POLYMETALLIC – Constantine Metal Resources Ltd. Aug. 19 reported the participation by Japan Oil, Gas and Metals National Corp. in the Palmer copper-zinc-gold-silver project in Southeast Alaska. JOGMEC, a government organization with a mandate to secure a stable supply of natural resources for Japan, provides financial assistance to companies for overseas exploration. Under the terms of an equity funding agreement with Constantine’s partner Dowa Metals and Mining Co. Ltd., JOGMEC may fund up to a maximum of 45 percent of Dowa’s earn-in expenditures on the Palmer project. Dowa is currently in the second year of an option in which the Tokyo-based company can earn a 49 percent joint venture interest in Palmer by investing US$22 million over four years. JOGMEC can now earn a maximum of 45 percent of Dowa’s interest. Dowa has the pre-emptive right to repurchase JOGMEC’s equity interest. JOGMEC’s funding participation is effective immediately and includes financial contributions to the 2014 exploration season that includes 10,000 meters of drilling. The US$6.2 million budget for 2014 remains unchanged. Constantine President and CEO Garfield MacVeigh said, “We are very pleased to welcome JOGMEC to the Palmer project. The funding agreement is a strong endorsement of the project’s potential and provides greater financing certainty for continued advancement of the Palmer project.” Constantine continues to hold a 51 percent interest in the Palmer project.

GOLD – Goldrich Mining Co. Aug. 19 provided an update on activities at its Chandalar gold project in northern Alaska. In late March and early April, Goldrich NyacAU Placer LLC, a 50-50 joint venture between Goldrich and NyacAU LLC, completed the mobilization of equipment and supplies needed for its placer mining operation this summer at Chandalar, Alaska. The primary piece of equipment delivered to the mine site was a feeder for an expanded plant that will increase production capacity to 600 cubic yards per hour, from the current 125 lcy/hr. Plant expansion is scheduled to be completed in stages through 2016. Once finished, processing facilities will consist of a primary feeder system with multiple gravel screens and gold recovery tables and an expanded settling pond system for additional water conservation and quality control. The full capacity of the feeder will be realized as additional gravel screens and gold recovery tables are added in stages. All mining permits for an expanded mine were received in August 2013 and Goldrich NyacAU Placer was able to produce about 680 ounces of gold during the last several weeks late of the 2013 production season operating at partial capacity. The new permit expanded the mine site area, including the area for a new airstrip, from approximately 10 to 350 acres. This provides an increased area for stockpiling topsoil, a larger settling pond system with greater capacity to ensure water quality and availability, and room to allow concurrent mine reclamation as the project advances. After the 2013 production season and on receiving all the mining permits, the existing plant was able to be disassembled and moved from a tight position up the mountain to a lower and more easily accessible broader part of the valley floor. The new site will facilitate maximum and efficient production under the expanded mine plan. The expanded plant and recirculating pond system are currently under construction and are expected to be near completion in 2014 except for certain equipment with longer lead manufacturer time being constructed outside of Alaska. That equipment will not be available until the later part of the 2014 and will be mobilized to Chandalar during the 2015 winter trail. Goldrich NyacAU Placer has concluded it is prudent, more efficient, and in the best interest of the operation to focus on the construction of the plant. As a result, the partnership will not process any pay gravel in 2014. On the exploration front, Goldrich completed advanced petrographic studies of core samples from lode drilling on the Chandalar gold property. The company said the new data refines the orogenic model that has historically guided exploration at Chandalar and offers a fresh approach to future exploration. Goldrich geologists concurred the studies are important for exploration as the pegmatite textures in outcrop and drilling and the radiogenic activity from accessory minerals associated with pegmatite-veins may indicate proximity to intrusive-related mineralization and may provide a highly useful tool for gold mineralization discovery. The petrologic study involved detailed microprobe examination of samples taken from veins in the Chandalar gold system that exhibit characteristics of pegmatite, an igneous rock deposited during emplacement of a granitic intrusive body. All of the samples contain numerous accessory minerals that commonly derive from magma or late stage magmatic fluids, including monazite, thorite and xenotime. Some of the accessory minerals co-precipitated with gold, indicating that late intrusive stage hydrothermal fluids migrated upward along shear zones within which the lode gold mineralization is emplaced. Importantly, radiogenic activity is associated with the accessory mineral suite. Goldrich believes rigorous follow-up rock sampling and radiogenic surveys may result in more effective selection of high-priority drill sites, an important factor considering the expansive size of the Chandalar system. In August, Goldrich engaged a contractor and geologists to perform additional airborne magnetic and radiometric studies across the entire Chandalar property. The data obtained from these studies will be compiled with data already derived from sampling, trenching, drilling and geophysical testing to produce a 3D model of the Chandalar prospects and their geological setting. The results of these studies will assist us in determining methods and targets for future exploration.