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Swannell Property

The Swannell Property, which includes seven mineral claims (76 units) encompassing 1,900 hectares, is located 195 kilometres northwest of Mackenzie, B.C. and covers the Swannell zinc, lead and silver showings. The showings consist of several sub-parallel bands of gossan, developed on sulphide mineralization consisting of sphalerite, galena and pyrite hosted by siliceous limestone of the Cambrian-aged Kechika Group.

The Company optioned the property from Teck Cominco Limited ("Teck Cominco") in late April 2001. The Company has also granted Teck Cominco the right of first refusal on any contract to smelt mineral products from the property provided that the smelter rates are competitive.

In 2002, in addition to the three holes drilled to test the MMI soil anomalies along the common boundary of the adjoining Ingenika and Swannell Properties (see Ingenika Property), a fourth hole was drilled on the south side of the Swannell River to test for the extension of the Swannell base metal showing that had only been encountered on the north side of the river. The hole intersected 1.90% zinc, 0.37% lead and 4.6g/t silver over 2.1 metres at a down hole depth of 64.4 to 66.5 metres.

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