Courageous Lake (Tundra)

The Courageous Lake property, located approximately 240 kilometers northeast of Yellowknife in the Northwest Territories, Canada.

Gold resources of 4.2 million ounces in the measured and indicated categories plus an additional 6.0 million ounces in the inferred category, has been confirmed by Resource Modeling Inc. ("RMI") of Tucson, Arizona

43-101 report estimates cash operating costs of US$279 per ounce of gold and total costs of US$423 per ounce of gold.

It is to be expected that High Pressure Grinding Rolls technology in place of a conventional SAG mill circuit for crushing and grinding could reduce costs by 25%. Year-round access is possible by air only, either by fixed wing aircraft to the airstrip at Salmita, located 6 km to the south, or by fixed wing aircraft equipped with skis or floats to nearby lakes. In addition, access in mid-winter is possible over a 32 kilometer winter road which branches off the main winter road from Yellowknife to the Lupin Mine.