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NI 43-101 Report - Preliminary Economic Assessment Effective Date: 12 January 2016 Document No: 0539-RPT-004 Rev 4 Macusani Project Macusani, Peru NI 43-101 Report - Preliminary Economic Assessment Prepared For: Plateau Uranium Inc. QUALIFIED PERSONS: Michael Short, BE (Civil Eng), CEng FIMMM, FAusIMM(CP), FIEAust CPEng Thomas Apelt, BEng, PhD (Chem Eng), CEng MIChemE, MAusIMM(CP) David Young BSc (Hons), FGSSA, FSAIMM, FAusIMM, Pr Sci Nat. Mark Mounde B.Eng., CEng MIMMM CONTRIBUTING CONSULTANTS: GBM Minerals Engineering Consultants Limited Wardell Armstrong International Limited The Mineral Corporation Compiled By: GBM Project Number: 0539 GBM Template No: GBM-RPT-008 Rev:4 Page 1 NI 43-101 Report - Preliminary Economic Assessment - 0539-RPT-004 Rev 4 Document Approval Role Name Prepared by Project Engineer Tom Davidson Checked by Project Controls Manager Jo Thompson Checked by Project Manager Joe Russell Approved by Qualified Person Michael Short Approved by Qualified Person Thomas Apelt Approved by Qualified Person David Young Approved by Qualified Person Mark Mounde IMPORTANT NOTICE: This report was prepared as a National Instrument 43-101 Technical Report, in accordance with Form 43-101F1, for Plateau Uranium Inc. by GBM Minerals Engineering Consultants Limited. The quality of information, conclusions, and estimates contained herein is consistent with the level of effort involved in GBM’s services, based on: i) information available at the time of preparation, ii) data supplied by outside sources, and iii) the assumptions, conditions, and qualifications set forth in this report. This report is intended to be filed as a Technical Report with Canadian securities regulatory authorities pursuant to National Instrument 43-101, Standards of Disclosure for Mineral Projects. Except for the purposes legislated under provincial securities law, any other use of this report by any third party is at that party’s sole risk. Page 2 NI 43-101 Report - Preliminary Economic Assessment - 0539-RPT-004 Rev 4 CERTIFICATE OF QUALIFIED PERSON MICHAEL JOHN SHORT As the individual who has co-authored or supervised the preparation of sections of the Technical Report prepared for Plateau Uranium Inc. (the “Issuer”) entitled “NI 43-101 Report Preliminary Economic Assessment” dated effective 12 January 2016 (the “Technical Report”), I hereby certify that: 1. I am a Chartered Engineer and the Managing Director of GBM Minerals Engineering Consultants Limited (“GBM”) of Regal House 70 London Road, Twickenham, Middlesex, TW1 3QS, England. 2. I graduated with a Bachelor of Engineering in Civil Engineering from the University of New South Wales, Australia in 1975. I am a Chartered Engineer (CEng) registered with the Engineering Council UK and a Fellow of the Institute of Materials, Minerals and Mining (FIMMM). I am a Chartered Professional (CP) and a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). I am a Chartered Professional Engineer (CPEng) and Fellow of Engineers Australia (FIEAust). I have been working in the engineering profession continuously since 1975 and have had experience in metallurgy, process design and engineering, plant operations and management. 3. I have read the definition of “Qualified Person” set out in the National Instrument 43-101 (“NI- 43-101”) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfil the requirements to be a “Qualified Person” for the purposes of NI 43-101. 4. I have personally visited the Macusani Yellowcake Project site in October 2009 and January 2011. Additionally GBM professionals visited the site in November 2013. 5. I have authored or supervised the work carried out by other GBM professionals for GBM’s contribution to the Technical Report, and take responsibility for Sections 1, 2, 3, 4, 5, 6, 18, 19, 20, 21, 22, 24, 25, 26 and 27. 6. I am independent of the Issuer applying the test set out in Section 1.5 of NI 43-101. 7. I, and GBM, have had prior involvement with the project on behalf of Macusani Yellowcake Inc. as described in the following report: Technical Report entitled “Preliminary Economic Assessment for the Colibri II and III Properties” dated 2010, No. 0387-PR-001. Technical Report entitled “Preliminary Economic Assessment” dated 2014, No. 0501-RPT-001 Page 3 NI 43-101 Report - Preliminary Economic Assessment - 0539-RPT-004 Rev 4 8. I have read NI 43-101, and the sections of the Technical Report for which I am responsible, as stated above, have been prepared in compliance with NI 43-101 and Form 43-101F1. 9. To the best of my knowledge, information, and belief, as of the date of this certificate, the Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading. Dated this 12 January 2016, London, United Kingdom. _____________________________ Michael John Short, BE (Civil Eng), CEng FIMMM, FAusIMM(CP), FIEAust CPEng Qualified Person Page 4 NI 43-101 Report - Preliminary Economic Assessment - 0539-RPT-004 Rev 4 CERTIFICATE OF QUALIFIED PERSON THOMAS APELT As the individual who has co-authored or supervised the preparation of sections of the Technical Report prepared for Plateau Uranium Inc. (the “Issuer”) entitled “NI 43-101 Report - Preliminary Economic Assessment” dated effective 12 January 2016 (the “Technical Report”), I hereby certify that: 1. I am a Process Engineer with GBM Minerals Engineering Consultants Limited (“GBM”) of Regal House 70 London Road, Twickenham, Middlesex, TW1 3QS, England. 2. I graduated with a Bachelor of Engineering in Chemical Engineering from the University of Queensland, Australia in 1992. I graduated with a Doctor of Philosophy (Chemical Engineering) from the University of Sydney, Australia in 2007. I am a Chartered Engineer (CEng) registered with the Engineering Council UK and am a Member of the Institute of Chemical Engineers (MIChemE). I am a Chartered Professional – Metallurgy (CPMet) and a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM). I have been engaged in the engineering profession since 1993 and have had experience in metallurgy and process design and optimisation, including experience in heap leach design. 3. I have read the definition of “Qualified Person” set out in the National Instrument 43-101 (“NI- 43-101”) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfil the requirements to be a “Qualified Person” for the purposes of NI 43-101. 4. GBM professionals have visited the Macusani Yellowcake Project site in October 2009, January 2011 and November 2013. 5. I have authored or supervised the work carried out by other professionals for GBM’s contribution to the Technical Report, and take responsibility for Sections 13 and 17. 6. I am independent of the Issuer applying the test set out in Section 1.5 of NI 43-101. 7. I, and GBM, have had prior involvement with the project as described in the following reports: Technical Report entitled “Preliminary Economic Assessment for the Colibri II and III Properties” dated 2010, No. 0387-PR-001. Technical Report entitled “Preliminary Economic Assessment” dated 2014, No. 0501-RPT-001 8. I have read NI 43-101, and the sections of the Technical Report for which I am responsible, as stated above, have been prepared in compliance with NI 43-101 and Form 43-101F1. Page 5 NI 43-101 Report - Preliminary Economic Assessment - 0539-RPT-004 Rev 4 9. To the best of my knowledge, information, and belief, as of the date of this certificate, the Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading. Dated this 12 January 2016, London, United Kingdom. _____________________________ Thomas Apelt, BEng, PhD (Chem Eng), CEng MIChemE, MAusIMM(CP) Qualified Person Page 6 NI 43-101 Report - Preliminary Economic Assessment - 0539-RPT-004 Rev 4 CERTIFICATE OF QUALIFIED PERSON DAVID ROBERT YOUNG As the individual who has co-authored or supervised the preparation of sections of the Technical Report prepared for Plateau Uranium Inc. (the “Issuer”) entitled “NI 43-101 Report - Preliminary Economic Assessment” dated effective 12 January 2016 (the “Technical Report”), I hereby certify that: 1. I am an independent Professional Geologist and have contracted my services to The Mineral Corporation (“TMC”) of Block B, Homestead Office Park, 65 Homestead Avenue, Bryanston, Johannesburg, South Africa. 2. I graduated with a Bachelor of Science Honours in Geology from the London University, Chelsea College, United Kingdom in 1974. I am a practising geologist registered with the South African Council for Natural Scientific Professions (No. 400989/83), a Fellow of the South African Institute of Mining and Metallurgy (FSAIMM), a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM), and a Fellow the Geological Society of South Africa (FGSSA). I have practiced geology continuously since 1974 and have had experience reporting uranium mineral resources to the South African Nuclear Fuels Regulators, the mapping of acid volcanics and estimation of Mineral Resources for three dimensional ore bodies. 3. I have read the definition of “Qualified Person” set out in the National Instrument 43-101 (“NI- 43-101”) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfil the requirements to be a “Qualified Person” for the purposes of NI 43-101. 4. I have personally visited the Macusani Yellowcake Project site in August 2008, July 2009, January 2011 and May 2013 including undertaking data verification activities. 5. I have authored or supervised the work carried out by other professionals for TMC’s contribution to the Technical Report, and take responsibility for Sections 6, 7, 8, 9, 10, 11, 12, 14 and 23. 6. I am independent of the Issuer applying the test set out in Section 1.5 of NI 43-101.
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