ALDEBARAN

Announced the results from the last four drill holes of the 12-hole, 2,000 m Phase I drilling program testing two geochemicalgeophysical target areas (Central Baixao Creek and Grota Rica). Drill hole ALD 04-09, collared 400 m east of ALD-04-08, returned only narrow weakly anomalous mineralization of up to 879 ppb Au over 1 m. The Baixao target remains open to expansion to the east as well as west and down-dip to the north of previous drilling. The other three holes targeted the Grota Rica target. All three holes, ALD-04-10, 11 and 12, returned geochemically anomalous gold results within the upper 12-30 m sections of each hole. The most significant result returned from the limited drilling at Grota Rica was 1.31 g/t Au over the 2 m interval from 61.0 – 63.0 m in drill hole ALD-04-11.

Announced that the remainder of the 2,000 m Phase I drilling program has been completed and assay results are pending. The remainder of the Phase I program (initiated in mid 2004) included the drilling of three diamond drill holes, totalling 500 m, testing two separate gold in soil anomalous targets, the completion of approximately 1,000 m of bulldozer trenching and collection of sixty auger soil samples.

Resumed drilling. An additional three to four drill holes were planned, totalling approximately 500m to complete the 2000m phase one drilling program started in 2004.Lund's initial two drill holes of 2005 will test a recently trenched area associated with an induced polarisation chargeability high and a 300m by 1200m soil geochemical anomaly.