Western Athabasca Basin:

The company is conducting exploration on over 360,000 acres in the western Athabasca Basin, including the Cluff Project which is strategically situated on strike with UEX/AREVA'S (formerly Cogema) Shea Creek discovery.

Eastern Athabasca Basin:

The Company has acquired a 100% interest in claims covering over 500,000 acres in the Eastern Athabasca Basin of which a portion are adjacent to claims controlled by AREVA(COGEMA). The Eastern Athabasca Basin is home to, not only the largest, but also the richest uranium deposits in the world. These include the operating McArthur River Mine with reserves of 419 million lbs U3O8 grading 24.6% and the Cigar Lake Mine containing 231 million lbs U3O8 with an average grade of 19%.

The Athabasca Basin has been identified as the "global hotspot" for high-grade unconformity-related uranium deposits accounting for more than 32% of global uranium supply. The world wide average grade for uranium mine production is 0.24% and the Company's previously drilled historic CAR-425 hole intersected 0.85% uranium over 2.3 meters. The Company plans to expand on this resource with additional exploration activities.

The Company has also completed both AeroTem II & Megatem geophysical surveys on much of the property it controls in Saskatchewan. It is awaiting further analysis of these surveys to further define future exploration activities and drill targets. These exploration activities are ongoing.

Athabasca Project Map

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Mikwam Gold Project:

The Company has an interest in 26,885 acres in Northern Ontario referred to as the Mikwam Gold Project. This Project is situated along the Western extension of the Casa Berardi Deformation Zone which is located in Noseworthy Township close to the Quebec border and west of Aurizon's Casa Berardi Mine. The Mikwam Gold property has an extensive history of exploration and drilling that is highlighted by more than 500 drill holes with associated exploration costs exceeding $11 million.

An AeroTem II geophysical survey has been completed on the property which has included high quality magnetic and electromagnetic surveys. The Mikwam claims cover an extensive elongated, four kilometer long, magnetic high that reflects an iron formation. Basal till sampling in the vicinity of this feature returned gold values of up to 55 g/t in heavy mineral separates, suggesting proximity to significant gold mineralization. Previous exploration activity identified approximately 1,504,300 tonnes grading 3.21 g/t gold. Early 2006 Drill Program has been highlighted by intersections of 19 Metres grading 4.1 g/t Gold and 5.6 Metres grading 6.32 g/t Gold.

Mikwam Project Map

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