OVERVIEW 2015

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a MINERAL EXPLORATION, MINING &r GEOSCIENCE t i n

C W h e a l n l i n Bear Bay M n BATHURST ELV e g ILL l Polar Bear Pass t E ISL o Devon AND NWA n ap C Ice C Bya ISLAND h m Martin a LAND I. n EVON IS Cornwallis n D e KITIKMEOT REGIONl 120°W 110°W 100°W Island 90°W Resolute ound elville Sound aster S unt M P A R 80°N Lanc Visco R Y Barrow Strait C H A N N E L eopold Prince L BS Island M NP Ste t ilik 100 50 0 100 200 fans e Sirm son l P A n e Islan d d e I 10 m Kilometres l t

H S n i ay r c B o i a e ct SOMERSET a Ar u d g l n n t de l e or e y B M d Projection: Lambert Conformal Conic, NAD 83 y ISLAND R I

n B St ' e 11 Borden orke C rso c l a n la e u l ins y n t n i i Pe n eur P r Brod t RINCE OF Pe WALES P ninsula o A c m k ISLAND und Peninsula sen C h a t 7 G n i 0 ul a °N f n r e t l S n li k G VIC n u Bernie T No a l r Ba i O r r y RI way B f n A ISL ay F o iqta AN f k D B Qi Tuk Pe o t nny o ut Ba t Nog y Boothia h ait D i N o Larsen Sound a P lp y h Peninsula u Ba in Collinson Ag Fury and Hecla Strait a n Pe 210 0°N d ninsula Kit Stein 7 Simpson ikmeot U n Bay io it n a S tr tr Ov S a W ayok a yoak it e Park T i Talo ll (M P r in t. Pell to King rait g y) c se St to Ca i Garry Bay Ku Dea n mbri V William Rasmussen glu B dge B kt a ay uk Richardson Bay Elu Belt y Island 101 Co LE ronation Gulf ugaaruk ELVIL 100 Kugluk Gra Basin K e M T ys Bay 309 Q Storis Passage ommitte Cop P ueen C perm 1 314 Ma I. ine Umin ud G Wales Riv gma 315 ulf 207 A Arc er ktok Do y SULA RC tic H ris Pelly Ba ay PENIN CE TIC Coppe 102 igh Lak 312 B RC CIR r Hoo Ulu e Madrid LE CL d R 313 eat Bear Lake AR E iver 348 Boston Gr CTI rand lac de l'Ours QU 311 Chicago Inuk G E 201 Hood Queen 306 303 River Maud Gulf C MBS Mus O-20 Ba Hoo kox thurst I fs d nlet Three Bluf aujaat r Hac N e 148 ket v 205 249 t Riv Four Hills-Cop i Jeric er 307 R 103 ho M 345 ine 305 304 Izok Lake 147 Anuri-Raven 301 George e Itche Lake 308 n n ver salik NP i Lake Ri Ukkusik m West Plains r 347 149 e Lupin Wis 302 Go ack W p hbon ose L B p Mine e 349 ake ag o er C W Ba ishbone Beverly C y Gold PMA d n

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m Aberdeen o c Lak l Thelon e iq e WS Inuujaarvik TP Kivall W N O s R r Baker Lake e T e o TE H v R W i B 4 R R E R aker Lake S r LEGEND IT T e D O T Commodity Groupings Areas withv Surface and/or Geological Mapping Programs a IR E i ly y E R R B c S R Subsurface Restrictions Canada-Nunavut Geoscience ay r D IT Base Metals Iron e U O CPMA Caribou Protection Office nlet M N CRoal Lithium rfield I O IE n Cheste s YE R S o Measures Apply r d l 5 LL D e o O Diamond Nieckel-Copper-PGE Transportation Routes W -O MBS Migratory Bird Sv anctuary G K h i N U Dubaw p f I T nt rjuu FE E NP National Park R Meadowbank Road Iqalugaa o GemstoneS Rare Earth Elements Lake T NWA National Wildlife Area unanga TP y Gold Uranium Meliadine Road N a ve Lake TP Territorial Park Qamanirjuaq et B reat Sla s t Angilak Milne Inlet Tote Road Rankin Inl G clave Active Mine Inactive Mine n WP Wildlife Preserve ATLASA des Es 550 CPM 13 nd lac w WS Wildlife Sanctuary 145 Yellowknife-Contwoyto Winter Road ra a Yathk G Symbol with no fill means INACTIVE. yed b zan u Ka Lake Proposed 3B1a8thurst Inlet Port and Road Bold project number and name signifiesD major e Boundaries Proposed Izok CorrWidorh Raolaed Cov or advancing project. NLCA 1 Nunavut Settlement Area Proposed Nunavut to Manitoba Road Owned Lands (Fee simple title) Nunavut Regions North Henik 2 Lake Proposed Steensby Inlet Rail Line Surface Only NILCA Nunavik Settlement Area 1 NLCA The Nunavut Land Claims Agreement Provincial / Territorial Surface and Subsurface South H2enNiILkCA The Nunavik Inuit Land Claims Agreement Lake 110°W 100°W 90°W http://cngo.ca/exploration-overview/2015/ Thlew BS iaza McConnell River M Kiyuk River 346 Nueltin Lake 8 AL Lake Athabasca BE Athabasca RTA Lac

Inlet Haig 397 Kitikmeot Region

Kitikmeot Region Geology The Kitikmeot region has some of the oldest rocks in Canada On Victoria and Prince of Wales Islands, north of the mainland, formed during the Precambrian Eon, when the Earth was flat lying or gently tilted sedimentary rocks of the Paleozoic forming 4.5 billion years ago. These granitic and volcanic platform were deposited over the ancient granitic and metamorphic rocks that make up the northern part of the volcanic Shield rocks while they were submerged below , have been deformed at various times in the an ocean basin. These sedimentary rock layers preserve past by mountain building events. Deeply eroded, folded, and numerous marine fossils. The bedrock in the region is often faulted rocks are exposed across the present landscape of the hidden beneath a cover of much younger clay, sand, and mainland and can host metallic deposits, such as gold, silver, gravel deposited by glaciers. This material is formed by the nickel, or platinum. Clues as to where the metallic deposits grinding down of bedrock by the action of glaciers and was left occur can be found by prospecting with ground and airborne behind as the ice disappeared. Fragments of harder minerals geophysical surveys, or discovered by their association with can be found in this material and can, in some cases, be quartz veins or rusty weathering of sulphide-rich rocks. traced to their place of origin.

Number Project Operator Status BASE METALS 100 Arctic Copper Arctic Copper Corp. Active 101 Kaizen Discovery Inc. Active 102-103 Izok Corridor (High Lake – 102, Izok Lake –103) MMG Limited Active 147 Hackett River Glencore plc Inactive 148 Hood MMG Limited Inactive 149 Wishbone Glencore plc Inactive GOLD 301-302 (Goose Lake – 301, George Lake – 302) Sabina Gold & Silver Corp. Active 303 CO-20 Transition Metals Corp. Active 304-308 (Anuri-Raven – 304, Auryn Resources Inc. Active Four Hills-Cop – 305, Inuk – 306, Three Bluffs – 307, West Plains – 308) 309 Elu Belt TMAC Resources Inc. Active 311 WPC Resources Inc Active 312-315 Hope Bay (Boston – 312, Chicago – 313, TMAC Resources Inc. Active Doris – 314, Madrid – 315) 345 Itchen Lake Transition Metals Corp. Inactive 347 Lupin Mine WPC Resources Inc Inactive 348 Ulu WPC Resources Inc Inactive 349 Wishbone Gold Sabina Gold & Silver Corp. Inactive DIAMONDS Hood River Crystal Exploration Inc. Active 201 Muskox Crystal Exploration Inc. Active 205 Churchill Diamond Corporation Active 207 Stein Arctic Star Exploration Corp Active 210 249 Jericho Mine Shear Diamonds Ltd. Inactive

Please refer to the map on the cover for the location of active and inactive projects in the Kitikmeot region. Bold text signifies a major project. Kitikmeot Region

Selected Mining and Exploration Highlights by 62 per cent. Current total proven and probable reserves Sabina Gold and Silver Corporation owns the Back River are estimated at 3,507,000 ounces of gold at 7.7 g/t Au. gold project, which is located on a 80 km long block of The measured and indicated resources for the three claims, approximately 75 km southwest of . It deposits totals 4,511,000 ounces of gold at an average is an advanced gold exploration project. Since the company grade of 9.2 g/t Au, while the total inferred resource is purchased the property in 2009 it has been actively exploring estimated at 1,429,000 ounces of gold at 7.4 g/t Au. the block and discovered new deposits. The Back River project currently contains measured and indicated resource Work completed in the first three quarters of 2015 involved of 5.33 million ounces of gold with an additional 1.85 million the drilling of 38 surface drill holes totaling 4,382 m at Doris ounces of gold in the inferred category. Current proven and 65 diamond drill holes (a total of 24,326 m) at Madrid’s and probable mineral reserves are estimated at 2.50 million Naartok and Suluk zones. Drilling at Suluk was successful in ounces of gold grading at 6.3 grams per tonne (g/t) gold (Au). intersecting high-grade mineralization at depth, indicating that Most of the 2015 activities concentrated on the preparation there is potential for the expansion of the existing resource. and filing of the NI 43-101 Feasibility Study in June and the In addition to drilling, a total of 8,671 line-kilometres of Final Environmental Impact Statement in November, as well magnetic-electromagnetic surveys was conducted by air, as a short winter/spring drill program and a summer field mostly over the northern part of the Hope Bay belt. A second exploration program focused on new target generation. The part of the survey designed to cover the Boston deposit as spring program consisted of two, shallow exploration drill well as a gravity survey over the entire belt were planned holes, and the August summer program included an induced but not completed and have been postponed until the 2016 polarization survey, geological mapping, prospecting, and exploration season. For 2016, the focus of activities is to channel and till sampling. advance the deposit through the permitting and regulatory processes and construct processing facilities at Doris. The Following two years of limited activities on its Committee Bay mill building construction is scheduled to commence in April project, North Country Gold and new partner Auryn Resources 2016 with planned completion in time for the delivery of the embarked on an extensive field program in the summer of processing plant scheduled during the 2016 sealift season. 2015. The exploration program consisted of till sampling, geophysics, rotary air blast drilling, structural mapping and In addition to the Hope Bay property, TMAC holds drone aerial imagery acquisition (with 10-cm resolution) approximately 305 km2 of mineral claims within the conducted over the entire property. The main focus of the adjacent Elu greenstone belt. The Elu belt is located program was the West Plains and Raven areas, on strike approximately 30 km northeast of the Hope Bay belt, is and southwest of the Three Bluffs deposit. The till sampling of similar age, and can potentially host precious and base program was conducted across the southwest part of the metal deposits. During the 2015 exploration season TMAC Committee Bay property and identified five new anomalies, commissioned two airborne geophysical surveys on the Elu ranging between one and 10 km in length, three of which Belt project. The company managed to complete the gravity defined a new 20 km long trend. In addition to till sampling, survey with less than half of the magnetic-electromagnetic an induced polarization survey was conducted over the survey remaining to be flown during the 2016 season. property. Finally, a 3,000 m rotary air blast drill program was completed. This drilling method is an especially cost-effective Following the 2014 acquisition of Copper Corp. and a way of testing targets at up to 100 m depth and has shown 2015 staking program, Kaizen Discovery’s total landholdings results comparable to the more expensive diamond drilling. that make up the Coppermine River project are approximately Drilling at the zone intercepted both low- and high-grade 3,300 km2. Kaizen is targeting two types of deposits: mineralized zones, returning values of up to sediment-hosted stratiform, and volcanic-hosted copper 13.65 g/t Au over 12.19 m in the high-grade zone and and silver. During the 2014 field season, Kaizen completed 1.26 g/t Au over 10.67 m in the low-grade zone. In September a limited rock-chip sampling program aimed at increasing 2015, Auryn finalized the acquisition of North Country Gold the knowledge of the volcanic-hosted mineralization. Chip and became the 100 per cent owner of the Committee Bay sampling returned copper and silver values of up to 4.66% property and land package of 66,610 hectares. Auryn staked copper (Cu) and 12.2 g/t silver (Ag), respectively, over 10 m, an additional 158,885 hectares of new claims along the belt, and 4.74% Cu and 23.33 g/t Ag over 6 m. In 2015 Kaizen and increased its land tenure to over 215,000 hectares. conducted a multi-faceted field program which included drilling, mapping and prospecting, and targeted both types of TMAC Resources Inc.’s Hope Bay project encompasses copper mineralization found on the property. Regional scale three separate deposits – Doris, Madrid and Boston – located prospecting resulted in the discoveries of nine new copper within the 80 km-long Hope Bay greenstone belt. Since showings. No analytical results have been released for these the purchase in 2013, TMAC has conducted aggressive new showings. The company also completed nine diamond exploration and development programs, released a favourable drill holes for a total of 2,060 m with the majority of drilling Preliminary Economic Assessment and Prefeasibility Study, targeting the sediment-hosted stratiform copper mineralization and increased the total measured and indicated resources at the base of the Rae Group. This target was tested with seven Kitikmeot Region regionally-spaced diamond drill holes totaling 1,949 m, and by the Canadian Northern Economic Development Agency and spanning approximately 40 km of favourable lithology west of EDT. The objectives of this EDT-led territory-wide project are to the historical drilling. Copper mineralization was intersected in locate and evaluate known and new carving stone deposits and all seven drill holes and consisted of disseminated, banded, assess their potential to provide nearby communities with a and typically vertically-zoned mineralization with chalcopyrite long term supply of quality carving stone for artisanal purposes. at the top, bornite in the middle and chalcocite at the base. Geologists from the GN and CNGO have worked closely with These mineralized intercepts effectively doubled the total carvers and other community members during this program to strike-length of mineralized basal Rae Group to almost 80 km. evaluate carving stone resource sites. These sites are located Following the exploration program additional staking by the near communities in all three regions. In the Kitikmeot region company increased its holdings by 185 km2 and covered the alone, there are 11 quarries and 15 additional undeveloped gap between its two main claim blocks. deposits with sufficient deposits of carving stone to provide artisans with several decades’ supply of carving stone. Programs and Studies Targeted Bedrock Mapping to Evaluate the Metal Potential Results from 2015 are reported in the annual Summary in the Under-Explored Elu Basin of Western Nunavut of Activities published by CNGO. A carving stone map is The Canadian Shield hosts a suite of superimposed in production that will disseminate the results from the intracratonic basins with demonstrated uranium and Carving Stone Deposit Evaluation program to local economic lead-zinc mineral potential. The Elu Basin in western development officers, Nunavut communities, the Nunavut Nunavut could contain similar mineral potential. The objective Arts and Crafts Association, Regional Inuit Organizations, of this targeted bedrock mapping project is to enhance the and government and scientific agencies. level of geoscience knowledge in the Elu Basin in order to support mineral exploration. During this second year Nunavut Prospectors Program and Prospector Training of research, the project focused on the stratigraphy and The Government of Nunavut’s Economic Development radiometric surveys of the Burnside River Formation, and its and Transportation department held prospector training underlying paleosol developed on granitic and greenstone-belt courses in and in 2015. These courses rocks of the Archean Slave Province. introduce participants to basic prospecting skills and provide an introduction to geological concepts. To date, more than Carving Stone Deposit Evaluation Program 950 Nunavummiut have successfully completed the course. The Nunavut Carving Stone Deposit Evaluation Program Graduates of the course may qualify for financial and technical (2010-2015) is a collaborative project between the assistance through the Nunavut Prospectors’ Program to Government of Nunavut, Department of Economic pursue their own projects, and some find opportunities to Development and Transportation (EDT) and the work as field assistants on mineral exploration projects. Canada-Nunavut Geoscience Office (CNGO) funded Upcoming course for 2016 will be held in .

Canada-Nunavut Government of Nunavut Indigenous and Northern Affairs Canada Nunavut Tunngavik Geoscience Office Department of Economic Development Resource Management Directorate Incorporated ) 867 975 4412 and Transportation Minerals and Lands, Minerals, Oil and Gas Petroleum Resources Division ) 867 975 4500 7 867 979 0708 7 867 975 4276 ) 867 983 5600 ) 867 975 7800  [email protected] 7 867 983 5624 7 867 975 7870  [email protected] www.cngo.ca  [email protected][email protected][email protected] www.aandc-aadnc.gc.ca/nu www.ntilands.tunngavik.com www.edt.gov.nu.ca

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