Title page HIGH RIVER GOLD MINES LTD The Bissa Asset, Burkina Faso, NI 43 101 Technical Report July 2012 HIGH RIVER GOLD MINES LTD The Bissa Asset, NI 43 101 Technical Report TABLE OF CONTENTS 1 SUMMARY................................................................................................................................ 1 1.1 Introduction....................................................................................................................... 1 1.2 Project Location, Accessibility and Climate......................................................................... 1 1.3 History............................................................................................................................... 1 1.4 Property Ownership........................................................................................................... 2 1.5 Property Description.......................................................................................................... 2 1.6 Geology and Mineralisation................................................................................................ 2 1.7 Exploration and Drilling...................................................................................................... 3 1.8 Mineral Resource & Mineral Reserves................................................................................ 3 1.9 Mining ............................................................................................................................... 7 1.10 Mineral Processing............................................................................................................. 7 1.11 Environmental Studies ....................................................................................................... 7 1.12 Economic Analysis.............................................................................................................. 8 1.13 Conclusions and Recommendations................................................................................... 9 2 INTRODUCTION ...................................................................................................................... 11 2.1 Purpose of the Technical Report....................................................................................... 11 2.2 Independent Consultants................................................................................................. 11 2.3 Personal Inspections of the Bissa Gold Project.................................................................. 12 2.4 Units and Currency........................................................................................................... 13 3 RELIANCE ON OTHER EXPERTS................................................................................................ 14 4 PROPERTY DESCRIPTION AND LOCATION............................................................................... 15 4.1 Introduction..................................................................................................................... 15 4.2 Location........................................................................................................................... 15 4.3 Licences and Tenure......................................................................................................... 15 4.4 Environmental Obligations............................................................................................... 20 5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, SEISMICITY AND PHYSIOGRAPHY .............................................................................................................................. 21 5.1 Accessibility ..................................................................................................................... 21 5.2 Physiography.................................................................................................................... 21 5.3 Climate ............................................................................................................................ 21 5.4 Local Resources and Infrastructure................................................................................... 21 6 HISTORY ................................................................................................................................. 23 6.1 Burkina Faso Gold History ................................................................................................ 23 6.2 Project History ................................................................................................................. 25 7 GEOLOGICAL SETTING AND MINERALISATION........................................................................ 26 7.1 Geological Setting ............................................................................................................ 26 ZT61-1100/MM696 Final V6.0 Page ii July 2012 HIGH RIVER GOLD MINES LTD The Bissa Asset, NI 43 101 Technical Report 7.1.1 Regional Geology...................................................................................................... 26 7.1.2 Project Geology........................................................................................................ 27 7.2 Mineralisation.................................................................................................................. 30 7.3 Other Permits .................................................................................................................. 34 7.3.1 Bouly........................................................................................................................ 34 7.3.2 Gougre..................................................................................................................... 36 7.3.3 Labola ...................................................................................................................... 39 7.3.4 Guibare .................................................................................................................... 45 7.3.5 Zinigma .................................................................................................................... 45 7.3.6 Sakou ....................................................................................................................... 46 7.3.7 Yimiougou................................................................................................................ 46 7.3.8 Mane........................................................................................................................ 47 7.3.9 Noungou .................................................................................................................. 47 7.3.10 Tyegana.................................................................................................................... 47 8 DEPOSIT TYPE......................................................................................................................... 49 8.1 Introduction..................................................................................................................... 49 8.2 Bissa Group Property ....................................................................................................... 49 9 EXPLORATION......................................................................................................................... 50 9.1 Bissa Gold Deposit............................................................................................................ 50 9.2 Sampling Method and Approach ...................................................................................... 50 9.2.1 Trenching Samples ................................................................................................... 50 9.2.2 Reverse Circulation Drilling Samples......................................................................... 51 9.2.3 Core Drilling Samples................................................................................................ 51 9.3 Other Permits & Exploration Summary............................................................................. 52 10 DRILLING ................................................................................................................................ 54 10.1 Bissa Group Property ....................................................................................................... 54 10.2 Drilling Summary (January-August 2011).......................................................................... 54 11 SAMPLE PREPARATION, ASSAYING, SECURITY ....................................................................... 56 11.1 Sample Preparation & Analysis......................................................................................... 56 11.2 Density and Specific Gravity Determinations.................................................................... 56 11.3 Bouly QA/QC.................................................................................................................... 57 12 DATA VERIFICATION............................................................................................................... 61 12.1 Introduction..................................................................................................................... 61 12.2 Bissa................................................................................................................................. 61 13 MINERAL PROCESSING AND METALLURGICAL TESTING ......................................................... 62 13.1 Introduction....................................................................................................................