The Fermont Property consists of 17 strategically located claims blocks located in 3 Clusters at the southern end of the Labrador Trough. The Fermont Property currently has over 1 billion tonnes of estimated iron ore resources (combined NI 43-101 and historical non-NI 43-101 resources1). There are 603 million tonnes (MT) of NI 43-101 Inferred Resources2 grading 29% Total Iron (“Fe”) on two of the 17 Fermont properties, the Fire Lake North and Bellechasse Projects. The Company’s other Fermont properties contain an additional 603 MT of historical Mineral Resources (non-NI 43-101 compliant) grading 30.5% Fe with significant large tonnage potential. Champion and Fancamp Exploration Ltd. (TSX-V:FNC) are currently in an 82.5% / 17.5% joint venture on the Fermont Property.

The Fermont Property’s claim blocks are adjacent or proximal to both Consolidated Thompson Iron Mines Ltd.’s and ArcelorMittal's properties. They are all located close to power, roads and rail connecting to ports on Quebec's northern shore of the St. Lawrence seaway.