FOURTH YEAR ASSESSMENT REPORT PROSPECTING AND GEOCHEMICAL INVESTIGATIONS LICENCE M SITUATED WITHIN NTS MAP SHEET 02E/02 BRINKS POND CENTRAL

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3 FOURTH YEAR ASSESSMENT REPORT PROSPECTING AND GEOCHEMICAL INVESTIGATIONS LICENCE M SITUATED WITHIN NTS MAP SHEET 02E/02 BRINKS POND CENTRAL NEWFOUNDLAND

4 I TABLE OF CONTENTS 1:0 INTRODUCTION PAGE 1 2:0 LOCATION AND ACCESS PAGE 1 3:0 PREVIOUS WORK PAGE 2 4:0 NEWFOUNDLAND GEOLOGY PAGE 3 5:0 REGIONAL GEOLOGY PAGE 4 6:0 LOCAL GEOLOGY PAGE 4 7:0 EXPLORATION 2009 PAGE 5 8:0 REFERENCES PAGE 6 APPENDICES APPENDEX I STATEMENT OF EXPENDITURES APPENDEX II SAMPLE DESCRIPTION APPENDEX III ANALYTICAL CERTIFICATES ILLUSTRATIONS FIG. I LOCATION MAP FIG. II NEWFOUNDLAND GEOLOGY FIG. Ill SAMPLE LOCATION MAP

5 1:0 INTRODUCTION Licence M consist of 4 claims all situated within NTS Map Sheet 02E/02, it was staked in June Contained within this licence is a gold showing named the Treasure.Assay results from a 2002 program by Candente Resources returned highly anomalous values of 2g/t at this site. The Dept. of Mines and Energy conducted a regional lake bottom sediment survey in 1981 and released the results in Samples from two lakes one to the east of the property and one to the west returned values of 13ppb Au. The source of these anomalies has not yet been discovered. These report summaries the geochemical exploration carried out in 2012 within licence M 2:0 LOCATION AND ACCESS The claim area is located hi North-central Newfoundland on the northern coast at Indian Arm (Figure 1). The area covered by the licence is on the NTS sheet 2 EI2. The city of Gander, NL is located approximately 38 kilometers to the southeast Access to the properties from Gander is via the TCH, which can be taken west from Gander 46 kilometers to the Notre Dame Junction where Route 340 heads north approximately 25 kilometers to the property boundary. The area displays a gently rolling topography, sloping gradually to the northeast. Average elevation is 50 to 75 m with rounded hills giving less than 50 m relief to the area. Ridges and drainage are generally to the northeast. Pagel

6 3:0 PREVIOUS WORK In 1973 International Mogul Mines Limited flew an airborne magnetic and EM survey that included the area covered by the present day Brinks Pond claims. Conductive anomalies located by the airborne survey were ground checked with cut-line grids. Anomalies defined by the ground geophysics were drill tested with 6 diamond drill holes. Noranda Exploration Company completed a compilation of the area in 1988 studying the base metal potential of International Mogul Limited work. Corona Corporation worked the southern and eastern portions of the property in 1989, letting the ground laps due to a lack of encouraging gold results. Candente Resource Corporation worked the area of the claim group in the 2002/2003 season. An area where the current claims were staked returned anomalous gold as high as 2021 ppb gold. They let the ground laps due to the companies focus on pulling out of Newfoundland. In 1953 the Geophysics Section of the Geological Survey of Canada flew an airborne magnetic survey and published map 7048G in This map defines a large magnetic high at Dildo pond that corresponds to the large pyroxenite gabbro intrusive body. The Newfoundland Department of Mines and Energy conducted a regional lake bottom sediment survey starting in 1981 and released the results in In 2009 there were 15 samples were collected within the property, one of these samples was anomalous in zinc and another returned an high of 1.0 g/t. All other eleven samples were background levels. page 2

7 4:0 NEWFOUNDLAND GEOLOGY The island of Newfoundland lies at the northeastern edge afthe Appalachian Orogen. Newfoundland is divided into three major tectonic-stratigraphic subdivision; The Humber Zone, The Central Mobile Belt and the Avalon Zone (Williams, 1988). The Central Mobile lielt separates the Humber Zone that underlies the northwestern part of the island from the Avalon Zone, underlying the southeastern part of th e island.(fig. 2) The Humber Zone consist of a Precambrian crystalline basement of late Grenvillian gneisses and plutonic rocks that is overlain with Paleozoic (Eocambrian to Ordovician) shelf faces clastic and carbonate rock sequences (Erdmer 1986). The Avalon Zone consist of a Precambrian basement of the Hadrynian meta-volanic, meta-sedimentary and plutonic rock overlain by early Paleozoic (Eocambrian to Ordovician) shallow marine sedimentary strata (William 1978). The Central Mobile Belt, underlying the central portions of Newfoundland, is divided into the Dunnage Zone and the Gander Zone. The lower to Middle Ordovician Gander Zone, records the rocks fonned at or near the eastern lapetan continental margin. The rocks of the Gander Zone, consist of metamorphosed sedimentary and volanic rocks, intruded with numerous Silurian to Devonian granitoid plutons, are exposed at the easte- and southern margins of the Central Mobile Belt. The Dunnage Zone, conformably overlying the Gander Zone, further records the formation, development and later destruction of the early Paleozoic ocean lapetus. The rocks of the Dunnage Zone consist of island arclback-are volcanic, sedimentary,ophiolite, and plutonic rocks, ranging in age from Middle Ordovician to Jurassic(Harland and Gayer 1972). PageS

8 5:0 REGIONAL GEOLOGY The property lies within the Dunnage Zone and more specifically consists of Silurian-Ordovican sedimentary units of the Botwood Group. The Appalachian tectonic zone was affected by a number of orogenic events punctuated by the opening and closing of the lapetus Ocean. Deformation in the Silurian to Devonian, termed the Salinic Orogeny by Dunning et al, 1990, resulted in crustal thickening through imbricated thrust fault slices, regional greenschist and amphibolite grade metamorphism, and crustal melting resulting in widespread plutonism. Gold mineralization in the central mobile belt is thought to be related to this Orogeny, in the period from Ma, but remobilization of the gold mineralization may have continued into the Carboniferous (290Ma) when the youngest plutonic suites in Newfoundland were emplaced (Evans, 1996). To the north of the property, a body of Cambrian to Ordovician granitoids of the Twillingate Intrusive Complex intrudes the volcanic packages. Included is the Late Ordovician Coaker Porphyry (Kerr, 1997). North-northwest and east-northeast gabbro dyke, 1 to 10 meters wide occur within the region. Nearby granite intrusions on the peninsula between Indian Arm and Loon Bay are of Mid-Paleozoic age. 6:0 LOCAL GEOLOGY The claim area covers an area within the Botwood group made up of Lower-Silurian siliciclastics and conglomerates of the Goldson Formation in central and eastern portions. The conglomerates are typically white weathering with clast size of 1 to 3 cm and are well rounded. No stretching of the pebbles occurs. A band of Middle Ordovician mafic volcanics made up of pillow basalts and volcanic breccia flows occurs in the southwest portion of the properties. To the west, the mafic volcanics overlay a sequence of Late Ordovician shales and slates, pyritic mudstones (Zurowski, 1973), finely bedded tuffs, local chert and greywacke of the Dark Hole formation. The pyroxenite gabbro intrusive to the North of the property is made up of coarse grained pyroxene crystals up to I cm in size with 1-5% disseminated pyrrhotite. Local diabase dykes were mapped as being parallel the north-northeast trending lithological structures. page 4

9 7:0 EXPLORATION 2009 Logging roads and skidder trails within licence M made the area accessible, however with the regeneration of the cutovers with birch and alders it was difficult to discover new outcrop. A total of 6 man days were spend prospecting within licence M and 11 samples were collected. Two samples collected from the northeast corner of the property were anomalous in Au. with values of 38ppb and 102 ppb. All other samples returned background levels, no samples were collected from the Treasure Showing. Page 5

10 8:0 REFERENCES Evans, D.T.W. (1996): Epigenetic gold occurrences, eastern and central Dunnage Zone, Newfoundland, Government of Newfoundland and Labrador, Department of Mines and Energy, Geological Survey Branch, Mineral Resource Report 9, 135 Pp Kranck, E H (1952): Geology of the New Bay-Loon Bay-Lewisporte areas and of the southeast part of New World Island, Notre Dame Bay. Unpublished report [GSB# 002E/0060] Lang, R. and Thompson, A. (2003) - Linear, Island Pond and Other Candente Gold Properties, Newfoundland: Petrography and SEM Analysis of 60 Polished Thin Sections MacGillivary, G. (1989): First Year Assessment Report on the Project 7428, Brink's Pond Property, North Central Newfoundland, Claim Blocks 6101, 6102, 6103, Licence 3478, Unpublished report for Corona Corporation, 2E/2 (720). Mineral Occnrrence Data System (MODS), Newfonndland Government Web Site (2003): National Mineral Inventory Data, Record ill Number 2433, NMINOString=002E%2F02%2F As +00 f Murphy, F. (2002): Structural interpretation of Landsat ETM+ imagery for NorthCentral Newfoundland, Preliminary Report for Candente Resource Corp. Ref: R Murphy Geological Services. Zurowski, M (1975): Report on the exploration activities conducted during in the LewisporteBirchy Bay area, Newfoundland. International Mogul Mines Limited Unpublished report [GSB# 002E7/0339 and 331] Egmond Van, Robert (2002/2003): First Year Assessment Report by Candente Resource Corporation (Compilation, prospecting, stream sediment geochemistry, satellite imagery interpretation, petrographic work and reconnaissance geological mapping.) license 8911M and 8936M. Title: First year assessment report on prospecting and geochemical exploration for licences 11353M11355M on claims in the Brinks Pond area, north-central Newfoundland Author(s): Keats, K Year: 2007 Company(s): Keats, S, Sr, Wade, D and ASK Prospecting and Guiding Incorporated Source: Newfoundland and Labrador Geological Survey, Assessment File 2E/1534, 2007, 19 pages. NTS: 2E/02, 2E/07 Title: First year assessment report on prospecting and geochemical exploration for licence 10500M on claims in the Brinks Pond area, north-central Newfoundland Author(s): Keats, K Year: 2006 Company(s): Keats, K Source: Newfoundland and Labrador Geological Survey, Assessment File 2E/02/1532, 2006, 23 pages. NTS: 2E/02 Title: First year assessment report on prospecting and geochemical exploration for licence 11352M on claims in the Brinks Pond area, north-central Newfoundland Author(s): Keats, K Year: 2006 page 6

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14 APPENDEX I STATEMENT OF EXPENDITURES LICENCE M Prospecting 6 man days Analytical cost plus shipping and transport per day 6 days Transportation $60.00 per day ATV@$40.00 per day Report writing one day $ $ $ $ $ $ Subtotal $ Administration 15% $ Total $ Excess expenditures to be applied to consecutive years. Personnel Mervin $ per day (6 man days) Respectfully, Mervin Quinlan, Oct, 2012

15 APPENDEX II SAMPLE DESCRIPTIONS License M Sample no. type description easting northing Au.ppb 1232 outcrop silicified sediment with py. and arsenopyrite outcrop same as float brecciated silicified sediment, l-5%py outcrop greywacke,quartz,py and arsenopyrite outcrop rusty brecciated sediment 3-9%py float carbonated q silicified greywacke arsenopyrite float met. Basalt with 5-10%py outcrop sediment with quartz stringer, trace py outcrop fine grained siltstone with pyrite float brecciated volcanic with pyrite outcrop carb.q oxided greywacke with arsenopyrite

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