Borden Lake South is comprised of 20 mining claims representing 294 claim units covering approximately 4,704 hectares, located 10 kilometres east of the Town of Chapleau, Ontario.

Goldcorp is the successor to Probe Mines Limited ("Probe"), which entered into a Joint Venture Agreement with Reliant dated March 12th, 2014 (the "2014 JV Agreement"), whereby a joint venture (the "Borden Lake South JV") was created between the parties with respect to Borden Lake South.

Under the terms of the 2014 JV Agreement, Goldcorp is the Operator of the Borden Lake South JV and holds a fifty-one percent (51%) interest in the Borden Lake South JV, with Reliant currently holding the remaining forty-nine percent (49%) interest.

Additional details of the 2014 JV Agreement are fully described in Reliant’s press release dated April 1, 2014.

The Contemplated Transaction proposes a purchase by Goldcorp of Reliant’s 49% interest in the Borden Lake South JV and Borden Lake South on the following terms:

At the Closing of the Contemplated Transaction, Goldcorp will pay Reliant $250,000 in cash; and

At the Closing of the Contemplated Transaction, Goldcorp will grant Reliant a one-percent (1%) royalty on the net smelter returns from the future production and sale of minerals from Borden Lake South (the "NSR"), with Goldcorp having the right, at any time, to purchase fifty percent (50%) of the NSR from Reliant by making a cash payment of $500,000 (plus any applicable taxes) to Reliant, and a right of first refusal in favour of Goldcorp with respect to any future transfers of the NSR by Reliant.

The Contemplated Transaction is being entered into by the parties as a variation to the 2014 JV Agreement, which itself, was the result of a variation of an existing relationship between Probe and Reliant with respect to Borden Lake South under an option agreement made effective as of the 12th day of March, 2012, pursuant to which Probe had an option to acquire up to a 70% interest in Borden Lake South.

The completion of the Contemplated Transaction is subject to execution and delivery by the parties of a final and definitive agreement of purchase and sale (the "Definitive Agreement") by no later than July 2, 2016, and receipt of all necessary board and regulatory approvals.