2012 Nova Scotia Mineral Incentive Program Diane Webber

2012 Nova Scotia Mineral Incentive Program Diane Webber October 29, 2012 Program Structure and Some Early Results Natural Resources

The Goal “increase and promote mineral exploration leading to further development of mineral properties and new, producing mines in Nova Scotia ” Natural Resources

Previous Programs in NS • N. S. had MISP (1980’s) and PAP (1990’s) • MISP = fed ≤$50 K; PAP = fed/prov $5 K • PAP $5, 000 grants were popular and successful: - Zeolite play (C 2 C - North Mountain ~ $300 k) - Trout Lakes, C. B. (Regal Goldfields ~$150 k) - Birth of Gammon Lake Resources ($2. 2 B) - Training of many of today’s prospectors Natural Resources

2012 NSMIP Components • Total 2012 Budget $700, 000 • Prospector Grants • Advanced Project Grants • Prospector Training • Prospector Marketing and Assistance Natural Resources

Grant Application Evaluations • Review and Evaluation Committee • Application scoring included: – Potential that NSMIP input will advance the property – Geological potential of the property and commodities of interest – Quality and presentation of the proposal – Exploration model assessment (innovative model, new spin, new zones) – Applicant’s technical and financial ability to complete Natural Resources

Prospector Grants - 2012 • Up to $15 k/yr straight grant, registered prospectors • Grass roots level exploration on staked properties • In-the-ground exploration support (i. e. not salary) - Assays, trenching, DDH, surveying, rentals, etc. - GPS, safety devices and First Aid course • 39 Prospector Grant applications • 16 grants awarded totaling $164, 805 Natural Resources

Advanced Project Grants - 2012 • Exploration companies, beyond grass roots • Hold mineral rights or option agreement • Up to 50% NSMIP input to max. $100, 000 • In-the-ground exploration support (i. e. not salary) - DDH, assays, trenching, geophysics, geochem - Metallurgy, NI 43 -101, community engagement • 28 Advanced Grant applications • 13 grants awarded totaling $440, 000 Natural Resources

NSMIP Grant Distribution, 2012 Natural Resources

How We Compare Nationally Province Amount Nfld & Labrador $2, 000 New Brunswick $1, 000 Manitoba $1, 000 Nova Scotia $700, 000 Yukon Min. Exp. Tax Credit Flow Through Prog. $570, 000 Nunavit & NWT $50, 000 ($≤ 8 K) Quebec & B. C. Saskatchewan Ont. , Alta. , PEI Natural Resources

Prospector Marketing and Training Prospector Marketing Assistance ($35, 000) • Conferences and promotional material • Up to $1, 250/yr per prospector Prospector Training ($50, 000) • Considering concept of an online, module-based, prospector training course supplemented with field training Natural Resources

Preliminary Results Natural Resources

Natural Resources

Cu Lake Cu-Au (IOCG) – Minotaur Atlantic Natural Resources

Residual Gravity Map, Copper Lake area Perspective view of Cu Lake gravity target with DDH’s Natural Resources

Cu Lake Cu-Au (IOCG) – Minotaur Atlantic DDH CL 12 D 01 – Minotaur Atlantic IOCG-style quartz-sericite alteration and brecciation IOCG-style hematite-pyrite-carbonate vein Natural Resources

Gypsum - Port Hawkesbury Area Acadia Drywall Supply Limited Natural Resources

Gypsum Deposit Evaluation Sites Acadia Drywall Supply Limited Ashfield Site Beaver Dam Lake Site Acadia Drywall Plant, Point Tupper Natural Resources

Zone 6 B Au Prospect – C. B. Highlands Joe Richman Natural Resources

Positive Results from 2012 Trenching Zone 6 B trench from earlier trenching Au-bearing vein from 2012 trenching (Au assays 21 g/t, 9 g/t, 7 g/t) Natural Resources

Thank You Natural Resources