Pan American Silver Corp.
Bell Creek Mine
The Bell Creek Mine is an underground mine located approximately 20 kilometres northeast of Timmins Ontario, close to Goldcorp Inc.’s (“Goldcorp’s”) Hoyle Pond Mine. The mine is a former producer that was operated by a number of owners from 1987 to 1994, producing a total of 113,000 ounces of gold (576,000 tons at an average grade of 5.6 grams per tonne). Lake Shore Gold acquired the Bell Creek Mine, and the Bell Creek Mill, in December 2007 from the Porcupine Joint Venture, a joint venture between Goldcorp and Kinross Gold Corporation.
In May 2009, the Company commenced an advanced exploration program mainly focused on de-watering and rehabilitating the existing 290 metre deep Bell Creek shaft and workings and collaring a surface ramp at Bell Creek to connect to the underground mine workings. An initial resource was released for Bell Creek Mine by the Company in December 2010 and was subsequently updated in March 2012 and March 2013. Commercial production commenced at the Mine effective January 1, 2012. During the year ended December 31, 2012, a total of 21,605 ounces of gold was processed (182,350 tonnes at an average grade of 3.9 grams per tonne). Production in 2012 was primarily in the North A Deep, East and Main zones to the 595 Level. Cash operating costs per tonne were $116 in 2012.
During the first half of 2013, production totaled 11,100 ounces (89,200 tonnes at an average grade of 4.1 grams per tonne). For the full year, production at Bell Creek is expected to be similar to the level in 2012 and is expected to represent 15 – 20% of the Company’s total production of 120,000 to 135,000 ounces of gold.
Current resources, inclusive of reserves, total 4,685,000 tonnes at an average grade of 4.7 grams per tonne in the indicated category and 6,080,000 tonnes at an average grade of 4.6 grams per tonne for 904,000 ounces in the inferred category. An initial probable reserve was released in March 2013 and included 960,000 tonnes at an average grade of 4.2 grams per tonne for 129,000 ounces (resources are inclusive of reserves).
Ounces produced at Bell Creek Mine are subject to a 2% Net smelter returns (“NSR”) royalty payable to Goldcorp. Under an agreement with Goldcorp, the Company does not pay the first $6 million of royalty expenses. In 2012, $0.7 million of royalty expenses were incurred.
Quarterly Production
(1) Grams per tonne
Reserves
(1) Grams per tonne
Resources(1)
(2) Grams per tonne
Quarterly Production
(1) Grams per tonne
Reserves
(1) Grams per tonne
Resources(1)
(1) Key information related to resource calculations includes:
• Definitions were followed for classification of Mineral Resources.
• Mineral Resources are estimated at a cut‐off grade of 2.2 g/t Au.
• Mineral Resources are estimated using an average long‐term gold price of US$1,200 per ounce and a US$/CDN$ exchange rate of 0.93.
• A minimum mining width of two metres was used.
• Capped gold grades are used in estimating the Mineral Resource average grade.
• Sums may not add due to rounding.
• Mr. Ralph Koch, B.Sc. P. Geo., is the Qualified Persons for this resource estimate.
(2) Grams per tonne
Technical Reports
January 2011 Technical Report 
- “Technical Report on the Initial Mineral Resource Estimate for the Bell Creek Mine, Hoyle Township, Timmins, Ontario, Canada”
- “Technical Report on the Initial Mineral Resource Estimate for the Bell Creek Mine, Hoyle Township, Timmins, Ontario, Canada”
March 2013 Technical Report 
- “NI 43‐101 Technical Report, Resource Estimate Update and Prefeasibility Study and Mineral Reserve Estimate For Bell Creek Mine Hoyle Township Timmins, Ontario, Canada”
- “NI 43‐101 Technical Report, Resource Estimate Update and Prefeasibility Study and Mineral Reserve Estimate For Bell Creek Mine Hoyle Township Timmins, Ontario, Canada”
Exploration Potential
Lake Shore Gold believes that there is significant potential to expand the mineralization at Bell Creek Mine. The current deposit at Bell Creek extends to a depth of over 1,700 metres and is open to depth. Also, with only limited drilling outside the existing resource, the Company believes the potential to identify new zones on the Bell Creek Mine property is excellent. In addition, the deposits identified to date at the adjacent Marlhill and Schumacher/Vogel properties are in close proximity to the Bell Creek Mine workings, and the opportunity to add resources at these properties is also considered excellent.
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Senior Cost Accountant
In this role, you will work with the operations team to consolidate the annual budget, accounting process and preparing short term forecasts.
IT System Administrator
The role of the IT System Administrator will be responsible for assisting staff with technical support of desktop computers, applications, networks, and related technologies.
Chief Mine Engineer
In this position, you will be responsible for supervising all mine engineering staff and managing all mine functions at the Timmins West Mine to maximize the operation’s performance in a safe manner.
Geotechnical Engineer
The role of the Geotechnical Engineer will be to work closely with the engineering and operational teams on site to provide and implement sound engineering and rock mechanics principles that will ensure stability of stopes and excavations with minimal dilution and ground failure.