Some investor's terms "borrowed" from the website of the good people at Ivanhoe Mines Ltd. (Mining Glossary)

http://www.ivanhoe-mines.com/s/Minin...

Anomaly

An anomaly is a departure from the norm which may indicate the presence of mineralization in the underlying bedrock. Geochemical anomalies and Induced Polarization (IP) anomalies are two of the most common anomalies described in exploration.

Assay

The chemical analysis of an ore, mineral, concentrate of metal to-determine the amount of valuable species. Precious metals are usually given in ounces per short ton or grams per metric tonne, while base metals are given in percentage.

National Instrument 43-101

National Instrument 43-101 (NI 43-101) is a rule developed by the Canadian Securities Administrators (CSA) and administered by the provincial securities commissions that governs how issuers disclose scientific and technical information about their mineral projects to the public. It covers oral statements as well as written documents and websites. It requires that all disclosure be based on advice by a "qualified person" and in some circumstances that the person be independent of the issuer and the property.

Open-pit Mining

Open-pit mining is the most common method mining porphyry copper and these open pits account for some of the largest man made holes in the world. When determining the size of an open pit the normal ratio is 50% of the shortest distance across. In other words if a deposit is 800 ft long by 600 ft wide, the pit can be 300 feet deep. This is because the ramps need to be wide enough to allow large trucks to go up and down.

The open pit mine is the least expensive kind, and it is every developer's first choice where an orebody is situated close to the surface, is big enough and has little overburden.


Ore Reserves

The calculated tonnage and grade of mineralization which can be extracted profitably: classified as possible, probable and proven according to the level of confidence that can be placed in the data.

Pre-Feasibility Study

A pre-feasibility study is a comprehensive study of the viability of a mineral project that has advanced to a stage where the mining method has been established, and which, if an effective method of mineral processing has been determined, includes a financial analysis based on reasonable assumptions of technical, engineering, operating, economic factors and the evaluation of other relevant factors which are sufficient for a qualified person, acting reasonably, to determine if all or part of the mineral resource may be classified as a mineral reserve.

Scoping Study

A scoping study is the first level of study that is performed on a mineral deposit to determine its economic viability. This is usually performed to determine whether the expense of a full pre-feasibility study and later full feasibility study is warranted. Much can be determined from a scoping study. A proper scoping study must be performed by independent engineers.

Proven Reserves

Reserves that have been sampled extensively by closely-spaced diamond drill holes and developed by underground workings in sufficient detail to render an accurate estimation of grade and tonnage. Also called measured reserves.

Qualified Person .............*(aka Kian A. Jensen)

A qualified person (QP) as defined in NI 43-101 as an individual who:

a) is an engineer or geoscientist with at least five years of experience in mineral exploration, mine development or operation or mineral project assessment, or any combination of these;
b) has experience relevant to the subject matter of the mineral project and the technical report; and
c) is a member in good standing of a professional association.

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