CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines (2003)

"Adopted in 2003, theses guidelines are intended to assist the Qualified Person(s) in the planning, supervision, preparation and reporting of mineral resources and mineral reserve estimates. The report is divided into two broad sections “General Guidelines” appropriate for most metals and “Guidelines Specific to Particular Commodities” for potash, industrial minerals, uranium and coal. “These guidelines are reference in the Companion Policy of NI 43-101 with a statement that a qualified person classifying a mineral deposit as a mineral resource or mineral reserve should follow them.”Executive SummaryThe following is a summary, in table format, of the main elements of the Estimation Best Practice Committee's report ""Estimation of Mineral Resource and Mineral Reserve Best Practice Guidelines"". While the summary table is provided for convenience, the Committee recommends that the report be read in its entirety and the table summary not be used as a stand alone document. These guidelines are not intended to be either prescriptive or exhaustive. They do not preclude innovation. Preamble: These guidelines have been prepared by the Canadian Institute of Mining and Metallurgy and Petroleum (CIM) led Estimation Best Practices Committee. They are intended to assist the Qualified Person(s) (QP) in the planning, supervision, preparation and reporting of Mineral Resource and Mineral Reserve (MRMR) estimates. All MRMR estimation work from which public reporting will ensue must be designed and carried out under the direction of a QP in accordance with National Instrument 43-101 (NI 43-101) and related forms. A QP is defined in NI 43-101 as ""an individual who is an engineer or geoscientist with at least five (5) years of experience in mineral exploration, mine development, mine operation, project assessment or any combination of these; has experience relevant to the subject matter of the mineral project and technical report; and is a member in good standing of a professional association"". Disclosure of MRMR estimates is to be made in accordance with industry standard definitions approved by the CIM (the CIM Standards adopted by the CIM Council in August 2002) which have been incorporated by reference into NI 43-101."