GM 59670 TECHNICAL REPORT, ALLARD RIVER PROPERTY GÉOCONSEIL JP Mineral Exploration Services

CARIBGOLD RESOURCES INC Allard River property Daniel Township, Qc, Cnd. NTS 32F13

TECHNICAL REPORT

Jean-Pierre Cloutier, B.Sc. March 01, 2001 (Revised August 23, 2001)

MRN-GÉOINFORMATION 2002 GM 59670 p,~ -/37-D/À SUMMARY

The Allard River property of Caribgold Resources Inc is situated in the prolific Matagami Mining Camp of Northwestern Quebec. The property is owns 100% by Caribgold Resources Inc subject to a 2% NSR royalty. It is located at 18 km WNW from the town of Matagami and consists of 119 mineral claims covering 1,847 hectares. The property occurs in the south central part of Daniel township and the southwest area of NTS map 32F13.

REGIONAL GEOLOGICAL SETTING Matagami Mining Camp is located in the northern part of the Abitibi Greenstone Belt of the Abitibi sub-province. The most outstanding geological feature of the area is the Bell River Complex. It consists of a large layered mafic intrusion of oval shape measuring 70 km EW by 15 km NS. The Complex is at the core of the Galinée Anticline. This anticline is a major fold structure. The fold has a steep vertical axial plan striking WNW to EW with its axis gently plunging to the west. The Bell River Complex is injected locally but mostly in its eastern part by massive granodioritic intrusions of the Olga pluton.

The western end of the Bell River Complex is surmounted by a lower succession of rhyolitic volcanics of the Watson Group and a upper succession of basaltic volcanics of the Wabassee Group. The two groups occur on both side of the Galinée Anticline. The contact between the two volcanic groups is marked by a few centimetres to several meter-thick exhalative and pyroclastic unit locally referred as the "Key Tuffite". All base metals deposits discovered so far are spatially related to the Key Tuffite.

Rocks encountered in the north flank of the Galinée Anticline are enclosed in a 5-km wide strongly deformed zone called the Garon Lake Deformation Zone (GLDZ). This zone is vertical and oriented in an east-west direction. Rocks encountered in the south flank of the fold are relatively undeformed. They strike NW and dip gently to the SW.

Base Metals Mineralisation Matagami Camp is renowned for its base metal mineralisation and volcanogenic massive sulfide (VMS) deposits. Deposits occur on both sides of the Galinée Anticline. The geology of the VMS deposits of the South Flank is well documented. Their morphology is quite characteristic. The root of the sulfide deposits consists of discordant and altered zones called chimneys. The chimneys consist of disseminated to stringer- type sulfides, talc and magnetite in various proportion. They transgress and occur in the upper part of the Watson rhyolite unit. The top of the chimneys is capped by a concordant zone composed of layered Fe-Zn-Cu massive sulfides. The massive sulfide zone interfingers but is mostly capped by the Key Tuffite. The later constitutes the underlying rock unit of the Wabassee basalt.

The Key Tuffite is believed to have been deposited concomitantly but mostly at the end process of the sulfidic mineralisation over the massive sulfide zone. The Key Tuffite is quite extensive in the area and constitutes a marker horizon for VMS exploration.

2 VMS deposits of the North Flank occur within the GLDZ. Their original morphology is believed to be comparable as the South Flank deposits but would have been transgressed by complex faulting and alteration.

Ten major Zn-Cu-Ag orebodies were discovered in the Matagami Camp. Production and reserves accounted for 44Mt of ore at a grade of 8,77% Zn, 0,89% Cu, 28,47g/t Ag and 0,47 g/t Au. Only one deposit, Bell Allard Mine of Noranda Inc, remains in operation. In 2000, Bell Allard reserves were estimated at 3.2MT at a grade of 13,77% Zn, 1,50% Cu, 43,45g/t Ag and 0,76 g/t Au.

Late in 2000, Noranda announced the discovery of three new closely-grouped massive sulfide zones (Perseverance, Perseverance West and Equinox zones). Resources as reported by Noranda were estimated at 5MT of massive sulfides at a grade of 16,8% Zn, 1,3% Cu, 34,0 git Ag and 0,4 git Au.

GEOLOGICAL SETTING OF THE PROPERTY Rocks on the property are relatively well exposed. They consist of thin and regular beds of basalt and andesite of the Wabassee Group. The southern part of the property is underlain by flat lying to gently dipping undeformed and unaltered basalt. It is crossed in an east-west direction by the axial plan of the Galinée Anticline. Andesite occurs in the northern part of the property. Minor folding is observed within this area. A regional east- northeast trending diabase dyke crosses the extreme northern part of the property.

Rhyolite of the Watson Group occurs less than 1,000 metres east of the property. This area corresponds to the nose of the Galinée Anticline at the Wabassee basalt / Watson rhyolite contact zone.

Three faint geophysically inferred faults crossed the property in an east-west direction. They could correspond to the westward extension of the GLDZ. However, no field evidence was ever mentioned for its presence on the property. The abrupt end of the GLDZ could be explained by different hypothesis. The latest one is postulated by Noranda Exploration that suggested a NNW trending fault, Daniel Fault, crossing the nose of the Galinée Anticline at the Wabassee basalt / Watson rhyolite contact zone. if confirmed, Daniel Fault would cross the property in its northern area.

EXPLORATION POTENTIAL OF THE PROPERTY: The property is located in an environment of potential base metal mineralisation. The eastern part of the property is located some 1,000 metres west of former New Hosco mine. This mine produced 1,8 Mt at a grade of 1,73% Zn, 1,73% Cu and 10,29 g/t Ag. The property is also located at 5 km northwest from the new VMS discoveries of Noranda Exploration and at one kilometre southwest of the Thunderwood Zone where substantial base metal mineralisation is reported.

Most of the previous exploration work carried out on the property was done between 1956 and 1967. The work consisted in isolated geophysical coverage using electromagnetic and magnetic methods in search of massive base metals mineralisation. Only weak conductors were picked up.

3 Thirty-three (33) holes were drilled for a total of 5 273 metres. Holes were drilled across weak and shallow geophysical conductors or were drilled across potentially favourable stratigraphy. Narrow and weakly mineralized zones were intersected in a few holes. The mineralisation consists of quartz veins and veinlets, carbonate, chlorite, and trace of pyrite and chalcopyrite. No assay is reported and no lithogeochemical analysis was ever performed as it was not popular at this time.

Not far from the property, the new Noranda Exploration discoveries indicated a much more complex structural environment as previously thought. Although not published yet, east-west faulting would have displaced mineralized blocks. It worth of mention that previous regional airborne geophysical survey did not picked up any anomaly over of the discoveries.

The structural environment of the Allard River property looks monotonous being only disturbed by the gentle folding of Wabassee basalts and the presence of the Galinée Anticline axis crossing the property. The exact plunge of the fold axis along the nose of the fold is not known. However, assuming a 30° west plunge, the Key Tuffite and the New Hosco potential extension would cross the eastern property limit at a depth of 1,000 metres. A shallower plunge would bring this contact even closer to surface.

The effects of the postulated Daniel Fault could only be guessed. It is presumed that the Daniel Fault displaced its western block in a downward plunge pushing the potential Key Tuffite marker farther away from surface.

Considering all above structural uncertainties, the structural environment of the property appears much more complex than expected. It has been said that VMS deposits are restricted to the upper part of the Watson rhyolite. However, sulfide mineralisation is reported in overlying Wabassee basalts at Matagami Mine deposit. It is thus possible that alteration zones and mineralisation could have been extended vertically in overlying Wabassee basalt. Weak mineralisation and alteration zones intersected in drilling on the property could be chimneys and alteration zones related to a nearby VMS deposit.

EXPLORATION PROGRAM AND BUDGET Exploration work is recommended on the property. The work is oriented toward the discovery of disseminated and stringer-types sulfide mineralisation. This mineralisation could be associated with an alteration pipe related to VMS deposits. Potential areas for VMS would not only be restricted to the Watson / Wabassee Groups interface but also in overlying Wabassee basalt where VMS could be discovered.

Proposed work consists in two phases for a total of 400 000$. Phase I (150 000$) consists in line cutting and induced polarisation survey across the entire property. Phase II (250 000$) consists in diamond drilling across IP anomalies and across geological targets. Crone Pulse EM is recommended for all holes greater than 250 metres.

April 1, 2001 (Revised August 23, 2001)

4 TABLE OF CONTENT

SUMMARY 2

1 INTRODUCTION ô

1.1 GENERAL 8

1.2 TERMS OF REFERENCE 8

1.3 SOURCES OF INFORMATION 9

2 PROPERTY 9

2.1 LOCATION, ACCESS and PHYSIOGRAPHY 9 2.1.1 Location: 9 2.1.2 Access: 9 2.1.3 Physiography 9

2.2 PROPERTY DESCRIPTION 10 2.2.1 Dimension and Validity 10 2.2.2 Renewal regulations 10 2.2.3 Ownership and other Obligations 10

2.3 INFRASTRUCTURES and LOCAL RESOURCES 11

3 HISTORY 11

3.1 General 11

3.2 Geological and Mining History 11 3.2.1 General 11 3.2.2 Sulfide Deposits 12

4 PREVIOUS WORK ON THE PROPERTY 14

4.1 INTRODUCTION 14

4.2 WORK DONE 14

5 REGIONAL GEOLOGY Q

5.1 GENERAL 19

5.2 ROCK UNITS 20 5.2.1 GENERAL 20 5.2.2 LAC WATSON GROUP 20 5.2.3 WABASSEE GROUP 20

5 5.2.4 BELL RIVER COMPLEX 21

5.3 STRUCTURE 21 5.3.1 GENERAL 21 5.3.2 GALINÉE ANTICLINE 22 5.3.3 LAC GARON FAULT ZONE (ZDLG) 22 5.3.4 DANIEL FAULT 22 5.3.5 EW FAULTS 23

6 PROPERTY GEOLOGY AND MINERALISATION 23

6.1 GENERAL 23

6.2 ROCK TYPES 24 6.2.1 Basalt 24 6.2.2 Andesite 24 6.2.3 Diorite 24 6.2.4 Diabase (bike 25

6.3 STRUCTURE 25 6.3.1 Galinée Anticline 25 6.3.2 Daniel Fault 25 6.3.3 LW Faults 26

6.4 LITHOGEOCHEMISTRY 26

7 MINERALISATION 26

7.1 REGIONAL VMS DEPOSITS. 26 7.1.1 SOUTH FLANK VMS 26 7.1.2 NORTH FLANK VMS 28

7.2 MINERALISATION ADJACENT TO THE PROPERTY 28 7.2.1 NEW HOSCO VMS DEPOSIT 29 7.2.2 PERSEVERANCE, PERSEVERANCE WEST AND EQUINOX VMS DEPOSITS 30 7.2.3 THUNDERWOOD MINERALIZED ZONE 31

7.3 MINERALISATION ON THE PROPERTY 32

8 CONCLUSIONS AND EXPLORATION POTENTIAL 32

9 EXPLORATION PROGRAM AND BUDGET 35

10 CERTIFICATE OF QUALIFICATION 37

11 REFERENCES 39

6 LIST OF FIGURES

Figure 1 General Location index

Figure 2 Regional Location index

Figure 3 Property Claim map index

Figure 4 Regional Geology index

Figure 5 Regional Geology and High Magnetic Zones pocket

Figure 6 Property Geology (from MB 86-32) pocket

Figure 7 Property Geology and Previous Drill Hole Results pocket

LIST OF TABLES

Table 1 Claim List index

Table 2 Previous Drill Holes index

Table 3 Production and Reserves of VMS Deposits index

Table 4 150 000$ Budget Forecast index

Table 6 All Property - Proposed Line Cutting index

Table 7 GLDZ Extension — Proposed Line Cutting index

LIST OF ANNEXES

Annex 1 Registered Claim List (MRNQ - Index des Titres Paramétrisés)

Annex 2 List of QERDEM reports — Daniel Township (parts 6, 7, 10 and 11)

Annex 3 List of QERPUB reports — Daniel Township (parts 6, 7, 10 and 11)

Annex 4 List of THESIS — Matagami Area

Annex 5 List of QERDEM reports — Allard River Claims Property

7 1 INTRODUCTION

1.1 GENERAL Caribgold Resources Inc (Caribgold) is a company listed on the Toronto Stock Exchange (TSE) under the symbol CG. It is classed as a junior natural resource mining company.

Caribgold owns interests in various mineral properties in Canada, Cuba and Switzerland.

Amongst Caribgold properties in Canada, Allard River property (property) is a Caribgold- 100%-own. The property is located in Daniel township of Matagami area, province of Quebec, Canada.

The property was acquired for its base metals (Cu-Zn) exploration potential. New Noranda Exploration discoveries and former New Hosco base metal producer and are located 5km SW and 1 km east of the property respectively.

In November 2000, the property was the subject of an evaluation report. This report was written by Jean-Pierre Cloutier (writer), a geologist with more than 30 years of relevant experience in mineral exploration and project assessment, and a member in good standing of a professional association (APGGQ: "Association Professionnelle des Géologues et Géophysiciens du Québec").

In March 2001, David Bell, president of Caribgold, requested the writer to review its former report in conjunction with the inclusion of 16 additional claims.

In August 2001, the report was again reviewed. Three new claims and a Phase ii exploration program were added.

1.2 TERMS OF REFERENCE The present report is a technical report written in conformity with National Policy Statement 2-A (Guide for Mining Engineers, Geologists and Prospectors) and upgraded with proposed National Instrument 43-101 (Standards of Disclosure for Mineral Projects) with its form 43-101 F1 (technical reports).

The objective of this report is to provide scientific and technical information concerning mineral exploration on the property, and to demonstrate its exploration potential.

8 1.3 SOURCES OF INFORMATION Sources of this report are various from government files, thesis and scientific publications, personnel contacts.

Government files include public geological reports and assessment work files. The later are available at any resident geologist office as microfiches, printed reports and maps.

2 PROPERTY

2.1 LOCATION, ACCESS and PHYSIOGRAPHY

2.1.1 Location: The property is located in Matagami area, Northwestern Quebec. It lies, in direct line, at about 18 km WNW from the town of Matagami (Figure 1).

It is included between longitudes 77°50'N and 77°55'N, and between latitudes 49°45'W and 49°50'N. It is covered by NTS map 32F13.

The property is more specifically located in ranges Ill to VII of Daniel township, Québec, between Allard and Goudult rivers (Figure 3).

2.1.2 Access: Access is easy via a paved road branching off from highway 109 going to Matagami (Figures 2 and 3). Secondary forestry roads and trails give access to various areas of the property.

2.1.3 Physiography Physiooraphv: The property is almost tree-free since its major cut-operation done early in the 90's. It is flat except for a few small hills. Elevations range from 250 to 300 meters above sea level.

There is a major river, the Allard River running NS located just a few hundred meters east of the property. It flows north into Matagami Lake, then into Nottaway River and northward to James Bay (Figure 2).

There are numerous outcrops dispersed in crowded zones. Overburden consists of lacustrine deposits of glacial-lake Barlow-Ojibway.

9 2.2 PROPERTY DESCRIPTION

2.2.1 Dimension and Validity The property consists of one block of 119 unsurveyed and adjacent mineral claims. The block has an irregular rectangular shape covered within a 5,5km by 7,5km rectangle (Figure 3).

The property covers an area of 1,847 hectares. Claim expiration dates are different whether they are land or water-covered claims.

Coverage types Number Hectares Expl. Date Land-cover claims 100 1,547 July 20, 2002 Water-cover claims 16 252 January 28, 2003 Water-cover claims 3 48 April 18, 2004 Total 119 1.847

2.2.2 Renewal regulations Renewal regulations: In Quebec, the mining law and regulations is under the jurisdiction of the "Ministère des Ressoures Naturelles du Québec" (MRNQ).

To renew a claim of less than 16 hectares for an additional period of two years, exploration expenditures of $500 per claim and a renewal fee of $22 per claim is required by the MRNQ. Cost to renew all claims for an additional period of two years is as follow:

Coverage types Expl. Date Renewal Fees Expl. Expenditures Land-cover claims July 20, 2002 2,200$ 50,000$ Water-cover claims January 28, 2003 352$ 8,000$ Water-cover claims April 04, 2004 66$ 1,500$

Total 2,618$ 59,500$

2.2.3 Ownership and other Obligations Caribgold owns 100% interest in the property subject to a total 2% NSR to Michel Lavoie (1%) of St-Antonin, Qc, and Alain Auger (1%) of Matagami, Qc.

Caribgold has an option to buyback a 1 %-NSR royalty for the sum of 2M$ and a right of first refusal to any third party purchase of Lavoie and Auger's NSR.

There is no other legal matter except to respect and be in conformity with municipal, provincial and federal laws and regulations.

10 2.3 INFRASTRUCTURES and LOCAL RESOURCES The property has the privilege to be in the immediate environment of mining and lumber activity-related Matagami town. Matagami is less than 20 km by paved road from the property. The airport with a paved runway is located at 5 km SW of the property.

Matagami has all infrastructures and experience work force to sustain major mining operations. Bell Allard Mines is the only mine in operation. Noranda Inc manages it. The ore of Bell Allard Mines is trucked to Matagami Mines mill about 3,5 km NW of the mine. Matagami Lake mill is only at 14 km from Caribgold property.

3 HISTORY

3.1 General Allard River property lies in the Matagami area located in the Northwestern Québec. The village of Matagami, with its 2 300 inhabitants, is the only community around. Matagami was founded in 1963. The village is located on the western bank of Bell River which flows into Lake Matagami together with Allard and Waswanipi Rivers.

The two main employers are Noranda Inc (Bell Allard Mines) and Domtar involved in mining and forestry activities respectively. Matagami was also associated with the construction of the James Bay road, which run further north to several major hydroelectric power plants.

3.2 Geological and Mining History:

3.2.1 General In 1895 then in 1900, Robert Bell was the first geologist to map the area. In 1912, Bancroft recognized a vast area underlain by gabbro-anorthosite (Bell River Complex). In 1936, Freeman did more detailed reconnaissance mapping. In 1938, systematic mapping resulted in map publications by Langley (1943), Freeman and Black (1944) and Beland (1953).

The results of above mentioned government geologists attracted the interest of several mining exploration companies. Several important massive sulfide deposits were discovered.

Subsequent to the discovery by Matagami Lake Mines of the first massive sulfide discovery, the Ministry of Natural Resources of Quebec (MRNQ) initiated more detailed geological mapping in the area. The work was done by Sharpe (1961 to 1963). Volcanic rocks of the Matagami area were subdivided in two major geological groups (Watson

11 and Wabasse Groups), which are still in use today (Sharpe, 1968). Sharpe also included in his report (RG 137) detailed description of existing major ore deposits.

Other work was done by MacGeehan (1979) on the east side of Bell River and Beaudry (1984) on the south part of Daniel township.

In 1981 and 1984, Matagami area was covered with a regional Input Mk VI airborne electromagnetic (DP 819 and DP 84-26) and a magnetic survey (DV 85-13 and 85-18). Aeromagnetic data were reprocessed in a more appropriate version (DV 90-28 and 90- 29).

Since 1964, numerous academic works were done in-house by mining companies and by individual geologists at various universities as Master and Doctorat thesis (Annex 4).

All work reports filed to the MRNQ for property renewal are available for consultation or purchase at any MRNQ office. Those reports are in microfiche format.

The MRNQ also developed for public use three major databases, which are very useful for explorationists. Those three databases are Examine, SIGEOM and Gestim. Examine is an index database including all filed documents. It is available free on Internet. All filed reports are compiled in SIGEOM. Products available are in digital format and in printed maps at 1: 20 000 and 1:50 000 scale maps. In a near future, SIGEOM will be available on Internet.

Effective November 22 of the year, all claim data would also be available from Gestim database. This date will also coincide with the application of a revised mining law. Claims will then be acquired by map designation. Some area though will still staked in the old fashion way. Gestim should be available at the effectiveness date of the revised mining law.

3.2.2 Sulfide Deposits Ten sulfide deposits were discovered in the Matagami area for a total production of 44Mt of ore at a grade of 8,77% Zn, 0,89% Cu, 28,47g/t Ag and 0,47 g/t Au. Deposits were found on both side of a major geological structure referred as the Galinée Anticline. Their history is told for their respective south or north flank affiliation.

South Flank Deposits: In 1956, a consortium of mining exploration companies constituted the Matagami Syndicate. In 1957, a first hole drilled across an electromagnetic conductor intersected massive sulfide mineralisation. The first deposit, Matagami Lake Mines, was discovered. The deposit was brought into production in 1963 and operated until its closure in 1988. More than 25, 6 MT of ore was mined out at a grade of 8,20% Zn, 0,56% Cu and 20,9 g/t Ag.

12 In 1958, a second deposit, Orchan Mines, was discovered. R operated from 1963 to 1982 and produced 4,5 Mt at a grade of 9,84% Zn, 1,02% Cu and 37 g/t Ag.

In 1968, Orchan Mines operated Bell Allard South deposit. From 1968 to 1970, 0,23 Mt at a grade of 9,24% Zn, 1,14% Cu and 37 g/t Ag was mined out.

In 1985, Noranda Inc discovered Isles Dieu deposit. The deposit was in production from 1988 to 1997. It produced 3,05 Mt at a grade of 17,85% Zn, 1,01% Cu and 76,6 g/t Ag.

In 1999, Noranda Inc bring into production Bell Allard deposit. In 2000, Bell Allard Mines is the only operating mine in Matagami area. Reserves are estimated at 3,2 Mt at a grade of 13,77% Zn, 1,50% Cu and 45,4 g/t Ag.

In 2000, Noranda announced the discovery of three small massive sulfide deposits (Perseverance, Perseverance West and Equinox) located about 5 km northwest from Isles Dieu deposit and just in front of Matagami aerodrome and airstrip. In a press release dated October 30 (Noranda Inc), resources were estimated at 5 Mt at a grade of 16,8% Zn, 1,3% Cu and 34 g/t Ag. Late November, five drill rigs were in operation across all three deposits.

North Flank Deposits: In 1963, New Hosco deposit was brought into production by Orchan Mines. From 1963 to 1970, 1,8 Mt were mined out at a grade of 1,73%Zn, 1,73% Cu and 10,3 g/t Ag.

In 1973, Garon Lake deposit was developed by Orchan Mines. From 1973 to 1975, Garon Lake Mines produced 0,47 Mt at a grade of 2,17% Zn, 1,46% Cu and 10,3 g/t Ag.

In 1957, Radiore Uranium Mines and Amagami Mines discovered the Norita deposit. In 1971, Noranda optioned it and bought it in 1980. From 1975 to 1997, Norita (1975 to 1990) and Norita East (1992 to 1990) produced 4,98 Mt of ore at a grade of 5,30% Zn, 1,61% Cu and 29 g/t Ag.

Other little deposits were Radiore no 2 which produced from 1979 to 1980, 0,14 Mt at a grade of 1,34% Zn, 1,57% Cu and 8,57 g/t Ag, and Radiore West and Bell Channel which resources did not justify any exploitation.

13 4 PREVIOUS WORK ON THE PROPERTY

4.1 INTRODUCTION All exploration work carried out on the property was done between 1956 to 1967. Most of the work filled at the MRNQ consist in drill hole logs and poor quality-maps of local ground electromagnetic and magnetic surveys.

Thirty-three holes were drilled within the property limit for a total of 5 273 metres (Figure 7, Table 2 and Annex 5). Much more holes were drilled outside but adjacent to the eastern property limit. The results of those holes are also considered in the present evaluation of the property.

No anomaly or electromagnetic conductor is indicated on Input electromagnetic survey (DP 84-26). This result rule out the possibility of a near surface conductive massive sulfide deposit.

Few poorly defined and weak electromagnetic conductors and short high magnetic axis are indicated from previous ground surveys (Annex 5). Most of the holes drilled across those conductors seems to explain any of the poor electromagnetic conductors. Other holes were apparently drilled across inferred geological structures and along the presumed western extension of New Hosco deposit.

Some of the rock types mentioned in drill logs would be named differently nowadays. Rock description is more important than rock name in previous logs. For example, it is possible that porphyric trachyte in one hole and porphyritic basalt in a nearby hole being the same rock type but called differently by different geologist at different time. This appreciation is important as it avoid the inference of a fault traced on previous maps where no such fault exist. There is no mention of significant mineralisation or rock alteration.

4.2 WORK DONE (References: Figure 7 and Table 2)

1958 Claims Insley, O'Brien Gold Mines Ltd (GM 07341-A) Magnetic, electromagnetic and resistivity surveys are done on part of the actual property.

1958 Claims Insley, O'Brien Gold Mines Ltd (GM 07341-B) Five holes are drilled of which four on the actual property. All holes were drilled to intersect the westward extension of New Hoscoe Mines located some 2 000 metres east of the holes.

14 Sigeom hole 1156 (Original hole no 1) was drilled to a depth of 198 metres on SE azimuth and a 50° inclination. The hole intersected massive, spherulitic and pillowed dacite. Diorite was intersected toward the bottom.

Sigeom hole 1158 (Original hole no 3) was drilled to a depth of 215 metres on NS azimuth and a 50° inclination. The hole intersected similar rocks as in hole 1.

Sigeom hole 1159 (Original hole no 4) was drilled to a depth of 122 metres on north azimuth and a 50° inclination. This hole was drilled 1 300 metres NW from holes 1, 3 and 5. The hole intersected dacite with local quartz veining, carbonate and minor felsic intrusive.

Sigeom hole 1160 (Original hole no 5) was drilled to a depth of 92 metres on south azimuth and a 45° inclination. The hole intersected pillowed dacite.

1958 New Hosco Mines (GM 8291C) One hole is drilled on the actual property. Sigeom hole 306 (Original hole E-12) was drilled to a depth of 187 metres on southwest azimuth and a 50° inclination. The hole intersected trachyte flow breccia with minor quartz and carbonate veinlets.

1959 Anchor Petroleums Ltd — Donalda Mines (GM 08401 B) One hole is drilled on the actual property. Sigeom hole 1149 (Original hole 1) was drilled to a depth of 152 metres on south azimuth and a 45° inclination. The hole intersected andesite to 58 m, diabase to 75 m, and felsic volcanics to the end of hole.

1958 Bidcop Mines Ltd (GM 08795) Three holes are drilled on the actual property. The first two holes (no 1141 and 1142) were drilled on the west side of Wabassi Lake, on the same vertical NS section and across a weak electromagnetic conductor. The third hole (no 1143) was drilled on the east side of Lake Maclvor and across a weak electromagnetic conductor.

Sigeom hole 1141 (Original hole no 1) was drilled to a depth of 153 metres on south azimuth and a 55° inclination. The hole intersected andesite and rhylolite.

Sigeom hole 1142 (Original hole no 2) was drilled above hole 1 to a depth of 91 metres on south azimuth and a 55° inclination. The hole intersected rhylolite with minor quartz veining.

Sigeom hole 1143 (Original hole no 3) was drilled to a depth of 61 metres on south azimuth and a 50° inclination. The hole intersected andesite.

15 1959 Maclvor Syndicate Reg (GM 09211) One hole is drilled on the actual property.

Sigeom hole 1172 (Original hole no 1) was drilled to a depth of 153 metres on south azimuth and a 45° inclination. The hole intersected andesite and diorite.

1961 Hydra Exploration Ltd (GM 10122A and B) Four holes are drilled on the actual property at about 1 000 metres NW from New Hosco Mines. The first two holes (no 1132 and 1133) were drilled on the same vertical NS section but and across a weak magnetic zone. The two others were drilled NW from the first two.

Sigeom hole 1132 (Original hole no 2) was drilled to a depth of 119 metres on south azimuth and a 50° inclination. The hole intersected pillowed and amygdaloidal dacite, and fragmented rhyolite.

Sigeom hole 1133 (Original hole no 3) was drilled to a depth of 121 metres on north azimuth and a 50° inclination, south of hole no 2 and toward it. The hole intersected pillowed, amygdaloidal and fragmented dacite, and minor lamprophyre dykes.

Sigeom hole 1134 (Original hole no 4) was drilled to a depth of 122 metres on south azimuth and a 50° inclination. The hole intersected massive and pillowed dacite.

Sigeom hole 1135 (Original hole no 5) was drilled to a depth of 143 metres on NW azimuth and a 49° inclination. The hole intersected pillowed and fragmented dacite with a few lapilli tuf units.

1962 Desruisseaux claims & Noranda Exp (GM 12060) One hole is drilled on the actual property.

Sigeom hole 1404 (Original hole no PD-2) was drilled to a depth of 165 metres on north azimuth and a 45° inclination. The hole intersected pillowed and amygdaloidal trachyte (?) with some intermediate intrusives.

1962 Philipon Walsh (GM 13286) One hole is drilled on the actual property.

Sigeom hole 1402 (Original hole no PD-3) was drilled to a depth of 165 metres on north azimuth and a 50° inclination. The hole intersected pillowed trachyte with trace of pyrite and malachite, and porphyritic syenite.

1963 Noranda Exp. (GM 13696) One hole is drilled on the actual property.

16 Sigeom hole 818 (Original hole no Mc-3) was drilled to a depth of 114 metres on south azimuth and a 50° inclination. The hole intersected amygdaloidal and pillowed intermediate volcanic rocks with epidote and trace of sulfides.

1961 Lake Mctvor Mines Ltd (GM 14584) Eight holes are drilled on the actual property at about 2 000 metres WNW from New Hosco Mines. All holes but one (no 1386) were drilled on the same vertical NS section. They intersected pillowed and amygdaloidal trachyte mostly. Hole no 1386 was drilled 1 200 metres west of the others.

Sigeom hole 1385 (Original hole no 13) was drilled to a depth of 460 metres on north azimuth and an 80° inclination. The hole intersected pillowed and amygdaloidal trachyte mostly with minor epidote and quartz veining; from 103 to 227 metres.

Sigeom hole 1386 (Original hole no 6) was drilled to a depth of 157 metres on south azimuth and a 55° inclination. The hole intersected pillowed and amygdaloidal trachyte mostly with minor epidote and quartz veining

Sigeom hole 1387 (Original hole no 7) was drilled to a depth of 152 metres on north azimuth and a 45° inclination. The hole intersected pillowed and amygdaloidal trachyte to 79 metres, then a fault zone in the bottom section.

Sigeom hole 1388 (Original hole no 8) was drilled to a depth of 139 metres on north azimuth and a 55° inclination. The hole intersected pillowed and amygdaloidal trachyte and gabbro in the end section.

Sigeom hole 1389 (Original hole no 9) was drilled to a depth of 137 metres on south azimuth and a 55° inclination. The hole intersected trachyte with minor dacite. The rock shows weak shearing with minor amount of pyrite and pyrrhotite.

Sigeom hole 1390 (Original hole no 10) was drilled to a depth of 147 metres on north azimuth and a 55° inclination. The hole intersected spherulitic dacite and andesite. Minor amount of pyrite and diorite.

Sigeom hole 1391 (Original hole no 11) was drilled to a depth of 148 metres on south azimuth and a 55° inclination. The hole intersected amygdaloidal trachyte with minor amount of cherty tuf, trace of pyrite and weakly chloritic zones.

Sigeom hole 1392 (Original hole no 12) was drilled to a depth of 145 metres on south azimuth and a 55° inclination. The hole intersected pillowed, amygdaloidal and spherulitic trachyte with minor diorite dykes.

1964 Trinity Chibougamau Mines Ltd (GM 15951) Three holes are drilled on the actual property north and northeast of Lake Wabessi.

17 Sigeom hole 261 (Original hole no 3) was drilled to a depth of 91 metres on north azimuth and a 45° inclination. The hole intersected lapilli dacitic tuf with minor silicified, pyritic and carbonatized sections.

Sigeom hole 262 (Original hole no 4) was drilled to a depth of 92 metres on north azimuth and a 45° inclination. The hole intersected feldspar porphyritic dacite mostly.

Sigeom hole 263 (Original hole no 5) was drilled to a depth of 91 metres on north azimuth and a 45° inclination. The hole intersected porphyritic dacite with minor sections showing pyrite-pyrrhotite, quartz veining and carbonate.

1966 Matagami Lake Mines Ltd (GM 19335) Two holes are drilled on the actual property west of Lake Wabassee.

Sigeom hole 241 (Original hole no WM-1) was drilled to a depth of 228 metres on north azimuth and a 65° inclination. The hole intersected vesicular dacite.

Sigeom hole 242 (Original hole no WM-2) was drilled to a depth of 336 metres on north azimuth and a 70° inclination. The hole intersected chloritic dacite with minor quartz veining.

1966 Tagami Mines Ltd (GM 20631) Three holes are drilled on the actual property, on the southeast shore of Lake Wabassi.

Sigeom hole 229 (Original hole no 1) was drilled to a depth of 176 metres on north azimuth and a 45° inclination. The hole intersected interlayering dacite, andesite and undifferentiated fragmented felsic volcanics. The last 90 metres show rhyodacite and undifferentiated felsic volcanics with trace of pyrite and minor diorite dykes.

Sigeom hole 230 (Original hole no 2) was drilled to a depth of 155 metres on north azimuth and a 45° inclination. The hole intersected to 61 metres rhyodacite with trace of pyrite and chalcopyrite; to 116 metres dacite with epidote; and to the end of the hole, undifferentiated felsic volcanic with minor chloritic and carbonatised sections.

Sigeom hole 231 (Original hole no 3) was drilled to a depth of 287 metres on southwest azimuth and a 55° inclination. The hole intersected to 99 metres dacite with minor amount of quartz veining and trace of sulfides, undifferentiated felsic volcanics with minor amount of chalcopyrite and pyrite, and quartz veining; to 163 metres vesicular andesite with minor chloritic and carbonatised zones and undifferentiated felsic volcanics; to 287 rhyolite to dacite with minor chalcopyrite and pyrite.

1986 MRNQ (MB-32) The property was mapped in detail by Quebec provincial geologists (Beaudry C., Gaucher E.). It is available with geological report MB 86-32 on map 32F13 SW at the scale of 1: 20 000. Eleven rock samples were analysed for major and minor elements,

18 5 REGIONAL GEOLOGY

5.1 GENERAL The Matagami Mining Camp is located in the northern part of the Abitibi Greenstone Belt of the Abitibi Sub-province.

The most outstanding geological feature of the area is the Bell River Complex. It consists of a large layered mafic intrusion of oval shape measuring 70 km EW by 15 km NS. The complex is truncated locally but mostly in its eastern part by the Olga Pluton, a large granodiorite intrusion.

The Bell River Complex is at the core of a large anticline structure, the Galinée Anticline, with a steep vertical axis plan striking WNW to EW. The Galinée Anticline plunges gently toward the west.

The western part of the Bell River Complex, for over a distance of 20 km on both side of the Complex, is surmounted by a thick volcanic pile. Rocks consist from bottom to top, of rhyolitic volcanics of the Watson Group and basaltic lavas of the Wabassee Group. The contact between the two volcanic groups is marked by a few centimetres to several meters thick exhalative and pyroclastic unit named Key Tuffite. All volcanogenic massive sulfide deposits (VMS) discovered to date occur along its contact (Figures 4 and 5).

Volcanic rocks forming the north flank of the Galinée Anticline have an EW direction with a sub-vertical dip. They are strongly deformed by a series of anastomosed faults within a five kilometre-wide by more than forty kilometre-long structure named Garon Lake Deformation Zone (GLDZ). All North Flank sulfide deposits are within this corridor.

Rocks forming the south flank of the anticline are relatively not deformed. They strike NW with a dip of 45° to the southwest.

VMS sulfide deposits of Matagami Mining Camp are classed upon their respective location in relation to the Galinée Anticline axis. Deposits of the South Flank are poorly deformed and well preserved. They include the major deposits Bell Allard, Orchan, Matagami Lake and Isle-Dieu. Deposits of the North Flank are strongly deformed. The major deposits are the Radiore no 2, Lac Garon no 2, Lac Garon, Norita and Norita East

Deposits of the South Flank constitute 83% of total production and reserves of the Camp which accounts for 44 Mt of ore at a grade of 8,77% Zn, 0,89% Cu, 28,47 g/t Ag and 0,47 g/t Au (Table 3).

19 5.2 ROCK UNITS

5.2.1 GENERAL The volcanic stratigraphy of the Matagami Mining Camp was first proposed by Sharpe (1968). It included the Watson and Wabassee Groups. The Bell River Complex cuts the base of the Watson Group on both flank of the Galinée Anticline. MacGeehan (1979) and MacLean (1984) mentioned that stratigraphy of both groups differs from on flank to the other. Piché (1991) believes that they are similar.

5.2.2 LAC WATSON GROUP This group is better observed on the South Flank where outcrops are more numerous than on the North Flank. Lake Watson Group has a thickness of 2 000 metres (Piché, 1991). It is subdivided in three major units. From bottom to top:

Unit 1: Dacite Flows (Lowermost Unit) It consists of a 500 metres-thick dacite flows. The individual flows are several metres thick. The rock is amygdaloidal, fine grained with polygonal joints. Hyaloclastic breccias seldom mark the inter-flows. This unit was affected by a major regional alteration consisting of lixiviation of calcium and sodium, and by an enrichment of silica, iron and magnesium (Sharpe 1968; internal reports of Norex 1984).

Unit 2: Quartz-Plagioclase Porphyritic Rhyodacite This unit is 1 500 metres thick. It consists of a quartz and plagioclase porphyritic rhyodacite. Internal breccia is widespread within the lower two-third of the unit. The upper part consist of 30 to 100 metres wide flow units separated by hyaloclastic breccia usually less than one metre in thickness.

Unit 3: Key Tuffite (Uppermost Unit) This unit is the Tuffite Clef (Key Tuffite) along which all South Flank sulfide deposits are located. The Tuffite Clef has an average thickness of 2 metres and is remarkably continuous on the South Flank. It consists of felsic and mafic ash tufs, rich silica layers and sulfides (Davidson 1977). Its increase in thickness and sulfide contents was considered as an indication of the proximity of a sulfide deposit (Clark 1983, and Tanguay et al., 1990). However, recent studies (Piché 1991; Lavallières 1995) show that sulfide deposits cross the Tuffite Clef.

5.2.3 WABASSEE GROUP Overlying the Watson Group and interfingered with it, basaltic rocks of the Wabassee Group are subdivided in two Units: Bell River on the North Flank, and Allard River on both flanks. Both units have the same age but show distinctive colour and chemical composition (Beaudry C., Gaucher E., 1986).

20 Rivière Bell Unit: This unit occurs only on the north flank of the Galinée Anticline. Rock consists of a dark green tholeiitic massive, pillowed and brechiated basalt.

Tuffite beds occur sporadically. Sulfides are often associated with it.

Rivière Allard Unit: This unit occurs on both flanks of the Galinée Anticline. Rock consists of a light green calco-alkaline basalt overlying the Watson Group.

5.2.4 BELL RIVER COMPLEX This Complex is a large, layered intrusion of Archean age of 750 square kilometres. The complex covers an area 70 km long in the EW direction by 15 km wide in the NS direction. It is at the core of the Galinée Anticline. It has been divided into three main zones (Sharpe, 1968; Beaudry and Gaucher, 1986; Taner, Ercit and Gault, 2000).

Zone 1(Main Zone - Basal Anorthosite Zone): This zone constitutes the central and the lowermost or basal zone. Its thickness is unknown. The zone consists of coarse grained, poorly layered gabbro-anorthosite- ferropyroxenite with locally developed pegmatitic facies and containing significant quantities of granitic rock in dykes or as xenoliths.

Zone 2 (Layered Gabbro Zone): The layered gabbro zone consists of layered Fe-Ti-oxide-rich gabbro mostly. The zone is 2 000 metres thick. Layers consist of alternating anorthositic gabbro, amphibolitized pyroxenite and rich magnetite pegmatitic gabbro.

Zone 3 (Border Zone — Upper Granophyre Zone): The widespread granophyre zone at the top of the complex contains quartz gabbro, diorite, granophyre and anorthositic gabbro. This zone is 300 to 1 000 metres thick.

Apophyses: Apophyses and sub-concordant dykes of great extensions cut rocks of Watson and Wabassee Groups. It is believed that those dykes served as conduits for the extrusion of the Wabassee basalts (Sharpe 1968; MacGeehan 1979; Beauddry and Gaucher 1986).

5.3 STRUCTURE

5.3.1 GENERAL Three major structures, in the following order of importance, affected rocks of the Matagami Mining Camp. Those structures are the Galinée Anticline, the Lac Garon Deformation Zone and the Daniel Fault.

21 The Daniel Fault was first mentioned in a thesis (Piché 1991). Not much documentation is published. The fault is not mentioned or discussed in a later thesis (Lavallières 1995).

5.3.2 GALINÉE ANTICLINE Rock formations are folded regionally in a broad anticline called the "Galinée Anticline". Rocks of the South Flank are slightly deformed. They strike NW and dip 45° to the southwest. On the opposite, rocks of the North Flank are strongly deformed. They strike EW and dip almost vertically.

Rocks outcropping in the western end of the fold show a nearly horizontal dip. The fold axis gently plunges to the west at 30° (Beaudry and Gaucher, 1986).

5.3.3 LAC GARON FAULT ZONE (ZDLG) This fault is traced strike WNW and is traced over a strike length of 40 km (Piché 1991). In the Matagami Mining Camp, the fault is 5 km wide (Figure 5).

Enclosing rocks are affected by networks of anastomosed faults resulting in scale shape block controlled by NW striking faults, and with block dimensions averaging 2 km-wide by 10 km-long (Piché 1991).

Lac Garon Fault Zone affected all sulfide deposits occurring on the North Flank.

5.3.4 DANIEL FAULT This fault is briefly mentioned as a major structure in Piché (1991) thesis but not elaborated. It presence is postulated by Noranda geologists from drill hole studies (Piché — personnel communication, and Duquette A., former Noranda senior geologist - personnel communication).

Daniel Fault would strike NW and dip at 50° to the northeast. In the environment of the New Hosco deposit, the fault would have move the eastern block upward to about 1 000 metres (Piché 1991).

The fault would explain the structural and stratigraphic difference between the eastern and western block. In the environment of New Hosco deposit, rocks east of the fault strike EW and have a steep dip to the north. West of the fault, Wabassee basalts are almost horizontal. There is very little deformation and alteration compared to the east side of the fault.

22 However, this difference is explained by other scenarios. Beaudry (1991) demonstrated that the difference is only a result of the fold. West of the Wabassee / Watson Lake contacts, along the fold axis, Wabassee basalts are almost horizontal as one would expect. There is no effect of the Garon Lake Deformation Zone as this zone is restricted to the North Flank.

Although Daniel fault is not publicly documented or indicated on any map, except on a small sketch map in Piché thesis (1991), its occurrence is inferred on airborne magnetic maps (Figure 5). It is more apparent on the vertical gradient map where there is a definite "break" on the magnetic map (DV 85-18 - feuillet 2/3). Daniel Fault is less obvious on another vertical gradient map (DV 90-29 - feuillet 2/2) which is a revised version of DV 85-18.

5.3.5 EW FAULTS EW to WNW "breaks" are also apparent on both above version of airborne vertical gradient maps (DV 85-18 - feuillet 2/3, and DV 90-29 - feuillet 2/2). Those breaks are possibly EW faults that may have been actived during synvolcanic to syntectonic events.

Several EW faults are inferred on Figure 5. They are clearly apparent when superpose on both above aeromagnetic maps. High magnetic zones are displaced along the trace of those faults.

Northernmost F-1 fault is geologically proposed by Piché (1991) as some other EW faults.

F-2 fault constitutes the northern boundary of the North Flank's Watson Lake rhyolite (Figure 5). Strong structural deformation is documented along F-2 (Piché, 1991). This fault would correspond to strongest fault forming Garon Lake Deformation Zone.

F-3 fault constitutes the southern boundary of the North Flank's Watson Lake rhyolite. All North Flank rhyolite lozenges are bounded between F-2 and F-3.

F-1, F-2 and F-3 show weak expressions west of the Galinée Anticline's nose.

6 PROPERTY GEOLOGY AND MINERALISATION

6.1 GENERAL There are numerous outcrops on the property. They were mapped in great detail by the MRNQ and published in MB 86-32 (Beaudry and Gaucher, 1986). Beaudry and Gaucher show that the Galinée Anticline crosses the property in a WSW direction (Figure 6). There is no evidence of any such fault as the Daniel Fault on the property or east of it.

23 6.2 ROCK TYPES According to Beaudry and Gaucher (1986), the property is underlain by basalt and andesite of Allard River sub-group of the Wabassee Group.

Under microscope, rock subdivision is based on their phenocryst content: basalts (3% pyroxene phenocrysts and 1-3% 2 mm long plagioclases), andesite-dacite (3-7% plagioclases) and rhyolite (5-10% quartz and 3-5% albite 1-2 mm long in a very fine grained quartz and albite groundmass. Although it occurs in Allard River sub-unit, rhyolite was not found in outcrop in the property.

However, a few holes drilled on the property report undifferentiated felsic volcanic rocks in drill logs. Those rocks though were named dacite, rarely rhyolite, in most logs. As mentioned before, those encountered felsic rocks might have been misnamed especially when close-by and surrounding outcrops are massive or pillowed andesite, or basalt.

6.2.1 Basalt A 2 000 metre-wide zone, composed of alternate bands of light green massive and pillowed basalt sometimes amygdaloïdal, porphyric and brecchiated, constitutes the core of the Galinée Anticline traced on the property (Figure 6).

Individual bands range from 100 to 150 metres. One individual pillowed and amygdaloïdal bands is traced for more that 5,5 km. Amygdules are more widespread in pillowed and brecciated members than in massive ones. There is no spatial distribution of the amygdules, or in their size and dimension.

Primary textures are well preserved. Rocks are weakly deformed and poorly metamorphosed to the prehnite-pumpellyite fades.

6.2.2 Andesite The overlying andesite shows similar primary texture and characteristics as the underlying basalt. The andesite is light green massive and pillowed, sometimes amygdaloïdal, porphyric and brecchiated.

Individual bands range from 50 to 75 metres. Primary textures are also well preserved. Rocks are weakly deformed and poorly metamorphosed to the prehnite-pumpellyite faci es.

6.2.3 Diorite A mafic dyke is inferred from airborne magnetic survey in the extreme northern part of the property (Figures 4 and 6).

24 The dyke crosses the property in an EW direction. Although, no outcrop is reported, one hole (no 1149 — Figure 6) was drilled across it. No diorite was intersected but diabase over 13 metres.

6.2.4 Diabase dyke Such a dyke is indicated by magnetic survey in the north part of the property. Outside the property, outcropping diabase is black and massive. The rock is composed of 2 to 4 mm wide plagioclase in a pyroxene, magnetite and quartz groundmass.

On the property, the width of the dyke is estimated at 75 metres. It is traced over distance of 5 km in an east to NE direction.

6.3 STRUCTURE

6.3.1 Galinée Anticline The Galinée Anticline axis crosses the property in the lower third of the property (Figures 6 and 7). Its axis shows a WSW direction. The core of the anticline on both side of the anticline axis is composed of basalt over a NW apparent horizontal width of 2 200 metres. Andesite is found on both side of the fold and the basalt.

Top determination and, strike (SO plan) and dip were determined from the numerous well-formed pillow andesite and basalt. From the numerous outcrops observed, dip of the volcanics is very shallow to flat especially in the environment of the nose of the anticline (Figure 6). The later would plunge at a very shallow angle to the west (Beaudry C., and Gaucher E., 1986).

The prominent S1 schistosity is the result of the Galinée Anticline. In the property, S1 strike generally EW and is nearly vertical.

Three weak shear zones striking ENE, NNW and NNE were observed on outcrops in the SW corner of the property.

6.3.2 Daniel Fault There is no surface indication of this fault on the property. Its presence can only be inferred from airborne aeromagnetic maps. The fault would strike NW and dip 50° to the NE (Figures 5 and 7).

The fault was never suspected by previous worker such as Sharpe (1968), and Baudry and Gaucher (1986). It occurrence is reported by Noranda Exploration geologists and mentioned in Piché thesis (1991) sponsered by Noranda.

25 6.3.3 EW Faults There is no surface indication of such faults on the property. They are however suggested from from airborne aeromagnetic maps.

Three such faults (F-1, F-2 and F-3) are inferred. F-2 and F-3 may have been crossed by previous drill holes as quartz, carbonate and chlorite are reported in those holes. (Figure 7).

6.4 LITHOGEOCHEMISTRY Beaudry and Gaucher work includes numerous rock geochemical analysis (MB 86-32). Analysis were done for major elements including Nb and Zr, and for trace elements. Their work is very informative and could be used as standard for further analysis.

A total of 10 samples were collected on the property and analysed. Results confirm the nature of the Wabassee volcanic rocks.

7 MINERALISATION

7.1 REGIONAL VMS DEPOSITS Matagami area is well known for the occurrence of volcanogenic massive sulfide (VMS) deposits. Deposits were discovered on both flank of the Matagami anticline.

7.1.1 SOUTH FLANK VMS Four major massive sulfide deposits occur along the south flank of the Galinée Anticline. From south to north, these are the Bell-Allard (3,2 Mt), Orchan (4,5 Mt), Matagami Lake (25,6 Mt) and Isle-Dieu (3,05 Mt). There are also many small orebodies related to each of the above major deposits, which were mined from respective mining developments (Figure 4).

Early this year, Noranda Exploration Inc announced the discovery of three other small massive sulfide lenses (Perseverance, Perseverance and Equinox) located just north of Matagami airport, at about 7 km NW from Matagami Lake deposit.

All those deposits are located at the top of the Watson Group unit, along the Key Tuffite and synvolcanic structures. The most obvious synvolcanic structures strike 290° (Piché 1991; Lavallière 1995).

26 Morphology of the ore deposits Each deposit shows similarities. From top to bottom, a concordant member "Mound Zone" composed of layered massive sulfides followed downward by a discordant zone of massive to stringer type sulfides, talc and magnetite in various proportion. Deposits can be compared to a mushroom where the head is the concordant zone and the stem the discordant or the chimney zone.

The concordant member is capped, like in a nutshell, by volcanogenic exhalative sediments called the Key Tuffite. The sulfides are concordant to and occur at the top of the Watson Lake rhyolite, and at its contact with Wabassee basalt.

The discordant member occurs in chimneys along EW and NS synvolcanic structures developed in the Watson Lake rhyolite. Those structures are clearly indicated by Lavallières (1995).

Sulfide content: The average sulfide content of 36 samples selected in massive sulfides of the mound zone by in Bell Allard, Orchan, Orchan West and Matagami Lake mines varies from 65 to 94%. Zinc values range from 15,9 to 51,9% Zn and copper 0,03 to 4,36% Cu (Lavallières 1995).

At Isle-Dieu deposit, the mound zone consists of sulfides (78%), oxydes (3%) and others non-sulfides. Mound sulfides consist of sphalerite (57%), pyrite (9%), chalcopyrite (5%), magnetite (3%), galena (1%), other sulfides (1%; marcasite, arsenopyrite and tetrahedrite) and other non-sulfides (quartz, carbonate, chlorite, stilpnomelane and talc). Average zinc and copper values are 32% Zn and 1% Cu respectively (Lavallières 1995).

The discordant zone consists of one or more chimney types waving along synvolcanic structures. The chimneys form the root of the concordant zone.

At Isle-Dieu deposit, chimneys strike 280° and dip 80°north. Three types of chimneys occur: sulfides, magnetite and talc chimney, and two sub-types: massive (>60% of the major constituent) and stringer types (<60%).

Some chimneys stop at the base of the mound zone. Other progressed to its top suggesting a contemporaneous development with the mound (Lavallières 1995).

Key Tuffite: The Key Tuffite is well documented in Isle-Dieu deposit (Lavallières 1995). In this environment, the Key Tuffite comprises two sub-units: the Lower Tuffite located under the mound at its contact with rhyolitic lavas of the lowermost Watson Group, and the Upper Tuffite topping it and marking the contact between the mound and basaltic lavas of the uppermost Wabassee Group.

Principal constituents of the Key Tuffite are rich chlorite and sericite ashes and exhalative sediments. The later sediments are composed of chert, sulfides and

27 carbonate. Its thickness varies from 0,3 m to 6 m with average metallic content of 1,4% Zn, 0,1% Cu and trace of Pb, Co, Ni and Cr (Lavallières 1995).

The Lower Tuffite is composed of millimetric to centimetric beds of blue-green chert alternating with red chert.

The Upper Tuffite is composed of alternating grey and greenish chert.

Alteration: Strong chloritic alteration is developed along the chimneys. Geochemically, the alteration is a result of silica, sodium, calcium and to a lesser extend potassium depletion, and enrichment in magnesium and iron (Piché 1991). There is no doubt that rock alteration extends outside the ore deposits. Alteration halos would be controlled by rock type and fracturation.

7.1.2 NORTH FLANK VMS Deposits of the North Flank are not well known compared to those of the South Flank. There are many different opinions concerning the processes of formation for deposits of the North Flank. Sharpe (1968) which compiled all active deposits prior to the publication of his work (RG 137) mentioned the differences between North and South Flank deposits. Piché (1991) believed that deposits of both flanks are similar. According to the later, North Flank deposits were similar as those of the South Flank but "complex faulting" changed the original morphology of the deposits, relocated along faults the discordant or stringer zone of some deposits or completely obliterated them.

Deposits of the North Flank are, from east to west: Radiore no 2 (140 000 tons), Lac Garon (467 000 tons), Bell Channel no 1 (82 000 tons), Norita East (1 000 000 tons), Norita (3 721 000 tons) and New Hosco (1 827 000 tons).

Those deposits occur within an EW 5 km-wide corridor called Garon Lake Deformation Zone. All deposits are deformed compared to their counterpart of the South Flank. The discordant zone of some deposit was displaced by faults or is absent (Piché 1991).

7.2 MINERALISATION ADJACENT TO THE PROPERTY Four VMS deposits and one outstanding mineralized zone were discovered within 1 to 6 km in straight line away from the property.

The most outstanding VMS deposit is former producer New Hosco Mines. The deposit is located less than 1,5 km east of the property limit. From 1963 to 1970, New Hosco mined 1,8Mt of ore grading 1,73% Zn, 1,73% Cu and 10,29 g/t Ag.

28 Three others are the newly discovered Noranda Exploration deposits: Perseverance, Perseverance West and Equinox. Those deposits are about 5 km southeast of the property. Combined resources indicated by Noranda are 5Mt grading 16,8% Zn, 1,3% Cu and 34,0 g/t Ag.

The last mineralised zone is located about 1 km NE of the property. It is own by Thunderwood Resources. Copper, zinc, silver and gold were encountered in many holes.

Those occurrences are all described in this chapter as similar mineralisation type might occur on the property.

7.2.1 NEW HOSCO VMS DEPOSIT This deposit is located on the west bank of the Allard River in range IV. The discovery was made in 1958 when New Hosco Mines Ltd drilled a combined electromagnetic and magnetic anomaly. In 1963, after extensive surface drilling, a shaft was sunk to 330 metres. Production started that year and the ore was milled at Orchan Mines property.

Rock Types The deposit is confined within a 140 metre-wide thick by 350 metre-long lens of pyroclastic. This rock (host unit) consists of grey to green, massive and bedded tufs ranging in texture from shaly rocks to lapilli tuf. Siliceous shards and fragments are observed near the deposit. This unit is extremely altered in manganiferous ferro- dolomite, chlorite and silica. The upper and lower part of the unit are interbedded with layers of laminated cherty tuffite (Sharpe 1968 — RG 137).

The host unit is believed to be the North Flank stratigraphic equivalent of the porphyritic rhyodacite located at the top of the Watson Lake Group (Piché 1991).

The host unit is overlain to the north by massive, porphyritic and variolitic andesite lavas which underlie a thick assemblage of pillowed andesite lavas. Intrusions in the vicinity of the deposit are sills and dykes of gabbro mostly.

Structure: Volcanic rocks strike 80° and dip and face north. West of the deposit, the dip flattens and the strike swings southward. The assumed position of the Galinée Anticline is about 1 000 metres south of the deposit.

Schist zones, fractures and breccia indicate that faults have disrupted the volcanics and intrusive rocs in the vicinity of the ore deposit.

29 Important transverse faults are indicated on company plans (Sharpe 1968). The main dislocations are interpreted to be anastomozing faults which trend northwest, truncate the east end of the deposit and offset gabbro intrusions.

Ore Zone: The mineralised zone is confined to the pyroclastic unit which strike 80° and dip and face north. The mineralised zone is 65 meters wide by 330 metres long and was mined to a vertical depth of 350 metres.

The deposits occurs as several ore lenses that follow a west-plunging zone. The sulfides are distinctively zoned as to quantity and quality. The ore consists of heterogeneous mixtures of sphalerite, chalcopyrite, iron sulfides and non-metallic minerals. Sphalerite is enriched along the north flank of the deposit and scarce in the interior copper zones. Magnetite is enriched in the footwall of the ore zones.

The host rock is altered near the ore mainly by chloritisation, silicification and carbonatisation (Sharpe 1968).

At its closure, the mine had produced 1,8Mt of ore grading 1,73% Zn, 1,73% Cu and 10,29% Zn.

7.2.2 PERSEVERANCE, PERSEVERANCE WEST AND EQUINOX VMS DEPOSITS In a recent press release (Noranda, Oct 30, 2000), Noranda announced that combined indicated and inferred resources from those three massive sulfide deposits is 5Mt grading 16,8% Zn, 1,3% Cu, 34,0 g/t Ag and 0,4 gît Au.

In his statement, M.J. Knuckey executive vp exploration declared that "the deposit is high grade, with low capital requirements, near surface and existing infrastructures with an experienced work force". He added that Noranda was well positioned to generate value to its shareholders.

Six drill rigs are still drilling on the deposits. The three massive sulfide lenses are all within 500 metres from each other, with little overburden, close to a paved highway and in front of Matagami airport.

The following observations are deducted from few and general published drill sections available on Noranda Internet site.

Perseverance Zone: Tuffite separates the upper rhyolite from the Lake Watson rhyolite. The tuffite roughly strikes EW and dip 30° to the NE. The two massive sulfide lenses indicated on sections would belong to the discordant zone. The most important one dips steeply to the south. Magnetite constitutes the inner part of massive sulfides on section 302000E. Their best hole (PER-00-2) on that section reported 15,47% Zn, 1,56% Cu across 66,65 metres.

30 It appears that a 50 metre-wide tonalite dyke cut the mineralised zone. Faulting might control the location of tonalite dykes.

Perseverance West Zone: The zone strike roughly EW with a flat dip to slightly dipping to the south. Ther too, the massive sulfide zone is enclosed in the alteration pipe of the discordant zone, Altered rhyolite is indicated in the environment of the sulfide zone. Numerous vertical faults are indicated on the sections.

Equinox Zone: Massive and semi-massive sulfides are enclosed within a steeply dipping alteration pipe. Faulting is indicated on sections.

General Observations: The mound or layered massive and concordant sulfides zones would be absent in all three deposits. The massive and semi-massive sulfide zones of the discordant zone related to alteration pipes would constitute however the bulk of the mineralisation.

The geological environment of those deposits seems structurally more disturbed compared to the southernmost Isle-Dieu, Matagami Lake, Orchan and Bell Allard deposits.

7.2.3 THUNDERWOOD MINERALIZED ZONE Two thin felsic to intermediate volcanic members traced by drilling for up to 1 500 metres contains base metals and gold mineralisation. Those members are a sub-unit of the Bell Allard Unit belonging to the Wabassee Group.

This sub-unit is described locally as felsic to intermediate crystal to lapilli tufs with interlayered pyrite and chert rich beds. Rocks strike WNW and dip steeply to the NE.

Rocks hosting the mineralisation is described as felsic to intermediate, locally sericitised, chloritised and silicified with variable amount of pyrite, pyrrhotite, chalcopyrite and sphalerite. Mineralisation was encountered within a zone of 2 to 10 metre-wide by 100 metre-long.

A total of 46 holes were drilled in 1959 by Daniel Mining Ltd (GM 08790) and more recently in 1987 by Thunderwood (GM 48216).

Some of the best results of Daniel Mining were: Hole 1406: 1,5% Zn, 9,2% Cu and 49,4 glt Ag across 4,9 metres. Hole 1419: 2,0% Cu, 35 g/t Ag, 1,7 g/t Au across 1,5 metres

Although the values are sub-economic, it indicate that base metals and gold mineralisation occur away from the Watson Group.

31 7.3 MINERALISATION ON THE PROPERTY No surface showing or mineralisation is reported on the property.

However, low content sulfide mineralisation associated with quartz and carbonate veins with rare presence of reported chlorite is mentioned in previous drill logs. This mineralisation usually occurs across narrow widths within rarely felsic to mostly intermediate-mafic volcanic rocks.

No assay is reported from previous logs.

8 CONCLUSIONS AND EXPLORATION POTENTIAL Favourable geological features: The property is crossed by or occurs near important geological features which control regional VMS mineralisation and deposits.

The Galinée Anticline is responsible for the flat lying and relatively unaltered Wabassee Group basalt overlying the property area. The fold axial plan crosses the property in an EW direction. Its axial plan is presumed vertical.

The Wabassee / Watson Lake geological contact, along which all known VMS deposits occur, is located along the fold axial trace, at about 2,000 metres east of the property. This area constitutes the Apex Zone and coincides with the fold's nose.

The Galinée anticline axis is believed to plunge at 30° toward the west. If so, the Wabassee - Watson Lake Group geological would cross the eastern property boundary at a depth of 1,000 metres.

The presumed NNW trending Daniel Fault crosses the property in its eastern area. The plan of the fault is thought vertical with a vertical downward displacement of its western block of several hundred metres to one kilometre. This fault and its characteristics is however somewhat speculative as it is not documented but reported by Noranda exploration geologists.

Three regional EW vertical faults cross the property in an EW direction. The two northernmost one (F1 and F2) define an area of strong structural deformation and alteration called the Garon Lake Deformation Zone (GLDZ). All VMS deposits of the north flank of the Galinée Anticline (including close-by New Base deposit) are closely associated with the fault F-2.

Mineralisation and ore deposits: The exploration potential of the property is considered excellent. The property is located less than 1,500 metres west of former New Hosco VMS deposit which produced 1,8Mt at a grade of 1,73%Zn, 1,73% Cu and 10,3 g/t Ag.

32 The property is also 5 km NW from Noranda new discoveries where 5Mt of massive sulfides is drill-indicated at a grade of 16,8% Zn, 1,3% Cu and 34 g/t Ag. Those discoveries occur along the South Flank and along the Wabassee/ Watson Lake contact.

The property is also again 1 km SW of base metals and gold mineralisation reported on Thunderwood property. Mineralisation occurs in a 2-10 metre-wide by 100 metre-long zone. Hosting rocks is described as felsic to intermediate volcanics. One of the best drill results was in hole 1406. A 4,9 metre section returned 1,5% Zn, 9,2% Cu and 49,4 g/t Ag.

Overall exploration potential: Caribgold property is situated in a complex structural and rock types environment. It is crossed by the Galinée Anticline axial plan and by major NNW (Daniel Fault) and EW (F- 1, F-2 and F-3) faults. Fault F-2 is part of the Lake Garon Deformation Zone along which all north Flank VMS deposits occur.

The property exploration potential for the occurrence of VMS mineralisation is rated positively. The interaction of above major structural features may have created a geological setting favourable for the formation of a VMS deposit.

Proposed Exploration Work: Proposed work is oriented toward the discovery of near surface disseminated and stringer-types sulfide mineralisation. Such mineralisation would be closely associated with alteration pipe related to a deeper VMS deposit.

The induced polarisation geophysical method is best one to detect such type of mineralisation. It is thus proposed to carry such a survey over the property.

Discussion: The conjugation of Wabassee / Watson Lake groups geological contact, major geological structures and former VMS New Hosco deposit at less than 1,5 km east of the property are all factors promoting the exploration potential of Caribgold's Allard River property.

Geological mapping indicates that the property is covered by relatively unaltered and undeformed andesite and basalt of the Wabassee Group. Those rocks overly the top of the Watson Lake rhyolite where all VMS deposits were discovered. The shallow dipping to almost horizontal dips of the volcanic rocks on the property is believed to be related to its position over the hinge area of the Galinée Anticline. It is believed that the VMS favourable Wabassee I Watson Lake contact along the nose of the fold plunge gently toward the west and passed under the property at undetermined depth as its plunging angle is not known. This plunging angle is undoubtedly irregular. It is also possible that if

33 the fold plunges gently to the west, this plunge may swing to horizontal and then to the east bringing the favourable contact closer to actual surface.

This favourable contact along the nose of the fold could also have been moved upward by a conjugation of faults.

The Garon Lake Deformation Zone (GLDZ) along which occurs all North Flank VMS deposit including New Hosco deposit could be much more extended to the west that proposed in current literature. The North Flank is not very known. It is possible that this extension crosses Caribgold property underneath volcanic rocks of the property at unknown depth.

Daniel Fault is believed by Noranda Exploration geologists to cut the nose of the Galinée Anticline in a NNW direction and at a dip of 50° to the NE. This fault is not documented to the public. It is also the subject of debates between geologists. In a simplistic view, this fault would have moved down its western member in relation to its eastern counter part over a distance of 1,000 meters.

As the Daniel Fault is questionable, its importance should be considered with caution. Many geological models and theories believed to be true at some times proven to be wrong at a later time. Its occurrence should however be considered as a working possible hypothesis. If the fault is true, then the exploration potential of the property would be very slim as the favourable contact would be out of reach by surface exploration. If its displacement is much less that believed or if its does not occur at all, then the favourable contact is much more closer to surface.

A recent study in Isle-Dieu deposit (Lavallières, 1995) indicates that alteration and sulfide stringer zones extend for a short distance over the favourable Wabassee / Watson Lake contact within the above Wabassee basalt This statement is considered with great interest as such zones could occur elsewhere in the Camp. Those zones may have been intersected in the past but were never followed-up.

Considering the geological situation of Caribgold property, there is a possibility that complex faulting disrupted its apparent quite surface geology. Proposed exploration methods must be oriented toward the discovery of stringer-type mineralised zones that may extend within Wabassee basalt.

34 9 EXPLORATION PROGRAM AND BUDGET (Revised August 24, 2001)

Exploration work is recommended on the property. The work is oriented toward the discovery of disseminated and stringer-types sulfide mineralisation. This mineralisation could be associated with an alteration pipe related to VMS deposits. Potential areas for VMS would not only be restricted to the Watson I Wabassee Groups interface but also in overlying Wabassee basalt where VMS could be discovered.

Proposed work consists in two phases for a total of 400 000$.

Phase I (150 000$) consists in line cutting and induced polarisation survey across the entire property.

Phase II (250 000$) consists in diamond drilling across IP anomalies and across geological targets. Crone Pulse EM is recommended for all holes greater than 250 metres.

Phase I: 150 000$ Line cutting and Induced Polarisation survey

The objectives of the survey would be oriented toward the indication of disseminated and stringer type sulfide mineralisation. Line to be cut in an north-south direction every 200-metre intervals with pickets every 25 metres. East-west base and tie lines spaced at a 1000-metre interval.

The preferred method is dipole-dipole with a 100-metre electrodes spacing and with a powerful transmitter. A provision for detail work is considered as contingencies.

Line cutting: 135 km at 300$/km 40 500$ Lines: 108 km BL & TL: 27 km

Induced Polarisation Survey: 108 km at 600$/km 64 800$

Direction and supervision 10 000$ Program planification and report Field expenses

Contingencies 34 460$ Provisions for detailed 1P and Mag correlation

Grand Total: 150 000$

35 Phase II 250 000$ Subordinated to the results of Phase I, diamond drill hole are recommended.

Six to seven 250-300-metre long holes are recommended across the best IP anomalies. Two 1000-metre long holes would be directed across geological targets such as the nose of the Galinée Anticline and the westward extension of the GLDZ.

It is strongly recommended to survey all holes with Pulse EM. Sulfide mineralisation within a radius of 150-250 metres from the axis of the hole could be detected with the proposed Crone Pulse EM system.

It is also recommended to search for previous hole casings. Some of these holes could be considered for deepening or/and for Pulse EM survey.

Diamond drilling: 6 holes of 300 metres at 45$/m 81 000$ 2 holes of 1000 metres at 55$/m 110 000$

Crone Pulse EM: 8 holes at 2 500 / hole 20 000$

Direction and supervision 15 000$

Contingencies 24 000$

Grand Total: 250 000$

Jean-Pierre Cloutier April 1, 2001 (Revised August 24, 2001)

36 10 CERTIFICATE OF QUALIFICATION I, the undersigned, Jean-Pierre Cloutier, hereby declare that:

• I am a Canadian citizen residing at 417 Pelissier Street, Rouyn-Noranda, Quebec.

• I am a graduate of University of Montreal (B.Sc. - Geology, 1968).

• I am a regular member in good standing of the Association Professionnelle des Géologues et Géophysiciens du Québec (APGGQ - Member no 925), the Geological Association of Canada (GAC - Member no A6904), the Canadian Institute if Mining and Metallurgy (CIMM - Member no C04531), the Prospectors & Developers Association of Canada (PDAC) and the Prospector Association of Quebec (APQ).

• I have worked continuously in the field of mining exploration since 1968.

• I have worked for major mining and exploration companies with the following titles: • 1974 to 1993: Falconbridge Ltd • 1986 to 1993: Quebec Exploration Manager • 1974 to 1985: Senior Geologist • 1968 to 1974: Sullivan Mining Group • 1970 to 1974: Mine Geologist • 1968 to 1970: Exploration Geologist

• Since 1994, I am a consultant in mining exploration since: • 1994 to present: Géoconseil JP

• I have been involved in various stages of mineral exploration, ore body development and operating mines; as exploration manager to mine geologist.

• I directed and supervised large exploration teams in well-established mining to remote areas. I managed annual budget figures from 2M$ to 10M$

• I have relevant professional expertise in: gold, base metals, nickel and kimberlite exploration; property evaluation; project direction and supervision; office administration. This expertise was gained principally through my work in Canada mostly.

37 I, the undersigned, Jean-Pierre Cloutier, hereby declare that:

• I personally wrote the following report:

Caribgold Resources Inc — Allard River Property Daniel township, Qc (NTS 32F13)

Technical Report April 01, 2001 (Revised August 24, 2001)

• I personally examined all available public and private reports from government files.

• I accept express responsibility for the conclusions and recommendations contained therein in this qualification report. Its content is consistent with my professional experience and with all available data consulted.

• I have no direct or indirect interest in the property.

• It is my professional opinion that the Allard River Property should be considered one of potential merit and that further exploration work is warranted.

• I have not inspected the property but I declare to be familiar with the general area.

Jean-Pierre Cloutier Rouyn-Noranda, Qc. April 01, 2001 (Revised August 24, 2001)

38 11 REFERENCES

Beaudry C., et Gaucher E., 1986 Cartographie géologique dans la region de Matagami. Ministère des Ressources Naturelles du Québec, Manuscrit brut MB 86-32, 147p.

Black, J.M., 1942 The Bell River Complex. Ph.D. Thesis, McGill University, Montreal, Quebec, Canada, 174p.

Clark R.J., 1983 The geology and trace element distributions of the sulfide bodies at Orchan Mine, Matagami, Quebec. Ph.D. Thesis, Colorado Scholl of Mine, Golden, Colorado, USA., 450 p.

Davidson , A.J., 1977 Petrology and chemistry of the Key Tuffite at Bell Allard, Matagami, Quebec. Master Thesis, McGill University, Montreal, Quebec, Canada, 131 p.

Freeman, B.C., 1939 The Bell River Complex, Northwestern-Quebec Journal of Geology, p. 27-46

Lavallière G., 1995 Processus de formation et implication pour l'exploration des cheminée Atypiques des gisements volcanogènes de Matagami, Québec. Ph. D. Thesis - Université du Québec à Chicoutimi, Québec, Canada, 447 p.

MacGeehan, P.J., 1979 The petrology and geochemistry of volcanic rocks at Matagami, Quebec, and their Relationship to massive sulfide mineralisation. Ph.D. Thesis, McGill University, Montreal, Quebec, Canada, 414 p.

MacGeehan, P.J., MacLean, W.H. and Bonenfant, A., 1981 Exploration significance of the emplacement and genesis of massive sulfide in the Main zone at Norita Mine, Matagami, Quebec. CIMM, No. 828, p.59-75.

Piché M., 1991 Synthèse géologique et métallogénique du camp minier de Matagami, Québec. Ph.D. Thesis - Université du Québec à Chicoutimi, Québec, Canada, 249 p.

Sharpe, J.I., 1968 Geology and sulfide deposits of the Matagami area, Quebec Department of Natural Resources, Geological Report no 137, 122 p.

39

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Allard River Property

Radiore Ouest Norita Est Matagami ■ Lac Garen No 2 A -l;na ~ Noranda Exploration: a4p~`e Radiore No 2 Équinoxe Persévérance Ouest Flanc Sud r+ ~ Figure 3 Persévérance Isle-bleu Q I 45° Laves 1 "' Lac Mattagami basaltiques Q Orchan ®1Orchan Laves Ouest rhyolitiques Q Bell Allard Sud 76 ,'. ; ÇII.. Intrusion gabbro- Bell Allard Sud Q, * Mataganu anorthositique ()uéhc:

Tuffite Clef Montréal Litage * 5 km Gisements Q Gîtes O Simplifié et modifié de Lavallières (1995) Beaufield Consolidated Resources Inc. Allard River Property Regional Geology

4 Avril 2002

SIGEOM DDH Original DDH_ Length m OERDEM NOM COMP Year ESTN NORD Azi 229 1 i 176 2 GM 20631 TTAGAMI MINES LTD 1966.293802 5520262:360 230 155 GM 20631 TAGAMI MINES LTD 19661293897 5520291!360 231 3 287 GM 20631 TAGAMI MINES LTD 1966 293705 5520467.225 241 WM-1 228 GM 19335 MATTAGAMI LAKE MINES LTD 1966291689, 5521669 360 242 WM-2 336 .. - ---- GM 19335 MATTAGAMI LAKE MINES LTD 1966 292085 5520651 360 261 3 91 GM 15951 TRINITY CHIBOUGAMAU MINES LTD 1964 : 293462. 5521571 360 262_ 4 92 :GM 15951 TRINITY CHIBOUGAMAU MINES LTD 1964 293683 5521253 _360 263 5 91 GM 15951 TRINITY CHIBOUGAMAU MINES LTD ^ 1964 2943305521999 360 306 E-12 187 GM 08291-C ;NEW HOSCO MINES LTD 1958 295286' 5519864. 235 818 Mc-3 114 GM 13896 :NORANDA EXPL CO LTD 1963 291277 5519432i 180 1132 2 119 GM 10122-B ;HYDRA EXPLS LTD -_ 1961;295354 5520149 180 1133 3 121 GM 10122-B HYDRA EXPLS LTD 1961^295350 5520024 360 1134 4 122 GM 10122-A HYDRA EXPLS LTD 1961 29515015520160 360 1135 5 143 GM 10122-A HYDRA EXPLS LTD '1961 295063'5520179:315 1141 1 153 GM 08795 BIDCOP MINES LTD 1958,292004 5521024i 180 1142 2 91 GM 08795 BIDCOP MINES LTD 19581292017 5520928180 1143 3 61 1GM 08795 BIDCOP MINES LTD 1958 291525 5520422'180 1149 1 152 'GM 08401-B ANCHOR PETROLEUMS LTD DONALDA MINES LTD 1959 294851'5522618 180 1156 1 198 GM 07341-B !CLAIMS INSLEY MCIVOR SYND REG'D O'BRIEN GOLD MINES LTD 1958: 293965' 5519007: 148 1158 3 215 GM 07341-B ;`CLAIMS INSLEY MCIVOR SYND REG'D O'BRIEN GOLD MINES LTD 19581293939 55187981 360 1159 1 122 GM 07341-B 'CLAIMS INSLEY MCIVOR SYND REG'D O'BRIEN GOLD MINES LTD 1958: 292884 5519483 380 1160 _ 5 92 GM 07341-B CLAIMS INSLEY MCIVOR SYND REG'O O'BRIEN GOLD MINES LTD i 1958 293357: 5519119 180 1172 1 153 GM 09211 MCIVOR SYND REG'D 1959 2951K 5520305. 180 1385 13 480 GM 14584 LAKE MCIVOR MINES LTD 19642941185519537l360 1388 6 157 :GM 14584 LAKE MCIVOR MINES LTD 1964-292785.5519656. 180 1387 7 152 GM 14584 LAKE MCIVOR MINES LTD . 1964 293980 5519264 380 1388 8 139 1GM 14584 :LAKE MCIVOR MINES LTD 1964 293981; 5519421 380 1389 9 137 IGM 14584 1LAKE MCIVOR MINES LTD 1964' 293988' 5519458; 180 1390 10 147 GM 14584 LAKE MCIVOR MINES LTD 19641293989 5519572-360 1391 11 148 'GM 14584 LAKE MCIVOR MINES LTD 1964; 293993 5519600 180 1392 12 145 GM 14584 LAKE MCIVOR MINES LTD 1964 293994 5519758 180 1402 PD-3 124 GM 13286 PHILIPON WALSH V 1962 293246.5518380 360 1404 PD-2 165 GM 12060 CLAIMS DESRUISSEAUX CLAIMS LEVERT NORANDA EXPL CO LTD 1962 293305. 5517387' 360

TOTAL: 33 Holes 5273 Metres ~

CARIBGOLD RESOURCES INC Allard River Claims - Daniel Tp, Qc. Previous Drill Holes TABLE 2 1/ 4

SI(3EOMDDH Original DDH Dip PROF1 LITH1 :MINR1 PROF2 LITH2 MINR2'PROF3 LITH3 MINR3 -- - -- . ------ —__ ------ ----. _. .---. ._. ------229 1 45' 10 M 85 V1DN2JN1[FG] 176 V1 CN1 [FGjPY/12J - _ -- - - ------230 2 45. 23 M 61 V1C,PY,CP 116'V1D,EP --_ -- --- -_ - _ - _ _ ----- 231 355 7;M 99. V1 D, QZ,SF/V1 [FG]CP, PY/[VNJQZ 1631 V2J[VE]CB,CLN1 [FG] -- ------241 WM-1 65 14~TM 228' V1 D[V_EJCL o -- - ----'----- . .---- -..._.... -----'------T-- .....__._ _ - ---. _ - - —._ . ------242 WM-2 70 20 M 236 V2J,CL,QZ 336 13N2J[VNjQZ,CB . __-_ -- .. ---_ _. -- : — -- _ -- ------. --- -- -- -.. 267- 3 45 18'M 91 V1 D[TL]Si,PY,CB 4 262 4 45 9-M _ 921V1D[POJFP/11,PY -_.-----. -----_ ------a 263 5 45 4M 91 V1 D[POJPO,PY[VN]QZ,CB _ 0~ --- - . -.._ - ---- 306 E-1250; 41 M 187 V2D[BQI[VN]QZ,CB ------ -- — _..__ ------=----- , 0 818 Mc-3 501 12 M ' 114. V21CO][AMJEP,SF - -__—_ -- --_ _ 0 1132 250 12;M 59 , V1 D[COJ[AMjN1 [FGJCL 119 V 1 D[CO][AMJPY,PO - - — -- - -- 1133 3 50 51M 121 V1 D[COJ[AMJ[FGJ/130 Oi 1134 4 51 221M 122 V1 D[MAJ[CO] 0i 1135 5 49 9 M- 143 V1 D[FGI[COUL] 0' - _--- 1141 55 _ 22 M 153 V2J,PYN1 B 0 --~- 1142 2 55 3 M 91 V1 B[VNJQZ 1143 3 50, 61 M 0 o; 1149 1 45° 16 ~M 58 V2 75113M 1156 1 50; 21M 120 V1 D[SPJCL+ 198 V1D[MAJtSP]/12J 1158 3 50' 2tM 215 V1D[SP][COjCL 0 T I 1159 4 55 21 M . 122 V1D[VN]QZ,CB/11 0, 1180 5 ? 45 2 M ; 92 V1 D[CO] 01 i ~ 1172 1 45 33 M ~ 153 V2D/12J 0l 1385 13 80 14:M 103; V2D[CO][SP][VN]EP,QZ 227 V2D[CO]ISP]N2[TLJCL 1386 6 55 39iM 157 V2D[COJ[SPJ[VN]QZ,CB 0 1387 7 45 21M 79 V2D[CO][SP][AMJ/12J 152 V2D.[COJCL+fT1AN2J 1388 8 55 31':M 72 V2DjCO][BQ][CSJCL+ SF 139 I3AfT1 AN2D 1389 9 55 32 M 107 V2D(V1 D)ICSJPY,PO 137 V2J,LX 1390 10 55 13 M 83 V2D[SPJCW2J,LX,PY/12J 147 V2D,AM,PY 1391 11 55 13 M 88' V2D[AM](TCJPY/V2J, CL+ 148 V2D[AM][SPJ/I2J 1392 12 55 26 M 145 V2DICOJjAM][SP]/12J 0 1402 PD-3 50 23 M 124 V2DIÇO]PY,MC/12D1PO] _ 01 ------_ ------_- - 1404 P0-2 45 84 M 165 V2D[CO][AMJ/I1,FP/13B 0

TOTAL: 33 Holes

CARIBGOLD RESOURCES INC Allard River Claims - Daniel Tp, Qc. Previous Drill Holes TABLE 2 2/4

SIGEOM DDH Original DDH PROF4 LITH4 MINR4 PROFS ;LITH5 MINR5 PROFS LITHE _ _------. .------ _ 229 1 0 0 .--- _ 230 2 155 V1 [FG]CL,CB O - ------- 231 3 287 V1 BN10,PY,CP 0 241 WM-1 0 0 _.._ ~ ----- 242 WM-2_._ _ 4 0 261 3 a_ — --- 262 4 0 263 5 0. 308 E-12 0; 818 Mc-3 ~ 1132 0 1133 0! 0 1134 0 1135 0 1141 0 o 1142 a 0 1143 0 1149 152: V1(MA][TL] 0 0 1156 O. 0' L j 1158 3 0 0 0 0 a 0 1159 4 --- -- ~ 0 0 1160 5 0 0 0 1172 1 13 259 V2D[CO]jSP]IM8,CL{V2[TLll 344,V2D[CO][SP]N2[TL]CL r 46Ô~V2D[CO]/V2[TLICL/I3O 1385 1386 6 0 0: 0 -- _ .;. ------0 0 0 1387 7 8 0 0 1388 ~ 1389 9 (3-101 0 0' 0 1390 10 1391 11 0: 0 0 1392 12 0 1402 PD-3 1404 PD-2 0 0

TOTAL: 33 Holes

CARIBGOLD RESOURCES INC Allard River Claims - Daniel Tp, Qc. Previous Drill Holes TABLE 2 3/4

SIGEOM DDH Original DDH MINR6 PROF7 LITH7 MtNR 7 PROFS LITH8 MINR8 PROF9'LtTH9 MINR9, PROF10 LITH10 MINR10 ------._ . -- _-- -.._- .------ - - --- . .------. . . - -__--- - -._ 229 230 231 3 - ------._.. 241 WM-1 -----. _... --- — - 242 WM-2 ------. 3 -..._. 261 .. ------262 4 263 ------5 306 E-12 d 0' 0 818 Mc-3 d 0 0

1132 2 0 0 0 1133 3 0 0 0 `-- 1134 4 1135 5 0 -- 1 1141 0 1142 2 0 4 1143 3 0 __—...... _----- 1 1149 0 Oj 1156 1 0 0' 01 0 t} ----- 1158 3 0, ? d: 1159 4 0 0 0 1160 5 0': 0 1172--- 1 01 01 0 13 d 1385 0 01 ~ --- 1386 6 Ô 0; 0 0! 1387 7 0 0; 0: 0 1388 8 0 o 0 °s ---_ 1389 9 0 ~ pi 0 1390 10 0, 0 0 0 0; 1391 11 0 0 a 0 1392 12 0 0: 0 ~ _ ------ 1402 PD-3 0 — 0' QI ; 0. -- _ ----- _ +- 1404 PD-2 0 0 0

TOTAL: 33 Holes

CARIBGOLD RESOURCES INC Allard River Claims - Daniel Tp, Qc. Previous Drill Holes TABLE 2 4/4 MINES IOPERATION ITYPE ITONS Metric rZn % f Cu % fAg g/t fAu g/t

PRODUCTION and RESERVES SOUTH FLANK Matagami Lake 1963-1988 Production 25 645 860 8,20 0,56 20.91 0,41 Orchan 1963-1982 Production 4 514 321 9,84 1,02 37,03 0,51 Bell Allard South 1968-1970 Production 234 166 924 1,14 37,03 0,51 Bell Allard 1999- Reserves 3 200 000 13;77 1,50 43,45 0,76 Isle-Dieu 1988-1997 Production 3 050 108 17,85 1,01 76,63 0,46

Total 36 644 455 9,70 0,74 29,61 0,46 (Percentage) 83,18%

NORTH FLANK Lac Garon 1973-1975 Production 467 079 2,17 1,46 10,29 0,34 Noriia&Norita East 1975-1997 Production 4 977 045 5,30 1,61 29,00 0,62 Radiore no 2 1979-1980 Production 139 581 1,34 1,57 8,57 0,31 New Hosco 1963-1970 Production 1 826 616 1,73 1,73 10,29 0,34

Total 7 410 321 4,15 1,63 22,82 0,53 (Percentage) 16,82%

TOTAL PRODUCTION & RESERVES 44 054 776 8,77 0,89 28,47 0,47 (Percentage) [ 100,00%

RESOURCES MINES OPERATION TYPE TONS Metric Zn % Cu % Ag g/t Au g/t New Noranda Discoveries 2000- Resources 5 000 000 16,80 1,30 34,00 0,40 Perseverance Perseverance West Equinox

CARIBGOLD RESOURCES INC Matagami Mining Camp, Qc. TABLE 3 Massive Sulfide Deposits - Production and Reserves 1/1 Survey Type #line length total m total Km Hr+Days $Ikm total cost Line Cutting___._. Lines 108,4 BL & TL 26,6 Sub Total 1 135 300$ 40500$

Induced Polarization Survey 10$,4 600 $ 65 040 $ Sub Total 2

Direction & Supervision Preparation, Report Meal, hôtel Field expenses Sub Total 3 10 000 $

Contingencies 34 460 $

GRAND TOTAL 150 000 $

CARIBGOLD RESOURCES INC Allard River Claims - Daniel Tp, Qc. 150 000$ Budget Forecast November 2000 Table 4 Survey Type *line ten total m total Km HrlDays $/km total cost Line Cutting ----Lines ---- 66,6 BL & TL 10,6 Sub Total 1 77,2 300 $ 23 160 $

Induced Polarization Survey 66,6 800 $ 53 280 $ Sub Total 2

Direction 8 Supervision Preparation, Report Meal, hôtel _Field expenses Sub Total 3 10 000 $

Contingencies --- 13 560 $

GRAND TOTAL 100 000 $

CARIBGOLD RESOURCES INC Allard River Claims - Daniel Tp, Qc. November 2000 100 000$ Budget Forecast Table 5

L IN fLine E'From, ' N[ To NI From To E Metres • 9081E; 160N;195NiX 3500 910;E1 160Ni200NiX 4000 9121E1 160 N!200 N~X, 4000 914iE', 160 N.220 N_,X . 6000 916 E 160 N;220 NIX 6000 918; E I 160 N j 220 N , X 6000 920.: E i 160 N1220 N X 6000 9221E1 160 f N 1_220 N X 6000 9241E 1601N 204 N X 4400 924iE; 2121 N 220 N F X 800 i ...._.. i 926;E; 160;N 204'N X 4400 926,E I 2121N 220 N X 800

928 E 1601N 204 N X —i.----. _ 4400 928 E 212TN 220 N X 800 930 E 160N'204 N X 4400 930 E 212%'220 N X — 7- 800 932'E; 160 N 204 N X 4400 932,E 2121_N 220 NIXX 800 934 E 160 N 204 N X 4400 934 E 212 N 220 N X 800 936 E 186 N 202 N X 1600 936,E210 N 220,N X 1000. ; 938 É 186 N 202 N X 1600 938 E 2i0'N 2201N X 1000' 940;Ë 186 N 202jN X 1600 940,E 210 N~220'N X 10001 942E 186 N 205 N--.. X 1900' 942 E ', 210'N 220 ~N ' X 1000 944 Ej 186 N 205 N X 1900 944 E 210 N 230 N XI 2000 946 E 190 N205 N X'' 1500 946 E 210,ti 23-2- 2200 948 E 1961-N 205 N X'I 1500. 948 E', 210 N 232 N X 2200i 950 E 196*N 205 N X 900 950 E' 210 N 232 N X' 2200. 952 E 196 N 205 N X 7 900T 952E 210 N 232 N X 22001 954 E 196 N 205 N X 900 954~ E 210 N 232 N X1 22001 956 i E 210 N 234 N X 2400; - 958jE 220 N 230 N X. - 10001 960', E 2201N 230 N X 1000 1 108,4 1601N ! 908 E 934 E 2600. 170îN; 908 E 934 E 2600 ~ 1Y X .180 IN i 908 E 934 E 2600 190!N j X 908 E 948 ...E 4000 200' N Xj 914 E 954 E 4000f -----._. 210!N X: 9i2 E 922 E 1000 220 Xi 912 E 960 E 4800 2301N 1 X 944 E 960...B E1600. .. _ 210"N1 XI 936 E 956 2000 214jN C X: 922 Et 936 E 1400 26,6

Total Line 108,4 Total BL / TL 26,6 Grand Total- I I 135,0

CARIBGOLD RESOURCES INC Allard River Claims - Daniel Tp, Oc. November 2000 All Property - Proposed Line Cutting Table 6

BL IN Line'E~From_.._I Nj To `NIX!From1E__ To Metres Km Cost $ Ï 908 ,rE 180 N + 195 N, X' ~ 1500 9101 E1 180N~2001N 1 X1 2000 911E ! 180 N_ 2001N 'X' 2000 914jE ,I 180 N_; ~ 4000 916,E 180 N2201N~X 4000 ~ 9181E 1 180IN 1220 1 N X 4000 920IE 180 N 220 IN X .... , .._ . .._t.._..___ , 4000 9221 E 180 N 220!N X 4000' 1 924 'E 180 N 204 N ; X 1 ~ 1 2400 926 1 E 180 N i 2041N X 2400 928iE 180 Nj204ïN~X 2400 9281E 180 N'220IN,X 4000 930IE 180,Nj204IN1X 2400 932'E 180 i N 1 204 I N ! X 2400 932IE 180:N 220N X 4000 934E 1801N i 204 N X 2400 936iE 1861N 202INiX — _1600_. 9381E 186'14 202iN X 1600_.._ ..._. _ 940IE 1861N 202;N X 1600 942~E 1861N~ 2051N— }.. ,. ;X 1900 944!E 186 : N 205 i_ N X 1900 946 E 190`N 2051Nt X ; . ,_ 1500 948iE 190;N 205IN X 1500 _.._.. 9501E 196'N 20~N5 X1 900 ~_. --- j 952IE 196fN 205!N1X 900 900 ---.. ; 954!E 196IN ; 205iN X 956•E 210!N 1 234~N X 2400 958.E 1 220`N 230iN X; 1000 - ----_... I : 960IE 220!N 230 1000 66,6 1801N; 9081E 934 E 2600 190'N I 9081E 948 E 4000 200iN 9141 E 954 E 4000 10,s

Total Line 66,6 Total BL ! TL ~.. 10,6 Grand Total 77,2

CARIBGOLD RESOURCES INC Allard River Claims - Daniel Tp, Qc. November 2000 GLDZ Extension - Proposed Line Cutting Table 7 Claim No Exp Date Group Area Ha Claim No Exp Date Group___ Area Ha 5256001 20/07/2002 Inland 16 5256533 20/07/2002 Inland 12 5256002 20/07/2002 Inland 16 5256534 20/07/2002 Inland 16 5256003 20/07/2002 Inland 16 5256535 20/07/2002 Inland 16 5256004 20/07/2002 Inland 16 5256536 20/07/2002 Inland 8 5256005 20/07/2002 Inland 16 5256537 20/07/2002 Inland 16 5256006 20/07/2002 Inland 10 5256538 20/07/2002 Inland 16 5256007 20/07/2002 Inland 16 5256539 20/07/2002 Inland 16 5256008 20/07/2002 Inland 16 5256540 20/07/2002 Inland 16 5256009 20/07/2002 Inland 16 5256541 20/07/2002 Inland 13 5256010 20/07/2002 Inland 16 5256542 20/07/2002 Inland 16 5256011 20/07/2002 Inland 16 5256543 20/07/2002 Inland 13 5256012 20/07/2002 Inland 16 5256544 20/07/2002 Inland 7 5256013 .20/07/2002 Inland 16 5256545 20/07/2002 Inland 16 5256014 20/07/2002 Inland 16 5256546 20/07/2002 Inland 16 5256015 20/07/2002 Inland 16 5256547 20/07/2002 Inland 16 5256016 20/07/2002 Inland 16 5256548 20/07/2002 Inland 16 5256017 20/07/2002 Inland 16 5256549 20/07/2002 Inland 16 5256018 20/0712002 Inland 16 5256550 20/07/2002 Inland 16 5256019 20/07/2002 k. Inland 11 5256551 20/07/2002 Inlanr! 16 5256020 20/07/2002 Inland 16 5256552 20/07/2002 Inland 16 5256500 20/07/2002 Inland 16 5256553 20/07/2002 Inland 16 5256501 20/07/2002 Inland 16 5256554 20/07/2002 Inland 16 5256502 20/07/2002 Inland 16 5256555 20/07/2002 Inland 16 5256503 20/07/2002 Inland 16 5256556 20/07/2002 Inland 16 5256504 20/07/2002 Inland 16 5256557 20/07/2002 Inland 16 5256506 20/07/2002 Inland 16 5256558 20/07/2002 Inland 16 5256507 20/07/2002 Inland16 5256559 20/07/2002 Inland -._1s16 .._ 5256510 20/07/2002 Inland 16 5256560 20/07/20021 Inland 5256511 20/07/2002 Inland 16 5256561 20/07/2002 Inland 16 5256512 20/07/2002 Inland 16 5256562 20/07/2002 Inland 16 5256513 20/07/2002 Inland 18 5256563 20/07/2002 Inland 16 5256514 20/07/2002 Inland 16 5256564 20/07/2002 Inland 16 5256515 20/07/2002' Inland 13 5256565 20/07/2002 Inland 16 5256516 20/07/2002 Inland 16 5256566 20/07/2002 Inland 16 5256517 20/07/2002 Inland 16 5256567 20/07/2002 Inland 5256518 20/07/2002 Inland 16 5256568 20/07/2002 Inland 7

" 5 5256519 20/07/2002 p~ ~à 16 5256569 20/07/2002 Inland 16 l . 2 5! 5256520 20/07/2002 ~, 16 5256571 20/07/2002 Inland

; 16 1;

5256521 20/07/2002 "6' a ~a 16 5256572 20/07/2002 Inland

~ i 16

5256522 20/07/2002 3 Ô7 E 16 5256573 20/07/2002

! Inland 16

5256523 20/07/2002 51 W ~; 16 5256574 20/07/2002 Inland

~ ! 16 1 71 5256524 20/07/2002_ ~. 16 5256575 20/07/2002 Inland 16 i6

5256525 20/07/2002 ~i 16 - 5256576 20/07/2002 i51 jN 1 inland 16 5256526 20/07/2002 Inland_ 16 5256577 20/07/2002 Inland 16 5256527 20/07/2002 Inland 16 5256578 20/07/2002 Inland 16 5256528 20/07/2002 Inland 16 5256579 20/07/2002 Inland 13 5256529 20/07/2002 Inland 16 5256580 20/07/2002 Inland 16 5256530 20/07/2002 inland 16 5256581 20/07/2002 Inland 16 5256531 20/07/2002 Inland 16 L 5256582 20/07/2002 Inland' 16 5256532 20/07/2002 Inland 16 5256570 20/07/2002 Inland [ 16 TOTAL 100 Claims 1 547 i Hectares

CARIBGOLD RESOURCES INC Allard River Claims - Daniel Tp, Qc Revised: Aug 23, 2001 TABLE 1 Printed: 27/08/2001 CLAIM LIST 1/2 Claim No Exp Date Group Area Ha 5258450 28/01/2003 River 16 5258451 28/01/2003 River 16 5258452 28/01/2003 River 16 5258453 28/01/2003 River 16 52584-54-28/01/2003 River 16 5258455 18/04/2004 River 16 5258456 28/01/2003 River 5258457 18/04/2004 River 16 5258458 28/01/2003 River 16 5258459 28/01/2003 River 16 5258460 18/04/2004 River 16 5258461 28/01/2003 River 16 5258462 28/01/2003 River 16 5258463 28/01/2003 River 16 5258464 28/01/2003 River 16 5258465 28/01/2003 River 16 5258466 28/01/2003 River 16 5258467 28/01/2003 River 16 5258468 28/01/2003 River 12 TOTAL 19 Claims 300 Hectares

end RIVER 119 Claims 1 847 Hectares

CARIBGOLD RESOURCES INC Allard River Claims - Daniel Tp, Qc Revised: Aug 23, 2001 TABLE 1 Printed: 27/08/2001 CLAIM LIST 2/2 2001-03-27 10:45:53 MINISTERE DE L'ENERGIE ET RESSOURCES XBFR4670 TITRES MINIERS MERMBF89

INDEX DES TITRES PARAMETRISES TYPE CODE NOM

CANTON/SEIG/PAROISSE : C D060 DANIEL S RG/BLOC/PARCELLE NO S.N.R.C. PARCELLE S.N.R.C.: NO INTERVENANT : 17810 CARIBGOLD RESOURCES INC.

TYPE DE TITRE STATUT DU TITRE : EQ A DATE EXPIRATION DEBUT: DATE EXPIRATION FIN EN-TETE DE LISTE

Annex 1 2001-03-27 10:45:53 MINISTERE DE L'ENERGIE ET RESSOURCES PAGE : 1 XBFR4670 TITRES MINIERS MERMBF89 LISTE DES TITRES PARAMETRISES

CANTON/SEIG/PAROISSE : C DANIEL S TYPE ET S TITULAIRE RESPONSABLE % EXPIRE TRAVAUX SUPRF RBL NO RN NO TITRE PAR LOT CL 5256001 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0007 0000 00 CL 5256002 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0007 0000 00 CL 5256003 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0007 0000 00 CL 5256004 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0007 0000 00 CL 5256005 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256006 A CARIBGOLD RESOURCES 100 020720 00,00 10,00 L0006 0000 00 CL 5256007 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256008 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256009 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256010 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256011 A CARIBGOLD RESOURCES 100 020720 00,00 16, 00 L0007 0000 00 CL 5256012 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0007 0000 00 CL 5256013 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0007 0000 00 CL 5256014 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0007 0000 00 CL 5256015 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0007 0000 00 CL 5256016 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0007 0000 00 CL 5256017 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0007 0000 00 CL 5256018 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0007 0000 00 CL 5256019 A CARIBGOLD RESOURCES 100 020720 00,00 11,00 L0007 0000 00 CL 5256020 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256500 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0011 0000 00 CL 5256501 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256502 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256503 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256504 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256506 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0011 0000 00 CL 5256507 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0011 0000 00 CL 5256510 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256511 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256512 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256513 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256514 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256515 A CARIBGOLD RESOURCES 100 020720 00,00 13,00 L0010 0000 00 CL 5256516 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256517 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256518 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256519 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256520 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256521 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256522 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256523 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256524 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256525 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256526 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256527 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 2001-03-27 10:45:53 MINISTERE DE L'ENERGIE ET RESSOURCES PAGE : 2 XBFR4670 TITRES MINIERS MERMBF89

LISTE DES TITRES PARAMETRISES

CANTON/SEIG/PAROISSE : C DANIEL S

TYPE ET S TITULAIRE RESPONSABLE % EXPIRE TRAVAUX SUPRF RBL NO RN NO TITRE PAR LOT

CL 5256528 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0010 0000 00 CL 5256529 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0411 0000 00 CL 5256530 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0011 0000 00 CL 5256531 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0011 0000 00 CL 5256532 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0011 0000 00 CL 5256533 A CARIBGOLD RESOURCES 100 020720 00,00 12,00 L0011 0000 00 CL 5256534 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0011 0000 00 CL 5256535 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0011 0000 00 CL 5256536 A CARIBGOLD RESOURCES 100 020720 00,00 8,00 L0011 0000 00 CL 5256537 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0011 0000 00 CL 5256538 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0011 0000 00 CL 5256539 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256540 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256541 A CARIBGOLD RESOURCES 100 020720 00,00 13,00 L0006 0000 00 CL 5256542 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256543 A CARIBGOLD RESOURCES 100 020720 00,00 13,00 L0006 0000 00 CL 5256544 A CARIBGOLD RESOURCES 100 020720 00,00 7,00 L0006 0000 00 CL 5256545 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256546 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256547 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256548 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256549 A CARIBG~OLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256550 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256551 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256552 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256553 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256554 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256555 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256556 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256557 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256558 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256559 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256560 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256561 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256562 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256563 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256564 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0003 0000 00 CL 5256565 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0003 0000 00 CL 5256566 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0003 0000 00 CL 5256567 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0003 0000 00 CL 5256568 A CARIBGOLD RESOURCES 100 020720 00,00 7,00 L0006 0000 00 CL 5256569 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256570 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256571 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256572 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256573 A CARIBGOLD RESOURCES 100 020720 00, 00 16,00 L0006 0000 00 2001-03-27 10:45:53 MINISTERE DE L'ENERGIE ET RESSOURCES PAGE : 3 XBFR4670 TITRES MINIERS MERMBF89

LISTE DES TITRES PARAMETRISES

CANTON/SEIG/PAROISSE : C DANIEL S

TYPE ET S TITULAIRE RESPONSABLE % EXPIRE TRAVAUX SUPRF RBL NO RN NO TITRE PAR LOT

CL 5256574 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256575 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256576 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0007 0000 00 CL 5256577 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256578 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0006 0000 00 CL 5256579 A CARIBGOLD RESOURCES 100 020720 00,00 13, 00 L0003 0000 00 CL 5256580 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0003 0000 00 CL 5256581 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0003 0000 00 CL 5256582 A CARIBGOLD RESOURCES 100 020720 00,00 16,00 L0003 0000 00 CL 5258450 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0006 0000 00 CL 5258451 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0006 0000 00 CL 5258452 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0006 0000 00 CL 5258453 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0006 0000 00 CL 5258454 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0006 0000 00 CL 5258456 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0006 0000 00 CL 5258458 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0006 0000 00 CL 5258459 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0006 0000 00 CL 5258461 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0006 0000 00 CL 5258462 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0006 0000 00 CL 5258463 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0006 0000 00 CL 5258464 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0003 0000 00 CL 5258465 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0003 0000 00 CL 5258466 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0003 0000 00 CL 5258467 A CARIBGOLD RESOURCES 100 030128 00,00 16,00 L0003 0000 00 CL 5258468 A CARIBGOLD RESOURCES 100 030128 00,00 12,00 L0003 0000 00

NOMBRE DE TITRES EXTRAITS: 116