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(“Thibault”) and is compliant with National Instrument 43-101 (“NI 43-101”) based on an updated NI 43-101 compliant mineral resources estimate prepared by Mercator Geological Services (“Mercator”).

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The PEA is based on Inferred Mineral Resources, which are not Mineral Reserves and do not have demonstrated economic viability.

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Inferred Mineral Resources are considered too speculative geologiy to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves and there is therefore no certainty that the conclusions of the PEA will be realized.

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Woodstock’s low operating costs are attributed in large part to the amenability of the Woodstock Plymouth deposit to low cost open pit mining methods with low stripping ratios and relatively low industrial electricity rates in New Brunswick that are sustainable for the duration of the project.Woodstock Mn - New Brunswick - Minco PLC

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