February 22, 2008 Initiating Report
Ring of Fire MacDonald Mines Exploration Ltd. is a major participant in the so-called "Ring of Fire" area in the James Bay Lowlands of northern Ontario where Noront Resources recently made a significant and widely-publicized nickel-copper discovery. Five or six companies are expected to drill some 70-80 holes in the immediate vicinity, and a significant "hit" by any one of them should benefit all participants, including MacDonald Mines. The Noront discovery in September 2007 sparked a major staking rush in the region. MacDonald Mines has operated in the area since 2003, and had a significant first-mover advantage in the staking rush. Management immediately hired a helicopter and was staking the region the day after Noront's announcement. The Company's land holdings in the region amount to approximately 60,000 hectares, including both wholly-owned properties and p roperties held with partners
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