Northcliff Resources Ltd.

Development/History

The Sisson deposit was initially defined through exploration drilling undertaken by Kidd Creek Mines from 1979-1982, and subsequent delineation drilling by Geodex Minerals from 2005-2009. An initial resource estimate was completed in 2007, and updated in 2008 and 2009. Baseline environmental and socioeconomic data collection began in 2007. Preliminary metallurgical test work was also commissioned by Geodex Minerals, with positive results. From 2010-2011, Northcliff completed 66 drill holes (11,175 metres) in support of feasibility work.

In January 2013, Northcliff announced positive results from the Sisson Project Feasibility Study, including:

SISSON PROJECT MINERAL RESERVES
January 2013 at $8.83 Net Smelter Return/tonne cutoff
Category
Tonnes X 1000
NSR ($/t)
Grade
Contained Metal
WO3(%)
Mo (%)
WO3(M mtu)
Mo (M lb)
Proven 105,415 25.48 0.069 0.023 7.3 53.0
Probable 228,948 23.54 0.065 0.020 14.9 101.7
Total 334,363 24.15 0.066 0.021 22.2 154.8

Mineral reserves contained within Ultimate Pit Limit; Assumed Concentrator Recoveries: WO3 -- variable with feed grade, average 77%; Mo -- 82%; APT Plant Recovery of WO3 -- 97%; US$:C$0.9:1; NSR = (WO3% * NSP WO3*Recovery WO3*22.046) + (Mo%*NSP Mo Recovery Mo*22.046); Net Smelter Price (NSP) WO3 = C$17.46/lb; Mo = C$14.50/lb. Cautionary Note to US Investors concerning reserve estimates.

Feasibility Study results in Canadian dollars based on metal prices of US$350/mtu for tungsten (APT) and US$15/lb for molybdenum and exchange rate of 1US$:1C$ for capital cost; Independent Qualified Persons are David W. Rennie, PEng, Roscoe Postle Associates, Inc., Jim Gray, PEng, Moose Mountain Technical Services, Daniel Friedman, PEng, Knight Piesold Consulting, Matt Bolu, PEng, Bolu Consulting Engineering, Inc., Gene Greskovich, PE, and Steven Pozder, PE, Samuel Engineering Inc.

For further details see March 2013 Technical Report filed under the Northcliff profile at www.sedar.com.