2008 Interview with: Cartier Resources Inc. (ECR-TSXV) Chairman, President and CEO - featuring: their gold exploration in the prolific Abitibi Gold Belt in Quebec, with their flagship Kinojevis property.

Cartier Resources Inc. (ECR-TSXV)

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With Low Cost Logistics Focused In The High Reward Jurisdiction Of The Productive Abitibi Area, Cartier Resources Has An Edge On Other Gold Exploration Companies


Cartier Resources Inc.

851-5e Avenue
Val-d’Or, QC, Canada, J9P 1C1
Phone: 819-874-1331

Philippe Cloutier, P.Geo
President and CEO

Interview conducted by:
Lynn Fosse, Senior Editor
Published – April 4, 2008

Philippe Cloutier, P.Geo, President and Chief Executive Officer

Philippe Cloutier, P.Geo is a graduate of the University of Montreal (B.Sc. Geology 1988) and has over 19 years of experience in the mining exploration and development business. Mr. Cloutier was most recently Vice President Exploration for Alexis Minerals Corp., and has previously worked for industry leaders such as Noranda Inc., Aur Resources Inc., and Soquem. Mr. Cloutier has had a discovery-oriented career. He played a lead role in the discovery and delineation of the Bell-Allard South Cu-Zn Mine (3.4 Mt @ 1.26 % Cu, 13.94 % Zn, 0.67g/t Au, 42.34g/t Ag) in Matagami, Quebec. More recently, as V.P. Exploration for Alexis Minerals Corp., he was involved in the discoveries of the Montbray and West Ansil VMS Deposits located in Rouyn-Noranda, Quebec. Throughout his career, Mr. Cloutier has gained a vast experience in deep drilling (>1000m) techniques, Borehole Pulse EM geophysical targeting, Titan24 surveying, and geochemical/geological interpretation with respect to Gold and Copper-Zinc Volcanogenic Massive Sulphide Deposits. He serves as member of the Order of Geologist professional inspection committee, is a director of the Quebec Mineral Exploration Association (QMEA), and is a director of the Chamber of commerce of City of Val-d'Or, Quebec.

Company Profile:
Cartier Resources Inc. is a pure-play exploration company focused on gold in the prolific Abitibi Gold Belt in Quebec. The Company's portfolio of properties consists of wholly-owned projects which are managed by a team of geologists who have a proven track record of making significant discoveries. Cartier Resources' resolve is to increase shareholder value from acquisition to discovery through the use of time-tested exploration technologies and proprietary geochemical tools.

A major portion of the 2008 exploration budget will be invested on the company's flagship Kinojevis property.

Mr. Cloutier, what is the focus for Cartier?
Mr. Cloutier: “Cartier has a focus on gold in Quebec’s premiere jurisdiction which is the Abitibi Greenstone Belt. We also focus on a wealth generation process, which is called exploration. In a nutshell we explore for gold in the Abitibi.” 

CEOCFO: Why do you like that area?
Mr. Cloutier: “The Abitibi area has a proven historical production of over 200 million ounces mainly stemming from two world-class fault zones called the Cadillac Fault Zone and the Destor-Porcupine fault zone. We have been able to acquire 100% ownership of 15% of the linear extent of one of the major producing faults Destor-Porcupine.” 

CEOCFO: Where are you in the process of exploration on your projects?
Mr. Cloutier: “We have started exploring this stretch of ground very recently in June 2007. We listed Cartier in June 2007 and very shortly thereafter completed a thorough 2600 linear kilometer heliborne survey over the property; this generated over 100 drill targets. Then we embarked on a very aggressive yet controlled prospecting and trenching program and that led us to drilling in the fall of 2007. To date we have completed over 5000 meters of drilling and in 2008 we plan on focusing over 10,000 meters of drilling on the property.” 

CEOCFO: Are you able to get the people and equipment to do the services that you need?
Mr. Cloutier: “It is indeed a problem in our business these days. However, for companies such as ours that have elected to focus our energy in the shadow of established head frames, it is much easier to get contractors simply because we have year-round access to the properties. This is important since drilling, and the drillers required, are the main component of our exploration. These men get to live a normal life that includes getting to go to their son’s hockey or soccer tournaments. The supervisors on these rigs can actually service the machine if it ever breaks down within an hour or two of work, which is not the case when you are operating in peripheral jurisdictions supported by helicopter. In essence, that lowers our cost and ensures that we have the proper and appropriate amount of manpower and the work gets done.” 

CEOCFO: Your geologists have a very successful track record; please tell us a bit about your team.
Mr. Cloutier: “Our vice president of exploration is Philippe Berthelot. Mr. Berthelot comes with over twenty years of exploration experience in the Abitibi. He has explored for gold, copper, and zinc and he has been associated with many significant discoveries and deposit delineations. These include the Discovery project, which is currently held by Strateco and the Lac Pelletier project that is currently held by Alexis Minerals. Mr. Berthelot is head of exploration for our company and he is the one that pilots all of our exploration work. Then there is Henry Morisette, who is a prospector with over thirty years experience.  He is the watchdog that ensures that all of our fieldwork gets done in a low-cost high reward fashion. I, as president and CEO of the company have over 20 years experience and credited with the discovery Bell Allard South copper/zinc deposit in the Matagami mining camp. We believe that all of this experience factored together, gives the shareholders a team which is better equipped to manage the risk which is inherent to exploration.” 

CEOCFO: How much is science and how much is experience or gut feeling?
Mr. Cloutier: “It is greater than 80% science. A lot of it is supported by very robust historics. If we discover on the Destor-Porcupine fault, we can support that discovery with hundreds of masters in Ph.D. thesis’ that have been written on deposits and showings along the faults zones which are within trucking distance of our property and that enables us to more rapidly uncover the puzzle and delineate the occurrence and the deposit. 20% is a good dose of luck in that we were able to attract the right partners and the right team members to this new venture, which is Cartier Resources.” 

CEOCFO: What is the financial picture of the company?
Mr. Cloutier: “We are a new company and when we listed we had a private placement which generated over $4.5 million in cash. Currently we still have $3.8 million in the bank and therefore have sufficient cash to weather the storm, which appears to be brewing right now. Our low-cost high-reward program, about a million dollars per year, gets us roughly 40-50 diamond drill holes or one drill hole per week. We have sufficient cash to stay on for the next couple of years at this rate of aggressive exploration.” 

CEOCFO: Do you own all of your properties 100%; and what is your philosophy in joint venturing?
Mr. Cloutier: “We own all of our current assets 100% and that in itself is high value for the shareholders. We will seek partners to joint venture non-core assets of our portfolio. However, we currently focus on one project, which is the Kinojevis project. This asset is a continuous 50 kilometers along a major tectonic zone that has produced over 80 million ounces of gold. In itself, roughly 15 to 20 different companies would traditionally hold this «project». Our next move is to chop down the project into much more manageable units, «properties» and potentially joint venture these portions to other companies.” 

CEOCFO: There is a lot of opportunity to go in a lot of directions!
Mr. Cloutier: “Exactly, and we could see a lot of potential stemming from our efforts. We would like to remind people that our efforts are focused on gold in the Shadow of  head frames, where we explore. This is where we believe is wealth creation in the mineral industry. There is a lot of opportunity if one decides to focus on Cartier.” 

CEOCFO: In closing, why should potential investors pick Cartier out of the crowd?
Mr. Cloutier: “My answer stems from a scientist point of view and as a former exploration manager, and currently CEO of a mining company; I think there is extremely high value in people that focus on one process, one commodity, and one jurisdiction. Some teams may be able to focus on a lot of jurisdictions and processes, for example they may have a uranium property in Africa, a copper property in high north and a gold property in Nevada and then they try to manage all of that in one year. We feel that the lowest cost logistics stems from people that can focus in one jurisdiction, especially a jurisdiction that lets you mine what you find. We feel the highest reward goes to people that focus in a proven prospective and productive area such as Abitibi. We also feel that gold offers the company that finds it the opportunity to develop and maintain 100% of its development and its destiny.”


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“The Abitibi area has a proven historical production of over 200 million ounces mainly stemming from two world-class fault zones called the Cadillac Fault Zone and the Destor-Porcupine fault zone. We have been able to acquire 100% ownership of 15% of the linear extent of one of the major producing faults Destor-Porcupine.” - Philippe Cloutier, P.Geo

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