Figure 1: Western Atlas Resources’ Meadowbank Project (Block A, B and C)

Exploration

• Detailed field mapping and sampling program
• Over 3,800 km of airborne magnetic survey
• Over 1,500 line-km of helicopter-borne VTEM followed by electromagnetic anomaly picking (EM) and AIIP processing report
• Over 32 line-km of ground IP survey over specific targets located in Block B

Systematic exploration has defined numerous drill targets – several of these targets have yielded gold values of up to 13.30 g/t Au and up to 44.7 g/t Ag

• The geological and structural framework as it relates to gold mineralization in the area is well understood and generally associated with Banded Iron Formation (BIF) and Shear Zones
• Exploration results suggest multiple targets with kilometres strike length located within a favourable Archean greenstone belt geological environment with known iron formation and shear zones hosted gold mineralization
• Similar geological settings can be found at Agnico Eagle’s neighboring Meadowbank and Amaruq producing gold mines

Excellent Infrastructure – Serviced Year Round

In Meadowbank, Western Atlas’s project benefits from the existing local infrastructure and labour market. Baker Lake and Rankin Inlet are hubs for mining activities in the region. Baker Lake provides summer shipping access via Hudson Bay and year-round airport facilities. Agnico Eagle maintains a 110km all-weather road from Baker Lake to its mine site, passing through Western Atlas properties in Meadowbank. General workforce is readily available from the local communities.