ORIVESI

Orivesi Gold Mine

Sarvisuo Ore Lodes

Mining from the Sarvisuo ore loads commenced in April 2008 with ore being processed at the Vammala Production Centre 80km to the southwest.

Mining has been conducted from the 260m level to the 620m level with the decline being extended to 620m level. Since recommencing mining at Orivesi 713,654 tonnes of ore have been mined and transported to the Vammala plant.

Orivesi Gold Mine

Kutema Ore Lodes

Kutema was mined by Outokumpu between 1992 and 2003 and produced 422,000 ounces of gold. The 150,900 ounce Indicated and Inferred Resource represents a substantial medium to high grade depth extension.

Following the completion of an internal study the Company committed to a staged development of the Kutema lodes. The study highlighted the potential to the 1080m level. The commitment to mine the Kutema lodes involves the purchase of new key mining equipment, raise boring a new ventilation shaft to the surface and establishing underground infrastructure.

The extension of the Kutema decline from the 720m level commenced in January, had advanced 474m by the end of September 2011 and reached the 790m level. The 740m and 760m access drive were completed and the 780m access drive commenced.