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Mineral Resources & Reserves

The baseline estimation and classification of the mineral resources was completed by AMEC and described in the Gahcho Kué Kimberlite Project NI 43-101 Technical Report (AMEC 2009). Additions and modifications to the AMEC mineral resource are summarized in the Update of the Mineral Resource Estimate for the Tuzo Kimberlite, Gahcho Kué Project, Northwest Territories, Canada NI 43-101 Technical Report (Mineral Services, 2013) as a result of an additional Tuzo deep drilling program undertaken in 2012 that defined Tuzo Deep mineral resources greater than 300 meters below surface. The baseline resource (AMEC 2009) and the Tuzo Deep Resource (Mineral Services 2013) were compiled by JDS in the 2014 Gahcho Kué Technical Report and Feasibility Study (JDS, 2014).

The estimation and classification of Gahcho Kué mineral resources was updated at the end of 2017 and are summarized in Table 1-1. Resources that were already mined and stockpiled at the time of the 2017 update are summed separately from the remaining in-situ resources. The resource estimate is inclusive of all potential reserves.

JDS has reviewed the resources and compared them to those in the 2014 Technical Report (JDS, 2014). JDS believes that depletion and modifying factors applied to generate the updated resource are reasonable and provide an accurate and complete basis for state of the resource (December 31, 2017). Resources are exclusive of mineral reserves. Refer to tables on pages 1-5 and 1-6 of NI 43101