Regulation to Amend Regulation 51-102 Respecting Continuous Disclosure Obligations

REGULATION TO AMEND REGULATION 51-102 RESPECTING CONTINUOUS DISCLOSURE OBLIGATIONS Securities Act (chapter V-1.1, s. 331.1, par. (1) and (20))

1. Form 51-102F2 of Regulation 51-102 respecting Continuous Disclosure Obligations (chapter V-1.1, r. 24) is amended, in item 5.4 of Part 2 : (1) by replacing “had”, in the text preceding paragraph (1), by “has”; (2) by replacing paragraphs (1) and (2) by the following : “(1) Current Technical Report – The title and date of the most recent technical report for mineral project filed in accordance with Regulation 43-101 respecting Standards of Disclosure for Mineral Projects (chapter V-1.1, r. 15) and the name of each qualified person who prepared, or supervised the preparation of, all or part of the technical report. “(2) Mineral Project Description and Location (a) The location of the mineral project. (b) The nature and extent of your company’s title to, or interest in, the mineral project, including, for greater certainty, surface rights and legal access, and the obligations that must be met to retain your company’s title to, or interest in, the project. (c) The terms of any agreement concerning royalties, back-in rights, payments or other similar agreement, and any encumbrances, to which the mineral project is subject. (d) Any significant factors and risks that may affect the ability to perform work on the mineral project.”; (3) by replacing subparagraph (a) of paragraph (3) by the following : “(a) If relevant, a summary of the prior exploration and development of the mineral project, including for greater certainty the type, amount and results of any exploration and development work undertaken by previous owners, any relevant historical estimates and any previous production from the project.”; (4) by replacing paragraph (4) by the following : “(4) Geological Setting, Mineralization and Deposit Types (a) The regional setting and mineral project geology. (b) The significant mineralized zones encountered on the mineral project, including, for greater certainty, a summary of the surrounding rock types, relevant geological controls, the length, width, depth and continuity of the mineralization and a description of the type, character and distribution of the mineralization. (c) The mineral deposit type and geological model or concepts being applied.”; (5) in paragraph (7) : (a) by replacing “without limitation”, in the text preceding paragraph (a), by “as applicable”;

2 (b) by replacing “employed”, in paragraph (a), by “used”; (c) by replacing “procedures”, in paragraph (d), by “steps”; (6) by striking out, in paragraph (8), “, to the extent known, provide”; (7) by replacing “issues”, in subparagraph (d) of paragraph (9), by “factors”; (8) by replacing “For advanced properties”, in paragraphs (10) and (11), by “For the mineral project, as applicable”; (9) in paragraph (12): (a) by replacing “For advanced properties”, in the text preceding paragraph (a), by “For the mineral project, as applicable”; (b) by replacing subparagraph (a) by the following : “(a) the infrastructure and logistics necessary for the mineral project, and;”; (c) by replacing “, and social or community factors related to the project”, in paragraph (b), by “and other regional or local factors concerning the mineral project”; (10) by replacing paragraph (13) by the following : “(13) Capital and Operating Costs – For the mineral project, as applicable, (a) a summary of capital and operating cost estimates, set out in tabular form, and (b) an economic analysis with forecasts of annual discounted cash flow, net present value, internal rate of return, and payback period.”; (11) by replacing “property”, in paragraph (ii) of the instructions, by “mineral project”. 2. Effective Date (1) This Regulation comes into force on (indicate here the date of coming into force of this Regulation). (2) In Saskatchewan, despite paragraph (1), if this Regulation is filed with the Registrar of Regulations after (indicate here the date of coming into force of this Regulation), this Regulation comes into force on the day on which it is filed with the Registrar of Regulations.