Page 43 meter haulage drift that will transport ore from the Bruce Channel to Red Lake s existing Campbell milling fa cilities has advanced to 57 comple tion Progress has advanced as expected and is on track to be 66 complete by year end A study of the overall project which will provide updated project costs and derway and expected to be complete soon The study incorporates changes in the mine design and development resulting from exploration results ob tained over the past two years The company also reported that dur ing 2012 production at Red Lake has been af fected by slower thanexpect ed destressing at the 41 and 45 levels in the High Grade Zone to address in creased seismicity High Grade Zone destress work was successfully completed on the 41 level late in the second quarter De stress work at the 45 level has now been completed allowing access to production stopes Over the remainder of 2012 the company will continue to evaluate the impact on Red Lake s longterm accessing High Grade Zone reserves as well as continued grade variability in the Footwall Zone Until further study of these issues has advanced the range of production expectations for Red Lake beyond the current year range provided for 2012 of between 460000 and 510000 ounces During was 218200 ounces at cash costs of 568 per ounce and the mine remains on track to achieve 2012 production guidance During the second quarter of 2012 successful drilling results continued from Red Lake s 4199 exploration ramp Numerous intercepts have high grade mineralization between levels 52 and 55 Drilling is also indicating the pres ence of high grade intercepts deeper at the 57 level Successful drilling r e sults continue for Red Lake Mine during second quarter 2012 Contd from pg 42