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Other Projects

Kiekerömaa and Kaaresselkä Gold Projects

Kiekerömaa Project

Located in the Lappland Greenstone Belt in Northern Finland, the 840 ha Kiekerömaa project hosts gold mineralization over a strike length of 300 m.  The prospect was discovered by the state mining company Outukumpu Oy in the late 1990s while exploring for base metals.  Tertiary acquired the prospect in 2003 by staking and completed a small drill program in 2011.  Historic drill intercepts from limited drilling by Otukumpu and Tertiary include 5.8 g/t Au over 5.0 m, 7.4 g/t Au over 2.0 m and 3.6 g/t Au over 4.6 m.  The mineralization remains open in all directions.

Kaaresselkä Project

Located approximately 20 Km to the east of Kiekerömaa Project, the 315 ha Kaaresselkä project comprises multiple shear zone hosted gold zones that are up to 16 m wide and 650 m long, adjacent to the Sirkka Shear Zone, a major regional deformation zone, that is host to more than 45 gold prospects. Multiple high grade drill intercepts including 11.0 g/t Au over 4.9 m, 13.5 g/t Au over 2.75 m, and 45.0 g/t Au over 2.0 m have been reported. Mineralization there was initially discovered by the geological survey of Finland (GTK) who subsequently did extensive geochemical and geophysical surveying, trenching and diamond drilling. Tertiary acquired the project by staking in 2003 and subsequently completed limited geochemical and geophysical surveys followed by drilling.  No exploration has been conducted since 2004.  All mineralized zones remain open along strike and down dip.

Sale of the Projects and Retained Royalty Interest

In December 2016, the Company announced the sale of the Kaaresselkä and Kiekerömaa projects to TSX-V listed Aurion Resources Ltd, Aurion is a Canadian listed (TSX-V: AU) precious metals exploration company primarily focusing on the development of its Finnish gold projects, several of which are under a joint venture with B2Gold, a main listed (TSX:BTO,NYSE MKT:BTG) gold producer and developer, The completion of the sale was announced in March 2017.

Highlights of the Sale:

Aurion has recently announced the discovery of a new bonanza gold zone, called Aurora at its 100% owned Risti project. The Kaaresselkä project is located in the same regional deformation zone to the south of Risti

133 rock grab samples collected from predominantly large and angular sub-cropping quartz-tourmaline blocks assayed from nil to 1563.5 g/t Au, including 36 samples which assayed greater than 31 g/t Au (1 ounce per tonne). The average grade of all 133 samples is 74.3 g/t Au.

Further information can be viewed at:

In September this year Kinross Gold Corporation completed a private placement with Aurion resulting in Kinross owning 9.98% of the issued and outstanding share capital of Aurion.

These developments have resulted in an increase in the value of the Aurion Shares held by Tertiary. The Company has therefore capitalised on this increase and the shares were sold in November 2017, resulting in a profit of £31,264 on the sale.