VANECK ETF TRUST

Ticker: GDX CUSIP: 92189F106 Class: GOLD MINERS ETF

PCJ Investment Counsel Ltd.'s Holding History (CIK: 0001426318)

Note: Option positions (PUT/CALL) are excluded.

Q3 2016

Shares 49,500 Value ($000) $1,308 Avg Close — Range —

Q2 2016

Shares 55,000 Value ($000) $1,524 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2016	49,500	$1,308	—	—
Q2 2016	55,000	$1,524	—	—