Voting Shares and Principal Holders of Voting Shares

The Corporation is authorized to issue an unlimited number of Class A common shares, Class B subordinate voting shares and preference shares.

At March 3, 2008, there were outstanding 9,353,450 Class A common shares, each carrying the right to 100 votes per share, and 432,657,282 Class B subordinate voting shares, each carrying the right to one vote per share.

The Class B subordinate voting shares carry 31.63% of the aggregate voting rights attached to the Class A common and Class B subordinate voting shares.

Temagami Mining Company Limited (“Temagami”) has informed the Corporation that as at March 3, 2008, it beneficially owned or exercised direction or control over 4,300,000 Class A common hares (representing 45.97% of the Class A common shares outstanding) and 860,000 Class B subordinate voting shares (representing 0.20% of the Class B subordinate voting shares outstanding) of the Corporation, which shares represent 31.50% of the total votes attached to the combined outstanding Class A common shares and Class B subordinate voting shares.

Keevil Holding Corporation beneficially owns 51% of the outstanding shares of Temagami, and SMM Resources Incorporated (“SMM”), a wholly owned subsidiary of Sumitomo Metal Mining Co. Ltd., beneficially owns 49% of the outstanding shares of Temagami.

In addition to the foregoing, SMM has informed the Corporation that as at March 3, 2008, it beneficially owned and exercised direction or control over 1,469,000 Class A common shares and 295,800 Class B subordinate voting shares of the Corporation. Accordingly, SMM exercises voting rights representing 10.76% of the total votes attached to the combined outstanding Class A common shares and Class B subordinate voting shares of the Corporation.

As of March 3, 2008, Caisse de dépôt et placement du Québec held 1,587,600 Class A common shares which represents 16.97% of the Class A common shares. Those shares, together with 8,481,131 Class B subordinate voting shares (representing 1.96% of the Class B subordinate voting shares outstanding) held by it, represent 12.22% of the total votes attached to the combined outstanding Class A common shares and Class B subordinate voting shares of the Corporation.