RESOURCE AND MINERAL RESERVE REPORTING STANDARDS

The mineral resource and reserve reporting standards were developed primarily to provide investors and stakeholders with reliable and auditable information about mining projects. Investors need to understand the characteristics and risks associated with mining projects before making investment decisions and the mineral resource and reserve estimation standards provide essential information in this regard.In addition these standards ensure that mining companies comply with disclosure and transparency requirements. Publicly traded companies are required to submit information on their mineral resources and reserves to regulatory authorities and the Mineral Resource and Reserve Estimate Standards provide criteria and procedures for such disclosures.