Mineral Resources

Mineral Resource estimates for the New Afton Mine, Mesquite Mine, Peak Gold Mines, Cerro San Pedro Mine and El Morro project, as at December 31, 2014, and for the Rainy River project and Blackwater project as at March 10, 2015, in each case exclusive of Mineral Reserves, are presented in the following tables.

Measured and Indicated Mineral Resource Estimates (Exclusive of Mineral Reserves)

Metal Grade Contained Metal
Tonnes
000s
Gold
g/t
Silver
g/t
Copper
%
Gold
Koz
Silver
Koz
Copper
Mlbs
New Afton
A&B zones              
Measured 15,878 0.76 2.3 0.95 390 1,183 334
Indicated 9,031 0.50 2.4 0.75 146 705 149
A&B zone M&I 24,909 0.67 2.3 0.88 535 1,878 483
C-zone              
Measured 10,187 1.11 2.5 1.18 364 819 266
Indicated 27,766 0.76 2.1 0.90 682 1,848 548
C-zone M&I 37,953 0.86 2.2 0.97 1,046 2,672 814
HW lens              
Measured
Indicated 10,180 0.52 2.1 0.45 170 691 100
HW lens M&I 10,180 0.52 2.1 0.45 170 691 100
Total New Afton M&I 73,042 0.75 2.2 0.87 1,751 5,235 1,397
Mesquite
Measured 6,571 0.45 94
Indicated 80,613 0.44 1,153
Total Mesquite M&I 87,184 0.44 1,242
PEAK MINES              
Measured 1,700 3.77 5.5 0.77 210 300 29
Indicated 2,100 2.97 7.2 1.00 200 480 46
Total Peak Mines M&I 3,800 3.33 6.4 0.90 410 780 75
CERRO SAN PEDRO
Measured
Indicated
Total Cerro San Pedro M&I
Rainy River
Direct processing material
Open pit
Measured 3,416 1.35 1.8 148 199
Indicated 36,899 1.30 3.6 1,548 4,284
Open pit M&I (direct processing) 40,315 1.31 3.5 1,696 4,483
Underground              
Measured
Indicated 5,595 3.99 15.2 718 2,728
Underground M&I (direct processing) 5,595 3.99 15.2 718 2,728
Total M&I (direct processing) 45,910 1.64 4.9 2,414 7,211
Stockpile material
Open pit
Measured 1,232 0.35 1.2 14 49
Indicated 34,118 0.43 2.5 468 2,739
Open pit M&I (stockpile) 35,350 0.42 2.5 482 2,788
Total M&I              
Measured 4,648 1.08 1.7 162 248
Indicated 76,612 1.11 3.9 2,734 9,751
Total Rainy River M&I 81,260 1.11 3.8 2,896 9,999
Blackwater
Direct processing material
Measured 293 1.38 6.7 13 63
Indicated 36,411 0.85 4.6 999 5,385
M&I (direct processing) 36,703 0.86 4.6 1,011 5,448
Stockpile material              
Measured
Indicated 12,659 0.31 3.9 124  1,587
M&I (stockpile) 12,659 0.31 3.9 124  1,587
Total Blackwater M&I 49,362 0.72 4.4 1,136 7,035
Capoose
Indicated 16,071 0.57 21.7 293 11,233
El Morro 100% Basis 30% Basis
Measured 19,790 0.53 0.51 102 67
Indicated 72,563 0.38 0.39 265 189
Total El Morro M&I 92,353 0.41  – 0.42 366 256
Total M&I         8,094 34,283 1,728

INFERRED Mineral resource estimates

Metal Grade Contained Metal
Tonnes
000s
Gold
g/t
Silver
g/t
Copper
%
Gold
Koz
Silver
Koz
Copper
Mlbs
New Afton
A&B zone 6,154 0.35 1.4 0.37 69 269 50
C-zone 6,965 0.47 1.5 0.53 105 329 82
HW lens 966 0.69 1.5 0.46 21 45 10
New Afton Inferred 14,085 0.43 1.4 0.46 195 643 142
Mesquite 6,619 0.33 70
Peak Mines 1,600 1.77 6.2 1.33 92 320 47
Cerro San Pedro 199 0.56 19.1 4 122
Rainy River
Direct processing
Open pit 7,785 0.82 2.7 206 665
Underground 2,609 4.20 7.6 352 635
Total direct processing 10,394 1.67 3.9 558 1,300
Stockpile            
Open pit 7,694 0.32 4.2 79 1,036
Rainy River Inferred 18,088 1.10 4.0 637 2,336
Blackwater
Direct processing 8,915 0.81 3.5 233 1,003
Stockpile 1,881 0.32 3.3 19 200
Blackwater Inferred 10,796 0.73 3.5 252 1,203
Capoose 19,776 0.48 26.2 302 16,670
El Morro 100% Basis 30% Basis
Open pit 564,217 0.16 0.26 871 970
Underground 113,840 0.97 0.78 1,065 587
Total Inferred         3,488 21,294 1,746