TECHNICAL REPORT ON THE PARKIN OFFSET PROPERTIES, SUDBURY, ONTARIO. For WALLBRIDGE MINING COMPANY LIMITED. By JOSHUA BAILEY, M.Sc., P.Geo.

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1 TECHNICAL REPORT ON THE PARKIN OFFSET PROPERTIES, SUDBURY, ONTARIO For WALLBRIDGE MINING COMPANY LIMITED By JOSHUA BAILEY, M.Sc., P.Geo. Effective Date: DECEMBER 31 st, 2012

2 Table of Contents 1 SUMMARY INTRODUCTION RELIANCE ON OTHER EXPERTS PROPERTY DESCRIPTION AND LOCATION PROPERTY DESCRIPTION IMPLATS/WALLBRIDGE JOINT VENTURE UNDERLYING INTERESTS MILNET PROPERTY XSTRATA PARKIN PROPERTY CHAMPION BEAR PARKIN PROPERTIES ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY HISTORY MILNET PROPERTY HISTORICAL WORK WORK BY WALLBRIDGE WALLBRIDGE XSTRATA PARKIN PROPERTY HISTORICAL WORK WORK BY WALLBRIDGE WALLBRIDGE CHAMPION BEAR PROPERTY HISTORICAL WORK South Block North Block WALLBRIDGE WORK HISTORY GEOLOGICAL SETTING AND MINERALIZATION SUDBURY GEOLOGY PROPERTY GEOLOGY MINERALIZATION DEPOSIT TYPES EXPLORATION i

3 10 DRILLING WALLBRIDGE MILNET PROPERTY MILNET GEOPHYSICS PARKIN XSTRATA PROPERTY WALLBRIDGE CHAMPION BEAR PARKIN JOINT VENTURE PROPERTY SAMPLE PREPARATION, ANALYSES, AND SECURITY DATA VERIFICATION MINERAL PROCESSING AND METALLURGICAL TESTING MINERAL RESOURCE ESTIMATES ADJACENT PROPERTIES OTHER RELEVANT DATA AND INFORMATION INTERPRETATION AND CONCLUSIONS WALLBRIDGE MILNET PROPERTY THE MILNET 1500 ZONE BRADY SHOWING AREA, CHAMPION BEAR SOUTH BLOCK PARKIN XSTRATA PROPERTY CHAMPION BEAR NORTH BLOCK RECOMMENDATIONS REFERENCES DATE AND SIGNATURE PAGE CERTIFICATES OF QUALIFIED PERSONS ii

4 LIST OF FIGURES Figure 1: Property Map Figure 2: Sudbury Igneous Complex and Offset Dykes Figure 3: Geological map of the southern portion of the POJV Figure 4: Schematic model of the Worthington Offset (Lightfoot and Farrow, 2002) Figure 5: Plan view of WMM-018-W4, QD dyke projection and BHEM plates Figure 6: Section view of WMM-018-W4, QD dyke projections and BHEM plates Figure 7: Longitudinal section with 100m BHEM tubes, BHEM plates, the interpreted Parkin Fault and target areas Figure 8. Longitudinal view showing drilling pierce points through the Parkin Offset dyke, BHEM plates, and target areas Figure 9: Perspective diagram showing the Milnet area with drilling targets Figure 10: Compilation Brady Showing Area Figure 11: Xstrata Parkin Property LIST OF TABLES Table 1: Parcel status for the Parkin Properties Table 2: Milnet Mine Historical Metal Recovery (Dunks, 1986) Table 3: Significant Intersections from Northbridge Drilling Table 4: Results of Falconbridge Chip Samples (Parkin Property) Table 5: Parkin Surface Sample Assays Table 6: Summary of Significant Drill Intersections by Champion Bear Table 7: Drill Holes Table 8: Mineral Resources On The Parkin Property WGM Estimate Table 9: Recommended program iii

5 Introduction 1 SUMMARY The Parkin Offset properties are located in the Sudbury Mining District, in the northeast corner of the Sudbury structure, Ontario. The Property is being explored for copper, platinum group metals, nickel and gold by a joint venture between Wallbridge Mining Company Limited (Wallbridge) and Impala Platinum Holdings Limited ( Impala ). This report was prepared for Wallbridge to summarize the results of exploration on the Property to December 31 st, 2012, and to make recommendations for further work. Property Description and Location The Property includes three land packages in Parkin and Norman Townships within the City of Greater Sudbury, Ontario, Canada: 1. Wallbridge's Milnet property; 2. Wallbridge's Xstrata Parkin property; and 3. Wallbridge's Champion Bear Parkin properties. As of December 31 st, 2012, these included 45 mining claims, 12 mining leases and 4 patents covering 1,480 hectares. The Property is the subject of the Option and Joint Venture Agreement between Wallbridge and Implats dated August 19, 2008, which was amended September 28 th, 2008 and April 2 nd, Implats has completed the $6,200,000 expenditures required for it to earn a 50% in the Property. The decision to vest is pending. Upon vesting, Implats may earn an additional 15% by funding a Feasibility Study. Wallbridge may request Implats fund its portion of development funding through to commercial production on a loan basis. 4

6 Geologic Setting The Property is underlain 9.5 kilometres of the Parkin Offset dyke on the northeast corner of the Sudbury basin. The southern part of the dyke intrudes mafic and felsic metavolcanic rocks of the Archean Parkin Greenstone Belt. The northern part of the dyke intrudes Early Proterozoic Huronian marble, quartzite and conglomerate unconformably overlying the Archean basement. The Parkin quartz diorite offset dyke, interpreted to represent the faulted extension of the Whistle offset dyke Mineralization Mineralization includes zones of massive to stringer/disseminated zones of pyrrhotite, chalcopyrite, pyrite and pentlandite: 1. The historic Milnet Mine, reports past production of 157,130 tons averaging 2.25 g/t platinum, 2.98 g/t palladium, 0.93 g/t gold, 1.49 % nickel and 1.54 % copper (Meyn, 1970). At the time of production, orebodies #1 and #2 were mined to a depth of approximately 150m. 2. Drilling by the Joint Venture beneath the Milnet Mine discovered the Milnet 1500 zone in 2009, intersecting metres (1, , m) containing 8.00g/t TPM, 2.57% copper and 0.78% nickel. More recent drilling intersected 8.0 metres (1,473-1,481m) grading 4.32g/t TPM, 4.11% nickel, and 0.60% copper and in another hole metres ( m) containing 1.85 g/t TPM, 0.33 % nickel and 0.73 % copper. Modelling of mineralised intersections and borehole electromagnetic geophysics indicates that the Milnet 1500 Zone is a minimum of 400 metres by metres with unknown true width and open in four directions. The full extent of the zone is not known and most of the dyke in the area has not been tested by drilling 3. The Parkin Resource (Section 14) on the Xstrata Parkin property includes an Indicated Resource of 264,000 tonnes averaging 0.70 % Cu, 0.65 % Ni, 0.03 % Co, 0.62 g/t Pt, 0.80 g/t Pd, 0.23 g/t Au, and 6.3 g/t Ag (Soever, 2002). The 5

7 mineralized zones from South to North are: (1) 750 South Zone, (2) South Zone, (3) South Zone Extension, (4) North Zone and (5) 025 South Zone. These 5 zones occur along a strike length of ~750m and are less than 200m from surface. 4. A channel sample from the Brady Showing on the Champion Bear South Block returned 11.2% Cu, 0.6% Ni, 9.2g/t Pt, 4.3g/t Pd and 1.6g/t Au over 2.70 metres at surface. Anomalous gold values have also been intercepted on the Champion Bear south block, and include 44g/t Au over 1.4m ( m in WCB-006). Deposit Types The Property is located on the Parkin Offset Dyke and is being explored for Offset dyke type deposits. Offset dykes account for approximately one quarter of Sudbury s metal endowment. The conceptual Offset deposit exploration target includes 5 to 10 million tonnes containing 1-3 g/t platinum, 1-3 g/t palladium, 1-3 % copper, g/t gold, and 1-3 % nickel. This represents a body that is metres in strike length, metres in thickness and has many 100 s of metres of plunge extent. This target is conceptual in nature and there has been insufficient work on the property to determine whether a deposit of this size and grade exists. Drilling Diamond drilling in 2012 was carried out by Jacob and Samuel Drilling Ltd. of Sudbury, using a VD5000 drill rig. Drilling was completed on the Milnet property and consisted of 2 new parent holes and 4 wedge cuts. Wedge cuts W3 and W4 required use of NAVI directional drilling. In total, Wallbridge has completed 171 drill holes and wedge-cuts totalling 56,306 metres. 6

8 Mineral Resource Estimates The Parkin offset, on the Milnet property, hosts the historical Milnet Mine; production from the Mine has been reported as 157, % Ni, 1.54% Cu, 2.26g/t Pt and 2.98g/t Pd (Meyn, 1970). A resource estimate of the mineralization on the Parkin portion of the property was estimated by Watts, Griffis & McOuat Limited (WGM) in An Indicated Resource of 264,000 tonnes grading 0.70% Cu, 0.65% Ni, 0.62g/t Pt, 0.80g/t Pd and 0.23 g/t Au, and an Inferred Resource of approximately 87,000 tonnes grading 0.7% Cu, 0.4% Ni, 1.2g/t Pt, 1.1g/t Pd and 0.6g/t Au were defined. Interpretation and Conclusions In terms of metal endowment, infrastructure, community support and regulatory stability, Sudbury is the most attractive place in the world to explore for and develop large-scale copper, nickel and PGE mining projects. Despite over 125 years of mining in the Sudbury area, very large and high grade deposits continue to be discovered. The Parkin Offset Joint Venture covers 9.5kms of the Parkin Offset Dyke in Sudbury. Offset dykes are a primary ore hosting environment in the Sudbury basin, accounting for about one quarter of Sudbury s total mineral inventory. They are compelling exploration targets. Past production records from the Milnet Mine, the recent discovery of the Milnet 1500 Zone, the Parkin resource, and the Brady Showing (all discussed in previous sections) demonstrate that the Parkin Offset dyke is mineralized and has the potential for significant grades of PGEs along with copper, nickel and gold. Work to date includes reconnaissance scale drilling and borehole geophysics over large parts of the dyke with more detailed drilling and geophysics in several areas. This work was successful in discovering and extending the Milnet 1500 Zone, below the historical Milnet Mine, as well as down dip extensions of the South Zone Extension and 25 North Zone on the Parkin Xstrata property. The most recent 2011 program on the Champion 7

9 Bear North Block greatly increased our understanding of the northern bend in this dyke, an area that warrants significant further work. Additional drilling has the potential to expand the Milnet 1500 Zone to shallower depths, both up-dip along the western contact (Target 1) and up-plunge to the south (Target 2) (Figure 7). There is also potential to expand the mineral resource on the Xstrata Parkin property to depth (Targets 3 and 4 on Figure 7). Finally, large favourable parts of the Parkin Offset dyke have simply not been tested and pose numerous relatively shallow exploration targets. Recommendations Significant further work is recommended to fully explore the Properties potential for mineable nickel, copper and platinum group element mineralization. Currently, $5.0 M exploration including drilling and geophysics is recommended (Table 9), to include additional geological modelling, 5 drill holes and two wedge-cuts totalling 8,800 metres and 7,500 metres of contingency drilling is warranted. All drill hole collars should be surveyed with BHUTEM while the drill is still on site to ensure the holes are open. Drill hole collars and BHUTEM loops should be surveyed with sub-metre accuracy GPS and drill holes should be surveyed with north seeking Gyro. 8

10 2 INTRODUCTION The Parkin Offset properties (the Property ) are located in the Sudbury Mining District, in the northeast corner of the Sudbury structure, Ontario. The Property is being explored for platinum group metals, copper, nickel and gold by the Parkin Offset Joint Venture between Wallbridge Mining Company Limited ( Wallbridge ) and Impala Platinum Holdings Limited ( Impala ). This report was prepared for Wallbridge to summarize the results of exploration on the Property to December 31 st, 2012, and to make recommendations for further work. The report is based on work carried out by the author and by Wallbridge personnel and contractors under the direct supervision of the author. The author has made numerous site visits to the Property. A complete list of reference material reviewed is provided at the end of this report. This report has been prepared in compliance with the requirements of National Instrument and Form F1. Joshua Bailey, M.Sc., P.Geo, Vice President Exploration for Wallbridge Mining Company Limited, is the author and Qualified Person responsible for the technical content of this report. Metric units are used throughout this report unless otherwise specified. Assay and analytical results are quoted in grams per tonne (g/t), parts per million (ppm), parts per billion (ppb) or weight percent (%). 1 g/t is equivalent to 1 ppm and 1000 ppb; 10,000 g/t is equivalent to 1%. Total precious metals (TPM) are the sum of platinum, palladium and gold values returned for a sample. All dollar amounts are expressed in Canadian funds. 9

11 3 RELIANCE ON OTHER EXPERTS Third party contractors performed geophysical and analytical work for Wallbridge on the Property in Although Wallbridge has made every reasonable effort to ensure data quality, it cannot absolutely guarantee the data integrity. Based on its review of third party data, Wallbridge has no reason to believe that any significant errors exist in the data. 4 PROPERTY DESCRIPTION AND LOCATION 4.1 PROPERTY DESCRIPTION The Property includes three land packages in Parkin and Norman Townships within the City of Greater Sudbury, Ontario, Canada: Wallbridge's Milnet property; Wallbridge's Xstrata Parkin property; and Wallbridge's Champion Bear Parkin properties. As of December 31 st, 2012, these included 45 mining claims, 12 mining leases and 4 patents covering 1,480 hectares (Figure 1). A complete listing of the parcels is provided in Table IMPLATS/WALLBRIDGE JOINT VENTURE The Property is the subject of the Option and Joint Venture Agreement ( the Agreement ) between Wallbridge and Implats dated August 19, 2008, which was amended September 28 th, 2008 and April 2 nd, In 2011, Implats completed the $6,200,000 expenditures required to earn a 50% interest in the Property. Implats may earn an additional 15% by funding a Feasibility Study. Wallbridge may request Implats fund its portion of development funding through to commercial production on a loan basis. 10

12 Figure 1: Property Map. 11

13 Table 1: Parcel status for the Parkin Properties. 12

14 13

15 4.3 UNDERLYING INTERESTS Each of the Milnet, Xstrata Parkin, and Champion Bear Parkin properties is subject to certain underlying interests and agreements MILNET PROPERTY The Milnet claims were acquired in February 2000 when Wallbridge entered into two separate option agreements to acquire the Milnet surface and mining rights from Mr. J. Richardson and Ike Burns Metal Inc. The Richardson agreement involved the surface and mining rights for three patented parcels. Wallbridge purchased the Richardson leases in three annual payments of $10,000 from February 15, 2000 to The transfer of title occurred in the summer of 2003 and Wallbridge is now recorded as the current holder. The second agreement, known as the Ike Burns Metal Inc. Option, involved five leases. The agreement granted Wallbridge the right to purchase the leases on or before January 26, 2005 upon annual cash payments of $10,000 (year 1), $20,000 (years 2, 3 and 4), and $30,000 (year 5) and a 1.5% NSR. Purchase of the property occurred at the time of the final $30,000 payment on January 26, The leases are in good standing and are 100% held in the name of Wallbridge Mining Company XSTRATA PARKIN PROPERTY Xstrata Nickel holds a 1.5% net smelt return ( NSR ) royalty on the Xstrata Parkin claims which increases to 5% if ore is processed at a non-xstrata treatment facility. Xstrata Nickel also holds buy back provisions on the Xstrata Parkin claims as follows: 1. If a Feasibility Study defines a deposit with proven and probable reserves plus measured and indicated mineral resources containing greater than $750,000,000 of contained metal value, then Xstrata may increase its interest to 60% by incurring 200% of Wallbridge s total Expenditures incurred after January 1 st, If Xstrata exercises its option to acquire a 60% interest in the Wallbridge 14

16 Xstrata Parkin properties in circumstances wherein Implats would otherwise have earned a 65% interest in the properties, the resulting Joint Venture Interests in the Xstrata Parkin Properties would be as follows: Xstrata 60% Implats 30% Wallbridge 10% 2. Xstrata also has a one-time option to earn a 50% interest in the Xstrata Parkin Properties if Commercial Production from the properties is not achieved by January 1, 2016, by funding work on the Property until it incurs 200% of Wallbridge's total Expenditures incurred after January 1 st, If Xstrata exercises this one time option in circumstances wherein Implats would but for such an event have earned a 65% interest in the properties, the resulting Joint Venture Interests in the Xstrata Parkin Properties would be as follows: Xstrata 50% Implats 32.5% Wallbridge 17.5% Xstrata also retains the right to process nickel ores from the Xstrata Parkin properties at fair rates that take into account the cost structure and efficiencies of the designated facilities. For ores in which less than 33% of the contained metal value is contributed by nickel Wallbridge shall have the right to seek competitive bids for the processing of the ore, or to investigate the feasibility of partially or entirely processing the material itself. Xstrata retains the right of first refusal to process non-nickel ores by matching the terms available to Wallbridge CHAMPION BEAR PARKIN PROPERTIES Pursuant to an agreement between John Brady and Champion Bear dated September 30, 1998, and amended December 20, 1999 and August 2, 2000 (the "Parkin Agreement"), Champion Bear acquired a 100% interest in the Parkin Property in consideration for the issuance of 108,000 Common Shares. The Parkin Agreement provides that the claims are 15

17 subject to a 2.5% NSR royalty, 60% of which may be acquired by Champion Bear for $1.5 million at any time until the claims have been put into production. Pursuant to the Parkin Agreement an advance royalty of $6,000 is payable on March 30 th and September 30 th in each year that the claims have not been put into production or have not been returned to John Brady; the advance royalty payments are deductible from future NSR royalty payments. Pursuant to an option and joint venture agreement dated April 10, 2008, and amended June 8, 2009, Wallbridge acquired a 50% interest in the Champion Bear Resources Ltd. ( Champion Bear ) Parkin Properties (North and South Blocks) by making a $100,000 cash payment to Champion Bear, issuing Champion Bear 263,158 common shares of Wallbridge and incurring exploration expenditures on the Champion Bear Parkin Properties in the amount of $2,000,000 before August 19, Champion Bear may from time to time request Wallbridge fund it s pro rata share of Expenditures on a project loan basis. Minimum annual Programs of $250,000 are required on the Champion Bear properties in order for Wallbridge to maintain Operator status. Wallbridge may earn an additional 25% interest in the Champion Bear Parkin Properties by completing at its cost a Definitive Feasibility Study on a deposit. Implats may initially vest a 50% interest in the Champion Bear Parkin Properties, which will increase to 65% upon completion of a Feasibility Study, resulting in the following Joint Venture interests: Implats 65% Champion Bear 25% Wallbridge 10% 16

18 5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY Access to the property is by Regional Road 80 for a distance of 18.3km north from Sudbury to the town of Val Therese. From there one continues easterly for a distance of 6.7km along Regional Road 80 to the junction with Regional Road 84. One then follows Regional Road 84 north for a distance of about 7km to the Town of Capreol. From Capreol one proceeds northeast along all-weather gravel roads past KGHM International s Podolsky Mine and Vale s past producing Whistle Mine. A major northsouth logging road crosses the centre of the Property immediately west of Malbeuf Lake. The area has a moderate continental climate and temperatures average 24.8 C in summer and 8.4 C in winter. Annual precipitation averages 62.2cm of rain and 247.5cm of snow. Exploration work can be carried out year round. The Regional Municipality of Sudbury is a major centre in Northeastern Ontario with a population of about 160,000. Mining in Sudbury has been active for over 125 years. As home to both Vale (INCO) and Xstrata (Falconbridge), the Sudbury area is the western world's largest producer of nickel and the location of the largest fully integrated mining complex in the world. Over 300 companies involved in mining related activities offer expertise covering all areas of exploration, mining and environmental rehabilitation. There is currently an excess of milling and smelting capacity in the Sudbury area. As such, a ready market exists for products from any operation resulting from a discovery in Sudbury. There are also ample supplies of both water and power to support any future mining operation. The Parkin Offset Properties are located within the Canadian Shield. The topography is typical of this part of the Canadian Shield with subdued relief and an average elevation of about 150 metres above sea level. Total relief on the property is about 30m, with local relief limited to 5 to 10m. 17

19 During Pleistocene glacial erosion and deposition, the drainage pattern became disrupted and there are numerous small lakes and ponds. The terrain is characterized by rocky hills which alternate with depressions filled with glacial deposits and swampy ground with approximately 20% lakes, rivers and swamps. Bedrock exposure is estimated at less than 10%. Overburden has been reported to range from 0 to 17 metres thick in the project area with thicker overburden generally occurring in linear troughs. Drainage is typically from the northwest to the southeast as shown by the Roberts and Vermillion Rivers and Mowat and Parkin Creeks. This trend seems to be a reflection of the regional strike of the rock units and in the case of the Vermillion River and Mowat Creek, the reflection of fault structures. 6 HISTORY The earliest government geological mapping reported for the area was carried out by R. Bell ( ) as part of his examination of the Sudbury region. Later in the 1930s, L.F. Kindle mapped the current Hutton and Parkin Townships and parts of Roberts and Botha Townships. Other government work tended to focus on determining the uranium or placer gold potential for the area. The Ontario Department of Mines produced a preliminary map and Geological Report 80 covering Hutton and Parkin Township (Meyn 1970) entitled "Geology of Hutton and Parkin Townships". The Geophysics Division of the Geological Survey of Canada conducted an airborne magnetometer survey from June 1959 to October 1960 and produced Milnet Map 1512G that covers the property area. The Ministry of Northern Mines and Development Assessment files record exploration activity in the area since the 1890 s. Early prospecting along the Vermillion River identified small quantities of placer gold in Hutton Township. Quantities of gold from this area proved to be too meagre to support commercial exploitation, but it did encourage additional prospecting in the area. The earliest mining activity was concentrated in the Moose Mountain Iron range, a belt of silicate/magnetite facies banded iron formation located in central Hutton Township. The Moose Mountain Mine produced iron pellets between 1908 and 1924 and again from (Meyn, 1970). 18

20 6.1 MILNET PROPERTY HISTORICAL WORK Geophysical surveys over the Milnet property in Parkin Township date back to at least In 1948, Jonsmith Gold Mines Ltd. completed a ground magnetometer dip-angle survey over most of the property. The grid was oriented at approximately 315, with lines spaced every 200 feet. Readings were measured every 100 feet, and in some cases more closely spaced readings were recorded. This survey appears to have been done with a reasonable amount care and attention to detail with respect to data quality and locations. The results were contoured and displayed a complex magnetic pattern with numerous anomalous magnetic highs generally oriented in NW strike direction. Correlation between the known mineralization and the anomalies was demonstrated in the No. 1 orebody, which is associated with a well-defined, persistent, low positive intensity anomaly that extends for a length of 900 feet (274.32m). It is possible that this data could be digitized and georeferenced to the Milnet Property UTM coordinate system. The earliest recorded work on what was to become the Milnet Mine dates from 1947 and included surface sampling, trenching and 13 diamond drill holes totalling 1,680 feet (512.06m) by Jonsmith Gold Mines Ltd ("Jonsmith") (later underwent name changed to Jonsmith Mines Limited). This work identified two mineralized zones and clearly showed the property had impressive PGE values within the targeted nickel-copper sulfides. One drill hole intersected a 24.2-foot section that assayed 1.42% Ni, 1.44% Cu, and 0.12 oz/ton Pt (4.11g/t Pt). Later pre-production drilling, prior to 1952, returned some spectacular PGE results, including a 30-foot interval that assayed 0.62oz/ton Pt (21.26g/t Pt) in one of the subsequently mined out zones. Another drill hole assayed 0.12oz/ton Pt over feet (4.11g/t Pt over 37.19m). Significantly, the mine actually produced more palladium than platinum and also recovered rhodium and osmium, very high value associated metals. This diamond drilling defined two zones of mineralization including 172,697 tons grading 1.52% Ni and 2.1% Cu and 224,200 tons at 1.25% Ni and 1.98% Cu (Dunks, 1986). 19

21 Following this program, Jonsmith leased a block of ground that measured 1,000 x 500 x 500 feet surrounding the two mineralized zones in 1951 to Milnet Mines Limited ( Milnet Mines ). Milnet Mines sank a three-compartment shaft to a 477 foot depth and established mining levels at 190, 300, and 465 feet. Drifts and crosscuts on the three levels totalled 1,955.0 linear feet (595.88m). Production by shrinkage stope methods occurred from December 1952 to July According to government records, the Milnet mine produced 157,130 tons of mineralization grading 1.49% Ni, 1.54% Cu, 2.26g/t Pt, 2.98g/t Pd (Meyn, 1970). A 1954 Jonsmith company document cited shipping 157, dry tons of the same grades. Mine feed was sent to Falconbridge for processing. According to Dunks (1986), the historical production records indicated the following metal recovery: Table 2: Milnet Mine Historical Metal Recovery (Dunks, 1986). Ni (%) Cu (%) Au (oz/t) Pt (oz/t) Pd (oz/t) Ir,Rh,Ru (oz/t) Assayed Recovered %Recovery At the time, these recoveries were considered lower than average and may have been related to the higher sulphur content of the ore caused by a greater pyrite and pyrrhotite to pentlandite ratio than was typical of Sudbury ores. Subsequent to this mining period, the property reverted back to Jonsmith who purchased the surface and underground plant and equipment from Milnet Mines. Jonsmith conducted a major surface and underground exploration program between , including 193 underground holes totalling 74,511 feet (22,710.95m) and 100 surface drill holes totalling 42,793 feet (13,043.31m). The majority of this drilling was to test the down dip extension of the two mined out zones. Additional cross-cutting and lateral drifting to establish diamond drilling platforms was done on the 300 and 465 levels. 20

22 This program resulted in the discovery of a small mineralized zone lying northeast of the #1 Zone between the 300 and 465-foot levels. It is adjacent to one of the mined-out orebodies but this mineralization was below the shipping grade at that time (less than 2% combined copper-nickel). Records also show that a few deeper drill holes encountered some high-grade nickel mineralization (e.g., 10% Ni over one foot) at vertical depths between 1450 to 1500 feet down dip of the #2 Zone. No further work was completed by Jonsmith on the Milnet Mine property after 1956 and the mine was allowed to flood, the shaft was capped, and the surface buildings and plant were removed. Company correspondence indicates that Jonsmith held discussions with Falconbridge regarding the property in the mid-1970s. Falconbridge appears to have reviewed the property data and plotted all drill holes on 1":40 scale cross and longitudinal sections. According to the conclusions of G.H. Cluff's Property Submission Description to Falconbridge (1975) it was decided that, "the property appears to have little merit". His reasoning was apparently based upon the lack of economic intersections obtained during Jonsmith's underground drilling program and the premise that North Range Offset mineralization tended to be small tonnage, high grade operations, with limited lateral and depth extensions. Although, he does allow, "sulfide potential may exist at depth". In June 1976, Ike Burns staked 22 claims in Parkin Township including the Milnet Mine property. In 1978 Ike Burns Exploration Corp. contracted to have an airborne magnetometer survey completed over the property. The survey was flown on north-south oriented lines at approximately 100m line-spacing. Flight lines passing over the Milnet Mine reportedly resulted in increases of 300 to 600 gammas. Similar increases were noted along lines that occur in the current leases that have legal descriptions of: S647602, S647603, and S Results of this survey as shown by contour maps and flight record profiles do not appear to add significant new anomalies to those outlined by previous ground magnetic surveys over the property. The maps and reporting of this survey were not of a high or modern standard. In 1986, L.T. Dunks Associates were 21

23 contracted to complete a feasibility study on the Isaac Burns Metals Inc. Property. It concluded that rehabilitation and dewatering costs would amount to $650,000 (not including capital costs of equipment). He concluded that insufficient tonnage was outlined underground to cover the cost of the rehabilitation but that the geology of the area was of considerable interest and suggested a systematic deep hole drilling program along the strike of the dyke followed by borehole geophysical surveying. BP Resources Canada Ltd. ("BPRC") optioned the claims covering the Parkin Offset Dyke and Milnet Mine in the late 1980s. The property, known as V-73, was located in the SE quadrant of Parkin Township and covered the Milnet Mine including 14 claims and five leased claims (S to S647605). The company reviewed the available mine data, collected surface and waste samples, conducted IP surveys across the length of the dyke, and completed diamond drilling. Six samples taken from the waste reported assays up to 11% Cu+Ni and up to 5g/t TPM. BPRC collected 102 surface samples along the offset dyke with one sample (4239) assaying 0.71% Ni, 16.08% Cu, 36.69g/t Pd, 1.225g/t Pt and 7.784g/t Au. In general, the highest values area came from outcrop near the mine workings. It is reported that BP Resources Canada Ltd. (internal report) carried out IP surveys in the late 1980 s and mapped untested anomalies south of the mine workings. The data and maps for the IP surveys are not available at this time. In May to June 1989, BPRC completed 16 diamond drill holes totalling 3,645m. The holes tested a 1.0km portion of the Parkin Offset dyke for disseminated and massive sulfide mineralization. Drilling was completed by Advance Diamond Drilling Ltd. using BQ core size and downhole surveying was generally a combination of tropari at approximately 150m intervals and/or acid tests at approximately 60m intervals. In 1990, Wallbridge understands that additional work was carried out by BPRC including: three drill holes, V to 03, totalling 1,093.3m. 133 core samples were assayed, and seven holes (73-1, 73-11, to 16, and 03) were surveyed using Crone s borehole PEM method. This information was obtained from an internal note, but Wallbridge does not possess any of this data. Additional supporting information 22

24 verifying this work is three cased drill hole collars on the property that Wallbridge has not been able to identify WORK BY WALLBRIDGE Since 2000, Wallbridge has completed several geophysical surveys, some geological mapping and surface sampling, and diamond drilling on the property. A reconnaissance airborne geophysics survey was flown over the Milnet Property by Aeroquest Limited utilizing their AeroTEM helicopter borne time domain electromagnetic system. In May 2000, Canadian Driller Training was contracted to drill three surface BQ diamond drill holes totalling m. A total of 100 samples were assayed for the standard suite of elements and two samples from WMM-002 were analysed for ICP whole rock assay by lithium metaborate fusion at Swastika Laboratories. Acid tests were completed at approximately 30m intervals. Quartz diorite was intersected in all but hole WMM-001. In 2000, Crone Geophysics Ltd. was contracted to perform borehole electromagnetic surveys at the Milnet Property. Two holes; 73-1 and 73-16; were surveyed. These holes were drilled previously by BPRC. Drill hole was surveyed to a depth of 465m and no significant responses were observed. Drill hole 73-1 was surveyed to a depth of 366 metres and no anomalous responses were interpreted. Wallbridge geophysicist J. Rudd interpreted the results of both surveys. In addition, R. Murphy collected, sent for analysis and thin sectioned nine samples. Samples were assayed at Swastika Laboratories for the standard suite of elements minus Co (%). The samples were mostly located at 400 to 500m to the north or south of the shaft along the strike extension of the offset dyke. In 2000, Watts, Griffis and McOuat Limited ("WGM") compiled the historical surface and underground drilling data, including assays and geology, into a computerized 23

25 Gemcom database. The original Jonsmith level plans were utilized to determine collar co-ordinates. In 2001 a grid totalling 24.5km was established over the entire property with lines oriented at 090, a centre baseline azimuth of 360 and 50 metre line spacing. An audio-frequency magnetotelluric ("AMT") survey was conducted by Geosystem SRL in October and December of 2001 at 33 grid stations. The stations were spaced at approximately 200m intervals along 5 north-south oriented lines. The survey covered the extension of the Offset Dyke and surrounding mine workings on four claims from lines N to N. In the winter of 2001 Laamanen Construction fenced in the two mine openings on the east side of the shaft. In 2001, 25km of line cutting was completed. The grid was surveyed by transit in April 2000 by T. Johnson and R. Ingram approximately 200 metres north and south of the shaft and 400 metres east and west of the shaft. The outer fringes of the grid were not surveyed. In January of 2001, a 456 metre drill hole was drilled accidentally on Wallbridge ground by Champion Bear Resources at collar coordinates N, E (NAD 27). The hole ended in February, The hole was drilled by St. Lambert Drilling and was inclined at with an azimuth of The hole was logged by R. Murphy and encountered Quartz Diorite from m. Between January to March 2001, two BQ diamond drill holes, WMM-004 and WMM- 005, totalling 2,496.5m were carried out. Sparta Drilling completed WMM-004 and Heath and Sherwood Drilling drilled WMM-005. Thirty-eight samples were collected and analysed at Swastika Laboratories for the standard suite of elements. The downhole survey method used was reflex with data collected at approximately 30m intervals. 24

26 Quartz diorite associated with minor sulfide mineralization was intersected in both holes. Lamontagne Geophysics Ltd. completed downhole UTEM 4 surveys on the holes. Hole WMM-004 and WMM-005 was surveyed using transmitter Loop 3 or 7, which had approximate dimensions of 800m x 800m or 1,200m x 1,500m, respectively. Hole WMM-004 was surveyed to a depth of 1,240m. Borehole WMM-005 was surveyed to a depth of 490 metres in May WGM updated their Gemcom database in 2002 by converting the old mine grid coordinate system to UTM NAD 27, added Wallbridge drill holes WMM-001 to 005, incorporated the surface geophysical data into the 3D model, and completed any changes to the solids based on the inclusion of the new data. During July 2002, Geoserve Canada Inc. carried out a total field magnetic survey over the Milnet property grid totalling 24.5 kilometres covering L844+50N to L856+50N. Wallbridge began a surface mapping and sampling program in the summer of 2002 that continued in the summer of Geologist, Robert Levesque and assistants Nathan Glentworth and Hassan Waberi, spent three and a half weeks mapping at a scale of 1:2,500 in 2002 resulting in the discovery of two additional quartz diorite outcrops on the northwest sector of the property. A total of 54 samples were collected of which 38 samples were analysed at XRAL Laboratories for the standard suite of elements. Thin sections were produced for 48 of the samples. In addition, 22 samples (WAL3159 to 3180) were collected and analysed from the waste piles between the shaft and the E Base Line. No significant results from the waste pile sampling program were noted. Three weeks were spent mapping the Milnet Property in 2003 with 82 samples being collected of which 77 were assayed and 36 thin-sectioned. The property was re-mapped from June 19th, 2003 up to July 5th, 2003 to confirm the mapping done by Jonsmith Gold Mines Ltd in 1947 and to determine trench locations that would confirm the quartz diorite dyke continuity. A good correlation was confirmed between the mapping done by 25

27 Jonsmith and Wallbridge Mining, bearing in mind that much of the original outcrops from the late 40 s and early 50 s were overlain by sawdust and waste rock. A total of 16 trenches were dug, 11 on the west side of the shaft and 5 on the east side. 300 metres of dyke extension to the west of the Gautier Lumber Road and 200 metres of dyke extension to the east were revealed as a result of the extensive trenching program. Phase One exploration began on the Milnet Property early in the summer of The program began with detailed follow-up work on the two known outcrops of quartz diorite on the north-western part of the property. All 11 trenches with the exception of two intersected the dyke or anatexite with the dyke ranging in width from <0.5 to 20 metres. The main trend of the dyke was north-south to slightly meandering from to The dyke was described as non-magnetic, medium-grained quartz diorite with <1% blebby pyrrhotite and inclusions. The dyke was found adjacent to a unit of anatexite which was primarily composed of fragments of amphibolite, gabbro, metasediments and quartz diorite. In some sections of the anatexite there was up to 15-20% quartz diorite fragments. The quartz diorite trend seems to have been cut off or takes a drastic swing to the east at the furthest trench to the south on the west side of the property. Metasediment was found to the west and south of the trenching with marble to the east and north. Phase Two of the Milnet 2003 program included detailed follow up work tracing the quartz diorite on the east side of our property, to the south of the mine workings. Five trenches were dug to expose the quartz diorite trend and all five encountered dyke. The dyke was medium grained, non-magnetic and inclusion-bearing (~5-10%) with about 2-5% blebby pyrrhotite and about 1% chalcopyrite and 1% pyrite. Inclusions were primarily amphibolite, gabbro and to a lesser degree metasediments. The last trench was dug along an east-west orientation on the south side of the main quarry road and encountered approximately 10 feet of gravel and sand. This was the southernmost location for trenching as the overburden thickness increased dramatically toward an area of widespread bogs. The quartz diorite dyke ranged in width from 5 metres in the north to 45 metres in the south and was hosted by metasediments and marble in all directions. 26

28 In addition to the mapping, four drill holes, WMM-006 to WMM-009, totalling 2,181 metres, were drilled by Bradley Bros Ltd. from mid-july to mid-august 2003 to intersect the quartz diorite dyke on the southeastern portion of the property. All four drill holes intersected the quartz diorite dyke. The only hole that showed any significantly anomalous values was hole WMM-008 (0.37g/t Au; 0.824g/t Pt; g/t Pd; 0.833% Cu and 0.437% Ni over 1.53m). The quartz diorite in the holes contained ~1% or less blebby pyrrhotite, up to 2% pyrite and locally 1-2% fracture filling chalcopyrite. Lamontagne Geophysics Ltd. completed borehole electromagnetic ( BHUTEM ) surveys in holes WMM-07 and V in August The results of the borehole EM surveys were interpreted and reported on by J. Rudd. A 3D model of the mine section of the dyke was prepared using Gemcom mining software. In 2008 Wallbridge Mining drilled four new diamond drill holes totalling 4,112 metres with follow up BHUTEM surveys in three of the holes. Two RIM panels utilizing boreholes WMM-005 to WMM-010 and WMM-010 to WMM-011 were surveyed. A detailed report of the 2008 work program titled 2008 Report on the Parkin Offset Properties Sudbury, Ontario has been filed on SEDAR (Croteau, 2008). In 2009 Wallbridge Mining drilled an additional 4,714 metres of diamond drilling consisting of one new hole, three wedge cuts and the deepening of one hole with follow up BHUTEM including one hole from the 2008 program. One RIM survey was also completed utilizing boreholes WMM-011 and WMM-012. A detailed report of the 2009 work program titled 2009 Report on the Parkin Offset Properties Sudbury, Ontario has been filed on SEDAR (Croteau, 2009). In 2010, 2,697 metres of diamond drilling were carried out along with BHUTEM surveys. A detailed report of the 2010 work program titled 2010 Report on the Parkin Offset Properties Sudbury, Ontario has been filed on SEDAR (Croteau, 2010). 27

29 In 2011, 2,437m of diamond drilling were completed, as well as BHUTEM and RIM surveys and surface excavating. A detailed report of the 2011 work program titled Technical Report on the Parkin Offset Properties, Sudbury, Ontario has been filed on SEDAR (Bailey, 2011). 6.2 WALLBRIDGE XSTRATA PARKIN PROPERTY HISTORICAL WORK In 1934, Falconbridge acquired four claims straddling the township line between Parkin and Norman Townships, to cover some minor copper-nickel showings. A short drill hole directly under the main showing cut almost barren quartz diorite, and work on the property was suspended. Interest in the area was reignited by the discovery of the Milnet (Jonsmith) deposit about 1.5km to the northeast in the late 1940s. Additional ground was acquired and geologic mapping, magnetometer and EM surveys were carried out in From 1952 to 1953, Northbridge Mines Ltd., a wholly owned subsidiary of Falconbridge, drilled 35 diamond drill holes totalling 1,878m which tested the area of the surface showings to a maximum depth of 80m. No analyses for Pt, Pd, Au or Ag were completed on this core. The drilling defined two zones of sub-economic mineralization within the 700m strike length drilled. The southern zone (Northbridge Zone 1, now known as the South Zone) has a 250m strike length and is separated from the northern zone (Northbridge Zone 2, now known as the North Zone) by a gap of about 250m, which was not tested by drilling. Some of the more significant intersections are tabulated in Table 3. 28

30 Table 3: Significant Intersections from Northbridge Drilling. Hole # Core Length (m) Ni (%) Cu (%) Depth from surface (m) P P P P P P P P P In 1959, the claims were transferred back to Falconbridge. In 1990, Falconbridge cut 38.9 line-km of grid at 100m line spacing, and carried out EM-37, magnetometer surveys and geologic mapping. Five areas covering approximately 4,500m 2 were stripped, mapped at 1:200 scale and chip sampled across the mineralized zones. Mineralization is described as pods of massive pyrrhotite and chalcopyrite from 0.5 to 10m in diameter hosted in larger zones of more disseminated mineralization oriented subparallel to the dyke. The mineralization is interpreted to be a nearly continuous over a strike length of 250m and at widths of up to about 10m. Chip samples were collected across the mineralized zone in the trenches. The sampling as depicted on the trench maps does not extend across the entire mineralized zone so the widths do not represent the full width of the zone. Results of chip sampling from the trench areas are shown in Table 4. Three diamond drill holes totalling 1,059m were completed, and surveyed with a downhole pulse EM system. Diamond drill holes P-56 and P-57 targeted an EM-37 anomaly about 200m north of North Zone. Both holes intersected up to 4% pyrrhotite, pyrite, and chalcopyrite in quartz diorite. The cause of the anomaly was not explained. Off-hole anomalies were detected by the downhole Pulse EM survey in both holes; indicating a to the northwest. 29

31 Table 4: Results of Falconbridge Chip Samples (Parkin Property). Trench Northing (m) Average Width (m) Ni (%) Cu (%) Co (%) Pt (g/t) T Not sampled Pd (g/t) Au (g/t) Ag (g/t) T S 6.4 (1) T S Not sampled T S 7.4 (2) T S (1) average of 4 series of chips (2) average of 3 series of chips Drill hole P-58, tested South Zone at depth. The hole intersected 1.02% Ni, 1.90% Cu, 2.18g/t Pt, 1.55g/t Pd, 1.14g/t Au and 18.47g/t Ag over 1.65m (1.20m true width) at a vertical depth of 258m. In 1993 and 1994, UTEM surveys were carried out on the northern part of the property. In 1998, Falconbridge drilled three holes totalling 2,563m. These holes were drilled on widely spaced sections. All three holes intersected the quartz diorite dyke (between 45 and 77m true thickness); however, no significant mineralization was intersected. Down-hole pulse EM surveys were carried out in the holes but failed to detect any significant EM anomalies. AMT surveying was considered for the next stage of work to determine if there is potential for drill targets between 1,000 and 2,000m depth WORK BY WALLBRIDGE As part of initial assessment of the exploration potential of the property Wallbridge carried out a compilation of all available exploration data. A field examination of the five stripped areas was also completed in 1999, and 22 grab samples were submitted to Swastika Laboratories for assay. The purpose of this work was to confirm the high PGE levels reported from the trenches. Results of the sampling confirmed the presence of significant PGE mineralization and are tabulated in Table 5. 30

32 Table 5: Parkin Surface Sample Assays. Trench # Sample Cu Ni Co Pt Pd Au Ag (%) (%) (%) (g/t) (g/t) (g/t) (g/t) T-3 RM T-3 RM T-3 RM T-3 RM T-3 RM T-3 RM T-4 (T-3 annex) RM T-4 (T-3 annex) RM T-4 (T-3 annex) RM T-4 (T-3 annex) RM T-1 RM T-5 RM T-5 RM T-5 RM T-5 RM T-5 RM T-5 RM T-6 RM T-6 RM T-6 RM T-6 RM pit 125 m SSW of T-6 RM m SSW of T6 RM A beep-mat survey was completed with the objective of locating high priority targets for mechanical stripping. One (approximately 4kg) locally derived massive sulfide boulder has been located at grid coordinates 8+00S, 2+21E, within humus between previously excavated areas. An area of apparent bedrock conductivity was outlined. It is approximately 10m in diameter, and centred at approximately 2+00S, 1+87E. An IP survey was completed on the property covering the Parkin Offset structure from L11S to L1N. This encompasses both the North and South Zones discovered in the 1950s. A total of 12.6 line kilometres was surveyed using a 25m dipole-dipole configuration with a reading spacing (n) of 1 to 6. The work was carried out by Remy Belanger of Evian, Quebec. The IP survey defined anomalies over both the Northbridge 1 and 2 zones. 31

33 An initial 18 diamond drill holes (WMP-001, and WMP-003 to 019 inclusive) totalling 1,409.04m were drilled on the offset structure on the property between October 6 and December 21, The purpose of this diamond drill program was to confirm the extent of the previously reported Sudbury-type mineralization along the offset structure and assess its PGE potential, as indicated by the surface sampling. Hole WMP-001 was drilled to test the off-hole conductor previously defined by downhole pulse EM surveys in holes P-56 and P-57. No significant mineralization was intersected. A down-hole Crone Pulse-EM anomaly was carried out in WMP-001. The survey defined two off-hole anomalies to the north of the hole; in both cases, the nearest edge of the response was 30m away from the hole. The remaining holes tested the North and South zones. An additional 103 holes totalling 20,985.15m were completed in 2000/2001. These consisted of: infill drilling on known zones to bring drill spacing to 25m, or in some cases 12.5m; drill testing for extensions of known zones; and, several deep holes to serve as platforms for down-hole EM surveys. Downhole EM surveys were completed on several shallow holes by Crone Geophysics. Lamontagne completed downhole UTEM surveys on a number of deeper boreholes. Anomalous responses from borehole electromagnetic surveys near the 025S Zone indicate the presence of a conductive zone between WMP-001 and WMP-002 that suggests the 025S Zone is continuous between WMP-044 and WMP-046 over a distance 32

34 of 225m along plunge. The 025S Zone is also open down plunge to the north of WMP- 046 at depth. WMP-001 intersected mineralization over several intervals including 16.4m of 1.60% Ni+Cu and 4.26g/t TPM. WMP-43 intersected 3 narrow zones of mineralization including 0.44m of 3.06% combined Ni+Cu. An estimate of the Mineral Resource on Walbridge s Parkin Property was prepared by WGM in This resource estimate is described in section 14. In 2008 Wallbridge Mining drilled seven new diamond drill holes totalling 3,562 metres with follow up BHUTEM surveys in five of the holes. One RIM panel utilizing boreholes WMP-100 to P-060 was also surveyed. A detailed report of the 2008 work program titled 2008 Report on the Parkin Offset Properties Sudbury, Ontario has been filed on SEDAR (Croteau, 2008). In 2009 Wallbridge Mining drilled one diamond drill hole, WMP-137 to a depth of 1,271m with follow up BHUTEM and one RIM panel utilizing boreholes WMP-100 to WMP-056. A detailed report of the 2009 work program titled 2009 Report on the Parkin Offset Properties Sudbury, Ontario has been filed on SEDAR (Croteau, 2009). There was no significant work on the Parkin portion of the property in A detailed report of the 2010 work program titled 2010 Report on the Parkin Offset Properties Sudbury, Ontario has been filed on SEDAR (Croteau, 2010). 6.3 WALLBRIDGE CHAMPION BEAR PROPERTY HISTORICAL WORK South Block In 1934, Falconbridge acquired four claims straddling the township line between Parkin and Norman Townships, to cover some minor copper-nickel showings. A short drill hole directly under the main showing cut almost barren quartz diorite, and work on the 33

35 property was suspended. Interest in the area was reignited by the discovery of the Milnet (Jonsmith) deposit, which is located between the two Champion Bear claim groups, in the late 1940s. The southern block, known as the Brady Showing, has undergone exploration since its reported discovery by a local prospector in the early 1950s. Records of the work prior to the 1980s are scarce. In 1983, Nearctic Resources carried out magnetic and VLF-EM geophysical surveys, stripping and trenching and drilled eight vertical holes (518 metres) around the showing. Grades up to 6.79% Cu, 3.74% Ni, 0.93g/t Pt, 1.24g/t Pd and 1.24g/t Au were reported. In 1986, Falconbridge drilled 14 holes (833 metres) along the 500 metre strike length of the dyke on the southern claims. These holes, which tested the dyke to a maximum depth of 100 metres, encountered only weakly anomalous material. The best results were 0.12% Cu, 0.16% Ni, 190ppb Pt and 160ppb Pd. In 1988 Prophet Resources Ltd. completed detailed geological mapping, channel sampling and drilled 54 percussion holes (882 metres) and five diamond drill holes (630 metres). The best values from surface channels were 24.57g/t Pt, and 3g/t Pd. Percussion holes gave up to 3.0% Cu, 2.4% Ni, 6g/t Pt, 4g/t Pd and 18g/t Au. The best diamond drill results were oz Au/t, oz Pd/t and oz Pt/t to a maximum depth of 100 metres. In 1989, BP Selco, a division of BP Resources Canada Ltd., drilled three deep holes (1,093 metres). These deeper holes hit the offset dyke but encountered no significant mineralization. In 1995, WMC International Ltd., as part of their program which explored the dyke in Parkin and adjacent townships, completed a geological mapping and sampling program. No new mineralized areas or zones were identified on the southern claim block. Data for work prior to the 1980s on the larger northern block, as with the southern claims, is incomplete. Early exploration focused on gold mineralization. In 1985, John Brady carried out additional stripping and trenching to explore the dyke in search of Cu, Ni and PGE. In 1986, Falconbridge drilled four holes (666 metres) along a 700 metre section of the dyke. No significant Cu/Ni values were encountered and Pt/Pd values were less than 60ppb. In 1987, INCO started a two year program of geological mapping, electromagnetic surveys and drilled two holes (267 metres). Their drilling 34

36 encountered 12.5g/t Au over 0.3m, Cu/Ni values did not exceed 950/450ppm and Pt/Pd were below detection except for one sample which assayed 0.3g/t Pt. John Brady carried out some trenching in 1992 to further expose dyke material. In 1995, WMC International Ltd. carried out a DigHEM airborne geophysical survey and a program of geological mapping and sampling and wide spaced UTEM survey over a six kilometre strike length of the dyke. No target areas worthy of follow-up were detected. Champion Bear s exploration program was focused on confirming the known mineralization at the Brady Showing, both on surface and by drilling, on the southern claim block. Selected areas of the 80 metre long main Brady Showing, on the southern claims, were cleaned to relocate previous channel sample locations. These were tied in to a new base line which was also used to tie in previous surface surveys and drilling. A 2.7 metre channel sample near the northern edge of the showing sampled the main massive sulfide lens. This sample assayed 9.2g/t Pt, 4.3g/t Pd, 1.57g/t Au, 11.2% Cu and 0.63% Ni confirming the results of previous operators. Nine diamond drill holes totaling 597 metres tested the main showing to a vertical depth of 50 metres. The holes were drilled at different angles, three per section on three different sections 25 metres apart. The dyke is shown to be sub-vertical with local bulges. The Parkin Offset dyke has been traced by these previous operators over a strike length of more than five kilometres on the two Champion Bear claim blocks. However, much of the historic data is difficult to correlate. 35

37 Table 6: Summary of Significant Drill Intersections by Champion Bear North Block Exploration on the northern section of the property has traced the dyke on surface for almost five kilometres. Sampling at many locations on surface has returned only weakly anomalous results, and a number of holes by previous explorers, drilled at several locations, have tested its top 100 to 150 metres. None of these encountered any significant PGE or Cu, Ni mineralization. The two holes drilled by Champion Bear in the southern portion of the north claim block of the dyke were also not mineralized. It is notable that the range of metal ratios seen in both the Wallbridge and Champion Bear drill results suggests similar mineralization exists on both company s properties. Two diamond drill holes totaling 245 metres tested the northern claim block. The holes were drilled 400 metres north of the southern limit of the block. Hole No. 10 tested for the possible southern extension of the dyke beyond a projected east-west fault 150 metres to the north. This hole did not intersect the dyke. Hole number 11 tested the main part of the dyke 150 metres east of hole number 10, close to where previous explorers interpreted a bifurcation in the dyke. This hole encountered two dyke sections of 17 and 63 metre width, respectively. No significant mineralization was encountered in this hole. 36

38 6.3.2 WALLBRIDGE WORK HISTORY Wallbridge had not completed any work on either the South or North Block portions of this property prior to the summer of During the summer of 2008, a partially cut and uncut 50 line km grid was traversed at an approximate 100 metre line spacing oriented at approximately ESE to WNW. The grid was mapped at 1:2,000 scale with the work performed by a four man exploration team consisting of two contract geologists and two field assistants. The objective of the work on this property was to map and sample the entire area at 1:2,000 scale, focusing mainly on ground-truthing the Parkin offset dyke while looking for compositional and possibly geochemical variations along strike. A total of 130 samples were collected of which 118 were analyzed for base and precious metals, and whole rock, trace and REE. There were also 8 thin sections prepared from the surface samples collected. Two NQ drill holes were completed in Parkin Township along with 2 accompanying BHUTEM4 surveys. A detailed report of the 2008 work program titled 2008 Report on the Parkin Offset Properties Sudbury, Ontario has been filed on SEDAR (Croteau, 2008). In 2009 Wallbridge Mining drilled two new holes totaling 1,506 metres of diamond drilling with one of the holes having follow-up BHUTEM and two additional RIM panel surveys utilizing borehole pairs WMP-095 to WMM-005 and WCB-003 to WMP-056. A detailed report of the 2009 work program titled 2009 Report on the Parkin Offset Properties Sudbury, Ontario has been filed on SEDAR (Croteau, 2009). In 2010, three holes totaling 2,543m were completed, as well as BHUTEM and one RIM panel between boreholes WCB-003 and WMM-005. A detailed report of the 2010 work program titled 2010 Report on the Parkin Offset Properties Sudbury, Ontario has been filed on SEDAR (Croteau, 2010). In 2011, 3,008m of diamond drilling were completed, as well as BHUTEM surveys, one RIM panel from WMM-014-W2 (Milnet property) to WCB-003 and surface excavations. 37

39 A detailed report of the 2011 work program titled Technical Report on the Parkin Offset Properties, Sudbury, Ontario has been filed on SEDAR (Bailey, 2011). 7 GEOLOGICAL SETTING AND MINERALIZATION 7.1 SUDBURY GEOLOGY The Sudbury area hosts one of the most prolific Ni-Cu-PGE mining camps in the world. The deposits occur within and adjacent to the Sudbury Structure that formed as a result of a major Early Proterozoic meteorite impact 1,850 million years ago (Ma). The Sudbury Structure straddles the unconformity between Archean gneisses and plutons of the Superior Province and overlying Paleoproterozoic Huronian supracrustal rocks of the Southern Province. It is geographically divided into the North, South, and East Ranges and comprises four geologic domains: 1. The Sudbury Igneous Complex (SIC) occurs as a 60 km x 27 km elliptical bowlshaped body that formed from a meteorite impact melt sheet. It consists of a basal xenolithic norite breccia (contact sublayer) overlain by norite, quartzgabbro and granophyre and historically has been referred to as the "Nickel- Bearing Irruptive", the "Sudbury Nickel Irruptive" and the "Nickel Irruptive". 2. Concentric and radial dykes of diorite, granodiorite, and quartz diorite (offset dykes, Figure 2). 3. The footwall to the SIC contains a zone, up to 80 km wide, of Archean and Proterozoic rocks that are fractured, brecciated (Sudbury breccia), and locally partially melted (e.g. Late Granite Breccia) or recrystallized due to the meteorite impact and subsequent emplacement of the SIC. 4. The SIC is overlain by the Whitewater Group, comprising fall-back supercrustal breccia of the Onaping Formation and the overlying basin-fill sedimentary rocks of the Onwatin and Chelmsford Formations. 38

40 Recent Offset Dyke deposit discoveries in Sudbury include Vale s Kelly Lake Deposit, Vale s Totten Deposit, KGHM s Victoria Deposit, the Wallbridge-Lonmin JV s Trill Offset Sulphide Lens, and the Wallbridge-Implats Parkin JV s 1500 Zone. Figure 2: Sudbury Igneous Complex and Offset Dykes. 39

41 7.2 PROPERTY GEOLOGY The Property is underlain 9.5 kilometres of the Parkin Offset dyke on the northeast corner of the Sudbury basin. The southern part of the dyke intrudes mafic and felsic metavolcanic rocks of the Archean Parkin Greenstone Belt (Figure 3). The northern part of the dyke intrudes Early Proterozoic Huronian marble, quartzite and conglomerate unconformably overlying the Archean basement. The Huronian rocks have been subdivided into the following litho-stratigraphic formations: Mississagi, Bruce, Espanola, Serpent, Gowganda, and Lorrain. These rocks are intruded by late Proterozoic dykes of Nipissing diabase, Sudbury Swarm olivine diabase, and the offset dyke quartz diorite related to the SIC. The lithologies have been subjected to repeated deformation, with the exception of the late diabase dikes and SIC-related Parkin Offset dyke. The earliest interpreted orogenic events are related to the emplaced of the quartz monzonite batholith and related migmatitic rocks in the north. After uplift, erosion, and deposition of the Huronian rocks, the area was again subjected to deformation and low-grade regional metamorphism during the Penokean Orogeny. Major north-trending faults were probably active during and after these various events. Large-scale north-northwest lineaments/fault systems are interpreted from topography, air photos, and large swamps. The Parkin quartz diorite offset dyke trends across the Parkin Champion Bear south properties at an azimuth of 033. The dyke is continuous across the property, generally sub-vertical and has a width of 45 to 135 m. On the Milnet property, host to the historical Milnet Mine, the dyke trends in a north-westerly direction for ~250 m. The dyke is not continuous along this trend with the pinched terminations interpreted to be a structural control on the Milner mine mineralization. North of the Milnet Mine, the dyke returns to the northeast strike. On the Champion Bear northern claim block, a four and a half kilometre long section of the Parkin Offset dyke trends at about N15/E. The offset dyke here is between 30 to 90 metres wide and dips steeply east at 85 o. There is another poorly constrained northwest component to the dyke near the southern boundary of this claim block. 40

42 In general, the dyke contains both massive quartz diorite as well as inclusion quartz diorite. Compositions of the quartz diorites are consistent with average compositions for North Range quartz diorites. 41

43 Figure 3: Geological map of the southern portion of the POJV. 42

44 7.3 MINERALIZATION Nickel, copper, PGE sulfide mineralization within Offset dykes in Sudbury occurs associated with inclusion bearing phases of quartz diorite ( IQD ), often concentrated within structural traps in the dykes such as vertical or horizontal pinches/terminations, bends in the dyke, splays/convergences of the dyke, along margins or pressure shadows of large blocks caught up in the dyke (particularly coarse mafic blocks). An association between mineralization in the dyke and coarse mafic lithologies in the wall rock has been documented. Mineralization includes zones of massive to stringer/disseminated zones of pyrrhotite, chalcopyrite, pyrite and pentlandite: 1. The historic Milnet Mine, reports past production of 157,130 tons averaging 2.25 g/t platinum, 2.98 g/t palladium, 0.93 g/t gold, 1.49 % nickel and 1.54 % copper (Meyn, 1970). At the time of production, orebodies #1 and #2 were mined to a depth of approximately 150m. 2. Drilling by the Joint Venture beneath the Milnet Mine discovered the Milnet 1500 zone in 2009, intersecting metres (1, , m) containing 8.00g/t TPM, 2.57% copper and 0.78% nickel. More recent drilling intersected 8.0 metres (1,473-1,481m) grading 4.32g/t TPM, 4.11% nickel, and 0.60% copper and in another hole metres ( m) containing 1.85 g/t TPM, 0.33 % nickel and 0.73 % copper. Modelling of mineralised intersections and borehole electromagnetic geophysics indicates that the Milnet 1500 Zone is a minimum of 400 metres by metres with unknown true width and open in four directions. The full extent of the zone is not known and most of the dyke in the area has not been tested by drilling 3. The Parkin Resource (Section 14) on the Xstrata Parkin property includes an Indicated Resource of 264,000 tonnes averaging 0.70% Cu, 0.65% Ni, 0.03% Co, 0.62g/t Pt, 0.80g/t Pd, 0.23g/t Au, and 6.3g/t Ag (Soever, 2002). The mineralized zones from South to North are: (1) 750 South Zone, (2) South Zone, (3) South 43

45 Zone Extension, (4) North Zone and (5) 025 South Zone. These 5 zones occur along a strike length of ~750m and are less than 200m from surface. 4. A channel sample from the Brady Showing on the Champion Bear South Block returned 11.2% Cu, 0.6% Ni, 9.2g/t Pt, 4.3g/t Pd and 1.6g/t Au over 2.70 metres at surface. Anomalous gold values have also been intercepted on the Champion Bear south block, and include 44g/t Au over 1.4m ( m in WCB-006). 8 DEPOSIT TYPES Sudbury is one of the most significant mining districts in the world and accounts for ~4% of global production of platinum group metals and ~10% of global production of nickel. Historical production over the past 125 years plus current reserves in Sudbury have been estimated at approximately 1.6 billion tonnes of ore containing over 60 million ounces of platinum group metals plus gold, over 40 billion pounds of nickel and over 35 billion pounds of copper (Eckstrand and Hulbert, 2007; Ames and Farrow, 2007, Lightfoot and Farrow, 2002) There are three main types of mineral deposits in the Sudbury area: 1. Contact deposits, along the lower contact of the SIC, both within the contact sublayer and within the immediately adjacent Footwall Breccia. 2. Footwall deposits, in the footwall rocks themselves, often associated with zones of pseudotachylyte and associated melt rock. 3. Offset dyke deposits, associated with offset dykes. The Property is located on the Parkin Offset Dyke and is being explored for Offset dyke type deposits. Offset Style Deposits of PGEs, nickel, and copper account for a quarter to a third of all production in Sudbury and occur as massive sulphide zones within multiphase quartz diorite offset dykes that extend radially from and concentrically around the Sudbury Igneous Complex. Examples are found at Wallbridge s POJV with Implats, Vale's Copper Cliff North and South mines and Vale's Totten mine. 44

46 The conceptual Offset deposit exploration target includes 5 to 10 million tonnes containing 1-3 g/t platinum, 1-3 g/t palladium, 1-3 % copper, g/t gold, and 1-3 % nickel. This represents a body that is metres in strike length, metres in thickness and has many 100 s of metres of plunge extent. This target is conceptual in nature and there has been insufficient work on the property to determine whether a deposit of this size and grade exists. Target mineralization includes massive and semi-massive accumulations of sulphide, including pyrrhotite > chalcopyrite > pentlandite. Sulphide accumulations are associated with inclusion bearing phases of quartz diorite and are known to concentrate within structural traps within the dyke conduit such as vertical or horizontal pinches or terminations in the dyke, bends in the dyke, splays/convergences of dyke branches, along the margins or within pressure shadows of large blocks caught up in the dyke, and at intersections of the offset dykes with coarse mafic intrusions in the wall rock. Increased PGEs are typically associated with more fractionated chalcopyrite rich zones within Offset dyke deposits, which can extend from the dyke outwards into the surrounding country rock, where it often associated with adjacent zones of Sudbury breccia, metabreccia or anatexite. These structural traps are largely controlled by the geology of the wall rock to the Offset dykes (geological units, contacts and structures). Understanding these wall rocks is crucial to developing and prioritizing drill targets below the depth of penetration of surface geophysics. The massive and semi-massive accumulations of sulphide are strongly conductive and borehole EM is used routinely on all drill holes of significant depth. The rule of thumb is that current borehole EM technology (BHUTEM 4) can detect an off-hole conductor about the same distance as the median dimension of that conductor, with several practical caveats. Maximum effectiveness requires strong coupling between the loop configuration and the conductor. As well, quality low-noise data depends on precise knowledge of 45

47 transmitter-receiver geometry, which requires gyro surveying of the borehole and submetre GPS surveying of the borehole collar and loop configuration. Another caveat is that because of the fragmental nature of the ore deposits and host rocks, a deposit might not be electrically continuous and actually made up of several conductors; in this case the distance it can be detected from will be reduced relative to the overall size of the sulphide mass. In practice, for the target type in question and providing there is quality data, borehole EM is thought to dependably test a radius of metres around the surveyed hole. A schematic model of the geology through sections of the Worthington Offset is shown in as an example (Figure 4). Interpretation suggests that the quartz diorite ( QD ) intruded the offset host structure first, followed by a second pulse of mineralized inclusion quartz diorite ( IQD ), generally through the centre of the QD (Lightfoot and Farrow, 2002). IQD is the offset facies usually associated with sulfide mineralization, and thus the main focus of exploration. 46

48 Figure 4: Schematic model of the Worthington Offset (Lightfoot and Farrow, 2002). 47

49 9 EXPLORATION Exploration work prior to 2012 is described in Section 6. The majority of work on the property includes drilling and borehole geophysics described in Section Drilling. In 2012, twelve GPS survey control stations were established on the ground to tie in future surveys, including 6 on the Milnet property, 1 on Xstrata Parkin, and 3 on Champion Bear Parkin. Drill collars for WMM-xxx and V-73-xx series holes on the Milnet Property (32 in total) and available Milnet Mine infrastructure were surveyed with PPP and RTK GPS with post processing to sub-centimetre precision. The 2012 GPS survey data was used to correct the digital drill hole data base, including BHEM conductor plates and the historical mine infrastructure (shaft, stopes, drifts, underground drilling, etc.). 10 DRILLING Diamond drilling in 2012 was carried out by Jacob and Samuel Drilling Ltd. of Sudbury, using a VD5000 drill rig. Drilling was completed on the Milnet property and consisted of 2 new parent holes and 4 wedge cuts. Wedge cuts W3 and W4 required use of NAVI directional drilling. In total, Wallbridge has completed 171 drill holes and wedge-cuts totalling 56,306 metres (Table 7). Halliburton Sperry Drilling Services completed three, non-magnetic, north-seeking gyro surveys and three BHUTEM4 surveys were completed by Lamontagne Geophysics. 48

50 Table 7: Drill Holes. 49

51 50

52 51

53 10.1 WALLBRIDGE MILNET PROPERTY The most significant drilling on the Milnet property to date has been associated with the discovery of the Milnet 1500 Zone, although additional work was completed to test the flexures in the dyke and to provide platform holes for RIM and UTEM4 surveys. Initially, WMM-011 was designed to test the flexure beneath the #1 ore body of the Milnet Mine; however, it did not intersect the dyke and thus the flexure has not been tested to depth. WMM-012 targeted a bend in the dyke near the northern property boundary; it exited the dyke at about 87 metres so the deeper potential of this northern flexure has not been tested to depth. WMM-012 intersected a second interval of QD between and metres, which may represent a splay or the dyke wrapping around a large block in the dyke. Either scenario provides a favourable geological setting for mineralization. The Milnet 1500 Zone was originally identified from BHUTEM in WMM-010 and WMM-010-W1; follow-up drilling included the following intercepts: Discovery hole (WMM-014) intersected a PGE-enriched portion of the zone, assaying 8.0g/t TPM (Pt+Pd+Au), 2.57% Cu and 0.78% Ni over metres (1, ,513.90m); WMM-014-W1 intersected 2.46g/t TPM, 0.96% Cu, 0.44% and Ni over metres (1, ,506.56m); WMM-014-W2 intersected a first zone of 2.11g/t TPM, 1.05% Cu, and 0.72% Ni over 8.00 metres (1,521-1,529m), and a second zone of 4.61g/t TPM, 0.42% Cu, 1.55% Ni over 1.47 metres (1, ,551.27m), WMM-015 intersected 0.20g/t TPM, 0.09% Cu, and 0.09% Ni over 23.10m (1, ,448.5m), and WMM-015-W2 intersected 4.32g/t TPM, 0.60% Cu, and 4.11% Ni over 8.0 metres (1,473-1,481m). 52

54 WMM-018-W3 intersected 1.85g/t TPM, 0.73% Cu and 0.33% Ni over 12.85m (1, ,678.65m). WMM-014 was drilled in 2009 to target the off-hole conductor confirmed by WMM-010- W1 and discovered the Milnet 1500 Zone, intersecting metres (1, ,513.90m) averaging 8.0g/t Pt+Pd+Au, 2.57% Cu and 0.78% Ni at about 1500 metres depth below the #2 orebody of the Milnet Mine. Follow-up wedge-cut WMM-014-W1 intersected metres (1, ,506.56) averaging 2.46g/t Pt+Pd+Au, 0.96% Cu and 0.44% Ni. Bore hole WMM-014-W2 was designed as a 50m northerly step out from WMM-014. The hole intersected two zones of sulfides from 1,521m to 1,529m and 1,549.8m to 1,551.27m assaying 2.11g/t (Au + Pt + Pd), 5.23g/t Ag, 1.05% Cu and 0.72% Ni over 8 metres and 4.61g/t (Au + Pt + Pd), 1.57g/t Ag, 0.42% Cu and 1.55% Ni over 1.47 metres respectively. The zones appear to be separated by a large gabbroic block caught up in the dyke. Based strictly on the drilling, the Milnet 1500 Zone is open to the north of WMM- 014-W2 where it is possible the narrow sulfide zones converge on the far edge of the gabbroic block or another structural trap. Bore hole WMM-015 was a ~50m southerly step out from the massive sulfide intersection in WMM-014, targeting EM plates at a depth of about 1,500m. In 2011, wedge-cut WMM-015-W2 targeted the WMM-015 EM plate after wedge-cut WMM-015-W1 failed after 43m. WMM-015-W2 intersected metres (1,473-1,486m) averaging 3.22g/t Pt+Pd+Au, 0.70% Cu and 2.65% Ni, including 8.00 metres (1,473-1,481m) averaging 4.32g/t Pt+Pd+Au, 0.60% Cu and 4.11% Ni. WMM-015-W2 also intersected a shallower zone at 1, ,333.0m averaging 0.64g/t Pt+Pd+Au, 0.43% Cu and 0.43% Ni including 4.80 metres (1, ,333.0m) of 0.82g/t Pt+Pd+Au, 0.58% Cu and 0.51% Ni. 53

55 WMM-016 was a 50 metre step-out targeting the southern extent of a 5,000 siemen plate identified from WMM-015-W2. WMM-016 intersected two sections of QD separated by a strongly silicified sedimentary unit interpreted as a large block caught up in the dyke. WMM-016 did not intersect significant mineralization indicating the mineralized lens pinches off to the south at this elevation. In 2012, WMM-017 tested the location of unexposed QD dyke boundaries between historical drill hole WMM-005 and V The hole intersected approximately 69m of dyke which contains sulphide blebs that increase in the central portion of the dyke. WMM-018 was designed a geophysical platform hole that targeted 100m down-plunge of the Milnet 1500 Zone. Technical difficulties resulted in WMM-018-W1 which intercepted over 700m of Nipissing gabbro and had two off-hole EM responses. Wedge cut WMM-018-W2 targeted an off-hole EM response identified from WMM-018-W1, but failed after 75m. WMM-018-W3 was cut and with the assistance of Navi drilling, intercepted over 300m of Nipissing gabbro as well as mineralized QD. The mineralization intersected averaged 1.85g/t TPM, 0.73% Cu and 0.33% Ni over 12.85m (1, ,678.65m), including 2.23m ( m) that averaged 3.14g/t TPM, 1.00% Cu and 0.74% Ni. WMM-018-W4 was then cut as another 100m step down-plunge, and with a failed Navi cut, followed by a successful Navi cut, the hole intercepted Nipissing gabbro which has been interpreted as both a host lithology and as a large block caught up in the QD dyke. The QD in WMM-018-W4 did not have significant sulphides MILNET GEOPHYSICS Initial drilling of WMM-010 resulted in an ambiguous building response in the BHUTEM profile at the bottom of the hole. Subsequently the hole was deepened and resurveyed which identified a strong off-hole conductor. Wedge-cut WMM-010-W1 failed; WMM-010-W2 did not intersect mineralization but confirmed the off-hole conductor. 54

56 Modelling of BHUTEM4 results from WMM-014 produced two in-hole conductive plates, the larger of the two measuring 100 x 60 metres and having a conductance of 3,000 siemens and the smaller plate measuring 100 x 25 metres and having a conductance of 15,000 siemens. Examination of the drill core showed drilling probably did not intersect the larger of the two plates but that it lay very close to the hole trace. WMM- 014-W1 targeted both. The BHUTEM4 survey in WMM-014-W1 produced two similar plate models, (18,000 siemens 100 x 25 metres; 2,000 siemens 100 x 25 metres) but this time the centre of the larger plate was significantly displaced from previous models, ~50 metres to the southeast. Bore hole WMM-015 was a ~50m southerly step out from the massive sulfide intersection in WMM-014, targeting the electromagnetic ( EM ) plates at a depth of about 1,500m below surface. The hole did not intersect any mineralization at this depth, but did encounter shallower weak to moderate mineralization from 1,425 metres to 1,460 metres and appears to have passed over the zone. This mineralization includes two 10 centimetre sections containing 25% sulfides. These sections have similar characteristics to the sulfide bands in WMM-014 and WMM-014-W1, suggesting continuity between the holes. Both WMM-014-W2 and WMM-015 were probed by BHUTEM4 surveys with both a collar loop and an off-hole loop in order to maximize coupling of conductors of varying orientations. All four surveys detected in-hole and off-hole EM conductors. Multiple conductive plates were modelled including a larger 140 by 40 metre plate with a conductance of 2,000 siemens and a smaller more conductive zone with an interpreted strike length of 70 metres, a dip extent of 30 metres and a conductance of 25,000 siemens. BHUTEM on WMM-015-W2 identified a 120m x 45m, 5,000 siemen in-hole conductor flanked by two 300 siemen plates (70m x 40m and 70m x 60m) on either side. The more weakly mineralized zone at 1,325 metres was characterized by an in-hole 200 siemen plate. 55

57 WMM-016 was a 50 metre step-out targeting the southern extent of the 5,000 siemen plate from WMM-015-W2. BHUTEM completed on WMM-016 identified an off-hole response similar to that identified in WMM-015-W2, which was revised accordingly and modelled as an 80m x 40m plate with a conductance of 5,000 siemens. Three less conductive plates were modelled as well including a 100 siemen 100m x 40m plate, a 50 siemen 60m x 40m plate and a 50 siemen 40m x 30m plate. WMM-018-W1 was designed as a 100m step down plunge of the Milnet 1500 Zone and BHUTEM identified two off-hole responses at 1,230m (~700 siemens) and 1,680m (2,500 siemens). WMM-018-W3, another 100m down-plunge step-out, intercepted the core of the deeper anomaly at 1,675m down hole (which was verified by sulphide and BHUTEM). WMM-018-W4 was a further 100m step down plunge and BHUEM identified a 1,200 siemen plate at 1,765m measuring 250m x 26m to the west of the hole. Modelling of that response indicates that WMM-018-W4 is near the northern edge of the conductor. 56

58 Figure 5: Plan view of WMM-018-W4, QD dyke projection and BHEM plates. 57

59 Figure 6: Section view of WMM-018-W4, QD dyke projections and BHEM plates PARKIN XSTRATA PROPERTY There was no drilling completed on the Parkin property in

60 10.3 WALLBRIDGE CHAMPION BEAR PARKIN JOINT VENTURE PROPERTY There was no drilling completed on the Champion Bear Parkin property in SAMPLE PREPARATION, ANALYSES, AND SECURITY All Wallbridge staff members are trained on the importance of sample security and integrity. Grab samples and representative splits are described, bagged, and assigned a sample number in the field, brought to the Wallbridge office in Lively, Ontario, and then transported to the ALS Minerals sample preparation laboratory in Sudbury, Ontario. Representative sample splits are stored, either permanently or temporarily, for future reference at the Wallbridge head office in Lively, Ontario. Field samples were taken of outcrops with visible sulfides or strong epidote, amphibole, chlorite, or hematite alteration or signs of SIC-related partial melting. Representative samples of Sudbury breccia matrix were taken for TPM (fire assay, ICP-AES), ICP-MS and Cl and F analyses, and thin sections were made to determine the degree of thermal metamorphism and alteration of the breccia. Any rock that was suspected to be quartz diorite, or was suspected to be the cause of any geophysical anomaly was sampled and sent for whole rock and REE analysis in addition to Wallbridge s standard ICP-MS and TPM (fire assay, ICP-AES) analytical methods. Samples and representatives were numbered and bagged in the field, sample locations were recorded using a Garmin Etrex Legend GPS, and a metal tag with the sample number was left at the site. Sample sites also were flagged, with the sample number written on the flag. Drill core sampling was controlled by lithology, alteration or visible mineralization, with a maximum sample length of 1.5m. All Sudbury breccia and quartz diorite was sampled. Diabase was sampled to provide background values and to build a database of geochemical data that could be used to differentiate this rock type from quartz diorite. All drill core samples were split with a diamond saw. Half of the core was submitted to the lab for analysis and the other half was retained as a representative sample or for 59

61 possible re-sampling. Every effort was taken to ensure that the sample sent to the lab was representative of the entire section of core; however, due to nugget effects and the heterogeneity that is common with this type of PGE mineralization, it is not guaranteed that an assay could be repeated. During the drilling program, core samples are transported from the field to the Wallbridge head office by company personnel. Cores are logged and sample intervals are marked by Wallbridge geologists. Cores were halved using a water cooled diamond saw that is cleaned regularly to avoid sample to sample contamination. Half of the core was submitted to the lab for analysis and the other half was retained on outdoor, roofed core racks at the Wallbridge head office at 129 Fielding Road, Lively, Ontario as a representative sample or for possible re-sampling. Every effort was taken to ensure that the sample sent to the lab was representative of the entire section of core; however, due to nugget effects and the heterogeneity that is common with this type of mineralization, it is not guaranteed that an assay could be repeated. Representative splits from grab samples and un-sampled half-cores are also placed in permanent storage for future reference at the Wallbridge head office in Lively, Ontario. All samples are sealed (stapled) in individual, labelled plastic bags with a sample tag. If a thin section was requested, a portion of the sample is cut from the grab sample at the same time. Blind standards (LDI-3 STD) and field blanks are submitted at least every twentieth sample, or as the last samples to be submitted in a batch. The sample book used to track the samples has four partitions with the sample number on each tag. One tag goes with the geological reference, on with the lab sample, one with the thin section and the remaining part of the tag book is stored at the Wallbridge Office in Lively, Ontario. Since January, 2005, samples have been sent to ALS Minerals, an ISO 9001:2008 and ISO/IEC 17025:2005 certified service provider, for geochemical analyses. Before December, 2005, samples were shipped to the ALS Minerals sample preparation facility in Toronto by an independent trucking company. 60

62 At ALS Minerals, samples were checked against requisition documents prior to being dried, weighed, crushed to 70% passing 2mm and split to 250 gram fractions using a Jones riffle and pulverized split to 85% passing 75 micron and then transported by ALS Minerals to their analytical facilities in Vancouver, British Columbia. In 2011, Wallbridge began adopting the use of 1kg splits to improve compositional representation for some sampling. Samples are analyzed for gold, platinum, and palladium by standard lead collection fire assay fusion followed by a combination of inductively coupled plasma mass spectrometry (ICP-MS) and atomic emission spectrometry (ICP-AES). Samples are also analyzed for 48 base metals and trace elements using a four acid (HNO3-HCIO4-HF and HCI) near total digestion and a combination of ICP-MS and ICP-AES. ICP-MS overlimits are reanalyzed using HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES. In the event of higher grade mineralization, the preference is to analyze sample groups by submitting the samples directly for analytical methods described for overlimits. These analytical methods, also referred to as High Grade/Ores Methods, are comprised of HF-HNO3- HClO4 acid digestion, HCl leach and ICP-AES. In addition to High Grade/Ores Methods, sulphur is analyzed using Total Sulphur by LECO to accommodate the anticipated higher sulphur levels. Selected samples are subjected to whole rock and rare earth element (REE) analysis. These samples are subjected to Lithium Borate fusion with ICP-AES for oxides, and Lithium Metaborate fusion with ICP-MS for trace and rare earth element evaluation. Selected samples of Sudbury breccia matrix are analyzed for chlorine and fluorine using KOH fusion specific ion electrode (ELE81A) and Neutron Activation (NAA-06) procedures. ALS Minerals has a rigorous internal security and client confidentiality policy; details are available through their website: 61

63 ALS Minerals provides assay results to the Wallbridge Assay Manager, and, in turn is sent to the project geologist via . Prior to the 2005 exploration season, core and grab samples were analyzed by SGS Mineral Services, an ISO 9000 certified, geochemical exploration and research analysis facility which maintains a sample preparation lab in Sudbury. Samples sent to them were routinely dried, crushed, riffle split, and pulverized to produce 250 gram 85% -75 micron assay grade pulps. These pulps were subsequently transported to SGS analytical facilities in Rouyn-Noranda, PQ, for platinum group element analyses by fire assay, and to Toronto for ICP multi-element geochemical analysis. SGS analyzed the submitted samples for platinum group metals using a nominal 30 gram trace level fire assay lead collection procedure with ICP finish. Over-limit samples were subjected to an ore grade fire assay gravimetric analysis method. Base metal assaying was done in their Toronto laboratory using a combination of multi-acid digestion (ICP- 40B) and ICP-MS methods to produce a 32 element suite of base metal and background results. Over-limit samples from the ICM40B method for Cu, Ni, and Co were treated to dedicated analysis using a sodium peroxide fusion ICP - resource definition procedure. Silver and sulfur values were determined by aqua-regia digest, AA finish, and LECO titration methods. 12 DATA VERIFICATION A blind standard (LDI-3 STD) is submitted at least every twentieth sample, or as the last sample to be submitted in a batch. Blanks from un-mineralized quartzite were also submitted in sequence following the standard and potentially high grade samples to check for contamination during the sample preparation. LDI-3 is a non-certified standard supplied by North American Palladium Ltd. It comprises high grade gabbro collected in 2001 at the Lac des Iles PGE deposit, located 85km north of Thunder Bay Ontario. Provisional compositional data for it is provided by the Ontario Geoscience Laboratories. 62

64 ALS Minerals has accreditation to ISO 9001:2000 standards and completes a rigorous internal quality-assurance, quality control assessment prior to releasing the finalized analytical results with a certificate. Details are available on their website: An initial visual inspection of the Wallbridge submitted standard and blank data included or related to this report has been made. If there had been a discrepancy between the measured and reported values of the standard and blank samples then the lab would have been contacted. The results of the Wallbridge quality control analyses done by ALS Minerals for drill core samples are stored in the drill core database and those from the field samples are stored in the report database. ALS Minerals also supplies their internal QC data which consists of standards, blanks and duplicates; Wallbridge stores these in certificate form. 13 MINERAL PROCESSING AND METALLURGICAL TESTING There has been no mineral processing or metallurgical testing completed on any of the mineralized zones on the properties. 14 MINERAL RESOURCE ESTIMATES The Parkin offset, on the Milnet property, hosts the historical Milnet Mine; production from the Mine has been reported as 157, % Ni, 1.54% Cu, 2.26g/t Pt and 2.98g/t Pd (Meyn, 1970). A resource estimate of the mineralization on the Parkin portion of the property was estimated by Watts, Griffis & McOuat Limited (WGM) in An Indicated Resource of 264,000 tonnes grading 0.70% Cu, 0.65% Ni, 0.62g/t Pt, 0.80g/t Pd and 0.23 g/t Au, and an Inferred Resource of approximately 87,000 tonnes grading 0.7% Cu, 0.4% Ni, 1.2g/t Pt, 1.1g/t Pd and 0.6g/t Au were defined (Table 8). This resource estimate was generated using the available drill data to date and Gemcom software. Five mineralized zones were modelled using a NSR cut-off grade of 63

65 C$40/tonne over a minimum true width of 2.0m. Grades were defined for each of the mineralized zones (block models) using a 35m search and an Inverse Distance Squared method with a sample minimum and maximum of 1 and 15, respectively. These searches were confined to within the modelled solids. A scoping study would help assess the opportunities for the potential development of the resource. At that time, WGM also recommended that standard and blank samples be inserted into sample batches to improve QA/QC. Additional details of the resource estimate are described in the report dated March 22, 2002 titled "Mineral Resource Estimate and Assessment of the Potential for Economic Mineralization on the Parkin Property for Wallbridge Mining Company Limited" by Alar Soever P.Geo. of WGM. It is the author s opinion that the 2002 WMG resource estimate is current. After this resource was calculated, drilling in 2008 extended the South Zone down-dip with a 7.02 metre intersection of 2.31g/t TPM, 0.64% Ni and 0.66%Cu in WMP-134 from m. Drilling also extended the 25S Zone down-dip with a 3.26 metre intersection of 3.3g/t TPM, 0.68% Ni and 3.01% Cu in WMP-131 ( m). The zones do not appear to have room for significant growth, but detailed modelling may yield additional drilling targets. Table 8: Mineral Resources On The Parkin Property WGM Estimate (as of March 1, 2002). Tonnes GRADE Cu Ni Pt Pd Au Co Ag Cu+Ni Pt+Pd+Au (%) (%) (g/t) (g/t) (g/t) (%) (g/t) (%) (g/t) Indicated Resources North Zone 86, South Zone 178, Total Indicated Resources 264, Inferred Resources 025S Zone 21, South Zone Extension 36, S Zone 30, Total Inferred Resources 87,

66 23 ADJACENT PROPERTIES The Property is adjacent to KGHM International s Podolsky mine property and site of the former Whistle mine to the southeast. At the end of 2010, probable reserves at KGHM s Podolsky were 0.5 million tonnes at 3.34% Cu, 0.29% Ni and 3.43g/t TPM, and the mine is expected to officially close early in The former Whistle open pit, now owned by KGHM, operated between 1988 to 1991 and 1994 to 1997 produced 5.71 million tons grading 0.95% Ni and 0.33% Cu (Farrow et al., 2008). While the information regarding adjacent properties is believed accurate, NI requires the author state that he has been unable to verify the information. Information regarding adjacent properties is not necessarily indicative of mineralization on the Property. 24 OTHER RELEVANT DATA AND INFORMATION There is no other relevant data or information that the author is aware of that should be included in this report. 65

67 25 INTERPRETATION AND CONCLUSIONS In terms of metal endowment, infrastructure, community support and regulatory stability, Sudbury is the most attractive place in the world to explore for and develop large-scale copper, nickel and PGE mining projects. Despite over 125 years of mining in the Sudbury area, very large and high grade deposits continue to be discovered. The Parkin Offset Joint Venture covers 9.5kms of the Parkin Offset Dyke in Sudbury. Offset dykes are a primary ore hosting environment in the Sudbury basin, accounting for about one quarter of Sudbury s total mineral inventory. They are compelling exploration targets. Past production records from the Milnet Mine, the recent discovery of the Milnet 1500 Zone, the Parkin resource, and the Brady Showing (all discussed in previous sections) demonstrate that the Parkin Offset dyke is mineralized and has the potential for significant grades of PGEs along with copper, nickel and gold. Work to date includes reconnaissance scale drilling and borehole geophysics over large parts of the dyke with more detailed drilling and geophysics in several areas. This work was successful in discovering and extending the Milnet 1500 Zone, below the historical Milnet Mine, as well as down dip extensions of the South Zone Extension and 25 North Zone on the Parkin Xstrata property. The most recent 2011 program on the Champion Bear North Block greatly increased our understanding of the northern bend in this dyke, an area that warrants significant further work. Additional drilling has the potential to expand the Milnet 1500 Zone to shallower depths, both up-dip along the western contact (Target 1) and up-plunge to the south (Target 2) (Figure 7). There is also potential to expand the mineral resource on the Xstrata Parkin property to depth (Targets 3 and 4 on Figure 7). Finally, large favourable parts of the Parkin Offset dyke have simply not been tested and pose numerous relatively shallow exploration targets. 66

68 Figure 7: Longitudinal section with 100m BHEM tubes, BHEM plates, the interpreted Parkin Fault and target areas. 67

69 Figure 8. Longitudinal view showing drilling pierce points through the Parkin Offset dyke, BHEM plates, and target areas. 68

70 Much of the dyke from the Milnet area and to the south has been tested by steep longitudinal platform holes surveyed with borehole EM. Several significant gaps remain that have not been tested by these platform holes, particularly given recent interpretation of the Parkin Fault and the northeast trajectory of the Parkin Offset in the area of the Milnet 1500 Zone. Given recent observations regarding the gabbro at Milnet, the Parkin Fault, and BHEM surveys, continued data review and detailed geological interpretation will add significant value in terms of identifying and prioritizing drilling targets to test. Significant more work is warranted to explore the large-scale discovery potential remaining on the property. These items are discussed in more detail below and recommendations are made for further work WALLBRIDGE MILNET PROPERTY Mineralization at depth below the historical Milnet Mine was one of the original exploration targets identified for the Milnet property. Underground diamond drilling in the 1950 s intersected narrow bands of high-grade mineralization below the mine workings. Drilling and down-hole geophysics between 2000 and 2003 intersected minor mineralization in the same area with indications of small conductive zones to a depth of about 400 metres. Diamond drilling over the last four years was successful in discovering PGE-enriched semi-massive to massive copper-nickel sulfide mineralization at a depth of about 1,500 metres beneath the #2 orebody at the Milnet Mine (Figure 9). This mineralization is now referred to as the Milnet 1500 Zone, and is discussed in its own section below THE MILNET 1500 ZONE The Milnet 1500 Zone was originally identified from BHUTEM in WMM-010 and WMM-010-W1; follow-up drilling included the following intercepts: 69

71 Discovery hole (WMM-014) intersected a PGE-enriched portion of the zone, assaying 8.0g/t TPM (Pt+Pd+Au), 2.57% Cu and 0.78% Ni over metres; WMM-014-W1 intersected 2.46g/t TPM, 0.96% Cu, 0.44% and Ni over metres; WMM-014-W2 intersected a first zone of 2.11g/t TPM, 1.05% Cu, and 0.72% Ni over 8.00 metres, and a second zone of 4.61g/t TPM, 0.42% Cu, 1.55% Ni over 1.47 metres, WMM-015 intersected 0.20g/t TPM, 0.09% Cu, and 0.09% Ni over 23.10m, WMM-015-W2 intersected 4.32g/t TPM, 0.60% Cu, and 4.11% Ni over 8.0 metres, and WMM-018-W3 intersected 3.14g/t TPM, 1.00% Cu, and 0.74% Ni over 2.23m. Mineralization at the Milnet 1500 Zone occurs along the offset dyke margin and is associated with Sudbury breccia, large blocks of Nipissing Diabase, silicified metasedimentary rocks, pinch structures in the QD, and Nipissing diabase in the country rock adjacent to the dyke. These features are associated with other offset dyke deposits elsewhere in Sudbury (Lightfoot and Farrow, 2002), including at Victoria and Copper Cliff. The 2012 drilling program extended the Milnet 1500 Zone mineralization greater than 100 metres down plunge. Drilling also confirmed the location and orientation of the Parkin Fault as well as the vertical pinch or gap in quartz diorite beneath the Milnet Mine. The Milnet 1500 Zone occurs along the western contact of the Parkin Offset dyke, either adjacent to a very large gabbroic block or within a narrow parallel splay of the dyke cutting the gabbro. Modelling of borehole EM suggests that the Milnet 1500 Zone forms a greater than 400 metre long rod that plunges shallowly to the northeast and remains open up-plunge (Figure 9) to the southwest and possibly down-plunge as well. It is also possible that the shallow northeast plunge of the Milnet 1500 Zone is an artefact of the drill intersections being aligned along this trend. There is potential that the Zone 70

72 has a steeper plunge or occurs as one of several stacked zones along the western contact of the dyke. The Parkin Offset dyke in the area of the Milnet Mine and the southern part of the CBA Parkin north block is very complicated and there is significant uncertainty as to what the dyke is doing and where it extends in the subsurface. Dyke geometry in the area, including the bends mapped at surface, and changes in orientation at depth may be influenced by: 1. intrusion along pre-existing conjugate structures in the host rocks, or 2. en echelon tears in the dyke, possibly due to refraction of propagating fractures across boundaries like the sediment/gabbro contact; and 3. displacement across the Parkin fault and related splays. Additional drilling is warranted to test the up-dip of the western contact of the Parkin Offset dyke above the Milnet 1500 Zone as well as the up-plunge of the Milnet 1500 Zone to the south. Detailed geological modelling will be important to prioritize the best drill targets. 71

73 Figure 9: Perspective diagram showing the Milnet area with drilling targets. 72

74 25.2 BRADY SHOWING AREA, CHAMPION BEAR SOUTH BLOCK The Brady Showing on the Champion Bear South Block includes 11.2% Cu, 0.6% Ni, 9.2g/t Pt, 4.3g/t Pd and 1.6g/t Au channel sampled over 2.70 metres at surface. Only one deep hole, BP-2X, had tested beneath this zone, intersecting weakly mineralized inclusion bearing quartz diorite, and ultramafic wall rocks to a depth of approximately 775m below the Brady showing. The PGE grades at surface, favourable host rock lithologies and disseminated mineralization make this area a very compelling target. Drilling has tested the dyke on the property at a nominal spacing of metres to a depth of about 800 metres with the holes extending to approximately 1,000 metres (Figure 10). BHUTEM surveys identified one small conductive plate southwest of the Brady showing which remains untested. As well, RIM surveys identified several broad anomalies at depth that have not been explained by drilling. The property remains virtually unexplored below 1,000 metres. Additional work is warranted on the property. WCB-006 intersected a 10 metre section with anomalous gold including 44g/t Au over 1.4 metres from metres to metres. The region has a number of significant gold occurrences (Meyn, 1970) and this is an encouraging discovery that has not been followed up. 73

75 Figure 10: Compilation Brady Showing Area. 74

76 25.3 PARKIN XSTRATA PROPERTY The Xstrata Parkin Property has been explored since From 1952 to 1953, Northbridge Mines Ltd., a wholly owned subsidiary of Falconbridge, defined two zones of near surface mineralization now known as the South Zone and the North Zone separated by a gap of about 250m, which was not adequately tested by drilling. Further drilling by Falconbridge in the 1990 s and by Wallbridge between 2000 and 2002, led to a resource estimate being prepared in 2002 for the North and South Zones, as well as three adjacent zones. Drilling prior to 2010 extended the South Zone down-dip with a 7.02 metre intersection of 2.31g/t TPM, 0.64% Ni and 0.66%Cu in WMP-134 from m. Drilling also extended the 25S Zone down-dip with a 3.26 metre intersection of 3.3g/t TPM, 0.68% Ni and 3.01% Cu in WMP-131 from m. Numerous small UTEM and Pulse EM responses occur below the Parkin resources. The UTEM indicate a shallow plunge while the Pulse EM indicates possible multiple zones with a sub-vertical plunge. WMP-002 ended at about 500m depth, below that area is a m wide area with no borehole geophysical coverage. This area should be tested in the event that the mineralization has a steeper than interpreted plunge. A number of steep longitudinal geophysical platform holes have been drilled to 1,200m at m intervals along the QD dyke on the Xstrata Parkin property. The down-hole geophysical EM surveys have been completed for all of the holes; however, none of the holes were surveyed with gyro. It is possible that these surveys would not be able to detect broad, low amplitude, early channel responses that would be expected from a massive sulphide conductor at some distance from the hole. 75

77 Figure 11: Xstrata Parkin Property. 76

78 The southern part of the Parkin mineral resource is the most strongly mineralized and has been extensively delineated to 180m depth. However, newly interpreted pinches and large blocks indicate that the southern portion of the resource has not been tested below 400 metres depth. The Parkin Fault is projected to cut through the Parkin Offset dyke at much shallower depths on the Xstrata Parkin property. Re-logging of some holes has identified the fault but it appears to be more complicated in this area with multiple splays. No linear markers have been identified and displacement across the fault is not well constrained. Faulting of the QD (Figure 11) compounds the possibility that the steep longitudinal geophysical platform holes that exited the dyke at shallow depths may not provide thorough coverage of the dyke at depth. A similar large gap in the drilling and borehole geophysics coverage occurs at the very southern part of the property, beneath a large mafic block identified in the dyke at surface and in an area with abundant meta-breccia. Meta-breccia (anatexite), is a very favourable host rock in the Offset environment in Sudbury, particularly for more fractionated sulphide mineralization with elevated PGEs. Large portions of the Parkin Offset dyke are untested in the metre depth range. Other than at Milnet, the dyke is completely untested below about 1200 metres CHAMPION BEAR NORTH BLOCK Results from the 2011 program, including drilling and stripping, provide a much better understanding of the Parkin Offset dyke and potential for mineralization on the Champion Bear North Block. The bend in the dyke mimics the bend at the Milnet Mine. Exposure of IQD and blebby mineralization in the stripping near the collar of WMM-012, the complex structure of the dyke on the northwest striking trend, and the presence of gabbroic host rocks indicate this area should be a high priority for further exploration. As noted above, north of the Milnet 1500 Zone the dyke is largely unexplored below a depth of several hundred metres. 77

79 Excavations on the north part of the Champion Bear North Block helped confirm the location of the dyke. Exposed sections of IQD and minor sulfide mineralization justify further interpretation and exploration. 26 RECOMMENDATIONS Significant further work is recommended to fully explore the Properties potential for mineable nickel, copper and platinum group element mineralization. Currently, $5.0 M exploration including drilling and geophysics is recommended (Table 9), to include additional geological modelling, 5 drill holes and two wedge-cuts totalling 8,800 metres and 7,500 metres of contingency drilling is warranted. All drill hole collars should be surveyed with BHUTEM while the drill is still on site to ensure the holes are open. Drill hole collars and BHUTEM loops should be surveyed with sub-metre accuracy GPS and drill holes should be surveyed with north seeking Gyro. 78

80 Table 9: Recommended program. 79

81 27 REFERENCES Ames, D.E., and Farrow, C.E.G. (2007) Metallogeny of the Sudbury mining camp, Ontario, in Goodfellow, W.D., ed., Mineral Deposits of Canada: A Synthesis of Major Deposit-Types, District Metallogeny, the Evolution of Geological Provinces, and Exploration Methods: Geological Association of Canada, Mineral Deposits Division, Special Publication No.5, p Ames, D.E., Davidson, A., Buckle, J.L., and Card, K.D. (2005) Geology, Sudbury bedrock compilation, Ontario; Geological Survey of Canada, Open File 4570, scale 1: Card, K.D., and Innes, D.G. (1981) Geology of the Benny Area, District of Sudbury. Ontario Geological Survey Report 206. Card, K.D., and Meyn, H.D. (1969) Geology of the Leinster-Bowell Area, District of Sudbury. Geological Report 65. Cluff, G.H. (1975) Data Compilation. Property Submission to Falconbridge Nickel Mines Limited. Internal Report. Croteau, M. (2010) 2010 Report On The Parkin Offset Properties, Sudbury, Ontario. Croteau, M. (2009) 2009 Report On The Parkin Offset Properties Sudbury, Ontario. Croteau, M. (2008) 2008 Report On The Parkin Offset Properties Sudbury, Ontario. Dunks, L.T. (1986) An Investigative Feasibility Report Relative to the Assessment and Mining of Possible Ore Remaining in the Crown and Sill Pillars of the Mined Out Jonsmith Mines Ltd. Located in Parkin Township, Ontario. 80

82 Eckstrand, O.R., and Hulbert, L.J. (2007) Magmatic nickel-copper-platinum group element deposits, in Goodfellow, W.D., ed., Mineral Deposits of Canada: A Synthesis of Major Deposit Types, District Metallogeny, the Evolution of Geological Provinces, and Exploration Methods: Geological Association of Canada, Mineral Deposits Division, Special Publication No. 5, p Farrow, C.E.G., Frayne, M., and Ramnath, S.M. (2008) Technical Report on Mineral Properties in the Sudbury Basin, Ontario an update to December 31, 2007 for FNX Mining Company Inc. INCO (1986) Assays for J. Brady, Parkin Township, AFRI File: 41I15SW0035. Levesque, R. (2002) Geological Field Mapping of the Milnet Property. Internal Report. Lightfoot, P.C., and Farrow, C.E.G. (2002) Geology, Geochemistry, and Mineralogy of the Worthington Offset Dike: A Genetic Model for Offset Dike Mineralization in the Sudbury Igneous Complex. Economic Geology, Vol. 97, no. 7, p Lightfoot, P.C., Naldrett, A.J., and Morrison G. (1997) Sublayer and Offsets Dikes of the Sudbury Igneous Complex an Introduction and Field Guide, Ontario Geological Survey, Open File Report 5956, 37p. Meyn, H. (1970) Geology of Hutton and Parkin Townships: Ontario Department of Mines, Geol. Report 80, 78 p. Northbridge Mines (1953) Progress Report, Parkin Township Property. Peredery, W.V. (1998) Exploration in the Deep Footwall Environment of the Sudbury Structure for Wallbridge Mining Company Limited. Internal Report. 81

83 Soever, A. (2002) Mineral Resource Estimate and Assessment of the potential for Economic Mineralization on the Parkin Property for Wallbridge Mining Company Limited Sweeny, M. (1990) Surface Stripping and Sampling Report 1990, Northbridge Property (PN 6-245), Parkin and Norman Townships, Falconbridge Ltd. Internal Report. Tirschmann, P.A. (1990) Diamond Drilling Summary Report, Northbridge (6-245), Parkin/Norman Townships: Falconbridge Ltd. Internal Report. Tirschmann, P.A. (1990) Geology Report, Northbridge (6-245), Parkin/Norman Townships. Watts, Griffis and McOuat Limited (2003) Report on the 2002 Diamond Drilling Program, Parkin Township, Sudbury, Ontario for Champion Bear Resources Ltd. Watts, Griffis and McOuat Limited (2001) Valuation of the Business Assets of Wallbridge Mining Company Limited for Wallbridge Mining Company Limited. Watts, Griffis and McOuat Limited (2000) Addendum to the Report of Properties in the Sudbury and Shining Tree Areas, Ontario and Lake County, Minnesota for Wallbridge Mining Company Limited. Watts, Griffis and McOuat Limited (1999) Report on Properties in the Sudbury and Shining Tree Areas, Ontario and Lake County, Minnesota for Wallbridge Mining Company Limited. 82

84 DATE AND SIGNATURE PAGE This report, titled Technical Report on the Parkin Offset Properties, Sudbury, Ontario, dated effective December 31, 2012, was prepared and signed by the following author: Effective as of December 31 st, Joshua Bailey, M.Sc. P.Geo. This 10 th day of March,

85 CERTIFICATES OF QUALIFIED PERSONS I, Joshua Bailey, M.Sc., P.Geo, as an author of this report titled Technical Report on the Parkin Offset Properties, Sudbury, Ontario, prepared for Wallbridge Mining Company Limited and dated effective December 31, 2012, do hereby certify that: I am currently employed as Vice President of Exploration with Wallbridge Mining Company Limited of 129 Fielding Road, Lively, Ontario, P3Y 1L7. As an employee of Wallbridge Mining, I do not qualify as an independent Qualified Person. I am primarily responsible for all sections of this report and have most recently visited the Property in November 2012 during the most recent drilling program. I am a Qualified Person as defined in National Instrument I am a member in good standing of the Association of Professional Geoscientists of Ontario (#1512). I graduated from Laurentian University 2004 with a M.Sc. in Earth Science, and have been practicing my profession continuously since that time. I have experience working in the Sudbury area. My M.Sc. thesis project was completed at Thayer Lindsley Mine in Sudbury from From 2004 to the present I have worked continuously with Wallbridge conducting exploration in Sudbury, Northeastern Ontario, British Columbia and Nunavut. I am not aware of any material fact or change with respect to the subject matter of this technical report which is not reflected in the technical report effective December 31 st, Exploration of the property is ongoing and an updated technical report may be prepared in the future. This technical report has been prepared by me for use in conjunction with Wallbridge s Annual Information Form (AIF) and other corporate purposes. I have read National Instrument and Form F1. This technical report has been prepared in compliance with those documents. Effective as of December 31 st, Joshua Bailey, M.Sc. P.Geo. This 10 th day of March,