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North James River

The Property contains a portion of the High Lake greenstone belt, in the northern part of the Slave structural province, which is host to the Wolfden deposit. The High Lake greenstone belt varies from 5 to 30km in width and extends 140km south from the Coronation Gulf. The greenstones consist primarily of felsic volcanic rocks but mafic rocks are also common, which is in contrast to other Slave province greenstone belts.

The Company's Property contains a number of old mineral showings within a brittle shear structure hosted in felsic volcanics. The Silver Bullet zone, examined by BHP Minerals in the early 1990's, consists of a quartz vein hosted in the north-northeast trending shear zone. The mineralization consists of pyrite, arsenopyrite, pyrrhotite, galena, sphalerite, bismuthinite and visible gold. It varies in width from 0.5-1.5m and has been traced for over 300m. Previous sampling by BHP reported gold grades from 14 chip samples ranging from 1.43g/t to 123 g/t over widths of 0.15m-1.0m. The best gold value was 123g/t from a chip sample of 0.40m. BHP collected three consecutive 1.0m chip samples which returned a weighted average of 9.58g/t Au over 3.0m. In addition, BHP collected 12 grab samples which ranged in gold values from 1.45 g/t to 175 g/t. True widths of the veins have not been discussed by BHP.

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