current jorc resource

Bundy here is the resource as at November 09


GOLD RESOURCE

Deposit Tonnes G/T Au Oz Jorc category

Juno 1,101,300 18.68 661,488 Indicated*
Juno 501,850 10.68 172,340 Inferred
M10 1,117,000 6.57 235,971 Inferred

R/Sun 14,250 8.75 4,009 Indicated
R/Sun 79,500 8 20,450 Inferred
Weabers 19,350 18.36 11,414 Inferred
NoblesN 47,400 3.1 4,725 Indicated

NobWest 141,350 3.32 15,089 Inferred
NoblesN 121,000 9.77 38,012 Inferred

TOTAL 3,143,000t 11.51g/t 1,163,498 Oz

There are also further Inferred JORC Oz from the gold/copper resources at Juno,Nob West and Nobles Nob that bring the total to 3,604,900t @ 10.16g/t = 1,177,637 Oz Gold

NB; THIS DOES NOT INCLUDE NM4, TAILS OR AREA UP-DIP OF JUNO

* denotes the part of the resource that is subject to a downgrade.

Sourced from the investor presentation in November 09.


In summary, for the benefit of Bundy and others;

The portion of the resource that will be subject to a 'significant downgrade' is Juno Indicated 661,488 Oz. This area of the resource is where historical mining took place and it appears in light of recent drilling that historical mining was more significant than was reflected in the database held by EXM and supplied by Newmont.
The downgrade relates ONLY to this part of the resource.

How big is significant ?
Lets say 60%, thats a reduction of the Indicated Juno resource of 396,868 Oz leaving an Juno indicated resource of 264,620 Oz and a TOTAL JORC RESOURCE of 786,769 Oz Gold
PLUS a copper resource
PLUS NM4
PLUS Tails
PLUS Up-Dip Juno
PLUS Juno extensions (as per latest drilling)

AND a raft of open exploration targets both in the 'shallows' and at Depth (M10 etc)