TECHNICAL REPORT ON THE SAMAPLEU NICKEL AND COPPER DEPOSITS CÔTE D’IVOIRE, WEST AFRICA

DECEMBER 2015

TECHNICAL REPORT ON THE SAMAPLEU NICKEL AND COPPER DEPOSITS CÔTE D’IVOIRE, WEST AFRICA

Sama Resources Inc. – Ressources Sama Inc.

Project no: 121-26251-00

Re-issue date: December 22, 2015 Original Issue Date: August 22, 2013 Resource Effective Date: December 11, 2012 Report Effective Date: July 1, 2013

Prepared by: Mohammed Ali Ben Ayad, Ph.D., Geo Claire Hayek, Eng. MBA Jean Corbeil, Eng. Pierre-Jean Lafleur, Eng. – WSP Canada Inc. 1600, René-Lévesque Blvd. West, 16th Floor Montréal, Québec H3H 1P9 Phone: +1 514-340-0046 Fax: +1 514-340-1337 www.wspgroup.com

SIGNATURES

Original signed and dated by Mohammed Ali Ben Ayad, Ph.D. Geo 2015-12-22 Mohammed Ali Ben Ayad, Ph.D. Geo Date Associate Geologist of P.J. Lafleur Géo-Conseils Inc.

Original signed and dated by Jean Corbeil, Eng. 2015-12-22 Jean Corbeil, Eng. Date Director, Project Management WSP Canada Inc.

Original signed and dated by Claire Hayek, Eng., MBA 2015-12-22 Claire Hayek, Eng. MBA Date Mineral Processing Director WSP Canada Inc.

Original signed and dated by Pierre-Jean Lafleur, Eng. 2015-12-22 Pierre-Jean Lafleur, Eng. Date Geological Engineer P.J. Lafleur Géo-Conseils Inc.

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TABLE OF CONTENTS

1 SUMMARY ...... 1 1.1 INTRODUCTION ...... 1 1.2 PROPERTY OVERVIEW ...... 1 1.3 GEOLOGY ...... 1 1.4 EXPLORATION AND DRILLING ...... 3 1.5 METALLURGICAL TESTING AND MINERAL PROCESSING ...... 3 1.6 MINERAL RESOURCES ...... 4 1.7 ENVIRONMENT AND PERMITTING ...... 5 1.8 RECOMMENDATION AND FUTURE WORK ...... 5

2 INTRODUCTION ...... 7 2.1 SCOPE OF THE REPORT ...... 7 2.2 EFFECTIVE DATES AND DECLARATION ...... 7 2.3 INFORMATION SOURCES ...... 8 2.4 TERMS OF REFERENCE ...... 8 2.5 REPORT RESPONSIBILITY AND QUALIFIED PERSONS ...... 9 2.6 SITE VISITS ...... 10 2.7 ACKNOWLEDGEMENT ...... 10

3 RELIANCE ON OTHER EXPERTS ...... 11

4 PROPERTY DESCRIPTION AND LOCATION ...... 12 4.1 SAMAPLEU EXPLORATION PERMIT (PR 123) ...... 12 4.2 ZÉRÉGOUINÉ LICENSE (PR 300) ...... 14 4.3 TENEMENT AND ENCUMBRANCES ...... 16 4.4 LIABILITIES ...... 16

5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY ...... 17 5.1 ACCESS ...... 17 5.2 CLIMATE AND VEGETATION ...... 17 5.3 LOCAL RESOURCES ...... 18 5.4 PHYSIOGRAPHY ...... 21

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6 HISTORY ...... 22

7 GEOLOGICAL SETTING AND MINERALIZATION ...... 25 7.1 REGIONAL GEOLOGY ...... 25 7.2 PROJECT GEOLOGY ...... 27 7.3 MINERALIZATION ...... 37 7.4 MASSIVE CHROMITE MINERALIZATION ...... 50

8 DEPOSIT TYPES ...... 52 8.1 NICKEL, COPPER AND PGE DEPOSITS MODEL ...... 52 8.2 MASSIVE CHROMITE OCCURRENCES OF THE GANGBAPLEU RIDGE ...... 53

9 EXPLORATION ...... 54 9.1 SAMA EXPLORATION WORK, 2009 TO MARCH 2013 ...... 54

10 DRILLING ...... 62 10.1 SAMA 2010-2012 DRILLING PROGRAM ...... 62 10.2 SAMA 2013 DRILLING PROGRAM ...... 62 10.3 METHODOLOGY ...... 63 10.4 DRILLHOLE RESULTS AND INTERPRETATION ...... 65

11 SAMPLE PREPARATION, ANALYSES AND SECURITY ...... 69 11.1 SAMPLES DEPOSITS NICKEL-COPPER EXPLORATION ...... 69

12 DATA VERIFICATION ...... 88 12.1 QUALIFIED PERSON CHECK SAMPLE ...... 88

13 MINERAL PROCESSING AND METALLURGICAL TESTING ...... 91 13.1 SGS CANADA TEST WORK (2010) ...... 91 13.2 CTMP THETFORD MINES TEST WORK (2012) ...... 95 13.3 CONCLUSIONS AND RECOMMENDATIONS ...... 100

14 MINERAL RESOURCE ESTIMATES ...... 101 14.1 SAMAPLEU DEPOSITS ...... 101 14.2 DATABASE INTEGRITY ...... 107 14.3 MINING FACTOR ...... 107 14.4 METALLURGICAL FACTORS ...... 107

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14.5 CUT-OFF GRADES ...... 108 14.6 RESOURCE MODELLING ...... 110 14.7 GRADE ESTIMATION ...... 113 14.8 VALIDATION ...... 113

15 MINERALS RESERVE ESTIMATES ...... 125

16 MINING METHODS ...... 126

17 RECOVERY METHODS ...... 127

18 PROJECT INFRASTRUCTURE ...... 128

19 MARKET STUDIES AND CONTRACTS ...... 129

20 ENVIRONMENTAL STUDIES, PERMITTING AND SOCIAL OR COMMUNITY IMPACT ...... 130 20.1 INTRODUCTION ...... 130 20.2 REGULATORY AND ADMINISTRATIVE FRAMEWORK ...... 130 20.3 PROJECT PERMITTING PROCESS ...... 132 20.4 SUMMARY OF ENVIRONMENTAL AND SOCIAL WORK UNDERTAKEN TO DATE BY SAMA RESOURCES ...... 132 20.5 COMMUNITY RELATIONS ...... 134 20.6 ANTICIPATED ENVIRONMENTAL AND SOCIAL ISSUES ...... 135 20.7 CONCLUSIONS ...... 136

21 CAPITAL AND OPERATING COSTS ...... 137

22 ECONOMIC ANALYSIS ...... 138

23 ADJACENT PROPERTIES ...... 139 23.1 SIPILOU EXPLORATION PERMIT PR 219 ...... 139

24 OTHER RELEVANT DATA AND INFORMATION ...... 140

25 INTERPRETATIONS AND CONCLUSIONS ...... 141 25.1 MINERAL RESOURCES ...... 141 25.2 GEOLOGY AND EXPLORATION ...... 141 25.3 METALLURGICAL TESTING AND MINERAL PROCESSING ...... 142 25.4 ENVIRONMENT AND PERMITTING ...... 142

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26 RECOMMENDATIONS ...... 143 26.1 GEOLOGY AND EXPLORATION ...... 143 26.2 MINERAL RESOURCES MODEL ...... 143 26.3 METALLURGICAL TESTING AND MINERAL PROCESSING ...... 144 26.4 ENVIRONMENTAL STUDIES, PERMITTING AND SOCIAL OR COMMUNITY IMPACT ...... 144

27 REFERENCES ...... 145

28 CERTIFICATES OF QUALIFIED PERSONS ...... 148

TABLES

Table 1.1 Samapleu Mineral Resources, December 2012 (After Table 14.4) ...... 5 Table 2.1 Responsibilities in the Technical Report ...... 9 Table 4.1 Samapleu (PR 123) Claim Vertices ...... 13 Table 4.2 Zérégouiné (PR 300) Claim Vertices ...... 15 Table 6.1 SODEMI Drilling Works 1978-1998 ...... 23 Table 6.2 Exploration Works Performed at PR 123 from the 1970s until 1998 ...... 23 Table 6.3 Samapleu Mineral Resources, July 2012 (after Rivard et al., 2012) ...... 24 Table 7.1 Samapleu Deposits: Sulphide Phase Compositions (Ouattara, 1998) ...... 39 Table 7.2 Samapleu Main Deposit; Massive and Highly Disseminated Sulphide; Correlation ...... 43 Table 7.3 Samapleu Extension 1 Deposit; Massive and Highly Disseminated Sulphide ...... 43 Table 7.4 Samapleu Main Deposit; Mineralized Pyroxenite; Correlation Statistics ...... 44 Table 7.5 Samapleu Extension 1 Deposit; Mineralized Pyroxenite; Correlation Statistics ...... 44 Table 7.6 Samapleu Main Deposit; Mineralized Peridotite; Correlation Statistics ...... 45 Table 7.7 Samapleu Extension 1 Deposit; Mineralized Peridotite; Correlation Statistics ...... 45 Table 10.1 Drilling programs from July 2010 to July 2012 ...... 62 Table 10.2 Drilling Performed between January and June 2013 ...... 63 Table 11.1 Density Factors for Each Rock Type and Mineralized Material within the Samapleu Deposits ...... 73 Table 11.2 Standards with Nickel Values Used by Sama ...... 76 Table 11.3 Veritas: Rustenburg vs. Ultra Trace ...... 80

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Table 12.1 QP Check Samples vs. Database Values ...... 89 Table 13.1 Head Chemical Analysis (SGS Canada, 2011)...... 91 Table 13.2 Resource Average Composite Mineralogy ...... 92 Table 13.3 Nickel Specification – Composite 3 (Rivard et al. 2012) ...... 92 Table 13.4 Results of Locked Cycle Testing ...... 94 Table 13.5 Average Head Assays (CTMP, 2013) ...... 95 Table 13.6 Locked Cycle Test LCT-1 Results (CTMP, 2013) ...... 96 Table 13.7 Locked Cycle Test LCT-2 Results (CTMP, 2013) ...... 97 Table 13.8 Locked Cycle Test LCT 2 Results (SGS Canada, 2011) ...... 98 Table 14.1 Projects Presenting Comparable Characteristics to Samapleu ...... 104 Table 14.2 Confidence Level of Key Characterisation for Samapleu Deposits Mineral Resources ...... 106 Table 14.3 Samapleu Deposit Mineral Resources above Nickel Cut-Off Grade, December 2012 ...... 110 Table 14.4 Assay Statistics from Boreholes not used in Mineral Resource of July 2012 ...... 111 Table 14.5 Nickel Group Variogram Parameters for Samapleu Main Deposit Used for Interpolation ...... 112 Table 14.6 Nickel Group Variogram Parameters for Samapleu Extension 1 Deposit Used for Interpolation ...... 112 Table 14.7 Samapleu Deposit Mineral Resources at 0.10% Nickel Cut-Off Grade, December 2012 ...... 124 Table 20.1 Status of the Sama PR 123 Environmental Baseline Study Work ...... 132 Table 20.2 Summary of the Sama PR 123 Environmental and Social Baseline Studies (as of December 2012) ...... 133 Table 25.1 Samapleu Mineral Resources, December 2012 ...... 141 Table 26.1 Budget for the Recommended Work on PR123 ...... 143

FIGURES

Figure 1.1 Property Location Map ...... 2 Figure 4.1 Samapleu (PR 123) Property Map ...... 12 Figure 4.2 Samapleu (PR 123) Property Claim Outline ...... 13 Figure 4.3 Zérégouiné (PR 300) Property Claim Outline (Sama, 2013) ...... 15 Figure 5.1 San Pedro, Abidjan, Côte d'Ivoire ...... 19 Figure 5.2 Waterways in the Area and Location for Data Loggers and Rain Gauge Stations (SGS Environnement, 2012) ...... 20 Figure 6.1 SODEMI Soil Sampling Grid and Results ...... 22 Figure 7.1 Regional Geology of Côte d’Ivoire (SODEMI, 1972) ...... 26 Figure 7.2 Regional Geology (after Papon, 1973; Camille, 1984 and Koamelan et al., 1997) ...... 28

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Figure 7.3 Outline of Properties PR 123 and neighbouring properties PR 219 and PR 220...... 29 Figure 7.4 Samapleu Property Mafic-Ultramafic Complexes and Drill Plan ...... 30 Figure 7.5 Samapleu Deposit Mineralized Zones, Drillholes SM19 420430 and SM34 098547 ...... 31 Figure 7.6 Photomicrograph of Sapphirine Assemblage ...... 33 Figure 7.7 Interpretation of the Samapleu Structural Pattern (Ben Ayad, 2012) ...... 34 Figure 7.8 SNG’s Magnetic Vertical Gradient, Samapleu Property and Vicinity ...... 36 Figure 7.9 Photomicrographs of Samapleu Mineralization...... 38 Figure 7.10 Disseminated Sulphides, Samapleu Project (Drillhole SM25- 450250, NQ core) ...... 40 Figure 7.11 Massive Sulphide Mineralization, Samapleu Project (Drillhole SM44 450250, NQ core) ...... 41 Figure 7.12 Nickel vs. Sulphur Distribution...... 46 Figure 7.13 Nickel vs. Copper Distribution ...... 47 Figure 7.14 Platinum/Palladium Zonation; Vertical Cross Section 10475NW ...... 48 Figure 7.15 Palladium/Sulphur Ratio; Vertical Cross Section 10475NW ...... 49 Figure 7.16 Palladium/Sulphur Ratio; Log Scale ...... 50 Figure 7.17 Thin Section Images from Massive Chromite Material ...... 51 Figure 9.1 Xcalibur High Resolution Airborne Survey, Magnetic Analytic Signal ...... 56 Figure 9.2 Xcalibur High Resolution Airborne Survey, Radiometric Potassium (K) signal...... 57 Figure 9.3 Xcalibur High Resolution Airborne Survey, Radiometric Thorium (Th) signal...... 58 Figure 9.4 Fugro Electro-Magnetic high resolution, raw data...... 59 Figure 9.5 2010 Stream Sediment Sampling Program; Results (Ni ppm) and Areas for Follow-up (the airborne magnetic response in the background)...... 60 Figure 9.6 Geological Compilation of the Project Area Showing Drill Targets as a Follow-up on the HTEM Survey ...... 61 Figure 10.1 Samapleu Deposits: Drilling 2010-12 & 2013 ...... 63 Figure 10.2 Borehole Naming Convention ...... 64 Figure 10.3 Samapleu Main Deposit - Vertical Cross Section 10400NW ...... 65 Figure 10.4 Samapleu Main Deposit - Vertical Cross Section 10475NW ...... 66 Figure 10.5 Samapleu Main Deposit - Vertical Cross Section 10525NW ...... 66 Figure 10.6 Samapleu Extension 1 Deposit - Vertical Cross Section 5075 NE ...... 67 Figure 10.7 Samapleu Extension 1 Deposit - Vertical Cross Section 5225 NE ...... 67 Figure 10.8 Longitudinal Section of Samapleu Main Deposit...... 68 Figure 11.1 Core Logging and Sampling Facility ...... 70 Figure 11.2 Sama Resources Inc. In-House Standard Variability, First Period - Nickel ...... 76

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Figure 11.3 Sama Resources Inc. In-House Standard Variability, First Period - Copper ...... 77 Figure 11.4 Sama Resources Inc. In-House Standard Variability, Second Period - Nickel ...... 77 Figure 11.5 Sama Resources Inc. In-House Standard Variability, Second Period - Copper ...... 78 Figure 11.6 Veritas CRM Variation - Nickel ...... 78 Figure 11.7 Veritas CRM Variation - Copper ...... 79 Figure 11.8 OREAS CRM Variation - Nickel ...... 79 Figure 11.9 OREAS CRM Variation - Copper ...... 80 Figure 11.10 Veritas Rustenburg CRM vs. Ultra-Trace Pty Correlation - Nickel ...... 81 Figure 11.11 Veritas Rustenburg CRM vs. Ultra-Trace Pty Correlation - Copper ...... 81 Figure 11.12 SGS OREAS CRM Variability (%) - Nickel ...... 82 Figure 11.13 SGS OREAS CRM Variability (%) - Copper ...... 83 Figure 11.14 Check Samples: SGS SA vs. Veritas, Nickel % Values; First Drilling Program (n: 116) ...... 83 Figure 11.15 Check Samples: SGS SA vs. Veritas, Copper % Values; First Drilling Program ...... 84 Figure 11.16 Check Sample: Veritas vs. SGS Canada, Nickel % Values; Second Drilling Program (n: 157) ...... 84 Figure 11.17 Check Sample: Veritas vs. SGS Canada, Copper % Values; Second Drilling Program ...... 85 Figure 11.18 Check Sample - Veritas vs. SGS Canada, Nickel % Values; Third Drilling Program ...... 85 Figure 11.19 Check Sample: Veritas vs. SGS Canada, Copper % Values; Third Drilling Program ...... 86 Figure 11.20 OREAS CRM – Nickel Continuity Lab Comparison ...... 86 Figure 11.21 OREAS 73A Nickel and Copper CRM Values/SGS Canada and BVML Labs ...... 87 Figure 12.1 Check Samples: BVML vs. SGS, Nickel % Values ...... 90 Figure 13.1 Locked Cycle Flowsheet (SGS Canada, 2011)...... 93 Figure 13.2 Simplified Flowsheet ...... 99 Figure 14.1 Samapleu Main Deposit; Section 10475NW ...... 102 Figure 14.2 Samapleu Extension 1 Deposit; Section 5075NE ...... 103 Figure 14.3 Long-Term Metal Price Forecast ...... 109 Figure 14.4 Bimetal Cut-Off Grade Graphic ...... 109 Figure 14.5 Samapleu Main Deposit: Mineralized Pyroxenite: Comparison of Composite Grades (Nickel, Copper Above) and Block Model grade (Nickel, Copper Below) Inferred (213), Indicated (212) and Inferred Lower Block (223), May 2013 ...... 114 Figure 14.6 Samapleu Extension 1 Deposit: Mineralized Pyroxenite: Comparison of Composite Grades (Nickel, Copper Above) and Block Model Grade (Nickel, Copper Below) Inferred (253), Indicated (252), May 2013...... 116

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Figure 14.7 Samapleu Main Deposit, Section 10475NW; Block Data Showing Nickel Grade ...... 118 Figure 14.8 Block Model Validation: Samapleu Main Deposit, Section 10475NW (Details of Figure 14.5) ...... 118 Figure 14.9 Samapleu Main Deposit, Section 10475NW; Block Data Showing Copper Grade ...... 119 Figure 14.10 Block Model Validation: Samapleu Main Deposit, Section 10475NW (Details of Figure 14.7) ...... 119 Figure 14.11 Samapleu Extension 1 Deposit, Section 5075NE; Block Data Showing Nickel Grade ...... 120 Figure 14.12 Block Model Validation: Samapleu Extension 1 Deposit, Section 5075NE (Details of Figure 14.9) ...... 120 Figure 14.13 Samapleu Extension 1 Deposit, Section 5075NE; Block Data Showing Copper Grade ...... 121 Figure 14.14 Block Model Validation: Samapleu Extension 1 Deposit, Section 5075NE (Details from Figure 14.11) ...... 121 Figure 14.15 Isometric View of Samapleu Main Deposit Showing Indicated (brown) vs. Inferred (mauve) Mineral Resource Layout ...... 122 Figure 14.16 Isometric View of Samapleu Extension 1 Deposit Showing Indicated (brown) vs. Inferred (mauve) Mineral Resource Layout ...... 123 Figure 20.1 Monitoring Station Locations with Respect to the Project ...... 134 Figure 23.1 Map Showing Adjacent Properties ...... 139

APPENDICES

APPENDIX A: Legal Advice (2011) from Ble-Logbo Marie-Claude Chantal, Notary APPENDIX B: Audit Confirmation (2012) from SODEMI APPENDIX C Samapleu Deposits: Borehole Locations APPENDIX D Samapleu Deposits: Drilling Results Using Cut-Off Grade of 0.10% Nickel

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ABBREVIATIONS

3D ...... Three dimensional AAS ...... Atomic absorption spectrometry ANDE ...... Agence Nationale de l’Environnement (“National Environment Protection Agency”) Au ...... Gold BDF ...... Bulk density factors BQ, NQ, HQ ...... Sizes rod/bit/core, 36.5 mm, 47.6 mm, 61.5 mm BVML ...... Bureau Veritas Mineral Laboratory’s facility in Abidjan, Côte d’Ivoire CA $ ...... Canadian Dollars CIM ...... Canadian Institute of Mining, Metallurgy and Petroleum Co ...... Cobalt Company ...... Sama Resources Inc. Cp ...... Chalcopyrite Cu ...... Copper CTMP ...... Centre de Minéralogie et de Plasturgie Inc. DDH ...... Diamond drillhole ° ...... Degrees EBS ...... Environmental baseline study ESIA ...... Environmental and social impact assessment FCFA ...... West African Franc (Franc de la Communauté financière africaine), Fe ...... Iron gr ...... Gram g/t ...... Grams per tonne GES ...... Global Exploration Services SARL GPS ...... Global positioning system HTEM ...... Helicopter time domain electromagnetic ICP EOS ...... Inductively coupled plasma optical emission spectrometry ID2 ...... Inverse squared distance (interpolation method) IP ...... Induced polarization ISO ...... International Organization for Standardization JV ...... Memorandum of agreement between SODEMI and Sama Nickel Corporation, a wholly owned subsidiary of Sama, signed on January 15, 2009, controlled 66⅔% by Sama Nickel Corporation and 33⅓% by SODEMI kg/t ...... Kilogram per tonne km ...... Kilometre km² ...... Square kilometre LCT ...... Locked Cycle Testing m ...... Metre M ...... Million Mg ...... Magnesium MgO ...... Magnesium Oxide MoS2 ...... Molybdenite My ...... Million years ‘ ...... Minutes (plan) Ni ...... Nickel

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NI 43-101 ..... National Instrument 43-101, Standards of Disclosure for Mineral Projects, including Form 43-101F1, Technical Report NN ...... Nearest Neighbour (interpolation method) OK ...... Ordinary Kriging (interpolation method) Pbs ...... Galena Pd ...... Palladium PEA ...... Preliminary economic assessment PGE ...... Platinum group of elements PGM ...... Platinum group of metals Pnt ...... Pentlandite Po ...... Pyrrhotite ppb ...... Parts per billion ppm ...... Parts per million PR 123 ...... Samapleu exploration licence PR 123 PR 300 ...... Zérégouiné exploration licence PE 300 Pt ...... Platinum Py ...... Pyrite QA/QC ...... Quality assurance/quality controls QP ...... Qualified person under NI43-101 Rh ...... Rhodium S ...... Sulphur Sama ...... Sama Resources Inc. Sc ...... Scandium “ ...... Seconds (plan) SEDAR ...... System for electronic document analysis and retrieval SG ...... Specific gravity/tonnage factor SGS ...... Société Générale de Surveillance SNG ...... Société Nouvelle de Géophysique SODEGO ...... Société de Développement de Gouessesso SODEMI ...... Société pour le Développement Minier de la Côte d’Ivoire t ...... Metric tonne t/m³ ...... Tonne per cubic metre μ ...... Microns US $ ...... United States of America Dollars UTM ...... Universal transverse Mercator XRF ...... X Ray fluorescence spectrometry

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1 SUMMARY 1.1 INTRODUCTION Sama Resources Inc. (“Sama” or the “Company”) (formerly Landen Capital Corp.), a TSX Venture Exchange listed issuer, is currently conducting exploration work on the Samapleu Exploration Licence PR 123 (“PR 123”) in the western part of the Republic of Côte d’Ivoire, West Africa. GENVAR Inc. (now WSP Canada Inc. since January 2014, herein after “WSP”) was mandated by Sama to produce this report in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101”), including Form 43-101F1, Technical Report, for PR 123. 1.2 PROPERTY OVERVIEW PR 123 is located approximately 600 km northwest of Abidjan, the economic capital of Côte d’Ivoire, and 40 km west of the town of Biankouma (Cf. Figure 1.1). PR 123 covers a land surface of 25 km x 15 to 25 km, for a total of approximately 449 km². Discovered by Société pour le Développement Minier de la Côte d’Ivoire (“SODEMI”) in the mid-1970s as a follow-up on nickel (“Ni”) and copper (“Cu”) stream sediment anomalies, the Ni-Cu+platinum group elements (“PGE” and collectively with Ni and Cu, “Ni-Cu+PGE”), the Samapleu main deposit (“Samapleu Main Deposit”) was worked sporadically by SODEMI (i.e.: drilling, ground geophysics, etc.) until 1997. Besides the interesting Ni-Cu+PGE grade results, the potential Samapleu Main Deposit was poorly understood and PR 123 remained dormant until 2008, when Sama Nickel Corporation approached SODEMI for a joint venture that was established to undertake exploration within PR 123. 1.3 GEOLOGY PR 123 lies on the Achaean-aged Liberian Charnockitic province of Man (2,800 My), which is subdivided into metamorphic series (gneiss, migmatites, and charnockites) and magmatic series which envelop the ultramafic and mafic bodies that host the Ni-Cu+PGE and massive chromite mineralization. These ultramafic and mafic bodies were intruded within the metamorphic series of the province of Man along two main preferential orientations: a regional east-northeast to west-southwest orientation and a local northwest to southeast orientation. Members of these ultramafic-mafic bodies have formed incomplete geological sequences. In the more developed sequences, it is observed that from the stratigraphic bottom to the top, sequences are composed of pyroxene cumulates and plagioclase cumulates (websterite with plagioclases, norite, gabbro-norite and anorthosite). The width of these sequences is highly variable (2 to 60 m), but remains repetitive in cycles more or less complete.

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Figure 1.1 Property Location Map

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1.4 EXPLORATION AND DRILLING Since 2009, the Company’s regional exploration work highlights the prospective potential of the entire PR 123 area. In addition to the Samapleu Main Deposit and the nickel-cobalt rich laterite Sipilou South Deposit (“Sipilou South Deposit”), there are several mineralized sectors that have been identified within the PR 123 area, including Sama’s discovered Samapleu Extension 1 Ni-Cu+PGE zone (“Samapleu Extension 1 Deposit” and collectively with the Samapleu Main Deposit, the “Samapleu Deposits”). Numerous massive chromite (“Cr” or “Massive Chromite”) occurrences have also been discovered during the course of Sama’s exploration programs. The Samapleu Extension 1 Deposit was discovered by Sama in June 2010 and is located 1.3 km north of the Samapleu Main Deposit. The surface expression of the northwest-southeast oriented Samapleu Main Deposit’s ultramafic-mafic host is approximately 400 m long x 350 m wide, while the surface expression of the northeast-southwest oriented ultramafic-mafic host of the Samapleu Extension 1 Deposit as well as the SM34 (“SM34”) new sector, is approximately 2 km long x 50 m to 200 m wide. Sama’s exploration work has also outlined at surface the Yorodougou complex (“SM19” or “Yorodougou dike”). Yorodougou dike is a 1.5 km long new mafic-ultramafic complex showing an east-northeast to west-southwest orientation, with a plunge at 60-70° towards the southeast and located 4.5 km northeast of the Samapleu Main Deposit. Nickel and copper mineralization (pentlandite “Pnt”, chalcopyrite “Cp”, combined with pyrrhotite “Po”) correspond primarily to sulphide disseminations in the whole ultramafic sequences in variable amounts (1% to more than 50%), mainly in pyroxenite. Locally, we note the presence of semi-massive (40% to 80% sulphides) and massive sulphide lenses which are, at least locally, spatially associated with highly tectonized zones. Platinum-group elements are also present (palladium “Pd”, platinum “Pt” and rhodium “Rh”) and are associated with the sulphide phases, either as a distinct mineral phase or included within the structure of the principal sulphides. Thirteen specific members of the platinum group elements (“PGE”) have been identified (Ouattara 1998) and consist of Pt and Pd-tellurobismuthides, Pd-bismuthides, Pd-arsenide-antimonides, Pd-arsenides and PGE-sulphides. Pt-Pd-tellurobismuthides are more common. Sama has diamond-drilled a total of 217 boreholes for a total of 23,484 m from March 2010 to July 2012. 71 holes (10,630 m) were drilled at the Samapleu Main Deposit. The Samapleu Extension 1 Deposit was discovered by Sama in June 2010 after drilling surface geophysical induced polarization (“IP”) anomalies. The Samapleu Extension 1 Deposit mineralized surface strike extends toward the northeast and the southwest over approximately 700 m. Forty-four holes (7,044 m) were drilled along the Samapleu Extension 1 Deposit mafic-ultramafic complex. 1.5 METALLURGICAL TESTING AND MINERAL PROCESSING Metallurgical test work has been completed for the Ni-Cu+PGE mineralization of the Samapleu Deposits. The purpose of the test work program was to develop a preliminary process flowsheet that will maximize recovery of Ni, Cu and other payable metal elements. Metallurgical tests were performed at the Centre de Technologie des Minéraux et de Plasturgie Inc. (“CTMP”) laboratory in Thetford Mines, Quebec, Canada, and under the supervision of Sama’s metallurgical consultant Dr. Phillip Mackey, P.Eng. The tests indicated that a 10.48% Ni+Cu concentrate can be obtained from a flotation feed grading of 0.24% Ni and 0.25% Cu with a recovery of 73.7% on Cu and 61.6% on Ni, with payable Co and potentially payable quantities of PGE. A conventional low-risk and low-cost metallurgical flowsheet was applied to the samples to create this product. In this initial test work, it was found that the Samapleu Deposits’ mineralized material has shown the ability to be upgraded by simple grinding.

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1.6 MINERAL RESOURCES Recently, eight drillholes were added so as to bring the total length to 17,273 m and the total number of drillholes to 110. At present, the Samapleu Main Deposit is mostly drilled on a 25 m x 50 m grid spacing, while the Samapleu Extension 1 Deposit is mostly drilled on 25 m x 25 m and 50 m x 50 m grid spacing. A total of 2,069 additional samples were added to the database since the initial mineral resource calculation of July 2012. These additional samples represent 28% of the sample database. Five hundred twenty (520) samples come from six boreholes drilled at the Samapleu Extension 1 Deposit and one borehole drilled at the Samapleu Main Deposit in 2012. The remaining 1,549 additional samples, collected from 61 boreholes at both deposits, are from previously unsampled intervals due to low percentage of visible sulphide (from trace to 5%). In the previous July 2012 Maiden Mineral Resource Statement, these non-sampled intervals were considered as having no value. A 3D block model was created for each sector. Estimation was conducted using Gemcom software with the Ordinary Kriging (“OK”) interpolation method. Mineral resource estimates extend from surface, just below the weathered material, to a maximum depth of approximately 250 m from surface. Mineralization remains open at depth at both the Samapleu Main and Samapleu Extension 1 Deposits. All the blocks were estimated using a minimum of 2 and a maximum of 12 composites. Mineral resource estimates for the Samapleu Main Deposit were created by Sama’s qualified geologists under the supervision of Dr. Mohammed Ali Ben Ayad, Ph.D. P.Geo, and Pierre-Jean Lafleur, Eng. a Gemcom expert. Both are independent Qualified Persons (“QPs”) under NI 43-101. Mineral resources for the shallow depth Samapleu Deposits are reported using a 0.10% cut-off grade of Ni (Table 1.2). It is the opinion of PJLG that the mineral resource defined at the Samapleu exploration project is showing adequate shape, quantity, grade (mineral quality), and metallurgical characteristics, which is comparable to several other existing exploration and open cast mining operation in Africa and elsewhere in the word. It is at the early stage exploration and it has a reasonable prospect for economic extraction. Consulting geologist Dr. Ben Ayad, P.Geo, co-author of this report and an independent QP under NI43-101, was first contracted by Sama in April 2012 to conduct a general review of the exploration work performed by Sama and to supervise the maiden mineral resources estimation process for the Samapleu Deposits (NI 43-101 report July 13, 2012) with Mr. Pierre-Jean Lafleur, Eng. a Gemcom expert and an independent QP under NI43-101. Dr. Ben Ayad and Mr. Lafleur were contracted by WSP for conducting the review of the current mineral resources. Dr. Ben Ayad visited PR 123 from April 19 to 22, 2012. The resource database for the Samapleu Deposits meets industry standards and complies with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) codes for public reporting. PJLG is of the opinion that a drill spacing grid of 25 m x 25 m, given the known geology and drillholes angles, is sufficient in the area where it is available at Samapleu to start a PEA or PFS. The ongoing metallurgical test and this report, including consideration for logistic and environment objectives, represent the beginning of such initiative. As mentioned in the appropriate respective sections of the report, much work remains to be done to reach the level of PEA or PFS, including the outlining of more indicated mineral resources. The effective date of the mineral resources is December 11, 2012.

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Table 1.1 Samapleu Mineral Resources, December 2012 (After Table 14.4) Classification Tonnes Contained Ni Contained Cu Ni Cu Co Pt Pd Au Rh (,000) t t t % % % g/t g/t g/t g/t

Measured (Mea) Indicated (Ind) 14,159 33,404 27,807 0.24 0.20 0.02 0.11 0.29 0.03 0.01 Total Mea+Ind 14,159 33,404 27,807 0.24 0.20 0.02 0.11 0.29 0.03 0.01 Inferred 26,480 62,263 48,719 0.24 0.18 0.01 0.09 0.31 0.03 0.01

Notes a) Results are presented in situ. b) Block bulk densities were interpolated from specific gravity measurements taken from core samples. c) Resource modeling used 7,835 samples from the 110 boreholes drilled with 9 elements assayed. d) 1 m composites were used during interpolation. e) Cautionary Statement: Mineral resources are not mineral reserves and do not have a demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. PJLG is unaware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other issues that may materially affect the mineral resources. 1.7 ENVIRONMENT AND PERMITTING As the project is still in an exploration phase, WSP considers the work done to date adequate for understanding the environmental and social issues likely to affect the Project. Sama contracted SGS Environnement Côte d’Ivoire SA (SGS Environnement) to conduct baseline studies in 2012 in order to document the existing environmental and socioeconomic conditions over a large area of PR 123. Sama has developed and implemented an extensive public consultation program in the 6 villages and surrounding area of PR 123, thus gaining the support of these local communities. Results of a preliminary geochemical testing program indicate that the combined tailings are not acid generating; however, the sulfur content of the rougher tails is greater than 0,3%, which will require the implementation of a Potential Acid Generating and Non Potential Acid Generating tailings management strategy to protect both the surface and ground water resources. Sama recognizes the need to continue broadening their public consultation program in the PR 123 area to include additional stakeholders to identify key areas and subjects to be addressed during the advancement of the exploration project and through the future Environmental Impact Assessment phase of the project. 1.8 RECOMMENDATION AND FUTURE WORK WSP recommends a work program that includes further exploration work, metallurgical testing, and various studies aimed at completing the characterization of the Project for future development. The suggested work program includes the following components:  Additional drilling for at-depth extensions for massive sulphide lenses together with reducing drill spacing on the inferred sectors of the Samapleu Deposits.  Additional drilling for regional exploration on HTEM targets.  Additional metallurgical testing to improve the bulk concentrate recovery and grade.  Additional baseline environmental studies and update of existing baseline environmental studies as required.

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 Additional geochemical tests for ore, waste rock, and tailings.  Review of the terms of reference for all future baseline environmental and social impact studies to be conducted by qualified international reviewers.  Develop the terms of reference for the Environmental and Social Impact Assessment study with Cote d’Ivoire regulatory authorities and IFC.

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2 INTRODUCTION PR 123 is a nickel and copper exploration project (“Project”) located within PR 123 in the western part of the Republic of Côte d’Ivoire, West Africa. The property is located within the Sipilou district, 50 km west of Biankouma. 2.1 SCOPE OF THE REPORT The following technical report (hereinafter “the Report”) identifies, defines, and quantifies nickel and copper resources to determine whether the mineralized zones can be expanded upon and upgraded to a resource type, as defined by current standards. This technical report also gives a first description of the newly-discovered massive chromite occurrences. In November 2012, Sama Resources Inc. (“Sama”) commissioned the engineering consulting firm GENIVAR Inc. (now WSP Canada Inc. since January 1, 2014, hereinafter “WSP”) to lead and perform this technical report, based on contributions from a number of independent consulting firms. This Report was prepared at the request of Dr. Marc-Antoine Audet, Ph.D., P.Geo., president, chief executive officer (“CEO”) and director of Sama. Sama is a Canadian publicly-traded company listed on the TSX Venture Exchange (TSX-V) symbol SME, with its head office situated at: 1055, West Hastings Street, Suite 1825 Vancouver, British Columbia Canada, V6E 2E9 Tel: +1 (604) 443-3830 This Report, titled “Technical Report of the Samapleu Nickel and Copper Deposits Côte d’Ivoire, West Africa”, was prepared by Qualified Persons (QPs) following the guidelines of NI 43-101, and in conformity with the guidelines of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves. 2.2 EFFECTIVE DATES AND DECLARATION This Report is considered effective as of July 1, 2013 and is in support of Sama’s press release, dated August 12, 2013, entitled Sama Resources Reports Significant Increase in Mineral Resource Estimate at the Samapleu Nickel-Copper-Palladium Deposits. The resource has an effective date of December 11, 2012. WSP’s opinion contained herein is based on information collected by WSP throughout the course of WSP’s investigations, which in turn reflects various technical and economic conditions at the time of writing. Given the nature of the mining business, these conditions can change significantly over relatively short periods of time. Consequently, actual results may be significantly more or less favourable. This Report may include technical information which requires subsequent calculations to derive sub-totals, totals, and weighted averages. Such calculations inherently involve a degree of rounding and, consequently, introduce a margin of error. Where this occurs, the authors do not consider this to be material. The overall Report was collated by WSP personnel. WSP is not an insider, associate or an affiliate of Sama and neither WSP nor any affiliate has acted as Advisor to Sama, its subsidiaries or its affiliates, in connection with this Project. The results of the technical review by WSP are not dependent on any prior agreements concerning the conclusions to be reached, nor are there any undisclosed understandings concerning any future business dealings.

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This Report is intended to be used by Sama, subject to the terms and conditions of its agreement with WSP. That agreement permits Sama to file this Report as an NI 43-101 Technical Report pursuant to provincial securities legislation. With the exception of the purposes legislated under provincial securities laws, any other use of this Report, by any third party, is at that party’s sole risk. 2.3 INFORMATION SOURCES This Report is based in part on Sama’s internal technical reports, maps, published government reports, company letters and memoranda, and public information, as listed in Section 27 “References” of this Report. Sections from reports authored by other consultants may have been directly quoted or summarized in this Report, and are so indicated, where appropriate. It should be noted that the authors have relied upon selected portions or excerpts from material contained in the following NI43-101 Compliant Technical Report. This Report is publicly available on SEDAR (www.sedar.com) NI43-101 Technical Report on the Samapleu Nickel Copper Deposits, Côte d’Ivoire, West Africa, Samapleu Exploration License PR 123, prepared for, Sama Resources Inc. dated July 20, 2012 (David Rivard, P.Geo., Mohammed Ali Ben Ayad, Ph.D., P.Geo., Francis Roger Billington, P.Geo. and Chris Martin, C.Eng.). The information, conclusions and opinions contained herein are based on:  metallurgical test work performed by SGS Canada Inc. (SGS Canada) and CTMP;  information from the ongoing Environmental Baseline Study performed by SGS Environnement Côte d’Ivoire S.A.;  information from Sama staff and internal reports (in part) in areas such as, infrastructure, environmental and legal matters in preparing other parts of this technical report. The authors believe that the basic assumptions contained in the information above are factual and accurate, and that the interpretations are reasonable. The authors have relied on this data and have no reason to believe that any material facts have been withheld. The authors also have no reason to doubt the reliability of the information used to evaluate the mineral resources presented herein. 2.4 TERMS OF REFERENCE Unless otherwise stated:  all units of measurement used in this technical report are metric (International System of Units);  tonnages are reported as metric tonnes (“t”);  base metal values (nickel, copper and cobalt) are reported in weight percentage (“%”) or parts per million (“ppm”);  precious metal values are reported in grams per tonne (“g/t”) or ppm;  other references to geochemical analysis are reported in ppm or parts per billion (“ppb”) as reported by the originating laboratories. Unless otherwise stated, all metal prices are expressed in terms of US dollars (“US $”). GPS coordinates for PR 123 is zone 29 north WGS 84 Datum and latitude/longitude system; maps are either in UTM coordinates or in the latitude/longitude system.

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2.5 REPORT RESPONSIBILITY AND QUALIFIED PERSONS The responsibilities for the preparation of certain sections of this Report are shown in Table 2.1 below and, notwithstanding anything else in this Report, none of the authors accept any responsibility or liability for any sections of this Report that were prepared by the other party. Where the responsibility for a section is assigned to more than one author, such section indicates that parts of the section were authored by different persons. Each author has contributed to portions of Sections 1 “Summary” and 26 “Recommendations”, based on their respective contributions to this Report. All the Qualified Persons (QPs) have contributed to the writing of this Report and have provided QP certificates, included at the end of this Report. The information contained in the certificates outline the sections in this Report that each of the QPs is responsible for.

Table 2.1 Responsibilities in the Technical Report Section Description Entity Qualified Person Comments and Exceptions

1 Summary PJLG M.A. Ben Ayad All contributed based on their J. Corbeil expertise and scope of work. C. Hayek P.-J. Lafleur 2 Introduction PJLG M.A. Ben Ayad 3 Reliance on Other Experts PJLG M.A. Ben Ayad 4 Property Description and Location PJLG M.A. Ben Ayad 5 Accessibility, Climate, Local WSP J. Corbeil Resources, Infrastructure and Physiography 6 History PJLG M.A. Ben Ayad 7 Geologic Setting and PJLG M.A. Ben Ayad Mineralization 8 Deposit Types PJLG M.A. Ben Ayad 9 Exploration PJLG M.A. Ben Ayad 10 Drilling PJLG M.A. Ben Ayad 11 Sample Preparation, Analyses and PJLG M.A. Ben Ayad Security 12 Data Verification PJLG M.A. Ben Ayad 13 Mineral Processing and WSP C. Hayek Metallurgical Testing 14 Mineral Resource Estimates PJLG P.-J. Lafleur 15 Mineral Reserve Estimates N/A 16 Mining Methods N/A 17 Recovery Methods N/A 18 Project Infrastructure N/A 19 Market Studies and Contracts N/A

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Section Description Entity Qualified Person Comments and Exceptions

20 Environmental Studies, Permitting WSP J. Corbeil and Social or Community Impact 21 Capital and Operating Costs N/A 22 Economic Analysis N/A 23 Adjacent Properties PJLG M.A. Ben Ayad 24 Other Relevant Data and PJLG M.A. Ben Ayad Information 25 Interpretation and Conclusions All All contributed based on their expertise and scope of work. 26 Recommendations All All contributed based on their expertise and scope of work. 27 References PJLG M.A. Ben Ayad

2.6 SITE VISITS Dr. Ben Ayad, Ph.D., P.Geo. of P.J. Lafleur Géo-Conseil Inc. (“PJLG”) and co-author of this technical report, visited the site from April 19 to 22, 2012. During this site visit, Dr. Ben Ayad reviewed and compiled information on logging, quality assurance quality controls (“QA/QC”), densities, sampling and assays performed by Sama. QP M.A. Ben Ayad, P.Geo, considers the site visit current, per NI 43-101CP, Section 6.2, on the basis that no material work has been completed on the Property since the date of the site visit and all practices and procedures documented were reviewed. QP Ben Ayad has reviewed the financial statements filed by Sama and posted on SEDAR which supports the notion that the work completed on the Project from July 2012 to June 2013 does not have any material change on the resource estimation (REF: Condensed Interim Consolidated Financial Statements For the three and nine months ended June 30, 2013). Mr. Jean Corbeil, engineer at WSP and co-author of this technical report, visited the site January 27 and 28, 2013. Mr. Corbeil also visited the region near the project while traveling to and from the site on January 26 and 29. Mr. Corbeil also visited the port in San Pedro on January 30, 2013, and met the port authorities in Abidjan on January 31, 2013. 2.7 ACKNOWLEDGEMENT WSP would like to acknowledge the support provided by Sama personnel during this assignment. Their collaboration is greatly appreciated.

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3 RELIANCE ON OTHER EXPERTS The authors of this report have reviewed and analysed data and reports provided by Sama, together with publicly available data, drawing its own conclusions augmented by direct field examination. The authors of this report are not qualified to provide extensive comment on legal issues, including status of tenure associated with the Property referred to in this report. A description of the Property and ownership found in Section 4.0 was provided by Sama and was sourced from the Government of Côte d’Ivoire. The information is provided for general understanding only. QP M. Ali Ben Ayad, P.Geo, as relied upon the “Avis Juridique” (legal advice) delivered by Me BLE- LOGBO Marie-Claude Chantal Notary in Abidjan and dated December 21, 2011 (Cf. Appendix C), and upon the Audit Confirmation addressed to SODEMI on November 28, 2012 (Cf. Appendix D), for matters pertaining to mineral claims and mining leases as well as the acquisition agreement as disclosed in Section 4.0. QP Jean Corbeil, Eng., relied upon Craig Wood, B. Sc. of WSP for matters pertaining to environmental and permitting process as disclosed in Section 20.0. This report includes technical information which required subsequent calculations to derive subtotals, totals, and weighted averages. Such calculations inherently involve a degree of rounding and consequently introduce a margin of error. Where these occur, the QP does not consider them to be material.

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4 PROPERTY DESCRIPTION AND LOCATION 4.1 SAMAPLEU EXPLORATION PERMIT (PR 123) 4.1.1 DESCRIPTION PR 123 is located approximately 600 km northwest of Abidjan, the economic capital of Côte d’Ivoire, West Africa (Figure 4.1). An exploration permit gives the applicant a right to explore for minerals for a certain time period as prescribed by the applicable mining laws and regulations. PR 123 area is approximately 25 km by 15 to 25 km in size for a total of 449 km2 (Figure 4.2), and is located within the Sipilou district, 50 km west of Biankouma. PR 123 is approximately centred on latitude 7°43’00” and longitude 7°55’00” (619,800E; 854,000N). The area includes the communities of Yorodougou Village and several smaller villages. The Claim vertices are presented in Table 4.1 Property boundaries are not surveyed in the field; they are expressed officially by latitude and longitude coordinates, however, UTM coordinates are also used.

Figure 4.1 Samapleu (PR 123) Property Map

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Figure 4.2 Samapleu (PR 123) Property Claim Outline

Table 4.1 Samapleu (PR 123) Claim Vertices License Coordinates (UTM) wgs84, Zone 29 North Point Easterly Northerly

A 614,000 864,500 B 624,100 864,500 C 624,100 854,200 D 629,100 854,200 E 621,600 840,500 F 610,200 840,500 G 610,200 854,300 H 614,000 854,200 I 601,100 854,500 J 598,900 854,500

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4.1.2 OWNERSHIP In Côte d’Ivoire, land is federally owned and as such an application to the government, through the Department of Mines and Energy, is required to obtain an exploration license. Pursuant to a request by SODEMI, the Republic of Côte d’Ivoire awarded SODEMI PR 123, which is the subject of this Report, by decree No. 97-375 dated July 2, 1997, which was renewed pursuant to decree No. 014/MME/DM dated May 13, 2008. Thereafter, the JV (as defined in Section 4.2.1) was signed on January 15, 2009 in order to explore PR 123. Landen Capital Inc. (“Landen”) acquired 100% of Sama Nickel Corporation, a private Canadian company, on March 29, 2010. Sama Nickel Corporation then became a wholly-owned private subsidiary of Landen. Landen assumed all of Sama Nickel Corporation’s obligations as outlined in this Report through a wholly-owned subsidiary, Sama Nickel Côte d’Ivoire SARL. On October 25, 2010, PR 123 was renewed for two years by decree No. 008/MME/DGMG/DDM dated October 25, 2010. To comply with the mining rules and regulations, the surface area was reduced from the initial 750 km2 to 298 km2 plus an extension of 151 km2 for a total of 449 km2. The extension is attached to the renewed PR 123 (Figure 4.2). The request for the PR 123 renewal, for an additional three years, was filed on July 13, 2012 and was granted on October 31, 2012 under Arrêté du MMPE/DGMG/DDM No. 091, for an additional three years. 4.1.3 JOINT VENTURE AGREEMENT A Memorandum of Agreement between SODEMI and Sama Nickel Corporation was signed on January 15, 2009: the Joint Venture (“JV”). Under the terms of this agreement, the JV was established with Sama Nickel Corporation, which is now operated by Sama Nickel Corporation’s wholly-owned private subsidiary, Sama Nickel Côte d’Ivoire SARL, as operator, to undertake exploration within PR 123. Future operations will be managed by the JV, controlled 66⅔% by Sama Nickel Corporation, a wholly-owned subsidiary of the Company, and 33⅓% by SODEMI. The financial participation will be as follows:  Sama: 100% to feasibility; and  thereafter, Sama: 60% of capital, SODEMI 30% and the Ivorian government has a 10% free-carried interest. Management of the JV and PR 123 are through a joint Management Committee (SODEMI and Sama Nickel Corporation). Several Management Committee meetings have taken place since 2009. On all occasions, proposed work programs and budgets were approved. No other permits are needed for either SODEMI or Sama Nickel Corporation in order to perform exploration work within the PR 123 area. 4.2 ZÉRÉGOUINÉ LICENSE (PR 300) 4.2.1 DESCRIPTION PR 300 area is approximately 27 km by 11 to 20 km in size for a total of 394 km² (Figure 4.3), and is located partially within the Sipilou district and partially within the Dadané district, 50 km southwest of Biankouma. PR 300 is approximately centred on latitude 7°36’00” and longitude 8°01’00” (606,900E; 838,800N). There are no significant communities within the licence. The area is fairly isolated with poor access. Coordinates are shown in Table 4.2. PR 300 was granted on December 19, 2012 under Decree No. 2012 1174.

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Figure 4.3 Zérégouiné (PR 300) Property Claim Outline (Sama, 2013)

Sipilou Nord laterite

Sipilou Sud laterite

Dépôts Ni-Cu de Samapleu

Occurrences de Chromite Massive

PR 300

Table 4.2 Zérégouiné (PR 300) Claim Vertices License Coordinates (UTM) wgs84, Zone 29 North

POINT EASTERLY NORTHERLY

A 598,652 854,476 B 609,958 854,496 C 609,958 840,538 D 617,622 840,538 E 617,622 828,040 F 598,625 828,040

4.2.2 OWNERSHIP The Zérégouiné Exploration Permit is owned at 100% by Sama Nickel Côte d’Ivoire SARL.

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4.3 TENEMENT AND ENCUMBRANCES Exploration licenses in Côte d’Ivoire are applied for and granted to the applicants by the Department of Mines and Energy of the Ivorian government and are based on the proposed work program. An exploration license is issued first for a three-year period, with two possible renewal periods of two years each, followed by an additional three-year period based on results and merits. For each of these steps, a work program with budget commitment is negotiated by the Department of Mines and Energy and the applicant. The title holder is required to submit monthly activity reports as well as an annual activity report to the Department of Mines and Energy. Within PR 123 and the PR 300, surface rights belong either to individuals where lots are defined in villages and, when defined outside villages in rural or forested areas, the surface rights belong to the tribal group through family clans (see also Section 5.5). 4.4 LIABILITIES To the best of their knowledge, the authors believe that there are no particular environmental liabilities related to the Project area.

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5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY Côte d'Ivoire is situated in West Africa, bounded by Liberia and Guinea to the west, Mali and Burkina Faso to the north and Ghana to the east. The country has more or less a square outline measuring from 500 to 600 km per side, and has approximately 16 M inhabitants. 5.1 ACCESS Access to the district of Man-Biankouma is via a four-lane highway between Abidjan and Yamoussoukro for the first 120 km and then paved roads to Man and Biankouma Access from Biankouma to PR 123, near the village of Yorodougou, is via a dirt road (approximately 35 km) maintained annually by the Biankouma district authority. The dirt road continues through the town of Sipilou approximately 25 km west of Yorodougou where the Samapleu exploration camp is located. From Yorodougou to the Samapleu Deposits, the access is via a bush track servicing smaller villages. 5.2 CLIMATE AND VEGETATION PR 123 falls within the Guinéo-Soudanien climatic condition, which is a transition between equatorial and tropical climates. The area has distinct wet and dry seasons. The dry season extends from November to March, while the wet season covers the period from March to October. There is an average of 1,600 mm of rain per annum. Although some specific exploration work might be affected during the wet season, Sama is able to operate year-round. The PR 123 area is located at the transition zone between the tropical forest area and the northern savannah, where grassy woodland and occasional dry scrub are predominant. The tropical forest (that covers nearly one-third of Côte d’Ivoire) extends from the coastline to the west between the Sassandra River and the mouth of the Cavally River and to the town of Man in the north. The vegetation communities observed in the PR 123 area can be divided into three main habitat types which reflect a combination of terrain, drainage and vegetation cover. These vegetation communities are:  tropical forest with dense closed canopy;  grasslands with scattered trees and shrubs with moderate to open canopy; and  degraded tropical savannah and forests due to plantation and agriculture (cleared and/or burned forest).

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5.3 LOCAL RESOURCES The population of Côte d’Ivoire (16 M estimated in 2000) is composed of a number of different ethnic groups, with the principal groups being Akan (Baoulé and Agni primarily), Krou (Bété and Yacouba), Malinke, Mande and Senoufo. The overall population density is estimated at 44 persons per square kilometre, but it is with less than 3 persons per square kilometre in the PR 123 area. The Akan constitute about 35% of the population, with the largest single group being the Baoulé. The dominant ethnic groups in the PR 123 area are the Toura, Malinke, and in surrounding lands, the Yakouba, Dan and Wobe. Religious beliefs consist of a combination of Muslim, Christian and indigenous faiths. French is the official language. The principal African languages are Agni, Senoufo, Baoulé, Yacouba and Dioula (the market language). Yacouba is the principal language in the PR 123 area. Biankouma is the largest local urban centre in the PR 123 area and is supported by the larger town of Man. Man, which has a population of approximately 50,000 inhabitants, is located about 40 km to the south of Biankouma. Both centres are home to the local government head or Prefect, who administers an area known as a “Département”. Outside these centres, human habitation consists of smaller towns/villages, such as Sipilou, Yorodougou and Samapleu, with numerous other small villages often with less than 100 inhabitants. Rural housing is largely constructed with mud block walls and thatched roofs. Traditional land tenure systems in rural areas were generally based on communal ownership of the land. Individual families were granted rights to cultivate particular areas and these rights were inheritable; however, unclaimed lands reverted back to the community. Following French rule and independence, a land ownership system was put in place that permitted individuals and corporations to own land. Although this newer system may be in place, it appears that most of the rural lands are still managed communally on a village-by-village basis. The economy of the PR 123 area is primarily agricultural and much of it is on a subsistence basis. Small family-run plots of land are cultivated on a shifting agriculture basis. A cash economy exists in the region and is fuelled by cash crops, logging, ranching and roadside vendors servicing vehicular traffic. A variety of mining activity has occurred in western Côte d’Ivoire over the years. In the 1970s, low-grade iron deposits were identified at Bangolo, while a diamond mine near Seguela produced 270,000 carats per year until the late 1970s. In the early 1990s, a gold mine was developed at Ity, near Danané, approximately 100 km southwest of Biankouma. 5.3.1 PORT FACILITIES There are two deep-sea ports in Côte d’Ivoire: one in Abidjan and one in San Pedro (Figure 5.1). The distance to Abidjan is about 600 km while that to San Pedro is less than 500 km.

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Figure 5.1 San Pedro, Abidjan, Côte d'Ivoire

The figure on the left is an overall view of the port and of part of the city of San Pedro. It shows an existing “Packaged goods terminal” that can accommodate vessels up to approximately 20,000 DWT with a guaranteed depth of 9 m (which is sufficient for 15,000 to 20,000 DWT vessels), and a future “Bulk terminal” that will accommodate vessels up to 35,000 DWT with a guaranteed depth of 14 m. The figure on the right is a larger scale image of the “Packaged goods terminal”, with a 4,000 m2 warehouse opening directly onto the dock. 5.3.2 WATER There is no water utility in the area. Figure 5.2 shows a map of all continuous waterways in the area, four of which have been monitored for rate of flow and elevation by SGS Environnement over the past few years. The monitoring points that are particularly interesting are shown on the map and are labeled SM01, 02, 03 and 04. Of all the monitoring stations, site SM03 presents the greatest flow.

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Figure 5.2 Waterways in the Area and Location for Data Loggers and Rain Gauge Stations (SGS Environnement, 2012)

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5.3.3 POWER SUPPLY As with most mining installations in Côte d’Ivoire, the Compagnie Ivoirienne d’Électricité (CIE), which is the public utility, will supply the power. The existing 33 kV line just north of the village of Yorodougou would presumably be able to supply a potential mine site, although the branch-off to Yorodougou would not. A substation would thus be required for a potential mine site. This substation would most likely be built close to the existing transmission line, and a new transmission line built over about 5 km to the site. 5.4 PHYSIOGRAPHY The terrain can be described as a large plateau rising gradually from sea level in the south to almost 500 m elevation in the north, with the highest point in the country at Mont Nimba (1,752 m) on the Guinean border to the west. The southeastern region is marked by coastal inland lagoons that start at the Ghanaian border and extend some 300 km along the coast. The southern region, especially the southwest, is covered with dense tropical forest. Eastern Guinean forests extend east from the Sassandra River across the south-central and southeast portion of the Côte d’Ivoire and east into Ghana, while the Western Guinean lowland forests extend west from the Sassandra River into Liberia and southeastern Guinea. The mountains of the Dix-Huit Montagnes region are in the western part of the country near the Liberia and Guinea borders and are home to the Guinean mountain forests in Côte d’Ivoire. The forest-savannah zone extends across the middle of the country from east to west and is the transition zone between the coastal forest and the interior savannahs, interlacing forest, savannah, and grassland habitats. Northern Côte d’Ivoire is part of the West Sudanian Savannah Zone of tropical and subtropical grasslands, savannah, and scrublands. It is a zone of lateritic or sandy soils, with vegetation decreasing from south to north. Most of PR 123 is characterized by undulating hills covered with tropical forests, low grasslands and valleys; occasional steppe crests are also present. Topographic elevation ranges from 400 m in the low grasslands to slightly above 1,000 m for the steppe crests. Near the northern edge of PR 123, a gradual transition from the forested hilly sector to a savannah plain is observed.

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6 HISTORY The base metal (Ni, Cu, Co and PGM) mineral potential of the entire PR 123 area was identified by SODEMI in the mid-1970s through regional stream sediment sampling programs that were part of Geomine Ltd’s Fe-Titanium-Vanadium exploration program. (Note: Geomine Ltd. is a defunct exploration company that explored western Côte d’Ivoire in the 1970s in association with SODEMI.) Results from the regional stream sediment sampling program outlined most of the major Ni-Co rich laterite deposits known today, including the Sipilou, Foungouesso, Moyango, Touoba deposits and the Sipilou South Deposit, as well as the then Samapleu Ni-Cu showing. Falconbridge Ltd., in joint venture with SODEMI, explored the Ni-Co laterite deposits of defunct license PR 52, now replaced by the Sipilou and Foungouesso licenses PR 219 and PR 220, adjacent to the PR 123 area. Following on Geomine Ltd.’s results, SODEMI then narrowed down the search area in the vicinity of Samapleu Village and performed line cutting with a detailed soil sampling program (Figure 6.1). A total of 2,731 soil samples were collected and analyzed for Ni, Cu and Au at SODEMI’s laboratory in Abidjan.

Figure 6.1 SODEMI Soil Sampling Grid and Results

In 1978, a total of 32 lines per km of induced polarization (“IP”) surveys were completed covering the main Ni in soil anomalies located on the northeastern flank of a small prominent hill near Samapleu Village. The IP surveys highlighted the potential of the PR 123 area.

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In 1982, SODEMI performed its first of three drilling campaigns with 14 core boreholes for 2,812 m. Holes S1 and S2 were drilled down dip to the mineralized zone. Subsequently, in 1986 and 1987, SODEMI drilled an additional 23 shorter holes for 2,824 m. In 1996 and 1997, SODEMI drilled their third program with five holes for 780 m. There is little information available on specifications for these various drill campaigns performed by SODEMI. Drilling was performed “in-house” using SODEMI’s rigs (Cf. Table 6.1). The core size was BQ.

Table 6.1 SODEMI Drilling Works 1978-1998 Year Sponsor Activity Details

1978 SODEMI Drilling (Sipilou South) 3 holes for 75 m 1982 SODEMI Drilling 14 holes for 2,812 m 1986-87 SODEMI Drilling 23 holes for 2,824 m 1996-97 SODEMI Drilling 5 holes for 780 m

Disseminated, semi-massive and massive sulphide mineralization were encountered returning elevated Ni, Cu and PGE values and massive sulphide material grades up to 4.0% Ni and 8.0% Cu. Detailed interpretation of the historical data showed that the first two holes drilled at PR 123 were drilled down dip to the mineralized zone. At the time of the 1986-1987 campaign, the geometry of the deposit was not well understood. It was not until 1993 when exploration resumed at PR 123. At that time, SODEMI performed additional ground geophysics with 100 line/km of Max-Min and 13 lines per km of IP and ground magnetic surveys. The Max-Min and IP programs confirmed the previous 1978 geophysical anomalies in an area located approximately one km northeast of the main sector previously tested by drilling. IP results were deemed encouraging and in 1996 and 1997, SODEMI drilled its third program with five holes for 780 m. Although some good results were obtained from the third campaign, the geometry of the body was still poorly understood and the Samapleu PR 123 area remained dormant until 2008 when Sama Nickel Corporation approached SODEMI for a JV. Regional exploration in the southern part of the PR 123 area (defunct PR 47, replaced by PR 123) took place in 1998, with 2,067 stream samples assayed for Ni, Cu and Ag. On January 15, 2009, Sama Nickel Corporation and SODEMI signed the JV in order to further explore and develop the Ni-Cu+PGE resource of PR 123. Table 6.2 gives a brief summary of the history of the Property.

Table 6.2 Exploration Works Performed at PR 123 from the 1970s until 1998 Year Sponsor Activity Details

1970s Geomine Ltd. Stream sediment 6,373 stream sediment program 1970s SODEMI Soil sampling 2,731 soil sample program 674 rock samples 1978 SODEMI Drilling (Sipilou South) 3 holes for 75 m 1981 SODEMI Ground IP survey 32 km/line 1982 SODEMI Drilling 14 holes for 2,812 m

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Year Sponsor Activity Details

1986-87 SODEMI Drilling 23 holes for 2,824 m 1991 Trillion Res. Geological review 1993 SODEMI Ground IP survey 13 line/km 1993 SODEMI Max-Min and Mag 100 line/km 1996-97 SODEMI Drilling 5 holes for 780 m 1998 SODEMI Stream sediment sampling 2,067 stream sediment program

The maiden mineral resource estimates presented in the NI43-101 Technical Report of July 20, 2012 (Rivard et al. 2012), for the Samapleu Deposits were based on 102 boreholes totalling 15,849 m (Table 6.3).

Table 6.3 Samapleu Mineral Resources, July 2012 (after Rivard et al., 2012) Classification Tonnes Contained Contained Ni Cu Co Pt Pd Au Rh (,000) t Ni Cu % % % g/t g/t g/t g/t t t

Measured - - - (Mea) Indicated (Ind) 12,467 30,180 27,738 0.24 0.22 0.02 0.11 0.30 0.03 0.01 Total Mea+Ind 12,467 30,180 27,738 0.24 0.22 0.02 0.11 0.30 0.03 0.01 Inferred 7,986 18,720 13,844 0.23 0.17 0.02 0.08 0.31 0.02 0.01

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7 GEOLOGICAL SETTING AND MINERALIZATION 7.1 REGIONAL GEOLOGY PR 123 is located in northwestern Côte d’Ivoire, which constitutes the eastern limit of the West African Archean Craton (Figure 7.1). This Archean-aged province of Côte d’Ivoire, known as the Kénéma-Man domain, consists chiefly of Archean granulitic and migmatitic gneiss with subordinate granitoides and relic supracrustal belts, which are metamorphosed to granulitic facies and are predominantly composed of a banded iron formation. The Achean rocks were affected by two major but poorly constrained tectono-thermal events: the earlier Leonien orogeny (3500-2900 My) and the subsequent Liberian orogeny (2900- 2500 My). The Kénéma-Man domain is separated in two by the Danané-Man fault:  the northern part (province of Man), representing the base of the Archean shield where the predominant facies are of high metamorphic grade and of granulitic type; and  the southern part of granulitic and migamatitic is composed of charnokitic gneiss, biotite migmatite, leptynite and granite.

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Figure 7.1 Regional Geology of Côte d’Ivoire (SODEMI, 1972)

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7.2 PROJECT GEOLOGY The Archean-aged Liberian Charnockitic province of Man underlies the PR 123 area Work from Nahon et al. (1982), Camil (1984) and Kouamelan et al. (1997) indicates that the area includes the metamorphic and magmatic series. The metamorphic series are composed of gneiss and migmatites varying from medium to high grade metamorphism. According to Kouamelan et al. (1997), a period of accretion of continental crust is recognized during the Archean at 3,200-3,300 My, with a major phase of igneous and metamorphic activity corresponding with the Liberian event around 2,800 My. These authors indicate that Paleoproterozoic reworking has been found in the Man area during the Birimian event, 2,100 My, and has produced an important amount of juvenile magmatism. The magmatic series, aside from the presence of intrusives like norite, anorthosite, charnokyte and granodiorite, include mafic and ultramafic bodies (Nahon et al. [1982], Camil [1984] and Kouamelan et al. [1997]). The Charnokyte of tonalitic composition is dated 2800 ±8 My and the granulite and granodiorite have been dated about 2741 and 2745, respectively, ±4 My. Magmatization seems to be more recent, that is approximately 2681 ±7 My. Regionally, mafic and ultramafic bodies are known to be associated and elongated along the regional northeast-southwest foliation trend. Figure 7.2 is a diagram of the regional geology west of the Sassandra fault, which includes the Samapleu Property. Figure 7.3 shows the location of PR 123 and neighbouring PR 219 and PR 220 properties.

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Figure 7.2 Regional Geology (after Papon, 1973; Camille, 1984 and Koamelan et al., 1997)

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Figure 7.3 Outline of Properties PR 123 and neighbouring properties PR 219 and PR 220

The Samapleu mafic and ultramafic complex is located in the north granulitic domain of the Man area, composed mostly of granulitic gneiss and charnokites, where laterite profiles are developed and highly variable in thickness (<60 m). At the Samapleu Main Deposit, the laterite profile is very thin at the summit overlying the gabbro layer and becomes thicker going down the slope over the pyroxenite units, reaching approximately 35 m. At the Samapleu Extension 1 Deposit, the thickness of the laterite profile is typically between 30 and 40 m. As a consequence of this highly developed laterization profile, surface geological data remains very weak and the essentials of the geological information comes from drilling data and geophysical interpretation. The geological sketch map presented on Figure 7.4 is the result of geochemistry, geophysical and drilling compilations realized by different authors since the discovery of this mineralization in 1970. The actualization of this data, following Sama’s exploration work, facilitated the production of the sketch map on Figure 7.4 showing ultramafic and mafic complexes of the Samapleu Deposits area.

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Figure 7.4 Samapleu Property Mafic-Ultramafic Complexes and Drill Plan

7.2.1 SAMAPLEU GEOLOGY Two ultramafic-mafic complexes are the geological hosts of the Ni-Cu+PGE Samapleu Deposits and are intruded within hypersthenic gneisses of Archean age. Two additional ultramafic-mafic complexes were discovered in the vicinity of the complexes described above. The southwestern member of the complexes that host the Extension 1 Deposit revealed mineralised intersections, especially in Hole SM34-098547. Located 4.4 km northeast of the Samapleu Main Deposit, the Yorodougou dike, also known as sector SM19, is composed of a 1,500 m long by 250 m wide ultramafic and mafic member with mineralization intercepted in borehole SM19-420430 (Figure 7.5).

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Figure 7.5 Samapleu Deposit Mineralized Zones, Drillholes SM19 420430 and SM34 098547

The following is partially derived from Ouattara (1998) and a recent ongoing Sama sponsored Ph.D. thesis by one of Sama’s geologists, Mr. Franck Gouedji. The Samapleu Main Deposit’s ultramafic-mafic complexes were described as a magmatic series (Ouattara, 1998) and interpreted as being a Paleoproterozoic-aged complex tectonically located within a northwest-southeast deformation zone within the Liberian Charnockitic craton initially described by Chrisholm (1991) and Ouattara (1998). The geological assembly includes the following facies succession from the surface down: surface laterite; pyroxenite interlayered with peridotite units; gabbro. The ultramafic series is composed of an irregular sequence ranging from 2 to 60 m in thickness, with a succession of facies from stratigraphic bottom to top composed of chromitite, olivine cumulate and pyroxene cumulate. The ultramafic and mafic sequences display plagioclase cumulate at the top (Ouattara, 1998). Contacts between various geological units are generally sharp and well-defined. According to Ouattara and Gouedji, mineralization is preferably within pyroxenite, although local zones rich in sulphides were identified within the peridotite units.

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Information obtained from Sama’s recent geological mapping as well as from various geophysical survey data and detailed borehole observations have allowed Sama’s team to suggest that the Samapleu Main Deposit is composed of two distinct blocks, Upper (“Upper block”) and Lower (“Lower block”) mafic-ultramafic blocks. The Upper block’s extend up to the surface, just below the weathering profile, and can be intersected to a maximum depth of 150 m. The Lower block is separated from the Upper block, but a low-dipping southwest-oriented fault, suggests an inverse displacement of approximately 75 m. The Lower block is perceived to be tabular in shape with a general northeastern plunge at approximately 60°. Within the Upper block, the contact between mineral-bearing pyroxenite and the subjacent peridotites plunges towards the east-northeast at an angle of approximately 40°, but can be as steep as 70° locally. The apparent polarity within the ultramafic-mafic sequences is inverted. 7.2.2 SAMAPLEU EXTENSION 1 GEOLOGY In June 2010, Sama discovered the Samapleu Extension 1 Deposit, located 1.3 km north of the Samapleu Main Deposit. At surface the gabbro and the pyroxenite hosts, form a 2,200 m long elongate complex oriented from east-northeast to west-southwest. It is cut off from the folded Samapleu Main Deposit mafic-ultramafic complex at almost right angles by a younger steeply dipping southeast thrust fault. The geological succession at the Samapleu Extension 1 Deposit is fairly similar to the Samapleu Main Deposit succession described above with, from top to bottom, the following succession: Surface laterite; peridotite (dunite, lherzolite); pyroxenite (websterite); plagioclase rich websterite/gabbro (Figure 7.6). 7.2.3 PETROLOGY Detailed petrology and mineralogical determination of these various geological units was performed predominantly at the Samapleu Extension 1 Deposit by Mr. Gouedji in 2011 as part of his current Ph.D. research program. More detailed petrology and mineralogical work is ongoing. Peridotite This geological package is composed mainly of dunite and serpentinized lherzolite. The dunite, located at the contact point with the gneissic host, is composed of olivine, magnetite (derived from olivine during serpentinization) and minor amounts of orthopyroxene. The rock is slightly sheared. The lherzolite units are composed of relatively large olivine phases (>70%), that are partially serpentinized. The pyroxene phase represents 20% to 30% of the global assemblage and shows orthopyroxene as well as clinopyroxene. The serpentine species observed using a Raman spectrometer at the University of Franche Comté is exclusively lizardite associated with magnetite. Minor amounts of sulphides and massive chromite are also present. Rare amphiboles were observed. Pyroxenite The pyroxenite grouping includes websterite, spinel-rich websterite and olivine-rich websterite. The websterite is mostly composed of orthopyroxene (60%) and clinopyroxene (<20%) of 1 to 2 mm in grain size. The remaining 20% of the rock assemblage is comprised of green amphiboles. The pyroxenite facies can carry disseminated semi-massive and massive sulphide mineralization. Green spinels (hercynite) are also present through the facies, but are more abundant in the spinel-rich pyroxenite facies. Olivine-rich websterite is only observed near the surface when in contact with the lherzolite.

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Massive chromite Massive chromite is found as fine layers within the pyroxenite assemblage. Massive chromite forms approximately 50% of the facies with the grain size (up to 4 mm) partially altered in magnetite. Massive chromite has an interstitial habit and shows typical net texture surrounding pyroxene minerals. Biotite, muscovite, rare amphibole and sulphides are also present and account for less than 5%. Plagioclase-rich websterite It was observed that websterite is progressively enriched in plagioclase toward the footwall gabbro (stratigraphic top). Plagioclase is interstitial in the pyroxene grains. Sulphide phases are somewhat less abundant. Gabbro The mafic assemblage includes: gabbro-, anorthosite-, gabbronorite- and sapphirine-rich mafic rocks. Gabbro is composed of orthopyroxenes (35% to 40%) with less abundant clinopyroxenes. Plagioclase (40%) has an interstitial texture with large phases and sometimes as phenocrysts. It represents mafic cumulates of the upper part of the intrusion. Sapphirine-rich mafic rocks are mostly located near the footwall contact with the gneissic country rock. Sapphirine, plurimillimetric in size with the characteristic blue-green color (Figure 7.6) presents a fine edge made of gedrite and/or biotite with traces of sillimanite. Sapphirine is in close association with plagioclase, orthopyroxene, and cordierite. Sulphides can be present up to 30%.

Figure 7.6 Photomicrograph of Sapphirine Assemblage

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The sapphirine assemblage suggests an aluminium-rich protolith (meta-sediments) with forming conditions between 850°C to 1050°C under pressure reaching 6 to 8 Kb. This implies that the rock has undergone a granulite high temperature metamorphism and has then been transformed under high temperature conditions by contact metamorphism due to the ultramafic intrusion. This is confirmed by similar rare earth spectra signatures between sapphirine-rich mafic rocks and surrounding gneisses (Gouedji, Ph.D. in progress). Similarities exist between mafic and ultramafic complexes at both Samapleu Main and Samapleu Extension 1 Deposits. Together with the apparent continuity at depth, these suggest the existence of a structural pattern responsible for the east-northeast to west-northwest orientation of the Samapleu Extension 1 Deposit and the northwest to southeast orientation of the Samapleu Main Deposit, as seen on Figure 7.7.

Figure 7.7 Interpretation of the Samapleu Structural Pattern (Ben Ayad, 2012)

Considering the following characteristics:  the northwest-southeast orientation of the Samapleu Main UM body and the northeast-southwest orientation of the Samapleu Extension 1 UM body;  the localization of these rocks in the regional foliation;  the existence of relicts of deformation in the host rock and in the sulphides; and  the perpendicular to oblique orientation of these bodies from each other, clearly visible in the magnetic survey map.

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Based upon this, we speculate that the folding and shearing of a mafic/ultramafic body, which had intruded the host rock (Archaean gneiss) along its major foliation, occurred during the latest major deformation recognized in this area. According to Kouamelan (1997), the Archean Man craton underwent both melting and shearing events while juvenile magma (mantle derived) was set. Two major phases have been recognized in the Archean history of the Man domain:  the pre-Leonien to Leonien events (3.2-3.0 Gy) which correspond to tonalite-trondhjemite- granodiorite (TTG) magmatic suites and later, the formation of supracrustal belts. This period was at least in part a phase of accretion for newly-formed continental crust; and  the Liberian event (2.8 Gy) corresponds to the reworking of the pre-existing crust during granulite-facies metamorphism. Although Birimien resetting of the Archean crust becomes stronger from north to south, two stages of resetting during the Birimien orogeny are deduced by radio-chronology dating. These stages are the two events recognized generally within the juvenile Birimien terrains at 2.2 and 2.1 Gy. Hence, the mafic and ultramafic units were most likely intruded within the Liberian craton during the tectonic event responsible for the observed major foliation and subsequently were further folded and sheared. In every instance, whatever the age of this deformation affecting the host rock of the Ni-Cu mineralization, the understanding of this structural pattern will be helpful in the establishment of future exploration targets. In this geological context of mafic/ultramafic bodies, the Ni-Cu-Fe sulphide and massive chromite types of mineralization are well understood and are typical of this kind of environment. 7.2.4 GEOPHYSICAL DATA A 13,000 line/km airborne magnetometer and radiometric survey was completed by Xcalibur Airborne Geophysics in April 2012. It covers the entire PL 123 as well as part of Sama’s Lola property in the neighbouring Republic of Guinea. In addition to delineating thrust fronts and faults, the survey generated several areas of exploration interest. Geological reconnaissance over these targets is ongoing. A 3,390 line/km airborne electromagnetic and magnetic survey was performed by Fugro Airborne Surveys (PTY) LTD of South Africa in December 2012 and January 2013. Two major magnetic axes, organized at a regional scale can be deduced from the geophysical results:  a frequent northeast-southwest axis with a large extension; and  a more discrete northwest-southeast axis, discontinued by its orientation subparallel to the magnetic line survey. The highly magnetic nature of the mafic and ultramafic rocks, hosts of the Ni-Cu+PGE mineralization, allows the use of magnetic geophysical survey compilation from ground magnetic geophysical surveys realized by Abidjan’s Société Nouvelle de Géophysique (“SNG”) and presented on Figure 7.8.

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Figure 7.8 SNG’s Magnetic Vertical Gradient, Samapleu Property and Vicinity

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7.3 MINERALIZATION The following description is largely from Ouattara’s thesis (1998). It is completed by the field observations of Sama’s geological team and QP. Sama’s geological understanding of the PR 123 area suggests that the Samapleu Ni-Cu+PGE mineralization is typical of magmatic Ni-Cu-PGE sulphide deposits. According to Ouattara (1998), the Ni-Cu+PGE mineralization at the Samapleu Main Deposit is mostly associated with the primary disseminated sulphides that occur in the ultramafic and mafic members, but are more abundant in the ultramafic members. They are present in all the cumulates (1% to 10%, locally more than 50% sulphides). Pyroxenite and peridotite are the most sulphide-rich rock types.

Sulphide phases consist of Pnt, Po, Cp, pyrite (“Py”), molybdenite (“MoS2”) and galena (“Pbs”). MoS2 and Pbs are accessory phases. The crystallization order for main sulphides is Py-Pnt-Po-Cp (Figure 7.9). Sulphides occur either as inclusions or as interstitial sulphides. Interstitial sulphides commonly form disseminated grains, interstitial to silicates and massive chromites or lodes in sulphide-rich rocks. The latter often display net to matrix textures (Ewers & Hudson, 1972 and Naldrett, 1973). Textural relationships with silicates and massive chromites suggest that magmatic material crystallized from an interstitial immiscible sulphide melt. Three kinds of inclusions are observed: rounded grains enclosed in silicates or massive chromite, sulphides trails and tubular inclusions in amphibole and pyroxene cleavage planes. Sulphide mineralisation is found in submagmatic fracturing. Rounded inclusions are interpreted as early sulphide liquids trapped during silicate and chromite growth. Pyrite often occurs as euhedral crystals 20 to 200 microns wide. It is cobalt-rich (1 to 3.7 wt%). The other sulphides are generally xenomorphic. Pentlandite shows a wide composition range with Fe/Ni ratios varying between 0.75 and 1.5. Pyrrhotite is the predominant sulphide. Two crystal habits of pyrrhotite are present in the complex: monoclinic and hexagonal Po. They contain low Ni contents (<1 wt%). Chalcopyrite composition is homogeneous with a Cu/Fe ratio of 1 to 1.04. The mineral paragenesis of the sulphide phases observed in the cumulate phases corresponds to the following (in decreasing order): Po, Cp, Pnt and Py. Molybdenite and Pbs constitute the accessory phases (Ouattara, 1998). Sulphides generally form polyphasic assemblages.

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Figure 7.9 Photomicrographs of Samapleu Mineralization

Table 7.1 shows the composition for each sulphide phase present in the Samapleu mineralization. It can be observed that Pnt grade is at 33.3% Ni, while Cp grade is at 34.07% Cu. Minor amounts of accessory minerals like MoS2 and Pbs can also be observed.

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Table 7.1 Samapleu Deposits: Sulphide Phase Compositions (Ouattara, 1998) Average Weight% NB NB Sulphide Phase Samples Points S Ni Cu Co Fe Fe/Ni Cu/Fe Fe/s

Pentlandite 6 244 33.62 33.31 1.11 31.18 0.94 0.93 Chalcopyrite 5 235 34.83 34.07 29.05 1.17 0.83 Pyrrhotite 7 202 37.36 0.08 60.42 1.62 Pyrite 3 239 53.31 2.36 43.64 0.82

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The exploration work performed by Sama since 2010 supports historical observations with the added contribution that the primary mineralization is mostly associated with pyroxenite sensu stricto and, to a lesser extent, with peridotite or olivine-rich pyroxenite units. In addition to the primary disseminated mineralization characteristics of the ultramafic and mafic lithologies of the Samapleu Main Deposit, Ouattara described another less abundant morphologic type known as semi-massive and massive sulphide types. Figure 7.10 gives an example of disseminated sulphides in drillhole SM25-450250.

Figure 7.10 Disseminated Sulphides, Samapleu Project (Drillhole SM25-450250, NQ core)

7.3.1 DISSEMINATED SULPHIDES Rock with disseminated sulphides (Figure 7.10) is characterized by having less than 40% sulphide content. Mostly associated with pyroxenite facies, they can also be observed in gabbroic facies. Sulphide phases consist of pyrrhotite, chalcopyrite, pentlandite and pyrite. Pyrite is only observed in trace amounts. Besides the predominant disseminated type, there are two other less abundant morphologic types known as semi-massive and massive sulphide types (Figure 7.11).

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7.3.2 MASSIVE SULPHIDES Massive sulphides (Figure 7.11) contain >80% sulphide phases. Sulphide phases consist of pyrrhotite, chalcopyrite, pentlandite and pyrite. They are mostly associated with pyroxenite and, to a lesser extent, with peridotite facies. They are characterized by very large sub-rounded mineral sulphide phases surrounding pyroxene. When in contact with pyroxenite facies, massive sulphide “horizons” show more or less diffuse contacts, whereas, contacts with peridotite are sharp. Massive sulphide lenses, like semi-massive sulphide lenses, can vary in thickness from a few centimeters up to 6 or 7 metres. Sulphides are present as anhedral interstitial phases disseminated in the host rock or may rarely form generally massive sulphide accumulations with breccia fragments.

Figure 7.11 Massive Sulphide Mineralization, Samapleu Project (Drillhole SM44 450250, NQ core)

Based on available data, it is interpreted that there are massive to semi-massive sulphide lenses that are stratigraphically embedded, while some other massive to semi-massive sulphide lenses were tectonically emplaced following sulphide remobilization of the disseminated primary sulphide mineralization. 7.3.3 PLATINUM GROUP ELEMENTS AND MINERALS Elements of the platinum group are also present (Pd, Pt and Rh) in the mineralized material of the Samapleu Deposits and are associated with the sulphide phases, either as distinct mineral phases or included within the structure of the principal sulphides. Massive chromites also contain PGE (Ouattara, 1998).

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Ouattara, 1998, identified a total of 13 specific members of PGM: Pt and Pd-tellurobismuthides, Pd-bismuthides, Pd-arsenide-antimonides, Pd-arsenides and PGE-sulphides. Pt-Pd-tellurobismuthides are the most common. Platinum group minerals include the following: moncehite (PtPd)(TeBi)2, mertieite Pd5(SbAs)2, kotulskite Pd(TeBi), laurite RuS2, merenskyite (Pd,Pt)(Te,Bi)2, majakite PdNiAs, michenerite (PdPt)TeBi, malanite Cu(PtRhIr)2S4, sobolevkite PdBi and four additional unnamed PGM members. The most common are tellurobismuthides and Pd-bearing minerals, and the main PGE occur mainly as inclusions in chalcopyrite, pentlandite, pyrrhotite and pyrite. “PGM occurrences, their textural relationships with the other rock minerals and their composition suggest that the Samapleu PGM have a magmatic origin and crystallized from an immiscible sulphide liquid enriched in PGE” (Ouattara, 1998). 7.3.4 MINERAL CORRELATION ANALYSIS Basic statistical correlation parameters were derived for several elements for the Samapleu Deposits and for three facies: massive and highly disseminated sulphide mineralization, mineralized pyroxenite and mineralized peridotite (Tables 7.2 to 7.7). Strong and moderate correlations are highlighted in dark brown and green, respectively. Metal correlations are almost identical for both Samapleu Deposits (Tables 7.2 to 7.7):  Ni, Fe, Co and Pd show strong correlations with S;  Cu is moderately correlated to all elements except with Pt and Rh, with which it is poorly correlated;  Pt is poorly correlated to all elements except with Pd and Rh, with which it is slightly correlated;  Rh shows moderate to strong correlations with Pd.

Mineralized pyroxenite Metal correlations show slight variations when comparing both the Samapleu Main and Extension Deposits (Tables 7.4 and 7.5):  Ni, Fe, Co and Pd show strong correlations with S for both deposits;  Cu is moderately correlated to all elements except with Pt and Rh, with which it is poorly correlated;  Pt is poorly correlated to all elements at the Samapleu Main Deposit, but shows moderate correlation with Pd and Rh at the Samapleu Extension 1 Deposit;  Pd, Rh and Au show strong correlation with Fe, Ni, Co and S at the Samapleu Extension 1 Deposit, while these are moderate to weak correlations at the Samapleu Main Deposit.

Mineralized peridotite Similar trends are observed in mineralized peridotite as for the mineralized pyroxenite, with the exception that Pd at the Samapleu Extension 1 Deposit shows stronger correlation to Fe, Ni, Co and S than seen at the Samapleu Main Deposit (Tables 7.6 and 7.7). The Ni% versus S% and Ni% versus Cu% graphs (Figures 7.12 and 7.13) support the coefficient correlation findings suggesting that Ni, Cu and S correlated relatively well.

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Table 7.2 Samapleu Main Deposit; Massive and Highly Disseminated Sulphide; Correlation Element Fe S Ni Cu Co Pt Pd Rh Au

Fe 1.00 0.99 0.98 0.46 0.98 0.09 0.73 0.47 0.06 S 0.99 1.00 0.98 0.49 0.98 0.07 0.75 0.47 0.06 Ni 0.98 0.98 1.00 0.38 1.00 0.14 0.77 0.57 0.02 Cu 0.46 0.49 0.38 1.00 0.38 0.04 0.51 0.16 0.40 Co 0.98 0.98 1.00 0.38 1.00 0.13 0.76 0.57 0.03 Pt 0.09 0.07 0.14 0.04 0.13 1.00 0.30 0.48 0.05 Pd 0.73 0.75 0.77 0.51 0.76 0.30 1.00 0.81 0.17 Rh 0.47 0.47 0.57 0.16 0.57 0.48 0.81 1.00 0.31 Au 0.06 0.06 0.02 0.40 0.03 0.05 0.17 0.31 1.00

Table 7.3 Samapleu Extension 1 Deposit; Massive and Highly Disseminated Sulphide Element Fe S Ni Cu Co Pt Pd Rh Au

Fe 1.00 0.99 1.00 0.24 0.96 0.20 0.80 0.69 0.20 S 0.99 1.00 0.99 0.28 0.98 0.22 0.81 0.75 0.24 Ni 1.00 0.99 1.00 0.25 0.96 0.23 0.81 0.70 0.21 Cu 0.24 0.28 0.25 1.00 0.24 0.13 0.58 0.05 0.79 Co 0.96 0.98 0.96 0.24 1.00 0.34 0.79 0.82 0.25 Pt 0.20 0.22 0.23 0.13 0.34 1.00 0.38 0.26 0.22 Pd 0.80 0.81 0.81 0.58 0.79 0.38 1.00 0.53 0.61 Rh 0.69 0.75 0.70 0.05 0.82 0.26 0.53 1.00 0.32 Au 0.20 0.24 0.21 0.79 0.25 0.22 0.61 0.32 1.00

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Table 7.4 Samapleu Main Deposit; Mineralized Pyroxenite; Correlation Statistics Element Fe S Ni Cu Co Pt Pd Rh Au

Fe 1.00 0.99 1.00 0.24 0.96 0.20 0.80 0.69 0.20 S 0.99 1.00 0.99 0.28 0.98 0.22 0.81 0.75 0.24 Ni 1.00 0.99 1.00 0.25 0.96 0.23 0.81 0.70 0.21 Cu 0.24 0.28 0.25 1.00 0.24 0.13 0.58 0.05 0.79 Co 0.96 0.98 0.96 0.24 1.00 0.34 0.79 0.82 0.25 Pt 0.20 0.22 0.23 0.13 0.34 1.00 0.38 0.26 0.22 Pd 0.80 0.81 0.81 0.58 0.79 0.38 1.00 0.53 0.61 Rh 0.69 0.75 0.70 0.05 0.82 0.26 0.53 1.00 0.32 Au 0.20 0.24 0.21 0.79 0.25 0.22 0.61 0.32 1.00

Table 7.5 Samapleu Extension 1 Deposit; Mineralized Pyroxenite; Correlation Statistics Element Fe S Ni Cu Co Pt Pd Rh Au

Fe 1.00 0.99 1.00 0.24 0.96 0.20 0.80 0.69 0.20 S 0.99 1.00 0.99 0.28 0.98 0.22 0.81 0.75 0.24 Ni 1.00 0.99 1.00 0.25 0.96 0.23 0.81 0.70 0.21 Cu 0.24 0.28 0.25 1.00 0.24 0.13 0.58 0.05 0.79 Co 0.96 0.98 0.96 0.24 1.00 0.34 0.79 0.82 0.25 Pt 0.20 0.22 0.23 0.13 0.34 1.00 0.38 0.26 0.22 Pd 0.80 0.81 0.81 0.58 0.79 0.38 1.00 0.53 0.61 Rh 0.69 0.75 0.70 0.05 0.82 0.26 0.53 1.00 0.32 Au 0.20 0.24 0.21 0.79 0.25 0.22 0.61 0.32 1.00

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Table 7.6 Samapleu Main Deposit; Mineralized Peridotite; Correlation Statistics Element Fe S Ni Cu Co Pt Pd Rh Au

Fe 1.00 0.80 0.81 0.57 0.84 0.15 0.76 0.63 0.33 S 0.80 1.00 0.95 0.73 0.90 0.11 0.81 0.51 0.42 Ni 0.81 0.95 1.00 0.63 0.92 0.11 0.83 0.53 0.37 Cu 0.57 0.73 0.63 1.00 0.55 0.10 0.63 0.35 0.47 Co 0.84 0.90 0.92 0.55 1.00 0.13 0.77 0.59 0.32 Pt 0.15 0.11 0.11 0.10 0.13 1.00 0.17 0.18 0.11 Pd 0.76 0.81 0.83 0.63 0.77 0.17 1.00 0.67 0.42 Rh 0.63 0.51 0.53 0.35 0.59 0.18 0.67 1.00 0.19 Au 0.33 0.42 0.37 0.47 0.32 0.11 0.42 0.19 1.00

Table 7.7 Samapleu Extension 1 Deposit; Mineralized Peridotite; Correlation Statistics Element Fe S Ni Cu Co Pt Pd Rh Au

Fe 1.00 0.99 0.98 0.43 0.97 0.58 0.96 0.92 0.21 S 0.99 1.00 0.99 0.42 0.98 0.61 0.97 0.91 0.20 Ni 0.98 0.99 1.00 0.35 0.99 0.59 0.96 0.90 0.18 Cu 0.43 0.42 0.35 1.00 0.33 0.08 0.41 0.36 0.30 Co 0.97 0.98 0.99 0.33 1.00 0.59 0.95 0.89 0.15 Pt 0.58 0.61 0.59 0.08 0.59 1.00 0.67 0.66 -0.07 Pd 0.96 0.97 0.96 0.41 0.95 0.67 1.00 0.94 0.22 Rh 0.92 0.91 0.90 0.36 0.89 0.66 0.94 1.00 0.21 Au 0.21 0.20 0.18 0.30 0.15 -0.07 0.22 0.21 1.00

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Figure 7.12 Nickel vs. Sulphur Distribution

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Figure 7.13 Nickel vs. Copper Distribution

7.3.5 INTERPRETATION To further the correlation results described in Section 7.3.1, the Ni, Cu and PGE grade trends were studied using down-hole directions as well as 3D views, providing evidence for trends in element enrichment or depletion for some metal components. The chemical characterization was made using data from drillholes with complete assay suites only. It can be observed using the Pd/Pt ratio and the Pd/S ratio plotted over the S% that there is a slight geological zonation within the mineralized pyroxenite and peridotite complex of the Samapleu Main Deposit.

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Apparent depletion of the Pd element versus Pt is observed in mineralized layers near the surface, versus facies located near the footwall contact with the gabbro (Figure 7.14). Similar zonations are also outlined by the Pd/S ratio (Figure 7.15).

Figure 7.14 Platinum/Palladium Zonation; Vertical Cross Section 10475NW

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Figure 7.15 Palladium/Sulphur Ratio; Vertical Cross Section 10475NW

The trends generated by these PGM ratios may be indicative of the presence of specific PGM species, as suggested by Ouattara (1998), which are neither correlated to nickel nor copper. These trends are further enhanced by the Pd versus S graph (Figure 7.16), whereby two specific Pd populations can be outlined; P1 and P2, with the P2 population suggesting an elevated Pd value in relation to low S.

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Figure 7.16 Palladium/Sulphur Ratio; Log Scale

7.4 MASSIVE CHROMITE MINERALIZATION Massive chromite occurrences observed along the Gangbapleu Ridge are hosted within members of an interpreted, dislocated, mafic-ultramafic layered intrusion. Numerous isolated massive chromite occurrences were discovered in November 2011 by Sama along the 19 km-long Gangbapleu Ridge. Surface boulders led to the discovery of the first occurrence (Bounta North) of massive chromite over a 500 m long x 300 m wide area. Sama subsequently identified up to three subparallel layers of massive chromites alternating with FeO-rich material. The second occurrence (Bounta South) was discovered 10 km south of the first one. The discovery outcrop shows block of massive chromite (8 m length x several m wide) flanked on both sides by gabbroic units leading to a thick pyroxenite member at the base of the perceived layered complex. This pyroxenite member, which displays similar texture and composition to the Samapleu Deposits’ Ni-Cu host rock, is located 15 km to the north. Sama has since identified several additional massive chromite block clusters in the region. The preliminary model developed for those occurrences has been generated by incorporating Sama’s surface mapping and trenching together with IP and magnetometer ground survey data. Characteristics of the occurrences have been compared to deposits with similar characteristics and geological settings to form an updated conceptual model. Literature (USGS open file 2010) shows that massive chromite deposits occur as a combination of many textures: disseminated, banded, semi-massive or massive layers. Massive chromite mineralization at the Gangbapleu Ridge occurrences appears at surface as massive chromite layers.

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7.4.1 LITHOLOGICAL DESCRIPTION: MASSIVE CHROMITE OCCURRENCES Surface samples, partially weathered, comprise dark grey to black-brownish material with grain size ranging from 0.3 to 3.0 mm with >90% automorph chromite crystals with colloidal goethite weathered rims (surface samples only). High porosity can be observed between crystals and bright reflective sulphide phases within chromite crystals (Figure 7.17). Top images show sub-automorph chromite crystals with colloidal goethite weathered rims (surface samples). High porosity can be observed between crystals and bright reflectance sulphide phases within chromite crystals.

Figure 7.17 Thin Section Images from Massive Chromite Material

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8 DEPOSIT TYPES 8.1 NICKEL, COPPER AND PGE DEPOSITS MODEL According to conventional classification schemes of Ni sulphide deposits, the Samapleu Deposits are considered to be a differentiated mafic-ultramafic intrusion. As per many such studied intrusions, Samapleu deposits are related to tectonic activity; they are deformed (faulting and folding), often contain cross-cutting igneous rock types and display metamorphic features. The host intrusions consist of a series of cumulates ranging from olivine cumulates to gabbroic, with pyroxenite-type rocks prevailing. Layering is a prominent feature and can be recognized in drillholes. Small intrusion-like Samapleu complexes do not show cyclic units, but several tens of cyclic units may be recognized in larger intrusions. The magmatic Ni, Cu and PGE deposits are subdivided into two major subgroups: the “ultramafic-associated nickel, copper, and PGE” and the “gabbroid-associated nickel, copper, and platinum group elements” (O.R. Ekstrand, 1984). The Samapleu Deposit is an ultramafic Ni-Cu-PGE deposit type. Host rocks for ultramafic associated Ni-Cu deposits are subdivided into three major types:  volcanic peridotite nickel;  intrusive dunite nickel;  intrusive ultramafic nickel-copper. The Samapleu Ni-Cu-PGE deposits relate to the intrusive ultramafic Ni-Cu category and have the general geological and metallogenic criteria described by the following characteristics:  Geological Setting: Proterozoic mafic volcanic belts and Archean greenstone belts.  Host Rocks or Mineralized Rocks: Ultramafic intrusive lenses, less magnesian than volcanic peridotite Ni and intrusive dunite Ni, adjacent metasedimentary and metavolcanic rocks.  Form of Deposits, Distribution of Mineralized Material: Intrusive ultramafic Ni-Cu material may comprise either 1) rich segregations at margins (basal contacts were interpretable) of ultramafic lenses, as at Agnew, Pipe and Manibridge; or 2) conformable internal zones of disseminated sulphides, as at Mt. Keith. Remobilization of sulphides into veins, breccia matrices, and disseminations in fault zones and wall rocks is common (Barnes and Lightfoot, 2005).  Genetic Model: Partial melting of the mantle is thought to have produced highly magnesian liquid (>20% Mg in the following Archean komatiitic host rock subtypes: volcanic peridotite nickel and intrusive dunite nickel). In the case of deposits containing rich basal concentrations of nickel sulphide, the liquid apparently became saturated with respect to sulphur prior to, or at an early stage of, crystallization. The resulting immiscible nickeliferous sulphide droplets became segregated by flow and gravitational settling and gave rise to rich basal sulphide concentrations in the ultramafic flows and sills. In the case of deposits consisting of internal zones of disseminated sulphide, sulphur saturation was apparently reached at a later stage of crystallization, probably in situ within the ultramafic flows and sills.

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The intrusive ultramafic Ni-Cu subtype is presumed to be of similar genesis, but involved liquid that was less magnesian. 8.2 MASSIVE CHROMITE OCCURRENCES OF THE GANGBAPLEU RIDGE 8.2.1 INTRODUCTION Literature such as USGS open file 2010 shows that massive chromite deposits usually occur as a combination of four textures: disseminated, banded, semi-massive or massive layers. Massive chromite mineralization at the Bounta occurrences at Gangbapleu Ridge appears at the surface as massive chromite layers. The following is a résumé of the essential characteristics of massive chromite deposits taken from available literature, including USGS open file 2010. 8.2.2 GEOLOGICAL CHARACTERISTICS Massive chromites are made up of unique spinels that form stratified deposits in layered igneous intrusions. The spinel chromite is the only commercial type of chromium, having a composition of +2 +3 (Mg, Fe ) O (Cr, Al, Fe ) O3. Some substitutions can occur with Mn, Ni, Zn, Co, V and Ti. Chromite is a hard, dark brown-to-black mineral with a density of approximately 4.5. It is generally accepted that chromite deposits are classified as stratiform or podiform types. The stratiform type is the most commonly observed. Chromite deposits are formed as a primary magmatic differentiate during early olivine and chrome-spinel crystal fractionation of basaltic liquid at an oceanic spreading centre: (1) as massive to disseminated pods and lenses of chrome-spinel surrounded by a dunite envelope within depleted mantle harzburgite; or (2) as massive to disseminated cumulate layers in dunite at the base of the crustal plutonic section. Early fractional crystallization of chromite from a basaltic liquid either: (1) just below the crust-mantle transition (syn. petrological MOHO) in small magma pockets or possibly conduits within the residual mantle harzburgite; or (2) immediately above the crust-mantle transition as cumulate layers within dunite at the base of the axial magma chamber. Pods and lenses in harzburgite obtain their diagonistic shape as a result of subsolidus to hypersolidus ductile deformation due to mantle convection. Stratiform deposits are characterized by massive chromite deposits occurring within layered magmatic complexes as layers of great lateral persistence with consistent stratigraphic positioning within their host igneous sequence. According to Vermaak (1986), stratiform massive chromite deposits, along with their host complexes, occur in stable cratonic areas and are characterized by their extreme lateral persistence and depth extensions. Economic massive chromite concentrations are generally observed in proximity to the crust-mantle transition zone and are restricted to dunite bodies in tectonized harzburgite below this transition, or lower dunitic portions of ultramafic cumulate sections above it. Examples of this type of deposit include the Bushveld Complex in South Africa, the great Dike in Zimbabwe, the Kemi deposit in Finland, the Stillwater Complex in the United States, the Campo Formosa and Jacurici Valley in Brazil, the Muskox intrusion and the Bird River Sill in Canada. The largest complex of the world is the Bushveld Complex of South Africa. The Bushveld is one of the major chromite producers with several well-known chromite layers, including the UG1, UG2 and MG layers of which the UG2 also contains significant amounts of PGE's. The UG1 and UG2 have a thickness of 1.29 m and 1.68 m respectively, with Cr2O3 grade of 43.70% and 44.67%. The MG layer has an average thickness of 6.55 m with Cr2O3 grade of 37.80%.

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9 EXPLORATION The geological understanding of the PR 123 area has evolved greatly since the commencement of the Sama exploration strategy in 2009. Since the publication of the 2012 NI 43-101 Technical Report, an additional CA $2.4 M was spent in exploration work until March 2013. 9.1 SAMA EXPLORATION WORK, 2009 TO MARCH 2013 9.1.1 SAMAPLEU NI-CU+PGE DEPOSITS In March 2009, Sama Nickel Corporation established grid layouts overlying the main Samapleu Deposit and possible extension as well as Ni and Cu in-soil anomalies in the vicinity of Yorodougou village and in the northwest corner of the property, over the Sipilou South Ni-Co laterite deposit. In September and October 2009, a 60 line/km IP survey was completed over the three grids by the geophysical contractor Société Nouvelle de Géophysique of Abidjan, Côte d’Ivoire (“SNG”). Measurements were taken at 50 m intervals on each 100 m- to 150 m-spaced lines. SNG collected the data and performed the interpretation. Thereafter, Abitibi Geophysics, Val d’Or, Quebec, Canada audited SNG’s results and interpretation. SNG’s interpretation of the IP survey outlined six features with strong conductivities at both the Samapleu and Yorodougou grids. The audit performed by Abitibi Geophysics’ confirmed the size and the location of SNG’s interpreted IP anomalies. In January 2010, SNG performed a total of 48 line/km of ground magnetic survey over the Samapleu and the Yorodougou grids and measurements were taken at 12.5 m intervals on each line. The aim of the ground magnetic survey was to discriminate with more accuracy the geological contacts between ultramafic units. Exploration activities, other than drilling, performed by Sama on the PR 123 since March 2010 include are presented in Table 9.1. In April 2012, Xcalibur Airborne Geophysics, an airborne geophysical survey company based in South Africa, performed a 13,556 km/line magnetometer and radiometric airborne survey (Figure 9.1 to Figure 9.3). The survey covered the entire PL 123 as well as part of Sama’s Lola property in the neighbouring Republic of Guinea. In addition to delineating thrust fronts and faults, the survey generated several areas of exploration interest. Geological reconnaissance over these targets are continuing From December 2012 to January 2013, Fugro Airborne Surveys, a geophysical survey company based in South Africa performed a 3,300 line/km of Helicopter Time Domain Electromagnetic and Magnetic survey (“HTEM”), on a combination of 100 m and 200 m line spacing, covering the most promising areas of the Samapleu exploration license (Figure 9.4).A total of 282 km of line cutting was performed by Sama in support to various exploration activities, including geological mapping and geophysical surveys. Line cutting consist at preparing a narrow walking trail by cutting excess vegetation allowing easy walk through thick buses, reference pegs showing the line number and the station is planted every 50 m along each lines. Since that the project area is in a fairly remote mountainous sector with poor infrastructure, Sama’s exploration team realised more than 102 km of access roads in order to give access to field crews and to drilling equipment.

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Geological mapping was performed by Sama’s geological team using available walking trails and /or cut lines, the geological information is compiled updating the geological map and also stored into a GIS database.

Tableau 9.1 Summary of Exploration Work to Date on PR 123 2013 Activities Units 2010 2011 2012 (June) Cumulative

Line cutting Km 182.5 20.5 49 30 282 Geophysics IP / surface Km 85 38.5 22.5 143.5 Geophysics Mag / surface Km 75.5 52 22.5 150 Geophysics Down hole Km 35 0 0 35 Geological mapping Km 56 20.5 49 22 147.5 Drill site access Km 55 16 36 20 127 Drill site platforms # 38 150 154 17 359 Borehole survey # 0 150 47 197 Pits Pits 12 1 0 13 (103.5) Pionjar holes Pits (m) 0 0 59 59 (350.6) Trenches # (m) 0 0 8 8 (550)

9.1.2 CHROMITES OCCURRENCES OF THE BOUNTA-GANGBAPLEU RIDGE Chromite occurrences along the Bounta-Gangbapleu Ridge were discovered in November 2011 by Sama through regional geological mapping and rock sampling activities. Since the discovery of the first occurrence in the sector called Bounta North, numerous other surface occurrences were identified as isolated large blocks distributed discontinuously over more than 10 km of strike length. 9.1.3 REGIONAL EXPLORATION WORK A total of 98 stream sediment samples were collected in the northwest corner of the PR 123. Numerous targets for follow-up have been generated from the stream sediment survey (Figure 9.5) Sama performed regional mapping and sampling work over a large part of PR 123 and only over a relatively small portion of the newly acquired PR 300. The PR 300 remains largely unexplored as access is difficult, roads and trails need to be built. Figure 9.6 is showing a geological compilation and interpretation based on the work performed until July 2013.

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Figure 9.1 Xcalibur High Resolution Airborne Survey, Magnetic Analytic Signal

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Figure 9.2 Xcalibur High Resolution Airborne Survey, Radiometric Potassium (K) signal.

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Figure 9.3 Xcalibur High Resolution Airborne Survey, Radiometric Thorium (Th) signal.

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Figure 9.4 Fugro Electro-Magnetic high resolution, raw data.

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Figure 9.5 2010 Stream Sediment Sampling Program; Results (Ni ppm) and Areas for Follow-up (the airborne magnetic response in the background)

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Figure 9.6 Geological Compilation of the Project Area Showing Drill Targets as a Follow-up on the HTEM Survey

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10 DRILLING 10.1 SAMA 2010-2012 DRILLING PROGRAM Starting in March 2010, Sama’s 2010-12 drill programs were contracted to Orex Africa SARL of Abidjan, Côte d’Ivoire, which, during the course of 2010, changed name to Global Exploration Services SARL (“GES”) of Abidjan, Côte d’Ivoire. A track mounted YDX-3L wire line drill rig type was used throughout. The Phase 1 drilling program was terminated at the end of July 2010. The Phase 2 drilling program started in November 2010 and terminated in November 2011. The Phase 3 drilling program started in May 2012 and terminated in July 2012. Table 10.1 summarizes the drilling programs from July 2010 to July 2012.

Table 10.1 Drilling programs from July 2010 to July 2012 Area Drillholes Total Lengths (m)

Main Deposit 71 10,630 Samapleu Extension 1 44 7,044 Sipilou Sud Laterite 80 2,668 Gangbapleu 4 735 Regional 18 2,387 Total 2010-2012 217 23,484

Sama has performed a total of 217 boreholes for a total of 23,484 m from March 2010 to July 2012. Seventy-one (71) holes for 10,630 m were drilled at the Samapleu Main Deposit. The Samapleu Extension 1 Deposit was discovered by Sama in June 2010 after drilling a surface geophysical IP anomaly. Forty-four (44) holes for 7,044 m were drilled at the Samapleu Extension 1 Deposit and at sector SM34. Eighty (80) boreholes for a total of 2,688 m were drilled at the Sipilou South Laterite Deposit, four holes for 735 m were drilled at the Yorodougou dike (SM19), six holes for 689 m were drilled at the Bounta Nord sector following up on massive chromite occurrences and 12 holes for 1,698 m were executed as regional reconnaissance. 10.2 SAMA 2013 DRILLING PROGRAM From January 2013, Sama used its own drilling rig, a track mounted Coretech CSD 1300G. Since then all drilling activities were performed internally. A total of 13 holes were drilled for 2,320 m at the Samapleu Extension 1 and 4 holes were drilled for 617 m at the Santa target area between January 4 and June 24, 2013 (Cf.: Fig. 9.6). Table 10.2 summarizes drilling performed at the project area from January 4 to June 24, 2013. These holes were not included in the mineral resource database due to the late reception, and validation, of assay results. Collar locations for these holes are not surveyed. These holes were not audited by the QP and are not part of the mineral resources.

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Table 10.2 Drilling Performed between January and June 2013 Area Drillholes Total Lengths (m)

Main Deposit 0 0 Samapleu Extension 1 13 2,320 Regional (Santa) 4 617 Total Nov 2012 to July 2013 17 2,937

Figure 10.1 shows the location for boreholes drilled at the Samapleu Deposits. Appendix C and Appendix D present the coordinates, azimuth and dip for all boreholes drilled at the Samapleu Deposits, and the depth of the relevant sampled and assayed intervals. Although most boreholes were planned to intersect mineralization as perpendicular as possible to the general strike and dip, there are a few occasions where the true thickness of mineralization is not well established.

Figure 10.1 Samapleu Deposits: Drilling 2010-12 & 2013

Core logging and sampling was performed at Sama’s facility in Yorodougou village (see Section 11 for sampling methods and QA/QC). 10.3 METHODOLOGY For every hole, the drill rigs were positioned on prepared drill pads over a global positioning system (“GPS”) surveyed and pegged collar location and oriented by alignment by positioned front sights. The drill head was then set to the desired inclination. In addition to site leveling, drill pad preparation also involved the completion of hand dug, unlined sumps to store and recapture return waters.

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Holes were cased through overburden and then drilled to recover NQ sized core (50 mm in diameter) through the entire length of borehole. Depth of weathering typically ranged from a few metres to 45 m. Upon completion of the hole, the steel casing was extracted and a 3 m long casing rod was left in order to keep the hole open for possible borehole survey or re-entry. Drillholes are marked with concrete monuments inscribed with the drillhole number, the orientation and the length of the hole. Upon completion of the drilling, the drill site is reclaimed. Any refuse or surplus material is removed and all water sumps are filled in and the site leveled. The site is then inspected by a geologist/technician and the drill foreman. A detailed environmental inspection checklist is completed and a photo taken to provide a record of the reclamation of the site. There are no drilling, sampling or recovery factors that could materially impact the accuracy and reliability of the results. 10.3.1 BOREHOLE NAMING CONVENTION The adopted system for naming the drillholes primarily consists of a subdivision of the entire area in blocks of 800 m x 800 m dimensions based on UTM coordinates. All boreholes fall within the 800 m x 800 m block naming system. Borehole names are formed using an 11-digit character as per the following template: SMWW-XXXYYY. The first two digits, ‘SM’, represent the Samapleu Deposits prospect area within PR 123; ‘WW’ represents the block number; ‘XXX’ and ‘YYY’ represent the distance going east from the specific block’s top left corner and the measure going south from the block’s top left corner. This system links the borehole name to its exact position in the field to the closest metre. Example: Hole SM44-423357 is located in Block 44, 423 m east and 357 m south of the upper left corner (Figure 10.2).

Figure 10.2 Borehole Naming Convention

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10.4 DRILLHOLE RESULTS AND INTERPRETATION Drilling campaigns realized by Sama allowed the discovery of the Samapleu Extension 1 Deposit mineralization and improved the geological definition of the two mafic and ultramafic complexes, leading to a better comprehension of the Samapleu Main Deposit. Geological mapping performed by Sama’s team have identified additional mafic and ultramafic complexes throughout the Exploration Permit, from which two new sectors were outlined as highly prospective for additional mineralization: one zone within the southwest member of the 2.2 km long Extension 1 host and the other being a 1.5 km long Yorodougou Dike. The following drilling geological sections allowed for a better understanding of the geology of these two deposits (Figure 10.3 to Figure 10.7). A longitudinal section at the Samapleu Main Deposit is presented in Figure 10.8). All significant results for the different drillholes realized on the property by Sama are presented in Appendix D.

Figure 10.3 Samapleu Main Deposit - Vertical Cross Section 10400NW

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Figure 10.4 Samapleu Main Deposit - Vertical Cross Section 10475NW

Figure 10.5 Samapleu Main Deposit - Vertical Cross Section 10525NW

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Figure 10.6 Samapleu Extension 1 Deposit - Vertical Cross Section 5075 NE

Figure 10.7 Samapleu Extension 1 Deposit - Vertical Cross Section 5225 NE

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Figure 10.8 Longitudinal Section of Samapleu Main Deposit

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11 SAMPLE PREPARATION, ANALYSES AND SECURITY 11.1 SAMPLES DEPOSITS NICKEL-COPPER EXPLORATION 11.1.1 LOGGING AND SAMPLING PROCEDURE Core logging and sampling were performed at Sama’s facility in Yorodougou village. Sample methodology and approach employed by Sama’s geologists were based on standard internationally accepted procedures and are described below. Core handling and processing involved the following steps:  the core is placed in clearly marked 4 m wooden boxes;  the core is secured and transported to Yorodougou base camp;  the core is photographed;  geological logging;  bulk density measurements taken;  magnetic susceptibility measurements are taken every metre;  the core is marked and sampled; and  retained core is stored in on-site core storage facility. Diamond drill core was NQ-sized. Drill core was retrieved in maximum 3 m runs. At the drill site, Sama’s technicians were responsible for the control of the drilling, stopping of holes, upkeep of core run records, logging of core recovery, and the marking of drill core and core boxes. Core boxes were built on-site by Sama’s carpenters. They were built to contain up to 4 m of core. At the end of each shift, all core boxes were carefully transported to the core processing facility at Yorodougou base camp for logging, sampling and selective bulk density samples. Drill core was photographed and geologically logged and marked by the geologist prior to sampling. Standard and accepted industry practice was employed for the sampling of drill core. Sample intervals ranged from less than 1 m to a maximum of 1.5 m, but typically 1 m in keeping with geological logging. The wider sample interval lengths were taken within the same or similarly wider lithological units to compensate for any variations in core recoveries between runs, or for sampling-preserved barren material. Geologists and core handlers marked a reference line on the drill core prior to sampling to ensure sampling consistency and that sampling is perpendicular to structures and observed fabrics. Bulk density samples mostly consisted of 10 to 15 cm lengths of the whole core. The rest of the core was sampled taking a half-core split for analysis and placed in tagged plastic bags with a sample ticket inserted and the sample number written in permanent marker. On the completion of density measurements, bulk density samples were returned to the core box with half of a sample included in the corresponding sample. Bags were secured by stapling the folded end.

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A half-split of drill core was retained and stored in the core box for future reference, with sample intervals marked on the core box with the use of metal tags. In total, 8,385 samples were taken and sent for preparation and analysis from the Sama’s diamond drillholes (figures exclude quality control samples). Core logging and sampling were performed at Sama’s facility in Yorodougou village. Sample preparations were performed at the sample preparation facility of Société de Développement de Gouessesso (“SODEGO”) in Gouessesso village. All samples are assayed for Ni, Cu, Co, Fe, S, Pt, Pd, Rh and Au using sodium peroxide fusion and assay values are determined by inductively coupled plasma optical emission spectrometry (“ICP EOS”). 11.1.2 COLLAR SURVEY In July 2011, Sama commissioned Envi Tech Surveyors from Abidjan to undertake borehole collar location surveys. Several topographic control points were installed and subsequently used to complete borehole collar surveys using twin handheld GPS. Downhole orientation surveys for each drillhole were collected at the end of each hole using a Flexi MultiMate survey tool. 11.1.3 SAMPLE PREPARATION AND ANALYSIS During the Phase 1 drilling program, all sample preparations were performed at SODEGO’s sample preparation facility under Sama’s supervision (Figure 11.1). Sample pulps were delivered to the facilities of SGS South Africa Pty (SGS SA) in Yamoussoukro and then dispatched by SGS Canada directly to their assay laboratory in South Africa. SGS SA is accredited by the South African National Accreditation System for International Organization for Standardization (“ISO”) 17205.

Figure 11.1 Core Logging and Sampling Facility

All samples were assayed for Ni, Cu, and Co using peroxide fusion ICP-OES and assayed for Pt, Pd and gold using fire assay ICP-OES finish (grade values greater than 1,000 ppb are re-analyzed using fire assay ICP-OES finish for detection as ppm or g/t levels).

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During the Phase 2 drilling program, sample preparations for the Ni-Cu+PGE sulphide exploration program were performed at SODEGO’s sample preparation facility. Sample pulps were delivered to Bureau Veritas Mineral Laboratory’s facility (“BVML”) in Abidjan, Côte d’Ivoire, and then dispatched by BVML directly to their assay laboratory, Ultra Trace Pty in Perth, Australia. During the months of June to September 2012, BVML dispatched Sama samples to their laboratory in Rustenberg, Republic of South Africa. This procedure was stopped as soon as Sama became aware of the change in laboratory which was not previously disclosed. Several batches of samples were re- analysed by BVML at their Ultra Trace Pty, laboratory in Perth, Australia. Results are presented on Figures 11.16 and 11.18. BVML operates a quality management system which complies with the requirements of ISO 900: 2008 under certificate No. FS 34143. Ultra Trace Pty complies with ISO/IEC 17025: 2005 under accreditation No. 14492. Rustenberg laboratory complies with the South African National Accreditation System (“Sanas”) and with ISO/IEC 17025: 2005 under No. T0551. Samples were fused with sodium peroxide and the melt was subsequently dissolved in diluted hydrochloric acid for analysis. All samples are assayed for Ni, Cu, Co, Fe, S, Pt, Pd, Rh and Au using ICP OES. Ultra Trace Pty analyzed the samples by firing a 40 grams (approximately) portion of the sample. Lower sample weights may be employed for samples with very high sulphide and metal contents. This is the classical fire assay process that will give total separation of Au, Pt and Pd in the sample. 11.1.4 CORE AND PULP / REJECT STORAGE All half core (NQ size) splits from the logging tables were placed in sequence in four in-house prefabricated rows in treated wooden boxes with an average capacity of 4 m of core per box. Core boxes are stored in order by hole/box number in an enclosed and secured concrete floored shed located at Gouessesso village and also at the Sama’s exploration camp in Yorodougou village. Access to both sites are secured and manned with a watchman on a full-time basis. Pulp and reject samples were placed in bags and stored in Gouessesso village. 11.1.5 MAGNETIC SUSCEPTIBILITY AND GAMMA LOG ANALYSIS Drill cores were routinely measured for magnetic susceptibility using a Terraplus Inc. KT-9 digital magnetic susceptibility metre hand-held measuring device. Magnetic susceptibility was measured for all cores with a minimum of three measurements per metre of core and then averaged. This information is stored in the database for use in geological logging and further deposit analysis and interpretation. 11.1.6 BULK DENSITY ANALYSIS Bulk density factors (“BDF”) were determined by Sama in its facility in Yorodougou camp. A total of 789 representative samples of 10-15 cm lengths of core from each rock type were observed at the Samapleu Deposits. Density was measured using a standard procedure described below and results are presented in Table 11.1:  the wet sample weight was measured in air;  the sample was placed on a platform suspended from the scale in a bath of water and weighed under water;  the volume of the core sample was calculated;  the wet bulk density was calculated by dividing the weight of the wet sample in grams by its volume in cubic centimeters;

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 the sample was dried for approximately 2 to 3 hours at ~100°C;  the dry sample was weighed in air;  the free moisture content was calculated using the weight of contained water divided by the weight of the wet sample expressed as a percentage; and  the dry bulk density was calculated using the wet bulk density and the free moisture content.

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Table 11.1 Density Factors for Each Rock Type and Mineralized Material within the Samapleu Deposits Facies % NB SG SG Moisture Ni Cu Co Pt Pd Au Sulphide sample dry wet % % % % g/t g/t g/t

Quartzite (Granite) 16 2.72 2.72 0.05 0.01 0.02 0.00 0.03 0.06 0.03 Gneiss 15 3.13 3.14 0.08 0.06 0.06 0.01 0.05 0.06 0.02 Diorite 14 3.70 3.70 0.10 0.20 0.23 0.01 1.52 0.28 0.22 Gabbro 73 3.28 3.28 0.09 0.13 0.21 0.01 0.13 0.21 0.05 Anorthosite 3 2.89 2.89 0.07 0.58 0.32 0.04 0.02 0.02 0.02 Fault zone 9 3.18 3.18 0.07 Peridotite 95 3.31 3.39 2.33 0.28 0.28 0.02 0.10 0.32 0.05 Pyroxenite barren 92 3.33 3.33 0.07 0.19 0.14 0.01 0.07 0.26 0.03 <=10% 229 3.35 3.35 0.14 0.17 0.11 0.01 0.09 0.26 0.04 >10% 196 3.50 3.51 0.28 0.39 0.36 0.02 0.12 0.51 0.04

Semi-Massive to Massive Sulphides Net Texture 50% 28 3.67 3.67 0.20 1.02 0.59 0.05 0.17 1.45 0.05 Semi-Massive >40 -90% 13 4.43 4.44 0.08 2.75 2.79 0.10 0.33 2.01 0.36 Massive > 90% 6 5.12 5.13 0.12 4.25 2.62 0.16 0.02 2.93 0.28

Total 789

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11.1.7 SECURITY AND CHAIN OF CUSTODY All sample and data collection was handled by Sama’s personnel on-site. Core was covered and tied at the drill site, ensuring every measure was taken to eliminate any contamination and security breach during the transfer of core from the drill site to Sama’s processing facility in Yorodougou. Samples collected by Sama were then transported to SGS SA’s facilities in Yamoussoukro for the first drilling sequence, and then to BVML in Abidjan for the second drilling period. Sample bags were always under Sama’s care during transportation. Upon arrival, custody of the samples was handed over to either SGS SA’s preparation facility or BVML. In all cases, dispatch sheets were used and signed to confirm dispatch and receipt of sample batches. Data security was ensured by the immediate transfer of hard copy logs and records into Microsoft Excel software at the Yorodougou site warehouse. Upon receipt of digital files containing assay results, all data was validated through a QA/QC process and subsequently exported to Gemcom software for further processing. Hard copy logs and sample record sheets are retained for reference. 11.1.8 SAMAPLEU DEPOSITS NICKEL-COPPER+PGE EXPLORATION: QA/QC Sama used very thorough QA/QC procedures during the entire 2010-2012 drilling campaign. Several control samples (described below) were inserted by Sama during the flow of regular core sampling. Period 1: March to July 2010  one pre-prepared pulverized sample of standard material;  one sample of coarse blank material; and  one pulp duplicate sample.

Period 2: November 2010 to November 2011  one pre-prepared pulverized sample of standard material from a selection of standards with high, medium and low Ni content;  one sample of coarse blank material; and  one pulp duplicate sample.

Period 3: May 2012 to July 2012  one pre-prepared pulverized sample of standard material from a selection of standards with high, medium and low Ni content;  one sample of coarse blank material; and  one pulp duplicate sample. During the first drilling period, a total of 132 control samples were inserted (53 standards, 26 blanks and 43 duplicates), representing 7% of the batch total. These are in addition to the eight control samples and six duplicates routinely used by SGS SA on every batch of 80 samples. A total of 206 check samples, representing 12% of the batch total; were sent to Ultra Trace Pty. During the second drilling period, the control samples (209 standards, 105 blanks and 156 duplicates) were inserted, representing 7.3% of the batch total, in addition to the five control samples and two duplicates (randomly selected) routinely used by Ultra Trace Pty on every batch of 50 samples. During the third drilling period, the control samples (14 standards, 11 blanks and 14 duplicates) were inserted, representing 5.5% of the batch total, in addition to the five control samples and two duplicates (randomly selected) routinely used by Veritas Rustenburg on every batch of 40 to 50 samples and by Ultra Trace Pty on every batch of 50 samples.

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A total of 70 check samples, representing 10% of the batch total, were sent to SGS Canada laboratory in Lakefield, Ontario, Canada.

11.1.8.1 BLANKS First drilling Period: March to July 2010 Two different blank sample types were used as blank material, inserted at approximate intervals of 1 for every 60 samples, and submitted to BVML. A total of 28 blanks were used by Sama in the exploration program in 2010, comprising 1.6% of the total samples submitted for analysis. During the first drilling sequence, Sama used pulverized blank material collected from a stock of blank quartz/feldspar material collected in the vicinity. During the second drilling period, pre-prepared blank material was supplied by BVML. Approximately 125 g blank material samples were inserted in the sample run. The assay results from blank samples were considered to be satisfactory. Second drilling period: November 2010 to November 2011 Two different blank samples types were used as blank material, inserted at approximate intervals of 1 for every 60 samples, and submitted to BVML. A total of 79 blanks were used by Sama in the exploration program in 2011, comprising 1.6% of the total samples submitted for analysis. During the first drilling sequence, Sama used pulverized blank material collected from a stock of blank quartz/feldspar material collected in the vicinity. During the second and third drilling periods, pre-prepared blank material was supplied by BVML. Approximately 125 g blank material samples were inserted in the sample run. The assay results from blank samples were considered to be satisfactory.

11.1.8.2 STANDARDS First drilling period: March to July 2010 Sama inserted a pulp standard prepared in-house (Figures 11.2 and 11.3). Second and third drilling periods: November 2010 to November 2011, May 2012 to July 2012 During the second drilling period, three pre-prepared standards were used. The in-house standard, as per the first drilling phase (Figures 11.4 and 11.5), a standard material supplied by Veritas (Figures 11.6 and 11.7) and a pre-prepared pulp standard material purchased from OREAS, Perth, Australia (Figures 11.8 and 11.9). Only the OREAS standard material has been used since June 2011. Table 11.2 summarizes the composition for each standard used.

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Table 11.2 Standards with Nickel Values Used by Sama Standard Element Standard value

First Drilling Period Sama Nickel Ni 2,335 ppm Cu 1,198 ppm Second Drilling Period Sama Nickel Ni 2,335 ppm Cu 1,198 ppm Veritas Ni 1,298 ppm Cu 1,140 ppm CRM: OREAS 73A Ni 1.44% Ni

Figure 11.2 Sama Resources Inc. In-House Standard Variability, First Period - Nickel

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Figure 11.3 Sama Resources Inc. In-House Standard Variability, First Period - Copper

Figure 11.4 Sama Resources Inc. In-House Standard Variability, Second Period - Nickel

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Figure 11.5 Sama Resources Inc. In-House Standard Variability, Second Period - Copper

Figure 11.6 Veritas CRM Variation - Nickel

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Figure 11.7 Veritas CRM Variation - Copper

Figure 11.8 OREAS CRM Variation - Nickel

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Figure 11.9 OREAS CRM Variation - Copper

Due to the lack of some correlation on inserted standard samples within the batches sent to Veritas Rustenburg laboratory, RSA, Sama has requested BMVL to re-assay these batches at their Ultra Trace laboratory in Australia. Table 11.3 shows the batch and the number of samples that have been requested for re-assay. Figures 11.10 and 11.11 show that despite discrepancies observed with standard samples inserted within these batches, the resultant re-assay shows acceptable variations.

Table 11.3 Veritas: Rustenburg vs. Ultra Trace Batch No. Samples No. Certificate

Sulphide Samapleu SM010606-SM010836 231 u100708 Sulphide Samapleu SM011103-SM011302 200 u100997

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Figure 11.10 Veritas Rustenburg CRM vs. Ultra-Trace Pty Correlation - Nickel

Figure 11.11 Veritas Rustenburg CRM vs. Ultra-Trace Pty Correlation - Copper

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11.1.8.3 CHECK SAMPLES: SGS CANADA Check assays were conducted on selected samples, initially at Ultra Trace Pty in Perth, Australia, and then at SGS Canada’s laboratory in Lakefield, Ontario, Canada. For the first phase of drilling, the assay techniques were slightly different than those of SGS SA and Ultra Trace Pty, which explains some of the variations observed (Figures 11.14 and 11.15). Identical assay methodologies were used by Ultra Trace Pty in Perth, Australia, and SGS Canada’s laboratory in Lakefield, Ontario, Canada, for the second drilling program (Figures 11.12 and 11.3, as well as Figures 11.16 and 11.17). A total of 344 check samples were submitted to SGS Canada during the 2010-2012 drilling campaign; representing 4.1% of the total batch (Figures 11.18 and 11.19). SGS laboratory in Canada have returned systematic lower bias in nickel and copper when assaying OREAS 73A standards (Figures 11.12 and 11.3) which explains some discrepancies observed between Veritas and SGS Canada for check samples (Figures 11.14 to 11.19). SGS Canada was requested to comment on these observed low biases. SGS Canada replied clearly that for the Ni, SGS Canada shows a slight low bias on the OREAS 73, but this low bias is similar to that shown by BVML around points #65 and #72 (Figures 11.20 and 11.21). Furthermore, SGS Canada indicated that the certification for OREAS 73 was done primarily by laboratories using Borate Fusion XRF and ICP-OES. SGS Canada’s use of peroxide fusion could be a contributing factor to the low bias. SGS Canada believe that they can confirm BVML data for the live samples, but agree that SGS Canada appear to be low biased to BVML on the OREAS 73A. Regarding the review of the laboratory certificates to check for eventual anomalous results and/or faulty procedures (sample weights on reception, elements assays, report assay formats, etc.), it appears that the laboratory certificates are in accordance with the industry’s best practices concerning the format of the certificates, the elements used, the method used for assaying, the detection limits and the units used. No major anomalies were detected. In summary, the checked assays demonstrate that the assays can be reproduced with satisfactory precision.

Figure 11.12 SGS OREAS CRM Variability (%) - Nickel

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Figure 11.13 SGS OREAS CRM Variability (%) - Copper

Figure 11.14 Check Samples: SGS SA vs. Veritas, Nickel % Values; First Drilling Program (n: 116)

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Figure 11.15 Check Samples: SGS SA vs. Veritas, Copper % Values; First Drilling Program

Figure 11.16 Check Sample: Veritas vs. SGS Canada, Nickel % Values; Second Drilling Program (n: 157)

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Figure 11.17 Check Sample: Veritas vs. SGS Canada, Copper % Values; Second Drilling Program

Figure 11.18 Check Sample - Veritas vs. SGS Canada, Nickel % Values; Third Drilling Program

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Figure 11.19 Check Sample: Veritas vs. SGS Canada, Copper % Values; Third Drilling Program

Figure 11.20 OREAS CRM – Nickel Continuity Lab Comparison

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Figure 11.21 OREAS 73A Nickel and Copper CRM Values/SGS Canada and BVML Labs

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12 DATA VERIFICATION Consulting geologist Dr. M. A. Ben Ayad, P.Geo., co-author of this Report, visited PR 123 for personal inspection from April 19 to 22, 2012. He reviewed and compiled information on logging, QA/QC, densities, sampling, assay results and drilling database, with assay certificate cross-checks to ensure the data integrity for the resource update. Dr. Ben Ayad also reviewed the data from the drilling completed since March 2010, as well as the procedures used for estimating the mineral resources. During the site visit, the QP also noted that the geology as indicated by the drillholes matched the descriptions contained in the geological sections used in this Report. 12.1 QUALIFIED PERSON CHECK SAMPLE Consulting geologist Dr. Ben Ayad, P.Geo., co-author of this Report, was contracted first by Sama (April 2012) and then, with PJLGC represented by Mr. Pierre-Jean Lafleur, P.Eng., by WSP (November 2012) to conduct a general review of the exploration work performed by Sama and to supervise the mineral resources estimation process for the Samapleu Deposits. In April 2012, Dr. Ben Ayad requested that check assays be conducted on 22 selected samples at SGS Canada’s laboratory in Lakefield, Ontario, Canada. Originally, 29 samples were selected for verification. Only 22 samples were sent in relatively small quantities. The check samples are duplicates of existing samples in the database. Therefore, the material available for more testing is limited. Dr. Ben Ayad requested to follow the same protocol that Sama used, including blanks and standards. Neither Sama’s personnel nor SGS Canada’s laboratory used blanks or standards for the check samples. One of the difficulties of carrying out the sample check program in Côte d’Ivoire is obtaining the permits required to ship or carry samples across borders. This is the reason why the check sample program follows closely with Sama’s protocol. The values for the low-grade samples (less than 1% Ni) match the values in the database. The values for the high-grade samples were significantly lower in the check samples, but not critically so given the program’s conditions. Ni and Cu had an average of 13% and 14%, respectively, below the average values in the database (Table 12.1 and Figure 12.1). This behavior can now be explained with reference to Section 11.1.8 where SGS confirmed returning low bias on Ni and Cu values on standards and, consequently, in relation to BVML assays. In summary, the checked assays demonstrate that the assays can be reproduced with satisfactory precision.

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Table 12.1 QP Check Samples vs. Database Values SGS Check Sample Database data Type Sample ID Ni Cu Co Pt Pd Weight Ni Cu Co Pt Pd % % % g/t g/t g % % % g/t g/t

SMP SM010471 0.62 0.49 0.05 0.04 0.73 65.10 0.60 0.44 0.04 0.08 1.02 SMP SM010503 0.63 0.96 0.03 0.06 1.1 66.30 0.63 0.94 0.03 0.06 1.00 SMP SM001932 0.80 1.82 0.04 0.4 0.43 77.70 0.98 2.19 0.05 1.27 0.69 SMP SM001916 0.92 0.98 0.05 0.05 0.69 55.80 1.01 1.08 0.05 0.05 0.66 SMP SM001915 0.94 0.33 0.04 0.04 0.33 60.00 0.93 0.32 0.05 0.07 0.48 SMP SM001935 0.98 0.84 0.05 0.03 0.68 55.50 1.12 0.97 0.05 0.06 0.74 SMP SM001913 1.17 2.12 0.06 0.04 0.67 65.50 1.30 2.32 0.06 0.05 0.68 SMP SM010523 1.24 0.25 0.08 0.05 2.04 65.90 1.27 0.26 0.07 0.04 1.99 SMP SM010449 1.30 0.26 0.08 0.02 1.55 74.30 1.29 0.27 0.08 0.03 1.64 SMP SM000697 1.35 0.69 0.07 0.02 1.92 47.10 1.49 0.71 0.08 0.04 2.36 SMP SM001936 1.37 0.95 0.07 0.03 0.88 71.10 1.62 1.12 0.07 0.03 0.98 SMP SM001914 1.43 0.73 0.07 0.04 0.78 76.80 1.52 0.78 0.07 0.04 0.82 SMP SM001917 1.46 1.10 0.07 0.05 0.96 83.10 1.82 1.41 0.09 0.06 1.08 SMP SM010445 2.29 0.24 0.1 0.52 2.48 67.40 2.28 0.23 0.10 0.50 2.55 SMP SM010557 2.41 0.17 0.13 0.02 2.47 52.50 2.57 0.18 0.13 0.02 1.96 SMP SM010573 2.55 0.21 0.13 0.02 2.5 72.20 2.72 0.22 0.13 0.02 2.32 SMP SM001927 2.97 0.63 0.13 0.02 1.53 70.60 3.63 0.80 0.15 0.01 1.68 SMP SM002319 3.29 4.37 0.13 0.02 3.2 48.30 3.92 5.29 0.15 0.01 3.39 SMP SM002324 3.30 1.39 0.12 0.02 2.89 39.10 4.29 1.83 0.16 0.02 3.61 SMP SM001926 3.41 0.70 0.15 0.02 2.15 75.40 4.14 0.87 0.17 0.01 2.47 SMP SM002320 3.55 2.32 0.14 1.59 2.99 33.40 4.40 2.84 0.17 1.53 2.73 SMP SM002323 3.86 1.07 0.15 0.02 3.19 38.40 4.85 1.37 0.19 0.01 4.00 Average 1.90 1.03 0.09 0.14 1.64 61.89 2.20 1.20 0.10 0.18 1.77 Difference in % 13% 14% 10% 22% 7%

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Figure 12.1 Check Samples: BVML vs. SGS, Nickel % Values

As a result of the site visit and discussions in the field and at Sama’s office in Montreal, the QP was satisfied that the Samapleu Deposits’ exploration program, QA/QC program and work on the corresponding database have been appropriately undertaken and that the database can be used as the basis for the 2012 mineral resource estimate.

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13 MINERAL PROCESSING AND METALLURGICAL TESTING Metallurgical testing programs were conducted in two phases. The first phase was completed in 2010 by SGS Canada Lakefield laboratory (“SGS Canada”) and focused on performing mineralogical studies and carrying out the first flotation tests ever done on the ore from the deposit, developing a suitable flotation flowsheet for the treatment of the supplied representative material and on benchmarking each individual sub-composite (SGS Report, 2011). A conceptual flowsheet based on the Locked Cycle test was considered. The second phase of the test work was carried out in 2012 by CTMP in Thetford Mines, Quebec, Canada, in order to produce an acceptable bulk Ni-Cu concentrate at reasonable recoveries and to develop an initial processing flowsheet. The option to evaluate the potential of developing a flowsheet that would combine a pre-concentration step followed by flotation of the enriched product (CTMP report, 2013) was also explored. 13.1 SGS CANADA TEST WORK (2010) SGS Canada and Blue Coast Metallurgy Ltd were commissioned by Sama in 2010 to conduct mineralogical and metallurgical studies on core samples taken from the Samapleu Deposits’ mineralized zones. The objective was to identify a suitable and economical process for the beneficiation of the minerals in the ore. A total of 171.5 kg of representative core samples were sent to SGS Canada in the fall of 2010 in order to perform the following:  quantitative mineralogical study;  metallurgical test program (flotation testing);  testing for the production of a pyrrhotite concentrate;  initial testing to explore potential upgrading by the use of heavy liquid separation.

This test work program was conducted on the following composites created by SGS Canada:  Composite 1 (high grade): massive sulfide composite;  Composite 2 (low grade): 0.24% Ni composite (Table 13.1);  Composite 3 (average grade): 0.53% Ni composite (Table 13.1). The assay head values of the three composites are summarized as follows.

Table 13.1 Head Chemical Analysis (SGS Canada, 2011) Sample ID Au Pt Pd Cu Co Ni S g/t g/t g/t % % % % Ref. ID

Comp 1 Massive 0.08 0.08 1.88 1.71 0.072 1.71 14.8 Comp 2 Low Grade 0.09 0.12 0.39 0.34 0.016 0.24 1.93 Comp 3 Average Grade 0.07 0.16 0.63 0.52 0.029 053 3.99

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13.1.1 MINERALOGICAL ANALYSIS

Copper is found mainly in the form of chalcopyrite (CuFeS2) whereas nickel is present in three forms:

 as Ni sulphides, mostly pentlandite ((Fe, Ni)9S8);  within the pyrrhotite matrix;  contained within silicates.

Pyrrhotite is the dominant sulfide in the ore and contains 8.7% to 9.6% of pentlandite (Sama, 2012). Tables 13.2 and 13.3 show the mineralogical composition of the Sama Deposit samples.

Table 13.2 Resource Average Composite Mineralogy

Chalcopyrite 2.0 Pyrrhotite 8.3 Pentlandite 1.6 Quartz 0.1 Feldspar 2.0 Orthopyroxene 61.6 Clinopyroxene 8.6 Mineral Mass Amphibole 11.0 (%) Chlorite 0.8 Biotite 0.5 Clays 0.1 Fe Oxides 0.5 Spinels 2.8 Others 0.2 Total 100.0

Table 13.3 Nickel Specification – Composite 3 (Rivard et al. 2012)

MINERAL NAME COMPOSITE 3

Pyrrhotite 9.4 Pentlandite 86.5 Orthopyroxene 3.0 Clinopyroxene 0.6 Amphibole 0.5 Total 100.0

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13.1.2 FLOTATION TESTING SGS Canada conducted a series of 11 bench-scale flotation tests on the three aforementioned composites and one locked cycle test (LCT) on Composite 3. These tests were conducted using sodium isopropyl xanthate (SIPX) as primary collector, isobutyl dithiophosphate (S-3477) as secondary collector, methyl isobutyl carbinol (MIBC) as frother and lime (CaOH) as pH regulator. SGS Canada focused their test work on the study of the following parameters:  flotation kinetics;  degree of size reduction;  rougher flotation pH. The results of these tests showed that:

 there was no grind effect on flotation performance for samples with a P80 ranging between 150 µm and 250 µm;  raising the pH up to 8.8 has no effect on the selectivity of pentlandite flotation. To confirm the batch tests conditions and results, an LCT was carried out on Composite 3 according to the following conventional flowsheet with the recirculating streams (see Figure 13.1).

Figure 13.1 Locked Cycle Flowsheet (SGS Canada, 2011)

The results of the LCT are presented in Table 13.4. Per assay results, the final bulk concentrate was 8.72% Ni and 9.76% Cu (Ni+Cu = 18.48%) with recoveries of 74.6% for Ni and 89.3% for Cu. The Co recovery was lower at 65.4% (Rivard et al. 2012). PGM grades in the final concentrate are 6.42 g/t for Pd, 1.06 g/t for Pt and 0.44 g/t for Au with respective recoveries of 48%, 31%, and 30% (Rivard et al., 2012). The LCT results represented a considerable improvement over both the open circuit recovery data and concentrate grade.

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Table 13.4 Results of Locked Cycle Testing Product Weight Assays, % Distribution %

Dry % Cu Ni S Co Cu Ni S Co

2nd Cl Conc 94.0 4.7 9.76 8.72 0.37 0.37 89.3 74.6 41.0 65.4 1st Cl Scav Tail 93.2 4.7 0.41 1.17 0.04 0.04 3.7 10.0 24.6 7.1 Ro Scav Tail 1814 90.6 0.04 0.09 0.01 0.01 7.1 15.4 34.4 27.5 Combined Tail 1907 95.3 0.06 0.15 0.01 0.01 10.7 25.4 59.0 34.6 Head (calculated) 2001 100 0.51 0.55 0.03 0.03 100 100 100 100

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13.1.3 HEAVY LIQUID SEPARATION TESTING Heavy liquid separation testing was carried out at SGS Canada to investigate the potential for a pre- concentration stage occurring after crushing to a very fine material. The results demonstrated that 30% by weight can be eliminated, resulting in 7% of Ni and 14% of Cu losses (Rivard et al., 2012). 13.2 CTMP THETFORD MINES TEST WORK (2012) In early June 2012, four barrels containing bags totaling 235.9 kg of crushed ore (CTPM, 2013), was received at CTMP, Thetford Mines, Quebec, in order to undertake flotation testing and develop a conceptual process flowsheet. The contents of the four barrels was blended and then divided again into four homogenized samples for testing. A total of 15 tests including batch flotation tests and two LCTs were performed with this material. 13.2.1 PHYSICAL CHARACTERISTICS OF THE MINERAL SAMPLES The following characteristics were determined in the CTMP laboratory:  bond Work Index: 13.9 kwh/t;  specific gravity: 3.24 kg/dm3;  bulk density (-10 mesh): 2.03 kg/dm3. 13.2.2 MINERALIZED MATERIAL CHEMICAL ANALYSIS The average results of the chemical analysis for three of the four samples are presented in Table 13.5.

Table 13.5 Average Head Assays (CTMP, 2013)

Element Ni Cu Fe SiO2 Al2O3 MgO CaO Co S

Assay (%) 0.30 0.24 13.76 49.83 6.71 22.03 5.11 0.16 1.65

It is noted that assays on individual sub-samples varied and that the average of the samples assayed was 0.23% Ni and 0.24% Cu. 13.2.3 PRE-CONCENTRATION It was observed during testing that the sulphide minerals were located in the fine fraction. This was further examined in order to remove a part of the gangue by classifying the feed material by size as a pre-concentration step. Tests showed that by milling to 65 mesh (210 microns), 47.5% of the mass could be rejected in the +65 mesh stream (+210 microns) along with losses of 17.34% Cu and 16.32% Ni. Based on these results, it was decided to adopt this approach to reduce the high load of gangue minerals in the flotation circuit (CTMP, 2013). 13.2.4 FLOTATION TESTING Flotation test work was carried out in two parts. The first part was based on grinding and reagent conditions which were determined by SGS Canada during the 2010 campaign. This test work includes five batch tests and an LCT. The LCT was performed in five stages using the parameters of the batch test which had given the highest overall recoveries.

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Table 13.6 Locked Cycle Test LCT-1 Results (CTMP, 2013) Test Conditions Weight Assays % Distribution % Number Product % Cu Ni Cu Ni

LCT-1 Rghr time = 14 min 2nd clnr con 5.2 3.96 3.82 80.2 72.3

Total clnr time = 13 min 1st clnr scav tail 6.2 0.13 0.23 3.0 5.1

Lime = 105 g/t Ro Scav tail 88.6 0.05 0.07 16.8 22.6

SIPX = 100 g/t Combined tail 94.8 0.03 0.08 19.8 27.7

A3477 = 25 g/t

Head (calc) 0.26 0.28

As expected, the nickel recovery was greatly improved by the recirculating of the first cleaner scavenger concentrate and the second cleaner tail. However, the final concentrate grade has not increased and remained lower than required. The second part of the CTMP flotation test work aimed to introduce size separation as a pre- concentration of the ore in the mill discharge and to explore other opportunities for increasing the Ni and Cu concentration. This could be done by reducing the content of pyrrhotite through magnetic separation or depression. After grinding at a P80 of 212 µm, the ore was subjected to size separation to remove the fraction greater than 212 µm. Therefore, a series of eight flotation tests were executed with a size fraction less than 212 µm to study the influence of magnetic separation and depression of pyrrhotite on grades and recoveries of Ni and Cu in the final concentrate (Tests F6 to F13). The results showed that 15 to 20 % of nickel was going to the magnetic concentrate. Also, copper floated more readily when the pyrrhotite was removed, giving a cleaner copper concentrate. During this test work, it was decided to recirculate the magnetic flotation concentrate back into the second cleaning stage, but other options could also be evaluated. 13.2.5 LOCKED CYCLE TEST LCT-2 To confirm the test results as stated above, a second LCT was performed in eight stages using the same operating parameters as test F12. The results gave good overall recoveries and final concentrate grade. The last five stable stages of the LCT were used for the metallurgical balance provided in Table 13.7.

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Table 13.7 Locked Cycle Test LCT-2 Results (CTMP, 2013) Test Conditions Weight Assays % Distribution % Number Product % Cu Ni Cu Ni

LCT-2 Rghr time = 14 min 2nd clnr con 3.2 5.76. 4.72 73.7 61.6

Total clnr time = 13 min 1st clnr scav tail 2.8 0.18 0.27 2.0 3.1

Mag float = 3.5 min Ro Scav tail 70.8 0.05 0.07 14.4 20.6

Lime = 105 g/t Coarse reject 21.9 0.09 0.09 8.0 8.2

SIPX =100 g/t Mag float tail 1.3 0.33 1.22 1.8 6.6

A3477 = 25 g/t Combined tail 96.8 0.07 0.10 26.3 38.4

Aero 7261 = 100 g/t

Head (calc) 0.25 0.24

The results indicate that a final concentrate with 5.76% Cu and 4.72% Ni can be obtained with a weight yield of 3.2% and respective recoveries of 73.7% and 61.6%. The losses in the combined tail contain 26.3% Cu and 38.4% Ni. About 54% of these losses are contained in the rougher tails. Some samples taken from LCT-2 were sent to SGS Canada for detailed assaying. The results of this analysis are provided in Table 13.8. 13.2.6 PROPOSED PROCESS FLOWSHEET A preliminary flowsheet including crushing, grinding and flotation was developed based on the conceptual flowsheet designed by CTMP. It reflects the results of the initial test work carried out to date by SGS Canada and CTMP and forms the basis for the simplified flowsheet and processing cost development in this Report. A simplified flowsheet is shown on Figure 13.2 for reference.

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Table 13.8 Locked Cycle Test LCT 2 Results (SGS Canada, 2011) Product Weight Assays, % Distribution %

Dry % Cu Ni S Au Pt Pd Ag Co Cu Ni S Au Pt Pd Ag Co

Bulk 2nd Cl Conc 1091.1 2.7 5.63 4.71 30.2 0.45 1.23 5.13 10.4 0.21 73.1 51.4 46.0 30.7 25.8 37.8 40.5 28.6 Cl Tail and Mag Tail 2171.9 5.4 0.50 0.98 11.6 0.17 0.51 1.62 0.06 0.09 13.0 21.2 35.3 23.4 45.9 23.8 0.4 25.4 Ro Tail Sample 28167.8 70.4 0.02 0.07 0.30 0.02 0.04 0.15 0.45 0.01 6.7 19.7 11.9 35.2 21.7 28.5 45.3 35.2 Plus 65 mesh rejected 8569.2 21.4 0.07 0.09 0.57 0.02 0.04 0.17 0.45 0.01 7.1 7.7 6.8 10.7 6.6 9.8 13.8 10.7

Head (calc.) 40000 100 0.21 0.25 1.79 0.04 0.13 0.37 0.70 0.020 100 100 100.0 100.0 100.0 100.0 100.0 100 (direct)

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Figure 13.2 Simplified Flowsheet

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13.3 CONCLUSIONS AND RECOMMENDATIONS Sama mineral deposit samples are characterized by relatively low levels of Ni and Cu. Also, due to the presence of pyrrhotite, the flotation process produces a concentrate with modest contents of Ni and Cu (as per seen in other mining operations such as Phoenix Deposit in Botswana). The following conclusions were drawn from the test work carried out by SGS Canada (2010) and CTMP (2013).  SGS Canada Test Work:

 Pyrrhotite is the dominant sulfide and contains 9.6% of pentlandite. Consequently, it creates a problem in flotation because pentlandite can be carried with pyrrhotite when it is depressed.

 The results obtained from the flotation kinetic study performed by SGS Canada (Tests F2, F4 and F6) on composite 3 show that the rougher flotation kinetic decreases with the ore size. This demonstrates that fine particles require more time to float.

 CTMP Test Work:

 The Sama mineral deposits samples can be pre-concentrated by size classification to remove a portion of gangue minerals.

 The final bulk concentrate from the LCT-2 test resulted in 5.76% Cu and 4.72% Ni with respective recoveries of 73.7% and 61.6%. The following are WSP’s recommendations to improve the bulk concentrate recovery and grade. 13.3.1 IMPROVEMENT ON METAL RECOVERY  Carry out a trade-off study to examine the possibility of keeping the +212 µm fraction of the ore that contains 8.0% Cu and 8.2% Ni. Presently, this fraction is eliminated to tailings and represents approximately a 22% feed weight fraction.  Carry out a size, chemical and mineralogical analysis in order to provide reasons for the Cu and Ni losses to rougher tails (14.4% Cu, 20.6% Ni). Based on the results of these analyses, further solutions can be proposed (if applicable) such as:

 extending the rougher flotation circuit by adding a rougher scavenger circuit;

 installing a hydrocyclone to recycle the coarse particles to the ball mill;

 reviewing the reagents used in the flotation circuit. 13.3.2 HIGHER CONCENTRATE GRADE The product recovered during the rougher flotation stage (approximately at 30 seconds) proved to have a relatively high grade (SGS Canada, 2011, Tests F2, F6 and F11) with 9.38 to 11.4% Ni and 9.54 to 11.3% Cu and respective recoveries of 43.8 to 50% and 44.7 to 59.4% with a weight yield of 2.4 to 2.7%. This demonstrates that first stage rougher concentrate has strong flotation kinetics that should be further investigated. We therefore recommend performing similar tests on a lower grade sample in order to confirm if the same kinetics can be obtained. On a side note, we believe that sending this rougher flotation high grade product directly to final concentrate could be beneficial in increasing its grade. It will also help alleviate the re-grinding and cleaning circuits.

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14 MINERAL RESOURCE ESTIMATES Consulting geologists Mr. Lafleur, Eng., and Dr. Ben Ayad, P.Geo., of PJLG were contracted by WSP to conduct a general review of the Samapleu Deposits and to establish the mineral resources update for the Samapleu Deposits, with the help of Gemcom software. The effective date of the resource is December 11, 2012. The mineral resource estimates update of the Samapleu Deposits is based on 110 boreholes for a total of 17,143 m and includes the Samapleu Main and Samapleu Extension 1 Deposits, which are 1.3 km from each other. The Samapleu Main Deposit is drilled on a 25 m x 50 m drill pattern, while the Samapleu Extension 1 Deposit is drilled on a 25 m x 25 m and 50 m x 50 m grid spacing. 3D block model updates were created by Sama’s geologist, Dr. Marc-Antoine Audet, P.Geo., and controlled by the authors of this Report for each sector. Estimation was conducted using Gemcom software with Ordinary Kriging as the interpolation method. Mineral resources update for the Samapleu Deposits are reported as 0.10% Ni cut-off grade value. At the time of preparing this Report, Dr. Ben Ayad and Mr. Lafleur were not aware of any modifying factors such as environmental, permitting, legal, title, taxation, socio-economic, marketing and political or other relevant issues that may materially affect the mineral resource estimates herein; nor that the mineral resource estimates may be affected by mining, metallurgical, infrastructure or other relevant factors. 14.1 SAMAPLEU DEPOSITS Dr. Ben Ayad and Mr. Lafleur have reviewed the newly updated database using GEMSTM, a Gemcom software, as well as the 3D models of the Ni-Cu mineralization for both the Samapleu Main and Samapleu Extension 1 Deposits. The outline of the sulphide-rich material was modeled using 2010- 2012 drillhole data. As described in Section 7, the Ni-Cu+PGE mineralization at the Samapleu Deposits are associated mostly with the primarily disseminated sulphide and occurs in the ultramafic and mafic members, but they are more frequent and more abundant in the ultramafic. They are present in all cumulates (from trace to 10%, locally more than 50% sulphides). Pyroxenite and peridotite are the most sulphide-enriched rock types and constitute the mineralized envelopes of the Samapleu Deposits (Figures 14.1 and 14.2).

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Figure 14.1 Samapleu Main Deposit; Section 10475NW

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Figure 14.2 Samapleu Extension 1 Deposit; Section 5075NE

At the Samapleu Main Deposit, the mineralized envelope forms two main bodies separated by a low southwest dipping inverse fault. The upper body forms a large oblong lens plunging roughly 40° toward the northeast and is open at depth, while geometry of the lower body still needs to be better understood, using the available data, it forms a tabular body plunging at approximately 70° towards the northeast. The sulphide lenses are interpreted as stratigraphically embedded while some other massive to semi-massive sulphide lenses were tectonically emplaced following sulphide remobilization of the disseminated primary sulphide mineralization. At the Samapleu Extension 1 Deposit and as per the Samapleu Main Deposit, the mineralized envelope forms a tabular body of 50 m to 100 m wide and 175 m long that plunges roughly 75° towards the southeast and is open toward the southwest and toward the northeast, as well as at depth. The tabular body is flanked on both sides by gneiss. The mineralisation at the Samapleu deposits is open laterally along strike and at depth. The Samapleu mineralised material compared very well with other existing open cast mining operations in Africa and worldwide whereby the mineralisation type, metallurgical characteristics, expected mining and processing processes and environmental factors allow favorable comparisons. Table 14.1 shows existing open cast operation with comparable characteristics in terms of grade, mineralogy and metallurgy.

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Table 14.1 Projects Presenting Comparable Characteristics to Samapleu PARAMETERS SAMAPLEU TATI PHOENIX KEVITSA DUMONT Location Cote d'Ivoire, Africa Botswana, Africa Finland Canada Status Early Exploration Production Production Authorized, EPCM awarded Geology Gabbroic to pyroxenitic host rock. Gabbroic to pyroxenitic host rock. Property geology is dominated by olivine pyroxenite Dumont sill; ultramafic-mafic complexes. and its variations. Mineralization Cu-Ni mineralization associated with disseminated Cu-Ni mineralization associated with disseminated sulphide Mineralisation is disseminated with some minor Large low-grade to medium-grade disseminated sulphide mineralization as well as with veins and mineralization with veins and lenses of massive to semi- massive sulphide veins. Pyrrhotite is the main nickel deposit and the contact type nickel-copper- lenses of massive to semi-massive sulphide. The massive sulphide. The massive sulphide veins occur within an sulphide mineral followed by chalcopyrite and platinum group elements (PGE) occurrence massive sulphide veins occur within an envelope envelope of disseminated mineralization within the meta-gabbro. pentlandite. discovered in 1987. of disseminated mineralization within the meta- PGEs occur associated with the disseminated pyrrhotite- gabbro. PGEs occur associated with the pyrrhotite- pentlandite-chalcopyrite mineralization. pentlandite-chalcopyrite mineralization.

Resources M+I 14.159Mt (0.24% Ni; 0.20% Cu) (Cf. Table 14.7) 124Mt (0.23% Ni, 0.27% 111Mt (0.30% Ni, 0.21% Cu) 240Mt (0.30% Ni; 0.41% Cu) 1,665.6 Mt (0.27% Ni) (Tonnage (grade)) Cu) (2005, JORC compliant) (2011, NI43-101 compliant) (2013, NI43-101 compliant) (2005, JORC compliant) Inf. 26.480Mt (0.24% Ni; 0.18% Cu) (Cf. Table 14.7) (2011) 35Mt (0.29% Ni; 0.36% Cu) 499.8 Mt (0.26% Ni) C.O.G. 0.1% Ni (Cf. Section 14.5) 0.1% Ni 0.1% Ni 0.1% Ni 0.15% Ni Depth (m) Known depth of deposits: not specified Open pit: 290m Deposit: < 500m; Open pit: 560m - Samapleu Main <250 meters; Open pit: ≈300 m - Samapleu Extension 1 <160m Recovery Process A preliminary flowsheet including crushing, Crushing, dense media separation, flotation circuit and Primary crushing, pebble crushing, AG mills, Crushing and grinding; desliming; slimes flotation, grinding and flotation was developed based on the magnetic separation. flotation of Ni and Cu in bulk concentrate, removal nickel sulphide rougher flotation, nickel sulphide conceptual flowsheet designed by CTMP. (Cf. of pyrothine through flotation. cleaning flotation, magnetic recovery of sulphide Section 13.2) rougher tailings, regrind of magnetic concentration and sulphide 1st cleaner tailings and nickel alloy rougher and cleaner flotation. Type Ni-Cu Concentrate (Cf. Section 13.2) Ni-Cu Concentrate Ni-Cu Concentrate Ni Concentrate % recovery 62% on Ni; 74% on Cu (Cf. Section 13.2) (2005) 71.7% on Ni; 81.9% on Cu (2012) 49% on Ni; 84% on Cu ≈43% on Ni Production Not applicable 1.7 Mtpa run-of-mine (average) 3.138 Mt ore (Aug-Dec 2012) (planned 5 Mtpa) 105,000 tpd run-of-mine (planned) ≈ 38 Mtpa Operating Cost $10.19 per tonne for processing and In 2005 US$: 1.18 /T mining; 8.4 /T (2012) Cash Cost a ($/lb): $5.47 for Ni and $1.28 for 2013 US$ (/T milled): administration (Cf. Section 14.5) processing and administration Cu Mining $3.89; In 2012 US$: 1.44 /T mining; 10.23 /T (2012) Cash Cost a ($/t milled): $22.39 Processing and administration: $5.30 processing and G&A (2010) Mining Cost ($/T mined): $2.48 average Commodity(ies) price(s) 7.50$/lb Ni and 3.00$/lb Cu (Cf. Section 14.5) (2005) US$/lb: 3.50 for Ni; 0.80 for Cu (2011) US$/lb: 7.50 for Ni; 2.25 for Cu US$ 9.00/lb Ni

Reference(s) N/A Dirks 2005 Dirks 2005; Lower Quartile Solutions, Gregory et al. 2011; 2012 Financial report Ausenco Minerals and Metals (2013, July) 2006

Legend M+I: Measured and Indicated Mineral Resources Inf. Inferred Mineral Resources COG: Cut-off-Grade Notes a) Cash costs include all mining and processing costs less any profits from by-products such as gold, cobalt, or platinum group elements. b) Pre-feasibility Study (revised), after Ausenco (2012).

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The mineralisation at the Tati and Phoenix deposits in Botswana shows similar characteristics to the Samapleu mineralisation where the host rock is gabbroic to pyroxenitic and the disseminated mineralisation is composed of pyrrhotite, pentlandite and chalcopyrite in proportion ranging from trace to cm size aggregates According to Dirks 2005, the Phoenix-Tati deposits have the following characteristics:  Cu-Ni mineralization in the pit is associated with disseminated sulphide mineralization as well as with veins and lenses of massive to semi-massive sulphide.  Ore minerals include pentlandite and chalcopyrite that have formed in close association with pyrrhotite, which constitutes the dominant sulphide phase.  Past exploration and mining activity has demonstrated that the massive to near massive mineralization occurs as discontinuous veins and trails of lenses, to define a conjugate geometry that is related to the geometry of pegmatite veins.  The massive sulphide veins occur within an envelope of disseminated mineralization within the meta-gabbro. PGE’s occur associated with the pyrrhotite-pentlandite-chalcopyrite mineralization.  Massive mineralization occurred later and probably resulted from reactivation of sulphide mineralization along later structures. First Quantum Mineral’s (FQM) Kevitsa deposit is dominated by olivine pyroxenite and its variations. The Mineralisation is disseminated with some minor massive sulphide veins. Pyrrhotite is the main sulphide mineral followed by chalcopyrite and pentlandite. Royal Nickel’s deposit is part of the Dumont sill, one of at least five ultramafic-mafic complexes in the Amos area, northern Quebec, Canada. Two types of mineralization have been identified historically within the Dumont sill, the primary large low-grade to medium-grade disseminated nickel deposit (Ausenco, 2013) and the contact type nickel-copper-platinum group elements (PGE) occurrence discovered in 1987 (Ausenco, 2013). Disseminated nickel mineralization is characterized by disseminated blebs of pentlandite, heazlewoodite and awaruite. The ultramafic rocks have been serpentinized to varying degrees from partial to complete serpentinization therefore nickel can also occur in the crystal structure of several silicate minerals including olivine and serpentine. The proposed flowsheet for Samapleu (Cf. section 13) is similar to those from Tati-Pheonix, Kevitsa and Dumont:  Phoenix: According to the website of Norilsk Nickel Africa, owner of Tati-Phoenix operations, the copper and nickel is recovered into a bulk Cu-Ni concentrate through a heavy mineral separation circuit coupled to a typical floatation circuit. According to feasibility study prepared by Lower Quartile Solutions (PTY) in 2006 (LQS 2006), metal recoveries on the Phoenix deposit are 72% and 82% for nickel and copper respectively.  Kevitsa: According to Gregory et al. (2011) and to First Quantum 2012 Financial Report, the Kevitsa mine produces a bulk Cu-Ni concentrate through a series of crushing and grinding operations, flotation of Ni and Cu in bulk concentrate and removal of pyrothine through flotation. The 2012 financial statements reported a metal recovery of 49% and 84% on nickel and copper respectively.  Dumont: The proposed process encompasses crushing and grinding of the Run of Mine material, desliming via hydrocyclone circuit, slimes flotation, nickel sulphide rougher flotation, nickel sulphide cleaning flotation, magnetic recovery of sulphide rougher tailings, regrind of magnetic concentration and sulphide 1st cleaner tailings and nickel alloy rougher and cleaner flotation. According to 2013 feasibility study (Ausenco, 2013) nickel the recovery on the material from the mineralized material averages 43%.

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The Samapleu mineralisation shared numerous similitudes to the above deposits, in addition of being an eventual open cast operation mining disseminated sulphide mineralisation hosted in mafic-to ultramafic sequences, the Samapleu mineralisation has the distinctive advantage of being exempt of olivine and/or serpentine in the mineralisation paragenesis, which simplified the eventual floatation float sheet. Metallurgical testing is at the early stage for the Samapleu mineralisation, more tests are needed for further enhancing metals recoveries (Cf. Section 13) as per seeing at the Tati-Phoenix deposits. The operating costs of the deposits presented as analogous comparison are also presented in Table 14.1:  Dumont presented much lower processing cost, deeming the :

 Tati/Pheonix comparison: . Using an average escalation rate of 2.5% per year, the Tati/Pheonix Processing and Administration costs present in 2005 feasibility study would be about $1.44/T for mining and $10.23 /t for processing and administration.

 Kevitsa comparison: . Based on QP data base for multiple projects, mining costs for comparable project would average about $3.00 per tonne of mined material. . With 3:1 stripping ratio, the mining cost expressed would be approximately $12.00 per tonne of ore milled. . According to FQM’s 2012 financial report, cash cost (see note below) as Kevitsa if $22.39 per tonne of ore milled. . We can approximate that the processing and administrative costs (Cash cost less mining cost) for Kevitsa would be about $10.39 per tonne milled.

 Discussion: . Labour costs in Côte d’Ivoire are significantly lower than those in Finland. . It is the QP opinion that processing and administration costs for Samapleu would be similar to what is described above. Note: Cash costs include all mining and processing costs less any profits from by-products such as gold, cobalt or platinum group elements

Table 14.2 Confidence Level of Key Characterisation for Samapleu Deposits Mineral Resources

Item Discussion Confidence

Drilling Techniques DDH – industry standard approach High Geological logging is completed using standard Logging High nomenclature and apparent high quality Acceptable recoveries determined for the majority of the Drill Sample Recovery High drilling. Sample Preparation Industry standard for diamond drilling High Extensive quality control data available and has been Quality of Assay Data Moderate to High assessed. The majority of quality control data is acceptable. Verification of Sampling Umpire assaying completed which indicates robust analytical Moderate and Assaying data.

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Item Discussion Confidence

Data Density and The current data spacing is considered appropriate for High Distribution resource evaluation Database Integrity No Material errors identified High The interpreted lithological boundaries are considered robust Geological and of high confidence. Mineralisation boundaries are Moderate to High Interpretation determined by the mineralised pyroxenite. Mineral resource estimates were performed using three Estimation and dimensions block models estimation with Ordinary Kriging Moderate to High Modeling Techniques interpolation methodologies on 5 x 5 x 2 m blocks at each of the Samapleu Main and Samapleu Extension 1 As an exploration project, a series of cut-off grade of Ni were used. The mineral resources was reported using a COG of Cut-off Grades Moderate 0.1%Ni, as per Tati, Phoenix, and Kevitsa Projects (now operating mines). A 5% mining dilution factor and a mining recovery of 100% Mining Factors or were applied to the block model for the Mineral Resource Assumptions estimation.

It is the opinion of PJLG that the mineral resource defined at the Samapleu exploration project is showing adequate shape, quantity, grade (mineral quality) and metallurgical characteristics, which is comparable to several other existing exploration and open cast mining operation in Africa and elsewhere in the word. It is at the early stage exploration and it has a reasonable prospect for economic extraction. 14.2 DATABASE INTEGRITY The resource modelling was carried out using GEMS software and data stored in a GEMS database. GEMS uses the Microsoft Jet database engine. Drilling, surveying and assay data were managed in Microsoft Excel and GEMS software and then using the Microsoft Access software database which provides a number of built-in data validation features. Assay results from BVML were delivered electronically in a pre-defined Microsoft Excel software format and imported directly into Microsoft Excel software and then into the GEMS software database. Assay results are linked with the appropriate sample drillholes and sample intervals in Microsoft Excel software. The structure and content of the GEMS software database was reviewed in April 2012 and in April 2013 by Dr. Ben Ayad with the help of Gemcom’s expert Mr. Lafleur. 14.3 MINING FACTOR A 5% mining dilution factor and a mining recovery of 100% were applied to the block model for the Mineral Resource estimation. 14.4 METALLURGICAL FACTORS No metallurgical factor was used in the resource estimates. See Item 13. More metallurgical tests are needed to fully characterise the optimal recovery and the processing route. Nickel recovery presented in this report is similar to what the existing mill at Tati project produced for Pheonix samples and the 2012 results from Kevitsa operations. As mentioned in Section 13.3, there are various possible courses of action to increase grade recovery.

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14.5 CUT-OFF GRADES Mineral resource estimates for the Samapleu Deposits have been reported in Table 14.3 using a range of cut-off grade of Ni from 0.05% Ni up to 0.5% Ni. A 0.1% Ni cut-off grade was selected as the most appropriate based on the economic parameters detailed below. Because Samapleu project is an early stage exploration, QP has used an analogous method to define reasonable assumptions for economic parameters. The data was extracted from operation statistics or latest feasibility studies of operating mines (Cf.: Table 14.1). The QP considers this approach to follow industry standards to support mineral resource estimation for an early stage exploration project such as Samapleu. 1. Metal Price: 7.50$/lb Ni, 3.00$/lb Cu (See Historical Long-Term Prices in Figure 14.3). 2. No credit for cobalt, platinum, palladium, gold and rhodium. 3. A 5% mining dilution factor and 100% mining recovery. 4. Processing and administration costs of $10.19 per tonne milled, which would be similar to Tati/Pheonix and Kevitsa processing and administration costs presented in Section 14.1.

 Operating conditions for potential extraction of the mineral resource at Samapleu will be similar to those find in Botswana and Finland, with respect to labour costs and energy (fuel and electricity);

 Labour costs in Côte d’Ivoire are significantly lower than those in Finland and comparable to labour in Botswana;

 Fuel cost in Côte d’Ivoire is higher than in Botswana but lower than Finland (source: www.globalpetrolprices.com);

 Electricity cost in Côte d’Ivoire are lower than in Botswana and similar to those of Finland;

 Climate conditions in Côte d’Ivoire are similar to those met in Botswana;

 It is the QP opinion that processing and administration costs for Samapleu would be similar to what is described above. 5. Bulk concentrate with metal recoveries of 73.7% and 61.6% for nickel and copper respectively (Cf. Section 13.2). 6. A Nickel and Copper mixed concentrate 50% smelter payback.

 Smelter payback for a bulk Ni-Cu concentrate is within a range of 40% to 60% of contained metal depending on PGM credit. A 50% smelter payback was used to achieve 0.1% Ni cut-off grade. Because of the bimetal mode, Figure 14.4 better illustrate the use of the 0.1% Ni cut-off grade. The nickel and copper value move up and down in sync as economic condition varies (See Table 14.3). General Equation to calculate the Cut-Off Grade (COG): 푃푟표푐푒푠푠푖푛푔 퐶표푠푡 퐶푂퐺 = 푁푒푡 푃푟표푑푢푐푡 푃푟푖푐푒 푥 %푅푒푐표푣푒푟푦 Samapleu adjusted ‘simplified’ formula for COG (Unit Conversion Factors): 푃푟표푐푒푠푠푖푛푔 퐶표푠푡 퐶푂퐺 = ((푁푖 푃푟푖푐푒 × %푅푒푐표푣푒푟푦 푁푖) + (퐶푢 푃푟푖푐푒 × %푅푒푐표푣푒푟푦 퐶푢)) × 푆푚푒푙푡푒푟 푃푎푦푏푎푐푘 $10.19 /푇 푥 100% − 푇 0.135% 푁푖 + 퐶푢 = (($7.50 /푙푏 × 61.6%푖) + ($3.00 /푙푏 × 73.7%)) × 50% × 2204.623푙푏/푇 Or 0.1% Ni alone.

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Figure 14.3 Long-Term Metal Price Forecast

5.00 24.00 30 Years Historical Metal Prices 22.00 for Nickel and Copper 4.50

20.00 4.00

18.00 3.50 16.00 3.00 14.00 12.00 2.50 10.00 2.00 8.00

Nickel Price inUSD/lb PriceNickel 1.50 Copper Price in USD/lb Pricein Copper 6.00 1.00 4.00 2.00 0.50

0.00 0.00

Jun-97 Jun-85 Jun-86 Jun-87 Jun-88 Jun-89 Jun-90 Jun-91 Jun-92 Jun-93 Jun-94 Jun-95 Jun-96 Jun-98 Jun-99 Jun-00 Jun-01 Jun-02 Jun-03 Jun-04 Jun-05 Jun-06 Jun-07 Jun-08 Jun-09 Jun-10 Jun-11 Jun-12 Jun-13

Nickel Copper

Figure 14.4 Bimetal Cut-Off Grade Graphic

0.45 0.40 Average Grade 0.35 0.2% Cu, 0.24% Ni

0.30 0.25 0.20 Copper % Copper 0.15 0.10 Not Economic 0.05 0.00 0.00 0.05 0.10 0.15 0.20 0.25 Nickel %

A similar cut-off grade of Ni is used for mineral resources in other world-class Ni-Cu deposits around the world, including the Norilsk’s Tati and Phoenix Nickel deposits in Botswana (see Table 14.1). Table 14.3 presents the cumulative mineral resources tonnage above various nickel cut-off grades.

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Table 14.3 Samapleu Deposit Mineral Resources above Nickel Cut-Off Grade, December 2012 Classification Nickel Tonnes Contained Contained Ni Cu Co Pt Pd Au Rh Cut-Off above Ni Cu % % % g/t g/t g/t g/t Grade (,000) t t t

0.5% 368 3,354 2,749 0.91 0.75 0.040 0.287 0.784 0.068 0.00 0.4% 760 5,081 4,501 0.67 0.59 0.031 0.254 0.630 0.063 0.00 0.3% 2,124 9,699 8,897 0.46 0.42 0.024 0.180 0.485 0.051 0.00 Indicated 0.2% 7,884 23,557 20,352 0.30 0.26 0.018 0.129 0.366 0.039 0.00 0.1% 14,159 33,404 27,807 0.24 0.20 0.015 0.109 0.290 0.033 0.00 0.05% 16,283 35,079 29,124 0.22 0.18 0.014 0.102 0.264 0.032 0.00 0.5% 922 5,717 4,844 0.62 0.53 0.030 0.155 0.866 0.041 0.00 0.4% 2,204 11,420 10,057 0.52 0.46 0.026 0.140 0.717 0.040 0.00 0.3% 5,306 21,966 19,641 0.41 0.37 0.022 0.124 0.565 0.039 0.00 Inferred 0.2% 14,224 43,464 35,847 0.31 0.25 0.018 0.105 0.414 0.035 0.00 0.1% 26,480 62,263 48,719 0.24 0.18 0.015 0.087 0.314 0.029 0.00 0.05% 31,755 66,394 51,714 0.21 0.16 0.014 0.080 0.275 0.027 0.00

Note a) Results are cumulative above Cut-Off Grade. 14.6 RESOURCE MODELLING Exploration data available to evaluate the mineral resources for the Samapleu Deposits consists of surface NQ core drilling samples collected by Sama since 2010. The database includes 110 boreholes totalling 17,143 m for a total of 7,835 assay samples. A total of nine main elements are available for consideration: Ni, Cu, Co, Pd, Pt, Rh, Au, Fe and S. The maiden mineral resource estimates presented in the NI43-101 Technical Report of July 20, 2012 of the Samapleu Deposits were based on 102 boreholes totalling 15,849 m. Recently, eight new boreholes were added for a total of 110 boreholes totalling 17,273 m. A total of 2,069 additional samples were added to the database since the maiden mineral resources of July 2012. These additional samples represent 28% of the samples in the database. 520 samples were collected from six boreholes drilled at the Samapleu Extension 1 Deposit and one borehole drilled at the Samapleu Main Deposit in 2012. The remaining 1,549 additional samples, collected from 61 boreholes at both deposits, are from previously un-sampled intervals due to low percentage (from trace to 5%) of visible sulphide. In the previous July 2012 maiden mineral resource estimates, these non-sampled intervals were considered as having zero value. Table 14.4 shows the assay compilation for these 1,549 samples.

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Table 14.4 Assay Statistics from Boreholes not used in Mineral Resource of July 2012 (Note that only 74% and 42% of assay results were received as of December 03, 2012) # (total) Main Ext 1 Borehole sampled 61 43 18 Total new samples 1549 1113 436 Assays received 74% 42% Ave Ni% 0.15 0.16 Ave Cu% 0.07 0.06 Max Ni% 0.47 0.51 Max Cu% 0.49 0.46

Geological interpretation and modelling was performed by Sama’s staff using wireframe surfaces generated by connecting northeast-southwest cross sectional interpretations to model lithological contacts, mineralized zones and the bases of oxidation, supergene and transition. The base of oxidation is defined by the depth of the rock’s full oxidation. The mineral resources were estimated using block estimation with Ordinary Kriging interpolation methodologies on 5 x 5 x 2 m blocks at each of the Samapleu Main and Samapleu Extension 1 Deposits. The conditions for interpolation were:  a minimum of 2 samples and a maximum of 12 samples;  a maximum of 4 samples per drillhole;  five mineralized geological domains; and  a sample search ellipse 10 m x 30 m x 75 m oriented by area as follows:

 Samapleu Main Deposit: 120/65/0 (Z, X, Z); and

 Samapleu Extension 1 Deposit: 45/15/0 (Z, X, Z). Bulk density values (BDF) (wet and dry) and moisture content were assigned to each individual sample based on Table 11.1. The BDF in the block model was estimated using the same method as for grades. 14.6.1 GEOLOGICAL FACIES A ‘Geological Code’ system has been introduced and assigned to the various lithologies observed at the Samapleu Deposits.  Geological Units

 Series 100 – Laterite facies including limonite and saprolite;

 Series 200 – Gabbro;

 Series 210-250 – Pyroxenite and other ultramafic facies: . 210 – Samapleu Main Deposit Upper Block pyroxenite; . 211 – Samapleu Main Deposit Upper Block mineralized pyroxenite; Measured category; . 212 – Samapleu Main Deposit Upper Block mineralized pyroxenite; Indicated category; . 213 – Samapleu Main Deposit Upper Block mineralized pyroxenite; Inferred category; . 220 – Samapleu Main Deposit Lower Block pyroxenite;

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. 221 – Samapleu Main Deposit Lower Block mineralized pyroxenite; Measured category; . 222 – Samapleu Main Deposit Lower Block mineralized pyroxenite; Indicated category; . 223 – Samapleu Main Deposit Lower Block mineralized pyroxenite; Inferred category; . 250 – Samapleu Extension 1 Pyroxenite; . 251 – Samapleu Extension 1 Deposit mineralized pyroxenite; Measured category; . 252 – Extension 1 Mineralized pyroxenite; Indicated category; . 253 – Extension 1 Mineralized pyroxenite; Inferred category;

 Series 600 and 800: Gneiss, Quartzite and other Metamorphic hosts.

 Mineralization

 Code 20 – Highly disseminated to massive sulphides lenses.  Others

 Code 70 – Fault Zone. 14.6.2 VARIOGRAPHY Continuity directions were assessed based on the orientation of wire frames, composites and the spatial distribution of the elements. All variogram analysis and modeling was performed using Snowden’s Supervisor software. Variography was generated for all principal variables: Ni, Cu, Co, Pd, Pt and Au based on the 1 m downhole composites. The Ni group variogram models were fitted and applied to mineral resource estimations for the Samapleu Deposits. The Ni group variograms models are presented in Tables 14.5 and 14.6.

Table 14.5 Nickel Group Variogram Parameters for Samapleu Main Deposit Used for Interpolation Element Direction Nugget C1 Range 1 C2 Range 2 (m) (m)

Ni group 00-->120 0.14 0.54 50 0.32 130 00-->065 0.14 0.54 50 0.32 130 90-->000 0.14 0.54 50 0.32 130

Table 14.6 Nickel Group Variogram Parameters for Samapleu Extension 1 Deposit Used for Interpolation Element Direction Nugget C1 Range 1 C2 Range 2 (m) (m)

Ni group 00-->050 0.07 0.51 50 0.43 100 00-->140 0.07 0.51 63 0.43 100 90-->000 0.07 0.51 30.5 0.43 75.5

Figures 14.3 to 14.7 show that variograms for Ni, Cu, Co, Pd, Pt and Au can be grouped under Ni group variograms, as there are no significant variations. Block models for the Samapleu Deposits were interpolated applying Nickel group variogram models to estimation with Ordinary Kriging. Interpolating grade values to a block of 5 x 5 x 2 m (see Section 14.6), using the Ordinary Kriging interpolation method.

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14.7 GRADE ESTIMATION Mineral resource estimations for the Samapleu Deposits were undertaken using Ordinary Kriging as the interpolation method for Ni, Cu, Co, Pd, Pt, Rh, Au, Fe, S. and BDF. Ordinary Kriging estimates were completed using GEMS software and generated based on 1 m composite data and applying a restricted number of composite data. All variables have been estimated with the same sample search approach and orientation. The Ordinary Kriging estimation was completed with a 2 x 2 x 2 block discretization, and a parent cell estimation was completed. 14.8 VALIDATION Extensive visual and statistical validation of the grade estimates was completed. This process included:  comparing composite grades and block model grades (see examples for Ni and Cu on Figures 14.5 and 14.6; and  reviewing block estimates and composite data in cross section, long section and plan views. Figures 14.7 to 14.14 show examples of the data validation performed.

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Figure 14.5 Samapleu Main Deposit: Mineralized Pyroxenite: Comparison of Composite Grades (Nickel, Copper Above) and Block Model grade (Nickel, Copper Below) Inferred (213), Indicated (212) and Inferred Lower Block (223), May 2013

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Figure 14.5 (cont.)

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Figure 14.6 Samapleu Extension 1 Deposit: Mineralized Pyroxenite: Comparison of Composite Grades (Nickel, Copper Above) and Block Model Grade (Nickel, Copper Below) Inferred (253), Indicated (252), May 2013.

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Figure 14.6 (cont.)

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Figure 14.7 Samapleu Main Deposit, Section 10475NW; Block Data Showing Nickel Grade

Figure 14.8 Block Model Validation: Samapleu Main Deposit, Section 10475NW (Details of Figure 14.5)

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Figure 14.9 Samapleu Main Deposit, Section 10475NW; Block Data Showing Copper Grade

Figure 14.10 Block Model Validation: Samapleu Main Deposit, Section 10475NW (Details of Figure 14.7)

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Figure 14.11 Samapleu Extension 1 Deposit, Section 5075NE; Block Data Showing Nickel Grade

Figure 14.12 Block Model Validation: Samapleu Extension 1 Deposit, Section 5075NE (Details of Figure 14.9)

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Figure 14.13 Samapleu Extension 1 Deposit, Section 5075NE; Block Data Showing Copper Grade

Figure 14.14 Block Model Validation: Samapleu Extension 1 Deposit, Section 5075NE (Details from Figure 14.11)

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14.8.1 CLASSIFICATION The mineral resources for the Samapleu Deposits are classified as Inferred and Indicated Resources based on drill spacing. At the Samapleu Main Deposit, the mineralization is classified as Indicated from section 10325NW to 10625NW, where drilling was completed on 25 m spacing cross sections and 50 m distance between holes along a cross section (Figure 14.15). The Indicated Resource extends from near-surface, below the weathering zone, to a depth ranging from 75 m to 200 m from surface. The classification of Inferred was given to mineralized material defined by drilling on section 10375NW and sections 10625NW to 10700NW, where drilling was completed on 50 m x 50 m spacing and larger. Mineralized material below 400 m, when present, is classified as Inferred (Figures 14.5 and 14.15). At the Samapleu Extension 1 Deposit, the mineralization is classified as Indicated from sections 5025NE to 5125NE, whereby drilling was completed on a 25 m x 25 m drill spacing. Indicated Resources extend from near-surface, below the weathering zone, to a maximum depth of 150 m from surface. An Inferred classification was applied to mineralization on sections 4850NE to 5025NE and from 5125NE to 5200NE, where drilling was performed on 50 m x 50 m spacing and larger to a maximum depth of 150 m from surface (Figure 14.16). PJLG is of the opinion that a drill spacing grid of 25m x 25m, given the known geology and drillholes angles, is sufficient in the area where it is available at Samapleu to start a PEA or PFS. The ongoing metallurgical test and this report, including consideration for logistic and environment objectives, represent the beginning of such initiative. As mentioned in the appropriate respective sections of the report, much work remains to be done to reach the level of PEA or PFS, including the outlining of more indicated mineral resources.

Figure 14.15 Isometric View of Samapleu Main Deposit Showing Indicated (brown) vs. Inferred (mauve) Mineral Resource Layout

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Figure 14.16 Isometric View of Samapleu Extension 1 Deposit Showing Indicated (brown) vs. Inferred (mauve) Mineral Resource Layout

14.8.2 MINERAL RESOURCES ESTIMATE As mentioned above, the mineral resource estimate is based on 110 boreholes for a total of 17,143 m and 7,835 samples, for both the Samapleu Deposits, 1.3 km apart from each other. The Samapleu Main Deposit was mostly drilled on a 25 m x 50 m drill pattern, while the Samapleu Extension 1 Deposit was mostly drilled on 25 m x 25 m and 50 m x 50 m grid spacing. A 3D block model was created for each sector; estimation was conducted using GEMS software with Ordinary Kriging as the interpolation method. Mineral resources are presented using a Ni cut-off-grade of 0.10% in Table 14.7. Mineral resources have an effective date of December 11, 2012.

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Table 14.7 Samapleu Deposit Mineral Resources at 0.10% Nickel Cut-Off Grade, December 2012 Classification Tonnes Contained Contained Ni Cu Co Pt Pd Au Rh (,000) t Ni Cu % % % g/t g/t g/t g/t t t

Measured (Mea) Indicated (Ind) 14,159 33,404 27,807 0.24 0.20 0.02 0.11 0.29 0.03 0.01 Total Mea+Ind 14,159 33,404 27,807 0.24 0.20 0.02 0.11 0.29 0.03 0.01 Inferred (inf) 26,480 62,263 48,719 0.24 0.18 0.01 0.09 0.31 0.03 0.01 Notes a) Results are presented in situ. b) Block bulk densities were interpolated from specific gravity measurements taken from core samples. c) Resource modeling used 7,835 samples from the 110 boreholes drilled with 9 elements assayed. d) 1 m composites were used during interpolation. e) Cautionary Statement: Mineral resources are not mineral reserves and do not have a demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. PJLG is unaware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other issues that may materially affect the mineral resources.

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15 MINERALS RESERVE ESTIMATES There are no mineral reserve estimates on the Property.

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16 MINING METHODS Not applicable.

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17 RECOVERY METHODS Not applicable.

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18 PROJECT INFRASTRUCTURE Not applicable.

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19 MARKET STUDIES AND CONTRACTS Not applicable.

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20 ENVIRONMENTAL STUDIES, PERMITTING AND SOCIAL OR COMMUNITY IMPACT 20.1 INTRODUCTION This section provides an overview of the environmental legislation and guidelines applicable to the Samapleu Deposits, summarizes the Project permitting process, identifies potential social and environmental impacts based on the environmental studies done to date, summarizes the baseline surveys and outlines Sama’s plans to address its social and environmental responsibilities. 20.2 REGULATORY AND ADMINISTRATIVE FRAMEWORK The Project will be subject to the laws of the Republic of Côte d’Ivoire along with international legislative guidelines and the performance standards that are presented below. 20.2.1 CÔTE D’IVOIRE LEGISLATION The key legislation regulating with the study of the environmental and social impacts in Côte d’Ivoire is the Code de l’Environnement (“Environment Code”, Law No. 96-766 dated October 3, 1996) and the decree No. 96-894 dated November 8,1996, that details the rules and procedures that are to be applied to environmental and social impact assessments of any development. The primary legislation governing mining in the Côte d’Ivoire is composed of various legislative texts and decrees that include the following:  Code Minier (“Mining Code”, law No. 95-553 dated July 18, 1995) including Article 76 for the protection of the environment and Article 77 for the requirement to submit an environmental impact assessment, environmental management plan and closure plan with costs before commencing operations;  Decree No. 96-634 (dated August 9, 1996) specifying application of the Mining law;  Ordinance No. 96-600 dated August 9, 1996) fixing the royalties, proportional taxes and fixed rights contained in the Mining Code. The following Côte d’Ivoire legislation will also apply to the Project:  Code de l’Eau (“Water Code”, law No. 98-755, dated December 23, 1998);  Code Forestier (“Forestry Code “, law No. 65-425 dated December 20, 1965);  Law No. 94-442 (dated August 16, 1994) modifying law No. 65-255 (dated August 4, 1965) on wildlife protection and the right to hunt;  Law 64-490 (dated December 21, 1964) relating to the protection of plants; and  Law 98-750 (dated December 23, 1998) relating to rural forestry areas. 20.2.2 INTERNATIONAL GUIDELINES In addition to complying with Côte d’Ivoire laws and regulations, the Project is subject to various international guidelines due to the fact the International Finance Corporation (IFC) is a partner (6.1%) in Sama Resources Inc.

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The IFC is the private lending arm of the World Bank group and is the largest multilateral source of loan and equity financing for private sector projects in developing nations. IFC environmental and social guidelines are often used as de facto requirements for resource development projects in developing countries. With IFC as a partner, the Project will be subject to an environmental screening process to determine the appropriate extent and type of environmental assessment required. Projects are generally described as Category A, B or C in order of decreasing environmental significance (IFC, 2006). The Project would likely be classified as a Category A project as it has “Business activities with potential significant adverse environmental or social risks and/or impacts that are diverse, irreversible, or unprecedented” (IFC, 2006). The categorization of projects serves to reflect the magnitude of potential impacts and thus the level of investigation required during an Environmental and Social Impact Assessment (ESIA), and to specify institutional requirements to disclose project-specific information to the public. The IFC’s environmental and social review procedure is governed by a series of operating policies and procedures, which are based closely on the World Bank policies. The IFC Performance Standards (IFC, 2012) establish the requirement of an integrated assessment to identify the social and environmental impacts, risks and opportunities of projects, along with effective community engagement through disclosure of project related information and consultation with communities concerned by the project. In addition to outlining the expected content of an ESIA, they establish requirements to avoid, reduce, mitigate or compensate for impacts on people and the environment, and to improve conditions where appropriate. The Performance Standards considered relevant to the Project are listed below:  Performance Standard 1: Social and Environmental Assessment and Management System.  Performance Standard 2: Labour and Working Conditions.  Performance Standard 3: Pollution Prevention and Abatement.  Performance Standard 4: Community Health, Safety and Security.  Performance Standard 5: Land Acquisition and Involuntary Resettlement.  Performance Standard 6: Biodiversity Conservation and Sustainable Natural Resource Management.  Performance Standard 7: Indigenous Peoples.  Performance Standard 8: Cultural Heritage. A set of IFC Guidance Notes (IFC, 2007a) corresponding to the Performance Standards provides direction to proponents and assessors in meeting the standards and assists in understanding the ESIA requirements. In addition to the Performance Standards, the IFC has developed the following guidelines that are relevant to the Project: The guidelines will serve as a critical technical reference to support the implementation of the IFC Performance Standards.  IFC Environmental, Health, and Safety (EHS) Guidelines – General EHS Guidelines (IFC, 2007b)  IFC Environmental, Health, and Safety Guidelines – Mining (IFC, 2007c). The World Health Organisation (WHO) publishes guidelines that address a range of issues, including assessment of risk for water-related infectious diseases through to use of wastewater in agriculture. The WHO Guidelines for Drinking-Water Quality (WHO, 2006) will be used in the Project baseline studies and Environmental and Social Impact Assessment (ESIA) in assessing the potential impacts on downstream receiving waters and/or community water supplies from the Sama mining project.

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20.3 PROJECT PERMITTING PROCESS The primary permits required for the future development of the Project are an Environmental Compliance Certificate to operate the mine and a mining permit decreed by the Minister of Mines and Energy. A permit to take water will also be required under the Water Code. Various other permits from other government departments will also be required, but are considered as being relatively secondary in nature. The processes outlined below may also be subject to change and/or require additional steps, depending on changes in the project design, findings of the impact assessment process, meeting IFC performance standards, stakeholder consultations and negotiations. 20.3.1 ENVIRONMENTAL COMPLIANCE CERTIFICATE Sama has not yet submitted a letter with a technical report including a project description to Côte d’Ivoire’s Agence Nationale de l’Environnement (ANDE, “National Environment Protection Agency”) requesting the Terms of Reference which is the first step in the Environmental and Social Impact Process. Following the submission of the letter requesting the Terms of Reference, ANDE conducts a site visit and then prepares the Terms of Reference. A certified Côte d’Ivoire consultant conducts the social and environmental studies that will allow the preparation of the ESIA. The draft ESIA is submitted to ANDE, who organizes public hearings. After the public hearings, there is a presentation to the inter- ministerial validation committee where three possible decisions are possible: approval of the report, modifications to the report or refusal. Once the ESIA report meets all the requirements then the Environmental Compliance Certificate is issued and the mine can then commence operations. 20.3.2 MINING The mining licence will be applied for following the final exploration report being submitted to, and approved by the Ivorian Department of Mines and Energy prior to the final expiry date of the exploration licence. At the same time, a completed ESIA report is to be submitted to ANDE. This is required as a condition of the granting of future anticipated mining permits under the Ivorian system of mining concession or licensing. 20.4 SUMMARY OF ENVIRONMENTAL AND SOCIAL WORK UNDERTAKEN TO DATE BY SAMA RESOURCES In January 2011, Sama Initiated a 24-month environmental baseline program to address project specific environmental, social and permitting issues. SGS Environment in Abidjan, Côte d’Ivoire (SGS Environnement) was given the mandate to conduct these Baseline Environmental Studies required for the eventual preparation for the social and environmental study. In February 2013, a visit to the SGS Environment offices in Abidjan was conducted to review and discuss the Project’s environmental baseline studies with SGS Environnement’s project manager. The status of the nine main topics numbered SAMA-BL-01 to SAMA-BL-09 is presented in Table 20.1.

Table 20.1 Status of the Sama PR 123 Environmental Baseline Study Work WBS Description Phase % Completion SAMA-BL-01 Compile HSEC Regulatory and Sama Requirements 1 100 SAMA-BL-02 Procure and Install Meteorological Station 1 100 SAMA-BL-03 Meteorological Data Compilation and Analysis 1 100 SAMA-BL-04 Review Current Surface Water Program 1 100 SAMA-BL-05 Procure and Install Surface Water Data Acquisition 1 100

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WBS Description Phase % Completion SAMA-BL-06 Terrestrial Environment Study 1 100 SAMA-BL-07 Aquatic Environment Study 1 100

A summary of the environmental and social baseline studies on the PR 123 property is presented in Table 20.2.

Table 20.2 Summary of the Sama PR 123 Environmental and Social Baseline Studies (as of December 2012) Environmental Sampling Season Work Undertaken to Date Component Aquatic Rainy Season Identification and analysis of benthic invertebrates at Environment (Sept 2012) 20 stations. Dry season Identification and analysis of algae at 20 stations. (Nov - Dec 2012) Collection and identification of fish at 11 stations. Terrestrial Environment Rainy Season Amphibians, reptiles, birds, small and large mammal surveys – Fauna (Sept 2012) were conducted over 13 transects during wet and dry seasons Dry season including identification of species at risk. (Dec 2012) Terrestrial Environment Rainy Season Detailed botanical work including vegetation mapping and – Flora (Sept 2012) identification of important communities and species, including Dry season species at risk, presently based on 71 sites. (Dec 2012) Soils Dry season Soil characterization at 56 stations, with eight surface and (Dec 2012) subsurface samples submitted for chemical and physiochemical analyses. Climate January 2011 to Temperature, rainfall, humidity, wind speed data obtained November 2012 from four weather stations outside of PR 123 area. Installation and operation of weather station on PR 123 property. Operation is on-going. Hydrology November 2012 Determination of watershed boundaries. Calculation of theoretical flows from Bafingdala hydrometric station. Field flow measurements and data loggers. Surface water collection and analysis from seven stations. Hydrogeology November 2012 Geological assessment of groundwater: identification of laterite aquifers all within the first 40 m of the surface, recharged by surface water. Permeability tests. Collection and chemical analyses of groundwater samples from seven locations. Socio-Economic November 2012 Study area included villages of Gangbapleu, Gbangompleu, Samapleu, Yèpleu, Yorodougou, Zokoma and associated camps. 345 individuals interviewed including administrative authorities, elected and traditional authorities, technical services, and local populations. Data collection for each village included demographics, religion, health, education, land tenure, regional economic activities agriculture including food and cash crops, forestry, animal production, crafts and trading. Infrastructure data for each community included roads and telecommunications, water supply, electricity, markets, health services, etc.

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Figure 20.1 shows the location of various monitoring and sampling stations relating to the PR 123 property.

Figure 20.1 Monitoring Station Locations with Respect to the Project

20.5 COMMUNITY RELATIONS Sama has been active in the village of Yorodougou since 2009 and has adopted a proactive approach to communications, local employment, education and health. Various social actions are taken to improve the daily life of local communities. In October 2012, Sama prepared and implemented a Health, Safety, Environment, Labour and Community (HSEC) policy that meets OHSAS 18000, ISO 14000 International Finance Corporation (IFC, World Bank) Environmental and Social Performance Standards. In addition, Sama has developed and implemented a Human Resources Policy (Sama, 2012). Sama has implemented a community consultation program to reinforce their community relations by explaining the exploration work and future project, providing updates on the exploration activities (including the location of upcoming drilling activities) and being aware of and addressing any issues from the various communities and farmers. These activities included meetings with the villages of Yorodougou, Samapleu, Gangbapleu, Zocoma, Campement Savanne, Terre Rouge, Gbangompleu and the Bounta Nord camps. Meetings were generally held on two occasions each month in each village from the end of October 2012 to the end of January 2013. Sama, at the request of the local farmers, revised and implemented their crop compensation program resulting from damage by the exploration drilling. These revisions were based on consultation with other mining companies in Côte d’Ivoire and were well received by the local farmers.

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The Sama public consultation program will expand in 2013 to include additional meetings planned with the non-resident populations made up of Baule, Senufo, Malinké, and Lobi farmers. Sama’s community engagement program will identify key areas and subjects to address during the advancement of the exploration project and through the future ESIA phase of the Project. 20.6 ANTICIPATED ENVIRONMENTAL AND SOCIAL ISSUES As the Project is in an advanced stage of exploration and a project description has not been defined, it is not possible to provide specific comments on the likely environmental and social issues associated with a future mine complex. However, based on a review of 2012 draft baseline study reports in preparation supplied by SGS Environnement and Sama’s public consultation program, the aspects that follow are likely to be the key issues that will require attention during future development of the project and in the ESIA phase. 20.6.1 WATER MANAGEMENT Rainfall in the area is variable depending on the season and local communities are dependent on primarily surface and ground water resources. At present, the Méné River is a prime candidate to supply the water needs, but the water requirements of the future project remain to be determined. Therefore, these aspects will need to be better understood before moving forward to avoid negative impacts on other water users. These aspects include, but are not limited to where the water source for the future project comes from, the extent of pit dewatering required (and any implications of this on the local communities domestic water supply and) and whether if discharges of effluent from the site will be required and how these would be managed. 20.6.2 SACRED SITES Each family in the three communities in the immediate vicinity of the Project have numerous sacred sites, including tombs that are worshipped routinely. Unauthorized incursion into these sites results in stiff penalties to the offender. GPS coordinates of some of these locations have been obtained during the baseline socio-economic study, but not all have been located. The siting of the project infrastructure could directly or indirectly impact these sacred sites. Placement of the project infrastructure should avoid these sites. Therefore, the current and future ongoing communications by Sama with the local communities, individual families and family members will be critical in identifying the locations of these sacred sites in relation to any future project. 20.6.3 ACID MINE DRAINAGE AND METAL LEACHING FROM NICKEL MINE RESIDUES Limited geochemical results are currently available to determine the acid mine drainage potential from the project. Geochemical test work was done on +65 mesh tails, rougher tails, clean scavenger tails and magnetite float tails from the process pilot tests (see Section 13). Preliminary results indicate that the +65 mesh tails, clean scavenger tails and magnetite float tails are acid generating while the rougher tails which make up approximately 71% of the tailings mass are non-acid generating. The combined tailings are not acid generating; however, the sulfur content of the rougher tails is greater than 0.3% which will require the implementation of a Potential Acid generating and Non Potential Acid Generating tailings management strategy to protect both the surface and ground water resources.

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20.6.4 LOSS OF AGRICULTURAL LAND The existing habitat in the project area has been degraded prior to any exploration activities by Sama as a result of the need for land to grow crops for a subsistence livelihood. The future mining project will have a direct impact on the land where the project will be located, resulting in the loss of land used for agriculture. The compensation measures for crops and land planned by Sama could result in tensions in the community as it attributes landowner rights to individuals in a family. In the past, this land has been considered belonging to the whole family and not one individual. However, this provides an opportunity for Sama to provide the families directly affected by the any future mining project with methods to increase their crop yields on their remaining lands through sustainable agricultural techniques to compensate for the losses. 20.6.5 COMMUNITY IMMIGRATION AND DEVELOPMENT The future mining project may increase the number of Ivorian and other nationalities coming into the region in search of employment during the construction and operational phases of the project. The result is increased pressure on agricultural land that could lead to tensions between families and newcomers. This influx of people will also include newly employed mine workers who will settle in the surrounding villages for the life of the future mining project. Any increase in the village populations will put pressure and competition on the already strained infrastructures. With six communities located within the project area, it is likely Sama will be requested to continue to contribute to local development, perhaps more significantly so than it has in the past. The risk is that if these contributions are not carefully managed, dependencies can be created, increasing the negative impacts at the mine’s end-of-life. Sama should first focus community development initiatives on sustainable projects and those that are in line with the local development plan and stakeholder needs (rather than wants). 20.6.6 DELAYS IN PERMITTING The Project will require an ESIA study that meets IFC requirements. The Terms of Reference for the ESIA will have to be developed jointly with IFC so that environmental approvals and the mine permitting processes are not delayed. 20.6.7 BASELINE STUDIES UNDERTAKEN BY LOCAL SPECIALISTS SGS Environnement was selected to conduct the baseline environmental and socio-economic studies for the Project. The absence of a proposed project layout resulted in these baseline studies being conducted over a large area of the PR 123 property. Selection of the future project layout location and the Terms of Reference for the EISA may require some additional, more localized sampling by the local specialists. WSP is of the opinion that prior to conducting any additional baseline studies, an independent review of the environmental baseline work conducted in 2012 should be done to ensure these studies meet the IFC performance standards. 20.7 CONCLUSIONS As the Project is still in an exploration phase, WSP considers the work done to date adequate to understand the environmental and social issues likely to affect any future mining development. Sama has developed and implemented an extensive public consultation program in the six villages and surrounding area that has gained the support of these local communities. Sama will continue these activities as the exploration activities progress in order to manage all of the stakeholders’ expectations. Sama has also recognized that, although several environmental baseline studies have been completed by SGS Environnement, additional studies would need to be undertaken for the preparation of the ESIA required to meet Côte d’Ivoire’s and IFC’s requirements.

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21 CAPITAL AND OPERATING COSTS Not applicable.

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22 ECONOMIC ANALYSIS Not applicable.

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23 ADJACENT PROPERTIES 23.1 SIPILOU EXPLORATION PERMIT PR 219 Sama’s properties are bounded to the north and at the north-east corner by SODEMI’s Sipilou exploration permit PR 219 (Glencore-Sodemi Joint Venture), which contains the Sipilou North Ni-Co laterite deposit and the northern part of the Sipilou South deposit (Figure 23.1). The Sipilou South Deposit extends partially into PR 123. The PR 219 is currently under a Joint venture agreement between Glencore and Sodemi. No exploration work has been performed since 2002, due to the difficult political situation during the 2002 – 2008 civil unrest, the property was under Force Majeure condition. Glencore and the Ivorian government are currently negotiating conditions for resuming activities on the property. The property was worked by Falconbridge (now Glencore), under a Joint Venture agreement, between 1993 and 2002. The Sipilou North nickel-cobalt laterite deposit is up to 12 kilometres long by 1.5 kilometres wide and was well delineated by drilling. The property also includes the Sipilou South Ni-Co deposit with approximately 70% of the global surface area laying with the PR 219 and the remaining within the Samapleu PR 123. As of June 2013, there is no other adjacent Exploration Permit delivered in the area.

Figure 23.1 Map Showing Adjacent Properties

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24 OTHER RELEVANT DATA AND INFORMATION There is no other information relevant to this project.

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25 INTERPRETATIONS AND CONCLUSIONS 25.1 MINERAL RESOURCES PJLC reviewed and audited the exploration data available for the Samapleu Ni-Cu+PGE Project. It is the authors’ opinion that the exploration data is sufficiently reliable to interpret with confidence the boundaries of the nickel and copper mineralization and to support the evaluation and the classification of mineral resources in accordance with the generally accepted CIM “Estimation of Mineral Resource and Mineral Reserve Best Practices” and CIM “Definition Standards for Mineral Resources and Mineral Reserves” guidelines. Considering the new drilling information, PJLG revised the resource domains previously interpreted to constrain the nickel-copper mineralization inside a single block model. Grades were estimated using the Ordinary Kriging (OK) method as the principal estimator. Detailed variography using capped composite assay data was carried out to determine the estimation parameters for each domain. The Samapleu Deposits contain mineral resources of 33,404 tonnes of nickel and 27,807 tonnes of copper in the Indicated category and 62,263 tonnes of nickel and 48,719 tonnes of copper in the Inferred mineral resource category (Table 25.1). The effective date of the mineral resources is December 11, 2012.

Table 25.1 Samapleu Mineral Resources, December 2012 Classification Tonnes Contained Contained Ni Cu Co Pt Pd Au Rh (,000) t Ni Cu % % % g/t g/t g/t g/t t t

Measured (Mea) Indicated (Ind) 14,159 33,404 27,807 0.24 0.20 0.02 0.11 0.29 0.03 0.01 Total Mea+Ind 14,159 33,404 27,807 0.24 0.20 0.02 0.11 0.29 0.03 0.01 Inferred 26,480 62,263 48,719 0.24 0.18 0.01 0.09 0.31 0.03 0.01

Notes a) Results are presented in situ. b) Block bulk densities were interpolated from specific gravity measurements taken from core samples. c) Resource modeling used 7,835 samples from the 110 boreholes drilled with nine elements assayed. d) 1 m composites were used during interpolation. e) Cautionary Statement: Mineral resources are not mineral reserves and do not have a demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. PJLG is unaware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other issues that may materially affect the mineral resources. 25.2 GEOLOGY AND EXPLORATION Sama, through its wholly-owned subsidiary Sama Nickel Côte d’Ivoire SARL, together with its joint venture partner SODEMI, is committed to exploring and developing the Samapleu Deposits and continues exploring for additional mineralized bodies.

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Sama is continuing exploration work over areas outlined by the recently completed 3,300 line/km airborne helicopter time domain electromagnetic (HTEM Survey) over part of PR 123. Geological mapping and sampling are ongoing, access roads and regional drill sites are currently being built and ground geophysical surveys will be performed during the course of 2013. Additional drilling work, approximately 12,000 m for 2013, is designed as regional drilling on the HTEM target as well as testing at-depth extensions for massive sulphide lenses together with reducing drill spacing on the inferred sectors of the Samapleu Deposits. Sama will also continue to explore and define the potential of the newly discovered massive chromite layers. 25.3 METALLURGICAL TESTING AND MINERAL PROCESSING Initial metallurgical testing programs were conducted in two phases by SGS Canada’s laboratory and CTMP. The first phase was completed in 2010 and focused on performing mineralogical studies, carrying out the first flotation tests ever done on the ore, developing a suitable flotation flowsheet for the treatment of the supplied representative material and focused on benchmarking each individual sub-composite. The second phase was completed in 2012 with the main objectives to produce an acceptable bulk Ni- Cu concentrate at reasonable recoveries and to develop an initial processing flowsheet. The test results allowed WSP to develop a preliminary flowsheet including crushing, grinding and flotation based on the conceptual flowsheet designed by CTMP (2013). Additional work is recommended to improve bulk concentrate recovery and grade. 25.4 ENVIRONMENT AND PERMITTING As the project is still in an exploratory phase, WSP considers the work done to date adequate to understand the environmental and social issues likely to affect the Project. Sama contracted SGS Environment in 2012 to conduct baseline studies to document the existing environmental and socioeconomic conditions over a large area of PR 123. Sama has developed and implemented an extensive public consultation program in the six villages and surrounding area of PR 123, thus gaining the support of these local communities. Results of a geochemical testing preliminary assessment indicate that the combined tailings are not acid generating; however, the sulfur content of the rougher tails is greater than 0.3%, which will require implementing a “Potential Acid Generating” and “Non Potential Acid Generating” tailings management strategy to protect both the surface and ground water resources.

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26 RECOMMENDATIONS It is WSP’s opinion that additional exploration and engineering test work expenditures are warranted to improve the understanding of the Project and delineate additional resources. The following recommendations and budgets have been determined based on advancing the Project to a Preliminary Economic Assessment level study while continuing exploration works in a search for probable massive sulphide material. Table 26.1 summarizes the estimated costs for the recommended work on Property PR123 and the details of the recommended work is provided in the following subsections.

Table 26.1 Budget for the Recommended Work on PR123 Program Cost (US $)

Airborne and ground geophysics surveys and other surface field surveys on PR123 2,000,000 Diamond drilling: Samapleu Main and Extension 1 (5,000 m @ $200/m a) 1,000,000 Diamond drilling: Samapleu deep and areas of interest identified in geophysics survey: a 1,000,000 (5,000 m @ $200/m ) Metallurgical Test Program 20,000 Develop Terms of Reference (TOR) for the Environmental and Social Impact 25,000 Assessment (ESIA) with Cote d’Ivoire regulatory authorities and IFC Preliminary Economic Assessment (PEA) 200,000 Total 4,245,000

Notes a) Drilling includes direct and indirect cost. Indirect costs consist of but not limited to: site access, site preparation, mobilization and demobilization, lab assays, assays preparation, handling and shipping, room and board, travel expenses, supervision, safety. The company is in the process of acquiring drilling rigs aiming at significantly reducing drilling cost. Exploration works beyond the budget proposed above will be defined according to results. Environmental work beyond the budget presented in Table 26.1 could include additional environmental baseline study under the TOR for the ESIA. 26.1 GEOLOGY AND EXPLORATION Additional exploration work may be scheduled based upon positive results from any of the current and projected exploration activities. The search for massive sulphide material might involve exploration below the current surface occurrences and regional exploration works that includes regional geological mapping and rock sampling, an EM airborne survey, downhole EM surveys, and drilling at the most promising areas. 26.2 MINERAL RESOURCES MODEL The size of the blocks and the model as well as the attributes should be adjusted for the next stage of the project study.

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26.3 METALLURGICAL TESTING AND MINERAL PROCESSING Sama mineral deposit samples are characterized by low levels of Ni and Cu. Also, due to the presence of pyrrhotite, the flotation process does not produce a concentrate with high contents of Ni and Cu. Based on the interpretation presented in Section 13, WSP made the following recommendations to improve the bulk concentrate recovery and grade. 26.3.1 IMPROVEMENT ON METAL RECOVERY  Carry out a trade-off study to examine the possibility of keeping the +212 µm fraction of the ore that contains 8.0% Cu and 8.2% Ni. Presently, this fraction is eliminated to tailings and represents approximately a 22% feed weight fraction.  Carry out a size, chemical and mineralogical analysis in order to provide reasons for the Cu and Ni losses to rougher tails (14.4% Cu, 20.6% Ni). Based on the results of these analyses, further solutions can be proposed (if applicable) such as:

 extending the rougher flotation circuit by adding a rougher scavenger circuit;

 installing a hydrocyclone to recycle the coarse particles to the ball mill;

 reviewing the reagents used in the flotation circuit. 26.3.2 HIGHER CONCENTRATE GRADE The product recovered during the rougher flotation stage (at approximately 30 seconds) proved to have a relatively high grade (SGS Canada, 2011, Tests F2, F6 and F11) with 9.38 to 11.4% Ni and 9.54 to 11.3% Cu and respective recoveries of 43.8 to 50% and 44.7 to 59.4% with a weight yield of 2.4 to 2.7%. This demonstrates that first stage rougher concentrate has strong flotation kinetics that should be further investigated. We therefore recommend performing similar tests on a lower grade sample in order to confirm if the same kinetics can be obtained. On a side note, we believe that sending this rougher flotation high grade product directly to final concentrate could be beneficial in increasing its grade. It may also help alleviate the re-grinding and cleaning circuits. 26.4 ENVIRONMENTAL STUDIES, PERMITTING AND SOCIAL OR COMMUNITY IMPACT Sama recognizes the need to continue broadening their public consultation program in the PR 123 area to include additional stakeholders to identify key areas and subjects to be addressed during the advancement of the exploration project and through the future EIA phase of the project. WSP recommends the following:  Conducting additional baseline environmental studies and updating existing baseline studies as required as the exploration project advances and the resources are further defined.  Conducting additional geochemical tests to determine Acid Generating/Non-Acid Generating Potential of ore, waste rock and tailings.  Having the Terms of Reference for all future baseline environmental and social studies to be conducted by the local specialists and reviewed by suitably qualified international reviewers to ensure they are being undertaken in accordance with accepted international practices.  Developing the Terms of Reference for the ESIA study with Cote d’Ivoire regulatory authorities and IFC so that environmental approvals and project permitting will not be delayed.

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27 REFERENCES ANGORAN, Y., BARY, R. (1978). Prospection géophysique par magnétométrie et polarisation induite Samapleu, SODEMI internal report No. 441, Abidjan. AKPATOU, K.B. (2012) Projet Samapleu de développement d’une mine de Nickel-Cuivre dans la région de Sipilou, Étude d’impact environnemental et social, Description de l’état initiale (Saison des pluies) Volet Faunes, Laboratoire de Zoologie et Biologie Animale Université Felix Houphouët Boigny, Draft Report, Septembre 2012, Abidjan, 50 p. AKPATOU, K.B. (2012) Projet Samapleu de développement d’une mine de Nickel-Cuivre dans la région de Sipilou, Étude d’impact environnementale et social, Description de l’état initial (Saison des pluies) Volet Faunes, Laboratoire de Zoologie et Biologie Animale Université Felix Houphouët Boigny, Draft Report, December 2012, Abidjan, 58 p. AFRICAN RAINBOW MINERALS. (2013). Annual report 2013. AUDET, M.A. (1998). Touba - Biankouma Project work completed in exploration permit A-52 covering the period from October 01, 1995 to March 31, 1998, PN 100, Falconbridge Ltd report, SODEMI internal report, Abidjan. AUSENCO MINERALS AND METALS (2012) Technical Report on the Dumont Project, Launay and Trécesson Townships, Québec, Canada, effective date June 22, 2012, Report prepared for Royal Nickel Corporation, Toronto, Ontario, 355 p. BAKAYOKO A, DAHNON, N. (2012) Étude floristique et végétale du site d’exploitation de Sama Nickel, saisons sèches, Draft Report, December 30, 2012, Abidjan, 69 p. BAKAYOKO A, DAHNON, N. (2012) Étude floristique et végétale du site d’exploitation de Sama Nickel, saison pluies, Draft Report, September 1, 2012, Abidjan, 45 p. BARNES, S. J., LIGHTFOOT, P. C., (2005), Formation of Magmatic Nickel Sulfide Ore Deposits and Processes Affecting Their Copper and Platinum group Element Contents. Society of Economic Geologists Inc, 100th anniversary Volume, (draft) BAMBER, A. (2012), Minesense, Vancouver, Internal Report. BERTHOUMIEUX, G. (1972). Carte Géologique de la Côte d’Ivoire. BLE-LOGBO MARIE-CLAUDE CHANTAL, (2011) Situation juridique de Sama-Nickel Cote d’Ivoire SARL, Abidjan, Côte d’Ivoire, 1 p. BOGUI, M., DEMBELE, Y. (1986). Sondage d’estimation et de développement du gite cupro- nickélifère sulfuré de Samapleu. SODEMI internal report, Abidjan. BOGUI, M. (1998). Sondages de reconnaissance en profondeur des anomalies cupro-nickélifères a Samapleu (extension nord) et a Gangbapleu, SODEMI internal report, Abidjan. CAMIL, J. (1984). Pétrographie, chronologie des ensembles granulitiques archéens et formation associées de la région de Man (Côte d'Ivoire). Implication pour l'histoire géologique du craton Ouest Africain. Thèse No. 79. Univ. Abidjan, Côte d'Ivoire. CENTRE DE TECHNOLOGIE MINÉRALE ET DE PLASTURGIE INC. (2013). Flotation, Heavy Media and Magnetic Separation Testwork. Report of Proposal R-4453 and R-4253. Thetford Mines.

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DIRCKS P.H.G.M. (2005), Structural evolution of Ni-Sulphide mineralisation at Phoenix Mine, Tati Greenstone Belt, NW Botswana, 10 January 2005, School of Geosciences, University of the Witwatersrand, 38 p. DUKE, J.M. (1986). Petrology and Economic Geology of the Dumont Sill: An Achaean Intrusion of Komatitic Affinity in Northwestern Quebec. Geological Survey of Canada Economic Geology Report 35, 56 pp. EWERS, E., HUDSON, R. (1972). An interpretive study of a nickel-iron sulfide ore intersection, Lunnon shoot, Kambalda, Western Australia. Econ. Geol. tl, pp 1075-1092. EKSTRAND, O.R., (1984). Geological Survey of Canada, Economic Geology, report 36, 39-43. FIRST QUANTUM MINERALS LTD. (2012) 2012 Annual Report, 94 p. GIBBS, K. (2011), SGS Canada Lakefield, E Mail to P.J. Mackey, Internal Report. GOH D., DIEN, K. (2012) L’environnement Humain et socioéconomique, Draft Report, November 2012, Abidjan, 53 p. GREGORY, J., JOURNET, N., WHITE, G., & LAPPALAINEN, M. (2010). Technical Report on Mineral Resources of the Kevitsa Ni-Cu-PGE Deposit, Finland, January 2010. First Quantum Minerals Ltd. 52 p. GREGORY, J., JOURNET, N., WHITE, G., & LAPPALAINEN, M. (2011). Technical report for the mineral resources and reserves of the Kevitsa project, Finland. First Quantum Minerals Ltd. 52 p. KADIO, E. (1989). Étude géologique et géochimique des occurrences nickélifères supergène au nord-ouest de Biankouma (Côte d’Ivoire). PhD. thesis Univ. Abidjan, Côte d’Ivoire, 270 p. KONE, T. (2012) Étude d’impact environnementale et social du Projet de développement de la mine de nickel-cuivre de Samapleu, (Côte d’Ivoire), Étude hydrobiologique 1re partie, Phytoplancton et faune aquatique, Draft Report, September 2012, Abidjan, 66 p. KONE, T. (2012) Étude d’impact environnementale et social du Projet de développement de la mine de nickel-cuivre de Samapleu, (Côte d’Ivoire), Étude hydrobiologique 2e partie, Phytoplancton et faune aquatique, Draft Report, November-December 2012, Abidjan, 66 p. KOUAMELAN, A, N., DELOR, C., PEUCAT, J.J. (1997). Geochronological evidence for reworking of Archean terrains during the Early Proterozoic (2.1Ga) in the western Côte d’Ivoire (ManRise- West African Craton). Precambrian Research 86 (1997), pp. 177-199. LANG, J. (2011), Report on Tests on Sama material, Project No. 50080-001- Final Report, Internal Report, SGS Canada, Vancouver. LOWER QUARTILE SOLUTIONS (2005) Tati Nickel - Phoenix Project, 2005 optimisation, Document Reference No. - 2005-1-0028-60-01, 37 p. LOWER QUARTILE SOLUTIONS (2005) Phoenix Mine, BFS Base Case Pit Optimisation MATHEZ, G. (1976). Prospection des indices de nickel de Foungouesso et Sipilou. SODEMI Report No. 347, Abidjan, p. 81. NAHON, ET AL. (1982). Lateritic weathering of Ultramafic Rocks and the Concentration of Nickel in the Western Côte d’Ivoire. Economic Geology, Vol. 77 pp. 1159-1175. NALDRETT, A.J. (1973) Nickel sulphide deposits-their classification and genesis, with special emphasis on deposits of volcanic association. Bulletin Canadian Institute of Mines and Metallurgy 66 (739), pp. 45-61.

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OSWALD, R., (1988). Geological Report, Exploration Campaign 1987 Launay- Trécesson Property, Dumont Nickel Corporation, 22 pp. OUATTARA N. (1998) Pétrologie, géochimie et métallogénie des sulfures du groupe du platine des ultrabasites de Côte d’Ivoire: Signification géodynamique et implications sur les processus de croissance crustale à l’archéen et au paléoprotérozoïque. Thèse de doctorat, Univ. Orléans France, 199p. OUFFOUE, H., BAMBA, B. (1995). Rapport de fin de campagne 1994 -1996, SODEMI internal report, Abidjan. RIVARD, D., M. ALI BEN AYAD, F.R. BILLINGTON, C. MARTIN. (2012) NI43-101 Technical Report on the Samapleu Nickel Copper Deposits, Côte d’Ivoire, West Africa, Samapleu Exploration License PR 123, prepared for, Sama Resources Inc. dated July 20, 2012. Vancouver, 246 p. ROMBACH, M., SOROMOU, D. (1977) Reconnaissance géochimique en sols sur indice Cu et Ni de Samapleu Cu (Ni,Co), SODEMI internal report No: 379, Abidjan. SODEMI, (2012) Exploration Permit No. 123 – Audit Confirmation, Abidjan, Côte d’Ivoire, 2 pp. SGS ENVIRONNEMENT C.I (2012) Exploitation d’une mine de nickel à Samapleu dans la région semi-montagneuse de Man-Danane (Côte d’Ivoire), Étude climatologique, hydrologique et hydrogéologique, rapport provisoire, Draft Report, November 2012, Abidjan, 49 p. SGS CANADA INC. (2011). An Investigation into the Samapleu Nickel Project. Prepared for Sama Resources Inc., Project 50080-001, Final Report, July 12, 2011, Vancouver, 21 p. + appendices. TAHUA, A. (1993). Levés géophysiques sur l’anomalie cupro-nickélifère de Samapleu, secteur Nord, SODEMI internal report, Abidjan. TAHUA, A., LOUAN, S. (1985). Levés topographiques et gravimétrique sur l’anomalie cupronickélifère de Samapleu, SODEMI internal report No. 518. TIE BI T., KOUAMÉ T. R (2012) Étude Pédologique du périmètre minier, Prepared for SGS Environnement Côte D’Ivoire, Draft Report, December 2012, 15 p. and appendices. TRILLION RESOURCES LTD (1991). Geological Evaluation of the Samapleu Research Permit, Département de Biankouma, Côte d’Ivoire. TOURÉ, N. (1983). Projet Sondage: Sondage de reconnaissance pour cuivre et nickel, rapport de fin de campagne 1981-1982. SODEMI internal report No. 485, Abidjan. USGS (2010). Stratiform Chromite Deposit Model, US Department of the interior, US Geological Survey, Open file Report No. 2010-1232 N’GUYEN V. H., MOKE, K. (1979). Prospections Géophysique Complémentaires par magnétométrie et E.M. MaxMin II à Samapleu, SODEMI internal report No. 509. VERMAAK, C.F. (1986). Summary Aspects of the Economics of Chromium with Special Reference to Southern Africa, Mineral Deposits of Southern Africa, pp. 1155-1181.

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28 CERTIFICATES OF QUALIFIED PERSONS MOHAMMED ALI BEN AYAD, PH.D. GEO. I, Mohammed Ali Ben Ayad, Ph.D. Geo. of Montréal, Québec do hereby certify that:  I am an Associate Geologist of P.J. Lafleur Géo-Conseils Inc., with a business address at 6225, Av. De Repentigny, Montreal, Québec, Canada, H1M 2G9.  This certificate applies to the technical report entitled Technical Report on the Samapleu Nickel and Copper Deposits, Côte d’Ivoire, West Africa, with an effective date of July 1, 2013 (the “Technical Report”).  I am a graduate geologist with a doctorate degree in Geology from Paul Sabatier University, Toulouse, France (1987) and I am a registered geologist at Ordre des Géologues du Québec (Nº 1273). My relevant experience includes more than 25 years in explorations and mining for different precious and base metals including copper-nickel deposits. I am a “Qualified Person” for the purposes of National Instrument 43-101 (the “Instrument”).  My latest visit on the Property was from April 19 to 22, 2012.  I am responsible for Sections 2, 4, 6 to 12, 23 and 27 and parts of Sections 1, 3, 25 and 26 of the Technical Report.  I am independent of the issuer as defined by Section 1.5 of National Instrument 43-101.  I have no prior involvement with the Property that is the subject of the Technical Report.  I have read the Instrument and the sections of the Technical Report that I am responsible for have been prepared in compliance with the Instrument.  As of the date of this certificate, to the best of my knowledge, information, and belief, the sections of the Technical Report that I am responsible for contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading. Signed and dated this 22nd day of December, 2015 at Montreal, Québec, Canada.

“Original document signed and stamped by Mohammed Ali Ben Ayad, Ph.D. Geo.

Mohammed Ali Ben Ayad, Ph.D., Geo. Associate geologist of P.J. Lafleur Géo-Conseils Inc.

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JEAN CORBEIL, ENG. I, Jean Corbeil, Eng. of Montréal, Québec do hereby certify that:  I was a Director, Project Management – Mining and Geology at WSP Canada Inc. with a business address at 1600, René-Lévesque Blvd., 16th floor, Montréal, Québec, Canada, H3H 1P9.  This certificate applies to the technical report entitled Technical Report on the Samapleu Nickel and Copper Deposits, Côte d’Ivoire, West Africa, with an effective date of July 1, 2013 (the “Technical Report”).  I graduated from McGill University in Montréal, Québec, with a Bachelor’s Degree in Engineering (structure) in 1973. I am a member in good standing of the Ordre des Ingénieurs du Québec (Nº 24968). My relevant experience includes several years of experience in civil infrastructure work in West Africa and project manager for mining projects in Canada. I am a “Qualified Person” for the purposes of National Instrument 43-101 (the “Instrument”).  My most recent personal inspection of the Property was January 27 and 28, 2013.  I am responsible for Sections 5 and 20 and parts of Sections 1, 3, 25 and 26 of the Technical Report.  I am independent of the issuer as defined by Section 1.5 of National Instrument 43-101.  I have no prior involvement with the Property that is the subject of the Technical Report.  I have read the Instrument and the sections of the Technical Report that I am responsible for have been prepared in compliance with the Instrument.  As of the date of this certificate, to the best of my knowledge, information, and belief, the sections of the Technical Report that I am responsible for contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading. Signed and dated this 22nd day of December, 2015 at Montréal, Québec, Canada.

“Original document signed and stamped by Jean Corbeil, Eng.”

Jean Corbeil, Eng. Director, Project Management Mining and Geology WSP Canada Inc.

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CLAIRE HAYEK, ENG. I, Claire Hayek, Eng. of Montréal, Québec, do hereby certify that:  I was a Mineral Processing Director - Mining & Geology at WSP Canada Inc. with a business address at 1600, René Lévesque Blvd., 16th floor, Montreal, Quebec, Canada, H3H 1P9.  This certificate applies to the technical report entitled Technical Report on the Samapleu Nickel and Copper Deposits, Côte d’Ivoire, West Africa, with an effective date of July 1, 2013 (the “Technical Report”).  I am a graduate engineer with a bachelor degree in Metallurgical Engineering from McGill University (1997) and I am a registered engineer at l’Ordre des Ingénieurs du Québec (Nº 5020255). I have fourteen years of experience in mineral processing applications. I am a “Qualified Person” for the purposes of National Instrument 43-101 (the “Instrument”).  I have not visited the Property.  I am responsible for Section 13 and parts of Sections 1, 3, 25 and 26 of the Technical Report.  I am independent of the issuer as defined by Section 1.5 of National Instrument 43-101.  I have no prior involvement with the Property that is the subject of the Technical Report.  I have read the Instrument and the sections of the Technical Report that I am responsible for have been prepared in compliance with the Instrument.  As of the date of this certificate, to the best of my knowledge, information, and belief, the sections of the Technical Report that I am responsible for contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading. Signed and dated this 22nd day of December, 2015 at Montreal, Québec, Canada.

“Original document signed and stamped by Claire Hayek, Eng. MBA”

Claire Hayek, Eng. MBA Mineral Processing Director WSP Canada Inc.

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PIERRE-JEAN LAFLEUR, ENG. I, Pierre-Jean Lafleur, Eng., of Sainte-Thérèse, Québec, do hereby certify that:  I am an Geological Engineer of P.J. Lafleur Géo-Conseils Inc. with a business address at 933 Carré-Valois, Sainte-Thérèse, Québec, Canada, J7E 4L8.  This certificate applies to the technical report entitled Technical Report on the Samapleu Nickel and Copper Deposits, Côte d’Ivoire, West Africa, with an effective date of July 1, 2013 (the “Technical Report”).  I am a graduate geologist with a degree in engineering in geology from École Polytechnique, Montréal, Quebec (1976) and I am a registered engineer at l’Ordre des Ingénieurs du Québec (Nº 39862). My relevant experience includes 37 years of experience in explorations and operations, including several years working in resources estimation of base metal deposit. I am a “Qualified Person” for the purposes of National Instrument 43-101 (the “Instrument”).  I did not visit the Property.  I am responsible for Section 14 and parts of Sections 1, 3, 25 and 26 of the Technical Report.  I am independent of the issuer as defined by Section 1.5 of National Instrument 43-101.  I have no prior involvement with the Property that is the subject of the Technical Report.  I have read the Instrument and the sections of the Technical Report that I am responsible for have been prepared in compliance with the Instrument.  As of the date of this certificate, to the best of my knowledge, information, and belief, the sections of the Technical Report that I am responsible for contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading. Signed and dated this 22nd day of December, 2015 at Sainte-Thérèse, Québec, Canada.

“Original document signed and sealed by Pierre-Jean Lafleur, Eng.”

Pierre-Jean Lafleur, Eng. Geological Engineer P.J. Lafleur Géo-Conseils Inc.

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Appendix A

LEGAL ADVICE (2011) FROM BLE-LOGBO MARIE-CLAUDE CHANTAL, NOTARY

Appendix B

AUDIT CONFIRMATION (2012) FROM SODEMI

Appendix C

SAMAPLEU DEPOSITS: BOREHOLE LOCATIONS

HOLE-ID SEQUENCE Easting Northing Elevation LENGTH Azimut Dip

Samapleu Main Deposit SM44-450250 1 619648.00 856550.00 607.46 125.30 230 -50 SM44-517178 2 619721.15 856625.61 582.87 197.40 225 -50 SM44-587090 3 619793.69 856710.27 567.57 175.40 230 -50 SM44-525290 4 619726.00 856512.00 599.46 167.70 230 -50 SM44-590230 5 619800.00 856579.00 580.13 147.16 225 -50 SM44-665150 6 619847.77 856655.44 570.87 500.00 225 -50 SM23-610506 15 619005.61 857902.16 523.08 198.00 135 -50 SM44-525290B 17 619724.04 856510.02 599.46 402.20 -90 SM44-409218 18 619607.31 856577.84 613.44 204.00 230 -50 SM44-418293 26 619613.59 856508.58 628.05 156.00 225 -50 SM44-451301 27 619636.30 856506.71 620.60 180.00 225 -50 SM44-492354 28 619694.05 856451.70 620.04 120.00 225 -50 SM44-474334 29 619674.00 856470.88 619.36 123.00 225 -50 SM44-454315 30 619654.97 856485.78 620.31 126.00 225 -50 SM44-506367 31 619706.82 856435.08 620.65 123.00 225 -50 SM44-533379 32 619729.52 856418.92 616.48 64.50 225 -50 SM44-557402 33 619757.00 856398.00 624.00 54.30 225 -50 SM44-487292 34 619687.00 856508.00 607.00 168.00 230 -65 SM44-487292b 35 619684.66 856514.92 607.16 189.00 210 -70 SM44-487292c 36 619682.90 856515.83 606.26 165.00 225 -50 SM44-467270 37 619669.03 856529.34 607.41 165.00 225 -50 SM44-450250b 38 619651.75 856546.15 607.46 144.00 215 -50 SM44-450250c 39 619650.24 856547.36 607.95 135.00 245 -50 SM44-352247 40 619551.48 856551.72 636.13 117.00 225 -50 SM44-405184 41 619605.67 856616.48 604.68 153.00 225 -50 SM44-298324 42 619498.98 856478.80 642.05 111.00 -90 SM44-680289 43 619879.44 856509.66 578.73 129.00 225 -50 SM44-641332 44 619836.61 856467.85 591.15 156.00 225 -50 SM44-487292d 45 619682.78 856517.21 606.35 141.00 240 -65 SM44-645392 46 619846.25 856407.13 600.89 117.00 -90 SM44-784383 47 619984.00 856415.88 576.04 132.00 225 -70 SM44-801514 48 620001.90 856287.19 574.45 117.00 -90 SM44-458386 49 619657.70 856413.02 633.78 54.00 225 -50 SM44-564128 72 619761.46 856670.85 568.83 174.00 225 -50 SM44-541188 73 619742.01 856610.92 582.97 282.00 225 -50 SM44-560203 74 619761.52 856596.90 582.79 276.00 225 -50 SM44-600306 75 619799.19 856494.31 592.31 171.00 225 -50 SM44-582290 76 619782.08 856510.13 592.85 195.00 225 -50 SM44-563275 77 619763.23 856523.62 593.10 198.00 225 -50 SM44-540257 78 619738.05 856543.15 593.43 183.00 225 -50 SM44-523243 79 619719.60 856557.09 595.27 216.00 225 -50 SM44-505224 80 619703.71 856577.04 593.72 171.00 225 -50 SM44-485210 81 619685.36 856588.19 594.31 174.00 225 -50 SM44-476185 82 619675.22 856617.11 592.11 177.00 225 -50 SM44-455171 83 619656.84 856628.28 592.20 141.00 225 -50 SM44-379132 84 619578.79 856669.90 595.70 132.00 225 -50 SM44-270012 85 619470.25 856787.46 572.12 99.00 -90 SM44-375251 86 619576.74 856548.11 628.65 90.00 225 -50 SM44-382324 87 619581.76 856476.61 647.44 51.00 225 -50 SM44-402336 88 619601.31 856463.45 643.37 48.00 225 -50 SM44-423357 89 619624.11 856440.40 639.72 49.00 225 -50 SM44-441369 90 619641.01 856428.16 637.51 45.00 225 -50 SM44-473411 91 619671.97 856387.97 631.39 63.00 225 -50 SM44-494422 92 619693.75 856377.63 628.35 21.00 -90 SM44-568343 93 619764.45 856457.41 607.32 150.00 225 -50

Sama Resources Inc. A - 121-25251-00 1/3 22nd August 2013 HOLE-ID SEQUENCE Easting Northing Elevation LENGTH Azimut Dip SM44-545330 94 619746.94 856469.19 604.99 147.90 225 -50 SM44-525322 95 619728.94 856480.17 606.70 129.00 225 -50 SM44-502299 96 619702.41 856500.17 607.77 135.00 225 -50 SM44-405257 97 619602.57 856539.41 623.19 129.00 225 -50 SM44-590230B 98 619798.50 856579.06 580.13 288.00 225 -50 SM44-573220 99 619772.85 856578.12 584.53 339.00 225 -50 SM44-491136 100 619689.83 856661.03 582.92 183.00 225 -50 SM44-441148 101 619639.60 856649.26 591.31 132.00 225 -50 SM44-404153 102 619604.31 856645.17 597.69 99.00 225 -50 SM44-424210 103 619622.25 856589.96 603.10 93.00 225 -50 SM44-698307 104 619897.05 856490.33 576.63 111.00 225 -50 SM44-660272 105 619857.96 856526.79 579.92 132.00 225 -50 SM44-636270 135 619836.00 856530.00 592.00 177.00 225 -50 SM44-620315 136 619820.00 856485.00 602.00 175.50 225 -50 SM44-494350a 191 619694.00 856450.00 620.00 66.00 210 -60 SM44-494350b 192 619694.00 856450.00 620.00 75.00 240 -50 SM44-684210 204 619884.00 856590.00 572.00 354.50 225 -50

Samapleu Extension 1 Deposit SM24-480735 7 619666.88 857669.98 543.68 353.00 135 -50 SM24-661614 12 619860.32 857786.92 547.72 342.00 135 -50 SM24-628651 20 619829.44 857748.50 547.54 269.00 135 -50 SM24-699580 21 619899.25 857820.16 545.94 243.00 135 -50 SM24-594687 22 619794.44 857713.62 547.02 280.00 135 -50 SM24-736697 106 619936.16 857703.39 537.40 109.00 135 -50 SM24-699656 107 619899.00 857744.00 544.00 150.00 135 -50 SM25-300360 108 620299.85 858039.28 546.19 105.00 135 -50 SM34-070500 132 619271.00 857100.00 571.50 174.60 135 -50 SM24-699656b 133 619897.00 857745.00 544.00 138.00 -90 SM24-628651b 134 619829.00 857748.00 545.00 81.00 135 -70 SM24-664688 137 619864.00 857712.00 542.00 96.00 -90 SM24-679708 138 619881.82 857690.50 539.89 196.00 -90 SM24-645670 139 619845.38 857731.31 545.33 61.50 -90 SM24-648707 140 619846.84 857692.42 542.24 124.00 -90 SM24-683671 141 619882.20 857727.91 544.37 98.50 -90 SM24-628688 142 619828.45 857712.64 544.66 70.90 -90 SM24-699690 143 619899.09 857710.13 542.55 201.70 -90 SM24-696731 144 619896.00 857669.00 535.00 255.00 -90 SM24-717672 145 619918.46 857728.22 543.37 186.00 -90 SM24-736697b 147 619936.00 857704.00 535.00 194.00 -90 SM24-760709 150 619959.56 857696.71 532.46 213.00 -90 SM24-737618a 152 619937.20 857782.64 544.64 61.00 -90 SM24-737618b 153 619937.00 857782.00 544.00 108.00 -90 SM24-772654 154 619972.00 857746.00 542.00 184.50 -90 SM24-721711 155 619922.17 857687.65 535.79 249.00 -90 SM24-631727 193 619831.00 857673.00 538.00 150.00 -90 SM24-716747 194 619913.29 857650.33 532.69 234.00 -90 SM24-665760 195 619865.00 857640.00 534.00 234.00 -90 SM24-627794 196 619827.00 857606.00 533.00 150.00 -90 SM24-771588 197 619971.51 857813.90 543.63 105.00 -90 SM25-009620 198 620009.00 857780.00 544.00 183.00 -90 SM25-039587 199 620039.00 857813.00 542.10 161.80 -90 SM25-080542 200 620080.00 857858.00 538.00 159.00 -90 SM24-603758 201 619803.00 857642.00 536.92 156.00 -90 SM24-572790 202 619772.00 857610.00 535.34 144.00 -90 SM34-603026 203 619803.00 857574.00 531.40 153.00 -90 SM25-004552 205 620004.00 857848.00 542.63 72.00 -90

Sama Resources Inc. A - 121-25251-00 2/3 22nd August 2013 HOLE-ID SEQUENCE Easting Northing Elevation LENGTH Azimut Dip SM25-045506 206 620045.00 857894.00 538.35 48.00 -90 SM34-098547 207 619298.00 857053.00 576.37 123.75 -90 SM34-313349 214 619517.00 857253.00 564.00 81.00 -90 SM34-236411 215 619436.00 857188.00 571.00 123.00 -90 SM34-170475 216 619366.00 857123.00 579.00 117.00 -90 SM34-023171 217 619223.00 857029.00 599.25 105.30 -90

Yorodougou dyke Deposit SM28-465020 8 622864.00 858381.83 545.89 162.80 135 -50 SM18-650730 9 623052.00 858476.00 548.00 139.40 135 -50 SM19-420430 10 623619.76 858775.49 553.00 255.60 195 -50 SM18-650730b 11 623054.47 858472.36 543.94 177.00 190 -50

Regional Exploration SM23-675562 13 619076.15 857844.86 529.12 120.80 135 -50 SM24-045436 14 619243.90 857964.60 545.43 120.00 135 -50 SM13-643477 16 619022.19 858735.94 596.57 300.00 135 -50 SM12-602773 19 618202.71 858428.62 524.00 105.00 135 -50 SM13-210578 23 618608.15 858621.61 572.14 81.00 135 -50 SM13-509544 24 618906.03 858654.53 648.44 234.75 135 -50 SM13-390536 25 618790.85 858661.07 634.11 151.00 135 -50 SM47-206789 146 621806.00 856011.00 550.00 90.00 -90 SM56-775052 148 621578.00 855950.00 550.00 67.00 135 -50 SM47-287614 149 621886.00 856185.00 550.00 119.50 135 -50 SM47-112695 151 621712.00 856100.00 550.00 111.00 135 -75

Sama Resources Inc. A - 121-25251-00 3/3 22nd August 2013

Appendix D

SAMAPLEU DEPOSITS: DRILLING RESULTS USING CUT-OFF GRADE OF 0.10% NICKEL

HOLE-ID SEQUENCE FROM TO LENGTH Density Material NI CU CO PT PD AU % % % gr/t gr/t gr/t Samapleu Main Deposit SM44-450250 1 13.50 102.80 89.30 3.51 Mineralised Interval 0.66 0.64 0.03 0.28 0.58 0.11 & 105.00 118.40 13.40 3.51 Mineralised Interval 0.36 0.24 0.02 0.21 0.26 0.04 SM44-517178 2 46.29 61.13 14.84 3.32 Mineralised Interval 0.25 0.16 0.01 0.08 0.34 0.01 & 65.23 126.00 60.77 3.41 Mineralised Interval 0.26 0.18 0.01 0.12 0.44 0.03 & 127.00 161.00 34.00 3.50 Mineralised Interval 0.25 0.31 0.02 0.11 0.21 0.04 & 176.55 178.80 2.25 3.28 Mineralised Interval 0.16 1.17 0.01 0.19 0.52 0.39 & 179.75 181.00 1.25 3.28 Mineralised Interval 0.10 0.11 0.01 0.12 0.14 0.11 & 185.40 186.90 1.50 3.70 Mineralised Interval 0.11 0.04 0.01 0.14 0.09 0.05 & 188.40 189.90 1.50 3.70 Mineralised Interval 0.10 0.08 0.01 0.11 0.09 0.06 & 191.40 192.90 1.50 3.70 Mineralised Interval 0.10 0.06 0.01 0.08 0.10 0.11 SM44-587090 3 Nil SM44-525290 4 23.00 118.50 95.50 3.39 Mineralised Interval 0.28 0.24 0.02 0.11 0.27 0.05 SM44-590230 5 76.70 147.10 70.40 3.35 Mineralised Interval 0.20 0.08 0.01 0.12 0.29 0.02 SM44-665150 6 Nil SM23-610506 15 Nil SM44-525290B 17 69.00 119.50 50.50 3.37 Mineralised Interval 0.24 0.13 0.01 0.08 0.31 0.05 & 135.50 141.00 5.50 3.34 Mineralised Interval 0.20 0.17 0.01 0.10 0.14 0.03 & 144.00 145.50 1.50 3.70 Mineralised Interval 0.16 0.13 0.01 0.04 0.10 0.01 & 150.00 315.50 165.50 3.40 Mineralised Interval 0.29 0.24 0.02 0.10 0.35 0.06 SM44-409218 18 20.00 54.20 34.20 3.39 Mineralised Interval 0.20 0.18 0.01 0.07 0.19 0.03 SM44-418293 26 14.00 44.50 30.50 3.44 Mineralised Interval 0.27 0.29 0.02 0.10 0.19 0.04 SM44-451301 27 13.20 19.00 5.80 3.35 Mineralised Interval 0.13 0.09 0.01 0.08 0.09 0.02 & 20.50 44.00 23.50 3.41 Mineralised Interval 0.25 0.24 0.02 0.12 0.18 0.03 & 45.50 53.00 7.50 3.33 Mineralised Interval 0.10 0.07 0.01 0.08 0.08 0.08 & 59.00 63.50 4.50 3.33 Mineralised Interval 0.11 0.08 0.01 0.11 0.09 0.03 & 65.00 66.50 1.50 3.33 Mineralised Interval 0.10 0.06 0.01 0.11 0.08 0.02 & 69.50 72.50 3.00 3.33 Mineralised Interval 0.11 0.09 0.01 0.09 0.07 0.03 SM44-492354 28 10.00 61.00 51.00 3.51 Mineralised Interval 0.72 0.61 0.04 0.10 0.45 0.05 SM44-474334 29 18.00 63.30 45.30 3.45 Mineralised Interval 0.28 0.35 0.02 0.10 0.20 0.08 & 67.00 68.00 1.00 3.33 Mineralised Interval 0.13 0.10 0.01 0.04 0.07 0.01 & 78.00 87.00 9.00 3.33 Mineralised Interval 0.12 0.14 0.01 0.11 0.10 0.11 & 88.50 90.00 1.50 3.33 Mineralised Interval 0.10 0.07 0.01 0.09 0.08 0.02 & 91.00 92.00 1.00 3.33 Mineralised Interval 0.10 0.09 0.01 0.10 0.08 0.05 SM44-454315 30 17.00 31.00 14.00 3.35 Mineralised Interval 0.19 0.19 0.01 0.08 0.14 0.06 & 45.00 54.45 9.45 3.48 Mineralised Interval 0.33 0.43 0.02 0.08 0.23 0.07 & 57.00 58.00 1.00 3.35 Mineralised Interval 0.25 0.29 0.02 0.08 0.31 0.06 & 61.00 74.50 13.50 3.34 Mineralised Interval 0.12 0.13 0.01 0.07 0.10 0.02 & 76.00 77.50 1.50 3.33 Mineralised Interval 0.10 0.07 0.01 0.09 0.09 0.03 & 83.50 85.00 1.50 3.33 Mineralised Interval 0.10 0.05 0.01 0.07 0.09 0.03 SM44-506367 31 7.00 37.50 30.50 3.44 Mineralised Interval 0.37 0.33 0.02 0.10 0.26 0.03 & 42.00 58.00 16.00 3.29 Mineralised Interval 0.15 0.22 0.02 0.09 0.07 0.02 & 62.50 76.00 13.50 3.33 Mineralised Interval 0.11 0.06 0.01 0.10 0.06 0.02 SM44-533379 32 15.90 33.00 17.10 3.26 Mineralised Interval 0.47 0.39 0.02 0.07 0.27 0.05 SM44-557402 33 Nil SM44-487292 34 64.40 115.50 51.10 3.36 Mineralised Interval 0.24 0.26 0.02 0.10 0.19 0.05 & 118.95 121.00 2.05 3.32 Mineralised Interval 0.23 0.26 0.01 0.10 0.18 0.08 & 150.40 153.00 2.60 3.31 Mineralised Interval 0.13 0.15 0.01 0.01 0.03 0.02 SM44-487292b 35 38.10 61.00 22.90 3.40 Mineralised Interval 0.29 0.29 0.02 0.10 0.34 0.07 & 71.65 79.30 7.65 3.35 Mineralised Interval 0.17 0.27 0.01 0.11 0.16 0.06 & 88.00 111.00 23.00 3.45 Mineralised Interval 0.37 0.46 0.02 0.09 0.29 0.07 SM44-487292c 36 19.00 97.50 78.50 3.38 Mineralised Interval 0.28 0.24 0.02 0.12 0.31 0.05 & 105.00 106.70 1.70 3.33 Mineralised Interval 0.10 0.10 0.01 0.13 0.12 0.07 & 113.00 115.75 2.75 3.33 Mineralised Interval 0.11 0.06 0.01 0.09 0.07 0.02 & 125.00 126.20 1.20 3.33 Mineralised Interval 0.10 0.07 0.01 0.11 0.08 0.03 SM44-467270 37 18.00 86.20 68.20 3.35 Mineralised Interval 0.21 0.18 0.01 0.11 0.22 0.04 & 88.47 90.00 1.53 3.35 Mineralised Interval 0.20 0.23 0.02 0.16 0.22 0.07 SM44-450250b 38 33.50 92.90 59.40 3.61 Mineralised Interval 0.89 0.85 0.04 0.23 0.81 0.08 SM44-450250c 39 38.00 92.60 54.60 3.45 Mineralised Interval 0.43 0.70 0.02 0.25 0.43 0.10 SM44-352247 40 3.00 13.50 10.50 3.35 Mineralised Interval 0.20 0.19 0.02 0.09 0.17 0.03 & 16.50 24.00 7.50 3.35 Mineralised Interval 0.11 0.08 0.01 0.10 0.09 0.03 & 30.00 31.75 1.75 3.35 Mineralised Interval 0.14 0.02 0.01 0.00 0.01 0.00 SM44-405184 41 35.50 71.00 35.50 3.40 Mineralised Interval 0.22 0.17 0.02 0.08 0.15 0.03 SM44-298324 42 75.00 79.60 4.60 3.33 Mineralised Interval 0.16 0.12 0.01 0.01 0.01 0.01 SM44-680289 43 36.00 87.00 51.00 3.40 Mineralised Interval 0.38 0.33 0.02 0.16 0.69 0.04 SM44-641332 44 19.00 126.50 107.50 3.35 Mineralised Interval 0.23 0.17 0.01 0.10 0.27 0.04 SM44-487292d 45 31.15 48.50 17.35 3.35 Mineralised Interval 0.22 0.15 0.01 0.08 0.27 0.03 & 57.00 99.55 42.55 3.43 Mineralised Interval 0.46 0.56 0.02 0.12 0.43 0.07 & 116.90 120.65 3.75 3.35 Mineralised Interval 0.20 0.19 0.01 0.13 0.15 0.05 SM44-645392 46 46.00 54.00 8.00 3.35 Mineralised Interval 0.24 0.29 0.02 0.09 0.40 0.22 & 61.50 71.00 9.50 3.35 Mineralised Interval 0.25 0.15 0.02 0.11 0.40 0.12 SM44-784383 47 Nil SM44-801514 48 Nil SM44-458386 49 9.40 28.00 18.60 3.34 Mineralised Interval 0.13 0.09 0.01 0.11 0.09 0.03 SM44-564128 72 82.25 110.00 27.75 3.36 Mineralised Interval 0.22 0.11 0.02 0.11 0.35 0.02 & 138.50 145.80 7.30 3.35 Mineralised Interval 0.21 0.11 0.02 0.09 0.28 0.03 SM44-541188 73 57.20 71.60 14.40 3.40 Mineralised Interval 0.38 0.45 0.02 0.22 1.62 0.09 & 78.40 113.60 35.20 3.36 Mineralised Interval 0.26 0.14 0.02 0.21 1.10 0.07 & 117.00 125.00 8.00 3.35 Mineralised Interval 0.26 0.12 0.02 0.11 0.44 0.05 & 127.65 136.15 8.50 3.35 Mineralised Interval 0.20 0.22 0.02 0.07 0.18 0.05 & 140.90 189.55 48.65 3.45 Mineralised Interval 0.27 0.28 0.02 0.08 0.19 0.03 & 221.05 228.50 7.45 3.30 Mineralised Interval 0.30 0.17 0.02 0.14 0.48 0.06 & 233.25 255.50 22.25 3.35 Mineralised Interval 0.27 0.19 0.02 0.10 0.28 0.05

Sama Resources Inc. B - 121-26251-00 1/4 22nd August 2013 HOLE-ID SEQUENCE FROM TO LENGTH Density Material NI CU CO PT PD AU % % % gr/t gr/t gr/t SM44-560203 74 87.80 93.75 5.95 3.34 Mineralised Interval 0.19 0.11 0.02 0.10 0.49 0.04 & 101.00 113.40 12.40 3.35 Mineralised Interval 0.25 0.12 0.01 0.07 0.34 0.02 & 130.90 139.15 8.25 3.35 Mineralised Interval 0.16 0.16 0.01 0.08 0.14 0.04 & 154.90 190.30 35.40 3.44 Mineralised Interval 0.22 0.27 0.01 0.07 0.18 0.04 & 200.45 206.65 6.20 3.35 Mineralised Interval 0.26 0.20 0.02 0.07 0.34 0.03 & 217.45 244.70 27.25 3.38 Mineralised Interval 0.34 0.18 0.02 0.30 0.43 0.09 SM44-600306 75 27.30 143.40 116.10 3.42 Mineralised Interval 0.28 0.29 0.02 0.11 0.35 0.08 SM44-582290 76 25.00 147.00 122.00 3.39 Mineralised Interval 0.25 0.19 0.01 0.09 0.26 0.05 & 147.35 148.85 1.50 3.35 Mineralised Interval 0.11 0.06 0.01 0.06 0.05 0.00 & 150.35 154.85 4.50 3.35 Mineralised Interval 0.11 0.11 0.01 0.07 0.08 0.01 SM44-563275 77 38.35 145.83 107.48 3.40 Mineralised Interval 0.25 0.17 0.02 0.10 0.27 0.04 & 149.75 150.75 1.00 3.35 Mineralised Interval 0.13 0.20 0.02 0.08 0.07 0.01 & 153.75 167.75 14.00 3.35 Mineralised Interval 0.11 0.12 0.01 0.10 0.09 0.05 SM44-540257 78 28.50 145.50 118.50 3.38 Mineralised Interval 0.25 0.16 0.02 0.09 0.27 0.03 & 149.30 154.00 4.70 3.35 Mineralised Interval 0.10 0.07 0.01 0.11 0.09 0.02 & 155.50 157.00 1.50 3.35 Mineralised Interval 0.10 0.05 0.01 0.12 0.09 0.02 & 161.20 162.50 1.30 3.10 Mineralised Interval 0.10 0.13 0.01 0.06 0.05 0.01 SM44-523243 79 27.25 150.00 122.75 3.35 Mineralised Interval 0.20 0.14 0.01 0.08 0.22 0.02 SM44-505224 80 28.50 140.50 112.00 3.36 Mineralised Interval 0.28 0.21 0.02 0.15 0.34 0.04 & 141.25 155.00 13.75 3.35 Mineralised Interval 0.11 0.08 0.01 0.10 0.09 0.02 & 157.50 159.00 1.50 3.35 Mineralised Interval 0.22 0.17 0.02 0.09 0.12 0.05 SM44-485210 81 27.95 51.10 23.15 3.35 Mineralised Interval 0.21 0.20 0.02 0.12 0.42 0.02 & 77.00 108.65 31.65 3.40 Mineralised Interval 0.28 0.27 0.02 0.12 0.21 0.02 SM44-476185 82 27.20 107.10 79.90 3.38 Mineralised Interval 0.23 0.15 0.01 0.10 0.30 0.03 & 111.50 127.50 16.00 3.35 Mineralised Interval 0.10 0.07 0.01 0.11 0.08 0.03 SM44-455171 83 22.50 109.20 86.70 3.32 Mineralised Interval 0.21 0.16 0.01 0.12 0.25 0.03 & 124.10 125.20 1.10 3.28 Mineralised Interval 0.13 0.05 0.02 0.00 0.00 0.00 SM44-379132 84 13.00 38.50 25.50 3.37 Mineralised Interval 0.27 0.23 0.02 0.07 0.15 0.02 & 43.00 46.00 3.00 3.35 Mineralised Interval 0.12 0.08 0.01 0.08 0.07 0.02 & 47.50 56.50 9.00 3.35 Mineralised Interval 0.10 0.07 0.01 0.10 0.08 0.02 & 59.50 67.00 7.50 3.35 Mineralised Interval 0.11 0.07 0.01 0.11 0.09 0.02 & 70.00 72.00 2.00 3.35 Mineralised Interval 0.11 0.09 0.01 0.11 0.09 0.04 SM44-270012 85 Nil SM44-375251 86 6.50 35.65 29.15 3.46 Mineralised Interval 0.24 0.23 0.02 0.08 0.21 0.03 & 37.15 38.65 1.50 3.35 Mineralised Interval 0.10 0.06 0.01 0.07 0.06 0.03 & 40.00 50.50 10.50 3.35 Mineralised Interval 0.10 0.06 0.01 0.09 0.07 0.02 SM44-382324 87 Nil SM44-402336 88 2.00 16.50 14.50 3.16 Mineralised Interval 0.22 0.26 0.02 0.09 0.19 0.07 & 22.50 25.50 3.00 3.35 Mineralised Interval 0.11 0.07 0.01 0.12 0.08 0.03 & 39.00 40.50 1.50 3.35 Mineralised Interval 0.11 0.09 0.01 0.10 0.07 0.03 SM44-423357 89 4.20 36.00 31.80 3.35 Mineralised Interval 0.14 0.19 0.01 0.09 0.09 0.05 SM44-441369 90 3.45 11.50 8.05 3.39 Mineralised Interval 0.17 0.23 0.01 0.14 0.14 0.02 SM44-473411 91 Nil SM44-494422 92 Nil SM44-568343 93 13.00 87.50 74.50 3.38 Mineralised Interval 0.25 0.20 0.02 0.09 0.21 0.03 & 89.00 90.50 1.50 3.35 Mineralised Interval 0.10 0.08 0.01 0.05 0.06 0.01 & 96.50 117.50 21.00 3.35 Mineralised Interval 0.10 0.07 0.01 0.06 0.05 0.01 SM44-545330 94 13.50 97.00 83.50 3.40 Mineralised Interval 0.27 0.21 0.02 0.11 0.28 0.04 & 104.00 119.85 15.85 3.35 Mineralised Interval 0.12 0.10 0.01 0.11 0.09 0.05 SM44-525322 95 15.30 89.00 73.70 3.42 Mineralised Interval 0.28 0.30 0.02 0.10 0.26 0.04 & 92.00 93.50 1.50 3.35 Mineralised Interval 0.13 0.15 0.01 0.06 0.10 0.01 & 98.00 105.50 7.50 3.35 Mineralised Interval 0.14 0.15 0.01 0.06 0.08 0.03 & 109.55 113.30 3.75 3.35 Mineralised Interval 0.16 0.34 0.02 0.06 0.11 0.15 SM44-502299 96 21.85 100.00 78.15 3.38 Mineralised Interval 0.41 0.31 0.02 0.11 0.38 0.05 SM44-405257 97 5.85 56.75 50.90 3.16 Mineralised Interval 0.29 0.29 0.02 0.09 0.23 0.05 & 62.00 63.70 1.70 3.35 Mineralised Interval 0.10 0.06 0.01 0.09 0.08 0.02 & 70.00 72.00 2.00 3.35 Mineralised Interval 0.11 0.07 0.01 0.10 0.09 0.03 SM44-590230B 98 92.65 151.50 58.85 3.34 Mineralised Interval 0.18 0.06 0.01 0.06 0.24 0.02 & 161.30 177.15 15.85 3.23 Mineralised Interval 0.69 0.98 0.03 2.19 1.26 0.14 & 179.30 206.60 27.30 3.25 Mineralised Interval 0.33 0.47 0.02 0.12 0.55 0.05 & 210.00 223.00 13.00 3.37 Mineralised Interval 0.27 0.39 0.01 0.07 0.49 0.03 & 223.00 273.00 55.40 3.36 Mineralised Interval 0.28 0.31 0.01 0.10 0.44 0.03 SM44-573220 99 72.90 234.25 161.35 3.35 Mineralised Interval 0.23 0.16 0.01 0.10 0.35 0.03 & 255.00 315.40 60.40 3.35 Mineralised Interval 0.37 0.32 0.02 0.12 0.54 0.04 SM44-491136 100 30.50 136.45 105.95 3.35 Mineralised Interval 0.23 0.18 0.01 0.11 0.23 0.02 SM44-441148 101 17.00 86.50 69.50 3.35 Mineralised Interval 0.24 0.18 0.02 0.07 0.18 0.02 & 89.50 101.00 11.50 3.35 Mineralised Interval 0.11 0.07 0.01 0.10 0.08 0.03 SM44-404153 102 13.00 66.25 53.25 3.39 Mineralised Interval 0.30 0.25 0.02 0.08 0.21 0.02 & 66.25 70.00 5.00 3.34 Mineralised Interval 0.09 0.08 0.01 0.05 0.05 0.01 SM44-424210 103 15.00 70.70 55.70 3.35 Mineralised Interval 0.22 0.14 0.02 0.09 0.22 0.02 & 73.50 76.50 3.00 3.35 Mineralised Interval 0.11 0.06 0.01 0.10 0.09 0.03 SM44-698307 104 32.00 100.70 68.70 3.30 Mineralised Interval 0.23 0.09 0.02 0.10 0.32 0.03 SM44-660272 105 47.50 125.50 78.00 3.35 Mineralised Interval 0.25 0.11 0.02 0.05 0.30 0.02 SM44-636270 135 75.00 153.50 79.50 3.33 Mineralised Interval 0.24 0.11 0.02 0.09 0.36 0.02 & 156.00 162.00 6.00 3.13 Mineralised Interval 0.29 0.36 0.02 0.17 0.24 0.02 SM44-620315 136 23.00 155.50 132.50 3.36 Mineralised Interval 0.22 0.14 0.01 0.08 0.21 0.02 SM44-494350a 191 16.00 63.00 47.00 3.40 Mineralised Interval 0.48 0.29 0.03 0.09 0.28 0.03 SM44-494350b 192 11.00 64.00 53.00 3.43 Mineralised Interval 0.52 0.50 0.03 0.09 0.31 0.04 SM44-684210 204 272.00 275.00 3.00 3.46 Mineralised Interval 0.42 0.37 0.02 0.11 0.60 0.02 & 295.00 345.60 50.60 3.42 Mineralised Interval 0.34 0.39 0.02 0.09 0.51 0.04

Sama Resources Inc. B - 121-26251-00 2/4 22nd August 2013 HOLE-ID SEQUENCE FROM TO LENGTH Density Material NI CU CO PT PD AU % % % gr/t gr/t gr/t Samapleu Extension 1 Deposit SM24-480735 7 190.50 192.00 1.50 3.35 Mineralised Interval 0.17 0.09 0.01 0.09 0.15 0.03 & 198.00 199.00 1.00 3.35 Mineralised Interval 0.10 0.52 0.01 0.04 0.05 0.02 & 214.80 216.00 1.20 3.35 Mineralised Interval 0.14 0.10 0.01 0.09 0.16 0.02 SM24-661614 12 67.30 244.00 176.70 3.37 Mineralised Interval 0.27 0.20 0.02 0.11 0.49 0.04 & 258.30 289.00 30.70 3.32 Mineralised Interval 0.17 0.27 0.01 0.08 0.38 0.02 & 300.50 306.50 6.00 3.28 Mineralised Interval 0.12 0.21 0.01 0.10 0.50 0.02 SM24-699580 21 72.00 174.00 102.00 3.42 Mineralised Interval 0.20 0.14 0.01 0.06 0.29 0.03 & 198.00 208.00 10.00 3.46 Mineralised Interval 0.23 0.08 0.01 0.03 0.14 0.02 & 211.00 216.00 5.00 3.38 Mineralised Interval 0.12 0.09 0.01 0.07 0.24 0.02 SM24-628651 20 38.55 119.50 80.95 3.38 Mineralised Interval 0.29 0.19 0.02 0.11 0.49 0.03 & 158.00 159.00 1.00 3.35 Mineralised Interval 0.22 0.17 0.01 0.07 0.31 0.03 & 163.20 167.50 4.30 3.35 Mineralised Interval 0.15 0.19 0.02 0.08 0.25 0.03 & 172.00 174.80 2.80 3.37 Mineralised Interval 0.19 0.29 0.05 0.04 0.32 0.02 & 180.50 183.50 3.00 3.35 Mineralised Interval 0.12 0.05 0.01 0.06 0.22 0.02 & 186.00 186.80 0.80 3.35 Mineralised Interval 0.10 0.05 0.01 0.08 0.29 0.02 & 190.00 196.85 6.85 3.64 Mineralised Interval 0.62 0.26 0.03 0.09 1.00 0.04 & 232.00 233.85 1.85 3.50 Mineralised Interval 0.12 0.16 0.01 0.07 0.28 0.03 & 236.00 238.00 2.00 3.50 Mineralised Interval 1.27 0.23 0.05 0.07 0.23 0.04 & 244.00 247.50 3.50 3.10 Mineralised Interval 0.21 0.21 0.03 0.02 0.02 0.02 & 252.00 261.00 9.00 2.89 Mineralised Interval 0.36 0.22 0.02 0.02 0.02 0.02 SM24-594687 22 37.00 96.00 59.00 3.44 Mineralised Interval 0.19 0.11 0.01 0.08 0.35 0.02 & 101.80 104.50 2.70 3.35 Mineralised Interval 0.13 0.07 0.01 0.06 0.13 0.03 & 116.00 117.50 1.50 3.33 Mineralised Interval 0.10 0.11 0.01 0.15 0.14 0.18 & 119.00 120.50 1.50 3.33 Mineralised Interval 0.10 0.07 0.01 0.14 0.16 0.13 & 136.50 201.00 64.60 3.39 Mineralised Interval 0.19 0.09 0.01 0.08 0.33 0.02 & 212.00 242.00 30.00 3.37 Mineralised Interval 0.18 0.19 0.01 0.07 0.31 0.02 SM24-699656 107 46.65 55.35 8.70 3.40 Mineralised Interval 0.41 0.47 0.02 0.12 0.88 0.06 & 58.00 59.10 1.10 3.28 Mineralised Interval 0.38 0.72 0.02 0.22 0.76 0.02 & 72.45 73.55 1.10 3.28 Mineralised Interval 0.19 0.28 0.01 0.02 0.23 0.02 SM34-070500 132 29.00 160.00 131.00 3.36 Mineralised Interval 0.17 0.10 0.01 0.07 0.13 0.02 SM24-699656b 133 36.00 76.00 40.00 3.36 Mineralised Interval 0.25 0.14 0.02 0.11 0.49 0.02 & 98.00 103.00 5.00 3.35 Mineralised Interval 0.22 0.13 0.01 0.09 0.42 0.01 SM24-628651b 134 42.80 46.40 3.60 3.35 Mineralised Interval 0.19 0.09 0.01 0.04 0.26 0.01 SM24-664688 137 27.50 84.00 56.50 3.39 Mineralised Interval 0.29 0.21 0.02 0.10 0.55 0.01 SM24-679708 138 35.00 181.10 146.10 3.39 Mineralised Interval 0.27 0.16 0.02 0.08 0.37 0.01 SM24-645670 139 30.70 42.50 11.80 3.42 Mineralised Interval 0.54 0.31 0.03 0.10 0.79 0.03 SM24-648707 140 21.00 26.00 5.00 3.41 Mineralised Interval 0.24 0.08 0.02 0.03 0.24 0.01 & 39.40 110.60 71.20 3.35 Mineralised Interval 0.22 0.15 0.02 0.06 0.29 0.01 SM24-683671 141 42.00 80.00 39.60 3.36 Mineralised Interval 0.22 0.13 0.02 0.09 0.34 0.01 SM24-628688 142 22.50 33.00 10.50 3.46 Mineralised Interval 0.36 0.32 0.03 0.17 0.61 0.03 & 41.30 51.00 9.70 3.38 Mineralised Interval 0.38 0.31 0.02 0.10 0.68 0.04 SM24-699690 143 57.50 187.40 129.90 3.37 Mineralised Interval 0.22 0.15 0.02 0.07 0.31 0.01 & 190.80 193.00 2.20 3.23 Mineralised Interval 0.27 0.29 0.02 0.13 0.49 0.01 SM24-696731 144 42.50 72.10 29.60 3.26 Mineralised Interval 0.21 0.13 0.02 0.27 0.43 0.01 & 75.10 137.80 62.70 3.33 Mineralised Interval 0.17 0.12 0.01 0.07 0.25 0.01 & 139.30 143.30 4.00 3.34 Mineralised Interval 0.11 0.12 0.01 0.09 0.09 0.02 & 186.00 250.00 35.50 3.33 Mineralised Interval 0.19 0.11 0.01 0.10 0.29 0.02 & 252.85 253.80 0.95 3.33 Mineralised Interval 0.30 0.16 0.02 0.31 0.41 0.02 SM24-717672 145 43.85 143.60 99.75 3.37 Mineralised Interval 0.25 0.18 0.02 0.07 0.36 0.01 & 143.60 144.20 0.60 3.30 Mineralised Interval 0.00 0.00 0.00 0.00 0.00 0.00 & 146.50 151.45 4.95 3.35 Mineralised Interval 0.17 0.09 0.01 0.06 0.27 0.01 SM24-736697b 147 94.10 102.00 7.90 3.48 Mineralised Interval 0.53 0.49 0.03 0.20 0.85 0.04 & 105.00 106.50 1.50 3.35 Mineralised Interval 0.13 0.13 0.01 0.08 0.21 0.06 & 108.80 133.60 24.80 3.36 Mineralised Interval 0.26 0.10 0.02 0.07 0.31 0.01 & 136.60 163.20 26.60 3.36 Mineralised Interval 0.24 0.10 0.02 0.10 0.31 0.01 & 167.50 169.00 1.50 3.35 Mineralised Interval 0.12 0.06 0.01 0.13 0.13 0.06 SM24-760709 150 115.75 121.70 5.95 3.44 Mineralised Interval 0.58 0.81 0.02 0.19 1.21 0.07 & 126.75 131.00 4.25 3.40 Mineralised Interval 0.29 0.48 0.02 0.09 0.76 0.03 & 133.50 135.05 1.55 3.39 Mineralised Interval 0.19 0.39 0.01 0.05 0.35 0.02 & 146.50 196.20 49.70 3.36 Mineralised Interval 0.21 0.14 0.01 0.11 0.35 0.02 SM24-737618a 152 26.00 48.00 22.00 3.36 Mineralised Interval 0.39 0.25 0.02 0.12 0.95 0.04 SM24-737618b 153 25.00 50.80 25.80 3.37 Mineralised Interval 0.23 0.17 0.01 0.21 0.53 0.04 & 50.80 52.00 1.40 3.35 Mineralised Interval 0.16 0.06 0.01 0.06 0.27 0.02 & 52.00 55.00 5.00 3.35 Mineralised Interval 0.12 0.06 0.01 0.06 0.26 0.02 SM24-772654 154 34.25 184.50 150.25 3.37 Mineralised Interval 0.26 0.16 0.02 0.07 0.32 0.01 SM24-721711 155 93.70 96.50 2.80 3.30 Mineralised Interval 0.00 0.00 0.00 0.00 0.00 0.00 & 107.55 128.00 33.90 3.34 Mineralised Interval 0.13 0.09 0.01 0.10 0.29 0.02 & 146.40 148.00 1.60 3.37 Mineralised Interval 0.25 0.09 0.01 0.06 0.32 0.00 & 215.00 223.00 8.00 3.35 Mineralised Interval 0.22 0.06 0.02 0.09 0.35 0.01 & 228.00 234.00 6.00 3.35 Mineralised Interval 0.20 0.17 0.01 0.17 0.44 0.01 SM24-631727 193 33.00 132.80 99.80 3.36 Mineralised Interval 0.23 0.13 0.02 0.06 0.29 0.01 SM24-716747 194 151.70 181.50 29.80 3.35 Mineralised Interval 0.16 0.07 0.01 0.06 0.22 0.01 SM24-665760 195 34.90 37.00 2.10 3.35 Mineralised Interval 0.20 0.58 0.01 0.03 0.36 0.04 & 60.00 120.00 60.00 3.36 Mineralised Interval 0.21 0.18 0.01 0.07 0.31 0.02 & 173.50 194.50 21.00 3.35 Mineralised Interval 0.24 0.16 0.02 0.17 0.40 0.01 & 196.00 197.00 1.00 3.35 Mineralised Interval 0.10 0.01 0.01 0.11 0.09 0.02 SM24-627794 196 35.45 87.00 51.55 3.45 Mineralised Interval 0.30 0.16 0.02 0.23 0.37 0.02 SM24-771588 197 70.00 77.00 7.00 3.36 Mineralised Interval 0.30 0.53 0.02 0.11 0.51 0.03 & 80.00 91.35 11.35 3.28 Mineralised Interval 0.36 0.40 0.02 0.10 0.62 0.03 SM25-009620 198 33.75 84.00 50.25 3.44 Mineralised Interval 0.53 0.55 0.03 0.14 0.90 0.05 & 126.00 183.00 57.00 3.38 Mineralised Interval 0.32 0.14 0.02 0.09 0.52 0.02 SM25-080542 200 25.00 63.50 38.50 3.39 Mineralised Interval 0.46 0.50 0.02 0.12 0.85 0.04 & 66.50 136.00 69.50 3.37 Mineralised Interval 0.25 0.28 0.02 0.07 0.51 0.02 SM25-039587 199 32.60 161.80 129.20 3.34 Mineralised Interval 0.26 0.17 0.01 0.06 0.41 0.02

Sama Resources Inc. B - 121-26251-00 3/4 22nd August 2013 HOLE-ID SEQUENCE FROM TO LENGTH Density Material NI CU CO PT PD AU % % % gr/t gr/t gr/t SM25-004552 205 55.60 57.00 1.40 3.28 Mineralised Interval 0.22 0.19 0.01 0.06 0.29 0.05 SM24-603758 201 18.30 42.50 24.20 3.35 Mineralised Interval 0.13 0.11 0.01 0.08 0.17 0.03 & 55.50 139.75 84.25 3.37 Mineralised Interval 0.21 0.11 0.02 0.05 0.27 0.01 SM24-572790 202 17.00 23.00 6.00 3.35 Mineralised Interval 0.16 0.17 0.01 0.07 0.36 0.03 & 29.50 37.85 8.35 3.35 Mineralised Interval 0.15 0.09 0.01 0.05 0.17 0.01 & 45.00 46.50 1.50 3.35 Mineralised Interval 0.10 0.05 0.01 0.00 0.02 0.01 & 99.50 101.00 1.50 3.35 Mineralised Interval 0.10 0.16 0.01 0.03 0.02 0.02 & 106.15 106.85 0.70 3.35 Mineralised Interval 0.10 0.18 0.01 0.01 0.05 0.03 & 111.00 124.75 13.75 3.34 Mineralised Interval 0.20 0.08 0.02 0.07 0.27 0.02 SM34-603026 203 41.20 96.00 56.30 3.37 Mineralised Interval 0.21 0.14 0.01 0.07 0.32 0.03 & 103.00 123.00 20.00 3.35 Mineralised Interval 0.14 0.08 0.01 0.06 0.17 0.04 SM34-098547 207 13.85 75.10 61.25 3.35 Mineralised Interval 0.28 0.21 0.01 0.07 0.28 0.02 & 79.50 93.50 14.00 3.35 Mineralised Interval 0.11 0.04 0.01 0.01 0.04 0.00 SM24-736697 106 Nil SM25-045506 206 Nil SM25-300360 108 Nil SM34-023171 217 Nil SM34-170475 216 Nil SM34-313349 214 Nil SM34-236411 215 Nil

Yorodougou dyke Deposit SM19-420430 10 95.60 97.80 2.20 3.31 Mineralised Interval 0.12 0.07 0.01 0.31 1.04 0.03 & 143.30 173.00 29.70 3.35 Mineralised Interval 0.21 0.13 0.01 0.08 0.31 0.04 & 175.85 186.20 10.35 3.35 Mineralised Interval 0.11 0.09 0.01 0.02 0.04 0.02 & 190.50 196.30 5.80 3.34 Mineralised Interval 0.11 0.03 0.01 0.02 0.04 0.02 & 199.75 203.50 3.75 3.35 Mineralised Interval 0.13 0.05 0.02 0.02 0.03 0.02 & 211.70 240.00 28.30 3.35 Mineralised Interval 0.23 0.28 0.02 0.08 0.39 0.05 SM18-650730 9 Nil SM18-650730b 11 Nil SM28-465020 8 Nil

Regional Exploration SM23-675562 13 Nil SM24-045436 14 Nil SM13-643477 16 126.00 130.00 4.00 3.35 Mineralised Interval 0.14 0.00 0.01 0.02 0.02 0.02 & 133.00 133.90 0.90 3.35 Mineralised Interval 0.13 0.00 0.01 0.02 0.02 0.02 & 135.00 137.25 2.25 3.35 Mineralised Interval 0.13 0.00 0.01 0.02 0.02 0.02 SM13-509544 24 54.20 54.90 0.70 3.50 Mineralised Interval 0.13 0.15 0.02 0.00 0.00 0.01 & 76.00 76.95 0.95 3.50 Mineralised Interval 0.12 0.16 0.02 0.00 0.02 0.01 & 80.00 80.60 0.60 3.50 Mineralised Interval 0.10 0.07 0.01 0.00 0.04 0.02 & 88.00 89.00 1.00 3.50 Mineralised Interval 0.10 0.10 0.01 0.00 0.02 0.04 & 100.20 100.50 0.30 3.28 Mineralised Interval 0.20 0.04 0.01 0.01 0.02 0.01 SM12-602773 19 Nil SM13-210578 23 Nil SM13-390536 25 Nil SM47-112695 151 Nil SM47-206789 146 Nil SM47-287614 149 Nil SM56-775052 148 Nil

Sama Resources Inc. B - 121-26251-00 4/4 22nd August 2013