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Prophecy Platinum Corporation – Wellgreen Property – Project 50149-001 impact on making concentrate grade. Test F34 used Aero 5100 and 3477 in the final stage of the Ni cleaner circuit. Test F35 used CMC and guar with a 50:50 mix. The results were encouraging and gave the best 1 st bulk cleaner performance. This test is notable for blended CMC/guar and higher SIPX in the bulk rougher. CMC is very good at depressing talc but also tends to collapse the froth when the dosage is high. Guar is often used to depress chlorite which was identified by mineralogy as the primary gangue mineral in the high grade concentrates. Guar also has the benefit of not collapsing the froth. Test F36 was a repeat of F35 but more aggressive for recovery with more time in bulk rougher and Ni scavenger as well as CuSo4 in Ni scavenger. No bulk reground was conducted in this test with only two stages of cleaning. Copper sulphate was added after Ni regrind in this test to keep the Ni and PGE floating. Test F37 was a repeat of F36 with no CMC/guar in the roughers. This had no effect on the mass recovery in rougher/scavenger. CMC/guar was eliminated in this test and yet had no effect on the mass recovery in rougher/scavenger. Test F36 was repeated as the test F38 with no CMC/guar in the rougher stages with a re-grind before 1 st Ni cleaner stage. And finally F41 was conducted at a finer primary grind of 70 microns. Overall, the results for these tests show there is no need for CMC/guar in the rougher. The results for bulk cleaners are good however more CMC/guar might be needed in the bulk cleaners. Ni scavenger results are good and use of copper sulphate is recommended for master composite. As for the Ni cleaner, it is needed to drop copper sulphate after regrind. Also SIPX additions need to stay high for recovery presumably to float the middling Cu/Ni material and for pyrrhotite recovery which has been shown to have abundant PGE minerals associated with it. SGS Minerals Services 42
Prophecy Platinum Corporation – Wellgreen Property – Project 50149-001 Table 15: Split Flowsheet Cleaner Flotation Test Results Test Product Weight Assays, % % Distribution % Cu Ni S Cu Ni S Cu 1st Clnr Conc 0.40 29.3 0.40 30.7 40.3 0.4 5.1 F29 Cu Rougher Conc 0.62 24.3 1.20 28.2 51.6 1.82 7.29 Bulk 3rd Clnr Conc 1.40 13.6 6.61 23.8 65.6 22.7 14.0 Bulk Rougher Conc 5.49 3.86 3.45 10.0 72.9 46.5 23.1 Ni 4th Clnr Conc 0.20 7.29 9.33 28.7 5.08 4.63 2.44 Ni Scav Conc 8.68 0.36 1.23 7.69 10.8 26.1 28.0 Ni Scav Tail 85.8 0.06 0.13 1.36 16.3 27.4 48.9 Head (calc.) 0.29 0.41 2.39 Bulk 3rd Clnr Conc 1.62 14.2 4.79 22.4 75.3 19.7 14.9 F30 Bulk Rougher Conc 5.65 4.41 3.57 10.9 81.6 51.3 25.4 Ni 3rd Clnr Conc 0.44 2.64 6.08 13.2 3.80 6.79 2.40 Ni Scav Conc 7.68 0.39 1.14 9.22 9.90 22.3 29.2 Ni Scav Tail 86.7 0.03 0.12 1.27 8.52 26.5 45.4 Head (calc.) 0.31 0.39 2.43 Bulk 3rd Clnr Conc 1.19 16.4 3.70 24.4 63.8 10.8 12.3 F31 Bulk Rougher Conc 6.03 3.85 3.74 11.2 75.9 55.5 28.7 Ni 3rd Clnr Conc 0.14 4.65 6.76 30.3 2.09 2.28 1.80 Ni Scav Conc 6.32 0.34 1.00 9.70 7.12 15.51 26.0 Ni Scav Tail 86.2 0.06 0.13 1.07 16.4 27.6 39.1 Head (calc.) 0.31 0.41 2.36 Bulk 2nd Clnr Conc 3.18 9.34 7.20 24.2 79.4 47.5 23.3 F38 Bulk Rougher Conc 9.17 3.45 3.60 13.0 84.7 68.5 36.0 Ni 3rd Clnr Conc 1.36 0.69 1.50 30.0 2.50 4.2 12.3 Ni Scav Conc 11.7 0.22 0.62 13.5 6.86 15.05 47.7 Ni Scav Tail 79.2 0.04 0.10 0.68 8.48 16.45 16.3 Head (calc.) 0.37 0.48 3.30 Bulk 2nd Clnr Conc 3.20 11.2 8.26 25.8 86.6 52.0 24.1 F41 Bulk Rougher Conc 10.6 3.55 3.49 12.3 90.8 72.7 38.1 Ni 2nd Clnr Conc 0.61 0.91 1.66 25.9 1.35 2.00 4.64 Ni Scav Conc 7.03 0.19 0.57 11.2 3.26 7.87 22.9 Ni Scav Tail 82.4 0.03 0.12 1.62 5.98 19.44 39.0 Head (calc.) 0.41 0.51 3.43 SGS Minerals Services 43
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Report to: Wellgreen Project Prelim
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TABLE OF CONTENTS 1.0 SUMMARY .....
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14.1.8 MINERAL RESOURCE TABULATION
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26.1.2 PHASE 2 - QUILL CREEK ULTRAM
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Table 19.2 Palladium Demand and Sup
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Figure 19.3 London Metals Exchange
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litres per minute .................
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International All-North Resources L
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1.0 S UMMARY 1.1 I NTRODUCTION Tetr
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This PEA has been prepared by Tetra
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Numerous operators have worked on t
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1.6 M INING M ETHODS The Project is
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Figure 1.2 Wellgreen Project Overal
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Table 1.6 Capital Cost Summary (US$
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The following financial results wer
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Figure 1.3 illustrates that the Pro
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Figure 1.5 Project Execution Plan P
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2.0 INTRODUCTION Tetra Tech was com
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3.0 RELIANCE ON OTHER EXPERTS Tetra
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Figure 4.1 Location Map Prophecy Pl
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All work undertaken on the surface
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Figure 4.3 Wellgreen Surface Lease
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Other than those liabilities set fo
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5.3 C LIMATE The climate is alpine,
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Year Company Activities 1970 Hudson
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Year Company Activities 2008 Corona
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6.2.3 NORTHERN P LATINUM 2009 PROGR
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Figure 7.1 Regional Geology Map Pro
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Figure 7.3 Property Geology Prophec
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Longitudinal faults and/or shears a
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Figure 7.4 Wellgreen Plan View Prop
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7.2.3 NORTH ZONE The North Zone is
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Table 7.3 PGE-Bearing Minerals in t
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Gabbroid-associated Nickel, Copper,
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10.0 DRILLING 10.1 H ISTORICAL D RI
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Figure 10.1 Prophecy Platinum Drill
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Table 10.4 Prophecy Platinum 2011 D
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• The course rejects returned fro
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Figure 10.4 Core Storage Facility P
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11.0 SAMPLE PREPARATION, ANALYSES,
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12.0 DATA VERIFICATION Tetra Tech
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Table 12.2 Check Assays Prophecy Pl
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13.0 MINERAL PROCESSING AND METALLU
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An elemental analysis of typical co
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Minerals Peridotite Composite 1 Min
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Ni Deposits” shows that the grade
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13.3 SGS V ANCOUVER - J UNE 2012 A
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14.0 MINERAL RESOURCE ESTIMATES 14.
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Table 14.3 summarizes the grade cap
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The NiEq value was assigned to all
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Table 14.7 Wellgreen Variogram Summ
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Table 14.9 Estimation Criteria Zone
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Table 14.10 Search Parameters Zone
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NiEq Cut-off Tonnes NiEq (%) Ni (%)
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Figure 14.2 Wellgreen Platinum, Pal
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Figure 14.4 Wellgreen Platinum, Pal
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Figure 14.6 Wellgreen Pit Resource
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14.1.9 VALIDATION The Wellgreen mod
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Figure 14.9 East Zone Cross Section
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Figure 14.10 Wellgreen Nickel Secti
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Figure 14.14 Wellgreen Platinum Sec
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Figure 14.18 Wellgreen Cobalt Eleva
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14.2 P REVIOUS E STIMATES Table 14.
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15.0 MINERAL RESERVE ESTIMATES A mi
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The selected base case pit contains
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OVERALL O PEN P IT SLOPE ANGLE Tetr
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Table 16.4 Pit Optimization Results
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The pit optimization process includ
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16.4 P RODUCTION S CHDULE Using Pit
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Year Waste (t) Total (t) Strip Rati
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Figure 16.5 Sequence of Development
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PHASE III During Phase III, the pit
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16.5.4 EXPLOSIVES A contractor will
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Table 16.9 Pit Design Criteria Item
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Equipment Fleet Size Units Crew Bus
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Figure 17.1 Overall Wellgreen Proce
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17.2 P ROCESS D ESIGN C RITERIA The
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17.5 P ROCESS P LANT The process pl
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Figure 18.1 Wellgreen Project Overa
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ultimate impoundment surface area o
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Table 19.2 Palladium Demand and Sup
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Figure 19.3 London Metals Exchange
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Figure 19.5 Nickel Demand (2009 to
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20.0 ENVIRONMENTAL STUDIES, PERMITT
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Tailings and mill concentrate sampl
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20.2.4 AQUATIC RESOURCES The Proper
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Figure 20.2 Wildlife Ranges-Woodlan
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Figure 20.4 Wildlife Ranges-Mountai
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Figure 20.6 Wildlife Ranges-Grizzly
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Figure 20.8 Aquatic Resources Proph
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20.3.2 LICENSING The Project will b
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(Transport Canada 2010). New constr
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Table 20.1 Applicable Legislation,
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20.4 M I NE C LOSURE AND R ECLAMATI
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Umbrella Final Agreement, the White
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20.5.2 NON-ABORIGINAL COMMUNITIES T
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21.0 C APITAL AND O PERATING C OSTS
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Mine Equipment 21.2.2 SUSTAINING 20
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Table 21.7 Contingency (US$ million
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• mobilization and demobilization
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Spares • safety including safety
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21.3 O PERATING C OSTS 21.3.1 GENER
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Table 21.11 Summary of Mining Opera
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Mine Operations Position No. Annual
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22.0 ECONOMIC A NALYSIS 22.1 I NTRO
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Table 22.3 Metal Production from th
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Table 22.4 Summary of Pre-tax Finan
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22.4 M ETAL P RICE S CENARIOS The L
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Figure 22.3 IRR Sensitivity Analysi
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Figure 23.1 Adjacent Properties Pro
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Figure 24.1 Wellgreen Project Execu
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25.2 M INING Table 25.1 Wellgreen R
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Table 25.4 Process Capital Cost Sum
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Table 26.1 Wellgreen Expansion Budg
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26.2 M INING sample selection shoul
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Trade-off studies should be complet
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• develop a negotiation strategy
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METALLURGY Davis, David and Bruwer,
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Yukon Environmental and Socio-econo
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TODD MCCRACKEN, P.GEO. I, Todd McCr
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PHILIP BRIDSON, P.ENG. I, Philip Br
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APPENDIX A L IST OF C LAIMS
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District GrantNumber RegType ClaimN
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Certificate of Analysis First issue
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Hf µg/g 0.5 4 / 20 Ho µg/g 0.2 3
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assess laboratory results, users ar
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Constituent Unit Mean Table 2 - Pro
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Table 3 - Informational Values Cons
Page 266 and 267: CERTIFYING OFFICER ________________
Page 268 and 269: An Investigation into METALLURGICAL
Page 270 and 271: Prophecy Platinum Corporation - Wel
Page 280 and 281: Sample Fraction Mass Size Distribut
Page 282 and 283: Mass (% Chalcopyrite) Prophecy Plat
Page 284 and 285: Mass (% Pentlandite) Prophecy Plati
Page 286 and 287: Mass (% Pyrrhotite) Prophecy Platin
Page 290 and 291: Pyrrhotite Recovery % Prophecy Plat
Page 298 and 299: Cu Rec, % Ni Rec, % Gng Rec, % 100
Page 310 and 311: Grade (%) Cu + Ni Grade (g/t) PGE G
Page 342 and 343: Prophecy, Wellgreen samples 50149-0
Page 344 and 345: OnLine LIMS SGS Lakefield Research
Page 348 and 349: Certificate of Analysis Work Order:
Page 350 and 351: Final : VC120756 Revision REVISED O
Page 354 and 355: Final : VC120590A Revision REVISED
Page 364 and 365: SGS Minerals Services Standard Bond
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Project No.: 50149-001 Test No.: MC
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SGS Minerals Services STANDARD BOND
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SGS Minerals Services Project No. D
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Test No.: F1 Project No.: 50149-001
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Test No.: Sep-F1 Project No.: 50149
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Test: F30 Project: 11603-005 50149-
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Test: F32 Project: 11603-005 50149-
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Test: F34 Project: 11603-005 50149-
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Test: F36 Project: 11603-005 50149-
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Test: F38 Project: 11603-005 50149-
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Test No.: HNI-F1 Project No.: 50149
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Test: HNI-F3 Project: 11603-005 501
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Test: HNI-F5 Project: 11603-005 501
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Test: LCT-1 Project: 50149-001 Date
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Test: LCT-1 Overall Stability Total
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Test: LCT-2 Metallurgical Predictio
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Test: LCT-4 Project: 50149-001 Date
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Test: LCT-4 Overall Stability Total
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Prophecy Platinum Corporation - Wel
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Prophecy Platinum Corp 50149-101 MI
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Mineral Abundance (wt.%) 100 90 80
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CAVM-50149-101 MI7018-MAR12 Sample
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CAVM-50149-101 MI7018-MAR12 Sample
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erra Mineralogical Services Inc. Mi
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TerraMS-12JUL-001 Wellgreen - Pt-Pd
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APPENDIX D M INING
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LG Phase Revenue Factor (%) Mineral
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Figure 3 Overall Ultimate Pit Produ
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Table 3 Penetration and Drilling Ra
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HAULAGE General Hauling Conditions
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Year Mechanical Availability (%) Us
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