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Resources

MEASURED & INDICATED RESOURCES
Class Cutoff
Ounces
Silver/Ton
Tons Grade
Ounces
Silver/Ton
Ounces Silver
Measured 4.0 100,000 8.73 888,000
Indicated 4.0 1,110,000 9.15 10,171,000
Measured +
Indicated
4.0 1,210,000 9.14 11,059,000
INFERRED RESOURCES
Class Cutoff
Ounces
Silver/Ton
Tons Grade
Ounces
Silver/Ton
Ounces Silver
Inferred 4.0 870,000 7.47 6,511,000
 
  • Mine Development Associates ("MDA"), an independent mining consulting firm, prepared the resource estimate for Shafter, with an effective date of December 11, 2015.  All units of measure are U.S. Customary.
     
  • Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the estimated Mineral Resources will be converted into Mineral Reserves. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
     
  • The Mineral Resource estimate was undertaken by Paul Tietz, CPG of Mine Development Associates, Inc. (“MDA”) of Reno, Nevada, a qualified person (“QP”) as defined under NI 43-101. The Mineral Resource was estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM"), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the Standards Committee on Reserve Definitions and adopted by the CIM Council on May 10, 2014.
     
  • Viewers are advised that a Technical Report containing the foregoing resource estimate is available on SEDAR (www.sedar.com). The report titled “Preliminary Economic Assessment and Updated Technical Report on the Shafter Project, Presidio County, Texas”, dated September 13, 2016, as amended and updated January 25, 2017. (the “Technical Report”). The Technical Report was prepared for Aurcana by Paul Tietz, CPG, Neil Prenn, P.E., Edwin Peralta, P.E of Mine Development Associates, Inc., and George Burgermeister, P.E of Samuel Engineering, Inc.. Mssrs. Tietz, Prenn, Peralta, and Burgermeister are Qualified Persons as defined under National Instrument 43-101.

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