February 18, 2005 Ongoing quality assurance / quality control (QA/QC) program has identified a laboratory error resulting in over reporting to the company of gold assays for 21 of 240 samples collected as part of the summer 2004 channel sampling program on the Tree River Property. The incorrect assay results were incorporated in a news release disseminated on Nov8/04. The 21 affected samples were collected from 3 of 17 total cut channels. When the correct assay results are incorporated into the project dataset, the best mineralized intervals for the affected channels are downgraded, including Channel CS-13 (3.00 m grading 0.38 g/t Au), Channel CS-14 (3.96 m grading 0.16 g/t Au), and Channel CS-15 (8.19 m grading 0.38 g/t Au).
November 8, 2004 Provided an update of recent exploration activities on several of its gold properties in the West Kitikmeot region. At the Tree River Property, the company concentrated its efforts on the Conglomerate showing where a gold-bearing quartz pebble conglomerate horizon has been traced intermittently over a total strike length in excess of 3km. The horizon has an average exposed thickness of approximately 5m, ranging from less than 2m to locally in excess of 20m. Highlight results from the program include channel CS -12, which returned an average grade of 8.24 g/t Au over its 2.85m width (uncut - includes 0.35m grading 61.15 g/t Au). Channel CS-15, one of three channels in the Coffee Lake area returned 1.55 g/t Au over 8.19m, including 3.51m grading 3.08 g/t Au.
An exploration program of airborne geophysical and detailed till sampling was planned for the 2002 field season.
July 31, 2002 Work carried out to date on the property includes: Completion of a high resolution aeromagnetic survey that has identified sixty priority targets · The data are undergoing continuing enhancement and processing to identify additional targets and structural features that may have controlled kimberlite pipe emplacement · Geological mapping and investigation that has identified a gold bearing quartz pebble conglomerate grading up to 120 g/t in selected samples Field crews were on-site examining the anomalous geophysical targets identified to date and collecting till samples for the identification of kimberlite indicator minerals. Drilling in the fall or winter to test for possible kimberlites will be planned following this ground work.
