The Discovery Zone

Since initial testing in 1998 over 300 diamond drill holes have been completed on the Fenelon project with approximately 90% of the drilling being confined to the Discovery Zone area of that 95% being completed above the 100 metre vertical level.

Drilling has to date intersected high-grade gold mineralization for slightly over 300 metres along strike in the Discovery Zone, over an aggregate width of approximately 40 metres and to vertical depth of 150 metres. The Zone remains open to depth and drilling completed in 2006 indicated potential along strike extensions of the high-grade gold mineralization an additional 300 metres northwest of the deposit at shallow depths.

High-Grade Fenelon Core

A number of historic and NI 43-101 compliant resource estimates have been completed on the Discovery Zone, most recently in 2005 following the last major drill campaign on the property. The majority of these studies have focused on shallow resources above the 100 metre vertical level and all have indicated average gold grades well in excess of the average production grade for the Abitibi. None of these resource estimates are considered current to the Company and the Company is therefore prohibited under Canadian securities regulations from publishing these results including those which are NI43-101 compliant. The Company anticipates completing an updated resource estimate for the Fenelon project during late 2011 or early 2012.

The cross section below, taken from the central portion of the Discovery Zone, demonstrates the high-grade nature of the Zone. Only analysis from the 2004 underground exploration program are displayed as they are considered most representative of the grades and thicknesses associated with the Zone, however surface drilling has demonstrated equally impressive grades ranging from the 3.2 to over 800 g/t gold in individual samples.

Fenelon 1040 Section

FAB-11-10 High Grade Zone
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