King Bay Gold Project, Ontario

Project Overview

Conquest operates the King Bay Project as a joint venture with KBG Minerals Corp. ("KBG") pursuant to an agreement whereby Conquest has earned a 60% working interest in the Project. If either party's working interest is reduced below 10%, the interest will be converted to a 10% net profits royalty.

Conquest has carried out four short drill programmes off the ice in King Bay during the winters of 2004-05, 2005-06, 2006-07 and 2007-08. Drilling has been targeted on evaluation of six magnetometer anomalies believed to represent mineralized breccia pipes within the quartz-porphyry body that underlies King Bay.