Feb 18th

Wellington West

Deep Mineralization Intercepts Hint at
Potential 007 and L10 Zone Extensions

• Drilling from Rice Lake Mine targets area beneath 007 & L10 zones.
All 6 holes hit min’zn at depths of ~1,400 m with avg grade of 11.3 g/t
over 4.2 m; best results were 11.7 g/t over 12.3 m & 10.3 g/t over 17.7 m.

• Results support thesis of possible extension of 007 & L10 to depth.
Drilling moves to 16th & 26th levels of Rice Lake Mine targeting the gap
from 007 & L10 zones down to -1400 m to determine min'zn continuity.
• Bulk sample from 007 Mine is anticipated by the end of Q1/11.

Mining of L10 zone targeted for early Q2/11. Drilling continues to target
L10, L13 & 007 zones; resource update expected this quarter.

• We reiterate a Buy recommendation and maintain our $4.75 target.
Share re-rating hinges on improved operational proficiency with next data
point being Q4/10 results, but increased working faces key value driver.