BAKE-JIAOYUN

Reported to have completed surface mapping for a 8 sq km area. The objective of the next phase of exploration is to focus on the mineralization zones that have been identified. A geophysical analysis as well as trenching and drilling programme is planned.

Released new assay results from the Bake gold property. In all drill holes, gold-bearing quartz veins were found, with two holes (Holes #7 and #12) showing three such quartz veins. The gold contents in the quartz veins and wall rocks were analyzed, with the highest substantive value being assayed at 4.69 g/t over a length of 0.47 meters (in Hole #12). In addition to relatively high gold values found in Hole #12, several grains of visible gold were found in some core samples.

Announced that a drilling program has commenced.