Cayzor Athabasca Mines

Showing Name : Cayzor Uranium Mine (“17” ore shoot)
Mineral Resource Assessment: Past Producing Mine with Uranium Reserves.
Deposit classification: Shear Hosted Vein Type Basement Rock Associated U-Pb.
Deposit Status: Past Producer
Host Rock: Metasediment
Geological Domain: Beaverlodge

Between May 1957 and March 1960 the Cayzor Mine produced 187 tons of Uranium. The Eldorado Mill was closed due to the collapse of the Uranium Market.

The company purchased a group of 16 claims from Azor Mines Limited and from 1953-54 an extensive diamond drill program was carried out to evaluate the previously-discovered showing. In November 1954 shaft sinking commenced and a shaft was eventually sunk in excess of 900 feet with levels established at 170, 320, 445, 570, and 675 feet. No lateral work was done on the sixth level at 900 feet.

Rehabilitation and Environmental Concerns
According to the report “Saskatchewan Environmental and Resource Management”, which was published in March 2001. The area presents no immediate hazards at the present time.

Don Lake. SMDI #1393 Claim #107439

Showing Name: Don Lake Uranium Deposit or Don A, B, and C zones.
Deposit Classification: Shear Hosted Disseminated Basement Rock Associated Uranium
Deposit Status: Deposit - Reserves
Host Rock: Metamorphic
Geological Domain: Zemlak (Black Bay)

Zone A has intersected uranium mineralization along one main vein with a
known length of 700 ft (213.4 m) and that crosses the trend of a northeast striking lineament. Seven trenches and 19 drill holes have been completed over the zone and it is estimated that the zone contains possible reserves of 30,701 lbs of U308.

Zone B is considered to be a continuation of the A Zone.

Zone C occurs along a band of northwest-striking basic rocks.  Assays from trenches and drill holes returned from 0.03% to 3.02% U3O8/ton (0.025% to 2.56% U/ton).
Nineteen of these holes contained radioactive significant  values over mineable widths were intersected. The highest assay abtained was 10.7% U308 (9.08% U) from a 1 ft intersection in hole No.23. This hole is about 300 ft away from hole No.1, drilled by Eldorado in 1950, from which a 2 ft section averaging 2% U308 (1.7% U) is believed to have been obtained.

Consolidated Beta-Gamma Mines. SMDI #1394 Claim #107925

Showing Name: Beta Gamma Uranium Mine {Zones 1 and 2} 
Mineral Resource Assessment: Past Producing Mine Without Reserves U (See reserves) 
Deposit Classification: Shear Hosted Disseminated Basement Rock Associated Uranium 
Deposit Status: Past Producer
Host Rock: Metasediment 
Geological Domain: Zemlak (Black Bay)

In 1952, Beta Gamma Mines Ltd. (renamed Consolidated Beta Gamma Mines Ltd. in 1952) acquired the claims. They did prospecting on the claims and revealed 8 radioactive zones. The No.1 Zone on the Heron Shear was tested to a vertical depth of 60 ft (18.3 m) by drill holes spaced 100 ft (30.5 m) apart. At the same, time two holes were drilled into the No. 2 Zone. 
In 1953, further drilling was carried out and the results indicated further work was warranted. A 3-compartment shaft was collared between the Zones No. 1 and No. 2. Underground exploration was halted in March 1954 after the shaft had been sunk to 154 ft (46.9m) with 596 ft (181.7m) of lateral development work on the 134 ft (40.8m) level. 

Leonard Uranium Mine. Rix Athabasca #10 Adit

Showing Name: Leonard Uranium Mine, Rix Athabasca No. 10 Adit
Mineral Resource Assessment: Past Producing Mine Without Reserves U
Deposit Classification: Shear Hosted Vein Type Basement Rock Associated U-Cu-Pb
Deposit Status: Past Producer
Host Rock: Metavolcanic, Plutonic 
Geological Domain: Beaverlodge

The mine produce 77 tons (154,000 Ibs) of uranium between 1957 and 1960. The Leonard deposit was first explored underground in 1951 by a 3814oot adit driven along the largest vein but this work was suspended when attention shifted to the Smitty deposi in the following year. Renewed interest was shown in the 1955 and the ore shoot was mined above the adit level. Early in 1956 the adit was widened and an internal shaft was sunk with lateral development on the 125-th floor and 250-th foot levels. In 1959 the shaft was deepened to 360 feet and two more levels were opened up. Shipments of ore to the Eldorado mill commenced in March 1958 and continued until 1960 when the ore zone became depleted. It is believed that about 50,000 tons of ore grading 0.2 per cent and better were removed from the deposit. 

St. Michael Uranium Mine. SMDI #1409

Showing Name: St. Michael Uranium Mine 
Mineral Resource Assessment: Past Producing Mine With Reserves U
Deposit Classification: Shear Hosted Vein Type Basement Rock Associated Uranium
Deposit Status: Past Producer
Host Rock: Metavolcanic
Geological Domain: Beaverlodge

By 1957, 600,000 lbs of U308 were mined. Between 1968 and 1960, a further 70,000 tons of ore were shipped. Between 1952 and 1953, the showing area was covered by Lodge Bay Uranium Mines RAZ 5 fraction. Lodge Bay mapped the property (AF 74N10- 0155). In December 1954, St. Michael Uranium Mines Ltd. acquired ownership of a small group of 7 RAZ claims on which previous work by Lodge Uranium Mines had outlined four radioactive zones. Prospecting by trenching and surface diamond drilling done by St. Michael Mines during the period 1954 to 1955 obtained several encouraging results. 

Smitty Mine (Rix #27)
Poduced 436 tons (872,000 Ibs) of Uranium 

Showing Name: Smitty Uranium Mine or Smitty U Showing or Rix U Showing No. 27, Boom Lake Showing Adit or ‘62 Zone’, West U Zone (extension of the 62 Zone) 
Mineral Resource Assessment: Past Producing Mine Without Reserves U (See AF 7410-0333)
Deposit Classification: Shear Hosted Disseminated Basement Rock Associated
Deposit Status: Past Producer
Host Rock: Metasediment
Geological Domain: Zemlak (Black Bay)

A shaft was sunk late in 1952 and two levels were established on the 125 foot (38.1 m) and 250 foot (76.2 m) levels. In 1953, sufficient ore had been outlined to warrant production. A contract to ship ore to the Eldorado Mill was negotiated, and when Rix began shipment of ore at the rate of 100 tons a day in April 1954, the mine became the first privately owned Canadian uranium producer. 
 

New Hosco Mines Limited
Ford Lake

The Fold Lake area is underlain by a comformable sequence of quartzite, amphibolite, and garneriferouse gneisses. The sequence is strongly folded into broad open folds with steeply dipping limbs; the most prominent fold is a northeast-plunging syncline; the nose of which occurs just south of Fold Lake.
Fold Lake claim consists of at least five showings, three of which #86, #85 which are considered “with high grade potential or warranting further work. Seven channel samples cut across the vein gave an average grade of 0.49% and 0.9% for a length of 40 feet.

Exploration project
Gussie Mineral Claim Group

The Gussie group is located in the highly mineralized northeast-southwest trending belt containing the Boom Lake and Leonard faults, and along which are situated, within a few miles to the southwest the Cayzor, St. Michaels, Rix Smitty, and Rix Leonard former uranium producers. To the northeast lies the Don Lake group of mineral claims formerly held by Eldorado and now by Matrix, on which considerable exploration work was carried out this season. Several interesting mineralized zones have been established on the Don Lake property and 3,937 feet of exploratory drilling has been carried out on three zones.

Recommendations
Several factors contribute to the conclusion by the writer that the Gussie is an interesting property and deserves a comprehensive exploration program. The property is located very centrally in an established mineral province and along a structural belt containing much radioactive mineralization and along which are situated several old former producing mines. Structural deformation along this belt has allowed the development of much tensional fracturing and evidence of the type of mineralization associated with radioactive deposits in the district is widespread. On the property itself important structural lineaments such as faults and fracture zones exist, as evidenced by structural valleys seen on the property and also readily seen from air photos. A very limited amount of prospecting has turned up quit encouraging numbers of radioactive anomalies. The writer feels that a systematic and comprehensive exploration program should be carried out as the initial stage of exploration to evaluate the surface and shallow depth potential of the property

Summary
Work on the Gussie claims to date has included checking and cleanup of boundaries, chaining of old and new grid lines for control purposes, and some prospecting and checking of anomalies on the property.
• A relatively large amount of mineralization has been found in a short period of exploration during the fall season, including old and new showings. Study of all available material has shown that the property is located in a mineralized belt in which structural conditions have been generally favorable for concentration of important radioactive deposits.
• A systematic and comprehensive exploration program should be carried out to establish the surface and shallow - depth mineral potential of the property as an initial evaluation stage.
 

This presentation contains certain forward-looking statements that involve known and unknown risks and uncertainties. Consequently, actual results, performance and/or achievements could differ materially from the expectations expressed in these forward-looking statements. There can be no assurance that future developments affecting the parties herein will be those anticipated by management. While we may elect to update these estimates at anytime, we do not undertake to update an estimate at any particular time or in response to any particular event.