Smith Lake Project, Leeson Township, Missanabie, Ontario

Project Overview

The Smith Lake Property comprises six patented claims located in Leeson Township, in the Missanabie area of the Sault Saint Marie Mining Division, District of Sudury, Ontario. The Smith Lake Property can be accessed by gravel raod 21 km east of the town of Missanabie which in turn lies approximately 125 km northeast of Wawa or northwest of Chapleau. The Smith Lake property lies directly north of the former Renabie Gold Mine (Barrick/Homestake).

Former production from the Renabie mine amounted to approximately 4.5 million tons at an average grade of 0.2 oz gold/t (6.25g/t gold) producing approximately 900,000 ounces of gold. The Kremzar and Magino mines, located further to the northwest near Dubreville, were operated for short periods of time in the late 1980s and had reported reserves of 2.4 million tons at 0.23 oz/gold ton (7.2g/t gold) and 1.9 million tons at 0.25 oz gold/ton (7.8g/t gold) respectively.

The Company has not carried out any exploration work on the property since 2004 and consequently has written off the carrying value in 2007 according to its accounting policy.