Besra reserves & resources table

Notes to Global Reserves and Resources Tables

(1)             Bau Resource Estimate

No mining was conducted at Bau Project during the quarter ended June 30, 2013. Current Bau resources are pursuant to an estimate conducted by TMC/SA, dated February 28, 2012. This estimate employed lower grade-cutoffs of 0.50 g/t Au and 2.00g/t Au respectively for near surface (open-pit) and deeper (u/g) deposits. Upper cutoffs ranged from 3.3 g/t Au in respect of tailings and from 6.47 g/t Au to 33.13 g/t Au in respect of other deposits, depending upon grade statistics for each deposit. This estimate supersedes an earlier estimate by the same consultants dated June 15, 2010.

A prior estimate (of partial Bau resources) was completed in November 2008 by Ashby Consultants Ltd (ACL) of New Zealand. The ACL estimate (conducted in accordance with JORC standards) is superseded by the TMC/SA estimate, which was conducted in accordance with NI 43-101 and CIMM definition standards. Copy of the 2010 TMC/SA technical report in respect of the Bau resource estimate may be viewed within the Company’s filings at sedar.com.

Ongoing Bau project resource drilling during 2012 enabled an (in-house) resource update (December 2012) in respect of the Jugan Deposit. This update used industry standard methods to incorporate the results of 2012 drilling. The results of this (Jugan) upgrade are incorporated within quarter ended June 30, 2013 resource table.

 

(2)             SEC Note

The mineral reserve and mineral resource estimates contained in this table have been prepared in accordance with the Canadian Securities Administrators’ National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). These standards are similar to those used by the United States Securities and Exchange Commission’s (SEC) Industry Guide No. 7. However, the definitions in NI 43-101 differ in certain respects from those under Industry Guide No. 7. Accordingly, mineral reserve and mineral resource information contained herein may not be comparable to similar information disclosed by U.S. companies.

CAUTIONARY NOTE TO US INVESTORS CONCERNING ESTIMATES OF MEASURED AND INDICATED RESOURCES

This section uses the term measured and indicated resources. We advise US investors that while those terms are recognised and required by Canadian regulations, the US Securities and Exchange Commission does not recognise them. US investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves.

CAUTIONARY NOTE TO US INVESTORS CONCERNING ESTIMATES OF INFERRED RESOURCES

This section uses the term inferred resources. We advise US investors that while this term is recognised and required by Canadian regulations, the US Securities and Exchange Commission does not recognise it. “Inferred resources” have a great uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. US investors are cautioned not to assume that part or all of an inferred resource exists, or is economically and legally mineable.

Exchanges

OTC: BSRAF
See our media release of 17 October 2014. Previously listed on:
TSX: BEZ
ASX: BEZ
FRANKFURT: OP6

Important note

Besra is currently subject to Cease Trade Orders (CTOs) by Canadian regulators and is working towards curing its filing defaults, having the CTOs lifted and returning to growing shareholder value.