Looks like good drill results, and heavy volume seeing the stock up to 10 cents, up from 5 cents.

Time	Ex	Price	Change	Volume	Buyer	Seller	Markers
	11:48:56	V	0.10	+0.05	1,000	88 E-TRADE	79 CIBC	K
	11:47:38	V	0.09	+0.04	10,000	2 RBC	9 BMO Nesbitt	K
	11:44:48	V	0.10	+0.05	1,000	88 E-TRADE	79 CIBC	K
	11:44:16	V	0.09	+0.04	40,000	2 RBC	88 E-TRADE	K
	11:39:23	V	0.10	+0.05	1,000	88 E-TRADE	79 CIBC	K
	11:39:23	V	0.095	+0.045	4,000	88 E-TRADE	7 TD Sec	K
	11:39:23	V	0.095	+0.045	1,000	88 E-TRADE	1 Anonymous	K
	11:34:06	V	0.075	+0.045	500	88 E-TRADE	57 Interactive	E
	11:34:06	V	0.095	+0.045	1,000	88 E-TRADE	1 Anonymous	K
	11:32:52	V	0.09	+0.04	10,000	2 RBC	88 E-TRADE

News:

King's Bay, Mainstream intersect metal zones at Phillis

2008-11-26 06:11 ET - News Release

Also News Release (C-MJO) Mainstream Minerals Corp

Mr. Richard Rivet of King's Bay reports

KING'S BAY GOLD INTERSECTS WIDE ZONES OF URANIUM, RARE EARTHS, RARE METALS, SULFUR AND IRON AT THE PHYLLIS LAKE PROJECT, IGNACE, ONTARIO

King's Bay Gold Corp. and Mainstream Minerals Corp. have successfully completed their phase 1 drilling program on their joint-ventured Phyllis Lake project located in Grummitt and Cathcart townships near the town of Ignace, Ont.

The results from this program confirm the presence of wide zones of uranium, rare earths, rare metals and other minerals, notably sulphur and iron, at or near surface in East zone No. 1. All of these minerals have significant economic value and given that these wide zones are at or near surface, they are amenable to open-pit mining.

Both companies are also co-operating to stake more land in the immediate area which could triple the size of this project from the current 64 claim units (2,560 acres). The property is easily accessible via the TransCanada Highway and has a location advantage of being intersected by a railroad.

The results from the completed phase 1 program are as follows.

Hole No. 1

From two to 11 metres: Nine metres grading 0.0204 per cent uranium, 470.55 grams per tonne (g/t) chromium, 27.40 g/t gallium, 16.52 g/t lithium, 18.22 g/t scandium, 50.66 g/t vanadium, 26 g/t tellurium, 8.35 g/t tantalum, 18.09 g/t strontium, 5.50 g/t zirconium, 7.23 g/t cadmium, 1.021 per cent calcium, 0.415 per cent magnesium, 0.0654 per cent manganese, 0.0343 per cent titanium, 0.0222 per cent copper, 0.0165 per cent phosphorous, 15.03 per cent sulphur and 28.80 per cent iron

From 18 to 29.5 metres: 11.5 metres grading 0.0080 per cent uranium, 606.66 g/t chromium, 10.37 g/t gallium, 18.58 g/t lithium, 11.04 g/t rubidium, 10.19 g/t scandium, 21.79 g/t vanadium, 8.58 g/t tellurium, 3.33 g/t tantalum, 5.91 g/t strontium, 6.87 g/t zirconium, 4.08 g/t thorium, 8.45 g/t cerium, 1.75 g/t cadmium, 1.16 g/t yttrium, 0.562 per cent magnesium, 0.0603 per cent manganese, 0.0513 per cent titanium, 0.0245 per cent phosphorous, 7.27 per cent sulphur and 15.32 per cent iron

Hole No. 2

From 1.48 to 16.5 metres 15.02 metres grading 0.0285 per cent uranium, 395.71 g/t chromium, 30.22 g/t gallium, 10.35 g/t lithium, 20.39 g/t scandium, 13 g/t vanadium, 29.25 g/t tellurium, 9.16 g/t tantalum, 15.17 g/t strontium, 5.23 g/t zirconium, 9.51 g/t cadmium, 1.091 per cent calcium, 0.450 per cent magnesium, 0.0585 per cent manganese, 0.018 per cent titanium, 0.023 per cent copper, 0.0142 per cent phosphorous, 19.09 per cent sulphur and 33.35 per cent iron

From 28.5 to 33 metres: 4.5 metres grading 0.0164 per cent uranium, 591.25 g/t chromium, 19.75 g/t gallium, 19.12 g/t lithium, 18.50 g/t scandium, 29.37 g/t vanadium, 22.37 g/t tellurium, 6.62 g/t tantalum, 7.12 g/t strontium, 3.62 g/t zirconium, 4.37 g/t cerium, 7.37 g/t cadmium, 0.450 per cent calcium, 0.550 per cent magnesium, 0.0618 per cent manganese, 0.0375 per cent titanium, 0.0171 per cent phosphorous, 12.15 per cent sulphur and 19.31 per cent iron

Hole No. 3

From 7.5 to 9.5 metres: Two metres grading 0.029 per cent uranium, 546.75 g/t chromium, 33 g/t gallium, 6.50 g/t lithium, 17.50 g/t vanadium, 33 g/t tellurium, 11 g/t tantalum, seven g/t zirconium, 6.25 g/t cerium, 3.50 g/t cesium, 7.75 g/t lanthanum, 11.75 g/t cadmium, 33 g/t rubidium, 11.75 g/t scandium, 1.37 g/t samarium, 1.72 g/t thorium, 0.3 per cent magnesium, 0.0397 per cent manganese, 0.0332 per cent titanium, 0.0233 per cent phosphorous, 18.95 per cent sulphur and 34.50 per cent iron

From 12.5 to 19 metres: 6.5 metres grading 0.01 per cent uranium, 449.16 g/t chromium, 19.14 g/t gallium, 16.57 g/t lithium, 25.41 g/t scandium, 68.42 g/t vanadium, 12.35 g/t tellurium, 5.28 g/t tantalum, 28.50 g/t strontium, 4.14 g/t zirconium, 3.78 g/t cadmium, 1.401 per cent calcium, 0.51 per cent magnesium, 0.0655 per cent manganese, 0.0310 per cent titanium, 0.0199 per cent copper, 0.0195 per cent phosphorous, 10.05 per cent sulphur and 20.01 per cent iron

From 37.5 to 42.5 metres: Five metres grading 0.0106 per cent uranium, 500 g/t chromium, 13.27 g/t gallium, 18.63 g/t lithium, 12.5 g/t scandium, 23.63 g/t vanadium, 11.81 g/t tellurium, 4.18 g/t tantalum, 11.45 g/t strontium, 8.09 g/t zirconium, 3.18 g/t cadmium, 0.521 per cent calcium, 0.360 per cent magnesium, 0.0364 per cent manganese, 0.0181 per cent titanium, 0.0206 per cent phosphorous, 12.08 per cent sulphur and 20 per cent iron

Hole No. 4

From 101 to 106 metres: Five metres grading 0.0124 per cent uranium, 640 g/t chromium, 13.72 g/t gallium, 16.81 g/t lithium, 23.7 g/t scandium, 50.45 g/t vanadium, 10.18 g/t tellurium, 4.27 g/t tantalum, 16.45 g/t strontium, 3.90 g/t zirconium, 1 per cent calcium, 0.301 per cent magnesium, 0.0380 per cent manganese, 0.0151 per cent titanium, 0.0105 per cent phosphorous, 12.25 per cent sulphur and 21.77 per cent iron

From 118.5 to 129 metres: 10.5 metres grading 0.02 per cent uranium, 546 g/t chromium, 20.27 g/t gallium, 46.13 g/t rubidium, 27.63 g/t lithium, 11.55 g/t scandium, 33.40 g/t vanadium, 19.00 g/t tellurium, 6.36 g/t tantalum, 7.5 g/t strontium, 9.54 g/t zirconium, 9.72 g/t cerium, 7.31 g/t lanthanum, 1.86 g/t yttrium, 5.81 g/t cadmium, 0.360 per cent calcium, 0.701 per cent magnesium, 0.0632 per cent manganese, 0.0490 per cent titanium, 0.0178 per cent phosphorous, 16.92 per cent sulphur and 21.10 per cent iron

These drill results came from an area of the property known as the East zone No. 1 and shows excellent potential to host several times the mineralization identified to date as these highly mineralized zones are still open at both ends and at depth.

Hole No. 1 and hole No. 4 were drilled over 500 metres apart which now confirms a strike length of at least 500 metres and drill intersections from surface to a depth of 129 metres so far. This area will definitely need more surface stripping at both ends to fully define the actual strike length of this large mineral-rich structure and deeper drilling to test the depth extensions.

China calling

King's Bay Gold and Mainstream Minerals have also recently been approached by several Chinese mining entities that have expressed an interest in acquiring or partnering in some of the partners' projects. Discussions are at the preliminary stage and the partners will inform their shareholders if a deal or deals are struck.

The project is also host to other zones that have not been drilled yet.

East zone No. 2

Another area of significant interest is a shear zone that runs for six kilometres with a width of approximately 40 metres. Only one grab sample was taken from it to see if it carried gold and it yielded 2.811 g/t Au. This zone will need additional sampling and stripping.

North zone

This zone is approximately 30 metres wide and the strike length has not been established as of yet. Surface sampling has revealed that the mineralization in this zone consists of copper, nickel, cobalt, gold, silver, platinum and palladium. Additional stripping and sampling of this zone will also be needed.

Central zone

This zone appears to be a layered intrusive and again is large with a width of 50 metres and a strike length of approximately 700 metres. Surface sampling has revealed that the mineralization consists of cobalt, copper, nickel and silver. The borders of this zone have not been established as of yet either.

Surface sampling of the North and Central zones has yielded results as high as 2.192 per cent copper, 0.415 per cent cobalt, 0.393 per cent nickel, 0.1 per cent zinc, 9.60 g/t silver, 2.50 g/t palladium and 1.20 g/t platinum.

Uranium -- supply and demand

The main use of uranium in the civilian sector is to fuel commercial nuclear power plants. A persistent deficit between world U3O8 demand and the world's U3O8 mining supply has existed for close to two decades and inventories are steadily being depleted. As such, prices are expected to increase significantly in the future due to international supply shortages of uranium, along with escalating demand from nuclear programs in nations such as India and China. According to the World Nuclear Association there are official plans in the works worldwide for 349 new reactors (either under construction, planned or proposed). Governments worldwide are struggling for solutions to control greenhouse gas emissions and to produce affordable energy. Nuclear power is the cleanest, least expensive and most secure source of electricity. There are currently 439 operational nuclear reactors worldwide and that number is expected to grow significantly within the next decade. In the United States, which has 104 operational nuclear power plants providing approximately 20 per cent of the country's energy, reactors that have met the end of their normal 40-year operating licence are being granted extensions and the United States Department of Energy is actively providing incentives encouraging power corporations to apply for licences to build new reactors.

Rare metals and rare earth elements -- demand, uses and supply

Demand for rare metals and rare earth elements is soaring because of consumer demand for more fuel-efficient cars, alternative energy technologies such as fuel cells, the nuclear power industry for both practical and experimental utilization, rechargeable batteries, lasers, hydrogen storage, superalloys as used in the aerospace industry, computer chips, cell phones, digital cameras, plasma televisions, computer screens, permanent magnets as used in electric-hybrid vehicles and in the conductor industry for many of the new "green" technologies etc.

By some estimates, 30 per cent of the world's consumption of rare earths is related to cars, a figure that could grow as more consumers shift to hybrid vehicles, which typically contain more than 60 pounds of rare earth products.

China recently announced a reduction in the exports of REMs coming out of its mines, in part because the government in Beijing may be trying to encourage the development of more value-added processes at home. This decision will considerably reduce the supply for buyers outside of China while world demand is in full growth. The many plants in China are competitive, and that has traditionally kept prices low for overseas buyers in the past. But in recent years, the Chinese government has imposed tariffs and export restrictions that are causing concern for foreign buyers of the minerals. The potential bottleneck in supply is forcing some overseas buyers to consider shifting their own plants to China to ensure secure and cheap raw materials. And regardless of whether buyers move entire plants, prices will remain strong because of higher demand that China alone cannot meet.

The current situation, with China dominating the supply chain, is "unhealthy and unsound." Prices and demand are both expected to continue to rise drastically. It will soon become critical to produce these resources outside of China.

All these rare earths and metals have significant economic and strategic value. Some of these metals like rubidium and cesium, which are not actively traded, have each recently sold for as much as $100 (U.S.) per gram.

Sulphur and iron -- prices, uses and demand

In only a year, the price of sulphur has risen more than tenfold from $50 (U.S.) per metric tonne to $500 (U.S.), according to ICIS, the chemical-pricing service. Editor Stephen Burns writes to clients today that Mideast sellers have mentioned $900 (U.S.) per metric tonne as a minimum target for second-half sulphur contracts, with up to $1,000 (U.S.) possible. "Their position is based on higher spot prices since the start of this year and expectations that the sulphur market will strengthen even further as the year progresses," ICIS writes.

Demand for sulphur, long an ugly yellow waste product of petroleum refining, is surging because it is needed to make sulphuric acid, which in turn is essential to the production of fertilizer. Earlier this month, Purchasing.com reported that increased demand for sulphuric acid from booming agricultural and base metals markets has pushed the raw material price of sulphur through the roof in the United States while the U.S. market continues to see a long-term slowdown in sulphur supply from reduced production at oil refineries. The media spotlight on potash has made Canadians are somewhat familiar with this boom in the demand for components used in the manufacture of agricultural fertilizers.

Although iron prices are depressed at the moment at approximately $90 (U.S.) per metric tonne, industry analysts expect prices to return to above $100 (U.S.) per metric tonne in the first part of 2009 and then upward back to $150 (U.S.) per tonne once the global economy eventually recovers.

The Phyllis Lake property is also well situated for the mining of bulk ores such as sulphur and iron. It has a location advantage of being intersected by a railroad and is near the TransCanada Highway.

The earn-in joint venture agreement is 50 per cent King's Bay Gold and 50 per cent Mainstream Minerals with King's Bay Gold being the operator of the project.

Andrew Gracie, PhD, PEng, PGeo, is the qualified person under National Instrument 43-101. All of the samples herein were analyzed by Acurassay Labs. True widths are not known.

King's Bay and Mainstream Minerals are very pleased with the results of this successful initial drill program and are presently evaluating all of the data from this phase 1 program before commencing an aggressive phase 2 drilling program. King's Bay is also anxiously awaiting assay results from its 50-per-cent-owned high-grade gold and rare earths Bobjo mine project and its 100-per-cent-owned Sakoose gold mine project. Results will be announced when received and verified.

We seek Safe Harbor.