Abandonment and Reclamation

Presented by:

Court Smith,

Vice President

Nuna Logistics

Nuna Logistics’ Ownership

Federal Registered Company 1993

25.5% Kitikmeot Corporation

25.5% Nunasi Corporation

49% Management Group

Specializing in Northern Canadian Operations

Nuna Logistics’ Business

Mining Industry Nunavut & NWT Contract Mining Earthworks Construction Dam and Dike Construction Winter and All-weather Roads Site Services Crushing Logistics Support

Nuna Logistics’ Experience

EKATI Diavik Winter Road Lupin Snap Lake

Nuna Logistics’ Work with Tahera

Assisted in the field from early phases of exploration

Provided site development and open pit mining cost estimates for various stages of study work

Reclamation cost estimate

Nuna Logistics - Misery Site (Ekati)

Misery Site is of Similar Size to the Projected Jericho Site

Misery is part of BHPBilliton’s Ekati Mine and is Located 30km from the Ekati Plant Site

Nuna Developed & Operates Misery

Jericho

Abandonment & Reclamation

Jericho Reclamation Estimate

Prepared by Nuna Logistics Limited and

based on Contractor-performed work

Based on Tahera Quantities & Scope

Quantities Checked for Reasonableness

Scope Checked for Completeness

Site Assumptions

Surface facilities such as the camp, office complex, dry, and shop are Nuna owned and operated

Waste dumps would be reclaimed pre-closure however costs are included in the estimate

Some progressive reclamation has been assumed

Reclamation Assumptions

Waste Dump 1 and 2 Reclaimed in Year 5 Edges sloped, overburden layer on upper bench

PKC Area Liner contingency included East Cell reclaimed pre-closure West Cell reclaimed end of processing Coarse PK cover overlain with overburden

Pads Edges dozed, surface scarified

Reclamation Assumptions

Roads Edges dozed, surface scarified

Coarse Kimberlite Rejects Dump Slopes dozed and covered with overburden Upper bench covered with overburden

Low Grade Stockpile Edges dozed, upper bench covered

Facilities Almost all facilities disassembled and removed

Major Reclamation Requirements

Mobile Equipment Caterpillar 992 Loader Caterpillar 777 Trucks (100 ton) Caterpillar D10 Dozer Crane (70 ton) Caterpillar 16H Grader

Facilities Camp Shop Fuel Tankage Generators

Jericho Reclamation Estimate

Estimate

Crown Lands $5,945,174

Inuit Owned Lands $1,250,433

$7,195,607

Jericho Reclamation Cost Breakdown

Mobilization/Demobilization $ 285,000 Disassembly of Facilities 2,269,698 Waste Dump 657,280 PKC and Remaining Areas 1,013,419 Nuna Overheads 697,264 Support Facilities & Equipment 690,000 Southbound Transport 928,800 Contingency 654,146

7,195,607