NI43-101 Technical Report for the Waihi Gold Mine 23rd November 2015 Report Authors: Trevor Maton, B.Sc. (Hons), M.Sc., M.Sc. (Min. Econ.), MAusIMM (CP) Dino Bertoldi, B.AppSc., FAusIMM (CP), SME Peter Church, B.Sc., MAusIMM (CP) NI43-101 Waihi Gold Mine TECHNICAL REPORT CERTIFICATION The effective date of this Technical Report and sign off is 23rd November 2015. Trevor Maton Date: 23rd November 2015 Peter Church Date 23rd November 2015 Dino Bertoldi Date 23rd November 2015 Page 2 of 136 NI43-101 Waihi Gold Mine Table of Contents 1 SUMMARY ...................................................................................................................................... 13 1.1 Overview ................................................................................................................................ 13 1.2 Introduction ............................................................................................................................ 13 1.3 Reliance on Other Experts .................................................................................................... 13 1.4 Property Description, Location and Ownership ..................................................................... 13 1.5 Accessibility, Climate, Local resources, Infrastructure and Physiography ............................ 14 1.6 Project History ....................................................................................................................... 15 1.7 Geology Setting and Mineralization ....................................................................................... 15 1.8 Deposit Types ........................................................................................................................ 16 1.9 Exploration ............................................................................................................................. 16 1.10 Drilling .................................................................................................................................... 16 1.11 Sample Method and Analysis ................................................................................................ 17 1.12 Metallurgical Test Work ......................................................................................................... 17 1.13 Mineral Resource Estimate ................................................................................................... 18 1.14 Mineral Reserve Estimate ..................................................................................................... 20 1.15 Mining Methods ..................................................................................................................... 22 1.16 Recovery Methods ................................................................................................................. 22 1.17 Project Infrastructure ............................................................................................................. 23 1.18 Market Studies and Contracts ............................................................................................... 23 1.19 Environment and Permitting .................................................................................................. 23 1.20 Economic Analysis ................................................................................................................ 24 1.21 Adjacent Properties ............................................................................................................... 24 1.22 Other Relevant Data and Information .................................................................................... 24 1.23 Recommendations ................................................................................................................. 25 2 INTRODUCTION ............................................................................................................................. 26 2.1 Terms of Reference ............................................................................................................... 27 2.2 Principal Sources of Information ........................................................................................... 27 2.3 Qualified Persons and Inspections of the Property ............................................................... 27 2.4 Effective Dates ...................................................................................................................... 28 2.5 Information Sources and References .................................................................................... 28 3 RELIANCE ON OTHER EXPERTS................................................................................................. 29 3.1 External Consultants ............................................................................................................. 29 3.2 Trevor Maton ......................................................................................................................... 29 3.3 Peter Church ......................................................................................................................... 29 4 PROPERTY DESCRIPTION AND LOCATION ............................................................................... 30 4.1 Location ................................................................................................................................. 30 4.2 Land Strategy and Property Ownership ................................................................................ 30 Page 3 of 136 NI43-101 Waihi Gold Mine 4.3 Water Rights .......................................................................................................................... 31 4.4 Easements and Road Access ............................................................................................... 31 4.5 Regulatory Context ................................................................................................................ 31 4.6 Permits and Approvals .......................................................................................................... 32 4.7 Mineral Tenure ...................................................................................................................... 32 5 ACCESSIBILITY, CLIMATE, PHYSIOGRAPHY, LOCAL RESOURCES AND INFRASTRUCTURE .................................................................................................................................................... 35 5.1 Accessibility ........................................................................................................................... 35 5.2 Climate and Physiography..................................................................................................... 35 5.3 Local Resources and Infrastructure ...................................................................................... 35 5.4 Local Service Industry ........................................................................................................... 36 5.5 Comments on Accessibility, Climate, Local Resources, Infrastructure, and Physiography .. 36 6 HISTORY ......................................................................................................................................... 37 7 GEOLOGICAL SETTING AND MINERALIZATION ....................................................................... 39 7.1 Regional Geology .................................................................................................................. 39 7.2 Project Geology ..................................................................................................................... 40 7.3 Alteration and Weathering ..................................................................................................... 40 7.4 Deposits ................................................................................................................................. 41 7.5 Comments on Geological Setting and Mineralization ........................................................... 43 8 DEPOSIT TYPES ............................................................................................................................ 44 8.1 Comments on Deposit Types ................................................................................................ 44 9 EXPLORATION ............................................................................................................................... 45 9.1 Grids and Surveys ................................................................................................................. 45 9.2 Drilling .................................................................................................................................... 45 9.3 Bulk Density ........................................................................................................................... 46 9.4 Comments on Exploration ..................................................................................................... 46 10 DRILLING ........................................................................................................................................ 47 10.1 Drill Methods .......................................................................................................................... 47 10.2 Geological Logging ................................................................................................................ 49 10.3 Recovery...............................................................................................................................