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SHOAL LAKE ADVANCED GOLD PROJECT ONTARIO, CANADA COUGAR METALS NL TYCOON GOLD RESOURCES INC GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM FORWARD LOOKING STATEMENT This document, and the

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SLIDE 1

SHOAL LAKE ADVANCED GOLD PROJECT

ONTARIO, CANADA

COUGAR METALS NL

TYCOON GOLD RESOURCES INC

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

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SLIDE 2

FORWARD LOOKING STATEMENT

This document, and the information contained in this document, is confidential and is being supplied to you solely for your information and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published in whole or in part, for any purpose. The distribution of this presentation in other jurisdictions may be restricted by law and persons into whose possession this presentation comes (or a copy hereof) should inform themselves about, and observe, any such restriction. Any failure to comply with these restrictions may constitute a violation of the laws of any such other jurisdiction. This document does not constitute or form any part of any offer or invitation or other solicitation or recommendation to purchase any securities and contains information designed only to provide a broad overview for discussion purposes. As such, all information and research material provided herein is subject to change and this document does not purport to provide a complete description of the investment opportunity. All expressions of opinion are subject to change without notice and do not constitute advice and should not be relied upon. The Company does not undertake any obligation to update or revise the information in or contents of this document. Recipients of this document who may consider acquiring shares in the Company are reminded that any such acquisition should not be made on the basis of the information contained in this document. The Company nor its employees, advisers or representatives nor any other person makes any guarantee, representation, undertaking or warranty, express or implied as to the accuracy, completeness, correctness or fairness of the information and opinions contained in this document (or as to the reasonableness of any assumptions on which any of the same is based or the use of any of the same), nor does the Company nor its employees, advisers or representatives nor any other person accept any responsibility or liability whatsoever for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection therewith. The information contained in this document is considered to be unpublished price sensitive. By receiving this document you will be an insider and, as a consequence, may not trade in any of the Company’s securities or on the basis of any information contained in this document until such time as you are informed otherwise by the Company or its agents.

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

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SLIDE 3

CORPORATE STRUCTURE & PROJECT MANAGEMENT

COUGAR METALS holds a laterite nickel and cobalt rights over the Pyke Hill tenement located in Australia’s Murrin Murrin complex where Minara’s operations produce in excess of 36kt Ni per

  • annum. The Pyke Hill tenement holds a resource of 14.7Mt @0.9% Ni and 0.06% Co of laterite
  • re.
  •  -

COUGAR BRASILIA MINERACAO holds a key land position in the emerging Alta Floresta gold belt in Brasil and the Ze Vermelho trial mine which is now on care and maintenance.

  •  -

GEOLOGICA SONDAGENS owns 9 drills in Brasil and continues to advance with a strategy towards becoming a premier RC provider taking advantage of a paradigm shift in the industry.

  •  -

TYCOON GOLD RESOURCES INC is an Ontario Corporation and wholly owned subsidiary of Cougar Metals NL created to execute the Shoal Lake gold project.

  •  -

SENIOR MANAGEMENT comprises Randal Swick (Managing Director), Paul Nagerl (Exploration Manager), and Michael Fry (CFO)

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

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SLIDE 4

ALTA FLORESTA EMERGING GOLD BELT - BRASIL

Strong presence since 2005 with exceptional land package and aggressive exploration culminated in trial mining operations in 2011. Market conditions, Brasilian operating limitations and exploration activities provided less than expected results with the operation being placed on care and maintenance in late 2012. Cougar is seeking JV partners for its remaining significant land holding within three districts and sale of assets. It is a zero net investment strategy anticipating total divestment prior to year end.

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

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SLIDE 5

DRILLING BUSINESS – GEOLOGICA SONDAGENS

  • Brasil based and focused
  • Wholly owned subsidiary of CGM
  • Provider of diverse drilling services including diamond, AC, RC and RAB
  • Locally managed based in the Brasillian mining center of Belo Horizonte
  • An accepted mid tier provider of high quality drilling services
  • Well equipped with 9 drills available – 5 currently in service

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

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SLIDE 6

SHOAL LAKE PROJECT

  • Located in Ontario Canada within 15km of the Trans Canadian Highway
  • Acquisition of Shoal Lake Option signifies a move from a complicated high risk jurisdiction to a

stable established mining environment

  • Advanced project with near term resource potential
  • Lies within a favourable mining jurisdictions with stable Government with excellent

infrastructure & access

  • Location provides for cost effective exploration and mining
  • Possesses brownfields and grassroots exploration opportunities.
  • A strong foothold in a historic and prolific gold region

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

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SLIDE 7

SHOAL LAKE

GOLD PRODUCING DISTRICTS OF CANADA

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SLIDE 8

SHOAL LAKE PROJECT LOCATION

Map with Cameron Lake, regional geology, main cities, rail, road, airports, mining centers Canada, Ontario, north west Ontario, Winnipeg, Kenora, Trans Canada Hwy

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

Cameron 1.5Moz Rainy River 8.4Moz

  • South of mines Musselwhite 7.5Moz, Rice Lake 4Moz, and Red Lake 39Moz
  • Nearby deposits at Cameron, Rainy River, High Lake 0.1Moz and West Hawk 0.2Moz & adjacent to Duport

deposit and Machin property

  • Access off Trans Canada highway between the cities Winnipeg and Kenora ; close rail and hydro

Hammond Reef 7.2Moz Duport 0.3Moz Goliath 1.6Moz

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SLIDE 9

SHOAL LAKE OPTION AGREEMENT

Earn 51% undivided interest in mineral and surface rights by:

  • 1. Making quarterly payments totalling $825,000 over four years
  • 2. Completing a bulk sample.
  • 3. Making a final payment in four years equally to 50% of the profit from the bulk sample or $

5 million; which ever is greater.

  • 4. Subject to earning its interest in the project, a joint venture will be formed with the vendor

whereby Cougar must complete a PFS with vendor’s free carried to its completion.

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

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SLIDE 10

HISTORY OF THE SHOAL LAKE GOLD DISTRICT

DISCOVERY of gold in the Shoal Lake area in 1880’s led to the development of four mines and of a number of significant occurrences. Mining of gold commenced in 1893 and continued intermittently until 1936. During this period the region was considered Ontario’s premier gold district; prior to the discovery of the Timmins gold camp. EXPLORATION of the region was carried out by a number companies. No exploration was carried out on the property between 1936 and 1980. Recognition of the mineralization extending onto the mainland prompted a renewed exploration effort on the property which was led by Dennison Mines, St Joe Canada,, Bond Gold, and Amador through until 2004. No significant work has been completed on the property since that time. TODAY the property has largely overgrown with indigenous forest cover, obscuring much of the historic

  • infrastructure. Mine shafts, trenches, tailings and buildings are however still easily identifiable. Old grids and

drill hole collars are less easily recognized. Drill core is stored on site but in poor condition. Pulps and rejects are not available. The Kenora Mining District was the largest gold producing region in Ontario at the turn of the 19th century, producing a total of approximately 19,000 ounces of gold from 1899-1947.

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

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SLIDE 11

GEOLOGY & PROPERTY

  • Part of the Wabigoon Subprovince in the Canadian Shield.
  • Archean volcano-sedimentary Terrain intruded by felsic, mafic and ultramafic bodies
  • Folded, faulted and sheared with regional amphibolite grade metamorphism
  • 28 patented mining claims (MRO & SRO) totalling 650 ha, 100% held by KPM
  • Option to earn 51% by making payments and completing a work commitment over a 4 year period

1,000 500

metres

BAG BAY HELLDIVER BAY Mafic Intrusive Felsic Intrusive Mafic Volcanic

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

28 PATENT MINING CLAIMS WITH SURFACE RIGHTS

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SLIDE 12

  

      

   

1,000 500

metres

BAG BAY HELLDIVER BAY Mafic Intrusive

PAST PRODUCERS & OCCURRENCES

MIKADO MINE CEDAR ISLAND MINE

CEDAR ISLAND MAINLAND Rich in gold history and gold occurrence; a reflection of the area’s gold potential. The KPM Option alone ....

  • Two past producers, 10 gold occurrences, and the Cedar Island Mainland Deposit
  • Shear zone related, quarts/carbonate and pyrite associated gold mineralization
  • Gold occurrences as multiple parallel veins or in stringers and breccia
  • High grade “shoots” can be exhibit short strike length but in excess of 200 metre vertical continuity

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

IMPERIAL OLYMPIA MINE TYCOON CROWN POINT LUDWIG YUM YUM NANKIPOO GOLD COIN GRANO ZONE BULLION 1 & 2 SIRDAR 1 & 2 MCKINNON REEF OLD ONTARIO No 11 OLD ONTARIO No 6 MIKADO BAY PENNINSULA

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SLIDE 13

MIKADO MINE – PAST PRODUCER

  • Discovered in 1893 with intermittent production (from 1896-1902, 1922-

23,and 1932-34) totalling an estimated 31,000 oz

  • 2 vertical shafts and a decline with 10 levels UG to -180 metres
  • Gold occurs in en-echelon veins as native gold associated sulphide

(predominantly pyrite)

  • Indications of additional ore and strike/depth continuity

Mikado Mine visible gold (5cm sample).

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

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SLIDE 14

CEDAR ISLAND MINE – PAST PRODUCER

  • Formerly named Cornucopia produced intermittently (1896, 1932 and 1935-36) for a total reported 5,260 oz

Au at and average grade of 9.6 gpt.

  • 28,000t at 24 gpt Au reported outlined UG
  • Inclined and vertical shaft with UG development on 5 levels
  • Contiguous to newly discovered Cedar Mainland Deposit

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

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SLIDE 15

SURFACE DIAMOND DRILLING

  • Historic surface diamond drilling on KPM option in excess of 39,000 metres

concentrated between 1981 and 2004

  • Defines two parallel trends associated with gold occurrences and past producers

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

  

      

   

                                                                                                                                                                                                                                           

1,000 500

metres

Cedar IsLand Mikado No 3 Vein Olympia Bullion 1 Bullion 2 Nankipoo Imperial Mikado Bay Zone Sirdar 1 Sirdar 2 Granozone Gold Coin Ludwig Old Ontario No 6 Vein Old Ontario No 11 Vein Tycoon McKinnon Reef Yum Yum

BAG BAY HELLDIVER BAY Mafic Intrusive

YEAR HOLES METRES RESULT 1981 26 2,256 Mikado #2 Vein & Grano Zone 1986-88 141 29,259 Cedar Mainland Zone 2003-04 46 13,216 Extend CML Zone TOTAL 203 44,731

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SLIDE 16 K 86 - 03 8 K 86 - 03 9 K 86 - 04 0 K 86 - 04 1 K 8 7
  • 1
7 K 8 7
  • 1
8 K 87 - 10 9 K 87 - 11 0 K 88 - 12 7 K 88 - 12 8 K 88 - 12 9 K 88 - 13 0 S L0 4- 1 88 S L7 9- 0 4 K 86 - 00 3 K 86 - 00 3a K 86 - 00 4 K 86 - 00 5 K 86 - 07 6 K 86 - 07 7 K 86 - 07 8 K 87 - 08 2 K 87 - 08 3 K 88 - 11 9 K 88 - 12 0 K 88 - 12 1 K 8 8
  • 1
2 2 K 88 - 12 3 K 88 - 12 4 K 88 - 12 5 K 88 - 12 6 K 86 - 01 4 K 86 - 01 5 K 86 - 01 6 K 86 - 01 7 K 88 - 11 5 K 88 - 11 6 K 88 - 11 7 K 8 8
  • 1
1 8 S L0 3- 1 43 S L0 3- 1 44 S L0 3- 1 45 S L0 3- 1 46 S L 4
  • 1
5 5 S L0 4- 1 56 S L0 4- 1 57 S L0 4- 1 58 S L0 4- 1 59 S L0 4- 1 60 S L0 4- 1 61 S L0 4- 1 62 K 87 - 09 1 K 87 - 09 2 K 87 - 09 3 K 87 - 09 4 K 88 - 13 5 K 8 8
  • 1
3 6 K 88 - 13 7 K 88 - 13 8 K 86 - 05 5 K 86 - 05 6 K 86 - 05 7 K 86- 058 K 86 - 05 9 M 81- 02 M 81- 03 M 81- 04 M 81- 05 M 81- 06 M 81- 07 M 81- 08 M 81- 09 K 86 - 02 2 K 86 - 02 3 K 86 - 02 4 K 86 - 02 5 S L0 3- 1 47 S L0 3- 1 48 S L0 3- 1 49 S L0 3- 1 50 S L0 4- 1 63 S L0 4- 1 64 S L0 4- 1 65 S L 4
  • 1
7 S L0 4- 1 71 S L 4
  • 1
7 2 S L0 4- 1 73 S L0 4- 1 74 S L0 4- 1 75 S L0 4- 1 76 S L 4
  • 1
7 7 S L 4
  • 1
7 8 S L0 4- 1 79 S L 4
  • 1
8 K 86 - 07 2 K 86 - 07 3 K 86 - 07 4 K 8 6
  • 7
5 K 8 6
  • 6
K 86 - 00 7 K 86 - 00 8 K 86 - 00 9 K 86 - 01 0 K 86 - 01 1 K 86 - 01 2 K 86 - 01 3 K 86 - 04 2 K 86 - 04 3 K 86 - 04 4 K 86- 045 K 86 - 04 6 K 86 - 01 8 K 86 - 01 9 K 86 - 02 0 K 86 - 02 1 S L0 4- 1 66 S L0 4- 1 67 S L0 4- 1 68 S L0 4- 1 69 S L0 4- 1 81 S L0 4- 1 82 S L0 4- 1 83 S L0 4- 1 84 S L0 4- 1 85 S L0 4- 1 86 S L0 4- 1 87 K 86 - 04 7 K 86 - 04 8 K 86 - 04 9 K 86- 050 M 81- 10 M 81- 11 M 81- 12 M 81- 13 C 8 1- 0 1 C 8 1- 0 2 C 8 1- 0 3 K 8 6
  • 1
K 86 - 00 2 K 86 - 02 6 K 86 - 02 7 K 86 - 02 8 K 86 - 02 9 K 86 - 03 0 K 86 - 03 1 K 86 - 03 2 K 86 - 03 3 K 86 - 03 4 K 86 - 03 5 K 86 - 03 6 K 86 - 03 7 K 86 - 05 1 K 86 - 05 2 K 86 - 05 3 K 86 - 05 4 K 86 - 06 0 K 86 - 06 1 K 86 - 06 2 K 86 - 06 3 K 86 - 06 4 K 86 - 06 5 K 86 - 06 7 K 86 - 06 8 K 8 6
  • 6
9 K 86 - 07 0 K 86 - 07 1 K 87 - 08 4 K 87 - 08 5 K 87 - 08 5a K 87 - 08 6 K 87 - 08 7 K 87 - 08 8 K 87 - 08 9 K 87 - 09 0 K 8 7
  • 9
5 K 87 - 09 6 K 87 - 09 7 K 87 - 09 8 K 87 - 09 9 K 87 - 10 0 K 8 7
  • 1
1 K 87 - 10 2 K 87 - 10 3 K 87 - 10 4 K 8 7
  • 1
5 K 87 - 10 6 K 87 - 11 1 K 8 7
  • 1
1 2 K 88 - 11 3 K 8 8
  • 1
1 4 K 8 8
  • 1
3 1 K 8 8
  • 1
3 2 K 88 - 13 3 K 88 - 13 4 K 8 8
  • 1
3 9 K 89 - 14 0 K 8 9
  • 1
4 1 M 81- 01 S L0 3- 1 42 S L0 3- 1 51 S L0 3- 1 52 S L0 4- 1 53 S L 4
  • 1
5 4

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                                                                                                                                                                                                

500

                                                                                                             

250

metres

Cedar IsLand Mikado No 3 Vein Bullion 1 Bullion 2 Mikado Bay Zone Sirdar 1 Sirdar 2 Granozone McKinnon Reef

SUMMARY OF GOLD INTERSECTIONS

  • Of the 194 surface diamond drill holes on KPM ground 107 holes have intersections

>5 gpt Au; some with multiple intersections

  • Drill hole results are supported by a number of results from trenches and define the

Cedar Island Mainland gold deposit and other gold bearing trends

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM MIKADO MINE CEDAR ISLAND MINE

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SLIDE 17

EXAMPLE DRILL SECTIONS

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

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SLIDE 18

COMPOSITE GOLD INTERSECTIONS

Hole Vein From (m) To (m) Width (m) Au g/t K86-09 MZ 32.25 34.40 2.15 7.72 K86-42 MZ 68.35 70.60 2.25 18.49 K88-140 MZ 187.17 191.40 4.23 22.20 K88-141 MZ 363.97 368.75 4.78 12.29 K86-51 BV 39.30 44.50 5.20 3.55 K87-84 BV 129.88 135.00 5.12 14.64 K87-86 BV 170.50 172.15 1.65 39.61 K88-129 FW 173.37 175.37 2.00 11.14 K86-74 FW1 75.30 75.70 0.40 16.46 K86-74 FW2 13.55 13.95 0.40 44.60 K86-128 FW2 228.73 230.23 1.50 3.77 K87-95 HW1 154.19 155.48 1.29 17.09 K87-102 HW1 345.30 347.45 2.15 8.04 K88-131 HW1 119.37 120.77 1.40 22.58 K89-141 HW2 320.63 324.30 4.17 8.18 K86-37 HW2 28.35 32.40 4.05 5.90 K86-70 HW2 57.50 60.00 2.50 13.90

GLOBAL EXPLORATION AND DEVELOPMENT OF PRECIOUS AND BASE METALS & DRILLING SERVICES ASX:CGM

Hole Location From (m) To (m) Width (m) Au g/t SL04-26 9 EAST ZONE 55.00 65.70 10.70 22.51 includes 56.00 56.50 0.50 278.51 and 57.00 57.50 0.50 93.81 SL04-32 9 EAST ZONE 210.52 218.00 7.48 7.42 SL04-43 9 EAST ZONE 120.60 122.70 2.10 29.71 SL04-20 DEPTH EXTENSION 471.40 472.30 0.90 10.89 SL04-31 EASTERN EXTENSION 110.00 110.80 0.80 4.87

Hole-ID From_m To_m Au gpt Len K86-009 33.80 34.40 20.570 0.60 K86-036 59.92 60.70 21.940 0.78 K86-037 29.16 29.65 26.740 0.49 K86-039 45.80 45.95 56.910 0.15 K86-041 95.15 95.95 15.090 0.80 K86-042 68.64 68.82 45.260 0.18 K86-042 68.82 69.24 71.310 0.42 K86-046 62.10 62.60 23.310 0.50 K86-047 49.40 49.47 22.630 0.07 K86-049 78.12 78.64 18.510 0.52 K86-052 163.50 163.90 20.571 0.40 K86-052 180.13 180.63 27.429 0.50 K86-060 70.13 70.80 15.770 0.67 K86-066 81.81 82.21 50.740 0.40 K86-067 127.30 127.74 58.970 0.44 K86-070 58.23 58.63 122.060 0.40 K86-071 202.19 202.59 17.830 0.40 K86-072 147.75 148.60 26.100 0.85 K86-073 221.31 222.29 23.310 0.98 K86-078 196.20 196.90 15.090 0.70 K87-084 132.58 133.58 56.914 1.00 K87-086 171.00 171.85 48.000 0.85 K87-086 200.88 201.38 17.143 0.50 K87-089 166.03 166.53 19.890 0.50 K87-092 177.50 177.90 23.314 0.40 K87-095 154.19 155.08 24.686 0.89 K87-099 212.37 212.84 67.200 0.47 K87-099 212.84 213.39 15.771 0.55 K87-106 149.60 150.00 97.370 0.40 K88-122 264.35 264.75 15.080 0.40 K88-129 168.23 168.80 24.340 0.57 K88-129 174.37 175.37 20.570 1.00 K88-131 119.37 119.77 59.310 0.40 K88-132 332.58 333.42 642.510 0.84 K88-137 379.53 379.93 23.310 0.40 K88-139 270.00 270.45 235.020 0.45 K89-140 188.06 188.55 42.510 0.49 K89-140 188.55 189.55 58.970 1.00 K89-141 323.23 323.90 37.710 0.67 K89-141 368.09 368.75 207.420 0.66 SL03-149 16.60 16.90 26.540 0.30 SL04-159 34.90 35.40 23.500 0.50 SL04-160 125.90 126.30 31.060 0.40 SL04-161 471.80 472.30 16.355 0.50 SL04-163 410.00 410.40 19.444 0.40 SL04-163 435.40 435.80 18.945 0.40 SL04-167 56.00 56.50 278.503 0.50 SL04-167 57.00 57.50 93.807 0.50 SL04-168 101.00 101.50 17.959 0.50 SL04-168 101.50 102.00 67.317 0.50 SL04-170 112.60 113.00 81.149 0.40 SL04-171 136.89 137.29 17.111 0.40 SL04-173 211.02 211.52 18.915 0.50 SL04-173 211.52 212.00 19.967 0.48 SL04-173 212.00 212.50 26.491 0.50 SL04-179 255.00 255.75 15.972 0.75 SL04-180 79.80 80.20 69.719 0.40 SL04-180 81.60 82.00 31.136 0.40 SL04-181 101.00 101.40 21.792 0.40 SL04-182 26.00 26.70 24.623 0.70 SL04-182 82.20 82.90 38.786 0.70 SL04-182 83.90 84.50 16.096 0.60 SL04-183 105.10 105.70 21.605 0.60 SL04-184 57.50 57.90 16.231 0.40 SL04-184 120.60 121.00 67.900 0.40 SL04-184 121.50 122.30 34.858 0.80 SL04-185 115.50 116.00 20.307 0.50 SL04-186 128.75 129.15 21.607 0.40 SL04-186 129.15 129.85 33.407 0.70 SL04-188 61.30 61.70 19.851 0.40

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SLIDE 19

METALLURGY

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  • Metallurgical tests have been carried out throughout the history of the property using a variety of samples

and methods. The results of these tests are likely to vary between veins and occurrences and will form part

  • f a more comprehensive study as part of the planned bulk sample program.
  • The available test results have only been briefly studies with no fatal flaws encountered. A very brief

summary of recent test is provided below. LAKEFIELD RESEARCH (1987 to 1989)

  • Overall gold recovery by gravity separation and flotation was 97.5%
  • 10-40% gold reporting to amalgam, 40-60% to cyanide solution, and 10% to flotation

NORANDA HEMLO MINE LAB (1988)

  • 92.9 to 98.1% recovery from Main Vein
  • 89.4 to 97.8% recovery from Hangingwall Vein and Footwall Vein
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SLIDE 20

GRANO ZONE GOLD OCCURENCE

  • Located 60 metres east and sub-parallel to the Mikado No. 2 vein
  • Discovered by Denison in 1981 with high grade values over mineable widths intersected in drill holes
  • DDH M81-01 intersected 10.63 gpt Au over 2.4m
  • This zones remains open and is considered as a potential contributor to a local global gold resource.

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SLIDE 21

SUMMARY OF TRENCH RESULTS - CML/MIKADO (pre 1986)

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LOCATION AU OPT AU GPT METRES Cedar Island 0.10 3.43 Grab Cedar Island 0.14 4.80 Grab Cedar Island 0.08 2.74 Grab Cedar Island 2.46 84.34 Grab Cedar Island 0.42 14.40 Grab Cedar Island 0.42 14.40 grab C9 0.22 7.54 0.60 C9 0.20 6.86 0.64 C9 0.52 17.83 0.40 C6_9 0.14 4.80 1.17 C6_9 0.02 0.69 1.32 C6_9 0.32 11.00 1.00 C6_9 0.18 6.17 2.50 C6_9 0.04 1.37 1.10 C5 0.08 2.74 1.20 C5 0.06 2.06 0.69 C5 0.06 2.06 0.52 C5 0.01 0.34 0.84 C3_4 1.26 43.20 0.55 C3_4 1.08 37.03 0.67 C3_4 0.08 2.74 1.35 C3_4 0.02 0.69 0.43 C3_4 0.16 5.49 1.40 C17 0.78 26.74 0.15 C17 0.90 30.86 0.15 C17 0.72 24.69 0.10 C17 0.64 21.94 0.30 C17 0.16 5.49 0.54 C17 0.10 3.43 1.10 C17 0.24 8.23 0.13 C17 0.01 0.34 0.23 C17 0.06 2.06 0.10 C17 0.06 2.06 0.23 C17 0.01 0.34 0.25 C17 0.08 2.74 0.12 C16 0.02 0.69 0.40 C16 0.28 9.60 0.20 C16 0.01 0.34 0.14 C15 0.64 21.94 1.21 C14 0.04 1.37 0.36 C14 0.06 2.06 0.79 C14 0.10 3.43 0.46 C14 0.10 3.43 1.60 C13 0.10 3.43 0.62 C13 0.44 15.09 1.28 LOCATION AU OPT AU GPT METRES Mikado X 0.01 0.34 0.30 Mikado X 0.10 3.43 0.27 Mikado X 0.06 2.06 0.40 Mikado X 0.02 0.69 0.43 Mikado X 0.08 2.54 0.63 Mikado X 0.01 0.34 0.51 Mikado X 0.02 0.69 1.04 M7 0.06 2.06 grab M2,_3_4 0.16 5.49 0.33 M2,_3_4 0.26 8.91 0.14 M15 1.37 chip M15 3.42 chip M15 1.37 chip M15 0.34 chip M14 0.38 13.02 chip M14 0.42 14.40 grab M13 0.02 0.69 0.33 M13 0.01 0.34 0.25 M13 0.01 0.34 0.67 M13 0.01 0.34 0.56 M11 0.02 0.69 0.44 M11 0.02 0.69 0.50 M11 0.02 0.69 0.16 M11 0.01 0.34 0.43 M11 0.02 0.69 0.25 M11 0.02 0.69 0.71 M11 0.01 0.34 1.10 M11 0.01 0.34 0.79 M11 0.02 0.69 0.89 M11 0.18 6.17 0.05 M11 1.37 chip M11 4.79 grab M11 2.74 grab

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SLIDE 22

OTHER OCCURRENCES ON KPM OPTION

Old Ontario

  • Two veins
  • Up to 631 gpt Au from surface and 4.11 gpt Au/0.40 m DDH

Bullion 1 & 2

  • 101 gpt Au from surface

Sirdar 1 and 2 Penninsula Zone

  • Multiple intresection up to 13.03 gpt Au / 1.00 m in DDH

McKinnon Reef

  • 3.51 opt Au over 0.33m and 1.45 opt Au over 7.6m

Mikado Bay

  • 32 gpt Au over 1.5m in DDH

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Bullion2 5092 0.01 0.34 1.04 Bullion2 5093 2.96 101.49 grab Bullion2 5094 0.02 0.69 grab OCURRENCE SAMPLE AU opt Au gpt metres Old Ontario 9503 0.02 0.69 0.28 Old Ontario 9504 0.02 0.69 0.23 Old Ontario 9508 0.01 0.34 0.18 Old Ontario 9509 18.52 631.00 0.10 Old Ontario 9510 3.50 120.00 0.28 Old Ontario 9511 1.30 44.59 0.33 Old Ontario 9512 0.16 0.06 0.20 Old Ontario 9513 0.10 2.74 0.06 Old Ontario 9516 0.08 2.74 0.30 Old Ontario 9520 0.04 1.37 0.41 Old Ontario 9521 0.08 2.74 0.79 Old Ontario 9524 0.04 1.37 0.40 Old Ontario 9530 0.04 1.37 0.10 Old Ontario 9533 0.02 0.69 0.48 Old Ontario 9534 0.06 2.06 0.30 Old Ontario 9537 0.06 2.06 0.86 Old Ontario 9545 0.01 0.34 0.79 Old Ontario 9548 1.20 41.14 0.50 Old Ontario 9549 0.08 2.74 grab Old Ontario 9550 0.06 2.06 grab Old Ontario 9551 0.08 2.74 0.13 Old Ontario 9556 0.36 12.34 0.20 Old Ontario 9557 0.01 0.34 0.30 Old Ontario 9558 0.98 33.60 grab Old Ontario 9559 0.60 20.57 grab Old Ontario 9560 0.20 6.86 Old Ontario 9561 0.08 2.84 1.10

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SLIDE 23

WORK PLAN

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