Recent Updates

NI 43-101 compliant resource calculation based on historical drilling data and recent work from the JF West Zone. The 2010 Mineral Resource Estimate was performed using all available results by Pierre-Luc Richard, B.Sc., P.Geo., and Carl Pelletier, B.Sc., P.Geo., both independent Qualified Persons as defined in National Instrument 43-101.

Based on InnovExplo's recommendation, a cut-off grade of 2.00 g/t Au was used, which results in an Inferred Resource of 851,000 metric tonnes grading 2.62 g/t Au for a total of 71,700 ounces of gold on the JF West zone. When a cut-off of 1.00 g/t Au is used, an Inferred Resource of 2,857,200 metric tonnes grading 1.64 g/t Au containing a total of 150,700 ounces of gold is obtained.

The geological model and current resource estimate demonstrate that the JF West contains at least seven (7) continuous mineralized lenses having a minimum width of 1.5 m and a length between 360 and 1,250 m.

The observations during the resource calculation led InnovExplo to believe that the mineral potential of the property has not yet been fully evaluated by diamond drilling. Given the spatial distribution of the known mineralized lenses, it is very likely that additional zones could be present, particularly at depth. The Inferred Resources are contained in seven (7) main lenses in close proximity (5 to 25 m), which is a positive factor for future potential mining operations. Additional in-fill and extension drilling will therefore rapidly increase the resource base as well as move some of the resources in the indicated category.