Work History

In the early 1900's following the discovery of silver in Cobalt (Ontario), 75 km to the west, the property and the nearby area was explored but little to no records were published until the discovery of the Belleterre lode gold deposit in 1933. The earliest records of exploration activity on the Belleterre Project date back to 1936.

This first recorded work was performed by Vantage Mines Limited. Work continued to be executed on the property in a rather constant but sporadic manner up until 2005. The lack of unified vision was in part due to the specific previous claim situation. The previous work recorded comprises prospecting, geological mapping and sampling, geophysical surveying, trenching, diamond drilling and bulk sampling in one instance. It is however striking to observe that, given the potential expressed on surface by the numerous gold occurrences, very little systematic drilling has been performed.

In July 2005, a NI 43-101 Technical Report was prepared for the Blondeau-Guillet Property on behalf of Niogold. A review of the historical work indicates that known gold occurrences are in excess of ten and the auriferous mineralization is associated with quartz veins, shear zones and iron formations.

One of these occurrences, Vein # 1, a quartz vein with a width varying between 0.6 m and 1.5 m, has been the object of very encouraging surface historical work, the highlights of which include:

• Chip samples grading up to 67.21 g/t Au over 1.22 m on Vein # 1 North.

• Mini-bulk samples (up to 27 kg) reporting bonanza grades of up to 117.85 g/t Au and 378.22 g/t Ag on Vein # 1 and Vein # 1 North.

• A bulk sample from Vein # 1 of 4,253 short tons yielded 406.75 ounces of gold. This reports an average grade of 6.56 g/t Au with an 80% mill recovery.

• Six short holes have been reported on Vein # 1 and Vein # 1 North with intercepts of 24.26 g/t Au over 0.37 m and 19.28 g/t Au over 0.70 m in two of them.

The compilation work provided in the NI 43-101 Technical Report also indicates a potential for base metal VMS-type mineralization and for Ni-Cu magmatic-type mineralization.

A stripping program was undertaken by SearchGold in the fall of 2004 on the Lake Chevrier property and the east and west stripped areas were exposed. An important quartz bearing zone up to 20 m in width and composed of veins and oriented quartz stockworks was uncovered in stripped area west and channel sampling results yielding anomalous values up to 0.17 g/t Au. Some higher values were returned from old trenches located 30 m north of stripped area east and grades of up to 16.22 g/t Au were obtained.

A diamond drilling program targeting Vein # 3 on the Lake Chevrier property was executed during the 2005-2006 winter season. A total of 13 short holes totalling 1,129 m were drilled to test the continuity and grade of the vein over a strike length of 250 m and at a maximum vertical depth of 65 m the program and returned encouraging gold grades at depth with intersections of 18.21 g/t Au over 0.33 m and 16.81 g/t Au over 0.40 m.

Following the acquisition of the Blondeau-Guillet option, a surface mapping and sampling program was executed in the area of Vein # 1 and Vein Chief in the summer of 2006. In the fall 2006, a diamond drilling program targeting the Vein # 1 area and a one kilometer strike length of a favorable west-north-west gold corridor defined by Vein # 1, Vein # 3 and the Road-cut / Boudrias surface gold occurrence was executed on the Lake Chevrier and Blondeau-Guillet properties. The program consisted in 24 holes totalling 4,000 m and a total of 10 diamond drill holes were executed in the sector of Vein # 1 to target the down dip extensions and characterize the vein geometry. The highlights of these holes are:

• 3.35 g/t Au and 10.20 g/t Ag over 0.80 m from 16.00 to 16.80 m in hole BE-06-08

• 4.64g/t Au and 11.90 g/t Ag over 0.70 m from 17.17 to 17.87 m in hole BE-06-09

• 3.75 g/t Au and 11.80 g/t Ag over 1.09 m from 23.82 to 24.91 m in hole BE-06-04

The remaining 14 holes of the program targeted the west-north-west gold corridor over a strike length of 1 km. Numerous quartz veins were intersected but no significant assays were reported. A noticeable background for base metals was however noticed as numerous samples intervals reported values in the range of 0.1% to 0.2% Cu and Zn.