assessment report on the nts 2d/12, 13gis.geosurv.gov.nl.ca/geofilepdfs/batch2013/002d_0756.pdfin...

Assessment Report on the

Paradise Lake Project Little Rattling Brook Property

Central Newfoundland Mineral Licences 014523M, 012384M and 016528M

NTS 2D/12, 13

By

David Evans, P. Geo. &

Spencer Vatcher, P. Geo.

for

Golden Dory Resources Corp.

March 2010

Expenditures (to Dec, 2009):

Licence Expenditure Required Excess 014523M $4,511.10 $3,927.00 $584.10 012384M $7,467.09 $3,387.28 $4,079.84 016528M $19,037.17 $8,698.25 $10,338.92

Table of Contents

1.0 SUMMARY .............................................................................................................................. 1

2.0 INTRODUCTION .................................................................................................................... 1

3.0 PROPERTY DESCRIPTION AND LOCATION .................................................................... 1

4.0 ACCESSIBILITY, CLIMATE, AND PHYSIOGRAPHY, ...................................................... 2

4.1 ACCESSIBILITY ......................................................................................................................... 2 4.2 CLIMATE ................................................................................................................................. 2 4.3 PHYSIOGRAPHY ....................................................................................................................... 2 4.4 LOCAL RESOURCES AND INFRASTRUCTURE ............................................................................... 2

5.0 HISTORY ................................................................................................................................. 3

5.1 GOVERNMENT ......................................................................................................................... 3 5.2 INDUSTRY ................................................................................................................................ 4

6.0 GEOLOGICAL SETTING ....................................................................................................... 7

6.1 PROPERTY GEOLOGY ............................................................................................................... 9

7.0 DEPOSITS TYPES ................................................................................................................... 9

7.1 REGIONAL EXAMPLES OF EPITHERMAL MINERALIZATION ........................................................ 10 7.2 LITTLE RATTLING BROOK PROPERTY MINERALIZATION ........................................................... 11

8.0 EXPLORATION PROGRAM ................................................................................................ 12

9.0 RECOMMENDATIONS/FUTURE PLANS .......................................................................... 17

10.0 REFERENCES ..................................................................................................................... 20

11.0 CERTIFICATE AND AUTHORIZATION .......................................................................... 22

APPENDIX I MINERAL LICENCE EXPENDITURES ............................................................. 24

APPENDIX II SAMPLE DATA ................................................................................................. 28

APPENDIX III ASSAY CERTIFICATES .................................................................................. 31

APPENDIX IV GEOPHYSICAL REPORT ................................................................................. 38

List of Figures

Figure 1. Mineral licences location map, Paradise Lake. ............................................................... 3 Figure 2. Historic till and geochemical data, Twin Pond area north of Paradise Lake. ................. 8

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Figure 3. Geological map of the Paradise Lake area (modified from Barbour et al., 2003). ....... 11 Figure 4. Total magnetic intensity map of the Paradise Lake and Twin Ponds area (Barbour et al., 2003). Obvious on the figure are the crescent-shaped anomalies underlying Paradise Lake and Twin Ponds, interpreted to represent intrusive units. These magnetic features also appear to be cut by several northwest-southeast-trending breaks. .................................................................... 12 Figure 5. Historic geochemical and till data superimposed upon total field magnetic map, Paradise Lake area. Highlighted are the five priority targets. ...................................................... 14 Figure 6. Location map showing IP survey lines and recce soil survey. Also shown is the historic MMI data collected by Altius. ...................................................................................................... 16 Figure 7. Soil geochemical sample location map, Line 2. Also shown are the locations of the 24 an 3 ppb Au samples. .................................................................................................................... 18 Figure 8. Rock sample location map, Paradise Lake area. ........................................................... 19

List of Tables

Table 1. Mineral licences, Paradise Lake. ...................................................................................... 2

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1.0 Summary The Little Rattling Brook Property was staked in late 2007 and early 2008 to cover: several gold occurrences including Island Pond, Tumbler Lake and Exploits River; numerous government lake sediment Au anomalies; and an area of anomalous Au-in-till and epithermal float in the Paradise Lake area. Several blocks of claims were also optioned from local prospectors. The property is underlain mainly by Silurian subaerial sedimentary rocks of the Botwood Group and has seen intermittent exploration mainly for gold since the mid-1980s. Golden Dory Resources is exploring the area for structurally-controlled and epithermal-style gold mineralization. In 2009, the property was divided into Island Pond and Paradise Lake projects. Since the 1980s the area has seen sporadic exploration for gold and a number of significant low-sulphidation epithermal-style occurrences have discovered, including Altius’ Moosehead and Rolling Pond properties and Cornerstone’s Island Pond property. Previous exploration activities in the Paradise Lake area (Battle Mountain Canada, and Altius Resources) outlined an extensive gold grain-in-till anomaly in the Paradise Lake-Twin Ponds area. Associated with this anomaly are widely scattered epithermal breccia boulders, particularly along the north shoreline of Paradise Lake. An airborne magnetic survey, flown for Altius Resources, showed distinctive magnetic breaks that appear to be spatially associated with the clusters of till anomalies. In the fall of 2009, Golden Dory Resources carried out a recce IP survey over two of the magnetic breaks. The first line was run north-south across the large till anomaly lying north of Twin Pond. The survey identified a possible structure corresponding to a northwest-southeast magnetic break. A second line was run in an east-west orientation over the northern end of a large magnetic anomaly underlying Twin Ponds. A zone of high resistivity was identified in the center of the survey line. A series of soil samples were also collected along this second line and one sample returned an assay of 24 ppb Au. An expanded IP survey and MMI sampling program is planned. 2.0 Introduction In the fall of 2009, Golden Dory Resources carried out a recce IP survey targeting a large gold-in-till-anomaly lying north of Paradise Lake and the previously identified airborne magnetic breaks. It was also a test to see if IP would be a useful exploration tool in area with thick till cover and no outcrop. 3.0 Property Description and Location The Paradise Lake project is situated in central Newfoundland southeast of the community of Grand Falls-Windsor and lies within National Topographic Map series 2D/12 and 13 (Figure 1). The property consists of 213 claims in 5 licences totaling 5,325 hectares registered in the name of Golden Dory Resources Corporation (Table 1). Licences 014523M, 014524M, 012384M and 014510M are under option from local prospectors David Mercer, Steven Courtney, Mrs. Martin McDonald and George Lannon. Licence 016528M is owned 100% by Golden Dory Resources.

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Licence # Licence Holder # claims Report Due Work Required

014523M Golden Dory Resources Corp. 13 2012/01/28 $3,927.00



014519M Golden Dory Resources Corp. 4 2011/01/24 $84.75 016528M Golden Dory Resources Corp. 159 2010/01/24 $8,698.25

Table 1. Mineral licences, Paradise Lake. 4.0 Accessibility, Climate, and Physiography, 4.1 Accessibility Access to the Paradise Lake project is provided by logging roads which originate from the former Abitibi-Bowater mill in Grand Falls-Windsor. Recent logging in the Paradise Lake area has resulted in improved access to much of the property. A muskeg trail which services the transmission line between Grand Falls-Windsor and Bay d’Espoir accesses the western portion of the project area. 4.2 Climate The climate is typical Newfoundland moderate temperate, with short, moderate to warm summers and long, generally moderate, winters. Although extremes of hot and cold can be encountered the ocean around the island has a moderating influence and temperatures in winter seldom go below - 150 to - 200 and in the summer seldom above 250 to 300 degrees. Fall conditions, with variably dry to wet weather and some frost in September, usually extend into November, when snow fall starts although no significant snow falls are usually encountered until late December or early January. Spring is generally late with snow lingering in the woods and on north facing slopes, until mid May or later 4.3 Physiography The Little Rattling Brook property exhibits a glaciated terrain typical of central Newfoundland and is covered by a thick blanket of till 2 to 4 m thick. Outcrop is sparse throughout much of the property except for the eastern section where bedrock is exposed in a series of northeast-trending ridges. Prominent northeast trending valleys and lakes reflect both a lithological and structural control which has been modified by glaciation. Most of the property is fairly low lying and exhibits a gentle rolling topography. Miguel Hill, a prominent landmark just to the west of Paradise Lake, has an elevation of 400 m. Much of the central area and western areas are covered by dense spruce forests or extensive peat bogs. Recent logging has produced extensive cutover areas in the Paradise Lake area. 4.4 Local Resources and Infrastructure

The community of Grand Falls-Windsor lies just to the northwest of the property. The town has a population of approximately 14,000 and is the local service centre for much of central Newfoundland. Most of the equipment and supplies required to carry out exploration activities can be obtained there. An international airport is located in the nearby community of Gander approximately 90 km east of Grand Falls-Windsor.

Figure 1. Mineral licences location map, Paradise Lake. 5.0 History 5.1 Government The Geological Survey of Newfoundland mapped portions of the area at a scale of 1 inch to one mile (Hirskevitch, 1949; 1950).The Bishop’s Falls area was also mapped at a scale of 1:250,000 by the Geological Survey of Canada (Anderson and Williams, 1970). The area was included in regional 1:50,000 scale geological mapping by the Newfoundland Department of Mines and Energy; NTS 2D/12 by Colman-Sadd and Russell (1988), 2D/13 by Kean and Mercer (1977), and 2D/14 by

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Dickson (1992). In 1988, results of analyses for Au, and associated elements in archived regional lake sediments collected by the Department of Mines and Energy were released for 2D/13 (Davenport et. al., 1988). A number of these samples contained anomalous concentrations of Au. 5.2 Industry Amoco Canada Petroleum Company In 1977, Amoco, as part of its regional Exploits Project, conducted stream and till geochemical surveys over a large portion of the Stony Lake Volcanics (Donovan, et. al., 1977). This was followed up in 1978 by detailed soil geochemical sampling over 4 grids covering portions of the Stony Lake Volcanics (Donovan, 1978). The surveys identified numerous, weak Cu, Pb, Zn anomalies. No further work was deemed necessary and the ground was never staked. Shell Canada Resources Ltd. Shell Canada Resources conducted a helicopter till sampling program over the Stony Lake Volcanics targeting Sn-W-Mo mineralization (Cant, 1980). The sampling was carried out at 1 km intervals along lines spaced 3 km apart. The samples were analyzed for Sn, W, Pb, Zn, Mo and U, but not for Au or Ag. A zone of anomalous Pb and Zn and weakly anomalous W was outlined to the north of Stony Lake. The anomaly was interpreted to be a dispersal train originating from a point located about 1 km northwest of the north end of Stony Lake. No further work was undertaken. Battle Mountain (Canada) Inc. In 1989, Battle Mountain staked an area covering Paradise Lake west to Miguel Hill. The company targeted this area for the following reasons (Cant, 1989): 1) Lake sediment and airborne radiometric anomalies (Au, As, Sb, K); 2) Potential epithermal gold environment (subaerial volcanics with pyritic rhyolite and extensional tectonics); 3) Recognition of epithermal mineralization in similar setting (Rhynie, Scotland); and 4) Tectonic and temporal similarities to Pajingo deposits in Queensland, Australia. In 1989, Battle Mountain carried out reconnaissance geological mapping, prospecting and stream and till geochemical surveys over claims in the Miguel Hill and Paradise Lake areas. Stream sampling proved ineffective, but the mapping and prospecting revealed extensive areas of finely disseminated pyrite, arsenopyrite and weak to moderate sercitization. The most heavily mineralized and altered area corresponds to a large lobe of flow-banded to brecciated, grey to pale green aphanitic, felsic volcanic rock located to the north of Miguel Hill and includes the Cliff Showing. The showing, which outcrops adjacent to Stony Brook approximately 2.5 km north of Stony Lake, consists of disseminated arsenopyrite and pyrite in sericitized felsic volcanic rock. Till sampling in

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this area identified two weakly anomalous dispersal trains, marked by elevated As, Sb and base metals. Seven of the till samples contained visible gold. Ten reconnaissance till samples were collected at 1 km intervals along the Paradise Lake road north of Paradise Brook. Six of the tills contained gold grains; four of the samples contained delicate grains. Battle Mountain reported that this area had the greatest potential for economic concentrations of gold mineralization. As a result Battle Mountain staked additional claims adjacent to Paradise Lake. In the fall of 1989 and the summer of 1990, Battle Mountain followed up on the results of their previous work (Burns, 1990). Additional till samples were collected in the vicinity of the Miguel Hill anomalies and the Paradise Lake area. No significant values were obtained in the Miguel Hill area. In the Paradise Lake area, sampling duplicated 3 of the original till samples containing visible gold. Additional till and soil sampling was completed and the till samples showed a broad gold grain in till anomaly between Paradise Lake (up to 48 grains) and Loon Pond (West Pond) and to the north of Twin Ponds (up to 41 grains). Sampling also showed a northward decrease in base metal values and a slight increase in Sb. Based on their sampling program Battle Mountain concluded that the sporadic high Au counts were the result of an increase in background levels over the central portion of the Paradise Lake claims. No further work was completed and the claims were dropped. Department of Mines and Energy In 1989, the principal author, working with the Department of Mines and Energy, located epithermal (geyserite eggs) float (Plate 1) along the Paradise Lake road north of Twin Pond. The float consisted of angular fragments encased in a concentric crystalline rind of quartz. The geyserite eggs float in a banded chalcedonic quartz matrix. Altius Resources Inc. (Paradise Lake Area) In 1998, Altius initiated an exploration program targeting the unsourced gold-in-till and gold in soil anomalies identified by Battle Mountain Canada (Churchill and Barbour, 1999). Work by Altius personnel lead to the discovery of additional epithermal and altered felsic float. Grab samples of the float assayed up to 8.9 g/t Au. Field work carried out in 1998 included detailed mapping, prospecting and till (HMC), soil and rock sampling. Altius described the epithermal boulders as being scattered along the northeast and west sides of Paradise Lake; along the road north of Paradise Lake; and east of Paradise Lake around South Twin Pond. The boulders comprise 10 cm to 2 m, scattered, dominantly angular, vuggy breccia boulders containing strongly altered wall rock fragments. Altius also located several geyserite egg boulders, a couple of boulders comprised of radiating quartz crystal (daisy rock), and a single boulder of lattice textured quartz found on the small peninsula at the northeast shore of Paradise Lake.

Plates 1. Cockade textures, banded quartz with geyserite eggs, Paradise Lake area.

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The topographic linear defined by Paradise Lake is overlain by a 500 m wide band of fine grained syenitic boulders which may indicate that a syenite sill underlies Paradise Lake. The epithermal boulders around Paradise Lake mimic the trend of the syenite suggesting a similar source area. A similar linear trend of monzogabbro to monzodiorite boulders occurs along Twin Ponds. East of Paradise Lake cleaved, gray to green-gray to slightly reddish siltstone outcrops along the Paradise Lake road. In 2002, Altius carried out further geological mapping, prospecting and an airborne magnetic survey of the Paradise Lake property (Barbour et. al, 2003). Prospecting of the epithermal boulders revealed that epithermal quartz occurred as large quartz-breccia boulders and boulders of syenite cut by quartz veining. The airborne survey lines were flown east-west at a line spacing of 200 and an elevation of 80 m. Magnetic anomalies underlying Paradise Lake and Twin Ponds coincide with the syenite and monzogabbro/monzodiorite boulder fields identified in the 1998 field program and were interpreted to be sills. Altius reported the epithermal breccias to be spatially associated with the syenite. The airborne also identified several northwest striking linears including one which terminates the northeast end of the syenite and another which marks the northeast margin of the monzogabbro. Trenching, which was planned to test the northwest-trending structure interpreted to terminate the syenite, was never completed. Altius indicated that this structure could be the source of the epithermal boulders. In 2003, Altius targeted the area of anomalous gold grains in tills lying to the north of Paradise Lake (Churchill, 2004). A total of 164 soil samples were collected from two recce grids and analyzed using the MMI technique. However, the MMI survey covered only the southern portion of the Au-in-till anomaly and did not test the area where a quartz boulder that assayed 8.9 g/t Au had been found 3 km north of Paradise Lake. Altius interpreted the overall lack of significant gold values in the epithermal boulders to represent the near surface expression of an epithermal system. An expanded MMI survey and a basal till sampling program was recommended, but were never implemented. In 2006 the Paradise Lake claims reverted to Crown Land and the area was staked by a group of local prospectors. Highlights of the Battle Mountain and Altius exploration programs are presented in Figures 2 and 3 below. 6.0 Geological Setting The Little Rattling Brook property lies within the Dunnage Tectonostratigraphic Zone. The property is underlain by Silurian rocks of the Botwood Group (Figure 3) and consists of sub-aerial red and green sandstones, and bimodal volcanic rocks. The group is interpreted to have been deposited in a successor basin conformably upon Silurian and older marine sedimentary rocks, however contacts are now fault modified. To the south the Botwood Group is interpreted to be overlain by a slightly younger and less deformed sequence of sub-aerial silicic volcanics referred to as the Stony Lake Volcanics. Large

Figure 2. Historic till and geochemical data, Twin Pond area north of Paradise Lake. Devonian gabbroic intrusive complexes lie to the northwest and southeast of the Botwood Group. A variety of mafic sills and dykes intrude the Botwood Group. The Botwood Group contains a weak to well developed, northeast trending, steeply dipping cleavage which is axial planar to open, locally tight and overturned, northeast and locally south plunging folds. The group is cut by northeast and northwest-trending faults.

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6.1 Property Geology The Paradise Lake area is marked by a paucity of bedrock exposure. Outcrops of deformed grey-green siltstone of the Botwood Group are exposed along the woods roads east of Paradise Lake. The shoreline of Paradise Lake is littered with boulders of fine-grained syenite (Plate 2) which appear to correspond with the roughly north-south trending magnetic anomaly which underlies the lake. Similar boulders have been located near Luff Lake and these are also spatially associated with a magnetic anomaly (Figure 3). The shoreline of Twin Ponds to the north of Paradise Lake is lined with boulders of monzodiorite or monzogabbro (Barbour et al., 2003). A north-south trending magnetic anomaly also underlies Twin Pond. From the total field magnetic map (Figure 4) it can be observed that the Twin Ponds and Paradise Lake magnetic anomalies are spatially associated with a major north-south trending structure extending from south of Paradise Lake north to Luff Lake. Northwest-southeast trending magnetic breaks appear to offset both the intrusions and the major structure.

Plate 2. Syenite boulders, view to north along western shore of Paradise Lake.

97.0 Deposits Types

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The Little Rattling Brook property has the potential is host both low sulphidation epithermal and structurally controlled gold mineralization. Regional and property examples of this mineralization are described below. 7.1 Regional Examples of Epithermal Mineralization Moosehead In the late 1980s, Noranda Exploration discovered gold-bearing float in an area just to the southeast of the Bay d’Espoir highway - Trans Canada Highway intersection, but exploration efforts failed to identify its source. Altius Minerals subsequently acquired the property and initiated an exploration program. Grab samples collected from the float, which covers an area measuring 300 m by 700 m, assayed up to 149 g/t Au (Noranda); with a highest value of 442 g/t Au (Altius) associated with comb-textured quartz containing sandstone fragments. In 1996, Altius and Royal Oak Mines completed a seven hole diamond-drill program, the fifth hole of which interested a 10 cm wide quartz vein that assayed 259.0 g/t Au at a depth of 41.9 m. A subsequent hole intersected a 15 cm vein at a depth of 30 m which assayed 259.0 g/t Au. This vein occurred within a structural zone marked by moderate to strong argillic/ilitic alteration. Fluid inclusion studies of the quartz float and gold-bearing quartz veins indicated a formation temperature of about 180º C. Altius has indicated that the Moosehead is analogous with the Pajingo/Vera-Nancy deposits in the Drummond Basin, Australia. In 1990, Teck Corporation optioned the property and completed a drill program designed to test northeast trending geophysical conductors. One hole intersected a 15 cm wide banded quartz vein containing visible gold and bournonite. Altius later reinterpreted the vein to be trending northwest and sub-parallel to the trend of the drilling. In 2001, Sudbury Contact Mines partnered with Altius and began another round of drilling that targeted the northwest-trending structures. Hole 13 intersected a 30 m wide mineralized structure that returned an assay of 11.05 g/t Au over 17.11 m., including a 1.5 m quartz vein that assayed 96.72 g/t Au. Rolling Pond Discovered by Noranda the Rolling Pond epithermal zone occurs approximately 40 km south of the Moosehead prospect. At Rolling Pond an extensive arcuate zone of epithermal breccia and quartz vein boulders is exposed over a width of 60 m and a strike length of 1100 m. (it is visible on Google Earth). The boulders exhibit vuggy textures with very large radiating quartz crystals (daisy textures). Drilling on the system has intersected extensive clay alteration. The zone strikes northwest and dips steeply northeast. Boulders from near the southern end of the zone have assayed up to 2.65 g/t Au (Barbour et. al., 2003).

Figure 3. Geological map of the Paradise Lake area (modified from Barbour et al., 2003). 7.2 Little Rattling Brook Property Mineralization Paradise Lake Epithermal style breccia boulders containing cockade-textures, banded quartz and geyserite eggs (Plate 2) were first identified in the Paradise Lake area during the late 1980s. Exploration work has outlined an extensive zone of boulders adjacent to Paradise Lake and Twin Ponds. The breccias are interpreted to be hosted by syenite as many of the breccia boulders contain altered

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Figure 4. Total magnetic intensity map of the Paradise Lake and Twin Ponds area (Barbour et al., 2003). Obvious on the figure are the crescent-shaped anomalies underlying Paradise Lake and Twin Ponds, interpreted to represent intrusive units. These magnetic features also appear to be cut by several northwest-southeast-trending breaks. syenite fragments (Plate 3). Geophysical surveys have outlined two crescent-shaped anomalies that correspond to the area of syenite float at Paradise Lake and monzogabbro float at Twin Pond. Several northwest-trending features, which are interpreted to be faults, are discernible on the surveys. Till geochemistry has outlined several significant gold in till anomalies. Prospecting by Altius located a quartz-breccia boulder which assayed 8.9 g/t Au. No trenching or diamond drilling has been completed on the property. 8.0 Exploration Program 12

During the winter of 2008 a regional “infill” lake sediment sampling program was completed over the licences. Not all lakes/ponds visited yielded adequate sample and a number of the lakes/ponds were inaccessible by snowmobile despite a number of concerted attempts. The samples were stored and sent for assaying in September of 2008. None of the submitted samples were anomalous with respect to gold. Also during the winter and spring of 2008 a major compilation of all historical data was undertaken. All geochemical data (soils, tills, lakes sediments and rock samples) locations were digitized. Historic geochemical data were plotted over the airborne Total Field Magnetic map produced by Altius. Five priority targets were identified based on magnetic features and highly anomalous gold grains concentrations in till (Figure 5). These targets in order of priority are: 1) an area of abundant gold grains in till occurring immediately north of Twin Ponds; 2) an area with anomalous gold grains in till east of Twin Ponds and north of Paradise Lake; 3) an area of anomalous gold-grains in till west of Twin Pond; 4) anomalous gold in lake sediment at Luff Lake; and 5) an area of panned gold at Mud Pond, west of Paradise Lake where gold was reportedly observed in panned beach material. These targets are discussed in detail below.

Plates 3. Quartz-breccia boulder, Paradise Lake, containing angular syenite fragments.

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Figure 5. Historic geochemical and till data superimposed upon total field magnetic map, Paradise Lake area. Highlighted are the five priority targets.

1) North of Twin Ponds: This is the largest gold grain till anomaly. It lies immediately north of Twin Pond in an area of thick glacial till. Gold grain counts of up to 41 grains were reported by Battle Mountain. It is also within this area that the 8.9 g/t Au quartz breccias boulder was discovered by Altius. From the total field magnetic map this area appears to coincide with a major northwest-southeast-trending break which separates the Twin Pond magnetic feature from several smaller, but similar north-trending features which extend to Luff Lake. An MMI survey completed by Altius Resources covers the extreme southern portion of this target area. Elevated Au-Ag values were reported that appear to correspond with the northern end a magnetic low developed along the western side of the Twin Pond magnetic feature where it is cut by the northwest-southeast magnetic break. This was identified as a potential trenching target by Altius.

2) East of Twin Ponds: This is an area of anomalous gold drains in till (up to 24 grains)

reported by Battle Mountain. An MMI survey data collected by Altius also indicates the area

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is anomalous in Au and Ag and was identified as a potential trenching target. This area also corresponds with a northwest-southeast-trending magnetic break.

3) West of Twin Ponds: This area of anomalous gold in tills up to 48 grains lies north of a northwest-southeast topographic linear which aligns with the north end of the Paradise Lake magnetic feature.

4) Luff Lake: Two government lake sediment samples from this area assayed 6 ppb Au and altered syenite boulders have been located along the eastern shore of Luff Lake. North-trending magnetic features underlie this area.

5) Mud Pond: Prospectors reported panning gold from beach sediment along the northeastern shore of Mud Pond. Boulders of altered sediment were also observed along the shoreline.

During the month of October 2009, Golden Dory Resources commissioned RDF Consulting Ltd. of St. John’s, Newfoundland to perform a reconnaissance Induced Polarization/Resistivity survey on its Paradise Lake Project located in the Grand Falls area of Central Newfoundland. A total of 2 days were spent from October 27th to October 28th, 2009 by RDF surveying two separate lines in the area. A Pole- Dipole array using six simultaneous dipoles was used with an “a”-spacing of 25 meters. Effective depth of penetration with this method is 75 meters. A total of 2.125 line kilometers of induced polarization/resistivity data was collected in the Paradise Lake project area (Figure 6). The surveys were implemented in an attempt to gain a better understanding of geology and specifically to locate the potential source of epithermal gold boulders known to be associated with gold mineralization in the area. Geophysical results were of high quality and successful in delineating a single anomaly of interest that may warrant follow-up exploration. Two areas were targeted; 1) Line 1- a north-south line traversed the area north of Twin Ponds crossing the gold in till anomaly and the northwest-southeast magnetic break, and 2) Line 2 - an east-west line which targeted the northern end of the Twin Ponds magnetic feature. The geophysical report and figures are attached in Appendix IV. Line 1: The first line of data collected was run through a cutover and bog area in a generally north to south direction. Chargeability data for this line suggest little or no sulphide bearing zones occur in this area. Resistivity data was also fairly flat, however, a resistivity low feature was detected between stations 800 N and 850N which may represent a potential structural feature in the area. No sulphides of significance are associated with this structure. A higher resistivity signature was noted at the beginning of the line and is strongest and closest to surface between stations 1675N and 1725N. Based on geological maps of the area it is believed that the variation in resistivity on this line is related to changes in stratigraphy of mapped geological units.

Figure 6. Location map showing IP survey lines and recce soil survey. Also shown is the historic MMI data collected by Altius. Line 2: Line 2 was performed in a west to east direction across the known geological trend of the area. Given the target, a single feature stands out from the survey data. A zone of high resistivity occurs in the center of the survey line between stations 525E and 650E. Based on a preliminary interpretation the zone becomes stronger at depth in overall resistivity and chargeability. Airborne geophysical data, till sampling and historic soil geochemistry data add support to the potential importance of this anomaly and additional work including trenching may be required to determine the anomaly source. As a follow-up to the IP survey soil samples were collected along Line 2. Two of the samples returned Au values of 24 and 3 ppb (Figure 7). The 23 ppb samples coincides roughly with the zone of resistivity outlined by the IP survey and is along strike from the anomalous MMI data reported by Altius. Reconnaissance prospecting also targeted the Luff Lake and Twin Pond west areas (Figure 8). Exploration expenditures are presented in Appendix I. Sample data and assay certificates are presented in Appendices II and III respectively.

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9.0 Recommendations/Future Plans The Paradise Lake area has the potential to host epithermal-style gold mineralization. Future exploration activities would include an expanded IP survey to delineate the resistivity anomaly identified on Line 2. It is recommended that widely spaced lines (400m-500m) be run in an east-west direction across the area of interest. A winter survey would allow for the survey to be run directly over the lakes which host many of the epithermal gold bearing boulders. As data from the initial survey suggest the area is very conducive to performing the IP method. A wider spaced array is also recommended to allow for deeper penetration in the area. Bouldery till and boggy terrain preclude trenching in the area west of Twin Ponds and in the Paradise Lake area in general preclude trenching. A soil geochemical or MMI survey is recommended to cover the resistivity anomaly west of Twin Ponds. Survey lines would also be run in an east-west orientation and would probably require a cut grid. A 1200 meter diamond drill program is recommended to test potential targets identified from the planned IP and soil survey. Respectfully Submitted, “Dave Evans” _______________________ D. T. W. Evans, P. Geo. March, 2009

Figure 7. Line 2 soil geochemical sample location map. Also shown are the locations of the 24 and 3 ppb Au samples.

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Figure 8. Rock sample location map, Paradise Lake area.

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10.0 References Anderson, F.D. and William, H.

1970: Gander Lake (west half), Newfoundland. Geological Survey of Canada, Map 1195A (geological map with descriptive notes).

Barbour, D.M., Churchill, R. and Barrett, S.

2003: First year , third year supplementary, fourth year supplementary and fifth year assessment report on diamond drilling, compilation, mapping and prospecting, Map Staked Licences 7510M, 8250M and 8251M (Paradise Lake property), 8182M (Chiouk brook property) and 7724M (Rolling Pond property), Miguel=s trend project, central Newfoundland, NTS 02D11, 02D12 and 02D13. Unpublished report Altius Resources Inc. 27 pages. (NDNR 002D/0452)

Burns, T.E.

1990: Geology and geochemistry of the Rattling Brook property Licences 3739, 3740 and 3857, Grand Falls and Gander districts, Newfoundland, NTS 2D/12 and 13. Unpublished report, Battle Mountain (Canada) Inc. 49 pages. (NDNR 02D/244)

Cant, J.W.

1980: Till sampling program, Miguel Hill area. Unpublished report Shell Canada Resources Limited. 1989: Geology and geochemistry of the Rattling Brook property Licences 3739 and 3740, Grand Falls and Gander districts, Newfoundland, NTS 2D/12 and 13. Unpublished report, Battle Mountain (Canada) Inc. 37 pages. (NDNR 02D/228)

Churchill, R.

2004: Second, fifth and sixth year assessment report on MMI sampling surveys, Map Staked Licences 7510M and 9791M, Paradise Lake property, central Newfoundland, NTS sheets 02D12 and 02D13. Unpublished report Altius Resources Inc. 23 pages. (NDNR 002D/0528)

Churchill, R.A. and Barbour, D.M.

1999: First year assessment report covering prospecting, mapping and geochemical sampling on the Paradise Lake property, central Newfoundland Map Staked Licences 6091M, 6092M and 6401M NTS sheets 2d/12 and 2D/13. Unpublished report Altius Resources Inc. 15 pages. (NDNR 002D/0396)

Colman-Sadd, S.P. and Russell, H.A.J.

1988: Miguels Lake (NTS 2D/12). Newfoundland Department of Mines and Energy, Map 88-50.

Davenport, P.H., Nolan, L.W. and Hayes, J.P.

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1988: Gold and associated elements in lake sediment from regional surveys in the Gander Lake map area (NTS 2D). Newfoundland Department of Mines, Mineral Development Division. (NDNR 2D/175)

Dickson, W.L.

1992: Mount Peyton (NTS 2D/14). Newfoundland Department of Mines and Energy, Map 92-22.

Donovan, P.

1978: Report on follow-up program for the Exploits project including geochemical and geological work for Exploits area in central and northeastern Newfoundland. Unpublished report Amoco Canada Petroleum Company Limited, 92 pages. (NDNR NFLD/1029)

Donovan, P, Hartley, C and Kacira, N 1977: Geochemical and geological report for the Exploits project in central and northeastern Newfoundland. Unpublished report Amoco Canada Petroleum Company Limited, 98 pages. (NDNR NFLD/1030).

Hirskevitch, M.E.

1949: Geology of the Grand Falls area, Newfoundland. Geological Survey of Newfoundland, unpublished report, 43 pages. 1950: Little Rattling Brook, Newfoundland. Geological Survey of Canada, preliminary map, Paper 50-17.

Kean, B.F. and Mercer, N.L.

1981: Grand Falls (NTS 2D/13). Newfoundland Department of Mines and Energy, Map 81-99.

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11.0 CERTIFICATE AND AUTHORIZATION David T.W. Evans P.Geo. CERTIFICATE of AUTHOR I, David T.W. Evans, P.Geo. do hereby certify that: 1) I am a consulting exploration geologist with a business address located at 55 Southcott Drive, Grand Falls-Windsor, NL., A2A 2P2, Tel 709-489-9121 2) I am a graduate of Memorial University of Newfoundland (1993) with a Master of Science (Geology) and have been employed as a geologist since 1982, for a total of 28 years. I previously worked as a project geologist with the Newfoundland Department of Mines and Energy and I have published extensively on gold and base metal mineralization within central Newfoundland. 3) I am a member (in good standing) of the Professional Engineers and Geoscientists of Newfoundland and Labrador (PEGNL), member number 02486. 4) I am a co-authour of this report entitled Report on the Paradise Lake Project, Little Rattling Brook Property, Central Newfoundland NTS 2D/11, 12, 13, 14. 5) I am the Exploration Manager with Golden Dory Resources. 6) I have visited the Paradise Lake property on numerous occasions as Exploration Manager for Golden Dory Resources. The information and data used in this report were obtained through fieldwork, from the data provided by Golden Dory Resources, industry reports on file with the Dept. of Natural Resources and from government reports as cited in the list of references. Dated this 15 day of March, 2010 Respectfully Submitted, “David T. W. Evans” David T.W. Evans, P.Geo.

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Spencer V. Vatcher, P.Geo. CERTIFICATE of AUTHOR I, Spencer V. Vatcher, P.Geo. do hereby certify that: 1) I am a consulting exploration geologist with a business address located at 338 Fowler’s Road, Conception Bay South, NL A1W 4K4, Tel 709-834-7862 2) I am a graduate of the Memorial University of Newfoundland (1985) with a Bachelor of Science (Geology) and have been employed as a geologist since 1988 for a total of 22 years. I have worked on gold, base metal, rare earth and uranium projects throughout Newfoundland and Labrador and Northern Ontario. I was employed as a geologist for 13 years with the Newfoundland Department of Natural Resources where I was the Manager of the Mineral Incentive Program. 3) I am a member (in good standing) of the Professional Engineers and Geoscientists of Newfoundland and Labrador (P.Geo.), member number 03345. 4) I am a co-authour of this report entitled Report on the Paradise Lake Project, Little Rattling Brook Property, Central Newfoundland NTS 2D/11, 12, 13, 14. 5) I am an independent consulting geologist. 6) I have visited the Paradise Lake property on numerous occasions as Lands Manager for Golden Dory Resources. The information and data used in this report were obtained through fieldwork, from the data provided by Golden Dory Resources, industry reports on file with the Dept. of Natural Resources and from government reports as cited in the list of references. Dated this 15 day of March, 2010 Respectfully Submitted, “Spencer V. Vatcher” Spencer V. Vatcher, P.Geo.

24

Appendix I Mineral Licence Expenditures

25

Licence Expenditure Summary

Licence #: 014523M # Claims: 13

Wages & Salaries $3,226.00Spencer Vatcher 2 days @ $425 Deon Humby 2 days @ $178 David Evans 4 days @ $505 Field Expenses Accommodations/meals (2 days 3 men) $175.00 Assays (3 rocks) $60.00 Trucks (Spencer Vatcher 2 days) $120.00Trucks (Dave Evans 2 days) $120.00 Gasoline $200.00 Exploration Supplies (Airphotos, topo maps, shipping, etc) $200.00 Subtotal: $4,101.00 Administration and Overhead (10%) $410.10 Total: $4,511.10 Expenditures Required: $3,927.00 Actual Expenditures: $4,511.10 Excess credits: $584.10

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Wages & Salaries $3,582.00Spencer Vatcher 2 days @ $425 Deon Humby 2 days @ $178 David Evans 4 days @ $505 Adam Pretty 2 days @ $178 Field Expenses Accommodations/meals (2 days 4 men) $300.00 Assays (23 soils) $460.00 Trucks (Spencer Vatcher 2 days) $120.00Trucks (David Evans 3 days) $180.00 Gasoline $300.00 Exploration Supplies (Airphotos, topo maps, shipping, etc) $200.00IP Survey ($4,938.79, approx. 1/3 of survey on this licence) $1,646.26 Subtotal: $6,788.26 Administration and Overhead (10%) $678.83 Total: $7,467.09 Expenditures Required: $3,387.25 Actual Expenditures: $7,467.09 Excess credits: $4,079.84

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Wages & Salaries $9,274.00Spencer Vatcher 4 days @ $425 Deon Humby 4 days @ $178 David Evans 8 days @ $505 Adam Pretty 4 days @ $178 Timothy Froude 4 days @ $400 Kevin Keats 2 days @ 505 Field Expenses Accommodations/meals (4 days 5 men) $1,300.00 Assays (14 rocks) $280.00 Trucks (Spencer Vatcher 4 days) $240.00Trucks (David Evans 6 days) $360.00Trucks (Timothy Froude 4 days) $240.00Trucks (Kevin Keats 2 days) $120.00Gasoline $1200.00Exploration Supplies (Airphotos, topo maps, shipping, etc) $1,000.00IP Survey ($4,938.79, approx. 1/3 of survey on this licence) $3,292.52 Subtotal: $17306.52 Administration and Overhead (10%) $1730.65 Total: $19,037.17 Expenditures Required: $8,698.25 Actual Expenditures: $19,037.17 Excess credits: $10,338.92

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Appendix II Sample Data

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Sample # Sample Type Easting Northing Comments

418F12K Float 599489 5399845 419F12K Float 598939 5399710 420F12K Float 598996 5399536 421F12K Float 599094 5399636 423F12 Float 600117 5399793

2451F12K Float 599035 5399540 1m semi-angular float with fine Py and a silver gray sulphide around shore of small pond.

406F12K Float 601199 5403530 407F12K Float 601235 5403464 408F12K Float 601357 5403658 409F12K Float 601389 5403981 410F12K Float 601782 5404208 411F12K Float 601873 5404188 412F12K Float 601887 5404215 413F12K Float 601899 5404238 414F12K Float 601915 5404283 415F12K Float 602491 5404342 416G12K Grab 602515 5404403 417F12K Float 602564 5404594

30

Soil Sample # Grid Coordinates Easting Northing 2051 L2 800E 600340 5401137 2052 L2 790E 600329 5401136 2053 L2 780E 600321 5401142 2054 L2 770E 600315 5401143 2055 L2 760E 600305 5401142 2056 L2 750E 600293 5401143 2057 L2 740E 600284 5401143 N/S L2 730E 600275 5401143 N/S L2 720E 2058 L2 710E 600254 5401145 N/S L2 700E 600245 5401141 N/S L2 690E N/S L2 680E 2059 L2 670E 600215 5401140 2060 L2 660E 600206 5401141 N/S L2 650E N/S L2 640E 2061 L2 630E 600176 5401140 2062 L2 620E 600163 5401144 2063 L2 610E 600158 5401142 2064 L2 600E 600145 5401143 2065 L2 590E 600137 5401139 2066 L2 580E 600127 5401147 2067 L2 570E 600118 5401148 2068 L2 560E 600107 5401148 N/S L2 550E 2069 L2 540E 600087 5401152 2070 L2 530E 600076 5401150 2071 L2 520E 600071 5401153 2072 L2 510E 600060 5401151 2073 L2 500E 600051 5401151

31

Appendix III Assay Certificates

38

Appendix IV Geophysical Report

LOGISTICAL REPORT FOR A RECONNAISANCE INDUCED POLARIZATION GEOPHYSICAL SURVEY

PERFORMED NEAR PARADISE LAKE GRAND FALLS AREA, CENTRAL NEWFOUNDLAND

WORK PERFORMED: OCTOBER 2009 Prepared for: GOLDEN DORY RESOURCES 50 McCurdy Drive Gander, NL Canada A1V 1A2 Attn: Mr. Tim Froude/Dave Evans Tel - 709-256-4201/4216 Fax - 709-256-4937 Prepared By: RDF Consulting Ltd.

Dean Fraser, P.Geo. 26 Blue River Place St. John’s, Newfoundland A1E 6C3 Tel: (709) 747-1648 November 10, 2009

i

RDF Consulting Ltd . Geophysical Logistics Report.

SUMMARY

During the month of October 2009, Golden Dory Resources commissioned RDF Consulting Ltd. of St. John’s, Newfoundland to perform a reconnaissance Induced Polarization/Resistivity survey on its Paradise Lake Project located in the Grand Falls area of Central Newfoundland. A total of 2 days were spent from October 27th to October 28t, 2009 by RDF surveying two separate lines in the area. A Pole- Dipole array using six simultaneous dipoles was used with an “a”-spacing of 25 meters. Effective depth of penetration with this method is 75 meters. The surveys were implemented in an attempt to gain a better understanding of geology and specifically to locate the potential source of epithermal gold boulders known to be associated with gold mineralization in the area. Geophysical results were of high quality and successful in delineating a single anomaly of interest that may warrant follow-up exploration. The following is a basic logistical report that summarizes the survey methodology and logistics involved in performing the induced polarization survey. All pseudosection maps and data files produced for this report have been appended to the accompanying data CD.

Golden Dory Resources ii Paradise Lake, Newfoundland


TABLE OF CONTENTS Page SUMMARY ........................................................................................................................................ i I. INTRODUCTION Scope ......................................................................................................................................... 1 Grid Location and Access .......................................................................................................... 1 Personnel .................................................................................................................................... 1 II. SURVEY SPECIFICATIONS Induced Polarization/Resistivity ................................................................................................ 3 III. PRODUCTION SUMMARY IP/Resistivity Production Summary ........................................................................................... 3 IV. LOGISTICS DISCUSSION Induced Polarization/Resistivity ................................................................................................ 3 Final Presentation ....................................................................................................................... 4 Interpretation .............................................................................................................................. 4 V. CONCLUSIONS AND RECOMMENDATIONS .................................................................... 5 VI. CERTIFICATE OF QUALIFICATIONS .............................................................................. 6 LIST OF FIGURES Figure 1: Paradise lake Location Map, Newfoundland ...................................................................... 2 LIST OF TABLES Table 1: Personnel employed on the Paradise Lake Geophysical Survey ........................................... 1 Table 2: Induced Polarization/Resistivity Survey Specifications ...................................................... 3 Table 3: IP/Resistivity Survey Production Summary ........................................................................ 3 LIST OF APPENDICES Appendix A: Geophysical Equipment Specifications Appendix B: IP/Resistivity Data and Maps Disk

Golden Dory Resources Ltd. Paradise Lake, Newfoundland


I. INTRODUCTION Scope This report summarizes the logistics and other information relating to a reconnaissance induced polarization/resistivity geophysical survey performed in the Paradise Lake area located near Grand Falls-Windsor, central Newfoundland. Golden Dory Resources commissioned the geophysical survey to be performed during the month of October 2009. A total of two days from October 27th to October 28th, 2009 were spent by RDF completing the survey. RDF Consulting Ltd. surveyed two reconnaissance lines, in two separate areas of the property. A total of 2.125 line kilometers of induced polarization/resistivity data was collected in the Paradise Lake project area. The object of the survey was to obtain a better understanding of overall geology and geophysical responses related to known epithermal gold mineralization in the area. The program was successful in delineating one anomaly of interest thought to be related to gold bearing epithermal quartz boulders in the area. A brief interpretation of the survey results have been provided in the interpretation section of this report. Grid Location and Access Access to the Paradise Lake area was easily obtained by a series of logging roads from the closest town of Grand Falls-Windsor, Newfoundland. The Paradise Lake survey area is located approximately 25 kilometers south of Grand-Falls-Windsor. Terrain in the area is gentle and generally consists of wooded areas, cutovers and bogs. Outcrop is quite restricted as a result of heavy till cover. Figure 1 provides a general location map for the Paradise Lake Project Area. Personnel Table 1 summarizes all personnel involved in performing and finalizing geophysical work on the Paradise Lake geophysical survey. Name Address Dates Worked Work Done Dean Fraser (P.Geo.) St. John’s, NL IP Survey and Report Dave Evans (P.Geo) Grand Falls, NL Transmitter Operator Spenser Vatcher (P.Geo) CBS, NL Helper Dion Humby Benton,NL Helper Adam Purdy Bishops Falls, NL Helper Table 1: Personnel employed on the Paradise Lake Geophysical Survey

1



Figure 1: Property Location map

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II. SURVEY SPECIFICATIONS Induced Polarization/Resistivity Table 2 summarizes survey equipment, array type and specifications related to the IP/Resistivity survey performed on the Paradise Lake Project. Appendix A lists the specifications of the State-of-the-Art Scintrex equipment used for the survey. Receiver Scintrex IPR-12 (Digital) Transmitter Scintrex TSQ-3 (3000W, 10A) Domain Type Time Domain Transmit Cycle Time 2 Seconds Receive Cycle Time 2 Seconds Array Type Pole-Dipole Array Number of Dipoles 6 (n=6) Electrode Spacing “a”=25m Maximum Depth of Penetration 75m Table 2: Induced Polarization/Resistivity Survey Specifications III. PRODUCTION SUMMARY IP/Resistivity Production Summary Table 3 summarizes survey coverage for the IP/Resistivity geophysical method.

Line Number Station Number From

Station Number To

Total Distance (km)

Paradise Lake Recce Lines L1 2025E 675E 1.350 L2 1025N 250N 0.775

Total: 2.125 km Table 3: Induced Polarization/Resistivity Survey Production Summary IV. LOGISTICS DISCUSSION Induced Polarization/Resistivity The IP/Resistivity survey on the Paradise Lake Property consisted of 2.125 line kilometers of coverage over 2 grid lines. A five man field crew was used to maximize production for the survey. As indicated in Survey Specifications, a pole-dipole array was also implemented. This electrode configuration consisted of 6 dipoles (n=1 to n=6) read simultaneously at an “a”-spacing of 25 meters. Maximum depth of penetration achieved by this setup is 75 meters.

3

Golden Dory Resources Paradise Lake, Newfoundland

RDF Consulting Ltd . Geophysical Logistics Report

Field logistics for the survey involvs placing a set of “infinity” electrodes a considerable distance from the end of the grid lines where it does not move for the entire survey. These electrodes are connected by a narrow 20 gauge geophysical wire to the IP transmitter. The general rule of thumb for such infinity locations is ten times the “a”-spacing times the number of dipoles (10 x (na)). From the transmitter, another set of wires are run to the end of the grid lines being surveyed to close the electrical circuit required to induce a current into the ground. A special 150 meter long potential electrode cable is then attached to the IP receiver and placed along precut and chained grid lines in the pole-dipole configuration. The entire setup is then leapfrogged to the end of each line collecting data as the operator moves at 25 meter intervals. At the end of each survey day, data is downloaded to a Laptop computer and processed using the GeoSoft Oasis Montaj V.5.08 data processing software. Pseudosections are plotted on a nightly basis. All data was backed up on CD ROM. FINAL PRESENTATION The following geophysical maps have been produced and are appended to the CD which accompanies this report: • Individual IP/Resistivity pseudosections (1:2500) Data processing and final presentations were produced using the GeoSoft Oasis Montaj v5.08 geophysical software. INTERPRETATION The following provides a preliminary interpretation for the two reconnaissance IP lines surveyed on the Paradise Lake Project. No inversion modeling has been performed on the data. Line 1: The first line of data collected was run through a cutover and bog area in a generally north to south direction. Chargeability data for this line suggest little or no sulphide bearing zones occur in this area. Resistivity data was also fairly flat however a resistivity low feature was detected between stations 800 N and 850N which may represent a potential structural feature in the area. No sulphides of significance are associated with this structure. A higher resistivity signature was noted at the beginning of the line and is strongest and closest to surface between stations 1675N and 1725N. Based on geological maps of the area it is believed that the variation in resistivity on this line are related to changes in stratigraphy of mapped geological units. Line 2: Line 2 was performed in a west to east direction across the known geological trend of the area. Given the target, a single feature stands out from the survey data. A zone of high resistivity occurs in the center of the survey line between stations 525E and 650E. Based on a preliminary interpretation the zone becomes stronger at depth in overall resistivity and chargeability. Airborne geophysical data, till sampling and historic soil geochemistry data add support to the potential

4



importance of this anomaly and additional work including trenching may be required to determine the anomaly source. Additional Work: Additional geophysical work is required in the Paradise Lake area. It is recommended that wide spaced line (400m-500m) be run in an east-west direction across the area of interest. A winter survey would allow for the survey to be run directly over the lakes which host many of the epithermal gold bearing boulders. As data from the initial survey suggest the area is very conducive to performing the IP method, a wider spaced array would allow for deeper penetration in the area. V. CONCLUSIONS AND RECOMMENDATIONS The data obtained over the selected areas of the Paradise Lake property was of high quality. The geological and surficial geology were very conducive to performing the IP survey allowing for good signal to noise ratios during the readings. As a result of these ground conditions, greater depths of penetration are achievable using this method. Daily production rates were lower than expected due to the fact that grid lines were not cut and RDF was responsible for maintaining straight lines using compass. L2 was cut prior to reading by the IP crew. Additional work is required in the Paradise Lake area. Wide spaced, deeper penetrating IP surveys should be performed during the winter months so data can be collected under the lakes in the area. All information pertaining to the survey can be found on the accompanying CD to this report.

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VI. CERTIFICATES OF QUALIFICATIONS I, R. Dean Fraser, of the City of St. John’s, Newfoundland do hereby certify: That I am a registered Professional Geophysicist/Geologist with the Association of Professional Engineers and Geoscientists of Saskatchewan and Newfoundland and Labrador. That I received my Bachelor of Science degree in Geology/Geophysics from Memorial University of Newfoundland in 1992. That I have practiced my profession as both an Exploration Geophysicist and Geologist continuously since 1992. That I am a Director of Golden Dory Resources and hold stock of the Company. Dated at St. John’s, Newfoundland this 22nd day of November, 2006. ________________________ Dean Fraser, P.Geo.

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APPENDIX A

Geophysical Equipment Specifications



APPENDIX B

IP/Resistivity Pseudosections and Data Disk

(SEE ACCOMPANYING CD)

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