GoldMinerPulse.com -- Normabec Mining Resources Ltd.: (NI) 43-101 Metal Valuation Report

Normabec Mining Resources Ltd. (NMB)

Company Web Site: www.normabec.com
This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2009-09-14. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-03-11.
External Links: Yahoo News and Quotes  |  Yahoo Message Board  |  StockCharts  |  Stockhouse  |  Canadian Insider Trading
GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-03-11
Project/Deposit CC MVpSh PP% MI% I% Silver Lead Zinc
    Real De Catorce MX $10.84 0 71% 29% 45.92 M oz     12.27 K t     11.13 K t

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Mar-11
Metric / Metal Silver Lead Zinc
    Metal Totals 45.92 M oz     12.27 K t     11.13 K t
    Metal Prices in US$ (from 2010-03-11) $17.15 per oz     $1.01820 per lb     $1.05510 per lb
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below) $10.15     $0.36     $0.33
    Percentage of Total Metal Value 93.64%     3.28%     3.08%
    PP% | MI% | I% 0 | 71% | 29%     0 | 68% | 32%     0 | 71% | 29%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Mar-11
    Metal Value per Share (MVpSh)    US$10.84
    Average Ore Value per Tonne    US$
    Metal Value Leverage (MVL)    -no stock price-
    Recent Stock Price    C$   (TSX/TSXV close on 2010-03-11.)
Conversion rate used: 1 Cnd$ = 0.976275 US$ )
    Fully Diluted Share Count    77.60 M    ( Fully diluted share count is from Normabec Mining Resources Ltd, Fact Sheet web page viewed September 2009. )
    PP% | MI% | I%    0 | 71% | 29%
Silver Metrics-- all Projects/Deposits
    Average Silver Ore Grade     g/t
    Market Capitalization
    per oz of Silver In Ground    $0.00   US$  |   0.00   C$
    Silver Eq Oz Estimate    49.03 M oz   ( 45.92 M oz are in ground)
    Market Capitalization
    per oz of Silver Equilavent    $0.00   US$  |   0.00   C$

See terms for more about GoldMinerPulse metrics.
Additional Notes:
First Majestic to Acquire Normabec Mining Resources, September 14, 2009
Quote from the press release:
The Agreement, among other things provides that First Majestic will acquire Normabec in exchange for the issuance directly to Normabec's shareholders of 0.060425 First Majestic shares for each Normabec common share outstanding (the "Exchange Ratio"). In addition to Normabec's current shareholders receiving shares in First Majestic, they will also receive shares in a newly formed public company ("NEWCO") which will hold Normabec's interest in the Pitt Gold Property (and all other Quebec mineral interests currently held by Normabec) which will continue to be managed by the existing Normabec management. Subsequent to the completion of the Arrangement, First Majestic will invest, via a private placement, C$300,000 in this public company which will represent approximately 10% of NEWCO.
GoldMinerPulse Coverage Status:
GoldMinerPulse coverage of Normabec Mining Resources Ltd. has started but is not complete.

Project/Deposit	CC	MVpSh	PP%	MI%	I%	Silver	Lead	Zinc
Real De Catorce	MX	$10.84	0	71%	29%	45.92 M oz	12.27 K t	11.13 K t

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Mar-11
Metric / Metal	Silver	Lead	Zinc
Metal Totals	45.92 M oz	12.27 K t	11.13 K t
Metal Prices in US$ (from 2010-03-11)	$17.15 per oz	$1.01820 per lb	$1.05510 per lb
Metal Value per Share (MVpSh) (Shown in US$ and based on fully diluted share count shown below)	$10.15	$0.36	$0.33
Percentage of Total Metal Value	93.64%	3.28%	3.08%
PP% \| MI% \| I%	0 \| 71% \| 29%	0 \| 68% \| 32%	0 \| 71% \| 29%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Mar-11
Metal Value per Share (MVpSh)	US$10.84
Average Ore Value per Tonne	US$
Metal Value Leverage (MVL)	-no stock price-
Recent Stock Price	C$ (TSX/TSXV close on 2010-03-11.) Conversion rate used: 1 Cnd$ = 0.976275 US$ )
Fully Diluted Share Count	77.60 M ( Fully diluted share count is from Normabec Mining Resources Ltd, Fact Sheet web page viewed September 2009. )
PP% \| MI% \| I%	0 \| 71% \| 29%
Silver Metrics-- all Projects/Deposits
Average Silver Ore Grade	g/t
Market Capitalization per oz of Silver In Ground	$0.00 US$ \| 0.00 C$
Silver Eq Oz Estimate	49.03 M oz ( 45.92 M oz are in ground)
Market Capitalization per oz of Silver Equilavent	$0.00 US$ \| 0.00 C$

See terms for more about GoldMinerPulse metrics.

Real De Catorce - ^top^

(NI) 43-101 Report:

Title: UPDATED NI 43-101 TECHNICAL REPORT AND MINERAL RESOURCE ESTIMATE FOR THE REAL DE CATORCE PROPERTY SAN LUÍS POTOSÍ STATE, MEXICO
Date: 2008-07-25 (132 pages)

Updates: Norbmabec Corporate Presentation, February 2009

Project Location: San Luis Potosi, Mexico

Map View: View project on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Measured + Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Silver $6.35    28.72 M oz     248.000 g/t     3.60 M t
   Lead $0.24    8.28 K t       2,300.000 g/t     3.60 M t
   Zinc $0.24    7.92 K t       2,200.000 g/t     3.60 M t
Estimate notes: See Table 1.2 Mineral Resource Estimate for the Real de Catorce Property, Excluding Tailings Piles on p. 11 of 132 in the NI 43-101 report dated July 2008.
cut-off grade of 100 g/t

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Silver	$6.35	28.72 M oz	248.000 g/t	3.60 M t
Lead	$0.24	8.28 K t	2,300.000 g/t	3.60 M t
Zinc	$0.24	7.92 K t	2,200.000 g/t	3.60 M t
Estimate notes: See Table 1.2 Mineral Resource Estimate for the Real de Catorce Property, Excluding Tailings Piles on p. 11 of 132 in the NI 43-101 report dated July 2008. cut-off grade of 100 g/t

•Measured

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Silver $0.90 4.08 M oz 90.330 g/t 1.40 M t
Estimate notes: See Measured in Tailings, slide 13 of 41 in Norbmabec Corporate Presentation, February 2009 and also see p. 10 of 83 in the NI 43-101 report dated July 30, 2007.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Silver	$0.90	4.08 M oz	90.330 g/t	1.40 M t
Estimate notes: See Measured in Tailings, slide 13 of 41 in Norbmabec Corporate Presentation, February 2009 and also see p. 10 of 83 in the NI 43-101 report dated July 30, 2007.

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Silver $2.90    13.12 M oz     220.000 g/t     1.85 M t
   Lead $0.12    3.99 K t       2,150.000 g/t     1.85 M t
   Zinc $0.10    3.21 K t       1,730.000 g/t     1.85 M t
Estimate notes: See Infered [sic], slide 13 of 41 in Norbmabec Corporate Presentation, February 2009.
100 g/t cut-off grade

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Silver	$2.90	13.12 M oz	220.000 g/t	1.85 M t
Lead	$0.12	3.99 K t	2,150.000 g/t	1.85 M t
Zinc	$0.10	3.21 K t	1,730.000 g/t	1.85 M t
Estimate notes: See Infered [sic], slide 13 of 41 in Norbmabec Corporate Presentation, February 2009. 100 g/t cut-off grade


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