john j. gardiner & associates, llc · geological consultants denver, colorado, u.s.a. ii report on...

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Report on 2011 Exploration Diamond Drilling

Marskinkuusikko Gold Property Lapland, Finland

Taranis Resources Inc. SUMMARY REPORT

John J. Gardiner & Associates, LLC ________________________________________________ GEOLOGICAL CONSULTANTS Denver, Colorado, U.S.A.

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Report on 2011 Exploration Diamond Drilling

Marskinkuusikko Gold Property

Lapland, Finland

TECHNICAL REPORT

Prepared for

Taranis Resources Inc. 14247 West Iliff Avenue

Lakewood, Colorado U.S.A. 80228

Friday, May 20, 2011

John J. Gardiner & Associates, LLC ________________________________________________

GEOLOGICAL CONSULTANTS

14247 West Iliff Avenue Lakewood, Colorado, 80228-5421

U.S.A.

Phone: (303) 716-5922

Fax – (303) 716-5925; email – [email protected]

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TABLE OF CONTENTS

1. INTRODUCTION AND TERMS OF REFERENCE ........................................... 1

2. LEGAL DESCRIPTION .......................................................................................... 1

3. ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY .................................................................................................. 2

Regional .......................................................................................................................... 2 General Location ............................................................................................................ 2 Project Logistics ............................................................................................................. 2 Detailed Mining Claim Location and Description ......................................................... 4 Physiography .................................................................................................................. 6

4. GEOLOGIC SETTING ........................................................................................... 6 Regional Geologic Setting .............................................................................................. 6 Geology ......................................................................................................................... 10

5. DIAMOND DRILLING ......................................................................................... 10 Drill Hole Casings ........................................................................................................ 10 Drill Hole (GPS) Positioning........................................................................................ 10 SAMPLING METHOD AND APPROACH ................................................................... 11

Drill Core Sampling .................................................................................................. 11 Qualitative Criteria.................................................................................................... 11

6. RELIABILITY OF DATA ..................................................................................... 12

7. ANALYSES SAMPLE PREPARATION, ANALYSIS AND SECURITY ........ 12 Sample Preparation ...................................................................................................... 12 Crushing ........................................................................................................................ 12 Sample Analysis ............................................................................................................ 13 Security ......................................................................................................................... 13 Quality Control ............................................................................................................. 13

8. Results of Diamond Drilling ................................................................................... 15 Drill Hole M-1 (-50O) ................................................................................................... 15

General Description: ................................................................................................. 15 Analytical Results: .................................................................................................... 16

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Geochemistry: ........................................................................................................... 16 Magnetic Susceptibility and Explanation of Ground Geophysical Anomaly ........... 16

Drill Holes M-2 (-50O) & M-3 (-50O) ........................................................................... 19 General Description (M-2): ....................................................................................... 19 Analytical Results (M-2): ......................................................................................... 19 Geochemistry (M-2): ................................................................................................ 19 Magnetic Susceptibility and Explanation of Ground Geophysical Anomaly (M-2): 19 General Description (M-3): ....................................................................................... 20 Analytical Results: .................................................................................................... 20 Geochemistry (M-3): ................................................................................................ 20 Magnetic Susceptibility and Explanation of Ground Geophysical Anomaly ........... 20

Drill Holes M-4 (-50O) & M-5 (-50O) ........................................................................... 24 General Description (M-4): ....................................................................................... 24 Analytical Results (M-4): ......................................................................................... 24 Geochemistry (M-4): ................................................................................................ 25 Magnetic Susceptibility and Explanation of Ground Geophysical Anomaly (M-4): 25 General Description (M-5): ....................................................................................... 25 Geochemistry (M-5): ................................................................................................ 25 Magnetic Susceptibility and Explanation of Ground Geophysical Anomaly (M-5): 25

9. INTERPRETATION AND CONCLUSIONS ...................................................... 27 Interpretation ................................................................................................................ 27 Conclusions ................................................................................................................... 29

10. RECOMMENDATIONS ..................................................................................... 29

11. REFERENCES ..................................................................................................... 30

12. CERTIFICATE OF AUTHOR ........................................................................... 31

LIST OF FIGURES Figure 1 - Location of Marskinkuusikko Project, Finland .................................................. 1 Figure 2 - Map showing location of Marskinkuusikko Property relative to the main roads in the area. The purple color road is used to access the extreme east side of the property and the boat that is used to access the main property area. ................................................. 3 Figure 3 - Detailed Location Map - Marskinkuusikko Project showing the location of the boat crossing required to access the property during non-frozen time of the year. In the winter, access to the property is made via a logging road that extends to the north end of the property. ........................................................................................................................ 5 Figure 4 - Geological Map of Kittilä Area, Lapland .......................................................... 7 Figure 5 - Aeromagnetic map of the Kittilä Mine area and Marskinkuusikko, also showing the Sirkka Fault and the Kettukuusikko Property. The yellow line shows the

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trace of a magnetic horizon that extends into the Kittilä Mine that is most likely related to an iron-rich volcanic horizon that is now highly folded (after GTK website) .................... 8 Figure 6 - Geological cross-section of the Kittilä Gold Mine showing the presence of mafic volcanics and the occurrence of highly sheared and brecciated rocks within a structural corridor (after Patison, 2004) .............................................................................. 9 Figure 7 - Cross-Section Drill Hole M-1 .......................................................................... 14 Figure 8 - Sulfide-rich Iron formation from drill hole M-1 showing stratigraphic banding of the sulfides and tectonic boudinage of the pyrite-rich bands. ...................................... 15 Figure 9 - Cross-Section Drill Hole M-2 .......................................................................... 17 Figure 10 - Cross-Section Drill Hole M-3 ........................................................................ 18 Figure 11 – Primary pyrite banding forming sulfide-rich iron formation in drill hole M-3 at 42.33 m down-hole ....................................................................................................... 21 Figure 12 - Cross-Section Drill Hole M-4 ........................................................................ 22 Figure 13 - Cross-Section Drill Hole M-5 ........................................................................ 23 Figure 14 - Banded, sulfide-rich iron formation in drill hole M-4 within the interval 52.61 – 58.49 m down-hole. Sulfides have started to anneal in small metacrysts of pyrite owing to tectonic deformation. .................................................................................................... 24 Figure 15 – Some of the fine-grained pyrite that accompanies silicification in drill hole M-5, devoid of gold or arsenic. ......................................................................................... 26 Figure 16 - Gold Content versus Arsenic Content - Marskinkuusikko ............................ 27 Figure 17 - Gold Content versus Sulfur Content - Marskinkuusikko ............................... 28 Figure 18 - Sulfur Content versus Arsenic Content - Marskinkuusikko .......................... 28

APPENDICES Appendix 1 Diamond Drill Logs Appendix 2 Analytical Results Appendix 3 Dip Sheets Appendix 4 Magnetic Susceptibility Measurements Appendix 5 Sample Criteria

BACK POCKET Plate 1 Drill holes on ground magnetics and VLF

DATA PACKAGE Disk 1 Databases

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1. INTRODUCTION AND TERMS OF REFERENCE Taranis Resources Inc. has completed a small diamond drilling program on the Marskinkuusikko Property. Five drill holes were completed totaling 564.35 m. Prior to this in 2009, Taranis completed line-cutting, differential GPS surveying and geophysical surveying on that forms the basis for the location of the diamond drilling program. Sources for the data discussed in this report include geologic and geophysical databases generated by the GTK, as well as survey data collected from the 2009 exploration program undertaken by John J. Gardiner & Associates, LLC. This report describes the results of the diamond drilling program and follows guidelines set forth by the Canadian Securities Association and described in National Instrument 43-101- Standards of Disclosure for Mineral Projects, Companion Policy 43-101CP and Form 43-101F1 (Technical Report). 2. LEGAL DESCRIPTION

The Marskinkuusikko property is located in Northern Finland (Lapland) above the Arctic Circle (Figure 1). Taranis currently has three mineral exploration claims in the Marskinkuusikko area (Table 1 and Figure 2). An exploration claim in Finland entitles the holder (individual or company) to carry out exploration activities in the claim area with or without the consent of the landowner. The claimant must, however, compensate the landowner in full for any permanent or temporary damage or inconvenience caused by the exploration activities inside or outside the claim area. The claimant shall also act in compliance with Finnish environmental legislation, laws and regulations.

Figure 1 - Location of Marskinkuusikko Project, Finland

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Table I - Claims of the Marskinkuusikko Property

Exploration License

Register Expiration Date

(DD/MM/YY)

Hectares Ownership

Marskinkuusikko 1 8436/5 09/02/2014 81.5 100 % Marskinkuusikko 2 8436/6 09/02/2014 100 100 % Marskinkuusikko 3 8436/7 09/02/2014 100 100 %

3. ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE

AND PHYSIOGRAPHY Regional

The Marskinkuusikko Property is located approximately 4 km southwest of the town of Kiistila in Northern Finland. Although infrastructure is excellent in the area, the property occurs in an area that is impossible to access by ATV or 4X4 vehicle, and all of the activities on the property need to be completed by walking. General Location

The Marskinkuusikko Project is accessed from a road that extends southwest from the town of Kiistila. A gravel road extends for approximately 2 km west of the road (shown in purple on Figure 2) and can be driven by 4X4 vehicle except for the last 1 km which is too swampy to permit passage of a vehicle. A small portion of the property lies on the east side of the Seurujoki River, and the area has recently been clear-cut for logging. The bulk of the property lies on the west side of the Seurujoki River, and cannot be accessed in the summer time by vehicle owing to a complete absence of roads on the west side of the river. The river cannot be crossed on foot, and a row boat is necessary to cross the Seurujoki River. Once the river is crossed, the bulk of the property can be accessed on foot. During the winter of 2011/2012, a logging company began logging operations in an area located northwest of the property, and built a road that extends from the town of Lintula to the northwest corner of the property. This road was used to conduct the winter drilling and significantly eased the difficulty in crossing the Seurujoki River. Project Logistics

Gasoline and accommodation are readily available in the town of Kittilä. The property was accessed daily by taking a 4X4 truck to the property south from the town of Lintula. Drill core was transported from the project to Sodankylä where it as stored, logged and

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sampled. Analyses were conducted at the Labtium Oy facilities in Sodankylä after the core was sawed in half. One half of the core is stored in Sodankylä as a geological reference. Access to the property is relatively easy during the winter months as the ground is frozen and heavy equipment can be easily passed over the swampy areas.

Figure 2 - Map showing location of Marskinkuusikko Property relative to the main roads in the area. The purple color road is used to access the extreme east side of the property and the boat that is used to access the main property area.

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Detailed Mining Claim Location and Description

The Marskinkuusikko 1 Claim occurs on a small topographic high and straddles the Seurujoki River. On the west side of the river, there is a logging trail that ends in a small loop, and this road is used to access this claim. The southwest portion of the claim is covered by swamp, and passage in this area is relatively easy. The Marskinkuusikko 2 Claim is located in an area that is covered by lowland swamp, and portions of this claim (western half) are not passable on foot in the summer. The east side of the property is the most important and was covered by swamp in its entirety. Although the west side of this claim occurs on the flank of a gently rolling hill, the area immediately east of this was impassible owing to the presence of open water in swampy areas. The Marskinkuusikko 3 Claim occurs on the north end of the Marskinkuusikko 2 Claim and is extremely difficult to access in the summer. Only the west side of the Mining Claim could be geophysically surveyed in 2009 owing to the presence of open swamp and water on the east side of the Claim, but this deemed the most critical part of the Marskinkuusikko 3 Mining Claim.

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Figure 3 - Detailed Location Map - Marskinkuusikko Project showing the location of the boat crossing required to access the property during non-frozen time of the year. In the winter, access to the property is made via a logging road that extends to the north end of the property.

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Physiography

The bulk of the property consists of swamps and low-relief rolling hills that are covered by pine, fir and birch trees. In the elevated areas, passage is extremely easy and there is open forest. The extensive swamp on the property makes passage extremely difficult during the summer and the east half of Marskinkuusikko 1 and the west half of Marskinkuusikko 2 is swamp with open water, and cannot be passed on foot in the summer. Much of the physiography of the swamp is controlled by the underlying geology, and the areas that are pronounced swamp are probably underlain by recessive weathering sedimentary / tuffaceous volcanic rocks. 4. GEOLOGIC SETTING

Regional Geologic Setting

The Marskinkuusikko property is located in the northern part of the Fennoscandian Shield where Paleoproterozoic supracrustal rocks cover the Archean basement as an almost complete zone extending from northern Norway through central Finnish Lapland and into Russia. This zone has been named the Lapland Greenstone Belt (“LGB”). The Finnish part of the LGB extends from Enontekiö and Kolari through Kittilä and Sodankylä to Salla and is called the Central Lapland Greenstone Belt (“CLGB”). This belt has been divided into five volcanic and sedimentary dominated lithostratigraphic groups, which are from oldest to youngest, the Salla, Onkamo, Sodankylä, Savukoski and Kittilä groups (Figure 4). These groups are separated by a major unconformity from the overlying Lainio and Kumpu groups that are dominated by coarse-grained sedimentary rocks (Eilu et al., 2001). The contact between the Kittilä and Savukoski groups is an east-west, southeast-northwest trending tectonic lineament called the SSZ, which has many similarities to the Porcupine Destor Fault Zone in Ontario and the Cadillac Break in Quebec. The Kittilä Gold Mine (also known as the Suurikuusikko Deposit) is located along a major northeast-trending structure known as the Kiistila Shear Zone (Figure 5) and the geology is discussed by Patison (2004)

Similarities to Abitibi-type gold deposits include the alignment of gold deposits along these structures as well as hydrothermal alteration and deformation styles related to gold deposits. Significant deposits found within the SSZ include the Sirkka-Kaivos gold deposit, which operated as a mine from 1955 to 1957; the Saattopora gold-copper deposit, which was mined from 1988 to 1995 by Outokumpu and produced 2.163 million tonnes of ore grading 2.9 grams of gold per tonne and 5,177 tonnes of copper; and the

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Suurikuusikko gold deposit with an indicated and inferred resource of 11.5 million tonnes grading 5.4 grams of gold per tonne.

Similar to other major tectonic breaks found in Canadian gold mining districts, the Kiistila Shear Zone and the SSZ has poor outcrop exposure but is readily identifiable on aeromagnetic maps (Figure 5) and the GTK has suggested that northwest-southeast and north-south trending faults crosscut the SSZ and may be important in localizing gold mineralization in the area. Geological mapping indicates that the SSZ is an early structure

Figure 4 - Geological Map of Kittilä Area, Lapland

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that has been reactivated and deformed multiple times. Tectonic activity along the SSZ has generated a structural boundary between the sedimentary rock dominated stratigraphy to the south of the fault and the volcanic rock dominated terrain to the north of the SSZ.

Figure 5 - Aeromagnetic map of the Kittilä Mine area and Marskinkuusikko, also showing the Sirkka Fault and the Kettukuusikko Property. The yellow line shows the trace of a magnetic horizon that extends into

the Kittilä Mine that is most likely related to an iron-rich volcanic horizon that is now highly folded (after GTK website)

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Figure 6 - Geological cross-section of the Kittilä Gold Mine showing the presence of mafic volcanics and the occurrence of highly sheared and brecciated rocks within a structural corridor (after Patison, 2004)

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Geology

There was no outcrop exposure on the property, and the cover consists of glacial material of variable thickness, typically 1.5 – 6.0 m thick. The presence of several hills on the property indicate that the depth to bedrock is not all that great (2-10 meters), and could be possibly reached using an excavator. 5. DIAMOND DRILLING

Drill Hole Casings

All of the drill hole casings were removed at the end of the drilling program, and the drilling sites were cleaned of any garbage. Drill holes were marked in the field with a wooden drill hole marker and flagging tape after completion. Drill Hole (GPS) Positioning

Collars were surveyed using a differential Global Positioning System (“GPS”), A Trimble GeoXH GPS (Serial Number 4819430886). The utilization of this device is important in Finland where 1-2 meters of snow can conceal the ground in the winter, and make it impossible to locate any flagged locations along the geophysical lines. The specifications for the unit can be found in Appendix 2. The Trimble® GeoXH™ handheld is engineered with H-Star™ technology, and the GeoXH handheld delivers decimeter (10 cm) to sub-foot (

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Coordinate system Finnish Uniform Coordinate System Geoid EGM96 (Global) Datum KKJ North Dip and Azimuth Surveying Drill hole dip measurements were taken every 10 meters down-hole using an electronic dip measuring device. The results of these surveys appear in the Appendix of this report, Marskinkuusikko Dip Sheets, M-1 though M-5. This data was incorporated into the drill hole database. Azimuth of the drill holes was not measured down-hole, but the initial azimuth was created using a Brunton Compass and GPS units. SAMPLING METHOD AND APPROACH

Drill Core Sampling Drill core was logged in the secure Labtium Oy core facility located in Sodankylä. The drill core was put on tables and the core was checked for errors in depth by measuring the amount of drill core in the boxes and comparing it to the measurement blocks that were put in the core boxes by the drillers. Rarely, it was found that the drillers had not identified areas of lost core and these were noted by adding blocks to the core boxes that noted these discrepancies, and mention was made of this in the geologic records of the drill holes. The core was also systematically checked for inversion of the core pieces in the box by fitting together all of the pieces of the core whenever possible.

Once the geology had been logged, portions of the drill holes were identified for sampling. Samples never crosscut geologic contacts, and sample intervals were kept to less than 1.5 m in length. In areas of potential mineralization, the sample length was kept less than 1 m in order that the geology and content of gold and other trace metals can be more adequately understood.

Qualitative Criteria During the sampling process, a number of qualitative physical parameters were also recorded, such as and estimate of the amount of pyrite, etc. (Marskinkuusikko Sample Criteria, M-1 through M-5, Appendix). These qualitative physical characteristics were recorded to identify those geological attributes that have a possible relationship to the gold content of the drill core. These characteristics included:

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Table VI – Physical Parameters Measured – Core Logging

Physical Parameter Scale Percent pyrrhotite Percent Percent pyrite Percent Percent chalcopyrite Percent Silicification 1 – 10 rating Brecciation 1 – 10 rating Total Sulfide Percent

Once the samples had been marked on the drill core and the core boxes with a felt-tip pen, the core were then stacked on pallets sent to the saw facility in Labtium Oy. 6. RELIABILITY OF DATA

The author has concluded that the quality and reliability of Taranis’ geologic and geochemical data is excellent. In the opinion of the author all drill core logging and drill core sampling procedures preformed by Taranis were standard and acceptable methods currently in use by the mining-exploration industry. 7. ANALYSES SAMPLE PREPARATION, ANALYSIS AND SECURITY

Sample Preparation

The pallets were shipped to Sodankylä via 4 wheel drive vehicle and stored inside the Labtium Oy facility. At the lab facility in Sodankylä, the pallets were opened and the core was again checked for any errors. Some representative intervals from the drill holes were photographed to demonstrate the geology and mineralization in the drill holes.

At the laboratory, each sample was sawed in half by rock saw, and one-half of the sample was prepared for analytical work, and was dried at 700C. The other half of the core was replaced in the core box, and was retained for geologic reference, as well as for further analytical work if required. Crushing

Rock samples as received by Labtium preparation Lab were dried at 700C, and underwent robotic crushing (Method 32), rotary splitting in a robotic cell (Method 34), and were sub-sampled in a robotic cell into one vial (Method 38).

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Sample Analysis

The samples were analyzed for both gold and for trace elements. The trace element analyses were completed using Method 511P which consists of an aqua-regia leach at 900C, and multi-element analyses by ICP-AES. Gold was determined using method 705P, which consists of lead fire assay pre-concentration (50 gram sub-sample) and determination of Au by ICP-AES technique. Method 703P consists of lead fire assay pre-concentration (10-15 gram sub-sample) and determination of Au by ICP-AES technique. The detection limit of gold is 5 ppb using this process. Security

As previously stated, samples collected in the field were transported directly to the Labtium facilities in Sodankylä. Further, the author has discussed with representatives of Labtium Oy security protocol and is satisfied that they meet reasonable stands for protection of sample integrity. Quality Control

In the author’s opinion, sampling techniques, sample quality, sample preparation, and security were adequate for exploration purposes; sampling procedures preformed by Taranis were standard and acceptable methods currently in use by the mining-exploration industry. Analytical procedures utilized on Taranis samples by Labtium Oy are considered standard for the industry.

Since the Marskinkuusikko property is an exploration-level project, no additional check (duplicate) or external blank samples were submitted by Taranis. Labtium Oy does have a comprehensive program in place for quality control. The laboratory is accredited by FINAS (testing laboratory T025) to meet the requirements of the SFS-EN ISO/IEC 17025 standard. The quality system is complying with the requirements of Standards Council of Canada (CAN-P-1579) “Guidelines for Accreditation of Mineral Analysis Testing Laboratories”.

The laboratory analyzed and reported a complete duplicate assay of minimum 5% of the samples (coded “U”). Reagent blanks (QCSOKEA), laboratory in-house samples and/or certified reference samples (e.g. CDN-Laboratories; QCCGS4) are also used and reported in the analytical data.

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8. Results of Diamond Drilling Five diamond drill holes were completed on the project (totaling 564.35 m). The target was a single stratigraphic horizon or closely related parallel horizons with EM targets located along the west limb of a large synclinal structure. Four of the five holes intersected semi-massive/massive sulfide mineralization over a strike length of over 2 km accompanied by weakly anomalous levels of gold mineralization. Drill Hole M-1 (-50O)

General Description: Drill Hole M-1 was targeted on a coincident magnetic and VLF anomaly (Figure 7) and intersected a succession of silicate and sulfide-rich iron formation hosted within a sequence of highly altered, sericitic fragmental volcanic rocks. The sulfide-rich iron formation exhibited sedimentary banding characterized by beds of chert and pyrite.

Figure 8 - Sulfide-rich Iron formation from drill hole M-1 showing stratigraphic banding of the sulfides and tectonic boudinage of the pyrite-rich bands.

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The drill hole was drilled from an access road that made drilling of the anomaly difficult and the hole needed to be drilled from an angle to intersect the target. Despite this, the drill hole definitely intersected the VLF and magnetic anomaly as shown by the high magnetic susceptibility of the rocks measured in the drill core.

Analytical Results: Interval: 87.16-91.15 m: This interval of both semi-massive and massive sulfide within iron formation and a graphitic fault with traces of galena, chalcopyrite and sphalerite.

From (m)

To (m)

Meters Gold (ppb) Pyrite (%) As (ppm)

87.16 91.15 3.99 60 26.18 127

Geochemistry: The anomalous geochemical gold content of the drill core is closely related to the amount of sulfide found in the drill core. The drill hole is also characterized by weak levels of arsenic content.

Magnetic Susceptibility and Explanation of Ground Geophysical Anomaly The drill hole successfully tested the coincident magnetic and VLF anomaly that was identified from the ground geophysical surveys. Although two separate bands of sulfide-rich iron formation were identified, the lower interval is much more enriched in pyrite and has a higher geochemical gold content. Trace amounts of galena, chalcopyrite and sphalerite were also identified in the lower interval. The sulfide-rich iron formation appears to have a vertical dip, or is steeply inclined to the west. The dip is difficult to interpret since the drill hole was drilled obliquely into the geophysical line. There were two intervals of rocks that had higher magnetic susceptibility, and although it is difficult to interpret these, they both show a good correlation to the magnetic anomaly found on the ground geophysical survey. Based on this information, it would appear that the Magnetic Anomaly “A” and the VLF Anomaly “B” on Figure 7 are due to the sulfide-rich iron formation encountered in the drill hole M-1.

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Drill Holes M-2 (-50O) & M-3 (-50O)

General Description (M-2): Drill Hole M-2 was drilled 1.2 km northwest of drill hole M-1 and intersected two zones of anomalous gold. The upper interval (37.49-41.60 m) consisted of sulfide-rich iron formation dominated by pyrite. These second interval (51.78-52.15 m) consisted of a second, separate interval of pyritic iron formation that exhibited strong stratigraphic banding.

Analytical Results (M-2):

From (m)

To (m)


37.49 41.60 4.11 148 20.95 159 51.78 53.15 1.37 49 44.51 298

Geochemistry (M-2): The anomalous geochemical gold content of the drill core is closely related to the amount of sulfide found in the drill core, and are widespread throughout the upper 2/3 of the drill hole. The drill hole is also characterized by weak levels of arsenic content.

Magnetic Susceptibility and Explanation of Ground Geophysical Anomaly (M-2): The drill hole successfully tested the coincident magnetic and VLF anomaly that was identified from the ground geophysical surveys. The Magnetic Anomaly “A” and VLF Anomaly “D” are coincident and were tested by the drill hole as seen in the magnetic susceptibility profile of the rock units (Figure 9). There is a separate VLF anomaly to the west (Anomaly “C”) that was not tested by the drill hole, but it appears that this anomaly is due to highly sericitic volcanic rocks in the structural footwall of the sulfide-rich iron formation. There is also a separate weaker anomaly to the east (Magnetic Anomaly “B” and VLF Anomaly “E”) that are coincident and is probably a fold-back of the same sequence of iron formation that was seen in M-2. The magnetic anomaly appears to have a steep dip to the east and this is a good indication that the large structure in the area found between Marskinkuusikko and Suurikuusikko is a syncline.

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General Description (M-3): Drill Hole M-3, drilled 205 m south-southeast of M-2, also intersected sulfide-rich iron formation and highly-altered volcanic rocks. This drill hole was completed after encountering heavy sulfide mineralization in drill hole M-2, and see if the sequence was continuous and traceable with the ground geophysical surveys.

Analytical Results: Interval: 41.19-48.08 m: This interval consisted of two separate lenses of sulfide-rich iron formation with an intervening interval of barren, highly-altered volcanic rock.

From (m)

To (m)


41.19 48.08 6.89 26 16.27 80

Geochemistry (M-3): The anomalous geochemical gold content of the drill core is closely related to the amount of sulfide found in the drill core. The drill hole is also characterized by weak levels of arsenic content.

Magnetic Susceptibility and Explanation of Ground Geophysical Anomaly The drill hole successfully tested the coincident magnetic and VLF anomaly that was identified from the ground geophysical surveys. Again, this drill hole intersected two separate bands of sulfide-rich iron formation were identified, the lower interval is much more enriched in pyrite and the lower interval was significantly wider than the upper interval. The sulfide-rich iron formation has a steep dip to the east, similar to M-2 and this is good indication that the large fold feature to the east of Marskinkuusikko is a regional-scale syncline. The down-hole magnetic susceptibility measurements demonstrate that the entire magnetic anomaly was cut by the drill hole, and this can particularly be seen in the bottom 1/3 of the drill hole where the rocks are “magnetically” dead within highly altered (sericitized) green volcanic rocks.

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Figure 11 – Primary pyrite banding forming sulfide-rich iron formation in drill hole M-3 at 42.33 m down-hole

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Drill Holes M-4 (-50O) & M-5 (-50O)

General Description (M-4): Drill Hole M-4 was drilled 700 m southeast of drill hole M-1 in the nose of a large fold structure and intersected sulfide-rich iron formation and silicified zones within a sequence of highly-altered fragmental volcanic rocks. For logistical reasons, the drill hole could not be completed along the same line as the geophysical survey, and consequently the geophysics are not easily related to the drill hole results.

Analytical Results (M-4): Interval: 52.61-58.49 m: This interval encompassed an upper silicate-rich iron formation from 52.61-55.27 m and a lower pyritic sulfide iron formation that exhibited sericite alteration and traces of chalcopyrite.

Figure 14 - Banded, sulfide-rich iron formation in drill hole M-4 within the interval 52.61 – 58.49 m down-hole. Sulfides have started to anneal in small metacrysts of pyrite owing to tectonic deformation.

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From (m)

To (m)


52.61 58.49 5.88 84 15.52 117

Geochemistry (M-4): The anomalous geochemical gold content of the drill core is closely related to the amount of sulfide found in the drill core. Perhaps more than any of the other holes found at Marskinkuusikko, the drill hole shows the close relationship between the sulfide content and the levels of geochemical gold. The highest gold value of almost 0.4 g/t Au was intersected in this drill hole within sulfide-rich iron formation. This hole also had the highest levels of arsenic content, although the levels are not that much higher than the other drill holes that intersected sulfide-rich iron formation (Holes M-1, M-2, and M-3).

Magnetic Susceptibility and Explanation of Ground Geophysical Anomaly (M-4): The drill hole successfully tested the coincident magnetic and VLF anomaly that was identified from the ground geophysical surveys. The Magnetic Anomaly “A” and VLF Anomaly “B” are coincident and were tested by the drill hole as seen in the magnetic susceptibility profile of the rock units (Figure 12). This drill hole could not be tested along the geophysical line and was tested obliquely from a road that cut across the area. The anomaly appears to have a vertical dip, although the down-hole magnetic susceptibility measurements actually show a magnetic low around the sulfide-rich iron formation. This may be due to the fact that the drill hole tested the sides of the anomaly, or it could be due to magnetite destruction within the sulfide-rich iron formation.

General Description (M-5): Drill Hole M-5 was designed to test a very strong VLF anomaly (VLF Anomaly “B”) shown on Figure 13 that flanked the north side of a very prominent magnetic feature that forms the nose of a large syncline on the property. This hole (-50O) was drilled 140 m south of M-4 and targeted a large VLF anomaly that occurred along the flank of a magnetic anomaly.

Geochemistry (M-5): This drill hole intersected a pyrite-bearing graphitic shear zone that yielded gold values of up to 43 ppb Au.

Magnetic Susceptibility and Explanation of Ground Geophysical Anomaly (M-5): The drill hole successfully tested the magnetic and flanking VLF anomaly that was identified from the ground geophysical surveys. The Magnetic Anomaly “A” can be correlated with the down-hole magnetic susceptibility measurements, and most

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importantly shows that the entire rock unit plunges (dips) to the north at roughly 45 degrees. This is a very important observation when related to the regional geology since it clearly outlines a large drag fold on the limb of the regional scale syncline. The VLF anomaly is due to conductive, graphitic, tectonic fault breccia located along the north side of the magnetic rock unit (green, unaltered volcanic rock) and forms the very strong ground VLF anomaly. This demonstrates that shear zones are commonly formed along the flanks of the major volcanic rock units at Marskinkuusikko.

Figure 15 – Some of the fine-grained pyrite that accompanies silicification in drill hole M-5, devoid of gold or arsenic.

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9. INTERPRETATION AND CONCLUSIONS Interpretation

The geophysical surveys have been successful in identifying the sinuous magnetic feature found on aeromagnetic maps of the area that appears to be the same horizon as that found at the Kittilä Mine located to the northeast of the Marskinkuusikko Property. This magnetic and conductive horizon is highly folded and contorted, indicating a great level of structural deformation that is frequently important in the localization of gold deposits located within sulfide-rich iron formation. Importantly, the sulfide-rich iron formation clearly shows that the Marskinkuusikko Property lies along the west limb of a major synclinal feature that also hosts the Suurikuusikko Gold Mine located about 6 km to the northeast of the property. When viewed in conjunction with the regional geophysical surveys, suggests that the sulfide-rich iron formation found at Marskinkuusikko is the same horizon that is found at the Kittilä Mine. However, the Kittilä Mine is characterized by high levels of arsenic and gold that are not found at Marskinkuusikko. This implies that the control of gold at Suurikuusikko is related to either a geological structure (fault?) that was responsible for the infusion of gold and arsenic into the Kittilä Mine area, or perhaps to an intrusive that has not yet been located. The geochemical data for all of the drill holes is graphically shown in Figures 16, 17 and 18. This shows that there is a poor correlation between gold and arsenic content, a very good correlation between gold and sulfur content, and finally a good correlation between sulfur and arsenic content.

Figure 16 - Gold Content versus Arsenic Content - Marskinkuusikko

28

Figure 17 - Gold Content versus Sulfur Content - Marskinkuusikko

Figure 18 - Sulfur Content versus Arsenic Content - Marskinkuusikko

29

Conclusions

The author has made the following conclusions after reviewing all relevant exploration data for this property:

1) Diamond drilling successfully tested a number of geophysical targets on the

property and intersected zones of heavy sulfide mineralization. The sulfides are believed to be related to iron formation deposits that commonly host gold deposits in Northern Finland.

2) The gold grades encountered in the drill holes are widespread, but only of

geochemical levels. No gold values in excess of 1.0 g/t Au were located and consequently the property hosts little/no potential for a large gold deposit.

3) Anomalous gold appears to be closely associated with sulfur content. This is

very typical for iron formations in northern Lapland. Arsenic also appears to have some relationship to the gold content, but due to the extremely low levels of arsenic in the drilling, it is difficult to make a correlation between gold and arsenic content.

4) It appears that the original concept of the Marskinkuusikko Property being on

the same stratigraphic horizon as the Kittilä Mine is entirely possible – if not highly likely. If this is the case, then the gold deposit located about 7 km to the northwest is closely related to an event that introduced widespread arsenic that accompanied the gold mineralization. This could be due to several factors, including a high level of gold and arsenic in the iron formation, or perhaps through the introduction of gold and arsenic into the host rock via an intrusive, shear zone or a combination of the two events.

10. RECOMMENDATIONS

Owing to the low levels of gold found at the Marskinkuusikko Property, and the extensive drilling conducted on the targets, it is recommended that no further work be completed on the property, and the Mining Claims should be allowed to lapse.

30

11. REFERENCES

Laajoki, K. & Gehör, S. (1990): The Precambrian Iron-Formations of Finland and their Tectono-Sedimentary Settings, Theoprastus Publications, S.A. Greece, pages 393-419. Patison, N. (2004): Deposit Overview, Suurikuusikko Gold Deposit (PowerPoint Presentation), Riddarhyttan Presentation, pages 27. Telford, W.M, Geldart, L., Sheriff, R. (1990): Applied Geophysics, Cambridge University Press, pages 1-770.

12. CERTIFICATE OF AUTHOR

I, John J. Gardiner, do hereby certify that:

1) I am a consulting geologist with a residence and business address of 14247 West Iliff A venue, Denver, Colorado, 80228 USA. 2) I have received the following degrees in geological sciences: H. B.Sc. (1981) from the University ofToronto, and M.Sc. (Geology) (1986), Acadia University, Wolfville, Nova Scotia. 3) I am a certified and licensed geologist with the Association of Professional Engineers, Geologists and geophysicists of Alberta (Member No. M40650), the Association of Professional Geoscientists, Province of British Columbia (Member No. 32188) and the Wyoming Board of Professional Geologists (Member No. PG-2690). 4) I have been practicing as a professional geologist for over 30 years since my graduation from university. 5) I have read the definition of "Qualified Person" set out in National Instrument 43-101 (NI 43-101) and certify that by reasen of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfill the requirements to be a "Qualified Person" for the purposes ofNI 43-101. 6) I am responsible for the preparation of all sections of the technical report titled Report on 2011 Exploration, Diamond Drilling, Marskinkuusikko Gold Property, Lapland, Finland and dated Friday, May 20, 2011. I have visited the Marskinkuusikko property between the periods during May/June 2009 and throughout April 2011. 7) I am not aware of any material fact or material change with respect to the subject matter of the Technical Report that is not reflected in the Technical Report, the omission to disclose which makes the Technical Report misleading. 8) I have read National instrument 43-101 and Form 43-101 Fl, and the Technical Report has been prepared in compliance with that instrument and form.

· ohn J. Gardiner, P. Geol. Denver, Colorado, U.S.A.

31

S-11\1 4Sn0J4~ t-11\1

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Drill Hole Number: M-1Location Coordinates Finnish Uniform Coordinate SystemEasting: 3,426,712.60Northing: 7,530,218.93Elevation: 199.82Survey: Trimble Differential

Date: April_2011Depth: 104.30Geologist: John GardinerCore Size: NQ2Drilling Company: Drillcon SMOY

Objective: Test Coincidentr magnetic and VLF AnomalyResults: Intersected Sulfide-rich Iron Formation

Depth Dip0.0 -49.2

10.0 -49.420.0 -49.430.0 -49.640.0 -49.850.0 -49.860.0 -50.070.0 -50.180.0 -50.190.0 -50.3

100.0 -50.3

From (m) To (m) Unit Description0.00 3.70 OVB OVB

3.70 27.40 GreenvolcanicunalteredPale green gray color. Groundmass very homogeneous, 5% quartz and epidote veinlets crosscutting core axis. Groundmass weekly sericitic, core very dense and heavy. Traces of chalcopyrite and pyrrhotite associated with quartz veins.

27.40 29.21 SilcateIronFormationJet black color. Unit with very fine banding submillimeter scale of pyrrhotite at 45° the core axis in sedimentary bands. 5% pyrite associated with crosscutting quartz and carbonate veinlets. Minor breccia at intervals, groundmass graphitic and carbonaceous.

29.21 32.68 FragmentalhighlyshearedSplotchy black gray color. Unit distinctive with 10% small fragments typically 1 cm in size, possibly volcanic in origin, possibly tectonic also. Foliation at 45° the core axis with local graphite. 4% pyrite associated with crosscutting courts and carbonate veinlets.

32.68 42.34 SilcateIronFormationBand-Aids gray black color, sedimentary banding at 45° the core axis. Core silicified and with 1%. Type and traces of chalcopyrite associated with crosscutting quartz carbonate veinlets. Groundmass silicified.

42.34 74.86 GreenvolcanicunalteredTell the olive green in color. Pervasive and weak alteration throughout, groundmass are acidic. Core soft easily drills, 5% crosscutting epidote and courts veinlets associated with traces of pyrite. Minor rose-colored quartz veinlets at 57 m downhole.

74.86 79.18 SilcateIronFormation

Jet black color, groundmass highly silicified. Sedimentary banding at 45° the core axis, consist of alternating light gray bands and dark black bands typically 1 cm thick. Traces of chalcopyrite along fractured surfaces, 6%.PO and 3% pyrite scattered throughout. Some percent millimeter scale quartz veins crosscutting core axis.

79.18 79.89 GreenvolcanichighlyalteredOlive green to gray color. 5% crosscutting quartz veinlets, 2% pyrrhotite scattered throughout groundmass, groundmass breccia did. Core fense and silicified.

79.89 82.21 QuartzCarbonateVeinwithGNSPHPOPYandCPY

Unit light gray and dark black in color, unit highly tectonized and with 50% quartz carbonate deigning. Traces of ZnS assosciated with quartz veins, PbS also with quartz veins. 5% pyrite and small bands at 55° the core axis. Unit appears to be large quartz carbonate veins emplaced along fault.

82.21 82.46 GraphiteFaultDark black color, groundmass mostly graphite. 5% fine-grained pyrite scattered throughout, 10% breccia hated wall rock fragments highly stretched in the forms at 75° the core axis. Moderate core recovery.

82.46 87.16 FragmentalhighlyshearedSplotchy gray green color, numerous black colored carbonaceous carbonaceous or siliceous stringers. 5% pyrite and traces of ZnS associated with 7% crosscutting quartz veinlets. Foliation at 55° the core axis, groundmass very altered and silicified. Numerous breccia textures.

87.16 91.15 SulfideIronFormation

Metallic and dark black color. Unit consists of two parts from 87.16 to 88.60 m massive pyrite. From 88.60 m to 91.30 m fine-grained pyrite and carbonaceous material, over 50% sulfides. Total 70% pyrite, very little pyrrhotite. Groundmass graphitic and carbonaceous, sedimentary banding at 45° the core axis with numerous small-scale folds.

91.15 91.30 Lost Core Lost Core

91.30 91.81 GreenvolcanichighlyalteredJet black color. Groundmass very silicified, 25% quartz albite veinlets crosscutting core axis associated with 4% pyrite. Unit none foliated and with brittle fractures in silicified groundmass.

91.81 92.35 SulfideIronFormationJet black color, metallic bands typically 2 cm wide. Primary sedimentary banding at 70° the core axis, numerous small scale folds. Over 50% pyrite, all could this is very fine-grained and disseminated in carbonaceous groundmass.

92.35 98.40 GreenvolcanicfootwallBleached gray green color, 5% quartz veinlets at random angles the core axis. Traces of pyrite and pyrrhotite associated with quartz veinlets. Groundmass very sericitic and highly altered. Foliation at 65° the core axis.

98.40 98.65 SulfideIronFormationJet black color, small-scale unit with foliation at 40° the core axis, graphitic. 10% pyrite scattered in small bands paralleled foliation and also in veinlets crosscutting bedding services. No quartz or albite veining.

98.65 99.63 GreenvolcanichighlyalteredPatchy light green gray color. Foliation at 40° the core axis. Abundant brecciation features, local tectonic fragments of the 1 cm in size. A percent crosscutting courts and albite veinlets typically 1 mm wide associated with traces of pyrrhotite.

99.63 99.87 SulfideIronFormationMedium gray and jet black in color. Banding at 45° the core axis, numerous tectonic features indicate sheering us unit. Graphite surfaces along foliation planes, 4%. PO, 3% crosscutting courts veinlets typically 1 mm wide.

99.87 104.30 GreenvolcanicfootwallBleached gray green color, groundmass very sericitic and rock easy to drill. Foliation at 50° the core axis, 4% crosscutting courts and albite veinlets typically 2 mm wide. Unit devoid of sulfides, good core recovery.

EOH


Date: 4/1/2011Depth: 121.95Geologist: John GardinerCore Size: NQ2Drilling Company: Drillcon SMOY

Objective: Test Coincidentr magnetic and VLF AnomalyResults: Intersected Sulfide-rich Iron Formation

Depth Dip0.0 -50.0

10.0 -49.520.0 -49.830.0 -49.640.0 -49.450.0 -49.260.0 -49.270.0 -49.280.0 -49.390.0 -49.4

100.0 -49.5110.0 -49.5120.0 -49.3


1.50 6.64 GreenvolcanicunalteredApple green color, groundmass very sericitic. 5% quartz and carbonate veins at irregular angles. Core badly broken towards upper contact with minor iron oxide surface weathering. No sulfides, massive homogeneous.

6.64 12.25 GreenvolcanichighlyalteredUnit gray to pale green in color. Groundmass very brecciated, and with 10% regular quartz veinlets scattered throughout. Brecciation textures are abundant, locally up to 1% pyrrhotite. Core very hard and silicified.

12.25 14.97 GreenvolcanichighlyalteredwithPOUnit banded black to medium green in color. Abundant brecciation textures, 5%. PO and pyrite associated with small veinlets scattered throughout the interval. Foliation at 70° the core axis, possible graphitic surfaces parallel to foliation.

14.97 24.19 Fragmentalhighlysheared

Unit pale gray in color, with numerous lithic fragments up to 5 cm in length. Foliation at 60° the core axis, fragments highly stretched parallel to foliation. Possible structural zone. Groundmass talkie and highly altered. Unit devoid of breccia nation textures and with little or no sulfides.

24.19 27.77 Silicifiedbreccia

Unit similar to above but groundmass more silicified and with a percent. PO and pyrite scattered throughout. Foliation at 60° the core axis, 5% quartz veins. Numerous small-scale. Indicating original setting highly disruptive enfolded. Numerous courts fragments up to 4 cm in size, probable tectonic origin.

27.77 29.09 SilicifiedbrecciawithPOUnit medium grade a pale green in color, groundmass very silicified and with 7%. PO scattered throughout. Contacts of unit at 60° the core axis, groundmass intensely breccia aided. Total sulfides approximately 10% of the rock unit, mostly PO.

29.09 34.78 QuartzsericitebrecciazoneUnit splotchy piale gray to black in color. Unit highly breccia aided and with numerous quartz veinlets lighting breccia zones. Minimal amount of sulfides, groundmass very silicified and hard. Breccia fragments up to 8 cm in size, definitely of tectonic origin.

34.78 37.49 FelsicvolcanichighlyshearedUnit banded green gray in color, groundmass very foliated. Foliation at 45° the core axis, traces of pyrite throughout. Small lithic fragments up to 1/2 cm in size stretched parallel to foliation. Possible tuffaceous schists or to facia sedimentary rock.


Unit gray and metallic in color. Unit appears to be highly folded and granulated sulfide I affirmation. Foliation at 70° the core axis, originals sedimentary banding in pyrite now intensely folded and breccia aided. Total sulfides approximately 23%. 5% quartz albite veins. Groundmass very silicified and hard.

41.60 51.78 SilicateIronFormationDark gray to jet black in color. Unit very silicified, remnant chertyu beds at 45° the core axis. Intense brecciated with up to 3%. PO. Unit very hard. Foliations at random angles the core axis

51.78 53.15 SulfideIronFormationBanded metallic jet black color. Original sedimentary bedding at 45° the core axis. 50% sulfides, 50% silicate minerals. Numerous chert beds that are budoudanoged sedimentary banding typically 1 mm in size to possibly even smaller.

53.15 64.84 Greenvolcanichighlyaltered

Pale gray to green in color. Groundmass of rock very soft owing to abundant sericite alteration. Numerous small breccia nation textures, 3% quartz veins albite veins let's associated with pyrite crosscutting core axis. Groundmass silicified, highly altered. Total sulfides less than 1%.

64.84 65.80 SilicifiedbrecciawithPYDark black to gray color. 10% pyrite scattered throughout, 18% quartz veinlets at regular angles to core axis. Remnant sedimentary banding at 50° to core axis, groundmass very silicified and breccia did.

65.80 69.73 SulfideIronFormationJet black in color. Two types of pyrite, total sulfides 70 to 80%.80% remaining 20% of pyrite and small crystals up to 2 mm in size. Unit highly folded locally, appears to be sheared paralleled the bedding, small-scale folds.and graphitic.

69.73 73.28 SilicifiedbrecciawithPOMedium gray color, groundmass very brecciated and altered to sericite throughout. 2 to 3% pyrrhotite in small stringers parallel to foliation at 70° the core axis. Traces of pyrite less than 1% throughout unit.

73.28 109.10 GreenvolcanicfootwallGray the in color, locally light brown. Groundmass intensely altered to sericite, abundant local breccia features, possibly tectonic. Unit distinct with 5% quartz veinlets at irregular angles to core axis. Groundmass very soft and easily drill.

109.10 110.10 ShearzonewithPYBanded black white gray color. Highly foliated, foliation at 45° the core axis. Traces of pyrrhotite and 5% pyrite scattered throughout forming small crystals up to 2 mm in size. Definite tectonic zone.

110.10 121.95 GreenvolcanicfootwallSpeckled gray green color. Groundmass medium crystalline very minimal tectonic breccia and silicification. Groundmass very sericitic and soft. Total 2% courts deigning scattered throughout, no sulfides.

EOH



Objective: Test Coincident magnetic and VLF anomalyResults: Intersected sulfide-rich iron formation

Depth Dip0.0 -49.7

10.0 -49.620.0 -49.430.0 -49.540.0 -49.650.0 -49.660.0 -49.670.0 -49.780.0 -49.690.0 -49.8

From (m) To (m) Unit Description0.00 3.20 OVB OVB3.20 5.33 Greenunalteredvolcanic Bleached gray green color. Groundmass sericitic, numerous oxidation fractures. Core soft, highly altered, 2% quartz veinlet's, no sulfides.

5.33 12.57 GreenvolcanichighlyalteredBleached green gray color. Foliation at 70° the core axis. Groundmass very brecciated, 3% quartz veins, no sulfides. Possible small agglomerate fragments stretched parallel to foliation less than 2% of the unit.

12.57 12.95 GreenvolcanichighlyalteredwithPYBanded black gray color. Foliation at 70° the core axis. Minor carbonaceous material, 8 percent pyrite as small crystalline aggregates parallel to the foliation. Brecciation throughout.

12.95 20.50 FragmentalhighlyshearedUnit splotchy gray light green color. Agglomerate unit with fragments up to 7 cm in size, stretched parallel to foliation. Possible volcanic breccia unit or tectonic breccia. Traces of pyrite scattered throughout not exceeding 1% of the rock unit. 2% albite veins, foliation at 75° the core axis.

20.50 23.84 SulfideIronFormationGraphiticBlack metallic color. Traces of Zn associated with albite and courts veinlets. 20% pyrite, 5% quartz veins. Foliation at 45° the core axis, graphitic and carbonaceous. Abundant fine-grained sulfide.

23.84 24.11 GreenvolcanichighlyalteredBleached gray green color, foliation at 45° the core axis. Groundmass very sericitic, highly shared. 3% pyrite as small crystals scattered throughout groundmass and fractures. 3% quartz albite deigning.

24.11 26.84 SulfideIronFormationJet black color, metallic bands. Carbonaceous locally, 20% quartz albite veins up to 12 cm in width. Traces of chalcopyrite, total pyrrhotite 15%. Unit highly deformed and silicified.

26.84 41.19 SilicateIronFormationBlack gray color. Groundmass intensely silicified, abundant graduation textures, possible tourmalines scattered throughout. 5% quartz albite veins that 45° the core axis. Local masses of pyrrhotite, total sulfides does not exceed 5%.

41.19 45.25 SulfideIronFormationJet black and metallic in color. Total pyrite approximately 30%, 5% pyrrhotite. Foliation at 65° the core axis. 8 percent quartz vein let's scattered throughout. Possibly carbonaceous groundmass.

45.25 46.70 GreenvolcanichighlyalteredBleached gray green color. Groundmass very sericitic and highly folded. Tectonic fragments up to 1 cm in size, rounded, stretched parallel to foliation. Devoid of sulfides.

46.70 48.08 SulfideIronFormationBandede light gray abd jet black color. Numerous surety layers highly folded into small-scale folds structures. Total sulfides 25% of the rock unit, mostly pyrrhotite, traces of pyrite. Groundmass are sericitic and chloritic possibly carbonaceous.

48.08 50.50 SilicateIronFormationDark gray to jet black in color. Highly folded and brecciaed, groundmass very silicified. 8 percent total quartz veins at 80° the core axis, traces of pyrrhotite associated with veigning. Groundmass very hard and silicified

50.50 51.95 SulfideIronFormationBanded metallic black color. 65 to 70% total sulfides, very finely bedded at 50° the core axis. Groundmass very silicified and sulfides quite spectacular in appearance. 5% total quartz veins.

51.95 54.95 SiliciifedBrecciawithPYBanded like gray dark black color. Foliation at 45° the core axis, 6% total sulfides mostly as pyrrhotite and rare pyrite. 8 percent quartz veins, groundmass very silicified. Abundant tectonic breccia Tatian features.

54.95 55.32 SulfideIronFormation Banded metallic dark black color. 35%. PO, Banding typically 1/2 cm wide. Foliation at 55° the core axis. 20% surety layers parallel to foliation.

55.32 59.65 GreenvolcanicfootwallSplotchy gray green color. Groundmass very seracitic, 5% quartz carbonate veinlets scattered throughout, highly irregular and at random angles core axis. Abundant tectonic brecciation features. Local pyrite towards top of section less than 1%.

59.65 60.41 SilicifiedbrecciawithPOUnit dark gray to black in color. 10% pyrrhotite and rare pyrite and veins parallel to foliation at 45° the core axis. Groundmass very silicified. Carbonaceous along foliation services.

60.41 97.45 GreenvolcanicfootwallUnit splotchy gray green in color. 5% irregular quartz and albite veinlets scattered throughout, evenly distributed. No sulfides. Groundmass very sericitic Citic and drills very easily, unit devoid of sulfides.

EOH



Objective: Test VLF Anomaly in Nose of FoldResults: Intersected Sulphide Iron Formation

Depth Dip0.0 -50.0

10.0 -50.520.0 -50.330.0 -50.240.0 -50.250.0 -50.260.0 -50.270.0 -49.980.0 -49.990.0 -49.8

From (m) To (m) Unit Description0.00 4.25 OVB OVB4.25 6.36 Fragmentalhighlysheared Patchy gray green color. Highly brecciated, minor iron oxide staining related to surface oxidation. No sulfides. Foliation at 45° the core axis.

6.36 11.14 GreenvolcanichighlyalteredMedium gray color. 5% quartz carbonate veinlets crosscutting core axis associated with no sulfides. Foliation and 45° the core axis, minor stretching and elongation of tectonic pieces of unit. No sulfides, minor surface oxidation.

11.14 20.30 Fragmentalhighlysheared

Banded light green to dark black color. Spectacular example of agglomerate unit, 5% pyrite scattered throughout as small crystals up to 2 mm in size. Fragments typically 5 cm long and 1 cm wide stretched parallel to foliation at 45° the core axis. Unit highly deformed, abundant quartz and sericite throughout groundmass, possibly carbonaceous.

20.30 31.97 SilcateIronFormationPYBlack, dark gray color. Foliation at 45° the core axis, foliation surfaces coated in graphite and carbonaceous throughout. 5% pyrite scattered along foliation surfaces as crystals up to 4 mm in size. 3% quartz

31.97 32.93 SulfideIronFormationBanded light gray to dark black color, metallic bands paralleled indenting at 45° the core axis. 15% pyrrhotite in small millimeter steel bands paralleled foliation at 45 degrees core axis. Unit poorly developed, groundmass silicified, highly folded and deformed.

32.93 36.34 GreenvolcanichighlyalteredLight green to medium gray color. Foliation at 45° the core axis, abundant small-scale folding and shearing highly evident. 4% disseminate it pyrite as small crystals up to 4 mm in size. Groundmass very silicified and hard, unit transitional into brecciated version of the same unit.

36.34 37.47 SulfideIronFormationDark black gray color. Unit transitional into black chert variety, 14% pyrite as very small crystals up to 1 mm in size scattered throughout. Groundmass very hard and silicified, abundant brecciation textures in filled with pyrite. Traces of pyrrhotite.

37.47 39.30 BlackchertDark gray to black color. Core very hard and intensely silicified. 12% quartz veins albite veins crosscutting core at 65° the core axis, associated with 1% pyrite scattered throughout. Minor brecciation at lower contact.

39.30 42.50 GreenvolcanichighlyalteredAll light green to gray color. Groundmass silicified and hard, minor chlorite as small I scattered throughout unit parallel to foliation at 25° core axis. Traces of pyrite, 3% quartz veins, typically highly folded and stretched.

42.50 42.86 BlackchertwithPYBlotchy white dark black color. 6% pyrite scattered throughout highly silicified portions of interval. 20% quartz veins albite veinlets at random angles, typically associated with sulfides. Contacts indicate unit highly folded and contorted.

42.86 43.16 GreenvolcanichighlyalteredWhite gray green color. Groundmass very silicified. 1% pyrite in small fractures in veinlets, 5% quartz veins at 45° the core axis. Groundmass very silicified and hard.

43.16 46.09 BlackchertwithPYDark black with local gray patches. Incredibly silicified core. 5% quartz and albite veins let's crosscutting core axis at 45°. 4% pyrite scattered throughout, unit very massive and homogeneous.

46.09 50.41 FragmentalhighlyshearedwithPYDistinctive gray green color. Well foliated at 45° the core axis. 5% pyrite as crystals up to 3 mm in size. Highly tectonized, numerous small eyes stretched parallel to foliation typically 3 mm in size. Groundmass weekly to moderately silicified. In

50.41 50.76 BlackchertwithPYDark gray to black color. Groundmass highly silicified, 7% pyrite associated with 7% crosscutting courts in albite veins let's. Unit highly deformed and very silicified.

50.76 52.61 FragmentalhighlyshearedwithPYUnit with distinctive patchy light green gray color. Possible crystal tuff unit, small phenocrysts up to 3 mm in size, foliation at 45° core axis. Traces of pyrite scattered throughout, 6% quartz veins stretched parallel to foliation.

52.61 55.27 SilcateIronFormationPYBanded black great metallic color. Foliation at 35 and 45° the core axis, variation due to numerous small-scale Folds. Total sulfides content 15%, in small bands parallel to foliation. Foliation was probably original betting, now highly stressed and contorted.


Unit with distinctive banded metallic, gray, and black layers typically 4 cm wide, 5% quartz carbonate deigningi, traces of sericite and chalcopyrite. foliation at 50° the core axis. Total sulfide content 25%. Numerous generations of sulfide, very fine-grained sulfides in bands typically 1 cm wide parallel to betting. Other areas of recrystallize pyrite with crystals up to 2 mm in size.

58.49 59.78 BlackchertwithPYDark black gray color. Unit very silicified, numerous remnant breccia textures. 5% quartz albite veinlets at random angles to the core axis typically 1 mm wide. Traces of pyrite, core incredibly silicified and hard.

59.78 60.51 GreenvolcanichighlyalteredMedium grain to gray color. Core very silicified and transitional into unit described above. 8 percent albite courts veinlets, 3% very fine-grained pyrite scattered throughout silicified patches.

60.51 60.65 SulfideIronFormationVery small and narrow sulfide affirmation. Banded black and gray color, with danced at 45° the core axis. 9% pyrite is crystals up to 5 mm in size, pyrite somewhat distinctive and yellow color.

60.65 63.51 GreenvolcanichighlyalteredLight grey to medium grain color. Perhaps foliation at 45° the core axis, groundmass very silicified and hard. A percent crosscutting quartz veinlets, possible chert layers parallel to primary bedding. Traces of pyrite, unit massive and homogeneous.

63.51 64.93 BlackchertwithPOJet black color, minor green colored bands at 40° the core axis. 2% pyrrhotite and traces of pyrite scattered throughout. Groundmass very silicified and hard. Unit appears to be chert enteral weakly altered and silicified, minor graphitic slickensides along foliation surfaces at 35° the core axis.

64.93 68.00 GreenvolcanichighlyalteredLight gray to light green 3% total quartz and albite veins. Strong foliation at 40° the core axis, 2% pyrite scattered throughout. Minor brecciation, groundmass weekly silicified.

68.00 68.60 BlackchertJet black color. Groundmass very dense and silicified, no alteration and no structural deformation. 2% total quartz veins, no sulfides, possible graywacke unit.

68.60 70.32 FragmentalhighlyshearedPatchy days black color. Distinctive color, fragments up to 3 cm in size, possibly all tectonic and origin. Some of groundmass appears to be porphyry unit described further downhole, foliation at 25° the core axis, highly folded.

70.32 76.65 GreenvolcanicunalteredDark gray color, unit massive and homogeneous. Groundmass silicified, less than 1% pyrite, foliation at 40° the core axis. Minor carbonate coating fracture surfaces. Boring and uninteresting.

76.65 90.63 PorphyryShearedUnit very distinctive. Patchy gray green color. 15% phenocyrsts light grain color, 50% dark gray and a gray groundmass. Banding at 40° the core axis, possibly in intrusive unit that is now highly sheared. Small-scale folding evident

90.63 91.75 Blackchert Jet black color. Groundmass very hard and silicified. Trace to 1% pyrrhotite associated with small crosscutting courts veinlets. No pyrite, good core recovery.EOH

Drill Hole Number: M-5Location Coordinates Finnish Uniform Coordinate SystemEasting: 3,427,275.28Northing: 7,529,915.05Elevation: 198.969Survey: Trimble Differential GTK


Objective: Test Pronounced Ground VLF anomaly flanking magnetic featureResults: Intersected large, graphitic shear zone

Depth Dip0.0 -59.9

10.0 -49.620.0 -49.630.0 -49.540.0 -49.650.0 -49.760.0 -49.970.0 -50.080.0 -50.090.0 -50.1

100.0 -50.1110.0 -50.3120.0 -50.5130.0 -50.6140.0 -50.8


3.50 8.24 FragmentalhighlyshearedoxidizedDark gray color, numerous iron oxide patches associated with surface weathering. Foliation at 20° the core axis, core badly broken up due to surface weathering. Numerous stretched fragments up to 3 cm in size, unit highly folded and contorted.

8.24 18.6 FragmentalhighlyshearedUnit patchy gray, dark green in color. 35% of the unit are fragments of to 4 cm in size, well-rounded, either volcanic in origin or tectonic. Groundmass are sericitic, foliation had 25° the core axis, highly folded and contorted.

18.6 25.79 TectonicFaultBrecciaBlack patchy gray color. Spectacular interval of massive brecciation, some of it appears to be primary, other portions tectonic in origin. Fragment up to 8 cm in size, rounded typically, groundmass weekly silicified and highly sericitic.

25.79 36.34 FragmentalhighlyshearedPatchy dark gray green color, groundmass moderately silicified. Foliation at 25° the core axis, rarer pyrite associated with 2% crosscutting quartz veinlets. Fragments up to 2 cm in size, forming less than 10% of the rock unit.

36.34 38.12 TectonicFaultBreccia

Jet black in color, numerous gray patches. 70% fragments up to 5 cm in size, all fragments well-rounded, volcanically tectonic in origin. Groundmass moderately silicified, probably carbonaceous. Foliation at 20° the core axis, groundmass sericitic.

38.12 38.4 GraphiticfaultJet black color, composition 95% graphite and 5% pyrite. Pyrite occurs as small crystals scattered throughout highly foliatedgraphite. Possible conductor, contact at 30° the core axis. Core badly broken and only partial core recovery.

38.4 40.05 SilicifiedzonegraphiticwithPyPOCPYPatchy medium green and black color. Total sulfides 15%. 8 percent pyrrhotite, 5% pyrite, 2% chalcopyrite. Sulfides occur in small fractures in veinlets at 45° the core axis. 3% quartz veins, groundmass very silicified.

40.05 105.93 GreenvolcanicunalteredPale green color. Unit massive and homogeneous, 7% small quartz albite veins let's typically 2 mm wide. Graphite slickensides at 30° the core axis, indicating moving along major fold down plunge. Groundmass weekly silicified asericitic.

105.93 116.82 GreenvolcanicsilicifiedandbrecciatedwithPYCPY

Bleached gray color, abundant brecciation textures. Unit very tectonized and very silicified, abundant hydrothermal alteration. 5%. Type in 2% pyrite scattered throughout unit associated with deigning, traces of chalcopyrite 2% locally. Groundmass originally green highly altered volcanic now completely altered.

116.82 117.37 MassiveSulfidePatchy gray brown color. 50%. Type 1% chalcopyrite and 49% highly altered groundmass. Unit highly contorted and deformed. Appears to be some blowout of lower grade interval a poll. 15% quartz veins.

117.37 148.9 GreenvolcanichighlyalteredPostacio green color. Groundmass very serious Citic, 5% quartz veins at random angles, typically 3 mm wide. Traces of pyrite scattered throughout. Foliation at 5° the core axis, local chloritic intervals.

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Taranis Resources Inc.

Gardiner John

14.04.2011 13:57:59 Rovaniemi

14247 West Iliff Avenue 80228 5421 Lakewood, CO USA

ORDER ID

PROJECT: AREA: MAP SHEET: SAMPLE TYPE:

METHOD CODE + 511P + 703P + 705P

Labtium Oy

PO Box 57

02151 ESPOO

Phone 01065 38000

Fax 01065 38289

ANALYTICAL REPORT

109249 REF:

Marskinkuusikko

SAMPLES 40

3 37

DETERMINATIONS 1240

3 37

Labtium Oy

~1t.:~· Auli · a Labo tory supervisor

Labtium Oy

PO Box8601

96101 ROVANIEMI

Phone 01065 38000

Fax 01065 38789

RESP. AREA:

SAMPLES: 38

Labtium Oy

METHOD DESCRIPTIONS AND COMMENTS

Order ID Date of issue

109249 14.04.2011 13:57:59

THE RESULTS ARE VALID ONLY FOR THE SAMPLES TESTED THE REPORT MAY ONLY BE QUOTED IN FULL

THE RESULTS HAVE BEEN PRODUCED DURING: 08.04.2011 - 14.04.2011.

ONLY RESULTS WITH A+ MARK IN FRONT OF THE METHOD CODE ARE COVERED BY THE SCOPE OF ACCREDITATION

10 Drying of sample at 70°C

32 Fine crushing in robotic cell

34 Rotary splitting in robotic cell

38 Subsampling in robotic cell (1 vial)

511 Aqua regia leach at 90 oc

52 Pulverizing of 0,8 - 1,5 kg sample in robotic cell

70 Cutting of rock sample

703 Lead fire assay preconcentration, 1 0-15g subsample

705 Lead fire assay preconcentration, 50g subsample

901 Reception and handling fee for a batch of samples

902 Waste disposal fee for reject sample materials (max 4 kg)

+ 511 P Multi-element analysis by ICP-AES

+ 703P Determination of Au, Pd, Pt with ICP-AES-technique


Labtium Oy

Laboratory Customer Sample weight Ag AI As B Be Ba Ca

Sample ID Sample ID kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg

32 + 511P + 511P + 511P + 511P + 511P + 511P + 511P

L11034041 M-1/27 .4-28.4 2.58 1 29800

Labtium Oy

Laboratory Customer Cd Co Cr Cu Fe K La Li Mg SampleiD Sample ID mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg

+ 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P

L11034041 M-1/27.4-28.4 5 32 155 227 102000 435 5 18 34100 L11034042 M-1/28.4-29.21 10 55 354 299 123000

Labtium Oy

Laboratory Customer Mn Mo Na Ni p Pb s Sb Sc Sample ID Sample ID mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg

+ 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P

L11034041 M-1/27.4-28.4 830 22 337 236 275 13 36100

Labtium Oy

Laboratory Customer Sr Ti v y Zn Au Au Sample ID Sample ID mg/kg mg/kg mg/kg mg/kg mg/kg IJQ/kg

IJQ/kg

+ 511P + 511P + 511P + 511P + 511P + 703P + 705P

L11034041 M-1/27.4-28.4 64 102 273 7.3 218 - 13 L11034042 M-1/28.4-29.21 60 134 365 6.9 568 - 18 L11034043 M-1/29.21-30.48 59 89 276 4.9 497 -

Labtium Oy

Results for Ag AI As B Be Ba Ca Cd Co Cr Cu

Quality Control mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg

Samples + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P

QCCGS-26 - - - - - - - - - - -QCCGS-26 8 12600 320

Labtium Oy

Results for Fe K La Li Mg Mn Mo Na Ni p Pb



QCCGS-26 - - - - - - - - - - -QCCGS-26 52900 2300 9 19 6760 502 88 1060 104 569

697

QCGBMS304-6 60300 3390 20 12 13400 660 11 1250 2160 783 338

QCSOKEA - - - - - - - - - - -QCSOKEA

Labtium Oy

Results for 5 Sb Sc Sr Ti v y Zn Au Quality Control mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg J.lg/kg

Samples + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 705P

QCCGS-26 - - - - - - - - 1600 QCCGS-26 25700 41 5.0 43 832 52 6.6 1550 1610

QCGBMS304-6 19700 124 7.9 108 630 107 14.3 1250 -QCSOKEA - - - - - - - -

I..ABTlUM


Gardiner John 14247 West Iliff Avenue 80228 5421 Lakewood, CO USA

08.04.2011 16:22:35 Rovaniemi

ANALYTICAL REPORT

ORDER ID


METHOD CODE + 511P + 703P +704P + 705P

Labtium Oy

PO Box 57

02151 ESPOO

Phone 01065 38000

Fax 01065 38289

109189 REF:

SAMPLES DETERMINATIONS 72 2232

1 1 12 12 59 59

Labtium Oy

~~-Auli j a Labo tory supervisor

Labtium Oy

PO Box 8601

96101 ROVANIEMI

Phone 01065 38000

Fax 01065 38789

CORE NQ2

RESP. AREA:

SAMPLES: 70

Labtium Oy



109189 08.04.2011 16:22:35









52 Pulverizing of 0,8 - 1,5 kg sample in robotic cell


703 Lead fire assay preconcentration, 10-15g subsample









Labtium Oy

Laboratory Customer Sample weight Ag AI As B Be Ba Ca SampleiD Sample ID kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg

32 + 511P + 511P + 511P + 511P + 511P + 511P + 511P

L11031209 M-3/12.57-12.95 0.915

Labtium Oy

Laboratory Customer Sample weight Ag AI As B Be Ba Ca

Sample 10 Sample 10 kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg

32 + 511P + 511P + 511P + 511P + 511P + 511P + 511P

L11031267 M-2/53.15-54.15 2.85

Labtium Oy

Laboratory Customer Cd Co Cr Cu Fe K La Li Mg Sample 10 Sample 10 mg/kg mg/kg mglkg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg

+ 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P

L11031209 M-3/12.57-12.95 3 70 175 418 113000 795 4 13 32900 L11031210 M-3/19.55-20.5 5 37 81 155 93000 1240 4 8 36900 L11031211 M-3/20.5-21.8 5 38 94 266 109000 1520 5 7 30500 L11031212 M-3/21.8-22.5 11 30 62 805 149000 2500 6 2 8520 L11031213 M-3/22.5-23.84 11 40 93 528 146000 1590 5 16 32500 L11031214 M-3/23.84-24.11 3 58 514 90 71800 1440 3 17 51200 L11031215 M-3/24.11-26.07 6 33 30 275 138000 1220 6 3 16300 L11031216 M-3/26.07-26.84 7 27 37 712 157000 1290 5 3 14500 L11031217 M-3/26.84-28.21 5 10 22 110 88800 1470 7 1 6460 L11031218 M-3/28.21-29.45 3 7 43 18 25400 371 3

Labtium Oy

Laboratory Customer Cd Co Cr Cu Fe K La Li Mg

Sample 10 Sample 10 mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg

+ 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P

L11031267 M-2/53.15-54.15 3 35 38 149 83600 1850 2 10 27700

L11031268 M-2/64.84-65.1 5 35 75 247 108000 1440 4 18 22100

L11031269 M-2/65.1-65.8 24 33 144 223 111000 1050 3 31 32600

L11031270 M-2/65.8-66.51 9 27 42 227 194000 1450 5 10 10700

L11031271 M-2/66.51-67.24 6 27 49 352 192000 1370 6 8 10100

L11031272 M-2/67 .24-68.15 10 33 61 542 209000 1230 4 7 10200

L11031273 M-2/68.15-69.04 13 24 34 242 215000 1340 4 5 5890

L11031274 M-2/69.04-69.73 7 25 36 322 188000 1250 5 8 9450

L11031275 M-2/69.73-71.1 4 42 123 162 97400 690 3 42 39800

L11031276 M-2/71.1-73.28 3 48 209 110 90200 294 3 45 44700

L11031277 M-2/1 09.1-110.1 3 47 177 197 106000 876 4 22 37500

L11032164 M-3/59.65-60.41 3 57 57 294 122000 1470 5 13 16400

Labtium Oy


+ 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P

L11031209 M-3/12.57-12.95 1620 8 330 205 1970

Labtium Oy

Laboratory Customer Mn Mo Na Ni p Pb s Sb Sc

Sample ID Sample 10 mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg

+ 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P

L11031267 M-2/53.15-54.15 1640 3 337 84 186

Labtium Oy

Laboratory Customer Sr Ti v y Zn Au Au Au SampleiD Sample ID mg/kg mg/kg mg/kg mg/kg mg/kg J.IQ/kg J.IQ/kg J.IQ/kg

+ 511P + 511P + 511P + 511P + 511P + 703P + 704P + 705P

L11031209 M-3/12.57-12.95 77 56 149 9.8 102 - - 16 L11031210 M-3/19.55-20.5 381 66 93 7.0 408 - - 14 L11031211 M-3/20.5-21.8 464 101 113 10.1 334 - - 54 L11031212 M-3/21.8-22.5 179 347 184 23.7 934 - 106 -L11031213 M-3/22.5-23.84 370 174 180 15.0 845 - - 40 L11031214 M-3/23.84-24.11 375 55 77 4.1 242 - -

Labtium Oy

Laboratory Customer Sr Ti v y Zn Au Au Au Sample 10 Sample 10 mg/kg mg/kg mg/kg mg/kg mg/kg IJQ/kg

IJQ/kg IJQ/kg

+ 511P + 511P + 511P + 511P + 511P + 703P + 704P + 705P

L11031267 M-2/53.15-54.15 102 39 66 4.9 135 - - 15

L11031268 M-2/64.84-65.1 55 53 141 7.2 395 - - 15 L11031269 M-2/65.1-65.8 26 66 155 7.2

2630 - - 6 L11031270 M-2/65.8-66.51 23 56 200 8.3

581 - 53 -L11031271 M-2/66.51-67.24 18 69 331 8.6

204 - 47 -L11031272 M-2/67 .24-68.15 29 75 316 7.0

640 - 36 -L11031273 M-2/68.15-69.04 20 64 228 7.9

902 - 64 -L11031274 M-2/69.04-69.73 15 62 251 8.0

336 - 46 -L11031275 M-2/69.73-71.1 33 103 184 6.1

264 - -

Labtium Oy

Results for Ag AI As 8 Be Ba Ca Cd Co Cr Cu



QCCGS-26 7 12700 321 25

Labtium Oy

Results for Fe K La Li Mg Mn Mo Na Ni p Pb



QCCGS-26 53200 2280 8 17 6670 521 89 1010 105 565 714

QCCGS-26 53900 2350 8 19 6810 525 92 1060 103 561 735

QCCGS-26 - - - - - - - - - - -QCGBMS304-6 63600 3560 21 12 14100 675 11 1320 2260 828

348

QCSOKEA

Labtium Oy

Results for s Sb Sc Sr Ti v y Zn Au Quality Control mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg

mg/kg mg/kg IJg/kg

Samples + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 705P

QCCGS-26 26500 36 4.5 40 819 52 6.1 1590 1690

QCCGS-26 26700 41 4.6 41 850 53 6.2 1600 1750

QCCGS-26 - - - - - - - - 1610 QCGBMS304-6 20700 127 8.0 111 664 110

15.0 1290 -QCSOKEA


Gardiner John 14247 West Iliff Avenue 80228 5421 Lakewood, CO USA

21.04.201114:08:25 Rovaniemi

ANALYTICAL REPORT

ORDER ID


METHOD CODE + 511P + 705P

Labtium Oy

PO Box 57

02151 ESPOO

Phone 01065 38000

Fax 01065 38289

109347 REF:

SAMPLES DETERMINATIONS 44 1364 44 44

Labtium Oy

Auli j a ~~· Labo tory supervisor

Labtium Oy

PO Box 8601

96101 ROVANIEMI

Phone 01 065 38000

Fax 01065 38789

FINAS

MAR SKIN KU USI KKO

RESP. AREA:

SAMPLES: 43

Labtium Oy



109347 21.04.2011 14:08:25









52 Pulverizing of 0,8- 1,5 kg sample in robotic cell







Labtium Oy

Laboratory Customer Sample Weight Ag AI As B Be Ba Ca Sample 10 Sample 10 kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg

32 + 511P + 511P + 511P + 511P + 511P + 511P + 511P

L11036714 M-4/20.3-21.25 1.80

Labtium Oy

Laboratory Customer Cd Co Cr Cu Fe K La Li Mg Sample ID Sample ID mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg

+ 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P

L11036714 M-4/20.3-21.25 4 35 297 67 59400 604 7 13 50400 L11036715 M-4/21.25-22.6 3 52 528 120 74100 974 6 20 57800 L11036716 M-4/22.6-23.6 6 49 551 129 77200 710 4 18 59200 L11036717 M-4/23.6-25 5 44 406 108 77700 653 4 22 57000 L11036718 M-4/25-26.6 5 49 660 141 87700 347 4 23 55500 L11036719 M-4/26.6-28 4 49 844 126 93400 324 3 27 65000 L11036720 M-4/28-29.09 4 44 435 201 103000 242 3 21 54400 L11036721 M-4/29.09-30.65 3 55 859 50 83100

Labtium Oy


+ 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P + 511P

L11036714 M-4/20.3-21.25 2500

Labtium Oy

Laboratory Customer Sr Ti v y Zn Au Sample ID Sample ID mg/kg mg/kg mg/kg mg/kg mg/kg IJQ/kg

+ 511P + 511P + 511P + 511P + 511P + 705P

L11036714 M-4/20.3-21.25 240 36 60 7.5 344 6 L11036715 M-4/21.25-22.6 223 54 100 7.4 140

john j. gardiner & associates, llc · geological consultants denver, colorado, u.s.a. ii report on...

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