PORCUPINE JOINT VENTUREA Joint Venture of Placer Dome (CLA) Limited and Kinross Gold CorporationBox 70, l Gold Mine Roaa SOUTH PORCUPINE, Ontario TON l HO

PHONE (705)235-3221 FAX (705) 235-2343

DIAMOND DRILL HOLE - OGDEN TWP

PORCUPINE MINING DIVISION

SUBMITTED: June 17, 2004

42A06NW2042 2.27886 OGDEN 010

Porcu pi ne Joint Vanlti ri |1 Hole # | Easting

G04-01 467808

DISTANCE

0.00

38.00

89.00

137.00

200.00

FROM TO

0.00 28.00

28.00 68.30

68.30 68.50

68.50 69.65

69.65 70.00

70.00 100.80

100.80 117.20

Northing |5359396

Elevation200

AZIMUTH DIP

359.9 -45

Length Date200 19-May-2004

REMARKS i

Drilled

Test | Core SizeEZ Shot NQ

Logged ByB. MacRae

| u/ss

jCasingN

Pulled? ICemented? |N

DDH COMMENTS REMARKSon Claim P 1243114.

Target | Location \ Comments: |

| Start Date | End Date |3/29/2004 4/1/2004

358.7 -44.3

359.6 . -44.5

353

353

.9 i -43.7

.4 ;i -43.2

ROCK-TYPE C

CAS,,,,,

UM2,,SFX,ps,TC,cb

MP7,,M,,,

UM2,,M,,TC,cb

MP7,,M,,,

UM2,,M,ps,TC,cb

SS2,,COB,htro,SR,ak

.A. RQD

80

100

100

100

30 95

20 100

REMARKS

Fault goug from 30.3 to 30.7. Possible flow top brecciafrom 63.0 to 67.2.

Dyke has sharp chill margins 35 deg to core axis.

Carbonatization decreases from previous unit.

Chilled margins at 23 deg to CA. 2 07o net txtured pyrite atcenter of dyke.

FROM

99.80

100.80

102.00

103.00

104.00

105.00

106.00

TO

100.80

102.00

103.00

104.00

105.00

106.00

107.00

WIDTH SAMPLE #

1.00

1.20

1.00

1.00

1.00

1.00

1.00

E325721

E325722

E325723

E325724

E325725

E325727

E325728

AUG/T

0.00

0.01

0.00

0.00

0.00

0.00

0.00

"AQTZ V.QS "/oPy "APo "AAspy Remarks

Areas with flow contacts and flow breccia in appearence.

Predominantly altered mafic fragments with occasionalquartz cobble. Strong sericite alteration with 3 07o to 5 07o

117.20 128.00

128.00 130.10

130.10 133.70

133.70 136.00

136.00 139.40

139.40 145.60

145.60 154.00

UM2,,M,fbx,TC,cb

SS2,,PEB,,SR,

UM2,,M,,TC,

UM2,,,,CB,

UM2..M..CB.

VM,,M,,SR,si

VM,,FRAG,,SR,

30 90

50

25 95

95

20

25 90

40 95

pyrite scattered throughout.

Foliation stronger near contacts and fairly massive atcentre of unit.

107.00

108.00

109.00

110.00

111.00

108.00

109.00

110.00

111.00

112.00

1.00

1.00

1.00

1.00

1.00

b-325729

F325730

E325731

E325733

E325734

0.00

0.00

0.00

0.01

0.00Matrix supported conglomerate with streached pebbles.

112.00 113.00 1.00 E325735 0.00Variable alteration intensity with I007o qcs and veining.

Highly altered with 2 07o to 3 07o pyrite and 5 07o pyrrhotite.

Similar to 130.1 to 133.7.

Minor pyrite. Flow features.

Wispy brown mineral defining fragments. Possible

113.00

114.00

115.00

116.00

117.00graphitic material at bottom of unit.

114.00

115.00

116.00

117.00

118.00

1.00

1.00

1.00

1.00

1.00

E325736

E325738

E325739

E325740

E325741

0.00

0.00

0.00

0.00

0.00

Tuesday, June 15, 2004 Hole#: G04-01 Page 1 of 3

FROM TO ROCK-TYPE C.A. RQD REMARKS FROM TO SAMPLE # AUG/T y.QTZ '/.Po V.Aspy Remarks

154.00 162.60 MP7,,M,,, 100 Diabase with glomeroporphyritic feldspar - 3"7o. 118.00

162.60 200.00 SS6,,SCH,,SR, 20 100 Buff coloured, well foliated 181.1 to 182.0 several 10 cm '28.00qtz-tourmaline veins. 12900

130.40

1 3 1 .00

133.70

134.70

136.00

145.60

146.30

147.00

148.00

149.00

150.00

151.00

151.70

153.00

162.60

164.00

165.00

166.00

167.00

168.00

169.00

170.00

171.00

172.00

119.00

129.00

130.40

131.00

132.00

134.70

136.00

136.80

146.30

147.00

148.00

149.00

150.00

151.00

151.70

153.00

154.00

164.00

165.00

166.00

167.00

168.00

169.00

170.00

171.00

172.00

173.00

1.00

1.00

1.40

0.60

1 .00

1.00

1.30

0.80

0.70

0.70

1.00

1.00

1.00

1.00

0.70

1.30

1 .00

1.40

1.00

1.00

1.00

1.00

1.00

1.00

1.00

1.00

1.00

E325742

E325743

E325744

K325745

F325746

E325747

E325749

E325750

E325751

E325752

E325753

E325754

E325756

E325757

E325758

E325760

H325761

F325762

E325763

E325765

E325766

E325767

E325769

E325770

E325771

E325772

E325773

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.01

0.00

0.00

0.00

0.01

0.00

0.00

0.00

0.00

0.00

0.01

0.00

Tuesday, June 15, 2004 Hole#: G04-01 Page 2 of 3

FROM TO ROCK-TYPE C.A. RQD REMARKS FROM TO WIDTH SAMPLE # AUGfT V.QTZ V,QS V,Py '/,Po VoAspy Remarks

l 79.00

180.00

181.00

182.00

183,00

184.00

180.00

181.00

182.00

183.00

184.00

185.00

E325774

E325775

E325776

E325778

E325779

E325780

REMARKS

Drilled on claim 1243114.Core storred at Owl Creek core storage area.

Tuesday, June 15, 2004 Hole#: G04-01 Page 3 of 3

ONTARIO MINISTRY OF NORTHERN DEVELOPMENT AND MINES

Work Report Summary

Transaction No:

Recording Date:

Approval Date:

Client(s):

W0460.00945

2004-JUN-17

2004-JUN-24

Status: APPROVED

Work Done from: 2004-APR-29

to: 2004-MAY-02

130666 KINROSS GOLD CORPORATION

300210 PLACER DOME

Survey Type(s):

ASSAY

(CLA) LIMITED/PLACER DOME (CLA) LIMITEE

PDRILL

Work Report Details:

Claim*

P 1243113

P 1243114

P 1243115

P 3002893

External Credits:

Reserve:

Perform Perform Approve

so so114,485 314,485

SO SO

SO SO

514,485 S14,485

SO

Applied Applied Approve

S6.000 S6.000

S4,000 S4.000

S2.800 S2.800

S1.671 S1.671

S14.471 514,471

Assign Assign Approve Reserve

SO 0 SO

S10.471 10,471 S14

SO 0 SO

SO 0 SO

510,471 510,471 S14

Reserve Approve cue Date

SO 2005-SEP-12

514 2005-SEP-12

SO 2005-SEP-12

50 2004-JUN-20

514

S14 Reserve of Work Report*: W0460.00945

314 Total

Status

Remaining

of claim is based on information currently on record.

42A06NW2042 2.27886 OGDEN 900

2004-Jul-06 10:07 armstrongjJ Page 1 of 1

Ministry ofNorthern Developmentand Mines

Date: 2004-JUL-02

Ministers du Developpement du Nord etdes Mines Ontario

GEOSCIENCE ASSESSMENT OFFICE 933 RAMSEY LAKE ROAD, 6th FLOOR SUDBURY, ONTARIO P3E6B5

PLACER DOME (CLA) LIMITED/PLACER DOME(CLA) LIMITEE130 ADELAIDE STREET WESTP.O. BOX 43, SUITE 3201TORONTO, ONTARIOM5H 3P5 CANADA

Dear Sir or Madam

Tel: (888) 415-9845 Fax:(877)670-1555

Submission Number: 2.27886 Transaction Number(s): W0460.00945

Subject: Approval of Assessment Work

We have approved your Assessment Work Submission with the above noted Transaction Number(s). The attached Work Report Summary indicates the results of the approval.

At the discretion of the Ministry, the assessment work performed on the mining lands noted in this work report may be subject to inspection and/or investigation at any time.

If you have any question regarding this correspondence, please contact STEVEN BENETEAU by email at steve.beneteau@ndm.gov.on.ea or by phone at (705) 670-5855.

Yours Sincerely,

R. Schienbein

Senior Manager(A), Mining Lands Section

Gc: Resident Geologist

Kinross Gold Corporation (Claim Holder)

Placer Dome (Cla) Limited/Placer Dome (Cla)Limitee(Assessment Office)

Assessment File Library

Placer Dome (Cla) Limited/Placer Dome (Cla)Limitee(Claim Holder)

Christine M. Saari (Agent)

Visit our website at http://www.gov.on.ca/MNDM/LANDS/mlsmnpge.htm Page: 1 Correspondence 10:19579

MMITftY OF KOflTNilW

CANADA ISffifcWMining Land Tenure

Map

o0\

toO

so

COo o

S364000N

536300QN

46WXJOE 467000E 48MOOE 468000E 470000E 47(0006 4720006 473000E 474000E 47SOOOE -treoooe 4r?oooe

S3B7000N *iw* S387000N

5365000N

S363000N

SM2000N 5362000N

83iS8000N -' -'~ Vi

W61000N

473000E 474QOOE 4750QOE 476000E 47/OOOE 47BOOOE

General Information and Limitationsa nw1 M riot mtorviea for MvtytMomt, \wvoy, or tanti IKW aoWfWnaifcifi purpaiutv 11 ilw inftmratKin clMMn cm tn&nup lnocn^i**(t (m

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Date ; Time of Issue: Tue Jul 06 15:25:58 EOT 2004

TOWNSHIP l AREA PLAN OGDEN G-3979

ADMINISTRATIVE DISTRICTS l DIVISIONS

Mining Division PorcupineLand Titles/Registry Division COCHRANEMinistry of Natural Resources District TIMMINS

TOPOGRAPHIC Land Tenure

1,1 fliiiiwii Fugt** o

LAND TENURE WITHDRAWALS

w" S IMPORTANT NOTICES

LAND TENURE WITHDRAWAL DESCRIPTIONSW Wit If Bil TW*

f3 *CT NOTtCC rWaElVEDftt

aoot (.no UMwn A^PUCATION con *ffiRicu.Tun*L purwcnetSOW DON* flOE APfLICATlON200* B^IBJBCT TO UNO USE fErtMff *WTQ 4*MWT M*f*CM 28,! *8 aw* 5CC. 43C701MP78 O, R,0. IMHMiWW 4OT)ffBT *LW*e* RrRHTK RtBfRVATh^N A^XMO Au. UAKKfi * WVSflC

H. l W* MHUnfl CHlif*. Qlwwfl *flftm itiH *|M* l*s fUtyfK'i lo im FU0M) inn PrMKWt BIMnH li DtWH Win** IM- **Jw*nE*MHi*rtort*f4at-5') M)* It, Hi?

WWD Mt/12. t?M M.H,M,tt, WTMDPIAIVN FROM SBCJSCK'THBMIMNCUCT R

WH F*fc34,1^KI W-P-U'Oa MR f*b. JM. fltDS '

2.27886ASSAYPDRILL

— . 5359900N

— 53596QQN

53596QQN

5359500N

F'1243114

JVOption)

\\

— S35&400N

53S9300N

G04-0

1QQN

53S9QQQN

5358600N

53587QDN

(dervaiu Option)

S358600N

P 124311 PORCUPINE JOINT VENTURE

Surface Diamond DrillingGervais (Timmins West)

Spring 2004

42A06NW2042 2 .27886 OGDEN210

Mafic Intrusive Rocks Diabase

i CLAIM P 1243114

Clastic MetasedimentCongloner c. t c .dork brown) Greywacke/ArglUlte

Mafic MetavoJcanJcs

Ultramafic MetavolcanicsPer i JQ 1 1 tic Kona tiite

Textural Fields

COBfox

FRAG hlroM

PE8ps

SCH SFX

Cobble Flow Breccia Frag menial heterolithic Massive Pebble Po/ysutured Schistose Spinifex

Alteration Fields

aKceSi

SR TC

Ankertuation Cartxjnafizadon Silicificaffon Serpent/niza (ion Talcose

" Primary notation is in upper case. Secondary notation is in tower case.

-50pontoon

ROCK BJT H&S DeSCRIPTION

COJOTJ M 2100680?

Porcupine Joint Venture

SUBJECT Garva* axx D^nnnd Qranc

SCAi.t l 'MO ̂ ^^—^^^

42A06KW2042 2.27B86 OGDKN 220