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July 2010

43-101 Ressources update on Crevier property

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March 2010

43-101 Preliminary Economic Assessment of the Crevier Niobium Project

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April 2009

NI 43-101  Technical Report Niobium and Tantalum resource estimation of the Crevier deposit

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Project Summary: Crevier

Owner

MDN Inc.  72.5 %,  IAMGOLD  27.5 %

Location

Located in Crevier Township 50 kilometers north of Girardville, in the Lac Saint-Jean region, Québec.

Area

The property covers 83 contiguous concessions covering a total of 4,645 hectares

Background

Soquem discovered the deposit in 1975 and after completing a number of exploration phases, transferred the property to Cambior in 1986 when SOQUEM’s assets were privatized. IAMGOLD  acquired the property in 2006 and Les Minéraux Crevier Inc. became sole owner in April 2008

Geology and Mineralization

The property comprises a nepheline syenite dyke exhibiting pegmatitic texture that stretches more than three kilometers. It hosts a niobium and tantalum mineralization estimated at 25.8 million metric tons of mineralization.

43-101 Compliant mineral resource

Updated Mineral Resource (43-101) - June 2010
Category Million
Tonnes
Nb2O5
%
Ta2O5
(ppm)
Measured 12,465 0,199 234
Indicated 12,904 0,194 234
Total Measured +Indicated 25,369 0,196 234
Inferred 15,423 0,17 252
Mineral resource within the geological deposit, 0.1% Nb2O5 cutoff grade
Niobium: High grades cut to 0.5% Nb2O5
Tantalum: High grades cut to 550 ppm Ta2O5

Preliminary Economic Study

A preliminary economic assessment conducted in 2009 by an independent engineering firm confirmed the economic viability of the project. At a production rate of 4,000 metric tons per day, the project could generate an average annual income of $125 million. Based on an approximate investment of $316 million, gross annual profits are estimated at $57 million, for a net present value before taxes of $272 million at 5%.

The viability of mineral resources that are not reserves, has not been demonstrated.

Feasibility Study

MDN continues to develop the project by investing in a feasibility study, which is plan be completed in the first half of 2013.

The technical and scientific information contained in this document has been reviewed by Serge Bureau, President & CEO of MDN inc., who is a qualified person under National Instrument 43-101.