Baffin Gold Project Technical Summary, Dec. 2007

The Baffin Gold Project is a new gold district in the early stages of exploration and has demonstrated good potential for one or more shallow high grade gold deposits. Gold discovered thus far has been largely free gold indicating the potential may exist to process ore on site without the requirement to produce and ship concentrates.

Ridge Lake Zone     Malrok Zone     Brent Zone     Other Prospects

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INTRODUCTION

The principal exploration target on the Baffin Island Property is an iron formation-hosted gold deposit similar to the Proterozoic iron formation-hosted Homestake gold deposit in South Dakota, USA. Exploration by Commander Resources Ltd. from 2003 to 2006 resulted in the discovery of 16 gold occurrences over a strike length of about 140 kilometres.

The project is located in central Baffin Island within the Qikiqtaaluk region of Nunavut. The nearest community to the property is the Inuit hamlet of Clyde River located approximately 160 kilometres northeast of the project area. Iqaluit is the nearest full service community and is located approximately 600 kilometres to the south. Supplies can be brought into both communities by barge during the summer months and air transported to camp.

Access to the property is via fixed wing aircraft from Iqaluit or Clyde River to a 4000ft maintained airstrip at the Dewar Lakes North Warning System radar station (Fox 3). A second North Warning System radar station is located on the west coast at Longstaff Bluff (Fox 2). Both the Fox 3 and Fox 2 site can be serviced with heavy cargo aircraft (HS-748, DHC-5 Buffalo, and Hercules etc.). During winter and spring, ice strips can be constructed on any number of the larger lakes across the property.

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PROPERTY GEOLOGY

The property covers the southern rift margin of the Piling Group, a sequence of Lower Proterozoic (ca. 1.9 Ga) supracrustal rocks that form part of the Foxe Fold Belt. The Bravo Lake Formation of the Lower Piling Group is the principal unit of economic interest on the property and is host to the sixteen known gold occurrences including Malrok, Ridge Lake, Durette, Brent and the Gabbro shear zone. The Bravo Lake Formation is comprised predominantly of mafic volcanic and intrusive rocks, with clastic metasedimentary rocks and lesser iron formation and sulphidic schist. These rocks were complexly deformed by thrusting, at least 3 phases of folding, and upper amphibolite grade metamorphism.

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GOLD MINERALIZATION

Diamond drilling and surface exploration at Ridge Lake and Malrok identified at least two separate sheared and mineralized iron formation units within the target Bravo Lake Formation: the upper "silicate" iron formation and the lower "sulphide" iron formation. Gold mineralization in both horizons occurs predominantly as free gold and is associated with arsenopyrite in silicified and quartz veined iron formation. At Durette, gold is associated with a quartz vein stockwork system hosted by highly silicifed iron formation interpreted to be higher in the stratigraphic succession.

The Brent Shear Zone cuts the stratigraphy at a higher level above a regional sulphide iron formation marker unit.

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