As of December 31, 2014, the company-wide mineral inventory increased by 35% over the prior year to 12.8 million gold ounces.

Reserves reported from the Young-Davidson underground mine increased by 207,000 ounces at a consistent grade profile over the prior year. The Company remains encouraged with the quality of the underground reserve base reported from our cornerstone asset as this robust ore body is comprised of low cost, long life, high margin ounces.

Reserves at the El Chanate mine decreased by 37%, due to both mining depletion and a reduction in overall slope angles, while reserve grades increased by 5%. The reduction in planned slope angles came after a thorough external geotechnical review of geotechnical drilling, mapping and slope performance.

Measure & Indicated and Inferred resources increased by a significant 3.5 million gold ounces over the prior year, primarily related to additional measured & indicated and inferred resources from the Kemess East and Lynn Lake Projects.

Notes to Reserves & Resources
Link to Reserves & Resources Table