Name of the Project
Curraghinalt gold project.

Location
Northern Ireland.

Client
Dalradian Resources.

Project Description
The project has proven and probable reserves of 1.44-million ounces of gold and 660 000 oz of silver, held in 5.24-million tonnes grading 8.54 g/t gold and 3.9 g/t silver. Measured and indicated resources are estimated at 2.1-million ounces of gold contained in 5.61-million tonnes grading 11.61 g/t gold. The feasibility study has excluded the significant inferred resource of 2.31-million ounces of gold, contained in a further 7.13-million tonnes grading 10.06 g/t gold.

The feasibility study completed on the Curraghinalt project has highlighted a project with high expected profitability and returns, as well as a strong economic case for advancing the project to development.

The mine will be operated using automation, mechanised underground mining methods and best-in-class processing. The dry stack tailings from the process will not come into contact with cyanide.

Curraghinalt is expected to be accessed through the existing exploration adit and a new ramp to be developed adjacent to the proposed plant site.

The new ramp will serve as the primary access to the mine for personnel and materials and the haulage of mineralised materials to the plant site.

Yearly ore production of up to 511 000 t is planned from a combination of a primary longitudinal longhole retreat, with some cut-and-fill mining methods and development along the veins.

Jobs to be Created
Direct employment is estimated at 300. Once the mine is in operation, it is expected to employ at least 350 people in permanent positions.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 5% discount rate, of $301-million and an internal rate of return of 24.4% using an assumed gold price of $1 250/oz. Payback is estimated at four years.

Value
The project has an initial capital cost, including contingency, of $192-million.

Duration
The project is expected to take 18 to 24 months to build.

Latest Developments
None stated.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Dalradian Resources VP: communications and corporate secretary Marla Gale, tel +1 416 583 5600 or email info@dalradian.com.