Environmental Assessment

Spanish Mountain's Project Description has been accepted by both the British Columbia Environmental Assessment Office and the Canadian Environmental Assessment Agency. The Project Description describes the technical, economic, social, environmental, heritage and health components of the construction and operation of the proposed gold mine located in central British Columbia, Canada.

The acceptance of the Project Description means that the Project has now entered the 'Pre-Application' phase of the Environmental Assessment and Permitting process. It is expected that public meetings will be scheduled shortly in connection therewith. The Company has already held initial public meetings in the communities of Likely, Big Lake and Williams Lake and has held several meetings with both the Williams Lake Indian Band and Soda Creek Indian Band. The Company signed a Protocol Agreement with the former in March, 2011, as further described in the new release dated March 17, 2011.

For further details on the Environmental Assessment and Permitting processes, please refer to the Government websites listed below.

British Columbia Environmental Assessment Office:

Canadian Environmental Assessment Agency:

Government of Canada Major Projects Management Office:

See Cautionary Statement

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