123(1)A mining claim recorded under the previous Act and in effect immediately before the coming into force of this Act shall be deemed to be a mineral claim recorded under this Act with a recording date the same as the recording date of the mining claim under the previous Act, and, subject to subsection (3), all of the provisions of this Act and the regulations with respect to mineral claims and to holders of mineral claims apply to the mining claim and the holder thereof.

123(2)A mining claim staked but not recorded under the previous Act may be recorded as a mineral claim in accordance with this Act and when so recorded the holder thereof and the claim are subject to all of the provisions of this Act and the regulations.

123(3)Section 41 of the previous Act applies to the work required and to the fee in lieu of work in relation to a mining claim referred to in subsection (1) for the term in progress at the time the mining claim becomes a mineral claim under this Act.

123(4)Any excess work credited to a mining claim under the previous Act that is deemed under this section to be a mineral claim under this Act, or that is recorded under this section as a mineral claim under this Act, shall be deemed to be credited to the mineral claim under this Act except that no excess shall be credited beyond the tenth term after the term in which the work was performed.