During the three field seasons of exploration work completed by Newmont, a substantial amount of exploration data was generated from a work program that included soil sampling, rock sampling, geologic mapping, surface and airborne geophysics, core drilling and reverse-circulation drilling.

This data will be transferred to NJMC and will be used to plan future exploration on the prospects in the area.

During 2010, Newmont completed both core and reverse-circulation (RC) drilling at the Toboggan project.

A total of eight core holes totaling 914.2 meters and seven RC holes totaling 941 meters were drilled.

Six of the core holes were drilled at Gold Butte and intercepted a fault with anomalous gold mineralization.

In 2009, a core hole drilled near the outcrop of this mineralized structure intercepted 2.52 grams per tonne (gpt) gold over a four-meter interval including one meter of 7.15 gpt.

An untested target at the Gold Butte prospect is the intersection of this gold bearing fault structure with a large quartzite unit which is known to be a favorable host for gold mineralization at the nearby Golden Chest mine.

The remaining two core holes were drilled at Mineral Ridge, and both holes were terminated before hitting the target due to difficult ground conditions, but anomalous intervals of gold values (71 meters of 104 ppb in DDH-14) were observed in quartzite beds.

The seven RC holes were drilled at various prospects near Toboggan Creek, and RC-7 was the most promising with 100 meters of 100 ppb gold from the surface at the Golden Reward prospect.

Newmont was unable to obtain the required US Forest Service drilling permit until the end of the 2010 drilling season so Newmont’s highest priority targets remain untested, but now permitted.

Additionally, NJMC now has complete control of the Niagara copper-silver prospect which contains an indicated and inferred resource of 17.7 million tonnes at an average grade of 0.39% copper and 15.5 grams per tonne of silver which implies a total of 8.8 million ounces of contained silver.

The company plans to seek separate joint venture partners for the gold prospects and the Niagara copper-silver deposit to fund further exploration so as to gain more exposure to silver prices.