GABON PROJECT

Property Description
In July of 2008, after two years of aggressive fieldwork we converted 3 areas of it's 12,800 square kilometer Mitzic "prospection" permit into three exploration licenses, each covering an area of 2,000 square kilometers. These exploration licenses entitle the Company to employ sub-surface exploration methods, such as drilling and trial mining. These licenses are valid for three years, are transferable and are renewable twice with each renewal lasting for three years. The licences are accessed via a major sealed road 150km east of the capital; Libreville.

GEOLOGY: The "Mitzic", "Mevang", and "Ndjole" exploration licences take in areas of Archaean basement rocks and Palaeo-Proterozic cover sequences that are highly prospective for gold, manganese and iron. An extensive stream sampling campaign conducted by the BRGM in the 70's and 80's identified numerous stream anomalies within these areas that had never been explored with modern exploration methods due to the dense cover of equatorial rainforest, low population of the country, and the government's focus in the past on petroleum and forestry. The Mitzic exploration licence takes in a series of Archaean rocks that include greenstone belts and Banded Iron Formations, rocks which are well-known foci of gold mineralisation. It also includes the continental-scale structure, the "Nkol Fracture Zone", splays off which are considered highly prospective environments for gold deposits. The Ndjole and Mevang exploration licences take in Palaeo-Proterozoic rocks that form part of the Central West African Orogenic Belt, and are strongly deformed and metamorphosed to greenschist facies, making them highly prospective for large "orogenic"-type gold deposits. The Ndjole licence also takes in structural disruptions associated with a second continental-scale structure, the "Ikoye-Ikobe Fault" . This area is characterized by extensive artizinal gold workings of which the gold is thought to come from a local primary source.

Commodity Summary
GOLD: An aggressive field campaign undertaken by us during the last two years initially targeted areas identified by analyzing historical data with a prospecting and soil geochemistry program. During this time, over 11,000 soil samples, and 300 rock samples have been taken, from which 4 high priority gold targets have been identified. In July 2008 we completed a 1,200 line kilometre airborne electromagnetic (EM) survey targeting 3 of these anomalies.

MANGANESE: We have identified numerous manganese occurences within its exploration licenses which lie immediately adjacent to, and within the same geological unit as the "Bembele" manganese occurence currently undergoing feasability, and which has a current estimated reserves of 30 M/t of manganese grading between 30% to 40%. None of these manganese occurrences have ever been followed up with modern exploration techniques.

IRON: Our northern exploration license takes in a region containing over 70 kilometers of magnetic highs that correspond to a mixture of banded iron formations (BIF) and ferrugenous quartzites, with localized zones of enriched magnetite. The main body of the iron prospect lies less than 60 kilometers from the main railway line that leads to the main port of Gabon.

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