Page 69 Scan t his QR code wit h an y SMAR T Phone R eader App f or k ar lif tsolutions w eb sit e The Leader in HD Platf or m Lif ts f or o v er 30 y ear s 1 48 models t o c hoose fr om • 6 models fr om 4 4,000 lb. to 99,000 lb. capacity • 6 r un w a y s lengt hs • Electr onic or v olume tr ic contr ol sy s t em • P o wder coat ed or g al v anized K ar Lif t P ant og r aph HD Lif t Lif t Mor e, Lif t Higher , Lif t F as t er Call no w f or de t ails 8 7 7-799-5 438 www .k ar lif tsolutions.com K450-1 0-M Page 68 Scan t his QR code wit h an y SMAR T Phone R eader App f or k ar lif tsolutions w eb sit e The Leader in HD Platf or m Lif ts f or o v er 30 y ear s 1 48 models t o c hoose fr om • 6 models fr om 4 4,000 lb. to 99,000 lb. capacity • 6 r un w a y s lengt hs • Electr onic or v olume tr ic contr ol sy s t em • P o wder coat ed or g al v anized K ar Lif t P ant og r aph HD Lif t Lif t Mor e, Lif t Higher , Lif t F as t er Call no w f or de t ails 8 7 7-799-5 438 www .k ar lif tsolutions.com K450-1 0-M Ontario and the Snap Lake, 220 km northeast of Y ellowknife. The work plan for Chidliak is estimat - ed at $5 million. The bulk sampling program, currently being funded by Peregrine, is budget - ed at $3 million. Ongoing work being funded by De Beers, budgeted at $2 mill ion, in - cludes a comprehensive desktop min - ing study , kimberlite pipe character - ization studies, ground geophysics, and new tar get generation work. De Beers’ expenditures will be applied to its earn-in obligation of $58.5 mil - lion should it enter into the JV Agree - ment. In the event De Beers does not elect to enter into the joint venture, Peregrine will not be required to re - fund these expenditures. De Beers says the Chidliak contains 61 diam ondiferous kimberli tes, and the agreement enables De Beers to start mineral exploration and develop - ment work in 2013 to assess the proj - ect’ s techno-economic viability . De Beers is a member of the Anglo American plc group. In 2012, Anglo American plc completed its acquisi - tion of a further 40 per cent interest in De Beers, bringing total shareholding to 85 percent. In light of prevailing diamond market trends as well as operational challeng - es, the company’ s stated strategy of producing to demand was maintained in 2012, with 27.9 million carats re - covered in 2012 (201 1: 31.3 million carats) while operations continued to focus on maintenance and waste strip - ping backlogs. In Canada, production remained rel - atively steady at 1.6 million carats (201 1: 1.7 million carats). Of total carat recovery , V ictor Mine delivered 0.7 million carats (201 1: 0.8 million carats) and Snap Lake Mine produced 0.9 million carats (201 1: 0.9 million carats). Established in 1888, De Beers is the world’ s leading diamond com - pany with unrivalled expertise in the exploration, mining and marketing of diamonds. T ogether with its joint venture partners, De Beers employs more than 23,000 people across the diamond pipeline, and is the world’ s lar gest diamond producer , by value, with mining operations in Botswana, Canada, Namibia and South Africa. This jointly funded Chidliak program has been designed by Peregrine and De Beers to meet two objectives. Firstly , information from the bulk sample at CH-6 together with the desktop mining study , scheduled for completion this quarter , will be in - strumental in the advanceme nt of the project towards development. Secondly , the results of the kimberlite characterization studies, ground geo - physics and tar get generation work will optimize future programs that will include the evaluation of known kimberlites with economic potential and exploration for new kimberlite pipes. Nunavut is the lar gest, northernmost and newest territory of Canada. It was separated offcially from the North - west T erritories on April 1, 1999. Cont’d from pg. 66 Baffn bulk sample funded by Per egrine Diamonds Ltd. Core drill at CH-6 kimberlite