• • $750 million cumulative cash flow during first five years of production
• • Pre-production capital costs of $482 million through development of more capital efficient operation for the first five years of mine life

• • After tax net present value (discounted at 5%) of $540 million and after tax internal rate of return of 18%
• • Life of mine projected production of 4.3 M oz of gold and 262 M lbs of by-product copper

Potentially Mineable Portion of the Mineral Resource at an average cut-off grade of 0.54 g/t Au^{1, 2, 3}

¹ The potentially mineable mineral resources are reported at an average cut-off grade of 0.54 g/t gold which is intentionally elevated above an optimized cut-off grade of 0.28 g/t Au)used to determine the in-pit optimized resource estimate for the Property to enhance the economics of production.

² Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. Environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues may materially affect the estimate of mineral resources. The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.

³ The potentially mineable portion of the mineral resource estimate was prepared by Eugene Puritch, P. Eng (PEO #100014010) of P&E Mining Consultants Inc. Mineral resource estimates reported in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions.

• • Environmental authorization pending
• • Pre-feasibility study scheduled in Q3 2012