CIM Toronto Branch Luncheon - Thursday, May 19th, 2011

Reception: 12:00 Lunch: 12:30

National Club, 303 Bay Street

Miranda J. Werstiuk, Vice-President

IBK Capital

“Funding a New Mining Camp” - The Ring of Fire, Northern Ontario

In August 2007, results from a single high grade diamond drill hole by Noront Resources set off a massive staking rush in Northern Ontario's James Bay Lowlands. Subsequent to that, over 2,000 claims were staked in a 6 month period and the "Ring of Fire" came into existence.

Over the last 4 years, the Ring of Fire has quickly become part of the fabric of the Canadian mining industry, with nearly 40 major, mid-tier and junior resources companies actively exploring for copper, nickel, chromite, vanadium, platinum and palladium today. Fundraising and MOtA transactions with a combined value of more than $500 million have been completed in order to fund and facilitate the ongoing exploration activity.

Ms. Werstiuk will be speaking to our experience at IBK Capital in raising funds for this new exploration and mining camp. IBK Capital has completed approximately $265 million worth of transactions for mining development in the Ring of Fire for 10 junior mining companies who have discovered metal in the ground.

Starting with Noront Resources' discovery in 2007 on the Ring of Fire and moving to Cliffs Natural Resources Inc. acquisition of the Black Thor chromite deposit in 2010 and its projected $1.5 billion mining operation, Ms. Westiuk will look at what needed to be accomplished at each stage, the challenges faced and the overall experience.

Many Thanks To Golder for Sponsoring

This Month’s Luncheon Reception!