Name of the Project
Bateman gold project.

Location
The project is located in the Red Lake district, in Ontario, Canada.

Project Owner/s
Battle North Gold.

Project Description
A feasibility study for the Bateman gold project has demonstrated the shovel-ready project’s commercial viability.

The project has a life-of-mine (LoM) of 8.2 years from initial production, with LoM payable gold production estimated at 602 987 oz.

The feasibility study envisages mining 403 stopes, comprising more than an estimated 3.5-million tonnes of ore over the estimated LoM.

The feasibility study benefits from more than $770-million in sunk capital, including a fully operational state-of-the-art 1 800 t/d mill, a 730-m-deep shaft and hoisting facility, an existing tailings management facility and more than 14 000 m of developed mine workings.

The project has an existing tailings management facility (TMF) and operating water treatment plant. The feasibility study includes the expansion of the TMF and the addition of an ammonia treatment unit to the current water treatment plant.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
In the base case, the project has an after-tax net present value, at a 5% discount rate, of $305-million and an internal rate of return 50.3%, with a payback of 3.6 years.

Capital Expenditure
Initial capital expenditure is estimated at $109.3-million, including a 10% contingency.

Planned Start/End Date
The ramp-up period is an estimated 21 months to commercial production and initial production is expected to start about seven months after construction gets under way.

Latest Developments
Battle North has started the development planning for Bateman, including a risk assessment.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Battle North Gold, +1 416766 2804 or email IR@battlenorthgold.com.