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Magino Gold Project

Status: Advanced Exploration
Location: Ontario, Canada
Ownership: 100% Argonaut Gold
Acquisition: December 2012

Gold reserve (at $1,200 gold) and resource (at $1,300 gold) estimates:

Category
Tonnes
(millions)
Au
Grade (g/t)
Contained Au
Ounces
(millions)

Proven & Probable

105.4

0.89

3.02

Indicated(1)

143.8

0.88

4.07
Inferred
43.3
0.76
1.06

(1) Inclusive of Reserves
Click here for full mineral reserve and resource disclosure at December 31, 2016

The Mineral Reserves for Magino set out in the table above were taken from the Magino Technical Report dated February 22, 2016 (effective January 18, 2016).  The Mineral Reserve was estimated at a gold price of $1,200.  The Probable Reserve study used a gold cutoff of 0.35 g/t.  These amounts have been reviewed and confirmed by Thomas Burkhart, who is a “qualified person” for purposes of NI 43-101.   

The Mineral Resources for the Magino Project set out in the table above were taken from the Magino Technical Report dated February 22, 2016 (effective date of January 18, 2016). The Mineral Resource was estimated at a gold price of $1,300. The Indicate Resource study used a cutoff of 0.25 g/t gold. These amounts have been reviewed and confirmed by Thomas Burkhart, who is a "qualified person" for purposes of NI 43-101.

Technical Reports:

February 22, 2016 - Technical Report on the Magino Project, Wawa, Ontario, Canada
January 12, 2015 - Report on Magino Heap Leach and Cyanide Optimization Test Work Report
January 30, 2014 - 2012, N.I. 43-101 Preliminary Feasibility Study Technical Report On The Magino Project, Wawa, Ontario
October 4, 2012 - 2012(2), N.I. 43-101 Technical Report On The Magino Project, Wawa, Ontario
February 3, 2012 - 2012, N.I. 43-101 Technical Report On The Magino Project, Wawa, Ontario (PEA)
November 2, 2011 - 2011, N.I. 43-101 Technical Report On The Magino Project, Wawa, Ontario

Project Location and Summary:

The Magino mine property is a past producing underground gold mine located 40 kilometres northeast of Wawa, Ontario, approximately 14 kilometres southeast of the town of Dubreuilville. The property consists of seven patented mining claims, four leased mining claims and 69 unpatented mining claims totaling 2,204.495 hectares. Magino is being evaluated by Prodigy Gold Inc. as an open-pit mining opportunity with the potential for deeper, higher grade gold production.

Project Description Report

Magino Project Description Report (Full Version)

Magino Project Description Report (Executive Summary - English)

Magino Project Description Report (Executive Summary - French)

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