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Message: Historical drilling data would increase gold estimate

Historical drilling data would increase gold estimate

posted on Aug 03, 2009 12:19PM

Verification of historical drilling data on Ontex’s gold deposit would favourably impact an increase on the current resource estimate.

HISTORICAL OPEN PIT POTENTIAL: Not included in March 2009 - 43 101

1934-5, limited drilling by Connell Mining.

1944, Noranda Exploration Company Limited conducted surface exploration that included detailed mapping, trenching and 6100’ of drilling in 40 holes. Noranda’s drill holes ranged between 50’- 170’ in depth.

1974, Lynx Canada Exploration carried out surface mapping and a magnetometer survey on the eastward extension of the Noranda open pit showing, and the following year completed 6 drill holes totalling 1200’.

The verified Ontex Database (43 101@ March 25, 2009) supports the current 853,000 oz/Au resource estimate.

Verification of historical drilling data on Ontex’s gold deposit would favourably impact an increase on the current resource estimate.

Gold: US $ 961.40 + $6.90

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