Actually the fee for reinstating points is $0.01/mile plus $30 service charge. Still a rip-off, but not nearly as bad as $0.02/mile.

"Expired miles are eligible for reinstatement up to 7 years following the last accumulation or redemption transaction in the account, whichever is later. You may reinstate a portion or all of your expired miles for an administrative fee of C$30 plus C$0.01 per mile reinstated (plus any applicable taxes). Reinstated miles will be available for redemption for 7 years from the date of reinstatement as long as you remain active in the program."