The Northern Miner Podcast

This week we're digging deep into capital allocation courtesy of our all-star panel discussion from the Canadian Mining Symposium in London, U.K., in May. Discussion ranges from mergers and acquisitions to dividend policy, and beyond! The panel members include: Stephen R. Mullowney, managing director & partner, Consulting & Deals, PwC; Patrick Anderson, president and CEO, Dalradian Resources; Rob McEwen, executive chairman, McEwen Mining; Ed Sterck, director, BMO Capital Markets; Ian Pearce, chairman, New Gold; and moderator John Cumming, Editor-in-chief, The Northern Miner. Meanwhile, Lesley digs into x-ray fluorescence technology (XRF) in reference to Barrick Gold's (TSX: ABX; NYSE: ABX) ongoing socio-political issues in Tanzania. The Canadian major holds a 63.9% equity interest in Acacia Mining (LON: ACA); the the largest gold producer in the African country with three operating mines, namely: Bulyanhulu, Buzwagi and North Mara. Barrick has been negotiating with the Tanzanian government over a halt on concentrate exports that President John Magufuli instituted on March 3. Timeline: 2:42 Touch of macro ft. copper, gold, and met coal 6:31 Panel discussion of TNM/PwC report — ‘Strategies for excess cash’ 7:05 The Geology Corner ft. Acacia Mining and XRF technology Articles referenced: Barrick, Acacia at odds with gov’t in Tanzania: http://www.northernminer.com/news/update-barrick-acacia-embroiled-political-turmoil-tanzania-2/1003787257/ Video: Panel discussion of TNM/PwC report — ‘Strategies for excess cash’: http://www.northernminer.com/video/panel-discussion-tnmpwc-report-strategies-excess-cash/1003787416/ Video: Lifetime Achievement Award and fireside chat with Robert Friedland: http://www.northernminer.com/news/lifetime-achievement-award-fireside-chat-robert-friedland/1003787371/ GT Gold surges on greenfield discovery in BC’s Golden Triangle: http://www.northernminer.com/news/gt-gold-surges-greenfield-discovery-bcs-golden-triangle/1003788300/ PDAC 2017: Copper, zinc looking good for 2017: www.northernminer.com/commodities-ma…17/1003784440/ Robert Friedland, Lukas Lundin, David Garofalo and Kelvin Dushnisky to be featured speakers at TNM’s Canadian Mining Symposium in London: www.northernminer.com/stock-markets-…on/1003784168/ Music Credits: Energy Recorded by Bensound (www.bensound.com/royalty-free-music/track/energy) Licensed under Creative Commons: By Attribution-NoDerivs 3.0 Unported creativecommons.org/licenses/by-nd/3.0 Isolated Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/ Beach Bum Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/

We're talking B.C. politics and the provincial mining industry with Mining Association of British Columbia (MABC) president and CEO Bryan Cox. Matt sits down to chat with Bryan about the incoming NDP-Green coalition government and what that might mean for the B.C. mining business. We dig into regulatory framework, the need for better communication initiatives in the industry, and recent overtures from the federal Liberals on potential reforms to Canada's environmental-assessment (EA) process. Meanwhile, the Mercenary Geologist Mickey Fulp joins Matt to talk about commodity markets and his investment strategies during the "summer doldrums." We chat about deal flow, the state of precious and base metals, and two companies Mickey is checking out in the Yukon, namely: K2 Gold (TSXV: KTO; US-OTC: KTGDF) and Fireweed Zinc (TSXV: FWZ). Timeline: 3:03 Touch of macro ft. copper and gold 4:45 Mickey Fulp talks the state of mining markets 7:05 K2 Gold & Fireweed Zinc 13:00 What oil, copper, and gold are saying about the market 17:55 MABC president and CEO Bryan Cox 23:05 The NDP-Green coalition government in B.C. 28:30 The future of B.C.'s coal industry 30:25 Federal Liberal report on environmental assessment Articles referenced: Yukon catches more majors’ eyes: http://www.northernminer.com/news/far-north-attracts-investment-majors/1003785761/ Editorial: BC falls to NDP-Green coalition: http://www.northernminer.com/regulatory-issues/editorial-bc-falls-ndp-green-coalition/1003787760/ China ‘holds the key’ to thermal coal price stability: http://www.northernminer.com/commodities-markets/china-holds-key-thermal-coal-price-stability/1003786837/ PDAC 2017: Copper, zinc looking good for 2017: http://www.northernminer.com/commodities-markets/pdac-2017-copper-zinc-looking-good-2017/1003784440/ Robert Friedland, Lukas Lundin, David Garofalo and Kelvin Dushnisky to be featured speakers at TNM’s Canadian Mining Symposium in London: www.northernminer.com/stock-markets-…on/1003784168/ Music Credits: Energy Recorded by Bensound (www.bensound.com/royalty-free-music/track/energy) Licensed under Creative Commons: By Attribution-NoDerivs 3.0 Unported creativecommons.org/licenses/by-nd/3.0 Isolated Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/ Beach Bum Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/

The Northern Miner presents our annual podcast from Dawson City, Yukon. Matt and Lesley report on-site from the Yukon Mining Investment Conference to dig into all the emering stories in the region. We have an action-packed episode that includes exclusive interviews with industry players, analysts, and government officials! Matt sits down with Deputy Premier, and Minister of Energy Mines and Resources, Ranj Pillai to talk social license, legislation, and major gold miners investing in the Yukon. We dig into details around federal Bill C-17, which scraps controversial amendments in Bill S-6 that triggered lawsuits from several Yukon First Nations. Meanwhile, Lesley returns with a special Geology Corner featuring Yukon prospecting legend Shawn Ryan. They chat about the new White Gold (TSX: WGO; US-OTC: GFRGF) vehicle, which consolidates the majority of Ryan's Yukon gold portfolio into a deal supported by Kinross Gold (TSX: K; NYSE: KGC) and Agnico Eagle Mines (TSX: AEM; NYSE: AEM). In addition, Lesley learns about the emerging "drones-to-drill" exploration strategy that Ryan developed to decrease potential environmental footprints caused by exploration efforts! Timeline: 4:34 Touch of Macro ft. Macquarie Research 8:47 Geology Corner ft. Shawn Ryan 10:45 The "drone-to-drill" exploration techniques 29:16 Update on White Gold field season 38:34 Yukon Deputy Premier Ranj Pillai 43:15 Discussion on Bill C-17 and environmental review Articles referenced: G4G Capital’s stock surges with option on Shawn Ryan’s claims: http://www.northernminer.com/people-in-mining/g4g-capitals-stock-surges-option-shawn-ryans-yukon-claims/1003780990/ Yukon catches more majors’ eyes: http://www.northernminer.com/news/far-north-attracts-investment-majors/1003785761/ Roundup 2017: Goldcorp scouts out investments in juniors: http://www.northernminer.com/news/goldcorp-scouts-investments-junior-explorers/1003783272/ When the east pushed back: The geology and metal districts of BC and Yukon: http://www.northernminer.com/news/east-pushed-back-geology-metal-districts-western-canada/1003782382/ Robert Friedland, Lukas Lundin, David Garofalo and Kelvin Dushnisky to be featured speakers at TNM’s Canadian Mining Symposium in London: www.northernminer.com/stock-markets-…on/1003784168/ Music Credits: Energy Recorded by Bensound (www.bensound.com/royalty-free-music/track/energy) Licensed under Creative Commons: By Attribution-NoDerivs 3.0 Unported creativecommons.org/licenses/by-nd/3.0 Isolated Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/

Matt and Lesley are preparing to head north for the Yukon media mining tour later in the week! As such, we have some amazing content from our Canadian Mining Symposium in London to carry us through this week's episode. In fact, we're featuring the headline discussion at the event between Goldcorp's (TSX: G; NYSE: GG) David Garofalo and Barrick Gold's (TSX: ABX; NYSE: ABX) Kelvin Dushnisky. It's moderated by Greg Huffman, who is the managing director and global head of mining sales at Canaccord Genuity. We dig into a wide-ranging discussion that touches on many important topics across the mining industry, including things like innovation, water usage, exploration, and partnerships on large-scale projects. In addition, we get to hear a little bit about funding exploration and how Goldcorp and Barrick view their investments, and partnerships, in junior miners! Timeline: 7:26 What makes the Canadian mining industry a global leader? 10:40 Forming partnerships on large-scale projects 10:45 The depletion of global gold reserves 12:25 Discovering and operating next-generation deposits 15:01 Investing in juniors and the state of exploration 18:25 How does Canada remain a global mining leader? Articles referenced: In-depth interview: Barrick’s Dushnisky and Goldcorp’s Garofalo on gold mining’s future: http://www.northernminer.com/people-in-mining/depth-interview-barricks-dushnisky-goldcorps-garofalo-gold-minings-future/1003787114/ Video: Panel discussion of TNM/PwC report — ‘Strategies for excess cash’: http://www.northernminer.com/video/panel-discussion-tnmpwc-report-strategies-excess-cash/1003787416/ Robert Friedland: Celebrating a lifetime of achievement: www.northernminer.com/people-in-mini…nt/1003785716/ Clean Teq’s Syerston project could produce cobalt for more than twenty years: www.northernminer.com/news/clean-teq…rs/1003787383/ Robert Friedland, Lukas Lundin, David Garofalo and Kelvin Dushnisky to be featured speakers at TNM’s Canadian Mining Symposium in London: www.northernminer.com/stock-markets-…on/1003784168/ Goldcorp partners with Barrick in Northern Chile: http://www.northernminer.com/news/goldcorp-joins-forces-barrick-chile/1003784942/ Music Credits: Energy Recorded by Bensound (www.bensound.com/royalty-free-music/track/energy) Licensed under Creative Commons: By Attribution-NoDerivs 3.0 Unported creativecommons.org/licenses/by-nd/3.0 Isolated Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/ Beach Bum Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/

Welcome to the "technology special" wherein we discuss emergence of electric vehicles, lithium-ion batteries, and renewable energies from a hard-rock mining perspective! Our senior staff writer Trish Saywell joins the show from Toronto to talk about her recent research into the cobalt industry. Including: Robert Friedland's Clean Teq Holdings (ASX: CLQ); and First Cobalt (TSXV: FCC; US-OTC: FTSSF), Cobalt One (ASX: CO1) and CobalTech Mining (TSXV: CSK). Meanwhile, Matt discusses a recent "Battery Materials Update" from Canaccord Genuity, and his interview with Cobalt 27 Capital‘s (TSXV: KBLT) chairman Anthony Milewski about its recent $200-million initial public offering (IPO). We then hop over to London to check out comments from Lukas Lundin on the state of energy markets, and how he feels about lithium and cobalt! Timeline: A touch of macro economics: 3:00 Cobalt corner ft. Trish Saywell: 6:05 Matt talks Cobalt 27 IPO: 15:25 Lukas Lundin at the Canadian Mining Symposium: 18:20 Articles referenced: First Cobalt proposes mergers with Cobalt One and CobalTech: http://www.northernminer.com/news/first-cobalt-proposes-friendly-mergers-cobalt-one-cobaltech/1003787470/ Cobalt 27 IPO provides ‘pure play’ exposure to cobalt: http://www.northernminer.com/news/cobalt-27-wants-offer-pure-play-battery-metal-exposure/1003787537/ Castle Silver Resources markets cobalt potential to Asian buyers: http://www.northernminer.com/news/castle-silver-resources-markets-cobalt-potential-asia/1003787103/ Robert Friedland: Celebrating a lifetime of achievement: www.northernminer.com/people-in-mini…nt/1003785716/ Clean Teq’s Syerston project could produce cobalt for more than twenty years: http://www.northernminer.com/news/clean-teqs-syerston-project-produce-cobalt-twenty-years/1003787383/ Robert Friedland, Lukas Lundin, David Garofalo and Kelvin Dushnisky to be featured speakers at TNM’s Canadian Mining Symposium in London: www.northernminer.com/stock-markets-…on/1003784168/ Cobalt ‘moving into a global deficit’: www.northernminer.com/news/everyone-…lt/1003786965/ Lithium producers ramp up: www.northernminer.com/news/lithium-p…es/1003786089/ Music Credits: Energy Recorded by Bensound (www.bensound.com/royalty-free-music/track/energy) Licensed under Creative Commons: By Attribution-NoDerivs 3.0 Unported creativecommons.org/licenses/by-nd/3.0 Isolated Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/ Beach Bum Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/

We're tackling technological advances, earthquakes and surficial geology in this week's Northern Miner podcast. Lesley sits down with David Huntley from the Geological Survey of Canada to talk about the science of tectonics, earthquakes and tsunami's, including discussion on "the big one" and its potential impact on Canada's west coast. We then drop in on the Northern Miner's Canadian Mining Symposium in London, England, to catch highlights from a chat with entrepreneur Robert Friedland. Group Publisher Anthony Vaccaro quizzes Friedland on what technologies might disrupt mining, and which minerals might see rising demand based on trends in electric vehicles and power. Timeline: A touch of macro economics: 2:40 Technological disruptions in mining ft. Robert Friedland: 6:04 Geology Corner - Earthquake & Tsunami edition ft. GSC's David Huntley: 21:45 Articles referenced: Timeline: The adventures of Robert Friedland: http://www.northernminer.com/news/timeline-adventures-robert-friedland/1003785851/ Robert Friedland: Celebrating a lifetime of achievement: http://www.northernminer.com/people-in-mining/robert-friedland-celebrating-lifetime-achievement/1003785716/ Robert Friedland, Lukas Lundin, David Garofalo and Kelvin Dushnisky to be featured speakers at TNM’s Canadian Mining Symposium in London: http://www.northernminer.com/stock-markets-investing/robert-freidland-lukas-lundin-featured-speakers-tnms-canadian-mining-symposium-london/1003784168/ Cobalt ‘moving into a global deficit’: http://www.northernminer.com/news/everyone-loves-cobalt/1003786965/ Lithium producers ramp up: http://www.northernminer.com/news/lithium-producers-ramp-output-demand-rises/1003786089/ Music Credits: Energy Recorded by Bensound (www.bensound.com/royalty-free-music/track/energy) Licensed under Creative Commons: By Attribution-NoDerivs 3.0 Unported creativecommons.org/licenses/by-nd/3.0 Isolated Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/ Beach Bum Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/

We're coming in hot this week with another informative, and entertaining, episode of the Northern Miner podcast. Lesley sits down with Jennifer Neild from Australian-based Hiseis to talk about hard-rock seismic technology and how the processing and interpretation of results is evolving. Why are companies excited about the technology and where might it lead in the future? The Geology Corner strives to get to the bottom of the science. Meanwhile, Matt hits the next stop on his intrepid global zinc journey. Its been quite the year for the industrial metal, and we're on the trail looking for promising zinc deals across the globe. This week we visit with the president and CEO of Vendetta Mining (TSXV: VTT; US-OTC: VDTAF) to chat about the Pegmont zinc-lead project in northwest Queensland, Australia. The company is in the midst of a 10,000-metre drill program and expects to put out a new resource estimate on the project by the end of the second quarter. We talk Broken Hill Type (BHT) deposits, geological models, and zinc markets! Bonus: Matt digs into Canaccord Genuity’s Director of ETF Trading Eric Cheung "Index Rebalance 101" Q&A. Timeline: A touch of macro economics: 3:15 Canaccord's "Index Rebalance 101": 6:04 Vendetta Mining CEO Michael Williams: 10:00 Geology Corner goes seismic! ft. Jennifer Neild of Hiseis: 20:35 Update on Goldcorp's (TSX: G; NYSE: GG) Coffee: 33:00 Articles referenced: PDAC 2017: Copper, zinc looking good for 2017: http://www.northernminer.com/commodities-markets/pdac-2017-copper-zinc-looking-good-2017/1003784440/ Tinka surges on zinc discovery in Peru: http://www.northernminer.com/news/tinka-surges-south-ayawilca-zinc-discovery-peru/1003785198/ Arizona Mining on path to zinc production at Taylor: http://www.northernminer.com/news/arizona-mining-ceo-path-zinc-production-taylor/1003785545/ Trevali to buy Glencore’s Rosh Pinah, Perkoa mines: http://www.northernminer.com/news/trevali-ceo-discusses-glencore-deal-zinc-markets/1003784876/ Supplier Snapshot: Eight companies set on growth: http://www.northernminer.com/news/supplier-snapshot-eight-companies-set-growth/1003783832/ TNM Video: Interview with Goldcorp executive VP Brent Bergeron at Coffee: http://www.northernminer.com/news/tnm-video-interview-goldcorp-executive-vice-president-brent-bergeron/1003778137/ Music Credits: Energy Recorded by Bensound (www.bensound.com/royalty-free-music/track/energy) Licensed under Creative Commons: By Attribution-NoDerivs 3.0 Unported creativecommons.org/licenses/by-nd/3.0 Isolated Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/ Beach Bum Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/

We're back with an action-packed episode that tackles, in equal parts, the state of junior mining markets and extinction level events. Lesley swings by for another edition of the Geology Corner wherein she enlightens us on tsunamis, dinosaurs, and Hollywood. Meanwhile, Matt unveils his full interview with Exploration Insights' analyst Brent Cook. The discussion includes the state of junior markets, analyzing greenfield investment opportunities, the Australian Stock Exchange, and innovation in geoscience! Bonus: Matt discusses deals between Osisko Gold Royalties (TSX: OR; NYSE: OR) and Orion Mine Finance, and Iamgold (TSX: IMG; NYSE: IAG) and Japan's Sumitomo Metal Mining! Timeline: Van Eck GDXJ update: 3:30 Osisko and Orion $1.1B deal: 6:10 Iamgold and Sumitomo JV: 10:40 Geology Corner ft. extinction level events!: 11:50 Exploration Insights' Brent Cook: 24:43 Articles referenced: Osisko Gold to buy Orion’s royalty portfolio for $1.1B: http://www.northernminer.com/news/osisko-gold-buy-orions-royalty-portfolio-1-1b/1003786858/ Barrick, Acacia embroiled in political turmoil in Tanzania: www.northernminer.com/news/barrick-a…ia/1003786659/ Eldorado eyes the Abitibi with $590M Integra deal: http://www.northernminer.com/news/eldorado-eyes-abitibi-590m-integra-deal/1003786331/ Denison Mines CEO David Cates: Uranium market ‘quite thin’: http://www.northernminer.com/news/will-uranium-prices-rise-high-enough-justify-new-mines/1003786784/ Lundin Gold secures funds for its improved FDN project: http://www.northernminer.com/news/lundin-gold-secures-funds-improved-fdn-project/1003786722/ Leagold to buy Goldcorp’s Los Filos: http://www.northernminer.com/news/leagold-management-talks-strategy-los-filos/1003784456/ Music Credits: Energy Recorded by Bensound (www.bensound.com/royalty-free-music/track/energy) Licensed under Creative Commons: By Attribution-NoDerivs 3.0 Unported creativecommons.org/licenses/by-nd/3.0 Isolated Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/ Beach Bum Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/

Matt sits down with Exploration Insights (https://www.explorationinsights.com/) analyst Brent Cook to talk about the state of junior markets. This is an interlude from a longer conversation we'll be airing during the Northern Miner podcast episode #62 the week of June 5. Brent digs into his current outlook on exploration and where he's looking for his next investment opportunities. In addition, we discuss looking for junior opportunities that might attract a major mining company. Music Credit: Chill Wave Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/

There's plenty to talk about on this week's Northern Miner podcast as Matt swings by the International Metal Writers Conference in Vancouver to catch-up with some of our favourite newsletter analysts and companies. First, we sit down with the Mercenary Geologist, Mickey Fulp, to catch up on junior mining markets. Mickey digs into exploration innovation, the state of copper markets, and unveils his new red-metal pick: Trilogy Metals (TSX: TMQ; NYSE-MKT: TMQ). We talk district-scale land packages, the next generation of discoveries, and much more! Then Matt checks in with Yukon Mining Alliance chair, and Western Copper and Gold (TSX: WRN; NYSE-MKT: WRN) CEO, Paul West-Sells to talk about the upcoming field season in the Yukon and how the presence of so many major gold miners has impacted the jurisdiction. We discuss infrastructure challenges, including the potential for liquefied natural gas (LNG), and geopolitical risk. Timeline: Mickey Fulp junior mining and commodity update: 3:15 State of junior markets and exploration: 5:10 Investment my the gold majors: 7:10 Innovation in exploration: 9:10 Base metal update ft. copper & zinc: 13:10 Precious metal update ft. gold & silver: 20:45 Dr. Paul West-Sells of the Yukon Mining Alliance: 26:45 B.C. NDP-Green coalition: 37:15 Articles referenced: Lukas Lundin: Copper is the ‘commodity of choice’: http://www.northernminer.com/news/lukas-lundin-copper-commodity-choice/1003786598/ Barrick, Acacia embroiled in political turmoil in Tanzania: http://www.northernminer.com/news/barrick-acacia-embroiled-political-turmoil-tanzania/1003786659/ Facts ‘n’ Figures: Global silver mine production drops for first time in 14 years: http://www.northernminer.com/commodities-markets/facts-n-figures-global-silver-mine-production-drops-first-time-14-years/1003786595/ Facts ‘n’ Figures: World copper mine production soars 5% in 2016, ICSG finds: www.northernminer.com/commodities-ma…ds/1003785422/ AllianceBernstein: More investment in copper needed: www.northernminer.com/news/investmen…ys/1003785134/ Eldorado eyes the Abitibi with $590M bid for Integra: http://www.northernminer.com/news/eldorado-eyes-abitibi-590m-integra-deal/1003786331/ Music Credit: Energy Recorded by Bensound (www.bensound.com/royalty-free-music/track/energy) Licensed under Creative Commons: By Attribution-NoDerivs 3.0 Unported creativecommons.org/licenses/by-nd/3.0 Music Credit: Beach Bum Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/