Re: FWR, KWG, SPQ 43-101

Table 20.1 SKF JV Budget Proposals for the Global Definition of Resources of the Big Daddy Deposit PHASE I
Planning
$5,000
Line cutting
37.5 km (incl. skidoo rental, gasoline, etc
32,100
Geophysics
gradiometer & gravity + standby, mob / de-mob, etc
67,500
Re-log
geologistsm GeoTic licence, mob / demob, XRF & mag susc rental
128100
Assays
includes saw blades, sample shipment, etc
25,900
43-101 Report
includes site visit, assays, etc
68,300
Metallurgy
86,900
Geo Consultant
13,200
Helicopter
incl fuel
89,900
Fixed wing
49,500
Drafting
5,000
Meals / Camp Costs
103,500
Sub total
674,900
Contingency (9.6%)
65,100
TOTAL
740,000
PHASE II
Planning
18,300
Drilling
16,000m + fuel
2,222,600
Geology
geos, geotecks, GeoTic lic., core racks, XRF & mag susc rental, down hole survey
673,800
Assays
incl assoc. costs
135,300
Resources est / 43-101
82,500
Env studies
66,000
Helicopter
incl fuel
906,400
Fixed Wing
99,000
Meals / Camp costs
426,400
Sub total
4,630,000
Contingency (8.0%)
370,000
TOTAL
5,000,000