FOR IMMEDIATE RELEASE GOODMAN FAMILY INVESTS IN $20M ENDOWMENT FUND FOR LAURENTIAN UNIVERSITYS SCHOOL OF MINES

SUDBURY, ON (OCTOBER 15, 2012) Ned Goodman, CEO of Dundee Corporation, and The Goodman Family Foundation - JODAMADA, announced today a historic gift to Laurentian Universitys new School of Mines. In recognition of the Goodman familys generosity, Laurentian University President Dominic Giroux announced that the university will name the school in the Goodman familys honour. Ned Goodmans business and investment experience spans more than 40 years as a geologist, securities analyst, portfolio manager and senior executive, and he has an established reputation as one of Canada's most successful investment counselors. He was the driving force of the Dundee group of financial companies, which grew under his familys leadership from a $300million base to a $50-billion mutual fund entity. Mr. Goodmans work in the mining sector helped bring investment and jobs to many remote northern Canadian communities. By providing financing to many junior companies and helping to build successful, growing companies, he helped thousands of other Canadians prosper. He described his familys gift as a vote of confidence in the future of mining. Greater Sudbury has the best ore body and the largest concentration of expertise in mining supply, products and services in the world. We want to be associated with Laurentian University because its undoubtedly the go-to university for mineral exploration and mining in Canada. When I heard about Laurentians plans for a new innovative School of Mines, I knew I wanted to be a part of it. We will be encouraging our friends in industry to also support this great effort, said Ned Goodman after a recent visit to Sudbury. The combination of an aging workforce, competition for skilled workers, and declining enrolment in mining-oriented academic programs in most other Canadian universities is of great concern to the mining industry. These deficiencies will likely cause accelerated cost increases, delay of new projects and squeeze profit margins. Many industry leaders have reported a critical need for graduates whose technical competencies are supported by skills in commercial, cultural and environmental aspects of mining. A global search for the Founding Executive Director of The Goodman School of Mines is in its final stages. The position will work towards: Enhancing the skills of future professionals in mineral exploration and mining, in areas such as occupational health and safety, Indigenous relations, mining management and finance; Driving the creation of executive programs at the undergraduate and graduate levels, in modular, short-course or distance education formats, and other delivery mechanisms as opportunities may arise; Formalizing new provincial, national and international alliances with other postsecondary institutions, including an International Network of Schools of Mines with Laurentian serving as a major hub; Doubling enrolment in mining related programs by 2020; Improving the university experience for students in Earth Sciences and Engineering.

The Goodman School of Mines is a cross-Faculty initiative, reporting directly to the VicePresident, Academic and Provost, which will be supported by a Global Advisory Council and a $20 million endowment funded by donations from industry and by philanthropic gifts, a majority of which has now been raised. In addition, Laurentian University will be investing $5 million in the Goodman School by 2023. The Goodman Family Foundation has placed a proviso that any financial commitment, present or future, remains confidential. The gift will be used exclusively by The Goodman School of Mines. It will support the development of new mining-related courses and programs, improvements to the learning environment and opportunities both inside and outside the classroom, student recruitment, career and placement services, and guest speakers, and other specific use of funds to be mutually agreed upon, explained Dominic Giroux. Moreover, the Goodman family gift will ensure that we can attract the best and brightest students from around the world through scholarships, and promote our mining-related programs internationally. Mr. Goodmans eldest son, Jonathan Goodman, PEng., CFA, MBA, a graduate of the Colorado School of Mines and a JODAMADA participant and director, will serve as an Adjunct Professor at Laurentian. Ned Goodman was also attracted to Laurentian because he is a resident of Barrie. I want to do everything possible to help secure Laurentian Universitys new downtown Barrie campus, including attracting private gifts towards this important effort. Barrie absolutely needs it, and Laurentian has so much to offer. Laurentian has already pledged $14 million towards its new downtown Barrie campus, a commitment which is being matched by the City. Laurentian Universitys Next 50 Campaign, chaired by Terry MacGibbon, founder of FNX Mining, has now largely exceeded its original goal of $50 million, having raised $63.3 million so far with six months still to go before the end of the campaign. -30MEDIA CONTACTS For further information or to schedule an interview, please contact: Joanne Musico Manager, Communications Tel: 705-675-1151 ext. 3445 or 1.800.263.4188 ext.3445 jmusico@laurentian.ca

Sherry Drysdale Communications Tel:705-675-1151 ext. 3412 sdrysdale@laurentian.ca

About Ned Goodman Ned Goodman was inducted to the Canadian Mining Hall of Fame in 2012 and he was the 2012 recipient of the Fraser Institute's T. Patrick Boyle Founder's Award recognizing outstanding achievements in entrepreneurship, dedication to competitive capitalism and free markets, and philanthropic support for private-sector, non-profit enterprises. He has made transformative and enduring contributions to Canadas minerals industry and capital markets as a company-builder, merchant banker and investment advisor during a dynamic career spanning almost half a century. He applied his geological training and business acumen to help build several successful mining companies notably International Corona and Kinross Gold and nurtured many other mineral producing companies through astute and timely investments. In addition to being an outstanding member of the philanthropic community, Montreal-born Goodman is considered one of the leading architects of Canadas investment management industry. Along with his partners, he founded the first exploration flow-through partnership, CMP Group, which has raised almost $5 billion since the 1980s to help companies explore and develop mining and petroleum companies, leading to the generation of jobs and benefits for rural and northern economies in Canada. He was also the driving force of the Dundee group of financial companies, which grew under his familys leadership from a $300-million base to a $50-billion mutual fund entity. An early interest in science prompted Goodman to obtain a BSc degree in geology from McGill University. When geological employment was sparse and Goodman was laid off by Noranda in 1960, business also caught his attention, leading to him achieving an MBA degree from the University of Toronto in 1962. His career path took a financial turn in 1967, when he earned the designation of Chartered Financial Analyst and co-founded Beutel, Goodman & Company Ltd. which offered pension funds and private client investment advice. The firm also established a reputation as a go-to destination for mining and oil investment, with junior companies particularly benefiting from Goodman and his partners Seymour Schulich and Pierre Lassondes ability to recognize resource mineral projects of merit as well as sound management teams and raise funds for their exploration and development. Goodman played a leadership role in the re-emergence of Canadas gold-mining industry in the 1980s, ultimately becoming the largest shareholder and chairman of International Corona, which held interests in world-class gold mines in Northern Ontarios Hemlo region. He was part of the creation of Kinross Gold, Repadre (later IAMGOLD) and Dundee Precious Metals, and was an early backer of FNX Mining Company Inc. (later Quadra FNX Mining) and its discovery and development of new nickel deposits in Greater Sudbury. Mr. Goodman formed the Dundee group of financial companies in the 1990s which became Canadian leaders in providing investment and wealth management advice and a wide-array of investment products through DundeeWealth and Dynamic Funds which were sold to Scotiabank in 2011. Goodman is Chancellor of Brock University and founder of the Goodman Institute of Investment Management at Concordia University where he is an adjunct professor. He is a meaningful benefactor of many worthy causes. Among his many awards and honours are PDACs Developer of the Year Award, presented in 1989; the Entrepreneur of the Year Award in 2004 and the Morningstar Investment Career Achievement Award in 2005.

About Laurentian University Laurentian Universitys main campus is located in the City of Greater Sudbury, the hard-rock capital of Canadian mining, one of the worlds most important mining camps. An attractive modern city, with a population of 165,000, it is located four hours north of Toronto and features 330 lakes within city limits. The University serves 10,000 students, including 1,000 in Barrie. No Canadian university has won the Canadian Mining Games more often than Laurentian University in the past 20 years. Enrolment in engineering and earth sciences has more than tripled in the past seven years alone, rising to over 600 students from undergraduate to Ph.D. programs. Laurentian mining-related education and research programs cover the complete spectrum of the mining cycle. The University offers a number of signature programs, including Engineering, Geology, Native Human Services, and Restoration and Conservation Ecology at the undergraduate level, as well as signature graduate programs including Boreal Ecology, Mineral Exploration, Natural Resources Engineering, and Rural and Northern Health. Laurentians Sudbury campus is home to numerous mining-related research centres, the Mining Division of the Ontario Ministry of Northern Development and Mines, the Ontario Geological Survey (OGS), GeoLabs, the Mines Library and the Mine Recorder's Office. Mineral exploration and mining is one of Laurentians five areas of research focus, with its Mining Innovation Rehabilitation and Applied Research Corporation (MIRARCO) and Mineral Exploration Research Centre (MERC). In the past five years alone, its Centre for Excellence in Mining Innovation (CEMI) secured major research investments including $10 million from Rio Tinto, $5 million each from Vale and Xstrata, over $13 million from the government of Ontario and $4.25 million from Industry Canada. The Universitys new 2012-2017 Strategic Plan identifies a number of outcomes. By 2017, Laurentian will have: Integrated classroom learning with real-world experience through placements, casebased projects, independent learning, applied research, studies abroad, group work, community service or senior capstone projects, with alumni support; Established interdisciplinary executive programs through the new School of Mines; Launched new programs, subject to Senate approval, responding to community needs, including occupational health and safety, Indigenous relations, integrated approaches to environmental science and environmental studies.

More information can be found on the Universitys new 2012-2017 Strategic Plan at www.laurentian.ca/strategicplan.