Sill Lake Silver Lead Project

 

On March 17, 2008 , the Company announced that it had entered into two option agreements to acquire an undivided 50% working interest in the past producing Sill Lake silver-lead project in the Township of Van Koughnet , near Sault Ste. Marie, Ontario .

In 1996, prior to the closure of the mine, the workings were visited by James Bates, P.Eng.  While it is not possible to present mineral resources and mineral reserves in compliance with NI 43-101 (Standards of Disclosure for Mineral Projects), his preliminary review at that time, based on sampling of the floor of the 800 foot ramp driven in ore, reported a “resource of 350,000 tons with an average grade of 13-14% lead and 13 oz/ton silver over a 4 foot mining width.”  The technical information contained in this release with respect to the Sill Lake silver-lead project was provided by John A. Rae, P. Geo., who is a qualified person within the meaning of NI 43-101. Mr. Rae had recent discussions with Mr. Bates concerning his resource estimates and based on those discussions, he considered them to be currently relevant, valid and reliable.

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Since optioning the property, the company has completed line-cutting, an IP geophysical survey, and a diamond drilling program to confirm the validity of historic data regarding grades and tonnage of potential resources. Exploration efforts focused on testing the remaining resources accessible by the existing mine workings and potential extensions to the resource along strike and at depth.