CLAVOS PROJECT/ TIMMINS (60% Option)

• Prior gold resource reported for the project by St. Andrew Goldfields in October 2006. The resource was calculated by Scott Wilson RPA & Associates and supported by a 43-101 report filed on SEDAR by St. Andrew Goldfields.
• Existing Mining permit until 2019.
• Existing infrastructure in place including underground ramp access to the 300 metre level, underground levels developed every 25 metres, power to site, surface ventilation system, water management facility.
• $72 million has been invested on the Clavos Property including $46 million on underground development.
• Strategically positioned 10 kilometres from Apollo Gold’s 2,000 tonne per day Mill located in Stock Township.
• Located in the prolific Timmins Mining camp and very close geographically (20kms) to Goldcorp’s (TSX-G) Hoyle Pond mine which has produced more than 2.4 Mozs since 1985 and is still in operation.

BOREALIS MINE/ NEVADA (50% Option)

• Fully permitted for oxide gold production; Borealis had prior successful oxide gold mining.
• Drilling program in 2010 with focus to potentially expand resources
• Production anticipated 9 months after construction initiated. 
• Bankable study underway with new  NI43-101 resource estimate
• Joint Project team in place