Uranium zones extending up to 4 km, with widths of 500 meter (m) to 1km, were reported, with the smallest of the six zones being about 800 m by 400 m in size. Several of the areas have potential for iron formation hosted gold and copper, as well as uranium.

Results of the 2007 geophysical survey and interpretation prepared by MPX Geophysics Inc. are summarized as follows:

– A total of six large zones of uranium enrichment;

– Note: in this study, a zone is defined as having an extension approaching or exceeding a kilometre in measurement;

– A total of eight discrete uranium anomalies;

– Note: in this study, a discrete anomaly is defined as a circular or elliptical shaped anomaly of limited diameter, and of high amplitude (typically 2.5 eU to 5.5 eU) that is distinct from/or hosted in a uranium zone.

– A total of seven moderate conductivity electromagnetic anomalies;

– A total of 18 discrete magnetic targets that conform to a strike limited prismatic or vertical cylinder model;

– Identification of possible iron formation and gabbro dyke systems.

The Report concludes that:

“It is apparent that the study area is complex and has potential for hosting several types of economic mineralization. The potential exists for uranium, (and) gold at a minimum… As a result of the wide range of potential mineral deposits, the possibility of an IOCG multi-commodity type metalogenic system must be given serious consideration.”

Management is very pleased with the results of the study and with the quality of the Report. It cautions readers that the areas referred to are surficial, as these radiometric readings generally penetrate 1.5 meters in depth. Further ground truthing is required to quantify and qualify the uranium potential.

In 2008, a field program was carried out using AREVA’s base camp on the adjascent Minowean uranium project. Helicopter assisted reconnaissance, propecting, mapping, grab and soil sampling were carried out. 20 of the samples assayed for uranium at levels greater than 500cps (scintellometer). These samples were sent to Activation Laboratories for analysis by Neutron Activation/Mass Spectrometry (INAA/MS).

– Five samples returned uranium values greater than 1000ppm (equals 0.1%- the maximum reading from multi-element analysis);

– Four returned uranium values of between 500ppm and 1000ppm (equals 0.05% and 0.1%); and

– 11 samples returned uranium values of between 100ppm and 500ppm (equals 0.01-0.05%).

In March 2009, an additional follow-up electromagnetic (VTEM) survey was completed, including very close line spacings over a 13 square kilometer area where the uranium targets are interpreted as being most prospective. Geotech Ltd. and geophysicists at AREVA France are just completing their review and interpretation for the selection of the initial drill targets. The diamond drill and related equipment have been airlifted to the base camp