FIFTH YEAR ASSESSMENT REPORT

On

GRAVITY & DIAMOND DRILLING

on the

Cornerstone Option Bobby’s Pond Property,

Mineral Licence 11918M,

Central Newfoundland, NTS 12A/10,

by

GARY WOODS, P.Geo.

Work Conducted: May - December 2009 Total Claims: 62

Total Expenditures : $106726

December 17, 2009

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TABLE OF CONTENTS

Page Summary ....................................................................................................................................... ii Introduction ................................................................................................................................... 1 Location and Access..................................................................................................................... 1 Property Status ............................................................................................................................. 2 Acknowledgements....................................................................................................................... 3 Regional Geology ......................................................................................................................... 4 Property Geology and Mineralization ............................................................................................ 5 Previous Work ............................................................................................................................ 10 2009 Program ............................................................................................................................. 14

Gravity Survey…………………………………………………………………………………..14 Diamond Drilling …………………………………………………………………………….....16

Conclusions & Recommendations…………………………………………………………………….21 Professional Certification……………………………………………………………………………….23 References……………………………………………………………………………………………….24

Tables Table No. Page 1 Claim status, Bobby’s Pond property ................................................................................ 2 2 Bobby’s Pond project, personnel and contractors ............................................................ 3 3 Summary of previous drilling, Bobby’s Pond property .................................................... ..8 4 2009 Drill Hole Collar Summary ……………………………………………………………...17

Figures

Figure No. Page 1 Property Location Map ...................................................................................................... 2 2 Claims Location Map ........................................................................................................ 3 3 Tectonostratigraphic Map ................................................................................................ .4 4 Generalized Geology of the Red Indian Lake Area……………………………………….….5 5 Geology of the area in the immediate vicinity of the Bobby’s Pond property………………7 6 Location of 2008 Intercept…………..…………………………………………………….…….15 7 First Derivative Gravity ...……………………………………………………………………….16 8 2008,2009 Drill Holes on 1st Derivative Gravity and Pb in Soils...…………………………..17 9 Drill Hole - Section 16700E Looking NE……………………………………………………….18 10 Drill Hole – Section 16500E Looking NE………………………………………………………19 11 Drill Hole – Section 16200E Looking NE……………………………………………………….20 12 2008, 2009 Drill Hole Plan……………………………………………………………………….21

Appendices I STATEMENTS OF EXPENDITURES ll DIAMOND DRILL LOGS lll SAMPLE INTERVALS AND ASSAY CERTIFICATES - DRILL CORE IV GRAVITY SURVEY DATA, LOGISTICS REPORT & INTERPRETATION REPORT

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SUMMARY The Bobby’s Pond property consists of 62 map staked claims covering prospective sedimentary and felsic volcanic rocks extending northeast and southwest of the Bobby’s Pond volcanogenic massive sulphide deposit. The property was acquired by Cornerstone Resources Inc. through staking during the fall of 2004, winter of 2005 and spring of 2005. The property currently comprises map staked mineral licence 11918M. The claims were acquired to explore for economic accumulations of volcanogenic massive sulphides based on the exploration potential of the area demonstrated by the Bobby’s Pond massive sulphide deposit. This deposit is currently held by Mountain Lake Resources Inc. under Mining Lease 187 (4881). The deposit was discovered by Inco in the winter of 1988 (Bell, 1988) and a compilation of their exploration work indicates that altered felsic volcanic rocks hosting mineralization at the deposit likely strike onto the current Cornerstone property. The Bobby’s Pond Deposit contains indicated resources of 1,095,000 tonnes of 0.86% Cu, 4.61% Zn, 0.44% Pb, 16.6 gpt Ag, and 0.2 gpt Au in addition to an inferred resource of 1,177,000 tonnes of 0.95% Cu, 3.75% Zn, 0.27% Pb, 10.95 gpt Ag and 0.06 gpt Au. (NI 43-101 compliant resource calculation (Agnerian, H., 2008). In Februrary, 2007 Cornerstone Capital Resources Inc. (Cornerstone) and Mountain Lake Resources Inc. (Mountain Lake) signed an agreement whereby Mountain Lake could earn the right to acquire a 51% interest in the property by spending a total of $2.75 million on exploration over a 5 year period in addition to granting 200,000 Mountain Lake shares to Cornerstone over the same time period. This report covers the results of the 2009 exploration program conducted by Mountain Lake starting in June, 2009 comprising gravity surveying and diamond drilling to follow up on a new zone of mineralization discovered during the 2008 drill program.

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INTRODUCTION The Bobby’s Pond property consists of 62 map staked claims covering prospective sedimentary and felsic volcanic rocks extending northeast and southwest of the Bobby’s Pond volcanogenic massive sulphide deposit. A compilation of previous work on the property was done by Cornerstone following acquisition of the property and Mountain Lake conducted a drill program and downhole Pulse EM survey on the mineral license in 2007 following reaching an agreement with Cornerstone for the property. Mountain Lake and Cornerstone reached an agreement in February 2007 whereby Mountain Lake could earn a 51% interest in the property and took over all exploration activities. Mountain Lake drilled three holes in an alteration zone situated south-southwest of the Bobby’s Pond Mining lease totaling 956.5 metres in May and early June 2007. Two of the holes contained low grade mineralization while the third hole contained no significant mineralization. The 2008 field program focused on the area to the northeast of the Bobby’s Pond Mining Lease which resulted in a drill intersection of 0.6 metres with 7% Zn, 0.15% Cu, 4.7% Pb, 80.6 ppm Ag and 1051 ppb Au in one of the five holes drilled. This report covers the 2009 exploration program which consisted of gravity surveying and follow up diamond drilling in the vicinity of the 2008 intercept. LOCATION AND ACCESS The Bobby’s Pond property is located in central Newfoundland, 17 km south of the town of Buchans (Figure 1). The property is situated within N.T.S. map sheet 12A/10 and lies between Bobby’s Pond in the west and the Victoria River to the east. The property is readily accessible by logging roads originating from the town of Millertown, 20 km to the northeast, and nearly surrounds Mining Lease 187 (4881) which hosts the Bobby’s Pond massive sulphide deposit (held by Mountain Lake Resources Inc.).

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PROPERTY STATUS The property consists of 62 map staked claims (Figure 2) currently held under one licence as described in Table 1 below. The six original licenses were grouped after the submission and acceptance of the first year assessment report. The project is held 100% by Cornerstone Resources Inc. with no underlying property agreements. Mountain Lake Resources Inc. has the right to earn an initial 51% interest in the property by making exploration expenditures and granting of shares to Cornerstone and can earn up to 75% by advancing the property to production. Table 1. Claim status, Bobby’s Pond property. Licence # Claims Issued Report Due Owner 11918M 62 2004/11/22 2009/01/22 Cornerstone Resources Inc.

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ACKNOWLEDGEMENTS A list of personnel and contractors who worked on the Bobby’s Pond project is presented in Table 2 below. Table 2. Bobby’s Pond project, personnel and contractors.

PERSONNELName Position Residence Darrell Rankin Geologist, Mountain Lake Kentville NS Gary Rowsell Technician, Mountain Lake Buchans, NL Gary Woods Geologist, Mountain Lake Port Williams, NS Roy Holloway Prospector, Mountain Lake Buchans, NF Springdale Forest Resources Diamond Drilling Contractors Springdale, NF Eastern Geophysics Geophysical Contractor West Pubnico, NS

Steve King Geophysicist Ottawa, ONT

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REGIONAL GEOLOGY The Bobby’s Pond property lies within the Dunnage tectonostratigraphic zone of central Newfoundland (Williams, 1979). The Dunnage Zone is characterized by a series of Cambrian to Ordovician island arc and back arc basins that trend in a southwest to northeast direction throughout central Newfoundland (Figure 3). The Dunnage Zone can be further subdivided into two subzones, the Exploits Subzone to the southeast and the Notre Dame Bay Subzone to the northwest (Williams et al., 1988). The Bobby’s Pond property is situated within the Exploits Subzone, and covers a portion of the Victoria Lake supergroup known as the Tulks Volcanic belt or Tulks Hill volcanics.

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The Victoria Lake Group (Kean, 1977) or more recently supergroup (Evans and Kean 2002; Rogers and Van Staal, 2002), is defined as a composite, structurally complex assemblage of belts dominated by either oceanic arc volcanic rocks or volcaniclastic to epiclastic sedimentary rocks. Volcanic affinities range from island-arc, rifted-arc, back-arc and mature-arc (Swinden et al., 1989; Evans and Kean 2002). Episodes of major tectonism are generally regarded to have occurred in two phases: southeastward-directed thrusting followed by dextral transcurrent faulting. In general, a regional penetrative foliation is inhomogeneously developed subparallel to bedding and axial planar to tight folds; most of the rocks are at the lower-greenschist facies of metamorphism.

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The Tulks Hill volcanics extend from Henry Waters (Victoria Lake) in the southwest to just northeast of where the Victoria River enters Red Indian Lake (Kean and Jayasinghe, 1980). According to Evans and Kean (2002), the belt is bound to the northwest by the structurally overlying Harbour Round Formation (though these volcaniclastic and sedimentary rocks conformably overlie the Tulks Hill volcanics in the north) and delimited in the southeast by the regional vertical gradient anomaly that separates it from the Long Lake belt. Volcanic units of the Tulks Hill volcanics are dominated by felsic rocks with subordinate basalts occurring over a northeast striking belt ~65 km long and up to ~15 km wide; volcaniclastic and siliciclastic rocks are commonly intercalated with the volcanic units and locally envelope bodies of volcanic rock.

Figure 4. Generalized geology of the Red Indian Lake area showing Victoria Lake supergroup, and selected mineral deposits: B=Boundary, Bo=Bobby’s Pond, BP=Burnt Pond, Da=Daniels Pond, DP=Duck Pond, JP=Jacks Pond, LL=Long Lake, TE=Tulks East, TH=Tulks Hill, and VM=Victoria Mine. Volcanogenic sulphide mineralization is well documented in the various volcanic terranes of the Victoria Lake supergroup and can be divided into two main chronological subgroups: (i) those of the Early Cambrian and possibly older Tally Pond assemblage and (ii) those of the Late Cambrian and possibly younger Tulks Hill volcanics (Rogers and Van Staal, 2002). The Duck Pond deposit represents the most significant VMS occurrence in the Victoria Lake supergroup and is currently being mined by Teck Cominco Limited. Within the Tulks Hill volcanics there are a number of historical VMS

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occurrences including the Tulks Hill, Tulks East, Daniel’s Pond, Bobby’s Pond, and Victoria Mine deposits/prospects. The Boomerang, Hurricane and Domino prospects, significant new VMS occurrences in the Tulks Hill volcanics, were discovered by Messina Minerals Inc. in December of 2004. The Boomerang Deposit contains a NI 43-101 compliant of 1,319,700 tonnes of 7.3% Zn, 0.52% Cu, 3.1% Pb, 1.68 gpt Au, and 112 gpt Ag of indicated resources and an additional 266,100 tonnes of 6.95% Zn, 0.45% Cu, 2.96% Pb, 1.32 gpt Au, and 99.3 gpt Ag of inferred resources. The Domino contains a NI 43-101 compliant inferred resource of 359,000 tonnes of 7.0% Zn, 0.4% Cu, 3.1% Pb, 0.7 gpt Au, and 108 gpt Ag ( all resources De Mark, P.; Dearin, C., 2007). Mountain Lake Resources Inc. updated the Bobby’s Pond resource in 2008 which now has indicated resources of 1,095,000 tonnes of 0.86% Cu, 4.61% Zn, 0.44% Pb, 16.6 gpt Ag, and 0.2 gpt Au in addition to an inferred resource of 1,177,000 tonnes of 0.95% Cu, 3.75% Zn, 0.27% Pb, 10.95 gpt Ag and 0.06 gpt Au. PROPERTY GEOLOGY AND MINERALIZATION The Bobby’s Pond property is underlain by a mixed sequence of felsic volcanic, mafic volcanic and sedimentary rocks of the Tulks Hill volcanics (Evans and Kean, 2002). The geology of the area is best known around the Bobby’s Pond volcanogenic massive sulphide deposit where Inco conducted concentrated exploration programs (e.g., Bell, 1989). Stewart and Beischer (1993) describe the property and deposit area geology as follows:

“The property is characterized by a thick, compositionally bimodal, felsic-dominated volcanic

sequence interrupted by sedimentary horizons of varying thickness. The sediments occupy only a minor part of the northeastern and southwestern portions of the property, but dominate the central portion. The felsic flow rocks range from rhyodacite to rhyolite, and vary from aphyric to quartz porphyritic with phenocrysts up to five millimetres. Felsic pyroclastic rocks include fine grained tuff, lapilli tuff and agglomerate which are generally monolithic; local heterolithic lapilli tuff to agglomerate units contain clasts of sedimentary and mafic volcanic origin. Mafic flows up to 100 m thick are massive and locally vesicular and amygdaloidal. Pillow lava is rare. In the volcanic-dominated areas, the sediments occur as narrow bands generally less than 5 m thick. Variably graphitic argillite and interbedded greywacke are the most common sediment types observed. This sequence of sedimentary and volcanic rocks forms a steeply dipping northwest-facing homocline.

The immediate stratigraphic footwall of the deposit is characterized by quartz-phyric

rhyolites and dacites with quartz eyes up to several millimetres set in an aphanitic matrix. Some of these porphyritic felsic rocks may be intrusive. The hanging wall rocks consist of strongly altered andesite and basalt intercalated with rhyolite breccia and felsic flows. Silicification in these mafic rocks is intense with up to 75% Si02, coupled with hematization, and high Na2O values.

The rocks on both sides of the deposit range from undeformed to strongly foliated or

schistose. The sericite content increases with the intensity of foliation, and where strongly sheared, the rocks become schistose and are carbonatized. Foliation in the rocks around the deposit, and throughout the property, is between 045 and 070 degrees, with a steep to vertical dip. Shear-related structures such as chevron folds are locally visible, and in places, fault gouge is developed. Sigmoidal clasts indicate a sinistral sense of horizontal displacement along the shear planes. Little evidence for vertical displacement is observed. “

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The most significant mineral occurrence in the property area is the Bobby’s Pond deposit (MODS 012A/10/Zn 001) which was discovered in late 1988 during follow-up drill testing of a coincident geochemical-geophysical anomaly.

Figure 5. Geology of the area in the immediate vicinity of the Bobby’s Pond property, (taken from Agnerian, 2007)

Base metal mineralization at Bobby’s Pond is hosted within an approximately 100 m wide northeast trending zone of visibly discernable alteration within the felsic volcanic rocks, the boundaries of the zone being essentially conformable with lithologic contacts. The alteration zone contains at least five nearly vertical mineralized lenses, with thickness ranging from 2 m to 15 m. The mineralized zones have been traced along strike for approximately 275 m and to a vertical depth of approximately 500 m. At depth the main zone (Lens 2) is thinner than near the surface. Two other lenses (Lens 3 and 4, however, extend to depths of more than 500 m below the surface, and the newly discovered lens (Lens 5) extends from 300 m below the surface to 400 m below the surface. In general, the mineralized lenses show metal zoning, with relatively zinc-rich (upper) and copper-rich (lower) segments. The high-grade zones pinch and swell, or have some lateral discontinuity. The mineralized units are enveloped by lower grade material, commonly declining gradually in grade

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outwards, from 0.25% Cu to barren rock. Within the main mineralized zone, grade is variable, commonly within the range from 0.5% Cu to 5% Cu and1% Zn to 44% Zn.

Recent work by Hinchey indicates that the Bobby’s Pond deposit may not be a ‘typical’ volcanogenic massive sulphide deposit but may be a hybrid bimodal felsic VMS – epithermal deposit and that some of the sulphides replaced the host rhyolite instead of being exhaled onto the sea floor. The epithermal characteristics include aluminous and clay alteration that usually accompany highly acidic conditions associated with magmatic generated fluids, rather than seawater circulation. The Bobby’s Pond deposit was tested by 28 diamond drill holes completed by Inco during 1988 and 1989. All of these drill holes, as well as several others, are within the confines of the current Mountain Lake Resources Inc. mining lease. Mountain Lake Resources drilled an additional 39 holes within the mining lease from 2005 to 2007 (Mountain Lake News Release June 20, 2007). Outside of the mining lease, drilling has been conducted on a fairly cursory basis with only 17 holes drilled within the current Cornerstone property, 2 holes drilled just outside the property boundary and several holes drilled to the northeast of the property. These holes, drilled by Inco and other previous workers in order to test various geophysical and/or geochemical targets, are widely spaced and often tested the same horizon. As a result, the geology of the Bobby’s Pond property is less well understood than the immediate area around the deposit. A summary of previous drilling on and near the current property is included within this report as Table 4 below. Table 3. Summary of previous drilling, Mineral License 11918M (Bobby’s Pond) property.

Company Year Hole Azim.(º) Depth (m) Dip (º) ReferenceCominco-Hansa 1973 BP-2 125 137.16 -50 no reference located

BP-3 315 109.42 -50 no reference located

Noranda 1977 361-1 320 80.16 -50 Dimmell and Reid, 1977361-2 310 76.20 -50 Dimmell and Reid, 1977361-3 320 98.95 -50 Dimmell and Reid, 1977

Granges 1983 VR-13 315 90.50 -45 Zbitnoff, 1983VR-14 315 41.80 -45 Zbitnoff, 1983VR-15 315 124.10 -45 Zbitnoff, 1983

Granges 1984 VR-17-84 315 128.00 -45 Williams, 1985VR-18-84 324 28.96 -45 Williams, 1985VR-19-84 286 91.44 -45 Williams, 1985

Inco 1988 77521 317 153.92 -45 Bell, 198877522 317 153.92 -45 Bell, 198877523 317 153.92 -45 Bell, 198877524 317 163.07 -45 Bell, 198877533 137 149.66 -45 Bell, 198977534 317 156.36 -45 Bell, 1989

Inco 1995 80435 317 32.00 -60 Bell, 199680436 317 514.20 -60 Bell, 1996

Total 2483.74

Drill Hole Compilation

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Outside of the Bobby’s Pond deposit, there are only three mineral occurrences shown to occur on the Bobby’s Pond property as indicated in the Newfoundland Geological Survey’s mineral occurrence database (MODS). These are known as the Bobby’s Pond East Zinc #1, #2 and #3 showings (MODS 012A/10/Zn 003, -004 and -005). They all consist of sphalerite mineralization hosted by altered felsic to intermediate volcanics intersected in Inco drill holes 77524, 77522 and 77521 respectively. The best assays returned from these holes are 0.15% Zn/1.41 m (77524), 1.38% Zn/1.5 m (77522) and 0.06% Zn/0.73 m (77521). PREVIOUS WORK (modified in part from Phipps, 1987 and Bell, 1996) 1967: A combined helicopter borne electromagnetic and magnetometer geophysical survey was flown by Sander Geophysics Ltd. over the Buchans and South concession areas of the Hansa Syndicate (Sander and Owen, 1968). This covered all of the current Bobby’s Pond property area and provided EM targets for future follow up by various exploration companies. 1973: During the fall of 1973 Cominco drilled holes BP-1, 1A, 2 and 3 in the Bobby’s Pond area. Holes BP-2 and 3 are on the current property and were drilled to test EM conductors with gravity correlations. In both cases the conductors were explained by graphitic/pyritic sediments. No record of assessment reports covering this work, except for the drill logs, was located at the Newfoundland Department of Natural Resources. As such the drill hole locations are based on locations plotted by Inco in Bell (1989) who may have had access to Cominco’s original files. There are no assays noted in the logs however Inco re-assayed cores from these holes in 1988. The assay results are retained on file with the drill logs at the Newfoundland and Labrador government’s core library in Pasadena, NL. Eleven samples collected from various intervals in hole BP-2 were analyzed for Au, Cu and Zn. The highest individual values were 28 ppb Au, 200 ppm Cu and 680 ppm Zn. 1974-77: Kerr-Addison, Noranda and Cominco carried out geophysics, geological mapping, and drilling on various claim blocks around the Victoria Mine prospect. Kerr-Addison and Noranda worked together in the area and drilled boreholes KNM 74-1 to 4 and KNM 75-1 to 11. Noranda also carried out additional work on several small cut grids to the southwest towards Bobby's Pond and drilled five holes numbered 361-1 to 5 (Dimmell and Reid, 1977) to test CEM horizontal shootback geophysical anomalies. All conductors drilled were explained by the presence of graphitic metasediments. 1977-78: Amoco Canada Petroleum Company Ltd. carried out a regional stream sediment geochemical survey over an area of approximately 1,700 square miles (Donovan et al., 1977). This survey outlined several anomalous areas that required follow-up work. The only follow-up work conducted in the Bobby’s Pond area was on Grid 18 and included reconnaissance soil sampling, geological mapping and several geophysical surveys including magnetometer, Crone CEM (using the horizontal shootback EM method), Crone VLF-EM and vertical loop EM surveys (Donovan, 1978). Soil sampling results were not seen in the report but are discussed in the text as outlining a small Zn anomaly near Bobby’s Pond which is open towards the lake. EM conductors are described as being scattered, weak and near surface and not considered to be drill targets. Geological mapping indicates several old picket lines, drill roads and a drill collar which likely represents BP-2. The report concluded that there were no further targets to be followed up, all claims be allowed to lapse and the project be terminated (Donovan, 1978).

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1980-81: Gulf Minerals Canada Ltd. conducted reconnaissance 1:50,000 scale geological mapping and rock sampling during 1980. The ground was subsequently staked in 1981 whereby additional rock sampling and 1:20,000 scale geological mapping was carried out (Pickett, 1982). The 1981 exploration program also included an airborne EM and magnetometer survey contracted to Aerodat Ltd. 1982-83: Granges Exploration AB bought the property from Gulf Minerals, conducted a data review and outlined several areas for further investigation. Initial follow-up work consisted of establishment of four grids (VIC-1 to 4) for a total of 155.85 line km with subsequent coverage by 128.95 line km of HLEM geophysical surveys (Zbitnoff, 1983). A total of 16 drill holes are reported to have been drilled to test conductive zones. The conductors were found to be due to graphitic sediments with varying amounts of pyrite. Core samples, assayed for Au and Ag with select samples also assayed for Cu and Zn, returned insignificant base and precious metal contents. 1984: Granges Exploration continued exploration in the Bobby’s Pond area with the drilling of four holes numbered VR-17 to 20 for a total of 275.83 m (Williams, 1985). All conductors tested were found to be caused by graphitic sediments with various amounts of pyrite. Select sampling of the core failed to return any significant base or precious metal values. 1985-86: Ground was staked by Canadian Nickel Company Ltd. (Canico), an exploration subsidiary of Inco Limited, and the Pickett-Lundrigan ground was optioned. The initial focus of their exploration programs was on the gold potential of the area. 1986: A reconnaissance geochemical survey was carried out with soil samples collected at 25 m stations along traverses spaced 500 m apart. For the most part, only every second soil sample was assayed. Minor gold anomalies were recorded and numerous base metal anomalies were detected, including 1,372 ppm Zn in the vicinity of the Bobby's Pond deposit. Areas with anomalous Au-in-soil values from the initial survey were covered with follow-up soil surveys on lines spaced 100 m apart on either side of the anomaly. Reconnaissance geological mapping and prospecting outlined several sericite-silica-pyrite alteration zones with up to 0.77 g/t Au and anomalous base metal values. Silicified rhyolites with up to 10% arsenopyrite in the northeastern portion of the property yielded gold values of up to 2.2 g/t (Phipps, 1987). 1987: Five grids, referred to as Grids 1-5 were cut in areas of coincidental geochemical anomalies, altered bedrock, and airborne EM anomalies. The grids were mapped and selected portions were covered with magnetometer, HLEM and IP geophysical surveys as well as geochemical surveys. Drill targets were subsequently selected on the basis of bedrock alteration with anomalous gold values and coincidental IP and/or HLEM anomalies (Phipps, 1988). Note: Only Grid 4 and most of Grid 5 are located on the current Cornerstone Resources Inc. Bobby’s Pond property. 1988: Twelve boreholes totaling 1,751.35 m were drilled on Grids 1, 4 and 5 between January 26 and March 19 (Bell, 1988). Borehole 77528 intersected a zone of massive sulphide mineralization on Grid 5 and is the “discovery” drill hole on the Bobby’s Pond massive sulphide deposit. Grid 5 was then extended to the northeast, mapped and covered with magnetometer, HLEM and geochemical surveys (Bell, 1989). HLEM and geochemical coverage was also completed over the

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original Grid 5 and an orientation gravity survey was carried out on selected lines. On Grid 1, fill in HLEM, magnetometer and geochemical surveys were carried out. Thirty boreholes totaling 6,385 m were drilled on Grids 1 and 5 between July and December (Bell, 1989) with a focus on delineation of the Bobby’s Pond deposit. Borehole IP and Pulse-EM surveys were also carried out as an orientation on the Bobby’s Pond deposit. 1989: Ten boreholes totaling 3,304 m were drilled on the Bobby's Pond deposit between January and April (Bell, 1989). Borehole collars of all holes drilled to test the Bobby's Pond deposit were surveyed. Grid 5 was extended to the west and Grid 6 was cut. The grids were covered with geological, geochemical and geophysical (magnetics and HLEM) surveys. Minor trenching was carried out on Grid 1 (Bell, 1990). Most of the property area was also covered by an airborne magnetics and EM geophysical survey conducted by Aerodat Ltd. during a joint venture between Noranda and BP Resources (Barbour et al., 1991). 1990-91: Six boreholes totaling 935.59 m were drilled on Grids 1 and 6 (Bell, 1990). Selected AEM conductors throughout the property were covered with reconnaissance geophysical, geological and geochemical surveys (Stewart, 1991). Grid 2 was extended to the west and geological, geophysical and geochemical surveys were carried out over the entire grid. The gap between Grids 4 and 5 was gridded and Grid 4 was also extended to the southwest by 1 km. The new grid was covered with a geological survey and the original Grid 4, plus selected lines on the new grid, were covered with a soil geochemical survey for a total of 279 soil samples. Notably, a float sample (Rx147580) of a light grey, altered, intermediate volcanic with ~20-25% chalcopyrite + pyrite was collected to the southwest of Grid 4 and returned assays of 8.5% Cu and 0.33 opt Ag. Two short Winkie drill holes were drilled, one on Grid 1 and one on Grid 2, for a total of 57.32 m and two boreholes totaling 1,237.47 m were drilled on Grid 2 (Stewart, 1991). All holes intersected graphitic metasediments. Selected areas of Grids 1, 2, 4, 5 and 6 were covered with TDEM geophysical surveys. A study of the surficial geology and ice flow history for the property area was contracted to Overburden Drilling Management Limited. Several areas warranting further work were outlined by the surveys over the AEM anomalies and by the TDEM geophysical surveys on the grids (Stewart, 1991). During this time the Geological Survey of Canada conducted an airborne geophysical survey over the Tulks Volcanic belt (Ford and Holman, 1991). The survey was flown along 500 m spaced lines at 135° and measured VLF-EM, total field and vertical gradient magnetics as well as radiometrics. According to Stewart (1993) several known alteration zones on Grids 1, 2, 4 and 5 were detected by this survey as areas of potassium enrichment. 1992: TDEM anomalies 1 to 5 detected in the Grid 5 area during 1991 were surveyed with IP (Stewart, 1992). Results did not indicate any significant sulphide mineralization and it was recommended that no further work be conducted on the TDEM anomalies. In the area of the Bobby’s Pond deposit nine holes were sampled for lithogeochemistry and three holes were re-logged. Results indicate there are no distinct chemo-stratigraphic contacts within the hosting felsic rocks and the alteration halo around the deposit is very limited (Stewart, 1992). Borehole EM surveys were recommended for holes 77565 and 77566, in the Bobby’s Pond deposit area, to test for possible down dip extensions of the deposit.

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1992-93: Boreholes 77565 and 77566, the deepest cuts into the Bobby’s Pond deposit, were surveyed with borehole EM. Both holes were blocked just above the sulphides and anomalies, apparently caused by the deposit, occur at the blockages. From this data it could not be determined if there are any potential conductive bodies down dip of the deposit (Stewart, 1993). Several historical AEM anomalies were ground located with VLF and evaluated with geological and geochemical surveys. Results were generally discouraging and, at the time, no further work was planned for the property. 1994: The property, after being left dormant for a year, was reduced from 582 to 120 claims covering Grids 4 and 5 which includes the Bobby’s Pond deposit. 1995: Selected boreholes were re-logged at the Pasadena core library with a total of 120 samples collected for analysis including some from Cominco-Hansa holes drilled in the Grid 5 area. A detailed review of lithogeochemical samples from drill core and outcrop was carried out. Prospecting and sampling, aided by the construction of new logging roads, was carried out on the property whereby a total of 65 rock samples were collected. The prospecting resulted in the discovery of the strike extension of the Bobby’s Pond stratigraphy ~1.8 km east of the deposit and an intensely sericitized felsic agglomerate ~4.4 km northeast of the deposit. A diamond drill program was carried out, totaling 1,343.0 m, with two holes drilled on Grid 5, and two on Grid 4 (Bell, 1996). Borehole 80436, which is on the current Bobby’s Pond property, intersected several zones of base metal sulphide mineralization. Selected intersections include 0.14% Cu, 0.24% Pb, 0.62% Zn over 0.49 m from 269.37 - 269.86 m and 0.58% Zn over 2.65 m from 344.40 - 347.05 m. 1996: Grid 5 was extended to the northeast and southwest for a total of 31.25 line km in order to evaluate the Bobby’s Pond horizon (Bell, 1996). Portions of the grid were then covered with Pulse-EM and Max-Min horizontal loop EM geophysical surveys. A semi-continuous conductive horizon, with several minor offsets, was traced along both grid extensions. This horizon correlates well with graphitic horizons trending across Grid 5 and along strike from the Bobby’s Pond deposit (Bell, 1996). Suggested follow-up work included detailed mapping of the grids to relate alteration zones to the new Pulse-EM and Max-Min conductors with drilling contingent on the results. To the author’s knowledge, the follow-up work was not carried out. 1998: Several airborne magnetics and GEOTEM geophysical surveys were conducted over various areas around Red Indian Lake by Billiton Exploration Canada Ltd. in partnership with numerous property holders (Geoterrex-Dighem, 1999). One such survey covered nearly all of the current Bobby’s Pond property area. 2004: The Inco property was again left dormant after 1996. An application to convert a portion of the Victoria property, covered by ground staked mineral licence 4881, was made to the government of Newfoundland and Labrador in April of 2004. In June of 2004 licence 4881 was converted to map staked mineral licence 10232M. In July of 2004, upon issuance of mining lease 187 (4881) covering the Bobby’s Pond deposit, the remainder of the ground was dropped. The ground became available for staking in the October 10, 2004 draw. Original licence 10374M was successfully map staked by Cornerstone Resources Inc. with the licence issued on November 22, 2004 2005/06: Cornerstone undertook a program of digital compilation and produced a comprehensive digital GIS database of the historical work conducted on and around the Bobby’s Pond deposit area

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(Hussey and Winter, 2006). Cornerstone also conducted a brief field visit during 2006. This work highlighted several prospective areas which were recommended for future evaluation. 2007: The 2007 program consisted of drilling three holes roughly 2 km to the south southwest of the Bobby’s Pond Deposit in an area where previous INCO drilling had indicated extensive alteration and weak base metals. A downhole Pulse EM survey was completed in November but no conductors were indicated in the vicinity of the drill holes. Minor soil geochemistry over an area of visual alteration was also completed northeast of the Mining Lease. 2008: The 2008 exploration program comprised establishing 45.6 km of cut line in the northeastern section of the claim group followed by collection of 619 soil samples over the grid area. A property wide geology survey was undertaken in conjunction with prospecting. Trenching was undertaken in the vicinity of a strong discrete soil anomaly on the newly established grid as well as in the vicinity of the mineralized alteration zone southwest of the Bobby’s Pond Mining lease. 5 drill holes comprising 559.3 metres were completed in 2008, two short holes were drilled beneath the narrow massive sulphide bearing alteration zone southwest of the mining lease as well as three holes in the vicinity of the trenching on the grid established in 2008. 2009 PROGRAM The 2009 program consisted of a gravity survey in the vicinity of the base metal intercept from the 2008 drill program and follow up diamond drilling. GRAVITY SURVEY The gravity survey was conducted from May 25th to May 31st with an additional day on June 26th to repeat a section of one line where the data looked suspect. The survey was carried out by Eastern Geophysics Ltd. of West Pubnico, NS, and the interpretation was done by Steve King of Ottawa. A total of 8.9 km of readings were taken at 25 metre spacing, with 12.5 metre spacing over the areas of known or anticipated mineralization (390 gravity points). The logistics report is included in Appendix IV as are the data readings and a short interpretation report.

15

FIGURE 6

16

FIGURE 7 – FIRST DERIVATIVE GRAVITY A gravity survey was done to locate any anomalous trends in the vicinity of the known mineralized zone. EM surveys or IP surveys would be of no use since the mineralized zone occurred within a few metres of a graphitic argillite unit. Total field gravity showed no significant anomalies in the immediate area of the known mineralization but subtle trends emerged in the first derivative. These gravity highs were tested by drill holes CS 09 01 and CS 09 02 but no explanation for the gravity highs was found. DIAMOND DRILLING Three drill holes were completed by Springdale Forest Resources Inc. of Springdale, NL between July 22nd and August 3rd. A total of 647 metres were drilled in the 3 holes. Drill hole CS 09 01 was located 200 metres grid east of drill hole CS 08 03 with the narrow massive sulphide zone and targeted to test two gravity features in the first derivative processing. Felsic and intermediate volcanic were encountered and sections of sericitic rhyolite and felsic tuffs contained stringers and disseminations of pyrite, sphalerite, galena and minor chalcopyrite. Silicified zones were intersected near the main contact with a sequence of fine to medium grained metasediments. No base metal intercepts were

17

encountered in the metasediments but several pyrite +/- graphitic zones contained up to 5 – 10% pyrite locally although these intervals aren’t considered to be the cause of the gravity anomalies.

2009 DRILL HOLE COLLAR SUMMARY DRILL HOLE

GRID N GRID E UTM N NAD 27

UTM E NAD 27

AZIMUTH DIP FINAL DEPTH

CS 09 01 13750 16700 5392522 516819 137 -45 305m CS 09 02 13775N 16500E 5392405N 516666E 137 -55 230m CS 0903 13635N 16200E 5392085N 516565E 137 -45 112m TABLE 4

FIGURE 8

18

FIGURE 9 CS 09 02 was drilled to undercut CS 08 03 but was drilled from the other direction since bedding was thought to dip slightly to the north. A sequence of felsic to mafic volcanics was intersected in the top 189.85 metres of the hole. The felsic volcanic comprised variably sericitic felsic tuffs, rhyolite and rhyolite breccias with increasing silicification towards the lower contact. Only minor sulphides occurred in the volcanic sequence. Metasediments ranging from argillite (+/- graphite) to greywacke were encountered in the bottom portion of the drill hole. Several pyritic and sericitic felsic tuff to cherty tuff band (+/- sphalerite were encountered within 12 metres of the main volcanic sediment contact. The highest Zn value was 2017 ppm over a 0.65m length.

19

FIGURE 10 Drill hole CS 09 03 was collared 300 metres southwest of CS 09 02 and was targeted at a soil geochemical anomaly. A sequence of predominantly felsic volcanic comprising flows and fine to lapilli tuffs was encountered to the metasediment contact at 102.88 metres. Some strongly sericitized segments were present in the felsic volcanics but this was accompanied by only minor sulphides. Trace to minor sphalerite was noted near the bottom of the volcanic sequence. The drill hole ended in a short interval of fine to medium grained metasediments with possible thin beds of tuff. A weakly mineralized 1.5 metre interval taken near the end of the hole contained 0.73% Zn, 0.49% Pb, 0.18% Cu, 19.2 gpt Ag, and .115 gpt Au.

20

FIGURE 11

21

FIGURE 12 CONCLUSIONS & RECOMMENDATIONS The 2009 exploration program focused on evaluating the area in the immediate vicinity of a hole drilled in 2008 which intersected a massive sulphide interval containing 7.0% Zn, 4.9% Pb, 0.15% Cu, 80.6 gpt Ag and 1.05 gpt Au. Minor base metals were encountered in all three 2009 drill holes and alteration in the felsics consisted of sericitization and silicification. Silicification was prominent in the two holes to the northeast and strong sericite alteration and only weak silicification characterized the hole to the southwest. The mineralization is best developed in the area in a mixed sequence of sediments and felsic / cherty tuffs located at the main volcanic – sediment contact. No massive sulphide was encountered in the 2009 drilling but the mineralization and alteration have been identified in drill holes over a 500 metre strike length. The gravity survey did not show any significant anomalies in the total field and the anomalies that showed up in the first derivative treatment of the data did not correspond to any higher density features in the drill core. With EM methods of doubtful value due to the presence of strongly graphitic sediments in close proximity to the sulphide zones, the best way to test for a significant base metal deposit is by pattern drilling at a spacing that would detect a sizeable body of mineralization.

23

REFERENCES

1991: Barbour, D.M. Desnoyers, D.W., Dunphy, B.A., Graves, R.M., Kieley, J.W., King, B.M., McKenzie, C.B. Poole, J.C. and Thurlow, J.G. Assessment report on geological, geochemical, geophysical, trenching and diamond drilling exploration for 1990 submission for the Anglo Newfoundland Development Company Limited Charter, crown lease lots A-B, E-F and P-R, fee simple grants volume 1 folios 43, 61-62 and 110, volume 2 folios 23 and 25, special volume 2 folio 307 and Reid Lots 227-228, 231-233 and 247 in the Buchans, Great Burnt Lake, Valentine Lake, Victoria Lake, Tulks River and Lloyds River areas, central Newfoundland, 6 reports, NTS 12A/05, 12A/06, 12A/07, 12A/08, 12A/11, 12A/NE, for Noranda Exploration Company Limited and BP Resources Canada Limited. Newfoundland and Labrador Geological Survey, Assessment File 12A/0609, 2134 pages.

1988: Bell, R.

Third year assessment report on diamond drilling exploration for the Victoria project for licence 3351 on claims 14609-14616, 15534-15542 and 15264-15268 and claim blocks 1212, 1601, 4107-4111, 4382-4386 and 4028-4031 in the Red Indian Lake, Victoria River and Bobbys Pond areas, Newfoundland, NTS 12A/10, for Inco Gold Company. Newfoundland and Labrador Geological Survey, Assessment File 12A/10/0499, 78 pages.

1989: Bell, R.

Fourth year assessment report on geological, geochemical, geophysical and diamond drilling exploration for the Victoria project for licence 3351 on claims 14609-14616, 15264-15268 and 15534-15542 and on claim blocks 1212, 1601, 4028-4031, 4107-4111 and 4382-4386 in the Bobbys Pond and Victoria River areas, central Newfoundland, 4 reports, NTS 12A/10, for Canadian Nickel Company Limited. Newfoundland and Labrador Geological Survey, Assessment File 12A/10/0526, 954 pages.

1996: Bell, R.C.

Eleventh year assessment report on geological, geochemical, geophysical and diamond drilling exploration for licence 3351e on claims in the Bobbys Pond area, central Newfoundland, NTS 12A/10, for Canadian Nickel Company Limited. Newfoundland and Labrador Geological Survey, Assessment File 12A/10/0755, 264 pages.

2004: Colman-Sadd, S. P. and Crisby-Whittle, L. V. J.

Partial bedrock geology dataset for the Island of Newfoundland (NTS 2E, 2F, 11P, 11O, 12A, 12B, 12G, 12H, and parts of 1M, 2D, 2L, 12I). Government of Newfoundland and Labrador, Department of Natural Resources, Geological Survey, Open File NFLD/2616 Version 5.0.

1977: Dimmell, P.M. and Reid, W.

Report on diamond drilling in the Bobbys Pond area of the Red Indian Lake area, Newfoundland, NTS 12A/10, for Noranda Exploration Company Limited. Newfoundland and Labrador Geological Survey, Assessment File 12A/10/0231, 24 pages.

1977: Donovan, P., Hartley, C. and Kacira, N. Geochemical and geological report for the Exploits project in central and northeastern Newfoundland, NTS 2D/12, 2D/13, 2E/13, 12A/NE, 12H/16, for Amoco Canada Petroleum

24

Company Limited. Newfoundland and Labrador Geological Survey, Assessment File NFLD/1030, 98 pages.

1978: Donovan, P. Report on follow-up programme for the Exploits project including geochemical and geological work for Exploits area in central and northeastern Newfoundland, NTS 2D/12, 2D/13, 2E/12, 12A/NE, 12H/16, for Amoco Canada Petroleum Company Limited. Newfoundland and Labrador Geological Survey, Assessment File NFLD/1029, 92 pages.

2002: Evans, D.T.W and Kean, B.F.

The Victoria Lake Supergroup, central Newfoundland – its definition, setting and volcanogenic massive sulphide mineralization. Newfoundland Department of Mines and Energy, Geological Survey, Open File NFLD/2790, 80 p.

1991: Ford, K. L. and Holman, P. B.

Airborne geophysical survey of the Tulks Volcanic Belt, Red Indian Lake area, Newfoundland, NTS 12A/06NE, 12A/06NW, 12A/07NW, 12A/10NE, 12A/10NW, 12A/10SW, 12A/11SE, Geological Survey of Canada, Open File 2481, 68 pages, Newfoundland and Labrador Geological Survey Open File 12A/0623

1999: Geoterrex-Dighem (Contractor Report)

Assessment report on geophysical exploration for 1998 submission for fee simple grants volume 1 folios 61-62 and the Anglo-Newfoundland Development Company Limited Charter and for first year, first year supplementary, second year, third year, fourth year, fifth year, fifth year supplementary, sixth year, and sixth year supplementary assessment for licence 4272 on claim blocks 7916-7917 and 7919-7921 and claims 16512-16514, licence 4273 on claim block 7915, licence 4293 on claim block 7898, licence 4294 on claim block 7896, licence 4295 on claim block 7855, licence 4296 on claim block 7854, licence 4317 on claim block 7984, licence 4319 on claim blocks 6663-6664 and 7793-7794, licence 4470 on claim block 4919, licence 4483 on claim blocks 8439-8440, licence 4497 on claim 16090, licence 4547 on claim 16171, licence 4548 on claim 16507, licence 4603 on claim 16946, licence 4744 on claims 16406-16407, licence 4745 on claim 16504, licence 4746 on claims 16410, 16413 and 16501-16503, licence 4793 on claims 16420-16421, licence 4805 on claim 16398, licence 4806 on claims 16397, 16399-16401, 16424-16426 and 17686-17688, licence 4823 on claims 16431-16432, and licences 4609M, 4724M, 4787M-4788M, 4973M-4974M, 5226M-5227M, 5274M, 5574M, 5576M, 5649M-5652M, 5668M, 5769M, 5907M, 6003M, 6044M-6045M, 6066M, 6133M, 6146M-6147M, 6167M, 6192M, 6245M-6248M, 6271M-6272M, 6275M-6285M, 6297M-6300M, 6303M-6307M, 6368M, 6375M-6376M, 6429M-6430M, 6472M-6474M, 6712M and 6715M-6716M on claims in the Red Indian Lake area, central Newfoundland, NTS 12A/09, 12A/10, 12A/11, 12A/14, 12A/15, 12A/16, 12H/01, for Billiton Exploration Canada Limited, Altius Resources Incorporated, Buchans River Limited, Celtic Minerals Limited, GT Exploration Limited and Newfoundland Mining and Exploration Limited. Newfoundland and Labrador Geological Survey, Assessment File NFLD/2764, 351 pages.

1977: Kean, B.F.

Geological compilation of the Newfoundland Central Volcanic Belt, Map 77-030, NTS 2D/NW, 2E, 12A/06, 12A/11, 12A/14, 12A/NE, 12H/NE, 12H/SE, Mineral Development Division,

25

Department of Mines and Energy, Government of Newfoundland and Labrador, Open File NFLD/0985.

1980: Kean, B. F. and Jayasinghe, N.R.

Geology of the Lake Ambrose (12A/10) and Noel Paul’s Brook (12A/9) map areas, central Newfoundland; Newfoundland Department of Mines and Energy, Mineral Development Division, Report 80-2. NFLD, MDD File 12A/263.

2002: Oneschuk, D., Tod, J. and Kilfoil, G.

Red Indian Line, airborne geophysics compilation (part II, Vol 1-3), central Newfoundland, NTS 12A, Geological Survey of Canada, Open File NFLD/2773, 2002.

1987: Phipps, D.

First and second year assessment report on geological and geochemical exploration for the Victoria project for licence 2855 on claim blocks 14609-14616, licence 2749 on claims 15534-15542 and claim blocks 4382-4386, licence 2739 on claim blocks 4107, licence 2740 on claim block 4108, licence 2741 on claim blocks 4109-4111, licence 2736 on claim block 4028, licence 2737 on claim block 4029, licence 2607 on claim block 4030, licence 2606 on claim block 4031, licence 2734 on claim blocks 15264-15267 and licence 2735 on claim block 15268 in the Victoria River area, Newfoundland, NTS 12A/10, for Canadian Nickel Company Limited. Newfoundland and Labrador Geological Survey, Assessment File 12A/10/0433, 129 pages.

1988: Phipps, D.

First year assessment report on geological, geochemical and geophysical exploration for the Victoria project for licence 3351 on claims in the Victoria River, Red Indian Lake and Bobbys Pond areas, Newfoundland, NTS 12A/10, for Canadian Nickel Company Limited. Newfoundland and Labrador Geological Survey, Assessment File 12A/10/0482, 157 pages.

1982: Pickett, J.W.

Report of assessment work during 1981 with geological and lithogeochemical report for the Victoria River project area, Newfoundland, 3 parts 2 volumes, NTS 12A/10, for Gulf Minerals Canada Limited. Newfoundland and Labrador Geological Survey, Assessment File 12A/10/0317, 135 pages.

2002: Rogers, N. and van Staal, C.

Toward a Victoria Lake Supergroup: A provisional stratigraphic revision of the Red Indian to Victoria Lakes area, central Newfoundland. In Current Research, Edited by C. P. G. Pereira, D. G. Walsh and B. F. Kean, Newfoundland and Labrador Geological Survey, Report 2-01, pages 185-195, Geofile Number NFLD/2774.

1968: Sander, G. W. and Owen, D. L.

Report on the combined helicopter borne electromagnetic and magnetometer survey in the Buchans area, Newfoundland, NTS 12A/01, 12A/07, 12A/08, 12A/09, 12A/10, for Hansa Syndicate, Hansa Explorations Limited, Leitch Gold Mines Limited, Dome Explorations Limited and Pacific Petroleum Limited. Newfoundland and Labrador Geological Survey, Assessment File 12A/0059, 1968, 17 pages.

26

1990: Stewart, R. Fifth year assessment report on geological, geochemical, geophysical, trenching and diamond drilling exploration for the Victoria project for licence 3351 on claim blocks 1212, 1601, 4028-4031, 4107-4111, 4382-4386, 14609-14616, 15264-15268 and 15534-15542 in the Victoria River, Red Indian Lake and Bobbys Pond areas, central Newfoundland, 3 reports, NTS 12A/10, for Inco Exploration and Technical Services Incorporated. Newfoundland and Labrador Geological Survey, Assessment File 12A/10/0571, 456 pages.

1991: Stewart, R.

Sixth year assessment report on geological, geochemical, geophysical and diamond drilling exploration for the Victoria Project for licence 3351e on claim blocks 1212, 1601, 4028-4031, 4107-4111 and 4382- 4386 and claims 14609-14616, 15264-15268 and 15534-15542 in the Victoria River and Bobbys Pond areas, central Newfoundland, 3 reports, NTS 12A/10, for Inco Exploration and Technical Services Incorporated. Newfoundland and Labrador Geological Survey, Assessment File 12A/10/0615, 436 pages.

1992: Stewart, R.

First, second and seventh year assessment report on geological, geochemical and geophysical exploration and re-logging of drill core for the Victoria Project for licence 4064 on claim blocks 7389-7390, licence 4152 on claim blocks 16968-16970 and licence 3351e on claim blocks 1212, 1601, 4028- 4031, 4107-4111, 4382-4386, 14609-14616, 15264-15268 and 15534-15542 in the Victoria River, Red Indian Lake and Bobbys Pond areas, central Newfoundland, NTS 12A/10, for Inco Exploration and Technical Services Incorporated. Newfoundland and Labrador Geological Survey, Assessment File 12A/10/0621, 130 pages.

1992: Stewart, R.

Seventh year supplementary assessment report on geophysical and diamond drilling exploration for the Victoria Project for licence 3351e on claim blocks 1601, 1212, 4107-4111, 4028-4029, 4031, 4382-4385, 14609-14616, 14386, 15534-15542 and 15264-15268 in the Victoria River and Red Indian Lake areas, central Newfoundland, NTS 12A/10, for Inco Exploration and Technical Services Incorporated. Newfoundland and Labrador Geological Survey, Assessment File 12A/10/0625, 130 pages.

1993: Stewart, R.

Eighth year assessment report on geological, geochemical, geophysical and diamond drilling exploration for the Victoria Project for licence 3351e on claim blocks 1212, 1601, 4028-4029, 4107-4111, 4382-4385, 14386, 14609-14616, 15264-15268 and 15534-15542 in the Bobbys Pond area, central Newfoundland, NTS 12A/10, for Inco Exploration and Technical Services Incorporated. Newfoundland and Labrador Geological Survey, Assessment File 12A/10/0639, 170 pages.

1993: Stewart, R. and Beischer, G.

The Bobby's Pond base metal massive sulphide deposit, Victoria property, central Newfoundland. In Ore Horizons Volume Two. Edited by A. Hogan and H.S. Swinden. Newfoundland Department of Mines and Energy, Geological Survey Branch, pages 89 - 99, (GSNL Ore Horizons Reports - NFLD/2500).

27

1989: Swinden, H. S., Jenner, G. A., Kean, B. F. and Evans, D. T. W. Volcanic rock geochemistry as a guide for massive sulphide exploration in central Newfoundland. In Current Research, Edited by C. P. G. Pereira, D. G. Walsh and R. F. Blackwood, Geological Survey of Newfoundland, Department of Mines, Government of Newfoundland and Labrador, Report 89-01, pages 201-219, Geofile Number NFLD/1778.

1979: Williams, H.

Appalachian Orogen in Canada. Canadian Journal of Earth Sciences, Volume 16, p. 792-807. 1988: Williams, H., Colman-Sadd, S.P. and Swinden, H.S.

Tectonic-Stratigraphic subdivisions of central Newfoundland; In Current Research, Part B, Geological Survey of Canada, Paper 88-1B, p. 91-98.

1985: Williams, J. J.

Assessment report on drilling on claim blocks 2709, 2717 and 2719 in the Victoria River area, Newfoundland, NTS 12A/10, for Granges Exploration Limited. Newfoundland and Labrador Geological Survey, Assessment File 12A/10/0400, 6 pages.

1983: Zbitnoff, G.W.

Report of assessment work including 1982 geophysical and diamond drilling surveys for licence 2344 in the Victoria River area, Newfoundland, 4 parts, NTS 12A/10, for Granges Exploration AB. Newfoundland and Labrador Geological Survey, Assessment File 12A/10/0354, 87 pages.

2006: Hussey, A.M. and Winter, L. First year assessment report on geological, geophysical and geochemical compilation on the Bobby’s Pond property, mineral licences 10374M, 11720M, 11721M, 10545M, 10784M and 10785M, central Newfoundland, NTS 12A/10, for Cornerstone Resources Inc. Unpublished confidential assessment report.

2007: Hussey, A.M. Second year assessment report on geochemical and geophysical compilation on the Bobby’s Pond Property, mineral licence 11918M, central Newfoundland, NTS 12A/10 for Cornerstone Resources Inc.

2007: Woods, G.W. Third year assessment report on diamond drilling, downhole Pulse EM, and gechemistry on the Bobby’s Pond Property, mineral licence 11918M, central Newfoundland, NTS 12A/10 for Cornerstone Resources Inc.

2007: Agerian, H. Technical Report on the Bobby’s Pond Cu-Zn Deposit, Newfoundland and Labrador, Canada NI 43-101 Report Update, Scott Wilson RPA, Filed on SEDAR - February 23, 2007 2007: De Mark, P., Dearin, C.

Messina Minerals Inc., Tulks South Property, Central Newfoundland, Canada, Technical Report – Messina Minerals Inc. Website

28

2007: Hinchey, J.G.

Base-Metal Metallogeny of the Northern Tulks Hill Volcanics, Central Newfoundland, Newfoundland and Labrador Geological Survey, Report of Activities, 2007

2008: Woods, G.W. Fourth year assessment report on soil geochemistry, geology, prospecting trenching, & diamond drilling on the Bobby’s Pond Property, mineral licence 11918M, central Newfoundland, NTS 12A/10 for Cornerstone Resources Inc.

MODS File 12A/10/Zn 001 – Bobby’s Pond Deposit

29

APPENDIX I

STATEMENTS OF EXPENDITURES

30

STATEMENT OF EXPENDITURES       

DESCRIPTION  ASSESSMENT DETAILS  EXPENDITURE 

DRILLING  SPRINGDALE FOREST RESOURCES  $58,135.12 

CORE BOXES  OSMOND’S SAW MILL  $700.92 

GRAVITY SURVEY  EASTERN GEOPHYSICS  $16052 

GRAVITY INTERPRETATION  S. KING  $300 

GEOCHEMICAL ANALYSES  EASTERN ANALYTICAL  $379.35 

LABOUR  D. RANKIN  17 MANDAYS 

   G.ROWSELL  I MANDAY 

   R. HOLLOWAY  1 MANDAY 

   TOTAL LABOUR  $7740 

  

GAS  COLEMANS  361.05 

ACCOM & CORE SHACK RENTAL  GARY ROWSELL – 6  MONTHS  $7000 

VEHICLE RENTAL & REPAIRS  RIVERVIEW MOTORS – GRAND FALLS  $2136.85 

SUB TOTAL  92805.29 

  

ADMINISTRATION  (15%)  13920.79 

 TOTAL  106726.08 

  

5TH YEAR REQUIRED EXPENDITURES  62 CLAIMS x $400  $24800 

5TH YEAR EXCESS EXPENDITURES  81926.08 

PREVIOUS EXCESS EXPENDITURES  291823.37 

EXCESS EXPENDITURES FOR YR 6  $373749.45 

31

APPENDIX ll

DIAMOND DRILL LOGS

CS-09-01.xls

Mountain Lake Res Geological Log Down Hole Survey Depth Dip Azimuth

Page : Of 299 -36.1 148.1

Project: Cornerstone Option Azimuth: 137Drill Hole CS-09-01 Grid N: 13750 Inclination: -45 Casing pulledLogged By : D. Rankin Grid E: 16700 Final Depth: 305mStart Date : July 22,2009 UTM E: 0516819 Station No : CasingFinish Date : J July 28,2009 UTM N: 5392522 Plan No : Size Fm TO

Scale : Casing NWRod NQ

Depth & Recovery Rock Type Description Alteration % Mineralization % Structure

From

To Inte

rval

Box

Roc

k ty

pe

Mod

ifier

Silic

ifica

tion

Seric

ite

Chl

orite

Car

bona

te

Alb

ite

Oth

er

Pyrit

e

Pyrr

hotit

e

Spha

lerit

e

Cha

lcop

yrite

Gal

ena

Oth

er

Inte

nsity

Mod

ifier

AC

A

0.00 11.60 Overburden

11.60 16.15 Altered Intermediate Flowmedium grey-green to light purplish grey; massive, fine-grained, moderatelywell fractured with limonite common on most fractures; some dark green chlorite alteration associated with fractures and flow-type breccias near the base of the unit; some fine vesicles locally present; lower contact sharp at 40-45 dca.

16.15 42.27 Quartz Crystal Tuffgenerally a medium grey-green but altered locally and near the top of the unit to alight reddish-grey colour; massive to weakly schistose; 3-10% fine quartz eyes orphenocrysts in a finer weak to moderately sericitized groundmass; foliation at 19.0mis 55 dca., at 27.0m is 60 dca., at 35m is 50-60 dca.; locally appear to be some llapilli sized clasts; minor quartz veinlets and veins; from 40.30m to 42.27m the unit isin part silicified with dark green chlorite on fractures; streaks and blebs of green epidotered hematite also characterize this interval (probably related to the underlying flow?)

42.27 44.00 Intermediate Flow dark grey-green , massive to faintly schistose(60 dca.), fine grained with local patchesor crude bands of white quartz filled amygdules; lime green epidote promin-ent near upper contact

44.00 47.30 Rhyolitelight grey to light grey-green, massive, fine-grained, commonly contains 3-5% quartzphenocrysts in the 1-3mm diameter range, locally some anhedral to subhedral cream

CS-09-01.xls

colored feldspar phenocrysts (same size range as quartz); minor quartz veinlets and stringers

47.30 52.00 Intermediate Flow (Tuff?)medium green to light grey-green; texture varies from flow-like breccia to altered finepoorly sorted tuff; white or cream colored vesicular-like structures are present in the upper part of the interval with fine chloritic structures (vesicles?) present in the lower part of the section; at the lower contact is a 10mm vein of fine and nodularpyrite at 40-50 dca.

52.00 62.20 Rhyolitelight blue-grey, fine-grained, massive to faintly schistose (at 54m 40-50 dca.); locallyflow-like brecciation; 1-2% transposed and contorted quartz -carbonate veins and stringers; lower contact appears gradational

62.20 78.00 Rhyolite Lapilli Tuff (Agglomerate)generally light to medium grey-green, massive, locally contains distinct clasts or bombsbut elsewhere appears fine-grained and fairly non descript; weak sericiticalteration at the top of the section overprinted by hematite staining in the central part;locally blebs and fine stringers of pyrite (<1%) with traces of honey coloured sphaleriteand galena; lower contact is sharp but irregular

78.00 80.07 Intermediate Tuff (carbonate Dyke?)generally light greenish-grey, appears finely laminated at the top but massive in central and lower parts; foliation at 78.25m is 55 dca.; local weak sericitic alteration;quartz stringers parallel schistosity are common; rare fine "hair-like" stringersof quartz-pyrite; scattered quartz eyes; gradational with the underlying unit

80.07 90.32 (Rhyolite ,Rhyolite Tuff)light grey to blue-grey, massive for the most part; banded or moderately schistosefrom 85.0 to 86.25m (foliation 45 to 65 dca.); scattered quartz eyes down to 85.0 m ; lower part of the unit very fine-grained with tectonic brecciation; the lower partof the unit just described also contains scattered fine quartz-pyrite stringers with oftentrace amounts of pale coloured sphalerite, chalcopyrite and galena

90.32 95.00 Intermediate & Mafic Tufflight grey-green or grey; crudely banded or moderately schistose (contorted) at thetop grading downward into a chloritic mudstone(?); dark green to black chlorite is alsopresent along fractures in the upper part of the sequence; the dark chloritic base locally contains patches and fine disseminations of pyrite as well as more rare patches of light coloured sphalerite; probable fault at lower contact at 40 dca.

95.00 104.42 Silicified Zone (Lapilli Tuff)light blue-grey or grey-green; massive, very siliceous; locally relic fragmental (lapilli)textures; upper 1.5m contains relic chloritic patches and bleds; below 1.5m the silicifiedrock is generally weakly sericitized with local finely disseminated pyrite and rarefine quartz-pyrite stringers; contact with the underlying rhyolite not well defined

104.42 109.72 Rhyolitelight blue-grey or grey-green, massive, fine-grained, a single irregular quartz-pyritestringer near the top of the unit; limonite staining on some fractures, chlorite on

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others; weak pervasive sericitic alteration throughout

109.72 124.80 Silicified Zone (Lapilli Tuff)-as above, light blue-grey or grey-green, massive, silaceous, locally relic(?) lapillisized clasts, weak to moderate pervasive sericitic alteration; minor well defined quartzveinlets and stringers; fine disseminated crystals and specks of pyrite common; aa single (hair like) stringer of pyrite-galena occurs at 124.05m; limonite staining onfractures is common; lower contact not well defined

124.80 142.00 Silicified Zone (Mafic Volcanic Unit)commonly mottled light grey with patches and blebs of dark green and lime green; thedark green areas would appear to be chlorite rich while the lime green wisps and patches would appear to be sericite or talc; the unit is strongly deformed and brecciatednumerous distinct quartz veins and stringers (3-5%); foliation between 131.0m and 142.0m is generally 0-25 dca.; pervasive as well as stringer type silicification; lowercontact is abrupt but not well defined

142.00 151.00 Graphitic Argillite (Minor Siltstone-Tuff ?)f ine grained black for the most part with occasional narrow bed of blue-grey or brownishgrey coarser grained siltstone or tuff (?); narrow bands (2-5 cm) as well as numerouslenses of quartz pyrite occur throughout (overall sulfide content is 1-3%); the pyrite islocally nodular or accretionary; bedding at 142.87 is 70 dca., bedding at 147 is 50-55 dca.minor milky white quartz veins concentrated near the top and bottom of the interval;rare crystals arsenopyrite associated with quart-pyrite bands; gradational with the under-lying unit

151.00 161.25 Volcaniclastic Sediment (Tuff ?)light to medium blue-grey; massive to weakly schistose to faintly bedded ; texture variablewith both polymictic rounded clasts as well as intervals of ignimbritic pumice-like angularclasts; bedding at 156.75m is 50-55 dca., bedding at 160.75m is 45 dca., 1-3% milkywhite quartz veins and stringers; contact with the underlying section not well defined;calcareous (weak to moderate reaction with HCL)

161.25 165.45 Volcaniclastic Sediment (Dyke?)medium grey-green, weak to moderately schistose, generally fine-grained with light todark green wisps (fiamme-like) as well as quartz-carbonate amygdules(?); the unitoverall has a high calcium carbonate component and reacts vigorously to dilute HCL;a similar bed of the calcium rich unit is contained in the overlying sequence (from 158.0to158.15m); gradational with the underlying unit

165.45 166.35 Volcaniclastic Sediment (Tuff?)-similar to the section 151.0 to 161.25; gradational with the underlying section; beddingat 166.25m is 50 dca

166.35 170.00 Mudstone - Siltstonemedium to dark grey-green, thin bedded to locally well laminated; bedding at 167.45m is 45-50 dca.; weakly calcareous; cut by numerous veinlets and veins of quartz-calcite; some dark green chlorite-rich beds; lower contact not well defined

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170.00 183.90 Graphitic Argillite (Siltstone, Greywacke)black argillite with local beds of grey or grey-green siltstone; from 170.0 to 171.15graphitic argillite with 2-3% nodules and blebs of quartz-calcite-pyrite (overall pyritecontent for the interval is 1-2%); from 171.15 to 172.0m thin interbedded argillite-calcareoussiltstone with lenses, laminae and nodules of pyrite (pyrite 5-10%); from 172.0m to 177.0m is interbedded graphitic argillite,siltstone and greywacke; bedding at 172.45mis 50 dca.; overall pyrite content in the interval is 1% or less; coarse polymitic unsortedgreywacke at several levels in the section and at the base; section cut by irregular and transposed white quartz-calcite veins, veinlets and stringers; from 177.0 to 183.9ma very uniform section of black graphitic argillite, some narrow light grey siltstone bedstowards the base of the section, fine disseminated pyrite as well as blebs and nodules(overall 1-2% but locally towards the base 2-3%), bedding at 187.35m is 75-80 dca.,bedding at 186.0 is 70 dca.; lower contact is 50-55 dca.

183.90 195.45 Greywackelight grey-green, poorly sorted, massive to crudely bedded; polymitic with subroundedto rounded mainly felsic clasts in a calcareous-chloritic groundmass; clasts range upto 70 cm near the base; lower contact at 30 dca.

195.45 196.21 Volcaniclastic Sediment (Dyke?)similar to the section 165.25m, light grey-green, massive to weakly schistose; abundantfine chloritic and quartz-calcite vesicle-like structures with some larger scattered quartz-calcite structures (3-5mm); lower contact is 40 dca.

196.21 199.80 Greywacke-Siltstonelight to medium blue-grey, bedding in part 45-50 dca.; from 197.04 to 198.72m is a bed(?)dyke(?) similar to the overlying unit; 1-3% quartz-calcite veining; fine disseminatedpyrite (less than 1%) associated with some finer siltstone beds

199.80 201.30 Graphitic Argilliteblack with thin beds of medium grey greywacke, locally laminated or thinly bedded; bedding is generally 45-55 dca.; pyrite is commonly present as fine disseminationsor as blebs and nodules (overall pyrite content1-3%); greywacke units are polymitic and poorly sorted; lower contact gradational

201.30 204.05 Greywackemedium blue-grey or grey-green; coarse clasts prominent towards the top of the section;remainder of the section is finer grained and generally massive; weakly calcareous atthe top of the section; scattered patches and lenses (some nodules) of pyrite especiallycommon in the middle of the section (locally 3-5%); a single 14 cm quartz vein at 202 mcuts the core at 45-55 dca.; lower contact gradational

204.05 229.60 Graphitic Argillitefor the most part black,; minor thin light to medium grey beds of greywacke or siltstone;locally contorted and disrupted laminae suggest probable soft sediment deformation;bedding at 213.35 is 50 dca., bedding at 216.45m is 45-55 dca.; from 204.05 to 227.0 m generally 1% or less pyrite; from 227.0 to 229.6m 2-3% pyrite (disseminated and in lenses or discontinuous veinlets with quartz-calcite; bedding at 221.65 is 65-70 dca.;

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the black argillite contains numerous (2-4%) irregular quartz-calcite veins, veinlets and stringers; lower contact is abrupt but not well defined

229.60 238.30 Greywacke-Siltstone (Argillite)medium grey to blue-grey with dark grey to black argillite horizons towards the base of the section; generally thinly bedded with a few well laminated horizons; (bedding is generally 40-60 dca.); overall the sediments contain 2-5% pyrite as disseminationsblebs and nodules, from 229.8 to 230.0 and from 232.35 to 233.35 fine siltstone bedscontain10-20% fine grained pyrite; 1-3% irregular white quartz-calcite veins and stringers;lower contact sharp but irregular (generally high angles tca.

238.30 249.40 Siltstonelight grey-green to dark grey; massive, fine-grained, some local tectonic brecciation with dark green chlorite on fractures; 1-2% milky white quartz and quartz-calcite veins; veryuniform texture, at 245.10m is single 10 cm quartz-chlorite-calcite vein with2-5% dissem-inated pyrite (45-75 dca.); weakly calcareous,buff colored and cherty at lower contact

249.40 265.45 Greywacke - Siltstonelight to medium grey or bluish-grey; laminated to thinly bedded; greywacke beds tend tolight in colour while siltstone bed are typically well laminated; bedding between 251m and 254m tends to be at low angles or parallel tca (soft sediment deformation or folding?)bedding at 258.45 is 55-60 dca., bedding at 263.20 is 55-60 dca., bedding at 266.80m is 45 dca.; scour and flame structures at bed interfaces give conflicting tops directions;pyrite is often present as fine disseminations and blebs but usually doesn't exceed 1%(an exception 257.8 to 257.95 were patches and blebs occur in association with darkchlorite and quartz-calcite stringers and from 263.35 to 264.70m where nodules and lenses of pyrite occur in coarsely laminated siltstone -- 3 to 5%); coarser siltstone and greywacke beds tend to be calcareous; 1-2% white quartz -calcite veins ; gradationalwith the underlying section

265.45 276.62 Siltstonemedium blue-grey, thinly laminated; bedding at 269.0m is 40 dca., bedding at 272.0 is20 dca., bedding at 275.0m is 55 dca., lower contact is sharp at 50 dca.; rare whatappear to be small lense of calcareous sandstone or greywacke; locally the siltstone isweakly calcareous; 1-3% veinlets and stringers of white quartz-calcite

276.62 305.00 Siltstonegenerally medium grey-green with some light grey-green horizons; massive, fine-grained;very uniform texture with little or no evidence of bedding; cut by minor milky white quartz-calcite veins and stringers (1%); minor internal tectonic brecciation; generally weaklycalcareous; no sulfide mineralization

305.00 End of Hole

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Mountain Lake Res Geological Log Down Hole Survey Depth Dip Azimuth

Page : Of 224 -51.0 158.7

Project: Cornerstone Option Coordinates Azimuth: 137Drill Hole CS-09-02 Grid N: 13775 Inclination: -55Logged By : D. Rankin Grid E: 16500 Final Depth: 230.0mStart Date : July 29.2009 UTM E: 0516666 Station No : CasingFinish Date : Aug 1, 2009 UTM Nad 27 5392405 N Plan No : Size Fm TO

Scale : Casing NWRod NQ

Depth & Recovery Rock Type Description Alteration % Mineralization % Structure

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0.00 3.00 Overburden

3.00 5.00 Rhyolitemedium blue-grey, fine-grained, very silaceous, scattered blue "quartz eyes" or pheno-crysts, several quartz-limonite(after pyrite) veins at 10-20 dca.; appears gradational withthe underlying section

5.00 49.40 Dacite or Intermediate Volcanic Flowlight to medium grey-green, massive to faintly schistose; strongly fractured with much limonite staining between 5.90m and 11.05m (shear zone or fault); occasionalquartz-limonite down to 31.0 m; limonite staining on fractures also common; at 20.40m an irregular patch of fine-grained quartz-pyrite; generally the unit containslittle or no visible sulfide mineralization; cut locally by milky white quartz stringers, veinletsand stringers (overall 1% or less)

49.20 56.20 Intermediate - Mafic Volcanic Flowvariable texture and colour; usually medium to dark grey-green but some buff or lightgreen intervals; flow-type breccias near upper and lower margins; somenarrow bands of quartz filled amygdule-like structures; chlorite and sericite commonon internal fractures and also as occasional streaks; lower part of the section appearssilicified; cut by several veins of milky white quartz

56.20 77.23 Rhyolitelight to medium grey to light grey-green; an interval from about 69.20 to 70.71m is some-

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darker (grey-green) due to local elevated chloritic alteration; generally the rhyolite is weakly sericitized; quartz veining is common especially in the upper partof the section (5% to 64.0m); fine fractures throughout commonly have a film of darkgreen chlorite; generally the rhyolite is massive with local internal autoclastic brecciation; lower contact is shart at 50.0 dca.

77.23 79.60 Rhyolite Lapilli Tuffmedium grey-green, moderately schistose (50-55 dca.);cream coloured and lightgrey felsic clasts in a finer tuffaceous, strongly sericitized groundmass; scatteredquartz phenocrysts; lower contact sharp at 30-35 dca.

79.60 100.40 Rhyolite Bxbrecciated, massive, cream coloured breccia fragments usually engulfed by a darkgrey or grey-green groundmass; some bands of weak to moderate sericitic alteration;this flow top breccia at the top of the section is also locally silicified; below82.55 the rhyolite is typically massive, very fine-grained, and generally a light pink colour;sericitic alteration is common along fractures and also in crude patches and bands; less common is limonite staining, again along fractures; narrow milky whitequartz veins are rare; dark green chlorite occurs as scattered "ghosts) and along fracturesnear the base of the section; contact with underlying unit is not well defined

100.40 103.45 Intermediate Flow light to medium grey-green, weak to moderately schistose or flow banded (?) - 30 dca.

variable textures from coarsely fragmental to crudely banded; amygduleor spherulic structures noted at several levels; sericite alteration giving way to chlorite alteration towards the base; lower contact sharp at 30 dca.

103.45 106.85 Quartz Felsdspar Porphyrygenerally medium grey-green, appears in part be a quartz-feldspar porphyry; stronglimonite straining immediately above and below 104.0 m ; anhedral white feldsparphenocrysts in a very fine groundmass with abundant "quartz eyes"

106.85 107.98 Intermediate Flow medium grey-green, weakly schistose to laminated (50-60 dca.); coarsely fragmentalin part (cream coloured and quartz clasts) within a sericitic groundmass; streaks and narrow bands with dark green chlorite also present; lower contact irregular (25 dca.?)

107.98 112.00 Rhyolite Brecciamedium grey, massive, abundant angular and subrounded clasts in a fine silaceous groundmass; monolithologic; tectonic(?); resembles the breccia unit found at thenortheast end of the Bobby's Pond deposit;

112.00 120.25 Intermediate Tuff - Flow (?)medium grey-green, massive to weakly schistose (45-55 dca.); locally appears fragmental(lapilli sized clasts); chloritic; fine quartz eyes not uncommon; spherulitic (?) texturein part; moderately well fractured with limonite common on fractures; gradational withthe underlying unit ; fault gouge at 120.0m (55 dca.)

120.25 126.43 Rhyolite (Silicified Zone ?)medium grey, massive, some patchy white silicification; minor sericite, chlorite and hematite associated with fractures; minor quartz veins and veinlets; scattered specks of pyrite throughout; lower contact not well defined

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126.43 130.09 Intermediate Tuff - Flow ?mottled medium grey-green and grey-white; silicified ? ; massive, patchy sericitic and chloritic alteration; scattered specks of fine-grained pyrite throughout , lower contactnot well defined

130.09 137.50 Rhyolite (Silicified Zone)as above, medium grey with patches and bands of grey-white quartz; massive for the most part but foliation at 134.8m (50 dca.); 1-2% veins and veinlets of milky quartz ;dark green chlorite common on fractures; local red hematite staining; minor sericiticalteration

137.50 147.87 Intermediate to Felsic Tuffmottled medium and dark grey-green becoming mainly light green downward; weakto moderately schistose with rare thin beds(at 141.0 bedding 45 dca.); at 141.5m schistosity is 50-60dca.; quartz eyes or phenocrysts are common to abundant; somebands of intense chloritic alteration(rare sericite rich bands); possible fault gouges at140.40 and 140.80m; lower contact sharp but irregular (in part 45 dca.

147.87 156.10 Silicified Lapilli Tuff (Rhyolite?)light to medium grey; massive, local patchy silicification and weak sericitic alteration;1-3% veins and veinlets of milky white quartz; locally fragmental appearance commonlyobscured by silicification; minor dark chlorite along some fractures or as streaks andblebs; lower contact marked by 7.0 cm vein of quartz at 60-70 dca.; trace fine-grainedpyrite throughout

156.10 161.17 Rhyolitegenerally medium grey; fine-grained; locally brecciated (flow top breccia); cut by minor veinlets and stringers of milky white quartz (1-2%); local whisps of sericite; broken core at lower contact containing quartz vein material

161.17 174.59 Silicified Lapilli Tuff (Rhyolite)similar to interval 147.87 to 156.10 m; light to medium grey; massive; patchy whitesilicification; local vague fragmental textures; sericite and less often chlorite alongfractures; trace amounts of pyrite which is usually associated with the alteration; cutby numerous fine stringers and veinlets of milky quartz

174.59 177.22 Rhyolitesimilar to the section 156.10 to 161.17 m; medium grey, very fine grained; massive;fine stringers of milky quartz and patches common; sericite present on some fractures(minor associated fine pyrite); brecciated (tectonic); lower contact 60 dca.; rare patchesand blebs of pyrite

177.22 177.76 Intermediate Tuffmedium to dark grey-green with whisps and patches of light brown; scattered quartzeyes in a chlorite-sericite rich fine groundmass; weakly schistose (50 dca.)

177.76 182.34 Silicified Lapilli Tuff (Rhyolite)similar to the overlying interval; medium grey or grey-green; commonly appears fragmen-tal or brecciated; patchy silicification; sericite and less often chlorite on fractures and

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engulfing clasts; trace fine-grained pyrite; massive; minor quartz veinlets and stringers;

182.34 183.71 Intermediate Tuffsimilar to the section 177.22 to 177.76 m; light to medium brown ; moderately schistoseto crudely laminated (55 dca.); sharp upper and lower contacts; from 182.85 to 183.00mbed of silicified lapilli tuff(?); abundant fine quartz eyes in a sericite rich groundmass;lower contact at 50-55 dca.

183.71 189.85 Silicified Lapilli Tuff (Rhyolite)similar to overlying sections; light to medium grey; massive; very fine-grained rhyoliticintervals interlayered with vaguely brecciated/fragmental sections; patchy and fracturefilling sericite-chlorite; moderately well fractured

189.85 201.50 Graphitic Argillite/Greywacke/Tuff/Chertinterbedded sequence dominated by black graphitic argillite and unsorted greywacke;several narrow beds of pyrite-sericite rich tuff also occur near the top of the section;the latter are a yellowish brown colour and 5-10 cm in width; the greywacke intervalsare medium grey and locally contain angular clasts of the argillite; from 190.30 to 190.80mfault gouge (in part parallel tca. with upper margin 30 dca.); this major structure containsfragments of quartz as well as ground up sulfide(pyrite); bedding at 141.0m is 40dca.;bedding at 193.0m is 0-20 dca.(soft sediment deformation ?); bedding at 201.0m is 60 dca.; mineralization:from 189.95 to 190.5 contains 10 cm banded pyritic tuff at the top of the section and fault gouge containing ground sulfidefrom 190.80 to 191.30 contains several narrow sericitic-pyritic tuff bands and chertfrom 197.50 to 198.00 contains light to honey coloured minerals as disseminationsand blebs (sphalerite ??)from 201.10 to 201.50m 40-50% fine -grained pyrite-sphalerite(?); mineralization elsewhere in the bedded sequence consists of specks and blebs of

201.50 220.53 Graphitic Argilliteblack, massive or weakly schistose ( at 205.5 m is 35 dca.; at 207.0m is 30 dca);faintand commonly disrupted bedding (at 209.0m 45 dca.); 1-2% pyrite in discontinuousstringers and veinlets, speck and blebs; 1-2% milky white quartz-calcite veinlets and stringers; schistosity near lower contact is 0-30 dca.; lower contact sharp at 60-70 dca.

220.53 222.47 Greywackegenerally medium blue-grey ; thickly laminated to thinly bedded; bedding at 220.70mis 60-65 dca.; pyrite occurs as disseminations, blebs and discontinuous laminaeand is most common near the upper and lower contacts; angular black clasts of argilliteare common in some greywacke beds; local irregular veinlets and pods of quartz-calcitefrom 221.75 to 222.75 mixture of greywacke and argillite containing 3-5% pyrite and light grey unidentified fine-grained mineral (sphalerite?)

222.47 230.00 Graphitic Argilliteas above; black, massive to weakly schistose (at 225 is 0-15dca.), bedding at 225.5

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is 30 dca.; rare large angular clasts of pyritc greywacke near the top of the section;locally cut by many "hair like" stringers of quartz-calcite; minor veinlets of white quartz-calcite; contains 1-3% pyrite as blebs, streaks and discontinuous laminae

230.00 End Of Hole

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Mountain Lake Res Geological Log Down Hole Survey Depth Dip Azimuth

Page : Of

Project : Cornerstone Option Coordinates Azimuth: 137 Hole No CS-09-03 Grid N: 136+35 Inclination: -45Logged By : D. Rankin Grid E: 162+00 Final Depth: 112mStart Date : Aug. 02, 2009 UTM E: 0516565 , Station No : CasingFinish Date : Aug. 03, 2009 UTM Nad27 N: 5392085 Plan No : Size Fm TO

Scale : Casing NWRod NQ

Depth & Recovery Rock Type Description Alteration % Mineralization % Structure

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0.00 5.00 Overburden

5.00 7.25 Rhyolite Lapilli Tuffmedium grey-green but strongly stained (iron oxide) through the first meter; fine-grainedwhite and light grey rhyolite clasts in a weak to moderately sericitized finer tuffaceousgroundmass; schistosity at 40-50 dca.; lower contact at 50 dca.

7.25 7.85 Intermediate Flowmedium to dark grey-green; fine-grained; abundant quartz amygdules; contains a9.0 x 3.0 cm inclusion of cream-white quartz; lower contact irregular but generally at high angles tca. (50-60 degrees)

7.85 11.20 Rhyolite Lapilli Tuffas above; light grey-green; weakly schistose defined in large part by streaks of sericite;schistosity at 10.85m is 55 dca.; polymitic; rare patches and blebs quartz-pyrite; at 9.80ma 12 cm quartz-chlorite band at 35 dca.; contact with underlying unit strongly fractured;

11.20 17.25 Intermediate Flow (Tuff ?)as above; medium to dark grey-green; commonly appears banded and locally amygdal-oidal; banding at 13.95 is 50 dca.;banding at 16.70m is 50 dca.; between 16.60 and 17.00m minor pyrite associated with dark grey silaceous laminae; lower contact not well defined

17.25 18.42 Alteration Zonegenerally white with regular streaks of light to dark green sericite; probably belongs to

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the overlying unit; from 18.00 to 18.42m essentially milky white quartz; lower contactis 70-75 dca.

18.42 24.68 Rhyolitelight greenish grey; massive to weakly schistose; often with numerous fine quartz eyesor phenocrysts; uniform fine-grained texture; schisosity at 24.0 m is 40-50 dca.;cut by minor milky white quartz veinlets and stringers; lower contact is 60 dca.

24.68 25.45 Rhyolite Lapilli Tuffas above, weakly schistose (50-60 dca.); weak to moderate sericitic alteration; upperand lower margins not well defined

25.45 30.25 Silicified Tuff or Rhyoliteroughly 20-25% milky white quartz (patchy and vein-type); relic volcanic host is locallystrongly sericitized; from 27.92m to 28.60m moderately schistose (tuff ?) with foliationat 35 dca.; altered unit gradational with the underly section

30.25 51.23 Rhyolitelight to medium greenish-grey; fine-grained; massive to faintly schistose (at 31.0 m 40dca., at 38.10m 40-50 dca.); from 40.40m to 41.90m 10-15% quartz veins at generallylow angles tca. (20-30 degrees); some intervals in the section contain both quartz andfeldspar phenocrysts, others contain only scattered quartz eyes and yet other intervalcontain neither(fine-grained); at 49.60m schistosity is 45 dca.; lower contact irregularbut in part 40 to 50 dca.;

51.23 53.60 Rhyolite (?) Lapilli Tuff

the section is prevasively silicified and may indeed be a part of the overlying section; cream coloured lapilli sized clasts within a finer sericite (minor chlorite) richgroundmass; lower contact in part 50 dca.

53.60 56.95 Intermediate to Felsic Flowlight brown with dark grey alteration about fractures and breccia fragments; very finegrained ; quartz filled amygdule-like structures common in the central part of the section(to 8mm but generally less than 5mm in diameter); spherulites??, very fine grainedfrom 56.45 to 56.95 silicified zone with 60% milky white quartz

56.95 62.48 Rhyolite Lapilli Tuffmedium greenish grey with some light grey-white intervals; generally moderate sericitealteration; 1-3% irregular quartz vein-type material; weak to moderately schistose(at 59.30m 35 dca.); mostly light grey and cream coloured felsic clasts in a finer sericiterich groundmass; possibly some larger blocks of volcanic material (?); lower contactnot well defined

62.48 66.00 Intermediate Flow (Tuff?)variable in colour from light yellowish grey to greenish grey to medium blue-grey;fine-grained, banded to weakly schistose; banding at 62.75m is 50 dca. and schistosityis 30 dca.; lower contact is 50 dca.; 1-3% milky white quartz veinlets and veins

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66.00 73.55 Rhyolitelight bluish-grey, massive to weakly schistose; moderately well fractured (often at lowangles tca.); local patchy pervasive silicification; locally contains specks and blebs ofpyrite , the later usually associated with weak sericitic alteration along fractures (overallless than 1% pyrite); lower contact not well defined

73.55 77.10 Intermediate Flowmedium to dark grey, locally brecciated (flow?); somewhat more chloritic that the overlyingrhyolite but with blocks(?) of the overlying unit; massive; cut by stringers and veins of quartz-calcite; (1-2%); lower contact 30 dca.

77.10 93.40 Rhyolite Tuff - Lapilli Tuffmedium to dark blue-grey; massive to weakly schistose; foliation at low angles or parallelto the core axis; quartz eyes are often present and locally abundant; from 83.0 to 88.5 mthe tuff contains a number of streaks of fine-grained quartz-pyrite (plus or minus minorchlorite) with locally trace amounts of sphalerite; overall mineralization in the section is0.5% or less; large fragments or disrupted beds near the bottom of the section;

93.40 102.88 Rhyolite Tuff - Lapilli Tuff (Greywacke ? )medium grey-green to blue-grey; more chloritic near the top of the section; generallymassive to faintly schistose; locally contains lapilli sized clasts but for the most parttuffaceous with abundant fine quartz eyes; schistosity at 100 m is 20-30 dca.; 1-2%quartz-calcite veinlets and stringers; lower contact not well defined

102.88 106.82 Greywackelight to medium grey-green; massive to faintly schistose to crudely bedded(?); foliationat low angles or parallel tca.; mostly cream or light grey coloured clasts with finer argillite;poorly sorted; blebs and fine disseminations of fine-grained pyrite are common especially in the coarser intervals near the base; gradational with the underlying sequence

106.82 112.00 Greywacke/Argillite/Tuffinterbedded sequence of black pyritic argillite, dark grey greywacke and light grey-greentuff or siltstone(?); units often interlayered; bedding 107.45m is 20-25 dca.; bedding at111.70m is 35 dca.; from 107.50 to 109.0 m 3-10% pyrite as irregular veinlets (with and without quartz) and disseminated specks and blebs (trace galena)

112.00 End of Hole

35

APPENDIX lll

SAMPLE INTERVALS & ASSAY CERTIFICATES

DRILL CORE

36

DRILL CORE SAMPLE INTERVALS

HoleID  From To SampNo

CS 09 02  189.85 190.5 4151

CS 09 02  190.8 191.3 4152

CS 09 02  197.5 198 4154

CS 09 02  200.6 201.1 4155

CS 09 02  201.1 201.5 4156

CS 09 02  201.5 201.85 4157

CS 09 02  221.75 222.75 4158

CS 09 03  84 85 4159

CS 09 03  87.5 88.5 4160

CS 09 03  107.5 108 4161

CS 09 03  108 109 4162

Au Fire Assay/ICP Geochemistry CertificateClient: Mountain Lake ResourcesGeologist: D. Rankin Eastern Analytical LimitedProject: Cornerstone P.O. Box 187Sample: Core Little Bay Road Signed by:______________________

Springdale, NLDskFile: 621-E99581 A0J 1T0 (Concentrations in assay range

may cause interferences in DateIn: August 13, 2009 Phone: 709-673-3909 associated elements.)DateOut: August 18, 2009 Fax: 709-673-3408

Email:easternanalytical@nf.aibn.com---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- --------Sample Au Ce Sr Ba Fe P Hg Mg As V Na Mo Al Be Ca Zn Cu Sb Ag Pb Bi Ti Cd Co Ni W La K Mn Sn CrNumber ppb ppm ppm ppm % % ppm % ppm ppm % ppm % ppm % ppm ppm ppm ppm ppm ppm % ppm ppm ppm ppm ppm % ppm ppm ppm---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- --------4159 5 10 44 52 2.36 0.01 1 2.53 22 2 0.13 2 1.67 0.5 2.20 533 70 5 0.5 19 2 0.01 3.0 3 1 10 10 0.09 717 20 794160 11 11 72 62 2.19 0.01 1 3.41 37 1 0.13 2 1.78 0.5 3.34 >2200 130 19 1.3 154 2 0.01 23.1 2 1 10 10 0.09 858 20 464161 93 13 99 82 4.16 0.06 1 1.75 350 8 0.13 9 0.73 0.5 3.65 >2200 1070 9 >6.0 1806 2 0.01 30.1 8 8 10 10 0.12 470 20 484162 127 32 197 201 5.85 0.45 1 1.87 549 38 0.12 19 0.59 0.5 >5.50 >2200 1647 17 >6.0 >2200 2 0.01 36.9 10 23 10 10 0.11 780 20 36

Au Fire Assay/ICP Geochemistry CertificateClient: Mountain Lake ResourcesGeologist: D. Rankin Eastern Analytical LimitedProject: Cornerstone Option P.O. Box 187Sample: Drill Core Little Bay Road Signed by:______________________

Springdale, NLDskFile: 621-E99583 A0J 1T0 (Concentrations in assay range

may cause interferences in DateIn: August 13, 2009 Phone: 709-673-3909 associated elements.)DateOut: August 18, 2009 Fax: 709-673-3408

Email:easternanalytical@nf.aibn.com------------------------------------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------Sample Au Ce Sr Ba Fe P Hg Mg As V Na Mo Al Be Ca Zn Cu Sb Ag Pb Bi Ti Cd Co Ni W La K Mn Sn CrNumber ppb ppm ppm ppm % % ppm % ppm ppm % ppm % ppm % ppm ppm ppm ppm ppm ppm % ppm ppm ppm ppm ppm % ppm ppm ppm------------------------------------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------4151 5 30 68 224 3.97 0.10 1 1.46 82 17 0.16 5 1.67 0.5 3.95 2017 513 5 1.1 110 2 0.01 11.4 11 22 10 10 0.16 693 20 874152 31 50 110 55 8.07 0.68 1 0.91 151 13 0.15 1 1.23 0.5 4.28 85 39 8 2.6 40 2 0.01 2.2 35 67 10 10 0.21 435 20 754154 5 12 114 145 3.87 0.08 1 1.02 21 3 0.13 1 0.52 0.5 3.84 115 15 5 0.2 6 2 0.01 1.2 20 3 10 10 0.17 297 20 214155 5 26 85 184 3.29 0.07 1 1.34 7 11 0.14 1 1.39 0.5 4.68 67 118 5 0.2 3 2 0.01 0.8 13 6 10 10 0.17 448 20 364156 5 47 80 86 6.40 0.44 1 0.74 47 8 0.16 1 0.89 0.5 4.66 91 25 5 0.7 23 2 0.01 1.8 18 38 10 10 0.20 385 20 374157 5 40 54 38 6.71 0.40 1 0.57 64 10 0.17 1 0.64 0.5 2.36 62 29 7 1.1 34 2 0.01 1.8 13 60 10 10 0.23 219 20 454158 5 42 89 61 6.11 0.25 1 0.60 51 19 0.12 5 1.30 0.5 2.60 245 45 6 0.7 27 2 0.01 2.9 30 65 10 10 0.14 222 20 60

Assay CertificateClient: Mountain Lake ResourcesGeologist: D. Rankin Eastern Analytical LimitedProject: Cornerstone P.O. Box 187Sample: Core

Springdale, NLDskFile: 621-E99614 A0J 1T0

Signed by:______________________DateIn: August 13, 2009 Phone: 709-673-3909 Graham SmithDateOut: August 19, 2009 Fax: 709-673-3408

Email:easternanalytical@nf.aibn.com------------------------ ------------------- -------------- -------------- -------------- -------------- -------------- ------------------------------------------------------------------------------------------------------------------------------------------------SAMPLE Pb Zn AgNUMBER % % g/t------------------------ ------------------- -------------- -------------- -------------- -------------- -------------- ------------------------------------------------------------------------------------------------------------------------------------------------4160 --- 0.47 ---4161 --- 0.60 16.14162 0.64 0.80 20.7

40

APPENDIX IV

GRAVITY SURVEY DATA, LOGISTICS REPORT

AND INTERPRETATION REPORT

/Mountain Lake Resources Inc./Detailed Gravity Survey/Bobby's Pond Property, Central NL, May 2009/Horizontal Datum: Nad27/UTM Zone 21/Bouguer Density 2.67/Line Stn UTMX UTMY Elev FreeAir ObsGrav ITC Bouguer Corr_Bouguer

16200 12825 517142.782 5391551.242 285.311 33.55 980896.7 0 1.62 1.62 1225 m16200 12850 517125.053 5391567.544 287.654 33.83 980896.26 0 1.64 1.6416200 12875 517104.461 5391585.511 292.286 34.27 980895.29 0 1.57 1.5716200 12900 517091.45 5391597.946 292.714 34.2 980895.1 0 1.45 1.4516200 12925 517068.82 5391618.638 284.681 33.29 980896.68 0 1.43 1.4316200 12950 517052.402 5391633.643 284.371 33.16 980896.66 0 1.34 1.3416200 12975 517033.29 5391649.993 284.483 33.07 980896.55 0 1.24 1.2416200 13000 517012.085 5391664.433 284.657 33.05 980896.49 0 1.2 1.216200 13025 516997.294 5391683.507 284.649 33.1 980896.56 0 1.25 1.2516200 13050 516976.746 5391700.75 284.899 32.98 980896.37 0 1.1 1.116200 13075 516959.227 5391717.371 284.9 32.99 980896.4 0 1.11 1.1116200 13100 516939.433 5391734.632 285.691 33.08 980896.25 0 1.11 1.1116200 13125 516923.852 5391750.581 289.979 33.5 980895.37 0 1.06 1.0616200 13150 516907.954 5391764.575 298.884 34.46 980893.59 0 1.01 1.0116200 13175 516890.548 5391780.75 296.742 34.37 980894.17 0 1.17 1.1716200 13200 516871.146 5391797.98 299.303 34.67 980893.7 0 1.18 1.1816200 13225 516851.87 5391816.137 301.977 34.99 980893.21 0 1.2 1.216200 13250 516832.09 5391834.209 307.711 35.44 980891.9 0 1.01 1.0116200 13275 516814.904 5391848.494 303.542 35.23 980892.99 0 1.26 1.2616200 13300 516797.642 5391864.255 302.783 35.12 980893.13 0 1.24 1.2416200 13325 516780.162 5391880.823 301.908 35.02 980893.31 0 1.23 1.2316200 13350 516761.723 5391897.506 300.692 34.91 980893.59 0 1.26 1.2616200 13375 516740.942 5391916.215 300.634 34.86 980893.57 0 1.22 1.2216200 13400 516727.906 5391939.536 303.703 35.13 980892.92 0 1.15 1.1516200 13425 516709.789 5391943.759 304.334 35.17 980892.77 0 1.12 1.1216200 13450 516709.771 5391943.88 304.33 35.15 980892.75 0 1.1 1.116200 13475 516688.816 5391962.599 304.052 35.07 980892.76 0 1.05 1.0516200 13500 516670.33 5391978.248 304.966 35.08 980892.51 0 0.96 0.9616200 13525 516650.674 5391995.861 304.8 34.98 980892.47 0 0.87 0.8716200 13550 516631.721 5392013.04 306.866 35.11 980891.98 0 0.77 0.7716200 13563 516621.257 5392022.201 313.532 35.71 980890.53 0 0.63 0.6316200 13575 516615.216 5392027.902 315.8 36 980890.12 0 0.66 0.6616200 13588 516606.997 5392035.407 318.78 36.32 980889.53 0 0.65 0.6516200 13600 516598.537 5392042.897 319.879 36.46 980889.34 0 0.67 0.6716200 13613 516587.677 5392052.624 318.259 36.37 980889.75 0 0.75 0.7516200 13625 516578.893 5392060.309 319.76 36.48 980889.41 0 0.7 0.716200 13638 516569.543 5392068.476 323.069 36.78 980888.7 0 0.63 0.6316200 13650 516561.225 5392076.436 325.129 37.02 980888.3 0 0.64 0.6416200 13663 516551.467 5392082.97 327.933 37.3 980887.72 0 0.6 0.616200 13675 516542.204 5392093.037 329.112 37.4 980887.47 0 0.57 0.5716200 13700 516523.215 5392109.489 326.674 37.26 980888.09 0 0.7 0.716200 13725 516504.047 5392126.566 324.339 37.02 980888.59 0 0.73 0.7316200 13750 516487.316 5392143.397 324.381 36.98 980888.55 0 0.68 0.6816200 13775 516470.566 5392162.81 324.814 37.12 980888.57 0 0.77 0.7716200 13800 516449.63 5392177.102 323.958 37.06 980888.79 0 0.81 0.8116200 13825 516432.491 5392193.185 320.159 36.64 980889.56 0 0.82 0.8216200 13850 516415.109 5392208.823 319.936 36.52 980889.52 0 0.72 0.7216200 13875 516391.64 5392229.842 325.983 36.98 980888.12 0.003 0.5 0.5116200 13900 516379.954 5392240.417 323.39 36.68 980888.63 0.007 0.49 0.516200 13925 516361.394 5392255.391 312.462 35.65 980890.99 0.01 0.69 0.716200 13950 516343.521 5392273.366 309.288 35.34 980891.68 0 0.74 0.7416200 13975 516325.369 5392288.869 308.268 35.21 980891.87 0 0.72 0.7216200 14000 516306.861 5392306.183 307.82 35.18 980891.99 0 0.73 0.7316200 14025 516287.906 5392323.013 310.89 35.49 980891.36 0 0.7 0.716200 14050 516271.056 5392339.539 310.2 35.52 980891.62 0 0.81 0.81

16300 12750 517284.272 5391543.067 270.213 31.69 980899.49 0 1.46 1.46 1350 m16300 12775 517266.228 5391560.219 272.32 32.09 980899.25 0 1.62 1.6216300 12800 517247.888 5391576.75 276.271 32.51 980898.47 0 1.6 1.616300 12825 517229.94 5391593.603 278.803 32.78 980897.97 0 1.58 1.5816300 12850 517210.892 5391611.342 283.008 33.26 980897.16 0 1.59 1.5916300 12875 517194.968 5391626.138 286.978 33.71 980896.41 0 1.6 1.616300 12900 517173.989 5391645.617 288.835 33.93 980896.06 0 1.61 1.6116300 12925 517157.284 5391661.966 288.888 33.85 980895.98 0 1.52 1.5216300 12950 517138.693 5391678.108 287.234 33.63 980896.28 0 1.49 1.4916300 12975 517120.385 5391694.753 287.947 33.57 980896.02 0 1.35 1.3516300 13000 517103.876 5391712.109 287.246 33.38 980896.06 0 1.24 1.24

/Line Stn UTMX UTMY Elev FreeAir ObsGrav ITC Bouguer Corr_Bouguer16300 13025 517085.255 5391728.993 286.907 33.37 980896.16 0 1.26 1.2616300 13050 517066.853 5391744.387 286.883 33.35 980896.17 0 1.25 1.2516300 13075 517048.301 5391762.138 287.627 33.35 980895.95 0 1.16 1.1616300 13100 517029.239 5391779.662 287.202 33.29 980896.04 0 1.16 1.1616300 13125 517011.45 5391796.122 288.318 33.34 980895.76 0 1.08 1.0816300 13150 516992.773 5391813.721 290.461 33.58 980895.35 0 1.08 1.0816300 13175 516975.131 5391829.35 292.585 33.82 980894.94 0 1.08 1.0816300 13200 516954.547 5391849.143 295.172 34.15 980894.49 0 1.12 1.1216300 13225 516939.209 5391864.205 296.282 34.27 980894.28 0 1.12 1.1216300 13250 516917.654 5391883.951 298.494 34.51 980893.86 0 1.11 1.1116300 13275 516901.973 5391897.965 302.062 34.9 980893.16 0 1.1 1.116300 13300 516884.604 5391915.101 302.522 35.08 980893.2 0 1.22 1.2216300 13325 516866.834 5391930.721 305.399 35.36 980892.61 0 1.19 1.1916300 13350 516848.15 5391947.354 304.913 35.3 980892.72 0 1.18 1.1816300 13375 516829.285 5391964.36 304.445 35.2 980892.77 0 1.13 1.1316300 13400 516811.696 5391982.365 304.697 35.21 980892.73 0 1.12 1.1216300 13425 516793.384 5391998.147 303.007 35.06 980893.1 0 1.15 1.1516300 13450 516775.463 5392015.145 303.721 35.02 980892.86 0 1.03 1.0316300 13475 516757.239 5392031.507 302.652 34.81 980892.99 0 0.94 0.9416300 13500 516739.19 5392049.554 303.175 34.67 980892.7 0 0.74 0.7416300 13525 516720.118 5392066.586 303.094 34.68 980892.75 0 0.76 0.7616300 13550 516702.492 5392082.613 303.499 34.82 980892.78 0 0.85 0.8516300 13563 516692.334 5392091.615 304.332 34.82 980892.53 0 0.77 0.7716300 13575 516684.613 5392099.301 306.144 35.01 980892.17 0 0.75 0.7516300 13588 516675.596 5392107.315 309.191 35.27 980891.49 0 0.67 0.6716300 13600 516664.675 5392116.473 310.843 35.46 980891.18 0 0.68 0.6816300 13613 516657.817 5392123.178 311.617 35.54 980891.03 0 0.67 0.6716300 13625 516645.618 5392134.629 316.099 35.95 980890.06 0 0.58 0.5816300 13638 516639.21 5392142.957 317.69 36.17 980889.81 0 0.63 0.6316300 13650 516630.184 5392150.176 320.222 36.43 980889.29 0 0.6 0.616300 13663 516621.603 5392156.889 322.132 36.64 980888.92 0 0.6 0.616300 13675 516612.718 5392167.119 322.662 36.72 980888.84 0 0.62 0.6216300 13700 516593.265 5392183.55 320.919 36.57 980889.24 0 0.66 0.6616300 13725 516578.856 5392201.135 325.079 36.96 980888.36 0 0.58 0.5816300 13750 516557.784 5392217.817 329.081 37.29 980887.47 0 0.47 0.4716300 13775 516538.489 5392234.364 323.473 36.86 980888.78 0 0.67 0.6716300 13800 516518.158 5392248.743 322.216 36.75 980889.07 0 0.7 0.716300 13825 516502.671 5392267.439 321.118 36.67 980889.34 0 0.73 0.7316300 13850 516483.122 5392284.987 320.215 36.49 980889.46 0 0.66 0.6616300 13875 516466.086 5392300.199 319.665 36.44 980889.6 0 0.68 0.6816300 13900 516451.093 5392317.708 317.095 36.14 980890.1 0 0.66 0.6616300 13925 516432.132 5392332.11 313.986 35.72 980890.65 0 0.59 0.5916300 13950 516412.842 5392350.164 310.91 35.43 980891.32 0 0.64 0.6416300 13975 516393.982 5392366.208 309.238 35.19 980891.61 0 0.59 0.5916300 14000 516377.516 5392382.163 308.673 35.11 980891.71 0 0.57 0.5716300 14025 516357.075 5392400.283 308.582 35.16 980891.81 0 0.63 0.6316300 14050 516339.756 5392417.448 308.596 35.19 980891.85 0 0.65 0.6516300 14075 516320.506 5392435.263 308.361 35.19 980891.94 0 0.69 0.6916300 14100 516304.248 5392449.88 306.858 35 980892.22 0 0.66 0.66

16400 12650 517402.005 5391549.837 267.085 31.33 980900.09 0 1.44 1.44 1500 m16400 12675 517382.811 5391568.573 268.084 31.47 980899.94 0 1.47 1.4716400 12700 517367.55 5391583.35 269.81 31.61 980899.57 0 1.42 1.4216400 12725 517349.636 5391599.916 271.938 31.88 980899.19 0 1.45 1.4516400 12750 517331.19 5391618.315 275.39 32.27 980898.53 0 1.46 1.4616400 12775 517314.554 5391633.721 280.725 32.88 980897.51 0 1.47 1.4716400 12800 517294.992 5391652.6 286.394 33.53 980896.42 0 1.49 1.4916400 12825 517277.558 5391669.433 287.721 33.71 980896.2 0 1.51 1.5116400 12850 517259.535 5391686.977 288.242 33.8 980896.15 0 1.55 1.5516400 12875 517239.364 5391706.027 290.11 33.94 980895.73 0 1.48 1.4816400 12900 517224.935 5391719.237 292.631 34.2 980895.22 0 1.45 1.4516400 12925 517208.512 5391735.091 296.023 34.5 980894.49 0 1.38 1.3816400 12950 517191.053 5391751.868 292.915 34.21 980895.17 0 1.43 1.4316400 12975 517170.999 5391770.054 290.168 33.73 980895.55 0 1.26 1.2616400 13000 517153.724 5391788.235 288.622 33.45 980895.77 0 1.16 1.1616400 13025 517138.963 5391801.741 290.613 33.63 980895.34 0 1.11 1.1116400 13050 517117.369 5391821.73 292.135 33.75 980895.01 0 1.06 1.0616400 13075 517103.543 5391833.115 294.797 33.94 980894.39 0 0.96 0.9616400 13100 517084.421 5391853.257 288.948 33.42 980895.69 0 1.09 1.0916400 13125 517066.698 5391869.181 289.621 33.43 980895.51 0 1.03 1.0316400 13150 517047.446 5391887.301 292.306 33.69 980894.95 0 0.99 0.9916400 13175 517030.04 5391905.623 294.205 33.83 980894.52 0 0.91 0.9116400 13200 517011.438 5391922.908 298.892 34.35 980893.6 0 0.9 0.9

/Line Stn UTMX UTMY Elev FreeAir ObsGrav ITC Bouguer Corr_Bouguer16400 13225 516996.565 5391937.114 299.9 34.49 980893.44 0 0.93 0.9316400 13250 516975.221 5391958.386 305.651 35.12 980892.32 0 0.92 0.9216400 13275 516957.023 5391975.896 308.28 35.37 980891.77 0 0.88 0.8816400 13300 516949.219 5391982.752 307.673 35.35 980891.94 0 0.92 0.9216400 13325 516925.312 5392008.761 316.65 36.16 980890.01 0 0.73 0.7316400 13350 516915.869 5392017.305 315.789 36.06 980890.17 0 0.72 0.7216400 13375 516891.36 5392041.652 305.611 35.18 980892.46 0 0.99 0.9916400 13400 516868.992 5392061.167 305.661 35.17 980892.45 0 0.97 0.9716400 13425 516851.083 5392076.194 304.855 35.07 980892.61 0 0.96 0.9616400 13450 516839.18 5392090.044 307.704 35.24 980891.91 0 0.81 0.8116400 13475 516818.364 5392109.528 301.328 34.55 980893.2 0 0.83 0.8316400 13500 516803.386 5392124.781 301.197 34.45 980893.15 0 0.74 0.7416400 13525 516785.936 5392140.604 301.216 34.47 980893.18 0 0.76 0.7616400 13550 516767.714 5392156.619 304.454 34.85 980892.58 0 0.78 0.7816400 13563 516757.708 5392166.064 304.386 34.82 980892.57 0 0.76 0.7616400 13575 516749.837 5392174.521 304.404 34.72 980892.48 0 0.66 0.6616400 13588 516741.649 5392182.304 304.439 34.63 980892.39 0 0.57 0.5716400 13600 516731.654 5392191.742 304.229 34.6 980892.43 0 0.56 0.5616400 13613 516723.969 5392197.317 304.788 34.66 980892.32 0.004 0.56 0.5616400 13625 516714.47 5392210.398 309.052 35.14 980891.5 0.014 0.56 0.5816400 13638 516706.222 5392216.05 312.482 35.46 980890.76 0.007 0.5 0.5116400 13650 516695.537 5392225.272 316.761 35.95 980889.94 0.004 0.51 0.5116400 13663 516688.272 5392231.652 318.234 36.13 980889.67 0 0.52 0.5216400 13675 516678.852 5392242.39 319.721 36.29 980889.37 0 0.51 0.5116400 13700 516661.338 5392257.428 319.816 36.3 980889.36 0 0.51 0.5116400 13725 516649.853 5392270.132 319.948 36.28 980889.32 0 0.48 0.4816400 13750 516626.368 5392291.032 322.769 36.54 980888.72 0 0.42 0.4216400 13775 516608.573 5392307.938 331.553 37.4 980886.89 0 0.3 0.316400 13800 516592.637 5392322.987 330.049 37.35 980887.32 0 0.42 0.4216400 13825 516574.294 5392339.994 330.007 37.4 980887.39 0 0.47 0.4716400 13850 516556.588 5392356.76 331.971 37.54 980886.94 0 0.4 0.416400 13875 516538.679 5392373.577 328.895 37.24 980887.6 0 0.44 0.4416400 13900 516523.585 5392389.589 324.666 36.75 980888.43 0 0.42 0.4216400 13925 516507.377 5392418.83 320.808 36.37 980889.26 0 0.47 0.4716400 13950 516503.312 5392444.015 317.374 35.99 980889.97 0 0.48 0.4816400 13975 516483.937 5392459.695 312.86 35.49 980890.87 0 0.48 0.4816400 14000 516447.073 5392470.103 308.273 34.78 980891.58 0 0.28 0.2816400 14025 516445.735 5392491.189 308.442 34.97 980891.74 0 0.46 0.4616400 14050 516413.604 5392486.387 306.787 34.85 980892.13 0 0.52 0.5216400 14075 516396.073 5392509.23 304.976 34.71 980892.56 0 0.58 0.5816400 14100 516377.218 5392528.342 304.099 34.62 980892.76 0 0.59 0.5916400 14125 516361.225 5392542.82 303.761 34.57 980892.82 0 0.58 0.5816400 14150 516342.685 5392563.386 304.625 34.68 980892.69 0 0.6 0.6

16500 12600 517523.28 5391599.282 268.748 31.28 980899.57 0 1.21 1.21 1600 m16500 12625 517506.964 5391613.76 268.851 31.39 980899.66 0 1.3 1.316500 12650 517489.742 5391635.549 269.968 31.57 980899.52 0 1.36 1.3616500 12675 517470.521 5391646.552 272.291 31.86 980899.1 0 1.39 1.3916500 12700 517450.414 5391664.474 274.844 32.17 980898.64 0 1.42 1.4216500 12725 517432.521 5391680.843 275.858 32.37 980898.54 0 1.5 1.516500 12750 517414.566 5391697.562 276.261 32.46 980898.51 0 1.54 1.5416500 12775 517394.511 5391713.022 277.553 32.64 980898.31 0 1.59 1.5916500 12800 517377.359 5391731.96 282.056 33.09 980897.38 0 1.53 1.5316500 12825 517361.026 5391746.873 283.228 33.21 980897.15 0 1.52 1.5216500 12850 517339.844 5391765.505 285.866 33.54 980896.68 0 1.55 1.5516500 12875 517321.903 5391781.214 288.303 33.78 980896.18 0 1.52 1.5216500 12900 517305.538 5391796.082 290.057 33.93 980895.81 0 1.47 1.4716500 12925 517285.648 5391814.185 291.325 33.98 980895.48 0 1.38 1.3816500 12950 517268.821 5391829.273 292.409 33.97 980895.15 0 1.25 1.2516500 12975 517250.215 5391845.793 284.138 33.02 980896.77 0 1.23 1.2316500 13000 517231.85 5391862.019 284.371 33 980896.69 0 1.18 1.1816500 13025 517216.237 5391875.758 284.619 32.92 980896.54 0 1.07 1.0716500 13050 517195.675 5391895.218 284.404 32.91 980896.61 0 1.08 1.0816500 13075 517175.767 5391913.615 286.645 33.1 980896.12 0 1.02 1.0216500 13100 517159.276 5391927.011 289.558 33.41 980895.54 0 1.01 1.0116500 13125 517139.92 5391946.588 288.465 33.22 980895.71 0 0.94 0.9416500 13150 517122.259 5391963.115 291.465 33.55 980895.13 0 0.94 0.9416500 13175 517104.887 5391978.835 292.48 33.62 980894.9 0 0.89 0.8916500 13200 517084.467 5391998.06 294.986 33.89 980894.41 0 0.88 0.8816500 13225 517069.426 5392013.037 296.486 34.02 980894.09 0 0.85 0.8516500 13250 517051.051 5392029.67 296.079 34 980894.21 0 0.87 0.8716500 13275 517031.591 5392047.75 297.494 34.19 980893.98 0 0.9 0.916500 13300 517013.282 5392064.709 299.142 34.42 980893.71 0 0.95 0.95

/Line Stn UTMX UTMY Elev FreeAir ObsGrav ITC Bouguer Corr_Bouguer16500 13325 516995.687 5392081.302 299.679 34.49 980893.63 0 0.96 0.9616500 13350 516977.601 5392098.023 299.872 34.5 980893.6 0 0.95 0.9516500 13375 516960.657 5392113 300.132 34.51 980893.54 0 0.93 0.9316500 13400 516941.318 5392131.593 299.085 34.3 980893.66 0 0.83 0.8316500 13425 516924.656 5392148.76 299.095 34.2 980893.57 0 0.73 0.7316500 13450 516904.747 5392165.56 299.087 34.21 980893.6 0 0.74 0.7416500 13475 516887.598 5392181.52 299.228 34.23 980893.59 0 0.75 0.7516500 13500 516870.365 5392198.37 300.971 34.52 980893.36 0 0.85 0.8516500 13525 516853.313 5392219.99 299.823 34.27 980893.48 0 0.72 0.7216500 13550 516833.646 5392232.055 300.48 34.3 980893.32 0 0.68 0.6816500 13563 516825.329 5392240.657 300.839 34.36 980893.27 0 0.69 0.6916500 13575 516816.311 5392248.387 301.215 34.39 980893.19 0 0.69 0.6916500 13588 516805.541 5392257.244 302.195 34.44 980892.94 0 0.62 0.6216500 13600 516799.598 5392264.733 302.808 34.42 980892.74 0 0.53 0.5316500 13613 516790.964 5392276.171 303.989 34.51 980892.47 0 0.49 0.4916500 13625 516782.788 5392283.204 306.208 34.68 980891.97 0 0.42 0.4216500 13625 516782.85 5392283.204 306.179 34.68 980891.97 0 0.41 0.4116500 13638 516772.879 5392290.506 308.063 34.82 980891.54 0.004 0.35 0.3516500 13650 516763.505 5392297.719 312.446 35.15 980890.53 0.021 0.19 0.2116500 13663 516753.374 5392308.035 321.924 36.11 980888.57 0.017 0.09 0.1116500 13675 516747.026 5392313.462 325.201 36.5 980887.95 0.013 0.11 0.1216500 13700 516730.205 5392329.655 329.189 37 980887.24 0.01 0.17 0.1816500 13725 516714.452 5392352.06 333.091 37.39 980886.44 0 0.12 0.1216500 13750 516693.496 5392363.146 335.215 37.66 980886.06 0 0.15 0.1516500 13775 516675.87 5392380.599 335.869 37.8 980886.01 0 0.22 0.2216500 13800 516657.548 5392397.184 338.729 38.07 980885.42 0 0.17 0.1716500 13825 516640.059 5392413.758 339.589 38.23 980885.33 0 0.23 0.2316500 13850 516621.543 5392430.17 340.239 38.23 980885.13 0 0.15 0.1516500 13875 516603.959 5392447.401 340.261 38.2 980885.12 0 0.13 0.1316500 13900 516590.993 5392458.857 339.973 38.03 980885.04 0.01 -0.01 016500 13925 516565.132 5392473.713 328.338 36.92 980887.54 0.015 0.18 0.216500 13950 516548.705 5392497.712 318.9 36.01 980889.56 0.006 0.33 0.3416500 13975 516530.756 5392514.6 314.627 35.56 980890.43 0 0.35 0.3516500 14000 516513.204 5392529.541 310.867 35.11 980891.16 0 0.32 0.3216500 14025 516495.428 5392545.951 308.117 34.83 980891.75 0 0.36 0.3616500 14050 516477.935 5392561.309 306.028 34.6 980892.17 0 0.35 0.3516500 14075 516456.67 5392579.946 304.047 34.41 980892.61 0 0.39 0.3916500 14100 516436.856 5392599.224 302.56 34.27 980892.94 0 0.41 0.4116500 14125 516423.219 5392612.181 301.1 34.19 980893.32 0 0.5 0.516500 14150 516403.208 5392629.223 300.281 34.15 980893.55 0 0.55 0.5516500 14175 516383.36 5392646.257 301.49 34.5 980893.53 0 0.76 0.7616500 14200 516369.551 5392661.415 301.316 34.27 980893.38 0 0.56 0.56

16600 12600 517602.698 5391660.752 267.761 31.24 980899.88 0 1.27 1.27 1650 m16600 12625 517584.856 5391677.086 268.686 31.35 980899.73 0 1.29 1.2916600 12650 517568.36 5391691.651 269.479 31.43 980899.58 0 1.28 1.2816600 12675 517547.061 5391711.027 271.252 31.65 980899.27 0 1.3 1.316600 12700 517528.931 5391726.636 273.425 31.89 980898.85 0 1.3 1.316600 12725 517509.31 5391743.123 275.708 32.17 980898.43 0 1.31 1.3116600 12750 517491.126 5391761.131 274.187 32.06 980898.81 0 1.38 1.3816600 12775 517473.316 5391777.277 273.708 32.07 980898.97 0 1.44 1.4416600 12800 517453.657 5391795.171 276.075 32.31 980898.5 0 1.41 1.4116600 12825 517435.989 5391811.693 277.279 32.42 980898.25 0 1.39 1.3916600 12850 517417.301 5391828.623 279.163 32.63 980897.9 0 1.4 1.416600 12875 517399.028 5391845.489 279.232 32.59 980897.85 0 1.35 1.3516600 12900 517379.952 5391863.091 280.142 32.59 980897.58 0 1.24 1.2416600 12925 517362.063 5391880.026 280.094 32.51 980897.53 0 1.17 1.1716600 12950 517342.374 5391897.253 278.066 32.32 980897.98 0 1.21 1.2116600 12975 517324.938 5391914.09 278.561 32.44 980897.96 0 1.27 1.2716600 13000 517309.04 5391928.684 280.957 32.6 980897.4 0 1.17 1.1716600 13025 517288.727 5391950.981 281.041 32.52 980897.31 0 1.07 1.0716600 13050 517269.862 5391963.922 281.76 32.54 980897.12 0 1.02 1.0216600 13075 517252.059 5391979.627 285.347 32.87 980896.35 0 0.94 0.9416600 13100 517236.014 5391992.512 284.604 32.76 980896.48 0 0.91 0.9116600 13125 517216.365 5392013.322 285.666 32.76 980896.17 0 0.79 0.7916600 13150 517197.002 5392032.257 288.836 33.13 980895.58 0 0.81 0.8116600 13175 517178.518 5392048.207 292.196 33.45 980894.87 0 0.76 0.7616600 13200 517159.297 5392065.721 292.08 33.44 980894.91 0 0.76 0.7616600 13225 517140.82 5392083.391 292.067 33.43 980894.92 0.004 0.74 0.7516600 13250 517125.664 5392097.085 291.605 33.36 980895 0 0.73 0.7316600 13275 517106.805 5392114.985 291.833 33.39 980894.98 0 0.74 0.7416600 13300 517088.695 5392131.941 293.624 33.66 980894.71 0 0.81 0.8116600 13325 517069.357 5392147.966 294.93 33.83 980894.49 0 0.83 0.83

/Line Stn UTMX UTMY Elev FreeAir ObsGrav ITC Bouguer Corr_Bouguer16600 13350 517050.591 5392166.401 296.382 34 980894.22 0 0.83 0.8316600 13375 517029.416 5392185.821 296.792 34.05 980894.17 0 0.84 0.8416600 13400 517014.324 5392199.773 297.726 34.12 980893.96 0 0.81 0.8116600 13425 517004.161 5392220.111 296.643 34 980894.19 0 0.81 0.8116600 13450 516976.358 5392233.955 295.744 33.89 980894.37 0 0.8 0.816600 13475 516958.751 5392250.436 296.335 33.87 980894.18 0 0.71 0.7116600 13500 516940.706 5392267.964 298.673 34.13 980893.73 0 0.71 0.7116600 13525 516923.081 5392283.629 298.444 34.1 980893.79 0 0.71 0.7116600 13550 516904.139 5392301.798 301.363 34.38 980893.18 0 0.66 0.6616600 13563 516895.394 5392310.488 303.262 34.57 980892.79 0 0.64 0.6416600 13575 516885.917 5392317.787 303.215 34.51 980892.75 0 0.58 0.5816600 13588 516877.288 5392326.939 303.249 34.53 980892.77 0 0.6 0.616600 13600 516866.751 5392335.197 303.716 34.48 980892.58 0 0.5 0.516600 13613 516858.794 5392343.793 304.592 34.51 980892.34 0 0.42 0.4216600 13625 516848.883 5392352.612 305.711 34.57 980892.06 0.008 0.36 0.3716600 13638 516842.504 5392359.681 306.93 34.65 980891.78 0.009 0.31 0.3116600 13650 516831.064 5392369.405 314.926 35.48 980890.15 0.006 0.24 0.2516600 13663 516823.66 5392376.889 316.714 35.75 980889.88 0.003 0.31 0.3216600 13675 516813.331 5392385.165 317.95 35.87 980889.61 0 0.29 0.2916600 13700 516795.589 5392401.064 322.779 36.35 980888.62 0 0.23 0.2316600 13725 516777.908 5392418.711 326.904 36.72 980887.73 0 0.14 0.1416600 13750 516759.414 5392436.239 328.068 36.87 980887.53 0 0.16 0.1616600 13775 516742.393 5392451.786 330.094 37.04 980887.09 0 0.1 0.116600 13800 516724.937 5392468.743 334.092 37.47 980886.31 0 0.09 0.0916600 13825 516706.391 5392485.208 340.411 38.06 980884.96 0 -0.03 -0.0316600 13850 516688.66 5392501.076 346.977 38.71 980883.59 0 -0.12 -0.1216600 13875 516667.328 5392502.391 348.573 38.86 980883.25 0 -0.15 -0.1516600 13900 516654.159 5392534.652 343.609 38.26 980884.21 0.007 -0.19 -0.1816600 13925 516636.026 5392553.003 338.77 37.7 980885.16 0.018 -0.21 -0.1916600 13950 516619.411 5392565.411 329.459 36.95 980887.29 0.015 0.08 0.116600 13975 516599.947 5392584.447 323.93 36.41 980888.47 0.003 0.16 0.1716600 14000 516580.493 5392601.987 320.438 36.05 980889.2 0.002 0.19 0.1916600 14025 516565.227 5392616.597 315.988 35.27 980889.81 0.007 -0.09 -0.0816600 14050 516551.125 5392636.802 306.6 34.52 980891.97 0.004 0.21 0.2216600 14075 516530.746 5392646.846 304.422 34.34 980892.47 0 0.27 0.2716600 14100 516511.209 5392666.086 302.069 34.12 980893 0 0.32 0.3216600 14125 516492.341 5392683.608 299.846 33.91 980893.49 0 0.36 0.3616600 14150 516474.199 5392698.881 298.238 33.83 980893.91 0 0.46 0.4616600 14175 516458.514 5392718.82 297.262 33.75 980894.15 0 0.48 0.4816600 14200 516435.286 5392736.145 296.822 33.76 980894.31 0 0.54 0.5416600 14225 516421.923 5392743.424 297.063 33.83 980894.31 0 0.59 0.5916600 14250 516405.297 5392774.538 299.183 34.14 980894 0 0.66 0.66

16700 12725 517571.9 5391813.521 271.199 31.66 980899.37 0 1.31 1.31 1575 m16700 12750 517554.012 5391830.182 267.939 31.32 980900.05 0 1.34 1.3416700 12775 517535.799 5391847.366 267.973 31.28 980900.01 0 1.29 1.2916700 12800 517518.303 5391864.233 269.281 31.4 980899.74 0 1.26 1.2616700 12825 517497.495 5391884.042 271.436 31.61 980899.31 0 1.24 1.2416700 12850 517482.268 5391899.047 272.481 31.72 980899.1 0 1.23 1.2316700 12875 517464.127 5391914.648 274.055 31.82 980898.73 0 1.15 1.1516700 12875 517464.136 5391914.708 274.071 31.82 980898.73 0 1.15 1.1516700 12875 517464.131 5391914.712 274.081 31.78 980898.69 0 1.12 1.1216700 12875 517464.152 5391914.702 274.063 31.8 980898.71 0 1.13 1.1316700 12900 517444.386 5391929.165 274.467 31.8 980898.6 0 1.09 1.0916700 12925 517427.332 5391949.627 278.212 32.22 980897.88 0 1.09 1.0916700 12950 517410.847 5391965.139 278.512 32.22 980897.79 0 1.05 1.0516700 12975 517390.723 5391983.851 281.142 32.49 980897.27 0 1.03 1.0316700 13000 517372.307 5391999.869 280.486 32.38 980897.37 0 0.99 0.9916700 13025 517357.085 5392016.005 281.027 32.4 980897.25 0 0.96 0.9616700 13050 517335.183 5392034.662 281.501 32.44 980897.16 0 0.95 0.9516700 13075 517318.531 5392051.079 282.92 32.56 980896.84 0 0.9 0.916700 13100 517300.396 5392068.303 283.09 32.51 980896.76 0 0.83 0.8316700 13125 517282.298 5392085.293 287.44 32.86 980895.78 0 0.69 0.6916700 13150 517264.504 5392101.478 287.848 32.93 980895.74 0 0.72 0.7216700 13175 517249.37 5392116.448 287.356 32.82 980895.79 0 0.66 0.6616700 13200 517227.686 5392135.518 285.913 32.64 980896.08 0 0.65 0.6516700 13225 517209.447 5392152.726 285.702 32.58 980896.09 0 0.61 0.6116700 13250 517189.864 5392170.32 285.952 32.62 980896.07 0 0.62 0.6216700 13275 517171.855 5392187.275 286.286 32.61 980895.97 0 0.58 0.5816700 13300 517155.301 5392202.409 287.263 32.75 980895.82 0 0.61 0.6116700 13325 517136.25 5392219.985 290.196 33.09 980895.27 0 0.62 0.6216700 13350 517117.986 5392237.104 293.065 33.5 980894.81 0 0.71 0.7116700 13375 517099.531 5392254.413 294.476 33.59 980894.47 0 0.64 0.64

/Line Stn UTMX UTMY Elev FreeAir ObsGrav ITC Bouguer Corr_Bouguer16700 13400 517081.161 5392271.386 292.969 33.45 980894.81 0 0.66 0.6616700 13425 517062.511 5392289.151 291.044 33.19 980895.17 0 0.63 0.6316700 13450 517042.655 5392306.128 291.151 33.15 980895.1 0 0.57 0.5716700 13475 517025.462 5392323.83 291.657 33.19 980895 0 0.55 0.5516700 13500 517007.275 5392340.877 294.487 33.47 980894.42 0 0.52 0.5216700 13525 516989.468 5392356.546 297.246 33.76 980893.88 0 0.5 0.516700 13550 516971.214 5392373.543 300.364 34.08 980893.25 0 0.47 0.4716700 13563 516961.793 5392382.721 302.451 34.32 980892.85 0 0.48 0.4816700 13575 516954.75 5392390.789 302.804 34.35 980892.78 0 0.47 0.4716700 13588 516944.227 5392400.125 300.567 34.1 980893.23 0 0.47 0.4716700 13600 516935.212 5392408.294 300.53 34.03 980893.17 0 0.4 0.416700 13613 516926.056 5392417.574 300.713 34 980893.09 0 0.35 0.3516700 13625 516915.201 5392427.506 301.762 34.06 980892.83 0 0.29 0.2916700 13638 516906.987 5392434.952 302.838 34.12 980892.57 0 0.24 0.2416700 13650 516899.388 5392441.358 305.299 34.33 980892.03 0.006 0.17 0.1816700 13663 516888.866 5392451.396 313.419 35.21 980890.41 0.014 0.14 0.1516700 13675 516881.424 5392457.737 316.084 35.54 980889.92 0.006 0.17 0.1816700 13700 516863.478 5392473.545 316.365 35.64 980889.95 0 0.24 0.2416700 13725 516845.036 5392492.268 317.382 35.65 980889.66 0 0.13 0.1316700 13750 516827.342 5392508.833 320.309 35.9 980889.02 0.004 0.06 0.0616700 13775 516807.46 5392527.432 329.542 36.73 980887.01 0.021 -0.15 -0.1316700 13800 516795.216 5392540.435 336.982 37.37 980885.37 0.031 -0.34 -0.3116700 13825 516776.779 5392555.209 350.606 38.61 980882.42 0.017 -0.62 -0.616700 13850 516761.197 5392571.936 348.588 38.71 980883.15 0 -0.3 -0.316700 13875 516745.438 5392586.807 353.835 39.05 980881.89 0 -0.54 -0.5416700 13900 516724.461 5392608.004 353.94 39.08 980881.9 0 -0.53 -0.5316700 13925 516706.233 5392625.197 346.69 38.36 980883.43 0 -0.44 -0.4416700 13950 516688.571 5392642.406 333.649 37.26 980886.37 0.034 -0.07 -0.0416700 13975 516674.246 5392656.127 325.624 36.41 980888.01 0.013 -0.03 -0.0216700 14000 516656.705 5392672.041 320.054 35.9 980889.23 0.002 0.09 0.0916700 14025 516633.96 5392693.378 315.63 35.61 980890.33 0 0.3 0.316700 14050 516620.033 5392709.717 310.633 34.74 980891.01 0 -0.02 -0.0216700 14075 516603.068 5392724.529 306.995 34.51 980891.92 0 0.16 0.1616700 14100 516586.376 5392742.751 303.947 34.23 980892.59 0 0.22 0.2216700 14125 516576.989 5392765.408 301.451 33.98 980893.13 0 0.25 0.2516700 14150 516550.124 5392778.088 298.32 33.68 980893.8 0 0.3 0.316700 14175 516532.351 5392794.364 296.316 33.52 980894.28 0 0.37 0.3716700 14200 516514.249 5392813.115 295.211 33.44 980894.55 0 0.41 0.4116700 14225 516495.524 5392830.67 294.606 33.44 980894.75 0 0.48 0.4816700 14250 516480.366 5392845.402 294.755 33.48 980894.76 0 0.5 0.516700 14275 516460.516 5392865.158 295.41 33.66 980894.76 0 0.61 0.6116700 14300 516441.504 5392884.068 297.81 33.86 980894.23 0 0.54 0.54

� TOTAL8900

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LOGISTICS REPORT

Mountain Lake Resources Inc. Gravity Survey

Bobby's Pond Grid, Central NL, NTS: 12A/10 Project Geologist: Gary Woods

Project # 0901-1 Ref: lr0901-1grv Introduction This field report covers the survey procedures and parameters for the detailed gravity survey carried out for Mountain Lake Resources Inc. on the Bobby's Pond Grid in Central Newfoundland. This logistics report deals with the field work portion of this contract. Survey Equipment

1 - LaCoste & Romberg model G gravity meters, Ser. # 789. 1 – Leica GPS/GLONASS 1230 Dual Frequency DGPS Base Station

2 – Leica GPS/GLONASS 1230 Dual Frequency DGPS Rovers 2 - HP Pentium laptop computers Registered users of Geosofttm geophysical software Registered users of Leica Geo-Officetm GPS software Survey Specifications - Detailed gravity survey at a station interval of 12.5 and 25 meters. - Grid line spacing of 100 m. - Gravity survey tied-in to the Canadian Gravity Standardization Network (CGSN) station # 9234-1977 located at the Stephenville airport. Value = 980917.46 mgal. Then tied in a local base station on the road to the grid at approx. 8 km. from grid. value = 980910.16, location 521018E, 5397547N - Gravity readings reduced to Bouguer mgal. values. - GPS MLBase 1 was established from a control point at the Teck Duck Pond Mine site.

The value at the mine is X = 537189.852 E, Y = 5387610.061 N, Z = 279.275 m. ( UTM NAD27, Zone 21). MLBase 1 value is 515143.356 E 5391179.91 N Ortho Hgt 321.524 m. Located about 2 meters on the south side of the road, a nail in a stump. An X on a rock on the other side of the road identifies Control Point 1. All measrements are taken in the NAD27 Zone 21 format. All heights are orthometric height, the height above mean sea level (MSL). Control Point 1 value is 515137.096 E, 5391186.030 N, Ortho Hgt. 321.541 meters.

Maximum gravity tolerance of 0.05 mgal. and elevation of +/- 5 cm./station. Survey Procedure A gravity and elevation observation were obtained at 12.5 meters on each line from 13550N to 13675N and every 25 meters on the remainder of the cut lines spaced every 100 meters. All the gravity data has been calculated or reduced to Bouguer mgal. values. These calculations correct for the following parameters (1) elevation, free- air correction, instrument height; (2) latitude correction; (3) tide correction on a daily basis; (4) instrument drift; and, if required (5) terrain corrections. In order to verify the accuracy of these corrections, 1.5 to 2% of the readings were observed again as random repeat readings. This contract specifies repeat readings to be no greater than 0.05 mgal. For this contract, the gravity is tied-in to the National Gravity Network or the Canadian Gravity Standardization Network (CGSN) station at the Stephenville airport.

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Stephenville airport base station: # 9234-1977, value = 980917.46 location: 48° 32’ 46” N, 58° 33’ 52” W Gravity base station on road 8 km from grid: # 99, value = 980910.16, location 521018E, 5397547N GPS control point on road 2 km from grid: Exact position: 515143.356E, 5391179.915N, Height = 321.524m. MSL. Personnel Eldon Norman and Alfred Sheppard Operator Journal: Project # 0901-1 May 25 to 31, 2009 and on June 26, 2009. Monday, May 25, 2009 Day 1: 0.5 Travel: Left very early this morning and drove to Millertown where we meet with Gary Rowsell. We drove in and located the gravity base station and took a base reading then drove further in and found the GPS monument and setup GPS base on it. 0.5 Operating: Read 30 stations plus 1 repeat. Read L 16700E from 12850 N to 12725N and L16600 from 12600N to 13150N. Read GPS on same points as gravity. Everything went very well today. Tuesday, May 26, 2009 Day 2: Operating: Read 55 stations plus 1 repeat. Read L16600E from 13150N to 13875N and L16700E from 13925N to 13550N. Read GPS on same points as gravity but we had trouble getting satellite signal due to tall trees closely spaced and heavy winds so we had to skip the ends of the lines. After we read station 13550N on L 16700E, we lost radio link with the base station so we walked out and drove to the base only to discover an animal was after knocking the power with of the battery and leaned up against the GPS. This is very unusual. Wednesday, May 27, 2009 Day 3: Operating: Read 80 stations plus 1 repeat. Read L16700E from 12900N to 13550N and 13925N to 14300N, L16600E from 14250N to 13875N, and L16500E from 14200N to 13625N. Found a chaining error on L16700E. Read GPS on same points as gravity. Post-processed 18 stations, all but two stations processed, L16700E 13975N and L16500E 13925N. Thursday, May 28, 2009 Day 4: Operating: Read 91 stations plus 1 repeat. Read L16500E from 13625N to 12600N and L16400E from 12650N to 13675N. Read GPS on same points as gravity. Friday, May 29, 2009 Day 5: Operating: Read 103 stations plus 1 repeat. Read L16400E from 13675N to 14150N, L16300E from 14100N to 12750N and L16200E from 12850N to 136450N. Found a chaining error on L16300E. Read GPS on same points as gravity. Post-processed 6 stations.

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Saturday, May 30, 2009 Day 6: Operating: Read 31 stations plus 1 repeat. Read L16200E from 13450N to 14050N. Re-read some points on other lines. Found a chaining error on L16200E. Chaining errors caused re-processing of previous day work. Read GPS on same points as gravity and post-processed 3 stations. Sunday, May 31, 2009 Day 7: Travel: Packed up equipment and drove home. Friday, June 26, 2009 Day 8: Operating: Re-read 40 readings. Re-read L16400E from 13300N to 14150N

with gravity and GPS. Post-processed 1 station. We brought in the laptop and calculated the GPS in the field to check data integrity. Everything processed well so we packed up equipment again and drove home.

PROJECT SUMMARY 1.5 - Travel days 6.5 - Operating days 0.0 - Non Operating day 0.0 - Bad Weather days 8.0 - Total days May 25 to 31, 2009 and June 26, 2009 Gravity Points to date: 390 + 6 repeats DGPS Points to date: 390 + 6 repeats For additional information, please contact the following: Brian d’Entremont Bennett d’Eon Eastern Geophysics Limited Eastern Geophysics Limited 819, Hwy. 335, West Pubnico, NS B0W 3S0 33 Pratt Street, Corner Brook, NL Phone: (902) 762-3037 Phone: (709) 634-8512 Fax: (902) 762-3434 Fax: (709) 634-8515

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GRAVITY INTERPRETATION I have taken a quick look at the gravity data. Things look OK with the exception of a couple of points on line 16400. I have talked with Brian and since these stations were repeated. The source or issue appears to be the Z-component or elevation, I would hypothesize a drumlin or gravel mound (cf. stn 13350 on L16400) since these data were checked twice. I am not sure of the physiography of the site, perhaps you can comment. I don’t see a "dramatic" topo effect, perhaps this is litho? This would be supported by the trend-enhanced data (trn1, trn2 and trn3). Here, there appears to be 2 or 3 litho packages trending NE-SW. To be sure on the topo issue I have asked Brian to re-reduce with a 2.72 to check the topo correlation. This may take a bit of time on his part as Bennett is in the field but the data for the target area is reasonable to proceed with this review. I am attaching a MI workspace with the processed data and some brief prelim interps. The following discussion refers to MI table names etc. With regards to enhancement and interpretation, I have processed the total field data (TFG) into the trend enhanced (trn) and derivative (drv1) grids and contour plots. I would note that I have used both 25 m and 12.5 m grid cells in the first pass. 25 m is the correct choice due to the line spacing; however, since you used 12.5 m stations this detail would be lost with 25 m cells. The final processed data in this workspace used 12.5 m cells and I crosschecked for artifacts. In the case of survey planning the line spacing should be no more than 4 times the station spacing. As noted above there appears to be 2 or 3 NE-SW litho packages (cf. BPinterp_regions.tab). Based on the polarity of individual anomalies I would also interpret a sub-parallel fold axis (axes) or regional structural fabric. The detailed section of the survey appears to be underlain by sub-vertical units with somewhat inconsistent dips (base on gravity profile interpretation). If the contact between the second gravity unit (i.e. the first low counting from the NW to the SE) and the third gravity unit (i.e. the second gravity high counting from the NW to the SE) is structural it would appear that the contact/structure is also sub-vertical to slightly SE dipping. The NE-SW trending litho appear to be offset by ENE-trending structures. The apparent offset being a function of the dip of the contact between units and the individual structures. In terms of potential targets related to massive sulphide mineralization associated with VMS- style deposits and a simple plate or dyke model, there are 4 items of interest with respect to the areas covered by the detailed stations (or nearby). These targets are highlighted in the MI interp table. Three are sub-parallel to the regional trend and occur at or near the boundary between the second gravity unit mentioned above and the third gravity unit mentioned above. The strongest anomaly occurs in the gravity high at the contact and could be related to a narrow SE-dipping (?) mineralized zone.

46

The fourth anomaly is a subtle feature in the gravity low an it is associated with one of the ENE-trending structures. Since it appears that the structures are late and post-date the mineralization, this feature may have some significance based on other information. I think the enhanced images should provide you with some good information in context of the other information for the area. There could be more tweaking based on other information but you can use these images for your own interpretation. I would note that gravity surveys should be particularly useful for these types of targets and combined with mag could be modeled on a line-by-line basis (here a detailed station spacing is more appropriate) to greatly reduce the ambiguity in interpretations. A small suite of physical property samples (e.g., SG and magnetic susceptibility data) would greatly facilitate the interpretation of such data, especially if there is a till variation issue in the area.