Pamlico Property Summary

• Walker Lane past producer - approx. 50,000 oz Au at Bonanza grades.
• Property covers +2 sq. miles (+500 HA) - 100% controlled through option/earn-in agreement.
• Limited modern exploration focused on disseminated, low grade targets.
• Bonanza acquired the property at end of 1998, completed surface and underground mapping and sampling, 3-D (Vulcan) modeling, and limited initial drill program.
• Over 6 miles (10 km) strike of productive veins with numerous high grade targets.
• Underground sampling identified near surface B0 target where the best of nine (9) grab samples over 100m of dip and +50m of strike returned 1.98 opt (67.8 g/t), 1.01 opt (34.7 g/t) 0.92 opt (31.4 g/t), 0.65 opt (22.3 g/t) Au. Nearby, a different, parallel vein at surface returned 1.75 opt (59.9 g/t), 0.86 opt (29.4 g/t) Au - otherwise unexplored.
• Initial drill program summer 1999 returned three (3) narrow vein (0.6m true width) intercepts grading 20.4 opt (701 g/t), 3.9 opt (134 g/t), and 1.2 opt (42 g/t) Au. These intercepts are approx. 100m downdip of turn-of-century stopes.
• Minimum four (4) targets drill ready.