AI assistant
CHALICE MINING LIMITED — Interim / Quarterly Report 2015
Jan 29, 2015
64649_rns_2015-01-29_d9cca2d3-fc36-4fdd-9ca3-0612c1d82e8b.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
ABN 47 116 648 956
ASX Announcement
30 January 2015
December 2014 Quarterly Report
Chalice to assess Cameron Gold Project as gold consolidation and growth strategy advances
Highlights:
-
In light of increasing gold prices, Chalice has decided to commence preparation of a Preliminary Economic Assessment (PEA) for the Cameron Gold Project in Ontario, Canada.
-
The PEA is expected to be completed this Quarter , laying the foundations for possible feasibility studies.
-
Business development and exploration activities continued in Canada and North America, where Chalice is aiming to consolidate its position at the Cameron Gold Project and secure additional high-potential opportunities.
-
Near-mine targeting exercise completed at Cameron which will form the basis of the 2015 exploration program, aimed at increasing ounces and enhancing project economics .
-
Chalice’s balance sheet remains strong with cash of A$42.7M at 31 December 2014.
Overview :
During the December Quarter, Chalice Gold Mines Limited (ASX: CHN, TSX: CXN – “Chalice” or “the Company”) continued both business development and exploration activities in Canada, where the Company is currently focusing on advancing the Cameron Gold Project (“Cameron”), consolidating its strategic position around Cameron, and targeting additional high-potential opportunities.
1. Cameron Gold Project
The Cameron Gold Project (Figure 1) represents an advanced resource project located in the highly mineralised southern part of western Ontario in Canada, approximately 80km south-east of the town of Kenora. The Project has a number of attractive attributes, including good grades (diluted open pit grade of 2g/t Au – Measured and Indicated Resource of 675,900oz plus Inferred Resources of 591,300oz) (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.
Cameron Gold Project Preliminary Economic Assessment (PEA)
With an increasing Canadian dollar gold price (which has risen recently from a six month low of C$1,305/oz to a current price of approximately C$1,600/oz), the Company has determined that it is now an opportune time for Chalice to commence the preparation of a Preliminary Economic Assessment (“PEA”) for Cameron as a prelude to possible further feasibility studies.
A PEA was prepared by previous owners, Coventry Resources Inc., in January 2013 which confirmed favourable economics at that time. With an improving gold price, declining costs across the industry, and other opportunities which have been identified to further improve the Project’s economics, the Company looks forward to receiving the results of the PEA in April 2015.
Exploration Activities
During the Quarter, Chalice has undertaken a disciplined target generation and ranking exercise to determine its next phase of exploration at Cameron with the aim of increasing near-mine (within a 25km trucking distance) open pittable ounces which have the potential to materially impact on the economics of the project.
Chalice Gold Mines Limited, Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 F: +618 9322 5800 E: [email protected]
www.chalicegold.com
==> picture [521 x 20] intentionally omitted <==
During the last 12 months, Chalice has been conducting active exploration programs at Cameron, including:
-
Drilling at the Juno, Jupiter and Ajax prospects;
-
Acquisition, processing and interpretation of 1,457 line kilometres of Versatile Time Domain Electromagnetics (“VTEM”) and 2,143 line kilometres of detailed aeromagnetics (Figure 2);
-
Completing an extensive Mobile Metal Ion (“MMI”) program including collection, analysis and interpretation results of 3,267 MMI samples (Figure: 3);
-
Field checking of a number of opportunities in the project vicinity including identified VTEM anomalies (Figure 4);
-
Open file compilation of historical exploration data for Cameron and the surrounding area; and
-
Staking or optioning an additional 152km[2] of claims, taking the total area at Cameron to 327.56km[2] representing an increase of 87% (Figure 2, 3 & 4).
During the Quarter, a target and budgeting exercise was undertaken combining all of the results and data from the exploration programs outlined above. This exercise has highlighted many targets, however 10 targets have been prioritised for further review and likely follow-up in 2015. Follow-up programs are being planned and budgeted in detail, and are likely to include trenching, mapping, channel sampling and, where warranted, drilling.
In addition, areas of known mineralisation and previous drilling are being reviewed as potential sources of additional ore in and around Cameron.
==> picture [305 x 340] intentionally omitted <==
Figure 1: The Cameron Gold Project
2
==> picture [391 x 332] intentionally omitted <==
Figure 2: The Cameron Gold Project – Aeromagnetic Targets
==> picture [389 x 330] intentionally omitted <==
Figure 3: The Cameron Gold Project – MMI Survey
3
==> picture [390 x 331] intentionally omitted <==
Figure 4: The Cameron Gold Project – VTEM anomalies
| 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
4
2. Rainy River Project
Chalice acquired an extensive group of claims in the Rainy River area as part of the Coventry acquisition in 2014. The claims have had a number of campaigns of till sampling which identified low-order anomalies. A total of 303 MMI samples were completed over several of the till anomalies during the Quarter, resulting in a single coherent gold anomaly at Conqueror (Figure 5). A drill campaign is planned over this target in the first Quarter of 2015.
==> picture [479 x 339] intentionally omitted <==
----- Start of picture text -----
Conqueror Anomaly
----- End of picture text -----
Figure 5. Rainy River claims on reduced to the pole (RTP) aeromagnetic image. The Conqueror anomaly is highlighted
The information in this report that relates to Exploration Results in relation to the Cameron Gold Project is based on information compiled by Mr Gary Snow, 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 in the field of activity being reported to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Minerals 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 release of information in the form and context in which it appears here.
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.
5
3. GeoCrystal Limited (24% equity interest in GeoCrystal; 36% if all options are exercised) – Webb Diamond Project
Chalice has a 24% interest (with share options to increase its interest to 36%) in unlisted diamond explorer, GeoCrystal Ltd (“GeoCrystal”). GeoCrystal is exploring the Webb Diamond Project under a joint venture with ASX-listed explorer Meteoric Resources Ltd (“Meteoric”).
GeoCrystal has advised Chalice that, during the December Quarter:
-
GeoCrystal earned 70% of Meteoric’s interest in the Webb diamond project by completing expenditure of $2 million;
-
Loam sampling during the September Quarter identified a significant cluster of microdiamonds in the northeastern part of the main project area;
-
The 2014 RC drill program, comprising 48 holes and totalling 6,056m, was completed by GeoCrystal. This program tested 48 targets, of which 40 have been interpreted to be kimberlite, bringing the total number of kimberlite bodies confirmed to date to 50; and
-
Kimberlite samples from the 2014 program continue to be processed for microdiamonds and indicator minerals. Results of this work will be released upon compilation and interpretation of all the relevant laboratory reports, anticipated to be in the March 2015 Quarter.
4. Eritrea Closure
As part of an orderly exit from exploration activities in Eritrea, the remaining plant and equipment owned by the Mogoraib North Joint Venture (Chalice 60%: ENAMCO 40%) has been sold and funds of $449,000 have been received (Chalice share).
5. Balagundi Project
During the Quarter, Chalice entered into an exploration Joint Venture with Alphabrass Resources Pty Ltd (“Alphabrass”) targeting Archaean volcanogenic massive sulphide (VMS) mineralisation. Drilling commenced and was completed in December 2014 with a minimum commitment of 1,200m under the terms of the agreement. The results were not compelling and in January 2015 Chalice notified Alphabrass of its intention to withdraw from the agreement.
6. Minimum Holding Share Buy-back
During the Quarter, Chalice completed a minimum holding buy-back of ordinary shares from holders of unmarketable parcels of shares in the Company. Of the eligible parcels held at the record date, a total of 1,780,917 ordinary shares have been acquired and cancelled at a price of 11.5 cents per share.
7. Share Buy-back
In the March 2014 Quarter, Chalice announced an on-market share buyback of up to 25,073,088 ordinary shares as part of a capital management plan over the next 12 months.
During the December Quarter, Chalice acquired 3,000,000 shares at an average price of 10 cents per share for a total of approximately $300,000. 13,036,591 shares have been acquired to date under the buy-back. At the end of December 2014, the total maximum remaining shares that can be acquired under the 10%/12 month rule is 12,036,497.
As at 31 December 2014, the issued capital of the Company is 282,710,802.
Chalice will continue to assess the merits of this capital management initiative as market conditions evolve.
8. Tenement schedules
In accordance with ASX Listing Rule 5.3, please refer to Appendix 1 for listing of tenements.
6
9. Discussion on Quarterly Cash flow
Chalice’s cash reserves were A$42.7 million as at 31 December 2014.
During the Quarter, the Company spent $0.8 million (YTD: $1.6 million) on exploration and evaluation activities, $1 million (YTD: $1.3 million) on administration and overhead costs (which includes $0.5 million in redundancy and termination payments) and $0.4 million (YTD: $0.9 million) on business development activities. The impact of foreign exchange rates on the Company’s USD cash balances was a favourable movement of $1.5 million for the Quarter.
Further details are available in the attached Appendix 5B.
==> picture [110 x 56] intentionally omitted <==
TIM GOYDER Managing Director 30 January 2015
For further information, please contact: For media inquiries, please contact: Tim Goyder, Managing Director Nicholas Read Chalice Gold Mines Limited Read Corporate Telephone +61 9322 3960 Telephone: +618 9388 1474
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 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.
7
Appendix 1 – Tenement schedules
The following information is provided in accordance with ASX Listing Rule 5.3 for the quarter ended 31 December 2014:
1. Listing of tenements held:
| Location | Project | Tenement No. |
Registered Holder | Nature of interest |
|---|---|---|---|---|
| Australia | Gnaweeda | E51/0926 | Chalice Gold Mines Limited and Teck Australia PtyLtd |
12.03% |
| E51/0927 | Chalice Gold Mines Limited and Teck Australia PtyLtd |
12.03% | ||
| Balagundi | E27/429 | Alphabrass Resources Pty Ltd | 0% - right to earn a 70% participating interest in the Balagundi joint venture. |
|
| E27/341 | Alphabrass Resources Pty Ltd | 0% - right to earn a 70% participating interest in the Balagundi joint venture. |
||
| Canada | Refer Appendix 2. |
2. Listing of tenements acquired (directly or beneficially) during the quarter:
| Location | Project | Tenement No. | Registered Holder | Nature of Interest |
|---|---|---|---|---|
| Australia | Balagundi | E27/429 | Alphabrass Resources Pty Ltd | 0% - right to earn a 70% participating interest in the Balagundi joint venture. |
| E27/341 | Alphabrass Resources Pty Ltd | 0% - right to earn a 70% participating interest in the Balagundi joint venture. |
||
| Canada | Refer Appendix 3. |
3. Tenements relinquished, reduced or lapsed (directly or beneficially) during the quarter:
| Location | Project | Tenement Type | Tenement No. |
Registered Holder | Nature of Interest |
|---|---|---|---|---|---|
| Canada | Rainy River |
Claim | 4274467 | Coventry Rainy River Inc. | 100% |
| Claim | 4274468 | Coventry Rainy River Inc. | 100% | ||
| Claim | 4274469 | Coventry Rainy River Inc. | 100% | ||
| Claim | 4274460 | Coventry Rainy River Inc. | 100% | ||
| Eritrea | Mogoraib North |
Exploration Licence | Sub-Sahara Resources (Eritrea) Pty Ltd |
60% |
8
Appendix 2 - Tenements held (Canada)
| Project | Tenement Type | Patent, PIN Number | Claim Number | Registered Holder | Percentage Ownership |
|---|---|---|---|---|---|
| Cameron | MiningLease | 108400 | CLM305. Claim K465069-K465075, K465351-K465358, K519950- K519965,K561022-K561025,K666295 |
Cameron Gold Operations Ltd | 100% |
| Cameron | MiningLease | 108400 | CLM306, Claim K386816-K386818, K386888-K386900, K533901- K533908,K666294 |
Cameron Gold Operations Ltd | 100% |
| West Cedar | MiningLease | 107495 | K314926,K351875-K351876,K314928-K314931,K273821 | Cameron Gold Operations Ltd | 100% |
| Cameron | Patented miningclaim | PA8441,42185-0720(LT) | K2766 | Cameron Gold Operations Ltd | 100% |
| Cameron | Patented miningclaim | PA8442,42185-0722(LT) | K2767 | Cameron Gold Operations Ltd | 100% |
| Cameron | Patented miningclaim | PA8443,42185-0724(LT) | K2768 | Cameron Gold Operations Ltd | 100% |
| Cameron | Patented miningclaim | PA9901,42185-0726(LT) | K4712 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0208(LT) | K9990 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0586(LT) | K9991 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0585(LT) | K9992 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0577(LT) | K9993 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0587(LT) | K9994 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0578(LT) | K9995 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0588(LT) | K9996 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0579(LT) | K9997 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0581(LT) | K9999 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0807(LT) | K10000 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0583(LT) | K10010 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0584(LT) | K10011 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0580(LT) | K10058 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0796(LT) | K10024 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0799(LT) | K10025 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0801(LT) | K10026 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0803(LT) | K10027 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0593(LT) | K10028 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0594(LT) | K10029 | Cameron Gold Operations Ltd | 100% |
| West Cedar | Patented miningclaim | 42185-0595(LT) | K10030 | Cameron Gold Operations Ltd | 100% |
| Cameron | MLO | 10384 | K4709 | Cameron Gold Operations Ltd | 100% |
| Cameron | MLO | 10405 | K4711 | Cameron Gold Operations Ltd | 100% |
| Cameron | MLO | 10406 | K4710 | Cameron Gold Operations Ltd | 100% |
| Cameron | MLO | 10407 | K4712 | Cameron Gold Operations Ltd | 100% |
9
| Project | Tenement Type | Patent, PIN Number | Claim Number | Registered Holder | Percentage Ownership |
| Cameron | MLO | 3366 | K2767 | Cameron Gold Operations Ltd | 100% |
| Cameron | MLO | 3367 | K2768 | Cameron Gold Operations Ltd | 100% |
| West Cedar | MLO | 11143 | K9990,K9992,K9993,K9996,K9999,K10000,K10011,K10058 | Cameron Gold Operations Ltd | 100% |
| Cameron | Claim | 1105444 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1105445 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1161574 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1161575 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210120 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210121 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210122 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210123 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210124 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210125 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210126 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210128 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210129 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210130 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210131 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210132 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210133 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210134 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210135 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 1210136 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4254297 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258281 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258282 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258283 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258284 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258285 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258286 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258287 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258288 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258289 | Cameron Gold Operations Ltd | 100% |
10
| Project | Tenement Type | Patent, PIN Number | Claim Number | Registered Holder | Percentage Ownership |
| Cameron | Claim | 4258290 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258291 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258292 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258421 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258422 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258423 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258424 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258425 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258426 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258427 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258428 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258429 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258430 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258431 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258432 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258433 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258434 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258435 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258436 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258437 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258438 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258439 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258440 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258441 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258442 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258443 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258444 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258445 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258446 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258447 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258448 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258449 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4258450 | Cameron Gold Operations Ltd | 100% |
11
| Project | Tenement Type | Patent, PIN Number | Claim Number | Registered Holder | Percentage Ownership |
| Cameron | Claim | 4257392 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4255667 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4255668 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4255669 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283921 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283922 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283923 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283924 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283925 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283926 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283927 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283928 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283929 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283930 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283931 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283932 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283933 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283934 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283935 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283936 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283937 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283938 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283939 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283940 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283941 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283942 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283943 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283944 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283945 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283946 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283947 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283948 | Cameron Gold Operations Ltd | 100% | |
| Cameron | Claim | 4283949 | Cameron Gold Operations Ltd | 100% |
12
| Project | Tenement Type | Patent, PIN Number | Claim Number | Registered Holder | Percentage Ownership |
| Cameron | Claim | 4283950 | Cameron Gold Operations Ltd | 100% | |
| West Cedar | Claim | 3000802 | Cameron Gold Operations Ltd | 100% | |
| West Cedar | Claim | 3000803 | Cameron Gold Operations Ltd | 100% | |
| West Cedar | Claim | 3000804 | Cameron Gold Operations Ltd | 100% | |
| West Cedar | Claim | 1149862 | Cameron Gold Operations Ltd | 100% | |
| West Cedar | Claim | 1196649 | Cameron Gold Operations Ltd | 100% | |
| West Cedar | Claim | 3001240 | Cameron Gold Operations Ltd | 100% | |
| West Cedar | Claim | 3001298 | Cameron Gold Operations Ltd | 100% | |
| West Cedar | Claim | 3010497 | Cameron Gold Operations Ltd | 100% | |
| West Cedar | Claim | 3012199 | Cameron Gold Operations Ltd | 100% | |
| Cameron | MiningLease | 108466 | CLM289. Claims K527548-K527567,Nucanolan Property | Cameron Gold Operations Inc. | 100% |
| Cameron | Claim | 4248906 | BARKAUSKAS, EDWARD ANTHONY (40%). BERGEN,CINDRA LEE(60%) |
Earningin,option agreement | |
| West Cedar | MiningLease | 107494 | K314927,K314932,K351873,K351874,K351877,K351878 | Cameron Gold Operations Ltd | 100% |
| RainyRiver | Claim | 4254475 | CoventryResources Ontario Inc. | 100% | |
| RainyRiver | Claim | 4254476 | CoventryResources Ontario Inc. | 100% | |
| RainyRiver | Claim | 4254477 | CoventryResources Ontario Inc. | 100% | |
| RainyRiver | Claim | 4254478 | CoventryResources Ontario Inc. | 100% | |
| RainyRiver | Claim | 4254479 | CoventryResources Ontario Inc. | 100% | |
| RainyRiver | Claim | 4254472 | CoventryResources Ontario Inc. | 100% | |
| RainyRiver | Claim | 4254480 | CoventryResources Ontario Inc. | 100% | |
| RainyRiver | Claim | 4254481 | CoventryResources Ontario Inc. | 100% | |
| RainyRiver | Claim | 4254482 | CoventryResources Ontario Inc. | 100% | |
| RainyRiver | Claim | 4254483 | CoventryResources Ontario Inc. | 100% | |
| RainyRiver | Claim | 4254484 | CoventryResources Ontario Inc. | 100% | |
| Ardeen | Claim | 1022635 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1022636 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1022637 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1135465 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1135466 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1157496 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1157497 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1157666 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1157667 | Pele Gold Corporation | 51% |
13
| Project | Tenement Type | Patent, PIN Number | Claim Number | Registered Holder | Percentage Ownership |
| Ardeen | Claim | 1157668 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1157670 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1157671 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1164874 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1164875 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1164876 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1164877 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172315 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172316 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172317 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172340 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172345 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172346 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172347 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172348 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172349 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172350 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172355 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172356 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172365 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172366 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172367 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172368 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172369 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172375 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172385 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172386 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172387 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172388 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172395 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1172396 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1195937 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1195940 | Pele Gold Corporation | 51% |
14
| Project | Tenement Type | Patent, PIN Number | Claim Number | Registered Holder | Percentage Ownership |
| Ardeen | Claim | 1196147 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1196239 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1196240 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1196870 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1196921 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1196923 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1196924 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1202036 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1202264 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1202265 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1202302 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1205201 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1205202 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1205203 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1205204 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1205287 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1209440 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1209441 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1209470 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1209697 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1209698 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1209770 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1210243 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1210245 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1210776 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1210792 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1215147 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1215148 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1215149 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1215450 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1215451 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1215452 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1215453 | Pele Gold Corporation | 51% |
15
| Project | Tenement Type | Patent, PIN Number | Claim Number | Registered Holder | Percentage Ownership |
| Ardeen | Claim | 1215454 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1215751 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1215752 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1215758 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1215760 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1215831 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1215859 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1217105 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 1224629 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 3001505 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 3001506 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 3001507 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 677468 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 677469 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 677470 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 677471 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 677472 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 677473 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 677474 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 677475 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 677476 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 677477 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 677478 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 677479 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 786521 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 786522 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 786523 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 786524 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 786525 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 786526 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 786527 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 786528 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 786529 | Pele Gold Corporation | 51% |
16
| Project | Tenement Type | Patent, PIN Number | Claim Number | Registered Holder | Percentage Ownership |
| Ardeen | Claim | 786541 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 786542 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 786543 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 786544 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 786545 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 813157 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 813158 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 813159 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 813160 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 813161 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 813162 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 813163 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 813164 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 813165 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 813166 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835178 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835179 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835184 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835185 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835186 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835187 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835188 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835189 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835190 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835195 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835196 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835197 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835304 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835305 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835306 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835307 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835308 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835309 | Pele Gold Corporation | 51% |
17
| Project | Tenement Type | Patent, PIN Number | Claim Number | Registered Holder | Percentage Ownership |
| Ardeen | Claim | 835310 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835311 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835312 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 835313 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 863760 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 873515 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 873516 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 873517 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 873518 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 873519 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 873520 | Pele Gold Corporation | 51% | |
| Ardeen | Claim | 873522 | Pele Gold Corporation | 51% | |
| RainyRiver | Claim | 4250316 | CoventryRainyRiver Inc. | 100% | |
| RainyRiver | Claim | 4250319 | CoventryRainyRiver Inc. | 100% | |
| RainyRiver | Claim | 4265461 | CoventryRainyRiver Inc. | 100% | |
| RainyRiver | Claim | 4265462 | CoventryRainyRiver Inc. | 100% | |
| RainyRiver | Claim | 4265463 | CoventryRainyRiver Inc. | 100% | |
| RainyRiver | Claim | 4260559 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4260560 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4260561 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4260562 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4260563 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4260564 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4260565 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4205809 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4205814 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4205815 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4205816 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4205817 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4205818 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4214438 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4214439 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4214440 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4214441 | English,PerryVern | Earningin,option agreement |
18
| Project | Tenement Type | Patent, PIN Number | Claim Number | Registered Holder | Percentage Ownership |
| RainyRiver | Claim | 4214442 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4267980 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4267981 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4267982 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Claim | 4267983 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4254638 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4257501 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4257508 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4257510 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4257511 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4257515 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4257516 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4257517 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4260366 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4260515 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4260516 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4263609 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4272273 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4266941 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4266942 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4266943 | English,PerryVern | Earningin,option agreement | |
| South Cedar | Claim | 4266944 | English,PerryVern | Earningin,option agreement | |
| West Cedar | Claim | 4260514 | English,PerryVern | Earningin,option agreement | |
| RainyRiver | Patent | 56046-0030 | Joan Solomon | Earningin,Option agreement | |
| RainyRiver | Patent | 56046-0007 | Joan Solomon | Earningin,Option agreement | |
| RainyRiver | Patent | 56046-0077 | Shane & Rachel McQuaker | Earningin,Option agreement | |
| RainyRiver | Patent | 56046-0079 | Jan Wullum | Earningin,Option agreement | |
| RainyRiver | Patent | 56046-0086 | Gene Boyce | Earningin,Option agreement | |
| RainyRiver | Patent | 56046-0076 | Stevan Michael | Earningin,Option agreement | |
| RainyRiver | Patent | 56046-0031 | KipSharp | Earningin,Option agreement | |
| RainyRiver | Patent | 56046-0034 | Wade Kempka | Earningin,Option agreement | |
| RainyRiver | Patent | 56046-0038 | Wade & Shane Kempka & Madison | Earningin,Option agreement | |
| RainyRiver | Patent | 56046-0044 | Wade & Shane Kempka & Madison | Earningin,Option agreement |
19
Appendix 3 - Tenements acquired (Canada)
| Location | Project | Tenement Type | Tenement No. | Registered Holder | Nature of Interest | Interest at beginning of quarter |
Interest at end of quarter |
|---|---|---|---|---|---|---|---|
| Canada | Cameron Project | Claim | 4283921 | Cameron Gold Operations | 100% owned | 0% | 100% |
| Claim | 4283922 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283923 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283924 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283925 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283926 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283927 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283928 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283929 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283930 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283931 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283932 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283933 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283934 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283935 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283936 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283937 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283938 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283939 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283940 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283941 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283942 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283943 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283944 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283945 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283946 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283947 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283948 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283949 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283950 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| West Cedartree | Mining Lease | 107494 | K314927, K314932, K351873, K351874, K351877,K351878 |
100% owned | 0% - Earning in, option agreement |
100% |
20
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
Rule 5.5
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013
Name of entity
Chalice Gold Mines Limited
| ABN 47 116 648 956 |
Quarter ended (“current quarter”) |
|---|---|
| 47 116 648 956 | 31 December 2014 |
Consolidated statement of cash flows
| Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) Net Operating Cash Flows |
Current quarter $A’000 |
Year to date (6 months) $A’000 |
|---|---|---|
| 34 (767) - - (984) - 179 - - (379) |
52 (1,525) - - (1,360) - 201 - (379) (892) |
|
| (1,917) | (3,903) | |
| Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (provide details if material) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward) |
(725) - (6) - - 449 - - - |
(725) - (11) - - 449 - - - |
| (282) | (287) | |
| (2,199) | (4,190) |
- See chapter 19 for defined terms.
01/05/2010 Appendix 5B Page 1
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
| 1.13 Total operating and investing cash flows (brought forward) |
(2,199) | (4,190) |
|---|---|---|
| Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) Net financing cash flows |
- - - - - (490) |
- - - - - (507) |
| (490) | (507) | |
| Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter |
(2,689) 43,898 1,487 |
(4,697) 44,204 3,189 |
| 42,696 | 42,696 |
Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities
| 1.23 1.24 |
Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10 |
Current quarter $A'000 |
|---|---|---|
| 771 | ||
| - | ||
| 1.25 | Explanation necessaryfor an understandingof the transactions | |
| Item 1.2 – Following management changes in October 2014, administration costs includes $0.5 million in redundancies and termination payments. Item 1.7 – represents costs associated with business development activities. Item 1.9 (a) - represents the consideration payment of CAD$0.7 million for the acquisition of the Dubenski Gold Deposit. Item 1.9 (c) - represents Chalice’s share of the consideration received from the sale of plant and equipment in Eritrea. Item 1.23 – Amounts paid to related parties includes remuneration, directors’ fees and consulting fees paid to directors and $0.5 million in redundancy and termination payments. Item 1.19 – represents costs associated with the on-market buyback and minimum holding share buyback. During the quarter the company acquired 3,000,000 shares under the on- market share buyback, for a total of $0.3 million and also in December 2014, the company completed a minimum holding share buy-back, whereby the company acquired and cancelled 1,780,917 shares at a price of 11.5 cents per share ($0.2 million). |
- See chapter 19 for defined terms.
Appendix 5B Page 2
01/05/2013
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Non-cash financing and investing activities
- 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
Nil
- 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest
Nil
Financing facilities available
Add notes as necessary for an understanding of the position.
| 3.1 Loan facilities 3.2 Credit standby arrangements |
Amount available $A’000 |
Amount used $A’000 |
|---|---|---|
| Nil | Nil | |
| Nil | Nil |
Estimated cash outflows for next quarter
| 4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration |
$A’000 |
|---|---|
| (730) | |
| - | |
| - | |
| (240) | |
| Total | (970) |
Reconciliation of cash
| Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. |
Current quarter $A’000 |
Previous quarter $A’000 |
|---|---|---|
| 5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft |
8,471 34,225 - |
7,525 |
| 36,373 | ||
| - |
- See chapter 19 for defined terms.
01/05/2010 Appendix 5B Page 3
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
| 5.4 Other (provide details) |
- | - |
|---|---|---|
| Total: cash at end of quarter(item 1.22) | 42,696 | 43,898 |
Changes in interests in mining tenements and petroleum tenements
| 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements and petroleum tenements acquired or increased |
Tenement reference and location |
Nature of interest (note (2)) |
Interest at beginning ofquarter |
Interest at end of quarter |
|---|---|---|---|---|
| Canada: Rainy River Project Claims: - 4274467 - 4274468 - 4274469 - 4274460 Eritrea: Mogoraib North |
100% owned 100% owned 100% owned 100% owned 60% owned |
100% 100% 100% 100% 60% |
0% 0% 0% 0% 0% |
|
| Australia: Balagundi Project E27/429 E27/341 Canada: Refer Appendix 1. |
0% - right to earn a 70% participating interest in the Balagundi joint venture. |
0% | 0% - right to earn a 70% participating interest in the Balagundi joint venture. |
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
| Total number | Number quoted | Issue price per security (see note3) (cents) |
Amount paid up per security (see note3) (cents) |
|
|---|---|---|---|---|
| 7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions |
Nil | Nil | N/A | N/A |
| N/A | N/A | N/A | N/A | |
| 7.3 +Ordinary securities |
282,710,802 | 282,710,802 | N/A | N/A |
- See chapter 19 for defined terms.
Appendix 5B Page 4
01/05/2013
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
| 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs |
Nil (4,780,917) |
Nil (4,780,917) |
N/A N/A |
N/A N/A |
|---|---|---|---|---|
| 7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted |
Nil | N/A | N/A | N/A |
| Nil Nil |
Nil Nil |
N/A N/A |
N/A N/A |
|
| 7.7 Options (unlisted) Performance Rights |
1,050,000 500,000 |
Nil Nil |
Exercise price $0.30 $0.25 |
Expiry date 30 June 2016 31 October 2017 |
| 479,873 3,530,707 |
Nil Nil |
N/A N/A |
30 June 2016 30 June 2018 |
|
| 7.8 Issued during quarter Options Performance Rights 7.9 Exercised during quarter Options Performance Rights 7.10 Expired during quarter Options Performance Rights |
500,000 | Nil | $0.25 | 31 October 2017 |
| 142,350 | Nil | N/A | 30 June 2018 | |
| Nil | Nil | N/A | N/A | |
| Nil | Nil | N/A | N/A | |
| Nil | Nil | N/A | N/A | |
| (2,108,444) | Nil | N/A | 30 June 2016 | |
| 7.11 Debentures (totals only) |
Nil | Nil | ||
| 7.12 Unsecured notes(totals only) |
Nil | Nil |
- See chapter 19 for defined terms.
01/05/2010 Appendix 5B Page 5
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
Compliance statement
-
1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).
-
2 This statement does give a true and fair view of the matters disclosed.
Sign here: (Company secretary) Print name: Leanne Stevens
Date: 30 January 2015
Notes
-
1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
-
2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements and petroleum tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement or petroleum tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
-
3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .
-
4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.
-
5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.
== == == == ==
- See chapter 19 for defined terms.
Appendix 5B Page 6
01/05/2013
Appendix 1 – Interests in mining tenements acquired or increased
| Location | Project | Tenement Type | Tenement No. | Registered Holder | Nature of Interest | Interest at beginning of quarter |
Interest at end of quarter |
|---|---|---|---|---|---|---|---|
| Canada | Cameron Project | Claim | 4283921 | Cameron Gold Operations | 100% owned | 0% | 100% |
| Claim | 4283922 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283923 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283924 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283925 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283926 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283927 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283928 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283929 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283930 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283931 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283932 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283933 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283934 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283935 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283936 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283937 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283938 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283939 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283940 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283941 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283942 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283943 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283944 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283945 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283946 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283947 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283948 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283949 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| Claim | 4283950 | Cameron Gold Operations | 100% owned | 0% | 100% | ||
| West Cedartree | MiningLease | 107494 | K314927, K314932, K351873, K351874, K351877,K351878 |
100% owned | 0% - Earning in, option agreement |
100% |