nuukfjord 43-101

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1.0 TITLE PAGE

TECHNICAL REPORT ON THE NUUK GOLD PROVINCE PROJECT, NUUK FJORD AREA,

WEST GREENLAND

PROPERTY Storoe License (2007/59) 878Km2 Isua License (2005/25) 179 Km2

Iqasoq License (2008/27) 193 Km2 Qilanngaarsiut License (Pending) 27Km2

LOCATION

Storoe Centered Near: 64o42' N Latitude, 51o06' W Longitude

Prepared for:

Nuukfjord Gold Ltd. Suite 520-470 Granville Street Vancouver, British Columbia

Report prepared by

Peter A. Christopher PhD., P.Eng. PAC GEOLOGICAL CONSULTING INC.

3707 West 34th Avenue Vancouver, British Columbia

V6N 2K9

September 18, 2009

PAC GEOLOGICAL CCONSULTING INC. SEPTEMBER 2009

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TABLE OF CONTENTS

3.0 EXECUTIVE SUMMARY AND RECOMMENDATIONS ................................................................... 3 3.1 INTRODUCTION AND PROPERTY DESCRIPTION ................................................................ 3 3.2 LOCATION, INFRASTRUCTURE AND ACCESS..................................................................... 3 3.3 OWNERSHIP AND TERMS OF AGREEMENT ......................................................................... 4 3.4 GEOLOGY..................................................................................................................................... 4 3.5 EXPLORATION CONCEPT & DEPOSIT MODEL..................................................................... 5 3.6 MINERALIZATION...................................................................................................................... 6 3.7 STATUS OF EXPLORATION, DEVELOPMENT AND OPERATIONS.................................... 8

Table 3.1 Writer’s Check Samples from NGP. ...................................................................................... 9 3.8 CONCLUSIONS AND RECOMMENDATIONS ....................................................................... 10 3.9 OPINION OF MERIT .................................................................................................................. 10

4.0 INTRODUCTION AND TERMS OF REFERENCE ...................................................................... 11 4.1 INTRODUCTION........................................................................................................................ 11 4.2 TERMS OF REFERENCE AND PURPOSE............................................................................... 11 4.3 SOURCES OF INFORMATION ................................................................................................. 11 4.4 FIELD INVOLVEMENT OF THE WRITER.............................................................................. 11

5.0 RELIANCE ON OTHER EXPERTS ............................................................................................... 12 6.0 PROPERTY DESCRIPTION AND LOCATION............................................................................ 12

6.1 PROPERTY AREA AND LOCATION....................................................................................... 12 Table 6.1 Pertinent Data on NGP Licenses. ......................................................................................... 12 Figure 6.1 General Location Plan For Nuuk Area, Greenland. ............................................................ 13 Figure 6.2: Location of NGP Licenses. ................................................................................................ 14

6.2 LAND TENURE, AND LEGAL AGREEMENTS...................................................................... 14 Table 6.2 Summary of Payment Schedule and Nuukfjord/NunaMinerals Deal Summary................... 15

6.3 GREENLAND MINING LAW.................................................................................................... 16 TABLE 6.3: SUMMARY OF GREENLAND MINERAL TENURE * .................................................. 16 6.4 LEGAL SURVEY ........................................................................................................................ 17 6.5 LOCATION OF MINERALIZATION AND FACILITIES......................................................... 17 6.6 ENVIRONMENTAL LIABILITIES............................................................................................ 17 6.7 PERMITS ..................................................................................................................................... 17

7.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY ....................................................................................................................................... 18

7.1 ACCESS AND PROXIMITY TO POPULATION CENTRES ................................................... 18 7.2 PHYSIOGRAPHY, TOPOGRAPHY, ELEVATION, CLIMATE AND VEGETATION........... 18 7.3 SURFACE RIGHTS, POWER, WATER, PERSONNEL, TAILINGS SITES, PROCESSING PLANT SITES ......................................................................................................................................... 19 7.4 ENVIRONMENTAL CONCERNS ................................................................................................... 19

8.0 HISTORY......................................................................................................................................... 19 Table 8.1 Summary of Exploration History of the NGP. ..................................................................... 21 Year ...................................................................................................................................................... 21 Operator................................................................................................................................................ 21 Work Program ...................................................................................................................................... 21

8.1 HISTORIC DRILLING AND SAMPLING................................................................................. 22 Table 8.2 Historic Drilling Through 2008 on NGP. ............................................................................. 22

9.0 GEOLOGICAL SETTING............................................................................................................... 23 9.1 REGIONAL GEOLOGY AND TECTONICS (Figure 9.1& 9.2) ................................................ 23 9.2 PROPERTY GEOLOGY (Figures 9.3, 9.4, 9.5, & 9.6) ............................................................... 23

Figure 9.1: Geology of Greenland ........................................................................................................ 25 Figure 9.2 Generalized Geology of License Areas. .............................................................................. 26 Figure 9.3 Geology Map of Central Storø (from Ostergaard, 2009). ................................................... 27 Figure 9.4 Qussuk Area Showings and Amphibolite Zones (From Nuna, ........................................... 28 Figure 9.5 Swan North Geology, Drillhole Locations and Writer’s Sample Location. ........................ 29 Figure 9.6 Geology of Plateau Prospect Showing Drillhole & Writer’s Sample Locations. ................ 30

TECHNICAL REPORT ON THE NUUK GOLD PROVINCE PROJECT, GREENLAND

______________________________________________________________________________________ PAC GEOLOGICAL CCONSULTING INC. SEPTEMBER 2009

10.0 DEPOSIT TYPE............................................................................................................................... 31 10.1 Archean Gold (Figures 10.1& 10.2) ............................................................................................. 31 10.2 Nuuk Gold Province Exploration Approach................................................................................. 31

Figure 10.1 Model for Archean Greenstone Belt Gold Deposits (Pulsen et al., 2000)......................... 32 Figure 10.2 Simplified Model of Geological Environment and Mineral Occurrences NGP (Stensgaard and Stendal, 2007). ............................................................................................................................... 32

11.0 MINERALIZATION........................................................................................................................ 33 Figure 11.1 Qingaaq Prospect Showing Locations for BD and Main Mineralized Zones.................... 35

11.1 GENERAL DESCRIPTION......................................................................................................... 36 11.2 EXPLORATION TARGETS ....................................................................................................... 36 11.3 EXPLORATION POTENTIAL ................................................................................................... 37

12.0 EXPLORATION BY THE ISSUER ................................................................................................ 37 Figure 12.1 Location of Qussuk 2009 Boreholes and Surface Saw channel Samples. ......................... 39

13.0 DRILLING ................................................................................................................................... 40 Table 13.1 Selected Drill Intersections From the Main Zone and the BD Zone, Qingaaq prospect, Storø. .................................................................................................................................................... 40 Figure 13.1 Drillhole Plan at the BD and Main Zones (Storoe Deposit) at Qingaaq Mountain Prospect............................................................................................................................................................... 41 Figure 13.2 Qingaaq Longitudinal Section 1. (from Nuna (Loc. see Fig. 13.1). .................................. 42 Figure 13.3 Qingaaq Longitudinal Section 2 (From Nuna (Loc. see Fig. 13.1). .................................. 43 Table 13.3 Summary of Historic Drilling by NunaOil and Nuna on NGP. .......................................... 45

14.0 SAMPLING METHODS AND APPROACH.............................................................................. 46 14.1 SAMPLING BY NUNA............................................................................................................... 46 14.2 Sample Preparation, Analysis and Security ...................................................................................... 46

Table 14.1 Laboratory and Analytical Procedure Summary................................................................. 47 14.3 INSPECTION BY THE WRITER ............................................................................................... 48

15.0 DATA VERIFICATION and QA/QC Procedures. ...................................................................... 48 Table 15.1 Writer’s Check Samples from NGP. .................................................................................. 49

16.0 ADJACENT PROPERTIES ............................................................................................................. 50 17.0 MINERAL PROCESSING AND METALLURGICAL TESTING............................................. 50 18.0 MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES........................................ 50

Table 17.1 Data for Micro-bulk Samples from NGP............................................................................ 51 19.0 OTHER RELEVANT DATA AND INFORMATION ................................................................ 51 20.0 INTERPRETATION AND CONCLUSIONS.............................................................................. 51 21.0 RECOMMENDATIONS AND BUDGET....................................................................................... 52

21.1 PHASE 1 PROGRAM.................................................................................................................. 52 21.2 PHASE 2 PROGRAM.................................................................................................................. 52

Table 21.1 Budget for NGP Recommended Phase 1 Program. ............................................................ 53 Table 21.2 Budget for NGP Success Contingent Phase 2 Program...................................................... 53

21.3 OPINION OF MERIT .................................................................................................................. 53 Figure 21.1 Proposed Diamond Drill Hole Store (Qingaaq) Main Zone. ............................................. 54

22.0 REFERENCES AND SOURCES OF INFORMATION.................................................................. 55 23.0 SIGNATURE, STAMP AND DATE................................................................................................... 56 24.0 CERTIFICATE................................................................................................................................. 57


PAC GEOLOGICAL CONSULTING INC. SEPTEMBER 2009

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3.0 EXECUTIVE SUMMARY AND RECOMMENDATIONS

3.1 INTRODUCTION AND PROPERTY DESCRIPTION Nuukfjord Gold Ltd. (“NGL”) through an agreement dated June 23, 2009 and subsequent purchase agreement has acquired an option to earn up to 65% interest in NunaMinerals A/S (“Nuna”) 100% interest in the c. 1277km2 Nuuk Gold Province Project (“NGP”) in West Greenland (Nuna NR dated June 23, 2009). The project is an exploration stage property that has the advanced Storoe gold deposit (also Storø) and several other significant gold prospects at Qussuk in a 20km gold bearing Archean metamorphosed belt. Nuna explored the NGP since the 1990s and has conducted extensive surface geochemical and geophysical work and drilled c. 17,000 meters of diamond drilling mainly on the Storoe (Main, BD), Swan and Plateau prospects. NGL commissioned PAC Geological Consulting Inc. to prepare a technical report reviewing and summarizing exploration data and mineral potential of the NGP and recommend, if deemed appropriate, a program of exploration work on the project. The writer prepared this report in compliance with National Instrument 43-101 and followed Form 43-101F1. The report is required by NGL for supporting documentation to be filed with the TSX Exchange. The writer, an independent Qualified Person, as defined by National Instrument 43-101, spent from July 11th to July 14th, 2009 on the property and in Nuna’s Nuuk, Greenland office examining, sampling and assessing NGP gold prospects and gathering background information. The writer collected 12 check samples and observed the preparation of these samples in Nuuk at a modern laboratory preparation facility operated by Activation Laboratories Ltd. (“Actlabs”).

3.2 LOCATION, INFRASTRUCTURE AND ACCESS The NGP covers an area of approximately 1277 km2 and covers over 40 kilometres of metamorphosed greenstone in the Nuuk Gold Province or Belt of West Greenland. The project involves seven non-contiguous blocks with six under concession and a recent application pending for the 27km2 Qilanngaarsiut block. The seven blocks are within a rectangular area defined by latitudes 63°45’N to 65°30’N and longitudes 51°40’W to 49°30’W and extend northeast for 150km from 20km south of Nuuk, the capital of Greenland. The NGP, Storoe License, is centered near 64°42' N Latitude, 50°06' W Longitude. Access to most parts of the property is by boat with helicopter used to support crew and drill moves and to move some supplies and samples. Greenland obtains most of its electrical power from hydro projects and a number of local run of river power possibilities exist. Nuuk, the capital and largest city in Greenland, is within the NGP area and provides a source of supplies and services. The NGP concession blocks cover ground that extends from near sea level to low mountains with rugged relief. Glaciers lie east of the NGP and to



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control cost, drill program are generally conducted between May and October. Geophysical program can start earlier and extend later but geological mapping is best done during summer months when most of the snow has melted.

3.3 OWNERSHIP AND TERMS OF AGREEMENT On June 23, 2009, Nuna, the main mineral exploration company in Greenland, signed an option agreement with Nuukfjord Gold Mines Ltd. (NGM) covering the 1277km2 Nuuk Gold Project (NGP) in the Nuuk Gold Province in West Greenland. Nuukfjord Gold Ltd. (“NGL”) through subsequent purchase agreement has acquired the NGM option to earn up to 65% interest in the NunaMinerals A/S (“Nuna”) interest in the c. 1277km2 Nuuk Gold Province Project (“NGP”) in West Greenland (Nuna NR dated June 23, 2009). The NGP is an amalgamation of select parts of the Storoe exploration license which contain the advanced Storoe Gold Deposit and the Qussuk Gold Prospect, the Isua exploration license, the Igasoq exploration license and the Qilanngaarsuit exploration license (under application). Under the option agreement term, NGL is able to earn, incrementally through four phases, a 65% interest in Nuna’s 100% interest in the NGP by funding Cdn $23,000,000 (c. DKK 106 million) of exploration expenditures by September 30, 2013. Upon NGL earning a 49% interest or 65% interest a joint venture to develop the NGP will be formed between NGL and Nuna (see Table 6.2). Nuna remains the operator of the NGP and NGM controls the funding.

3.4 GEOLOGY The gold prospects in the Nuuk Fjord area on the NGP are located in the strongly deformed and metamorphosed rocks of Archean age. The area is an extension of the North American Craton and correlates with the Nain Province in Labrador, Canada. The geology of the Nuuk area is dominated by grey orthogneisses formed during episodes of crustal growth. The gneisses representing crustal terranes of different ages were amalgamated during the Neo-Archean (c. 2.7-2.6 Ga). The terranes are often separated by structurally complex, deep-seated tectonic boundaries. Supracrustal belts, consisting of metavolcanic and minor metasedimentary rocks, occur within or between crustal blocks. The supracrustal rocks have similarities to Archean greenstone belts in Ontario and Quebec but the metamorphic grade is generally amphibolite to granulite facies, so the metamorphic rocks have different mineralogy. The metamorphic terrane once called the Akulleq terrane (McGregor et al., 1991) is now, with better age control, subdivided into the Eo-Archean Faeringehavn and Iskasia terranes, the Meso-Archean Kapisillit terrane and the Neo-Archean Tre Brødre terrane with the Faeringehavn and Tre Brødre terranes occupying much of the central and south-western part of Nuuk Fjord.

The gold prospect on Storoe is hosted by metavolcanic and metasedimentary rocks of the Storoe supracrustal belt, bounded to the west by the NNE, 300-400m wide, Storoe shear zone. The Storoe shear zone is part of a



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major, deep seated, regional NE structural zone, separating supracrustal rock from footwall Akia terrane orthogneisses. Early Archean orthogneisses of the Faeringehavn terrane overlie Storoe supracrustal rocks to the east and interleaved gneisses occur under supracrustal rocks to the north. The area was metamorphosed to amphibolite facies with sillimanite being the dominant alumino-silicate.

A10-20m wide, poorly foliated unit of highly aluminous rocks consisting of

garnet, sillimanite, mica and feldspar, near a contact of overlying amphibolite, is referred to as the BD zone. Within the garnet-biotite gneiss, up to a 10m thick layer of garnet-magnetite-rich (locally over 80% garnet) ironstone occurs as irregular layers. The uppermost unit, up to 250m wide, consists of fine to medium-grained black amphibolites. Main zone gold mineralization occurs in altered zones within the upper amphibolite unit. Biotite-garnet alteration zones up to 50m thick enclose auriferous quartz veins. The auriferous zones show an increase in the concentrations of biotite, garnet, quartz, diopside and sulphides (mainly pyrrhotite and arsenopyrite).

The geology of the Qussuk area comprises a central belt of island arc

elements with NNE, isoclinally folded panels of volcaniclastic meta-andesites intercalated with altered volcano-sedimentary rocks, tholeiitic amphibolite and ultra-mafic bodies surrounded by gneissic and granitic bodies of the Taserssuaq tonalite complex and Qussuk granite. Hydrothermal altered, leucocratic andesitic amphibolite hosts gold mineralization in the southern and western part of Qussuk peninsula and western areas of Qussuk Bay.

3.5 EXPLORATION CONCEPT & DEPOSIT MODEL The exploration model is that of Archean greenstone gold deposits which are well documented in the North American Craton (Figure 10.1) and the Archean Greenstone belts in Ontario and Quebec. The deposits occur in basic to intermediate volcanic terrain that may be subsequently intruded by island arc, intermediate to acidic volcanic. Gold deposits or camps are associated with major structural zones which are traced for long distances and after occur at or near unit boundaries. A difference in mineralogy occurs because of amphibolite to granulite grade metamorphism in the NGP (Figure 10.2). The Archean gold deposits can often be located using conventional silt, soil and rock geochemistry and in higher sulfidation types or pyrrhotite bearing type may be detectable with magnetic and electromagnetic geophysical methods. The exceptional amount of outcrop and sparse vegetation in West Greenland allows for conventional prospect by tracing of rusty, biotite and garnet bearing contacts. Then sawed rock channel samples are used to evaluate the gold content.



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3.6 MINERALIZATION At Storoe mineralization occurs at two main tectono-stratigraphic levels with high-grade lenses of quartz veins and disseminated sulphides and sulpharsenides in mineralized and altered higher-grade zones up to 12m wide and several hundred meters along strike within a larger, 10-50m, wide low-grade alteration envelope dominated by garnet-hornblende-biotite-diopside-rich rocks. Gold mineralization on the Storoe License occurs together with arsenopyrite at the BD Zone and the Main Zone on the north slopes of Qingaaq Mountain. Extensive channel sampling and more than 12,000 metres of core drilling has demonstrated continuity of mineralization in three dimensions on both the Main and BD Zones.

The Main Zone gold mineralization occurs in an altered upper amphibolite sequence in the core of an antiformal fold with gold in quartz veined rocks, commonly rich in garnet and biotite. A Main Zone, 1.00m chip sample by the writer contained 25.0g/t Au (Acme 22.31g/t Au) and 2.00m chip samples 197353 and 197356 contained 8.72 g/t Au and 8.80g/t Au respectively. The Main Zone occurs within a large, ENE-plunging F3 antiformal hinge (Main Zone s.s.) with an eastern flank (Main Zone east and Hanging Wall Zone) and a western flank (Main Zone west) that each can be followed uphill for approximately 400 m on surface (Fig. 11.1). Rock samples return up to 91 g/t Au in this area with common visible gold in both surface and drill core samples. The mineralisation has been traced to 150 m below the surface in drill holes. The lower part of the hinge area is covered by scree, and the exact dimensions and geometry of the mineralisation in this area is thus only indicated from drill hole data. Higher-grade gold mineralisation occurs as a series of presumably discontinuous lens-shaped bodies (2–12 m wide), within a larger, low-grade alteration envelope dominated by garnet-hornblende-biotite-diopside-rich rocks (10–50 m wide). The area is partly disturbed by late pegmatites. Gold grades in drill samples range up to 52 g/t Au over 2 m (12.67 g/t Au over 12 m).

The lower BD Zone is on the contact between biotite-sillimanite-garnet gneiss and the upper amphibolites. The BD gold mineralization occurs mainly in quartz-veined, arsenopyrite-bearing zones along the contact and in both rock types up to 20m away from the contact, mainly within or next to sections of sheeted quartz veins. The BD zone, exposed at 700–1050 m elevations, has been followed along strike for 700-800m with channel samples that returned up to 20g/t Au over a true width of 2.5m. Three-dimensional modeling of the BD zone based on surface geology and drill core information shows that the zone dips to the NE underneath the Qingaaq north face, and defines a major folded mineralised plane structurally below the Main Zone. It gets progressively shallower (dipping c. 45° at depth) down from the exposures near the top of the Qingaaq north face. The fold geometry gets progressively more complex towards the north (downhill). In drill holes at the foot of the Qingaaq north face, the BD plane has been recognized as deep as 300 m elevation (150–200 m below surface), giving a minimum known length of the BD horizon of c. 1000 m. Gold grades in drill core samples range up to 30 g/t Au over 2m.



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Re-Os analyses of arsenopyrite show that two periods of gold

mineralization occurred with older mineralization of the BD Zone possibly re-mobilized during peak metamorphism into structurally controlled and higher grade Main Zone mineralization. Gold grades in drill samples range up to 52 g/t Au over 2m in a 12m interval grading 12.67 g/t Au. The higher-grade nature of the Main zone mineralization was verified by the writer’s samples.

A New Main Zone, discovered in 1996, is 2-10m wide and located west of the Main Zone west in a NE-SW trending ductile thrust plane. Narrow quartz veins occur within altered amphibolite which can be traced for about 400 meters (Figure 10.1). Gold at Storoe also occurs within sulphide-rich garnetite consisting mainly of almandine garnet, biotite and pyrrhotite, and within Iron formation. The iron formation, occurring stratigraphically below the BD horizon will be targeted with some Phase 1 drill holes. A BD zone, 1.00m chip sample by the writers contained 5.24g/t Au (Acme 3.90g/t Au) and a 2.00m chip sample contained 0.976g/t Au (Acme 0.83 g/t Au). At the Qussuk prospects mineralization has been traced for nearly 20km with mineralization believed to be syn-volcanic and formed in an island-arc environment. Four main named zones include the Plateau Zone, Blue Fox Zone, Swan Zone, Swan N Zone and recently discovered Alma Zone: • Plateau Zone contains auriferous zones 1.5-2.0m wide consisting of garnet

altered sulphide-bearing, quartz veined amphibolite. Visible gold (VG) has been identified in quartz veins with a Nuna grab sample yielding 35g/t Au and 7 of 20 diamond drill holes completed in 2008 reporting VG. The VG is typically found in narrow quartz veins (up to 0.6m) flanked by semi-massive to massive pyrrhotite and minor chalcopyrite. A 1m chip sample collected by the writer contained 9.40 g/t Au.

• Blue Fox Zone is exposed on the south-side of Qussuk Bay where gold occurs in quartz veined amphibolite, calc-silicate alteration and a 5-30cm wide band of massive to semi-massive iron-copper sulphides. A Nuna sawed 1.5m channel yielded 21.7g/t Au and several other rock and sediment samples in an area 25 by 100m are in the 2-5g/t Au range.

• Swan Zone contains semi-massive to massive iron-copper sulphides in fold hinges in grey meta-andesite and amphibolite with local meter wide zones enriched in sulphides. An 80m wide alteration package with quartz, hornblende, garnet, tourmaline and iron-copper sulphides returned modest gold values. DDH 25 intersected 24m grading 1.23 g/t Au in the alteration zone.

• Swan N Zone is a 30-80m wide by 1km N-S trending zone of partly silicified, hornblende, quartz, garnet, biotite, and iron-copper sulphide bearing zone. Nuna channel samples yield up to 2m grading 6.5g/t Au (writer’s check sample 6.15g/t Au) with several other 2m channel samples grading 1-3g/t Au. Zone was drill in 2009 with results pending.



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• Alma Zone west of Swan N Zone, discovered in 2008, has several surface samples in the 1-4.5g/t Au range. The zone occurs along a 1.5km trend that is in the early prospecting stage.

3.7 STATUS OF EXPLORATION, DEVELOPMENT AND OPERATIONS Nuna and an associated company NunaOil have explored the in the NGP area since 1991. The Qingaaq prospect and Aappalaartoq Mountain area have been explored with c. 3600 surface samples which includes c. 3000m of rock channel sampling and approximately 13,000m of drilling with 66 holes at Qingaaq and 6 at Aappalaartoq. Six short Winkie holes were also drilled. Drilling was started at Qingaaq by NunaOil in 1995 and 1996 and later continued by Nuna in 2003, 2004, 2005, 2006 and 2007. A regional recognisance programs of Qussuk in 2004 and 2005 produced samples with encouraging results and in 2006 a more substantial surface sampling program was conducted. The 2007 results led to a helicopter supported airborne SkyTem magnetic and electromagnetic survey covering 45km2 with lines spaced at 100 meters and 400 line kilometres flown. The positive results from surface sampling and airborne geophysics led to a 3430 m drilling program in 2008 with 20 holes drilled in the Plateau Zone, 1-300m hole drilled to test a SkyTem anomaly in the Swan Zone and 4 holes drilled in the Swan N Zone. The Isua concession contains the Tangent Gold Showing and Baseline Target (base metals) with a 110g/t grab sample containing from the Target showing and a kilometre long electromagnetic Baseline conductor associated with Zn, Pb, Ag, and Au mineralization. A four hole 372m initial drilling program at Isua produced no significant drill results. Historic exploration from 1991 through 2008 by Nuna and NunaOil on the GNP has included over 5,000 surface samples and 17,010m of diamond drilling. Screened metallics assays have been used on mineralized core and elevated surface sample to moderate the nugget effect caused by the irregular distribution of course gold. The 2009 program, presently in progress, is being funded by NGL with an advance of $500,000 paid to Nuna. At Storoe, 9 sites were selected for drill pad preparation for the 2010 drilling program (Figure 21.1). About 4,000 (20-25 holes) of drilling is planned to provide information on the BD Zone on about an 80m x 100m grid. Drilling would extent up to 60m beyond the BD zone to intersect the underlying iron formation. An additional 1000m of drilling in the main zone to test a thrust ramp model and possibly extend the Main zone is being considered.



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Table 3.1 Writer’s Check Samples from NGP.

Sample # Location Long./Lat. (Elevation)

Type/ KG

Width Au g/t Acme

Au g/t Actlabs

s

COMMENTS

197351 51°0.09434W 64°0.40915N

Chip/ 2.34

2.0m 0.83 0.976 BD Zone (Upper Qingaaq)

197352 51°0.09447W 64°0.40917N

Chip/ 2.13

1.0m 3.90 5.240 BD Zone channel in garnet gneiss

197353 51°0.08445W 64°0.41217N

Chip/ 1.86

2.0m 8.18 8.720 @84612: 16260ppb Au; HW to Main Zone; rusty Amp. aspy., pyrrhotite

197354 51°0.08438W 64°0.41217N

Chip/ 2.18

2.0m 1.41 1.350 Laminated rusty Amp. aspy., pyrrhotite

197355 51°0.08438W 64°0.41268N

570m

Chip/ 2.02

2.0m 2.69 4.840 Main Zone Discovery Area Amp., QV, aspy., pyrrhotite, garnet + biotite alteration

197356 51°0.08446W 64°0.41271N

570m

Chip/ 1.96

2.3m 7.56 8.80 Amp., QV, aspy., pyrrhotite, garnet + biotite alteration

197357 51°0.08530W 64°0.41284N

Chip/ 1.73

1.0m 22.31 25.0 @Channel#72 Amp., QV, aspy., pyrrhotite, garnet + biotite alteration

197358 51°0.08445W 64°0.41217N

245m

Chip/ 1.98

2.0m 5.19 6.150 Swan North py, po, cpy silica-garnet-biotite alteration @ #184271: 6490 ppb Au

197359 51°0.12255W 64°0.66918N

730m

Chip/ 3.33

1.0m 8.07 9.40 Plateau Zone sil. Amp. With py, po, tr cpy Au in QV @184094: 35.8 g/t Au

13174 DDH05-03 30.0-32.3m

2.3m 1.64 1.380 Original Au: 1654ppb

14303 DDH05-22 136-138m

2.0m 23.12 8.930 Original Au: 4517ppb

103322 DDH07-42 130-132 2.0m 0.28 0.159 Original Au: 5700ppb Acme= Acme Analytical Laboratories (Vancouver) Ltd. Actlabs= Activation Laboratories Ltd. (Nuuk, Greenland)

Sampling by the writer (Table 3.1) verified the presence of significant gold. The variation in result obtained by Acme and Actlabs reflect the nugget effect which has been evaluated by Nuna’s checking programs and shown to exist. Nuna uses 1000g of pulped sample for screened metallic assays of mineralized core and re-runs of higher-grade surface samples to minimize the nugget effect. At Qussuk, a 13 hole drilling program of 1363.45m was completed at 7 sites at Swan North (Table 12.1, Figure 12.1). The garnet-biotite-quartz-sulphide targeted zones were intersected with core logged, sampled and submitted for analyses. Surface saw channel sampling included:

• Alma-15 profiles with total length of 82.5m, • Swan North-8 profiles with total length of 95m.

A total of 34 sediment samples were collected from drainage systems to the east and northeast of Swan and Swan North.



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At Igasoq a 54 sediment sampling program was carried out. At Qilanngaarsuit a one week reconnaissance rock sampling and sediment sampling program was carried out. Further 2009 drilling (possibly 600m) and follow-up surface geochemical sampling are contingent on the successful analytical results from the completed 2009 work grogram.

3.8 CONCLUSIONS AND RECOMMENDATIONS NunaMinerals has systematically explored the NGP since the early 1990’s and compiled an extensive inventory of geological, geochemical, geophysical and drilling data on an area prospective for Archean hosted gold deposits. The deposits have similarities to productive camps in Ontario and Quebec, Canada which encouraged NGL to participate in the NGP by funding of Nuna to earn up to 65% interest. The writer visited the NGP with Nuna exploration personnel and found exploration practices to meet or exceed industry best practice standards. Nuna’s exploration staff has the infrastructure and experience to conduct the exploration in an efficient manor for NGL. The licenses included in the NGP range from the advance stage Qingaaq and Qussuk prospects in the Storoe licenses to early stage targets at with Isua and Igasoq licenses and reconnaissance prospecting at the Qilanngaarsiut license application. The NGP provides the opportunity to participate in exploration ranging from gold resource definition at the Storoe gold deposit to early stage prospecting of Archean volcanic belts in an area demonstrated to host significant gold mineralization. The writer recommends a Phase 1, Cdn $3,000,000 work program for the property. The recommended program is designed to carry out further exploration of the Storoe Gold deposit with 4,500 meters (~20-25 hole program) of definition diamond drilling and 1,000m available to test in the thrust ramp zone. The Phase 1 should further evaluate the advanced Qussuk prospects and continue early stage exploration of the Igasoq, Isua and Qilanngaarsuit licenses. The Phase 1 program expenditures combined with 2009 exploration costs would allow NGL to earn a 15% interest in the NGP. A success contingent, Phase 2, 6,000m drilling program should be planned and budgeted based on Phase 1 experience. If the Phase 1 drill results are successful and time remains in the field season, then some Phase 2 drilling might be considered for the 2010 field season. The Phase 2 budget is estimated at Cdn $3,500,000 and will allow NGL to earn an additional 15% in the NGP.

3.9 OPINION OF MERIT It is the opinion of the writer that the NGP is of sufficient merit that the recommended budget, as outlined above, represents a worthwhile exploration program and expenditure for NGL.



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4.0 INTRODUCTION AND TERMS OF REFERENCE

4.1 INTRODUCTION Nuukfjord Gold Ltd. (“NGL”) holds an option to earn up to a 65% interest in the NGP. The 1277km2 project is located in West Greenland mainly northeast of the capital city of Nuuk with one lease application 20km to the south of Nuuk. Access to most parts of the property is by boat along numerous fjords with helicopter supported drill and crew moves. The main objectives of NGP exploration work on the property are to better define known mineralized zones and to identify new exploration targets with potential for new deposit discoveries. This report describes:

• the geological setting of the NGP area, • mineralization within the NGP, • the results of the exploration work carried out to date, • comments on exploration potential, and • recommended further exploration work for the NGP.

4.2 TERMS OF REFERENCE AND PURPOSE NGL commissioned the writer to prepare a technical report reviewing and summarizing exploration data and mineral potential of the NGP and recommend, if deemed appropriate, a program of exploration work on the project. The report was prepared in compliance with National Instrument 43-101 and follows Form 43-101F1. The report is required by NGL for supporting documentation needed for listing on the TSX Exchange.

4.3 SOURCES OF INFORMATION This report on the NGP is based on the following sources of information:

• Technical publications of a regional and a district nature from the Greenland Bureau of Mines and Petroleum (“BMP”), international scientific journals, PDAC 2009 conference proceedings notes and power points and assessment reports filed by NunaMinerals with the BMP. These are listed in References and Sources of Information section of this report (Section 22.0).

• Private technical documents written by previous workers on the property and listed in Section 22.0 of this report.

• Public news releases of NunaMinerals, a Nuuk based public company that holds the licenses for the NGP.

• Discussions with Nuna technical and management personnel.

4.4 FIELD INVOLVEMENT OF THE WRITER The writer made a site visit to the NGP for NGL on July 11th to 14th, 2009, 2009 at which time he had the opportunity to have extended discussions with NunaMinerals geologists who have had long term experience on the project area.



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The writer visited the site of the Storoe Gold Deposit and the Qussuk Gold prospects and started verification of sampling and results by collecting 9 chip samples and 3 reject pulp sample from previous work. The writer has no previous exploration experience on the NGP.

5.0 RELIANCE ON OTHER EXPERTS The writer, not an expert in legal matters, is required by NI 43-101 to

include a description of the property title, terms of legal agreements and related information in this report. The writer relied on property agreements and title documents in order to provide summaries of title, ownership and related information in this report. Property agreements, title opinion and other relevant legal documents were prepared or reviewed by NGL’s legal counsels, Maitland and Company of Vancouver and the writer has relied on their expert opinion. .

6.0 PROPERTY DESCRIPTION AND LOCATION

6.1 PROPERTY AREA AND LOCATION The NGP covers an area of approximately 1277km2 and encompasses most of the auriferous potential of the Nuuk Gold Province, southwest Greenland. The property is located in the Nuuk Fjord area of West Greenland. The seven blocks are within a rectangular area defined by latitudes 63°45’N to 65°30’N and longitudes 51°40’W to 49°30’W and extend northeast for 150km from 20km south of Nuuk, the capital of Greenland. The NGP, Storoe License, is centered near 64°42' N Latitude, 50°06' W Longitude (Figures 6.1 & 6.2).

Table 6.1 Pertinent Data on NGP Licenses. License Name License # Km2 covered by

agreement Period Renewal

Required Storoe 2007/59 884*-6=878 1-1-07/31-12-11 31-12-2011 Isua 2005/25 179 1-1-05/31-12-09 31-12-2009 Igasoq 2008/37 193 1-1-08/31-12-12 31-12-2012 Qilanngaarsiut (application) 27 pending N/A

• *NGL has copy of License showing 884km2, in the agreement with in NGL’s agreement with NunaMinerals 6km2 were excluded so the area subject to the agreement may be 884-6=878 km2 (from copy of license) or 874-6=868 km2 (from figures in BMP data base). The area of the NGP is c. 1277km2.



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•

• ▲north

Figure 6.1 General Location Plan For Nuuk Area, Greenland. (A=Aappalaartoq and Q=Qingaaq mountains)



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Figure 6.2: Location of NGP Licenses.

6.2 LAND TENURE, AND LEGAL AGREEMENTS On June 23, 2009, Nuna, the main mineral exploration company in

Greenland, signed an option agreement with Nuukfjord Gold Mines Ltd. (NGM) covering the 1277km2 Nuuk Gold Province Project (NGP) in the Nuuk Gold Province in West Greenland. Nuukfjord Gold Ltd. (“NGL”) through a subsequent purchase agreement acquired the NGM option to earn up to 65% interest in the 100% NunaMinerals A/S (“Nuna”) interest in the c. 1277km2 NGP in West Greenland (Nuna NR dated June 23, 2009). The NGP is an amalgamation of select parts of the Storoe exploration license which contain the advanced Storoe Gold Deposit and the Qussuk Gold Prospect, the Isua exploration license, the Igasoq exploration license and the Qilanngaarsuit exploration license (under application). Under the option agreement term, NGL is able to earn, incrementally through four phases, a 65% interest in the NGP by funding Cdn $23,000,000 (c. DKK 106 million) of exploration expenditures by September 30, 2013. Upon NGL earning a



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49% interest or 65% interest a joint venture to develop the NGP will be formed between NGL and Nuna (see Table 6.2). Nuna remains the operator of the NGP and NGM controls the funding.

Table 6.2 Summary of Payment Schedule and Nuukfjord/NunaMinerals Deal Summary.

Advance Millions CDN $

Cumulative Advance

Millions CDN $ Date Required % Interest Earned

Cumulative % Interest Earned

3.5 *** 3.5 *** *** 15 15 3.5 7.0 Sept 30, 2011 15 30 4.5 11.5 Sept 30, 2012 19 49

11.5 23.0 Sept 30, 2013 16 65 *** The initial $3.5 million is spread out over the first year as follows:

Advance Millions CDN $

Cumulative Advance Millions CDN $

Date Required

0.50 0.50 July 31, 2009 Already PAID 1.25 1.75 10 days after IPO closing but not

later than Dec 21, 2009 0.25 2.00 December 31, 2009 0.25 2.25 March 31, 2010 1.25 3.50 June 30, 2010

• Nuukfjord Gold Province, 1,277 square Km in 4 licenses (7 areas) • Nuukfjord can earn up to a 65% interest by property expenditures with no

cash or stock payments. • Initially Nuukfjord can earn 49% by expenditures totaling CDN$11.5 million

over the next 3 years. • Nuukfjord then has the option to earn an additional 16% for a total interest

of 65% by advancing an additional CDN$11.5 million in the next year for a total of CDN$23.0 million.

• During the earn-in period Nuna will be operator but Nuukfjord has control of the budget.

• No interest is earned until $3.5 million is advanced.

• A Joint Venture (J/V) can be formed once Nuukfjord has earned at least 49%. Usual dilution provisions apply. If Nuukfjord stops short of 49% it will retain its earned interest subject to dilution if Nuna continues and/or subject to a buyout for amount spent.



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6.3 GREENLAND MINING LAW

The Danish Consolidating Act no. 368 of 18 June 1998 on mineral resources in Greenland (“Mineral Resources Act”) governs activities concerning and rights to exploration and exploitation of mineral deposits. The licenses issued under the Act are summarized in Table 6.3 and exclude hydrocarbons, radioactive elements and hydropower resources, which are subject to separate regulations. All applications, licenses and concessions are reviewed in accordance with the “Application procedures and standard terms for exploration and prospecting licenses for minerals in Greenland” published by the BMP on 16 November 1998.

TABLE 6.3: SUMMARY OF GREENLAND MINERAL TENURE * TYPE OF TENURE Annual per License PERIOD RENEWALS Exploration Required/km2

years years Prospecting License (non Exclusive) 5 years Upon application N/A

Exploration License (Exclusive)

Yrs. 1-2: DKK 100,000 Yrs. 3-5: DDK 200,000 Yrs. 6-10: DDK 400,000 5 years

1 for 5 years; 3 for 2 years ea.**

Yrs. 1-2: DKK 1,000 Yrs. 3-5: DKK 5,000 Yrs. 6-10: DKK 10,000

Exploitation License (Exclusive) Outlined in License 30 years

Extension to 50 years N/A

Notes to Table 6.2

• *An applicant may hold more than one mineral tenure. • **Years 11-12: 13-14; and 15-16 are available on 2 year basis after BMP

has reviewed application for renewal by Dec. 31 in years 10, 12, and 14. The BMP is entitle to change terms of the concession.



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6.4 LEGAL SURVEY The lease areas are established by claim of an area defined by coordinates of corners. A GPS survey can be used to establish claim boundaries in the field and a legal survey is only necessary to resolve conflicting ownership. If a legal survey is required, the costs of the survey are the responsibility of the license holder.

6.5 LOCATION OF MINERALIZATION AND FACILITIES The location of main zones of known mineralized zones and drill locations are shown on Figures 9.4, 9.5, 9.6, 12.1 and 13.1. Drilling and diamond sawed channel samples are the main evaluation tools with minor blasting of rock trenches. The NGP has never contained a processing facility but a number of sites were viewed that are suitable for a mill and tailings and waste rock disposal. The proximity of water transport allows for a central facility fed by a number of mineralized zones.

6.6 ENVIRONMENTAL LIABILITIES NGL has informed the writer that their initial due diligence work indicates that the property interest is subject only to normal environmental regulations and liabilities as stipulated under the laws of Greenland and the sufficiency of rights for exploration and mining operations on the property is subject only to normal procedures and permits under the laws of Greenland. The auriferous zones are generally low sulfidation system and acid leaching should not be a problem. The project areas and camp visited by the writer were reclaimed and cleaned to industry best practice standards. The writer is not aware of any environmental liabilities affecting the NGP.

6.7 PERMITS Exploration Permits are required for drilling and blasting. Permits are issued by the BMP and have been obtained for the 2009 field season. Camps are inspected on a regular basis by the BMP and must be maintained to permit requirements. Annual reports of activity are filed with the BMP that summarize drill location, site reclamation and site cleaning. Annual assessment or work reports with results of work are filed with the BMP. Each area or sub-area, where work is performed, requires a report.



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7.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY

7.1 ACCESS AND PROXIMITY TO POPULATION CENTRES Access to most parts of the property is by boat with helicopter used to

support crew and drill moves and to move some supplies and samples. Greenland obtains most of its electrical power from hydro projects and a number of local run of river power possibilities exist. The NGP concession blocks cover ground that extends from near sea level to low mountains. Glaciers lie east of the NGP and to control cost, drill program are generally conducted between May and October. Geophysical program can start earlier and extend later but geological mapping is best done during summer months when most of the snow has melted.

7.2 PHYSIOGRAPHY, TOPOGRAPHY, ELEVATION, CLIMATE AND VEGETATION The NGP property has elevations ranging from sea level to over 1,000m and some rugged mountains terrain but generally the terrain consists of rounded hills or low mountains separated by glacially carved valleys. Elevations on the property extend up to 1500m in ice covered areas in the northeast. The climate at lower elevations is moderated by proximity to ocean currents. Ocean with normal temperatures ranging between about -10° and +7° but in the innermost parts of long fjords, temperatures can rise to more than 20°C in June, July and August. Annual rainfall at Nuuk, in the order of 750mm, is distributed in relatively moist, >80mm per month, summers and dry, ~45mm per month, cold snowy winters. Higher elevations, occurring in much of the north-eastern part of the property, are covered by ice. Exploration can be carried out year round with proper preparations but costly challenges are caused by short periods of daylight, snow and cold temperature. Mapping and regional sampling are summer activities. Geophysical surveys can start in mid-April but daylight is only about 6 hours. The vegetation is characterized by an absence of trees. However, in sheltered valleys in southern Greenland there is rock birch, mountain ash, alder, and willow scrub. The overall vegetation is low rock and tundra plants. Greenland’s national flower is Niviarsiaq which combines with wild flowers, herbs, mosses, greyleaf willow and heather to give a colourful summer landscape. The reindeer, also known as the caribou when wild in North America, is an Arctic and sub-Arctic dwelling deer commonly found in Greenland. Other terrestrial mammals include arctic fox, arctic wolf, polar bear (North and East Greenland), musk ox, collared lemming and mountain hare. Marine mammals



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include whales, seals, and walrus. Fishing and harvesting sea mammals is the main industry in Greenland.

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7.3 SURFACE RIGHTS, POWER, WATER, PERSONNEL, TAILINGS SITES, PROCESSING PLANT SITES Surface rights in the NGP project area are largely held by the State with local small fishing villages privately owned. The issuance of an Exploitation License will give rights to exploit a mineral deposit in a manner outline and overseen by the Bureau of Mines and Petroleum (BMP). The Store Gold Deposit, the most advance gold prospect on the NGP has a basin area situated nearby that could be used for waste and tailings disposal but no environmental or mining assessment has been completed.

7.4 ENVIRONMENTAL CONCERNS The BMP is responsible for the issuing of and supervision of issued licenses. A one stop licensing and permitting process is seen by Greenland as an advantage to the exploration industry. The concern and care of the environment is a responsibility of the BMP and Greenland which relies on fishing as its main industry. BMP may undertake inspection of licensee’s activities and review all information relating to the licensee’s activities under a license. Transportation costs of inspection personnel between inspection points and the nearest airport is the responsibility of the licensee. Within 12 months of termination of a license, a licensee must remove all installations, buildings and stored items in the expired license area and carry out final clean up activities to remedy remaining damages to terrain or vegetation. The writer visited several NunaMinerals exploration, drill and camps sites and found them to be clean and reclaimed to near original conditions. The writer is not aware of environmental problems or situations which affect the GNP.

8.0 HISTORY The historic exploration is mainly taken from an assessment report on the Storoe License (Ostergaard, 2007, updated 2009). Ostergaard’s historic section is mainly based on his personal experience while conducting and managing exploration of the NGP for NunaMinerals and associated companies. Previous exploration of the NGP included regional geological mapping and reconnaissance geochemistry by the former Geological Survey of Greenland and stream sediment sampling by Kidd Creek Mines in 1985. NunaOil visited the Storoe area in 1990, and increased company activity the following years with mapping, rock sampling and sediment sampling that resulted in a 13 hole (c. 2900m) drill program in 1995. Encouraging results justified continued exploration during 1996 with 8 holes totalling c. 2000m. The gold mineralization and geology



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became the focus of a PhD thesis and a Master thesis by students from Aarhus University. Due to decreasing gold prices and NunaOil’s focus on the evolving Nalunaq Gold Mine in South Greenland, the NunaOil license was relinquished in 1998. In 2002, NunaMinerals A/S, a minerals division formed by NunaOil in 1968, re-claimed the Storoe license and initiated further exploration. Nuna, in collaboration with The Geological Survey of Denmark and Greenland (GEUS) demonstrated that the Nuuk Fjord region and especially mineralization on Storoe showed similarities to gold districts like the Abitibi greenstone Belt in Canada and the Yilgarn craton in Western Australia.

Promising results from minor drilling in 2003 located a new mineralized level in an untested area in the southern part of the license. The new discover resulted in extensive drilling of 24 holes totalling c. 3900m in 2005; 14 holes totalling c. 2800m in 2006 and 12 holes totalling c. 1800m in 2007. In 2007 Nuna collected c. 1.2 tonnes of mineralized material for metallurgical studies of different gold zones and an additional seven mini-bulk samples were collected in 2008 for grain size studies and fundamental sample error calculations. A considerable percentage of the mineralization at Storoe was found to occur as “coarse-gold” with grains up to 3mm wide. The coarse-gold grains are unevenly distributed causing some large grade variations in analyses of mineralized zones.

At the Qussuk Gold Project (Storoe, sub 2 License) was first acquired in

2002. Nuna visited the area on 2004 and 2005 as part of a regional recognisance program with 100 samples collected. The results were encouraging and in 2006 a more trough sampling program and VLF and Ground magnetic surveys were carried out in the Blue Fox and Swan zones. Sampling included 165 sediment samples and 198 rock samples including 230m of sawed rock channel sampling. The results lead to a 2007 airborne geophysical survey (SkyTEM) and extensive surface sampling to outline previously identified mineralization and identify new prospective areas. The positive indications led to a 3430m drill program at Qussuk in 2008 and additional surface sampling.



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Table 8.1 Summary of Exploration History of the NGP.

Year Operator Work Program 1991 NunaOil 8 days in June and July. Approx. 100 rock and sediment samples (including

HMC). Samples ere mainly from Aappalaartoq area and the northern part of Storoe. Gold values up to 3.5ppm. Anomalous W, Cu and Ni. Minor geological reconnaissance.

1992 NunaOil 10 days in July. Approx. 400 rock samples and 100HMC samples. Geological sketch maps of the Aappalaartoq mountain. Generally moderate gold grades from rock samples (up to 500ppb). Most rock samples were from sillimanite-garnet-biotite gneiss.

1993 NunaOil Many site visits in June, July, August and September. A total of 210 mainly rock and sediment samples were collected. The main work was on known anomalous scree and sediment areas on Aappalaartoq. The fieldwork identified: 1. Gold associated with arsenopyrite in altered amphibolite. 2) Gold in sulphide rich garnet-hornblende rocks. Best rock sample 11.5ppm Au from a discontinuous mineralized layer immediately above the contact between gneiss and amphibolite on the Aappalaartoq SW face.

1994 NunaOil 5.5 weeks geological and geochemical survey. Approx. 550 mainly rock and sediment samples collected. Follow-up work on Aappalaartoq and discovery of Qingaaq (Main Zone (“ MZ”)) mineralization (up to 32ppm Au over 4m). Qingaaq (@1:10,000) and Aappalaartoq (@1:5,000) were mapped in the vicinity of mineralization. Topographic map prepared by Northway Map Technology with 10m contours but significant errors.

1995 NunaOil Bedrock sampling (including channel sampling) at revealed new targets at Qingaaq and Aappalaartoq areas. A 2,478m drilling program was carried out in MZ and on Aappalaartoq.

1996 NunaOil June through September- 400 mainly rock and sediment samples were collected to evaluate favorable geology on Storoe. A 2128m drilling program was carried out in Qingaaq and Aappalaartoq area. Several areas mapped and sketched. A 1:1,000near the main zone and area at 1:5,000. An 11.75km magnetic survey completed at the lower part of the Main Zone. A new zone, New Main Zone (NMZ) found east of Main Zone. Surface samples with gold values to 18ppm.

1997 NunaOil Two weeks of fieldwork in August to follow-up NMZ. Mapping and preliminary VLF studies revealed that MZ and NMZ could be identified by VLF.

2002 NunaMinerals Re-establish license (2002/07-222km2). Two day exploration in Aappalaartoq area with 30 rock samples and a few sediment and scree samples from known mineralized areas.

2003 NunaMinerals July-October: A total of 400 rock and sediment samples collected. A single 10m Winkie hole completed on upper Qingaaq but no other holes do to drill problems. Exploration resulted in discovery of BD Zone (BDZ) with best sample 17ppm Au.

2004 NunaMinerals May-September: Approximately 650m of not assayed 1996 core was split and analyzed with sections up to 4.7ppm Au. At Qingaaq area, 550m of channel sampling was completed in 34 profiles. Sampling focused on BDZ and produced grades up to 20ppm Au/2.5m. Winkie drilling (5holes c. 130m)at upper Qingaaq.

2005 NunaMinerals June-September: Westherhaven Base Camp established for NM and GEUS activities in Nuuk Fjord. Approx. 160 rock samples collected from Qingaaq and Aappalaartoq areas. A c. 3900m drill program in the Qingaaq area.

2006 NunaMinerals June-August: A total of 220, mainly rock, samples included 300m of channel sampling from MZ West; NMZ and Aappalaartoq SE areas. GEUS and NM co-finance with 1:2000 mapping of mineralized areas and 1:10000 mapping of all other zones on central Storoe. 2893m of diamond drill completed in the Qingaaq and Aappalaartoq North shoulder areas.

2007 NunaMinerals July-August: A total of 100 rock sample, mainly channel samples collected on the Aappalaartoq east ridge and at MZ West and BDZ on Qingaaq.1816m of diamond



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drilling completed on lower and upper Qingaaq. 7 small bulk samples (c. 1200kg) collected from different Au-zones for metallurgical tests and to assess the nugget effect.

2008 NunaMinerals July to August: A total of 113 rock samples, mainly channel samples collected from MZW and upper BDZ areas for grain size studies.

8.1 HISTORIC DRILLING AND SAMPLING Saw channelled sampling programs were used to trace gold mineralized surface exposures and establish drill targets. Drilling campaigns were undertaken by Nuna Oil and Nuna in 1995, 1996, 2005, 2006, 2007, and 2008. The historic drilling totalled c. 15,000m. Since Nuna continue as operator of the NGP until a JV is formed with NGL, previous drilling is reviewed in Section 13 and 2009, current exploration, is summarized in Section 12.

Table 8.2 Historic Drilling Through 2008 on NGP.

PROJECT NO. OF DRILL HOLES TOTAL LENGTH SIGNIFICANT RESULTS* MINERALISATION

Storoe Qingaaq Prospect

65 11480 m

25m grading 6.89 g/t Au, 11.95m grading 12.67 g/t Au 2m grading 52 g/t Au

Gold mineralisation at two tectono-stratigraphic levels separated by 100-150 m. Gold zones can be traced for minimum 1.2 km.

Storoe Aappalaartoq prospect

6 1728 m

14m grading 0.5 g/t Au. Surface sampling return 46 g/t Au.

Similar structural and geological setting as Qingaaq prospect. Part of c. 5 km long continuous gold anomalous belt.

Qussuk Plateau prospect

21 2828 m 0.6m grading 19.6 g/t Au. Surface sampling return up to 36 g/t Au.

Series of gold-bearing qtz-lenses. Traceable for up to 600 m along strike.

Qussuk Swan North prospect

17 602 m 23m grading 1.24 g/t Au 2009 results pending

Hydrothermal alteration zone. Can be traced for several kilometres along strike.

Isua Tangent Showing

4 372 m

No significant drill grades. Surface sampling return up to 106 g/t Au

Shear induced, carbonate hosted gold lenses traceable for several kilometres



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*Intersections are drilled intervals and not true width.

9.0 GEOLOGICAL SETTING

9.1 REGIONAL GEOLOGY AND TECTONICS (Figure 9.1& 9.2) The Regional geology of Greenland is shown after a GEUS compilation in Figures 9.1 and 9.2. The southern part of Greenland is shown to be underlain by Archean Craton that separated from the North American Craton, and an early Phanerozoic orogenic belt, both of which have been intruded by a middle Proterozoic intrusive complex. The Nuuk region comprises some of the largest areas of exposed early, middle and late Archean crust. The region makes up part of the North American Craton and correlates with Archean gneisses of the Nain Province in Labrador, Canada. The geology is dominated by grey orthogneisses formed during several episodes of crustal growth. The gneisses can be subdivided into several distinct ages which amalgamated during the Neoarchean (c. 2.7-2.6 Ga). Individual terranes are separated by deeply-seated tectonic boundaries. Archean supracrustal belts, consisting of predominantly metavolcanic rocks and lesser metasedimentary rocks occur within or between crustal blocks. The Storoe supracrustal rocks are bounded to the west by the Storoe shear Zone (Figures 9.2 & 9.3), which separates supracrustal rocks from the c. 3.05 Ga orthogneisses of the Akia terrane in the structural footwall exposed along much of northern Storoe’s western coast. To the east, supracrustal rocks are overlain by Early Archean orthogneisses of the Faeringehavn terrane and underneath the supracrustal belt, interleaved geisses of Early to Late Archean age occur to the north. The NGP was affected mainly by amphibolite facies metamorphism, with sillimanite being the dominate alumino-silicate. Petrographic observations of gold inclusions in garnet show that gold mineralization occurred prior to peak metamorphism. Post peak metamorphism gold associated with retrograde sericitization and epidotization suggest later gold remobilization.

The coastal Nuuk Fjord region has significant potential to contain large lode gold deposits. The region’s structural similarity to Timmins, Ontario and Kalgoorlie, Australia demonstrates that the Ivinnguit fault system,,which includes the Storoe shear zone, may have been a major feeder conduit for gold-bearing hydrothermal fluids. The presence of high grade gold occurrences along the 150 km length of the fault system supports its importance as a controlling feeder zone.

9.2 PROPERTY GEOLOGY (Figures 9.3, 9.4, 9.5, & 9.6) The supracrustal rocks on the NGP comprise a tectonically dismembered

sequence of mafic to intermediate amphibolite, ultrabasic rocks, garnet-mica-sillimanite schist and fuchsite-bearing quartzite (Hollis et al., 2004). The sequence is best exposed in the central and northern part of Storoe in the area around Qingaaq (1616m) and Aappalaartoq (1440m) which are about 4 km apart (Figures 9.2 & 9.3).



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The Qingaaq and Aappalaartoq mountains contain a supracrustal sequence consisting mainly of biotite gneiss, amphibolite, pegmatite and quartzite and quartz rich gneiss. The Storoe shear zone represent a 350-400m wide major structural zone with synformal and antiformal folding of supracrustal rocks in its hanging wall (Figure 9.3). The supracrustal rocks generally follow the NNE or NE trend of the major structural zone but are subject to complex folding and structural offset at Aappalaartoq Mountain.

Amphibolite zones in the Qussuk area are shown in Figure 9.4 with traces

of alteration zones containing gold showings. Details of the geology of the Swan North prospect and Plateau prospect (examined by the writer) are shown in Figures 5 and 6 (prepared by Nuna, 2009) along with the location of the writer’s verification samples.

.



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Figure 9.1: Geology of Greenland



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Figure 9.2 Generalized Geology of License Areas. (Figure Prepared by NunaMinerals)



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▲north

Figure 9.3 Geology Map of Central Storø (from Ostergaard, 2009). (A=Aappalaartoq Mountain and QN=Qingaaq)



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Figure 9.4 Qussuk Area Showings and Amphibolite Zones (From Nuna,



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Figure 9.5 Swan North Geology, Drillhole Locations and Writer’s Sample Location.



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Figure 9.6 Geology of Plateau Prospect Showing Drillhole & Writer’s Sample Locations.



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10.0 DEPOSIT TYPE

10.1 Archean Gold (Figures 10.1& 10.2) Exploration targets on the NGP are Archean greenstone belt structurally controlled gold deposits (Figure 10.1) that are low sulfidation in the Storoe Gold deposit with four named zones consisting of the BD, hanging wall, main and new main zones. The highest gold concentrations are linked to zones of quartz veins and arsenopyrite mineralization. The BD zone is associated with the contact between garnet-rich gneiss and amphibolite while the other three zones occur in an antiformal fold hinge. At Aappalaartoq Mountain elevated gold occurs in a rust contact zone with sulphide mineralization in association with copper, lead and zinc mineralization in quartz vein systems. Like the BD zone, the gold mineralization occurs at the contact between amphibolite and garnet-rich gneiss. Mineralization, at the Qussuk prospects, is intermediate sulfidation with modeling by Stensgaard and Stendal (2007) suggesting the geological environment has possibility for volcanic massive sulphide (VMS). The gold mineralized intermediate and basic supracrustal volcanic rocks at Storoe probably formed in a back-arc or intra-arc volcanic environment. The gold mineralization occurs within zones of intense and deformation. The earliest mineralization is believed to be synvolcanic, formed in an island-arc environment (e.g. Qussuk), or associated with an early shearing event at low metamorphic grades. The gold could be concentrated from nearby volcanic sources. At the BD zone gold mineralization occurred pre-metamorphic, and is partly bound to the lower contact of the upper amphibolite.

10.2 Nuuk Gold Province Exploration Approach Greenstone belts are a major source of gold in parts of most Precambrian

shields with the gold production in central and eastern Canada mainly from Archean greenstone belts. Silt sampling helps to select specific areas for ground follow-up with geological mapping and prospecting and when gold is involved heavy mineral sediment sampling may be more selective. In steep terrane silts and soils may not develop and scree sampling can give indications of the content of rugged areas. The extensive exposure and poorly developed vegetation allows prospectors to follow favourable horizons and geologists to evaluate surface mineralization using sawed channels. All of the common geochemical approaches have been used with reasonably good success by Nuna.

In areas with higher sulphide content or stronger pyrrhotite, magnetic and electrical geophysical methods might help define mineralized zones. Silicified zones without connected sulphide layers may be revealed as high resistivity zones. Airborne magnetic and electromagnetic methods have been attempted but their utility has yet to be established. Since Archean gold deposits are associated with contacts and/or structures the VLF-EM method can be used to follow mineralized structures in covered areas and resistivity may help in evaluating the degree of silicification. Eventually the surface indication must be evaluated at depth and along strike with drilling and because of complex structure Nuna has mainly relied on diamond drilling.



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Figure 10.1 Model for Archean Greenstone Belt Gold Deposits (Pulsen et al., 2000).

Figure 10.2 Simplified Model of Geological Environment and Mineral Occurrences NGP (Stensgaard and Stendal, 2007).



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11.0 MINERALIZATION At Storoe mineralization occurs at two main tectono-stratigraphic levels with

high-grade lenses of quartz veins and disseminated sulphides and sulpharsenides in mineralized and altered higher-grade zones up to 12m wide and several hundred meters along strike within a larger, 10-50m, wide low-grade alteration envelope dominated by garnet-hornblende-biotite-diopside-rich rocks. Gold mineralization on the Storoe License occurs together with arsenopyrite at the BD Zone and the Main Zone on the north slopes of Qingaaq Mountain. Extensive channel sampling and more than 12,000 metres of core drilling has demonstrated continuity of mineralization in three dimensions on both the Main and BD Zones.

The Main Zone gold mineralization occurs in an altered upper amphibolite sequence in the core of an antiformal fold with gold in quartz veined rocks, commonly rich in garnet and biotite. A Main Zone, 1.00m chip sample by the writer contained 25.0g/t Au (Acme 22.31g/t Au) and 2.00m chip samples 197353 and 197356 contained 8.72 g/t Au and 8.80g/t Au respectively. The Main Zone occurs within a large, ENE-plunging F3 antiformal hinge (Main Zone s.s.) with an eastern flank (Main Zone east and Hanging Wall Zone) and a western flank (Main Zone west) that each can be followed uphill for approximately 400 m on surface (Fig. 11.1). Rock samples return up to 91 g/t Au in this area with common visible gold in both surface and drill core samples. The mineralisation has been traced to 150 m below the surface in drill holes. The lower part of the hinge area is covered by scree, and the exact dimensions and geometry of the mineralisation in this area is thus only indicated from drill hole data. Higher-grade gold mineralisation occurs as a series of presumably discontinuous lens-shaped bodies (2–12 m wide), within a larger, low-grade (generally >1g/t Au) alteration envelope dominated by garnet-hornblende-biotite-diopside-rich rocks (10–50 m wide). The area is partly disturbed by late pegmatites. Gold grades in drill samples up to 52 g/t Au over 2 m occur in a 12m interval grading 12.67 g/t Au.

The lower BD Zone is on the contact between biotite-sillimanite-garnet gneiss and the upper amphibolites. The BD gold mineralization occurs mainly in quartz-veined, arsenopyrite-bearing zones along the contact and in both rock types up to 20m away from the contact, mainly within or next to sections of sheeted quartz veins. The BD zone, exposed at 700–1050 m elevations, has been followed along strike for 700-800m with channel samples that returned up to 20g/t Au over a true width of 2.5m. Three-dimensional modeling of the BD zone based on surface geology and drill core information shows that the zone dips to the NE underneath the Qingaaq north face, and defines a major folded mineralised plane structurally below the Main Zone. It gets progressively shallower (dipping c. 45° at depth) down from the exposures near the top of the Qingaaq north face. The fold geometry gets progressively more complex towards the north (downhill). In drill holes at the foot of the Qingaaq north face, the BD plane has been recognized as deep as 300 m elevation (150–200 m below surface), giving a minimum known length of the BD horizon of c. 1000 m. Gold grades in drill core samples range from 1g/t Au to up to 30 g/t Au over a minimum of 2m.

Re-Os analyses of arsenopyrite show that two periods of gold mineralization occurred with older mineralization of the BD Zone possibly re-mobilized during peak



34

metamorphism into structurally controlled and higher grade Main Zone mineralization. Gold grades in drill samples range up to 52 g/t Au over 2m in a 12m interval grading 12.67 g/t Au. The higher-grade nature of the Main zone mineralization was verified by the writer’s samples. A New Main Zone, discovered in 1996, is 2-10m wide and located west of the Main Zone west in a NE-SW trending ductile thrust plane. Narrow quartz veins occur within altered amphibolite which can be traced for about 400 meters. Gold at Storoe also occurs within sulphide-rich garnetite consisting mainly of almandine garnet, biotite and pyrrhotite, and within Iron formation. The iron formation, occurring stratigraphically below the BD horizon will be targeted with some Phase 1 drill holes. A BD zone, 1.00m chip sample by the writers contained 5.24g/t Au (Acme 3.90g/t Au) and a writer’s 2.00m chip sample contained 0.976g/t Au (Acme 0.83 g/t Au).



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▲north

Figure 11.1 Qingaaq Prospect Showing Locations for BD and Main Mineralized Zones.



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11.1 GENERAL DESCRIPTION The NGP covers the known gold prospects in the Nuuk Gold Province and favourable geology believed to have excellent potential for new discoveries. The area has similar geological history to Archean greenstone belts in Ontario and Quebec, Canada but the host rock were exposed to higher pressure and temperatures. The metamorphic conditions resulted in mainly amphibolite and some granulite facies metamorphism with mineralized zones rich in garnet, amphibole, mica and sillimanite, pyrrhotite, and arsenopyrite with more abundant chalcopyrite, sphalerite and galena in area with VMS affinity.

11.2 EXPLORATION TARGETS At the Storoe gold deposit the emphasis is on definition drilling and expansion

of the Main and BD zone mineralization (Storoe Gold Deposit). A thrust ramp model has been postulated and if found to be applicable will expand the tonnage potential of the BD and Main zones.

At the Qussuk prospects mineralization has been traced for nearly 20km with mineralization believed to be syn-volcanic and formed in an island-arc environment. Four main named zones include the Plateau Zone, Blue Fox Zone, Swan Zone, Swan N Zone and recently discovered Alma Zone: • Plateau Zone contains auriferous zones 1.5-2.0m wide consisting of garnet altered

sulphide-bearing, quartz veined amphibolite. Visible gold (VG) has been identified in quartz veins with a Nuna grab sample yielding 35g/t Au and 7 of 20 diamond drill holes completed in 2008 reporting VG. The VG is typically found in narrow quartz veins (up to 0.6m) flanked by semi-massive to massive pyrrhotite and minor chalcopyrite. A 1m chip sample collected by the writer contained 9.40 g/t Au.

• Blue Fox Zone is exposed on the south-side of Qussuk Bay where gold occurring quartz veined amphibolite, calc-silicate alteration and 5-30cm wide band of massive to semi-massive iron-copper sulphides. A Nuna sawed 1.5m channel yielded 21.7g/t Au and several other rock and sediment samples in an area 25 by 100m are in the 2-5g/t Au range.

• Swan Zone contains semi-massive to massive iron-copper sulphides in fold hinges in grey meta-andesite and amphibolite with local meter wide zones enriched in sulphides. An 80m wide alteration package with quartz, hornblende, garnet, tourmaline and iron-copper sulphides returned modest gold values. DDH 25 intersected 24m grading 1.23 g/t Au in the alteration zone.

• Swan N Zone is a 30-80m wide by 1km N-S trending zone of partly silicified, hornblende, quartz, garnet, biotite, and iron-copper sulphide bearing zone. Nuna channel samples yield up to 2m grading 6.5g/t Au (writer’s check sample 6.15g/t Au) with several other 2m channel samples grading 1-3g/t Au. Zone was drill in 2009 with results pending.

• Alma Zone west of Swan N Zone was discovered in 2008 has several surface samples in the 1-4.5g/t Au range. The zone occurs along a 1.5km trend that is in the early prospecting stage.



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11.3 EXPLORATION POTENTIAL The NGP is believed to have potential to develop into a significant Archean gold camp with the geological model developed by NUNA and GEUS (Figure 10.2) suggesting the potential for precious metal enhanced VMS deposits. The VMS possibilities are also being investigated at the Qussuk, Isua and Igasoq licenses.

12.0 EXPLORATION BY THE ISSUER NGL is earning its interest in the NGP by initially funding exploration with Nuna acting as operator. Nuna’s staff gained experience in exploring the NGP through programs conducted since 1991 and NGL will acquire expertise as it manages budgets and earns toward a JV. The previous exploration included c. 3600 surface samples from Storoe including c. 3000m of diamond sawed channel samples. The majority of these samples are from the Aappalaartoq and Qingaaq mountain areas and Qussuk where systematic sampling is continuing during the 2009 field season. Historic drilling totalling over 17,000m is summarized in Table 8.2 and in Section 13 of this report. Nuna and an associated company NunaOil have explored the in the NGP area since 1991. The Qingaaq prospect and Aappalaartoq Mountain area has been explored with c. 3600 surface samples which includes c. 3000m of rock channel sampling and approximately 13,000m of drilling with 66 holes at Qingaaq and 6 at Aappalaartoq. Six short Winkie holes were also drilled. Drilling was started at Qingaaq by NunaOil in 1995 and 1996 and later continued by Nuna in 2003, 2004, 2005, 2006 and 2007. A regional recognisance programs of Qussuk in 2004 and 2005 produced samples with encouraging results and in 2006 a more substantial surface sampling program was conducted. The 2007 results led to a helicopter supported airborne SkyTem magnetic and electromagnetic survey covering 45km2 with lines spaced at 100 meters and 400 line kilometres flown. The positive results from surface sampling and airborne geophysics led to a 3430 m drilling program in 2008 with 20 holes drilled in the Plateau Zone, 1-300m hole drilled to test a SkyTem anomaly in the Swan Zone and 4 holes drilled in the Swan N Zone. The Isua concession contains the Tangent Gold Showing and Baseline Target (base metals) with a 110g/t grab sample containing from the Target showing and a kilometre long electromagnetic Baseline conductor associated with Zn, Pb, Ag, and Au mineralization. A 2008 four hole 372m initial drilling program at Isua produced no significant drill results. Historic exploration from 1991 through 2008 by Nuna and NunaOil on the GNP has included over 5,000 surface samples and 17,010m of diamond drilling. Screened metallics assays have been used on mineralized core and elevated surface sample to moderate the nugget effect caused by the irregular distribution of course gold.

The 2009 field season being financed by NGL has concentrated on the Qussuk prospect area with a diamond drilling program at Swan North (Figure 12.1) of 1363.45m completed in 13 holes at 7 sites. The target zones, auriferous garnet-biotite-



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quartz-sulphide zones, were intersected, core logged and samples. A drill hole summary is presented in Table 12.1 with hole locations shown on Figure 12.1. The 2009 program, presently in progress, is being funded by NGL with an advance of $500,000 paid to Nuna. At Storoe, 9 sites were selected for drill pad preparation for the 2010 drilling program (Figure xx). About 4,000 (20-25 holes) of drilling is planned to provide information on the BD Zone on about an 80m x 100m grid. Drilling would extent up to 60m beyond the BD zone to intersect the underlying iron formation. An additional 1000m of drilling in the main zone to test a thrust ramp model and possibly extend the Main zone is being considered. At Qussuk, a 13 hole drilling program of 1363.45m was completed at 7 sites at Swan North (Table 12.1, Figure 12.1). The garnet-biotite-quartz-sulphide targeted zones were intersected with core logged, sampled and submitted for analyses. Surface saw channel sampling included:

• Alma-15profiles with total length of 82.5m, • Swan North-8 profiles with total length of 95m.

A total of 34 sediment samples were collected from drainage systems to the east and northeast of Swan and Swan North. At Igasoq a 54 sediment sampling program was carried out. At Qilanngaarsuit a one week reconnaissance rock sampling and sediment sampling program was carried out. Further 2009 drilling (possibly 600m) and follow-up surface geochemical sampling are contingent on the successful results of the completed work grogram. Table 12.1 Pertinent Hole Data for NGL/Nuna 2009 Drill Program.

Drill Pad Coords Borehole No.

Inclination Azimuth Depth N W

Elevation

DDH-26 -80o 125o 124.68m 64.81082 51.09246 257m DDH-27 -45o 120o 80.00m 64.81173 51.09060 258m DDH-28 -70o 120o 100.35m 64.81173 51.09060 258m DDH-29 -45o 120o 82.11m 64.81290 51.08865 270m DDH-30 -70o 120o 112.52m 64.81290 51.08865 270m DDH-31 -45o 120o 80.22m 64.81401 51.08628 328m DDH-32 -70o 120o 120.64m 64.81401 51.08628 328m DDH-33 -45o 120o 100.35m 64.81490 51.08496 364m DDH-34 -70o 120o 121.64m 64.81490 51.08496 364m DDH-35 -45o 115o 91.23m 64.80742 51.09920 308m DDH-36 -70o 115o 127.72m 64.80742 51.09920 308m DDH-37 -45o 110o 91.23m 64.80843 51.09689 268m DDH-38 -70o 110o 130.76m 64.80843 51.09689 268m



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Figure 12.1 Location of Qussuk 2009 Boreholes and Surface Saw channel Samples. (Profile lines are detailed traverses for location of boreholes (from Brown, 2009).



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13.0 DRILLING NGL supported 2009 drilling in the Swan North Prospect, Qussuk area of the NGP was completed prior to the writer’s site examination (Table 12.1; Figure 9.5). Historic drilling totalling c. 17,000m had been conducted by Nuna and NunaOil with the majority concentrated on the BD and Main Zone at the Qingaaq prospect on Store (Figures 13.1, 13.2, &13.3). Significant drill intersection from the BD and Main Zone are summarized in Table 13.1). Nuna, with funding provided by NGL, has prepared 9 additional pads to further evaluate and if successful delineate gold mineralization at the BD and Main zones.

Table 13.1 Selected Drill Intersections From the Main Zone and the BD Zone, Qingaaq prospect, Storø.

Storø Drill Hole No.

Intersection (m)*

Length (m) Au g/t

Main Zone 95-01 95-03 95-05 05-24 06-32

6.00-18.00 32.00-42.00 45.10-57.00 37.00-51.00 63.95-78.00

12.00 10.00 11.90 14.00 14.05

4.24 10.10 12.70 7.92 3.83

BD-Zone 05-14 05-17 06-29 07-47

89.00-93.00 129.00-135.00 160.00-162.00 69.00-73.00

4.00 6.00 2.00 4.00

9.58 5.07

12.90 7.01

* Drilled interval not corrected to true width.



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Figure 13.1 Drillhole Plan at the BD and Main Zones (Storoe Deposit) at Qingaaq Mountain Prospect.



42

.

Figure 13.2 Qingaaq Longitudinal Section 1. (from Nuna (Loc. see Fig. 13.1).



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Figure 13.3 Qingaaq Longitudinal Section 2 (From Nuna (Loc. see Fig. 13.1).



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Table 13.2 Summary of Selected Drill core Samples 2008 Qussuk.

Selected drill intersection from the 2008 drilling of the Plateau and Swan North zones at Qussuk are shown in Table 13.2 with hole locations shown on Figures 9.5 and 9.6. The 2009 drillhole locations at Swan North are also shown on Figure 9.5. A summary of historic drilling in the NGP is presented in Table 13.3.

Drill Hole

Section [m]

Length

Gold [g/t] DDH-01 36.00-36.60 0.60 19.10 Plateau Zone DDH-02 46.00-48.00 2.00 4.64 DDH-03 39.50-41.00 1.50 5.92 DDH-14 36.60-37-70 1.10 12.60 DDH-15 32.80-34.00 1.20 6.68 DDH-25 45.00-46.00 1.00 3.59 DDH-25 51.00-52.00 1.00 1.11 Swan N Zone DDH-25 52.00-53.00 1.00 1.68 DDH-25 53.00-54.00 1.00 4.51 DDH-25 65.00-67.00 2.00 8.46 Selected drill hole intersections from Qussuk 2008 drill programme

Drilled intervals not corrected to true width.



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Table 13.3 Summary of Historic Drilling by NunaOil and Nuna on NGP. Year License Zone Holes/

Meters Core Size

Summary

1995 Storoe Qingaaq (Qu)

11/2478 PQ 1 c. 500m hole at Aappalaartoq (A); best result 10m @10.1g/t Au Main Z. Drilling showed complex mineralized zones

1996 Storoe Qu & A 9/2128 BQ 2 from pad A W. Ridge, 1 from A E. Ridge6 from 3 pads Qu; 195 samples-487m analyzed; Main Z. holes intersected 1-5ppm over 2-20m.

2003 Storoe Qu (Main)

1/10.1 Winkie 10.1m @1.25ppm Au

2004 Storoe Qu 5/130.38 Winkie Max 628ppb Au in #23 2005 Storoe Qu

(Main) 24/3900 BTW Main (2m@552ppm Au; 11.25m-

12.67ppm Au; 17m-2.4ppm Au; BD 25m-2.4 ppm Au

2006 Storoe Qu; A 14/2893 BTW 12 holes main Z. 2 holes A; Main to 14m-3.5 ppm Au; BD 2m-30ppm Au; A 15m-0.5ppm Au

2007 Storoe Qu 12/1816 BTW BD & Main: 2m-14ppm Au and 5m-4ppm Au

2008 Storoe Qussuk 25/3430 BTW Swan N & Plateau see Table 13.2 2009 Storoe Qussuk 13/1363.

54 BTW Swan N (results pending)

2009 Isua Target 4/272 BTW No significant results; 106ppm Au surface?



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14.0 SAMPLING METHODS AND APPROACH

14.1 SAMPLING BY NUNA Nuna has conducted extensive sediment, surface rock and drill core sampling during exploration of the Nuuk Gold Province and started mini-bulk sampling in 2007 for metallurgical testing and grain size evaluation. All rock samples are given the prefix R and all sediment samples the prefix S and an area code (STO=Store License). RDC is the designation for rock drill core. RDC is first logged and then manually split in half. Core splitting is done using a core splitter. Core sample intervals were collected systematically but adjusted by the logger for major lithological boundaries. The average length of drill core samples is 2m ± 1m. A 2m core sample weighs 4-5kg. Drill core from 1995 and 1996 is stored in Kangerlussuaq by the BMP. Drill core from 2003 to 2009 is stored in Nuuk by Nuna.

Rock Channel (RCH) and Rock Chip (RCP) are profile samples preferably done with the assistance of a rock saw. Like drill sections, the RCH and RCP are ideally continuous. RCH are generally 2m long whereas RCP vary from 1-5m. RCH and RCP dimensions are recorded as measured and not true stratigraphic width. All RCH and RCP samples collected by Nuna weigh at least 2Kg. Nuna uses standard sampling approach of starting with sediment samples, silts or scree as available, and progressing to rock grab and sawed rock channels before testing mineralized zones with drill core samples.

14.2 Sample Preparation, Analysis and Security The Nuna samples were collected by Nuna personnel and transported by Nuna personnel from the exploration site to Nuuk where they were submitted to Actlabs for preparation. All samples were fine crushed, pulverized and a pulp split separated for assay. A 30 gram split of each pulp was fire assayed for gold and a 0.5 gram split of each pulp was digested in four acid solutions (HF-HCLO4-HNO3-HCL) and analyzed for multi-elements by inductively coupled plasma (ICP-ES) spectrometry. In the author’s opinion the sample preparation and analytical procedures used by Actlabs are done to international standards. The samples were transported from the field to the laboratory by Nuna personnel who were responsible for their security enroute.

Much of the gold on Storoe takes the form of nuggets with relatively large particles of gold unevenly distributed in the rock. Thus results of the testing to determine gold content vary considerably from sample to sample. A standard sample weighs about 3-5 kilos, of which the entire material is crushed. From this sample, a split of about 250 g is pulverized. However, only a 30 g sample from this powder is used for analysis. The presence of just a few coarse particles of gold thus has a great influence on the final test result, which often turns out to be non-representative. In order to minimize the nugget effect, Nuna re-analyzed a



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Table 14.1 Laboratory and Analytical Procedure Summary.

Year

Main Laboratory Analytical Procedures Discussion

1991 Actlabs INAA, ICP (52), FA (Pd, Pt, Au)

Rock and electrical panned sediment conc. by INAA, ICP (52), FA and HMC sample by INAA (34 element)

1992 Chemex Actlabs

ICP & FA (Au) INAA & ICP

Rock by Chemex and HMC by Actlabs

1993 Actlabs INAA, ICP, & FA (package 1H – Au +47) 1C FA (Pd, Pt, Au). S samples wet sieved to -0.5mm for 300g split; remainder used for HMC.

1994 Bondar Clegg FA (Pd, Pt, Au), ICP (28 el.), INAA

High gold analyzed up to 5 times & averaged. Sediment & HMC by INAA (Au+33), ICP

1995 Bondar Clegg INAA; metallics FA >100ppb used SM; FA (250g split) 1996 XRAL Lab FA-DCP/ICP Finish Crushed by NunaOil 90% <1mm & >250g split

for Au; >1000ppb were re-analyzed by metallics. XRF for base and trace elements. Every 10th sample re-analyzed.

1997 XRAL Lab FA50-DCP Finish; ICP XRAL ICP-70 extra elements, >1000Au gravimetric finish. XRF for extra elements; 10th sample re-run; Some SM. Chemex for extra analyses.

2002 Actlabs Au+48INAA/ICP- FA Cyanide Leaching

Bulk scree -60 to -120 by Cyanide Leach; Sediments to -80 mesh.

2003 Actlabs 1H (Au+47 INAA/ICP)

Nuna sieved sediments to -2mm @ lab to -80 mesh.

2004 Actlabs As 2003 High grade Au by SM. 2005 Actlabs INAA-ICP 1H Au+48

FA-PGE (1C), SM SM used 1000g pulp; +150 mesh for coarse

2006 Actlabs Greenland FA 1C (Pd,Pt,Au); 1E3 (aqua regia ICP)

10th sample re-assayed by ALS Chemex. High-grade and mdz. Section by SM

2007 Actlabs Greenland Same 2006 Gravimetric finish >3ppm Au; 130 samples from 2005, 2006 & 2007 to Chemex for re-assay

2008 Actlabs Greenland Same 2006 7 mini-bulk samples (~1200kg total) sent to SGS Lakefield for Metallurgical Study.

Code 1C-Exploration: A 30g sample is mixed with fire assay fluxes and fused at 1050°C for 1 hour. After cooling the lead button is separated from the slag and cupelled at 1000°C to recover the Ag (dore bead) +Au, Pt, Pd. The Ag doré bead is digested in hot (95°C) HNO3 + HCl. After cooling for 2 hours the sample solution is analyzed for Au, Pt, Pd by ICO-MS. Smaller sample splits are used for high chromite or sulphide samples to ensure proper fluxing and metal recoveries. INNA=Instrumental Neutron Activation Analysis; AA=Atomic Absorption Spectrometry; XRF= X-ray Fluorescence Spectrometry; ICP/MS= Induced Coupled Plasma Emission Mass Spectrometry; ICP/OES= Inductively Coupled Plasma-Optical Emission Spectrometry; FA=Fire Assay; SM=Screened Metallics large number of samples from Storø by the “screened metallics” method. Using this method, a larger fraction of the sample is pulverized (up to 2000 grams but Nuna generally uses 1000g); the pulverized material is screened and separated into a fine and coarse fraction at 100 mesh (100 holes per inch). The coarse fraction, where the larger gold particles usually end up, is analyzed separately, and two representative splits are taken from the fine fraction, which are also analyzed. Comparing the weight and gold content of each of the fractions produces a more representative indication of the average gold grade and also



48

provides a better understanding of the distribution of fine and coarse gold in the sample. The results of the Company's “screened metallics (SM)” testing shows that the gold content in these tests is mostly higher, locally up to 110%, than in standard testing. Reference pulp and reject crushed material is stored in Nuna’s Nuuk office warehouse. The warehouse also has considerable room for storing boxed split core in constructed racks. Historic core has been subjected to further analytical and scientific evaluation which has helped to formulate a best practice approach to exploration of the NGP by Nuna. All analyses have been conducted by certified laboratories with every 10th sample re-run by a referee laboratory and mineralized samples assayed or re-assayed by SM. Laboratories and analytical procedures employed are summarized in Table 14.1.

14.3 INSPECTION BY THE WRITER The writer was able to visit the BD and Main gold showings on the Store claim on July 11, 2009 and visited the Swan and Plateau showings on July 12, 2009. Seven chip samples were collected from the BD and Main showing areas and one chip sample was collected from Swan and one chip sample collected from the Plateau showing. The writer maintained security of his samples and personally delivered the samples to Actlabs in Nuuk for preparation. The writer observed the preparation of 1000g of pulp in the Actlabs preparation facility and retained 200g from each pulp for delivery to Acme Laboratories in Vancouver. Acme Analytical Laboratories of Vancouver, an ISO9001:2000 certified laboratory. Results from the writer’s samples are summarized in Table 15.1

15.0 DATA VERIFICATION and QA/QC Procedures. Rigorous data verification has been carried out on the property by Nuna with verification by GEUS. Nuna inserts >10% standards, blanks and duplicate samples on a randon basis. The Actlabs is directed to send 10% of the samples they analyze to a certified referee laboratory. The writer’s samples (Table 15.1) started data verification by NGL. Assays conducted by Nuna were mainly performed by Actlabs, an internationally certified laboratory with SGS, ALS Chemex, Acme and other certified laboratories used for Nuna’s referee samples. Every tenth sample is sent by Nuna to a referee laboratory. The writer’s referee samples were prepared under his supervision by Actlabs in Nuuk, Greenland and a 200 gram sample of pulp delivered to Acme in Vancouver, British Columbia for analysis and comparison with Actlabs analyses conducted in Toronto, Ontario. The three reference samples were split from pulps in Nuna’s secured storage area, office warehouse, in Nuuk, Greenland. Nuna adds blank, standard and duplicate samples to each batch of samples with >10% of Nuna’s geochemical samples representing QA/QC samples. Certified laboratories are required to include standards and re-runs in addition to referee lad checks with >10% of the laboratory analyses for QA/QC purposes. The writer collected 9 rock chip samples at sites that previous rock sampling and diamond drilling showed to be auriferous. Three samples were taken from stored pulps to compare with previous Actlabs results. The samples were prepared by senior Actlabs personnel with the writer present to observe



49

methods and appraise quality. The Actlabs preparation facility is modern and clean with handling of samples and machinery conducted to guard against contamination. The comparison laboratory results obtained by Acme in Vancouver and Actlabs in Toronto are shown in Table 15.1. The laboratories both conducted fire assays of 30 grams of prepared pulp. The comparison is generally good for deposits with a nugget effect caused by course gold and now-uniform distribution. Sample 14303 is the exception and showed significant discrepancy with Acme’s value 23.12 g/t Au and Actlabs’ value 8.930. The original assay was 4517ppb Au which varies significant from both re-assays. The writer contacted Acme and had the recorded values checked and no problem with recording was found. The coarse gold problem is addressed with 1000 grams of material crushed and pulverized for Nuna by Actlabs in Nuuk. Comparison of results by Nuna showed that 500 gram and 1000 gram prepared samples show close correlation for gold results but 250 gram prepared samples showed more discrepancy. Nuna is presently preparing 1000 gram samples for metallic assays. The writer’s samples verified the presence of significant gold and show variation between laboratories and previous sampled results which suggests a nugget effect. The continued used of screened metallics is encouraged.

Table 15.1 Writer’s Check Samples from NGP.

Sample # Location Long./Lat. (Elevation)

Type/ KG

Width Au g/t Acme

Au g/t Actlabs

s

COMMENTS

197351 51°0.09434W 64°0.40915N

Chip/ 2.34

2.0m 0.83 0.976 BD Zone (Upper Qingaaq)

197352 51°0.09447W 64°0.40917N

Chip/ 2.13

1.0m 3.90 5.240 BD Zone channel in garnet gneiss

197353 51°0.08445W 64°0.41217N

Chip/ 1.86

2.0m 8.18 8.720 @84612: 16260ppb Au; HW to Main Zone; rusty Amp. aspy., pyrrhotite

197354 51°0.08438W 64°0.41217N

Chip/ 2.18

2.0m 1.41 1.350 Laminated rusty Amp. aspy., pyrrhotite

197355 51°0.08438W 64°0.41268N

570m

Chip/ 2.02

2.0m 2.69 4.840 Main Zone Discovery Area Amp., QV, aspy., pyrrhotite, garnet + biotite alteration

197356 51°0.08446W 64°0.41271N

570m

Chip/ 1.96

2.3m 7.56 8.800 Amp., QV, aspy., pyrrhotite, garnet + biotite alteration

197357 51°0.08530W 64°0.41284N

Chip/ 1.73

1.0m 22.31 25.00 @Channel#72 Amp., QV, aspy., pyrrhotite, garnet + biotite alteration

197358 51°0.08445W 64°0.41217N

245m

Chip/ 1.98

2.0m 5.19 6.150 Swan North py, po, cpy silica-garnet-biotite alteration @ #184271: 6490 ppb Au

197359 51°0.12255W 64°0.66918N

730m

Chip/ 3.33

1.0m 8.07 9.400 Plateau Zone sil. Amp. With py, po, tr cpy Au in QV @184094: 35.8 g/t Au

13174 DDH05-03 30.0-32.3m

2.3m 1.64 1.380 Original Au: 1654ppb

14303 DDH05-22 136- 2.0m 23.12 8.930 Original Au: 4517ppb



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138m 103322 DDH07-42 130-132 2.0m 0.28 0.159 Original Au: 5700ppb

• Acme methods included MIXP (mix pulp), test 30g for Au by G6 Fire assay fusion by ICP-ES and test 0.5g by 1DX (36 element) using 1:1:1 Aqua Regia digestion and ICP-MS analysis standards and blanks were run according to certification protocol.

• Actlabs tested 30g samples by 1C-Exp Fire assay-ICP/OES and Code 1E3 Aqua Regia ICP

16.0 ADJACENT PROPERTIES

The writer is not aware of gold occurrences in the Nuuk Gold Province that are not covered by the NGP.

17.0 MINERAL PROCESSING AND METALLURGICAL TESTING Mineral processing and metallurgical testing studies have been conducted on gold mineralization in the NGP by Nuna. Multi element analyses of numerous rock samples show that base metal contents are generally low in the Storoe deposit and the mineralized zones generally have low sulphide content. The presence of arsenopyrite was noted in some of the writer’s samples. The control of arsenic in tailings and waste dumps requires study and baseline assessment of arsenic will be required to support a feasibility study.

Nuna collected six large samples (called “micro-bulk samples”) with an average weight of 160 kg. These samples were sent for processing by the certified test laboratory SGS Lakefield in Canada. Here, the mineralized material is crushed and pulverized in the same way as it would be in a standard mill, and the coarse gold is separated out using a Knelson concentrator and a shaking table. The gold content of the tailings is determined by cyanide leaching of two representative splits. The results of the micro-bulk samples show a gold recovery of between 91.5% and 94.8% using gravity and cyanide leaching (Table 17.1). Further test work at SGS is continuing in 2009.

18.0 MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES There are currently no NI43-101 compliant mineral resource or reserve estimates for the NGP.



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Table 17.1 Data for Micro-bulk Samples from NGP. Sample no. Sample weight,

kg Expected grade, g/t Au 2)

Messured grade, g/t Au

Procenttal difference

Recovery % 3)

M1 134 5,4 7,2 +33 91,5

M2 251 7,0 7,5 +7 94,8

M3 190 none 1,7 n,a, 92,8

M4 129 0,8 0,6 -25 92,1

M5 151 1,8 0,9 -50 93,4

M6 205 1,4 1,8 +29 92,6

M7 4) 100 0,4 0,6 +50 94,0

2) Based on saw samples from the surface. 3) Recovery using a combined gravity and cyanide leaching procedure. 4) Combined from several saw samples, representing 18m. The high recovery percentages are positive results but the fluctuations in grade reflect the nugget effect, which is common for late Archean gold deposits. Hence, large samples must be collected to ensure that analysis results are representative. The Company plans to continue micro-bulk sampling to further document the grade of the prospects and to gain information on the shapes and particle sizes of the individual gold grains. This information will allow Nuna to calculate the fundamental sampling error (FTE) and plan for a bulk sampling program.

19.0 OTHER RELEVANT DATA AND INFORMATION The writer is not aware of any material information that is not summarized in this report or that would influence the conclusions and recommendations resulting from his site examination and project review.

20.0 INTERPRETATION AND CONCLUSIONS Nuna has systematically explored the NGP since the early 1990’s and

compiled an extensive inventory of geological, geochemical, geophysical and drilling data on an area prospective for Archean hosted gold deposits. The coastal Nuuk Fjord region has significant potential to contain large lode gold deposits. The region’s structural similarity to Timmins, Ontario and Kalgoorlie, Australia districts demonstrates that the Ivinnguit fault may have been a major feeder conduit for gold-bearing hydrothermal fluids. The presence of high grade gold occurrences along the 150 km length of the fault system supports its importance as a controlling feeder zone.

The deposits have similarities to productive camps in Ontario and Quebec,

Canada and other area of the North American Craton (Figure 10.1) which encouraged NGL to participate in the NGP by funding of Nuna to earn up to 65% interest. The writer visited the NGP with Nuna exploration personnel and found exploration practices to meet or exceed industry best practice standards. Nuna’s exploration staff has the infrastructure and experience to conduct the exploration in an efficient manor for NGL. The licenses included in the NGP range from the advance stage Qingaaq and Qussuk prospects in the Storoe license to early stage targets at with Isua and Igasoq licenses and reconnaissance prospecting at the Qilanngaarsuit license application. Nuna has participated with GEUS to guide exploration for Archean metamorphic gold deposits. The NGP provides the



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opportunity to participate in exploration ranging from gold resource definition at the Storoe gold deposit to early stage prospecting of Archean volcanic belts in an area demonstrated to host significant gold mineralization. The 2010 drilling program should consist of 4,500m (20-25 holes) of diamond drilling from about 7 of the 10 pads constructed for further definition of the Main and BD zones at the Storoe gold deposit and 1,000m to test possible thrust ramp zones (ie. fault produced dilation zones). The planned drilling would provide essential information on the BD Zone along the hinge zones on a rough 80m x100m grid. Drilling would extend up to about 60m beyond the BD zone to intersect an underlying iron formation. In addition, approximately 1000 m of Phase 2 drilling in the lower Main Zone, based on the thrust ramp model (Duuring et. Al., 2001), is being considered as an option for extending the main zone.

21.0 RECOMMENDATIONS AND BUDGET This recommended Phase 1 program represents a continuation of the definition of the Storoe Gold Deposit with nine drill sites established to provide platforms for diamond drilling 4,500m with 1,000m reserved for testing fault produced dilation zones (thrust ramp model). The budget for the Phase 1 drilling is estimated to be $3,000,000. Contingent on the success of the Phase 1 program addition, Phase 2 definition drilling might be started to allow sharing of drill and crew mobilization costs between Phases. The objective of the recommended Phase 1 work program is to initiate resource definition of known mineralization at the Storoe Deposit and test for possible strike and dip extensions. The evaluation of a thrust ramp model for Main Zone mineralization is also recommended. A success contingent, Phase 2, 6,000m drilling program should be planned, engineered and budgeted based on Phase 1 experience. Previous exploration experience indicates that all in diamond drilling costs are about $500 per meter and $3,000,000 would be required for completing up to 6,000m and $500,000 available for additional regional work. The Phase 2 drilling and regional work planned for the 2011 exploration seasons is estimated, based on historic information, to cost about CDN $3,500,000.

21.1 PHASE 1 PROGRAM The budget for the Phase 1 program is outlined in Table 21.1 with the majority of the cost estimate related to definition and exploratory drilling of 4,500m at the Storoe gold deposit.

21.2 PHASE 2 PROGRAM The budget for the success contingent Phase 2 program is outlined in Table 21.2 with the majority of the cost estimate related to definition and exploratory drilling of a further 6,000m at the Storoe gold deposit.



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Table 21.1 Budget for NGP Recommended Phase 1 Program. PHASE 1 BUDGET - FIELD WORK AND DRILLING Storoe Gold Deposit Definition Drilling ITEM CDN$ Mobilization/ Demobilization 50,000Surveying 10,000Geological Personnel & Assistants 400,000Geological Mapping 40,000Geochemical Prospecting and assays 250,000Meals, communications, accommodation, transportation 200,000Helicopter Support 150 hrs. @ $3,000ea 450,000Drilling (5500m x $200/m) 1,100,000Administration, support and travel 200,000 Contingency 300,000 PHASE 1 NGP BUDGET TOTAL CDN$ 3,000,000

Table 21.2 Budget for NGP Success Contingent Phase 2 Program. PHASE 2 BUDGET - FIELD WORK AND DRILLING Storoe Gold Deposit Definition Drilling ITEM CDN$ Mobilization/ Demobilization 80,000Surveying 20,000Geological Personnel & Assistants 600,000Geological Mapping 50,000Geochemical Prospecting and assays 250,000Meals, communications, accommodation, transportation 300,000Helicopter Support 200 hrs. @ $3,000ea 600,000Drilling (6000m x $200/m) 1,200,000Administration, support and travel 300,000 Contingency 100,000 PHASE 2 NGP BUDGET TOTAL CDN$ 3,500,000

21.3 OPINION OF MERIT It is the opinion of the writer that the property is of sufficient merit that the recommended budget, as outlined above, represents a worthwhile exploration program and expenditure for NGM.



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◄------north

Figure 21.1 Proposed Diamond Drill Hole Store (Qingaaq) Main Zone.



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22.0 REFERENCES AND SOURCES OF INFORMATION Brown, P., 2009. NuukFjord-NunaMinerals Agreement, Progress Report 31 July, 2009. Christensen, R., 2009. Store, Subarea 2, Qussuk Project Assessment Report. Prepared for NunaMinerals A/S. Cox, D.P. and Singer, D.A., 1986. Mineral Deposit Models. USGS Bull. 1693, 379p. Day, W.C. and Klein, T.L., 1994. Descriptive and Grade-Tonnage Models of Archean Low-Sulfide Au-Quartz Veins and a Revised Grade-Tonnage Model of Homestake Au. USGS Open File Report 94-250, 27p. Duuring, P., Hagemann, S.G., and Love, R.J., 2001. A Thrust Ramp Model for Gold Mineralization at the Archean Trondhjemite-Hosted Tarmoola Deposit: The Importance of Heterogeneous Stress Distribution Around Granitoid Contacts. Econ. Geol. Vol. 96, pp.1379-1396. Garde, A.A., Hamilton, M.A., Chadwick, B., Grocott, J. and McCaffrey, K.J.W., 2002. The The Ketilidian orogen of South Greenland: geochronology, tectonics, magmatism, and for-arc accretion during Palaeoproteroaoic oblique convergence. Can. J. Earth Sci. 39: pp. 765-793. Groves, D.I., Phillips, G.N., Ho, S.E., Houstoun, S.M., and Standing, C.A., 1987. Craton-scale distribution of Archean greenstone gold deposits; predictive capacity of the metamorphic model. Econ. Geol., Vol., 82, No. 8, pp. 2045-2058. James, D.T., Kamo, S., and Krogh, T., 2002. Evolution of 3.1 an 3.0 Ga volcanic belts and new thermotectonic model for the Hopedale Block, North Atlantic craton (Canada). Can. J. Earth Sci. 39: pp. 687-663710. Neilsen, T.F.D., 2009. Mineral Potential of Palaeogene Magmatic Rocks in Greenland. Paper Presented at PDAC 2009, Toronto. NunaMinerals A/S, 2008. Annual Report. Nuukfjord Gold Mines Ltd and NunaMinerals A/S, 2009. Property Option and Joint Venture Agreement, Huuk Gold Camp, Greenland. Dated June 23, 2009. Østergaard, C., 2009. Store Assessment Report. Prepared for NunaMinerals A/S dated July 13, 2009.



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Østergaard, C., and van Gool, J.A.M., 2007. Assessment of the gold mineralization on Storø, Godthabsfjord, southern West Greenland: Mineral resource assessment of the Archaean Craton (66°to 63°30’N) SW Greenland. Contribution no. 5. GEUS, Report 2007/78, 20p. Pulsen, K.H., Robert, F., and Dube, B., 2000. Geological Classification of Canadian Gold Deposits: Geological Survey of Canada, Bulletin 540, 106 p. Robert, F. and Brown, A.C., 1986. Archean gold-bearing quartz veins at the Sigma Mine, Abitibi Greenstone Belt, Quebec Part II. Vein paragenesis and hydrothermal alteration. Econ. Geol. V.81, p.593-616. Roberts, R.G., 1987. Ore deposit models, Number 11: Archean gold deposits. Geoscience Canada, V. 14, p. 37-52. Stendal, H., 2009. Overview_Geology and Mineral Potential-Prospective Regions. Paper presented at the PDAC 2009, Toronto. Stensgaard, B.M., and Stendal, H.S., 2007. Gold Environments and Favourability: in the Nuuk area of southern West Greenland. Geology, Exploration and Mining in Greenland, Publication No. 9, Feb. 2007, GEUS, 12p. Van Gool, J.A.M., Schersten, A., Østergaard, C., and Neraa, T., 2007. Geological Setting of the Storø Gold Prospect, Godthabsfjord Region, southern West Greenland. Danmarks og Grønlands Geologiske Undersøgelse Rapport 2007/83, 158 p. Van Gool, J.A.M., Connelly, J.N., Marker, M., and Mengal, F.C., 2002. The Nagssugtoqidian Orogen of West Greenland: tectonic evolution and regional correlations from a West Greenland perspective. Can. J. Earth Sci. 39: pp. 665-686. Wardle, R.J., James, D.T., Scott, D,J., and Hall,J, F.C., 2002. The southeastern Churchill Province: synthesis of a Paleoproterozoic transpressional orogen. Can. J. Earth Sci. 39: pp. 639-663.

23.0 SIGNATURE, STAMP AND DATE Original report signed and stamped at Vancouver, B.C., on the 18th day of September 2009. “Peter A. Christopher” ____________________________________________________________ Peter A. Christopher, PhD, P.Eng.



24.0 CERTIFICATE I, Peter A. Christopher, with business address at 3707 West 34th Avenue, Vancouver, British Columbia, do hereby certify that: 1. I am a Consulting Geological Engineer registered (#10,474) with the Association of Professional Engineers and Geoscientists of British Columbia since 1976. 2. I am a Fellow of the Geological Association of Canada. 3. I hold a B.Sc. (1966) from the State University of New York at Fredonia, a M.A. (1968) from Dartmouth College and a Ph.D. (1973) from the University of British Columbia. 4. I have been practicing my profession as a Geologist for over 40 years and as a Consulting Geological Engineer since June 1981. I have authored over 300 qualifying engineering and exploration reports, and over 20 professional publications. I have work experience in most areas of the United States, Canada, Papua New Guinea, Madagascar, Egypt, Botswana, Albania, Philippines, Mexico, and several other Latin American countries. I have worked on gold deposits in Canada, Nevada, Idaho, Arizona, Mexico, and several African and South American countries. As a result of my experience and qualifications, I am a qualified person as defined in National Instrument 43-101. 5. I have no direct or indirect, nor do I expect to receive any interest directly or indirectly in the properties or securities of Nuukfjord Gold Ltd. (NGL). I am independent of NGL in accordance with the application of Section 1.4 of National Instrument 43-101. 6. I am responsible for preparation of this report entitled “Technical Report on the Nuuk Gold Province Project, Nuuk Fjord Area West Greenland” dated September 18, 2009. I have based this Technical Report on previous exploration experience, review of references listed in Section 22.0 and a one time, site examination on July 11th to 14th, 2009. I have no prior exploration experience in the project area. As of the date of this certificate and to the best of my knowledge, information and belief, the Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading. 7. I have read National Instrument 43-101, Form 43-101F1 and have prepared this Technical Report in compliance with National Instrument 43-101. 8. I consent to the filing of the “entitled “Technical Report on the Nuuk Gold Province Project, Nuuk Fjord Area West Greenland” dated September 18, 2009 by Nuukfjord Gold Ltd. with any stock exchange and other regulatory authority for compliance purposes.

Signed and Sealed at Vancouver, British Columbia, the 18 th day of September 2009. “Peter A. Christopher” ___________________________ Peter A. Christopher, PhD., P.Eng

nuukfjord 43-101

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