Gryphon Gold Corporation provided an operational update as of February 28, 2013. The company has submitted several permit applications that would allow the solution flow at the Borealis Property to increase almost 50%, up to 2,600 gallons per minute. The current solution flow permit allows throughput of approximately 1,750 gallons per minute, which is nearly double the approximately 950 gallons per minute that has been realized to date.

While the Water Pollution Control Permit was issued by the State of Nevada in the fourth quarter of 2012, the main overriding permit, the Modified Plan of Operations, continues to be under review by the U.S. Forest Service and the Nevada Department of Environmental Protection. Borealis Mining Company LLC ("Borealis"), the entity that was created as a result of the joint venture with Waterton Global Value L.P. ("Waterton"), continues to work with both agencies to complete the permitting.