Third tranche issuance under Tomato Lake Option Agreement

February 17, 2004

The Company announces that it has issued 20,000 common shares in connection with the third tranche issuance under an Option Agreement dated January 15, 2002. Pursuant to the terms of the Option Agreement, the Company had been granted an option to acquire a 100% interest in and to the Tomato Lake Property located in McDonough Twp, Red Lake area, Kenora Mining Division, Ontario. The shares will be subject to a hold period and shall not trade before June 12, 2004.

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