Micon International Limited’s independent report entitled "An Updated Mineral Resource Estimate for the Curraghinalt Gold Deposit, Tyrone Project, County Tyrone and County Londonderry, Northern Ireland" is effective as of November 30, 2011, and prepared by B. Terrence Hennessey, P. Geo., and Dibya Kanti Mukhopadhyay, M.Cs., MAusIMM. This report updated a previous report dated May 10, 2010.

The 2011 independent technical report includes an updated mineral resource estimate, and a recommendation on Dalradian’s proposed exploration program. The scope of work included a review of the geology, mineralization model and exploration programs for the Curraghinalt Deposit. Drill hole data compilation and quality assurance/quality control protocol, which form the foundation of the mineral resource estimate, were also reviewed in detail.