Resource Estimate
This first Matthews Ridge mineral resources estimate was prepared by Mr. Rejean Sirois, ing., P. Geo., of G Mining Services Ltd. ("GMining"), a Canadian mining consulting firm, for the four types of mineralized materials forming the deposits (defined in Appendix 1). It encompasses over 65 thousand metres of drilling completed by Reunion between 2011 and 2012. The resources have been categorized as measured, indicated or inferred. They have been estimated on an unconstrained basis, as well as, on a constrained basis in a Whittle shell with the utilisation of metallurgical, economical and geotechnical constraints. The results are tabulated below. See Appendix 1 for additional information on parameters and methodology used for resource estimates. (Appendix 1 is available at the following address: http://media3.marketwire.com/docs/appendix1_0221.pdf)
Table 3: Constrained Resources - Measured, Indicated and Inferred - Matthews Ridge (Hills 1 to 9)
----------------------------------------------------------------------------Resource Lump Fine Total Classification Tonnage Grade Concentrate Concentrate Concentrate ------------------------------------------------------------- ('000 t) % Mn ('000 t) %Mn ('000 t) %Mn ('000 t)----------------------------------------------------------------------------Measured 15,655 15 3,269 38 1,705 36 4,974----------------------------------------------------------------------------Indicated 13,508 13 1,945 38 1,465 36 3,410----------------------------------------------------------------------------Total M&I 29,163 14 5,214 38 3,170 36 8,384----------------------------------------------------------------------------Inferred 2,786 16 608 39 353 37 961----------------------------------------------------------------------------Table 4: Unconstrained Measured Resources - Matthews Ridge (Hills 1 to 9)
---------------------------------------------------------------------------- Lump Fine TotalCutoff grade Tonnage Grade concentrate concentrate concentrate----------------------------------------------------------------------------%Mn ('000 t) %Mn ('000 t) %Mn ('000 t) %Mn ('000 t)----------------------------------------------------------------------------15% 6,968 19 2,071 41 1,119 39 3,189----------------------------------------------------------------------------10% 13,426 18 3,241 40 1,696 37 4,936----------------------------------------------------------------------------8% 16,987 14 3,535 39 1,861 37 5,396----------------------------------------------------------------------------6% 23,760 12 3,546 28 1,861 26 5,407----------------------------------------------------------------------------Table 5: Unconstrained Indicated Resources - Matthews Ridge (Hills 1 to 9)
---------------------------------------------------------------------------- Lump Fine TotalCutoff grade Tonnage Grade concentrate concentrate concentrate----------------------------------------------------------------------------%Mn ('000 t) %Mn ('000 t) %Mn ('000 t) %Mn ('000 t)----------------------------------------------------------------------------15% 3,832 18 751 40 605 38 1,356----------------------------------------------------------------------------10% 11,221 14 1,799 39 1,337 36 3,136----------------------------------------------------------------------------8% 15,388 13 2,174 38 1,570 36 3,744----------------------------------------------------------------------------6% 20,175 11 2,422 37 1,721 34 4,143----------------------------------------------------------------------------
