A recovery process in which a slurry of gold ore, carbon granules and cyanide are mixed together. The cyanide dissolves the gold content and the gold is absorbed on the carbon; the carbon is subsequently separated from the slurry for further gold removal.

Similar to carbon-in-leach process, but initially the slurry is subjected to cyanide leaching in separate tanks followed by carbon-in-pulp. Carbon-in-leach is a simultaneous process.

A method of extracting gold or silver by dissolving it in a weak cyanide solution. In the operational flow chart at the Toroparu Gold-Copper Property, cyanide use is mitigated by cyanide destruction.

The effect of waste or low-grade ore being included unavoidably in the mined ore, lowering the recovered grade.

Unrefined gold and silver bullion bars, which will be further refined to almost pure metal.

Gold equivalent for copper production is calculated on a copper to gold ratio based on metal recoveries, selected metal prices, and the projected contribution of revenue attributable to copper relative to gold.

The amount of valuable metal in each tonne of ore, expressed as grams per tonne for precious metals.

Cut-off grade - is the minimum metal grade at which a tonne of rock can be processed on an economic basis.

Recovered grade - is actual metal realized by the metallurgical process and treatment of ore based on actual experience or laboratory testing.

Reserve grade - is the estimated mass weighted average metal content of an ore body based on reserve calculations.

A process whereby gold is extracted by "heaping" broken ore on sloping impermeable pads and repeatedly spraying the heaps with a weak cyanide solution which dissolves the gold content. The gold-laden solution is collected for gold recovery.

One hectare = 2.47 acres

One kilometer = 0.62 miles

One metre = 3.28 feet

Physical plant where ore is ground fine and undergoes physical or chemical treatment to extract the valuable metals.

Mineralized material is the projection of mineralization in rock based on geological evidence and assumed continuity. It may or may not be supported by sampling but is supported by geological, geochemical, geophysical or other data. This material may or may not have economically recoverable mineralization.

That portion of public or private mineral lands which a party has staked or marked out in accordance with federal, provincial or state mining laws to acquire the right to explore for and exploit the minerals under the surface.

Net smelter return (NSR) - a share of the net revenues generated from the sale of metal produced by a mine.

Rock, generally containing metallic and non-metallic minerals that can be mined and processed at a profit.

The process by which lands disturbed as a result of mining activity are reclaimed back to a beneficial land use. Reclamation activity includes the removal of buildings, equipment, machinery and other physical remnants of mining, closure of tailings impoundments, leach pads and other mine features, and contouring, covering and re-vegetation of waste rock piles and other disturbed areas.

A term used in process metallurgy to indicate the proportion of valuable material obtained in the processing of an ore. It is generally stated as a percentage of valuable metal in the ore that is recovered compared to the total valuable metal present in the ore.

The final stage of metal production in which impurities and precious metals coal, and industrie minerals are removed from the molten metal.

Mineral Reserves are sub-divided in order of increasing confidence into Probably Mineral Reserves and Proven Mineral Reserves. A Probable Mineral Reserve has a lower level of confidence than a Proven Mineral Reserve.

'Mineral Reserve': Is the economically mineable part of a Measured or Indicated Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. A Mineral Reserve includes diluting materials and allowances for losses that may occur when the material is mined..

'Probable Mineral Reserve': Is the economically mineable part of an Indicated, and in some circumstances, a Measured Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified.

'Proven Mineral Reserve': Is the economically mineable part of a Measured Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction is justified.

The above definitions of "mineral reserve", "proven mineral reserve", and "probable mineral reserve", conform to Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") definitions as defined in the CIM Standards on Mineral Resources and Reserves - Definitions and Guidelines as required by National Instrument 43-101 of the Canadian Securities Administrators, Standards of Disclosure for Mineral Projects.

Resources

Mineral resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories: An Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonable assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

'Mineral Resource': Is a concentration or occurrence of diamonds, natural, solid inorganic, or fossilized organic material including base and precious metals, coal, and industrial minerals in or on the Earth's crust in such form or quantity and of such grade or quality that it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge.

'Indicated Mineral Resource': Is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.

'Measured Mineral Resource': Is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity.

The above definitions of "mineral resource", "measured mineral resource", and "indicated mineral resource" conform to Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") definitions as defined in the CIM Standards on Mineral Resources and Reserves - Definitions and Guidelines as required by National Instrument 43-101 of the Canadian Securities Administrators, Standards of Disclosure for Mineral Projects.

Rocks formed from material derived generally by erosion of other rocks and laid down by a chemical or mechanical process i.e., limestone, shale and sandstone.

Broken ore heaped on surface or prepared areas underground, pending treatment or shipment.

The material that remains after all metals considered economic have been removed from ore during milling.

Rocks formed as a result of ancient volcanic activity and deposited in various textures and compositions, generally defined by silica content.