AS

The company includes the drilling program at the high sulphidation target on the property for the remainder of 2007.

The exploration plans for the remainder of 2007 include drilling programs at the high sulfidation target on the property, as well as at Mahmur Tepe, Koyulhisar, and Aydogan Tepe, all in the Pontide Volcanic Belt. Continue aggressive grass roots and generative programs in geologically prospective terrains. Completed the permitting and construction of six kilometers of roads through the center of the anomaly for mapping, sampling and drill access. Drilling results from the 2004 drill program confirmed that AS is an extensive copper-gold porphyry system. Refocused on high sulphidation targets through soil sample surveys and regional mapping and rock chip sampling at southern portions of the project area. Results outlined two high sulphidation targets: Temenni Tepe and Taskele Tepe. (Dec/06)

The majority of the work on the Demir JV area was done at this project. Drilled 14 holes totalling 5,200 meters and completed geologic mapping over the entire license. The rock and soil sampling grid was also extended to delineate the high sulphidation system on the southern portion of the license. Planned for 2007 consists of more detailed mapping and geochemical sampling followed by 2,000 meters of diamond drilling on both the sulphidation targets at Temenni Tepe and Taskele Tepe targets.