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Mining

SIGNIFICANT INDUSTRY ACTIVITY:

PRESS RELEASES: related to exploration activity

Avalon Ventures Ltd. (A) provided an update on exploration activity on the U6 Savant Gold Project located in the Savant Lake area. A program of detailed geological mapping, channel sampling and compilation of historical data was carried out in 2005 on the property. The results of the program confirmed the presence of an intrusion-related gold system and the structural controls on gold mineralization were determined. Highlights from the channel sampling included values of 2.72 g/t gold over 0.9 m and 3.15 g/t gold over 1.0 metres. These results came from a showing located peripheral to an interpreted major structure. A minimum 600 metre drilling program is planned to test this target in 2006 (press release, Avalon Ventures Ltd., January 30, 2006).

Conquest Resources Limited (B) announced that drilling is expected to commence by the end of January and will comprise approximately 1,200 metres in 6-10 shallow holes, depending upon ice conditions at the Kings Bay Gold Project at Sturgeon Lake. Drilling is planned to test up to six discrete magnetic targets believed to reflect the bedrock source of high grade gold boulders previously discovered in several well-defined boulder trains on the south shore of King Bay (press release, Conquest Resources Limited, January 19, 2006).

Gossan Resources Limited (C) has optioned the Alto-Gardnar Gold Property which along with additional staked ground encompasses approximately 800 hectares. The property is located in the Sandybeach Lake area, about 37 kms east of Dryden. Gossan geologists have taken 22 grab samples from various trenches on the Alto-Gardnar showing which assayed from 5ppb to 151.3gpt gold. Eight of these samples assayed in excess of 2gpt Au. In the early spring, Gossan intends to strip the overburden off the entire 250-metre length of the showing followed by detailed mapping and channel sampling. The shear zone and quartz vein system appear to be open at both ends (press release, Gossan Resources Limited., January 23, 2006).

Halo Resources Ltd. (D) announced that preparations are underway to commence the Phase II drill program on the Duport Property located 60 km west of Kenora,

The purpose of the drill program will be to:
 
- expand the existing resource by focusing on areas of structural complexity within the deposit for the discovery of high-grade ounces.

- test a number of airborne magnetometer and electromagnetic (EM) anomalies covering attractive geology within a short distance of Duport infrastructure.

A total of 28 holes representing 4700 m have been surveyed in preparation to commence the Phase II program. A portion of the Duport grid has been established, drill hole collar locations have been surveyed and site preparation is nearing completion (press release, Halo Resources Ltd., January 31, 2006).

Halo completed an airborne electromagnetic and magnetic survey 2,743 line kilometers of coverage at 50 and 100 meter line spacings between August 15 and September 2, 2005. The airborne geophysics survey has identified a number of high priority target areas. Each area contains single to multiple, short strike length, moderate to strong EM conductors. These targets will be the subject of a follow-up Phase II program.

The Duport deposit itself, shows a conspicuous EM response in the vicinity of two anomalous magnetic patterns. This correlates with drill data that suggest that Duport is located near a major contact between two lithologies and as such has been helpful in differentiating similar geological environments to this on the property. One of the objectives of the program was to identify additional, untested, Duport-style gold targets associated with altered shear zones containing sulphides related to fault structures, intrusive bodies and competency contrasts between differing lithologies (press release, Halo Resources Ltd., January 12, 2006).

Hinterland Metals Inc. (E) announced results from the Revell PGE-Au-Cu-Ni Project located near Dryden. Recent trenching exposed a 15m wide zone of coarse-grained disseminated chalcopyrite and pyrrhotite within a band of hornblende diorite. Grab samples of blasted outcrop returned up to 0.90g/t Au, 1.61g/t Pt, 0.66g/t Pd, 9.0g/t Ag, 1.12% Cu and 0.19% Ni. Hinterland has allocated $75,000 to complete an IP survey and drilling at this prospect in the first quarter of 2006. Line-cutting is currently underway (press release, Hinterland Metals Inc., January 17, 2006).

Houston Lake Mining Inc. (F) reported that technical crews are currently in the field preparing for blasting and trucking of a 1000 tonne bulk sample from the Angel Hill Gold Zone part of the West Cedartree Gold Project located near Sioux Narrows. The bulk sample is designed to test a portion of the AHGZ and is not intended to be representative of the entire inferred gold resource.

A preliminary program of IP geophysics will test the electromagnetic response of a 1.0-1.5km segment of each of the Angel Hill and McLennan Gold Zones. The IP survey is expected to begin in mid-February and be completed by the end of the month. A minimum of 1000m drilling program is expected to commence in early March. The program aims to delineate further gold resources on the AHGZ to depth and along strike to the south (press release, Rainy River Resources Ltd., January 31, 2006).


MetalCORP Ltd. (G) announced that drilling has commenced on the North Rock Copper-Nickel- Platinum (Cu-Ni-Pt) Property, located 25km east of Fort Frances, Ontario. This Phase 2 drill program will test the East Zone, which is the northeastern strike extension of the known Beaver Pond Zone, with at least sixteen (16) drill holes totalling approximately 3200 metres.

A recently completed airborne geophysical survey over the property detected a 1km long coincident airborne magnetic / EM anomaly associated with the East Zone. This may indicate the presence of massive sulphides and, therefore, possibly Cu-Ni mineralization. Prospecting and geological mapping this past summer and fall discovered significant new copper mineralization in several outcroppings at or near the East Zone. Grab samples from these showings returned values of up to 2.64% Cu, 0.33% Ni, 0.88 gpt Au, 7.80 gpt Ag, 1.15 gpt Pd and 0.81 gpt Pt. The discovery of significant Cu-Ni-PGM mineralization over the strong geophysical anomaly makes the East Zone a top priority target for the present drilling program (press release, MetalCORP Ltd., January 19, 2006).

Q-Gold Resources Ltd. (H) announced results from two additional surface veins sample from its fall 2005 trenching program at its Foley Mine Vein Complex near Mine Centre. The North Sulfide Vein yielded a weighted average of 1.19 g/t gold, 24.11 g/t silver and 0.38% zinc from 9 trenches. The "West Splay" of this vein yielded 0.78 and 8.81 g/t of gold and silver, respectively, and 0.46% zinc along an additional strike length of 114.35 meters.

The Golden Star Vein Complex historical is associated with thirteen quartz veins. A grab sample taken during last fall's exploration program, from a one-metre wide unexplored and unnamed vein, returned 6.17 g/t gold and 8.4 g/t silver. This vein complex shall be the subject of future Q-Gold exploration programs.

A new, significant style of mineralization has also been identified adjacent to the Corporation's Golden Star Mine Vein Complex, consisting of mineralized, sheared meta-volcanic rocks. A "grab sample" from a 5 meter wide shear zone in the meta-volcanics assayed 2.19 g/t gold and 1.63% copper. This discovery establishes the presence of high grade gold values and base metal mineralization in both felsic (siliceous) intrusive and meta-volcanic rocks, the two dominant rock types on Q-Gold's property at Mine Centre (press release, Q-Gold Resources Ltd., January 10, 2006).

Rainy River Resources Ltd. (I) reported results from an additional eight holes drilled during the 2005 fall drill program on its Rainy River Project. The project is centered in Richardson Township approximately 80 kilometres south of Kenora. A delay in reporting the results from the 433 Zone Extension (NR05-01 to NR05-04, NR05-07, NR05-08, NR05-14 and NR05-15) was due to high grade native gold in three individual core samples from NR05-03 and NR05-04. All three samples contained coarse visible gold in association with pyrite-sphalerite and lesser chalcopyrite suphide veinlets concentrated along late fractures.

NR05-03 intersects greater than 1000 g/t Au (32.15 opt Au) and 294 g/t Ag (9.45 opt Ag) over 0.50 metres (verbally communicated to be 1643 g/t Au using total metallics analysis)

- NR05-02 intersects 0.487 g/t Au over 208.55 metres

- NR05-04 intersects 6.01 g/t Au over 2.80 metres

- NR05-04 intersects two separate high grade gold intervals grading 26.00 g/t Au and 21.20 g/t Au over 0.50 and 0.76 metres respectively

The visible gold was associated with sulphide-mineral concentrations which are not dissimilar from adjacent sampled intervals that contain lower gold values. Although the scale and dimensions of the high grade intersections is not clearly understood, the higher grade zones appear to be concentrated along late fractures (press release, Rainy River Resources Ltd., January 05, 2006).

Rainy River Resources also reported the results for the final two holes of a seventeen (17) hole initial phase drill program, NR05-16 and NR05-17.

-NR05-16 and NR-05-17 intersected 1.58 g/t Au over 28.63 metres and 2.84 g/t Au over 29.50 metres respectively.

- Four holes, NR05-17, NR96-45, NR05-05 and NR05-16, have now defined a consistent gold-rich zone with accessory silver and zinc values for 180 metres down plunge.

These holes were designed to trace the down-plunge extent of the higher grade gold mineralized zone in the #17 Zone deposit (press release, Rainy River Resources Ltd., January 20, 2006).

Rainy River also announced that a 15,000 metre drill program is set to begin in late January on the Rainy River Project. The drilling program will focus on defining a NI 43-101 gold and base metal resource in the #17 Zone and continue to explore additional high priority gold targets defined from Rainy's recently completed 17-hole Phase I drill program. In addition a VTEM airborne magnetic and electromagnetic survey will be flown over Rainy's large land package during the first week in February (press release, Rainy River Resources Ltd., January 23, 2006).

Other Significant New Releases

Benton Resources Corp. announced the acquisition by staking of two new uranium properties in the Kenora District. The first property known as the Mainville Lake Property is located approximately 20 km east of the town of Fort Frances. The second project is known as the Bottle Lake Property and is located approximately 30 km west of the town of Dryden, Ontario (press release, Benton Resource Corp., January 25 2006).

Cabo Drilling Corp. announced the sale of Cabo's mineral properties to International Millennium Mining Corp (press release, Cabo Drilling Corp., January 12, 2006).

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