UPDATE "The dotted black oval, applied to the SGH Pathfinder Class maps on page 19, outlines an area where the SGH data predicts the outer boundary of a potential VMS type target. The plan map on the left on page 19 is an SGH Pathfinder Class map for VMS that is expected to exhibit an apical anomaly while the SGH Pathfinder Class map on the right is expected to show a corresponding halo anomaly. The dotted black oval around the apical anomaly on the left hand Pathfinder Class map nicely supports the halo anomaly on the right hand Pathfinder Class map at Lines 37-38. This type of confirmation is expected and is part of the SGH signature for over VMS type mineralization. This is also excellent confirmation of the interpretation of the presence of a REDOX cell which is also often indicative of the presence of buried mineralization and bacteriological activity. Other SGH Pathfinder Class maps (not shown) also agree on the assignment of this interpretation. The highest response for the central apical anomaly on the left hand SGH Pathfinder Class map thus represents the most probable location of a vertical projection over the centre of the target at depth...." Click here to see news release

Land Position

• Staking 8,816 hectares (88 square kilometers, 21,785 acres or 34 square miles)
  
  
• The Sturgeon Lake region has good road access and infrastructure
  
  
• Located approximately 25 km east of the Sturgeon Lake mining camp district
  
  
• Sturgeon Lake is approximately 60 km north of the Trans Canada Hwy 17 at Ignace, Ontario, Canada
  

History

• District known for its Volcanogenic Massive Sulphide (VMS) ore deposits
  
  
• The site of six known high grade zinc-copper-silver ore deposits with associated lead and gold - producers until the early 1990's
  
  
• The best known producers were the Mattabi and Sturgeon Lake Mines
  
  
• Little corporate exploration conducted in the district after 1992
  
  
• A Provincial Government geophysical survey in the early 1990's identified extensive zones of multiple sub-parallel and stacked sulphide-bearing conductors
  
  
• Many of these sulphide-bearing conductors extend into the Company's 8,816 hectare property as massive sulphide lenses that cumulatively exceed 100 km of strike length on the property
  
  
• Overlooked in the past due to minimal outcrop exposure, and absence of modern highly effective geophysical and geochemical survey techniques
  
  
• As a result past drilling is minimal to non-existent over most of the property
  
  

Exploration Plan

• Conduct a high-resolution VTEM ("Versatile Time-Domain Electromagnetic") survey at 100 meter line spacing, for a total of up to 1,000 line kilometers
  
  
• VTEM will be used to isolate zones of maximum sulphide accumulation along an approximately 27 kilometer belt within the property
  
  
• The best VTEM targets will be followed up with detailed ground geological work and state-of-the-art geochemical surveys
  
  
• Excalibur will review the results of exploration and drill the optimum targets