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Sunday, October 26, 2014 10:10:30 PM
Merger in Process With Kerr Mines Inc.
Important Step to Achieve Critical Mass
• Assets include producing, developing and exploration properties
• Annual gold production >100,000 oz by end of 2015
• Cash flow from 2 operating mines by 2015
• Increase in reserves and resources
Strategic Shift: Consolidator of Deep Value Assets
• Focus on optimum mining rates to match ore body geometry
• Strict grade control on all assets
• Low capital requirements
• Mining friendly jurisdictions..."
http://www.sangold.ca/i/pdf/2014-09-SGR_merger.pdf
Rice Lake Turnaround Changes Implemented Since March
• Revised Mine Plan: 50-55,000 oz gold, down from 80-85,000 oz
• Revised Mining Methods
– Increased Use of Longhole Mining
– Reintroduce Conventional Methods
• Strict Grade Control
• Reduced Operating Costs
• Reduced Capital Expenditures
• Improved Use of Working Capital
• Improved Mill Recoveries
Copperstone Mine: Fully Constructed
Processing Facility
• Consistent performance for over 12 months
• 80% to 90% recoveries with steady feed & grade
• Permitted for 450 tpd; plant capacity to 600 tpd
• Crush, grind, gravity, flotation circuit
• Oxide ore – no cyanide required for free gold in oxides
Kirkland-Larder-Timmins Properties
Two mines & large land package in world-class mining camp
• Past-producing Kerr-Addison property covers 6 km of strike, adjacent and east of McGarry Mine property
• Some underground workings from the Kerr-Addison Mine extend directly onto the McGarry Mine property
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