NIOCAN

Niocan was established in 1995 as a mineral exploration company focused on financing, developing, and obtaining permits for its 100%-owned Oka Niobium Project and the Great Whale Iron property. Both projects are located in mining-friendly Quebec. The Oka project involves the development of a mining complex based on an underground mine, a concentrator, and a converter for the production of ferroniobium. The project has completed all exploration phases, including two drilling campaigns in 1995, 1996, and 1997 for a total of 22,204 meters, to define the S-60 mineral resources and the zone HWM-2. In February 2010, Niocan announced that the mineral resources of the S-60 deposit were qualified in conformity with National Instrument 43-101 and CIM mineral resource classification.