The Belcourt and Saxon properties are located approximately 85 km south of Tumbler Ridge. The Belcourt property comprises two deposits, Belcourt North and Belcourt South (the “Belcourt Group”), within the same coal trend, for which the resources and topography are favourable to mining. Similarly, the Saxon properties comprise four main deposits, Saxon/Omega, Saxon East, Saxon North and Saxon South (the “Saxon Group”), within the same coal trend, for which
the resources and topography are also favourable to mining.

Significant improvement of the transportation infrastructure in the area is required to realize the potential of the Belcourt and Saxon properties.

The Company has a 50-50 joint venture (the “Joint Venture”) with Peace River Coal Inc. to further explore and develop the Saxon and Belcourt coal properties. Extensive additional exploration was conducted on the properties by the joint venture, and a draft feasibility study is currently being reviewed by the partners. Additional exploration is underway in the Belcourt West property in areas closest to the proposed location of the Belcourt processing plant.  The property can produce up to 5 Mt/a starting as early as 2013.

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