McFauld's Lake Project
Jeremy Niemi, Vice President, Geology for Noront Resources is the qualified person who prepared or supervised the preparation of the scientific and technical information disclosed herein.
Eagle's Nest
NI 43-101 Resource Estimate
| Indicated | Tonnes | Ni (%) | Cu (%) | Au (g/t) | Pt (g/t) | Pd (g/t) | Ag (g/t) | Ni lbs millions | Cu lbs millions | Au (oz) | Pt (oz) | Pd (oz) | Ag (oz) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Resource Estimate @ $115/tonne NSR Cut-off Grade
1. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Estimated mining costs, metallurgical recoveries and project infrastructure costs in this report may materially affect this resource estimate due to those components not being studied in sufficient detail to accurately predict their realized values. The estimate of mineral resources may also be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issues. There is no guarantee that Noront will be successful in obtaining any or all of the requisite consents, permits or approvals, regulatory or otherwise for the project or that the project will be placed into production. 2. The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and further exploration drilling is required to determine whether they can be upgraded to an Indicated or Measured mineral resource category. |
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| Massive | 233,000 | 6.52 | 3.45 | 0.24 | 1.94 | 12.20 | 9.75 | 33.4 | 17.7 | 1,800 | 14,500 | 91,400 | 72,900 |
| Disseminated | 1,601,000 | 1.30 | 0.85 | 0.14 | 1.00 | 2.70 | 2.94 | 45.8 | 29.9 | 7,300 | 51,700 | 139,100 | 151,500 |
| Total Indicated | 1,834,000 | 1.96 | 1.18 | 0.15 | 1.12 | 3.91 | 3.81 | 79.2 | 47.6 | 9,100 | 66,200 | 230,500 | 224,400 |
| Inferred | Tonnes | Ni (%) | Cu (%) | Au (g/t) | Pt (g/t) | Pd (g/t) | Ag (g/t) | Ni lbs millions | Cu lbs millions | Au (oz) | Pt (oz) | Pd (oz) | Ag (oz) |
| Massive | 217,000 | 7.00 | 2.86 | 0.18 | 3.00 | 11.75 | 8.70 | 33.5 | 13.7 | 1,300 | 20,900 | 82,000 | 60,700 |
| Disseminated | 870,000 | 1.24 | 0.88 | 0.12 | 0.97 | 2.69 | 3.09 | 23.7 | 16.8 | 3,300 | 27,000 | 75,300 | 86,300 |
| Total Inferred | 1,087,000 | 2.39 | 1.27 | 0.13 | 1.37 | 4.50 | 4.21 | 57.2 | 30.5 | 4,600 | 47,900 | 157,300 | 147,000 |