Page 21 ter . Constructio n of the new ore pass between the 1075m Level and 925m Level is substantially complete, which will increase productio n capac - ity at Holt. The head grade during the quarter was 5.51 g/t Au. Mill recover - ies were at their expected level of ap - proximately 94%. Holloway produced 5,240 ounces of gold mostly from the Smoke Deep Zone with minor contributio ns from the Lightning Zone. The mill recovery rate of approxi - mately 90% exceeded the company’ s forecast due to improved mineralogi - cal conditions in the areas mined dur - ing the quarter . Development crews continue to pro - vide access for additional areas with - in the Smoke Deep Zone in order to sustain the production profle for the mine. Under ground defnition and ex - ploration drilling continued through - out the quarter with positive results. Hislop produced 5,507 ounces of gold in Q4 2012. The head grade averaged 2.22 g/t Au, which was agai n above the reserve grade for the mine (1.88 g/t Au). Mill recovery for Hislop during the quarter averaged approximately 80%, due to the processing of a signifcant amount of green carbonate-syenitic TIMMINS / MA THESON CAMP ore where the size fraction of the gold was fner than usual, thereby chal - lenging for recovery . At the T aylor Project, the extrac - tion of a 15,000 tonne under ground bulk sample at the W est Porphyry Cont’d from pg. 20 Cont’d on pg. 22 Page 20 Cont’d on pg. 21 By Gregory Reynolds Supported by record fourth quarter 2012 gold production, St Andrew Goldfelds Ltd. is looking forward to an even better 2013. Fourth quarter 2012 production of 25,829 ounces of gold from its Holt, Holloway and Hislop Mines saw the company achieve the mid-ra nge lev - el of its 2012 guidance for a total of 95,604 ounces produced during 2012. St Andrew , operating as SAS Gold - mines, is a gold mining and explora - tion company with an extensive land package in the T immins Mining Dis - trict in Northeastern Ontario. It lies within the Abitibi Greenstone Belt, the most important host of historical gold production in Canada. “W e are very proud of our team for achieving our 2012 productio n guid - ance,” said Jacques Perron, president and CEO of SAS. “Holt ramped up nicely throughout the year , and we expect additi onal im - provements during 2013. W e look forward to receiv ing the complete results from the initial bulk sample at T aylor , which we hope to receive at the beginning of the second quarter . W e will conti nue to work towards meeting our 2013 goals and objec - tives.” SAS owns and operates the Holt, Holloway and Hislop Mines located along Highway 101 east of the com - munity of Matheson that contribute approximately 100,000 ounces of an - nual gold production. The company is also advancing the T aylor Project and is conducting an aggressive explora - tion program across 120km of land straddling the Destor -Porcupine Fault Zone. Holt produced 15,082 ounces of gold derived from Zone 4 from the 925m Level and the 1075m Level mining areas, as well as Zone 6. T otal lateral development advance was above ex - pectations for the quarter and the year . Holt produced at approximately 1,000 tonnes per day during the quar - St Andr ew to build on 4th quarter record production TIMMINS / MA THESON CAMP Page 8 By Gregory Reynolds The Dome Gold Mine in the City of T immins is North America’ s longest continually operating gold mine. That is a fact that the mine’ s present owner , Goldcorp Inc., and the com - munity take great pride in. The mine began production in 1910 and Goldcorp expects to be a major employer in T immins for many more decades. Goldcorp, a leading senior gold pro - ducer operating on three continents, has plac ed its holdings in the Porcu - pine Gold Camp in a subsidiary . Porcupine Gold Mines (Porcupine) consists of two distinct mining opera - tions, Hoyle Pond Under ground and Dome Under ground. As well, there are several lar ge tonnage stockpiles, and a central milling facility . The former famous Hollinger Gold Mine, (1910-1968) will resume life sometime this year after all necessary approvals have been obtained. “These assets, combined with our world-class mill serve to ensure a sustainable future for our employees, their families and our community ,” the company says. In 2012, Goldcorp produced 2.39 million ounces of gold, with Porcu - pine contributing 262,800 ounces of that total. W ith over 800 employees, including contractors, Porcupine is a major employer in T immins. T immins Mayor T om Laughren stresses that the perception that mines are short term operations is wrong. “Every day that the Dome operates reminds us that no one knows how much gold exists in and around T im - mins. Mining is an industry that led to the crea tion of T immins and in 2012 we celebrated our 100th anniversary , disproving the theory that gold min - ing communities are inherently un - stable economically . T immins has a rich past and a bright future based on natural resources.” The mayor said the multi-mil lion dol - lar expansion of the Hoyle Pond op - eration has lengthened its life to 13 years and on-going exploration could extend that estimate. Goldcorp president and CEO Chuck Jeannes said on Jan. 7 that “at Por - cupine, gold production in 2013 is expected to be between 270,000 and 280,000 ounces. The Hoyle Pond Deep project continued to advance to access both depth extensions of cur - rent ore bodies and newly-discovered zones and to enhance fexibility and effciencies throughout the opera - tion.” He added that “progress is steadily advancing on a deep under ground shaft (winze) that will provide in - creased access to recently discovered zones such as the TVZ and V AZ in the under ground Hoyle Pond mine operation and signifcantly extend the mine’ s productive life. Successful exploration drilling at Hoyle Pond has demonstrated im - proving gold grades and the extension of several gold structures at depth. This success is spurring new invest - ments in mine development to posi - tion the revitalized Porcupine mine complex for long-term success.” In the past, the company has said Hoyle Pond contains some of the highest grade of gold ore ever found in the Porcupine Camp. Goldcorp is a leading senior gold pro - ducer with low cost operations and development projects located in polit - ically stable jurisdictions throughout North, Central and South America. It strives to deliver sustainable prosper - ity to its stake¬holders and remains frmly focused on the elements that continue to drive its success: industry leading growth, low cost production, maintaining an outstanding balance sheet, developing operations in low- risk jurisdictions and a commitment to sustainability . The company has 12 operatio ns, pro - ducing gold, silver , copper , lead and zinc, and six development projects. Three of the operations are in On - tario, Porcupine, Red Lake and Mus - selwhite. key foundation of local economy Goldcorp’ s T immins Operations TIMMINS / MA THESON CAMP Hoyle Pond rich mine Page 9 O ur p ro d u c t . O u r p e op l e . 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