but please take everyone's advice and perform your own DD.

This question has been a challenge to snoop out and attempt an answer. This is what I have been able to determine from the facts as I read them are hidden between the lines of several NR’s.

From the 09/14 news release:“To date UC and Spider have expended in excess of $9 million on the project, of which 54 drill holes totaling approximately 17,000 meters have been drilled on the McFauld’s #1 and #3 occurrences”.

From the 10/23 News Release: The current program was funded entirely by UC Resources Limited, in compliance with their funding obligation for the project. UC has an option to earn-in up to a 55% undivided interest in the McFauld’s Lake project, which is currently owned as to an undivided 50% interest, by each of Spider and KWG, as per the binding LOI signed in early March 2007. UC is the operator of the property during the term of their option. “UC during this phase of exploration expended approximately $1.0 million to complete their initial earn-in on the property”

Also from the 10/23 NR:

“A total of 2,354 meters was drilled in 7 holes, results have now been received for the seven hole”.“To date, 10 isolated VMS occurrences have been identified and drill tested on the project, two of which (McFauld’s #1 and #3) have undergone detail drilling”.

So my conclusion is that KWR and SPQ drilled 47 holes on both the McFauld’s east and west plays prior to the 2007 option in agreement with UC. UC “detail” drilled 7 holes on McFauld’s east #1 and #3 for $1 million and intersected viable mineralization as detailed in the NR’s

Things got a bit weird after 10/23. Hamelin resigned, we missed the cutoff for TSX-V financials and were halted. Jim Voisin took over as president. Neil Novacs resigned as VP exploration and Michael Roy joined the BoD. The continuity of the 2007 drill season was disrupted but not before UC claimed their first year buy-in.

From AG forum news earlier this week I believe that Neil Novacs (now VP at Noront, President of SPQ, and President and CEO of Billiken Management) and Jim Voisin will be getting together next week and Jim will be “pitching his ideas” about the 2008 winter drill season which is arguably half over.

So what will be the plan?

Also from the 10/23 NR: "UC is reviewing this project area and are currently planning a program to continue their exploration efforts on the other McFaulds VMS occurrences, while also looking for Noront look-alike anomalies in their vast land package that has been acquired covering a total of ten other VMS occurrences in the area through year two, three and four of the option earn-in agreement. "We have recently received the initial assays and are excited, that these results are well in line with the historical results of Spider and KWG. These results will be incorporated into an estimate of resource potential report for the two massive sulphide zones that have already undergone historical drilling; we will include the current drilling. The resource will be updated as the drill program progresses over the remainder of the field season.”

To me this sounds like they would continue detail drilling on McFauld’s #1 and #3 with the intent of creating a 43-101 for those sites. It also sounds like they may detail drill McFauld’s west #8, #9 or #10. UC lent their drill to Noront after 10/23 who may have retired it (I know that one of the drills they were using is broke) They have two new drills, so perhaps it is the surviving unit that can be put back into service for UC. Jim had responded to an earlier inquiry on this board that Noront has one available that they may use or they may get another one going c/o Billiken Management.