John Kilburn Cartoons from A hilarious, 262-page anthology of mining cartoons by The Northern Miner’s resident cartoonist John Kilburn.

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With a foreword by Pierre Lassonde, cofounder and chairman of Franco-Nevada, an introduction

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SEPTERMBER 17–30, 2018 / THE NORTHERN MINER

Anglo Pacific Group records positive first half ROYALTIES

BY TRISH SAYWELL

A

tsaywell@northernminer.com

nglo Pacific Group (TSX: APY; LON: APF) has doubled its income over the last three years, and 2018 is shaping up to be yet another good year for the natural resources royalty company, says its chief financial officer, Kevin Flynn.

In the first six months of the year, Anglo Pacific reported adjusted earnings of £15.4 million (US$19.8 million), or 8.56 pence per share, which is up 15% year-on-year.

Total royalty and financing income in the first half reached £20.8 million, up 20% from the first half of 2017.

The company also completed two acquisitions this year, bringing its principal royalty portfolio to fourteen.

In August, Anglo Pacific unveiled a US$50-million investment for a 4.25% shareholding in Labrador Iron Ore Royalty (TSX: LIF), after the US$1-million acquisition of a 0.5% net smelter return royalty (NSR) on Candente Copper’s (TSX: DNT) Canariaco project in Peru.

Labrador Iron Ore Royalty Co. (LIORC) holds a 15.1% equity position in Iron Ore Co. of Canada (IOC) and receives a 7% gross overriding royalty, and 10¢-per-tonne commission on all iron ore products produced, sold and shipped by IOC. The IOC is a leading Canadian producer of iron ore pellets and concentrate and has a 25-year mine life ahead, as well as potential for mine-life extensions.

Anglo Pacific expects its 4.5% stake in LIORC will bring between $4.7 million and $5.7 million of royalty-related revenue in 2019.

The addition of LIORC lowers Anglo Pacific’s exposure to coking coal from 46% to 42%, and trims its

| Company made more acquisitions before year-end

exposure to Australia from 70% to 64%, while increasing its exposure to North America from 18% to 26%.

Its largest share of income comes from its cornerstone royalty on Kestrel, an underground coal mine in Queensland operated by Rio Tinto (NYSE: RIO; LON: RIO).

“The main strategic objective of our investment in LIORC was obviously to build a diversified royalty portfolio,” Flynn tells The Northern Miner in an interview. “In the past we’ve been very concentrated on Kestrel, so we’ve been working very hard over the last couple of years to diversify our exposure away from coking coal, and we see the acquisition of a 4.2% stake in LIORC representing a very good step in that journey.”

Flynn notes that LIORC was also attractive due to its high-quality products (its pellets are low in alumina, silica and phosphorous), which generally command a premium price, its location in a safe jurisdiction, and the quality of its operators. Rio Tinto owns a majority stake in the IOC. Flynn also pointed to waning supply in China, which is cutting back production on environmental and corporate social responsibility grounds.

As for its new royalty on Candente’s Canariaco project, Flynn says, it meets its goal of investing smaller amounts of money into “development royalties, which have the potential for much higher returns.”

He adds that “this project has the potential to become a very large copper operation over the years, and offer much higher returns than what we would normally expect to be able to obtain for income-producing royalties.”

Flynn says he anticipates strong financial results.

“The outlook for the second half

of the year continues to look very positive,” he says. “We expect higher volumes from the Kestrel royalty and our Maracas vanadium royalty, which combined with an everimproving price outlook bodes well for the second half of the year, so we would expect to report another year of growth to build on the progress of the last three years.”

The company also says that Kestrel will produce higher volumes. In August, a joint venture made up of EMR Capital (a private equity resource manager in Australia) and Adaro (one of the largest coal producers in the world), acquired the mine from Rio Tinto and said they plan to double production there over the next two to three years.

As for its 2% NSR on all products from Largo Resources’ (TSX: LGO) Maracas Menchen vanadium mine in Brazil, Maracas was Anglo Pacific’s standout performer in the first half of the year, with revenues up 12.9% year-on-year, and Flynn expects even bigger things from that contributor.

“We’re pleased that in the first half of the year the contribution from Maracas exceeded 10% of our overall income,” he says. “Income increased by 170% from Maracas — that exceeds the entire income from 2017, so looking ahead to the full year, we’re already ahead of where we were last year, just from that one mine.”

Flynn also notes that Anglo Pacific plans to make more acquisitions before the year is out.

“We drew down on our facility and used cash-on-hand to finance our LIORC stake, and we will return to a net cash position by the end of the year, which obviously gives us plenty of liquidity,” he says. TNM Pit operations in 2016 at Largo Resources’ Maracas Menchen vanadium mine in Brazil, where Anglo Pacific Group holds a 2% NSR. PHOTO BY THE NORTHERN MINER

RNC finds multimillion-dollar gold nuggets at Beta Hunt RNC MINERALS From 1

is no longer in exclusive discussions with the preferred bidder.

“This discovery and additional cash helps on multiple fronts, transforms our balance sheet and takes away any cash flow pressure,” Selby said. “We’ll have generated significant cash flow this quarter from this high-grade material and it’s still open in a number of directions. The key thing is, we’re going to spend some time probing along the structure to try to understand how much gold is there, and from there, craft a go-forward plan … as we look for alternatives like selling it, or spinning it out, and getting cash Beta Hunt needs for exploration.”

The mine, 600 km from Perth in Kambalda, hosts nickel and gold resources in adjacent discrete mineralized zones. Gold mineralization occurs in the Lunnon Basalt, which is the footwall to the nickel-bearing ultramafics, and is characterized by intense albite, carbonate and chlorite alteration, with a halo of biotite-pyrite alteration. (The nickel is hosted mainly by talc-carbonate and serpentine-altered ultramafic rocks, and is typically pyrrhotitepentlandite-pyrite-chalcopyrite.)

RNC says it is the first owner to focus on drilling deeper in the Lunnon Basalt in its search for gold, and the first owner to discover and mine gold from new coarse gold entirely

RNC Minerals personnel behind high-grade gold specimens from the Beta Hunt mine in Australia. From left: geologist Lachlan Kenna, air-leg miner Henry Dole, mine foreman Warren Edwards and senior geologist Zaf Thanos. PHOTO BY ABC GOLDFIELDS-ESPERANCE JARROD LUCAS

within the Lunnon Basalt. Previous bonanza grades at Beta Hunt were associated with the nickel- and sulphide-bearing contact between the Lunnon Basalt and the overlying Kambalda Komatiite, where RNC and previous operators focused on

nickel mining.

Based on diamond drilling and underground mapping, there are two or more Lunnon sediment bands on a zone of narrow (less than 0.3 metre), strongly pyritic black shale horizons, 150 metres

stratigraphically below the Lunnon Basalt-Kambalda Komatiite nickel contact.

The sediment horizon is interpreted by geologists as a zone of chemical interaction between the gold-bearing f luids and pyritic

sulphides, which under the right conditions, allow large gold-crystal growth and high-grade gold deposition.

Kevin Small, RNC’s director of mining operations, noted on the conference call that there were other “spectacular” rock specimens that did not make it into the latest press release that are being stored for future sale.

“In four days, we’ve proved two months average gold production, which is fairly significant,” he said.

“Is the gold continuous?” Small mused. “Only time will tell … but we’re definitely very excited about what’s going on in the structure, and we’re just in the infancy of discovering this mineralization. So we have years and years of mining to see how deep these structures go, and what is the economic value of them.

“The grades are increasing with depth,” he added. “Potentially it’s a one-off, but mother nature has a number of surprises, and this is definitely one of them.”

Beta Hunt produced 13,320 gold oz. in the second quarter of the year — a 60% increase from the same quarter in 2017.

The mined grade for the quarter improved to 3.14 grams gold per tonne, including the specimen gold mining on level 15, which contributed 1,445 oz. production for the quarter. TNM

SPECIAL FOCUS

ONTARIO Goldcorp’s Hollinger open-pit gold mine in Timmins, Ontario. GOLDCORP

Avalon discovers lithium pegmatite

EXPLORATION

| Channel sampling pays off at advanced project near Kenora

Pure Gold on track to build Ontario’s next gold mine DEVELOPMENT

| Drilling continues to yield highgrade intercepts

BY TRISH SAYWELL

P

tsaywell@northernminer.com

ure Gold Mining (TSXV: PGM) is on its way to finishing a definitive feasibility study (DFS) of its Madsen gold project in Ontario’s Red Lake district.

Madsen is one of the highestgrade, undeveloped gold deposits in the world, and muck samples reported in July from the first seven rounds of blasted material averaged 18.8 grams gold per tonne.

The company has started test mining within the first of two planned stopes from the McVeigh zone and plans to extract 7,200 tonnes of mineralized material before the end of September to support a DFS, which it expects to finish in the fourth quarter of the year.

The project in the Red Lake district hosts two past-producing mines, including Madsen, which together produced 2.5 million oz. gold over 36 years. As a result, the project already has a 1,275-metredeep shaft and head frame, 27 levels of underground workings, a portal

Senior geologist Chris Pedersen in a core shack at Avalon Advanced Materials’ Separation Rapids lithium project near Kenora, Ontario.

BY TRISH SAYWELL tsaywell@northernminer.com

A

new lit hiu m peg mat ite Avalon Advanced Materials (TSX: AVL; US-OTC: AVLNF) is naming Snowbank has been found 4 km northwest of the company’s main Separation Rapids lithium deposit, near Kenora, Ontario.

Like the Separation Rapids deposit, Snowbank’s lithium occurs mostly in petalite, a mineral that occurs as large crystals up to 15 centimetres in diameter.

Individual channel samples at Snowbank have returned assays of up to 2.51% lithium oxide (Li 2O) over 1.1 metres, which the company says shows that petalite makes up 50% of the mineral content in the rock sample. Visible petalite occurs for 100 metres.

The Snowbank pegmatite zone runs up to nine metres wide, but pinches and swells, with some sections splitting into smaller, parallel dikes that measure from one to three metres wide, for an average width of 6 metres over the 100-metre-long exposure.

Snowbank’s individual dikes exhibit classic pegmatite zoning, with coarse petalite, potassium feldspar, albite and quartz, flanked by narrow albitic border and wall zones.

Three channel samples collected from the petalite mineralized sections of the main pegmatite zone averaged 1.40% lithium oxide, while three other parallel dikes, also sampled, locally host similar mineralization over narrower widths.

AVALON ADVANCED MATERIALS

See PURE GOLD / 12

AVALON PLANS TO LEVERAGE THE PURE AND UNIQUE CRYSTAL STRUCTURE AT SEPARATION RAPIDS TO PRODUCE ‘SUPER-PETALITE,’ WHICH HAS ATTRACTED INTEREST FROM CONSUMERS IN THE GLASS INDUSTRY. Highlights include lithium values of 1.53% Li 2O over 2.6 metres in channel 1A; 1.61% Li 2 O over 2.3 metres in channel 2B; and 1.07% Li2O over 2.9 metres in channel 4A. The three channels are distributed over a strike length of just over 30 metres, with spacing averaging 10 metres in one discrete, pegmatite dike.

Avalon plans to drill Snowbank during late 2019.

The Snowbank discovery follows an August PEA on Avalon’s main Separation Rapids project, 70 km north of Kenora.

The updated PEA is smaller in scope than the previous PEA completed in 2016, and focuses on early production of lithium mineral concentrates, with potential for expansion into producing the battery materials lithium carbonate and lithium hydroxide.

The study envisioned a plant t h rou g hput r at e of 475, 0 0 0 tonnes per year compared to the 950,000-tonne-per-year rate from the 2016 PEA. This will result in a 20-year operating life, based on the deposit’s known resources.

The PEA outlined annual production of 71,500 tonnes of petalite concentrate; 11,800 tonnes of lepidolite concentrate (both for 18.5

years); and, starting in year six, 100,000 tonnes of feldspar (through to year 20).

About $77.7 million in upfront capital would help build the project, with another $13.7 million planned for the feldspar circuit in years five and six (or after paying back the initial capital).

The PEA estimated average annual revenue of $90 million, compared with average annual costs of $60 million, resulting in a post-tax net present value at an 8% discount rate of $102 million and 22.7% after-tax internal rate of return.

Separation Rapids remains open at depth and has measured and indicated resources of 8.41 million tonnes averaging 1.41% Li 2O and inferred resources of 1.79 million tonnes of 1.35% Li 2O. Avalon notes that while much of the demand and long-term growth prospects for lithium supply revolve around the rechargeable battery industry, lithium is also a critical ingredient in many other things — such as glass and ceramics — which now have to compete for supply with battery makers.

Petalite, the primary lithium mineral at Separation Rapids, is suitable See AVALON / 10

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The surface of Avalon Advanced Materials’ Separation Rapids lithium deposit in northern Ontario. AVALON ADVANCED MATERIALS

Avalon discovers lithium pegmatite AVALON From 9

for many of these applications as an industrial mineral because of its purity and unique crystal structure, Avalon says, adding that recent test work has “demonstrated that

a high-purity petalite product can be produced from the Separation Rapids resource.

“This product, called ‘super petalite,’ has attracted considerable interest from consumers in the glass and ceramics industry, leading to the

conclusion that petalite concentrates should be the initial focus of production from Separation Rapids,” the company said in its August news release. “Discussions toward concluding off-take agreements with major consumers of this product

This announcement appears as a matter of record only.

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in the glass industry are now at an advanced stage.”

Petalite production will be supplemented with the production of a second lithium mineral concentrate: lepidolite. Lepidolite is a lithium mineral that is in growing demand for conversion to lithium carbonate, and Avalon has a preliminary offtake agreement with Lepidico, an Australian company in Perth, that plans to develop a lithium carbonate demonstration production facility in Sudbury, Ontario.

But Avalon isn’t ruling out converting petalite concentrate into lithium hydroxide for the battery and energy-storage industries. That scenario, presented in its 2016 PEA, is an opportunity as the company delineates more resources, it says.

“Development into these markets would start with the addition of a pilot-scale lithium hydroxide production circuit at the mine site to produce trial quantities of the battery material product, and prove the innovative process flowsheet developed by the company in 2016,” the company says.

Avalon’s next step is to start a short pilot program to finalize reagent recycling and water treatment processes and complete a feasibility study. That work will likely take place later this year, after the company

AVALON PLANS TO START PERMITTING LATER THIS YEAR, ONCE IT HAS ENGINEERING DATA AND PROJECT FINANCING. concludes off-take agreements and secures more financing.

Drilling is also planned to convert more inferred resources into the measured and indicated category, and to explore for new lithium pegmatites, particularly on the western extension of its property, where it has found new petalite occurrences, including the Glitter pegmatite, 2 km from Snowbank.

Avalon plans to start permitting later this year, once it has engineering data and project financing.

Avalon is also working with Hydro One to figure out the optimal route to deliver hydroelectric power to the site from one of the nearby dams on the English River.

The claims are in the traditional territory of the Wabaseemoong Independent Nation of Whitedog, Ontario. TNM

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ONTARIO

GLOBAL MINING NEWS

THE NORTHERN MINER / SEPTERMBER 17–30, 2018

ONTARIO SNAPSHOT

Seven junior developers advancing properties While Ontario remains the largest mineral producer in Canada, there remains a lively junior exploration and development scene across a wide variety of targets including gold, silver, cobalt and diamonds.

The following is a look at seven junior mining companies active across the province.

BRIXTON METALS Vancouver-headquartered Brixton Metals (TSXV: BBB; US-OTC: BXTMF) is an exploration and development company focused on advancing its wholly owned gold and silver projects, which include four substantial properties: the pastproducing Langis and Hudson Bay silver-cobalt mines in Ontario’s historic Cobalt camp; the advanced stage Hog Heaven polymetallic project in Montana; the districtscale Thorn gold-silver-copper project in B.C.; and the early-stage Atlin gold project in northwestern British Columbia.

Brixton’s work at Langis took an unexpected turn in August with the discovery of significant kimberlite intercepts and a small, clear diamond fragment in core while targeting cobalt-nickel-silver mineralization in shallow Archean rocks.

“We are very intrigued by this discovery,” Brixton chairman and CEO Gary R. Thompson stated. “The fact that we recovered a diamond fragment given that the kimberlite sample size was very small is an exciting discovery. The kimberlite in hole 36 to hole 37 is 149 metres apart, and the distance of the kimberlite from hole 37 to the kimberlite in hole 34 is 515 metres.

This has piqued our interest as to whether a very large kimberlite pipe or a series of pipes exists.”

As late as July, Brixton had been looking to spin out its cobalt assets to focus on precious metals, but this subsequent diamond discovery may have paused this strategy for now.

of Lightfoot Geoscience.

EDISON COBALT Edison Cobalt (TSXV: EDDY; USOTC: PWMRF) is the new name for Vancouver-based Power Americas Minerals, which is focused on the procurement, exploration, and development of cobalt and other energy metals in North and South America.

Edison Cobalt’s flagship is the Kittson cobalt project near the town of Cobalt, Ont., and hosts the historic Thomas Edison, Shakt-Davis and Cobalt-Kittson mines, as well as numerous historic workings, the deepest extending down to 191 metres, and over 762 metres of lateral workings.

The Thomas Edison mine was developed by the eponymous American inventor and entrepreneur.

company in the world, and aims to create the world’s “largest pure-play cobalt exploration and development company.”

Only a year and a half old, First Cobalt has already accumulated over 100 sq. km of prospective ground in Ontario’s iconic Cobalt camp, with the company’s Greater Cobalt project comprising land that includes over 50 pastproducing mines, a mill and the only permitted cobalt refinery in North America that makes battery materials.

In June, First Cobalt outlined a $9-million work program for its new Iron Creek cobalt-copper project in Idaho, where it intends to calculate a resource estimate

by October 2018, and complete another 30,000 metres of drilling to double the mineralized zone along strike beyond the area drilled in 2017.

Edison Cobalt describes cobalt mineralization as occurring in Proterozoic-aged, quartz-carbonate veins hosted in brittle shears in Nipissing diabase, with this style of mineralization being similar to that of the famed Cobalt Silver Camp located 15 km east of the property.

The historic resource at Iron Creek is 1.2 million tonnes grading 0.59% cobalt.

The junior says historic reports from the Shakt-Davis mine indicate values of 1.5% cobalt over 1.37 metres and grab samples returning up to 4% cobalt and 93.3 grams gold per tonne. Locally significant nickel, copper, and to a lesser extent, lead, zinc and bismuth also occur within the quartz-carbonate veins.

The company says it has begun a consultation process at Iron Creek and started collecting baseline data for future permitting.

FIRST COBALT Trent Mell-led First Cobalt (TSXV: FCC; US-OTC: FTSSF) describes itself as the largest cobalt exploration

In early September, First Cobalt acquired 100% ownership of the Iron Creek property and eliminated an outstanding royalty.

GREAT BEAR RESOURCES Chris Taylor-led gold junior Great Bear Resources (TSXV: GBR; USOTC: GTBDF) — part of Vancouver’s Discovery Group of companies — closed out August by lining up a potential $10-million private placement, highlighted by gold mining executive Rob McEwen personally investing $4.8 million,

and McEwen Mining chipping in $1.2 million of the total.

The placement will be priced at $1.45 per unit, with each unit to consist of a share and half a warrant, with each whole warrant exercisable into a share at $1.75 within two years.

Upon closing, Rob McEwen and McEwen Mining could collectively own 18.8% of Great Bear.

The junior says it will now be funded to achieve “significant milestones” at its Dixie high-grade gold project in Ontario’s Red Lake camp.

“I’m excited to join the Great Bear team in the development of what I believe could be a significant new gold discovery in the Red Lake camp,” Rob McEwen said in a release. “Their technical work is excellent and I’m delighted to join forces with them to further unlock, once again, the riches of the worldclass Red Lake gold camp.”

The Dixie property covers a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district. The project has seen over 200 drill holes to date and has yielded high-grade, nearsurface gold results from several gold zones hosted at an extensive mineralized geological contact — the Dixie Limb Zone.

OREFINDERS RESOURCES Toronto-based Orefinders Resources (TSXV: ORX) is focused on developing gold assets in eastern Canada’s Abitibi district, including its McGarry mine, Mirado and Knight projects in Ontario.

The Stephen Stewart-led junior has several criteria for acquiring and retaining assets: they are ideally advanced stage, former production gold assets in the Abitibi; there are existing resources, with significant work already completed; there is easy access to infrastructure; and there has been past production, but are open to new geological interpretations.

In May 2018, Orefinders shareholders voted to spin out and publicly list a battery mineralsfocused junior, to be named “Power One.” RUBICON MINERALS Based in Toronto and led by president and CEO George Ogilvie, gold developer Rubicon Minerals (TSXV: RMX) is looking to be one of the better comeback stories in Canadian mining, with the redevelopment of its Phoenix gold project in Ontario’s Red Lake camp.

The project was the site of a spectacular crash and burn in 2015, when a misunderstood geological model led to a resource downgrade, a shutdown in trial mining and a collapse in share price.

Since then, Rubicon had a 28,500-metre drill campaign and 10,000-metre core relogging program in 2017 that led to a far more credible resource estimate in 2018.

This year, Rubicon has budgeted for up to 14,000 metres of drilling and aims to complete a new feasibility study, carry out testmining, and then, if warranted, advance Phoenix to commercial production.

The mill at Phoenix is configured and permitted to process 1,250 tonnes per day. Rubicon anticipates operating the mill between 700 to 1,000 tonnes per day, and will clean it out after processing bulk-sample material. Rubicon anticipates mill start-up in mid-2018. TNM

CRYSTAL LAKE MINING Vancouver-based junior Crystal Lake Mining (TSXV: CLM; US-OTC: SIOCF) is looking to advance its Nicobat nickel-cobalt project near Emo in northwestern Ontario, 35 km from New Gold’s Rainy River mine.

To that end, Crystal Lake closed a $1-million financing in May 2018, with each unit of the private placement consisting of a share and one full warrant that allows the holder to buy another share at 70¢ within two years.

Crystal Lake says the project has several highlights: the historic mineral zone Nico1 has yet to be tested at depth; the nickel “tenor” (metal content in 100% sulphide) is estimated at between 3% and 4%; Crystal Lake’s last drill hole in late 2015 cut high-grade nickel-copper; it is an “ideal geological setting” for a nickel-copper-cobalt-platinumpalladium massive sulphide discovery in an under-explored region; the overall land package is “highly prospective with multiple target areas”; and there is “excellent infrastructure,” with roads, rail and power all present.

The company says it is wellpositioned through Emerald Lake, its geological contractor, to undertake a program this year using a team of explorers from Ronacher McKenzie Geoscience Inc., backed by the magmatic sulphide expertise

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Pure Gold on track to build Ontario’s next gold mine PURE GOLD From 9

and ramp that are open and active for exploration, and a mill and tailings facility, with an existing environmental compliance approval that allows for the operation of a 1,089-tonne-per-day milling and processing facility.

A preliminary economic assessment (PEA) last year projected 910,000 oz. gold could be produced over a 14-year mine life. Pre-production construction would take a year, with an initial capital investment of $51 million. The PEA presented a $258-million after-tax net present value at a 5% discount rate and a 47% internal rate of return, for a payback period of just under three years.

In December, the company updated Madsen’s resource estimate to 1.74 million oz. gold in 6.24 million indicated tonnes grading 8.7 grams gold and 296,000 inferred oz. gold in 1.16 million tonnes averaging 7.9 grams gold. Both resource categories used a cut-off grade of 4 grams gold.

The resource estimate incorporates two new satellite deposits: Russet South and Fork, which are close to the Madsen mill complex.

In January, Pure Gold came across the Wedge satellite deposit, 3 km south of the mill. “The discovery of Wedge is a direct result of the application of a new geologic understanding that was developed while targeting and expanding the Madsen mineral resource,â€? Darin Labrenz, the company’s president and CEO, told The Northern Miner via email. “Wedge is an important component of the company’s growth strategy. It is exposed at surface and has been successfully targeted to a depth of 500 vertical metres ‌ the ability to potentially mine from satellite zones allows us greater mine flexibility, potentially higher throughput and has the potential to impact the future production profile of the Madsen mine complex.â€?

In May, the company said it plans to drill another 21,000 metres this year.

The historic head frame at Pure Gold Mining’s Madsen gold property in Red Lake, Ontario.   PURE GOLD MINING

“Continued exploration drilling at Wedge, Fork and Russet has been successful, and is expected to provide potential expansion and project scalability opportunities at Madsen,� Labrenz said.

In August it released assays from Wedge. Drill hole 18-600 returned 32.9 grams gold over 1.7 metres from 400 metres downhole, and drill hole 18-616 cut 23.1 grams gold over 2 metres from 133 metres downhole.

Overall, the company says, drilling at Wedge has intersected min-

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eralized zones to 500 metres’ depth and across 1,100 metres of strike.

It says that the mineralization at Wedge forms part of a series of genetically and geometrically related high-grade zones that span a 5 km structural corridor from Madsen to Wedge, and Wedge forms the southward extension of the same mineral system that hosts the Fork deposit, too.

Wedge sits in the footwall of the old Starratt-Olsen mine, which was not included in the 2017 assessment. “Earlier exploration by Pure Gold demonstrated potential for mineralization at Starratt-Olsen to persist to depth, but further work is required,�

Labrenz says.

Drill results from Wedge, Russet South and Fork will be incorporated into the company’s next resource update before year-end, but will not be included in the upcoming feasibility study. (There are numerous zones that will form part of the mine plan, which historically have been referred to as the Austen, South Austin, McVeigh and 8 Zone,

“OUR GEOLOGIC MODEL HAS UNEQUIVOCALLY LINKED MULTIPLERELATED ZONES INTO A COMMON MINERAL SYSTEM.�

DARIN LABRENZ PRESIDENT AND CEO, PURE GOLD MINING

Labrenz says.)

The satellite deposits all outcrop and are within 1 to 3 km of the mill infrastructure. Russet South and Fork are both 1.5 km from the Madsen mill, while the Wedge zone is just south of Fork. “Our geologic model has unequivocally linked multiple-related zones into a common mineral system,�

Labrenz said. “The recognition of this important structural relationship has opened up expansive gaps along strike and down-plunge that are highly prospective for continued resource growth, supporting our goal of establishing a new multimillion-ounce mine complex at

Madsen.�

The company is fully funded for the DFS, remaining mining and processing permit updates, extracting a 7,200-tonne bulk sample and 21,000 metres of exploration drilling beyond the feasibility study, Labrenz says.

Pure Gold has no debt, and as of August had working capital of $15.6 million.

The company’s shares are trading at 56¢ within a 52-week range of 46¢ to 71¢ per share. The company has 236 million shares outstanding for a $132-million market capitalization. TMN

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THE NORTHERN MINER / SEPTERMBER 17–30, 2018

13

Alamos Gold’ Island Gold gold mine in northern Ontario. ALAMOS GOLD

Alamos boosts Island Gold’s reserves, grades GOLD

BY TRISH SAYWELL tsaywell@northernminer.com

After incorporating 65,600 metres of exploration drilling in the first half of the year, Alamos Gold (TSX: AGI; NYSE: AGI) has increased the reserves and resources at its Island Gold mine in northern Ontario.

Proven and probable reserves now total 2.8 million tonnes grading 10.69 grams gold per tonne, or 959,000 contained oz. gold. The reserve grade has climbed 5% since the end of 2017.

Measured and indicated resources have risen to 841,000 tonnes at 8.18 grams gold for 221,000 oz. gold and a 40% rise in grade.

Another 3.7 million tonnes at 9.99 grams gold, or 1.18 million oz. gold, lie in the inferred category, or a 30% rise since year-end 2017.

Alamos is planning another 84,000 metres of surface and underground exploration and delineation drilling in the second half of 2018.

“After adjusting for the updated reserve and resource at Island, our net asset value per share increases to $9.27, from $9.07,” Ryan Hanley, an analyst at Laurentian Bank Securities, said in a research note to clients. “More importantly, this reinforces our thesis that the Island Gold mine offers excellent exploration potential.”

The Island Gold mine, 83 km northeast of Wawa, is one of Canada’s highest-grade and lowest-cost gold mines.

The underground operation could produce between 100,000 and 110,000 oz. gold this year at all-in sustaining costs (AISCs) of US$825 per oz. gold.

The mine began producing in October 2007 and Alamos acquired it in November 2017, when it bought Richmont Mines.

The orebody is accessed via a ramp nd the company uses longitudinalretreat, long-hole stoping. Ore is hauled by truck to the Kremzar

| Miner plans to complete another 84,000 metres of drilling in H2

mill, 800 metres from the portal.

The mill uses a conventional carbon-in-pulp process, with circuits for crushing, gold cyanidation and two electrowinning cells.

Island Gold is undergoing a first phase of expansion of underground mining and milling to 1,100 tonnes per day, as outlined in a May 2017 expansion case preliminary economic assessment (PEA). The expansion could be ready in the second half of this year for incremental capital expenses of $23 million.

The expansion could drive free cash flow growth, reflecting an increase in average annual production rates to 125,000 oz. gold and lower

mine-site AISCs to US$550 per oz., starting in 2019.

The PEA aimed to find the most cost-effective approach to mining mineral resources within the main area over four mining horizons, and down to a maximum depth of 1,000 metres, using existing mine infrastructure.

In addition, Alamos says there is “significant exploration potential with the deposit open laterally and at depth,” and has set aside $18 million for exploration this year.

The focus of the drill program will be to expand the down-plunge and lateral extensions of the deposit and add near-mine resources. The

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drilling targets three areas along the 2 km long main zone.

As for Island Gold’s geology and mineralization, the property lies within the Michipicoten greenstone belt, which is part of the Wawa subprovince and Superior province of Archean age.

The Michipicoten greenstone belt is 140 km long by 45 km wide, and the Island Gold property occurs in the upper Wawa Assemblage, capped by pyrite-bearing iron formation outcropping in the Morrison and Pine zones.

A 30 km long and 4.5 km wide northeast-trending, structurally deformed zone called the Goudreau

Lake Deformation Zone (GLDZ) comes between the two assemblages.

Including its subsidiary splays, the GLDZ could be the main control on gold mineralization for the area. East- to northeast-striking, steeply dipping, sub-parallel gold mineralization zones appear within the quartz sericite-pyrite-carbonate alteration of the GLDZ. Northtrending diabase dikes cross-cut all stratigraphy.

At press time, Alamos was trading at $5.66 per share within a 52-week trading range of $5.41 to $10.44.

Hanley of Laurentian Bank has a $9 target price on the stock and a “buy” rating. TNM

14

SEPTERMBER 17–30, 2018 / THE NORTHERN MINER

ONTARIO

WWW.NORTHERNMINER.COM

McEwen Mining’s Black Fox complex in Timmins, Ontario. MCEWEN MINING

McEwen bolsters Black Fox with new resources GOLD

BY RICHARD QUARISA rquarisa@northernminer.com

M

cEwen Mining (TSX: MUX; NYSE: MUX) has tabled a maiden resource for its Stock East gold deposit and an updated resource for its Froome gold deposit to go with numerous positive results from its ongoing $15-million exploration campaign at its Black Fox complex in Timmins, Ontario.

The company has drilled 80,000 metres so far at Black Fox in 2018 of a planned 100,000 metres by year-end.

“Very little exploration has gone on in a regional sense at Black Fox,”

| Company to drill 20,000 more metres by year-end Black Fox exploration manager Ken east of the historic underground Tylee says during a presentation Stock mine and part of the same 2 “COMPARED TO OTHER HISTORIC CAMPS at McEwen’s September Investor km mineralized trend. According LIKE KIRKLAND LAKE, WE’RE REALLY JUST and Analyst day. “Most camps in to the company, the mine produced SCRATCHING THE SURFACE AT BLACK eastern Canada have a very short 137,000 oz. gold at 5.5 grams gold. strike length but are very deep.

McEwen initially drilled the prop- FOX.” Compared to other historic camps like Kirkland Lake, we’re really just scratching the surface at Black Fox.” Stock East’s first resource outlines 1.38 million inferred tonnes grading 2.54 grams gold per tonne for 114,000 oz. gold across an open-pit and underground mine. It classifies 73,000 oz. gold as underground.

The Stock East property covers 6.5 km of the Destor-Porcupine fault.

The Stock East deposit is 700 metres

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erty in February 2018, but began a follow-up program in June that is still ongoing. Highlights from the current program include 9.6 metres from 336 metres downhole at 5.76 grams gold, as well as 14 metres from 238 metres downhole grading 0.81 gram gold.

The company is also drilling the Stock mine and a third target called the Gap zone. It has drilled four holes to test mineralization beneath historic mine workings that extend as much as 700 metres below surface. It has drilled another 11 holes 400 metres east of the mine in the Gap zone. Both the mine and the Gap zone have received little past drilling.

Highlights from the Stock mine and Gap zone include 22.15 grams gold over 1.4 metres from 333 metres downhole and 0.78 gram gold over 26 metres from 125 metres downhole.

Less than 30 km east of Stock lies the Black Fox deposits: Froome, containing 941,000 indicated tonnes at 5.26 grams gold for 159,000 oz. gold; Grey Fox, containing 2.1 million indicated tonnes at 6.64 grams gold for 465,000 oz. gold; and Black Fox, containing 2.2 million indicated tonnes grading 7.9 grams gold for 576,000 oz. gold.

As Black Fox business manager Chris Price puts it, “there’s a huge opportunity at Black Fox for simply converting indicated resources to reserves.”

The fourth deposit, Tamarack, is a bit of a special case. It’s the only Black Fox deposit that also contains base metals, with a resource of 778,000 indicated tonnes grading 1.83 grams gold, 26 grams silver, 1.08% lead and 3.29% zinc for 127,000 oz. gold equivalent.

Tylee says although the project was discovered in 2004, “previous operators didn’t have the metallurgical confidence to deal with this.

“Metallurgical results are starting to come in now, and it really shows it’s amenable to extraction,” Tylee adds.

At Froome, McEwen recently increased the indicated resource by 14%. The deposit now contains 1.1

KEN TYLEE BLACK FOX EXPLORATION MANAGER, MCEWEN MINING

million indicated tonnes grading 5.09 grams gold for 181,000 oz. gold.

The company continues drilling at Froome, both on the down-plunge extension of the deposit as well as a potential mineralized footwall. At the Froome Footwall, McEwen cut 53.93 grams gold over 8 metres from 113 metres downhole, including 322.86 grams gold over 1.3 metres.

The company says this intercept may extend the strike length of a second gold-mineralization belt that runs parallel to the main Froome deposit, 350 metres east.

At its Grey Fox project, the company drilled another 3,000 metres in the 147 Hanging Wall target.

The company traced a known mineralized structure from another orientation to prove continuity. The structure extends over 140 metres’ strike length and to 125 metres below surface.

The company also added its deepest high-grade intercept to date at Black Fox when it tested the downplunge extension of the project’s Deep Central Zone. The company cut 35.08 grams gold over 1.6 metres from 561 metres downhole, including 55.1 grams gold over 1 metre.

The company is not drilling at Black Fox, but says it will resume in mid-September.

On the other side of the complex, 45 km west of the mill, sit four other gold projects in the Timmins Camp: Buffalo-Ankerite, Paymaster, Davidson Tisdale, and, most notably, Fuller, which the company aims to mine in 2021.

Fuller operated from 1986 to 1989, before it shut down due to financial issues. As a result, the site has a ramp and 5 km of underground development into existing stopes that extend 650 feet below surface.

“I consider Fuller to be a real gift to McEwen,” McEwen director of mine planning Nigel Fung says. “It’s essentially ready to be mined as soon as it’s permitted and de-watered.

“We’ll have a PEA later this year at Fuller. That will lead to a prefeasibil-

ity study with a bulk sample, with the aim of justifying production at Fuller in the next 36 months.”

The company plans to bring Grey Fox into production in 2022 and Stock in 2023, with Tamarack producing in 2020 and 2021.

“We want to bring four to five mines online to feed the central mill,” Price says.

The company produced 14,055 equivalent oz. gold at the Black Fox complex in 2018’s second quarter, in-line with its full year production guidance of 48,000 equivalent oz. gold. It produced 47,258 equivalent oz. gold across all of its projects in 2018’s second quarter, which is nearly 14,000 equivalent oz. gold higher than in the second quarter of 2017.

Sandstorm Gold Royalties (TSX: SSL; NYSE-AM: SAND) has a gold stream on the complex that covers the Black Fox deposit, Froome, the gold component of Tamarack and another target called Pike River.

The stream entitles Sandstorm to as much as 8% of the project’s production at US$524 per oz. gold.

“Grey Fox is not covered, nor is most of the property, and in my opinion that’s where we should be spending more of our time exploring,” executive chairman Rob McEwen says.

The company forecasts US$650 per gold equivalent oz. cash costs at Black Fox for 2018. Cash costs for the first half of 2018 were US$724 per gold equivalent ounce.

Shares of McEwen are valued at $2.65 with a 52-week range of $2.33 to $3.46. The company has an $889-million market capitalization.

Its Gold Bar gold mine in Nevada is under construction, while a new preliminary economic assessment called Project Fenix could add 12 years to its Mexican operations.

“We’re finding multiple new areas of gold that suggest we’re going to have longer lives and higher grades,” McEwen says. TNM

ONTARIO

GLOBAL MINING NEWS

THE NORTHERN MINER / SEPTERMBER 17–30, 2018

15

World needs graphite, Ontario projects need cash GRAPHITE

| Northern Graphite, Zenyatta lead the development charge

BY BRIAN SYLVESTER

T

Special to The Northern Miner

here is roughly 20 times more graphite than there is lithium in a lithium-ion battery — a misnomer if ever there was one.

Graphite is the anode material in lithium-ion batteries, the same ones that power our smartphones, laptops, vacuums and power tools.

From 2006 to 2016, the lithium-ion battery market grew 22% annually, and today 35% of all graphite finds its way into energy storage. Most of the rest is used in furnaces for steelmaking.

The next growth wave for graphite should come from elevated demand for electric vehicles (EVs) and electricity grid storage.

“The EV market and the grid storage market are two huge markets, and they’re still in their infancy in terms of market penetration. There’s a lot of runway left for lithiumion battery market growth, and that means growth in the demand for graphite,” said Gregory Bowes, CEO of Northern Graphite (TSXV: NGC; US-OTC: NGPHF), in a recent Northern Miner Podcast.

Bowes noted that global governments aim to put 17.5 million electric vehicles on the road by 2020.

In Canada, there were 50,000 electric vehicles on the road last year, up from 29,000 in 2016. EVs account for 1.4% of all new Canadian car sales.

The total global market for flake graphite concentrate (of all sizes) used to produce battery anodes, among other things, is 650,000 tonnes.

Bowes says it would take 400,000 Tesla Motors (NASDAQ: TSLA) Model 3s to boost flake graphite concentrate demand by 100,000 tonnes, to say nothing of the growing market vanadium redox flow batteries used for large-scale energy storage. These “batteries” are the size of a house, and require copious quantities of graphite felt.

But where is the graphite going to come from? Perhaps China.

According to the Chinese website www.iccsino.com, China’s graphite electrode production reached 520,000 tonnes in 2017, with 208,000 tonnes exported and 312,000 tonnes consumed domestically.

By 2020, ICC estimates China could produce 720,000 tonnes of graphite electrode but export only 80,000 tonnes, while consuming 640,000 tonnes domestically as part of a larger strategy to build a graphite electrode reserve that should exceed 80% of China’s domestic capacity.

That should open the door for other players to step onto the pitch.

“We’re fortunate in our deposit at Bissett Creek in that it will produce almost entirely large and extra-large flake graphite. That is pretty unique.

Most mines produce a mixture of

“WE’RE FORTUNATE IN OUR DEPOSIT AT BISSETT CREEK IN THAT IT WILL PRODUCE ALMOST ENTIRELY LARGE AND EXTRA LARGE FLAKE GRAPHITE — THAT IS PRETTY UNIQUE.” GREGORY BOWES CEO, NORTHERN GRAPHITE

A helicopter moves equipment at Zenyatta Ventures’ Albany graphite project in 2013. ZENYATTA VENTURES

small, medium and large, and some of them are heavily weighted toward the small end of the spectrum,” Bowes said.

Northern Graphite bills itself as a “pre-development” story. The company has been around since 2010 and rode the rush through 2013, when any publicly traded vehicle with graphite in its name virtually tripled its share price in short order.

Northern Graphite’s developmentstage Bissett Creek project is situated 200 km west of Ottawa.

“Political stability is definitely a factor in our favour. There have been a number of issues or incidents over the years at operating mines in lesser-developed countries, whether they’re in South America, Africa or Asia. It’s certainly a positive that Bissett Creek is close to the American and European markets,” Bowes added.

The company is updating its 2012 feasibility study of Bissett Creek to reflect changes in graphite prices, lower energy costs and a weakened loonie. The revised study should be published before year-end.

A mining permit for Bissett Creek is in hand, but the company still needs environmental permits. Oh, and some cash — about $100 million to build a mine that would produce 20,000 tonnes of graphite flake concentrate annually at cash costs of $600 per tonne.

“Northern Graphite has been twiddling with its plans with the goal of reducing opex and capex.

It has achieved one of the lowest [projected capital costs] in Canada, but it’s still not at a global scale,” says Christopher Ecclestone, mining specialist with London-based Hallgarten & Company. “The next step is getting the financing in place. The potential volume of 20,000 tonnes is not disruptive” to the overall market.

However, for graphite to be used as an anode in lithium-ion batteries, graphite must be upgraded, or “purified.”

Almost all graphite purification is done at facilities in China using an environmentally unfriendly hydrofluoric acid process that has forced shutdowns at various operations.

Northern Graphite and Hatch Engineering have filed a patent for a graphite-purification process that both companies hope will lead to the commercial processing of graphite concentrate in North America, as mining graphite at current prices lacks the value-added component needed to generate significant cash flow.

The price for +80 mesh, 94–97% carbon graphite — generally considered the industry benchmark grade — bottomed at US$750 per tonne in early 2017, and now trades in a range of US$1,600–1,800 per tonne.

Ecclestone says to look for more of the same.

“Prices have rebounded and will stay at their healthier current levels, at least as long as Chinese shutdowns persist. The hydrofluoric processing issue is an important one for Chinese output. The holes in the ozone later are starting to grow again due to a mysterious Asian source,” Ecclestone says.

Farther west in northern Ontario, near the communities of Constance Lake and Hearst, is Zenyatta Ventures’ (TSXV: ZEN; US-OTC: ZENYF) Albany hydrothermal graphite project.

A preliminary economic assessment (PEA) on the advanced-stage Albany project concluded that Zenyatta could produce 30,000 tonnes of high-purity graphite annually for 22 years — and that would only use less than half of the outlined resource.

Using a 10% discount rate, the study determined that Albany has a net present value of US$438 million and a 24% after-tax internal rate of return. Payback would occur in four years.

The cost to build the mine tallied to US$412 million — more than the market had hoped. Shares in the company have trended down since the PEA was released and currently sit at 52¢ per share.

Albany hosts 977,000 indicated tonnes of graphite from 25.1 million tonnes grading 3.9% graphitic carbon, and 441,000 inferred tonnes of graphite from 20.1 million tonnes at 2.2% graphitic carbon. The deposit

is open at depth.

Zenyatta claims Albany graphite has unique particle-size morphology and crystal structure, which makes it ideal for use in graphene — microscopic graphite used in a host of applications, the biggest of which is ultra-high performance concrete used to build super structures.

The other graphite company operating in the province is Ontario Graphite. The privately held firm

operates the Kearney mine, thought to host the largest mineral resource of any North American graphite project.

At full capacity, Ontario Graphite projects annual production of 20,000 tonnes of 95–97% graphitic carbon, large-flake graphite mineral concentrate. TNM — Based in Toronto, Brian Sylvester is a freelance business writer specializing in mining.

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16

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Balmoral expands newly optioned Gargoyle property by 1,600% NICKEL

| Has begun drill program at gold and nickel properties in Quebec

BY RICHARD QUARISA

I

rquarisa@northernminer.com

n August, Balmoral Resources (TSX: BAR; US-OTC: BALMF) optioned the Gargoyle nickel property, 55 km northeast of Atikokan, Ontario. Just a few weeks later, it expanded Gargoyle 1,600% by staking another 697 claims, and acquiring two new properties nearby: Goblin and Ghost.

The additions make Balmoral the dominant landholder in that part of the Lumby Lake greenstone belt.

Its Gargoyle property includes 21 mapped and interpreted ultramafic volcanic and intrusive bodies across more than 20 km of strike length.

Only one has been drilled and confirmed to be ultramafic.

As far as the company can tell, it controls most of the ultramafic sequences in the belt.

Balmoral began with a focus on gold properties, but entered the nickel space when it found the Grasset nickel-copper-cobalt property at the eastern end of its Detour trend gold project in Quebec. Although the company’s initial drilling hit gold at Grasset, it later found a nickelcopper-platinum zone — just in time for the nickel market to crash in 2015.

“With Grasset in-hand, we kept doing a bunch of work in the background, looking for other areas in the country with potential for — call it ‘camp-scale’ discoveries,like Grasset,” Balmoral president and CEO Darin Wagner says during a telephone interview with The Northern Miner.

The company focused on areas that hadn’t seen a lot of work but indicated ultramafic intrusions that typically host nickel mineralization.

The Gargoyle property showed the right indicators, but didn’t contain a lot of known mineralization, until prospector Karl Bjorkman told Balmoral earlier this summer that he had found nickel-sulphide mineralization in the belt.

“We had one of our geologists go out and have a look at it, and we were actually quite impressed with the style of mineralization, which occurs for over a kilometre of strike length in isolated outcrops,” Wagner says.

The company entered an option agreement with Bjorkman. It can earn a 100% interest in Gargoyle by making cash payments to Bjorkman totalling $140,000 in the third year.

Over the same period of time it will also make payments to Bjorkman totalling 390,000 shares. Bjorkman would keep a 2% net smelter return royalty on the property if Balmoral completes the option that the company could buy back for $1 million.

Balmoral spent $30,000 staking the rest of its land position, includ-

Balmoral Resources’ Gargoyle nickel property, 55 km northeast of Atikokan, Ontario. BALMORAL RESOURCES

“WE KNOW THERE’S GOING TO BE A LARGE NUMBER OF ANOMALIES OUT OF THAT [AIRBORNE MAGNETIC AND ELECTROMAGNETIC] SURVEY.” DARIN WAGNER PRESIDENT AND CEO, BALMORAL RESOURCES

ing Goblin and Ghost.

“Credit to the Ontario Geological Survey, because they did a mapping survey in that belt and produced a map in 2010 that outlines the the extent of the ultramafic suite,” Wagner says.

Goblin sits 11 km west of Gargoyle. It is separated by a large body of granite, which Wagner says probably continues from the same rocks at Gargoyle. The smallest of the three properties, Ghost, sits 6 km southeast of Goblin and covers a small intrusion.

Gargoyle has intrusive ultramafics and komatiitic volcanic sequences, but Goblin and Ghost look like solely intrusive bodies, and, according to Wagner, show geological similarities to Grasset.

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“The combination of mineralization in the style that we were looking for, the lateral extent of the mineralization that we could see in the very limited work that’s been done, and the ability to very cheaply pull together the entire package made it attractive for us to go ahead” Wagner says. “It complements the work we’ll be doing shortly at Grasset., and helps build the nickel side of the business.”

The company is a third of the way through its 7,500-metre, summer–fall drill program at the Detour trend. It recently began drilling its Detour East gold property after wrapping up a series of holes on its Martiniere property.

Wagner could transition to Grasset this September. The company is looking for a second drill to bring to Grasset, as it will receive most of the drill money the company has allocated for the summer and fall.

The company intends to perform expansion drilling on the Grasset deposit, and specifically on a highgrade nickel sulphide breccia zone it discovered in 2015.

In March 2016, the company tabled a maiden resource for Grasset.

The project has 3.45 million indicated tonnes grading 1.56% nickel, 0.17% copper, 0.03% cobalt, 0.34 gram per tonne platinum and 0.84 gram palladium for 119 million lb. nickel, 13.2 million lb. copper, 2.3 million lb. cobalt, 37,900 oz. platinum and 93,400 oz. palladium. This represents a high-grade core the

Samples at the Gargoyle nickel project. BALMORAL RESOURCES

company says lies within a larger nickel sulphide body totalling more than 15 million tonnes.

The company will fly an airborne magnetic and electromagnetic survey of Gargoyle, Goblin and Ghost in early October. If weather conditions are good, it will follow up with more mapping and prospecting.

“We know there’s going to be a large number of anomalies out of that survey because there is a relatively recent — although widerspaced — government survey that outlines a lot of geophysical anomalies, the kind we want to see in the belt,” Wagner says. “Our survey will tighten that coverage up and may allow us to go directly from airborne to drill testing.”

Shares of Balmoral are valued at 15¢ with a 52-week range of 14¢ to 69¢. The company has a $21-million market capitalization.

“We like where the nickel market is and we like where it’s going an awful lot,” Wagner says. “It’s not often in our business where you get a major, new demand stream for one of the primary metals, and the electric vehicles are exactly that for nickel.

“The market from time to time has a little bit of trouble figuring out whether we’re a gold company or a nickel company, and I keep telling them over and over again: we’re an exploration company. If it’s gold, great. If it’s nickel, that’s great too.” TNM

GLOBAL MINING NEWS

THE NORTHERN MINER / SEPTEMBER 17–30, 2018

17

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18

WWW.NORTHERNMINER.COM

SEPTEMBER 17–30, 2018 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / SEPTEMBER 3–7 Canada’s benchmark index fell 1.06% to 16,090.27 during a shortened trading week.

The S&P/TSX Global Mining Index fell 4.3% to 62.70 and the S&P/TSX Global Gold Index fell 2.9% to 152.66. The gold price didn’t fare much better, falling 0.38% to US$1,196.20.

Shares of Nevsun Resources rose 88¢ to $5.82 on news that it had agreed to a friendly takeover bid from Zijin Mining, valuing the company at $1.86 billion, or $6 per share. Zijin made its offer just a few weeks after Nevsun’s board of directors recommended shareholders reject a take-over bid from Lundin Mining that valued Nevsun at $4.75 per share.

Nevsun recently approved an extension to its Bisha zinc-copper mine in Eritrea that will keep the mine operating to 2022. It also announced a resource for its Timok Lower Zone, part of its Timok copper-gold project in Serbia. The joint venture with FreeportMcMoRan contains 1.7 billion inferred tonnes grading 0.86% copper and 0.18 gram gold, or 0.96% copper equivalent, for 31.5 billion lb. copper and 9.6 million oz. gold.

Shares of SolGold rose 28% to 48¢. In early September, BHP Billiton agreed to buy Guyana Goldstrike’s 6.1% interest in SolGold, representing 103.1 million shares, for 46¢ per share.

In a press release, BHP CEO Andrew Mackenzie said that “consistent with our positive

long-term outlook, copper is a key exploration focus for BHP as we seek to replenish our resource base and grow.”

SolGold is focused on its Cascabel coppergold project in northwest Ecuador. The company tabled a maiden resource in early 2018 at the project’s Alpala deposit outlining 430 million indicated tonnes grading 0.5% copper and 0.4 gram gold for 2.3 million tonnes copper and 6 million oz. gold as well as 650 million inferred tonnes at 0.4% copper and 0.3 gram gold for 2.9 million tonnes copper and 6.3 million oz. gold.

It has since drilled more than 100,000 metres at Cascabel.

Shares of Pershing Gold fell 20% to $1.37.

They tumbled further the next trading week, falling as low as $1.06 per share on Sept. 10, 2018.

TSX MOST ACTIVE ISSUES

Barrick Gold Nevsun Res First Quantum Kinross Gold Suncor Energy Goldcorp Tahoe Res Lydian Intl Lundin Mng Yamana Gold

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

ABX NSU FM K SU G THO LYD LUN YRI

18746 13.84 12.69 13.28 - 0.07 17730 5.85 4.87 5.82 + 0.88 15252 16.80 14.05 14.58 - 1.79 14819 4.02 3.62 3.73 - 0.17 14140 54.30 50.80 51.43 - 2.29 13678 14.46 13.19 13.54 - 0.56 12867 4.66 3.36 3.76 - 0.73 11251 0.24 0.18 0.21 + 0.01 10826 6.53 6.00 6.44 + 0.22 10735 3.65 3.17 3.20 - 0.42

The abrupt decline came on news that the Securities and Exchange Commission is pressing charges against former company director Barry Honig — who resigned in August 2018 — and 10 others for frauds that earned them US$27 million.

“A group of prolific South Florida-based microcap fraudsters led by Barry Honig manipulated the share price of the stock of three companies in classic pump-and-dump

schemes,” the SEC said in a press release. “After securing a substantial ownership interest in the companies, Honig and his associates engaged in illegal promotional activity and manipulative trading to artificially boost each issuer’s stock price and to give the stock the appearance of active trading volume.”

Pershing was not named in the SEC complaint, and says the charges are unrelated to the company. TNM

TSX GREATEST PERCENTAGE CHANGE

SolGold plc Wallbridge Mng Orosur Mng PolyMet Mng Talon Metals Nevsun Res Entree Gold Osisko Mng Inc TriMetals Mng Platinum Gp Mt Levon Res Ltd Nickel Creek Pershing Gold EurOmax Res Coro Mining Laramide Res Tahoe Res Horizonte Mnls Eastmain Res Lithium Amer

SOLG WM OMI POM TLO NSU ETG OSK TMI PTM LVN NCP PGLC EOX COP LAM THO HZM ER LAC

627 6142 4649 50 37 17730 321 3894 132 1131 826 1396 9 317 2626 2792 12867 285 700 1498

0.48 0.14 0.04 1.30 0.10 5.85 0.54 2.46 0.09 0.16 0.22 0.18 1.72 0.16 0.08 0.42 4.66 0.07 0.21 6.45

0.35 0.10 0.02 1.05 0.08 4.87 0.45 1.98 0.08 0.13 0.17 0.13 1.25 0.12 0.06 0.33 3.36 0.06 0.18 5.07

0.48 0.14 0.03 1.27 0.10 5.82 0.54 2.41 0.09 0.15 0.17 0.14 1.37 0.12 0.07 0.33 3.76 0.06 0.18 5.31

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

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Nevsun Res Torex Gold Osisko Mng Inc Ero Copper Corvus Gold Lundin Mng PolyMet Mng SolGold plc Entree Gold Ivanhoe Mines Franco-Nevada Suncor Energy First Quantum Pretium Res Silver Wheaton Teck Res Agnico Eagle Nexa Resources Nutrien Lithium Amer

28.4 27.3 20.0 19.8 18.8 17.8 17.4 16.4 12.5 11.1 25.0 20.6 20.3 20.0 18.8 16.5 16.3 15.4 14.6 14.4

VOLUME WEEK (000s) CLOSE CHANGE

NSU TXG OSK ERO KOR LUN POM SOLG ETG IVN FNV SU FM PVG WPM TECK.A AEM NEXA NTR LAC

17730 5.82 1298 9.25 3894 2.41 370 9.03 356 3.00 10826 6.44 50 1.27 627 0.48 321 0.54 4440 2.40 3129 80.40 14140 51.43 15252 14.58 5974 9.38 6138 21.01 13 28.74 3564 43.73 4 14.70 4882 72.31 1498 5.31

+ 0.88 + 0.44 + 0.34 + 0.31 + 0.25 + 0.22 + 0.21 + 0.11 + 0.08 + 0.08 - 3.02 - 2.29 - 1.79 - 1.47 - 1.35 - 1.25 - 1.25 - 1.04 - 1.03 - 0.89

TSX VENTURE EXCHANGE / SEPTEMBER 3–7 Gold Reserve rose 17¢ to $3.35 per share.

The company recently received Venezuelan government bonds with an estimated market value of US$88.5 million as payment towards the December 2017 and January and February 2018 monthly installments under a 2009 settlement agreement. The latest payment brings the total amount Gold Reserve has received so far to US$276 million. (Venezuela is five months in arrears at US$29.5 million per month). In addition, about US$8 million previously tendered by the Venezuelan government was transferred recently from the company’s trust account in Venezuela to its bank account in North America, leaving US$37 million left in the trust account.

In October 2009, the company started an arbitration claim against Venezuela to get compensation after the country terminated its Brisas project, in violation of the terms of the treaty between the governments of Canada and Venezuela for the promotion and protection of investments.

In September 2014, the ICSID Tribunal unanimously awarded Gold Reserve $740.3 million. In July 2016, Gold Reserve signed the settlement deal, under which Venezuela agreed to pay the award (including interest), and buy the company’s mining data. Under the amended agreement, Venezuela will pay

Gold Reserve $792 million to satisfy the award and $240 million for the data for a total of $1.03 billion.

Shares of Select Sands dropped 22¢ to 24¢ apiece after the company lost a key customer.

Liberty Oilfield Services ended its frac sand supply agreement with Select Sands effective in November. “Although it is possible that Liberty will purchase frac sand from the company following termination of the agreement,” the company stated, “there are no assurances that any such relationship will continue.” Select Sands had been supplying Liberty with frac sand for the last 18 months and no reason was given for the termination. Select Sands expects third-quarter sales will be between 65,000 and 90,000 tons of frac and industrial sands from its properties in Arkansas.

TSX-V MOST ACTIVE ISSUES

Sokoman Iron Cornerstone Ca Golden Ridge Aben Res Select Sands Eastfield Res Gratomic Leeta Gold Desert Lion Resource Cap

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

SIC 17680 CGP 14019 GLDN 13684 ABN 10041 SNS 7562 ETF 5781 GRAT 5306 HIVE 5047 DLI 4566 RCG 4324

0.22 0.27 0.54 0.39 0.46 0.06 0.10 0.86 0.21 0.04

0.15 0.14 0.40 0.28 0.20 0.04 0.08 0.67 0.09 0.02

0.18 - 0.01 0.24 + 0.10 0.44 - 0.08 0.34 - 0.05 0.24 - 0.22 0.05 unch 0.00 0.08 - 0.02 0.68 - 0.14 0.10 - 0.09 0.03 - 0.01

Standard Lithium has appointed industry veteran Robert Cross to its board. Cross cofounded and serves as chairman of B2Gold. He was also a co-founder of Bankers Petroleum and Petrodorado Energy, and until October 2007 served as non-executive chairman of Northern Orion Resources. Standard Lithium’s flagship is a brine project in Arkansas.

It also has lithium projects in California’s

Mojave desert. In August, the company reported four brine samples from two wells in the Smackover Formation in southwestern Arkansas showed lithium concentrations between 347 and 461 milligrams per litre lithium (mg/L), with an average 450 mg/L in one of the wells and 350 mg/L in the other.

Standard Lithium closed the trading week at $1.20, down 20¢ a share. TNM

TSX-V GREATEST PERCENTAGE CHANGE

Troymet Expl Meridian Mg Tanager Energy Cornerstone Ca Niocan Inc Essex Minerals Sutter Gold Lions Bay Cap Glacier Lake New Destiny Mg Asian Minl Res Goldex Res CR Capital Mezzotin Mnrls Select Sands Wildsky Res Desert Lion Amseco Expl Trueclaim Expl DV Resources

TYE MNO TAN CGP NIO ESX SGM LBI GLI NED ASN GDX CIT MEZ.H SNS WSK DLI AEL.H TRM DLV.H

187 135 125 14019 82 16 141 427 307 211 438 651 1440 89 7562 66 4566 7 626 470

0.01 0.14 0.09 0.27 0.28 0.12 0.02 0.12 0.04 0.20 0.01 0.53 0.04 0.01 0.46 0.25 0.21 0.29 0.15 0.16

0.01 0.07 0.05 0.14 0.19 0.09 0.01 0.07 0.03 0.13 0.01 0.23 0.02 0.01 0.20 0.11 0.09 0.13 0.09 0.10

0.01 0.14 0.09 0.24 0.28 0.12 0.02 0.12 0.04 0.20 0.01 0.24 0.02 0.01 0.24 0.11 0.10 0.17 0.10 0.10

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 100.0 + 86.7 + 70.0 + 65.5 + 51.4 + 50.0 + 50.0 + 50.0 + 40.0 + 39.3 - 99.8 - 55.7 - 50.0 - 50.0 - 47.8 - 47.5 - 47.4 - 43.1 - 36.7 - 35.5

VOLUME WEEK (000s) CLOSE CHANGE

Gold Reserve Lithium Chile Luckystrike Filo Mg Corp Great Bear Res New Oroperu Niocan Inc Cornerstone Ca Till Capital Xiana Mng Asian Minl Res Cobalt 27 Cap Novo Res Aurania Res Goldex Res Select Sands Garibaldi Res Itafos Standard Lith Cliffmont Res

GRZ LITH LUKY FIL GBR ORO NIO CGP TIL XIA ASN KBLT NVO ARU GDX SNS GGI IFOS SLL CMO.H

106 953 208 271 1600 13 82 14019 1 12 438 1513 832 53 651 7562 903 28 649 8

3.35 0.96 0.50 2.25 2.00 0.40 0.28 0.24 2.09 0.56 0.01 5.12 3.46 2.32 0.24 0.24 2.39 1.85 1.20 0.50

+ 0.17 + 0.14 + 0.13 + 0.12 + 0.10 + 0.10 + 0.10 + 0.10 + 0.09 + 0.08 - 2.00 - 1.28 - 0.49 - 0.38 - 0.30 - 0.22 - 0.21 - 0.20 - 0.20 - 0.20

U.S. MARKETS / SEPTEMBER 3–7 The U.S. Bureau of Statistics released its job report showing that the unemployment rate remained unchanged in August at 3.9%. Base metals were down during the trading week while spot gold fell US$3.80 to US$1,196.20 per oz. gold. The Dow Jones Industrial Average lost 0.18% to finish at 25,916.54, and the S&P 500 Index fell 1.03% to 2,871.68.

Shares of Cleveland-Cliffs were up US65¢ to US$10.70, on news it will redeem its outstanding 5.90% senior notes due in March 2020 and 4.80% senior notes due in October 2020. Chairman and CEO Lourenco Goncalves said the company will use cash-on-hand to redeem both tranches of unsecured notes, and said the decision brings it “one step closer to being in a position to return capital to shareholders.” The company supplies iron ore pellets to North America’s steel industry from mines and pellet plants in Michigan and Minnesota. By 2020, it expects to produce hot-briquetted iron in the Great Lakes region after completing its first plant in Ohio.

Sibanye-Stillwater’s shares rose US16¢ to US$2.52. The company is launching a tender process to repurchase part of its corporate bonds and convertible bonds. The company

will fund the repurchase from its cash resources, including the US$500 million in proceeds from its recent streaming deal with Wheaton Precious Metals. The US$400-million tender offer will help it repurchase and retire 31% of its long-term debt financing instruments and lower annual interest costs by US$26 million.

Goldcorp reported progress on key permitting and project milestones that management says will help it achieve its five-year plan of boosting gold production and reserves by 20% and decreasing all-in sustaining costs per ounce by 20%. At Borden in Ontario, it began extracting a bulk sample in August, U.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Freeport McMoR* FCX 91128 14.31 13.05 13.18 - 0.87 Vale* VALE 82430 13.29 12.43 13.01 - 0.19 Barrick Gold* ABX 61082 10.62 9.64 10.05 - 0.37 Yamana Gold* AUY 60624 2.80 2.40 2.44 - 0.34 Cleveland-Clif* CLF 50849 10.84 9.50 10.70 + 0.65 Tahoe Res* TAHO 50227 3.57 2.55 2.84 - 0.60 Kinross Gold* KGC 37516 3.09 2.75 2.83 - 0.17 Goldcorp* GG 36539 11.09 10.02 10.27 - 0.57 United States S* X 30110 30.30 28.60 29.06 - 0.62 Chevron Corp* CVX 29263 119.63 113.39 114.60 - 3.86

two months ahead of schedule, and says it’s on track to reach commercial production in the second half of 2019. Its Century prefeasibility study is on time for completion in the fourth quarter, and at its Coffee project, it finished the adequacy review phase of the permitting

process with the Yukon Environmental and Socio-economic Assessment Board in August, and has entered a 30- to 60-day public comment period. It expects production at Coffee will start in 2021. Goldcorp’s shares fell US57¢ to US$10.27. TNM

U.S. GREATEST PERCENTAGE CHANGE

Harmony Gold* Sibanye Gold* Cleveland-Clif* Peabody Enrgy* CONSOL Energy* Arch Coal* McEwen Mng* Black Hills* Vedanta* AngloGold Ash* Tahoe Res* Lithium Amer* Pretium Res* Mechel* Eldorado Gold* Yamana Gold* HudBay Mnls* Alcoa* Southern Copp* Silver Wheaton*

HMY SBGL CLF BTU CEIX ARCH MUX BKH VEDL AU TAHO LAC PVG MTL EGO AUY HBM AA SCCO WPM

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

19439 1.82 16982 2.67 50849 10.84 4943 43.03 1215 44.80 923 92.24 9379 2.10 1808 59.94 1893 12.85 12578 8.09 50227 3.57 1136 4.94 27389 8.60 159 2.69 27886 1.00 60624 2.80 2764 4.80 19257 45.04 5601 44.06 13803 17.61

1.63 2.31 9.50 40.36 41.26 87.48 1.88 58.42 12.27 7.58 2.55 3.85 6.53 2.30 0.84 2.40 4.15 40.10 40.39 15.61

1.79 2.52 10.70 42.56 43.99 90.89 2.00 59.37 12.68 7.83 2.84 4.07 7.11 2.31 0.86 2.44 4.25 41.00 40.44 15.93

+ 7.8 + 6.8 + 6.5 + 3.0 + 2.5 + 2.5 + 1.5 + 0.9 - 0.8 - 1.0 - 17.4 - 14.7 - 14.2 - 13.2 - 12.7 - 12.2 - 9.6 - 8.2 - 7.3 - 7.3

U.S. GREATEST VALUE CHANGE

Arch Coal* ARCH Peabody Enrgy* BTU CONSOL Energy* CEIX Cleveland-Clif* CLF Black Hills* BKH Sibanye Gold* SBGL Harmony Gold* HMY McEwen Mng* MUX DRDGOLD* DRD Endeavr Silver* EXK Chevron Corp* CVX Alcoa* AA Southern Copp* SCCO Franco-Nevada* FNV MartinMarietta* MLM Suncor Energy* SU Nutrien* NTR Rio Tinto* RIO Agnico Eagle* AEM Mosaic* MOS

VOLUME WEEK (000s) CLOSE CHANGE

923 90.89 4943 42.56 1215 43.99 50849 10.70 1808 59.37 16982 2.52 19439 1.79 9379 2.00 218 2.09 3432 2.18 29263 114.60 19257 41.00 5601 40.44 3767 61.01 3060 196.26 13060 39.03 7851 54.82 13133 46.27 9630 33.16 15098 29.94

+ 2.22 + 1.25 + 1.09 + 0.65 + 0.52 + 0.16 + 0.13 + 0.03 - 0.04 - 0.06 - 3.86 - 3.67 - 3.20 - 2.98 - 2.46 - 2.15 - 1.81 - 1.76 - 1.36 - 1.33

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / SEPTEMBER 17–30, 2018

19

M E TA L S , M I N I N G A N D M O N EY M A R K E T S Tuesday, September 11, 2018 Precious Metals Price (US$/oz.)

Change $1195.80 -5.90 Gold Silver $14.22 -0.31 Platinum $782.00 -5.00 Palladium $979.00 -6.00 Base Metals Nickel Copper Lead Zinc

TSX WARRANTS

PRODUCER AND DEALER PRICES

SPOT PRICES COURTESY OF SCOTIABANK

Price (US$/tonne) Change $12175.00 -230.00 $5831.50 -77.00 $1983.00 -44.50 $2326.00 -56.00

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, September 7, 2018 (change from August 31, 2018 in brackets): Aluminium Alloy 13600 (+100) Aluminium 1061575 (-9175) Copper 246175 (-18750) Lead 121400 (-4750) Nickel 236250 (-2532) Tin 2860 (-80) Zinc 232800 (-8775)

Thermal Coal CAPP: US$40.00 per short ton Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: $75.45 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: $12.10 Cobalt: US$31.98/lb.

Copper: US$2.67/lb.

Copper: CME Group Futures Oct. 2018: US$2.61/lb.; Oct. 2018: US$2.62/lb Ferro-Chrome: US$2.80/kg Ferro Titanium: US$4.90/kg FerroTungsten: US$31.40/kg Ferrovanadium: US$35.20/kg Iridium: NY Dealer Mid-mkt US$1,415.00/tr oz.

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

Iron Ore Fines: US$71.00/tonne Iron Ore Pellets: US$108.60/tonne Lead: US$0.90/lb.

Magnesium: US$2.25/kg Manganese: US$2.03/kg Molybdenum Oxide: US$11.79/lb.

Phosphate Rock: US$86.00/tonne Potash: US$226.00/tonne Rhodium: Mid-mkt US$2,270.00 tr. oz.

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

Silver: Handy & Harman Base: US$14.19 per oz.; Handy & Harman Fabricated: US$17.74 per oz.

Tantalite Ore : US$186.50/kg Tin: US$8.89/lb.

Uranium: U3O8, Trade Tech spot price: US$26.40/lb.; The UX Consulting Company spot price: US$26.50/lb.

Zinc: US$1.06/lb.

Prices current Sept. 11, 2018

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

Index Sep 07 Sep 06 Sep 05 Sep 04 Sep 03 High Low S&P/TSX Composite 16090.27 16100.94 16137.57 16161.30 16262.88 15527.30 12400.15 S&P/TSXV Composite 712.06 709.56 713.15 718.13 724.71 1050.26 883.52 S&P/TSX 60 956.49 958.53 960.69 960.07 965.73 896.74 709.99 S&P/TSX Global Gold 152.75 151.97 151.82 153.41 157.32 218.90 149.29 DJ Precious Metals 128.83 128.83 128.88 130.08 135.12 420.72 130.95

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Aug 16, 2018 (with changes from Aug 01, 2018) Largest short positions Ivanhoe Mines IVN 14454418 657123 8/1/2018 Sandstorm Gold SSL 14274306 8570 8/1/2018 Eldorado Gold ELD 9865757 -334874 8/1/2018 Alacer Gold ASR 9431787 -554267 8/1/2018 Goldcorp G 8808658 -492338 8/1/2018 Turquoise HIl TRQ 8258356 -638373 8/1/2018 Yamana Gold YRI 7391541 -167001 8/1/2018 New Gold NGD 7258791 -368308 8/1/2018 Osisko Mng Inc OSK 7245660 183211 8/1/2018 Lundin Mng LUN 7148090 2831702 8/1/2018 OceanaGold OGC 7124839 -134506 8/1/2018 Nexgen Energy NXE 7116326 33779 8/1/2018 Nemaska Lith NMX 6991304 247374 8/1/2018 First Majestic FR 6659849 333819 8/1/2018 Barrick Gold ABX 5634601 75632 8/1/2018 Largest increase in short position Lundin Mng LUN 7148090 2831702 8/1/2018 HudBay Mnls HBM 3702608 1378657 8/1/2018 Roxgold ROXG 1127096 906412 8/1/2018 Ivanhoe Mines IVN 14454418 657123 8/1/2018 Cdn Zinc CZN 1473000 528400 8/1/2018 Largest decrease in short position McEwen Mng MUX 4067466 -4038699 8/1/2018 Largo Res LGO 1350330 -1150170 8/1/2018 Golden Star GSC 326717 -714354 8/1/2018 Turquoise HIl TRQ 8258356 -638373 8/1/2018 Suncor Energy SU 5226193 -609699 8/1/2018

Short positions outstanding as of Aug 16, 2018 (with changes from Aug 01, 2018) Largest short positions HIVE 1373466 -320025 8/1/2018 Leeta Gold Atlantic Gold AGB 1351502 -132848 8/1/2018 Golden Ridge GLDN 1328145 1287322 8/1/2018 Goliath Res GOT 1005208 998805 8/1/2018 Juggernaut Exp JUGR 801541 212635 8/1/2018 EnCore Energy EU 755261 749067 8/1/2018 Aben Res ABN 738500 590600 8/1/2018 Cobalt 27 Cap KBLT 734521 -220691 8/1/2018 Equinox Gold EQX 729497 684216 8/1/2018 Belmont Res BEA 528600 -578500 8/1/2018 Prize Mng PRZ 516000 -169400 8/1/2018 Altus Strat ALTS 461000 81000 8/1/2018 Uragold Bay Rs HPQ 430724 430524 8/1/2018 Aldershot Res ALZ 427916 109177 8/1/2018 Zadar Vent ZAD 370468 369352 8/1/2018 Largest increase in short position GLDN 1328145 1287322 8/1/2018 Golden Ridge Goliath Res GOT 1005208 998805 8/1/2018 EnCore Energy EU 755261 749067 8/1/2018 Equinox Gold EQX 729497 684216 8/1/2018 Aben Res ABN 738500 590600 8/1/2018 Largest decrease in short position Sokoman Iron SIC 106368 -1190552 8/1/2018 Belmont Res BEA 528600 -578500 8/1/2018 Havilah Mining HMC 63076 -397607 8/1/2018 First Cobalt FCC 273800 -370000 8/1/2018 Leeta Gold HIVE 1373466 -320025 8/1/2018

Alamos Gold (AGI.WT.A) - Wt buys sh @ $10.00 to Jan 7/19 Alio Gold Inc. (ALO.WT) - 10 Warrants to purchase one common share of the Issuer at $7.00 until expiry Alio Gold Inc. J (ALO.WT.A) - One Warrant to purchase one common share of the Issuer at $8.00 until expiry Ascendant Resources (ASND.WT) - Wt buys sh @ $1.25 to Mar 7/22 eColbalt Solutions Inc. J (ECS.WT) - One Warrant to purchase one common share of the Issuer at US$1.95 per share until expiry Excellon Resources Inc (EXN.WT.A) - One warrant to purchase one common share of the Issuer at $2.80 until expiry 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 Liberty Gold Corp. Wt (LGD.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry may 16, 2019

Lithium Americas Corp (LAC.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry Lydian International Limited (LYD.WT) One Warrant to purchase one additional ordinary share of the Issuer at $0.36 per share until expiry MBAC Fertilizer (MBC.WT) - Wt buys sh @ $1 to Apr 17/19 Nemaska Lithium Inc (NMX.WT) - Wt buys sh @ $1.5 to Jul 8/19 Northern Dynasty Minerals Ltd. J (NDM. WT.A) - Wt buys sh @ $0.55 to Jul 9/20 Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21 Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21 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 Pilot Gold Inc. Wt (PLG.WT) - Wt buys sh @ $0.9 to May 16/19

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

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

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

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

Cornerstone Capital Resources (CGP. WT.S) - Wt buys sh @ $0.35 to Apr 07/19 Equinoxgold Corp (EQX.WT) - One warrant to purchase one common share at $3.00 per share.

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

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

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

JDL Gold Corp. (JDL.WT) - Wt buy sh @ $3.00 to Oct 06/21 Jet Metal (JET.WT) - Wt buys sh @ $0.25 to Sep 16/19 Jet Metal (JET.WT.A) - Wt buys sh @ $0.5 to Feb 28/19 Kootenay Silver Inc. (KTN.WT) - Wt buys sh @ $0.55 to Apr 21/21 Maple Gold Mines Ltd. (MGM.WT) One warrant to purchase one common share at $0.40 per share Millennial Lithium Corp. (ML.WT) - One warrant to purchase one common share at $4.25 per share.

Platinum Group Metals Ltd. (PTM.WT.U) - One Warrant to purchase one common share of the Issuer at US$0.17 until expiry Prairie Provident Resources Inc Wt (PPR. WT) - Wt buys sh @ $0.87 to Mar 16/19 Sandstorm Gold (SSL.WT.B) - One Warrant to purchase one common share of the Issuer at US $14.00 until expiry.

Sherritt International Corporation (S.WT) - Each whole Warrant entitles the holder to acquire between 1.00 and 1.25 additional common shares (as bulletin 20180062 table ) determined based on the Applicable Reference Cobalt Price at an exercise price of $1.95 per Warrant at any time prior to the Expiry Date Sprott Resource Corp (SRHI.WT) - Wt buys sh @ $0.3333 to Feb 09/22

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

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

West Kirkland Mining (WKM.WT) - Wt buys sh @ $0.3 to Apr 17/19 Yellowhead Mining Inc. (YMI.RT) - One (1) Right and $0.12 are required to prchase one Share

NEW 52-WEEK HIGHS AND LOWS SEPTEMBER 3–7, 2018 27 New Highs Aldershot Res Athabasca Mnls Athabasca Mnls* AURYN Mining* Azarga Uranium* Bard Ventures Bard Ventures* Canadian Mng* Cliffmont Res CONSOL Coal Rs* Doubleview Cap* Eastfield Res EnCore Energy EVI Global Grp Goldstar Mnls Gunpoint Expl Luckystrike Matmown* Milner Con Slv Nevsun Res Nevsun Res*

Niocan Inc Strategic Res Strategic Res* Triumph Gold Triumph Gold* ValOre Metals*

104 New Lows 60 North Gold* Agnico Eagle Agnico Eagle* Alamos Gold Alamos Gold* American Pac Americas Silvr* Argonaut Gold Argonaut Gold* Atico Mng* Avino Silver Avrupa Mnls* Balmoral Res* Barkerville Go Barkerville Go* Barrick Gold

Barrick Gold* Centerra Gold China Gold Int Cobalt 27 Cap Coeur Mng* Compass Gold* Cornerstone Ca Coro Mining CWN M’g Acq Desert Lion Desert Lion* DRDGOLD* Engold Mines* Excellon Res Excellon Res* Fairmont Res* Fiore Gold* First Mg Fin * Focus Graphite* Franco-Nevada Franco-Nevada* Freeport McMoR* Fura Gems

Globex Mng Gold Fields* Goldcorp Goldcorp* Golden Dawn Ml Group Eleven Guyana Gldflds HudBay Mnls HudBay Mnls* IAMGOLD IAMGOLD* Intl Battery* InZinc Mining Kinross Gold Kinross Gold* Liberty One Li* LiCo Energy* Lundin Mng Lydian Intl* M2 Cobalt* MaxTech Vent* Mechel* Mega Copper

Meridius Res Meryllion Res* Metallica Min* Midnight Sun Millrock Res* Mirasol Res Monarques Res Moneta Porcpn* Mountain Prov* Nautilus Mnrls* New Gold* Newmont Mng* Nickel Creek* Nrthn Vertex NV Gold* OK2 Minerals Osisko Gold* Pac Bay Mnrls* Paramount Gold* Pershing Gold* Power Metals Radisson Mng Randgold Res*

Rio Tinto* Rise Gold Corp Riverside Res* Royal Gold* Running Fox Rs* Select Sands Sienna Res Silver Wheaton* Sitka Gold Southern Silvr* Syrah Res* Tahoe Res* Timmins Gold Timmins Gold* Titan Mining* Troubadour Res Turquoise HIl* Uranium Res* Western Copper*

CANADIAN GOLD MUTUAL FUNDS

DAILY METAL PRICES Daily Metal Prices Date Sept 10 Sept 7 Sept 6 Sept 5 Sept 4 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) 1540/1570 1530/1575 1530/1575 1530/1550 1505/1580 Al Alloy Aluminum 1998/2036 2028/2065 2030/2062 2045.50/2076 2039.50/2069.50 Copper 5840/5862 5881/5904 5939/5950 5849.50/5865 5822/5848 2054/2075 2036/2058.50 2043/2060 2065/2078 2085.50/2100 Lead Nickel 12200/12295 12285/12360 12485/12575 12410/12490 12450/12565 Tin 19025/19005 19105/19010 18850/18800 18915/18850 18725/18650 Zinc 2405.50/2404.50 2410/2405 2469.50/2456.50 2436/2426.50 2435/2426.50 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.)

Gold AM 1195.80 1200.75 1204.30 1194.70 1195.75 Gold PM 1196.60 1198.90 1205.15 1196.70 1190.85 Silver 14.22 14.19 14.27 14.17 14.25 Platinum 797.00 776.00 790.00 774.00 772.00 Palladium 994.00 982.00 978.00 988.00 967.00

Fund Sep 07 ($) Aug 31 ($) Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$) AGF Prec Mtls Fd MF 16.70 17.08 -0.38 -2.22 -9.15 2.80 101.98 BMO Prec Mtls Fd A 15.01 15.43 -0.42 -2.71 -3.19 2.40 56.66 BMO ZGD 7.25 7.53 -0.28 -3.71 -8.56 0.61 BMO ZJG 7.17 7.40 -0.23 -3.10 -6.09 0.60 CIBC Prec Metal Fd A 7.78 8.02 -0.24 -3.03 -8.86 2.45 41.09 Dyn Prec Metls Fd A 5.84 5.85 -0.01 -0.17 -7.70 2.66 322.10 Galileo GOGO 8.85 -0.25 -2.82 Horizons HEP 19.47 20.02 -0.55 -2.73 -2.96 0.81 IG Mac GbPMetCl A 7.03 7.25 -0.22 -3.01 -7.73 2.75 32.41 iShares XGD 9.54 9.83 -0.29 -2.94 -6.84 0.55 688.12 Mac Prec Met Cl A 36.69 37.84 -1.15 -3.04 -7.99 2.52 60.39 NBI PrecMetFd Invt 9.85 10.12 -0.27 -2.67 -8.21 2.46 26.23 NPT Gold&PrMinFdA 29.24 29.90 -0.65 -2.18 -9.56 3.04 117.98 NPT SilverEquCl A 4.35 4.53 -0.18 -4.00 -9.13 2.95 112.92 RBC GblPreMetFd A 27.14 27.61 -0.46 -1.67 -6.81 2.13 312.98 Redw UITGoDe&ProCl A 0.00 0.00 Sentry Pre Met Fd A 32.54 33.04 -0.50 -1.52 -3.59 2.49 138.05 TD PreciousMetalsInv 26.44 27.11 -0.67 -2.47 -7.90 2.27 105.82

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

Sep 07 Sep 06 Sep 05 Sep 04 Sep 03 1.3151 1.3151 1.3175 1.3179 1.3093 0.7604 0.7604 0.7590 0.7588 0.7638

Exchange rates (Quote Media, September 07, 2018) C$ to AUS C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand 1.0561 0.6541 84.1500 14.6224 11.6520 C$ to UK Pound C$ to China Yuan C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won 0.5882 5.1977 54.6885 0.7339 856.3074 US to EURO US to YEN US to Mex Peso US to SA Rand US to AUS 1.3889 0.8602 110.6640 19.2334 15.3294 US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won 0.7735 6.8359 71.9489 0.9651 1125.7000

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

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

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

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

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

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

GLOBAL MINING NEWS · SINCE 1915

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20

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: SEPTEMBER 3–7, 2018 (100s) Stock

WWW.NORTHERNMINER.COM

SEPTEMBER 17–30, 2018 / THE NORTHERN MINER

Week

12-month

Exc Volume High Low Last Change High Low

A 37 Capital 1 60 North Gold* O 74 60 North Gold 3433 66 Resources 32 92 Resources V 1205 O 126 92 Resources* Abacus Mng &Ex* O 173 Abacus Mng &Ex V 119 Abcourt Mines V 195 Abcourt Mines* O 208 Aben Res* O 1548 Aben Res V 10041 O 10 Aberdeen Intl* Aberdeen Intl T 320 Abitibi Royalt* O 8 Abitibi Royalt V 14 AbraPlata Res* O 251 AbraPlata Res V 482 Abzu Gold* O 1 Acacia Mining* O 2 Adamera Mnls V 536 Adamera Mnls* O 620 Adex Mining V 46 Advance Gold V 316 Advanced Expl* O 267 V 878 Advantage Lith Advantage Lith* O 439 Adventus Zinc V 16 V 111 Aethon Mineral Affinity Gold* O 15 African Gold V 685 Aftermath Slvr* O 0 Aftermath Slvr V 22 Agnico Eagle T 3564 Agnico Eagle* N 9630 V 1696 Aguia Resource Aguila Amer Gd V 5 Aida Minerals 2275 AJN Resources 121 Alacer Gold T 1687 Alamos Gold T 3495 Alamos Gold* N 7354 Alaska Pac Egy* O 0 Albert Mining V 182 O 1 Albert Mining* Alchemist Mng 814 Alcoa* N 19257 Alderon Iron* O 7 Alderon Iron T 74 Aldershot Res V 1455 Aldershot Res* O 58 Aldever Res V 125 Aldever Res* O 0 Aldridge Min V 80 Alexandria Min* O 201 Alexandria Min V 2305 Alexco Res* X 930 Alexco Res T 283 Algold Res* O 1 Algold Res V 7 Alianza Min V 121 Alianza Min* O 0 V 2 Allante Potash Allegiant Gold V 112 Allegiant Gold* O 129 Alliance Mng V 856 Alliance Res* D 1475 Almaden Mnls T 59 Almaden Mnls* X 754 Almonty Ind T 81 Almonty Ind * O 8 Alphamin Res V 457 3 Alphamin Res * O Altai Res V 504 Altair Res Inc V 317 Altamira Gold V 637 Altamira Gold* O 32 Altan Nev Mnls V 74 22 Altan Rio Mnls V Altiplano Mnls V 336 O 10 Altiplano Mnls* Altius Mnrls T 242 Alto Vent V 1003 Altura Mng Ltd* O 585 Alturas Mnrls V 548 Altus Strat V 284 Alumina Inc* O 96 ALX Uranium V 453 ALX Uranium* O 65 Am Creek Res V 1522 Am CuMo Mng* O 121 Am CuMo Mng V 329 Am Manganese* O 196 Am Manganese V 1210 AM Resources V 265 Am Sierra Gold* O 1 Amador Gold* O 0 Amarc Res V 38 Amarillo Gold V 34 O 43 Amarillo Gold* Amazing Energy* O 84 Amer Intl Vent* O 35 American Lith* O 216 American Lith V 515 American Pac* O 84 American Pac 491 Americas Silvr T 167 Americas Silvr* X 354 Amerigo Res T 431 Amerigo Res* O 427 Amex Expl* O 2 Amex Expl V 225 Amseco Expl V 7 Anaconda Mng T 344 Anaconda Mng* O 43 Anconia Res V 225 Andes Gold* O 66 O 58 Andover Mng* Anfield Energy* O 215 Anfield Energy V 276 Angel Gold* O 106 Angel Gold V 140 Angkor Gold V 216 Anglo American* O 8 Anglo American* O 2214 Anglo Pac Grp T 1 AngloGold Ash* O 1 AngloGold Ash* N 12578 Angus Ventures V 8 Antioquia Gold* O 90 Antioquia Gold V 325 5 Antler Gold * O Antler Gold V 134 Antler Hill V 0 4 Antofagasta* O APAC Res Inc 59 Apex Res V 28 Apex Res * O 0 Appia Energy* O 26 Appia Energy 184 Applied Mrnls* O 124 Aquila Res* O 174 Aquila Res T 225 Arch Coal* N 923 Archon Mineral* O 3 Archon Mineral V 8 Arco Res* O 294 Arctic Star* O 9 Arctic Star V 253 Arcturus Vent* O 0 Arcus Dev Grp V 88 Arena Mnls V 324 Arena Mnls* O 20 Argentina Lith* O 199 Argentina Lith V 795 Argentum Silvr* O 30 Argentum Silvr V 39 Argex Titanium T 1203 Argex Titanium* O 41 Argo Gold 325 Argonaut Gold* O 72 Argonaut Gold T 725 Argus Metals* O 15 Argus Metals V 198 Arian Silver* O 201 Arianne Phosph* O 12 Arianne Phosph V 130 Arizona Silver* O 67

0.00 0.00 0.30 unch 0.00 0.35 0.12 0.16 0.08 0.08 - 0.06 0.16 0.08 0.15 0.07 0.11 - 0.05 0.24 0.10 0.23 0.18 0.18 - 0.05 0.27 0.14 0.07 0.06 0.06 + 0.01 0.27 0.04 0.05 0.04 0.05 + 0.00 0.20 0.03 0.15 0.11 0.12 - 0.01 0.98 0.10 0.17 0.14 0.16 - 0.01 1.25 0.14 0.06 0.05 0.06 unch 0.00 0.09 0.05 0.05 0.04 0.04 - 0.01 0.07 0.03 0.31 0.21 0.26 - 0.04 0.41 0.08 0.39 0.28 0.34 - 0.05 0.50 0.11 0.07 0.07 0.07 + 0.00 0.16 0.07 0.10 0.09 0.10 unch 0.00 0.21 0.09 7.75 0.00 7.29 - 0.06 8.14 6.00 10.05 9.56 9.65 + 0.07 10.45 7.41 0.07 0.05 0.05 - 0.01 0.42 0.05 0.09 0.07 0.08 - 0.01 0.52 0.07 0.00 0.00 0.00 unch 0.00 0.02 0.00 1.43 0.00 1.43 - 0.04 2.77 1.47 0.06 0.05 0.05 - 0.01 0.20 0.05 0.05 0.04 0.04 - 0.00 0.17 0.04 0.02 0.00 0.01 - 0.01 0.04 0.01 0.10 0.07 0.08 - 0.01 0.60 0.05 0.00 0.00 0.00 - 0.00 0.00 0.00 0.83 0.67 0.70 - 0.11 1.42 0.40 0.64 0.51 0.53 - 0.09 1.14 0.33 0.94 0.89 0.89 - 0.05 1.15 0.51 0.43 0.39 0.39 - 0.02 0.85 0.12 0.02 0.00 0.02 - 0.00 0.04 0.01 0.04 0.03 0.03 unch 0.00 0.08 0.03 0.00 0.00 0.14 unch 0.00 0.14 0.00 0.16 0.00 0.16 + 0.02 0.20 0.04 45.94 42.35 43.73 - 1.25 62.88 42.66 35.22 32.18 33.16 - 1.36 51.81 32.30 0.13 0.11 0.13 + 0.01 0.50 0.10 0.18 0.18 0.18 unch 0.00 0.30 0.17 0.07 0.05 0.05 - 0.01 1.50 0.04 0.16 0.16 0.16 unch 0.00 0.20 0.10 2.39 2.28 2.30 - 0.06 2.97 1.96 5.84 5.41 5.70 - 0.04 10.40 5.41 4.49 4.10 4.32 - 0.07 8.58 4.10 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.03 0.00 0.03 unch 0.00 0.10 0.03 0.03 0.02 0.02 - 0.01 0.08 0.02 0.07 0.05 0.06 unch 0.00 0.35 0.04 45.04 40.10 41.00 - 3.67 62.35 40.03 0.23 0.23 0.23 unch 0.00 0.29 0.16 0.33 0.28 0.29 - 0.04 0.38 0.21 0.24 0.19 0.22 + 0.03 0.24 0.03 0.18 0.15 0.16 + 0.01 0.18 0.02 0.05 0.00 0.05 - 0.01 0.21 0.05 0.03 0.00 0.03 unch 0.00 0.14 0.03 0.13 0.10 0.13 unch 0.00 0.22 0.05 0.04 0.03 0.03 - 0.00 0.09 0.03 0.05 0.04 0.04 unch 0.00 0.12 0.04 1.13 1.00 1.05 - 0.05 1.85 1.00 1.47 1.31 1.39 - 0.03 2.24 1.31 0.43 0.43 0.43 unch 0.00 0.43 0.42 0.58 0.00 0.58 + 0.03 2.00 0.55 0.08 0.07 0.08 + 0.01 0.15 0.05 0.00 0.00 0.06 unch 0.00 0.11 0.04 0.10 0.10 0.10 unch 0.00 0.11 0.06 0.48 0.46 0.47 - 0.01 0.75 0.33 0.38 0.35 0.36 - 0.01 0.58 0.00 0.03 0.02 0.02 - 0.01 0.06 0.01 20.43 19.65 19.85 - 0.25 21.90 15.55 0.90 0.83 0.88 + 0.04 1.59 0.75 0.69 0.62 0.66 + 0.02 1.32 0.56 0.88 0.74 0.78 - 0.03 0.98 0.35 0.62 0.61 0.61 - 0.01 0.73 0.29 0.28 0.24 0.25 - 0.02 0.44 0.22 0.21 0.19 0.19 - 0.01 0.35 0.18 0.09 0.08 0.08 unch 0.00 0.47 0.07 0.03 0.00 0.03 unch 0.00 0.23 0.03 0.12 0.10 0.10 - 0.02 0.35 0.09 0.09 0.07 0.08 - 0.00 0.29 0.07 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.02 0.01 0.01 - 0.01 0.02 0.01 0.30 0.23 0.29 + 0.02 0.64 0.11 0.21 0.21 0.21 unch 0.00 0.46 0.15 12.55 11.95 12.09 - 0.28 15.58 11.10 0.03 0.03 0.03 unch 0.00 0.13 0.03 0.20 0.16 0.17 - 0.03 0.40 0.14 0.01 0.01 0.01 unch 0.00 0.06 0.01 0.11 0.09 0.09 - 0.02 0.15 0.08 8.50 7.73 7.80 - 0.55 8.97 6.56 0.09 0.00 0.08 + 0.01 0.11 0.06 0.06 0.05 0.06 - 0.00 0.08 0.05 0.04 0.03 0.03 - 0.01 0.08 0.03 0.07 0.06 0.07 + 0.00 0.15 0.05 0.09 0.08 0.09 + 0.01 0.18 0.06 0.16 0.13 0.15 + 0.02 0.28 0.10 0.21 0.17 0.20 + 0.02 0.35 0.14 0.22 0.18 0.19 + 0.01 0.31 0.12 0.01 0.00 0.01 + 0.00 0.04 0.01 0.00 0.00 0.10 unch 0.00 0.16 0.06 0.08 0.07 0.07 - 0.01 0.24 0.07 0.24 0.00 0.24 unch 0.00 0.42 0.19 0.19 0.00 0.17 + 0.00 0.32 0.15 0.29 0.24 0.26 + 0.01 0.94 0.20 0.01 0.01 0.01 - 0.00 0.06 0.01 0.37 0.34 0.37 - 0.00 0.69 0.18 0.49 0.44 0.48 + 0.01 0.50 0.20 0.09 0.08 0.08 - 0.01 0.32 0.08 0.13 0.09 0.09 - 0.04 0.41 0.10 3.22 2.73 2.94 - 0.10 6.07 2.73 2.45 2.05 2.25 - 0.17 5.04 2.05 0.80 0.72 0.73 - 0.04 1.35 0.65 0.61 0.54 0.56 - 0.02 1.09 0.51 0.05 0.05 0.05 unch 0.00 0.12 0.05 0.06 0.06 0.06 unch 0.00 0.22 0.06 0.29 0.13 0.17 - 0.13 0.29 0.01 0.28 0.26 0.27 - 0.01 0.56 0.24 0.21 0.19 0.20 - 0.01 0.48 0.16 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.01 0.00 0.01 - 0.00 0.02 0.00 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.31 0.25 0.25 - 0.03 0.48 0.15 0.42 0.33 0.33 - 0.03 0.59 0.19 0.03 0.02 0.03 + 0.01 0.08 0.02 0.03 0.03 0.03 unch 0.00 0.12 0.03 0.17 0.15 0.17 - 0.01 0.30 0.14 19.96 19.25 19.25 - 0.61 26.05 17.15 10.18 9.47 9.58 - 0.44 13.13 8.67 2.15 2.15 2.15 unch 0.00 3.36 1.31 7.38 7.38 7.38 unch 0.00 10.47 7.38 8.09 7.58 7.83 - 0.08 12.00 7.08 0.42 0.42 0.42 unch 0.00 0.50 0.33 0.03 0.03 0.03 unch 0.00 0.08 0.02 0.04 0.03 0.03 - 0.01 0.10 0.03 0.13 0.13 0.13 unch 0.00 0.13 0.10 0.20 0.13 0.15 - 0.02 0.50 0.11 0.00 0.00 0.10 unch 0.00 0.33 0.02 10.64 0.00 10.08 - 0.52 15.70 10.08 0.20 0.20 0.20 unch 0.00 0.50 0.20 0.08 0.07 0.08 + 0.01 0.15 0.07 0.00 0.00 0.07 unch 0.00 0.09 0.04 0.16 0.13 0.13 - 0.03 0.19 0.07 0.20 0.17 0.19 - 0.01 0.25 0.10 0.16 0.11 0.13 unch 0.00 0.25 0.02 0.20 0.17 0.18 - 0.01 0.30 0.17 0.26 0.23 0.24 unch 0.00 0.39 0.22 92.24 87.48 90.89 + 2.22 102.61 68.95 0.50 0.50 0.50 unch 0.00 1.00 0.50 0.68 0.65 0.68 + 0.03 1.31 0.62 0.76 0.67 0.69 - 0.07 1.39 0.62 0.07 0.07 0.07 - 0.00 0.20 0.07 0.10 0.09 0.09 - 0.01 0.26 0.08 0.00 0.00 0.11 unch 0.00 0.11 0.10 0.04 0.04 0.04 unch 0.00 0.19 0.04 0.08 0.07 0.08 unch 0.00 0.14 0.06 0.05 0.00 0.05 + 0.00 0.11 0.04 0.10 0.07 0.07 - 0.02 0.48 0.08 0.14 0.10 0.11 - 0.02 0.60 0.08 0.14 0.14 0.14 unch 0.00 0.24 0.11 0.20 0.18 0.18 - 0.02 0.33 0.15 0.05 0.04 0.04 unch 0.00 0.08 0.03 0.03 0.03 0.03 - 0.00 0.05 0.02 0.11 0.09 0.11 + 0.02 0.22 0.07 1.43 1.33 1.34 - 0.07 2.40 1.33 1.88 1.75 1.77 - 0.05 2.89 1.75 0.12 0.12 0.12 unch 0.00 0.55 0.06 0.20 0.16 0.20 + 0.04 0.75 0.08 0.00 0.00 0.00 - 0.00 0.01 0.00 0.34 0.31 0.34 + 0.03 0.67 0.30 0.48 0.40 0.48 + 0.06 0.83 0.39 0.09 0.09 0.09 + 0.00 0.27 0.06

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Arizona Silver V 125 Armor Mnrls V 16 Asanko Gold T 1445 Asanko Gold* X 1120 Asante Gold 59 Asante Gold* O 20 Asbestos Corp V 0 Ascot Res V 251 Ascot Res * O 7 Ashanti Sanko V 10 AsiaBaseMetals V 35 Asian Minl Res V 438 Aston Bay* O 20 Aston Bay V 829 Astorius Res V 639 Astur Gold V 89 ATAC Res V 259 Atacama Res* O 8551 Athabasca Mnls* O 49 Athabasca Mnls V 883 Athena Silver* O 56 Atico Mng* O 92 Atico Mng V 206 Atlanta Gold* O 18 Atlanta Gold V 138 Atlantic Gold V 430 Atlantic Ind V 30 Atlatsa Res* O 474 Atlatsa Res T 364 Atom Energy * O 12 Aton Res Inc* O 100 Aton Res Inc V 468 Aura Mnls* O 15 Aura Mnls T 122 Aura Silver Rs V 1620 Auramex Res V 230 Aurania Res* O 58 Aurania Res V 53 Aurcana Corp* O 35 AurCrest Gold V 58 Aurion Res V 332 Aurion Res * O 129 Aurora Royal V 78 AURYN Mining* O 27 Auryn Res T 207 Auryn Res* X 247 Austin Res V 25 Austral Gold* O 14 Austral Gold V 41 Australian Mns* O 70 Auxico Res 1419 Avalon Adv Mat T 798 Avalon Adv Mat* O 288 Avarone Metals* O 9 Avarone Metals 549 Avesoro Res T 5 Avesoro Res* O 1 Avidian Gold V 935 Avino Silver* X 382 Avino Silver T 122 Avrupa Mnls V 816 Avrupa Mnls* O 405 Awale Res V 955 Axiom Mng* O 1 Axmin Inc* O 24 Axmin Inc V 203 Azarga Metals V 54 Azarga Metals* O 6 Azarga Uranium* O 125 Azarga Uranium T 981 Aziel Corp* O 0 Azimut Expl V 82 Azincourt Ener* O 157 Azincourt Ener V 2103 Aztec Minerals V 17 Aztec Minerals* O 24 Azteca Gold* O 20 Azucar Min V 138 Azucar Min* O 266

0.14 0.11 0.12 - 0.02 0.32 0.08 0.43 0.37 0.37 unch 0.00 0.73 0.30 1.10 0.96 1.02 - 0.06 1.79 0.55 0.85 0.72 0.75 - 0.08 1.38 0.43 0.04 0.03 0.04 + 0.02 0.12 0.03 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.00 0.00 0.50 unch 0.00 0.90 0.21 0.90 0.81 0.90 + 0.07 1.76 0.78 0.66 0.00 0.65 - 0.01 1.42 0.60 0.05 0.05 0.05 unch 0.00 0.10 0.02 0.39 0.33 0.33 - 0.06 0.40 0.13 0.01 0.01 0.01 - 2.00 8.00 1.00 0.10 0.08 0.08 - 0.02 0.20 0.08 0.13 0.11 0.12 - 0.01 0.29 0.10 0.03 0.03 0.03 unch 0.00 0.20 0.03 0.30 0.24 0.25 - 0.05 0.40 0.15 0.53 0.48 0.53 + 0.02 0.81 0.46 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.25 0.19 0.20 + 0.01 0.25 0.09 0.32 0.25 0.26 - 0.04 0.32 0.12 0.04 0.03 0.04 + 0.01 0.33 0.02 0.34 0.30 0.31 - 0.02 0.66 0.30 0.46 0.39 0.39 - 0.04 0.80 0.39 0.03 0.03 0.03 - 0.00 0.06 0.03 0.05 0.00 0.04 - 0.01 0.07 0.04 1.84 1.64 1.73 - 0.02 1.99 1.30 0.02 0.02 0.02 unch 0.00 0.09 0.01 0.03 0.00 0.03 unch 0.00 0.04 0.01 0.04 0.04 0.04 unch 0.00 0.06 0.02 0.01 0.00 0.01 unch 0.00 0.26 0.00 0.04 0.04 0.04 unch 0.00 0.04 0.02 0.05 0.04 0.05 - 0.01 0.05 0.02 1.46 1.38 1.46 unch 0.00 2.38 1.22 1.91 1.75 1.75 - 0.16 3.00 1.46 0.03 0.02 0.03 + 0.01 0.05 0.02 0.04 0.04 0.04 - 0.01 0.10 0.03 2.09 1.56 1.76 - 0.31 6.06 1.03 2.75 2.07 2.32 - 0.38 7.57 1.51 0.18 0.00 0.15 + 0.04 0.25 0.00 0.03 0.03 0.03 unch 0.00 0.04 0.02 1.20 1.03 1.13 + 0.06 3.49 0.67 0.92 0.79 0.88 + 0.07 2.82 0.52 0.10 0.08 0.08 unch 0.00 0.24 0.03 1.50 0.97 1.43 + 0.44 5.00 0.16 1.45 1.35 1.35 - 0.02 3.09 1.26 1.09 1.00 1.02 - 0.04 2.54 0.97 0.02 0.02 0.02 - 0.01 0.04 0.01 0.07 0.00 0.07 + 0.02 0.16 0.04 0.09 0.08 0.09 unch 0.00 0.17 0.07 0.07 0.05 0.05 - 0.02 0.33 0.05 0.18 0.14 0.16 - 0.01 0.45 0.14 0.09 0.08 0.08 + 0.01 0.16 0.07 0.07 0.05 0.06 - 0.01 0.13 0.05 0.03 0.03 0.03 unch 0.00 0.09 0.01 0.06 0.05 0.05 unch 0.00 0.14 0.02 3.42 3.36 3.39 + 0.02 5.99 2.50 2.58 2.58 2.58 unch 0.00 3.65 1.89 0.60 0.50 0.55 - 0.05 0.70 0.20 1.01 0.87 0.87 - 0.11 1.76 0.85 1.30 1.14 1.14 - 0.13 2.14 1.15 0.08 0.07 0.07 - 0.01 0.13 0.06 0.07 0.05 0.06 - 0.01 0.10 0.05 0.13 0.13 0.13 unch 0.00 0.48 0.08 0.07 0.07 0.07 unch 0.00 0.19 0.07 0.16 0.15 0.16 + 0.00 0.19 0.02 0.22 0.18 0.21 + 0.03 0.24 0.03 0.12 0.00 0.11 - 0.01 0.18 0.10 0.10 0.00 0.07 - 0.03 0.16 0.05 0.22 0.19 0.22 + 0.02 0.22 0.14 0.29 0.24 0.29 + 0.02 0.34 0.18 0.00 0.00 0.70 unch 0.00 9.10 0.60 0.28 0.26 0.27 - 0.01 0.48 0.24 0.06 0.05 0.05 - 0.01 0.23 0.04 0.09 0.07 0.07 - 0.02 0.37 0.05 0.22 0.21 0.21 - 0.01 0.38 0.15 0.17 0.13 0.16 - 0.01 0.30 0.13 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.77 0.65 0.66 - 0.09 1.75 0.50 0.59 0.49 0.50 - 0.07 1.44 0.38

B2Gold T 7671 B2Gold* X 10322 Balmoral Res* O 169 Balmoral Res T 608 Balto Res V 238 Bankers Cobalt V 350 Bankers Cobalt* O 98 Bannerman Res* O 425 Banyan Gold V 218 Banyan Gold* O 90 Bard Ventures* O 4 Bard Ventures V 1322 Barker Mnrls V 86 Barkerville Go V 2278 Barkerville Go* O 141 Baroyeca Go&Si* O 70 Baroyeca Go&Si V 796 Barrick Gold* N 61082 Barrick Gold T 18746 Barsele Min* O 22 Barsele Min V 376 Batero Gold V 59 Bayhorse Silvr* O 15 Bayhorse Silvr V 520 BC Moly V 53 BCM Res V 89 BE Res V 2 Bear Creek Mng V 32 Bearclaw Cap V 100 Bearing Lith* O 87 Bearing Lith V 78 Beaufield Res V 1753 Beaufield Res* O 74 Beeston Ent* O 1242 Bell Copper* O 217 Belmont Res V 1172 Belo Sun Mng T 1161 BeMetals V 810 Benchmark Met V 959 Benton Res V 675 Benz Mining V 85 Berkeley Egy* O 20 Berkwood Res * O 7 Berkwood Res V 308 Bitterroot Res V 846 Bitterroot Res* O 157 Black Dragon V 728 Black Dragon* O 55 Black Hills* N 1808 Black Iron* O 45 Black Iron T 100 Black Isle Res V 160 Black Mam Mtls V 13 Black Sea Cop V 5 Black Sea Cop* O 3 Black Tusk Res 508 Blackheath Res V 945 Blackrock Gold V 436 Blackrock Gold* O 11 Blind Crk Res V 46 BLOX Inc* O 1 Blue Moon Zinc* O 282 Blue Moon Zinc V 756 Blue Rvr Res V 1405 Blue Sky Uran* O 145 Blue Sky Uran V 336 Bluenose Gold V 1 Bluestone Res* O 9 Bluestone Res V 133 Bold Vent V 341 Bonanza Gldfds* O 3180 BonTerra Res V 3154 BonTerra Res* O 476 Boreal Metals V 508 Borneo Res Inv* O 150 Bravada Gold V 681 Bravada Gold* O 385 Braveheart Res V 218 Braveheart Res* O 7 Bravo Multinat* O 10 Brazil Mnrls* O 23425 Brigadier Gold V 46 BrightRock Gld* O 25 Brilliant Sand* O 2 Britannia Mng* O 238 Brixton Mtls V 231 Brixton Mtls* O 80 Broadway Gold* O 36 Broadway Gold V 29

3.10 2.94 2.98 - 0.08 4.06 2.77 2.36 2.23 2.25 - 0.09 3.30 2.10 0.12 0.10 0.12 - 0.00 0.57 0.10 0.16 0.14 0.16 + 0.01 0.69 0.14 0.09 0.00 0.08 + 0.01 0.38 0.04 0.09 0.08 0.08 - 0.02 0.85 0.08 0.07 0.05 0.05 - 0.01 0.68 0.03 0.05 0.04 0.04 + 0.00 0.06 0.03 0.07 0.06 0.06 - 0.01 0.13 0.04 0.04 0.04 0.04 unch 0.00 0.10 0.03 0.10 0.10 0.10 unch 0.00 0.10 0.02 0.16 0.10 0.16 + 0.04 0.15 0.02 0.01 0.00 0.01 unch 0.00 0.03 0.01 0.45 0.35 0.45 + 0.08 0.91 0.35 0.33 0.26 0.33 + 0.04 0.75 0.26 0.02 0.02 0.02 unch 0.00 0.02 0.01 0.03 0.02 0.02 - 0.01 0.04 0.01 10.62 9.64 10.05 - 0.37 18.24 9.64 13.84 12.69 13.28 - 0.07 22.13 12.69 0.46 0.43 0.46 + 0.03 0.72 0.42 0.67 0.56 0.67 + 0.07 1.03 0.52 0.07 0.07 0.07 unch 0.00 0.12 0.06 0.09 0.07 0.07 - 0.01 0.22 0.06 0.11 0.10 0.10 unch 0.00 0.27 0.09 0.06 0.06 0.06 unch 0.00 0.16 0.04 0.21 0.15 0.17 - 0.03 0.26 0.08 0.00 0.00 0.05 unch 0.00 0.08 0.04 1.72 1.49 1.57 - 0.11 2.63 1.44 0.05 0.04 0.04 unch 0.00 0.06 0.03 0.24 0.20 0.23 - 0.00 0.80 0.02 0.31 0.28 0.30 + 0.01 1.02 0.24 0.11 0.09 0.11 + 0.02 0.20 0.06 0.09 0.06 0.09 + 0.02 0.17 0.04 0.02 0.01 0.01 - 0.01 0.02 0.00 0.06 0.04 0.05 - 0.01 0.16 0.03 0.07 0.06 0.07 unch 0.00 0.10 0.02 0.25 0.21 0.21 - 0.03 0.67 0.17 0.20 0.19 0.20 - 0.01 0.32 0.15 0.29 0.25 0.27 - 0.01 0.38 0.15 0.06 0.05 0.05 - 0.01 0.09 0.05 0.07 0.07 0.07 unch 0.00 0.47 0.06 0.52 0.52 0.52 unch 0.00 0.88 0.50 0.06 0.06 0.06 - 0.00 0.42 0.05 0.09 0.07 0.08 - 0.01 0.52 0.07 0.09 0.07 0.09 + 0.01 0.28 0.03 0.07 0.06 0.07 - 0.00 0.24 0.03 0.19 0.18 0.19 unch 0.00 0.39 0.14 0.13 0.10 0.13 unch 0.00 0.13 0.03 59.94 58.42 59.37 + 0.52 70.97 50.49 0.06 0.06 0.06 unch 0.00 0.11 0.06 0.08 0.08 0.08 unch 0.00 0.17 0.08 0.04 0.04 0.04 unch 0.00 0.06 0.03 0.11 0.11 0.11 unch 0.00 0.25 0.06 0.05 0.00 0.05 + 0.01 0.19 0.04 0.04 0.00 0.03 + 0.00 0.15 0.03 0.24 0.19 0.19 - 0.05 0.29 0.12 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.06 0.05 0.05 - 0.01 0.16 0.05 0.04 0.04 0.04 - 0.00 0.12 0.04 0.07 0.00 0.07 + 0.02 0.38 0.05 0.23 0.23 0.23 unch 0.00 0.30 0.07 0.06 0.05 0.05 - 0.00 0.11 0.03 0.08 0.07 0.07 - 0.01 0.14 0.03 0.04 0.03 0.03 - 0.01 0.05 0.01 0.15 0.11 0.12 - 0.01 0.25 0.10 0.19 0.15 0.15 - 0.03 0.32 0.12 0.14 0.14 0.14 unch 0.00 0.17 0.00 1.07 1.04 1.06 - 0.02 1.35 0.86 1.39 1.32 1.39 unch 0.00 1.60 0.95 0.03 0.02 0.02 unch 0.00 0.05 0.02 0.00 0.00 0.00 + 0.00 0.00 0.00 0.40 0.31 0.38 + 0.02 0.72 0.30 0.30 0.23 0.29 + 0.01 0.57 0.23 0.17 0.11 0.12 - 0.03 0.40 0.10 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.09 0.08 0.08 + 0.01 0.21 0.07 0.07 0.05 0.06 + 0.00 0.17 0.05 0.10 0.06 0.09 + 0.01 0.12 0.04 0.07 0.07 0.07 unch 0.00 0.08 0.06 0.09 0.00 0.06 - 0.03 2.70 0.05 0.00 0.00 0.00 + 0.00 0.04 0.00 0.22 0.20 0.20 - 0.02 0.26 0.08 0.00 0.00 0.00 - 0.00 0.01 0.00 0.05 0.05 0.05 unch 0.00 0.12 0.01 0.00 0.00 0.00 - 0.00 0.01 0.00 0.23 0.20 0.23 + 0.01 0.49 0.17 0.17 0.00 0.17 - 0.00 0.39 0.13 0.11 0.08 0.09 - 0.01 0.48 0.07 0.14 0.12 0.13 - 0.01 0.58 0.10

B

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Brookmount Exp* O 664 Bryn Res* O 453 Buccaneer Gold V 140 Buenaventura* N 4605 Buffalo Coal V 932 Bullfrog Gold* O 249 Bunker Hill 90 BWR Explor V 420

0.02 0.01 0.01 + 0.00 0.04 0.00 0.02 0.02 0.02 - 0.00 0.06 0.00 0.06 0.06 0.06 unch 0.00 0.18 0.03 12.69 12.07 12.42 - 0.17 16.80 11.67 0.01 0.00 0.01 unch 0.00 0.03 0.01 0.09 0.07 0.08 - 0.00 0.18 0.05 0.53 0.34 0.36 - 0.13 3.15 0.34 0.04 0.03 0.04 unch 0.00 0.10 0.03

Cabral Gold V 141 Cabral Gold* O 44 Cache Expl* O 25 Cache Expl V 1308 Cadence Min* O 1 Cadillac Vent V 220 Caledonia Mng* X 78 28 Caledonia Mng T Calibre Mng V 468 California Gld V 126 California Go* O 34 Callinex Mines* O 122 V 367 Callinex Mines Cameco Corp* N 10827 Cameco Corp T 4990 O 64 Cameo Cobalt* Cameo Cobalt V 2151 Camino Mnls* O 5 Camino Mnls V 112 Camrova Res V 67 Camrova Res* O 6 V 2039 Canada Cobalt Canada Cobalt * O 443 Canada One* O 39 Canada One V 203 Canadian Mng* O 24 CanAlaska Uran* O 119 V 283 CanAlaska Uran CanAm Coal* O 521 Canamex Gold 110 Canamex Gold* O 125 Canarc Res T 200 Canarc Res* O 68 Canasil Res V 159 O 29 Candelaria Mg* Candelaria Mg V 269 Candente Coppr T 756 V 104 Candente Gold Candente Gold* O 9 Canex Energy V 1 CANEX Metals V 294 CANEX Metals * O 10 O 2 CaNickel Mng* CaNickel Mng V 4 Canstar Res V 14 Canstar Res* O 0 Canterra Mnls V 26 48 Cantex Mn Dev V Canuc Res V 223 Capstone Mng T 1003 Cardero Res V 148 Cardero Res* O 10 Cardinal Res T 207 Cariboo Rose V 104 Carrara Explor 6604 Cartier Iron 225 Cartier Res V 279 Carube Copper V 355 Carube Copper* O 34 Casa Minerals V 310 Casablanca Mng* O 11 Cascadero Copp V 236 Cassius Vents V 162 Castle Peak Mg V 710 Cautivo Mining 24 O 0 Cautivo Mining* Cda Carbon V 271 Cda Carbon* O 101 206 Cda Rare Earth V 60 Cda Rare Earth* O Cdn Intl Mnrls* O 0 15 Cdn Intl Mnrls V Cdn Metals 304 Cdn Orebodies V 21 O 3 Cdn Orebodies* Cdn Zinc T 633 Cdn Zinc* O 279 CellCube Enrgy 2154 O 364 CellCube Enrgy* Centamin T 87 Centaurus Diam* O 77 O 190 Centenera Mng* Centenera Mng V 186 Centerra Gold T 4025 Central Iron V 79 Centurion Mnls V 262 Century Cobalt* O 164 Century Global T 168 O 41 Century Global* Cerro Grande 55 Cerro Mng* O 0 Cerro Mng V 87 Ceylon Graph V 25 Chakana Copper V 196 Chakana Copper* O 107 Chalice Gold M* O 11 Chalice Gold M T 184 Champion Bear V 274 Champion Bear* O 324 Champion Iron T 716 Champion Iron* O 38 Chantrell Vent V 2 Chatham Rock V 8 Chatham Rock* O 0 Chesapeake Gld* O 11 Chesapeake Gld V 8 Chevron Corp* N 29263 Chiboug Ind Mn V 68 V 0 Chilean Metals Chimata Gold 189 China Gold Int T 493 Cicada Vents V 270 CIM Intl Grp 4 Cipher Res V 127 Claim Post Res V 1022 Clarmin Explor V 50 Clean Comm V 169 Clean Comm* O 13 V 1345 Cleghorn Mnls Cleghorn Mnls* O 45 Cleveland-Clif* N 50849 Cliffmont Res V 8 Clifton Mng* O 206 Cloud Peak En* N 1531 CMC Metals* O 20 CMC Metals V 805 378 CMX Gold & Sil CNRP Mng 513 CNRP Mng* O 326 Cobalt 27 Cap V 1513 Cobalt Block V 347 Cobalt Block* O 27 Cobalt Pwr Grp* O 123 Cobalt Pwr Grp V 2626 Coeur Mng* N 14258 Colibri Res* O 10 Colibri Res V 854 Colombia Crest V 11 Colombia Crest* O 24 Colonial Coal V 178 Colorado Gold* O 0 Colorado Res* O 169 Colorado Res V 1823 Columbus Gold T 221 Columbus Gold* O 359 Commander Res* O 30 Commander Res V 42 Commerce Res V 400 Commerce Res* O 86 Compass Gold* O 1 Compass Gold V 468 Comstock Mng* X 2280 Comstock Mtls V 114 Comstock Mtls * O 7 Condor Gold T 1 Condor Res V 153 Condor Res* O 6 Confedertn Ml* O 10 Confedertn Mls V 27

0.25 0.24 0.25 unch 0.00 0.50 0.20 0.19 0.18 0.19 - 0.00 0.32 0.17 0.03 0.03 0.03 unch 0.00 0.11 0.02 0.05 0.04 0.04 unch 0.00 0.13 0.04 1.21 0.00 1.21 - 0.08 2.22 1.07 0.03 0.03 0.03 + 0.01 0.06 0.03 6.73 6.01 6.11 - 0.05 9.94 5.17 8.84 8.00 8.00 - 0.37 12.50 6.70 0.07 0.06 0.06 - 0.01 0.16 0.05 0.22 0.00 0.20 - 0.02 0.64 0.19 0.17 0.15 0.15 - 0.02 0.49 0.15 0.11 0.09 0.11 unch 0.00 0.38 0.09 0.15 0.13 0.13 - 0.01 0.47 0.12 10.45 9.39 9.72 - 0.69 12.19 7.68 13.63 12.34 12.82 - 0.74 15.95 9.90 0.25 0.20 0.21 - 0.03 0.99 0.14 0.32 0.27 0.29 - 0.03 0.45 0.10 0.11 0.00 0.09 - 0.01 0.53 0.09 0.14 0.00 0.13 - 0.01 0.71 0.13 0.08 0.08 0.08 unch 0.00 0.16 0.06 0.07 0.00 0.07 + 0.01 0.15 0.00 0.70 0.56 0.66 - 0.04 0.90 0.15 0.53 0.44 0.47 - 0.06 0.79 0.01 0.07 0.07 0.07 unch 0.00 0.32 0.05 0.10 0.08 0.08 - 0.02 0.52 0.07 0.78 0.70 0.76 + 0.06 0.78 0.20 0.26 0.21 0.25 + 0.00 0.37 0.21 0.34 0.28 0.32 - 0.01 0.45 0.26 0.00 0.00 0.00 + 0.00 0.01 0.00 0.10 0.00 0.10 + 0.01 0.17 0.09 0.07 0.07 0.07 unch 0.00 0.22 0.06 0.05 0.05 0.05 unch 0.00 0.11 0.04 0.04 0.03 0.04 + 0.00 0.08 0.03 0.11 0.09 0.10 + 0.01 0.19 0.07 0.33 0.25 0.25 - 0.08 0.71 0.06 0.50 0.32 0.41 - 0.10 0.99 0.23 0.08 0.07 0.08 unch 0.00 0.21 0.07 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.02 0.02 0.02 unch 0.00 0.04 0.00 0.00 0.00 0.15 unch 0.00 0.40 0.14 0.06 0.00 0.04 - 0.01 0.08 0.03 0.04 0.03 0.04 + 0.00 0.06 0.02 0.08 0.08 0.08 unch 0.00 0.18 0.08 0.10 0.10 0.10 unch 0.00 0.24 0.09 0.23 0.19 0.20 - 0.03 0.45 0.17 0.00 0.00 0.16 unch 0.00 0.19 0.16 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.21 0.00 0.21 + 0.02 0.35 0.15 0.12 0.11 0.12 + 0.02 0.50 0.10 0.83 0.77 0.77 - 0.06 1.62 0.77 0.14 0.12 0.13 + 0.01 0.22 0.09 0.10 0.09 0.10 unch 0.00 0.17 0.07 0.42 0.40 0.40 - 0.02 1.05 0.37 0.03 0.02 0.02 unch 0.00 0.15 0.02 0.05 0.04 0.04 - 0.01 0.18 0.03 0.08 0.08 0.08 unch 0.00 0.25 0.06 0.15 0.14 0.14 - 0.01 0.30 0.12 0.07 0.06 0.06 - 0.01 0.10 0.05 0.05 0.04 0.04 - 0.01 0.07 0.03 0.21 0.14 0.17 + 0.02 0.22 0.07 0.01 0.01 0.01 unch 0.00 0.15 0.00 0.04 0.04 0.04 unch 0.00 0.16 0.04 0.06 0.05 0.05 unch 0.00 0.07 0.03 0.02 0.02 0.02 + 0.01 0.03 0.02 0.39 0.00 0.39 + 0.21 0.85 0.15 0.15 0.15 0.15 unch 0.00 0.43 0.20 0.12 0.10 0.10 - 0.03 0.17 0.04 0.10 0.08 0.08 - 0.01 0.13 0.04 0.07 0.05 0.06 + 0.01 0.10 0.03 0.05 0.03 0.04 - 0.01 0.08 0.02 0.00 0.00 0.15 unch 0.00 0.41 0.06 0.16 0.00 0.16 unch 0.00 0.40 0.11 0.09 0.09 0.09 - 0.01 0.20 0.05 0.25 0.20 0.24 + 0.04 0.39 0.14 0.15 0.15 0.15 unch 0.00 0.27 0.14 0.12 0.11 0.11 - 0.01 0.23 0.11 0.10 0.08 0.08 - 0.01 0.19 0.08 0.20 0.18 0.18 - 0.03 0.76 0.14 0.16 0.13 0.14 - 0.01 0.60 0.11 1.75 1.54 1.54 - 0.21 2.96 1.57 0.18 0.12 0.16 unch 0.00 0.20 0.04 0.07 0.01 0.05 - 0.02 0.21 0.01 0.09 0.08 0.08 - 0.01 0.25 0.08 5.58 5.18 5.25 - 0.33 9.35 5.19 0.03 0.02 0.03 - 0.01 0.07 0.01 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.19 0.14 0.18 - 0.01 0.20 0.01 0.18 0.15 0.18 - 0.01 0.29 0.13 0.14 0.13 0.14 unch 0.00 0.24 0.13 0.01 0.01 0.01 - 0.01 0.03 0.01 0.00 0.00 0.12 unch 0.00 0.13 0.02 0.20 0.17 0.18 + 0.02 0.22 0.04 0.18 0.00 0.16 - 0.02 0.26 0.14 0.49 0.46 0.48 unch 0.00 1.05 0.46 0.38 0.35 0.37 - 0.00 0.79 0.35 0.10 0.00 0.10 unch 0.00 0.25 0.10 0.14 0.13 0.13 - 0.01 0.33 0.13 0.20 0.17 0.20 unch 0.00 0.23 0.10 0.16 0.15 0.15 - 0.01 0.18 0.10 1.26 1.17 1.25 unch 0.00 1.59 0.98 0.97 0.91 0.97 + 0.02 1.22 0.79 0.00 0.00 0.11 unch 0.00 0.12 0.05 0.15 0.14 0.14 - 0.01 0.54 0.14 0.00 0.00 0.19 unch 0.00 0.40 0.19 1.53 1.38 1.40 - 0.05 3.23 1.29 1.99 0.00 1.85 + 0.01 4.00 1.75 119.63 113.39 114.60 - 3.86 133.88 108.90 0.06 0.06 0.06 unch 0.00 0.08 0.05 0.00 0.00 0.09 unch 0.00 0.40 0.08 0.13 0.12 0.13 unch 0.00 0.15 0.06 1.84 1.75 1.81 - 0.02 3.19 1.75 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.21 0.21 0.21 unch 0.00 0.50 0.08 0.13 0.09 0.09 - 0.04 0.33 0.07 0.18 0.14 0.17 + 0.02 0.27 0.03 0.11 0.11 0.11 unch 0.00 0.50 0.10 0.04 0.04 0.04 - 0.01 0.21 0.04 0.02 0.02 0.02 - 0.00 0.16 0.02 0.10 0.08 0.10 unch 0.00 0.14 0.05 0.08 0.08 0.08 unch 0.00 0.11 0.04 10.84 9.50 10.70 + 0.65 11.44 5.60 0.60 0.00 0.50 - 0.20 0.90 0.15 0.08 0.07 0.08 + 0.00 0.13 0.05 2.39 2.25 2.30 - 0.06 5.70 2.22 0.01 0.01 0.01 unch 0.00 0.08 0.01 0.02 0.02 0.02 unch 0.00 0.10 0.02 0.07 0.04 0.07 + 0.02 0.12 0.04 0.64 0.56 0.64 + 0.02 0.68 0.34 0.49 0.40 0.49 + 0.01 1.98 0.02 6.50 4.86 5.12 - 1.28 14.00 5.52 0.20 0.17 0.18 - 0.02 0.40 0.01 0.15 0.13 0.14 - 0.01 0.32 0.02 0.05 0.04 0.04 - 0.01 0.29 0.03 0.06 0.05 0.05 - 0.02 0.35 0.05 5.79 5.18 5.54 - 0.14 9.87 5.18 0.02 0.02 0.02 unch 0.00 0.11 0.01 0.04 0.03 0.04 + 0.01 0.16 0.03 0.07 0.07 0.07 unch 0.00 0.40 0.05 0.05 0.00 0.05 - 0.00 0.10 0.00 0.29 0.24 0.29 + 0.01 0.44 0.08 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.11 0.08 0.09 - 0.01 0.37 0.07 0.16 0.11 0.11 - 0.01 0.46 0.09 0.30 0.26 0.28 + 0.02 0.92 0.18 0.22 0.19 0.21 + 0.02 0.73 0.14 0.11 0.11 0.11 unch 0.00 0.16 0.00 0.16 0.15 0.15 - 0.02 0.30 0.13 0.07 0.06 0.06 - 0.01 0.10 0.06 0.04 0.00 0.04 unch 0.00 0.08 0.04 0.30 0.25 0.25 - 0.06 0.30 0.30 0.40 0.00 0.40 unch 0.00 0.80 0.34 0.18 0.15 0.15 - 0.02 0.96 0.15 0.05 0.04 0.04 - 0.01 0.16 0.04 0.03 0.03 0.03 + 0.00 0.13 0.03 0.72 0.72 0.72 unch 0.00 1.75 0.47 0.06 0.05 0.05 - 0.01 0.14 0.05 0.05 0.05 0.05 unch 0.00 0.10 0.04 0.23 0.23 0.23 unch 0.00 0.60 0.21 0.33 0.30 0.30 - 0.02 0.81 0.27

C

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Conquest Res V 262 V 507 Cons Woodjam CONSOL Coal Rs* N 170 N 1215 CONSOL Energy* N 9203 CONSOL Energy* V 67 Constantine Mt O 26 Constantine Mt* O 25 Contact Gold* Contact Gold V 90 O 16 Contact Mnrls* Contintl Gold T 2058 Contintl Gold* O 253 Contintl Prec* O 0 Contintl Prec V 2 688 Copper Fox Mtl V 51 Copper Fox Mtl* O 150 Copper Lake Rs V 813 Copper Mtn Mng T Copper Mtn Mng* O 129 32 Copper North M* O 764 Copper North M V Copper One V 55 8 Copper One * O 31 Copper Reef Mg Copperbank Res 579 O 128 Copperbank Res* 8 Coral Gold * O Coral Gold V 209 Cordoba Mnls V 598 O 113 Cordoba Mnls* Core Gold V 261 Core Gold* O 34 Core Lithium* O 2 14019 V Cornerstone Ca O 354 Cornerstone Ca* O 222 Cornerstone Mt* V 672 Cornerstone Mt Coro Mining T 2626 Corsa Coal V 158 5 Corsa Coal * O Corvus Gold T 356 Corvus Gold* O 74 CR Capital V 1440 Critical Elem V 357 Critical Elem* O 126 V 1324 CROPS Crown Mining V 429 Cruz Cobalt V 539 Cruz Cobalt* O 415 Crystal Lake V 318 Crystal Lake* O 30 Crystal Peak* O 0 Crystal Peak V 109 CTGX Mining* O 0 21 Currie Rose Rs V 33 Currie Rose Rs* O 27 CWN M’g Acq V O 533 Cyclone Uran* Cypress Dev* O 215 Cypress Dev V 2136

0.01 0.03 0.02 0.02 - 0.01 0.10 0.03 0.05 0.04 0.04 - 0.01 0.08 19.16 18.00 18.20 - 0.20 19.16 12.56 19.51 44.80 41.26 43.99 + 1.09 48.12 11.69 16.06 14.54 14.92 - 1.02 18.37 0.52 0.65 0.60 0.61 - 0.01 1.40 0.12 0.50 0.46 0.46 - 0.03 0.65 0.20 0.34 0.32 0.32 - 0.02 0.37 0.27 0.47 0.41 0.41 - 0.06 0.78 0.06 unch 0.00 0.45 0.25 0.25 0.25 2.90 0.37 4.13 3.54 3.06 3.15 - 2.26 2.72 2.32 2.39 - 0.31 3.22 0.21 unch 0.00 0.34 0.00 0.00 0.31 0.26 0.37 0.00 0.37 - 0.03 0.46 0.10 0.10 0.10 - 0.01 0.18 0.09 0.08 0.08 0.08 - 0.00 0.14 0.07 0.04 0.03 0.03 - 0.01 0.10 0.03 1.14 1.02 1.05 - 0.08 1.85 0.98 0.87 0.78 0.79 - 0.06 1.47 0.75 0.05 0.00 0.03 + 0.00 0.07 0.02 0.06 0.05 0.06 - 0.01 0.11 0.04 0.04 0.14 0.12 0.14 + 0.01 0.22 0.11 0.09 0.11 + 0.02 0.18 0.03 0.03 0.02 0.02 unch 0.00 0.03 0.01 0.04 0.07 0.00 0.06 - 0.01 0.15 0.03 0.06 0.04 0.04 - 0.01 0.12 0.29 0.28 0.28 unch 0.00 0.35 0.16 0.33 0.39 0.36 0.36 - 0.02 0.43 0.10 0.13 0.10 0.10 - 0.03 0.70 0.08 0.10 0.08 0.08 - 0.02 0.57 0.22 0.31 0.27 0.27 - 0.02 0.38 0.18 unch 0.00 0.34 0.23 0.20 0.21 0.10 0.35 0.00 0.35 - 0.15 3.58 0.14 0.27 0.14 0.24 + 0.10 0.43 0.11 0.20 0.11 0.16 + 0.05 0.35 0.13 1.10 0.87 0.94 - 0.10 1.41 0.12 1.42 1.16 1.20 - 0.15 1.88 0.07 0.08 0.06 0.07 - 0.02 0.16 1.01 unch 0.00 2.30 1.20 1.16 1.20 0.92 0.87 0.87 - 0.01 2.25 0.69 0.73 3.09 2.65 3.00 + 0.25 3.20 0.59 2.34 2.01 2.28 + 0.16 2.45 0.02 0.04 0.02 0.02 - 0.02 0.15 0.65 0.85 0.75 0.79 - 0.04 1.86 0.51 0.64 0.57 0.59 - 0.05 1.48 0.03 unch 0.00 0.14 0.04 0.04 0.04 0.08 0.10 0.09 0.10 + 0.01 0.28 0.08 0.12 0.10 0.10 - 0.01 0.41 0.06 0.10 0.07 0.08 - 0.01 0.35 0.19 0.62 0.47 0.50 - 0.09 1.12 0.15 0.09 0.84 0.47 0.36 0.38 - 0.21 unch 0.00 0.46 0.00 0.00 0.26 0.29 unch 0.00 0.58 0.33 0.33 0.33 0.10 unch 0.00 0.25 0.00 0.00 0.25 0.08 0.08 0.08 unch 0.00 0.20 0.04 0.06 0.06 0.06 unch 0.00 0.07 0.03 0.07 0.00 0.07 unch 0.00 0.25 0.06 0.00 unch 0.00 0.02 0.00 0.00 0.00 0.08 0.31 0.25 0.28 - 0.03 0.34 0.10 0.41 0.32 0.38 - 0.03 0.43

Dajin Res V 494 Dajin Res* O 656 118 Dakota Ter Res* O Daleco Res* O 145 O 1221 Dalradian Res* Dalradian Res T 1172 Damara Gold V 55 Danakali* O 489 Debut Dmds 14332 Decade Res V 555 Decade Res* O 66 Declan Cobalt 415 O 0 Deep-South Res* V 36 Deep-South Res Defiance Silvr V 151 O 134 Defiance Silvr* Delrand Res V 752 T 2378 Denison Mines X 4360 Denison Mines* Desert Gold* O 3 Desert Gold V 320 Desert Lion* O 328 Desert Lion V 4566 186 Desert Mtn Egy V 52 Desert Mtn Egy* O Detour Gold T 2966 O 24 Diamante Min* O 68 Diamcor Mng* Diamcor Mng V 82 O 720 Diamond Disc* V 18 Diamond Fields O 1 Diamond Fields* Dios Expl V 192 O 2050 Discovery Gold* V 4 Discovery Harb V 20 Discovery Met O 6176 Discovery Mnls* V 725 Discovery-Corp District Cop* O 23 District Cop V 1739 Ditem Explor* O 37 O 60 Diversified Rs* DNI Metals 144 DNI Metals* O 101 104 Dolat Ventures* O 49 Dolly Vard Sil* O 194 Dolly Vard Sil V O 50 Doubleview Cap* V 2152 Doubleview Cap DRDGOLD* N 218 610 Duncan Park H V 631 Dundee Prec Mt T O 66 Dunnedin Vent* Durango Res V 345 Durango Res* O 51 DV Resources V 470 91 Dynacor Gld Mn T 10 Dynacor Gld Mn* O O 1 Dynamic Gold* O 2 DynaResource* Dynasty Gold V 60 O 10 Dynasty Gold* E3 Metals V 66 E3 Metals* O 14 V 48 Eagle Graphite O 2 Eagle Graphite* Eagle Plains V 83 V 1882 East Africa 50 East Africa * O 102 East Asia Mnls* O 738 East Asia Mnls V EastCoal Inc V 3 O 9 Eastern Platin* Eastern Platin T 15 Eastfield Res V 5781 O 251 Eastmain Res* Eastmain Res T 700 21 Eco Oro Mnls 11 Eco Oro Mnls* O eCobalt Solns T 770 O 880 eCobalt Solns* V 2 Edgewater Expl O 2 Edgewater Expl* O 0 Edison Cobalt* Edison Cobalt V 186 605 El Capitan Prc* O 22 El Nino Vent V 0 El Nino Vent* O Elcora Res* O 102 Elcora Res V 184 T 5437 Eldorado Gold 27886 N Eldorado Gold* Eloro Mnrls* O 4 130 V Eloro Mnrls 176 Ely Gold Royal V 100 Ely Gold Royal* O 6 Elysee Dev * O Elysee Dev V 25 Emerita Res V 166 Emgold Mng* O 1 Emgold Mng V 48 Empire Rock V 4 EMX Royalty* X 211 EMX Royalty V 19 O 26 Encanto Potash* V 433 Encanto Potash V 2797 EnCore Energy T 1175 Endeavour Mng

0.09 0.11 0.10 0.10 - 0.01 0.22 0.06 0.08 0.07 0.08 - 0.01 0.17 0.05 0.04 0.05 unch 0.00 0.10 0.03 0.00 unch 0.00 0.01 0.00 0.00 0.00 0.67 unch 0.00 1.37 1.13 1.10 1.11 0.89 unch 0.00 1.67 1.47 1.46 1.47 0.04 unch 0.00 0.22 0.05 0.05 0.05 0.44 0.60 0.52 0.53 - 0.07 0.69 0.01 0.01 0.01 0.01 - 0.01 0.03 0.05 0.08 0.06 0.06 - 0.01 0.20 0.04 0.05 0.05 0.05 + 0.00 0.16 0.30 0.38 0.30 0.35 + 0.05 0.38 0.14 unch 0.00 0.30 0.00 0.00 0.18 0.11 unch 0.00 0.45 0.13 0.11 0.12 0.22 0.26 0.22 0.25 + 0.02 0.44 0.17 0.19 0.17 0.18 + 0.01 0.35 0.38 0.61 0.54 0.57 - 0.02 2.44 0.50 0.70 0.63 0.64 - 0.04 0.80 0.38 0.53 0.48 0.49 - 0.03 0.64 0.12 unch 0.00 0.24 0.12 0.12 0.12 0.14 0.16 0.15 0.16 + 0.01 0.30 0.10 0.20 0.10 0.10 - 0.10 1.07 0.09 0.21 0.09 0.10 - 0.09 2.35 0.18 0.16 0.18 + 0.01 0.25 0.06 0.14 0.14 0.14 - 0.00 0.20 0.01 10.78 9.91 10.30 - 0.36 17.29 9.11 0.02 0.18 0.17 0.17 - 0.01 0.24 0.20 0.24 0.23 0.23 - 0.01 0.55 0.30 0.32 0.28 0.28 - 0.03 0.71 0.00 0.00 0.00 0.00 - 0.00 0.00 0.08 unch 0.00 0.15 0.09 0.08 0.08 0.06 unch 0.00 0.11 0.06 0.00 0.06 0.06 0.08 0.07 0.07 + 0.01 0.19 0.00 0.01 0.00 0.00 - 0.00 0.01 0.05 0.07 0.00 0.05 - 0.02 0.08 0.27 unch 0.00 0.88 0.31 0.31 0.31 0.00 0.00 0.00 0.00 - 0.00 0.00 0.01 unch 0.00 0.04 0.01 0.01 0.01 0.04 0.05 0.04 0.05 + 0.01 0.16 0.05 0.06 0.05 0.06 - 0.01 0.21 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.02 unch 0.00 0.14 0.03 0.03 0.03 0.06 unch 0.00 0.15 0.07 0.06 0.07 0.04 0.06 0.05 0.06 + 0.00 0.12 0.50 0.27 0.49 + 0.08 15.80 0.24 0.38 0.33 0.33 - 0.04 0.84 0.29 0.50 0.43 0.43 - 0.06 1.04 0.38 0.04 0.09 0.08 0.08 - 0.00 0.09 0.04 unch 0.00 0.13 0.13 0.09 0.12 1.91 2.13 1.91 2.09 - 0.04 4.11 0.01 0.01 0.01 unch 0.00 0.02 0.01 2.90 2.74 2.82 - 0.03 3.60 2.34 0.12 0.16 0.14 0.14 - 0.02 0.26 0.05 0.06 0.05 0.05 - 0.01 0.11 0.05 0.05 0.05 0.05 + 0.01 0.08 0.10 0.16 0.10 0.10 - 0.06 0.50 1.65 1.54 1.59 - 0.01 2.26 1.47 1.26 1.18 1.20 - 0.04 1.85 1.03 0.75 unch 0.00 3.00 2.20 2.20 2.20 1.00 1.22 1.12 1.20 - 0.02 1.50 0.10 0.18 0.12 0.17 + 0.01 0.27 0.07 0.16 0.00 0.16 + 0.04 0.22 0.32 0.39 0.37 0.38 + 0.01 1.01 0.25 unch 0.00 0.77 0.25 0.25 0.25 0.12 0.20 0.16 0.16 - 0.02 0.36 0.01 unch 0.00 0.18 0.13 0.00 0.13 0.09 unch 0.00 0.29 0.10 0.10 0.10 0.29 0.23 0.25 - 0.02 0.37 0.14 0.17 0.17 0.17 unch 0.00 0.28 0.10 0.06 0.05 0.06 unch 0.00 0.17 0.02 0.08 0.06 0.08 + 0.01 0.23 0.03 0.07 unch 0.00 0.30 0.13 0.13 0.13 0.19 0.21 0.19 0.21 - 0.00 0.37 0.24 0.27 0.00 0.26 - 0.02 0.50 0.03 unch 0.00 0.06 0.06 0.04 0.05 0.13 0.16 0.14 0.14 - 0.02 0.32 0.16 0.21 0.18 0.18 - 0.03 0.38 0.22 0.19 0.21 + 0.01 0.45 0.15 0.14 0.14 0.14 unch 0.00 0.34 0.12 0.54 0.80 0.70 0.74 - 0.05 2.10 0.41 0.62 0.53 0.56 - 0.05 1.74 0.12 unch 0.00 0.21 0.00 0.00 0.16 0.09 unch 0.00 0.13 0.12 0.00 0.12 0.06 unch 0.00 0.24 0.10 0.00 0.10 0.06 0.14 0.12 0.14 + 0.02 0.36 0.02 0.01 0.02 + 0.00 0.05 0.01 0.04 0.00 0.04 unch 0.00 0.08 0.02 0.00 0.00 0.03 unch 0.00 0.06 0.02 0.12 0.16 0.13 0.13 - 0.01 0.44 0.13 0.22 0.16 0.17 - 0.02 0.56 1.03 1.30 1.09 1.12 - 0.14 2.98 0.80 1.00 0.84 0.86 - 0.12 2.44 0.29 unch 0.00 0.96 0.29 0.29 0.29 0.35 0.41 0.00 0.37 - 0.03 1.27 0.11 0.10 0.11 unch 0.00 0.15 0.09 0.08 0.08 0.08 + 0.00 0.13 0.07 0.30 0.27 0.30 + 0.03 0.31 0.20 0.26 unch 0.00 0.39 0.37 0.36 0.36 0.04 0.05 0.00 0.05 - 0.01 0.17 0.09 0.14 0.00 0.14 - 0.00 0.25 0.13 0.18 0.00 0.15 - 0.01 0.31 0.11 unch 0.00 0.30 0.12 0.12 0.12 0.67 1.24 1.13 1.17 + 0.03 1.47 0.85 1.57 1.48 1.57 + 0.06 1.75 0.02 0.18 0.00 0.15 - 0.07 0.22 0.18 0.25 0.18 0.20 - 0.01 0.70 0.04 0.14 0.11 0.12 - 0.01 0.14 18.09 20.25 18.74 19.34 - 0.47 26.86

D-F

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / SEPTEMBER 17–30, 2018

Week

12-month

Exc Volume High Low Last Change High Low

Endeavour Mng* O 20 Endeavr Silver* N 3432 T 634 Endeavr Silver Endurance Gold V 10 Energy Fuels* X 3854 Energy Fuels T 805 Enforcer Gold* O 50 Enforcer Gold V 567 Engineer Gold V 30 Engold Mines V 105 Engold Mines* O 24 Ensurge* O 1 Entree Gold* X 519 Entree Gold T 321 Equinox Gold V 1109 Equitorial Ex V 849 Equitorial Ex* O 3 Erdene Res Dev* O 119 Erdene Res Dev T 322 Erin Ventures V 77 Ero Copper T 370 Ero Copper* O 4 172 Eros Res Corp V Eros Res Corp V 172 27 Eros Res Corp* O Eskay Mng V 157 V 16 Essex Minerals Ethos Gold* O 22 Ethos Gold V 108 Euro Sun Mg* O 3 Euro Sun Mg T 116 EurOmax Res T 317 EurOmax Res* O 101 O 22 European Elect* European Elect V 415 O 405 European Metal* Eurotin V 89 Everton Res V 1166 Everton Res* O 16 EVI Global Grp 166 Evolving Gold 6 Evolving Gold* O 54 Evrim Res V 395 Excellon Res T 204 Excellon Res* O 171 O 115 Excelsior Mng* Excelsior Mng T 601 62 ExGen Res Inc V Explor Res* O 161 Explor Res V 1812 Explorex Res* O 104 Explorex Res 116 Fairmile Gold* O 1 Fairmont Res V 436 Fairmont Res* O 54 Falco Res V 817 4 Falco Res * O Falcon Gold V 250 V 639 Fancamp Expl Far Res* O 99 Far Res 3278 Fengro Industr V 3 Filo Mg Corp V 271 Finlay Minrls V 112 Fiore Gold* O 249 Fiore Gold V 187 Fire River Gol* O 25 Firebird Res V 550 Firesteel Res V 663 Firesteel Res* O 85 Firestone Diam* O 0 Firestone Vent V 29 Fireweed Zinc V 62 Fireweed Zinc* O 16 Firma Holdings* O 113 First Bauxite V 381 837 First Cobalt * O First Cobalt V 1997 O 180168 First Colombia* First Energy* O 10 First Energy V 152 First Legacy V 181 First Liberty* O 2435 First Majestic T 3843 First Majestic* N 13342 First Mexican V 438 First Mg Fin T 2212 First Mg Fin * O 1758 First Point* O 4 First Quantum T 15252 V 506 Fission 3.0 Fission 3.0* O 145 Fission Uran* O 1556 Fission Uran T 2669 Five Star Diam V 134 Five Star Diam* O 24 Fjordland Exp* O 247 Fjordland Exp V 371 O 473 Focus Graphite* Focus Graphite V 361 Foran Mng V 87 Forsys Metals T 1114 Fort St J Nick V 53 O 18 Fortescue Met* Fortuna Silvr T 1370 Fortuna Silvr* N 3220 Fortune Bay V 10 Fortune Bay* O 2 Fortune Mnrls* O 157 Fortune Mnrls T 881 Forum Energy V 154 Forum Energy* O 79 Four Nines 100 Fox River Res 79 Fox River Res* O 50 FPX Nickel V 446 Franco-Nevada* N 3767 Franco-Nevada T 3129 Franklin Mng* O 0 Freedom Egy V 629 Freegold Vent T 486 Freeport McMoR* N 91128 Freeport Res V 175 Fremont Gold V 204 Fremont Gold* O 34 Fresnillo plc* O 21 Frontier Lith V 136 Frontline Gold V 305 Full Metal Mnl* O 1 Fura Gems V 113 Fura Gems* O 9

15.29 14.32 14.69 - 0.41 21.72 13.87 2.30 2.13 2.18 - 0.06 3.35 1.94 3.00 2.80 2.89 - 0.02 4.40 2.50 0.06 0.06 0.06 unch 0.00 0.09 0.05 3.23 2.71 2.89 - 0.30 3.64 1.30 4.23 3.57 3.79 - 0.35 4.65 1.66 0.04 0.04 0.04 unch 0.00 0.13 0.03 0.06 0.05 0.05 - 0.01 0.18 0.04 0.12 0.11 0.11 - 0.01 0.12 0.08 0.16 0.13 0.14 - 0.01 0.30 0.13 0.12 0.11 0.11 - 0.01 0.24 0.11 0.05 0.00 0.05 unch 0.00 0.09 0.02 0.41 0.35 0.41 + 0.05 0.69 0.33 0.54 0.45 0.54 + 0.08 0.85 0.42 1.11 1.02 1.07 unch 0.00 1.39 0.88 0.05 0.04 0.04 - 0.01 0.15 0.04 0.03 0.03 0.03 unch 0.00 0.11 0.03 0.31 0.28 0.31 + 0.01 0.73 0.25 0.40 0.38 0.40 unch 0.00 0.89 0.32 0.18 0.14 0.14 - 0.04 0.33 0.08 9.20 8.45 9.03 + 0.31 10.85 4.70 6.94 0.00 6.94 + 0.28 8.12 3.88 0.10 0.10 0.10 unch 0.00 0.23 0.10 0.10 0.10 0.10 unch 0.00 0.23 0.10 0.07 0.07 0.07 + 0.00 0.18 0.07 0.31 0.27 0.28 - 0.04 0.51 0.18 0.12 0.09 0.12 + 0.04 0.25 0.07 0.10 0.09 0.09 - 0.00 0.23 0.09 0.15 0.13 0.14 - 0.01 0.28 0.13 0.61 0.00 0.57 - 0.03 1.47 0.57 0.80 0.74 0.74 - 0.04 1.82 0.72 0.16 0.12 0.12 - 0.03 0.37 0.11 0.11 0.11 0.11 - 0.00 0.32 0.08 0.13 0.11 0.12 + 0.01 0.79 0.09 0.16 0.13 0.16 + 0.03 0.93 0.12 0.00 0.00 0.00 + 0.00 0.01 0.00 0.09 0.07 0.07 - 0.02 0.13 0.05 0.04 0.03 0.03 - 0.01 0.06 0.03 0.02 0.02 0.02 - 0.00 0.05 0.02 0.45 0.30 0.35 + 0.05 0.45 0.03 0.08 0.08 0.08 unch 0.00 0.41 0.07 0.06 0.06 0.06 unch 0.00 0.32 0.05 1.40 1.25 1.30 - 0.01 1.70 0.20 1.19 1.04 1.05 - 0.08 2.27 1.05 0.89 0.79 0.79 - 0.10 1.87 0.80 0.78 0.65 0.67 - 0.09 1.21 0.62 1.05 0.86 0.88 - 0.12 1.50 0.82 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.03 0.01 0.02 - 0.00 0.07 0.02 0.03 0.02 0.03 - 0.01 0.08 0.02 0.26 0.22 0.23 - 0.03 0.31 0.15 0.35 0.30 0.30 - 0.05 0.65 0.18 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.02 0.02 0.02 + 0.01 0.04 0.01 0.01 0.01 0.01 - 0.00 0.03 0.01 0.45 0.40 0.42 - 0.03 1.25 0.36 0.33 0.31 0.31 - 0.02 1.01 0.28 0.04 0.03 0.03 unch 0.00 0.08 0.03 0.08 0.07 0.07 unch 0.00 0.18 0.05 0.15 0.10 0.12 - 0.02 0.87 0.08 0.20 0.14 0.16 - 0.03 1.10 0.10 0.10 0.10 0.10 unch 0.00 0.31 0.10 2.25 2.00 2.25 + 0.12 2.80 2.00 0.04 0.03 0.04 unch 0.00 0.34 0.03 0.32 0.25 0.26 - 0.03 0.95 0.25 0.42 0.33 0.34 - 0.02 1.18 0.33 2.41 0.00 0.00 - 0.00 2.41 0.00 0.03 0.03 0.03 unch 0.00 0.09 0.01 0.16 0.11 0.11 - 0.06 0.17 0.06 0.12 0.09 0.10 - 0.03 0.12 0.09 0.00 0.00 0.06 unch 0.00 0.06 0.05 0.09 0.07 0.07 - 0.01 0.19 0.05 1.17 1.07 1.10 - 0.04 2.14 0.67 0.91 0.00 0.86 - 0.04 1.67 0.54 0.05 0.04 0.04 - 0.00 0.13 0.02 0.04 0.03 0.04 unch 0.00 0.06 0.03 0.35 0.29 0.29 - 0.05 1.30 0.20 0.45 0.39 0.40 - 0.05 1.65 0.26 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.10 0.10 0.10 unch 0.00 0.32 0.10 0.13 0.10 0.12 + 0.02 0.43 0.10 0.13 0.12 0.12 - 0.01 0.25 0.12 0.00 0.00 0.00 unch 0.00 0.00 0.00 7.31 6.77 7.20 - 0.06 11.09 6.24 5.61 5.13 5.45 - 0.11 8.48 4.93 0.04 0.03 0.03 - 0.01 0.07 0.01 0.38 0.34 0.34 - 0.03 0.71 0.34 0.29 0.26 0.26 - 0.03 0.58 0.26 0.07 0.07 0.07 unch 0.00 0.13 0.06 16.80 14.05 14.58 - 1.79 23.05 12.82 0.12 0.10 0.10 - 0.02 0.28 0.08 0.09 0.07 0.07 - 0.01 0.17 0.02 0.52 0.48 0.49 - 0.02 0.72 0.43 0.68 0.63 0.64 - 0.04 0.89 0.55 0.10 0.09 0.10 unch 0.00 0.30 0.09 0.08 0.08 0.08 unch 0.00 0.25 0.08 0.13 0.08 0.09 - 0.05 0.47 0.08 0.16 0.11 0.11 - 0.05 0.59 0.12 0.03 0.02 0.02 - 0.00 0.08 0.02 0.04 0.03 0.04 unch 0.00 0.11 0.03 0.36 0.36 0.36 unch 0.00 0.62 0.24 0.29 0.22 0.24 - 0.03 0.29 0.09 0.42 0.00 0.41 - 0.01 0.59 0.15 2.68 0.00 2.62 - 0.29 4.79 2.53 6.05 5.62 5.65 - 0.33 7.78 5.13 4.64 4.26 4.28 - 0.30 6.08 4.03 0.39 0.00 0.30 - 0.02 0.51 0.28 0.24 0.22 0.22 - 0.02 0.42 0.20 0.10 0.08 0.08 - 0.02 0.33 0.00 0.13 0.11 0.12 - 0.01 0.38 0.10 0.05 0.05 0.05 unch 0.00 0.09 0.04 0.04 0.03 0.04 + 0.01 0.07 0.03 0.06 0.06 0.06 unch 0.00 0.16 0.06 0.06 0.06 0.06 unch 0.00 0.15 0.05 0.05 0.04 0.04 unch 0.00 0.08 0.04 0.10 0.09 0.09 unch 0.00 0.18 0.07 65.65 60.15 61.01 - 2.98 86.06 60.56 85.80 79.28 80.40 - 3.02 110.18 79.95 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.06 0.05 0.05 - 0.02 0.12 0.04 0.07 0.06 0.07 + 0.01 0.14 0.06 14.31 13.05 13.18 - 0.87 20.25 13.22 0.07 0.06 0.07 unch 0.00 0.08 0.03 0.11 0.09 0.11 + 0.02 0.22 0.09 0.11 0.00 0.09 + 0.01 0.17 0.08 12.09 10.55 10.55 - 1.25 22.04 11.16 0.48 0.38 0.41 - 0.01 0.85 0.36 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.00 0.00 0.00 + 0.00 0.12 0.00 0.44 0.00 0.38 - 0.06 1.13 0.34 0.34 0.29 0.29 - 0.05 1.23 0.27

Gabriel Res* O 39 Gabriel Res V 208 Gainey Capital V 273 Galane Gold V 374 143 Galane Gold * O Galantas Gold* O 50 Galantas Gold V 29 Galore Res V 658 Galway Gold * O 26 Galway Gold V 127 Galway Mtls* O 49 Galway Mtls V 735 GAR Limited 15168 Garibaldi Res V 903 Garibaldi Res * O 165 General Moly T 9 General Moly* X 506 Generation Min 122 Generic Gold 25 Genesis Mtls* O 485 Genesis Mtls V 1451 Genius Props * O 51 Genius Props 478 Gensource Pot V 740 Gentor Res V 69 Geomega Res V 405 Geomega Res* O 52 Gespeg Cop Res V 395 Getty Copper V 915 GFG Resources* O 190 GGL Res* O 1 GGL Res V 179 GGX Gold V 810 GGX Gold* O 83 Giga Metals V 285 Giga Metals* O 78 Gitennes Expl V 2057 Giyani Gold V 649 Giyani Gold* O 164 Glacier Lake V 307 Gldn Predator* O 185 Gldn Predator V 878 Glen Eagle Res V 223

0.29 0.24 0.27 + 0.03 0.34 0.22 0.38 0.32 0.37 + 0.05 0.45 0.29 0.06 0.05 0.06 + 0.01 0.15 0.04 0.05 0.05 0.05 unch 0.00 0.08 0.05 0.04 0.03 0.04 unch 0.00 0.06 0.03 0.07 0.07 0.07 unch 0.00 0.10 0.06 0.11 0.09 0.11 + 0.01 0.13 0.07 0.03 0.02 0.02 - 0.01 0.06 0.01 0.12 0.11 0.11 - 0.01 0.12 0.10 0.16 0.15 0.15 unch 0.00 0.64 0.14 0.19 0.16 0.19 + 0.02 0.36 0.13 0.30 0.22 0.23 + 0.02 0.45 0.17 0.12 0.09 0.09 - 0.03 0.65 0.07 2.75 2.25 2.39 - 0.21 5.27 1.03 2.12 1.71 1.79 - 0.23 4.12 0.85 0.49 0.47 0.47 - 0.01 0.63 0.35 0.41 0.36 0.37 - 0.02 0.51 0.28 0.14 0.00 0.13 - 0.01 0.20 0.08 0.15 0.15 0.15 unch 0.00 0.32 0.15 0.07 0.07 0.07 + 0.00 0.17 0.04 0.10 0.09 0.09 + 0.01 0.21 0.05 0.22 0.20 0.20 - 0.02 0.22 0.16 0.29 0.20 0.25 - 0.03 0.31 0.12 0.14 0.12 0.13 + 0.01 0.16 0.06 0.07 0.07 0.07 - 0.01 0.20 0.06 0.10 0.08 0.08 - 0.02 0.20 0.06 0.06 0.06 0.06 - 0.01 0.12 0.05 0.04 0.03 0.03 - 0.01 0.06 0.02 0.03 0.02 0.02 unch 0.00 0.04 0.02 0.19 0.17 0.17 - 0.01 0.61 0.15 0.07 0.07 0.07 unch 0.00 0.13 0.07 0.11 0.09 0.09 - 0.03 0.19 0.09 0.12 0.10 0.10 - 0.02 0.20 0.07 0.08 0.08 0.08 unch 0.00 0.16 0.06 0.29 0.22 0.27 + 0.03 0.92 0.15 0.21 0.18 0.20 + 0.02 0.72 0.13 0.09 0.06 0.07 - 0.02 0.15 0.04 0.40 0.26 0.28 - 0.12 0.50 0.15 0.31 0.20 0.23 - 0.07 0.41 0.12 0.04 0.03 0.04 + 0.01 0.13 0.03 0.28 0.26 0.28 + 0.01 0.87 0.25 0.37 0.35 0.35 - 0.01 1.05 0.33 0.18 0.14 0.17 - 0.01 0.25 0.11

G-H

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Glencore Plc* O 1262 Global Atomic V 652 Global Cobalt* O 5 Global Energy V 99 Global Energy* O 8 Global Gold* O 0 Global Hunter* O 0 Global Li-Ion 404 Global Li-Ion* O 15 GlobalMin Vent* O 1 Globex Mng* O 11 Globex Mng T 40 GMV Minerals* O 3 GMV Minerals V 82 GNCC Capital* O 161982 Go Cobalt 67 GobiMin V 30 GoGold Res T 299 Gold Dynamics* O 83 Gold Fields* N 24213 Gold Finder Ex V 810 18 Gold Finder Ex* O Gold Lakes* O 23 Gold Reserve* O 52 Gold Reserve V 106 Gold Resource* X 1534 Gold Rush Cari V 522 Gold Std Vents T 518 Gold Std Vents* X 1404 Goldbank Mng V 1 Goldcliff Res* O 176 Goldcliff Res V 322 Goldcorp T 13678 Goldcorp* N 36539 Golden Arrow V 710 Golden Arrow* O 305 Golden Band* O 177 Golden Cariboo V 235 Golden Dawn Ml V 921 Golden Dawn Ml* O 11 Golden Global* O 5 Golden Goliath* O 9 Golden Goliath V 280 Golden Harp V 17 Golden Hope V 24 Golden Hope* O 3 Golden Mnls T 47 Golden Mnls* X 1046 Golden Peak Mn V 277 Golden Peak Mn* O 1 Golden Pursuit V 15 Golden Pursuit* O 0 Golden Queen T 244 Golden Queen* O 359 Golden Reign V 329 Golden Ridge V 13684 Golden Share V 50 Golden Share* O 7 Golden Star T 347 Golden Star* X 3405 Golden Sun* O 200 Golden Tag V 163 Golden Valley* O 56 Golden Valley V 324 Goldex Res* O 5 Goldex Res V 651 Goldgroup Mng T 370 Goldgroup Mng* O 267 GoldMining T 465 GoldMining* O 232 GoldON Res V 112 Goldplay Expl V 62 GoldQuest Mng V 286 Goldrea Res 1987 Goldrea Res* O 10 Goldrich Mng* O 92 Goldsource Min* O 238 Goldsource Min V 253 Goldstar Mnls V 1164 Goldstream Mnl V 41 Goldstrike Res V 748 Goliath Res V 1878 Goliath Res* O 269 Gossan Res V 301 GoviEx Uranium* O 356 GoviEx Uranium V 1770 Gowest Gold* O 190 Gowest Gold V 1068 GPM Metals* O 17 GPM Metals V 13 Gran Colombia* O 98 Gran Colombia T 150 Granada Gold V 394 Granada Gold* O 24 Grande Portage V 142 Granite Ck Gld V 15 Graphite Egy* O 242 Graphite Egy 111 Graphite One V 788 Graphite One* O 417 Gratomic* O 20 Gratomic V 5306 Gray Rock Res V 61 Great Atlantic V 315 Great Bear Res V 1600 Great Bear Res* O 155 Great Lakes Gr* O 126 Great Lakes Gr V 462 Great Panther T 154 X 1420 Great Panther* Great Quest Fe V 39 Great Quest Fe* O 165 Great Thunder V 144 Great Western* O 460 Green River 655 Green Swan Cap V 114 Green Valley M V 36 Greencastle Rs V 98 Greenland M&En* O 561 V 1 Greenshield Ex Grid Metals V 488 Grid Metals* O 271 Grizzly Discvr* O 197 Grizzly Discvr V 102 Group Eleven V 311 Group Ten Mtls* O 28 Group Ten Mtls V 238 GrowMax Res* O 292 GrowMax Res V 1194 GT Gold V 3945 GT Gold * O 138 GTA Res & Mng V 70 Guerrero Vents V 130 Gungnir Res V 4189 Gungnir Res* O 1605 Gunpoint Expl V 29 Guyana Gldflds T 2637 Guyana Goldstr V 649 Guyana Goldstr* O 8 Handa Mining V 26 Handeni Gold* O 1 Hannan Metals V 155 Hannan Metals* O 85 Happy Ck Mnrls V 44 Harfang Explor V 75 Harmony Gold* N 19439 Harte Gold* O 547 Harte Gold T 3424 Harvest Gold* O 389 Harvest Gold V 976 Havilah Mining* O 175 Havilah Mining V 891 Hawkeye Gld&Di V 3480 Heatherdale Rs V 259 Hecla Mining* N 25404 Helio Res V 16 Helio Res* O 12 Hellix Vent* O 267 Hemcare Health* O 6 Heron Res* O 0 HFX Holding V 300 Highbank Res V 1125 Highland Copp V 1836 Highland Copp* O 849 Highway 50 Gld V 219 Highway 50 Gld* O 250 HiHo Silver 257 HiHo Silver* O 375 Hinterland Mtl V 1 Hochschild Mg* O 9 Homeland Egy V 3 Honey Badger E V 1242 Honey Badger E* O 74 Horizonte Mnls T 285 Hornby Bay Mnl* O 67 Hornby Bay Mnl V 56 HudBay Mnls* N 2764 HudBay Mnls T 6745

8.18 7.56 7.59 - 0.51 11.68 7.50 0.36 0.30 0.36 + 0.04 0.55 0.20 0.00 0.00 0.00 unch 0.00 0.43 0.00 0.07 0.07 0.07 - 0.01 0.27 0.06 0.05 0.05 0.05 unch 0.00 0.22 0.05 0.00 0.00 2.00 unch 0.00 5.77 1.78 0.00 0.00 0.00 unch 0.00 0.10 0.00 0.18 0.15 0.15 - 0.03 0.97 0.15 0.14 0.11 0.11 - 0.02 0.80 0.11 0.65 0.60 0.65 + 0.05 140.00 0.55 0.27 0.26 0.27 - 0.01 0.46 0.26 0.37 0.34 0.36 + 0.01 0.56 0.34 0.14 0.14 0.14 unch 0.00 0.42 0.12 0.19 0.18 0.19 + 0.01 0.49 0.17 0.00 0.00 0.00 - 0.00 0.00 0.00 0.18 0.07 0.18 + 0.02 0.22 0.07 0.34 0.34 0.34 unch 0.00 0.55 0.30 0.36 0.33 0.36 + 0.03 0.61 0.31 0.01 0.00 0.00 + 0.00 0.01 0.00 2.52 2.27 2.35 - 0.14 4.70 2.27 0.24 0.17 0.23 + 0.04 1.85 0.17 0.14 0.00 0.14 + 0.01 1.33 0.00 0.04 0.00 0.04 + 0.00 0.50 0.01 2.66 2.40 2.66 + 0.24 4.25 2.05 3.44 3.11 3.35 + 0.17 5.35 2.50 5.31 4.92 4.94 - 0.22 7.33 3.52 0.15 0.12 0.15 + 0.02 0.35 0.10 2.05 1.87 1.93 - 0.10 2.46 1.50 1.57 1.41 1.48 - 0.08 2.01 1.15 0.00 0.00 0.14 unch 0.00 0.34 0.13 0.07 0.06 0.07 + 0.00 0.41 0.06 0.09 0.08 0.09 + 0.01 0.52 0.08 14.46 13.19 13.54 - 0.56 19.32 13.30 11.09 10.02 10.27 - 0.57 15.55 10.10 0.50 0.45 0.45 - 0.05 0.72 0.37 0.37 0.34 0.34 - 0.03 0.58 0.29 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.06 0.06 0.06 + 0.01 0.17 0.05 0.11 0.07 0.09 - 0.03 0.63 0.10 0.10 0.07 0.07 - 0.03 0.31 0.10 0.12 0.00 0.12 unch 0.00 0.19 0.00 0.02 0.02 0.02 - 0.00 0.05 0.01 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.12 0.00 0.08 - 0.04 0.20 0.01 0.08 0.00 0.07 - 0.01 0.13 0.06 0.06 0.06 0.06 unch 0.00 0.10 0.05 0.36 0.30 0.34 + 0.03 0.71 0.28 0.30 0.23 0.24 - 0.03 0.64 0.21 0.34 0.29 0.29 - 0.04 0.56 0.16 0.28 0.28 0.28 unch 0.00 0.41 0.22 0.10 0.00 0.10 unch 0.00 0.21 0.09 0.00 0.00 0.09 unch 0.00 0.16 0.09 0.18 0.15 0.17 + 0.01 0.62 0.14 0.14 0.11 0.13 + 0.00 0.51 0.11 0.19 0.18 0.18 - 0.01 0.37 0.18 0.54 0.40 0.44 - 0.08 0.54 0.11 0.15 0.00 0.14 unch 0.00 0.30 0.09 0.13 0.00 0.13 unch 0.00 0.20 0.09 0.96 0.91 0.93 - 0.02 1.17 0.70 0.74 0.69 0.71 - 0.03 0.92 0.56 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.07 0.06 0.06 - 0.01 0.08 0.03 0.22 0.19 0.21 - 0.00 0.25 0.16 0.28 0.26 0.28 - 0.01 0.31 0.22 0.33 0.20 0.22 - 0.10 1.96 0.20 0.53 0.23 0.24 - 0.30 2.56 0.27 0.06 0.05 0.05 unch 0.00 0.09 0.05 0.04 0.03 0.04 - 0.00 0.07 0.03 0.90 0.85 0.85 - 0.01 1.77 0.85 0.70 0.64 0.65 - 0.01 1.43 0.60 0.20 0.15 0.15 - 0.01 0.20 0.12 0.20 0.19 0.19 unch 0.00 0.32 0.16 0.18 0.00 0.17 - 0.01 0.46 0.16 0.09 0.04 0.09 + 0.01 0.38 0.04 0.05 0.00 0.05 - 0.01 0.30 0.03 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.06 0.04 0.05 - 0.00 0.11 0.03 0.08 0.07 0.07 - 0.01 0.13 0.05 0.12 0.07 0.07 - 0.01 0.12 0.03 0.09 0.08 0.08 - 0.01 0.18 0.05 0.13 0.11 0.13 unch 0.00 0.38 0.10 0.24 0.19 0.20 - 0.05 0.40 0.08 0.19 0.15 0.16 - 0.01 0.21 0.11 0.08 0.06 0.08 unch 0.00 0.12 0.05 0.17 0.15 0.16 - 0.00 0.27 0.14 0.22 0.21 0.21 + 0.01 0.33 0.17 0.05 0.05 0.05 unch 0.00 0.18 0.04 0.06 0.06 0.06 + 0.01 0.22 0.06 0.04 0.03 0.04 unch 0.00 0.08 0.02 0.05 0.04 0.05 unch 0.00 0.15 0.04 1.69 0.00 1.63 - 0.04 2.62 1.31 2.22 2.08 2.16 - 0.02 3.45 1.55 0.19 0.16 0.17 - 0.01 0.42 0.16 0.15 0.12 0.13 - 0.01 0.36 0.13 0.20 0.18 0.19 - 0.01 0.71 0.14 0.10 0.10 0.10 unch 0.00 0.17 0.08 0.09 0.05 0.07 + 0.01 1.56 0.05 0.10 0.07 0.08 - 0.01 1.76 0.07 0.06 0.05 0.05 - 0.01 0.12 0.04 0.04 0.04 0.04 + 0.00 0.09 0.03 0.08 0.07 0.07 - 0.01 0.21 0.04 0.10 0.08 0.08 - 0.02 0.32 0.05 0.09 0.08 0.08 - 0.01 0.57 0.09 0.07 0.06 0.07 unch 0.00 0.21 0.06 2.00 1.66 2.00 + 0.10 2.03 0.26 1.45 1.28 1.44 + 0.01 1.56 0.21 0.04 0.04 0.04 - 0.00 0.08 0.02 0.06 0.05 0.05 unch 0.00 0.09 0.03 1.17 1.05 1.10 - 0.05 1.86 1.02 0.89 0.80 0.82 - 0.05 1.46 0.78 0.09 0.08 0.09 + 0.01 0.24 0.06 0.07 0.06 0.07 unch 0.00 0.16 0.05 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.07 0.06 0.07 unch 0.00 0.09 0.03 0.04 0.03 0.03 unch 0.00 0.09 0.03 0.35 0.32 0.35 - 0.01 0.50 0.08 0.08 0.07 0.08 + 0.01 0.18 0.07 0.07 0.06 0.07 + 0.00 0.10 0.05 0.12 0.12 0.12 unch 0.00 0.15 0.06 0.10 0.07 0.07 - 0.03 0.52 0.07 0.07 0.06 0.06 - 0.01 0.37 0.05 0.09 0.08 0.08 - 0.01 0.11 0.03 0.12 0.09 0.09 - 0.01 0.14 0.04 0.15 0.13 0.14 unch 0.00 0.40 0.13 0.13 0.12 0.12 - 0.01 0.23 0.09 0.18 0.14 0.18 - 0.01 0.28 0.11 0.09 0.07 0.07 - 0.01 0.13 0.06 0.11 0.10 0.10 - 0.01 0.19 0.09 0.72 0.49 0.52 - 0.06 2.76 0.41 0.54 0.37 0.41 - 0.05 2.24 0.31 0.03 0.03 0.03 - 0.01 0.06 0.03 0.10 0.09 0.09 + 0.01 0.30 0.09 0.38 0.20 0.30 - 0.05 0.38 0.09 0.29 0.17 0.23 - 0.03 0.29 0.07 0.41 0.35 0.40 + 0.05 0.41 0.16 3.71 3.26 3.40 - 0.29 5.42 3.26 0.30 0.27 0.30 - 0.01 0.39 0.17 0.23 0.21 0.21 - 0.02 0.28 0.14 0.07 0.07 0.07 + 0.01 0.18 0.05 0.05 0.00 0.05 unch 0.00 0.13 0.02 0.19 0.16 0.18 + 0.02 0.40 0.10 0.15 0.12 0.14 + 0.02 0.31 0.08 0.16 0.15 0.16 + 0.01 0.26 0.14 0.20 0.20 0.20 unch 0.00 0.35 0.20 1.82 1.63 1.79 + 0.13 2.53 1.43 0.36 0.28 0.31 - 0.04 0.53 0.22 0.47 0.37 0.42 - 0.03 0.64 0.29 0.06 0.04 0.06 + 0.01 0.07 0.03 0.08 0.06 0.08 + 0.02 0.09 0.04 0.25 0.22 0.23 - 0.01 0.35 0.20 0.34 0.29 0.31 + 0.01 0.69 0.25 0.11 0.06 0.07 - 0.01 0.12 0.04 0.03 0.00 0.03 unch 0.00 0.08 0.03 2.88 2.65 2.71 - 0.13 5.54 2.62 0.08 0.08 0.08 unch 0.00 0.50 0.08 0.06 0.06 0.06 unch 0.00 0.35 0.00 0.03 0.01 0.01 unch 0.00 0.07 0.01 0.44 0.40 0.40 - 0.00 2.30 0.05 0.00 0.00 0.41 unch 0.00 0.85 0.40 0.06 0.06 0.06 unch 0.00 0.12 0.04 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.10 0.08 0.10 unch 0.00 0.17 0.06 0.08 0.06 0.08 + 0.01 0.14 0.04 0.38 0.30 0.37 + 0.02 0.46 0.22 0.27 0.23 0.24 + 0.01 0.32 0.22 0.06 0.05 0.06 - 0.01 0.14 0.03 0.05 0.04 0.04 unch 0.00 0.07 0.04 0.00 0.00 0.02 unch 0.00 0.05 0.02 2.31 2.00 2.15 - 0.16 3.79 2.10 0.18 0.18 0.18 unch 0.00 0.38 0.18 0.06 0.05 0.06 unch 0.00 0.20 0.04 0.05 0.03 0.03 - 0.01 0.16 0.03 0.07 0.06 0.06 - 0.01 0.11 0.05 0.02 0.02 0.02 unch 0.00 0.07 0.00 0.04 0.03 0.04 + 0.01 0.08 0.00 4.80 4.15 4.25 - 0.45 10.25 4.25 6.26 5.51 5.65 - 0.45 12.65 5.64

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Hudson Res V 184 Hudson Res* O 15 Hunt Mng* O 13 Hunt Mng V 3 Hut 8 Mining* O 30 Hut 8 Mining V 354 Hybrid Mineral V 1 Hycroft Mg* O 1

0.45 0.42 0.44 - 0.02 0.64 0.38 0.33 0.00 0.33 + 0.00 0.52 0.29 0.17 0.15 0.16 - 0.01 0.41 0.11 0.20 0.20 0.20 unch 0.00 0.51 0.13 2.85 0.00 2.69 + 0.00 3.74 1.88 3.75 3.45 3.55 + 0.02 5.00 0.05 0.00 0.00 0.23 unch 0.00 0.55 0.12 0.02 0.00 0.02 + 0.01 0.45 0.01

I-Minerals* O 9 I-Minerals V 22 IAMGOLD T 6411 IAMGOLD* N 15879 Iconic Mnls * O 27 Iconic Mnls V 785 IDM Mining* O 52 IDM Mining V 256 IEMR Res V 71 IGC Res V 2 iMetal Res* O 1 iMetal Res V 250 V 368 IMPACT Silver Imperial Metal* O 29 Imperial Metal T 214 Imperial Mg Gr V 108 33 Inca One Gold* O Inca One Gold V 579 Inception Mng * O 0 V 40 Independence G Independence G* O 1 Indico Res V 184 Indigo Expl V 69 Infinite Lith* O 26 Infinite Lith V 223 Inform Res V 41 Inomin Mines V 118 Inspiration Mg* O 17 Inspiration Mg 538 Intact Gold V 98 Integra Res* O 44 Integra Res V 113 Inter-Rock Mnl V 30 Inter-Rock Mnl* O 63 Interconnect V 20 Intercontinent V 6 Intgr Egy Sol* O 1001 Intl Battery* O 585 Intl Battery 1020 98 Intl Bethl Mng V Intl Cobalt* O 27 Intl Cobalt 683 Intl Corona V 100 Intl Lithium* O 169 Intl Lithium V 165 Intl Montoro* O 100 Intl Montoro V 203 Intl Prospect V 2 Intl Samuel Ex V 2039 101000 Intl Star* O Intl Tower Hil* X 308 Intl Tower Hil T 3 Intl Zeolite V 585 Intl Zeolite* O 27 Intrepid Pots* N 2669 INV Metals* O 8 INV Metals T 24 Inventus Mg * O 78 Inventus Mg V 84 InZinc Mining V 583 InZinc Mining* O 7 O 208 Ireland* Ironside Res V 57 Irving Res 41 Irving Res* O 46 IsoEnergy Ltd V 159 Itafos* O 2 Itafos V 28 Itoco Mg Corp* O 1 O 397 Ivanhoe Mines* Ivanhoe Mines T 4440 Jade Leader* O 185 Jade Leader V 219 Jaeger Res V 22 Jaguar Mng T 310 Jaguar Mng* O 137 Japan Gold V 781 Japan Gold* O 10 Jasper Mng V 58 O 113 Jaxon Mining* Jaxon Mining V 317 Jazz Res V 0 Jiulian Res V 30 Jourdan Res V 258 Jubilee Metals* O 5 Juggernaut Exp* O 239 V 1927 Juggernaut Exp V 60 K2 Gold K92 Mng Inc* O 220 593 K92 Mng Inc V Kaizen Discov V 511 Kaizen Discvry* O 9 Kapuskasing Gd V 27 Karmin Expl V 14 Karnalyte Res T 46 Karoo Expl V 640 KAT Expl* O 2823 Katanga Mng T 1595 Kenadyr Mining V 138 O 97 Kenadyr Mining* Kermode Res V 10 Kerr Mines* O 204 Kerr Mines T 397 O 75 Kesselrun Res* Kesselrun Res V 60 Kestrel Gold V 656 Khan Res 463 Kilo Goldmines V 3598 Kilo Goldmines* O 40 Kincora Copper* O 15 Kincora Copper V 191 Kings Bay Res V 707 V 69 Kingsmen Res Kingsmen Res* O 25 14819 Kinross Gold T Kinross Gold* N 37516 Kintavar Exp V 299 Kirkland Lake* N 3898 Kirkland Lake T 3469 Klondike Gold* O 70 Klondike Gold V 124 Klondike Silv* O 6 Klondike Silv V 481 Kombat Copper V 194 Komet Resource V 291 Kootenay Silvr* O 116 V 403 Kootenay Silvr Kootenay Zinc 30 O 9 Kootenay Zinc* Kutcho Copper * O 28 KWG Res* O 66 KWG Res 942

0.14 0.14 0.14 unch 0.00 0.32 0.14 0.20 0.00 0.20 - 0.03 0.39 0.19 5.47 4.89 5.02 - 0.30 8.77 4.89 4.20 3.70 3.81 - 0.27 7.25 3.70 0.08 0.08 0.08 - 0.00 0.28 0.03 0.11 0.10 0.10 - 0.01 0.43 0.04 0.06 0.05 0.05 + 0.00 0.12 0.04 0.08 0.07 0.07 - 0.01 0.15 0.06 0.03 0.02 0.03 + 0.01 0.05 0.01 0.00 0.00 0.15 unch 0.00 0.25 0.05 0.07 0.07 0.07 unch 0.00 0.12 0.05 0.10 0.08 0.09 - 0.01 0.18 0.05 0.31 0.27 0.31 + 0.01 0.56 0.26 0.96 0.83 0.83 - 0.12 3.37 0.72 1.29 1.10 1.13 - 0.13 4.06 0.93 0.10 0.07 0.10 + 0.02 0.27 0.05 0.04 0.04 0.04 - 0.01 0.09 0.03 0.05 0.05 0.05 - 0.01 0.11 0.04 0.00 0.00 0.19 unch 0.00 0.35 0.05 0.07 0.00 0.07 unch 0.00 0.21 0.07 0.05 0.00 0.05 unch 0.00 0.15 0.05 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.13 0.11 0.11 - 0.03 0.34 0.08 0.18 0.15 0.15 - 0.02 0.45 0.09 0.10 0.10 0.10 unch 0.00 0.39 0.09 0.06 0.05 0.05 - 0.01 0.20 0.02 0.03 0.02 0.02 - 0.01 0.20 0.01 0.04 0.03 0.03 - 0.01 0.27 0.02 0.15 0.15 0.15 unch 0.00 1.18 0.14 0.70 0.66 0.66 - 0.01 1.83 0.05 0.90 0.85 0.87 + 0.01 1.40 0.77 0.32 0.32 0.32 unch 0.00 0.59 0.25 0.24 0.23 0.24 unch 0.00 0.35 0.23 0.04 0.04 0.04 unch 0.00 0.11 0.04 0.46 0.00 0.46 + 0.01 0.65 0.11 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.15 0.11 0.14 + 0.03 1.11 0.11 0.19 0.16 0.19 + 0.03 1.38 0.16 0.04 0.03 0.04 - 0.01 0.17 0.03 0.08 0.06 0.06 - 0.01 0.31 0.06 0.09 0.08 0.08 - 0.02 0.45 0.07 0.04 0.00 0.04 unch 0.00 0.08 0.03 0.07 0.06 0.07 - 0.01 0.18 0.05 0.10 0.08 0.09 - 0.01 0.23 0.07 0.04 0.04 0.04 unch 0.00 0.06 0.03 0.06 0.05 0.06 + 0.01 0.08 0.03 0.00 0.00 0.20 unch 0.00 0.38 0.09 0.13 0.10 0.10 - 0.03 0.30 0.03 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.48 0.42 0.43 - 0.03 0.78 0.29 0.61 0.59 0.59 - 0.02 0.99 0.38 0.16 0.14 0.14 - 0.02 0.52 0.13 0.11 0.10 0.10 - 0.01 0.40 0.10 3.46 3.26 3.32 - 0.08 5.31 3.12 0.30 0.26 0.30 unch 0.00 0.75 0.26 0.40 0.38 0.40 + 0.01 0.95 0.35 0.14 0.12 0.12 - 0.02 0.31 0.09 0.18 0.16 0.17 unch 0.00 0.39 0.12 0.08 0.07 0.07 - 0.01 0.24 0.07 0.06 0.06 0.06 unch 0.00 0.19 0.05 0.09 0.07 0.09 + 0.01 0.26 0.05 0.12 0.12 0.12 unch 0.00 0.21 0.09 1.12 1.03 1.08 - 0.03 1.52 0.66 0.86 0.79 0.82 - 0.02 1.22 0.52 0.38 0.34 0.35 unch 0.00 0.73 0.26 1.62 1.39 1.39 - 0.23 2.25 0.97 2.17 1.84 1.85 - 0.20 2.90 1.14 0.15 0.15 0.15 unch 0.00 1.20 0.04 1.84 1.66 1.80 + 0.01 3.95 1.53 2.43 2.18 2.40 + 0.08 5.01 2.00 0.26 0.21 0.21 - 0.04 0.38 0.07 0.34 0.28 0.28 - 0.05 0.50 0.08 0.04 0.03 0.03 unch 0.00 0.07 0.02 0.23 0.21 0.22 + 0.01 0.41 0.18 0.17 0.15 0.17 + 0.01 0.33 0.13 0.12 0.09 0.11 + 0.01 0.39 0.09 0.08 0.08 0.08 + 0.01 0.30 0.07 0.08 0.08 0.08 unch 0.00 0.18 0.06 0.10 0.09 0.09 - 0.01 0.27 0.08 0.13 0.12 0.12 - 0.00 0.35 0.10 0.00 0.00 0.08 unch 0.00 0.09 0.06 0.18 0.14 0.18 + 0.04 0.18 0.02 0.07 0.06 0.06 unch 0.00 0.16 0.04 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.38 0.30 0.31 - 0.05 1.10 0.25 0.49 0.39 0.41 - 0.05 0.59 0.17 0.30 0.28 0.29 unch 0.00 0.41 0.18 0.64 0.59 0.62 - 0.01 0.79 0.31 0.84 0.79 0.82 - 0.01 1.04 0.41 0.09 0.07 0.08 - 0.01 0.15 0.05 0.07 0.00 0.07 unch 0.00 0.12 0.04 0.03 0.00 0.03 unch 0.00 0.06 0.01 0.84 0.70 0.75 + 0.01 1.50 0.62 0.35 0.34 0.34 - 0.01 0.73 0.34 0.15 0.13 0.15 + 0.03 1.10 0.13 0.00 0.00 0.00 + 0.00 0.00 0.00 0.81 0.73 0.75 - 0.04 2.83 0.69 0.11 0.10 0.10 - 0.01 0.34 0.10 0.08 0.07 0.08 - 0.01 0.25 0.07 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.14 0.11 0.12 - 0.01 0.34 0.11 0.17 0.15 0.15 - 0.02 0.41 0.15 0.04 0.04 0.04 unch 0.00 0.17 0.04 0.07 0.06 0.06 unch 0.00 0.23 0.06 0.02 0.02 0.02 unch 0.00 0.19 0.02 0.09 0.07 0.07 - 0.01 0.18 0.06 0.02 0.00 0.02 unch 0.00 0.07 0.02 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.15 0.15 0.15 unch 0.00 0.32 0.10 0.22 0.16 0.17 - 0.05 0.42 0.11 0.04 0.04 0.04 unch 0.00 0.16 0.04 0.31 0.28 0.31 + 0.02 0.38 0.10 0.24 0.20 0.20 - 0.04 0.28 0.07 4.02 3.62 3.73 - 0.17 5.96 3.66 3.09 2.75 2.83 - 0.17 4.91 2.78 0.38 0.35 0.37 + 0.01 0.65 0.10 18.86 18.00 18.41 - 0.25 23.86 11.52 24.60 23.77 24.28 - 0.11 30.94 14.76 0.24 0.21 0.23 + 0.01 0.44 0.16 0.31 0.28 0.29 - 0.01 0.54 0.22 0.03 0.00 0.03 - 0.01 0.08 0.02 0.05 0.05 0.05 unch 0.00 0.10 0.04 0.11 0.10 0.10 - 0.01 0.49 0.10 0.24 0.18 0.22 + 0.04 0.48 0.16 0.11 0.09 0.10 - 0.00 0.23 0.09 0.14 0.13 0.13 - 0.01 0.29 0.13 0.11 0.00 0.09 - 0.01 0.90 0.07 0.08 0.06 0.08 + 0.00 0.91 0.04 0.26 0.24 0.24 + 0.00 0.84 0.21 0.01 0.00 0.01 unch 0.00 0.02 0.01 0.02 0.01 0.01 + 0.00 0.03 0.01

La Imperial 150 Labdr Iron Mns* O 14 Labrador Gold V 138 Labrador Iron T 719 Lara Expl V 166 Laramide Res T 2792 Laredo Res* O 1088 Largo Res T 2879 Largo Res* O 2132 Lateral Gold V 16 Latin Am Mnls V 142 Latin Am Mnls* O 142 Laurion Mnl Ex* O 224 Laurion Mnl Ex V 219 Le Mare Gold* O 2 LeadFX Inc* O 2 Leading Edge V 297 Leading Edge* O 318 Leagold Mg* O 299 Leagold Mg T 784 Leeta Gold V 5047 Legion Metals 181 Lepanto Con Mg* O 8905 Levon Res Ltd T 826 Levon Res Ltd * O 51 Libero Copper* O 20 Libero Copper V 3 Liberty Gold* O 293 Liberty One Li V 116 Liberty One Li* O 414 LiCo Energy* O 400

0.07 0.07 0.07 unch 0.00 0.08 0.04 0.00 0.00 0.00 unch 0.00 0.11 0.00 0.29 0.23 0.26 + 0.01 0.35 0.08 25.60 24.39 25.26 - 0.14 28.55 19.42 0.63 0.58 0.61 - 0.01 0.99 0.50 0.42 0.33 0.33 - 0.07 0.55 0.23 0.02 0.01 0.01 - 0.01 0.05 0.00 2.83 2.60 2.68 - 0.06 2.90 0.81 2.17 1.93 2.02 - 0.09 2.24 0.63 0.73 0.71 0.73 + 0.01 1.01 0.55 0.03 0.02 0.02 - 0.01 0.15 0.02 0.02 0.01 0.02 + 0.00 0.12 0.01 0.07 0.07 0.07 + 0.00 0.08 0.01 0.11 0.10 0.10 - 0.01 0.11 0.01 0.05 0.00 0.00 - 0.05 1.26 0.00 0.74 0.74 0.74 unch 0.00 1.57 0.48 0.50 0.41 0.44 + 0.01 1.01 0.36 0.37 0.30 0.33 + 0.00 0.80 0.26 1.63 1.44 1.51 - 0.10 2.73 1.43 2.11 1.90 1.96 - 0.14 3.45 1.87 0.86 0.67 0.68 - 0.14 6.75 0.62 0.17 0.11 0.17 unch 0.00 0.21 0.05 0.00 0.00 0.00 - 0.00 0.02 0.00 0.22 0.17 0.17 - 0.06 0.41 0.16 0.16 0.12 0.12 - 0.01 0.33 0.12 0.07 0.07 0.07 unch 0.00 0.19 0.05 0.12 0.12 0.12 unch 0.00 0.15 0.07 0.34 0.31 0.31 - 0.03 0.43 0.30 0.17 0.14 0.14 - 0.03 2.49 0.14 0.13 0.10 0.12 + 0.00 1.95 0.10 0.03 0.02 0.03 - 0.00 0.90 0.02

I-J-K

L

(100s) Stock

Week

21

12-month

Exc Volume High Low Last Change High Low

LiCo Energy V 665 Lincoln Mng V 505 56 Lion One Mtls V Lion One Mtls* O 62 Lions Bay Cap V 427 Lithion Energy* O 6 Lithium Amer* N 1136 Lithium Amer T 1498 Lithium Chile V 953 Lithium Chile* O 810 Lithium Corp* O 496 Lithium Energi* O 18 Lithium Energi V 351 V 6 Lithium Energy Lithium Expl* O 1968 Lithoquest Dia V 358 O 0 Lithoquest Dia* LKA Gold* O 33 Logan Res* O 1 Lomiko Mtls* O 15 Lomiko Mtls V 157 Loncor Res* O 15 Loncor Res T 63 Lone Star Gold* O 672 Lonmin plc* O 38 Lonmin plc* O 1 O 246 Lorraine Coppr* V 969 Lorraine Coppr Los Andes Copp V 59 LSC Lithium* O 4 Lucara Diam T 1187 Lucky Mnls * O 380 Lucky Mnls V 4151 Luckystrike V 208 Lumina Gold V 329 Lumina Gold* O 70 Lund Enterpr V 8 Lundin Gold T 191 Lundin Mng T 10826 Lupaka Gold V 59 Lydian Intl* O 177 Lydian Intl T 11251 Lynas Corp* O 188 Lynas Corp* O 99

0.04 0.03 0.03 - 0.01 0.20 0.03 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.52 0.48 0.48 - 0.03 0.76 0.45 0.40 0.37 0.37 - 0.01 0.62 0.35 0.12 0.07 0.12 + 0.04 0.25 0.07 0.04 0.03 0.03 - 0.00 0.11 0.04 4.94 3.85 4.07 - 0.70 10.95 3.50 6.45 5.07 5.31 - 0.89 14.06 4.58 1.01 0.81 0.96 + 0.14 1.35 0.52 0.78 0.61 0.70 + 0.09 0.97 0.54 0.24 0.19 0.20 - 0.03 0.62 0.07 0.24 0.21 0.23 + 0.01 0.75 0.13 0.32 0.27 0.29 - 0.03 0.97 0.15 0.25 0.00 0.23 unch 0.00 1.50 0.22 0.01 0.01 0.01 - 0.00 0.13 0.01 0.17 0.14 0.15 unch 0.00 0.88 0.14 0.00 0.00 0.37 unch 0.00 0.51 0.29 0.18 0.06 0.18 + 0.06 0.50 0.05 0.00 0.00 0.00 unch 0.00 0.04 0.00 0.04 0.03 0.04 + 0.01 0.24 0.03 0.06 0.05 0.06 unch 0.00 0.31 0.04 0.07 0.00 0.07 unch 0.00 0.09 0.04 0.10 0.09 0.09 unch 0.00 0.11 0.06 0.01 0.00 0.01 + 0.00 0.03 0.00 0.61 0.46 0.50 + 0.04 1.40 0.45 0.53 0.53 0.53 unch 0.00 0.95 0.53 0.11 0.08 0.08 - 0.01 0.12 0.01 0.14 0.10 0.12 - 0.02 0.19 0.07 0.29 0.00 0.29 unch 0.00 0.45 0.20 0.32 0.29 0.29 - 0.02 1.31 0.29 2.22 2.14 2.17 - 0.02 2.91 1.97 0.13 0.11 0.12 - 0.00 0.18 0.06 0.17 0.14 0.14 - 0.01 0.23 0.09 0.55 0.34 0.50 + 0.13 0.55 0.21 0.82 0.65 0.71 - 0.11 0.85 0.60 0.63 0.59 0.59 - 0.04 0.67 0.46 0.20 0.00 0.20 unch 0.00 0.25 0.10 4.92 4.80 4.87 - 0.03 5.57 4.07 6.53 6.00 6.44 + 0.22 10.22 6.00 0.15 0.14 0.15 + 0.01 0.29 0.11 0.17 0.12 0.17 + 0.01 0.50 0.12 0.24 0.18 0.21 + 0.01 0.63 0.15 1.61 1.35 1.38 - 0.20 2.20 0.13 1.62 1.31 1.39 - 0.23 2.20 0.55

M M.P.V. Explor 55 0.16 0.14 0.16 unch 0.00 0.30 0.12 M2 Cobalt* O 40 0.23 0.23 0.23 unch 0.00 0.61 0.23 Macarthur Mnl* O 350 0.02 0.02 0.02 unch 0.00 0.10 0.02 V 794 0.03 0.03 0.03 unch 0.00 0.12 0.02 Macarthur Mnl MacDonald Mns* O 196 0.04 0.03 0.04 + 0.00 0.11 0.03 V 189 0.06 0.05 0.05 - 0.01 0.14 0.05 MacDonald Mns MacMillan Mnls V 27 2.07 1.94 1.94 - 0.13 2.35 1.33 MAG Silver T 724 10.11 9.63 9.83 - 0.20 15.97 9.65 Magellan Gold* O 2108 0.03 0.02 0.03 + 0.00 0.09 0.01 Magna Terra V 5 0.04 0.04 0.04 unch 0.00 0.07 0.03 V 50 0.16 0.14 0.16 + 0.02 0.30 0.14 Magnitude Mng Magnus Intl* O 25 0.01 0.01 0.01 unch 0.00 0.01 0.00 Majestic Gold V 324 0.09 0.08 0.09 unch 0.00 0.10 0.04 O 20 0.05 0.05 0.05 unch 0.00 0.08 0.03 Majestic Gold* Makena Res* O 115 0.07 0.00 0.06 - 0.01 0.15 0.06 0.07 Makena Res 738 0.08 0.00 0.07 - 0.01 0.24 V 79 0.05 0.04 0.05 + 0.01 0.16 0.04 Mammoth Res Mandalay Res T 1324 0.18 0.15 0.15 - 0.02 0.36 0.15 O 485 0.14 0.11 0.12 - 0.02 0.33 0.11 Mandalay Res* O 24 0.11 0.10 0.11 + 0.00 0.21 0.08 Manganese X* Manganese X V 182 0.16 0.13 0.15 + 0.01 0.28 0.09 V 36 0.03 0.03 0.03 unch 0.00 0.04 0.02 Mangazeya Mng Manitou Gold V 128 0.07 0.06 0.06 - 0.02 0.19 0.05 0.10 Maple Gold V 2096 0.14 0.10 0.11 - 0.03 0.34 Maple Gold* O 1396 0.11 0.08 0.08 - 0.03 0.27 0.07 Marathon Gold* O 316 0.71 0.65 0.69 - 0.02 1.03 0.63 Marathon Gold T 700 0.94 0.85 0.92 + 0.01 1.28 0.83 Margaret Lake* O 20 0.03 0.03 0.03 unch 0.00 0.12 0.03 V 559 0.04 0.03 0.04 unch 0.00 0.16 0.03 Margaret Lake Margaux Res V 371 0.14 0.10 0.10 - 0.04 0.35 0.09 unch 0.00 0.27 0.01 Margaux Res* O 10 0.11 0.11 0.11 Marifil Mines* O 97 0.13 0.09 0.10 - 0.02 0.17 0.01 0.10 Marifil Mines V 65 0.16 0.13 0.14 - 0.02 0.32 Maritime Res V 396 0.09 0.08 0.08 + 0.01 0.14 0.07 Marlin Gold V 44 0.13 0.12 0.13 unch 0.00 1.05 0.11 MartinMarietta* N 3060 203.88 195.00 196.26 - 2.46 241.33 189.27 Mas Gold V 45 0.06 0.06 0.06 unch 0.00 0.15 0.06 O 159 0.85 0.75 0.75 - 0.09 2.47 0.71 Mason Graphite* Mason Graphite V 486 1.14 0.98 0.98 - 0.11 3.15 0.91 Mason Res* O 11 0.12 0.11 0.11 - 0.01 0.25 0.01 unch 0.00 0.30 0.14 Mason Res T 212 0.16 0.14 0.15 Matachewan Con V 143 0.18 0.15 0.18 unch 0.00 0.33 0.15 Matica Ent 6087 0.20 0.17 0.17 - 0.03 0.81 0.08 0.06 Matica Ent* O 45 0.16 0.12 0.12 - 0.02 0.64 Matmown* O 1 0.03 0.01 0.03 + 0.02 0.02 0.01 Maudore Mnrls* O 125 0.00 0.00 0.00 unch 0.00 0.00 0.00 Maverix Mtls* O 12 1.60 0.00 1.25 - 0.35 1.72 1.03 Mawson Res T 188 0.29 0.24 0.25 + 0.01 0.65 0.23 0.17 Mawson Res* O 22 0.19 0.17 0.18 + 0.00 0.48 MaxTech Vent* O 109 0.13 0.09 0.12 + 0.01 0.48 0.09 0.12 MaxTech Vent 46 0.18 0.13 0.15 + 0.03 0.60 Maxwell Res* O 821 0.01 0.00 0.00 - 0.00 0.01 0.00 Maya Gold &Sil* O 40 1.80 0.00 1.80 unch 0.00 2.35 0.88 35 2.31 2.07 2.09 - 0.16 3.02 1.10 Maya Gold &Sil T Mazarin V 50 0.08 0.06 0.06 - 0.02 0.18 0.04 0.00 MBMI Res* O 3 0.05 0.04 0.04 - 0.01 0.09 MBMI Res V 22 0.06 0.00 0.06 unch 0.00 0.13 0.03 McChip Res V 10 0.68 0.68 0.68 unch 0.00 0.87 0.37 McEwen Mng T 648 2.76 2.49 2.65 + 0.04 3.46 2.33 McEwen Mng* N 9379 2.10 1.88 2.00 + 0.03 2.86 1.82 McLaren Res 76 0.07 0.04 0.04 - 0.03 0.19 0.03 MDN Inc* O 10 0.17 0.17 0.17 unch 0.00 0.28 0.11 265 0.05 0.04 0.05 unch 0.00 0.26 0.04 Meadow Bay Gd Meadow Bay Gd* O 10 0.04 0.04 0.04 unch 0.00 0.28 0.03 Mechel* N 159 2.69 2.30 2.31 - 0.35 5.68 2.38 0.08 Medallion Res V 76 0.12 0.00 0.11 - 0.01 0.21 Medallion Res* O 15 0.09 0.09 0.09 - 0.00 0.17 0.06 Medgold Res V 147 0.35 0.32 0.35 + 0.01 0.51 0.15 O 18 0.26 0.25 0.25 unch 0.00 0.38 0.12 Medgold Res* Medinah Mnrls* O 12735 0.00 0.00 0.00 + 0.00 0.01 0.00 Mega Copper V 3 0.17 0.00 0.17 unch 0.00 0.18 0.16 Mega Uranium T 1412 0.14 0.12 0.12 - 0.02 0.24 0.12 Mega Uranium* O 70 0.11 0.09 0.10 - 0.01 0.19 0.09 Megastar Dev V 400 0.07 0.06 0.07 + 0.01 0.11 0.05 MegumaGold* O 34 0.15 0.13 0.15 + 0.03 0.24 0.07 MegumaGold 182 0.20 0.18 0.18 - 0.03 0.30 0.15 Melior Res V 18 0.84 0.71 0.84 + 0.01 1.50 0.30 Melkior Res V 767 0.06 0.05 0.06 + 0.01 0.11 0.04 0 0.00 0.00 25.00 unch 0.00 Merger Mines* O Meridian Mg V 135 0.14 0.07 0.14 + 0.07 1.28 0.05 0.18 Meridius Res V 6 0.18 0.18 0.18 - 0.02 0.20 Meryllion Res 17 0.03 0.00 0.02 - 0.02 0.21 0.02 O 1 0.01 0.00 0.01 - 0.00 0.07 0.01 Meryllion Res* unch 0.00 0.05 0.01 MetalCorp V 130 0.02 0.02 0.02 Metalex Vent V 635 0.04 0.00 0.03 - 0.01 0.10 0.02 Metalla Rylty* O 340 0.58 0.52 0.58 + 0.04 0.71 0.39 Metalla Rylty V 579 0.76 0.69 0.75 + 0.02 0.88 0.62 Metallic Mnrls* O 20 0.21 0.20 0.21 + 0.00 0.40 0.18 Metallic Mnrls V 145 0.28 0.24 0.28 + 0.01 0.50 0.24 Metallica Min* O 15 0.02 0.02 0.02 unch 0.00 0.06 0.02 Metallis Res V 175 1.14 1.02 1.05 - 0.07 2.75 0.47 Metalo Manuf 13 0.35 0.15 0.35 unch 0.00 0.57 0.15 Metals Creek V 1415 0.07 0.05 0.06 - 0.01 0.11 0.04 0.03 Metals Creek* O 2410 0.04 0.04 0.04 - 0.00 0.08 unch 0.00 0.96 0.38 Metals X* O 272 0.43 0.41 0.41 Metanor Res* O 16 0.40 0.37 0.39 + 0.02 0.69 0.34 Metanor Res V 229 0.53 0.49 0.52 unch 0.00 0.83 0.46 V 50 0.06 0.06 0.06 unch 0.00 0.08 0.05 Metron Capital Mexican Gold* O 216 0.22 0.17 0.19 - 0.03 0.34 0.12 Mexus Gold* O 1622 0.01 0.01 0.01 - 0.00 0.09 0.01 Mezzotin Mnrls V 89 0.01 0.01 0.01 - 0.01 0.04 0.01 MGX Minerals 1311 0.84 0.75 0.80 + 0.04 1.96 0.69 MGX Minerals* O 1375 0.64 0.58 0.60 + 0.02 1.58 0.53 Midas Gold T 532 0.92 0.80 0.81 - 0.09 1.21 0.55 Midas Gold* O 907 0.71 0.60 0.63 - 0.06 0.95 0.42 Midasco Cap V 30 0.10 0.10 0.10 unch 0.00 0.15 0.07 Midland Expl V 19 0.78 0.71 0.75 - 0.03 1.17 0.71 Midnight Sun V 823 0.22 0.15 0.21 unch 0.00 0.48 0.15 Millennial Lit* O 96 1.62 1.33 1.35 - 0.17 3.87 1.02 Millennial Lit V 280 2.15 1.74 1.83 - 0.14 4.80 1.25 Millrock Res* O 228 0.15 0.13 0.15 + 0.00 0.34 0.13 Millrock Res V 148 0.20 0.18 0.19 + 0.01 0.42 0.18 Milner Con Slv V 18 0.10 0.09 0.10 + 0.01 0.10 0.04 Minaurum Gold V 255 0.54 0.51 0.53 + 0.01 0.67 0.21 Minco Silver* O 54 0.46 0.40 0.42 - 0.02 0.96 0.34 Minco Silver T 75 0.61 0.52 0.55 - 0.03 1.17 0.42 Minera Alamos * O 185 0.10 0.09 0.10 + 0.01 0.18 0.07 Minera Alamos V 1148 0.13 0.13 0.13 unch 0.00 0.23 0.10 Minera IRL 150 0.07 0.07 0.07 unch 0.00 0.14 0.06 Mineral Hill V 2 0.17 0.17 0.17 unch 0.00 0.32 0.13 Mineral Mtn V 291 0.19 0.16 0.17 unch 0.00 0.74 0.15 Mineral Mtn* O 83 0.15 0.00 0.12 - 0.03 0.60 0.12 Mineral Res* O 0 10.47 0.00 10.47 - 0.43 16.78 7.67 MineralRite* O 20492 0.00 0.00 0.00 unch 0.00 0.00 0.00 V 682 0.20 0.18 0.19 - 0.01 0.40 0.06 Mineworx Tech Mineworx Tech* O 131 0.15 0.13 0.14 - 0.01 0.33 0.05 Minfocus Expl V 31 0.05 0.04 0.04 - 0.01 0.42 0.04 Mining Global* O 32261 0.00 0.00 0.00 unch 0.00 0.00 0.00 Minnova Corp V 5 0.69 0.00 0.69 unch 0.00 0.93 0.55 Miramont Res 213 0.15 0.13 0.14 - 0.01 0.65 0.13

22

WWW.NORTHERNMINER.COM

SEPTEMBER 17–30, 2018 / THE NORTHERN MINER

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

Week

12-month

Exc Volume High Low Last Change High Low

Miranda Gold V 2474 Mirasol Res V 91 Mistango River 83 MK2 Ventures V 30 MK2 Ventures * O 0 Mkango Res V 172 ML Gold* O 50 ML Gold Corp V 1836 Monarca Mnrls* O 200 Monarca Mnrls V 47 Monarques Res V 1183 Monarques Res* O 86 Moneta Porcpn* O 128 Moneta Porcpn T 403 Monitor Vent* O 1 Monitor Vent V 7 Monster Uran* O 1 Montan Mg V 142 Montego Res 2221 Montego Res* O 5 Montero Mg&Ex * O 1 Montero Mg&Ex V 56 Monument Mng V 366 Morien Res* O 4 Morien Res V 140 Morumbi Res* O 34 Morumbi Res T 394 Mosaic* N 15098 Mountain Boy V 321 Mountain Boy* O 7 Mountain Prov* D 285 Mountain Prov T 1204 Mundoro Cap* O 204 Mundoro Cap V 616 Murchison Min V 500 MX Gold* O 21

0.03 0.03 0.03 - 0.01 0.08 0.02 1.61 1.41 1.53 unch 0.00 2.60 1.41 0.03 0.00 0.03 - 0.02 0.07 0.01 0.22 0.00 0.22 unch 0.00 0.38 0.09 0.00 0.00 0.13 unch 0.00 0.13 0.08 0.19 0.16 0.16 - 0.03 0.24 0.05 0.06 0.06 0.06 unch 0.00 0.26 0.06 0.09 0.07 0.07 - 0.02 0.32 0.07 0.04 0.04 0.04 unch 0.00 0.12 0.03 0.05 0.00 0.05 unch 0.00 0.16 0.04 0.20 0.17 0.17 - 0.02 0.47 0.18 0.15 0.13 0.13 - 0.01 0.38 0.14 0.08 0.08 0.08 - 0.00 0.17 0.08 0.11 0.10 0.10 - 0.01 0.23 0.10 0.14 0.14 0.14 unch 0.00 0.37 0.12 0.20 0.00 0.20 + 0.02 0.46 0.19 0.04 0.00 0.04 unch 0.00 0.06 0.02 0.06 0.05 0.06 + 0.02 0.11 0.03 0.28 0.21 0.28 + 0.08 0.55 0.07 0.18 0.18 0.18 unch 0.00 0.32 0.08 0.16 0.16 0.16 unch 0.00 0.38 0.13 0.21 0.19 0.19 - 0.01 0.49 0.12 0.07 0.06 0.06 - 0.01 0.09 0.06 0.42 0.42 0.42 - 0.00 0.60 0.37 0.61 0.56 0.56 - 0.05 0.77 0.47 0.58 0.53 0.53 - 0.04 0.96 0.39 0.75 0.70 0.72 - 0.03 1.23 0.50 31.46 29.67 29.94 - 1.33 32.32 19.23 0.08 0.06 0.07 unch 0.00 0.11 0.05 0.04 0.04 0.04 - 0.00 0.08 0.03 2.15 1.75 1.90 - 0.15 3.53 1.85 2.75 2.36 2.43 - 0.28 4.25 2.40 0.13 0.12 0.12 - 0.00 0.16 0.06 0.17 0.16 0.16 - 0.01 0.21 0.09 0.11 0.09 0.09 unch 0.00 0.25 0.09 0.01 0.00 0.01 unch 0.00 0.17 0.01

NA Frac Sand* O 221 NACCO Ind* N 48 Namibia Crit V 127 Namibia Crit* O 78 Napier Vent V 7 Natural Res Pt* N 97 Nautilus Mnrls T 1734 Nautilus Mnrls* O 1158 Navis Res Corp 1 Navy Res V 10 Nemaska Lith T 10418 Nemaska Lith* O 901 Neo Lithium V 709 Neometals* O 119 Network Expl V 134 Nevada Canyon* O 5 Nevada Clean M* O 277 Nevada Clean M V 979 Nevada Copper T 287 Nevada Energy* O 5 Nevada Energy V 41 Nevada Expl * O 445 Nevada Expl V 574 Nevada Sunrise* O 132 Nevada Sunrise V 353 Nevada Zinc V 251 Nevado Res V 556 Nevsun Res* X 27310 Nevsun Res T 17730 New Age Metals V 258 New Age Metals* O 21 New Carolin Gd* O 9 New Carolin Gd V 476 New Destiny Mg V 211 New Dimen Res V 207 New Dimen Res* O 10 New Energy Met V 138 New Energy Met* O 61 New Gold* X 16046 New Gold T 4876 New Guinea Gld* O 696 New Jersey Mng* O 269 New Klondike* O 0 New Milln Iron* O 307 New Milln Iron T 309 New Nadina V 42 New Nadina* O 15 New Oroperu V 13 New Pac Metals V 28 New Pac Metals* O 6 New Point Expl* O 482 New Point Expl 996 New Tech Lith 144 New Tech Lith* O 27 New World Res V 90 Newlox Gold 38 Newmac Res V 9 Newmont Mng* N 28350 Newport Expl V 292 Newport Gold* O 103 O 171 NewRange Gold* NewRange Gold V 140 Nexa Resources T 4 Nexa Resources* N 508 Nexco Res 34 X 2143 Nexgen Energy* Nexgen Energy T 2623 NextSource Mat T 483 Nexus Gold V 687 Nexus Gold* O 131 NGEx Res* O 3 NGEx Res T 796 Nickel Creek T 1396 Nickel Creek* O 714 Nickel North V 229 10 Nickel One Res* O Nickel One Res V 233 Nicola Mg Inc V 651 Nicola Mg Inc* O 12 Nighthawk Gold* O 74 T 449 Nighthawk Gold Niobay Metals V 118 Niocan Inc V 82 Niocorp Dev T 469 Niocorp Dev* O 753 V 22 Nippon Dragon Nippon Dragon* O 17 Nitinat Mnls* O 0 Nitinat Mnls V 67 NKWE Platinum* O 86 224 Noble Metal Gr V Noble Mnl Expl* O 11 Noble Mnl Expl V 341 Noka Res* O 416 Noram Vent V 93 Noram Vent* O 25 Noranda Alum* O 7 Noront Res V 490 Norsemont Cap 2 Nortec Mnls V 402 North Am Nickl V 193 2 North Am Nickl* O North Am Pall T 23 North Am Pall* O 15 North Arrow Mn* O 7 North Arrow Mn V 21 North Bay Res * O 18521 Northcliff Res T 84 Northern Uran V 64 Northisle C&G V 543 Northn Empire V 553 Northn Empire* O 72 Norvista Cap V 453 Nouveau Monde* O 79 Nouveau Monde V 812 NovaGold Res T 658 NovaGold Res* X 4434 Novo Res* O 424 Novo Res V 832 NRG Metals* O 1038 NRG Metals V 584 Nrthn Graphite* O 289 Nrthn Graphite V 185 Nrthn Lion V 2 Nrthn Mnrls &E* O 128 Nrthn Shield V 344 Nrthn Superior* O 2 Nrthn Superior V 657 Nrthn Vertex* O 70 Nrthn Vertex V 596 NSGold V 78 NSS Res Inc 338

0.01 0.01 0.01 unch 0.00 0.02 0.01 35.20 33.40 34.15 - 1.00 48.85 15.89 0.27 0.23 0.24 unch 0.00 0.46 0.04 0.21 0.18 0.19 + 0.00 2.77 0.03 0.35 0.31 0.35 unch 0.00 0.54 0.26 31.35 29.92 30.00 - 0.75 37.70 23.75 0.11 0.09 0.10 - 0.01 0.39 0.09 0.08 0.07 0.07 - 0.01 0.31 0.07 0.00 0.00 0.37 unch 0.00 1.20 0.23 0.20 0.20 0.20 unch 0.00 0.32 0.17 0.80 0.67 0.72 - 0.08 2.44 0.60 0.62 0.51 0.54 - 0.06 1.96 0.46 1.12 0.99 1.08 + 0.04 2.75 0.91 0.24 0.22 0.22 - 0.02 0.80 0.10 0.31 0.28 0.29 - 0.01 0.48 0.28 0.04 0.04 0.04 unch 0.00 0.22 0.04 0.03 0.02 0.03 + 0.01 0.05 0.02 0.04 0.03 0.04 + 0.01 0.07 0.03 0.51 0.45 0.48 - 0.01 0.84 0.44 0.15 0.13 0.13 - 0.02 0.52 0.07 0.20 0.16 0.16 - 0.03 0.60 0.15 0.24 0.17 0.22 + 0.03 0.35 0.09 0.31 0.22 0.30 + 0.05 0.46 0.12 0.06 0.06 0.06 + 0.00 0.21 0.05 0.08 0.07 0.07 unch 0.00 0.25 0.07 0.16 0.15 0.16 unch 0.00 0.26 0.13 0.02 0.01 0.02 + 0.01 0.05 0.01 4.45 3.71 4.40 + 0.62 4.45 1.98 5.85 4.87 5.82 + 0.88 5.85 2.50 0.07 0.06 0.07 unch 0.00 0.19 0.05 0.05 0.04 0.04 - 0.01 0.15 0.04 0.22 0.21 0.22 + 0.02 0.58 0.18 0.31 0.26 0.26 - 0.04 0.77 0.20 0.20 0.13 0.20 + 0.06 0.35 0.10 0.19 0.14 0.14 - 0.05 0.30 0.09 0.15 0.15 0.15 unch 0.00 0.22 0.02 0.08 0.00 0.08 + 0.01 0.90 0.05 0.06 0.05 0.06 + 0.01 0.60 0.05 0.98 0.81 0.82 - 0.15 4.25 0.83 1.28 1.08 1.10 - 0.18 5.16 1.10 0.00 0.00 0.00 + 0.00 0.00 0.00 0.18 0.15 0.17 - 0.00 0.25 0.11 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.05 0.05 unch 0.00 0.10 0.05 0.07 0.06 0.06 unch 0.00 0.14 0.06 0.14 0.12 0.14 + 0.02 4.60 0.08 0.09 0.00 0.08 - 0.01 3.60 0.07 0.40 0.00 0.40 + 0.10 0.55 0.27 1.55 1.43 1.55 unch 0.00 1.70 1.21 1.22 1.17 1.18 - 0.03 1.29 0.97 0.03 0.02 0.02 unch 0.00 0.05 0.02 0.06 0.05 0.06 unch 0.00 0.41 0.05 0.05 0.04 0.04 unch 0.00 0.17 0.04 0.04 0.03 0.03 - 0.00 0.13 0.02 0.18 0.18 0.18 unch 0.00 0.29 0.10 0.05 0.05 0.05 + 0.01 0.08 0.03 0.08 0.08 0.08 unch 0.00 0.09 0.06 31.43 29.85 30.13 - 0.90 42.04 30.00 0.32 0.00 0.31 + 0.01 0.38 0.22 0.03 0.03 0.03 unch 0.00 0.08 0.02 0.10 0.08 0.08 + 0.00 0.47 0.05 0.13 0.10 0.11 unch 0.00 0.62 0.10 16.14 14.50 14.70 - 1.04 26.70 14.61 12.52 10.95 11.20 - 0.85 21.61 10.90 0.21 0.20 0.20 - 0.01 0.50 0.15 1.96 1.74 1.80 - 0.14 2.85 1.65 2.56 2.30 2.37 - 0.17 3.58 2.12 0.09 0.08 0.08 - 0.01 0.22 0.06 0.28 0.23 0.24 + 0.01 1.85 0.19 0.22 0.17 0.18 + 0.01 0.29 0.02 0.78 0.75 0.75 - 0.02 1.10 0.75 1.02 1.00 1.00 unch 0.00 1.49 0.91 0.18 0.13 0.14 - 0.04 0.38 0.15 0.14 0.10 0.10 - 0.03 0.31 0.10 0.03 0.02 0.02 - 0.01 0.07 0.02 0.02 0.02 0.02 unch 0.00 0.11 0.01 0.03 0.00 0.03 unch 0.00 0.13 0.02 0.12 0.11 0.12 - 0.01 0.21 0.10 0.10 0.09 0.10 + 0.01 0.16 0.07 0.29 0.24 0.24 - 0.03 0.85 0.22 0.38 0.30 0.31 - 0.05 1.02 0.30 0.22 0.18 0.22 + 0.04 0.43 0.13 0.28 0.19 0.28 + 0.10 0.28 0.06 0.62 0.59 0.60 - 0.01 0.78 0.37 0.48 0.44 0.47 - 0.00 0.62 0.29 0.03 0.00 0.03 + 0.01 0.07 0.03 0.03 0.00 0.02 - 0.01 0.05 0.01 0.00 0.00 0.11 unch 0.00 0.36 0.03 0.11 0.08 0.08 - 0.03 0.51 0.04 0.06 0.06 0.06 unch 0.00 2.04 0.02 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.07 0.06 0.07 + 0.01 0.15 0.04 0.10 0.08 0.10 + 0.01 0.19 0.06 0.40 0.30 0.31 - 0.08 0.71 0.05 0.17 0.00 0.17 + 0.02 0.80 0.12 0.11 0.11 0.11 unch 0.00 0.64 0.09 0.02 0.01 0.02 + 0.01 0.17 0.01 0.33 0.31 0.32 - 0.01 0.45 0.27 0.34 0.34 0.34 unch 0.00 0.47 0.32 0.06 0.05 0.06 + 0.01 0.18 0.04 0.07 0.06 0.07 unch 0.00 0.10 0.06 0.06 0.05 0.05 - 0.01 0.08 0.04 9.58 8.95 9.05 - 0.22 11.98 5.60 7.19 6.79 6.86 - 0.33 9.38 4.52 0.13 0.00 0.13 unch 0.00 0.22 0.13 0.18 0.17 0.17 - 0.01 0.29 0.16 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.09 0.09 0.09 - 0.01 0.18 0.09 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.13 0.10 0.12 + 0.02 0.21 0.09 1.45 1.24 1.32 - 0.02 1.62 0.72 1.09 0.93 1.01 - 0.02 1.29 0.61 0.12 0.09 0.10 - 0.02 0.16 0.08 0.22 0.21 0.22 + 0.01 0.42 0.18 0.31 0.26 0.30 + 0.03 0.54 0.25 4.83 4.54 4.62 - 0.18 6.47 4.33 3.71 3.45 3.49 - 0.18 5.05 3.35 3.07 2.45 2.62 - 0.41 7.08 1.98 4.00 3.22 3.46 - 0.49 8.83 2.45 0.18 0.15 0.17 + 0.01 0.49 0.08 0.24 0.21 0.23 + 0.02 0.62 0.10 0.24 0.20 0.21 - 0.02 0.55 0.19 0.32 0.27 0.27 - 0.04 0.70 0.24 0.22 0.00 0.22 + 0.03 0.67 0.19 0.07 0.04 0.06 unch 0.00 0.10 0.02 0.03 0.00 0.03 + 0.01 0.06 0.02 0.03 0.03 0.03 unch 0.00 0.04 0.02 0.03 0.03 0.03 + 0.01 0.05 0.03 0.23 0.22 0.23 - 0.00 0.58 0.22 0.32 0.27 0.30 + 0.01 0.70 0.28 0.10 0.10 0.10 - 0.01 0.15 0.02 0.26 0.18 0.25 + 0.07 1.39 0.06

N-O

(100s) Stock

Week

(100s) Stock

12-month

Exc Volume High Low Last Change High Low

Nthn Dynasty T 370 Nthn Dynasty* X 2713 Nthrn Sphere* O 10 Nthrn Sphere 202 Nubian Res V 37 NuLegacy Gold V 329 O 972 NuLegacy Gold* Nunavik Nickel V 11 Nutrien T 4882 N 7851 Nutrien* NV Gold* O 79 NV Gold V 115 NX Uranium* O 10 NxGold Ltd* O 131 NxGold Ltd V 669 O.T. Mining* O 0 OceanaGold* O 17 OceanaGold T 4580 Oceanic Iron O V 283 Oceanic Iron O* O 4 Oceanus Res V 80 Oceanus Res* O 8 OK2 Minerals V 3447 Olivut Res V 101 Olivut Res* O 37 Omineca Mg &Ml V 29 132 One World Lith Opawica Expl V 30 515 Opus One Res V Orbite Tech* O 79 Orca Gold V 388 Orca Gold* O 45 Orefinders Res V 77 Orestone Mng V 155 Orex Mnrls* O 3 Orex Mnrls V 174 Orezone Gold V 221 O 119 Orezone Gold* Orford Mining V 10 Organic Potash 56 OrganiMax V 714 Origin Gold V 123 54 Orla Mng Ltd* O Orla Mng Ltd V 136 Oroco Res* O 62 Oroco Res V 355 Orocobre T 514 Oronova Energy V 270 Oroplata Res* O 696 Orosur Mng T 4649 Orsu Metals V 5 Orsu Metals* O 1 Orvana Mnrls T 151 O 18 Orvana Mnrls* Osino Res V 49 Osisko Gold* N 2786 Osisko Gold T 1398 Osisko Metals* O 58 Osisko Metals V 606 Osisko Mng Inc T 3894 Osprey Gold V 611 Otis Gold V 364 Otis Gold* O 50 OZ Minerals* O 12

0.78 0.73 0.73 - 0.04 2.99 0.55 0.59 0.54 0.55 - 0.03 2.34 0.43 0.06 0.06 0.06 unch 0.00 0.18 0.03 0.07 0.06 0.06 - 0.01 0.45 0.05 0.15 0.12 0.15 + 0.03 0.34 0.12 0.20 0.18 0.18 - 0.02 0.25 0.13 0.16 0.13 0.14 - 0.02 0.20 0.11 0.11 0.00 0.11 + 0.01 0.15 0.08 74.26 70.80 72.31 - 1.03 76.12 55.27 56.93 53.81 54.82 - 1.81 58.70 40.41 0.14 0.10 0.10 - 0.04 0.92 0.10 0.20 0.14 0.17 - 0.04 1.22 0.13 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.11 0.10 0.10 - 0.01 0.25 0.10 0.15 0.11 0.13 - 0.01 0.40 0.11 0.00 0.00 0.09 unch 0.00 0.20 0.04 2.98 2.77 2.77 - 0.14 3.30 2.23 3.94 3.69 3.73 - 0.13 4.19 2.92 0.05 0.05 0.05 unch 0.00 0.16 0.05 0.03 0.03 0.03 unch 0.00 0.11 0.03 0.17 0.15 0.15 + 0.01 0.36 0.13 0.12 0.11 0.12 + 0.01 0.29 0.11 0.05 0.03 0.03 unch 0.00 0.14 0.03 0.13 0.09 0.12 + 0.02 0.20 0.07 0.10 0.07 0.09 + 0.01 0.15 0.06 0.04 0.03 0.03 unch 0.00 0.05 0.03 0.15 0.13 0.14 - 0.01 0.20 0.10 0.06 0.06 0.06 unch 0.00 0.33 0.05 0.07 0.04 0.07 unch 0.00 0.12 0.04 0.03 0.03 0.03 unch 0.00 0.15 0.00 0.56 0.51 0.53 - 0.01 0.78 0.43 0.42 0.38 0.42 + 0.02 0.63 0.32 0.06 0.06 0.06 unch 0.00 0.17 0.06 0.09 0.06 0.07 + 0.01 0.13 0.06 0.07 0.06 0.07 + 0.01 0.15 0.05 0.11 0.08 0.10 + 0.02 0.18 0.08 0.70 0.64 0.66 + 0.01 1.02 0.57 0.53 0.48 0.50 + 0.00 0.82 0.42 0.18 0.18 0.18 unch 0.00 0.70 0.16 0.04 0.03 0.04 unch 0.00 0.08 0.01 0.09 0.07 0.08 unch 0.00 0.35 0.07 0.12 0.09 0.11 - 0.01 0.25 0.08 1.00 0.92 0.93 - 0.07 1.48 0.83 1.31 1.21 1.23 - 0.08 1.85 1.08 0.18 0.15 0.15 - 0.03 0.24 0.03 0.24 0.21 0.22 - 0.02 0.31 0.02 4.10 3.28 3.49 - 0.58 7.36 3.28 0.07 0.06 0.06 - 0.01 0.22 0.06 0.16 0.11 0.15 + 0.01 0.42 0.06 0.04 0.02 0.03 + 0.01 0.30 0.02 0.20 0.00 0.20 unch 0.00 0.29 0.13 0.21 0.21 0.21 unch 0.00 0.22 0.11 0.17 0.15 0.16 - 0.01 0.28 0.13 0.14 0.12 0.13 + 0.01 0.23 0.10 0.30 0.27 0.28 - 0.01 0.64 0.21 8.12 7.40 7.64 - 0.30 14.39 7.41 10.58 9.75 10.07 - 0.28 17.45 9.78 0.44 0.00 0.44 + 0.02 1.22 0.39 0.61 0.55 0.58 - 0.02 1.50 0.51 2.46 1.98 2.41 + 0.34 4.95 1.60 0.06 0.05 0.05 - 0.01 0.23 0.04 0.18 0.17 0.17 - 0.01 0.36 0.16 0.14 0.12 0.13 + 0.00 0.29 0.12 6.25 0.00 6.05 - 0.94 8.02 5.92

Pac Bay Mnrls* O 4 Pac Bay Mnrls V 11 Pac Booker Min* O 3 11 Pac Booker Min V Pac Imperial V 145 2 Pac Iron Ore V Pac Ridge Expl V 142 Pac Ridge Expl* O 120 Pac Wildcat* O 51 V 6 Pacific Empire Pacific Rim* O 231 Pacific Rim 224 Pacific Silk V 106 Pacton Gold V 3174 O 337 Paladin Energy* Palamina Corp* O 10 V 32 Palamina Corp Pan Am Silver* D 5959 Pan Am Silver T 1124 Pan Andean Min V 242 Pan Andean Min* O 2 Pan Global Res V 168 Pancontinental V 208 O 30 Pancontinental* Panex Res* O 10 Pangolin Dia V 548 Panoro Mnrls V 67 Pantheon Vent V 1141 Para Resources V 43 Parallel Mng V 321 75 Parallel Mng * O Paramount Gold* X 137 Paringa Res* O 405 Parlane Res V 65 Pasinex Res 179 Patriot Gold* O 174 Peabody Enrgy* N 4943 Pelangio Expl V 20 Pele Mtn Res* O 2 Peloton Mnrls 59 Peloton Mnrls* O 23 O 4 PepinNini Lith* Peregrine Diam T 230 Perseus Mng T 116 9 Pershing Gold T Pershing Gold* D 781 Pershing Res* O 26 Peruvian Metal* O 233 Peruvian Metal V 255 Petra Diamonds* O 5 Philex Mng* O 19 Philippine Mtl V 46 Pine Cliff En* O 181 Pine Cliff En T 454 Pinecrest Res * O 16 Pinecrest Res V 45 8 Pistol Bay Mng* O Pistol Bay Mng V 760 Pivit Explor 843 2 PJSC Polyus Gd* O PJX Res V 68 Plata Latina V 384 Plateau Energy* O 173 Plateau Energy V 247 Platinex Inc 206 Platinum Gp Mt* X 6182 Platinum Gp Mt T 1131 Plato Gold V 129 Playfair Mng V 403 Playfair Mng* O 6 PolyMet Mng* X 2007 PolyMet Mng T 50 Portage Res* O 293 Portofino Res V 369 Potash Ridge* O 137 Potash Ridge T 865 Power Metals* O 480 Power Metals V 793 PowerOre V 33 PPX Mining* O 78 PPX Mining V 1523 Precipitate Gl V 102 Precipitate Gl* O 47 Premier Gold M T 1204 Premium Expl* O 1 Pretium Res* N 27389 Pretium Res T 5974 Primary Energy 603 Prism Res V 8 Prize Mng* O 100 Prize Mng V 1287 ProAm Expl V 75 Probe Metals* O 231 Probe Metals V 183 Prog Planet V 207 Promithian Gl * O 0 Prophecy Coal* O 455 Prophecy Coal T 2116 Prospect Glob* O 5 Prospector Res* O 33 Prospector Res V 337 Prosper Gold V 716 Prospero Silvr V 362

0.01 0.01 0.01 unch 0.00 0.04 0.01 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.72 0.72 0.72 - 0.05 1.10 0.59 0.95 0.90 0.92 + 0.02 1.35 0.70 0.04 0.04 0.04 unch 0.00 0.07 0.01 0.08 0.08 0.08 unch 0.00 0.23 0.03 0.06 0.04 0.05 + 0.01 0.07 0.04 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.07 0.05 0.07 + 0.01 0.39 0.00 0.12 0.12 0.12 unch 0.00 0.20 0.10 0.21 0.18 0.19 unch 0.00 1.25 0.15 0.28 0.24 0.25 - 0.01 1.59 0.20 0.04 0.03 0.03 - 0.01 0.06 0.03 0.53 0.39 0.40 - 0.12 1.02 0.06 0.20 0.13 0.14 - 0.01 0.50 0.00 0.28 0.22 0.25 - 0.04 0.37 0.12 0.36 0.30 0.31 - 0.05 0.47 0.16 15.82 14.56 14.96 - 0.63 19.15 13.99 20.63 19.17 19.71 - 0.68 24.22 18.00 0.06 0.03 0.06 + 0.01 0.13 0.03 0.04 0.00 0.04 unch 0.00 0.08 0.02 0.20 0.16 0.17 - 0.03 0.30 0.10 0.08 0.07 0.07 - 0.01 0.09 0.02 0.06 0.05 0.05 - 0.00 0.07 0.01 0.00 0.00 0.00 + 0.00 0.00 0.00 0.05 0.05 0.05 + 0.01 0.08 0.04 0.25 0.23 0.23 - 0.03 0.48 0.21 0.09 0.08 0.09 + 0.01 0.16 0.07 0.19 0.17 0.17 - 0.01 0.25 0.13 0.05 0.04 0.05 unch 0.00 0.10 0.03 0.04 0.04 0.04 + 0.00 0.05 0.04 1.09 1.01 1.05 + 0.02 1.80 1.01 0.15 0.14 0.14 - 0.01 0.45 0.12 0.16 0.13 0.13 - 0.03 0.30 0.05 0.12 0.10 0.11 + 0.01 0.32 0.08 0.08 0.06 0.08 + 0.01 0.11 0.04 43.03 40.36 42.56 + 1.25 47.84 28.08 0.14 0.13 0.14 + 0.01 0.60 0.13 0.02 0.02 0.02 unch 0.00 0.30 0.02 0.11 0.10 0.11 unch 0.00 0.15 0.06 0.08 0.07 0.07 - 0.01 0.12 0.05 0.01 0.01 0.01 unch 0.00 0.07 0.01 0.24 0.24 0.24 unch 0.00 0.24 0.12 0.35 0.32 0.32 - 0.03 0.50 0.30 1.72 1.25 1.37 - 0.35 4.02 1.48 1.32 0.95 1.01 - 0.30 3.23 1.07 0.02 0.02 0.02 + 0.00 0.09 0.01 0.04 0.04 0.04 unch 0.00 0.08 0.03 0.06 0.06 0.06 unch 0.00 0.10 0.04 0.46 0.41 0.41 - 0.05 1.10 0.41 0.05 0.05 0.05 unch 0.00 0.19 0.05 0.06 0.06 0.06 unch 0.00 0.15 0.06 0.29 0.28 0.28 - 0.01 0.54 0.21 0.38 0.31 0.35 - 0.03 0.70 0.27 0.17 0.00 0.17 unch 0.00 0.27 0.14 0.22 0.22 0.22 unch 0.00 0.38 0.19 0.04 0.03 0.04 + 0.01 0.08 0.03 0.08 0.06 0.07 + 0.01 0.18 0.04 0.09 0.08 0.08 - 0.01 0.19 0.08 37.00 0.00 37.00 + 1.00 50.23 29.00 0.23 0.20 0.22 - 0.01 0.25 0.11 0.03 0.03 0.03 unch 0.00 0.05 0.03 0.94 0.82 0.87 - 0.04 1.27 0.21 1.21 1.07 1.19 - 0.01 1.69 0.26 0.08 0.07 0.07 - 0.01 0.30 0.05 0.12 0.10 0.12 + 0.02 0.58 0.08 0.16 0.13 0.15 + 0.02 0.72 0.12 0.04 0.03 0.04 + 0.01 0.06 0.02 0.06 0.04 0.05 - 0.01 0.09 0.04 0.05 0.04 0.05 unch 0.00 0.08 0.03 1.01 0.80 0.97 + 0.16 1.36 0.58 1.30 1.05 1.27 + 0.21 1.66 0.72 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.06 0.05 0.06 + 0.01 0.19 0.04 0.06 0.05 0.05 - 0.01 0.14 0.04 0.07 0.06 0.07 + 0.01 0.17 0.05 0.21 0.17 0.18 - 0.02 0.70 0.17 0.27 0.22 0.23 - 0.04 0.88 0.23 0.10 0.08 0.10 + 0.03 0.45 0.08 0.07 0.07 0.07 - 0.00 0.08 0.04 0.10 0.09 0.10 unch 0.00 0.11 0.06 0.06 0.05 0.06 + 0.01 0.18 0.05 0.04 0.03 0.04 - 0.01 0.14 0.03 1.92 1.75 1.84 - 0.04 4.11 1.75 0.01 0.01 0.01 unch 0.00 0.02 0.00 8.60 6.53 7.11 - 1.18 12.44 6.17 11.21 8.59 9.38 - 1.47 15.52 7.93 0.05 0.03 0.05 unch 0.00 0.15 0.03 0.06 0.00 0.06 unch 0.00 0.20 0.05 0.13 0.00 0.12 - 0.01 0.38 0.11 0.19 0.16 0.17 - 0.01 0.48 0.14 0.04 0.04 0.04 unch 0.00 0.04 0.02 0.94 0.89 0.94 unch 0.00 1.42 0.77 1.25 1.13 1.23 - 0.02 1.74 1.03 0.06 0.05 0.06 unch 0.00 0.20 0.05 0.00 0.00 0.02 unch 0.00 0.10 0.02 0.13 0.10 0.11 - 0.01 4.00 0.10 0.17 0.13 0.15 - 0.02 0.50 0.13 0.05 0.00 0.02 unch 0.00 0.14 0.02 0.49 0.47 0.47 - 0.02 0.83 0.38 0.66 0.61 0.61 - 0.04 1.15 0.48 0.10 0.07 0.10 + 0.03 0.17 0.07 0.09 0.08 0.09 + 0.01 0.26 0.07

P-Q

Week

12-month

Exc Volume High Low Last Change High Low

Prospero Silvr* O 65 Provenance Gld 9 Providence V 108 Providence Gld* O 15 138 PUF Vent Inc * O PUF Vent Inc 1030 Puma Expl V 373 Puma Expl* O 39 Pure Energy* O 601 565 Pure Energy V Pure Gold Mg* O 104 Pure Gold Mg V 664 Pure Nickel V 1349 Pure Nickel* O 5 Purepoint Uran V 467 Q-Gold Res* O 0 Q-Gold Res V 350 QC Precious V 306 QMC Quantum Ml* O 416 QMC Quantum Ml V 401 QMX Gold V 602 QMX Gold* O 20 Quadro Res V 10 Quantum Cobalt 53 0 Quartz Mtn Res V Quartz Mtn Res* O 1 Quaterra Res V 147 Quaterra Res* O 789 Quest Rare Mnl* O 54 Quinto Res V 162

0.07 0.05 0.07 - 0.00 0.18 0.05 0.20 0.00 0.18 - 0.01 0.40 0.08 0.15 0.00 0.15 + 0.03 0.25 0.09 0.11 0.10 0.11 + 0.00 0.15 0.08 0.50 0.44 0.44 - 0.03 1.85 0.30 0.63 0.58 0.60 - 0.01 2.09 0.38 0.07 0.07 0.07 unch 0.00 0.13 0.05 0.06 0.05 0.06 + 0.00 0.09 0.04 0.09 0.08 0.08 - 0.00 0.50 0.07 0.12 0.10 0.11 - 0.01 0.57 0.09 0.44 0.40 0.43 - 0.01 0.56 0.36 0.57 0.51 0.56 - 0.01 0.71 0.46 0.03 0.02 0.02 - 0.01 0.05 0.02 0.02 0.01 0.01 - 0.01 0.04 0.01 0.08 0.07 0.07 unch 0.00 0.10 0.06 0.00 0.00 0.07 unch 0.00 0.08 0.06 0.20 0.18 0.20 + 0.01 0.30 0.10 0.32 0.27 0.30 + 0.03 0.60 0.26 0.32 0.27 0.28 - 0.04 1.46 0.09 0.41 0.34 0.37 - 0.04 1.85 0.10 0.10 0.09 0.09 unch 0.00 0.35 0.09 0.07 0.07 0.07 unch 0.00 0.29 0.07 0.05 0.05 0.05 unch 0.00 0.16 0.04 0.19 0.16 0.16 - 0.01 1.90 0.13 0.00 0.00 0.80 unch 0.00 1.50 0.65 0.69 0.00 0.69 - 0.01 1.20 0.00 0.06 0.00 0.06 + 0.01 0.12 0.05 0.05 0.04 0.05 + 0.01 0.09 0.03 0.01 0.00 0.00 - 0.00 0.02 0.00 0.08 0.07 0.08 unch 0.00 0.14 0.05

Rackla Mtls V 5 Rackla Mtls* O 5 V 252 Radisson Mng Radius Gold V 1413 Rae-Wallace Mg* O 6 O 15 Rainforest Res* Rainy Mtn Royl V 191 Rainy Mtn Royl* O 2 79 Rambler Ml &Mg V Randgold Res* O 0 Randgold Res* D 3040 Randsburg Int* O 40 V 191 Randsburg Intl Rare Element* O 325 V 103 Rathdowney Res Ravencrest Res 2405 RB Energy* O 28 Red Eagle Mng T 1487 Red Eagle Mng* O 75 22 Red Moon Res V Red Pine Expl V 569 Redhawk Res V 14 Redstar Gold* O 104 Redstar Gold V 437 Redzone Res V 67 Redzone Res* O 8 Regency Gold V 32 Regulus Res V 281 Renaissance Gd* O 138 V 103 Renaissance Gd Renforth Res 401 Resolve Vent V 115 Resource Cap V 4324 Resource Cap* O 212 Reunion Gold V 280 Revelo Res V 78 Revival Gold * O 113 Revival Gold V 231 Richmond Mnls V 90 V 90 Ridgestone M’g Rift Valley 167 Rimrock Gold* O 209274 Rio Silver V 25 Rio Tinto* O 1 Rio Tinto* N 13133 Rio Tinto* O 1 Rise Gold Corp 1192 River Wild Exp 20 Riverside Res* O 160 Riverside Res V 153 Rizal Res V 617 RJK Explor V 243 RJK Explor* O 5 Robex Res V 600 Rochester Res V 1 O 0 Rochester Res* Rock Tech Lith* O 1 Rock Tech Lith V 7 Rockcliff Met V 438 Rockcliff Met* O 28 Rockex Mng 3032 Rockhaven Res V 91 Rockridge Res V 49 Rockshield Cap* O 361 Rockshield Cap 1069 Rockwealth Res V 3 Rockwell Diam* O 6 Rodinia Lithm V 96 Rogue Res V 35 V 100 Rokmaster Res Romios Gold Rs* O 162 Romios Gold Rs V 619 RosCan Mrnls V 300 1 Rosita Mg Corp* O Rosita Mg Corp V 89 Rotation Mnls V 338 V 47 Roughrider Exp Rover Metals V 2943 T 1008 Roxgold Roxgold* O 11 Royal Gold* D 2545 Royal Mines &M* O 447 Royal Nickel T 2093 Royal Nickel* O 278 Royal Rd Mnrls V 488 Royal Std Mnrl* O 523 RT Minerals V 560 RT Minerals* O 0 0 RTG Mining * O RTG Mining T 10 Rubicon Mnrls* O 88 T 36 Rubicon Mnrls Rugby Mng V 162 Running Fox Rs* O 382 Running Fox Rs V 72 Rupert Res V 26 Rusoro Mng* O 148 Rusoro Mng V 404

0.12 0.12 0.12 unch 0.00 0.17 0.09 0.09 0.09 0.09 unch 0.00 0.13 0.07 0.12 0.09 0.11 - 0.01 0.25 0.09 0.15 0.10 0.14 + 0.03 0.16 0.09 0.01 0.01 0.01 unch 0.00 0.02 0.00 8.16 0.00 8.16 + 1.16 9.45 3.50 0.03 0.00 0.02 - 0.01 0.10 0.02 0.01 0.01 0.01 + 0.00 0.08 0.01 0.06 0.00 0.05 - 0.01 0.19 0.05 62.16 0.00 62.16 - 3.58 101.90 65.74 65.99 61.49 62.49 - 2.80 108.29 62.55 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.02 0.01 0.01 - 0.01 0.02 0.01 0.13 0.10 0.13 + 0.02 0.44 0.08 0.14 0.13 0.14 - 0.01 0.21 0.10 0.87 0.70 0.79 - 0.02 2.10 0.38 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.09 0.08 0.09 + 0.01 0.36 0.06 0.07 0.06 0.07 + 0.01 0.29 0.05 0.11 0.00 0.10 unch 0.00 0.16 0.04 0.06 0.06 0.06 - 0.01 0.14 0.06 0.04 0.04 0.04 unch 0.00 0.08 0.04 0.03 0.02 0.03 + 0.00 0.09 0.02 0.04 0.03 0.03 - 0.01 0.11 0.03 0.23 0.16 0.16 - 0.07 0.75 0.10 0.18 0.18 0.18 unch 0.00 0.57 0.08 0.20 0.00 0.20 unch 0.00 0.28 0.12 1.95 1.85 1.86 - 0.03 3.00 1.52 0.16 0.14 0.14 - 0.02 0.38 0.13 0.21 0.19 0.19 - 0.01 0.48 0.17 0.04 0.03 0.03 - 0.01 0.06 0.03 0.09 0.00 0.09 - 0.01 1.04 0.08 0.04 0.02 0.03 - 0.01 0.17 0.02 0.03 0.02 0.02 - 0.00 0.12 0.02 0.15 0.14 0.14 + 0.01 0.18 0.11 0.02 0.01 0.02 unch 0.00 0.06 0.01 0.65 0.57 0.65 + 0.06 0.73 0.42 0.85 0.75 0.84 + 0.07 0.99 0.54 0.04 0.04 0.04 - 0.01 0.18 0.04 0.27 0.27 0.27 unch 0.00 0.32 0.19 0.08 0.07 0.08 + 0.01 0.15 0.05 0.00 0.00 0.00 + 0.00 0.00 0.00 0.05 0.05 0.05 unch 0.00 0.07 0.04 45.26 0.00 45.26 - 3.12 60.00 45.06 48.29 45.76 46.27 - 1.76 60.72 46.24 51.33 0.00 51.33 unch 0.00 65.30 50.15 0.08 0.07 0.07 unch 0.00 0.21 0.07 0.05 0.03 0.03 - 0.02 0.22 0.02 0.16 0.13 0.14 - 0.01 0.42 0.13 0.20 0.18 0.19 unch 0.00 0.36 0.18 0.03 0.02 0.03 unch 0.00 0.06 0.01 0.17 0.11 0.17 + 0.03 0.23 0.05 0.12 0.12 0.12 unch 0.00 0.13 0.03 0.12 0.12 0.12 - 0.01 0.13 0.08 0.03 0.00 0.03 - 0.01 0.09 0.03 0.00 0.00 0.02 unch 0.00 0.06 0.02 0.75 0.75 0.75 unch 0.00 1.66 0.75 1.05 0.94 1.01 - 0.04 2.16 0.84 0.13 0.10 0.11 - 0.01 0.36 0.08 0.10 0.10 0.10 unch 0.00 0.10 0.09 0.09 0.06 0.09 unch 0.00 0.09 0.01 0.14 0.14 0.14 unch 0.00 0.19 0.12 0.29 0.00 0.23 + 0.01 0.50 0.21 0.17 0.12 0.13 - 0.02 0.67 0.11 0.23 0.17 0.18 unch 0.00 0.84 0.12 0.13 0.00 0.13 unch 0.00 0.30 0.12 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.09 0.00 0.09 - 0.01 0.46 0.08 0.18 0.00 0.18 + 0.01 0.53 0.17 0.09 0.09 0.09 unch 0.00 0.28 0.07 0.05 0.04 0.04 - 0.00 0.07 0.03 0.06 0.05 0.06 - 0.01 0.09 0.05 0.06 0.06 0.06 unch 0.00 0.10 0.05 0.04 0.04 0.04 unch 0.00 0.06 0.01 0.04 0.04 0.04 unch 0.00 0.12 0.02 0.08 0.08 0.08 unch 0.00 0.40 0.08 0.13 0.12 0.12 - 0.01 0.58 0.12 0.09 0.06 0.06 - 0.01 0.11 0.04 0.97 0.89 0.91 - 0.06 1.44 0.87 0.71 0.68 0.68 - 0.02 1.13 0.66 77.37 72.97 74.06 - 2.20 98.53 73.75 0.01 0.00 0.01 - 0.00 0.01 0.00 0.10 0.09 0.09 - 0.01 0.38 0.07 0.08 0.06 0.07 + 0.00 0.31 0.05 0.10 0.08 0.08 - 0.01 0.18 0.08 0.00 0.00 0.00 - 0.00 0.01 0.00 0.09 0.07 0.08 - 0.01 0.90 0.07 0.00 0.00 0.08 unch 0.00 0.13 0.00 0.08 0.08 0.08 unch 0.00 0.08 0.07 0.10 0.10 0.10 unch 0.00 0.55 0.09 0.98 0.95 0.97 + 0.03 1.48 0.81 1.30 1.23 1.28 + 0.04 1.88 1.05 0.28 0.22 0.25 - 0.03 0.50 0.22 0.01 0.01 0.01 - 0.00 0.03 0.01 0.03 0.02 0.03 + 0.01 0.04 0.01 0.95 0.85 0.88 - 0.02 1.46 0.68 0.06 0.05 0.05 - 0.01 0.11 0.05 0.08 0.07 0.08 unch 0.00 0.13 0.06

Sabina Gd&Slvr T 930 Sabina Gd&Slvr* O 299 Sable Res* O 237 Sable Res V 526 Sailfish Rylty V 22 Saint Jean* O 100 Saint Jean V 333 Salazar Res* O 13 Salazar Res V 431 Sama Res V 393 Sama Res* O 85 Samco Gold V 243 Samex Mng* O 197 San Gold Corp* O 53 San Marco Res* O 95 San Marco Res V 329 Sanatana Diam V 480 Sandfire Res V 24 Sandfire Res* O 114 Sandspring Res* O 100 Sandspring Res V 230 Sandstorm Gold T 1185 Sandstorm Gold* X 6889 Sandy Lake Gld* O 8 Sandy Lake Gld V 502 Santa Fe Gold* O 625 Santacruz Silv V 549 Sarama Res V 262 Sarissa Res* O 2468 Satori Res V 121 Saturn Mnrls V 646 Savary Gold V 164 Savary Gold* O 200 Saville Res V 248 Scandium Intl T 257 Scandium Intl* O 34 Scorpio Gold V 242 ScoZinc Mg V 10 ScoZinc Mg* O 0 Seabridge Gld T 321 Seabridge Gld* N 1297 Search Mnls V 303 Searchlight* O 76

1.38 1.29 1.33 - 0.04 2.63 1.11 1.06 0.99 1.00 - 0.06 2.17 0.85 0.21 0.17 0.18 - 0.00 0.23 0.12 0.28 0.23 0.25 + 0.01 0.35 0.13 1.10 1.03 1.10 + 0.04 3.07 1.00 0.02 0.01 0.02 - 0.00 0.05 0.01 0.03 0.03 0.03 unch 0.00 0.24 0.03 0.10 0.10 0.10 - 0.00 0.12 0.08 0.13 0.11 0.11 unch 0.00 0.18 0.10 0.29 0.25 0.29 + 0.02 0.50 0.14 0.21 0.19 0.20 - 0.01 0.41 0.13 0.04 0.03 0.03 - 0.01 0.11 0.02 0.00 0.00 0.00 + 0.00 0.00 0.00 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.14 0.12 0.14 + 0.01 0.23 0.09 0.18 0.16 0.18 + 0.01 0.30 0.12 0.04 0.03 0.03 - 0.01 0.07 0.03 0.11 0.10 0.11 + 0.01 0.12 0.06 0.08 0.00 0.08 - 0.01 0.10 0.05 0.19 0.16 0.18 - 0.02 0.39 0.14 0.25 0.21 0.21 - 0.04 0.45 0.19 5.15 4.85 5.04 - 0.02 6.95 4.62 3.91 3.67 3.84 - 0.02 5.64 3.52 0.05 0.05 0.05 unch 0.00 0.10 0.03 0.09 0.07 0.09 + 0.01 0.13 0.04 0.08 0.05 0.07 - 0.00 0.20 0.05 0.11 0.09 0.10 - 0.01 0.25 0.08 0.08 0.08 0.08 unch 0.00 0.16 0.07 0.00 0.00 0.00 + 0.00 0.01 0.00 0.06 0.05 0.06 + 0.01 0.18 0.05 0.24 0.22 0.24 - 0.01 0.25 0.09 0.05 0.04 0.04 - 0.01 0.08 0.04 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.07 0.05 0.07 + 0.02 0.16 0.05 0.20 0.18 0.19 - 0.01 0.39 0.13 0.16 0.13 0.13 - 0.03 0.32 0.11 0.02 0.02 0.02 + 0.01 0.06 0.02 0.78 0.00 0.76 - 0.02 1.75 0.73 0.00 0.00 0.65 unch 0.00 1.44 0.65 14.99 14.10 14.31 - 0.49 17.65 12.61 11.45 10.65 10.90 - 0.40 13.70 9.80 0.05 0.05 0.05 unch 0.00 0.09 0.03 0.02 0.02 0.02 + 0.00 0.06 0.01

R

S

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Searchlight V 83 Searchlight* O 5 Secova Mtls* O 10 Secova Mtls V 205 Sego Res V 667 Select Sands V 7562 T 3141 Semafo Senator Mnrls V 12 V 15 Sennen Potash O 1 Sennen Potash* Serabi Gold* O 17 Serabi Gold T 17 Serengeti Res V 101 Shamrock Ent 369 Sherritt Intl T 2223 V 296 Shoshoni Gold O 0 Sibanye Gold* 16982 N Sibanye Gold* O 20 Sidney Resrces* Sienna Res V 641 Sienna Res* O 4 Sierra Metals* X 182 Sierra Metals T 109 V 229 Sigma Lithium Signature Res V 590 O 105 Signature Res* 108 Silver Bear Rs T 82 Silver Bear Rs* O 442 Silver Bull Re T 724 Silver Bull Re* O O 341 Silver Dragon* Silver Grail V 55 Silver Hill* O 1 55 Silver Mtn Mns V Silver Phoenix 5 Silver Predatr V 10 Silver Range* O 8 Silver Range V 50 Silver Scott* O 4 Silver Spruce* O 2 Silver Spruce V 256 Silver Viper V 595 Silver Wheaton T 6138 N 13803 Silver Wheaton* T 890 Silvercorp Met X 1222 Silvercorp Met* X 249 SilverCrest Mt* SilverCrest Mt V 760 O 31 Silverstar Res* Sirios Res* O 136 Sirios Res V 346 Sitka Gold 75 Skeena Res V 1314 Skeena Res* O 188 V 630 Skyharbour Res O 231 Skyharbour Res* Slam Explor V 174 17680 Sokoman Iron V O 68 Sokoman Iron* SolGold plc T 627 SolGold plc* O 302 X 726 Solitario Ex&R* Solitario Ex&R T 261 Solstice Gold V 276 823 Sonora Gld & S V Sonoro Mtls* O 0 Sonoro Mtls V 198 South32* O 62 Southern Arc* O 8 Southern Arc V 13 N 5601 Southern Copp* O 96 Southern Silvr* Southern Silvr V 94 T 1 SouthGobi Res 492 Spanish Mtn Gd* O 501 Spanish Mtn Gd V Sparton Res V 377 Sparton Res* O 45 O 206 Spearmint Res* V 3675 Spearmint Res Spey Resources 90 Sphinx Res V 127 51 Sprott Res Hl* O 147 Sprott Res Hld T 954 Spruce Ridge R V SRG Graphite V 437 SSR Mining* D 2876 SSR Mining T 895 St Augustine T 80 4 St Elias Mns* O O 11 St-Georges Eco* St-Georges Eco 3770 O 10 Stakeholdr Gld* V 52 Stakeholdr Gld O 1092 Standard Graph* Standard Lith V 649 O 32 Standard Metal* Stans Energy V 143 Stans Energy* O 125 O 320 Star Diamond* Star Diamond T 1197 Star Gold* O 56 Starcore Intl T 121 21 Starr Peak Exp V O 0 Steele Oceanic* Stellar Africa* O 5 Stellar Africa V 309 Stelmine Can V 32 Steppe Gold T 97 Sterling Grp* O 2 T 1291 Stornoway Diam O 288 Stornoway Diam* Stratabd Mnr V 929 Strateco Res* O 25 O 76 Strategic Metl* Strategic Metl V 62 Strategic Res V 9 O 1 Strategic Res* Stria Lithium V 222 V 188 Strikepoint Gd O 20 Strikepoint Gd* V 1237 Strongbow Expl O 25 Strongbow Expl* Stroud Res V 388 Sulliden Mng T 309 Sun Metals V 588 Suncor Energy T 14140 N 13060 Suncor Energy* Sunvest Mnrls V 535 O 91 Sunvest Mnrls* O 16 Superior Gold* Superior Gold V 136 Superior Mng V 25 O 25 Superior Mng* Supreme Metals 399 0 Surge Copper * O Surge Copper V 30 Surge Explor V 31 Sutter Gold* O 160 Sutter Gold V 141 Syrah Res* O 91

0.04 0.05 0.04 0.04 - 0.01 0.29 0.01 0.03 0.00 0.03 + 0.01 0.22 0.01 unch 0.00 0.10 0.05 0.05 0.05 0.07 0.08 0.07 0.07 - 0.01 0.50 0.04 0.06 0.05 0.05 - 0.02 0.09 0.22 0.46 0.20 0.24 - 0.22 0.69 2.73 3.28 3.03 3.09 - 0.18 4.14 0.07 0.10 0.08 0.09 - 0.01 1.99 0.30 unch 0.00 0.85 0.45 0.00 0.45 0.33 unch 0.00 0.40 0.34 0.34 0.34 0.03 0.65 0.00 0.65 - 0.11 0.82 0.84 0.88 0.00 0.87 - 0.01 1.60 0.12 0.15 0.14 0.14 - 0.01 0.26 0.03 0.06 0.04 0.05 + 0.01 0.08 0.78 0.87 0.77 0.79 - 0.04 1.87 0.04 unch 0.00 0.08 0.06 0.05 0.05 0.63 unch 0.00 1.34 0.00 0.00 0.69 2.02 2.67 2.31 2.52 + 0.16 5.75 0.00 unch 0.00 0.01 0.00 0.00 0.00 0.07 0.08 0.07 0.07 - 0.01 0.39 0.05 0.07 0.05 0.06 - 0.01 0.32 2.13 2.73 2.40 2.54 - 0.12 3.00 2.68 3.46 3.10 3.38 - 0.08 3.85 0.95 2.39 2.25 2.30 + 0.01 2.40 0.05 0.10 0.08 0.09 - 0.01 0.14 0.04 0.08 0.06 0.06 - 0.01 0.11 0.20 0.18 0.18 - 0.01 0.32 0.12 0.15 0.13 0.13 - 0.01 0.26 0.09 0.14 0.13 0.13 - 0.01 0.29 0.10 0.10 0.09 0.10 + 0.00 0.23 0.08 0.00 0.01 0.01 0.01 - 0.00 0.02 0.06 0.07 0.06 0.06 + 0.01 0.13 0.10 unch 0.00 0.25 0.18 0.00 0.18 0.02 0.02 0.02 unch 0.00 0.03 0.02 0.05 unch 0.00 0.24 0.05 0.05 0.05 0.07 unch 0.00 0.20 0.12 0.12 0.12 0.09 unch 0.00 0.18 0.09 0.09 0.09 0.12 unch 0.00 0.21 0.15 0.13 0.13 0.01 unch 0.00 0.24 0.02 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.02 0.02 0.03 0.04 0.00 0.03 - 0.01 0.08 0.09 unch 0.00 0.30 0.13 0.12 0.12 20.88 - 1.35 29.93 22.98 20.52 21.01 15.83 17.61 15.61 15.93 - 1.25 22.87 2.72 3.53 3.37 3.46 - 0.07 4.16 2.12 2.72 2.55 2.60 - 0.10 3.43 0.84 2.57 2.28 2.37 - 0.08 2.76 1.05 3.29 3.07 3.08 - 0.08 3.58 0.05 0.14 0.08 0.08 - 0.04 3.36 0.12 0.14 0.14 0.14 - 0.00 0.32 0.15 0.20 0.18 0.18 - 0.01 0.41 0.11 0.12 0.11 0.11 - 0.02 0.30 0.29 0.59 0.49 0.57 + 0.03 0.80 0.23 0.46 0.37 0.37 - 0.04 0.66 0.31 0.04 0.55 0.43 - 0.49 0.42 0.24 0.36 0.32 0.33 - 0.01 0.42 0.03 0.04 0.04 0.04 - 0.01 0.07 0.03 0.22 0.15 0.18 - 0.01 0.58 0.02 0.14 0.12 0.12 - 0.02 0.45 0.32 0.48 0.35 0.48 + 0.11 0.80 0.27 0.40 0.27 0.37 + 0.10 0.55 0.33 0.45 0.33 0.36 - 0.02 0.81 0.44 0.60 0.44 0.47 - 0.02 0.96 0.15 0.20 0.18 0.19 - 0.01 0.38 0.08 0.08 0.08 - 0.01 0.20 0.07 0.09 unch 0.00 0.14 0.00 0.00 0.10 0.08 unch 0.00 0.20 0.10 0.08 0.10 2.35 2.54 0.00 2.54 - 0.05 3.10 0.29 0.29 0.29 0.29 - 0.00 0.65 0.36 0.40 0.37 0.37 - 0.02 0.90 38.34 44.06 40.39 40.44 - 3.20 58.09 0.12 0.16 0.00 0.15 + 0.00 0.35 0.15 0.21 0.00 0.19 + 0.01 0.42 0.10 unch 0.00 0.27 0.00 0.00 0.15 0.06 0.05 0.06 - 0.00 0.12 0.04 0.08 0.07 0.07 - 0.01 0.15 0.06 0.03 0.06 0.06 0.06 + 0.01 0.14 0.02 unch 0.00 0.11 0.05 0.05 0.05 0.02 0.04 0.02 0.03 + 0.00 0.11 0.02 unch 0.00 0.14 0.05 0.03 0.04 0.13 unch 0.00 0.16 0.13 0.13 0.13 0.04 0.06 0.05 0.05 - 0.01 0.08 1.23 1.07 1.09 - 0.07 1.53 1.04 1.60 1.40 1.40 - 0.19 3.40 1.45 0.04 0.03 0.03 - 0.01 0.06 0.01 0.64 1.00 0.93 0.96 - 0.03 2.25 8.79 8.11 8.32 - 0.38 11.44 7.64 11.46 10.71 10.98 - 0.38 14.62 9.66 0.02 unch 0.00 0.04 0.03 0.02 0.02 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.04 0.06 0.05 0.06 + 0.01 2.20 0.02 0.08 0.06 0.07 - 0.01 2.90 0.05 unch 0.00 0.45 0.06 0.06 0.06 0.06 0.09 0.07 0.09 + 0.02 0.64 0.18 1.01 0.90 0.93 - 0.02 1.13 0.80 1.42 1.17 1.20 - 0.20 2.85 0.02 unch 0.00 0.23 0.20 0.17 0.20 0.03 unch 0.00 0.05 0.03 0.00 0.03 0.01 0.03 0.01 0.02 - 0.00 0.04 0.12 0.18 0.15 0.17 + 0.02 0.19 0.15 0.23 0.21 0.22 - 0.01 0.25 0.05 0.07 0.05 0.07 + 0.02 0.11 0.11 0.12 0.11 0.11 - 0.02 0.40 0.11 0.11 0.11 unch 0.00 0.19 0.10 0.96 unch 0.00 1.98 0.00 0.00 0.96 0.03 unch 0.00 0.05 0.03 0.03 0.03 0.03 0.05 0.03 0.03 - 0.01 0.07 0.14 0.17 0.15 0.16 + 0.01 0.45 0.86 1.25 1.08 1.10 - 0.15 2.01 0.03 unch 0.00 0.10 0.03 0.03 0.03 0.33 0.36 0.33 0.34 - 0.01 0.80 0.25 0.27 0.25 0.25 - 0.02 0.64 0.01 unch 0.00 0.08 0.07 0.06 0.07 0.00 unch 0.00 0.01 0.01 0.01 0.01 0.27 0.30 0.27 0.28 - 0.01 0.44 0.36 0.43 0.36 0.36 - 0.01 0.53 0.10 0.27 0.00 0.16 - 0.03 0.27 0.12 0.20 0.00 0.20 + 0.06 0.20 0.03 unch 0.00 0.08 0.05 0.04 0.04 0.15 0.20 0.17 0.19 - 0.01 0.35 0.11 0.15 0.13 0.15 + 0.00 0.29 0.12 0.15 0.13 0.13 - 0.01 0.28 0.10 unch 0.00 0.22 0.10 0.10 0.10 0.01 unch 0.00 0.03 0.01 0.01 0.01 0.17 0.29 0.20 0.20 - 0.03 0.65 0.12 0.18 0.13 0.14 - 0.04 0.40 39.50 54.30 50.80 51.43 - 2.29 55.47 31.33 41.61 38.58 39.03 - 2.15 42.55 0.06 unch 0.00 0.14 0.07 0.07 0.07 0.04 0.05 0.05 0.05 - 0.00 0.18 0.69 0.81 0.78 0.78 - 0.01 1.28 0.85 1.09 1.01 1.05 - 0.03 1.62 0.04 unch 0.00 0.09 0.07 0.07 0.07 0.03 unch 0.00 0.07 0.05 0.05 0.05 0.02 0.03 0.03 0.03 - 0.01 0.08 0.00 0.00 0.09 unch 0.00 0.21 0.07 0.09 0.12 0.10 0.11 + 0.01 0.26 0.13 0.15 0.13 0.15 - 0.01 0.28 0.01 0.01 0.01 0.01 + 0.00 0.03 0.01 0.02 0.01 0.02 + 0.01 0.04 1.57 1.86 1.57 1.65 - 0.19 3.85

50227 Tahoe Res* N 12867 Tahoe Res T Taiga Gold 118 Taiga Gold* O 44 Taku Gold 4 Taku Gold* O 4 Talon Metals T 37 O 8782 Tamino Mnrls* V 125 Tanager Energy Tango Mining V 369 V 877 Tanqueray Expl Tantalex Res 246 O 1 Tanzania Mnls* Tanzania Mnls V 22 Tanzania Rlty T 56 Tanzania Rlty* X 612 Taranis Res V 184 Taranis Res* O 104 Tarku Res V 51 Tartisan Nick 404 Tasca Res V 1127 Tasca Res* O 110 Taseko Mines T 1155 X 1304 Taseko Mines* T 7953 Teck Res T 13 Res Teck Teck Res* N 10505 33 Telson Res * O Telson Res V 203 Tembo Gold V 85 Tembo Gold* O 33 Teranga Gold T 1039 O 99 Teranga Gold*

2.55 3.57 2.55 2.84 - 0.60 7.00 3.37 4.66 3.36 3.76 - 0.73 8.50 0.10 0.13 0.11 0.13 + 0.01 0.21 0.07 0.09 0.00 0.09 + 0.01 0.16 0.04 unch 0.00 0.19 0.04 0.00 0.04 0.02 0.02 0.02 0.02 - 0.00 0.14 0.05 0.10 0.08 0.10 + 0.02 0.13 0.00 0.00 0.00 0.00 - 0.00 0.00 0.05 0.09 0.05 0.09 + 0.04 0.16 0.02 0.03 0.02 0.02 - 0.01 0.06 0.33 1.02 0.97 0.97 - 0.01 1.32 0.04 0.09 0.08 0.08 - 0.01 0.25 0.12 unch 0.00 0.15 0.15 0.15 0.15 0.12 0.21 0.21 0.21 + 0.01 1.20 0.31 0.50 0.43 0.49 + 0.04 0.89 0.24 0.38 0.32 0.37 + 0.01 0.68 0.06 unch 0.00 0.14 0.11 0.06 0.11 0.03 unch 0.00 0.11 0.09 0.05 0.09 0.02 0.03 0.02 0.03 + 0.01 0.06 0.04 0.06 0.04 0.05 - 0.01 0.16 0.04 0.06 0.04 0.05 + 0.01 0.62 0.03 unch 0.00 0.38 0.03 0.03 0.03 0.90 1.03 0.95 0.96 - 0.06 2.98 0.68 0.80 0.71 0.72 - 0.06 2.46 25.60 30.08 28.29 28.91 - 0.50 39.08 25.75 30.00 28.43 28.74 - 1.25 39.00 20.06 23.08 21.52 21.92 - 0.82 30.80 0.37 0.34 0.36 + 0.03 0.74 0.33 0.43 0.48 0.44 0.47 + 0.03 1.00 0.01 0.03 0.00 0.03 + 0.01 0.05 0.01 0.02 0.01 0.02 + 0.00 0.03 2.36 4.15 3.72 3.84 - 0.08 5.63 1.83 3.12 2.85 2.93 - 0.06 4.33

T

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / SEPTEMBER 17–30, 2018

Week

12-month

Exc Volume High Low Last Change High Low

Teras Res V 513 Terraco Gold V 127 Terrax Mnrls* O 29 Terrax Mnrls V 394 Terreno Res V 100 Teslin Rvr Res V 896 Tesoro Mnrls V 0 Tethyan Res V 533 Teuton Res* O 28 Teuton Res V 162 O 101 Texas Mineral* Themac Res V 8 Thor Expl V 82 Thunder Mtn Gd V 37 Thunder Mtn Gd* O 110 Thunderstruck V 283 Thunderstruck* O 8 Till Capital V 1 Timberline Res V 156 O 103 Timberline Res* Timmins Gold T 1022 Timmins Gold* X 1978 Tinka Res V 441 Tinka Res* O 158 Titan Mining T 254 Titan Mining* O 22 Titanium Corp V 31 O 251 TMAC Resource* 373 TMAC Resources T TNR Gold V 77 Toachi Mg Inc V 130 Tolima Gold V 1998 TomaGold V 439 Tombstone Expl* O 3780 O 58 Tonogold Res* Torex Gold* O 75 Torex Gold T 1298 Torq Resources* O 43 V 189 Torq Resources Tower Res* O 13 Tower Res V 89 Transatlan Mng V 60 Transition Mtl V 47 Treasury Metal T 151 O 29 Treasury Metal* Trecora Res* N 102 Tres-Or Res V 183 Trevali Mng* O 61 Trevali Mng T 7851 Tri Origin Exp V 1668 Trident Gold V 8 Trifecta Gold* O 3 Trifecta Gold V 15 Trigen Res* O 183 Trilogy Mtls* X 486 Trilogy Mtls T 24 TriMetals Mng* O 11 O 13 TriMetals Mng* TriMetals Mng T 132 Trinity Res* O 8 Trinity Valley V 130 Trio Resources* O 254 TriStar Gold* O 50 TriStar Gold V 118 Triumph Gold V 1647

0.08 0.06 0.06 - 0.01 0.14 0.06 0.09 0.07 0.09 + 0.01 0.12 0.07 0.31 0.28 0.29 + 0.01 0.51 0.25 0.42 0.37 0.38 - 0.01 0.62 0.33 0.05 0.04 0.05 + 0.01 0.18 0.04 0.48 0.42 0.45 + 0.02 0.68 0.33 0.00 0.00 0.06 unch 0.00 0.12 0.05 0.34 0.19 0.20 - 0.05 0.57 0.17 0.13 0.13 0.13 - 0.02 0.25 0.12 0.22 0.16 0.18 - 0.01 0.31 0.15 0.20 0.19 0.19 - 0.01 0.35 0.10 0.06 0.06 0.06 unch 0.00 0.10 0.03 0.18 0.14 0.18 - 0.01 0.23 0.09 0.15 0.15 0.15 unch 0.00 0.30 0.14 0.12 0.09 0.12 - 0.00 0.29 0.08 0.06 0.05 0.06 unch 0.00 0.12 0.05 0.05 0.04 0.05 + 0.00 0.15 0.04 2.09 0.00 2.09 + 0.09 5.60 1.90 0.16 0.12 0.12 - 0.03 0.50 0.08 0.11 0.09 0.10 - 0.01 0.43 0.06 0.91 0.81 0.85 - 0.04 6.05 0.82 0.71 0.63 0.65 - 0.04 4.94 0.63 0.42 0.39 0.40 + 0.01 0.87 0.38 0.32 0.29 0.31 + 0.01 0.75 0.29 1.36 1.23 1.29 - 0.07 1.65 0.92 0.97 0.97 0.97 - 0.00 1.04 0.97 0.78 0.72 0.73 - 0.03 1.50 0.70 3.80 3.50 3.61 + 0.06 9.24 3.50 5.10 4.62 4.68 - 0.03 11.50 4.61 0.05 0.04 0.04 - 0.01 0.09 0.03 0.12 0.11 0.11 - 0.01 0.41 0.10 0.01 0.01 0.01 unch 0.00 0.06 0.01 0.06 0.05 0.05 - 0.01 0.10 0.05 0.00 0.00 0.00 + 0.00 0.01 0.00 0.12 0.08 0.12 + 0.00 0.40 0.05 7.03 6.33 7.03 + 0.30 18.11 5.73 9.27 8.36 9.25 + 0.44 22.01 7.29 0.31 0.28 0.30 + 0.00 1.10 0.28 0.40 0.38 0.40 + 0.03 0.75 0.38 0.04 0.04 0.04 unch 0.00 0.13 0.04 0.07 0.06 0.06 - 0.01 0.19 0.06 0.03 0.03 0.03 unch 0.00 0.10 0.03 0.12 0.11 0.12 + 0.01 0.20 0.11 0.37 0.35 0.35 - 0.02 0.76 0.33 0.29 0.00 0.27 - 0.00 0.65 0.24 14.00 13.50 13.85 - 0.15 15.60 10.25 0.03 0.03 0.03 unch 0.00 0.07 0.03 0.58 0.55 0.55 - 0.03 1.37 0.45 0.78 0.70 0.71 - 0.07 1.75 0.59 0.03 0.02 0.02 - 0.01 0.05 0.02 0.14 0.14 0.14 unch 0.00 0.22 0.14 0.05 0.04 0.04 - 0.00 0.19 0.04 0.09 0.07 0.07 unch 0.00 0.22 0.07 0.31 0.27 0.27 - 0.00 1.01 0.22 1.87 1.74 1.82 + 0.01 2.02 0.69 2.47 2.30 2.35 unch 0.00 2.62 0.90 0.06 0.05 0.05 + 0.00 0.18 0.04 0.18 0.16 0.16 - 0.01 0.21 0.11 0.09 0.08 0.09 + 0.01 0.23 0.06 0.07 0.00 0.01 unch 0.00 0.10 0.01 0.06 0.05 0.05 - 0.01 0.16 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.14 0.00 0.14 - 0.00 0.28 0.13 0.20 0.18 0.18 - 0.02 0.34 0.16 0.80 0.67 0.72 + 0.03 0.80 0.26

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Triumph Gold* O 265 Troilus Gold V 20 Troilus Gold* O 0 Troubadour Res V 0 Troy Enrgy V 6 Troy Res* O 160 Troymet Expl V 187 True Grit Res V 326 True North Gem V 462 V 626 Trueclaim Expl Tsodilo Res V 6 Tudor Gold * O 19 Tudor Gold V 217 Turquoise HIl T 4147 18576 Turquoise HIl* N TVI Pacific* O 30 TVI Pacific V 2234 Tyhee Gold* O 17 Typhoon Expl V 372

0.60 0.51 0.54 + 0.01 0.60 0.20 1.10 0.00 1.05 - 0.04 2.25 0.95 0.93 0.00 0.93 unch 0.00 1.59 0.93 0.00 0.00 0.15 unch 0.00 0.16 0.12 0.04 0.04 0.04 unch 0.00 0.12 0.04 0.08 0.07 0.07 - 0.01 0.13 0.06 0.01 0.01 0.01 + 0.01 0.02 0.01 0.04 0.03 0.03 - 0.01 0.07 0.03 0.01 0.00 0.01 unch 0.00 0.02 0.01 0.15 0.09 0.10 - 0.06 0.30 0.07 0.42 0.00 0.41 - 0.01 0.77 0.40 0.20 0.19 0.20 + 0.00 0.71 0.19 0.28 0.24 0.24 - 0.03 0.88 0.25 3.12 2.84 2.86 - 0.17 4.52 2.87 2.37 2.16 2.17 - 0.16 3.59 2.18 0.01 0.01 0.01 unch 0.00 0.02 0.00 0.02 0.01 0.01 - 0.01 0.02 0.01 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.04 0.04 0.04 unch 0.00 0.10 0.04

U.S. Lithium* O 2252 U3O8 Corp* O 14 U3O8 Corp T 30 171 Ucore Rare Mtl V Ucore Rare Mtl* O 432 UEX Corp T 3024 Ultra Lithium* O 12 Ultra Lithium V 50 O 28 Umbral Enrgy* Unigold* O 13 Unigold V 91 United Battery* O 20 United Battery 14 75 United Res Hdg* O United Silver* O 290 397 United States A* X United States S* N 30110 Unity Energy V 2713 Universal Vent V 290 V 13 Upper Canyon Ur-Energy* X 3958 Ur-Energy T 293 Uracan Res V 1126 Uracan Res* O 206 Uragold Bay Rs V 631 X 3013 Uranium Energy* Uranium Hunter* O 0 Uranium Res* D 3941 Uravan Mnrls V 146 US Energy* D 207 US Precious M* O 561 USCorp* O 6 Vale* N 82430 783 Valley High Mg* O ValOre Metals* O 6 ValOre Metals V 42 Valoro Res V 47 Valterra Res* O 86 Valterra Res V 329 V 444 Vanadium One Vanadiumcorp* O 215 Vangold Res* O 7 Vangold Res V 983

0.02 0.02 0.02 + 0.00 0.05 0.01 0.24 0.22 0.23 + 0.01 0.49 0.18 0.31 0.28 0.30 + 0.01 0.60 0.21 0.21 0.19 0.20 - 0.01 0.31 0.17 0.16 0.15 0.15 - 0.01 0.26 0.13 0.23 0.19 0.20 - 0.03 0.41 0.15 0.16 0.13 0.16 - 0.00 0.63 0.12 0.21 0.18 0.18 - 0.03 0.80 0.15 0.23 0.19 0.20 - 0.03 0.64 0.10 0.11 0.11 0.11 unch 0.00 0.21 0.11 0.19 0.17 0.17 unch 0.00 0.29 0.15 0.68 0.68 0.68 unch 0.00 0.69 0.65 0.90 0.88 0.88 unch 0.00 0.99 0.40 0.04 0.03 0.04 unch 0.00 0.07 0.00 0.01 0.00 0.00 unch 0.00 0.01 0.00 0.63 0.54 0.58 - 0.02 0.79 0.20 30.30 28.60 29.06 - 0.62 47.64 23.16 0.12 0.10 0.12 + 0.01 0.23 0.10 0.56 0.53 0.55 - 0.01 0.63 0.31 0.28 0.27 0.27 - 0.01 0.40 0.10 0.85 0.76 0.76 - 0.08 0.91 0.50 1.10 1.00 1.05 - 0.02 1.13 0.62 0.03 0.03 0.03 + 0.01 0.04 0.02 0.02 0.01 0.02 + 0.01 0.09 0.01 0.09 0.08 0.09 unch 0.00 0.14 0.08 1.73 1.61 1.64 - 0.07 2.00 0.96 0.00 0.00 1.00 unch 0.00 2.09 0.26 0.24 0.18 0.20 - 0.02 1.57 0.18 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.98 0.88 0.91 - 0.02 1.96 0.71 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.01 0.01 0.01 unch 0.00 0.02 0.00 13.29 12.43 13.01 - 0.19 15.24 9.53 0.01 0.00 0.01 - 0.00 0.04 0.00 0.42 0.40 0.42 + 0.01 0.48 0.40 0.57 0.52 0.57 + 0.03 1.25 0.52 0.12 0.12 0.12 - 0.01 0.80 0.12 0.02 0.02 0.02 - 0.00 0.05 0.01 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.07 0.06 0.06 unch 0.00 0.13 0.04 0.11 0.10 0.11 + 0.01 0.15 0.01 0.05 0.04 0.04 - 0.01 0.20 0.03 0.05 0.05 0.05 unch 0.00 0.25 0.05

U-V

(100s) Stock

Week

12-month

(100s)

Exc Volume High Low Last Change High Low

389 Vanstar Mng Rs* O 338 Vanstar Mng Rs V Vantex Res* O 18 Vantex Res V 2 Vatic Vent V 132 Vatic Vent* O 29 N 1893 Vedanta* Velocity Mnrls V 57 Vendetta Mng V 1666 O 669 Vendetta Mng* V 27 Venerable Vent O 75 Venture Mnrls* Verde Potash T 186 Verde Res* O 256 Veris Gold* O 25 Vertical Expl* O 17 Vertical Expl V 280 Victoria Gold V 965 Victory Nickel 58 O 1 Victory Nickel* Victory Res V 62 Victory Res* O 1 O 136 Virginia Enrgy* Virginia Enrgy V 127 Viscount Mng V 207 111 Visible Gold M V 131 Visible Gold M* O Vision Lithium V 76 O 21 Vision Lithium* Vista Gold* X 457 Vista Gold T 31 Viva Gold* O 31 Viva Gold V 88 Volcanic Gold V 56 Volt Energy V 0 Voltaic Min V 120 Voyageur Min V 33 O 28 VR Resources* VR Resources V 152 Vulcan Mnrls V 116 VVC Expl V 292

0.09 0.08 0.09 + 0.01 0.09 0.08 0.12 0.11 0.12 + 0.01 0.12 0.06 0.04 unch 0.00 0.24 0.15 0.15 0.15 0.23 unch 0.00 0.58 0.23 0.23 0.23 0.10 0.13 0.10 0.10 - 0.02 0.32 0.05 0.10 0.07 0.07 - 0.02 0.64 11.58 12.85 12.27 12.68 - 0.10 21.99 0.13 0.17 0.15 0.16 + 0.01 0.40 0.16 0.19 0.18 0.18 - 0.01 0.29 0.13 0.15 0.13 0.14 - 0.01 0.24 0.09 0.13 0.11 0.11 - 0.02 0.14 0.02 unch 0.00 0.04 0.02 0.02 0.02 0.39 0.92 0.76 0.77 - 0.08 1.26 0.00 unch 0.00 0.12 0.01 0.01 0.01 0.00 unch 0.00 0.02 0.00 0.00 0.00 0.04 0.09 0.07 0.07 - 0.02 0.15 0.05 0.10 0.09 0.09 - 0.01 0.40 0.30 0.35 0.32 0.33 - 0.01 0.53 0.03 0.01 0.07 0.04 - 0.05 0.00 0.02 unch 0.00 0.05 0.03 0.00 0.03 0.13 0.19 0.13 0.19 + 0.04 0.65 0.11 unch 0.00 0.19 0.11 0.11 0.11 0.07 0.15 0.12 0.15 - 0.01 0.25 0.09 unch 0.00 0.33 0.19 0.17 0.19 0.22 0.25 0.22 0.25 + 0.03 0.40 0.08 0.06 0.08 + 0.02 0.18 0.06 0.05 0.04 0.04 unch 0.00 0.14 0.04 0.18 0.27 0.23 0.26 + 0.01 0.79 0.16 0.20 0.18 0.18 - 0.02 0.62 0.47 0.53 0.49 0.49 - 0.02 0.87 0.63 0.02 1.12 0.67 - 0.69 0.66 0.24 0.35 0.31 0.31 - 0.04 0.40 0.21 0.44 0.36 0.44 + 0.04 0.69 0.08 unch 0.00 0.45 0.10 0.09 0.10 0.09 unch 0.00 0.96 0.00 0.00 0.09 0.17 unch 0.00 0.90 0.21 0.00 0.20 0.04 unch 0.00 0.15 0.08 0.06 0.06 0.14 0.15 0.14 0.15 + 0.00 0.35 0.17 0.19 0.17 0.19 + 0.02 0.43 0.04 0.06 0.06 0.06 - 0.01 0.07 0.03 0.04 0.03 0.03 + 0.01 0.07

Walker Lane* O 22 Walker River V 98 T 6142 Wallbridge Mng 358 War Eagle Mg V Waseco Res V 425 Wealth Mnrls V 578 Wealth Mnrls* O 429 V 7 Wescan Gldflds O 123 Wesdome Gold* T 1146 Wesdome Gold West Af Res V 1508 180 West High Yld V West Kirkland V 679 34 West Kirkland * O 134 West Red Lake* O 240 West Red Lake O 22 Western Areas* Western Atlas V 50 T 116 Western Copper X 264 Western Copper* 166 Western Pac Rs V

0.05 0.35 0.00 0.25 - 0.10 0.40 0.05 0.05 0.05 0.05 + 0.01 0.15 0.06 0.14 0.10 0.14 + 0.03 0.15 0.11 0.09 0.09 - 0.02 0.22 0.04 0.03 unch 0.00 0.08 0.04 0.03 0.04 0.54 0.83 0.69 0.82 + 0.03 2.34 0.41 0.64 0.54 0.63 + 0.02 1.85 0.01 0.06 0.00 0.06 + 0.01 0.12 1.28 2.56 2.00 2.52 + 0.01 3.79 1.64 3.39 3.17 3.33 + 0.05 3.83 0.28 0.50 0.02 - 0.29 0.31 0.29 0.40 0.36 0.40 + 0.04 3.80 0.24 0.05 unch 0.00 0.09 0.06 0.05 0.05 0.05 0.04 0.04 - 0.00 0.07 0.04 0.06 0.04 0.05 - 0.01 0.20 0.04 0.08 0.05 0.07 - 0.01 0.16 0.05 1.64 2.00 1.64 1.65 - 0.35 2.82 0.08 unch 0.00 0.32 0.09 0.09 0.09 0.84 0.89 0.84 0.86 - 0.01 1.73 0.62 0.69 0.62 0.66 - 0.02 1.43 0.03 0.02 0.03 + 0.01 0.03 0.01

W-Z

Stock

Week

23

12-month

Exc Volume High Low Last Change High Low

Western Pac Rs* O 62 Western Potash T 45 Western Res* O 4 Western Uran 231 Western Uran* O 436 Westhaven Vent* O 85 Westhaven Vent V 249 Westkam Gold* O 176 Westkam Gold V 121 Westminster Rs V 30 O 281 Westmoreland* WestMountain* O 0 Whistler Gold V 2 White Gold V 724 White Gold* O 55 White Metal R* O 162 White Metal Rs V 887 60 White Mtn Engy* O Whitehaven Coa* O 1 Whitemud Res V 249 Wildsky Res* O 16 Wildsky Res V 66 O 122 Winston Gold* Winston Gold 308 Winston Res 127 Winston Res* O 0 Wolfden Res* O 122 Wolfden Res V 206 Wolfeye Res V 350 Wolverine Mnls V 33 V 80 Worldwide Res WPC Res V 1504 X-Terra Res V 256 Xander Res V 120 Xiana Mng V 12 Ximen Mng V 325 Ximen Mng* O 1 Xmet Inc* O 100 V 51 Xtierra Xtra-Gold Res T 25 O 43 Xtra-Gold Res* Yamana Gold T 10735 N 60624 Yamana Gold* Yanzhou Coal* O 1 V 3 Yellowhead Mng Yorbeau Res T 84 Yorbeau Res* O 525 You Han Data* O 0 200 Zadar Vent * O Zadar Vent V 1270 Zanzibar Gold 67 Zara Res* O 0 Zara Res 36 Zenyatta Vent* O 8 Zenyatta Vent V 69 Zeox Corp* O 84 Zephyr Mnls V 21 Zephyr Mnls* O 43 Zimtu Capital V 53 Zinc One Res V 430 80 Zinc One Res * O Zincore Mtls V 71 ZincX Res V 570 ZincX Res* O 61 Zonte Mtls V 175

0.01 0.01 0.01 + 0.00 0.03 0.01 0.34 0.33 0.34 + 0.01 0.58 0.33 0.26 0.25 0.25 - 0.00 0.37 0.25 1.84 1.49 1.71 + 0.09 1.84 0.54 1.43 1.14 1.29 + 0.04 1.43 0.44 0.14 0.13 0.13 unch 0.00 0.18 0.06 0.18 0.15 0.18 + 0.02 0.24 0.08 0.01 0.01 0.01 - 0.00 0.04 0.01 0.02 0.00 0.01 - 0.01 0.05 0.01 0.10 0.10 0.10 unch 0.00 0.25 0.07 0.15 0.12 0.14 + 0.00 3.13 0.07 0.00 0.00 3.30 unch 0.00 11.00 1.15 0.00 0.00 0.08 unch 0.00 0.08 0.04 0.78 0.62 0.69 - 0.09 1.60 0.61 0.55 0.50 0.53 - 0.02 0.73 0.49 0.13 0.11 0.12 - 0.01 0.19 0.05 0.16 0.13 0.13 - 0.02 0.25 0.03 0.00 0.00 0.00 unch 0.00 0.00 0.00 3.62 3.62 3.62 unch 0.00 4.37 2.71 0.01 0.01 0.01 unch 0.00 0.05 0.01 0.22 0.09 0.09 - 0.13 0.77 0.09 0.25 0.11 0.11 - 0.10 1.01 0.12 0.05 0.03 0.04 + 0.01 0.09 0.02 0.06 0.04 0.06 + 0.02 0.09 0.03 0.07 0.07 0.07 unch 0.00 0.24 0.07 0.00 0.00 0.55 unch 0.00 0.20 0.17 0.19 - 0.02 0.56 0.17 0.26 0.23 0.24 - 0.02 0.68 0.23 0.85 0.76 0.84 + 0.06 1.64 0.73 0.10 0.09 0.09 - 0.01 0.17 0.07 0.03 0.03 0.03 unch 0.00 0.09 0.01 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.15 0.12 0.14 + 0.02 0.33 0.11 0.11 0.00 0.09 unch 0.00 0.30 0.09 0.56 0.48 0.56 + 0.08 0.70 0.08 0.16 0.16 0.16 unch 0.00 0.25 0.13 0.13 0.13 0.13 unch 0.00 0.44 0.10 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.06 0.00 0.05 - 0.01 0.08 0.02 0.26 0.23 0.25 + 0.02 0.30 0.18 0.19 0.17 0.17 - 0.02 0.23 0.11 3.65 3.17 3.20 - 0.42 4.69 3.09 2.80 2.40 2.44 - 0.34 3.80 2.40 1.22 1.22 1.22 unch 0.00 1.83 0.96 0.11 0.00 0.11 - 0.01 0.70 0.10 0.04 0.04 0.04 unch 0.00 0.10 0.03 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.00 0.00 2.80 unch 0.00 2.80 1.00 0.04 0.04 0.04 unch 0.00 0.08 0.02 0.06 0.04 0.05 + 0.01 0.13 0.03 0.11 0.10 0.10 unch 0.00 0.15 0.10 0.00 0.00 0.08 unch 0.00 0.17 0.08 0.20 0.20 0.20 unch 0.00 0.24 0.08 0.40 0.35 0.35 - 0.03 0.77 0.34 0.52 0.00 0.47 - 0.03 0.99 0.42 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.25 0.23 0.23 - 0.01 0.34 0.20 0.18 0.00 0.17 - 0.02 0.28 0.16 0.25 0.24 0.24 - 0.01 0.40 0.21 0.16 0.14 0.15 + 0.01 0.55 0.14 0.12 0.10 0.12 + 0.02 0.45 0.10 0.07 0.06 0.06 - 0.01 0.35 0.03 0.45 0.38 0.38 - 0.07 0.75 0.24 0.35 0.30 0.30 - 0.01 0.56 0.19 0.30 0.27 0.28 - 0.02 0.38 0.12

BID-ASK — SEPTEMBER 3–7, 2018

STOCK

37 Capital 55 North AEX Gold African Metals Aguila Amer Gd Alba Minerals Alderon Iron* Alexandra Cap ALQ Gold Altitude Res Amador Gold Amanta Res Anglo Pac Grp Anglo-Bomarc Angus Ventures Antler Hill Arch Coal* Arcturus Vent Arian Res Arrowstar Res Ashanti Sanko Atlantic Ind Atlatsa Res* Aurcana Corp AurCrest Gold Aurelius Min Awale Res AXE Expl Banro Corp* BC Moly Bearclaw Cap Bell Copper Belvedere Res Bethpage Cap BHK Mining Bird River Res Black Bull Res Black Dragon Black Isle Res Black Mam Mtls Boss Power Brunswick Res Bullion Gld Res Bullman Mnls BWR Explor Cairo Res Canada Coal Canex Energy CaNickel Mng Canoe Mng Vent Caracara Silvr Carlin Gold Cdn Platinum Cdn Silvr Hunt Chantrell Vent Chilean Metals Chinapintza Mg Cicada Vents CIM Intl Grp Clarmin Explor Cleghorn Mnls Cliffs Nat Res* Clydesdale Res Comet Inds Condor Gold Cresval Cap Cyntar Venture Cyprium Mng Damara Gold Dawson Gold Diamond Fields Discovery Met Discovery-Corp EastCoal Inc Eastern Zinc Edgewater Expl Electra Stone Endurance Gold Eureka Res European Metal Evolving Gold Excalibur Res Fengro Industr Fieldex Expl Finore Mng Fire River Gol Firebird Res First Idaho

12-MONTH

EXC BID ASK LAST HIGH

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

0.25 ...

0.30 0.35 0.02 0.02 0.02 0.35 0.40 0.38 0.71 0.06 0.09 0.06 0.20 0.22 0.18 0.30 0.15 0.16 0.16 0.28 ... 0.40 0.14 0.52 0.02 0.63 0.50 0.93 1.10 1.20 0.22 0.04 0.04 0.05 0.09 0.17 0.19 0.19 0.25 0.01 0.02 0.01 2.00 3.58 2.15 3.36 0.08 0.08 0.15 0.16 0.41 0.50 0.42 0.50 0.08 0.12 0.10 0.33 ... ...

0.58 0.11 0.17 0.10 0.20 0.01 0.02 0.01 0.10 0.24 0.12 0.12 0.04 0.05 0.05 0.10 0.02 0.02 0.02 0.09 ... ...

0.06 0.45 0.15 0.15 0.23 0.30 0.03 0.04 0.03 0.04 0.13 0.14 0.14 0.15 0.10 0.12 0.13 0.48 0.05 0.05 0.06 0.17 0.11 0.11 0.11 2.10 0.06 0.12 0.06 0.16 0.04 0.05 0.04 0.06 0.17 0.20 0.20 0.22 0.01 0.82 0.82 0.96 0.06 ...

0.07 0.14 0.02 0.02 0.02 0.16 0.16 0.23 0.63 0.10 0.18 0.10 0.10 0.17 0.18 0.19 0.39 0.04 0.05 0.04 0.06 0.11 0.14 0.11 0.25 0.17 0.20 0.17 0.03 0.04 0.03 0.05 0.43 0.43 0.40 0.47 0.10 0.12 0.09 0.10 0.04 0.04 0.04 0.10 0.36 0.50 0.33 0.43 0.08 0.08 0.09 0.12 0.13 0.19 0.15 0.40 0.10 0.13 0.10 0.24 0.05 0.05 0.14 0.25 0.10 0.15 0.11 0.30 0.03 0.03 0.03 0.09 0.02 0.02 0.03 0.05 0.02 0.06 0.06 0.11 0.07 0.10 0.11 0.12 0.08 0.11 0.09 0.40 0.01 0.02 0.01 0.01 0.01 0.01 0.01 0.03 0.25 0.77 0.21 0.50 0.11 0.17 0.11 0.50 0.09 0.10 0.10 0.14 1.45 3.20 1.43 7.17 0.03 0.11 0.02 0.15 2.75 3.55 3.60 3.60 0.58 0.72 0.72 1.75 0.07 0.20 0.05 0.06 0.10 0.15 0.15 0.15 0.03 0.03 0.03 0.05 0.05 0.05 0.22 0.01 0.30 0.30 0.08 0.09 0.08 0.15 0.31 0.39 0.31 0.88 0.01 0.02 0.01 0.04 0.12 0.15 0.13 0.30 0.26 0.55 0.24 0.16 0.17 0.16 0.21 0.01 0.02 0.01 0.04 0.06 0.07 0.06 0.09 0.03 0.03 0.03 0.06 ... 0.01 0.01 0.08 0.09 0.08 0.41 0.09 0.10 0.10 0.11 0.10 0.11 0.10 0.31 0.18 0.18 0.19 0.12 0.12 0.11 0.03 0.07 0.09 0.03 0.04 0.03 0.09 0.09 0.25 0.04 0.06

LOW

STOCK

0.12

C Four Nines Freeport Res V Full Metal Mnl V V Gem Intl Res Generic Gold C Getchell Gold C Getty Copper V V GFM Res Global Cobalt V Global Cop Grp V GobiMin V God’s Lake Res C Goldbank Mng V V Goldbelt Emp Golden Secret V GoldTrain Res C Granite Ck Gld V Greatbanks Res V Green Arrow V Greenshield Ex V Grenville Gold V Grosvenor Res V Harfang Explor V V HFX Holding Highbank Res V Highbury Proj V Highvista Gold V Hinterland Mtl V Homeland Egy V Icon Explor V IGC Res V Infinite Lith V Inform Res V Interconnect V Intl Battery C Intl Millm Mng V Iron South Mng V Jaeger Res V Jasper Mng V Jayden Res V Jazz Res V JDF Explor Inc C Jiminex V Jubilee Gold V V Kenna Res Kermode Res V V Knick Expl Le Mare Gold V Lead Ventures C Legion Metals C Leo Res C Libero Copper V Lithion Energy V Logan Res V V Lovitt Res Madeira Mrnls V X MAG Silver* Manado Gold V Martina Mnls V Mas Gold V Matachewan Con V Match Capital V MAX Res V McChip Res V Mesa Expl V Metalo Manuf C Metalore Res V Metron Capital V Micrex Dev V Midasco Cap V Midnight Star C MillenMin Vent V Millstream Min V Minecorp Egy V Minera IRL C Mineral Hill V Minsud Res V Moag Copper C Montana Gold C Mountain Lake C Murchison Min V MX Gold V Napier Vent V Navis Res Corp C Navy Res V Nebu Res V New Jersey Mng C New Klondike V

0.36 0.17 0.04 0.12 0.09 0.03 0.13 1.31 0.05 0.33 0.02 0.07 0.03 0.02 0.01 0.06 0.17 0.02 0.03 0.08 0.02 0.10 0.04 0.03 0.03 0.15 0.07 0.07 0.10 0.14 0.03 0.06 0.02 0.20 0.06 0.03 0.30 0.04 0.14 0.09 0.09 0.05 0.03 0.02 0.04 0.05 0.08 0.01 0.01 0.08 0.10 0.05 0.98 0.02 2.95 0.47 0.04 0.15 0.04 0.08 0.27 0.01 0.07 0.12 0.01 0.05 0.02 0.07 0.01 0.10

0.01 0.02

12-MONTH

EXC BID ASK LAST HIGH LOW

0.05 0.09 0.06 0.16 0.06 0.07 0.07 0.08 0.01 0.12 0.10 0.15 0.01 0.02 0.02 0.03 0.15 0.30 0.15 0.32 ... ...

0.09 0.09 0.02 0.03 0.02 0.04 0.06 0.12 0.15 0.15 0.02 0.02 0.02 0.07 0.08 0.08 0.11 0.33 0.39 0.34 0.55 0.95 ...

0.90 1.10 0.14 0.24 0.14 0.34 0.02 0.02 0.02 0.03 0.32 0.37 0.27 0.50 ... 0.01 0.08 0.08 0.11 0.14 0.10 0.17 0.03 0.05 0.03 0.03 0.03 0.03 0.19 0.12 0.21 0.12 0.15 0.09 0.23 0.09 0.17 0.11 0.50 0.20 0.20 0.22 0.24 0.20 0.35 0.06 ...

0.06 0.12 0.02 0.03 0.03 0.06 0.22 0.40 0.30 0.35 ... 0.15 0.17 0.02 0.03 0.02 0.05 0.18 0.21 0.18 0.38 ... 0.41 0.41 0.84 0.15 0.19 0.15 0.25 0.26 0.29 0.28 0.32 0.10 0.19 0.10 0.39 0.05 0.09 0.04 0.11 ... ...

0.31 0.02 0.03 0.03 0.04 0.24 0.27 0.24 0.28 0.03 0.15 0.03 0.07 0.08 0.10 0.08 0.18 0.13 0.13 0.11 0.38 0.05 0.08 0.08 0.09 0.01 ...

0.05 0.15 0.10 0.10 0.05 0.28 0.46 0.60 0.64 0.70 0.13 0.16 0.15 0.01 0.02 0.01 0.03 0.01 0.02 0.01 0.05 0.07 0.07 0.17 1.50 0.22 0.47 0.25 0.60 0.10 ...

0.17 0.21 ... ...

1.09 0.10 0.12 0.12 0.15 ... ...

0.10 0.03 0.10 0.06 0.08 0.08 0.13 0.10 0.25 0.03 0.50 0.03 0.05 12.52 13.30 12.52 14.40 0.05 0.06 0.05 0.24 0.05 0.08 0.04 0.07 0.06 0.07 0.06 0.15 0.15 0.20 0.18 0.33 0.01 ...

0.04 0.16 0.22 0.20 0.32 0.69 0.74 0.68 0.87 0.06 0.06 0.06 0.08 0.17 0.39 0.35 0.57 2.25 2.85 1.80 4.45 0.06 0.20 0.06 0.08 0.02 0.02 0.01 0.03 0.10 0.28 0.10 0.15 ... ...

0.20 0.25 0.01 0.05 0.05 0.04 0.06 0.04 ... ...

0.12 0.20 0.07 0.08 0.07 0.14 0.14 0.19 0.17 0.32 0.08 0.09 0.07 0.21 ... ...

0.08 0.09 0.10 0.10 0.10 ... ...

0.05 0.09 0.09 0.11 0.09 0.25 0.11 0.11 0.11 0.22 0.32 0.35 0.35 0.54 0.36 0.51 0.37 1.20 0.17 0.30 0.20 0.32 0.02 0.03 0.04 ...

0.33 0.23 0.26 0.01 0.01 0.01

0.06 0.03 0.08 0.01 0.15 0.07 0.02 0.05 0.04 0.30 0.07 0.13 0.01 0.22 0.08 0.08 0.02 0.06 0.08 0.15 0.20 0.04 0.02 0.22 0.02 0.18 0.03 0.05 0.12 0.09 0.04 0.01 0.04 0.02 0.06 0.08 0.06 0.01 0.05 0.35 0.01 0.01 0.17 0.06 0.05 0.07 0.04 0.02 0.02 6.12 0.04 0.03 0.06 0.15 0.06 0.37 0.03 0.15 1.77 0.05 0.01 0.07 0.09 0.07 0.06 0.13 0.06 0.02 0.03 0.09 0.08 0.26 0.23 0.17 0.23

STOCK

New Point Expl New Stratus Newmac Res Norsemont Cap North Am Ptash Odyssey Res Opawica Expl Opus One Res Orford Mining Oriental Non F Orofino Mnrls Pac Arc Res Pac Cascade Pac Iron Ore Pac Link Mng Patriot Gold Pedro Res Pele Mtn Res Peruvian Metal Phoenix Gold Pinecrest Res Plate Res Prime Meridian Quadro Res Quantum Cobalt Rackla Mtls Rare Element* Razore Rock Res Red Oak Mg Red Tiger Mng Reliant Gold Remington Res Rhyolite Res Riley Resource Rockland Mnls Rojo Res Rokmaster Res RosCan Mrnls Ross River Rotation Mnls RTG Mining Rubicon Mnrls* Sage Gold Scavo Res Shoshoni Gold Silver Mtn Mns Silver Phoenix Silver Predatr Silver Viper Sojourn Explor SouthGobi Res Starr Peak Exp Superior Mng Surge Explor Tajiri Res Talmora Diamd Taranis Res Tearlach Res Theia Res Themac Res Tiger Intl Tintina Mines Transatlan Mng Tri-River Vent Trident Gold Troy Enrgy UC Res Vale* Valencia Vent ValOre Metals Vanadium One Vanadiumcorp Vantex Res Vela Minerals Volt Energy Waseco Res Westcot Vent Western Atlas Western Troy C Westminster Rs Westridge Res Whistler Gold Worldwide Res Ximen Mng Zanzibar Gold Zena Mng Zinco Mng

12-MONTH

EXC BID ASK LAST HIGH LOW

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

0.06 0.06 0.06 0.41 0.26 ...

0.40 0.46 0.08 0.11 0.08 0.09 0.34 0.39 0.34 0.47 0.05 0.08 0.04 0.04 0.06 0.04 0.07 0.06 0.07 0.06 0.33 0.04 0.06 0.07 0.12 0.18 0.24 0.18 0.70 0.01 1.05 1.05 1.05 ... 0.25 0.14 0.19 0.52 0.52 0.70 0.82 0.01 0.02 0.01 0.08 0.11 0.08 0.23 0.03 0.50 0.20 0.20 0.06 0.15 0.10 0.13 ... 0.31 0.21 0.42 0.04 0.04 0.04 0.15 0.05 0.07 0.06 0.10 ... 0.01 0.01 0.22 0.24 0.22 0.38 0.07 0.08 0.07 0.10 0.01 0.50 0.14 0.05 0.08 0.05 0.16 ... ...

1.10 3.15 0.12 0.19 0.12 0.17 0.11 0.16 0.15 0.89 0.06 0.21 0.11 0.63 0.22 0.34 0.33 0.34 0.02 0.03 0.03 0.02 0.02 0.02 0.04 0.23 0.33 0.25 1.00 0.15 0.29 0.15 0.40 0.15 0.34 0.15 0.15 0.07 0.08 0.08 0.11 ... 0.40 0.40 0.40 0.08 0.09 0.09 0.28 0.06 0.07 0.06 0.10 0.17 0.17 0.26 0.50 0.08 0.09 0.08 0.40 0.10 0.12 0.10 0.55 ... ...

0.03 1.35 0.01 0.01 0.02 0.25 0.36 0.57 0.36 0.54 0.05 0.07 0.05 0.08 0.02 0.02 0.02 0.03 0.05 0.10 0.05 0.24 0.08 0.12 0.12 0.20 0.11 0.15 0.12 0.30 0.11 0.11 0.12 0.29 0.13 0.17 0.15 0.27 0.11 0.12 0.11 0.19 0.07 0.08 0.07 0.09 0.39 0.44 0.39 0.23 0.11 0.12 0.11 0.18 0.03 0.06 0.03 0.06 0.07 0.11 0.11 0.14 0.08 0.15 0.08 0.07 0.16 0.09 0.12 0.06 0.07 0.06 0.10 0.06 0.10 0.06 0.17 0.02 0.10 0.05 0.10 0.03 0.04 0.03 0.10 ... ...

0.04 0.14 0.17 0.14 0.22 0.04 0.07 0.04 0.12 0.01 0.02 0.02 0.03 ... ...

10.24 11.10 0.20 0.30 0.22 0.22 0.06 0.07 0.07 0.13 0.13 0.15 0.13 0.09 0.10 0.09 0.16 0.20 0.22 0.23 0.58 0.18 0.30 0.30 0.30 0.10 0.13 0.09 0.96 0.04 0.04 0.04 0.08 ... ...

0.35 0.55 0.09 0.10 0.09 0.32 0.02 0.02 0.02 0.06 0.09 0.10 0.10 0.25 0.59 0.59 0.60 0.80 0.08 0.13 0.08 0.08 0.03 0.04 0.03 0.09 0.15 0.17 0.16 0.25 0.10 0.15 0.10 0.15 0.04 0.08 0.07 0.18 0.05 0.07 0.05

0.05 0.08 0.06 0.32 0.03 0.05 0.04 0.16 0.95 0.07 0.11 0.03 0.03 0.09 0.17 0.03 0.04 0.19 0.04 0.04 0.20 0.09 0.06 0.09 0.08 0.02 0.24 0.15 0.10 0.01 0.23 0.07 0.05 0.10 0.08 0.09 0.03 0.01 0.26 0.04 0.02 0.05 0.07 0.09 0.11 0.10 0.10 0.04 0.03 0.08 0.01 0.06 0.07 0.03 0.04 0.04 0.03 0.14 0.04 0.01 6.57 0.14 0.07 0.09 0.23 0.18 0.09 0.03 0.02 0.08 0.02 0.07 0.29 0.04 0.01 0.13 0.10 0.07