Bell Creek

Bell Creek is located immediately adjacent to our Vogel/Schumacher property in the Timmins gold mining district. The Bell Creek mine contains an indicated resource of 50,641 ounces of gold, comprising 190,922 tonnes at 8.25 grams per tonne, as well as in inferred resource of 85,888 ounces of gold comprising 346,936 tonnes at 7.70 grams per tonne.* The existing shaft extends to a depth of 280 metres, which provides access to the above resources. The Bell Creek mill has a capacity of processing up to 1,500 tonnes per day utilizing gravity concentration, cyanide leaching and carbon-in-pulp gold absorption processes. It has been on care and maintenance since 2002. Lake Shore's preliminary review indicates the mill can be made operational quickly and with low capital cost.

 

 

*These resources were estimated using definitions and guidelines that conformed to National Instrument 43-101 as reported by the owners of the PJV in 2004. For details of the Bell Creek acquisition refer to press release dated January 31, 2007.