Gabriel Resources - Reserves & Resources

Rosia Montana

Reported Mineral Resources at Rosia Montana can be summarised as follows:

Resources Category Tonnes (Mt) Au (g/t) Ag (g/t) Contained Au
M oz
Contained Ag
M oz
Measured 171.5 1.32 8 7.26 43.16
Indicated 341.2 0.90 3 9.89 37.96
MEASURED & INDICATED 512.7 1.04 5 17.14 81.12
Inferred 44.8 0.98 3 1.42 4.10

Reported Mineral Reserves at Rosia Montana can be summarised as follows:

Reserves Category Tonnes (Mt) Au (g/t) Ag (g/t) Contained Au
M oz
Contained Ag
M oz
Proven 112.5 1.63 9.01 5.9 32.6
Probable 102.5 1.27 4.55 4.2 15.0
PROVEN & PROBABLE 214.9 1.46 6.88 10.1 47.6

Rosia Montana Mineral Resources and Mineral Reserves Reporting Notes:

  1. Disclosure of Mineral Resources and Mineral Reserves for the Project is extracted or derived from the Company’s “Technical Report on the Rosia Montana Gold and Silver Project Transylvania, Romania” with an effective date of October 1, 2012 (“Technical Report”), which is filed under the Company’s SEDAR profile at www.sedar.com. SRK Consulting (UK) Ltd (“SRK”), authored the Technical Report under the supervision of Dr. Mike Armitage C.Eng C.Geol, Group Chairman of SRK, who is considered an independent qualified person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) guidelines. Link to Technical Report
  2. All Mineral Resources and Mineral Reserves statements contained in the Technical Report are classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines” as per the requirements of NI 43-101.
  3. For more information with respect to the data verification procedures undertaken and the key assumptions, parameters and risks associated with the foregoing scientific and technical information, please refer to the Technical Report, a copy of which is filed under the Company’s SEDAR profile.
  4. The Mineral Resources estimates set out above are estimated based on a 0.4 gram of gold per tonne cut-off grade.
  5. Numbers may not total due to rounding.
  6. Mineral Reserves and Mineral Resources are mine and property totals and are not limited to Gabriel’s proportionate interests in the Project.
  7. All quoted Mineral Resources are inclusive of the Mineral Reserves. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
  8. Development of the Project is dependent on successful permitting.

 

Bucium

Reported Mineral Resources at Bucium Rodu-Frasin can be summarized as follows:

Resources Category Tonnes (Mt) Au (g/t) Ag (g/t) Contained Au
M oz
Contained Ag
M oz
Indicated 7.9 1.92 5 0.5 1.4
Inferred 35.4 1.16 3 1.3 3.3

Bucium Mineral Resources Reporting Notes:

  1. Disclosure of Mineral Resources for the Bucium Rodu-Frasin deposit is extracted or derived from the “Revised Resource Estimate for Rodu and Fraisin Prospects” prepared by RSG Global dated November 2004. The Mineral Resource estimates reported therein and set out above have been estimated by Julian Verbeek, MAusIMM, of RSG Global under the supervision of Brett Gossage, MAusIMM of RSG Global, each an independent qualified person for the purposes of NI 43-101. Link to Resource Estimate
  2. The Mineral Resources estimates set out above are estimated on a 0.6 gram of gold per tonne cut-off grade, a 40 x 40 x 10 metre block size and ordinary kriging.
  3. Numbers may not total due to rounding.
  4. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
  5. Inferred Mineral Resources have a great amount of uncertainty as to their existence and as to whether they can be mined economically. It cannot be assumed that all or part of the Inferred Mineral Resources will ever be upgraded to a higher category.
  6. Mineral Resources are mine and property totals and are not limited to Gabriel’s proportionate interests in the Bucium Project.
  7. Development of the Bucium Project is dependent on successful permitting.

Cautionary Note concerning Reserve and Resource Estimates:

These tables use the terms “Measured”, “Indicated” and “Inferred” Resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable.