Mineral Deposit Report Page 1 OF 13 Geological Survey of Finland 9/29/2015 Ahmavaara Alternative names: deposit Occurence type: Commodity Rank Total Measure Total Production platinum group metal 1 186.83 t 0.00 t 186.83 t palladium 2 154.91 t 0.00 t 154.91 t nickel 2 129,561.30 t 0.00 t 129,561.30 t copper 2 328,597.50 t 0.00 t 328,597.50 t platinum 2 31.92 t 0.00 t 31.92 t gold 3 18.78 t 0.00 t 18.78 t cobalt 4 Easting EUREF: 456545 Easting YKJ: 3456700 Northing EUREF: 7331533 Northing YKJ: 7334600 Discovery year: 1986 Province: Portimo (PGE, Cr, Ni) District: 1,2,4,5,7,8,10 Reference: Mineral deposit type Group: Metallogenic deposit Main type: Ultramafic (magmatic) Sub type1: Contact-type PGE Sub type2: Comments: Evidences of extensive fluid activity resulted in Norilsk PGE-grade massive sulphides in places. References: 2 Dimension Expression: exposed Area (ha): Form: concordant Dip azim: 11 Shape: tabular Dip: 30 Length (m): 700 Plunge azim: Width (m): Thickness (m): Plunge dip: 3 Orientation method: Depth (m): 1 NA Total Resource Mineral Deposit Report Page 2 OF 13 Geological Survey of Finland 9/29/2015 Holder history Current holder: Gold Fields Arctic Platinum Oy Years: Holding type: Company Mining concession (old law) Years Holding type 2 Comments Mineral Deposit Report Page 3 OF 13 Geological Survey of Finland 9/29/2015 Exploration Activity Gold Fields Arctic Platinum Oy Years Activity type Geologist Exploration result 2003-2003 subsurface exploration Mike Botha, Juha Rissanen NA Ref 3 Arctic Platinum Partnership Ay Years Activity type Geologist Exploration result 2000-2003 2000-2003 2000-2003 2000-2003 regional geophysics subsurface exploration mining pilot detailed geophysics Mike Botha Mike Botha Mike Botha Mike Botha NA NA NA NA Years Activity type Geologist Exploration result 1986-1999 core drilling Ref 3 3 3 3 Outokumpu Oy Comments: Jarmo Lahtinen, Markku NA Iljina Core drilling (reconnaissance drilling): in 1986 12 holes, ca. 1500 m; in 1995, 6 holes, ca. 750 m. Ref 1 Intersections: HoleID: From-To: copper From-To: copper 1986-1999 detailed geophysics 1986-1999 subsurface exploration Length: 0.90 Length: 0.40 0.72 % 0.50 % Jarmo Lahtinen, Markku Iljina Jarmo Lahtinen, Markku Iljina 3 NA 1 NA 1 Mineral Deposit Report Page 4 OF 13 Geological Survey of Finland 9/29/2015 Resources and Reserves Most Recent: Type: Company: Year: Calc method: Reference: Resource North American Palladium 2006 NI 43-101 9 Ltd Category: Measured, indicated and inferred mineral Tonnage: 187.77 Mt Tonnage: 38.20 Mt Tonnage: 114.82 Mt Tonnage: 34.76 Mt resource gold 0.10 ppm copper 0.18 % palladium 0.83 ppm nickel 0.07 % platinum group metal 1.00 ppm platinum 0.17 ppm Cutoff: Category: 1.00 ppm palladium Measured mineral resource nickel 0.06 % copper 0.16 % palladium 0.71 ppm platinum 0.14 ppm gold 0.09 ppm Cutoff: Category: 1.00 ppm palladium Indicated mineral resource copper 0.18 ppm nickel 0.07 % platinum 0.18 ppm gold 0.10 ppm palladium 0.85 ppm Cutoff: Category: 1.00 ppm palladium Inferred mineral resource platinum 0.19 ppm gold 0.10 ppm nickel 0.07 ppm copper 0.17 ppm palladium 0.87 ppm Cutoff: 1.00 ppm palladium Previous calculations: Type: Company: Year: Calc method: Reference: Resource Geological Survey of 2005 NA 3 Finland 4 Mineral Deposit Report Page 5 OF 13 Geological Survey of Finland 9/29/2015 NA Category: Tonnage: nickel 0.90 % palladium 5.04 ppm copper 0.80 % gold 0.19 ppm platinum 0.69 ppm Cutoff: 1.80 Mt NA Type: Company: Year: Calc method: Reference: Resource Outokumpu Oy 1986 Non-compliant resource estimate 1 NA Category: Tonnage: nickel 1.12 % palladium 6.40 ppm copper 0.90 % gold 0.20 ppm platinum 0.87 ppm Cutoff: NA 5 1.30 Mt Mineral Deposit Report Geological Survey of Finland Page 6 OF 13 9/29/2015 Figures Structural interpretation of the Portimo Complex. Geological map of the Suhanko and Konttijärvi area. 6 Mineral Deposit Report Page 7 OF 13 Geological Survey of Finland 9/29/2015 Mining Ahmavaara Alternative names: Status: Feasibility Previous status: Test mining 2004 - 2004 Operating years: Years in production: 1 0.00 t Total ore mined: References: Total production: Product Product measure Mining activity Year 2004 Ore mined Ore processed Activity type Production open-pit mining 7 Other material Mineral Deposit Report Page 8 OF 13 Geological Survey of Finland 9/29/2015 Geology Host rock : Pyroxenite (s.s.), Amphibolite, Gabbronorite, Serpentinite Wall rock : Gabbro, Quartz diorite Serpentinite (Host rock) Rock Type: Metamorphic rock (Igneous protolith-composition-texture) Proportion: major Grain size: NA Color: NA References: 2 Comments: Olivine cumulate. Totally altered peridotite. Other Minerals: Proportion: Chlorite present Amphibole present Plagioclase present Mineral texture: Ore Minerals: Proportion: Pyrrhotite major Chalcopyrite major Pentlandite major Pyrite minor Molybdenite minor Chromite minor Magnetite minor Galena minor Sphalerite minor Hessite minor Naumannite minor Argentopentlandite present Mineral texture: Metamorphic description: Type: Regional Facies: greenschist metamorphic facies Grade: medium metamorphic grade Relation to mineralization: NA 8 Min P- Max P (kbar) Min T- Max T (°C) Mineral Deposit Report Page 9 OF 13 Geological Survey of Finland 9/29/2015 Geological age: Geological era: Paleoproterozoic (2500-1600 Ma) Max age - Min age (Ma) 2500 2000 Inferred age (Ma) Age of mineralization N Amphibolite (Host rock) Rock Type: Metamorphic rock (Unknown protolith or undefined) Proportion: major Grain size: NA Color: NA References: 2 Comments: Totally altered pyroxene cumulate. Metamorphic description: Type: Facies: Grade: Regional greenschist metamorphic facies medium metamorphic grade Relation to mineralization: NA Min P- Max P (kbar) Geological age: Geological era: Paleoproterozoic (2500-1600 Ma) Max age - Min age (Ma) 2500 2000 Inferred age (Ma) Age of mineralization N Pyroxenite (s.s.) (Host rock) Rock Type: Plutonic rock Proportion: major Grain size: NA Color: NA References: 1,2,3,6 9 Min T- Max T (°C) Mineral Deposit Report Page 10 OF 13 Geological Survey of Finland 9/29/2015 Deposit represents 'contact style' sulphide-PGE mineralization. Two principal types. (i) Comments: Disseminated pyrrhotite-chalcopyrite-pentlandite ore hosted by the marginal series lithologies. (ii) Cross-cutting massive, mainly pyrrhotite dominated sulphide veins. Other Minerals: Proportion: Chlorite present Amphibole present Plagioclase present Mineral texture: Ore Minerals: Proportion: Mineral texture: Pyrrhotite major Dissemination, Vein Chalcopyrite major Dissemination Pentlandite major Dissemination Pyrite minor Molybdenite minor Chromite minor Magnetite minor Galena minor Sphalerite minor Hessite minor Naumannite minor Argentopentlandite present Structures: Veined Metamorphic description: Type: Regional Facies: greenschist metamorphic facies Relation to Grade: medium metamorphic grade mineralization: NA Min P- Max P (kbar) Geological age: Geological era: Paleoproterozoic (2500-1600 Ma) Max age - Min age (Ma) 2500 2000 Inferred age (Ma) Age of mineralization N 10 Min T- Max T (°C) Mineral Deposit Report Page 11 OF 13 Geological Survey of Finland 9/29/2015 Gabbronorite (Host rock) Rock Type: Plutonic rock Proportion: major Grain size: NA Color: NA References: Gabbro (Wall rock) Rock Type: Plutonic rock Proportion: major Grain size: NA Color: NA References: 2 Comments: Originally plagioclase-pyroxene cumulate. Metamorphic description: Type: Regional Facies: greenschist metamorphic facies Grade: medium metamorphic grade Relation to mineralization: NA 11 Min P- Max P (kbar) Min T- Max T (°C) Mineral Deposit Report Page 12 OF 13 Geological Survey of Finland 9/29/2015 Geological age: Geological era: Max age - Min age (Ma) 2500 2000 Paleoproterozoic (2500-1600 Ma) Inferred age (Ma) Age of mineralization N Quartz diorite (Wall rock) Rock Type: Plutonic rock Proportion: minor Grain size: NA Color: NA References: 2 Comments: Archean basement complex. Metamorphic description: Type: Facies: Grade: Regional greenschist metamorphic facies medium metamorphic grade Relation to mineralization: NA Min P- Max P (kbar) Geological age: Geological era: Paleoproterozoic (2500-1600 Ma) Max age - Min age (Ma) 2500 2000 Inferred age (Ma) Age of mineralization N 12 Min T- Max T (°C) Mineral Deposit Report Geological Survey of Finland Page 13 OF 13 9/29/2015 References 1 Lahtinen, J. 1986. Ni-Cu-PGE-mineralisaation tutkimukset; arvio malmimahdollisuuksista. Ranua, Ahmavaara. Outokumpu Oy unpublished report, 001/3522/JJL/87/1. http://tupa.gtk.fi/raportti/arkisto/001_3522_jjl_87_1.pdf 2 Iljina, M. 1994. The Portimo Layered Igneous Complex - with emphasis on diverse sulphide and platinum-group element deposits. Acta Univ. Oul. A258, 1994. 3 Iljina, M. 2005. Portimo Layered Igneous Complex. in Alapieti, T. and Kärki, A. (Eds), 10th International Platinum Symposium. Field Trip Guidebook. Geological Survey of Finland, Guide 51a, 77¿100. http://tupa.gtk.fi/julkaisu/opas/op_051a.pdf 4 Iljina, M. and Lee, C. 2005. PGE deposits in the marginal series of layered intrusions. in Mungall, J. (ed.). Exploration for Platinum-Group Element deposits. Mineralogical Association of Canada, Short Course Series, vol. 34, pp 75-96. http://tupa.gtk.fi/valokuva/mineraalivara/References/16_Konttijärvi/Iljina%20and%20Lee.pdf 5 Lahtinen, J. 1995. Mineral resource estimate of the Ahmavaara nickel-copper-PGE deposit, Ranua, Northern Finland. Outokumpu Oy unpublished report, 035/3522/JJL/95. 6 Lamberg, P. ja Sotka, P. 1990. Mineraloginen tutkimus Ahmavaaran Ni-PGE-mineralisaatiosta - Suhangon kerrosintruusion reunasarjan sulfidirikkaat kerrokset. Outokumpu Oy unpublished report, 073/Ahmavaara, Ni-PGE/PPL,PMS/90. 7 Iljina, M. 2008. Day 1: The Suhanko-PGE prospect and the Portimo Layered Intrusion. in Ojala, J. and Iljina, M., (eds.) Metallogeny and tectonic evolution of the Northern Fennoscandian Shield : field trip guidebook. 33 IGC excursion No 15, August 15th ¿ 21st 2008. http://tupa.gtk.fi/valokuva/mineraalivara/References/9_Vaaralampi/No 15 Metallogeny Northern Fennoscandia.pdf 8 Lahtinen, J., 1991. Suhangon-Konttijärven kerrosintruusion sekä lähiympäristön platinaetsinnöistä. 001/3522,3524,3613/JJL/91 http://tupa.gtk.fi/valokuva/mineraalivara/References/9_Vaaralampi/001_3522_3524_3613_JJL_91.pdf 9 Puritch, E., Ewert, W., Brown, F.H., Rickard, J. and King, D., 2007. Technical report, mineral resource estimate, and preliminary economic assessment (scoping study) of the Suhanko project northern finland. For North American Palladium Ltd by Aker Kvaerner, P&E mining consultants inc., and F.H. Brown. NI-43-101 & 43-101F1 Technical Report No 135. http://tupa.gtk.fi/valokuva/mineraalivara/References/16_Konttijärvi/Purich et al 2007 Suhanko_scoping_study_311007.pdf 10 Iljina, M., Maier, W. D. & Karinen, T. 2015. PGE-(Cu-Ni) deposits of the Tornio-Näränkävaara belt of intrusions (Portimo, Penikat, and Koillismaa). In: Maier, W.D., Lahtinen, R. & O'Brien, H. (eds) Mineral deposits of Finland. Amsterdam: Elsevier, 133-164. http://tupa.gtk.fi/valokuva/mineraalivara/http://www.sciencedirect.com/science/article/pii/B978012410438900005 4 13
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