Leonard's Find 2014 reports - Newfoundland and...

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001M/0924

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2nd Year (lic#021417M)

And 3rd Year (lic#019812M)

Assessment Report

(Prospecting/Property Visit)

On the

Leonard’s Find Molybdenum Property

South Coast, Newfoundland

Licence #019812M and Licence #021417M,

NTS 1M/12

Zone 21

Newfoundland and Labrador

Submitted by:

Darrin Hicks

September, 2014

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Table of Contents

Page Introduction 3 Property Overview 3 Location and Access 3 Regional and Local Geology 6 Exploration History 8

Prospecting 9 Conclusion and Recommendations 11 References 11

List of Figures/Table

Figure 1.Newfoundland NTS Map 4 Figure 2.Claims/ Property Location Map 5

Figure 3.Simplified Geology of Newfoundland 7 Figure 4: Sample Location Map 10 Table 1: 2013 Sample Co-ordinates/Results 10

List of Appendices

Appendix 1.Assay Certificates Appendix 2.Quest Rare Minerals property visit. Appendix 2.Statement of Expenditures

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Introduction This report describes the results of prospecting conducted in 2014 to fulfill 2nd and 3rd year assessment requirements for Licence 021417M and 019812M, respectfully (Figure 2). Property Overview The Leonard’s Find Molybdenum property is located on the South Coast of Newfoundland on NTS 001M/12(Figure 1). The Licence 019812M consists of two (2) claims and licence 021417M consists of fourteen (14) claims. The two claims were staked in January of 2012 to cover an occurrence, 001M/122/Mo 004, of Molybdenum (figure 2). The remaining claims where staked to include the surrounding Mo occurrences (figure 2). Location and Access The Leonard’s Find Molybdenum property is located on the South Coast of Newfoundland. Travel by vehicle on route 362, off route 360, and then on foot is the only means of accessibility to the property. The property is less than 500m from route 362 but no roads or trails cross the claim boundary.

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FIGURE 1: NEWFOUNDLAND NTS MAP

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FIGURE 2.CLAIMS/PROPERTY MAP

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Regional and local Geology The Gaultois map area (NTS-1M/12) embodies the south-western extremity of the Avalon Zone of the Newfoundland Appalachians. The Hermitage Bay Fault, a northeast trending, brittle structure, extends into the offshore under Hermitage Bay, and separates late Precambrian rocks of the Avalon Zone in the southeast from adjacent lower Paleozoic rocks of the Gander and Dunnage zones in the northwest ( Figure 3). The oldest rocks in the map area belong to the Tickle Point Formation. The submarine and sub aerial volcanic rocks of the Tickle Point Formation were intruded by gabbroic to granitic plutonic and hypabyssal rocks of the Furby's Cove intrusive suite prior to the deposition of a volcano-sedimentary cover, the Connaigre Bay Group. The Simmons Brook intrusive suite, consists of granitic and tonalitic rocks that intrude the Connaigre Bay Group and older sequences, and is overlain nonconformably by Devonian strata. Gabbroic and dioritic rocks of the Grole intrusive suite intrude the Tickle Point Formation, the Furby’s cove intrusive suite, and parts of the Connaigre Bay Group. The rocks in this area are a part of the Avalon Tectonic Zone, and consist of relatively undeformed volcanic sedimentary and intrusive rocks. The Stratigraphic unit is of the Harbour Breton Granite which consists of medium to coarse grained pink alaskitic rock types. Deformations are restricted to the development of numerous fault zones and open folding. Most of the shear zones and faults are northeast trending. Some of these are high angle reverse faults, dipping steeply to the northwest. Most of the rocks within the Avalon Zone are involved in upright open folds with northeast trending gently plunging axes. The axes generally plunge to the southwest.

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FIGURE 3: SIMPLIFIED GEOLOGY OF NEWFOUNDLAND

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Exploration History The first mapping of the Connaigre Peninsula was by Widmer (1950) who mapped the low grade volcanic and sedimentary rocks and proposed that they be named Connaigre Bay volcanics. Greene and O'Driscoll (1976) and O'Driscoll (1977) systematically mapped the Connaigre Bay volcanics and elevated the succession to group status, subdividing it into four formations. In the 1970's, Colman-Sadd of the Geological Survey began a study of the south coast of Newfoundland, including the Gaultois area, which was the focus of a Ph. D thesis (1974) at Memorial University of Newfoundland. Maps and reports (Colman-Sadd et al.1979) were also produced from the results of this project. In 1992, the Geological Survey began mapping and integrated U-Pb geochronological investigations of the Hermitage Peninsula as part of a larger project to understand the nature, relationship, and timing of late Precambrian magamatic and mineralizing events in the south-western Avalon Zone of the Newfoundland Appalachians. The molybdenum showing (001M/12/Mo 004)was discovered and named after Leonard Mullen, a prospector trainee with Kemble Widmer, who staked claims on the area and later wrote his Ph.D. thesis on this area in the 1930's. J.P. Berrange prospected the area in 1955 for Nalco and B.A. Greene mapped the area for the provincial government in 1975. The showing occurs near the contact between the Ackley City Granite and the Youngs Cove shales. The mineralization consists of molybdenite in quartz that has been injected into the granite. The molybdenite occurs as fine grained disseminations and as crystals from 1.25 to 2.5 cm in diameter, in milky quartz veins, knots and irregular masses in quartz feldspar porphyry .The quartz consists of multiple veins, knots and irregular masses. In places the porphyry has been bleached and silicified by hydrothermal action. The molybdenite occurs only in the quartz, frequently as well formed hexagonal crystals up to 4.0 cm in diameter.

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Yellow oxide molybdenite was also found in the quartz, but not in the granite, and was noted not to be radioactive (Berrange, 1955). The mineralization is considered to be less than 1 percent. The area containing the quartz veining measures approximately 30 m x 230 m (Stewart, 1958). Prospecting Traditional prospecting was conducted in 2012 which consisted of collecting rocks samples from outcrop and float. The rocks collected where quartz rocks with visible indications of Molybdenum. Traditional prospecting was also conducted in 2013 which consisted of collecting rocks samples from outcrop and float. Eleven rocks were collected with 2 rocks, LF-329-13 and Rocks LF-330-13(figure 4), returning anomalous values >220ppm Mo. Quest Rare Minerals Ltd conducted a property visit, in July, to evaluate the mineral potential. Seven samples were collected from outcrop and subcrop. Anomalous Mo results ranged from 267 ppm to 12700 ppm. One of the rocks returned 909ppm Sn. (Quest’s written report containing results/maps etc. can be viewed in the appendix). The pulps from rocks LF-329-13 and Rocks LF-330-13(figure 4) were assayed for Mo Ore grade analyses. LF-329-13 returned 1.5%Mo. Assay certificate can be viewed in the appendix.

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Figure 4: Sample Location Map ample No. Rock Type Northing Easting Results

LF-BR-13 QUARTZ 5270045 612298 LF329-13 QUARTZ 5268866 611947 >220ppm Mo LF330-13 QUARTZ 5269235 612155 >220ppm Mo LF359-13 QUARTZ 5269327 612403 LF360-13 QUARTZ 5269327 612403 LF361-13 QUARTZ 5269303 612401

LF361A-13 QUARTZ 5269303 612401 LF361B-13 QUARTZ 5269276 612382 LF361C-13 QUARTZ 5269276 612382 LF362-13 QUARTZ 5269275 612381 PC363-13 QUARTZ 5269275 612381

TABLE 1: 2013 Sample Co-ordinates/Results

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Conclusions and Recommendations The historical and the present prospecting results are very encouraging. One of the samples taken by Quest returned an anomalous value of 909ppm Sn. This could represent a new direction for the property. The property will require more prospecting to find other Mo occurrences and more Sn occurrences. References Berrange, J P 1955: Field report on Salmonier Cove Pond area, Newfoundland. Newfoundland and Labrador Corporation Limited Unpublished report [GSB# 001M/12/0048] Colman-Sadd, S P 1977: Gaultois map area. Report of Activities, 1976. Mineral Development Division, Department of Mines and Energy, Government of Newfoundland and Labrador Report 77-01, pages 15-20. [GSB# NFLD/1051] Colman-Sadd, S P 1978: Gaultois map area [1M/12], Newfoundland.Report of Activities for 1977. Mineral Development Division, Department of Mines and Energy, Government of Newfoundland and Labrador Report 78-01, pages 90-96. [GSB# NFLD/0973] Greene, B A and O'Driscoll, C F 1976: Gaultois map-area.Report of Activities, 1975. Mineral Development Division, Department of Mines and Energy, Government of Newfoundland and Labrador Report 76-01, pages 56-63. [GSB# NFLD/0926] Harrison, W D 1953: 2 geology maps. Newfoundland and Labrador Corporation Limited Unpublished report [GSB# 001M/0029] Widmer, K 1950: The geology of the Hermitage Bay area, Newfoundland. PhD thesis, Princeton University. 502 pages. [GSB# 001M/0008

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APPENDIX 1

Assay Certificates

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APPENDIX 2

Quest Rare Minerals Ltd

Quest PEPD Target Memo Leonard’s Find

Province: Newfoundland

Target Name: Leonard’s Find

Status: Indication

Objectives of Property Evaluation:

• Verify MODS • Establish or examine continuity of alteration and mineralization between various MODS

Status of Target: Quest signed a confidentiality agreement with prospector Darrin Hicks on July 4th, 2013 to evaluate this property. The property extents include all significant MODS, although others occur without claims to the southwest; these MODS were until recently held by Alterra Resources but were allowed to lapse.

Geology: The rocks in this area are a part of the Avalon Zone, and consist of relatively undeformed volcanic sedimentary and intrusive rocks (Figure 1). Deformation is restricted to the development of numerous fault zones and open folding. Siliciclastic sedimentary units are well defined as magnetic lows on the regional airborne first derivative magnetics (Figure 2). Most of the shear zones and faults are northeast trending (Figure 2). Some of these are high angle reverse faults, dipping steeply to the northwest. Most of the rocks within the Avalon Zone are involved in upright open folds with northeast trending gently plunging axes. The axes generally plunge to the southwest. The showings occur near the contact between the Old Woman Stock, an early to late Devonian granite, and siliciclastic marine rocks of the Ediacaran to Late Cambrian Youngs Cove Group. The two granites are characterized by relative gravity lows (Figure 3) and in the case of the Old Woman Stock, thorium radiometric highs (Figure 4).

Mineralization: Mo (molybdenite, oxide molybdenite)

Molybdenite mineralization occurs locally as or flakes well-formed hexagonal crystals up to 4.0 cm in diameter. Yellow oxide molybdenite was also found in the quartz, but not in the granite. Molybdenite mineralization is hosted by vuggy, milky quartz veins, in knots and in irregular masses in the contact porphyry zone of the Old Woman Granite. In places the porphyry has been bleached and silicified by hydrothermal alteration, but overall the granite is not pervasively altered. Molybdenite is rare to absent

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in the granite between mineralized veins or pods, appearing to be very discretely associated with late quartz.

Results: On July 18th Quest geologists Patrick Collins, Angela Buchanan and Chris Moran met with prospector Darrin Hicks in Head of Bay D’Espoir and drive south to his Leonard’s Find property. The weather was very poor, with low fog, strong winds and steady rain to drizzle, though temperatures were comfortable. The terrain is open treeless rolling hills with broad tree-filled valleys. Most mineralized zones are restricted to gently sloping hillsides and flat areas and are easily accessed on foot.

Mr. Hicks led us around a series of newly discovered molybdenum showings and the historical MODS showing on his property that were accessible without venturing deep into the field on ATV. Mineralization comprises coarse-grained (up to 3 cm in diameter) books and flakes of molybdenite within narrow (<5 cm) milky white quartz veins and less commonly in quartz-rich porphyry. Mineralization was noted to be quite local, with no obvious continuity of veining or mineralization between sample sites, though commonly where quartz veins were located at least trace molybdenite was noted. The main MODS showing did not contain very widely distributed Mo and other newly discovered areas sometimes exhibited better examples of Mo mineralization.

Quest collected seven samples, which are summarized in Table 1 and presented in Figures 5-10. All samples were collected from outcrop or subcrop which had obviously come from nearby. Samples were analyzed by ActLabs in Ancaster Ontario using a combination of three analytical techniques in a custom package prepared for Quest to test a select suite of metals. This package includes INAA, sodium peroxide fusion ICP/MS and aqua regia.

Sample Date Lithology Sn W Mo U Cu Zn Pb In Ga Ge Au Ag Li Sb ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppb ppm ppm ppm

13345 7/18/2013 quartz vein 2.7 93 12700 21.6 4 < 30 61 < 0.2 7.3 5 < 2 2.4 21 < 0.2

13346 7/18/2013 quartz vein < 0.5 34 1180 7.6 5 < 30 25 < 0.2 6.2 2 < 2 < 0.2 9 0.8

13347 7/18/2013 quartz vein 32.9 24 2460 < 0.5 < 2 < 30 80 < 0.2 6.7 1 < 2 0.5 15 0.9

13348 7/18/2013 quartz vein in qtz-fsp porphyry 909 < 1 267 3.4 < 2 < 30 30 < 0.2 10.6 2 < 2 < 0.2 8 0.4

13349 7/18/2013 quartz vein < 0.5 < 1 7390 4.8 < 2 < 30 23 < 0.2 6.4 2 < 2 < 0.2 13 1.1

13350 7/18/2013 quartz vein < 0.5 5 2570 3.4 6 40 68 < 0.2 5.4 < 1 < 2 0.4 13 0.9

13351 7/18/2013 quartz vein 23.4 6 980 4.1 14 < 30 81 0.3 16 1 < 2 0.7 17 4.8

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Leonards Find

Quest Rare MineralsNewfoundland PEPD

Leonards FindBedrock Geology

NAD83/ZONE21NScale: 1:100,000

Last Modified: 7/9/2013

Newfoundland Selected MODSAg

!( Be!( Bi!( Fl!( Mo!( Sb

!( Sn!( W!( Zn!( Zr!( Other

Bedrock GeologyLate Devonian hypabyssal felsic (lD:BR)Late Devonian siliciclastic non-marine conglomerate (lD:Gss)Early to Late Devonian plutonic felsic (D:W)Early to Late Devonian siliciclastic non-marine (D:C)Early to Late Devonian plutonic ultramafic (D:mx)Early to Late Devonian siliciclastic non-marine conglomerate(D:PCuc)Late Cambrian siliciclastic marine shale (lC:YS)Middle Cambrian siliciclastic marine shale (mC:YC)Early Cambrian siliciclastic quartzite (eC:YRq)Ediacaran to Early Cambrian siliciclastic marine (EC:YHs)Ediacaran siliciclastic non-marine sandstone (E:LMs)Ediacaran siliciclastic non-marine (E:LRaaq)Ediacaran siliciclastic non-marine conglomerate (E:LRcc)Ediacaran siliciclastic marine (E:LRb)Ediacaran volcanic non-marine mafic (E:LMvma)Ediacaran volcanic non-marine felsic (E:LBvf)Ediacaran volcanic non-marine felsic (E:LMvf)Ediacaran plutonic felsic (E:BTg)Neoproterozoic plutonic intermediate (N:Sd)Neoproterozoic metamorphic (N:C?m)Neoproterozoic volcaniclastic mafic (N:C?t)

NL Target AreasRiversMajor waterbodies

Newfoundland RoadsHighwaySecondary roadsUnpaved Road

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Figure 1

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Leonards Find


Leonards FindAirborne Magnetics (1VD)








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Figure 2

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Leonards Find


Leonards FindAirborne Gravity (1VD)








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Figure 3

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Leonards Find


Leonards FindAirborne Thorium Radiometrics








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Figure 4

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Leonards FindSample Geochemistry



Bedrock Geology2013 PEPD NL Z21 EventsLate Devonian hypabyssal felsic (lD:BR)Late Devonian siliciclastic non-marine conglomerate (lD:Gss)Early to Late Devonian plutonic felsic (D:W)Early to Late Devonian siliciclastic non-marine (D:C)Early to Late Devonian plutonic ultramafic (D:mx)Early to Late Devonian siliciclastic non-marine conglomerate(D:PCuc)Late Cambrian siliciclastic marine shale (lC:YS)Middle Cambrian siliciclastic marine shale (mC:YC)Early Cambrian siliciclastic quartzite (eC:YRq)Ediacaran to Early Cambrian siliciclastic marine (EC:YHs)Ediacaran siliciclastic non-marine sandstone (E:LMs)Ediacaran siliciclastic non-marine (E:LRaaq)Ediacaran siliciclastic non-marine conglomerate (E:LRcc)Ediacaran siliciclastic marine (E:LRb)Ediacaran volcanic non-marine mafic (E:LMvma)Ediacaran volcanic non-marine felsic (E:LBvf)Ediacaran volcanic non-marine felsic (E:LMvf)Ediacaran plutonic felsic (E:BTg)Neoproterozoic plutonic intermediate (N:Sd)Neoproterozoic metamorphic (N:C?m)Neoproterozoic volcaniclastic mafic (N:C?t)

Newfoundland RoadsHighwaySecondary roadsUnpaved RoadRiversMajor waterbodies

Newfoundland 2013 SamplesMo ppm

!( 0.5 - 50.0!( 50.1 - 100.0!( 100.1 - 500.0!( 500.1 - 2000.0!( 2000.1 - 25000.0

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Figure 5

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Newfoundland 2013 SamplesW ppm

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Newfoundland 2013 SamplesSn ppm

!( 0.25 - 66.90!( 66.91 - 233.00!( 233.01 - 565.00!( 565.01 - 3370.00!( 3370.01 - 48600.00

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Figure 7

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Newfoundland 2013 SamplesCu ppm

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Newfoundland 2013 SamplesAu ppb

!( 1.0 - 26.0!( 26.1 - 77.0!( 77.1 - 190.0!( 190.1 - 550.0!( 550.1 - 2000.0

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Figure 9

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Newfoundland 2013 SamplesAg ppm

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Figure 10

Ag Sn Wppm ppm ppm0.2 0.5 1

AR‐ICP FUS‐MS‐Na2O2 INAA13345 Leonards Find 2013‐07‐18 612380.97 5270253.07 qtz vein coarse qtz vein with 0.5cm blebs of mo 2.4 2.7 9313346 Leonards Find 2013‐07‐18 612421.48 5269569.01 quartz vein coarse milky qtz vein with 0.5cm blebs of mo < 0.2 < 0.5 3413348 Leonards Find 2013‐07‐18 612404.14 5269479.55 quartz vein coarse milky quartz vein with coarse mo 2cm 0.5 32.9 2413348 Leonards Find 2013‐07‐18 612338.85 5269483.67 quartz vein in qtz‐fsp porphyry cm scale milky wuth qtz vein with bleb of mo < 0.2 909 < 113349 Leonards Find 2013‐07‐18 612303.39 5269273.79 quartz vein quartz vein with mo in red qtz‐fsp porphyry < 0.2 < 0.5 < 113350 Leonards Find 2013‐07‐18 612029.20 5269074.34 quartz vein quartz vein with coarse mo, 2cm 0.4 < 0.5 513351 Leonards Find 2013‐07‐18 612236.80 5269450.21 quartz vein quartz vein with diss mo, some within granite 0.7 23.4 6

DescriptionSample Project Date Easting Northing Lithology

13345133461334813348133491335013351

Sample

Mo Mo U Cu Zn Pb In Ga Ge Au Ag Li Sb Massppm ppm ppm ppm ppm ppm ppm ppm ppm ppb ppm ppm ppm g1 2 0.5 2 30 1 0.2 0.2 1 2 5 3 0.2

FUS‐MS‐Na2O2 INAA INAA FUS‐MS‐Na2O2 FUS‐MS‐Na2O2 FUS‐MS‐Na2O2 FUS‐MS‐Na2O2 FUS‐MS‐Na2O2 FUS‐MS‐Na2O2 INAA INAA FUS‐MS‐Na2O2 INAA INAA12700 12500 21.6 4 < 30 61 < 0.2 7.3 5 < 2 < 5 21 < 0.2 11180 1150 7.6 5 < 30 25 < 0.2 6.2 2 < 2 < 5 9 0.8 1.012460 2450 < 0.5 < 2 < 30 80 < 0.2 6.7 1 < 2 < 5 15 0.9 1.04267 278 3.4 < 2 < 30 30 < 0.2 10.6 2 < 2 < 5 8 0.4 1.037390 7380 4.8 < 2 < 30 23 < 0.2 6.4 2 < 2 < 5 13 1.1 1.052570 2660 3.4 6 40 68 < 0.2 5.4 < 1 < 2 < 5 13 0.9 1.07980 1030 4.1 14 < 30 81 0.3 16 1 < 2 < 5 17 4.8 1.08

CERTIFICATE OF ANALYSIS

Innovative Technologies Quality Analysis ...

Invoice No.: Invoice Date:

Date Submitted:

Your Reference: 20-Aug-13

PEPD

01-Aug-13

A13-08873

QUEST RARE MINERALS LTD1 Adelaide St. East, Suite 2500PO BOx188Toronto ON M5C 2V9Canada

President Peter CashinATTN:

This report may be reproduced without our consent. If only selected portions of the report are reproduced, permission must be obtained. If no instructions were given at time of sample submittal regarding excess material, it will be discarded within 90 days of this report. Our liability is limited solely to the analytical cost of these analyses. Test results are representative only of material submitted for analysis.

ACTIVATION LABORATORIES LTD.

1336 Sandhill Drive, Ancaster, Ontario Canada L9G 4V5 TELEPHONE +1.905.648.9611 or +1.888.228.5227 FAX +1.905.648.9613

E-MAIL [email protected] ACTLABS GROUP WEBSITE www.actlabs.com

Emmanuel Eseme , Ph.D.

CERTIFIED BY :

REPORT A13-08873

Notes:

7 Rock samples were submitted for analysis.

Code 1E-Ag Aqua Regia ICP(AQUAGEO)Code Quest WSn Sodium Peroxide Fusion(ICPMS) & INAA (INAAGEO)

Values which exceed the upper limit should be assayed for accurate numbers.

Quality Control

The following analytical packages were requested:

Activation Laboratories Ltd. Report: A13-08873Ag Sn W Mo Mo U Cu Zn Pb In Ga Ge Au Ag Li Sb MassAnalyte Symbol

ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppb ppm ppm ppm gUnit Symbol0.2 0.5 1 1 2 0.5 2 30 1 0.2 0.2 1 2 5 3 0.2Detection Limit

AR-ICP FUS-MS-Na2O2

INAA FUS-MS-Na2O2

INAA INAA FUS-MS-Na2O2

FUS-MS-Na2O2

FUS-MS-Na2O2

FUS-MS-Na2O2

FUS-MS-Na2O2

FUS-MS-Na2O2

INAA INAA FUS-MS-Na2O2

INAA INAAAnalysis Method

2.4 2.7 12700 1250013345 21.6 4 < 30 61 < 0.2 7.3 5 < 2 < 5 21 < 0.2 1.0093

< 0.2 < 0.5 1180 115013346 7.6 5 < 30 25 < 0.2 6.2 2 < 2 < 5 9 0.8 1.0134

0.5 32.9 2460 245013347 < 0.5 < 2 < 30 80 < 0.2 6.7 1 < 2 < 5 15 0.9 1.0424

< 0.2 909 267 27813348 3.4 < 2 < 30 30 < 0.2 10.6 2 < 2 < 5 8 0.4 1.03< 1

< 0.2 < 0.5 7390 738013349 4.8 < 2 < 30 23 < 0.2 6.4 2 < 2 < 5 13 1.1 1.05< 1

0.4 < 0.5 2570 266013350 3.4 6 40 68 < 0.2 5.4 < 1 < 2 < 5 13 0.9 1.075

0.7 23.4 980 103013351 4.1 14 < 30 81 0.3 16.0 1 < 2 < 5 17 4.8 1.086

Page 2 of 3

Activation Laboratories Ltd. Report: A13-08873Quality Control

Ag Sn W Mo Mo U Cu Zn Pb In Ga Ge Au Ag Li Sb MassAnalyte Symbolppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppb ppm ppm ppm gUnit Symbol

0.2 0.5 1 1 2 0.5 2 30 1 0.2 0.2 1 2 5 3 0.2Detection LimitAR-ICP FUS-MS-

Na2O2INAA FUS-MS-

Na2O2INAA INAA FUS-MS-

Na2O2FUS-MS-

Na2O2FUS-MS-

Na2O2FUS-MS-

Na2O2FUS-MS-

Na2O2FUS-MS-

Na2O2INAA INAA FUS-MS-

Na2O2INAA INAAAnalysis Method

32.0 14GXR-1 Meas 35.1 3300 31 12216931.0 18.0GXR-1 Cert 34.9 3300 31.0 122164

DH-1a Meas 2640DH-1a Cert 2629

3.6GXR-4 Meas4.00GXR-4 Cert0.3GXR-6 Meas

1.30GXR-6 Cert< 0.5 3FK-N Meas < 2 < 30 248 < 0.2 20.0 2 100.300 0.250FK-N Cert 2.00 10.0 240 0.0200 23.0 2.50 8.5014.2 < 1FK-N Meas 48 < 30 236 < 0.2 22.4 1 8

0.300 0.250FK-N Cert 2.00 10.0 240 0.0200 23.0 2.50 8.50CD-1 Meas 35700CD-1 Cert 35700

14.5 49700NCS DC70018 Meas 338 230 1910 14.9 27 10.000 51700NCS DC70018 Cert 310 240 2000 15.0 29.0

13.8 51100NCS DC70018 Meas 290 240 1990 16.1 29 10.000 51700NCS DC70018 Cert 310 240 2000 15.0 29.0

848 650VS-N Meas 906 1060 379 470 803 700VS-N Cert 800 1000.0 400 460

15800 306MP-1b Meas 28300 152000 21200 562 16100.000 285MP-1b Cert 30690.000 166700.00 20910.000 565

14800MP-1b Meas 28200 163000 20700 555 16100.000MP-1b Cert 30690.000 166700.00 20910.000 565

3.6SAR-M (U.S.G.S.) Meas 3.64SAR-M (U.S.G.S.) Cert

< 0.213346 Orig< 0.213346 Dup

< 0.5 767013349 Orig < 2 30 24 < 0.2 6.6 2 14< 0.5 712013349 Dup < 2 < 30 23 < 0.2 6.3 2 12

< 0.2Method Blank 0.2Method Blank

< 0.5 < 1Method Blank < 2 < 30 < 1 < 0.2 < 0.2 < 1 < 3< 0.5 < 1Method Blank < 2 < 30 < 1 < 0.2 < 0.2 < 1 < 3

< 2Method Blank < 0.5 < 2 < 5 < 0.2 1.00< 1

Page 3 of 3

Date Comment AmountJuly 17th Groceries* 157.69$ July 20th Vancor Motel, Head of Bay D'Espoir** 334.14$ July 20th Esso Gander gas 127.00$

Total 618.83$

ActLabs sample expensesSamples Cost per Sample Unit Cost Total

7 RX1-FD 10.55$ 73.85$ 7 Quest WSn 36.00$ 252.00$ 7 1E-Ag 6.00$ 42.00$

Subtotal 367.85$ HST (13%) -$ 47.82$ Total -$ 415.67$

Quest Salary Expenses***Man-days Staff type Daily Rate Total

6 Project geologist 350.00$ 2,100.00$ 4 Senior geologist 500.00$ 2,000.00$

4,100.00$

Food & Accomodations 618.83$ Sample Costs 415.67$ Salary Costs 4,100.00$

Project Total 5,134.50$

* Expenses pertain to three Quest geologists for two days

*** Salary expenses include office compilation, report writing and field time

Quest Rare Minerals Leonard's Find Expense Summary

Summary

**Hotel costs are calculated from a 3 night stay for three geologists to a single night for this project and include one meal each

14

APPENDIX 3

Statement of Expenditures Report Preparation 2 days@ $100.00/day $200.00 Prospecting 1 days@ $100.00/day $100.00 Vehicle expense 1 days@ $60.00/day $60.00 Atv expense 1 days@ $40.00/day $40.00 Fuel Expense 1 days@ $50.00/day $50.00 Assay expense 2 pulps@ $16.07* $32.14* Meals 1 days@ $20.00/day $20.00 Quest’s expenses $5143.50 Subtotal $5645.64 Overhead 15% $846.85 TOTAL $6492.49 *Hst included (13%) Licence #019812M- $865.36 Licence #021417M- $5627.13

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