September 30, 2008 Executed a total of 25 channel samples sections of up to 33 m in length, representing a total of 238 individual samples, and obtained the following results.
Af Zone: total of 12 channels ranging from 3 to 33 meters with best results including:
• R-01 = 1.00 g/t Au over 14.00 m including 7.59 g/t Au over 1.00 m
• R-04 = 0.47 g/t Au over 20.00 m including 1.15 g/t Au over 6.00 m
Ah Zone: total of 3 channels ranging from 4 to 14 meters with best results including:
• R-12 = 2.41 g/t Au over 3.00 m including 7.23 g/t Au over 1.00 m
July 9, 2008 Announced that compilation work is well advanced and a first surface reconnaissance program will be
initiated by mid-July. Proper re-localization of previous work, surface follow-up on new IP anomalies, systematic channel sampling on the principal mineralized zones of the Penziwol area as well as thorough prospecting of the western part of the property will be executed by early August. A diamond drilling program is planned for the fall.
A first surface work program was conducted in the fall of 2007 by Golden Share and the results have now been integrated in the on-going compilation of the property in preparation for the upcoming field campaign. The fall 2007 program consisted in 42.3 km of line cutting executed over an area of 2.1 km² covering the eastern most edge of the Peewataï granodiorite and in particular over the Penziwol area, an east-west trending mineralized zone, where numerous 1-2 kg surface rock samples reported grades in excess of 30.0 g/t Au with a peak at 759.0 g/t Au.
In the early 1990's, INCO mainly followed-up on previous discoveries (U-Af-Ah zones or Penziwol area) and executed detailed mapping, outcrop sampling, preliminary channel sampling and limited exploratory drilling.
The Penziwol area is a 200 m long, east-west trending mineralized zone, where numerous 1-2 kg surface rock samples reported grades in excess of 30.0 g/t Au with a peak at 759.0 g/t Au. One channel sample executed on part of the U zone by INCO reported 14.8 g/t Au over 1.5 m. The mineralization consists in quartz veins and stockworks containing up to 8% pyrite with associated chalcopyrite and galena. Visible gold was reported on surface in 8 veins by INCO. Stacked veins can form individual zones in excess of 5 m in width that are hosted in silicified, sericitized and hematized granodiorite. Visible gold was reported in two instances in the following mineralized intervals : Hole DDH 78441 : 3.27 g/t Au over 0.80 m from 18.30 to 19.10 m and hole DDH 78443 : 1.30 g/t Au over 0.70 m from 1.10 to 1.80 m.