Separately, Advanced Explorations March 1 provided an update on its plans to implement alternative power solutions as part of its Roche Bay iron project development plan. The unique coastal location of the Roche Bay project affords the company the opportunity to utilize a turnkey, modular LNG power and distribution solution with the potential to reduce both AEI’s associated capital requirements while still capturing significant operational savings. These solutions have substantial benefits for the Roche Bay economics, and likewise can be applied to meet the challenges of Canada’s northern resource developments and remote communities. As such, the companies that have been engaged in developing these solutions are anticipated to leverage their knowledge and experience across the North to encourage economic growth and competitiveness for other remote mines and Northern communities. Studies to date indicate that the significant operational benefits both in environmental impact (about 40 percent reduction in CO2 emissions) and operating cost for liquefied natural gas-based power (technical studies indicated potential C$8-per-metric-ton savings that would reduce the total FOB cost to about C$42/t ). These operating cost savings afford the company the opportunity to trade off a turnkey power solution for long-term operating cost, while still retaining a net benefit to operating margins. Other resource companies are now evaluating LNG-based power as there are both advanced turnkey power production and supply and storage models being developed. As currently contemplated, AEI plans to conclude partnership agreements that will include joint LNG feasibility studies (power and LNG supply) based on delivery of a turnkey power solution. There are two independent partnerships being negotiated. The first partner would be granted the exclusive right to build and operate the LNG power facility should turnkey trade-off studies justify the benefits to AEI. The second would provide an LNG supply and storage concept as a turnkey solution to complement the LNG power plant. Given there are business sensitive details associated with these negotiations, details will be released as permitted, once the agreements are final. Studies provided by ArcStar Energy have demonstrated that the wind regime at the Roche Bay site is one of the best it has seen anywhere in the world. The initial economic evaluation for Roche Bay was done on a turnkey wind-power solution whereby ArcStar Energy would capitalize the wind power facilities on a long-term power purchase agreement at an about 40 percent discount to diesel power. Since completing its initial report, ArcStar has further evaluated technical and operational challenges and satisfied itself that a turnkey solution can be delivered upon verification of the wind regime, which is needed for ArcStar’s financing requirements. Wind energy can only be viewed as a means of delivering supplemental power, and in the initial study the business case was done as a diesel displacement benefit estimated to reduce consumption by 30 percent. This plan also can be incorporated into the LNG option as wind-delivered power will reduce consumption of non-renewable LNG, offering a possible hedge against rising future LNG prices. The results from Arcstar’s work may provide an updated perspective on the use of supplemental wind power as a broader solution for northern development. Advanced Explorations believes the alternative power initiatives are economic solutions for remote resource projects and communities and have the opportunity to contribute economic competitiveness and improved environmental stewardship to remote Northern mines. “We are confident that AEI and its stakeholders are at the forefront of the inevitable conversion from Arctic diesel towards LNG and supplemental wind power for resource projects in the Far North,” said Gingerich. “By working with developers on turnkey delivery models, this will provide additional options for communities and developers wishing to avoid the onerous infrastructure burdens when affordable power is the only real objective. AEI believes it will be is able to capture the first mover benefits generated by having motivated partners with a long-term regional focus in mind. We are convinced that the success of our alternative power initiatives will provide a long term sustainable advantage for all stakeholders.”

URANIUM – Kivalliq Energy Corp. March 1 reported the completion and filing of a revised NI 43-101 independent technical report updating the company’s Lac 50 Trend Resource at the Angilak uranium property in Nunavut. The independent technical report was prepared by Apex Geoscience Ltd. with the updated mineral resource estimate for the Lac 50 Trend Deposit contained therein, prepared under the direction of SIM Geological Inc., following the guidelines of the Canadian Securities Administrators NI 43-101 and Form 43-101F1. The report titled “Technical Report and Resource Update for the Angilak Property, Kivalliq Region, Nunavut, March 1, 2013” has been can be viewed at www.sedar.com and http://kivalliqenergy.com/projects/angilak/.

Separately, Kivalliq Feb. 28 reported preliminary metallurgical test results for the Lac 50 Trend uranium deposits. Optimized results from alkaline leaching indicate that 94.1 percent of uranium can be extracted in 48 hours and 95.9 percent of uranium extracted in 72 hours. Furthermore, from a preliminary yellowcake precipitation test, the uranium value attained was 71.9 percent for a final yellowcake product. “The final yellowcake produced from the leach solution was a low-impurity product. Available final yellowcake assays fell below the ‘Maximum Concentration Limit Without Penalty of ASTM C967-13, Standard Specification for Uranium Ore Concentrate’.” said Chuck Edwards, director of Metallurgy, AMEC. “The alkaline leaching process proposed for the Lac 50 Trend uranium deposits is similar to that used successfully for almost 30 years at Eldorado Nuclear’s Beaverlodge mill in northern Saskatchewan.” Beginning in June (2012), the Saskatchewan Research Council metallurgical testing program on core from Kivalliq’s Lac 50 Trend was designed to investigate uranium alkaline leaching optimization and perform a preliminary evaluation of the purity levels of the final yellowcake product. Objectives of the tests include maximizing uranium extraction through optimizing the alkaline leaching process; maximizing the recovery of sulphides through flotation; and comparing preliminary yellowcake product impurity levels to ASTM C967-13 uranium ore concentrate specifications. A 60-kilogram composite was derived from split drill-core pulp rejects submitted to SRC for analysis. Samples were selected from 51 holes drilled along 3.2 kilometers (2 miles) of strike length at the Lac 50 Trend Main Zone, Western Extension and Eastern Extension. Previous work indicated carbonate content above 13 percent and therefore alkaline leaching was considered the most effective extraction process for the Lac 50 Trend uranium deposits. Results from the alkaline leaching tests to date are highly encouraging. Optimized results indicate that a -74 µm (-200-mesh) feed at 70 degrees Celsius, atmospheric pressure, 50 percent pulp density, sufficient oxidation, and a re-agent addition rate of 70 kg per metric ton (50 kg Na2CO3 and 20 kg NaHCO3), extracts 94.1 percent of uranium in 48 hours and extracts 95.9 percent of uranium in 72 hours. Alkaline leaching is a selective process that can result in a pregnant leaching solution with relatively low impurity levels. The use of an alkaline leach circuit at the Lac 50 Trend could have additional benefits, including simple purification processes to produce yellowcake; an environmentally sensitive recirculated processing solution circuit resulting in reduced reagent use and uncomplicated effluent treatment; and simplified tailings handling with the possibility to utilize tailings for backfill during mining. A preliminary yellowcake precipitation was performed with the leach solution from the composite. Uranium in the pregnant solution was readily precipitated as sodium diuranate. The optimized uranium value attained was 71.9 percent for a final yellowcake product. In addition to uranium, the final yellowcake sample was analyzed for several major impurities.

MANAGEMENT – North Country Gold Corp. March 1 said Kerry Curtis has stepped down from the board of directors. “On behalf of my fellow directors, I would like to thank Mr. Curtis for his contribution to the advancement of the Three Bluffs project and the Committee Bay Greenstone Belt,” said North Country Gold President and CEO John Williamson. “We wish him well in his future endeavors.”