GOLDEN HEMLO

Mapping work was completed.

The work was limited to geochemistry data, compilation mapping and preparation of statutory works report and the final IP report. The IP survey highlighted four resistivity anomalies in what was interpreted as the Cedar Lake pluton; these anomalies coincide with structural and formational trends interpreted by an airborne EM survey conducted by the MNDM. A sample collection campaign, including both soil and MMI samples, was carried out on more than 98% of the grid’s surface. Samples were submitted to the lab for assays and results are pending. In winter of 2002, work involving some line-cutting over 45 linear-km was conducted and immediately followed by a joint magnetometric – Very Low Frequency electromagnetic (V.L.F.) survey - on 40 linear-km. A reconnaissance geochemical survey followed to assess various targets defined in the geophysical surveys and to assess the various outcrops found on the property. Induced Polarisation (I.P.) geophysical survey was also conducted and data obtained from the survey have been received by the company.

AntOro Resources has closed two private placements for a total of 430 units at a price of CAD997.50 per unit, for gross proceeds of CAD428,925 with a Quebec resident and a non-Quebec resident. Each unit is composed of 700 common shares and 2,800 flow-through shares at 28.5 cents per share and of 700 share purchase warrants, each warrant allowing the subscriber to subscribe one common share of the company. AntOro plans to use the proceeds of the financings for exploration on the company's properties in Quebec and in Ontario. AntOro reports that the first phase of the exploration programs on the Wapiscan, Lac des Isles, White Lake and Golden Hemlo I and II properties is completed.