2016 Mineral Reserves and Resources 1
(as of December 31, 2016)


December 31, 2016 December 31, 2015
Tonnes
(metric)
Grade
(g/t Au)
Gold Ounces
Contained
Tonnes
(metric)
Grade
(g/t Au)
Gold Ounces
Contained
Island Gold Mine

Proven Reserves2

573,000

8.68

159,800

363,500

7.53

87,900

Probable Reserves2

1,978,000

9.31

592,400

1,752,000

8.41

473,800

Total Proven & Probable Reserves2

2,551,000

9.17

752,200

2,115,500

8.26

561,700

Measured Resources

33,500

4.94

5,350

7,500

5.80

1,350

Indicated Resources

445,500

6.01

86,100

341,000

6.42

70,350

Total Measured & Indicated Resources

479,000

5.94

91,450

348,500

6.40

71,700

Total Inferred Resources

3,042,000

10.18

995,700

2,815,000

8.49

768,050

  1. Mineral Resources presented are exclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
  2. In 2016, based on a gold price of CAN$1,500/oz; in 2015, based on a gold price of US$1,080/oz and an exchange rate of CAN$1.2037 = US$1.00.
  3. Underground Mineral Resources established as of December 31, 2012.
  4. Monique Mineral Resources are located underground directly below the open-pit.
  5. The Francoeur Mine closed in November 2012 and was sold in 2016.

Regulation 43-101
The reserve and resource calculations were performed by qualified persons as defined by Regulation 43-101. Please refer to the SEDAR website (www.sedar.com) for full reports and additional corporate documentation.

Cautionary note to US investors concerning resource estimates
Information in this website is intended to comply with the requirements of the Toronto Stock Exchange and applicable Canadian securities legislation, which differ in certain respects with the rules and regulations promulgated under the United States Securities Exchange Act of 1934, as amended ("Exchange Act"), as promulgated by the SEC. The resource estimate in this website is prepared in accordance with Regulation 43-101 adopted by the Canadian Securities Administrators. The requirements of Regulation 43-101 differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC").

U.S. Investors are urged to consider the disclosure in our annual report on Form 20-F, File No. 001-14598, as filed with the SEC under the Exchange Act, which may be obtained from us (without cost) or from the SEC's web site: http://sec.gov/edgar.shtml.