FEASIBILITY STUDY 2012 (my estimate)

Reserves 1.1Moz

Annual Production 137K oz/year

Mine Life 8yrs

Production starts in Q4 2014

Operating cost $520/oz (below industry average of $559/oz)

Cost (initial) of $210M

Base case $1,400/oz gold

NPV $500M @ $1,400 gold

IRR 70%@ $1,400 gold

PREFEASIBILITY STUDY 2010

http://www.tyhee.com/properties/prefeasibility_study.php

Reserves 811,200oz

Annual Production 103K oz/year

Mine Life 7yrs

Production starts in 2015

Production cost $541/oz

Cost (initial) of $174M

Base case $950/oz gold

NPV $71M @$950 gold

IRR 16% @ $950 gold

PRELIMINARY ASSESSMENT 2008

http://www.tyhee.com/properties/yellowknife_preliminary_assessment.php

Zero Reserves

Annual Production 165K oz/year

Mine Life 7yrs

Operating cost $384/oz

Base case $750/oz gold

Cost (initial) $150M

NPV $144M @750 gold

IRR 21% @$750 gold