The Author has crosschecked

the Amine methodology versus his polygonal longitudinal section methodology and has found no material

differences between the results of the two methodologies.

For

reserve estimation, the Author used the minimum mining width, recovery, and metal price criteria that are currently

used by the Production department. Cut-off grades were based upon current mining costs as presented in the economic

assessment of the Project.

The Author concludes that the work completed to date on the Property has demonstrated the presence of significant gold

reserves and resources that warrant additional surface and underground exploration and development programs with the

objective to confirm the geometry and continuity of the vein structures and to confirm sufficient measured and indicated

mineral resources to warrant completion of internal feasibility studies

Over a 5.5-year mine-life the project will generate $407 million cash surplus before taxes and cashflow from operations

(EBITDA) of $463 million (average EBITDA approximately $84 million per year). The breakeven life-of-mine gold

price is US$575 to allow for recovery of ongoing development capital expenses.

The project has positive cash flow from operations at gold prices in excess of US$575.

In Geoex’s opinion, given the current inventory of approximately 3.7 million tons of inferred resources and the long

operating history of the Rice Lake Project, it is probable that sufficient inferred resources will be converted to resources

to achieve a minimum of 10 years of mine life............................

NI 43-101 Cautionary Note - Mineral resources that are not mineral reserves do not have demonstrated economic