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SUMMARY: Dufay Property

INTRODUCTION

Lakeside Minerals Corp. ("Lakeside" or the "Company") is engaged in acquiring and exploring mineral properties in the mining-friendly jurisdiction of Quebec.

The following property summary may contain forward-looking statements relating to the Company's operations or to its business environment. Such statements are based on the Company's operations, estimates, forecasts, and projections, but are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control.

Information on the property or properties described below as well as quoted historical exploration results are derived from filed assessment reports, governmental databases and other sources in the public domain. The Company has not independently verified these results. Selected highlight results may not be indicative of average grades.

The following may contain information on mineralization or mineral deposits on properties in the vicinity of or adjacent to properties that the Company holds or has the right to acquire an interest in. Mineralization or mineral deposits on these nearby properties are not necessarily indicative of mineralization on the Company's properties.

LOCATION

The Dufay property is located in northwestern Quebec some 30 km west-southwest of the city of Rouyn-Noranda, Quebec (2006 population: 39,924) (Figure 1).

The claims are located within the area covered by NTS map sheets 32D03 and 32D04. Most of the claims are situated in the northwestern corner of Dufay Township; a few claims are within Dasserat Township. The western boundary of the claims is adjacent to the Ontario-Quebec provincial border.

DESCRIPTION AND OWNERSHIP

The Dufay property consists of 53 contiguous map designated claims that cover a total area of 27.45 km². All claims are in good standing.

The amount of assessment work required per claim for a two-year renewal varies from $500 to $1200: total work requirement for the claim group is $60,800. Enough work has been carried out by Lakeside to renew all claims.

Figure 1: Location map of the Dufay property in southwestern Quebec. Historical gold production (Moz Au = million ounces gold) is indicated for the nearby Kerr-Addison and Francoeur Mines, as well as the Rouyn-Noranda area. The Francoeur Mine is currently being re-opened by Richmont Mines Inc.

On October 19, 2010, Lakeside entered into an option agreement with three vendors (the"Vendors") to acquire a 100% interest in the Dufay property subject to the following terms and conditions:

• Upon signing: issue 1,000,000 shares of the Company and make a cash payment of $25,000
• First anniversary: issue 250,000 shares of the Company and make a cash payment of $50,000
• Second anniversary: issue 250,000 shares of the Company and make a cash payment of $75,000
• Third anniversary: issue 1,000,000 shares of the Company and make a cash payment of $100,000
• Work commitment:
  
  • $500,000 in the first 18 months: to April 19, 2012
  • $500,000 in the second 18 months : to October 21, 2013
• The Vendors retain a 2% NSR with buyback of 1% NSR for $500,000
• Complete a reverse take-over transaction with a reporting issuer and list on TSX Venture Exchange

ACCESS

The Dufay claim group is easily accessible by several secondary, gravel, and logging roads that lead off Highway 117, which runs between Montreal, Val d'Or, Malartic, Rouyn-Noranda and the Ontario-Quebec border. In Ontario it continues as Highway 66.

The northern edge of the claim group is accessed by driving 38 km westward along Highway 117 from Rouyn-Noranda and then 2 km southward by gravel road.

HISTORY

Previous work

Exploration work in the area of the Dufay property dates back to the late 1920's when copper rich float was discovered on adjacent claims northeast of the property (GM09721). Claims on the property were first staked in 1928 by a group known as Carlson Copper Syndicate. An extensive northeast-trending quartz vein (Vein 1) with disseminated chalcopyrite was discovered in what are now claims 103280, 2162327, 2181771 (Figure 2). Soon thereafter, the Carlson Copper Syndicate initiated trenching, pitting, and diamond drilling.

On the Dufay property, the majority of historical exploration work, including most of the drilling, was carried out over a small area some 1.0 km x 1.3 km, centered on Vein 1, the "main quartz vein", and surrounding area (Figure 2).

The historical gold showing of drill hole 17 (on Vein 1) is now referred to in the Quebec governmental mineral database (SIGEOM) as the "Lac Papitose" showing (Figure 2). A complete description of the exploration history on the property is provided in the Independent Technical Report, Dufay Property, Rouyn-Noranda, Quebec, Canada - Amended and Restated (2011). A brief summary of historical work follows:

1928 - 1937 Carlson Copper Syndicate

• 1928, 1929 - Trenching, pitting
• 1929 - Diamond drilling - Holes # 1 to 12; total of 12 holes, 3000 ft (914 m)
• ? - No record of Holes # 13 and 14

1937 - 1960 Carlson Copper Mines

• 1939 - Diamond drilling - Holes # 15 to 17; total of 3 holes, 1000 ft (305 m)
• 1940,1941 - Diamond drilling - Holes # 18 and 19; total of 2 holes, 789.8 ft (241 m)
• 1941 - Magnetometer survey
• 1945 - Diamond drilling - Holes # S-1 to S-26; total of 26 holes, ~11,367 ft (~3311 m)
• 1950 - Magnetometer survey

1960 New Consolidated Canadian Exploration Ltd.

• Line cutting, electromagnetic and self-potential surveys

1968 Kerr Addison Mines Ltd.

• Electromagnetic survey

1970 Tagami Mines Ltd.

• VLF survey
• Diamond drilling - Holes # 1 to 4; total of 4 holes, 1450 ft (442 m)

1980 Placer Development Ltd.

• Heliborne radiometric survey, geological mapping

1981 Progress Resources Ltd.

• Property evaluation

1983 Group Minier Sullivan

• Diamond drilling - Holes # SD-83-1 to 83-3; total of 3 holes, 2091 feet (637 m)

1986 Les Mines Monoro Lte.

• Outcrop stripping, channel sampling

1993 Raven Resources Inc.

• Magnetic, VLF electromagnetic, and Max-Min II surveys

2007-2008 Les Explorations Carat Inc.

• Outcrop stripping, sampling, and mapping

Figure 2: Schematic geology and drill hole location map of the area surrounding Vein 1, also referred to as the drill hole 17 gold showing or the Lac Papitose showing. Geology and drill hole locations compiled from drill logs and maps from reports GM09722, GM09723, GM09735A, GM09735B, GM03694, GM26284, GM26285, and GM40088: geology base map from GM09722. Drill hole locations are approximate. Geology: quartz vein (red); diabase (pale green); gabbro (dark green); granite: coarse-grained to porphyritic (cgr granite)(pale red); granite: massive, medium-grained (mgr granite)(yellow); Talc-chlorite schist (talc-chl schist)(purple); Metasediments (blue, basemap) - metagreywacke, quartzite, gneiss.

GEOLOGICAL SETTING

Regional Geology

The Dufay property is located within the northwestern portion of the Pontiac subprovince, just south of the Abitibi subprovince, and approximately midway between the mining camps of Kirkland Lake and Rouyn-Noranda. The property is situated 4 km south of the Larder Lake-Cadillac Fault (Figure 3)

Figure 3: Location of the Dufay property in proximity to the Larder Lake - Cadillac Fault Zone (LLCF) (highlighted in yellow) over a simplified geological map of the Abitibi and Pontiac subprovinces showing the distribution of selected major fault zones and location of major gold deposits. (Source: map modified after Dub and Gosselin, 2007)

The Pontiac and Abitibi subprovinces are separated by the Larder Lake-Cadillac Fault (LLCF), a major east-west structure over 250 km in length extending from west of Kirkland Lake in Ontario to east of Val d'Or in Quebec. Major gold deposits situated along and adjacent to the LLCF structure have produced over 85 million ounces of gold (Dub and Gosselin, 2007). The historic Kerr-Addison mine, past production over 11 million ounces of gold, is located on the LLCF just 5 km west of the Dufay property (Figure 1 and Figure 3).

The Pontiac subprovince is a late Archean metasedimentary granitoid-gneiss terrane bound to the north by the Abitibi subprovince and to the south by the Grenville Province (Benn et al., 1994). The northwestern portion of the Pontiac subprovince is dominated by metasediments (biotite schists), tonalitic gneiss, locally abundant mafic to ultramafic rocks (volcanic rocks or sills), amphibolite, and granitc to syenitic felsic intrusive units (Benn et al., 1994; SIGEOM) (Figure 4). The metasediments have been classified as greywackes and argillites or as quartz-rich sandstones and pelites (Benn et al., 1994). Metamorphic grade increases from greenschist facies in the north to amphibolite facies in the south (Benn et al., 1994).

Proterozoic sedimentary rocks of the Cobalt Group overlie Pontiac rocks along the western portion of the Dufay property. North of the property, the Cobalt Group overlies a northeast to east-west segment of the Larder Lake-Cadillac Fault (Figure 4).

Figure 4: Simplified geological map of the area surrounding the Dufay property in the northwestern portion of the Pontiac subprovince. The dominantly metasedimentary Pontiac subprovince is separated from the dominantly mafic volcanic Abitibi subprovince to the north by the east-west trending Larder Lake - Cadillac Fault. The latter are overlain by younger rocks of the Cobalt Group, mainly along segments of the Larder Lake - Cadillac Fault. (Source: map from E-Sigeom Atlas; NTS map sheets 32D03, 32D04; NAD83 UTM 17N)

Regional Structure

Structural studies of the Pontiac subprovince are limited. Benn et al. (1994) describe the structure of the northwest corner of the subprovince, located east of the Dufay property, as follows:



Of particular interest is that two steeply dipping, northeast-trending ductile shear zones were identified. Both dip steeply to the northwest, are dominantly sinistral, and deformation within the shear zones continued during emplacement of monzonitic and granitic plutonic rocks (Benn et al.,1994).

Property Geology

The geology of much of the Dufay property is only known at a regional reconnaissance level (Figure 4). Description of the Dufay property geology is mainly derived from filed assessment reports and is limited to the claims surrounding Vein 1: it is briefly summarized below and a compiled schematic geology map is presented in Figure 2.

Claims in the vicinity of Vein 1 are chiefly underlain by metasediments, greywacke and interbedded quartzites, intruded by northeast-trending mafic to ultramafic dykes or sills, irregular bodies and small dykes of felsic intrusive units and gneiss, and cut by northeast-trending quartz-sulphide veins. Felsic intrusive units have been referred to as "granite", "feldspar-porphyry", "syenite", and "granitic gneiss". The following are brief descriptions or quotes on the geology and structure of the property from assessment reports:

• "The sediments consist mainly of [greywacke] and quartzite although there is considerable interbedded gneissic rock..." (GM09721)
• "The [greywacke rocks are]... largely altered to mica schist" (GM09722)
• "The sediments appear to strike North 50 East and for the most part are quite flat lying, dipping about 25 degrees north west except toward the north where they appear to be steepening to about 60 degrees." (GM09721)
• A diabase dyke, 35 m wide, striking N45⁰E is exposed cutting greywacke and granite for a length of 350 m.
• "In places there is considerable folding and twisting on a small scale..." (GM09721)
• "Schistosity strikes N30⁰W and dips steeply north." (GM09721)
• South of the diabase dyke, a northeast-trending shear zone, consisting of talc-chlorite and sericite schist has been traced for some 800 m. This zone is at least 50 to 60 m wide.
• South of the quartz veins is a northeast-trending gabbro dyke or sill some 30 m wide that extends for at least 1.2 km. It is offset 220 m north by the north-trending fault.
• A north-trending, sinistral fault is reported to offset Vein 1 some 275 m to the north.

There is little detail on both the geology and structure of the Dufay property. Mineralization surrounding the Vein 1 showing (Figure 2), discussed in the following section, appears to be related to major northeast-east trending structural zones that remain to be mapped and defined.

Mineralization

Based on a review of assessment reports and drill logs, the following types of mineralization and zones of "reported" mineralization occur in the general area surrounding the Vein 1 showing (Figure 2). Below, quoted true widths of veins are estimates based on veins being nearly vertical.

Quartz-sulphide veins, stringers, and stockwork

• Disseminated to blebby chalcopyrite +/- pyrite in quartz veins: Examples are Veins 1, 2, 3, and 4, which are described below. Locally this type of mineralization may assay up to several percent copper: up to 16% over 0.93 m, Hole 2 (GM03694); and, may contain up to several grams/tonne gold: Hole 17 intersected 3.14 m averaging 8.82 g/t Au (GM03694). Historically, drill core with this type of mineralization, within quartz veins, was typically assayed for copper, but not always assayed for gold.
• Massive chalcopyrite +/- pyrite veins: An example is found in Hole S-4, which cut a 6.1 m section of massive pyrite plus chalcopyrite (GM09735A). Copper and gold assay values of interest are reported over narrow widths. Hole 2 on Vein 1 cut an interval of 1.5 m described as "the core consists of broken pieces of nearly pure chalcopyrite." (GM09720)
• Zones of quartz stringers or stockwork: These are reported from several drill holes, including Hole S-14.

Vein 1 is described as a vertically dipping white quartz vein striking N50⁰E, varying in width from 0.9 m to 4 m, and having an average width of 1.5 m. Calculated average true width from 12 drill holes is 2.9 m; maximum true width from Hole 19 is 6 m. Vein 1 is at least 760 m long. To the northeast, Vein 1 is cut and displaced by a north-trending fault; to the southwest, it may extend another 200 m (Vein 3).

Vein 1 was stripped over a length of 580 m. It appears to parallel a granite-metasediment contact also striking N50⁰E. It cuts both the metasediments and the granite. The vein is described as follows:

• "white and gray quartz, with fair chalco content and some intermixed chlorite rock (greywacke?)" (GM09720)
• "The quartz appears to be filling a sheared zone on the contact of the sedimentary biotite schists and a coarse-grained granitic rock." (GM09720)
• Vein 1 "follows the contact of a small body of granite with greywacke and cuts the granite for part of its length." (GM09722)
• "The south wall of the vein is altered pink granite, the north wall sheared greywacke." (GM09722)
• "The main vein ...appears to be an intrusive pegmatite at the start and as it continues southwesterly, more quartz appears with considerable replacement of the country gneiss or greywake." (GM09720)
• "Some of the quartz appears zoned. The vein is sheared and brecciated with chalcedonic quartz cementing fragments together." (GM09722)
• "Chalcopyrite occurs along fractures in the quartz, in irregular masses, up to 6 inches [9 cm] in diameter, in brecciated zones, and in disseminated grains. Gold usually accompanies the chalcopyrite." (GM09722)
• Hole 2: "From 213 feet to 218 feet, the core consists of broken pieces of nearly pure chalcopyrite." (GM09720)
• "Locally the quartz is bluish gray in color and carried a fair amount of fine pyrite. This type of quartz and mineralization carried appreciable gold values..." (GM09724)

Vein 2 is located some 60 m northwest of and is subparallel to Vein 1. It is exposed for a minimum length of 150 m. Possible southwest extensions of this vein would give it a length of 460 m.

Vein 2 is described as striking N53⁰E, having a vertical dip, and averaging 0.3 m in width. It most likely varies from a single vein to a series of subparallel quartz veins: Hole 15 cut a quartz vein 2.2 m in true width; Hole 5 cut a series of four quartz veins, 0.1 m to 0.8 m in width, over a true width of 6.2 m. Descriptions of Vein 2 are as follows:

• Vein 2 ...lies in a shear zone in greywacke striking N530E.." (GM09735A)
• "..drill intersections indicate an actual length of 205 ft [ 62 m ] and a probable length of 1500 feet [ 460 m ].." (GM09735A)
• "The bulk of the mineralization consists of chalcopyrite with some fine pyrite. It occurs as splashes in the quartz in many places and in others is quite disseminated". (GM09720)
• "It consists of coarse crystalline quartz, in part ferruginous, well mineralized with massive and disseminated chalcopyrite and some pyrite." (GM09735A)

Vein 3 is located 120 m southwest of Vein 1 and may be a southwestern extension of Vein 1. It strikes N50⁰E, has a maximum width of 1.5 m, and is exposed for a length of 45 m. This vein consists of quartz with "considerable calcite and specularite" (GM09723).

Vein 4 is located 45 m southeast of the talc-chlorite schist zone. It is described in drill logs as follows:

• "S-14, S-15 ... cut sections of vein 2 [ erroneously termed Vein 2 ] consisting of quartz mineralized with chalcopyrite 20 to 24 ft wide [ 6.1 to 7.3 m ]". (GM09735A)
• Hole S-15: "476 ft to 509 ft [ true width: 26 ft or 7.9 m ] - fractured zone, granite gneiss, quartzite and [greywacke] with 30% quartz and scattered chalcopyrite" (GM09735B)
• "Hole S-17 cut 18 ft [ 5.4 m ] of vein matter of which 8 ft [ 2.4 m ] averaged 0.016 oz [ 0.55 g/t Au ] and 3.5% Cu. The remaining 10 ft were not assayed for copper, and the gold assays were negligible." (GM09725)

Zones of quartz stringers or stockwork +/- chalcopyrite +/- pyrite are reported from several drill holes. These zones often accompany or border some of the larger quartz veins. Quartz stringers occur in country rock and cut "granitic" intrusive units. Descriptions of these include the following:

• Hole 10: 150 ft to 214 ft - Granite and syenite; "at 14 ft [ 4.3 m ] from vein, quartz stringers begin to come in".
• Hole S-15: "509 ft to 550 ft [ true width: 32 ft or 9.8 m ] - [ greywacke] and quartzite with quartz injections from 2 ft [ 0.6 m ] widths down to tiny stringers with a small amount of chalco and specularite, a stockwork of stringers on the south side of the vein [ Vein 4 ]" (GM09735B)
• Hole 18: "intersected greywacke intruded by syenite porphyry dykes and a few quartz stringers mineralized with pyrite and chalcopyrite". (GM09723)
• Hole S-23: 331.2 ft to 380 ft [ 48.8 ft or 14.9 m ] - "Irregular stockwork of quartz stringers in matrix of quartzite and granite gneiss". (GM09735B)

Disseminated sulphides

Disseminated sulphides, principally chalcopyrite or pyrite, occur in metasediments, in "granitic gneiss", and in intrusive "granitic" units. This type of mineralization is mainly reported from drill core and was largely overlooked: it was not assayed for copper or gold. The extent or importance of this type of mineralization has never been the focus of previous exploration and remains to be systematically assessed. Drill log descriptions include the following:

• Hole S-5: 285 ft to 292 ft [ width 7 ft or 2.1 m ] "light coloured sericitic [ greywacke ] sheared, considerable scattered fine pyrite".
  • "..there is considerable mineralization scattered throughout this hole specially in the sericite schist". (GM09735B)
• Hole 15: 103 ft to 166 ft [ true width 45 ft or 13.6 m ] zone of interbanded syenite and "altered greywacke", both with weak up to 5% disseminated pyrite. (GM03694)
• Hole 19: 190 ft to 298 ft [ true width 55 ft or 16.7 m ] - Zone of interbanded "syenite porphyry" and "granite gneiss" with weak to 2% disseminated chalcopyrite (GM 09723).
• Hole S-20: 383 ft to 443 ft [ 18.2 m ] - "Coarse reddish to grey granite gneiss, scattered coarse pyrite from 410 [ft] to 425 [ft] [ width of 4.5 m ]." (GM09735B)

Talc-chlorite schist zone

Located 190 m northwest of Vein 1, the talc-chlorite schist zone was labelled early on as a potential target for exploration:

• "The presence of gold and copper mineralization in association with the talc schist zone warrants further exploration of this structure." (GM09725)
• "Four of the holes drilled to prospect this zone yielded some encouragement with low values in gold and respectable values in copper over narrow width..." (GM09725)

The talc-chlorite schist is possibly derived from a sheared basic or ultramafic dyke or sill: Hole S-15 cut wide intersections of "highly altered basic rock, peridotite or serpentine" (GM09735B).

The northeast-trending talc-chlorite schist zone is described from drill logs as a wide zone of brecciation and shearing with quartz veining, quartz stringers, locally displaying disseminated pyrite or chalcopyrite.

• Hole S-23: "There is a wide zone of brecciation from 326 ft to 392 ft [ width of 66 ft or 20 m ]." "Breccia zone: grey and white quartz stringers in fractures, [ greywacke ], quartzite, and granite gneiss weakly mineralized with chalcopyrite and scattered pyrite."
• Hole S-17 cut from "295 ft to 495 ft: [ width of 200 ft or 61 m ] Shear zone. Talc-chlorite schist"; from "511 ft to 525 ft: Shear zone. Talc-chlorite schist. Disseminated pyrite and chalcopyrite in silicified schist and quartz." (GM09735A)
• Hole S-22: 167 ft to 347 ft [ width of 180 ft or 54.9 m ] - "Talc-chlorite schist, some scattered coarse pyrite, minor amounts of carbonate..."(GM09735B)
• Hole S-23: 9 ft to 236 ft [ width of 227 ft or 69.2 m ] - "Talc-chlorite schist, scattered coarse pyrite, small amounts of carbonate" (GM09735B)

The extent of the talc-chlorite schist zone is unclear. However, drilling indicates it is up to 50 m to 60 m wide and extends northeasterly for at least 1 km. It coincides with a known EM-VLF conductor that is 1.9 km long (conductor "C", GM26284). The talc-chlorite schist zone also borders a northeasterly trending magnetic high that extends for at least 3.3 km (Figure 5).

Porphyry carbonate zone

Assessment reports describe a "porphyry carbonate zone" exposed in old pits located 150 m northwest of the talc-chlorite schist zone that returned low gold values. This appears to be a northeast-trending, 1.8 m wide, dyke of "quartz porphyry" with highly sheared and dolomite altered wall rocks. The zone is described as follows:

• "Just to the north of the quartz-albite porphyry an old pit ,...,exposes on its walls a very pronounced shearing which is fairly well dolomitised. Gold assays are reported as having been obtained from this pit in early exploration. ... appears to warrant further exploration." (GM09724)
• "...a dyke of quartz porphyry about 6 ft [ 1.8 m ] wide striking N 50 E and dipping 600 NW with the wall rocks heavily carbonated ... Values up to $3.00 [ 2.94 g/t Au ] are said to have been secured here." (GM09721)

Figure 5: Schematic map of geology elements, as in Figure 2, over first vertical derivative map of the remnant magnetic field. Note well-defined northeast trending changes in magnetic field associated with mafic units and the talc-chlorite schist (Talc-chl schist). Also, note extensive potential lateral extension of the talc-chlorite schist to the northeast and southwest.

East-west zones

In report GM09724, a brief reference is made to zones of east-west shearing with some "gold values":

• "The strong east-west shearing with some gold values on the northwest claim justifies further exploration in order to determine its extent and nature." (GM09724)

An EM-VLF survey of the property (GM26284) describes two east-west conductive zones, conductor A and B, 600 m to 730 m long, of strong to moderate strength (GM26284). These conductors remain to be adequately tested.

Exploration

Historical Exploration Highlights

The Dufay property was originally explored for copper. Of the nearly 6000 m of drilling on the property, 80% was carried out from 1929 to 1945. Much of the drill core was only selectively assayed for copper over core intervals with quartz veins that typically display chalcopyrite +/- pyrite mineralization. The limited core intervals that were assayed for copper were not all assayed for gold, or just sparingly assayed for gold.

Of the 52 historic drill holes on the property, complete core log and assay information are only available for a limited number of drill holes. The following is the available information:

• complete drill core logs with assay results are available for 18 drill holes
• complete drill core logs with no assay results are available for 4 drill holes
• summary or incomplete core logs with no assay results are available for 21 drill holes
• core logs and assay results are unavailable for 9 drill holes

Vein 1 was the main focus of historical exploration. Other targets with "reported" mineralization of interest include Vein 2, the zone of "talc-chlorite schist", and the "porphyry carbonate zone" (Figure 2).

A review of historical assessment reports related to drilling campaigns and property visits, as well as from drill logs, shows much "reported" mineralization: some with "reported" gold or copper assay results. A summary of "reported" mineralization is presented in Table 1.

Table 1: Summary of reported mineralization on the Dufay property, in the general vicinity of Vein 1.

Gold and copper assay highlights from limited available drill core assay results and outcrop sampling are presented in Table 2.

Table 2: Gold and copper assay highlights from available historical drill core assay results and outcrop sampling on the Dufay property, in the general area surrounding Vein 1.


Best results are from Hole 17 that cut Vein 1 and assayed:

• 8.82 g/t Au over 3.1 m, with higher grade intervals of
  
  • Includes 20.91 g/t Au over 0.9 m and
  • Includes 10.29 g/t Au over 0.8 m.

Mineral Potential and Deposit Models

Mineral Potential

To date, the majority of historical exploration work on the Dufay property, including most of the drilling, was carried out over a very limited area, about 1.5 km², centered on Vein 1 and the immediate surrounding area (Figure 2). Much of the remaining 26 km² of the property remains virtually unexplored.

The explored portion of the Dufay property surrounding Vein 1 displays both quartz-sulphide vein-type and sulphide disseminated-type mineralization. Principal sulphides are chalcopyrite and pyrite.

Low grade to high grade, copper and gold values are reported over narrow widths: principally from quartz-sulphide veins associated with northeast-trending zones of quartz veining, brecciation, and shearing. The northeast-trending quartz veins (Veins 1, 2, 3 and 4) and the talc-chlorite schist are subparallel zones of brecciation and shearing spread out over a width of at least 250 m. This may represent an important yet unrecognized northeast fault system or major shear zone with potential for copper and gold mineralization that remains to be fully explored. Northeast-trending shear zones have been recognized elsewhere in the Pontiac subprovince (Benn et al., 1994).

Sulphide disseminated-type mineralization, mainly chalcopyrite and pyrite, is locally present in metasediments, in felsic intrusive units, and in shear zones. It is mainly reported in drill logs. The surface extent of this type of mineralization has not been delineated and remains unknown. Sulphide disseminated-type mineralization has not been adequately tested for its gold or copper potential.

Deposit Models

Although conceptual in nature, the Dufay property shows potential to host mineralization of the following deposit types:

1. Shear zone-related gold
2. Intrusion-related gold or "Porphyry gold (copper)"

Shear zone-related gold mineralization

Because of proximity, the Dufay property has the potential to host splays off the Larder Lake - Cadillac Fault (LLCF) (Figure 4). The historic Kerr-Addison mine, past production over 11 million ounces of gold, is located on the LLCF just 5 km west of the Dufay property (Figure 1). The northern portion of the property is located only 3 to 4 km south of the east-west segment of the LLCF, but as close as 1 km south of known east-west splays (Figure 4).

East-west zones of shearing with some "gold values" have been reported on the property (GM09724). At least two east-west conductive zones of strong to moderate strength are described on the property (GM26284). These east-west shear zones or conductors remain to be adequately tested for their gold potential.

Intrusion-related gold or "Porphyry gold (copper)" type mineralization

Both the quartz-sulphide vein-type and sulphide disseminated-type mineralization present on the Dufay property may represent Intrusion-related gold or "Porphyry gold (copper)" type mineralization. These deposit models have never been applied to the property.

Intrusion-related gold or "Porphyry gold (copper)" mineralization has been reported both in the Abitibi subprovince and in the Pontiac subprovince (Jébrak, 1992; Legault et al., 2009; Morasse et al., 1995; Mercier-Langevin et al., 2007; Robert, 2001). Possibly one of the more comprehensive descriptions of regional-scale gold mineralization associated with intrusions is that by Robert (2001) and Legault et al. (2009). They describe sulphide-disseminated type gold deposits associated with Timiskaming-age "syenitic intrusions":


Selected properties within the southern Abitibi subprovince and the northwest corner of the Pontiac subprovince (Figure 6) that display mineralization with Intrusion-related gold or "Porphyry gold (copper)" type characteristics include the following:

• Canadian Malartic Property: Osisko Mining Corp. 10.7 Million Oz Au
  NI 43-101 Proven and Probable Gold Reserves (Source: Osisko Mining Corp. website)
• Granada Gold Property
• Galloway Property

These properties are briefly described below:

Figure 6: Map showing location of the Dufay property relative to selected properties with known or potential Intrusion-related gold or "Porphyry gold (copper)" type mineralization.

Canadian Malartic Property: Osisko Mining Corp.



Galloway Property: Vantex Resources Ltd.



Granada Property: Gold Bullion Development Corp.

CONCLUSIONS

The majority of historical exploration work on the Dufay property, including most of the drilling, was carried out over a very limited area, about 1.5 km². Much of the remaining 26 km² of the property remains virtually unexplored.

The explored portion of the Dufay property surrounding Vein 1 displays both quartz-sulphide vein-type and sulphide disseminated-type mineralization. Principal sulphides are chalcopyrite and pyrite.

The quartz-sulphide veins, stringers, and stockwork, as well as the talc-chlorite schist are associated with northeast-trending zones of brecciation and shearing spread out over a width of at least 250 m. This may represent an important yet unrecognized extensive northeast fault system or major shear zone with potential for copper and gold mineralization that remains to be fully explored.

Low grade to high grade, copper and gold values are reported over narrow widths: principally from quartz-sulphide veins associated with northeast-trending zones of quartz veining, brecciation, and shearing.

Sulphide disseminated-type mineralization, mainly chalcopyrite and pyrite, is locally present in metasediments, in felsic intrusive units, and in shear zones. The surface extent of this type of mineralization has not been determined. This type of mineralization has not been adequately tested for its gold or copper potential.

Intrusion-related gold or "Porphyry gold (copper)" deposit exploration models remain to be tested on the Dufay property.

References

Beaulieu, C. 2010, Le Gisement Aurifére Peri-Granitique de Canadian Malartic (Perigranitic Gold Deposit of Canadian Malartic), M.Sc. Theses, UQAM.

Benn, K., Miles, W. Ghassemi, M.R., and Gillet, J., 1994, Crustal structure and kinematic framework of the northwestern Pontiac Subprovince, Quebec: an integrated structural and geophysical study; Canadian Journal of Earth Sciences 31, p.271-281.

Dubé, B., and Gosselin, P., 2007, Greenstone-hosted quartz-carbonate vein deposits, in Goodfellow, W.D., ed., Mineral Deposits of Canada: A Synthesis of Major Deposit-Types, District Metallogeny, the Evolution of Geological Provinces, and Exploration Methods: Geological Association of Canada, Mineral Deposits Division, Special Publication No. 5, p. 49-73.

Gossage, B. and Inwood, N., 2007, Technical Report for the Canadian Malartic Gold Project, Canada, Prepared by RSG Global Consulting on behalf of Osisko Exploration Ltd. January 22, 2007.

Jébrak, M., 1992, Les gisements d'or des tonalites archéennes (Abitibi, Quebec), Mineralium Deposita, Volume 27, Number 1, page 1-9.

Independent Technical Report, Dufay Property, Rouyn-Noranda, Quebec, Canada - Amended and Restated , with Original and Effective Date: April 12th, 2011 and Amended and Restated (Signing) Date: September 12th, 2011, prepared by Caracle Creek International Consulting Inc. (CCIC) and ACA Howe International Limited (ACA Howe) on behalf of Lakeside Minerals Corp.

Mercier-Langevin, P., Dubé, B., Lafrance, B., Hannington, M., Galley, A., Moorhead, J., and Gosselin, P., 2007, Metallogeny of the Doyon-Bousquet-La Ronde mining camp, Abitibi greenstone belt, Quebec, in Goodfellow, W.D., ed., Mineral Deposits of Canada: A Synthesis of Major Deposit-Types, District Metallogeny, the Evolution of Geological Provinces, and Exploration Methods: Geological Association of Canada, Mineral Deposits Division, Special Publication No.5, p.673-701.

Morasse, S., Wasteneys, H.A., Cormier, M., Helmstaedt, H. and Mason, R., 1995, A pre-2686 Ma intrusion-related gold deposit at the Kiena Mine, Val d'Or, Quebec, southern Abitibi Subprovince, Economic Geology; 1 August 1995; v. 90; no. 5; p. 1310-1321

Percival, J.A., 2007, Geology and metallogeny of the Superior Province, Canada, in Goodfellow,W.D., ed.,Mineral Deposits of Canada: A Synthesis of Major Deposit-Types, District Metallogeny, the Evolution of Geological Provinces, and Exploration Methods: Geological Association of Canada, Mineral Deposits Division, Special Publication No. 5, p. 903-928.

Robert, F. 2001, Syenite-associated disseminated gold deposits in the Abitibi greenstone belt, Canada. Mineralium Deposita, 36(6), 503-516.

SIGEOM: Reports

Legault, M., and Lalonde, A.E., 2009, RP-2009 : Discrimination des syénites associées aux gisements auriféres de la Sous-province de l'Abitibi, Quebec, Canada.

Legault, M., and Lalonde, A.E., 2009, RP-2009(A): Discrimination of Syenites Associated with Gold Deposits in the Abitibi Subprovince, Quebec, Canada.

SIGEOM: Assessment Reports

GM 03694 - DIAMOND DRILL RECORD. 1939, Par GLAZIER, M B, LOGAN, H J. 25 pages. 1 microfiche.
GM 09720 - INSPECTION REPORT C-33. 1929, Par TASCHEREAU, R H. 2 pages. 1 microfiche.
GM 09721 - GEOLOGICAL REPORT. 1939, Par LOGAN, H J. 4 pages. 1 microfiche.
GM 09722 - GEOLOGICAL REPORT. 1939, Par ROSS, S H. 3 pages. 1 carte. 1 microfiche.
GM 09723 - DIAMOND DRILL RECORD. 1941, Par ROSS, S H. 5 pages. 1 carte. 1 microfiche.
GM 09724 - GEOLOGICAL REPORT. 1945, Par BUTTERFIELD, H M. 6 pages. 1 microfiche.
GM 09725 - COPY OF A GEOLOGICAL REPORT. 1946, Par BUTTERFIELD, H M. 8 pages. 1 microfiche.
GM 09735-A - GEOLOGICAL REPORT. 1945, Par ROSS, S H. 3 pages. 1 carte. 1 microfiche.
GM 09735-B - LOGS OF DDH S-5 TO S-26. 1945, Par LOGAN, H J. 21 pages. 1 carte. 1 microfiche.
GM 26284 - ELECTROMAGNETIC SURVEY. 1970, Par PUDIFIN, A D. 8 pages. 2 cartes. 1 microfiche.
GM 26285 - DIAMOND DRILL CORE LOG. 1970, Par BOURGOIN, B. 10 pages. 1 microfiche.
GM 40088 - RAPPORT SUR UNE CAMPAGNE DE SONDAGES, CANTON DUFAY. 1983, Par LAVERDIERE, G. 31 pages. 4 cartes. 2 microfiches.

Websites

http://goldbulliondevelopmentcorp.com/
http://www.osisko.com/en/
http://www.vantexressources.com/

FORWARD-LOOKING STATEMENTS:

These remarks may contain forward-looking statements relating to the Company's operations or to its business environment. Such statements are based on the Company's operations, estimates, forecasts, and projections, but are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control. A number of factors could cause actual outcomes and results to differ materially from those expressed. These factors include those set forth in the corporate filings.

Although any such forward-looking statements are based upon what management believes to be reasonable assumptions, the Company cannot guarantee that actual results will be consistent with these forward-looking statements. In addition, the Company disclaims any intention or obligation to update or revise any forward-looking statements, for any reason. We also do not commit in any way to guarantee that we will continue reporting on items or issues that arise.

DISCLAIMER:

Investors are cautioned that this presentation contains quoted historical exploration results. These are derived from filed assessment reports and compiled from governmental databases. The Company and a QP have not independently verified and make no representations as to the accuracy of historical exploration results: these results should not be relied upon. Selected highlight results may not be indicative of average grades.

This presentation may contain information concerning mineral properties in proximity or adjacent to the Company's properties. Deposits, mineralization or historical results on such nearby or adjacent properties is not necessarily indicative of mineralization or similar grades on the Company's properties.