Annual Report - Prospectors and Developers Association of Canada

CONTENTS2 Message from thePresident3 Message from theExecutive Director4 PDAC timeline6 Strategic plan8 Refreshing thePDAC brand10 PDAC Convention16 Highlights fromthe past year20 S-IMEW 201222 Mining Matters26 Geosciencetechnology28 Aboriginal affairs30 e3 Plus32 Awards36 IFRS38 Membershipstatistics40 PDAC board ofdirectors & staff

PDAC timeline1992 For the first timeever, the convention isopened to the world andattracts a total 2,300delegates, 37 of whichare from other countries.2000 The convention istransformed for one yearinto the 2000 MiningMillenium—a joint venturebetween the PDAC and CIM.2003 The PDAC introducese3 EnvironmentalExcellence in Exploration,a field-proven guide ofmethods for explorationactivities, communityengagement andenvironmental practices.1972 A record 2,830registered delegates attendthe convention, along with350 students.1975 Under the leadershipof President James Walkerand Vice-PresidentEd Thompson, regulardirector meetings areschedule on the secondTuesday of every month.1977 The PDA’s campaignto get a 100% flow-throughshare write-off is passedinto law and remains effectivefor the next two years.1978 The annual awardsare introduced with the firstbeing the Bill Dennis Prospectorof the Year Award.1983 PDA PresidentJohn Hansuld and hiscompany CanamaxResources Inc. organize thefirst issuing of flow-throughshares. Between 1984 and1990, $3.75 billion wouldbe raised through flowthroughshare financing.1987 Tony Andrews ishired as Managing Directorand the association’sname is once againchanged, this time to theProspectors & DevelopersAssociation of Canada.1994 The association’sfirst strategic plan isundertaken.1997 The conventionmoves from the RoyalYork Hotel to the MetroToronto Convention Centre.Mining Matters, a charityaffiliated with the PDACthat educates studentsabout rocks, metals,minerals and miningis established.2006 The conventionattracts 14,500 attendeesfrom 100 countries and isnow without question thelargest internationalshowcase for explorationand mining in the world.The Aboriginal Program islaunched at convention.The PDAC Conventionmoves to the SouthBuilding of the MetroToronto Convention Centre.2007 The PDAC celebratesits 75th anniversary, theStudent Industry MineralWorkshop (S-IMEW) islaunched in Sudbury,Ontario, and the SkookumJim Award for Aboriginalachievement in the mineralindustry is introduced.2008 PDAC PresidentPatricia Dillon andAssembly of First NationsNational Chief Phil Fontainesign a Memorandum ofUnderstanding (MOU) thatlays the foundation forcooperation between thetwo organizations. ThePDAC also moves its officeto 135 King Street East.2010 PDAC plays a majorrole in defeating Bill C-300.2011 Ross Gallinger ishired as Executive Director.1998 The PDAC takes partin the Mining StandardsTask Force and the subsequentrevision of NationalInstrument 43-101.2009 The PDAC expandse3 to e3 Plus, a set ofeight principles and threetoolkits that explorationand mining companiescan use to heighten theirsocial responsibility,environmental stewardship,and health and safety.2012 A record-breakingnumber of attendees(30,369) attend the conventionfrom 125 countries.The association developsa new strategic plan, andembarks on a rebrandingprocess, which includes thecreation of a new logo.70s 80s 90s 00s 10sAnnual Report 20125

strategic planA new visionfor the futureAt the start of 2011, the PDAC’s board of directorsembarked on a process to develop a strategicplan for the association that would furtherenhance our ability to protect and promote theinterests of our members for the next decadeand beyond. The goal wasn’t to simply deliver anew strategy going forward, but to create a newimperative for the organization that emphasizesour position as the leading voice for the mineralexploration community—both in Canada andaround the world.With that in mind, the board of directors,under the leadership of President Glenn Nolan,took part in two facilitated planning sessionsthat generated a holistic dialogue on the majorthemes and issues facing our members. “As partof these sessions, it was very important that weput all of the issues on the table,” says Nolan.“This is a highly dynamic and complex industrythat covers a lot of areas—from permitting andland access issues, to capital access and taxationmatters, to environmental and social responsibility,and of course building stronger partnershipswith Aboriginal communities.”Through a well-designed process thatincluded several workshops, interviews withstakeholders and in-person gatherings, boardand staff members worked in unison to prioritizeissues based on the broadest impact on thesector. “We know that our association can onlyeffectively manage so many things, so we hadto carefully pick those which had the mostsignificant impact,” adds Nolan. To cover everyissue impacting the industry, both currently andgoing forward, numerous hours were spentdiscussing and evaluating each issue, thenprioritizing and examining the breadth of eachissue and its implications.The PDAC board of directors also reliedon member feedback to gather as manyperspectives as possible to feed the dialogue.“We distributed a member survey in 2012 thatexamined a range of views about who we areand what is expected from us as an association,”says PDAC Executive Director, Ross Gallinger.“In the end, 1,000 respondents participated inthe survey, each offering rich insights that werean invaluable resource in helping the boardduring their deliberations.”6 Prospectors & Developers Association of Canada

“ This is a highly dynamic and complex industry thatcovers a lot of areas—from permitting and land accessissues, to capital access and taxation matters, to environmentaland social responsibility, and of course buildingstronger partnerships with Aboriginal communities.”— Glenn Nolan, PDAC PresidentWorking with facilitators and staff, the boardnarrowed in on three major business imperatives—accessto capital, access to land, andAboriginal affairs—that were deemed paramountto the success of our members and the sector.“Access to capital is without question a verytimely issue these days, one that includes thesecurities regime and tax measures that go along way in providing stability for the sectorin the long term” says Nolan. “Access to landgoes without saying. Without that access,our members simply can’t work. We’ve donea lot of work in this area and we feel we needto strengthen our efforts here. And buildingstronger relationships with Aboriginal communitiesand helping to provide the necessary toolsand support they need to benefit from projectsremains a top priority.”While the sessions with the board determinedthree primary focus areas for the organization,significant resources will also be allocated tobuilding and expanding other key areas, suchas the CSR program, student initiatives,communications and public affairs, and of courseheightening our ability to host the worldrenownedPDAC Convention. With the directionset by the board, staff and our volunteers,the PDAC is now in the process of developingspecific roadmaps that will highlight the short,medium and long term goals over the life of thestrategic plan.“This is a very exciting time for the PDAC.We’re in a period of renewal; almost a rebirth ina lot of ways,” says Nolan. “I’m very proud of thisnew strategy and I am confident it will honourthe good work done previously while providingthe basis for a series of new initiatives that willsupport and benefit the membership of the PDACwell into the 21st century.”— By Steve VirtueAnnual Report 20127

How do youchange the brandof an 80-year-oldorganizationwith a sterlinginternationalreputation?Carefully, andwith respect.8 Prospectors & Developers Association of Canada

Refreshing the PDAC BrandThere have been, and will continue to be,significant technological, social, financial andenvironmental changes within the mineralexploration and development industry. From acommunications perspective, this means that thePDAC must be very clear and compelling aboutwhat we do, who we do it for, and what value webring to all of our audiences.Our brand, expressed through the many ways wecommunicate—our convention, our programs, ourprint and online materials, our public and governmentrelations initiatives, our visual identity—ishow we tell our story and bring it to life.In 2011, the leadership of the PDAC decidedthat in light of changes in our environment it wasan opportune time to review our brand. Theyknew that such a review, and any subsequentchanges that came from it, had to be donethoughtfully and with input from a variety ofstakeholders.We used an array of different methodologies toreach out to stakeholders in a research processthat spanned four months. We talked to industryleaders, representatives of NGOs and government,as well as members of the media. Weconducted an online survey that gathered inputfrom over 1,000 members, and hosted two workshopsin which participants had the opportunityto creatively set the direction for our brand. Akey input to the brand review was the board ofdirectors’ strategic planning initiative. It wasdecided that the PDAC brand must align withour strategic direction for it was a necessary wayof achieving the opportunities and objectivesoutlined in the plan.We found that perceptions about the role andimportance of the PDAC are changing. Althoughmany people associate the PDAC with ourworld-famous convention, the growth andsuccess of our programs and advocacy work hassolidified the PDAC’s status as the face of themineral exploration industry in Canada.PDAC relied on brand strategist Lee Jacobson,who led the research and investigation phases ofthe process. “The research highlighted thecritical importance of providing fact-basedinformation about the mineral explorationindustry,” says Jacobson. “Interviews quicklydrew conclusions about the sector’s economicimpact on the countries and communitieswhere we operate, along with its response tochallenges, government officials and politicians,the media, as well as the general public.”When the feedback from the research activitieswas compiled and the information distilled andstudied, five main characteristics emerged aboutwhat we do and who we are as an association:• We are passionate about what we do;• We are professionals in a science andtechnology-based industry;• We are stewards of resources andcommunities;• We are bold and optimistic;• We embrace challenges and change.In having a clear understanding of who we are,the designers at Hambly & Woolley, a Torontobaseddesign firm that was involved in all stagesof the process, were given the task of fusingtogether our findings with their creative insights.“A successful logo requires two importantingredients: it needs to be simple and meaningful,”says Bob Hambly, Creative Director atHambly & Woolley. “From the research it becamevery clear that this organization is bold andembraces change, and we wanted that optimismto be reflected in this new logo.”After producing a wide selection of variouslogos, they submitted 10 to the PDAC for areview. That list was then trimmed to two, and afinal mark was chosen internally by the PDACleadership team. The final logo reflected thefollowing attributes:• Multi-faceted: Like our association it representsthe breadth and depth of our programs,initiatives and membership;• Dimensional: It references the topography,geology and geography of what we do andwhere we do it;• Flexible: Its application and components canbe used separately or as a whole (i.e., individualsand communities);• Modern: Focused, bold and forward in itsexpression.With the last colour changes made to the logoonce the design was in place, it was broughtto the board of directors meeting on December14, 2012, to receive approval. The logo was thelast agenda item on the list and introduced via avideo presentation that showcased the strengthsof the industry, our role as an association, andthe branding process itself. When the video wascompleted and the logo unveiled, the room brokeinto a loud applause. The various past Presidentsand board members asked insightful questions,probed about the design’s meaning, and laudedits relevance. Shortly after, a motion was passedto approve the new logo, and the PDAC’s newidentity came into existence—an identity thatwill proudly reflect the association’s status as thepremier voice of Canada’s mineral explorationcommunity for many years to come.Annual Report 20129

PDAC 2012CONVENTION STATISTICSGeneral InformationTotal number ofconvention attendees: 30,369Percentage of internationalattendees: 25Outside Canada the largestnumber of attendees camefrom: United States ofAmerica, Australia, EnglandPeru, ChinaNumber of countriesrepresented: 125Where theworld’sMineralIndustrymeetsPDACconventionNumber of studentdelegates: 1,694Number of accreditedmedia: 363Number of sponsors: 68Trade ShowTotal number of booths: 668Total number ofexhibitingorganizations: 412Number of governmentsexhibiting (provincial,federal, international): 63Core ShackTotal number ofexhibiting companies: 60Investors ExchangeTotal number of booths: 613Total number ofexhibitingorganizations: 582Presentations and WorkshopsTotal number ofTechnical Sessions: 16Total number of ShortCourses and Workshops: 12Total number ofPresentation Rooms: 19Total number of CorporatePresentation Forum forInvestors presentations: 132Total number of InnovationForum presentationsorganized by CAMESE : 23Mobi StatsTotal visits tothe site: 10,030Number of countriesvisitors were from: 45Total pageviews: 67,253Pages viewed per visit: 6.71Average time spent onthe site: 4 min 36 s10 Prospectors & Developers Association of Canada

PDAC ConventionAsk any delegate why they attend the PDAC InternationalConvention, Trade Show & Investors Exchange and chances arethey will point to the numerous opportunities available to networkwith global leaders from the mineral exploration industry. It’s alsoone of the main reasons why overall attendance at the conventionhas steadily increased with each passing year.In 2012, more than 30,000 delegates attended the four-dayevent (compared to 27,700 in 2011), making it the largestPDAC Convention ever. And of that total number, approximately7,000 were international representatives from 125 countries.An impressive statistic when you consider that the conventionattracted a grand total of 2,300 delegates in 1992—the firstyear it was opened to the world—with a mere 37 delegates onhand from 10 countries.Nicole Sampson, PDAC’s Convention Director, says that growthin the convention’s international presence—especially from LatinAmerica, China and India—has resulted in a greater number ofglobal-minded programs and services being offered during theevent. Evidence of this can be found in the record number of presentationsgiven by various governments at PDAC 2012 on topicsranging from global investment opportunities, to new discoveriesand development, and insights on communication strategies.And to assist international delegations in getting the mostout of their convention experience, Sampson and her team oforganizers continue to keep track of international groups in orderto invite key members to private events where they can networkwith global counterparts.“Because it can also be difficult for some international delegatesto obtain visas to attend the convention, the PDAC offers an onlineform to request an international invitation letter,” says Sampson.She adds that the mobile application Mobi, which was launchedlast year at convention, is furthering the convention experience byenabling participants to download everything from programschedules to exhibits and technical sessions.“Delegates are constantly on their smartphones, so we figuredsuch an app would improve their experience by making it moreconvenient than searching through the printed conventionprogram,” she adds. And if someone needs help using the app,Mobi Masters are on site at the convention to lend a hand.Because he views it as the premier world convention for theindustry, Ian Sutherland, Coordinator of the Australia Pavilion,hasn’t missed the event since 1998. In fact, Australia’s national andstate governments have been promoting the country as a prospectiveand reliable site for exploration and mining investment formore than a decade.“There are deals being made constantly at theconvention,” says Sampson. “I frequently seepeople rolling maps out on the floor and squattingaround them to have an impromptu meetingin a hallway. It’s fun to watch and we’ve addedmore venues for people to actually sit and meet.These meetings can happen in a comfortablelounge setting or in a private meeting space thatcan be booked for one-hour blocks.”The extra meeting space may prove useful forthe Finnish delegation. Dr. Pekka A. Nurmi, whohas headed the Finnish entourage for nearlytwo decades, believes that in addition to theconvention being a great venue for forging andstrengthening international contacts, it alsoserves as a practical way for the managementheads of Finnish companies to meet annually.“There is currently a mining boom in Finland.In the past, many of the companies with explorationor mining projects [in Finland] have met atPDAC Convention for the first time,” says Nurmi.“Personally, I think the event provides the bestway to update myself on global developments,new expertise and techniques.”For David Corrigan, Sales Manager at AustraliabasedIntrepid Geophysics, a company that providessoftware and related services to potential fieldgeophysics applications, showcasing the company’slatest advanced software for specialized, quantitativegeology and geophysics applications is whythe convention is so important to his business.“As the conference is held in North America itenables us to provide a face-to-face interactionwith our international customer base as well,”says Corrigan. “In conjunction with the conference,IG runs targeted workshops tailored tomeet specific customer requirements.”Delegates wanting to participate in knowledgeseminars crafted by industry experts have alwaysfound the Commodities and Market Outlook presentations(25-minute talks on the global outlookof major metals and minerals) of interest.At PDAC 2013 there will also be a session onland access challenges and solutions, another onlarge igneous provinces and metallogeny, as wellas a keynote session that will explore the risks andrewards in mining exploration and development.Whether it’s new food services or expandingthe frequency of shuttle bus routes betweenhotels and the venue, Sampson says her teamtries to add something new every year to enhancethe overall experience for each delegate.“All in all I hope delegates enjoy their time andcan take something away from the program,”says Sampson. “And of course want to come backagain next year.”— By Susan MohammadAnnual Report 201211

PDAC Conventioneconomicimpact of thePDAC ConventionWords like “mammoth” and “monster” havebeen used to describe the size of the Prospectors& Developers Association of Canada’s (PDAC)Convention, the mineral industry’s most popularnetworking and educational event.The convention’s size is impressive. Held in thesouth building of the Metro Toronto ConventionCentre (MTCC), the convention attracted 30,000delegates in 2012—a record number. No otherannual convention for mineral exploration andmining draws a crowd of this size.The convention’s attendance figures areremarkable, but it’s the story of the convention’simpact that hasn’t been told. The impact of theconvention on the local economy is one chapterof the story.A 2011 study conducted by the OntarioMinistry of Tourism estimated that the event contributednearly $72 million to the local economy.Some 27,700 people attended the conventionthat year. A rough extrapolation for 2012 puts thefigure close to $78 million.That this is no small sum is reflected in whattourism officials like David Whitaker, Presidentand CEO of Tourism Toronto, have to say aboutthe convention. “Having the PDAC chooseToronto year after year for its annual conventionis a real honour for us,” Whitaker says. “Whenmore than 30,000 people from mining andrelated industries all over the world come here toenjoy our hotels, restaurants, nightlife, entertainmentand taxis, it’s a great shot in the arm for thecity and the 227,000 people employed in tourismand hospitality here.”The convention, now in its 81st year, attractsindividuals, companies and governmentsinvolved in the mineral exploration sector fromall over the globe. What the four-day event doesfor the industry is probably the biggest chapterin the story of the convention’s impact.“The convention really is a ‘must-attend event’for large numbers of mineral industry and servicesector companies. Over the years it’s grown intothe industry’s premier event, as evidence by thefact that last year we had more than 30,000 participantsfrom 125 different countries” says PDACPresident Glenn Nolan. “No other industry eventin the world comes close to the PDAC Conventionin terms of programs offered, companies andcountries present, and overall the number ofdelegates attending.”In the early 1990s, the mineral explorationsector was booming, which provided an opportunityto take the convention international. Since12 Prospectors & Developers Association of Canada

PDAC Convention“ When more than 30,000 people from mining andrelated industries all over the world come hereto enjoy our hotels, restaurants, nightlife, entertainmentand taxis, it’s a great shot in the arm for the city.”— David Whitaker, President and CEO, Tourism Torontothen, the PDAC Convention has become theglobal networking opportunity for the industry.The PDAC’s Executive Director Ross Gallinger,who came on board in August 2011, experiencedthe convention from the inside for the first timein 2012. Having been part of the mineral explorationindustry for years and a regular conventiondelegate, Gallinger says the convention hasbecome “a massive focal point for the juniorexploration sector.”“The convention fosters information-sharingand relationship-building that impacts theindustry throughout the rest of the year,” he says.“The networking that goes on during those fourdays results in countless new relationships andideas, reinforces current partnerships and setsthe stage for a great many deals.”The PDAC 2011 Convention was the springboardfor a deal signed later in the year betweenStrait Gold and Teck Resources. Strait GoldPresident Jim Borland says his company’s signedoption agreement with Teck Resources for itsAlicia copper-gold property in Peru “originated atthe annual PDAC Convention.”At the 2011 convention, Strait Gold had coreon display from Alicia that attracted a lot ofattention. Borland says Strait Gold signedseveral confidentiality agreements after theconvention. Offers for Alicia followed, of whichTeck’s was the superior.For years the convention took place at theFairmont Royal York, moving to the MTCC in1997 as the convention continued to grow.Much of its history though is tied in with theFairmont Royal York, and evening events like theAwards Evening and the Gala Party still takeplace at the hotel.Irene Butterworth, Senior Conference Servicesand Catering Manager at the Fairmont RoyalYork, says the convention is a big part of thehotel’s history. “Legendary deals have beensecured and notable business partnerships havebeen launched within our walls—it’s just as mucha part of our history as we are of its history.”Members of the industry are also clear onhow they feel about the convention. “PDACbrings together explorers, developers andproducers for what is arguably the global miningindustry’s most important event of the year,”says Rob Krcmarov, Barrick Gold’s Senior VicePresident of Global Exploration. “Our team isalways on the hunt for promising projects, andPDAC offers up a universe of opportunities underone roof. There’s no other forum like it.”— By Carolyn FusinaAnnual Report 201213

ClockWise from top left: Mining Matters workshop; JoeOliver, Minister of Natural Resources, and PDAC ExecutiveDirector Ross Gallinger; ICMM President Tony Hodge speakingat the CEO Panel; Skookum Jim Award presentation toNuna Group Companies; core samples on display at the CoreShack; Gala Party entertainment; Canadian Governmentofficials at the e3 Plus booth; a packed house at the Student-Industry Forum; examining rock samples at the Core Shack;above the Investors Exchange floor.14 Prospectors & Developers Association of Canada

highlights fromthe pdac 2012conventionAnnual Report 201215

From growing our international profile and hostinganother record-breaking convention, the PDAC celebratedits 80th anniversary by demonstrating once again whythe association is regarded as the leading voice forthe mineral exploration and development community.Below are some of the key highlights from each of ouractive committees and program areas from the past year.PDAC high lightsfor 2012Convention• The PDAC 2012 Convention was anotherrecord-breaking event that attracted morethan 30,000 attendees from 125 countries,including more than 1,000 exhibitors that werepart of the Trade Show expansion.• The convention saw the successful launch ofthe Mobile Convention Guide (MOBI),with 10,030 visits to the site. MOBI, aneco-friendly, interactive app took the conventionexperience to a whole new level byenabling delegates to navigate everythingfrom exhibits to technical sessions.International• PDAC’s international profile was againstrengthened in 2012 with attendance andparticipation at key conferences in China,South America, Australia and South Africa.• The PDAC brand is now well recognizedinternationally, and through our variouspromotional efforts the PDAC Conventionremains the “must-attend” event on theinternational circuit.• Promoting Canada as an excellent place toinvest in mining exploration and as a centreof excellence in mining standards, knowledgeand finance continued to be one of thepriorities of the PDAC in 2012.• PDAC maintains a vibrant presence as amember and participant at InternationalCouncil on Mining and Metals (ICMM) meetingsin London, UK, where vital policy and trendsaffecting the mining industry are discussed.• PDAC Executive Director Ross Gallinger wasnamed in Embassy’s “Top 80 InfluencingCanada’s Foreign Policy.”16 Prospectors & Developers Association of Canada

highlights from the past yearMembership• The PDAC continued to see significant growthin its membership. Corporate membershipincreased 15% to 1,270 in 2012, while individualmembership increased 17% to 9,021.• Student membership increased by more than47%, the largest annual increase to date. Thiscan be attributed to the nation-wide campusand conference outreach events, social medianetworking, and S-IMEW alumni presentations.• The Core membership program, an initiativethat rewards loyal members with significantdiscounts on membership and conventionregistration fees, continued to maintain steadygrowth. To date, the PDAC has more than2,400 Core members in the association.2,400Core membersin theassociation.Health and Safety• The PDAC developed, produced and deliveredthe PDAC Field Safety Pocket Guide on waterresistant/tear-proof paper in French, Spanishand English. The guide features a variety offieldwork practices to increase awarenessand prevention around the risks, hazards anddangers inherent in exploration work.• The association successfully held PDAC FirstAid Wilderness Training sessions at six locationsacross Canada (Toronto, Thunder Bay,Sudbury, Val d’Or, Winnipeg and Yellowknife).• We continued to collaborate with theAssociation for Mineral Exploration BritishColumbia (AME BC) in producing the jointCanadian Mineral Exploration Health & SafetyAnnual Report for 2011/2012.Corporate SocialResponsibility (CSR)• The CSR committee undertook a comprehensiveupdate of the Principles and GuidanceNotes of e3 Plus: A Framework for ResponsibleExploration. As a free information resourceavailable on the PDAC website, e3 Plus wasdesigned to help exploration companiescontinuously improve their social, environmental,and health and safety practices.The Principles and Guidance Notes areavailable online and in a handy pocketsizebooklet in English, French and Spanish.• Participation in the CSR Event Series at the2012 PDAC Convention was at an all-timehigh. Attendance at all six sessions was atmaximum capacity, with between 100 and250 people from industry, government,academia, and civil society participating insessions on topics ranging from business andhuman rights to bribery and corruption.• Through the CSR Program, the PDAC partneredwith World Vision Canada and CDACollaborative Learning Projects to develop atoolkit on preventing conflict in exploration.This project brought together key industry anddevelopment stakeholders to create a practicaltool supporting exploration companies inbuilding constructive relationships withstakeholders at the community level. Thetoolkit is available on the PDAC website inEnglish, French and Spanish.Annual Report 201217

highlights from the past yearHuman Resource Development• Student attendance at the PDAC 2012Convention was at its peak with more than1,600 students. The PDAC provided travelfunding support to more than 500 students toattend the convention, which included24 Canadian student groups and fourAmerican student groups. For the first timeever, the Student-Industry NetworkingLuncheon was sold out (capped at 1,000tickets) and the Student-Industry Forum, anew event this year, was standing-room only.• The sixth annual Student-Industry MineralExploration Workshop (S-IMEW) in Sudbury,Ont., was yet another success. The workshopwould not be possible without the outstandingsupport of our loyal volunteers who return yearafter year to share their wisdom and experiencewith the future generation of our industry,as well as the financial support that we receivefrom industry that allows us to put on thisworkshop at no cost to students. Sponsorshiphas increased over the last couple years,which speaks to the increasing profile of theworkshop and recognition of the valueconferred to students.• For the first time ever, the PDAC partnered withthe Mining Industry Human Resource Council(MiHR) to host a Virtual Mineral Explorationand Mining career fair. The fair went live onFebruary 8 and 9, 2012, and was a hugesuccess, with over 1,200 careers seekersvisiting the fair over the course of the two days.The fair remained open for a week and careerseekers had the opportunity to chat withrepresentatives from companies that exhibited,and with other job seekers as well. Over1,000 jobs were applied for and 70% of thecompanies said they would hire a candidatebased on resumes received. The career fair wassponsored by Barrick Gold Corporation,IAMGOLD, SGS Canada Inc., Teck ResourcesLtd. and Vale, and featured 23 exhibitors—95%of which said they would participate again.Aboriginal Affairs• Aboriginal affairs provided a comprehensivereview and revision of the Exploration andMining Guide for Aboriginal Communities withindustry, government and Aboriginal partners.• Drafted an Engagement Protocol for FirstNations Communities, which is now in thepilot-testing phase.• Engaged in further dialogue with the Assemblyof First Nations on updating and refreshing theworkplan from the PDAC-AFN Memorandum ofUnderstanding.• Participated in information sharing, networkingand ensuring a PDAC presence at nationaland regional conferences of Aboriginalleaders, communities and organizations• Expanded the Aboriginal Program at the PDAC2012 Convention, which hosted more than 500self-identified Aboriginal delegates.Geoscience• The Geoscience committee continued toconduct research and collaborate withnumerous national and provincial geosciencesorganization, including the development of aresearch study entitled “Digital Captureof Exploration Assessment Data” on thedata reporting requirements in Canada andother jurisdictions.• Committee chair Richard Moore gave apresentation to the House of CommonsStanding Committee on Natural Resourceson the importance of government investmentin geosciences.• Members of the committee participated inmeetings with various geoscience organizations,including the Canadian MiningInnovation Council, Canadian Federation ofEarth Sciences and Geoscientists Canada.18 Prospectors & Developers Association of Canada

highlights from the past yearPDAC ExecutiveDirector RossGallinger named inEmbassy’s “Top 80Influencing Canada’sForeign Policy.”Public Affairs & communications• The Media Reception at PDAC 2012 was anenormously successful premier event thatbrought together more than 200 internationaland domestic media, industry leaders, andsome of Canada’s political elite.• The PDAC gained a positive and influentialposition this past year in both domesticand international media outlets, includingCanadian Business, the Globe and Mail,National Post, Bloomberg and the CBC. Oursocial media influence grew substantially,generating nearly 2,500 Twitter followers and600 Facebook fans, and more than 5,000 viewsof PDAC-related videos.• During the year there was an intense focus onimproving the association’s published content.Through digital and print publications, thePDAC leveraged a more sophisticated, strategicapproach to developing content to ensureimproved messaging and higher calibre content.In the upcoming year, the PDAC will release it’sfirst comprehensive Annual Report (which youare currently reading) and will be redevelopingpublications such as e-News and In Brief tofurther enhance our ability to deliver newsabout the association’s activities, and to underscorethe PDAC’s position as an industry leader.Audit• The Audit committee reviewed and approvedthe quarterly unaudited financial statementsfor issuance to the board of directors.• The committee reviewed and recommendedto the board of directors that they approve theannual audited financial statements and theauditor’s report thereon for issuance to thePDAC membership.• In addition, they reviewed and approved thecalculation of the internally restricted net assetreserves, as well as the the auditor’s audit planfor the fiscal year-end financial statements,and provided guidance to management withrespect to financial issues as needed.Finance and Taxation• The focus of the Finance and Taxation committeewas advocacy for the extension of theMineral Exploration Tax Credit (METC). Thecommittee was successful in seeing the METCextended to March 31, 2013, and the goalcontinues to be to advocate for the extension ofthe METC in an effort to make it a permanentfixture. The committee submitted briefs andresearch to support the extension of the METC.• The committee continued to work with CanadaRevenue Agency to clarify the rules of Eligibilityof the Canadian Exploration Expense,particularly around community consultationand baseline environmental expenses. Thiswork will continue throughout 2013.• The committee also examined and providedcomment on the potential impacts of theForeign Affiliate Dumping (FAD) measures, astabled in the second Budget ImplementationBill, and provided suggestions on how theymight be amended to avoid inadvertentlycatching junior exploration companies.Lands and Regulations• The PDAC 2012 Convention featured its firstland management program in over a decade,offering both a technical session on landaccess and a full-day short course. “A PracticalGuide to Land Management in Canada”brought provincial and territorial regulatorstogether to provide detailed presentations ontheir respective jurisdictions to participants.The PDAC developed a comprehensive referenceguide to early exploration regulationsacross Canada, now used as a resource documentby the Library of Parliament, ForeignAffairs Department and others.• The association provided collaborativeleadership on an unprecedented numberof regulatory changes across the countryduring the past year through written submissionsand advocacy on federal, provincial andterritorial issues of concern to the mineralexploration industry. Examples include theMackenzie Valley Resource Management Act,the Mackenzie Valley Land and Water BoardEngagement Policy, the Nunavut WatersRegulations, Bill 14 in Quebec, and the OntarioMining Act Regulations.• The PDAC has also deepened its land useplanning and land access position statementthrough written submissions and advocacyon federal land use planning initiatives, suchas the National Conservation Strategy, andthe Proposed National Woodland CaribouRecovery Strategy.Annual Report 201219

LOREM IPSUM SIT AMET CONSECETEURSThank you toall our sponsors!Patron SponsorBarrick Gold Corp.Gold SponsorsCliffs Natural Resources,Goldcorp Inc. (Porcupine Gold Mines),HudBay Minerals, Osisko Mining Corp.,Swick Drilling North America, Vale,Votorantim Metals Canada Inc.Silver SponsorsCIM, GAC (Mineral DepositsDivision), Sprott Inc., True ClaimExploration Inc.An insidelook atS-IMEW 2012Bronze SponsorsACA Howe International,Caracle Creek, Everton Resources,New Gold Inc., TMX Group, NorthernSkye Resources Ltd., Unigold Inc.Workshop SponsorsAPGO, CanAlaska Uranium Ltd.,Temex Resources Corp.In-Kind ContributorsAll Seasons Travel, Brigus Gold,C.J. Stafford & Associates, CogitoreResources Inc., DGI Geoscience Inc.,Foran Mining Corporation, Fox HighImpact Consulting, GeologicalSurvey of Canada, Geophysics GPRInternational, Grenvyn ConsultingInc., HanOcci Group Inc., JenningsCapital Inc., KGHM International,Laurentian University, OntarioGeological Survey, OntarioSecurities Commission, ProFormaAdams Promotions, Queenston MiningInc., Scintrex, Wallbridge MiningCompany Ltd., Xstrata Nickel.20 Prospectors & Developers Association of Canada

s-imew 2012This past May, 26 senior geoscience studentsfrom across Canada converged on the GreaterSudbury area for the PDAC’s annual Student-Industry Mineral Exploration Workshop(S-IMEW). The two-week gathering gave thestudents, who were handpicked from postsecondaryinstitutions across the country, anopportunity to experience the many facets of themineral exploration industry.“The event is designed to attract students tothe mineral exploration industry and to givethem a practical and business perspective ofmineral exploration not generally available in theclassroom,” says Scott Jobin-Bevans, PDACpast President and co-founder of the workshop.“This country is a world leader in mineralexploration. If we are to retain this predominantposition, we must do everything we can toencourage highly qualified young people to enterthe industry. The students attending thisworkshop are our future leaders.”Word from Sudbury is that this year’s workshopwas the best one yet. Eira Thomas, PDACDirector and co-founder of Stornoway Diamonds,kicked off the workshop with an opening keynotepresentation at Dynamic Earth that left thestudents in awe of her accomplishments andmotivated to pursue a career in geology. Onestudent commented that “it was inspiring to hearfrom a female geologist who accomplished somuch and she serves as a very powerful rolemodel for the women in the group.”During the first week of S-IMEW, studentsspent a day grid mapping at True Claim’sScadding Gold Mine site, toured the XstrataNickel smelter, spent a day learning governmentmapping with the Ontario Geological Survey(OGS), toured the Sudbury Basin, and listened toa rich lineup of speakers. During GeochemistryDay, a highlight of the two-week workshop,students set out by boat to take sedimentsamples from the bottom of Ramsey Lake andparticipated in a series of lab and outdoorgeochemistry demonstrations.S-IMEW participant Rachel Chouinard fromBrock University says the workshop helped tocrystallize her career goals. “The experience hasdefinitely showed me this is the career I want tobe in for the rest of my life,” says Rachel. “Theworkshop talks are extremely interesting, butto get outside and apply what we’re learning isinvaluable experience.”Students also had the opportunity to engagewith industry partners and academics almostevery evening with the larger events being theWelcome Reception, Grillin’ n Drillin’ BBQ andthe grand finale, the Closing Dinner.During the second week of S-IMEW, studentstook part in a four-day field trip to the AbitibiGreenstone Belt. It included a tour of theTimmins geology, a visit to Queenston Mining,Brigus Gold’s Black Fox open pit gold mine, atour of the Noranda camp in Quebec, and amapping exercise with Dr. Harold Gibson ofLaurentian University.The workshop ended with a Closing dinnerthat featured Dr. Patrick Moore, Greenpeaceco-founder and author of Confessions of aGreenpeace Dropout: the Making of a SensibleEnvironmentalist.It is difficult to truly measure the value of thisexperience as the benefits can be reaped for theduration of their career, but perhaps it can besummed up in one student’s words. “Overall,one of the best experiences of my life. This triphas been a great inspiration to pursue a careerin the mineral exploration industry and hasexposed me to so many facets of it that I neverknew about. The content was great and taughtme about things people have taken their wholelives to discover and would never have learnedin school. Thanks you so much for this opportunityand all the hard work put into making thistrip possible”.— By Krishana MichaudAnnual Report 201221

AboriginalEducationand OutreachPrograms22 Prospectors & Developers Association of Canada

mining mattersWith each passing year the demand for MiningMatters’ Aboriginal Education and Outreach programmingcontinues to grow, and 2012 was noexception. In April, Barbara Green Parker, MiningMatters’ Manager of Aboriginal Education andOutreach Programs, teamed up once again withAmanda McCallum, Outreach Geologist for theNewfoundland Department of Natural Resources,to deliver a series of student-oriented workshopsin schools on the coast of Labrador in the remoteareas as Sheshatshiu, Nain, Hopedale, Makkovik,Postville and Rigolet. As one of several key elementsof the Geological Survey’s Minerals andGeoscience Outreach program, this educationalinitiative complements the rocks and mineralscomponent of Newfoundland and Labrador’sGrade 4 and 7 curriculums.The Aboriginal Education and Outreach program’ssignature event, the Mining Rocks EarthScience Camp, was in high demand this yearwith more than 20 requests for camps during thesummer season. As time and available resourceswould allow, 12 camps were delivered to 384 participantsin 11 different communities—TadouleLake, Manitoba, Baker Lake, Nunavut, andthroughout Ontario in Attawapiskat, WunnuminLake, Round Lake, Red Lake, Lac Seul, Upsala,Cochrane, Fort Frances, Timmins and Massey.Through field visits, classroom activities andlessons, community members were given thechance to learn about a range of topics, fromEarth processes and structure, to GPS compasswork, health and safety, as well as mining operations,geochemistry and biodiversity. In addition,they learned about various career opportunitiesin the minerals and aggregates industries.Mining Matters’ commitment to broader communityengagement and outreach also allowed us toreach an additional 440 members of First Nationscommunities through Community Night eventsthat provided engaging, informative activitiesrelated to what was being taught at the camps.While the camps are often sponsored bycompanies that operate near First Nations, thecommunities themselves are increasingly takingadvantage of the unique programs and opportunitiesthat Mining Matters delivers. This year,the Sagamok First Nation community, located onthe north shore Lake Huron, sponsored a MiningMatters first: a specialized week-long schoolprogram held in September that was similar tothe summer camp programs, and that receiveda highly enthusiastic response from youth andteachers alike. Our supporters, as well as thecommunities we serve, are taking great pridein knowing that when they contribute to andengage in the programs delivered by MiningMatters they are investing in a sustainable andprosperous future for one of Canada’s mostimportant economic drivers.The Aboriginal Education and Outreachprogram moved straight from its summer programmingto planning and delivering 10 MineralExploration and Development workshopsbetween September and November. The six-hourworkshops, funded by the Ontario Ministry ofNorthern Development and Mines (MNDM),looked at the mining cycle, the importanceof mining, and its significance to Aboriginalcommunities. The workshops were deliveredin the northern Ontario First Nation communitiesof Mishkeegogamang, Cat Lake, SlateFalls, Wunnumin Lake, Nibinamik, ConstanceLake, Marten Falls, Webequie, Neskantaga andAttawapiskat. The program was complementedby an additional three-hour presentation byMNDM representatives who oversee legislationand regulations within the industry, and answerinquiries regarding specifics to the region.As Mining Matters further expands into otherdiverse communities across Canada, we arecontinually searching for ways to make our materialsand resources as relevant and accessibleas possible. One area where this is happeningis through the translation of our popular MiningMakes It Happen education posters into Cree,Ojibwe and Oji-Cree, making them more usefulto the populations we serve in communitiesacross the north whose first language or workinglanguages aren’t English or French.Mining Matters is excited about the opportunitiesthis expanded reach will bring in 2013. TheAboriginal Education and Outreach programs’top priority now is to ensure that we have thecapacity to meet the growing demand for ourprogramming. Continue to look for us across thecountry as we engage Canadians in their communities,and spread the message that MiningMatters to us all!— By Amanda HornAnnual Report 201223

Mining Matterstakes off in Quebec´Mining Matters has made great inroads acrossthe country by tailoring their earth science educationalresources to meet the needs of differentprovincial and territorial curriculum, conductingdozens of Aboriginal camps, and participating incountless public outreach events. Now, they areexpanding into Quebec and striving to meet theneeds of teachers in the province.Over the last 10 years, the Ministry ofEducation in Québec has been reforming itseducational system by moving toward a studentcentredmodel of learning that allows educatorsto integrate a variety of approaches. Theprovince’s new education model spreads earthscience objectives throughout the elementaryprogram into the secondary school years ratherthan compartmentalizing them into a singlegrade level. This means that earth science istaught at every grade level in Québec!In June 2010, Mining Matters was invited toattend the Science-Technology, Engineering andMath (STEM) Conference as an observer forsecondary school teachers from the nineAnglophone school boards and associations.There, they learned that little was available toQuébec teachers in the way of hands-on earthscience student-centred learning resources—a gap Mining Matters could potentially fill.To do so, they planned three focus groups toassess the relevance of our resources to theQuébec curriculum.24 Prospectors & Developers Association of Canada

mining mattersOver the last 10 years, the Ministry of Education in Québechas been reforming its educational system by movingtoward a student-centred model of learning that allowseducators to integrate a variety of approaches.In partnership with Minalliance, the firstcurriculum focus group was held in Montreal inJune 2010 to determine the suitability of MiningMatters resources for the Québec Education Plancurriculum. Minalliance, created in 2010, bringstogether the Québec Mineral ExplorationAssociation and the Québec Mining Association,as well as companies involved in mineral exploration,operation and services, equipment suppliers,and financial institutions. Under the direction ofClaudine Renaud, Minalliance’s ExecutiveDirector, whose mandate is to distribute clear,consistent and coordinated information to allQuébecers about activities in the mineralindustry while promoting the industry’s positivecontribution to the social, economic andenvironmental development of Québec, MiningMatters is now supporting teachers in their effortto educate students about rocks, minerals andmining in Québec.Considerable progress has so far been made inimplementating educational programs fromMining Matters for schools in Québec. Presently,the elementary resource kit “Deeper and Deeper”[Aller au fond des choses] has been translatedinto French and will be ready for distribution in2013. Through direct solicitations and QuébecMines [Des mines et des hommes] events relatedto science and education, the Mining Mattersteam is currently working to promote educationalprograms in English and French to Québecschool boards and provide teacher workshopopportunities, especially in those areas close tomining operations such as Drummondville,Rouyn Noranda, and Val d’Or. As of the endOctober, using the configuration of a new virtualvoicemail, all teachers from Québec are now ableto communicate with the Mining Matters team bycalling the phone number of Minalliance.In looking forward, and in anticipation of theelementary school students moving on to highschool, revisions and updates of the secondaryearth science teacher resource, “MiningMatters II: The Earth’s Crust” [Une mine derenseignements: L’écorce terrestre] will also beincorporated for release for the fall of 2014.— By Victoria Stratton and Janice WilliamsAnnual Report 201225

Canadianinnovation keepsthe orebodiescomingEver since the first commercial use of airborneelectromagnetics (EM) revolutionizedCanada’s mineral industry in the early 1950s,Canadian innovation has played a significantrole in advancing geoscience and finding newore deposits worldwide. And while the tendencymight be to rest on these laurels, the urgencyof declining discovery rates is spurring furtherinnovation.The airborne EM breakthrough was a naturalprogression from the conclusion of World War II,when airplanes were available at a fraction oftheir cost and several technical and aviationexperts joined the civilian workforce. The firstdiscovery credited to this technique was NewBrunswick’s Bathurst zinc-lead camp in 1953,followed by the Thompson nickel camp inManitoba some three years after. Later, airborneEM played a significant role in the unveiling ofthe Athabasca uranium camp in Saskatchewan,the copper porphyry deposits of Canada’s westcoast, the massive Kidd Creek copper-zincdeposit in Ontario, as well as others too numerousto mention.“Airborne EM really made it possible to explorelarge areas of the trackless wilderness,” saysRichard Moore, chair of the PDAC’s Geosciencecommittee. “It made a huge impact in the lasthalf of the 20th century and even continues tothis day with discoveries in the Flin Flon-SnowLake mining camp in Manitoba.”Along the way, Canadian researchers remainedat the forefront of new technology and innovation,designing the UTEM deep penetratingsystem that helped discover buried deposits inthe Sudbury nickel camp, for example, or creatingore deposit models that would guide globalexploration for volcanogenic massive sulphide(VMS) and magmatic nickel deposits.A unique willingness on the part of industry,government and academia to work together,perhaps best exemplified by the formation of TheMining Industry Technology Council of Canada(MITEC, now CAMIRO) in 1991 to addressdiminishing base metal reserves in Canada, hashelped fast-track some of these innovations.Now, as mineral discovery rates begin to nosediveworldwide, Canadian innovators are onceagain rising to the challenge. Under what may bethe largest ever collaboration between the explorationindustry, academics and government,the Canada Mining Innovation Council (CMIC)is launching a new initiative to explore ways toreverse this worrying discovery trend.“Our exploration research projects in the pasthave been narrowly focused, and the largeraspect of our declining exploration discoveries ina broader sense hasn’t really been looked at,”says Moore. The PDAC provided $50,000 in seedcapital for the CMIC initiative that was matchedby the federal government (NRCAN) andbolstered by donations from several privatesector companies.26 Prospectors & Developers Association of Canada

geoscience technology“ We’ve been asking so long for the government to provideus with more data through mapping and so on, butmaybe it’s time for industry to look at itself and not beso reluctant about providing digital data.”— Richard Moore, PDAC Geoscience committee chairCIMC’s first priority will be to make the searchfor buried targets more effective by buildingfootprint models of mineral deposits andvectoring from their most distal margins to theireconomic cores. The research will focus on definingfeatures in rocks and derivative materialsthat characterize the footprint, then using thesefeatures to devise practical exploration modelsand vectors.The five-year, $10.5 million footprints projectproposal has been submitted to NSERC forapproval for commencement after March 2013.It will involve 16 Canadian universities,22 university researchers, more than 34 graduatestudents and post-doctoral fellows and, so far,funding commitments from 24 mining andservice provider companies, according to AlanGalley, CMIC’s Exploration Research Director.One of the program’s goals will to be to train thenext generation of exploration geoscientists.Without an initial push from the PDAC, theprogram may never have launched. “We’ve hada lot of input from industry geoscientists,academics and support from NRCAN, but thePDAC was the driving force behind this explorationinitiative,” Moore says.The CMIC initiative is just one of severalgeoscience projects the PDAC has been involvedin over the past number of decades. Years oflobbying by the late Geoscience committee chairMary-Claire Ward resulted in federal programssuch as the Targeted Geoscience Initiative (TGI),an ongoing program with the goal of developingnew ways of exploring for deep mineral depositsand the Geomapping for Energy and Mineral(GEM) program that provides $100 million formapping over five years to encourage economicdevelopment in Canada’s north.Although the effects of government geoscienceprograms are difficult to quantify, studiessponsored by the PDAC estimate that everydollar that government spends results in fivedollars of private sector exploration spending.Meanwhile, the association continues to championmobility for Canadian geoscientists. Thesituation is improving between certain provinces,but there is still a need for mechanisms to sparegeoscientists the expense and paperworkinvolved in having to register in every provincewhere they work.“If you’re professionally registered in oneprovince, you should not have to go through theregistration process in another province. Youshould just be able to show up, show youraccreditation and that should be good enough,”says Moore.Ontario and Quebec, for instance, have anagreement whereby their geologists can moveback and forth between provinces for a number ofdays using a simple internet application process.B.C. and Alberta have expressed an interest injoining with Ontario in a similar agreement.Last fall, Moore spoke to government geologistsat the Mines Ministers’ Conference inCharlottetown about another kind of standardization:consistent presentation and access toexploration data across provincial and federalwebsites, and better digitizing of that data.“They’ve done a fabulous job of scanning alltheir old exploration files and data right back tothe beginning,” says Moore of the provincial andfederal geological surveys. But a lot of the datais delivered as a paper report when it would beso much more useful to explorers if it were in theoriginal digital format that could be manipulatedimmediately without having to be re-entered.“This would open things up for entrepreneursto develop new ideas with all the data we have,”says Moore. “We’ve been asking so long forthe government to provide us with more datathrough mapping and so on, but maybe it’s timefor industry to look at itself and not be so reluctantabout providing digital data.”Moore says he has had guarded support fromvarious prospectors associations and juniorcompanies for this initiative, but suspects thesenior companies may take more convincing.The move to make digital data moreaccessible is just one example of how thePDAC—often working behind the scenes—helpsfoster geoscience knowledge and keep thoseorebodies coming.— By Virginia HeffernanAnnual Report 201227

PDAC’sgrowingleadershipinAboriginalAffairsWhen the PDAC’s Aboriginal Affairs committeeformed in 2004, there was a growing desirewithin the association to enhance the naturalpartnership that existed between Aboriginalcommunities and the mineral exploration andmining industry. Yet at the time, Aboriginalparticipation at the PDAC Convention was notvery high and there were no Aboriginal executiveson the PDAC’s board of directors.How times have changed. Today, the PDAChas a Memorandum of Understanding (MOU) inplace with the Assembly of First Nations (AFN) topromote greater participation by First Nations inthe mineral industry in Canada, and more than500 self-identified Aboriginal delegates attendedthe PDAC Convention in 2012. Furthermore,this past year the association welcomed its firstAboriginal President in Glenn Nolan.“I’m always amazed about where we’ve comein the last decade as an industry,” says Nolan,who hails from the Missanabie Cree First Nationin northern Ontario and who in addition to hisduties with the PDAC serves as Vice-Presidentof Aboriginal Affairs for Noront Resources. “Thegrowth in awareness by industry members aboutwhat needs to be done to engage communities ina proactive and respectful way is encouraging.”It was former President Peter Dimmell who firstrecognized in 2004 that the PDAC needed to takea greater leadership role in fostering a positiverelationship with Aboriginal communities.The B.C. Supreme Court had just ruled on the“duty to consult” and issues were arisingbetween some junior companies and Aboriginalcommunities in Ontario.“The Platinex-Kitchenuhmaykoosib Inninuwug(KI) dispute was not in the news yet, but therewere a couple of other less high profile situationswhere companies and communities were startingto clash around the duty to consult,” says DonBubar, who joined the PDAC board of directorsin 2004 and has worked with Aboriginal groupsin the Northwest Territories and in northwesternOntario. “Peter approached me to chair the new28 Prospectors & Developers Association of Canada

aboriginal affairsPDAC Aboriginal Affairs committee because I hadspoken up on Aboriginal issues during a coupleof board meetings and was one of the few on theboard at the time who had relevant experienceworking with communities.”Bubar immediately turned to Chuck Willms, alawyer specializing in Aboriginal law at FaskenMartineau, to join the committee and speak at aPDAC event on the implications of the SupremeCourt decision on the duty to consult. Nolanattended the event as a representative of his owncommunity and introduced himself to Bubar,who recognized in Nolan a valuable potentialcommittee and PDAC board member.When elected at the AGM in March 2005, Nolanwas the only Aboriginal person on the PDACboard of directors at the time. He was followed byJack Blacksmith, Michael Fox and Annita McPhee.Fox and McPhee still serve on the board withNolan, who became President in 2012.“My role as the President is being seen as agame-changer,” says Nolan. “Aboriginal peopleare now looking at the association as a way ofembracing something that, in the past, theymight not have considered.”Both Nolan and Bubar identify the PDAC’sMOU with the Assembly of First Nations as thecommittee’s most significant accomplishment.Signed in 2008, the agreement establishes arelationship between the two organizationswith a commitment to opportunities for regulardialogue between the mineral sector and communities,collaboration on human resourceinitiatives that promote greater participationof First Nations people in Canada’s explorationand mining industry, and cooperation on publicpolicy issues of mutual interest.As of February 2012, more than 180 agreementshave been signed between mining companiesand Aboriginal communities or governments inCanada, according to Natural Resources Canada.Projects range from grassroots exploration playsto producing mines across the country.Another significant milestone was the PDAC’sestablishment of the Skookum Jim Award.First presented in March 2008, the award recognizesexceptional achievement and/or servicefrom an Aboriginal-run business, or an individualwho has made a significant contribution tothe industry. The 2013 winner is WindigoCatering Limited Partnership, a cateringcompany in northwestern Ontario that specializesin a variety of on-site management and lightmaintenance services.“Having the board recognize the importance ofAboriginal entrepreneurs and movers andshakers that have exemplified a strong commitmentto the industry was significant,” says Nolan.Since the Aboriginal Program was launched atthe PDAC Convention in 2006, it has grown exponentiallyin quality and quantity. With two daysof sessions (increased from one half-day sessionat its inception) devoted to Aboriginal programming,the convention is a unique opportunity forcompanies and communities to network, createpartnerships, and share knowledge.Aboriginal participation at the convention isexpected to continue to grow in 2013, says LesleyWilliams, the PDAC’s Manager of AboriginalAffairs and Resource Development. Programmingin four separate sessions will focus on buildingcapacity, promoting excellence in engagement,and addressing subjects such as consultationand community-company agreements.Meanwhile, throughout the rest of the year thePDAC will continue to develop tools to buildawareness around the mineral developmentsequence and opportunities that exist, andencourage increased and meaningful Aboriginalparticipation in the industry, adds Williams.Apart from the Aboriginal Program at theconvention, PDAC Aboriginal Affairs undertakesinitiatives and activities to promote greater understandingand cooperation between Aboriginalcommunities and the mineral industry in Canada.While advocating for policy, such as governmentresource revenue sharing and the resolution ofland claims, the PDAC participates in conferencesand meetings central to Aboriginal issuesin Canada. The development of research andtools such as the Exploration and Mining Guidefor Aboriginal Communities is also an integralelement of the department.The opportunity for constructive engagementand Aboriginal participation in the sector is notlost on government representatives at theprovincial and federal level. “We talk a lot in publicpolicy about jobs without people and peoplewithout jobs and I think that is the key to thisobvious marriage of Aboriginal people, particularlytheir youth, and the mining industry,” says LiberalMP Carolyn Bennett, who attended PDAC 2102 andis Vice-Chair of the Aboriginal Affairs and NorthernDevelopment committee at the federal level.Nolan agrees with such a sentiment andenvisions a future in which communities takeownership of exploration programs, hire theirown people, and secure licences to developprojects. When such a vision becomes a reality,the PDAC Aboriginal Affairs committee will havefulfilled its mandate. Until then, there is morework to be done.— By Virginia HeffernanAnnual Report 201229

Three companiesthat are makinge3 Plus workCartier ResourcesCallinex MinesWhen the PDAC launched e3 Plus–A Frameworkfor Responsible Exploration—in March 2009,the goal of the program was that it serve as abenchmark of principles and guidelines thatexploration and mining companies could use intheir everyday activities. Although presentedas a voluntary tool, it challenged companies tostrive for excellence in three distinct areas: socialresponsibility, environmental stewardship, andhealth and safety.In an effort to see first-hand how companieshave been using e3 Plus since its inception, thePDAC visited three projects over the past few years—two in Canada and one in South America—to gainvaluable insight into the benefits of the program,along with areas that need improvement.The first visit was to Val d’Or, Quebec, inJune 2011 to a gold exploration site owned byCartier Resources. The company’s CEO,Philippe Cloutier, had previously expressed akeen interest in responsible exploration andwanted to ensure that his company was complyingwith local regulations, even going beyondthe necessary compliance standards whenpossible. He had presented the best practicesoutlined in e3 Plus to the company’s board ofdirectors who were particularly intrigued by theprinciples related to the environment, as well ashealth and safety.To achieve his goal, Cloutier hired a consultantwho specializes in sustainable development tocreate a good practice checklist and to overseethe proper application of certain principles.From there, the company started holding staffmeetings to verify the application of certainrecommendations that were identified in e3 Plus,and during the PDAC’s visit they were in theprocess of putting together a bulletin board tohelp infuse key principles into the company’soperating culture. They have even introduced agrant for College of General and VocationalEducation (CEGEP) students who, in an essay,can successfully discuss a topic mentioned ine3 Plus, regardless of their specialization.And what’s the payoff to Cartier Resources forimplementing e3 Plus? “Applying best practicesthrough e3 Plus will make us more competitive inthe long run,” says Cloutier.The second visit the PDAC team undertookwas in September of 2011 to a base and preciousmetals property outside of Smithers, BritishColumbia, operated by Callinex Mines. Althoughthe company strictly abides by the laws thatregulate the provincial activities of the mineralexploration industry, they have also created theirown internal health and safety regulations thatuse e3 Plus principles because as their CEO MikeMuzlyowski put it: “We leave nothing to chance;we can’t take the risk.”30 Prospectors & Developers Association of Canada

e3 PlusAnd what’s the payoff to Cartier Resourcesfor implementing e3 Plus? “Applying bestpractices through e3 Plus will make us morecompetitive in the long run.”— Philippe Cloutier, CEO, Cartier ResourcesLithium AmericasFurthermore, Callinex is working hard toreduce its environmental footprint. Reclamationof drill sites and ATV tracks is ongoing, and newmethods of transportation are being used tominimize damage to surface areas. The companyhas also implemented successful strategies toreduce and manage waste materials in all sectorsof its projects.The last field trip the PDAC undertook wasin October 2011 to Provincia de Jujuy, in the farnorth of Argentina, to a lithium exploration siteowned by Lithium Americas. The company hadreceived an overwhelming amount of supportfrom the local communities since its arrival andwanted to nurture those existing relationshipsby offering their assistance in local developmentprojects. “The company has the potential tochange the local communities’ life and to makesure that those changes are positive, and thatthe negative risks are mitigated,” noted LithiumAmericas’ CEO, Waldo Perez.To accomplish this, Perez frequently engageswith local community members and stakeholdersto discuss their concerns, and the CommunityRelations staff reports directly to him so decisionsare made immediately. The company alsoarranges monthly assemblies or “assembleas”—regular community meetings where all matters ofimportance to the community are discussed—ineach community located near the explorationsite. From these meetings they sign agreementscalled “convenios” in which Lithium Americasestablishes its role and responsibilities to keepthe communities informed and to mitigate anypotential environmental, health and safety, orsocial issues.In terms of contributing to the development oflocal communities, the company has created anumber of unique initiatives, from knitting andcooking lessons, to programs for local employmentand economic development, as well asaccess to medical services. To educate thecommunity about its activities, they organizeguided visits to the site during the various stagesof the project.These are just three examples of how e3 Plusis making a difference in the explorationactivities of three domestic and internationalcompanies. Going forward, as the associationimplements the objectives of its strategic plan,new areas for CSR development will be created tofurther enhance and promote the guidingprinciples of e3 Plus.— By Cameron Ainsworth-VinczeAnnual Report 201231

The PDAC Board of Directors was pleased to announcethe following awards for outstanding contributions tothe mining and mineral exploration industry. The awardswere presented during the Awards Evening Dinner at thePDAC 2012 Convention.PDAC Awardsfor 2012Bill Dennis Award for a Canadiandiscovery or prospecting successGerald Panneton, President and CEO of DetourGold Corp., received this award for his leadershiprole on the team that advanced the Detour Lakeproperty in northern Ontario into a world-class,low-grade, high tonnage gold deposit. Pannetonspearheaded the initial acquisition and subsequentevaluation of what is now considered tobe Canada’s largest undeveloped gold deposit.Recognizing the potential of Detour Lake in 2006,Panneton commissioned a large-scale drillingand resampling program. By the end of 2011,the project had proven and probable open pitreserves of 14.9 million ounces of gold. DetourGold Corp. is now moving ahead with the developmentof the project.Environmental & SocialResponsibility AwardThis award recognized Towards SustainableMining (TSM), a stewardship program developedby the Mining Association of Canada (MAC) thataims to improve the mining industry’s overallperformance by aligning its actions with thepriorities and values of Canadians. The programwas created in 2004 to help mining companiesevaluate the quality, comprehensiveness androbustness of their management systems underseveral performance elements—tailings management,energy use and greenhouse gas emissionsmanagement, Aboriginal and communityoutreach, crisis management planning, biodiversityconservation management, and safety andhealth. Participation in TSM is a condition ofmembership in MAC. It requires members tosubscribe to a set of guiding principles that arebacked by specific performance indicatorsagainst which member companies must reportannually. These reported results are externallyverified every three years. A community ofinterest advisory panel provides feedback toMAC on the implementation, reception and useof TSM performance indicators. TSM has beenrecognized as one of the best industry associationsustainability initiatives in the world,receiving the Globe Award for EnvironmentalExcellence in 2005. Since that time, independentstudies by Five Winds (2008) and the CanadianBusiness for Social Responsibility (2009) haveboth ranked TSM as “best in class.”32 Prospectors & Developers Association of Canada

awardsDistinguished Service AwardDeborah McCombe was the recipient of thisyear’s award for her many contributions and distinguishedservice to the mineral industry and itssupporting organizations. Mrs. McCombe servedas a PDAC Director from 1996 to 2011. For muchof that period, she chaired the association’sInternational Affairs committee. She was also amember of the Convention Planning committee,and served on the Governance and StrategicPlanning committees. Mrs. McCombe has alsobeen an active supporter of the CIM, servingon the Mining Millennium 2000 ConventionOrganizing committee and chairing the CIMToronto branch in 2003. She is a member of theCIM Standing committee on mineral resourceand mineral reserves and is a Canadian representativeof the Committee for Mineral ReservesInternational Reporting Standards (CRIRSCO).Deborah received the CIM Fellowship Awardin 2005 and a 2001-2002 DistinguishedLecturer Award for her presentations onNational Instrument 43-101 across the country.She is a past Director of Mining Innovation,Rehabilitation and Applied Research Corporation(MIRARCO). Mrs. McCombe served as amember of the APGO Council as Councillorat Large from 2007-2009, subsequentlybecoming Vice President and then President.Deborah was President of Watts, Griffis andMcOuat before joining the OSC as Chief MiningConsultant in 2000. Currently, she is the Presidentand CEO of Roscoe Postle & Associates.A workforce in excess of600 people on variousprojects in northern Canadaand sources 66% to 81%of the goods and servicesit uses from the North.Skookum Jim Award for Aboriginalachievement in the mineral industryThis year’s award was presented to the NunaGroup of Companies for providing mining andconstruction services to mining companies innorthern Canada, and training and employmentopportunities for Aboriginal people in the North.Nuna was formed in 1993 and is 51% Inuitowned[Nunasi Corporation (25.5%); KitikmeotCorporation (25.5%); and Nuna Management(49%)]. Services the Nuna Group provides,through a group of seven subsidiary companiesand 14 joint ventures and partnerships, includeconstruction services, logistics, contract mining,infrastructure planning, earthworks, large diameterdrilling, and mining support services andmining products. Sharing the economic benefitsof the business with Inuit, Aboriginals andnortherners has resulted in the company having,among owners and subcontractors, a very highproportion of northern content on projects.The company, which is dedicated to ongoingemployee training, has a workforce in excessof 600 people on various projects in northernCanada, and sources 66% to 81% of the goodsand services it uses from the North. Nuna wascontracted to build the 567 km ice road fromYellowknife to Lupin, Nunavut, and since 1998the company has operated and maintained thisroadway, which provides access to northernmining sites each winter.Annual Report 201233

awardsViola R. MacMillan Award forcompany or mine developmentThe PDAC selected Osisko Mining Corp. for thisaward after successfully developing and bringinginto production the company’s CanadianMalartic gold property in Quebec’s Abitibi goldbelt. In November 2004, Osisko acquired theproperty, which had produced some 5 millionounces of gold from 1935 to 1983 from four mines(Canadian Malartic, Barnat, Sladen and EastMalartic). A detailed compilation of the extensivehistorical database was followed by the start of amajor drilling program in March 2005. The minebegan commercial production on May 19, 2011,and currently has an estimated 10.71 millionounces in proven and probable reserves.The company has been exemplary in itsattention to community concerns and involvementthroughout the development of the open pitmine, which included the resettlement of morethan 150 homes and the construction of fiveinstitutional buildings, and acknowledges that thecollaboration of residents and the town councilhas been crucial to the success of the project.Thayer Lindsley Award for aninternational mineral discoveryDavid A. Giles was the recipient of this year’saward for heading Peñoles and Fresnillo Plcexploration teams that have seen considerablesuccess in the number of their new economicgold and silver deposit finds in Mexico and LatinAmerica. Most notable of these was the discoveryof a new vein system in the Fresnillo district,leading to the opening of the Saucito mine in2011 and consolidating Fresnillo as the largestsilver district in the world.Other principal finds included the San Juliansilver-gold and Orisyvo gold deposits inMexico, both now under development, and thediscovery and geological reinterpretation ofthe Francisco I. Madero SEDEX deposit that led tothe opening of an important new mine in 2002.The company has beenexemplary in its attentionto community concernsand involvement throughoutthe development of theopen pit mine.34 Prospectors & Developers Association of Canada

A awards Message from THE EXECUTIVE DIRECTORSpecial Achievement AwardFrom time to time, the PDAC presents a SpecialAchievement Award that recognizes exceptionalcontributions to the mineral industry. Thisyear, the association chose to honour the MineTraining Society (MTS) for providing Aboriginalpeople in northern Canada with the opportunityto develop usable job skills for the miningindustry, and for developing a pool of skilledworkers for the industry. MTS is a non-profitorganization comprised of Aboriginal, industry,and government partners. Its objectives are to:1) screen, select, train, and place northerners inall areas of mining; and 2) in cooperation with theNWT’s education system and communities, builda legacy of education and awareness about theemployee and skill requirements of the miningindustry. MTS works with mining companies andindustry service providers to bring training andjobs together, funding up to 50% of eligible costsfor training programs. Priority for funding isgiven to training proposals that are skills basedand lead directly to employment.The MTS is a pioneer in this area and servesas a model for the other training societies acrossthe North. Since 2004, the MTS and its partnershave trained 854 individuals out of a total1,095 applications, and 600 people have beenemployed in the mine and mine services sector.Courses offered include general trades training,environmental monitoring, first aid firstresponder, driller helper, underground mining(heavy equipment operator, etc.), and mineralprocess operation.Since 2004, the MTS andits partners have trained854 individuals out of atotal 1,095 applications,and 600 people have beenemployed in the mine andmine services sector.Mary-Claire Ward Geoscience AwardDeanne van Rooyen was chosen as this year’sMary-Claire Ward Geoscience Award recipient forher research project “Origin and geologicalhistory of Proterozoic, Paleozoic and Mesozoicrocks in the southern Thor-Odin area, B.C,based on mapping, structural, geochemical,geochronological and thermochronologicalconstraints: Implications for accretionarytectonics and orogenesis in the southernCanadian Cordillera.” Deanne recently completedher PhD in the Department of Earth Sciences atCarleton University.The award, comprising $5,000 and a certificate,is given annually to honour the memory ofMary-Claire Ward who died in 2004. At the timeof her death, Mrs. Ward was the chair of thePDAC’s Geoscience committee, Chairman ofWatts Griffis McOuat Ltd., and a past President ofthe Geological Association of Canada. She was apassionate advocate for the geosciences inCanada. The intent of the award is to encourageand support a graduate student in Canada whosethesis will contribute to our knowledge about thegeological history of Canada.Annual Report 201235

Ron Gageltackles theintricaciesof miningunder theIFRSphoto by Michelle siuAccounting firms may possess the expertiserequired to interpret the International FinancialReporting Standards (IFRS) adopted by Canadianpublic companies in 2011, but it’s people likeRon Gagel who have the real life experience todeal with the unusual accounting issues facingthe mining industry—especially the junior sectorthat is so prolific in Canada.That’s why the PDAC chose Gagel, a charteredaccountant who has worked in the industry formore than a quarter of a century and been aPDAC board member since 1997, to assist themore than 1,000 juniors that make up the bulk ofthe PDAC membership as they transition to theIFRS accounting standards that took effect onJanuary 1, 2011. The standards, which wereinitially implemented in Europe to harmonizeaccounting practises across the European Union,are designed to make company accountsunderstandable and comparable across internationalboundaries.Gagel chairs a mining task force establishedby the PDAC and the Canadian Institute ofChartered Accountants (CICA) to respond tomining specific issues where the IFRS provideslittle guidance around such topics as how toaccount for flow-through, a financing vehicleunique to Canada. The task force does notpublish pronouncements—only the InternationalAccounting Standards board can do that—but does produce “Viewpoints” that juniorslacking accounting depth can use to determinehow to proceed when they hit a snag underthe new rules.“Being the only chartered accountant on theboard of the PDAC at the time, it was felt that Iwas the person who was most technically qualifiedfrom a financial perspective,” says Gagel, theformer CFO of FNX Mining, which merged withQuadra Mining in 2010. “I’ve been with juniorsthat have gone from nothing to producing, soI’ve seen almost everything that’s involved froman accounting perspective when it comes to thejunior side of the business.”36 Prospectors & Developers Association of Canada

ifrs“ The IFRSs do not contemplate the nuances of the extractiveindustries. Even mining and oil and gas, thoughboth are extractive industries, are very different.”— Ron GagelAnother added bonus is that throughout theinitial set-up of the task force, and until herecently joined TMAC Resources as theirExecutive Vice President and CFO, Gagel wasnot affiliated with one mining company oraccounting firm, although he did sit on theboards of Adriana Resources, DalradianResources and Stonegate Agricom.The rest of the task force is made up of representativesfrom the largest Canadian public accountingfirms, including KPMG, Deloitte & Touche,PricewaterhouseCoopers, Ernst & Young, RaymondChabot Grant Thornton and BDO Canada.Given several years to prepare before theJanuary 2011 conversion date, the majority ofCanada’s public mining companies have madethe switch to IFRS, a set of accounting principlesused in most countries, the United States beingthe most significant exception. But that doesn’tmean that all the wrinkles have been ironed out.“Mining has a lot of unique issues associatedwith it. For example, going underground anddigging shafts and tunnels makes for an unusualbusiness,” says Gagel. “The IFRSs do not contemplatethe nuances of the extractive industries.Even mining and oil and gas, though both areextractive industries, are very different.”As a result, the PDAC-CICA mining task forcehas developed nine “Viewpoints” on variousissues that range from how to define the beginningof commercial production, to determiningfunctional currency, to guidance on farm outarrangements for exploration properties. Andthey are working on more.“This is a value-added service to the PDACmembership,” says Gagel. “The PDAC is trying todo something for its members by providing theguidance they and their auditors need to accountfor certain unusual aspects of mining accounting.”Some issues have been contentious, whileothers, such as mining royalties, have beenshelved because they are “too complex andvaried,” says Gagel. The IFRS is already investigatingthe principles for royalties from a broader,multi-industry perspective.But although adopting IFRSs has not beenwithout its challenges, Gagel says the newaccounting system gives Canadian companiesglobally comparable metrics that should helpthem attract capital.“Capital flows to where it has the best return,” saysGagel. “But if you have country-specific accounting,there is an element of risk and confusion thatreduces the efficiency of the capital markets.”The mining task force is important to thetransition process because of the lack of guidancefrom the IFRS about an industry that most ofthe financial world sees as a “rounding error insize” and not the economic powerhouse that itrepresents in Canada.Even though, after all is said and done, a juniormining company’s balance sheet may look the sameunder IFRS (where it is referred to as a “Statementof Financial Position”) as it did under Canada’sGenerally Accepted Accounting Principles (GAAP),there is a great deal of training and documentationrequired for companies to make the switch.At least GAAP and IFRS are both principlesbased,which means that they both begin withstandards that can be interpreted accordingto the situation. This is different from the morerules-based type of system that the United Statesclings to, which resembles a Napoleonic code.“Principles-based accounting permits someflexibility in interpreting rules, so the IFRSs arewritten at a high level and don’t necessarilyget into minutia, especially industry-specificminutia,” says Gagel. “We’re always askingwhich principle are we talking about, and that’swhere you get interpretations of accounting.”Gagel says IFRS issues continue to arise in themining sector, such as how to account for goldlinkedfinancing, resource depletion and thereopening of a previously closed mine.“There are still a lot of issues out there thatneed to be addressed. Accounting is contin uouslyevolving so I don’t see an end to the mining industryIFRS task force in the foreseeable future.”— By Virginia HeffernanAnnual Report 201237

A Message from THE President & Chairman of the Board of Directors2012 PDAC membershipStatisticsINDIVIDUAL MEMBERS(excluding students)7,477US 839 11%Canada67%US11%International22%International 1,651 22%Latin America / Caribbean 573Europe 434Australia 276Asia 261Africa 107Canada 4,987 67%NT 33NU 30YT 34BC 1,376AB 170SK 83MB 90ON 2,496QC 448PE 2NB 44NS 83NL 98PDAC Membership TrendIndividual members 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Core (paid) 0 1,605 1,782 1,890 1,898 1,940 2,217 1,956 2,091 2,335 2,417Regular 2,932 1,420 1,709 1,819 2,271 2,683 2,755 1,976 2,408 3,283 3,895Senior 411 360 406 418 456 462 484 509 501 644 768Student 311 236 251 332 407 487 637 606 933 1,048 1,544Sub-total 3,654 3,621 4,148 4,459 5,032 5,572 6,093 5,047 5,933 7,310 8,624Life 14 157 168 170 169 175 197 208 273 288 291Complimentary Core n/a n/a n/a 22 53 113 83 105 94 97 106Total 3,668 3,778 4,316 4,651 5,254 5,860 6,373 5,360 6,300 7,695 9,021Increases (%): 3% 14% 8% 13% 12% 9% -16% 18% 22% 17%38 Prospectors & Developers Association of Canada

A Message from THE EXECUTIVE DIRECTORUS3% International2%Student MEMBERS1,544US 43 3%International 28 2%Latin America / Caribbean 15Europe 11Australia 2Asia 0Africa 0Canada95%Canada 1,473 95%NT 1NU 0YT 0BC 48AB 23SK 25MB 35ON 1,025QC 162PE 0NB 33NS 57NL 64Canada81%US7%International12%Corporate MEMBERS1,270US 91 7%International 155 12%Latin America / Caribbean 64Europe 48Australia 17Asia 16Africa 10Canada 1,024 81%NT 5NU 4YT 4BC 375AB 39SK 12MB 10ON 451QC 94PE 0NB 6NS 12NL 12Corporate members 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Class A 5 9 12 11 10 13 18 17 19 26 24Class B 3 7 8 6 6 7 7 4 5 10 8Class C 1 0 0 7 8 11 15 15 16 20 23Class D 2 3 5 8 9 9 7 16 19 22 24Class E 0 0 0 1 1 1 2 8 18 17 15Class F 4 4 6 10 15 17 15 n/a n/a n/a n/aSub-Total 15 23 31 43 49 58 64 60 77 95 94Junior Exploration 146 174 266 357 410 445 547 561 545 577 651Non-Mining 32 39 43 190 249 277 349 374 402 430 525Total 193 236 340 590 708 780 960 995 1024 1102 1270Increases (%):Annual Report 201222% 44% 74% 20% 10% 23% 4% 3% 8% 15%39

LOREM IPSUM SIT AMET CONSECETEURSPDAC STAFFExecutive DirectorRoss GallingerAlan Plata Administrative OfficerAlissa Reed Executive AssistantAmanda Scriver Convention CoordinatorAndrea George Convention CoordinatorCameron Ainsworth-VinczeManager, CommunicationsCarolyn Fusina Communications specialistDeborah Breckels Senior Manager,Convention Events and SponsorshipEmily Nunn Manager, CorporateSocial ResponsibilityFlorence MacLeod Membership CoordinatorJoan Leslie AccountantJoyce Zhao Accounting ClerkKarla Doig Convention ManagerKrishana Michaud Manager, Student ProgramLesley Williams Manager, Aboriginal Affairsand Resource DevelopmentLisa McDonald Chief Operations OfficerMaria Milanova Administrative OfficerNadim Kara Senior Program DirectorNicole Sampson Convention DirectorSandra Francescon Convention CoordinatorSarah Nazar Convention Coordinator,Events and SponsorshipSherry Dickert Senior Coordinator,Convention Events and SponsorshipScott Cavan Strategic Advisor,Aboriginal Affairs and Social DevelopmentSteve Virtue Senior Director,Public Affairs and CommunicationsEditorialProduced by PDAC’s Communications DepartmentEditor: Cameron Ainsworth-VinczeContributors: Steve Virtue, Virginia Heffernan,Lee Jacobson, Carolyn Fusina, Krishana Michaud,Amanda Horn, Victoria Stratton, Janice Williams,Lisa McDonald, Nicole Sampson, Florence Macleod,Joan Leslie, Karen Mulchinock, Emily Nunn,Lesley Williams, Scott Cavan, Sheriden Barnett,Tara Christie, Robert Schafer, Keith Spence,Bernarda elizalde, katy elliott, philip bousquet,Glenn Nolan, Ross Gallinger, Tony MakepeaceDesign: Hambly & Woolley Inc.Visit us online www.pdac.caTwitter www.twitter.com/the_PDACFacebook www.facebook.com/thePDACPDAC BOARD OF DIRECTORSPresidentGlenn NolanFirst Vice-PresidentRodney ThomasSecond Vice-PresidentRobert (Bob) SchaferDirectorsLynda BloomMichael BourassaRobert BoydAndrew BrownDonald BubarNormand ChampignyTara ChristieSteven DeckTim DoheyMartin DoyleJim ExcellCatharine FarrowMichael FoxRon GagelAndre GaumondJim GloverGuy GosselinBarbara HendricksonDebbie HendsbeeJoe HinzerSherri HodderDennis JonesNick KohlmannFelix LeeTerry LoneyMichael MarchandStephen MassonAnnita McPheeMaryAnn MihychukRichard MooreStephen MorisonGlenn MullanRalph NewsonMatthew PickardRandy RogersKeith SpenceMike TaylorEira ThomasDave ThomasIan ThomsonBob ValliantSteve VaughanNeil WestollDerek WiltonLawrence WinterCover Photo: andrew straininterior photos courtesy: Fairmont royal york, metro toronto convention centre, pdac archives, tony makepeace, mihr, envision digital photography40 Prospectors & Developers Association of Canada

Prospectors & DevelopersAssociation of Canada135 King Street EastToronto, OntarioM5C 1G6Phone 416.362.1969info@pdac.cawww.pdac.ca