Final Gallowai-Bul River Technical Report Project No. 12V1249 March 2013 Prepared By Walter A Dzick B.Sc. (Geology), M.B.A. AIPG CPG Principal Consultant, Snowden Mining Industry Consultants ............................................................................ Abolfazl Ghayemghamian PhD (Geological Sciences), Specialist in Geostatistics Consultant Resource Geologist Snowden Mining Industry Consultants ........................................................................... Reviewed By Roderick Carlson BAppSc. (Geology), MSc (Ore deposit evaluation), MAIG, RPGeo Divisional Manager – Applied Geosciences Snowden Mining Industry Consultants .......................................................................... Office Locations IMPORTANT NOTICE Perth This report was prepared as a National Instrument 43-101 Technical 87 Colin St, West Perth WA 6005 Report, in accordance with Form 43-101F1, for Bul River Mineral Corp AUSTRALIA by Snowden. The quality of information, conclusions, and estimates PO Box 77, West Perth WA 6872 contained herein is consistent with the level of effort involved in AUSTRALIA Snowden’s services, based on: i) information available at the time of Tel: +61 8 9213 9213 preparation, ii) data supplied by outside sources, and iii) the Fax: +61 8 9322 2576 assumptions, conditions, and qualifications set forth in this report. This ABN: 99 085 319 562 report is intended to be used by Bul River Mineral Corp subject to the [email protected] terms and conditions of its contract with Snowden. That contract permits Brisbane Bul River Mineral Corp to file this report as a Technical Report with Level 15, 300 Adelaide Street Canadian Securities Regulatory Authorities pursuant to provincial Brisbane QLD 4000 AUSTRALIA securities legislation. Except for the purposes legislated under provincial PO Box 2207, Brisbane QLD 4001 securities law, any other use of this report by any third party is at that AUSTRALIA party’s sole risk. Tel: +61 7 3231 3800 Fax: +61 7 3211 9815 ABN: 99 085 319 562 [email protected] Johannesburg Technology House, Greenacres Office Park, Cnr. Victory and Rustenburg Roads, Victory Park JOHANNESBURG 2195 SOUTH AFRICA PO Box 2613, Parklands 2121 SOUTH AFRICA Tel: + 27 11 782 2379 Fax: + 27 11 782 2396 Reg No. 1998/023556/07 [email protected] Vancouver Suite 550, 1090 West Pender St, VANCOUVER BC V6E 2N7 CANADA Tel: +1 604 683 7645 Fax: +1 604 683 7929 Reg No. 557150 [email protected] Calgary Suite 850, 550 11th Avenue SW CALGARY, ALBERTA T2R 1M7 Tel +1 403 452 5559 Fax +1 403 452 5988 [email protected] Belo Horizonte Afonso Pena 2770, CJ 201 A 205 Funcionários, 30.130-007, BELO HORIZONTE MG BRASIL Tel: +55 (31) 3222-6286 Fax: +55 (31) 3222-6286 [email protected] Oxford Lvl 3, The Magdalen Centre 1 Robert Robinson Avenue The Oxford Science Issued by: Vancouver Office Park OXFORD OX4 4GA Tel: +44 1865 784 884 Doc Ref: 130316_FINAL_12V1249_Gallowai-Bul River Technical Fax: +44 1865 784 888 Report [email protected] Website Last Edited: 27/03/2013 9:34:00 AM www.snowdengroup.com March 2013 2 of 152 Gallowai-Bul River Technical Report 1 Summary ............................................................................................................................. 8 1.1 Mineral Resource Estimate ...................................................................................... 8 1.2 Interpretations and Conclusions ............................................................................. 10 1.3 Recommendations ................................................................................................. 10 2 Introduction ........................................................................................................................ 12 3 Reliance on other experts .................................................................................................. 13 4 Property description and location ....................................................................................... 14 4.1 Land Tenure ........................................................................................................... 14 5 Accessibility, climate, local resources, Infrastructure and physiography ............................ 18 5.1 Accessibility ........................................................................................................... 18 5.2 Climate ................................................................................................................... 18 5.3 Local Resources .................................................................................................... 18 5.4 Infrastructure .......................................................................................................... 18 5.5 Physiography ......................................................................................................... 19 6 History ............................................................................................................................... 20 6.1 Mine Site Exploration ............................................................................................. 21 6.2 Database Development .......................................................................................... 21 6.3 Underground Development .................................................................................... 22 6.3.1 Historic Resource/Reserve Estimates .................................................... 23 7 Geological setting and mineralisation ................................................................................ 25 7.1 Local geology ......................................................................................................... 28 7.2 Mineralisation ......................................................................................................... 28 8 Deposit types ..................................................................................................................... 29 9 Exploration ........................................................................................................................ 30 9.1 Geophysical Surveys ............................................................................................. 30 9.2 Stream Sediment Geochemistry ............................................................................. 30 10 Drilling ............................................................................................................................... 31 10.1 Percussion Drilling ................................................................................................. 31 10.2 Diamond Drilling ..................................................................................................... 31 11 Sample preparation, analyses, and security ...................................................................... 34 11.1 Sampling ................................................................................................................ 34 11.2 Pre-2001 Sampling ................................................................................................ 34 11.3 2001 - 2009 Sampling ............................................................................................ 34 11.4 2011 Logging and Sampling conducted by MMTS ................................................. 35 11.5 Underground Sampling .......................................................................................... 36 11.6 Assay Analysis Pre 2009 ........................................................................................ 37 11.7 2011 - 2012 Sampling by MMTS ............................................................................ 38 11.8 Security .................................................................................................................. 38 March 2013 3 of 152 Gallowai-Bul River Technical Report 11.9 Author's opinion on the adequacy of sample preparation, security, and analytical procedures ............................................................................................. 38 11.9.1 Snowden's Opinion ................................................................................ 38 12 Data verification ................................................................................................................. 40 12.1 Database................................................................................................................ 40 12.1.1 Data Validation Survey and Collars ........................................................ 40 12.1.2 Analysis of Blanks, Standards, and Duplicates for 2011/2012 ................ 40 12.1.3 Duplicate Analysis .................................................................................. 46 12.2 Qualified person’s opinion on the adequacy of the data for the purpose of Resource Estimation .............................................................................................. 53 13 Mineral processing and metallurgical testing ..................................................................... 54 14 Mineral Resource estimates .............................................................................................. 56 14.1 Summary................................................................................................................ 56 14.2 Disclosure .............................................................................................................. 58 14.2.1 Known issues that materially affect mineral resources ..........................