UPDATED FEB-20-08

CAUTIONARY NOTE TO U.S. INVESTORS


Mineral Resources

PROJECT

Cut-Off
Grade
(g/T)

Measured

Indicated

Inferred

Tonnes
(000's)

Gold
Grade
(g/T)

Ounces
Gold
(000's)

Tonnes
(000's)

Gold
Grade
(g/T)

Ounces
Gold
(000's)

Copper
Grade
(%)

Copper
(million
pounds)

Tonnes
(000's)

Gold
Grade
(g/T)

Ounces
Gold
(000's)

Copper
Grade
(%)

Copper
(million
pounds)

KSM

0.50 gold equiv.

                         

Mitchell(1)

--

--

--

734,163

0.69

16,287

0.18

2,913

667,421

0.62

13,304

0.15

2,206

Kerr(2)

--

--

--

206,272

0.25

1,651

0.45

2,037

51,387

0.21

352

0.45

506

Sulphurets(2)

--

--

--

74,655

0.75

1,798

0.24

388

33,636

0.62

675

0.20

147

     Totals

 

 

 

 

1,015,090

0.61

19,736

0.24

5,338

752,444

0.59

14,331

0.18

2,859

Courageous Lake(3)

0.83

6,293

2.92

591

53,020

2.14

3,648

--

--

93,720

1.98

5,966

--

--

Noche
Buena (4)

0.30

--

--

--

26,590

074

633

--

--

18,555

0.61

364

--

--

Grassy
Mtn(5)

0.55

--

--

--

18,657

1.54

924

--

--

1,722

1.10

61

--

--

Quartz
Mtn(6)

0.34

3,480

0.98

110

54,330

0.91

1,591

--

--

44,800

0.72

1,043

--

--

Red Mtn(7)

1.00

1,260

8.01

324

340

7.041

76

--

--

2,079

3.71

248

--

--

Castle/
Black
Rock(8)

0.25

4,120

0.57

75

8,260

0.53

140

--

--

7,950

0.37

93

--

--


(1)

See news release dated February 20, 2008
(2) See news release dated January 10, 2008
(3) See news release dated January 9, 2007
(4) See news release dated January 28, 2008
(5) See news release dated May 1st, 2007
(6) See news release dated April 17, 2002. The Issuer's 100% interest in the Quartz Mountain Project is subject to the terms of an option agreement with Quincy Gold Corp under which Quincy can earn up to a 62.5% interest in the property.
(7) See news release dated February 17, 2005
(8) See news release dated October 10, 2000