BOREAL AGROMINERALS INC.

43-101 TECHNICAL REPORT

ON THE

SPANISH RIVER CARBONATITE

VENTURI & TOFFLEMIRE TWPS.

SUDBURY MINING DISTRICT

ONTARIO

Devon CorporationGarry K. Smith, P.Geo

October 30, 2012

Table of Contentspage

1 Summary 12 Introduction 5

Units and Currency 53 Reliance on Other Experts 64 Property Description and Location 75 Accessibility, Climate, Local Resources, Infrastructure and Physiography 96 History 107 Geological Setting and Mineralization 14

Regional Scale Geology 15Structure 16Metamorphism 16Geophysical Characteristics 17Property Scale Geology 17Mineralized Zones 20

8 Deposit Types 23Carbonatites 23

9 Exploration 2510 Drilling 2611 Sample Preparation 2712 Data Verification 2813 n/a Mineral Processing and Metallurgical Testing14 n/a Mineral Resource Estimates15 n/a Mineral Reserve Estimates16 n/a Mining Methods17 n/a Recovery Methods18 n/a Project Infrastructure19 n/a Market Studies and Contracts20 Environmental Studies, Permitting, and Social or Community 2921 n/a Capital and Operating22 n/a Economic Analysis23 Adjacent Properties 2924 Other Relevant Data and Information 2925 Interpretation and Conclusions 30

Risks and Uncertainties 30Foreseeable Impacts to Project 31

26 Recommendations 31Recommended Work Programs, Next Phase of Exploration 31Recommended Costs 32

27 References 33Assessment Files Reviewed 35

28 Certificate of Author 36

Table of Contents

Tables page

1 Staked Claims and Lease Claims Chart 82 Climate Data for Sudbury Chart 93 Verification Sample Results 214 Recommended Phase 1 Exploration Costs 32

Figures

1 General Location Map 22 Property Claim Map 73 Verification Sample Location Map 224 Idealized Spanish River Carbonatite Model 24

Appendix

A Consent of Qualified PersonB Verification Sample Assay Certificates