Kittila had proven and probable gold reserves of almost 5.2 million ounces comprised of 35 million tonnes of ore grading 4.7 grams of gold per tonne, as of December 31, 2011. The deposit remains open for expansion at depth and along strike.

Kittila Mine Mineral Reserve & Resource Data
As of December 31, 2011
CATEGORY & OPERATION	Au (g/t)	Ag (g/t)	Cu (%)	Zn (%)	Pb (%)	Ag (oz) (x000)	Au (oz) (x000)	Tonnes (x000)
Proven Reserves
Open Pit	3.86	-	-	-	-	-	40	319
Underground	6.11	-	-	-	-	-	75	383
Total Proven	5.09	-	-	-	-	-	115	702
Probable Reserves
Open Pit	5.66	-	-	-	-	-	146	802
Underground	4.63	-	-	-	-	-	4,916	33,060
Total Probable	4.65	-	-	-	-	-	5,062	33,862
Proven & Probable Reserves	4.66	-	-	-	-	-	5,177	34,564
Indicated Resources
Underground	2.46	-	-	-	-	-	1,026	12,978
Inferred Resources
Open Pit	3.87	-	-	-	-	-	34	276
Underground	4.58	-	-	-	-	-	1,130	7,677
Total Inferred Resources	4.55	-	-	-	-	-	1,165	7,953

^{*Mineral reserves are not a subset of mineral resources.}

Please refer to the company press release dated February 15, 2012 for further details on the mineral reserves and resources. The technical information has been prepared under the supervision of, and reviewed by, Marc Legault P.Eng., Senior Vice-president Project Evaluations, and a “Qualified Person” for the purposes of National Instrument 43-101. The Qualified Person responsible for the Kittila Mine mineral reserves estimate is Daniel Doucet, ing., Corporate Director of Reserve Development.