Page 98 Cont’d on pg. 98 T emex achieves T immins milestone with new Whitney pr oject r esour ce By Gregory Reynolds Exploration of the former produc - ing Hallnor Gold Mine by T emex Resources Corp. has come up with a high grade near surface gold re - source. The company announced Sept. 5 that an initial NI 43-101 Resources of Measured and Indicated 790,200 oz gold and inferred 241,000 oz gold at Upper Hallnor , Whitney Gold Project in T immins. Ian Campbell, T emex president and CEO, commented “this is an important milestone for the com - pany since it is the initial resource estimate based on our exploration ef forts on this highly prospective property . The high-grade, near -sur - face gold resource announced today is just from the Upper Hallnor Mine area, the portion of the property ac - quired in July 2010. It valid ates our thesis that T emex controls a very attractive asset stra - tegically located in Canada’ s most prolifc gold mining district. W e are particularly pleased with the high gold grade of the resources, amenable to open pit mining, which exceeds those that have been re - cently mined directly along strike to the east at lower gold prices. Furthermore, excellent potential for expansion of the resource has been demonstrated by our drilling along a 1.5 kilometre strike length to the west including the Upper Broulan Reef Mine where we have inter - sected gold mineralization with drill results up to 37.90 g/t gold over 8.80 metres.” The mineral resource estimate iis for the Upper Hallnor portion (top 550 metres) of the Whitney Gold Prop - erty . T emex holds 60 is the operator of the joint venture. Goldcorp Canada Ltd. holds 40 as manager and on behalf of the Porcupine Gold Mines Joint V enture (a joint venture be - tween Goldcorp Inc. and Goldcorp Canada). The initial mineral resource statement was prepared in accordance with NI 43-101 standards by PE Mining Consultants Inc., of Brampton, On - tario, with a database incorporat - ing 247 surface diamond drill holes (70,094 metre s) drilled by T emex between 2005 and 2012, and 9,870 historic drill holes (477,694 metres) drilled by previous operators. The mineral resource estima te was prepared with the objective of defn - ing gold resources which would be amenable to open-pit mining meth - ods, similar to open pits that have been mined subsequent to previous under ground operations on strike directly to the east. PE also performed a sensitivity analysis on the resource model us - ing dif ferent cut-of f grades. This analysis revealed a substantial high - er grade mineral inventory that may be amenable to stand-alone under - ground mining operations which are more selective than open pit mining methods. A new property acquired by T emex has company offcials happy after positive results from a diamond drill program. On July 23, T emex announced re - sults from the eight-hole 3,255 metre drilling of the Golden Lake Property after it acquired an option to earn a 100 per cent interest. It was T emex’ s frst drill campaign on the Golden Lake Property which is lo - cated adjacent to, and along strike of, its 100owned Juby Deposit. Golden Lake is part of the Juby Gold Project, located in T yrrell T ownship in Northeastern Ontario, 100 kilo - metres south of T immins, Canada’ s lar gest gold camp. The Juby is situated along the south - western extension of the Larder Lake -- Cadilla c Fault Zone system between the Y oung-Davidson de - posit at Matachewan being devel - oped by AuRico Gold and the Cote Lake deposit in Chester T ownship now owned by IAMGOLD Corpo - ration. The Juby contains a National Instru - ment 43-101 (NI 43-101) compliant gold resource of 934,645 ounces at a grade of 1.30 g/t in the indicated category plus 905,621 ounces at a grade of 1.0 g/t in the inferred cat - egory (both calculated using a cut- of f grade of 0.40 g/t). Another key asset of T emex is the “The Porcupine Camp” A New Golden Era Page 96