Mineral Resource and Reserve Summary

table 1

Mineral Reserves Summary (as of December 31, 2018) (Presented on a 100% basis)

Pipe

Classification

Tonnes (Mt)

Carats (Mct)

Grade (cpt)

5034

Probable

9.1

17.4

1.91

Hearne

Probable

4.4

8.7

1.98

Tuzo

Probable

16.6

19.9

1.20

Total

Probable

30.1

46.0

1.53

Stockpile

Probable

1.0

1.9

2.04

Total

Probable

31.1

47.9

1.54

 
  1. Mineral Reserves are reported at a bottom cut-off of 1.0 mm
  2. Mineral Reserves have been depleted to account for mining and processing activity prior to Dec 31 2018.
  3. Q4 2017 depletion is based on forecasted values and may differ slightly from actual depletion.
  4. Mineral Reserves are based upon an updated resource model and reflect any changes to the estimation of Tonnes, Grade and Contained Carats within that resource.
  5. Prices used to determine optimal pit shells have been escalated by factors varying by pit, which are indicative of the respective pits timing and duration.
Mineral Resources Summary (as of December 31, 2018) (Presented on a 100% basis)

Resource

Classification

Tonnes (Mt)

Carats (Mct)

Grade (cpt)

5034

Indicated

1.4

2.1

1.49

Inferred

0.4

1.0

2.09

Hearne

Indicated

0.2

0.3

1.54

Inferred

0.9

1.4

1.61

Tuzo

Indicated

0.2

0.1

0.57

Inferred

10.8

14.6

1.35

Summary

Indicated

1.8

2.5

1.41

Inferred

12.1

17.0

1.40

Stockpiles

Indicated

0.0

0.0

0.0

Inferred

0.0

0.0

0.0

  1. Mineral Resources are reported at a bottom cut-off of 1.0 mm. Incidental diamonds are not incorporated in grade calculations.
  2. Mineral Resources are not mineral reserves and do not have demonstrated economic viability. 
  3. Tonnes and carats are rounded to the nearest 100,000. 
  4. Tuzo tonnes exclude 0.6 Mt of a granite raft and CRX_BX. 
  5. Resources are exclusive of indicated tonnages converted to probable reserves.
  6. Resources have been depleted of any material that was processed prior to and including Dec 31 2018.

table 2

MPV Exploration Properties Kelvin and Faraday (Effective Date Dec 31, 2018)2

Resources (Exclusive of Reserves)

Classification

Tonnes (Mt)

Carats (Mct)

Grade (cpt)

Total

Indicated

8.5

13.6

1.6

Inferred

3.3

5.0

1.54

 

2.See Technical Report filed on SEDAR by Kennady Diamonds Inc. titled “2017 Technical Report – Project Exploration Update and Faraday Inferred Mineral Resource Estimate – Kennady North Project – Northwest Territories, Canada”, with an effective date of November 16, 2017.