CHALICE MINING LIMITED — Capital/Financing Update 2015

Apr 21, 2015

ABN 47 116 648 956

ASX Announcement

22 April 2015

Chalice expands North American presence with farm-in deal on advanced and highly prospective Canadian gold project

Multiple drill -ready targets; outstanding exploration upside; potential to rapidly delineate gold resources

Key Points:

• Joint venture agreement signed with Northern Superior Resources Inc. (TSX-V: SUP) giving Chalice the right to earn a 65% interest in the advanced Croteau Est Property.

 The Croteau Est Property, located in Québec, includes a 25km strike length of prospective stratigraphy with numerous targets where previous drilling has returned outstanding intercepts such as:

• 7.35m @ 10.24g/t Au from 170.15m (CR011-05) *’

• And 10.55m @ 10.63g/t Au from 179.95m

• Incl. 5.25m @ 20.56g/t Au from 181.75m

• o 19.55m @ 8.55g/t Au from 90.75m (CRO12-10) ’ o 9.75m @ 3.50g/t Au from 171.60m (CRO12-29)’ o 7.65m @ 3.08g/t Au from 160.25m (CRO12-34)’*

 And 11.6m @ 3.17g/t Au from 238.55m o 12.55m @ 2.29g/t Au from 207.45m (CRO12-41)*’ o 6.85m @ 21.32g/t Au from 240.65m (CRO12-46)*’

• At the main prospect, Croteau Bouchard Shear Zone (CBSZ), continuous plus 1 g/t Au mineralisation has been defined over a 1.1km strike, 180m width and to a depth of 575m (Figure 4). The mineralisation remains open in all directions. Limited drilling between surface and -250m at CBSZ.

• The agreement has a minimum expenditure commitment of C$0.5M within 12 months and the Company can earn its equity by spending C$4M within three years.

• The property offers outstanding potential to rapidly delineate a JORC/NI43-101 resource and to make significant new gold discoveries – establishing an attractive growth pipeline for Chalice in North America alongside its 1.3Moz[1] Cameron Gold Project, where a Preliminary Economic Analysis (PEA) is underway.

Chalice Gold Mines Limited (ASX: CHN, TSX: CXN) is pleased to announce that it has further expanded its presence in North America after securing an agreement to earn a majority stake in a highly prospective and advanced gold property in Canada.

The Company has signed a joint venture agreement with Canadian gold explorer Northern Superior Resources Inc. (TSX-V: SUP) giving it the right to earn a 65% interest in the Croteau Est gold property located in Québec (see Figure 1 below).

The property includes a coherent, well defined zone of plus 1 g/t Au mineralisation at CBSZ plus extensive, highly prospective geological trends with outstanding gold geochemical anomalies.

*(all intersections are downhole lengths; see Appendix 1 for survey details)

‘(0.5g/t Au cut-off grade, with up to 2m internal dilution)

Croteau Est complements Chalice’s 100%-owned Cameron Gold Project in Ontario – an advanced gold asset which it acquired last year as the foundation for its North American growth strategy. Cameron has a number of attractive attributes, including good grades (refer Table 1 for full details), low political risk in a mature mining jurisdiction with low costs, conventional metallurgy, and a mid-sized gold project that is well within Chalice’s funding and development capability.

==> picture [502 x 326] intentionally omitted <==

Figure 1: Croteau Est Location, Québec

Croteau Est Joint Venture

The Croteau Est Property is located near Chibougamau in Québec and comprises 213 claims covering 8,316 hectares which are 100%-owned by Northern Superior and 109 claims totaling 3,856 hectares which are under option to Northern Superior.

Under the Croteau Est agreement, Chalice can earn a 65% interest in the property by spending a total of C$4 million on exploration over three years, with a minimum exploration commitment of C$500,000 in the first 12 months. Upon earning a 65% interest, the joint venture becomes a contributing joint venture which is subject to a standard dilution calculation.

The property is located close to a number of historical copper-gold mines in the Chapais-Chibougamou region. The project is well serviced by road, rail and air services, offering year-round access, and is located close to grid power.

The tenement package includes a 25km strike length of prospective stratigraphy, including 17 drill ready targets requiring immediate follow-up and a significant body of quartz-carbonate-sericite alteration and pyrite mineralisation which has been defined as the CBSZ. A total of 44 diamond drill-holes have been completed into the CBSZ (Figures 2, 3 and 4).

Previous drilling has returned some outstanding intersections including 10.55m @ 10.63g/t Au from 179.95m (CRO11-05), 19.55m @ 8.55g/t Au from 90.75m (CRO12-10), 6.85m @ 21.32g/t Au from 240.65m (CRO12-46) (true widths of the drill hole intersections cannot be determined with the information currently available). A full listing of

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drill statistics for the CBSZ is provided in Appendix 1 and JORC table 1 is included at Appendix 2. Significant trench assays are given in Appendix 3.

The joint venture will be managed by Chalice, however, Chalice has entered into a Technical Services Agreement with Northern Superior whereby Northern Superior will provide services on commercial terms enabling Chalice to build on their knowledge base and existing excellent relationships with the community. Chalice has also secured the services of a highly experienced Canadian based geologist and mining executive as the Company’s in-country manager to oversee all of Chalice’s projects in Canada.

The Croteau Est Property is managed under a Pre-Development Agreement with the First Nation community of OujéBougoumou, the Cree Regional Authority and the Grand Council of the Cree.

==> picture [507 x 329] intentionally omitted <==

Figure 2: CBSZ Location and Regional geology plan

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==> picture [530 x 344] intentionally omitted <==

Figure 3: Plan view of the CBSZ showing outline of quartz-carbonate-sericite-pyrite zone and cross cutting QFP (quartz feldspar dikes)

==> picture [423 x 293] intentionally omitted <==

Figure 4: MineSite model of the CBSZ quartz-carbonate-sericite-pyrite zone (oblique view looking south southwest; holes numbers are abbreviated to sequential numbers only; full hole numbers are CRO-yearsequential number)

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Other Terms Relating to the Joint Venture Agreement

Under the joint venture agreement, if a party’s interest is diluted below 10%, its interest will be converted to a NSR interest as follows:

1. With respect to any claims which are already subject to an NSR (to a third party):

2. a. for period(s) where the price of gold (as quoted on the London Gold Fix) is less than C$1,800 per ounce, a 1% NSR; and

3. b. for period(s) where the price of gold (as quoted on the London Gold Fix) exceeds C$1,800 per ounce, a 2% NSR; and

4. With respect to all other claims, a 2% NSR, and in each case, one-half of the NSR can be bought back for C$1,000,000.

Miro Advisors acted as advisors to the transaction for Chalice.

Management Comment

Chalice’s Managing Director, Tim Goyder, said the farm-in agreement with Northern Superior was consistent with the Company’s broader strategic objective, which is to build a quality mid-tier gold business based on multiple near-tomedium term production opportunities in quality jurisdictions. He said:

“Canada is a Tier One jurisdiction in every respect – offering outstanding geological potential, high quality infrastructure, low operating costs, cheap and readily available power. Since acquiring the Cameron Project last year we have been actively reviewing and assessing potential bolt-on growth opportunities in North America. We are very pleased to have reached agreement with Northern Superior, which is an established and respected Canadian exploration company, to farm-in to an outstanding gold exploration project in Croteau Est.

“The Croteau Est Project offers a unique combination of great location, with the potential to establish a resource quickly, walk-up drill targets and a great operating environment. This is a high quality, advanced exploration play – not a conceptual or greenfields project – and has clear potential to deliver a resource in the near term. We are looking forward to commencing exploration activities as soon as possible to unlock this potential.”

==> picture [94 x 49] intentionally omitted <==

TIM GOYDER Managing Director

For further information, please contact: Tim Goyder, Managing Director Chalice Gold Mines Limited Telephone +61 9322 3960

For media inquiries, please contact: Nicholas Read Read Corporate Telephone: +618 9388 1474

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Deposit	Description	Cut-off **Goldg/t **	Class	Tonnes	Gold g/t	Gold Oz
Cameron	Open Cut	0.5g/t	Measured	2,872,000	2.3	212,400
	RL>=750m		Indicated	5,417,000	1.76	306,600
			Meas+Indic	8,289,000	1.95	519,700
			Inferred	881,000	2.07	58,600
	Underground	1.75g/t	Measured	157,000	2.77	14,000
	RL<750m		Indicated	559,000	3.23	58,100
			Meas+Indic	716,000	3.13	72,100
			Inferred	5,709,000	2.78	510,300
Dubenski	Open Cut	1.00g/t	Measured
	RL>=180m		Indicated	806,000	2.28	59,100
			Meas+Indic	806,000	2.28	59,100
			Inferred	392,000	1.44	18,200
Dogpaw	Open Cut	0.5g/t	Measured
	RL>=210m		Indicated	247,000	3.02	24,000
			Meas+Indic	247,000	3.02	24,000
			Inferred	64,000	2.26	4,700
Total			Measured	3,029,000	2.33	226,900
			Indicated	7,029,000	1.98	447,500
			Meas+Indic	10,058,000	2.09	675,900
			Inferred	7,046,000	2.61	591,300

Table 1 – Cameron Gold Project Mineral Resource

Competent and Qualified Persons Statement

The information relating to the Cameron Gold Project Mineral Resource is extracted from the ASX Announcement entitled “Chalice Files Updated 43-101 Technical Report” released on 29 July 2014 and is available to view at www.chalicegold.com. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not materially modified from the original market announcement.

The information in this report that relates to Exploration targets and results is based on information compiled by Mr Gary Snow, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy and is a Fellow of the Australian Institute of Geoscientists. Mr Snow is a full-time employee of the company and has sufficient experience to the activity being undertaken to quality as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ and is a Qualified Person under National Instrument 43-101 – ‘Standards of Disclosure for Mineral Projects’. The Qualified Person has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in this release. Mr Snow consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements

This document may contain forward-looking information within the meaning of Canadian securities legislation and forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). These forward-looking statements are made as of the date of this document and Chalice Gold Mines Limited (the Company) does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law or regulation.

Forward-looking statements relate to future events or future performance and reflect Company management’s expectations or beliefs regarding future events and include, but are not limited to, statements regarding the quantum and price of shares to be acquired under a share buyback, the estimation of mineral reserves and mineral resources, the realisation of mineral reserve estimates, the likelihood of

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exploration success, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage.

In certain cases, forward-looking statements can be identified by the use of words such as plans, expects or does not expect, is expected, budget, scheduled, estimates, forecasts, intends, anticipates or does not anticipate, or believes, or variations of such words and phrases or statements that certain actions, events or results may, could, would, might or will be taken, occur or be achieved or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others; risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of mineral resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry, as well as those factors detailed from time to time in the Company’s interim and annual financial statements, all of which are filed and available for review on SEDAR at sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Accordingly, readers should not place undue reliance on forward-looking statements.

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APPENDIX 1: Croteau Est - drill table statistics CBSZ

Hole ID	Easting	Northing	Elevati on	Coordinate System	Azimu th	Dip	EOH (m)	From (m)	To (m)	Length (m)	Au (g/t)
CRO11_01	530721.5	5535642.4	373.2	UTM NAD83-Z18	1.7	-45.23	300	10.2	11.2	1	1.44
								19.9	21.9	2	1.84
								29.6	29.9	0.3	4.15
								41.1	45.5	4.4	2.17
								75.5	76.5	1	1.58
								109.8	110.4	0.6	1.71
								114.4	115.4	1	0.56
CRO11_02	530720.5	5535640.4	373.5	UTM NAD83-Z18	0	-60	396	8	9	1	1.03
								24.6	25.2	0.6	0.62
								29.25	30	0.75	0.65
								29.25	31.25	2	0.54
								30.75	31.25	0.5	0.53
								44.75	48.13	3.38	1.13
								52.5	53.5	1	0.67
								54.6	55.3	0.7	0.65
								63	65	2	2.06
								69.25	73.25	4	1.29
								90.3	97.5	7.2	1.43
								103.25	103.8	0.55	3.72
								135.7	139	3.3	0.74
								145	146	1	2.12
CRO11_03	530723.1	5535789.6	374.7	UTM NAD83-Z18	184.1	-43.77	309	82	83	1	0.63
								135	140	5	0.98
								145	148.25	3.25	0.50
								152	153	1	0.51
								163	164	1	0.87
								173	174	1	1.54
								176.35	177.5	1.15	3.09
								193.75	196.75	3	0.62
								199	204	5	1.26
								208.85	211	2.15	2.29
								214	219	5	0.73
CRO11_04	530748.8	5535831.6	371.2	UTM NAD83-Z18	360	-45	396	79	80.4	1.4	1.25
CRO11_05	530719.1	5535543.6	373	UTM NAD83-Z18	1.2	-60.19	351	155.35	156	0.65	0.51
								158.85	159.7	0.85	0.52
								170.15	177.5	7.35	10.24
								179.95	190.5	10.55	10.63
								181.75	187	5.25	20.56
								188.5	190.5	2	1.73
								196	197	1	0.88
								201	202	1	1.79
								214.5	215.25	0.75	1.07
								240.7	245.1	4.4	2.24

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Hole ID	Easting	Northing	Elevati on	Coordinate System	Azimu th	Dip	EOH (m)	From (m)	To (m)	Length (m)	Au (g/t)
								254.2	255.6	1.4	0.69
								286.8	287.5	0.7	0.71
CRO11_06	530663.8	5535626.4	372.6	UTM NAD83-Z18	358.2	-45.6	237	15.55	18	2.45	8.53
								28	38	10	2.88
								31.25	34	2.75	1.23
								35.1	36	0.9	0.70
								37.2	38	0.8	0.56
								42	42.75	0.75	0.81
								48.3	48.8	0.5	7.80
								54.8	55.6	0.8	0.92
								61.75	64.5	2.75	1.59
								71	81.15	10.15	1.34
								84	87.5	3.5	0.72
								118	119.05	1.05	1.88
								121.6	122.3	0.7	0.66
								125.65	126.3	0.65	0.69
								129	130	1	9.64
								143.3	144	0.7	2.46
								173.3	173.7	0.4	0.87
CRO11_07	530663.8	5535626.4	372.6	UTM NAD83-Z18	360	-45	27	12.25	14.7	2.45	1.18
								25	27	2	2.70
CRO11_08	530663.8	5535626.4	373.3	UTM NAD83-Z18	357.4	-60.36	303	18.5	19.1	0.6	0.61
								25	35	10	2.52
								47	51	4	1.47
								56	56.6	0.6	1.06
								78.4	79	0.6	1.64
								84	85.5	1.5	1.89
								94	96	2	1.71
								98.4	101.5	3.1	2.12
								104	104.8	0.8	3.42
								107.9	108.6	0.7	3.34
								117	119	2	2.05
								129	129.6	0.6	0.66
								131.95	132.4	0.45	6.87
								136	137	1	0.96
								139.7	141	1.3	0.75
								144	145	1	0.65
								154.55	155.2	0.65	8.16
								159.7	160.3	0.6	1.64
								163	163.7	0.7	0.82
CRO12_09	530617.8	5535604.4	372.5	UTM NAD83-Z18	358.7	-43.81	201	38	38.75	0.75	1.47
								39.2	39.5	0.3	1.17
								47.55	47.95	0.4	0.73
								66	67	1	0.72
								83	91.75	8.75	0.54

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Hole ID	Easting	Northing	Elevati on	Coordinate System	Azimu th	Dip	EOH (m)	From (m)	To (m)	Length (m)	Au (g/t)
								110	111.7	1.7	1.78
								117	117.95	0.95	1.57
								130	131.15	1.15	3.85
CRO12_10	530617.83	5535604.4	372.6	UTM NAD83-Z18	360	-58.62	278	58	58.8	0.8	9.84
								77.4	81	3.6	1.65
								84.35	85	0.65	0.64
								90.75	110.3	19.55	8.55
								115.2	116	0.8	3.08
								133.55	134.3	0.75	0.72
								164	165	1	0.84
CRO12_11	530564	5535600	371.6	UTM NAD83-Z18	355.1	-45.68	180	74	76	2	1.30
								91	97.6	6.6	1.03
								100	108.3	8.3	2.10
CRO12_12	530564.4	5535600	371.7	UTM NAD83-Z18	359.4	-59.66	267	82	83	1	0.55
								86	87	1	0.95
								93.3	95	1.7	1.68
								102	103	1	1.40
								108	109	1	0.57
								112	119	7	1.88
								125	128	3	0.76
								131	132	1	1.60
								149	151	2	1.36
								178	179	1	0.99
CRO12_13	530771.6	5535603.2	374.1	UTM NAD83-Z18	5	-45.26	201	63.75	64.5	0.75	0.53
								81	82	1	0.71
								93	94	1	0.60
								106	107	1	2.85
								128	129	1	0.69
CRO12_14	530771.6	5535603.2	374.1	UTM NAD83-Z18	4.2	-59.5	306	111	113	2	0.67
								170.6	171.75	1.15	1.98
								194	194.55	0.55	1.61
								220	221	1	0.64
								227	228	1	0.74
								235.2	235.4	0.2	1.40
								274	275	1	2.06
CRO12_15	530822.1	5535600.4	371.6	UTM NAD83-Z18	359.4	-46.46	297	72	73	1	0.60
								76.8	78	1.2	2.63
								85.1	86	0.9	3.61
								96	97	1	0.54
								109	110	1	1.04
CRO12_16	530822.1	5535600.4	371.7	UTM NAD83-Z18	355.1	-60.43	330	10.4	10.9	0.5	2.14
								84.65	85.5	0.85	2.56
								120	122	2	1.19
								166	167	1	1.83

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Hole ID	Easting	Northing	Elevati on	Coordinate System	Azimu th	Dip	EOH (m)	From (m)	To (m)	Length (m)	Au (g/t)
								190	191	1	0.86
								210	213	3	0.75
								218	220.5	2.5	0.61
								228	231.7	3.7	0.66
								244.5	246.1	1.6	2.81
								285	286	1	0.57
CRO12_21	530520.5	5535604	370	UTM NAD83-Z18	360	-45	213	59.15	59.65	0.5	34.50
								67.4	68	0.6	1.82
								71	75	4	0.82
								85	87	2	0.73
								97.6	101.6	4	2.53
								104	105	1	2.25
								115.8	119	3.2	2.93
								128	131	3	2.29
CRO12_22	530520.5	5535604	370	UTM NAD83-Z18	360	-60	273	71	72.55	1.55	6.84
								75.6	76.3	0.7	0.66
								91	92	1	2.90
								97	105	8	1.14
								108.8	109.3	0.5	1.02
								115.8	117	1.2	0.65
								130	132	2	1.62
CRO12_23	530464.32	5535591	370	UTM NAD83-Z18	360	-45	171	56	60	4	1.11
								140.35	141	0.65	2.04
								141.5	142	0.5	4.02
CRO12_24	530464.3	5535591	370	UTM NAD83-Z18	360	-60	252	68	70	2	1.51
								79	79.8	0.8	1.08
								189	189.6	0.6	0.51
								192	192.55	0.55	1.07
CRO12_25	530414	5535600.4	370	UTM NAD83-Z18	360	-45	177	36	37	1	3.54
								143.75	144.5	0.75	5.07
								149	150.12	1.12	1.95
CRO12_26	530414	5535600.4	370	UTM NAD83-Z18	360	-60	252	112	112.7	0.7	1.04
								120	121	1	0.62
								175	176	1	1.61
								180	181.5	1.5	1.31
								199	200	1	0.75
CRO12_29	530665.6	5535536.8	370	UTM NAD83-Z18	357	-60	276	106	107	1	0.80
								117	118	1	0.87
								146	150	4	1.45
								153.6	154.2	0.6	3.59
								171.6	181.35	9.75	3.50
								189	190.5	1.5	3.53
								196.25	201	4.75	1.62
								205.7	206.2	0.5	0.75

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Hole ID	Easting	Northing	Elevati on	Coordinate System	Azimu th	Dip	EOH (m)	From (m)	To (m)	Length (m)	Au (g/t)
								216	218.72	2.72	1.99
								226.7	230	3.3	0.75
								236	238.5	2.5	0.86
CRO12_30	530717.2	5535445.6	373	UTM NAD83-Z18	358.5	-62.81	477	203.6	204.4	0.8	4.72
								314	314.45	0.45	1.13
								333.45	335.5	2.05	1.42
								338.75	343.75	5	0.71
								357	358	1	0.75
								361.35	362	0.65	1.15
								397	414	17	0.94
CRO12_31	530653	5535442.4	372.2	UTM NAD83-Z18	358.4	-66	426	197.1	198	0.9	0.68
								275.4	278.6	3.2	1.29
								280.75	281.4	0.65	0.64
								316.1	335.2	19.1	1.94
								353.6	356.95	3.35	0.82
								367.35	367.95	0.6	0.61
								370	372	2	1.78
								388.35	389.25	0.9	2.17
CRO12_32	530619.8	5535513.6	372.1	UTM NAD83-Z18	1.3	-66.5	336	68	70.5	2.5	0.84
								78.65	80	1.35	0.56
								231	234.4	3.4	1.49
								244	245	1	2.58
								253.65	256.6	2.95	4.54
								268.5	271.25	2.75	1.36
								278.95	279.5	0.55	4.46
								287	288	1	0.66
CRO12_33	530562.6	5535496.6	372.2	UTM NAD83-Z18	1.2	-55.95	345	204.75	206.2	1.45	0.87
								212	213	1	0.60
								267.25	270.35	3.1	3.84
CRO12_34	530823	5535538	371.8	UTM NAD83-Z18	357.9	-60.76	393	72	72.5	0.5	0.55
								156.4	156.7	0.3	5.55
								160.25	167.9	7.65	3.08
								171.85	177	5.15	1.16
								181	188.05	7.05	2.18
								191.3	196.25	4.95	0.59
								198.6	199.3	0.7	1.98
								222.5	233.15	10.65	2.88
								238.55	250.15	11.6	3.17
								305	306	1	1.56
CRO12_35	530820	5535446	372.6	UTM NAD83-Z18	3	-60	441	33	34	1	0.64
								282.25	284.7	2.45	0.90
								287.75	288.3	0.55	0.69
								294	299	5	0.73
								331	331.55	0.55	0.50

12

Hole ID	Easting	Northing	Elevati on	Coordinate System	Azimu th	Dip	EOH (m)	From (m)	To (m)	Length (m)	Au (g/t)
								353	353.4	0.4	49.40
								359	360	1	0.59
								367	370	3	1.36
CRO12_36	530717.8	5535259	372.7	UTM NAD83-Z18	5.2	-67.38	657	141.4	142.4	1	0.76
								281.75	282.5	0.75	0.69
								286.8	287.25	0.45	0.71
								517.6	519	1.4	0.63
								528.95	530.25	1.3	1.40
								533	535.25	2.25	0.79
								540.25	542.25	2	4.47
								545.4	549.75	4.35	2.96
								558	566	8	1.51
								570	570.75	0.75	0.78
								582.75	586.25	3.5	0.95
CRO12_37	530770	5535524	377	UTM NAD83-Z18	1	-61	362.4	201.8	202.25	0.45	0.64
								211	213	2	0.65
								215.25	215.65	0.4	1.12
								216.5	217.15	0.65	1.06
								224	225	1	0.55
								227	228	1	0.84
								230.9	231.35	0.45	0.89
								262	270.75	8.75	1.36
								300	301	1	0.95
CRO12_38	530866	5535539.6	378.4	UTM NAD83-Z18	4.3	-58.28	339.8	139.7	140.55	0.85	2.91
								151	152	1	0.80
								162	164.2	2.2	0.62
								167	167.6	0.6	0.93
								171	172	1	0.65
								186	187.25	1.25	1.85
								194	195	1	4.20
								206	214.8	8.8	2.74
								220	231	11	1.19
								236	243	7	0.72
								285.6	286.3	0.7	0.63
CRO12_39	530569	5535416	373.8	UTM NAD83-Z18	358.8	-58.43	406	43.37	43.72	0.35	23.50
								277	278	1	0.57
								359.43	361.7	2.27	1.57
CRO12_41	530915.6	5535532	376.3	UTM NAD83-Z18	358.6	-58.19	346	153.35	155.2	1.85	28.04
								170.35	180	9.65	1.78
								185.7	199.5	13.8	0.93
								207.45	220	12.55	2.29
								223.5	227	3.5	1.66
								232	235.2	3.2	0.93
								240	246	6	0.94
								249	250.2	1.2	1.77

13

Hole ID	Easting	Northing	Elevati on	Coordinate System	Azimu th	Dip	EOH (m)	From (m)	To (m)	Length (m)	Au (g/t)
								253	259	6	0.86
								263.7	264.45	0.75	0.54
								268.65	270.65	2	1.96
								273	273.5	0.5	0.74
								275.5	276.1	0.6	1.47
								284	287	3	0.77
								301.5	305.75	4.25	1.09
CRO12_42	530519.3	5535455.6	373.1	UTM NAD83-Z18	0.4	-59.71	400	258	260	2	0.90
								276.45	278.2	1.75	6.53
								305.32	307.63	2.31	2.28
								358	358.5	0.5	1.06
								361	362	1	1.95
CRO12_43	530970.9	5535538.4	372.5	UTM NAD83-Z18	1.5	-60.13	444	175.55	178.55	3	0.86
								200.7	205.7	5	1.87
								209.7	211.7	2	1.73
								216.9	221.4	4.5	0.76
								226.4	227.2	0.8	0.59
								246.85	247.36	0.51	1.82
								327.5	328.5	1	0.55
								332.2	338.7	6.5	0.61
CRO12_44	530519.3	5535455.6	373.1	UTM NAD83-Z18	0.9	-45.68	340	222.3	222.73	0.43	0.64
								223.7	224.7	1	0.53
								231.5	233.5	2	2.03
								304	306.38	2.38	1.11
CRO12_45	530916.5	5535461.6	373.8	UTM NAD83-Z18	356.6	-56.84	512	262	267.4	5.4	1.38
								293	294.07	1.07	0.71
								298	299	1	2.85
								303	304	1	0.69
								318	319	1	1.81
								354	355	1	4.13
								400.88	401.88	1	0.65
								426	427.8	1.8	1.86
CRO12_46	531023.8	5535537.6	374.2	UTM NAD83-Z18	0.4	-59.51	478.2	152	155	3	1.52
								165.5	166	0.5	0.52
								168.7	172	3.3	0.87
								216.9	217.75	0.85	3.34
								221.57	226.8	5.23	1.23
								228.9	229.55	0.65	4.51
								240.65	247.5	6.85	21.32
								252.35	253.55	1.2	1.05
								274	275	1	1.17
								283.9	291	7.1	2.15
								294	295	1	1.50
								299.75	301	1.25	1.03
								305.5	306.5	1	1.00

14

Hole ID	Easting	Northing	Elevati on	Coordinate System	Azimu th	Dip	EOH (m)	From (m)	To (m)	Length (m)	Au (g/t)
								310	317	7	0.57
								339	340	1	1.37
								343.5	344.5	1	0.54
								351.5	352.1	0.6	1.04
								457.3	458	0.7	0.58
CRO12_47	531026.8	5535434	375.4	UTM NAD83-Z18	2.8	-58.02	436	331	334	3	2.14
								348.2	349	0.8	2.45
								359.26	360.18	0.92	0.80
CRO12_48	531069.8	5535534.4	374.3	UTM NAD83-Z18	3.1	-57.5	421	153.3	153.7	0.4	1.44
								157	159	2	1.46
								161.1	162	0.9	1.92
								165.8	168.35	2.55	1.44
								170.75	171.8	1.05	3.90
								245	247	2	1.79
								265.7	266.7	1	3.91
								274.5	275.1	0.6	0.62
								284.6	285.4	0.8	2.06
								291.9	292.9	1	2.39
								297.6	298.6	1	0.59
								363.25	364	0.75	1.24
CRO12_49	531116.4	5535532	377	UTM NAD83-Z18	0.6	-58.46	433	205.4	206.1	0.7	0.92
								270.4	273	2.6	9.49
								283.5	284	0.5	3.05
								288	288.6	0.6	0.66
								294	294.65	0.65	0.74
								298	299	1	0.71
								304.6	305.1	0.5	0.53
								307	307.75	0.75	0.85
								313.35	314	0.65	10.55
								334	334.8	0.8	0.57
								343.8	345.15	1.35	1.46
								355.4	356	0.6	1.10
								357.5	358	0.5	0.91
CRO12_50	531122.9	5535427.2	378.7	UTM NAD83-Z18	4.7	-58.27	523	487.6	487.9	0.3	2.12
								494.2	497.2	3	2.61
CRO12_51	531169.3	5535528.4	374.8	UTM NAD83-Z18	359.7	-56.68	421	319	323	4	1.32
								330	336	6	0.69
								361	364.65	3.65	0.89
								370.75	371.3	0.55	0.60
								375.9	382	6.1	0.62
								384.15	386	1.85	0.75
CRO12_53	531270.1	5535546.6	377.8	UTM NAD83-Z18	2.7	-51.67	387	312.8	313.2	0.4	1.38
CRO12_54	530924	5535261.6	375.2	UTM NAD83-Z18	5.7	-65.84	793	526.8	527.8	1	0.62
								531.8	532.2	0.4	0.74

15

Hole ID	Easting	Northing	Elevati on	Coordinate System	Azimu th	Dip	EOH (m)	From (m)	To (m)	Length (m)	Au (g/t)
								537.2	540.9	3.7	2.74
								551.5	554.5	3	0.91
								589.6	589.9	0.3	1.07
								598.9	600	1.1	1.51
								621.7	622	0.3	0.72
								657	665	8	0.60
								672.4	673.2	0.8	0.93
								674.4	675.4	1	0.50
								679.7	685	5.3	4.19
								730.6	733.2	2.6	8.71
CRO12_55	531371.5	5535633.6	372.6	UTM NAD83-Z18	4.2	-51.8	475	106.65	107.25	0.6	5.76
CRO13_56	530870	5535600	370	UTM NAD83-Z18	360	-51	249.7	28.5	29.4	0.9	8.25
								38	38.55	0.55	0.82
								43.65	44.55	0.9	0.57
								52.1	53.7	1.6	0.54
								57.5	58.25	0.75	0.94
								92	93	1	1.18
								126.5	128.7	2.2	2.34
								142.65	143.55	0.9	0.61
								213.7	214.7	1	0.98
CRO13_57	530920	5535600	370	UTM NAD83-Z18	360	-51	262	79.2	85	5.8	0.75
								88.5	91.6	3.1	0.82
								123	124	1	2.19
								131	131.5	0.5	1.22
								134	135	1	0.52
								154	155	1	3.36
								160	160.9	0.9	0.54
								165	168	3	0.90
								173	173.7	0.7	1.72
								227.8	228.3	0.5	1.20
								250	251	1	0.85
								255	256	1	5.32
CRO13_58	531025	5535625	370	UTM NAD83-Z18	360	-51	250	29	29.5	0.5	1.02
								32.1	36	3.9	0.64
								39	40	1	0.53
								43.35	44	0.65	0.83
								51.8	52.85	1.05	2.31
								57.75	61	3.25	0.78
								111	112.3	1.3	2.27
								122	124.55	2.55	0.54
								131	131.75	0.75	0.52
								139.9	141.25	1.35	1.62
								216.7	217.8	1.1	0.91
CRO13_60	530520	5535400	370	UTM NAD83-Z18	360	-45	75	67	68	1	0.58

16

Hole ID	Easting	Northing	Elevati on	Coordinate System	Azimu th	Dip	EOH (m)	From (m)	To (m)	Length (m)	Au (g/t)
CRO13_61	530470	5535400	370	UTM NAD83-Z18	360	-45	84	25.2	26	0.8	2.77
CRO13_62	530420	5535400	370	UTM NAD83-Z18	360	-45	102	27.8	29.4	1.6	0.57
								33.8	34.4	0.6	0.64
								38	38.55	0.55	5.63

17

APPENDIX 2: JORC Table - Croteau Est Project

Section 1 - Sampling Techniques and Data – Diamond Drilling

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling techniques	 Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.  Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.  Aspects of the determination of mineralisation that are Material to the Public Report.  In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	 Diamond drilling was used to obtain a continuous core from the overburden bedrock interface to a final end of hole depth which was based on the geology intersected.  Intervals of recovered core selected for analysis were identified based on geological criteria including a combination of lithology, alteration assemblage and or the presence of sulphides. Sample intervals were predominately 1.0m in length, but ranged from 0.3 to 1.5m. Each interval was preceded and followed by 1.0- 2.0m shoulder samples extending out beyond the interval of interest.  The core selected for sampling was split and samples of half core were dispatched to an ISO17001 certified commercial laboratory for preparation and analysis of gold according to industry standard practises.
Drilling techniques	 Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what _method, etc). _	 Drilling was NQ (47mm) diamond core using a LF 70 diamond drill rig.  Drill core was not oriented.
Drill sample recovery	 Method of recording and assessing core and chip sample recoveries and results assessed.	 Diamond drillhole core recoveries and RQD are logged. Recoveries are generally good with majority >95%.
	 Measures taken to maximise sample recovery and ensure representative nature of the samples.	 Based on the drilling method being diamond core and the high core recoveries the sampling is representative.
	 Whether a relationship exists between sample recovery and	 Whilst no assessment has been undertaken the competencyof the core would tend topreclude any

18

Criteria	JORC Code explanation	Commentary
	grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	potential issue of sampling bias.
Logging	 Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	 Geological logging of major characteristics such as rock type, alteration, sulphide abundance etc is conducted in detail. Basic geotechnical logging including RQD and orientation of structures (faults, veins, bedding etc) is also undertaken.  The geological and geotechnical logging is at an appropriate level for the stage of exploration being undertaken.
	 Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	 The logging of the geological features was predominately qualitative. Parameters such as sulphide abundances are visual estimates by the logging geologist.  Core is photographed after metre marks and sample intervals have been clearly marked on the core. The core wasphotographed both dryand wet.
	 The total length and percentage of the relevant intersections logged.	 The entire length of all holes, excluding any surface casing was logged.
Sub-sampling techniques and sample preparation	 If core, whether cut or sawn and whether quarter, half or all core taken.	 Core was cut longitudinally with a masonry saw and a half core sampled for analysis, the residual half core being retained in the core box for reference.
	 If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry	 Not applicable.
	 For all sample types, the nature, quality and appropriateness of the samplepreparation technique.	 The splitting of core by masonry saw is an appropriate sample technique.
	 Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	 Documented procedures are in place to ensure that core is sampled systematically and the same methodology is applied to each sample and every drilling campaign.
	 Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field _duplicate/second-half sampling. _	 Duplicate coarse reject samples are submitted with each sample submission at a ratio of 1:8.
	 Whether sample sizes are appropriate to the grain size of the material being sampled.	 The sample sizes are considered appropriate given that visible gold is rare and assay results have not flagged a serious coarse gold issue.
Quality of assay data and laboratory tests	 The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	 Samples are submitted for preparation and gold analysis to an accredited lab, ALS Canada in Sudbury, Ontario for analysis by fire assay. Sample preparation comprised: (i) drying for a minimum of 8 hours, (ii) mill crushing to -80#, (iii) riffle splitting to approximately 250g, (iv) disk pulverizing of subsample to 90% passing - 150#. (v) sample is then split to 30g for analysis, by fire assayand determination byatomic absorption. The

19

Criteria	JORC Code explanation	Commentary
		detection limits are 5 ppb (lower) and 3000ppb (upper).  Above detection are re-analyzed by fire assay and gravimetric determination. The detection limits are 0.03ppm (lower) and 10,000ppm (upper).  For intervals reporting high grade gold values (>10.0 g/t Au), either by atomic absorption and/or gravimetric methods, the samples are re-analyzed by screen metallic assay.  The analysis technique is considered total and is appropriate for the determination of the level of gold anticipated.
	 For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	 Not applicable.
	 Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	 At this stage of the prospect’s evaluation, QC procedures involve a review of laboratory supplied internal QA/QC and in house controls, including routinely inserting appropriate grade commercial certified reference standards (CDN Resource Labs Ltd), samples of “barren” material (Uncertified Blanks) and coarse reject duplicate samples (averaging 1 standard, 1 blank and 1 duplicate randomly inserted per 8 samples submitted).
Verification of sampling and assaying	 The verification of significant intersections by either independent or alternative company personnel.	 The significant intersections have been reviewed by the Exploration Manager.
	 The use of twinned holes.	 Not applicable.
	 Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. 	 Primary data was recorded on laptop computers directly into Geotic drillhole logging software. This information is merged with the assay certificate data into an in-house database system managed internally.
	 Discuss any adjustment to assay data.	 There was no adjustment of assay data.
Location of data points	 Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	 Drill collar locations coordinates were surveyed using a handheld Garmin CSx-60 GPS unit with a positional accuracy on the order of ± 3 m. The foresights for each drillhole collar were installed using either a Sylva or Brunton compass compensated for variations in the local magnetic declination (16° east).  Downhole surveys were conducted using a Reflex EZ- Shot single shot camera at nominal 50m intervals down-hole.
	 Specification of the grid system used.	 The grid system is UTM_NAD83, Zone 18N.
	 Quality and adequacy of topographic control.	 Topographic control is taken from 1984 NTS mapsheets 32G-15. 32G-16, 32J-1 & 32J-2, supplemented by a Digital Elevation Model(DEM) provided byan

20

Criteria	JORC Code explanation	Commentary
		aeromagnetic survey flown in 2012.
Data spacing and distribution	 Data spacing for reporting of Exploration Results.	 The drill hole spacing for the CBSZ prospect is a nominal 60m x 100m (refer to figures in main text).
	 Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	 The drilling undertaken was exploratory in nature and no mineralized geological domains have been defined to support the definition of Mineral Resources.
	 Whether sample compositing has been applied.	 No compositing has been applied.
Orientation of data in relation to geological structure	 Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	 Drilling was oriented perpendicular to mineralised structure as defined by surface mapping and trenching. For this early stage of exploratory drilling in this manner is acceptable to provide initial geological control and intersect potential mineralization.  Given the relatively limited drilling to date it is uncertain at this stage if the drilling orientation produced biased sampling.
	 If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	 At this stage no orientation based sampling bias has been identified.
Sample security	 The measures taken to ensure sample security.	 The core samples are placed in jute sacks, which are secured with one-time-use teflon tie-wraps. A sample manifest is prepared by Northern Superior’s geologist(s) for each batch (200-300) of samples for delivery directly to the assay lab. The manifest lists the number and numerical sequence of samples in each consignment, as well as the analyses required to be performed by the lab for each sample consignment.  The samples are kept in the core shack under lock and key until a door-to-door courier delivers the samples to the assay lab.  Upon arrival at the laboratory, personnel verify the sample submission list and confirm receipt of samples, notify if any security ties or sacks are not intact and if there are additional or missing samples to those indicated on the sample submission sheet.
Audits or reviews	 The results of any audits or reviews of sampling techniques and data.	 No audit or review of the sampling techniques and data for this release has been carried out

21

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	 Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.	 The project area comprises two blocks of claims – Croteau Est and Waconichi.  The Croteau Est property consists of a contiguous block of 109 claims which encompass an area of 3,856 hectares within Barlow and McKenzie townships in north-central Québec. The core group of the claims were acquired in July 2011 when Northern Superior Resources signed a letter of intent with GL Géoservices Inc. and Marc Bouchard of Chapais, Québec who granted Northern Superior an option to acquire a 100% interest in the property. The Optionors retain a 1.0% NSR on any future commercial production from the property, with Northern Superior having the right to buy back 0.5% of the NSR for $1.5 million at any time. The property is otherwise unencumbered.  The Waconichi property, which adjoins the Croteau property to the north and east, consists of three claim blocks totalling 213 CDC or_claim designé sur carte_, encompassing an area of 8,316 ha. In May 2013, Northern Superior acquired a 100% interest in the claims from Murgor Resources Inc. by a cash payment of $225,000. Murgor retains a 1% NSR over each of the claims except for the “Charbonneau Claims” (7 claims, approximately 387 hectares), wherein a 2% NSR is stipulated, with Northern Superior having the right to buy-back the 1% for $1,000,000 and also retaining the right of first refusal to purchase the remaining 1%. Northern Superior also has the option at any time to re- purchase 0.5% of the Murgor NSR royalty by payment of $1,000,000. Thepropertyis otherwise unencumbered.
	 The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	 The various claims are in good standing and no known impediments exist to continued exploration.
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	 The Croteau Est gold showing was first discovered in 1935, with limited trenching completed at that time.  Commencing in the 1950’s, various companies undertook extensive exploration programs targeting both gold and base metals, with drilling conducted at various gold showings including Croteau Est, Tadd & Lac Chevrillon as well as some base metal geophysical targets.  Ground and airborne EM, IP, aeromagnetics, trenching, soil and till sampling have been conducted over various parts of the project area by several previous explorers.  Several gold showings have been identified by this work, mostly associated with major shears such as the Faribault and Croteau-Bouchard systems.  Currently the most promising prospect identified from historical and Northern Superior work is the Croteau Est prospect and its possible extensions or repetitions along the CBSZ.

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Criteria	JORC Code explanation	Commentary
Geology	 Deposit type, geological setting and style of mineralisation.	 The Croteau Est project setting is an Archaean granite- greenstone terrane situated in the northeast corner of the Matagami-Chibougamau Greenstone Belt (MCGB) of the Abitibi Subprovince of the Archean Superior Province, north-central Québec .  The MCGB consists of two Archean age mafic to felsic volcanic cycles (Roy Group) unconformably overlain by the Opémisca Group volcano-sedimentary sequence. The volcanics and associated sediments are intruded by a series of large granitoid plutons and septa of probable basement.  Gold mineralization in the main CBSZ prospect comprises gold bearing sericite-carbonate-pyrite quartz vein stockwork mineralization hosted by intensely sheared and carbonatised mafic volcanics.
Drill hole Information	 A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length.  If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	 Refer to tabulations in the main text and Appendices for detailed summaries of drillholes and significant intersections.
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.	 No averaging techniques or truncations were used. A 0.5g/t lower cut-off has been applied when reporting significant intersections.
	 Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail	 Not applicable.
	 The assumptions used for any reporting of metal equivalent values should be clearly stated.	 Not applicable.

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Criteria	JORC Code explanation	Commentary
Relationship between mineralisation widths and intercept lengths	 These relationships are particularly important in the reporting of Exploration Results.  If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true _width not known’). _	 Down hole lengths have been reported, true widths not known.
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	 Refer to figures and tabulations in the main text and Appendices.
Balanced reporting	 Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	 A summary of analytical results based on a 0.5g/t lower cut-off has been reported for all drill holes.
Other substantive exploration data	 Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	 32 trenches with a cumulative area of 8,860 m2 were excavated, mapped and channel sampled on the property by Northern Superior.  A 1,271 line-kilometre heli-borne total magnetic field and gradient survey on 100 m spaced lines has been flown, with the data used to better define the regional geology, particularly the structural architecture.  Follow-up ground mag (42.2 line-km) and 35.9 line-km of pole-dipole ground IP survey were conducted on a series of handcut grids (47.8 line-km) emplaced across the Croteau-Bouchard and Croteau North shear zones on the property.  The drilling was augmented by a diverse variety of geochemical (till sampling: 382 samples; MMI sampling: 687 samples; soil gas sampling: 854 samples), borehole spectral IP surveys (12 drillholes), structural geological studies, detailed mapping of trenches and petrographic studies.  142 reverse circulation drillholes (1,665 m) were completed in a 46 km2 area on the Croteau and Waconichi properties on a series of staggered drillhole fences oriented perpendicular to the dispersion of Wisconsin glacial sediments to determine the presence of gold and/or base metal mineralized dispersion trains originating from one or more areas on the property (as detailed in Table 1b).  This work highlighted gold prospects at the Grobo showingand Croteau Trench 5 for follow up.

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Criteria	JORC Code explanation	Commentary
		 Baseline water quality sampling has commenced.
Further work	 The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).  Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	 Future work programs are being assessed with a view to in-fill and extension drilling at CBSZ and other high priority areas.

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APPENDIX 3: CBSZ Trench Significant Assays

	Northing	Easting	g/t Au
			4 m@0.36g/t
			0.70m@1.54g/t
			16.50m@2.46g/t
Tr-01	5535697	530705	incl. 3.7m@3.11g/t
			incl. 5.2m@5.06g/t
			14.2m@1.76g/t
Tr-02	5535690	530939	NSI
Tr-03	5535664	530793	5.05m@2.49g/t
			6.05m@16.67g/t
			1.00m@1.46g/t
Tr-04	5535702	530615	1m@1.19g/t
TR-05	5535635	530655	0.7m@4.03g/t
			0.4m@1.53g/t
			6.7m@5.58g/t
			1.7m@4.01g/t
			3.9m@6.26g/t
			4.85m@1.59g/t
			4.80m@9.53g/t
			2.40m@3.12g/t
			4.90m@2.93g/t
	NAD83 Zone18

UTM co-ordinate represents centre point of each trench.

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