Properties with estimated resources

The Standard Gold Deposit is located in Duverny Township, in Abitibi, Quebec. The property consists of 8 claims hosting the Standard Gold – New Goldvue deposit. According to the report signed by Jack D. Charlton and Tracy Kelly, project geologists, estimated resources are in the order of 132,750 metric tons at 5.43 g/t Au (GM 46956). A new resource calculation conducted in 2006 by Genivar Inc. identified estimated resources of 136,398 tonnes at 4.25 g/t Au.

The Venus Deposit (Barexor) is located in Barraute Township, in Abitibi, Quebec. The property consists of 10 claims hosting the Venus and Venus-North gold deposits. The estimated resources of the Venus gold zone are in the order of 29,700 metric tons at 10.12 g/t Au (GM 45164). Geological reconnaissance work was carried out in 2005 and will be used to keep this property until a partner shows an interest.

Historical gold resources on both Standard Gold and Vénus (Barexor) Barraute are not NI 43-101 compliant, and should not be relied upon by the reader. Genivar’s calculation could meet NI 43-101 standards, but has not yet been filed. The Company is evaluating whether or not it should reopen the Standard Gold mine, considering the current economic context, with the price of gold on the rise.