From the Frazer Mac Report The other significant intercept in our view is hole SP-120 which hit 0.51 g/tonne over 202.0 metres. While not spectacular in grade, this intersection results in a grade-thickness of over 100 gram-metres. This impressive gold budget, to us, is indicative that the hole is likely drilled on the margins of a Portage style mineralized zone. It is unclear as to the geometry of the zone in this south-east area and whether or not it represents the strike extension of the actual Portage. Should follow-up drilling confirm the existence of Portage style grade and width tenors this far to the south-east, our 7 million potential ounce estimate will likely be conservative.