Dorset Property

On October 25th, 2010 the Company announced that it acquired an option to earn a 100% interest in the Dorset gold property located in northern Newfoundland, Canada from Tenacity Holdings Ltd. ("Tenacity") of St. John's, Newfoundland.

The Dorset property lies approximately 7km west southwest of Rambler Metals & Mining PLC Ming Mine Project and 10 km southwest of Anaconda Mining Incorporated’s Pine Cove Gold Mine. The Dorset Property is comprised of eight mineral licences encompassing 69 claims totalling 1725 hectares in area.

History

The Dorset property covers 12 kilometers of strike length along the ‘Baie Verte Line’ crustal suture prospective for gold mineralization in Newfoundland. The property includes the original Dorset showing discovered in 1988 which assayed up to 408 g/t gold in a grab sample followed by representative channel samples from surface trenching of 177 g/t gold over 0.35 meters; 56 g/t gold over 2.5 meters, and 42 g/t gold over 1.5 meters over a strike length of 150 meters.

Gold discoveries in the mid-1990’s along strike over the 12 km property length include grab samples from outcrop of 10.9 g/t gold, 18.7 g/t gold, and panned concentrates up to 6.2 g/t gold in locally-derived till. None of these have been followed up by diamond drilling or trenching.

Work Plan

A detailed compilation of Dorset property geological, geophysical, and drilling information is underway. A program of field mapping and prospecting began in January 2011 to define drill targets, with the intent to begin a diamond drill program in the spring of 2011.