The Company announces that it had commissioned a Geological Report on its Heyson and Byshe Township Property located in the Red Lake area, Kenora Mining Division, Province of Ontario (the "HB Property").
An Evaluation Report dated December 13, 2002 on the HB Property was prepared by David J. Busch B.A., B.Sc. (hons.), PGEO. The report documents preliminary exploration results on the HB Property and recommended an exploration program consisting of diamond drilling, over burden drilling, till sampling and outcrop stripping at an estimated cost of $358,600. An initial phase of drilling based on the recommendations in this report is currently underway.
The Company entered into a working option agreement with ITL Capital Corporation ("ITL") dated May 14, 2002 whereby the ITL granted the Company the right to earn a 51% interest in the HB Property.
The Report has been filed on SEDAR and is available for viewing on the SEDAR website at www.sedar.com.
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