The Vista South Coal Project currently has a JORC and NI 43-101 compliant Measured and Indicated Coal Resource of 470.5 million tonnes.

Coal Resource – Vista South Coal Project

Resource Classification

Million Tonnes

%

Measured

210.6

20%

Indicated

259.9

24%

Measured and Indicated

470.5

44%

Inferred

604.5

56%

Notes:

  1. Vista Extension Resource estimates effective May 8, 2012, Vista South Resource estimates effective May 8, 2012 and Vista Resource estimates effective March 31, 2014.
  2. CIM definitions were followed for this mineral resource estimate.  An “Inferred Mineral Resource” is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological continuity. Investors are cautioned not to assume that all or any part of an inferred resource exists, or is economically or legally mineable.
  3. The assumptions related to the Resource estimate are as follows:
        a.  Minimum Seam Thickness 0.50m
        b.  Minimum Separable Parting Thickness 0.30m
        c.  Model based on 87 rotary holes and 38 core holes
        d.  Coal Quality Model consists of proximate results from +-1,200 samples
        e.  Coal Washability Model based on detailed results from 300 samples
        f.   In Situ Moisture assumed 10% in the west to 12% in the east.
Vista & Vista South Projects: Drill Hole Locations
Vista & Vista South Projects: Drill Hole Locations