EX-4.10



 EXHIBIT 4.10 
 Clarification of Certain Information in the AIF 
 The annual information
form of the Registrant for the fiscal year ended December 31, 2011, dated March 30, 2012 (the “AIF”), contains non-material tabulation errors with respect to certain contained ounces figures for platinum and gold. All grade and tonnage
figures represented in the AIF are correct. For the sake of clarity, the tables contained on pages 25 to 26 of the AIF have been reproduced below with the corrected numbers in bold. Corresponding changes have been made to the related notes. Defined
terms contained in “Notes on Mineral Reserve and Mineral Resource Tables” have the meanings ascribed to them in the AIF. 
 Lac des Iles – Mineral Reserve Estimates 
  

																																									
	 	  	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	Contained Ounces	 
	 Mineral Reserve
	  	Category	  	Tonnes
(000’s)	 	  	Pd
(g/t)	 	  	Pt
(g/t)	 	  	Au
(g/t)	 	  	Cu
(%)	 	  	Ni
(%)	 	  	Pd	 	  	Pt	 	  	Au	 
	 Lac des Iles
	  	Roby Zone	  	Proven	  	 	283	  	  	 	7.40	  	  	 	0.42	  	  	 	0.36	  	  	 	0.08	  	  	 	0.08	  	  	 	67,246	  	  	 	3,806	  	  	 	3,298	  
		  		  	Probable	  	 	637	  	  	 	5.10	  	  	 	0.39	  	  	 	0.33	  	  	 	0.09	  	  	 	0.08	  	  	 	104,424	  	  	 	8,064	  	  	 	6,809	  
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		  	Total	  	 	920	  	  	 	5.81	  	  	 	0.40	  	  	 	0.34	  	  	 	0.08	  	  	 	0.08	  	  	 	171,670	  	  	 	11,870	  	  	 	10,107	  
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

  

	*	Please refer to Notes on Mineral Reserve and Mineral Resource Tables. 

 Lac des Iles — Mineral Resource Estimates 
  

																																									
	 	  	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	Contained Ounces	 
	 Mineral Resource
	  	Category	  	Tonnes
(000’s)	 	  	Pd
(g/t)	 	  	Pt
(g/t)	 	  	Au
(g/t)	 	  	Cu
(%)	 	  	Ni
(%)	 	  	Pd	 	  	Pt	 	 	Au	 
	 Lac des Iles
	  	Open Pit	  	Measured	  	 	3,722	  	  	 	1.99	  	  	 	0.23	  	  	 	0.17	  	  	 	0.08	  	  	 	0.07	  	  	 	238,134	  	  	 	27,523	  	 	 	20,343	  
		  		  	Indicated	  	 	2,565	  	  	 	2.20	  	  	 	0.24	  	  	 	0.18	  	  	 	0.08	  	  	 	0.07	  	  	 	181,427	  	  	 	19,792	  	 	 	14,844	  
		  	Roby Zone	  	Indicated	  	 	3,144	  	  	 	7.62	  	  	 	0.44	  	  	 	0.33	  	  	 	0.06	  	  	 	0.08	  	  	 	770,246	  	  	 	44,476	  	 	 	33,357	  
		  	Offset Zone	  	Measured	  	 	2,500	  	  	 	5.62	  	  	 	0.36	  	  	 	0.33	  	  	 	0.09	  	  	 	0.12	  	  	 	451,719	  	  	 	28,936	  	 	 	26,524	  
		  		  	Indicated	  	 	11,955	  	  	 	5.24	  	  	 	0.36	  	  	 	0.32	  	  	 	0.10	  	  	 	0.12	  	  	 	2,014,063	  	  	 	138,371	  	 	 	122,996	  
		  		  	Inferred	  	 	3,071	  	  	 	4.80	  	  	 	0.34	  	  	 	0.22	  	  	 	0.07	  	  	 	0.08	  	  	 	473,929	  	  	 	33,570	  	 	 	21,722	  
		  	Stockpile	  	Measured	  	 	508	  	  	 	2.21	  	  	 	0.20	  	  	 	0.18	  	  	 	0.05	  	  	 	0.07	  	  	 	36,095	  	  	 	3,267	  	 	 	2,940	  
		  		  	Indicated	  	 	13,365	  	  	 	0.97	  	  	 	0.12	  	  	 	0.08	  	  	 	0.03	  	  	 	0.06	  	  	 	416,805	  	  	 	51,563	  	 	 	34,376	  
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 
		  	Total	  	Measured	  	 	6,730	  	  	 	3.36	  	  	 	0.28	  	  	 	0.23	  	  	 	0.08	  	  	 	0.09	  	  	 	725,948	  	  	 	59,726	(1) 	 	 	49,807	(4) 
		  		  	Indicated	  	 	31,029	  	  	 	3.39	  	  	 	0.25	  	  	 	0.21	  	  	 	0.06	  	  	 	0.09	  	  	 	3,382,541	  	  	 	254,202	(2) 	 	 	205,573	(5) 
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 
		  		  	M&I	  	 	37,759	  	  	 	3.38	  	  	 	0.26	  	  	 	0.21	  	  	 	0.07	  	  	 	0.09	  	  	 	4,108,489	  	  	 	313,928	(3) 	 	 	255,380	(6) 
		  		  	Inferred	  	 	3,071	  	  	 	4.80	  	  	 	0.34	  	  	 	0.22	  	  	 	0.08	  	  	 	0.07	  	  	 	473,929	  	  	 	33,570	  	 	 	21,722	  
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 

  

	*	Please refer to Notes on Mineral Reserve and Mineral Resource Tables. 


	(1)	Reported as 30,790 oz in the AIF. 


	(2)	Reported as 149,402 oz in the AIF. 


	(3)	Reported as 180,191 oz in the AIF. 


	(4)	Reported as 23,283 oz in the AIF. 


	(5)	Reported as 104,299 oz in the AIF. 


	(6)	Reported as 127,582 oz in the AIF. 

 Gold Properties — Mineral Resource Estimates 
  

																	
	 	  	 	  	 	 	  	 	 	  	Contained Ounces	 
	 Mineral Resource
	  	Category	  	Tonnes
(000’s)	 	  	Au(g/t)	 	  	Au	 
	 Vezza
	  		  	Measured	  	 	325	  	  	 	6.1	  	  	 	64,100	  
		  		  	Indicated	  	 	1,605	  	  	 	5.6	  	  	 	290,000	  
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		  	M&I	  	 	1,930	  	  	 	5.7	  	  	 	354,100	  
		  		  	Inferred	  	 	479	  	  	 	4.8	  	  	 	74,300	  
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Sleeping Giant
	  		  	Measured	  	 	52	  	  	 	7.2	  	  	 	12,004	  
		  		  	Indicated	  	 	744	  	  	 	6.9	  	  	 	165,527	  
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		  	M&I	  	 	796	  	  	 	6.9	  	  	 	177,531	  
		  		  	Inferred	  	 	146	  	  	 	8.2	  	  	 	38,680	  
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Flordin
	  		  	Measured	  	 	116	  	  	 	3.2	  	  	 	12,133	  
		  		  	Indicated	  	 	2,707	  	  	 	1.8	  	  	 	153,998	  
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		  	M&I	  	 	2,823	  	  	 	1.8	  	  	 	166,131	(1) 
		  		  	Inferred	  	 	2,199	  	  	 	1.9	  	  	 	137,561	  
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Discovery
	  		  	Measured	  	 	3	  	  	 	9.0	  	  	 	895	  
		  		  	Indicated	  	 	1,279	  	  	 	5.7	  	  	 	236,180	  
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		  	M&I	  	 	1,282	  	  	 	5.7	  	  	 	237,075	  
		  		  	Inferred	  	 	1,546	  	  	 	5.9	  	  	 	294,473	  
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  	Total	  	Measured	  	 	496	  	  	 	5.6	  	  	 	89,132	  
		  		  	Indicated	  	 	6,335	  	  	 	4.2	  	  	 	845,705	  
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		  	M&I	  	 	6,831	  	  	 	4.3	  	  	 	934,837	  
		  		  	Inferred	  	 	4,370	  	  	 	3.9	  	  	 	545,014	  
		  		  		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

  

	*	Please refer to Notes on Mineral Reserve and Mineral Resource Tables. 


	(1)	Reported as 166,000 oz in the AIF. 








 Notes on Mineral Reserve and Mineral Resource Tables: 

The classification system used herein conforms with National Instrument 43-101 Standards of Disclosure for Mineral Projects
(“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum classification system. U.S. investors should refer to page 2 of the AIF for an overview on how Canadian standards differ significantly from
U.S. requirements. Pd, Pt and Au ounces are stated as contained ounces. Disclosure of contained ounces is permitted under Canadian regulations; however, the SEC generally permits resources to be reported only as in place tonnage and grade.

 Lac des Iles 

Mineral Reserves and Mineral Resources for the Roby Zone, Open Pit and Stockpiles were estimated as of June 30, 2010 by RPA and
updated as of December 31, 2011 by David Penna, P. Geo., an employee of the Company and a qualified person under NI 43-101, to: (i) reflect additions to mineral reserves in the Roby Zone as a result of higher palladium prices;
(ii) depletion from production up to May 31, 2011, and (iii) the addition of mineral reserves from the crown pillar (supported by an internal engineering report). The following cut-off grades were used: (i) 5.8 g/t PdEq for the
Roby Zone; (ii) 1.8 g/t PdEq for the Open Pit, within an optimized pit shell run below the current pit survey; and 1.9 g/t PdEq for the Stockpiles. These cut-off grades were determined under the assumption that production would take place
at a rate of 14,000 tpd. Metal price assumptions of US$350/oz palladium, US$1,400/oz platinum, US$850/oz gold, US$6.50/lb nickel, and US$2.00/lb copper were used in the estimation of cut-off grade. A US$/Cdn$ exchange rate of 1.11 was also
applied. The Mineral Reserves and Mineral Resources estimate reflects a depletion of 807 kt at an average grade of 5.43 g/t Pd due to mining and an addition of 232 kt at an average grade of 6.23 g/t Pd in additional material from
the open pit crown pillar. 
 Mineral Resources for the Offset Zone were estimated as of May 31, 2011 by P&E. The
mineral resource calculation uses a minimum 3.5 g/t Pd resource block cut-off versus a 4.0 g/t cut-off in the LDI Report, which largely reflects a higher long term price outlook for palladium. Confidence levels in the Mineral Resource
estimate increased as a result of over 75,000 metres of infill drilling performed between June 30, 2010 and May 31, 2011. Assays were capped at various levels depending on metal grade distributions. Resources were estimated to the
4070 Mine Level (–930 m elevation), a maximum depth of 1,430 m. The following metal price assumptions were used: US$475/oz palladium, US$1,500/oz platinum, US$1,100/oz gold, US$9.00/lb nickel, and US$3.00/lb copper. By contrast,
the June 30, 2010 Mineral Resources estimate for the Offset Zone in the LDI Report assumed the following long term metal prices: US$400/oz palladium. US$1,400/oz platinum, US$1,000/oz gold, US$8.50/lb nickel, and US$3.00/lb copper. A US$/Cdn$
exchange rate of US$0.95 = Cdn$1.00 was also applied. 

  
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 Vezza 
 Mineral Resources for the Vezza project were estimated as of December 31, 2011 by Valère Larouche, Eng., an employee of the Company and a qualified person under NI 43-101, and audited by
RPA. Mineral Resources were estimated at a cut-off grade of 3 g/t Au using an average gold price of US$1,200 per ounce and a US$/Cdn$ exchange rate of US$1: Cdn$1.10. 
 Sleeping Giant 
 Mineral Resources for the Sleeping Giant mine were
estimated as of December 31, 2011 by mine staff under the supervision of Tyson Birkett, Eng., an employee of the Company, and a qualified person under NI 43-101. Mineral Reserves for the Sleeping Giant mine have been reclassified to
Resources due to the suspension of operations at the mine. A long term gold price of US$1,100 per ounce was assumed. Grade capping was carried out on a vein-by-vein basis using the historical values of 60 g/t for drill hole intersections and
55 g/t for opening sampling. Resources were evaluated from drill hole results and opening sampling results using the polygonal method on inclined longitudinal sections. The maximum distance was fixed at 25 metres for inferred and indicated
resources. A specific gravity of 2.85 t/m3 was used. For resources using the Shrinkage method, the intersections are internally diluted (at zero grade) to minimum true thickness of 1.6 metres and an external dilution of 15%
(at zero grade) with a mining recovery of 95% are applied. For resources using the Long Hole method, the intersections are internally diluted (at zero grade) to minimum true thickness of 1.8 metres and an external dilution of 25%
(at zero grade) with a mining recovery of 95% are applied. For resources using the Room and Pillar method, the intersections are internally diluted (at zero grade) to minimum true thickness of 1.8 metres and an external dilution of
15% (at zero grade) with a mining recovery of 85% are applied. For measured resources, the diluted grade and thickness from the opening sampling results are used for a maximum distance of 8 metres away from the opening. 

Flordin 
 Mineral
Resources for the Flordin property were estimated as of August 24, 2011 by InnovExplo. Mineral Resources were compiled using a cut-off grade between 0.5 g/t Au for the open-pit model and a cut-off grade of 3.5 g/t Au for the
underground model. 
 Discovery 
 Mineral Resources for the Discovery project were estimated as of August 1, 2008 by InnovExplo. A long term gold price of Cdn$850 per ounce was assumed. Mineral Resources for the Discovery project
were estimated using various cut-off grades, depending on the mining method applied. 

  
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