• Recently completed positive feasibility study indicates a robust economic profile including:
  • Gold Production averages 46,000 ounces/year for first 3 years.
  • Cash Production cost of US $415 per ounce produced.
  • Capital Cost of US $17.7 million (includes indirect costs).
  • Capital investment payback period of 13 months.
  • Total Gold produced 231,000 ounces of gold.
  • NPV of Base Case is US $51 million (after tax, discounted).
  • IRR of Base Case is 96% return.
  • Pre-tax Cash Flow of US $104 million (undiscounted, using spot gold price of US $1104 per ounce - December 28, 2009).
• 256,431 Ounces of Gold Proven and Probable Mineral Reserve
• 313,183 Ounces of Gold Measured and Indicated resources - at a 10.35 grams per ton gold grade.
• 144,892 Ounces of Gold Inferred Resources, which are in addition to the Measured and Indicated Resources - at a 12.21 grams per ton gold grade.
• Significant expansion potential identified: South Pit Gold Zone and Reserves area open to expansion.
• Permitting expected to be completed during the fourth quarter of 2010.
• Wholly owned property in a World Class Gold Province.

The Corporation is focused on the development of a gold mine at Copperstone. Contact us should you be interested in any of our exploration properties.