Vanadium 43-101 Resource

Argex Mining Inc. (V.RGX)

East Hervieux and West Hervieux (Cut-Off 40% Fe)
In Situ Grades
Resource Category In Situ (tonnes) Fe % Ti % V% Fe2O3%
Measured 8,017,000.00 44.27 11.26 0.25 63.29
Indicated 22,871,000.00 63.31
Inferred 13,013,000.00 44.11 11.19 0.24 63.06
(PR May 18, 2011)

Apella Resources Inc.

Iron T
In Situ (tonnes) Fe % Ti % V% Fe2O3%
Inferred 11,630,000.00 37.88
(PR July 12, 2010)

Prophecy
Titan (Cut-Off 40% Fe)
In Situ (tonnes) Fe % Ti % V% Fe2O3%
Inferred 49,000,000.00 48.09
(PR March 11, 2010)

American Vanadium
Vanadium Hill
In Situ Grades
Resource Category In Situ (tonnes) Fe % Ti % V% Fe2O3%
Indicated 18,010,000.00 44.27 11.26 0.25 -
Inferred 2,839,000.00 44.11 11.19 0.24 -
(PR May 18, 2011)

Energizer Vanadium
Green Giant Project
In Situ Grades
Resource Category In Situ (tonnes) Fe % Ti % V% Fe2O3%
Indicated 49,500,000.00 44.27 11.26 0.25 -
Inferred 9,700,000.00 44.11 11.19 0.24 -
(43-101 Report Jan 14, 2011)

Largo Resources
Maracas
In Situ Grades
Resource Category In Situ (tonnes) Fe % Ti % V% Fe2O3%
Proven 7,341,000.00 -
Probable 5,738,000.00 44.27 11.26 0.25 -
(PR Aug 12, 2008)

Speewah Metals
Buckman Deposit
In Situ Grades
Resource Category In Situ (tonnes) Fe % Ti % V% Fe2O3%
Measured 201,000,000.00 0.00
Indicated 826,000,000.00 0.00
Inferred 2,539,000,000.00 0.00
(PR May 2, 2011)
TiO2% V2O5%
18.80 0.45
18.78 0.46
18.67 0.43

TiO2% V2O5%
6.33 0.40

TiO2% V2O5%
14.82 0.43

TiO2% V2O5%
- 0.34
- 0.28

TiO2% V2O5%
- 0.69
- 0.63

TiO2% V2O5%
- 1.28
- 1.42

TiO2% V2O5%
0.00 0.33
0.00 0.30
0.00 0.30