Mineral Reserves and Mineral Resources
Readers are cautioned that National Instrument 43-101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resources be reported separately. Readers should refer to the updated technical report prepared by Mine Development Associates entitled “Technical Report on Golden Arrow Project Nye County, Nevada, U.S.A.” dated May 1, 2009 for detailed information on the calculation of mineral resources on the Golden Arrow Property, which is available elsewhere on this website and on SEDAR at www.sedar.com.
Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources: This website uses the terms “Indicated” and “Inferred” Resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable.