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Resource

Kimberlite

Dry Tonnes

Grade

Carats

Price

Percentage Carats

Category

Lithology

(x1,000)

(cpht)

(x1,000)

(US$/carat)

Star/Star West

Indicated

Cantuar

10,521

13.4

1,410

420

42/58

Indicated

Pense

6,273

13.6

853

126

100/0

Indicated

EJF

90,240

14.9

13,446

216

69/31

Indicated

MJF

15,653

6.0

939

152

1/99

Indicated

LJF

0

3.5

0

152

0

Indicated

Total

122,687

13.6

16,648

225

63/37

Inferred

Cantuar

2,777

13.3

369

420

35/65

Inferred

Pense

2,769

14.6

404

126

100/0

Inferred

EJF

24,640

12.9

3,179

216

65/35

Inferred

MJF

88

4.9

4

152

0/100

Inferred

LJF

0

2.8

0

152

0

Inferred

Total

30,274

13.1

3,956

226

61/39

Table 5.3: June 9, 2008 Mineral Resource Statement for the Star Kimberlite including the Star Diamond Project (100% Shore) and Star West (60% Shore, 40% Newmont). Reported Lithologies: Cantuar, Pense, Early Joli Fou (EJF), Mid Joli Fou (MJF) and Late Joli Fou

(LJF).

CIM standards and securities commission disclosure regulations require that a resource can only be declared on a mineral deposit which has “reasonable prospects of economic extraction”. The reported mineral resources for the Star Diamond Project were constrained using a Lerchs- Grossmann (“LG”) economic pit shell, generated using the Whittle software package. The economic assumptions used were as follows:

  • 1.

    Diamond Prices: The March, 2008 re-priced modelled diamond prices as shown in Table 5.1 were used.

  • 2.

    Grade: Factors were calculated for the LDD results to reconcile them with the higher diamond grades reported from the underground bulk sampling. AMEC applied two levels of risk adjustment to lower the factors with increasing distance from the central part of the Star Kimberlite.

  • 3.

    Metallurgical Recovery: 100 percent.

  • 4.

    Process and Overhead Costs: $5.08 per tonne processed.

  • 5.

    Mining Cost: $0.99 per tonne mined for overburden; and

$1.34 per tonne mined for kimberlite and country rock.

  • 6.

    Pit slopes: Pit slopes used were 18 degrees in the overburden and 30 degrees in the kimberlite and country rock. The waste to ore strip ratio is 5.87 on a partial block (undiluted) mineralization basis.

  • 7.

    Marginal Break-even Cut-off: The marginal cut-off grades applied in the Resource Estimate were Cantuar 1.21 cpht, Pense 4.03 cpht, EJF 2.35 cpht and MJF and LJF 3.34 cpht.

The Mineral Resource reported in Table 5.3 comprised the kimberlite that was constrained within the Whittle pit and exceeded the economic cut-off as determined by the parameters above.

P&E Mining Consultants Inc. NI 43-101 Technical Report No 159 Shore Gold Inc. - Star Diamond Project Resource Estimate Update

Page 24 of 109

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