1. Magnet Mine Property

Acquired in 1980, Roxmark’s 100% interest in the Magnet Mine property (formerly held by Magnet Consolidated Mines Limited) consists of 27 mining claims under a 21-year renewable lease covering 974 acres located in Errington Township. Also included in the 27 mining leases are a total of 19 claims covering 812 acres which includes surface rights to leases on the property.

The Magnet Mine property is equipped with headframe, production hoist, compressors, certain mining equipment, generator, hydro substation, shop, dry, office, etc. The mine was inactive since 1988.

The property produced 152,000 ounces of gold from 360,000 tons for an average grade of 0.42 oz. in gold per ton. The mine is serviced with a shaft and winze to 2,640 feet depth.

Roxmark drilled an exploratory hole from the shaft station at the 11th level south through the Bankfield Tombill Fault. It encountered a high grade intersection averaging 1.32 oz. in gold over 4.4 feet. The intersection will be followed up by drilling from the mine workings west on the 11th level and east of the shaft on the 7th level. This zone will probably surface on the Company-controlled McLellan Joint Venture property. This intersection is not included in the potential resources. The mine was inactive since 1988.

Little Longlac Mine Property

In 1995, Roxmark acquired from Algoma Steel Inc. the Little Longlac Mine Property, which consists of 39 patented mining claims and licensed occupation leases on 1,538 acres in Errington and Ashmore Townships. The property is under a 99-year lease from January 1, 1974 and produced 605,000 ounces of gold from 1.8 million tons at an average recovered grade of 0.34 oz. in gold per ton. Development included a shaft and winze to a depth of 3,950 feet.