BOUCHARD-HEBERT (MOBRUN MINE)
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Property NewsJune 30, 2006 Reclamation work, consisting of rock removal and covering the tailings disposal area, continued during the second quarter. The Company will continue to explore for mineral deposits on the 7,982 hectares of exploration claims surrounding the mining leases. The concentrator building and equipment will be left intact pending any success in discovering economic mineralization in the near term. Exploration commenced in August 2005 to test targets outside the current mine area. The program, which is to test multiple targets, will continue throughout 2006. March 31, 2006 Induced polarization and magnetic geophysical surveys were carried out over Lac Dufresnoy. Final results are pending, but preliminary data showed interesting anomalies. December 21, 2005 Breakwater Resources announced that it raised Can$6 million by issuing 10 million flow-through common shares at a purchase price of 60 cents per common share. The shares were issued by way of private placement and have a four-month hold period. The proceeds of the flow-through financing will be used for exploration in Bouchard-Hebert mine and the Langlois mine, which is currently being developed.
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