ABCOURT-BARVUE

Announced drill results. Hole AB08-01 was drilled in a north-south direction with a 53° dip on section 5700E in an area not previously drilled, to increase the proven ore reserves. It intersected first a band of low grade material which averaged 59.33 g/t Ag and 1.03 % Zn over 7.0 meters. This was followed by a 4.0-meter band of better material which averaged 146.92 g/t Ag and 2.62% Zn.

Announced results of an optimization of the 43-101 feasibility study released in February. The pre-production capital expenditures (capex) have been lowered to $43.0 million compared to $67.9 million in the original feasibility study. After such a reduction in pre-production capex, the optimized feasibility study uses a realistic and more conservative base price of $0.90 US per pound of zinc. The new price is within the sensitivity range of the original report. With that average price over the first 10 years of production, a healthy IRR for the project before taxes of 20.2 to 21.5%, depending on the financing formula used, is achieved.

Abcourt Mines received results of an optimization of the 43-101 feasibility study released in February on the Abcourt-Barvue project in Quebec, Canada. The pre-production capital expenditures (capex) have been lowered to Can$43.0 million compared to Can$67.9 million in the original feasibility study. After such a reduction in pre-production capex, the optimized feasibility study uses a realistic and more conservative base price of $0.90 US per pound of zinc. The new price is within the sensitivity range of the original report. With that average price over the first 10 years of production, a healthy internal rate of return for the project before taxes of 20.2 to 21.5%, depending on the financing formula used, is achieved.