PORCUPINE

EXPLORATION

Porcupine mine controls an extensive land package within the Porcupine Camp which has produced in excess of 67 million ounces of gold.  The package contains most of the significant past-producing mines and the most highly prospective areas of the Porcupine Camp including all ten of the individual deposits that have produced over 1 million ounces of gold. With the large aland package, exciting exploration projects, excellent infrastructure and talented personnel, Porcupine is well positioned to lead the Porcupine Camp well into its’ second century of successful gold mining.

Four key areas are actively being addressed by our exploration activities, which include:

1. Hoyle Pond

An exploration program successfully added more than 1.5 million ounces of reserves since 2000 while the mine has produced over 1million ounces of gold in the same period.

2. Pamour

Drilling in 2007 aims to expand mine life and reserves in the Pamour mine area.

3. Developing Dome resources into mineable reserves is successfully underway.  Production at the Dome resumed in 2006 and new work has converted additional resources into mineable reserves for 2007 and beyond. 

Pamour North Contact is another underground (and open pit) target that is being drilled to possibly grow into potentially mineable resources.

4. Developing partnerships with junior mining companies which will allow us to pursue opportunities for the future.

Exploration and project development continues to strengthen the core operating assets and identify new mining opportunities within the Timmins camp with 134,714m of diamond drilling completed in 2006.  The drilling focused on expanding reserves a the high-grade Hoyle Pond deposit and outlining additional resources. Total reserve additions from all sources more than replaced 2006 production ounces and total mineral resources have seen increases from Hollinger, Brulan and Parmour.