Skarn horizon and Nicholas-Denys porphyry at depth

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The second phase of drilling will include two (2) deep 500-600 meters holes located at the south and north contacts of the Nicholas-Denys felsic porphyry. Only limited shallow drilling program were directed in 2007 at these locations and deep holes are needed to better evaluate the entire potential of the Nicholas-Denys Porphyry system. Borehole geophysical surveys will be conducted in these holes.

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The First deep hole will be located south of the pluton near hole F07-04 near the Millstream Iron Deposit which intersected near surface copper-skarn mineralization grading 1.04% Cu, 0.3 g/t Au and 10 g/t Ag over 9.75 meters. The second hole will be located in the northern part of the intrusive near hole F07-09 which intersected persistent molybdenum mineralization grading 0.030% Mo over 93 meters including a richer zone of 0.074% Mo over 23.5 meters

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In 2008, a preliminary NI 43-101 compliant indicated mineral resource of 1M ounces of silver has been estimated over the central part of the Haché lens (50m x 100m) to a maximum depth of 125 meters from only 36 drillholes. Since the calculation, 84 new holes for 20,000 metres have been drilled on the Haché and Shaft lenses for a strike length of about 700 metres and to a vertical depth of 450 meters defining five new mineralized zones. In the last drilling program (2008), 22 holes over 84 holes (26%) intersected at least 90 g/t Ag over a minimum length of 3 metres of core. The drilling defined 5 new lenses in the Shaft area, over a strike length of 700 metres which represent only 10% of the favourable structure

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