Properties

The Company holds a 100% interest in the Crypto zinc project in Utah where Cyprus Minerals estimated a historical resource of 5.4 million tonnes of sulphide mineralization grading 8.7% zinc and a further 2.8 million tonnes of near surface oxide mineralization grading 7.0% zinc. In 2006, it completed several surveys including photogrammetry, deep penetrating IP and detailed helicopter-borne magnetics. The IP and magnetic surveys showed very strong responses over known mineralization and revealed the presence of similar anomalies nearby in an area that has not previously been tested by drilling.

As of July 2007, the Company is engaged in a 10,000 metre program of drilling aimed mainly at expanding known mineralization, which is open in most directions, and leading to an updated resource estimate. Additional drill targets include the extensions of high grade silver-lead-zinc mineralization at the formerly producing Utah Mine, geophysical anomalies identified in 2006 that could represent a new zone of Crypto-style zinc mineralization as well as deeper porphyry-style molybdenum mineralization encountered in past drilling.
In April 2007, the Company elected to terminate its option on the Stoke Mountain property in Quebec.

The Company also holds a 100% interest in the Fly Lake VMS project in the Confederation Lake greenstone belt in northwestern Ontario. It is searching for a partner to advance exploration at this property.