National Instrument 43-101, standards of Disclosure for Mineral Projects (NI 43-101)

"NI 43-101 is a rule that governs how issuers disclose scientific and technical information about mineral projects to the public in Canada. The disclosure standards apply to oral statements as well as written documents and websites. NI 43-101 does not apply to disclosure concerning petroleum, natural gas, bituminous sands or shales, groundwater, or coal be methane. NI 43-101 first came into force on Feb. 1, 2001 and was revised in December 30, 2005. As a “National Instrument”, the law has been passed in each provincial and territorial legislature across Canada.“PART 1 DEFINITIONS AND INTERPRETATION 1.1 Definitions - In this Instrument “adjacent property” means a property(a) in which the issuer does not have an interest;(b) that has a boundary reasonablyproximate to the propertybeing reported on; and (c) that has geological characteristics similar to those of the property being reported on; “data verification” means the process of confirming that data has been generated withproper procedures, has been accurately transcribed from the original source and is suitable to be used; “development property” means a property that is being prepared for mineral production and for which economic viability has been demonstrated by a feasibility study; “disclosure” means any oralstatement orwritten disclosure made by oron behalf of an issuer and intended to be, orreasonablylikely to be, made available to the public in a jurisdiction of Canada, whether or not filed under securitieslegislation, but does not include written disclosure that is made available to the public only by reason of having been filed with a government or agencyof government pursuant to a requirement of lawother than securities legislation; “early stage exploration property” means a property that has(a) no current mineral resources or mineral reserves defined; and (b) no drilling or trenching proposed; in a technical report being filed in a local jurisdiction; “exploration information” means geological, geophysical, geochemical, sampling, drilling, trenching, analytical testing,assaying, mineralogical, metallurgical and other similar information concerning a particular property that is derived fromactivities undertaken to locate, investigate, define or delineate a mineral prospect or mineral deposit; “feasibility study” means a comprehensive studyof a mineral deposit in which all geological, engineering, legal,operating, economic, social, environmental and other relevant factors are considered in sufficient detail that it could reasonably serve as the basis for a final decision by a financial institution to finance the development of the deposit for mineral production; “historical estimate” means an estimate of mineral resources or mineral reserves prepared prior to February 1, 2001;“IMMM Reporting Code” means the classification system and definitions of mineral resources and mineral reservesapproved by The Institution of Materials, Minerals, and Mining in the United Kingdom, as amended; “JORC Code”means the Australasian Code for Reporting of Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute ofGeoscientists and Mineral Council of Australia, as amended; “mineral project” means any exploration, development or production activity, including a royalty interest or similarinterest in these activities, in respect of diamonds, natural solid inorganic material, or natural solid fossilized organic material including base and precious metals, coal, and industrial minerals;"