HANA-LOBO

Discussions were being held with other parties interested in joint venturing the next phase of exploration work on the property. Until the permit situation is clarified with Sodemi and until the political situation in the country is stabilized, no further work is budgeted on this property. Prior to 1999 reconnaissance exploration work was carried by SODEMI alone, then in a Joint Venture with Anglo American which consisted in soil, pits and trenches geochemical sampling; a magnetometer and radiometric airborne survey was also completed along with a series of nine (9) RC holes for 728 m. Based on these results, inferred resources of 3.8 tonnes of gold were estimated.

Discussions were being held with other parties interested in joint venturing the next phase of exploration work on the property. Until the permit situation is clarified with Sodemi and until the political situation in the country is stabilized, no further work is budgeted on this property. Prior to 1999 reconnaissance exploration work was carried by SODEMI alone, then in a Joint Venture with Anglo American which consisted in soil, pits and trenches geochemical sampling; a magnetometer and radiometric airborne survey was also completed along with a series of nine (9) RC holes for 728 m. Based on these results, inferred resources of 3.8 tonnes of gold were estimated.