MASSAKOUNDAEXPLORATION PERMIT

TECHNICAL REPORTA P R I L 2 0 0 7

Carolyn Higgins Mineral Deposits Limited For Sabodala Mining Company (SMC)

TABLE OFCONTENTS

1. SUMMARY……………………………………………………………………………………………………………..1 2. INTRODUCTION…………………………………………………………………………………………………….…2 3. PROPERTY DESCRIPTION AND LOCATION……………………………………………………………………….….2 4. ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY…………………….…3 5. HISTORY……………………………………………………………………………………………………………….4 6. GEOLOGICAL SETTING……………………………………………………………………………………………......5

6.1 Regional Geology…………………………………………………………………………………………………..5 6.2 Mako Supergroup…………………………………………………………………………………………………..6 6.3 Massakounda Geology……………………………………………………………………………………………..7 6.4 Structure……………………………………………………………………………………………………....…….8

7. DEPOSIT TYPES………………………………………………………………………………………………...………8 8. MINERALISATION……………………………………………………………………………………………...……….8 9. EXPLORATION………………………………………………………………………………………………...………..9

9.1 Aeromagnetic and Radiometric Survey………………………………………………………………...………….9 9.2 Remote Sensing Data Acquisition……………………………………………………………………...………….13 9.3 ASTER Imagery Data Acquisition……………………………………………………………………....…………...14 9.4 Geophysical Interpretation…………………………………………………………………………...……………15 9.5 Ground Mapping and Sampling……………………………………………………………………...……………15 9.6 Geology and Regolith Mapping……………………………………………………………………..……………..15 9.7 Soil Sampling………………………………………………………………………………………..……………....16

10. DRILLING…………………………………………………………………………………………….…………………17 11. SAMPLE PREPARATION, ANALYSES AND SECURITY…………………………………………….…………………..17 12. INTERPRETATION AND CONCLUSIONS……………………………………………………….……………………...17 13. RECOMMENDATIONS……………………………………………………………………….…………………………18 14. REFERENCES……………………………………………………………………………….…………………………...18

LIST OF FIGURES Location – Sabodala Project……………………………………………………………………………………………..1 Permit holdings in south Eastern Senegal………………………………………………………………………………3 Rangold Souroumdou Permit area geology…………………………………………………………………………….4 Rangold Souroumdou Permit area Targets……………………………………………………………………………..5 Regional Geology………………………………………………………………………………………………………..6 Massakounda – Interpreted Solid Geology and major faults…………………………………………………………..7 Airborne Geophysics TMI image………………………………………………………………………………………...10 Airborne Geophysics TMI image first vertical derivative……………………………………………………………….11 Airborne Geophysical Survey - Total Count Radiometrics……………………………………………………………...12 Landsat7 Image of Massakounda Permit………………………………………………………………………………..13 ASTER VNIR 321 image…………………………………………………………………………………………………...14 ASTER LR 764 Stretch Image……………………………………………………………………………………………..14 ASTER VNIR 742 Stretch Image…………………………………………………………………………………………..15 Bodiara Geological Mapping…………………………………………………………………………………………….16 Bodiara Soil Sampling……………………………………………………………………………………………………17

LIST OF TABLES Co-ordinates of the perimeter as written on page 35 of the Rokamco Convention……………………………………2 Co-ordinates as written in the Rokamco Arrete………………………………………………………………………….2 Massakounda permit actual co-ordinates………………………………………………………………………………..2 Summary of mineralisation for the Sabodala Belt (Source: Randgold Resources, Senegal)……………………………8

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1. SUMMARY

The Massakounda permit is located in south-eastern Senegal, approximately 650km from the capital city of Dakar. The permit is located 25-30km north of the planned Sabodala Gold Mine, also owned by Sabodala Mining Company (SMC). The Massakounda Exploration Permit was granted to Rokamco SA (Rokamco) on 31 January 2005. SMC entered into a Joint Venture agreement (JV) with Rokamco on 21 July 2005. Ministerial Approval was granted on 18 August 2005 (Appendix 1). SMCs Exploration Budget to 30 June 2008 is US$556,800. SMC’s expenditure to 31 March 2007 is US$153,948 SMC has completed a first pass assessment of the Massakounda Exploration Permit area based on both field reconnaissance (Ian Moody, Lamine Sy, Chris Young) and remote sensing data including aeromagnetics, radiometrics, DTM and Aster Landsat (David Isles, Ian Moody, Chris Young, Leigh Rankin).

Location – Sabodala Project

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2. INTRODUCTION

This document has been prepared to detail all of the known technical information and work, covering the Massakounda permit. The Qualified Persons responsible for the preparation of this report include: Chris Young and Carolyn Higgins.

3. PROPERTY DESCRIPTION AND LOCATION

The Massakounda permit was granted to Rokamco SA (Rokamco) via Arrete no 202/MEM/DMG dated the 31 January 2005. It covers an area of 248km2. The corner point co-ordinates of the Massakounda permit are listed in the tables below. Note there was a government (DMG) alteration to the granted corner points. Co-ordinates of the perimeter as written on page 35 of the Rokamco Convention:

Points Latitude (North) Longitude (West) A 13° 40’ 00” 12° 11’ 00” B 13° 40’ 00” 12° 02’ 30” C 13° 28’ 00” 12° 00’ 00” D 13° 28’ 00” 12° 11’ 00”

*Adindan (Clarke 1880) Datum Co-ordinates as written in the Rokamco Arrete:

Points Latitude (North) Longitude (West) Comment A 13° 40’ 00” 12° 11’ 00” B 13° 40’ 00” 12° 02’ 30” Intersection with Faleme C 13° 35’ 47” 12° 00’ 47” Intersection with Faleme D 13° 23’ 00” 12° 11’ 00” E 13° 26’ 30” 12° 06’ 30”

*Adindan (Clarke 1880) Datum Plotting of the boundaries to match other existing permits and the Faleme River gives the following actual co-ordinates: Massakounda permit actual co-ordinates:

Points Latitude (North) Longitude (West) Comment A 13° 40’ 00” 12° 11’ 00” B 13° 40’ 00” 12° 03’ 07” Actual intersection with the Faleme

River C 13° 35’ 38” 12° 00’ 53” Actual intersection with the Faleme

River E 13° 26’ 30” 12° 06’ 30”

*Adindan (Clarke 1880) Datum The terms of the Rokamco JV include:

• Expenditure of US$200,000 within Permit’s initial 3 year term to confirm 51% • Expenditure of US$500,000 within next three-year term to confirm 80% • Expenditure of US$100,000 (no set period) to dilute Rokamco to 10%, at which time its interest automatically reverts to a 2% royalty.

Under the terms of the JV, the Expenditure Commitment, evidenced by Ministerial Approval for the JV became:

• US$200,000 in the first three years • US$1,000,000 for drilling and feasibility in the next three years.

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Permit holdings in south Eastern Senegal

4. ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY

The Massakounda permit is located in south-eastern Senegal, approximately 650km from the capital city of Dakar. The permit is located 25-30km north of the planned Sabodala Gold Mine, also owned by SMC. Senegal is located on the western extremity of North Africa. The Senegal region lies within the Sahel, the semi desert or savannah region that forms a broad band across Africa between the Sahara desert to the north and the forested countries to the south. The landscape of the country is generally low, rolling, plains rising to foothills in the southeast, with the only significant hills being in Senegal’s far southeast corner and along the border with Mali. The countryside as a whole rises in RL as one moves inland to 300 to 400m with the maximum peak height of 564m in the far south east. Access to the project area from the regional centre of Tabacounda is via a good regional all-weather sealed road 230km south east to Kédougou, then some 100km of minor sealed and laterite-surfaced roads. There is a 1,250m sealed airstrip at Sabodala capable of handling light to medium sized aircraft. SMC has an exploration camp (and will be constructing a mining camp) located on the Sabodala lease, located 25-30km to the south. The southeast inland area of Senegal is tropical with a distinct wet and dry season. The wet season is from May to October, with most of the rain failing during August and September. The dry season is from December to April, with generally zero rainfall. The annual rainfall in the Kédougou area ranges between 746 and 2,170mm with a long-term average of 1,240mm per year. The Harmattan is a dry win that blows from the north, usually from December to February. During this period the skies of most of West Africa are grey from Saharan sand carried by the wind, and even when the wind stops blowing skies remain hazy until the first rains fall. In Kédougou the monthly average maximum temperature ranges from 31°C to 40°C, with the hottest months being March to May. The monthly average minimum temperature is from 17°C to 26°C in December and January.

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5. HISTORY

The permit “Souroumdou” initially owned in 1995 by Randgold covers the eastern part of Massakounda’s perimeter. It is centred on the Mako Volcanics, which are composed of bimodal volcanic and volcano sedimentary rocks on a gneissic basement, intruded locally by intrusive granitic bodies.

Rangold Souroumdou Permit area geology Preliminary work carried out by Randgold on the Souroumdou permit included:

• Geophysics airborne (radiometric and aeromagnetic) • Stream sediments sampling • Geological mapping, using geophysics. This map shows the following geological units:

o Basalt with an andesitic tendency; o Volcano-sedimentary and sometimes altered and sheared tuffs; o Porphyry quartz and rhyodacites; o Granite o Gabbro-diorites

Three major shear structural trends were highlighted:

o N40-N60° becoming NS (Falémé fault); o N80° caused by a dextral fault; o N300-330° in relation to the intrusive complexes.

Randgold followed up the best of its stream sediment geochemistry anomalies in Souroumdou. For example the Nyeniko site which is near the perimeter of Souroumdou was trenched, including two trenches with the following results:

• TNY1 (105m): 43m @ 3.8g /t (including 9m @ 16g/t) • TNY4 (100m): 50m @ 1.1g/t (including 8m @3.9g/t)

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Rangold Souroumdou Permit area Targets Randgold focussed its exploration in the eastern portion of their Souroumdou permit in the vicinity of the Heremokono and Nyeniko prospects and little exploration was carried out on the greenstone units in Massakounda.

6. GEOLOGICAL SETTING

6.1 Regional Geology

The Massakounda permit is located within the Senegalese portion of the Kédougou-Kenieba Inlier (a major Proterozoic – Birimian Inlier) along the NE margin of the Archaean Leo Man shield. Within the Inlier metamorphic grade attains greenschist facies, with formation of metamorphic biotite and locally amphibolite grade near major intrusions. The Inlier is bounded on its western side by the Hercynian Mauritanides mobile belt (considered to be Panafrican in age), and on

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all other sides by flat-lying Neoproterozoic-Cambrian sediments of the Taoudenni Basin. Lateritic weathering combined with duricrust formation is considered to be still active and laterite has developed since the Cretaceous. The terrain is largely laterite covered. The Kenieba Inlier in Senegal is interpreted as an accretion of north-easterly trending Birimian age volcanic terrains. The Inlier is divided into three main stratigraphic units. The western-most one is called the Mako Supergroup (Saboussire Formation in Mali), and hosts the Sabodala deposit within a north-trending zone of intense shearing and silicification, associated with gold and minor sulphide mineralisation. The Dalema Supergroup (Kofi Formation in Mali) and the Diale Supergroup (Keniebandi Formation in Mali) make up the remaining stratigraphic units.

Regional Geology

6.2 Mako Supergroup

The Mako Supergroup forms a tectonised NE trending belt that rotates to the NW near the Mali border (north). Typical lithologies include pillow basalts, frequently carbonate-altered and minor intercalated volcaniclastics, high magnesium basalts or komatites, ultramafic (pyroxenite) sub-volcanic intrusions and numerous relatively small massive biotite and amphibole bearing granitoids.

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6.3 Massakounda Geology

The Massakounda permit covers a sequence of mafic to ultramafic lavas and intrusives within an extensive granite and granite gneiss terrain. Rare thin felsic volcanics and volcaniclastics have been observed on the eastern margin of the terrain. No historic workings for gold are known within the permit area

Massakounda – Interpreted Solid Geology and major faults Several rock suites have been interpreted and observed within the Massakounda permit.

• A thick package of interlayered mafic and ultramafic lavas and intrusives: These units are located in two positions (i) a fault bounded wedge in the south of the permit east of the village of Bambako. Typically they are basaltic with thinner komatiitic basalt layers, some layer parallel thrusting is expected in this unit, and (ii) in a thick possibly folded package of basalt, dolerite and rare

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komatiitic basalt centred on the village of Sandikounda. Both units outcrop moderately well and are considered amenable to stream and soil sediment sampling.

• Broad zones of outcropping unaltered basalt:

Typical relatively fine grained these units outcrop well and appear only weakly prospective except in area of major shearing to the south of Sandikounda and along the northeast margin of the permit. Some thin units of interflow sediments have been observed within this package however they appear quite lensoidal and discontinuous and probably make up less than 2% of the entire unit.

• Extensive granite, felsic and mafic gneiss:

Basement granites and gneiss are well exposed in the northern and western portions of the permit. The gneissic terrain is easily identified in the magnetics with the more mafic phases well endowed with significant magnetite. These units are not prioritised for gold mineralization.

6.4 Structure

The Massakounda permit is structurally complex with detailed structural mapping required to assist in the interpretation of the various structure observed. Major features noted to date include:

• a major North-south striking terrane bounding shear along the eastern margin of the permit separating the Massakounda terrane from the more easterly Heremokono and Nyeniko terranes. The shear is unlikely to be a thrust fault but its true nature is yet to be determined

• Smaller, but still major, bounding shears in the Bambako mafic / ultramafic wedge. These faults terminate lithology and may be significant conduits for mineralised fluid

• A series NNW striking shears and faults in the Sandilounda area.

7. DEPOSIT TYPES

Exploration on the Massakounda permit is for gold mineralisation of a similar style to that found to the south at Sabodala. Sabodala is classified as a mesothermal orogenic gold deposit, similar to other Birimian deposits in Ghana, Mali and Guinea. It also shares many characteristics with the Eastern Goldfields of Western Australia. Gold mineralisation at Sabodala occurs within a sequence of multiply deformed mafic to ultramafic rocks and interflow sediments intruded in part by felsic porphyry. The metamorphic grade is approximately middle greenschist facies. Gold mineralisation is associated with quartz, sericite, ankerite/siderite veining and orange coloured silica-albite-carbonate-pyrite alteration.

8. MINERALISATION

Summary of mineralisation for the Sabodala Belt:

Geological Setting Mineralisation Style Alteration and Sulphides Examples • Porphyry and volcanosedimentary

hosted associated with extensional zones impacted by intrusive suites.

• Brittle compressional structures / faults (striking 080 to 060°)

• Low grade disseminated • Brecciation and fracturing of

competent units • Quartz veins •

• Carbonate – Silica • Sericite • Aspy + Py, Chalcopy +

graphite ± hematite • Potassic

• KB • KC

• Sheared sedimentary units in contact with intrusion

• Fractured andesitic tuff close to graphitic shears

• Sheared quartz veins

• Carbonate – Silica • Sericite • Pyrite and Aspy

• KA

• Sheared sediments and porphyry close to 1st order structure (main transcurrent shear)

• Sericite schist with disseminated sulphides

• Sheared quartz veins • Hairline fractures parallel to

shear fabric in porphyry

• Carbonate – Silica • Aspy

• Ba

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Geological Setting Mineralisation Style Alteration and Sulphides Examples • Quartz feldspar breccia • Micro quartz veins

• Monzodiorite intruded into andesitic tuff

• NS thrust • Brittle NE Structures

• Lenticular pods within monzodiorite

• Potassic feldspar? • Hematite • Aspy

• Mako

• Metabasalt in contact with diorite • Major shear

• Quartz vein stockwork within sheared basalt

• Carbonate – Silica • Sulphides

• Sabodala

• Meta – Volcanosediments (sericite schist)

• Major NS trending westerly dipping thrust faults

• Along foliation planes • As micro quartz veins dilated

fold noses

• Sulphides • Silica • Carbonate?

• Niamia

(Source: Randgold Resources, Senegal)

9. EXPLORATION

9.1 Aeromagnetic and Radiometric Survey

Between 10 July and 6 September 2005, Worley Parsons GPX Pty Ltd (WPGPX) completed a fixed wing airborne magnetic and radiometric survey for Sabodala Mining Company SARL at Sabodala, Senegal. The survey was flown using a Cessna 210 owned and operated by West Air. The survey covered a strike length of the Mako Volcanic Belt of some 80km over a width of approximately 30km and included the full extent of the Massakounda permit area. Survey Equipment: Survey Platform Cessna 210 (V5-LXZ). Data Acquisition System Pico Envirotec AGIS PC104 Console. Magnetometer Processor Pico Envirotec MMS4 Magnetometer Processor Magnetometer Geometrics G-822A Cesium Vapour Fluxgate Magnetometer Billingsley TFM100-G2 GPS Receiver Novatel OEM3 Propak II DGPS Receiver CSI DGPSMax Radar Altimeter Collins ALT-50A Magnetic Base Stations Gem Systems GSM-19W In-field Computer Toshiba Notebook In-field Software Pico Envirotec PEIView, ChrisDBF Survey Parameters: Line spacing: 100 metres Line direction: 90° Tie line spacing: 1000 metres Tie line direction: 0° Minimum line length: 5000 metres Sensor height: 50 metres Magnetometer sample rate: 20 Hz Spectrometer sample rate: 1 Hz recording 512 channels Altimeter sample rate: 1 Hz Base magnetometer sample rate: 1 Hz Magnetometer Processor: The Magnetometer Processor is a Pico Envirotec MMS4 Magnetometer Processor. This is an advanced frequency-measuring device that can support several continuous signal magnetometers (Cs, He, K). It is a hardware-software designed system, exhibiting simplicity, easy interfacing and substantial versatility. Magnetometer readings are synchronized with the PPS (Pulse Per Second) signal derived from the GPS for accurate timing. The MMS4 contains 8 channels of analog differential inputs. The first 4 analog channels are sampled synchronously with MMS4 magnetometer at up to 50 samples per second. The remaining 4 analog channels are sampled at 10 samples per second. Analog data is integrated into the magnetometer data stream. Specifications:

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Input: Coaxial - Larmour signal over DC Power Supply Resolution: 0.0002 nT (Gamma) = 0.2 picoTesla Sampling rates: 10, 20, 50 samples per second Dynamic range: 15000 to 100000nT Synchronization: GPS – PPS (Pulse Per Second) Data Storage: Removable Compact Flash Memory Magnetometer Sensor: The Magnetometer Sensor is a Geometrics G-822A, which employs an optically pumped caesium-vapour atomic magnetic resonance system that function as the frequency control element in an oscillator circuit. Specifications: Model: Geometrics G-822A Operating Range: 20,000 – 100,000 nT Sensitivity: Typically 0.002 nT P-P at a 10Hz sample rate Heading Error: <0.15 nT over entire 360º Output: Larmour frequency, 3.498572 Hz/nT Radiometric Data Airborne spectrometers measure the gamma radiation emitted by the nuclear decay of the naturally occurring radioactive isotopes. The GRS410 radiometric data acquisition system records raw 512 channel spectra from each individual crystal. It also records real time calibrated summed 256 channel spectra.

Airborne Geophysics TMI image

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Airborne Geophysics TMI image first vertical derivative

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Airborne Geophysical Survey - Total Count Radiometrics

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9.2 Remote Sensing Data Acquisition

Landsat7 data covering the entire permit area was acquired to facilitate interpretation of subtle structures, alteration, and lithologic features. Three main band datasets were acquired (panchromatic, monochromatic and thermal). Interpretation in combination with aeromagnetic data has defined several targets in the Sandikouna and Bambako areas, whilst continuing to highlight major structural features along the eastern margin of the permit.

Landsat7 Image of Massakounda Permit

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9.3 ASTER Imagery Data Acquisition

ASTER imagery was acquired covering most of the Bransan and nearby Massakounda permits. This data set, has a 15m pixel size, and is used primarily to identify vegetation, soil and alteration anomalies in the visible, infrared and near infrared portions of the light spectrum. Imagery has been acquired from 2 dates (13/04/02 and 12/11/04) to obtain spectra indicative of pre- and post wet season vegetation with three band stretches produced to date – a VNIR (Very Near Infra Red) 742 and 321 stretch, and a LR (Light Response) 764 stretch. Each stretch enhances subtle features in vegetation, regolith and outcrop with interpretation of this dataset ongoing.

ASTER LR 764 Stretch ImageASTER VNIR 321 image

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ASTER VNIR 742 Stretch Image

9.4 Geophysical Interpretation

Dr David Isles (consultant) – Regional interpretation of the entire aeromagnetic survey area. Recently completed a more detailed interpretation of the Massakounda area. Dr. Leigh Rankin (consultant) - Regional geophysical interpretation of the entire aeromagnetic survey area (December 2006). Identified major structures, geology and potential gold targets.

9.5 Ground Mapping and Sampling

Ground reconnaissance mapping has been carried out over accessible regions of the permit area. Major target areas near Sandikounda have been identified as being prospective. Access to the Bambako mafic/ultramafic wedge has been limited as no road access is available. Clearing of existing narrow tracks will be undertaken to provide access from Bransan village in the south.

9.6 Geology and Regolith Mapping

Geology mapping within the Massakounda permit during the quarter has been focussed in the Bodiara Greenstone belt. Outcrop is reasonable in the Bodiara hills area however substantial areas of the greenstone belt (as interpreted from the aeromagnetic data) are covered by residual laterite, transported and re-cemented ferricrete (after laterite), alluvium and residual or colluvial soils. Outcrop has been instructive with fine grained basaltic sequences observed to be intruded by a possible differentiated gabbro dolerite sequence. This folded thick intrusive unit, consisting of several distinctive layers of coarse and medium grained gabbro, medium grained quartz ± alkali feldspar dolerite and fine

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grained dolerite, has several magnetite rich layers that provide important structural data that highlight the post intrusion structural history of the belt. On the edges of the belt intense foliation of these units produces an almost gneissic texture in places. Late intrusion of felsic porphyries and small granitoids is noted throughout as is a small pyroxenitic intrusion.

The intense foliation and structural fabric development along the margins of the belt may be associated with thrusting or thrusting and strike slip movement. By contrast the central portions of the belt are less deformed with north plunging synclinal folding of the mafic intrusive package observed. Several zones of intense shearing of basaltic and intrusive lithologies are noted internally in the belt – dominantly orientated in a N30° direction. These shear zones generally display some significant flattening and are strongly silicified with the original host rock difficult to identify. The presence of this thick intrusive package may be important with respect to the mineralisation potential of the belt, as such units often form competency contrasts during deformation, with certain units preferentially mineralised.

9.7 Soil Sampling

A soil sampling program was initiated over the southern soil covered areas of the Bodiara Greenstone belt. Each sample was taken from the “B” soil horizon where possible at approximately 40-50cm. In area of hard re-cemented transported ferricrete the sample was taken from as deep as possible – nonetheless results from these samples will assessed with care and deeper RAB drilling for saprolite geochemistry may be required. Samples were taken on lines at 200 metre intervals and 50 metre sample spacing with 496 samples taken during the program. Samples were despatched to Analabs Laboratory in Kayes, Mali for low level gold anlysis (1ppb).

Bodiara Geological Mapping

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Bodiara Soil Sampling Analysis of the soil sampling data has shown that the sampling was not effective – due to the nature of the regolith. A more effective way of sampling the area will be planned. This will probably involve geochemical RAB drilling, to blade refusal.

10. DRILLING

No drilling has been carried out by SMC on this permit.

11. SAMPLE PREPARATION, ANALYSES AND SECURITY

Soil samples are prepared by Analabs Kayes in Mali who undertake the geochemical analyses by fire assay for gold.

12. INTERPRETATION AND CONCLUSIONS

Massakounda was partially explored by RANDGOLD which concentrated its work on anomalies located to the SE of the present Massakounda permit area. Massakounda is located to the north of the Sabodala Mine Shear Zone – many of the same controls on mineralization are interpreted from magnetic data to lie within the permit area. The greenstone component of the belt is almost entirely mafic-ultramafic lavas and intrusives – all considered potentially good hosts for gold mineralisation. Layered intrusives in the Bamabako area are also considered to have some potential for nickel mineralisation. Structurally the area is complex with further interpretation of existing aeromagnetic required.

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Initial soil sampling by SMC covers an area recognised to be mainly transported materials, ferricrete, and black soils. Re sampling of key parts of this area by RAB drilling is recommended.

13. RECOMMENDATIONS

1. Construct access track 2. Expand soil sampling program to the north of existing samples. 3. Detail with 1:10,000 air mags for structural targets to be tested by RAB drilling. Initial soil sampling by SMC covers an area recognised to be mainly transported materials, ferricrete, and black soils. Re sampling of key parts of this area by RAB drilling is recommended.

14. REFERENCES

RANDGOLD RESOURCES, SENEGAL. Souroumdou Concession. Final Report Project #6201, Senegal, West Africa (from 28 February 1995 to 31 March 1999). SABODALA MINING COMPANY – Massakounda Exploration Permit. Combined Quarterly Report for the first two periods of the Rokamco Joint Venture (from 1 August 2005 to 30 January 2006).

SABODALA MINING COMPANY – Massakounda Exploration Permit. Combined Quarterly Report for the third period of the Rokamco Joint Venture (from 31 January 2006 to 30 April 2006). SABODALA MINING COMPANY – Massakounda Exploration Permit. Combined Quarterly Report for the fourth period of the Rokamco Joint Venture (from 31 January 2006 to 30 April 2006).

APPENDIX I

Approval for SMC - Rokamco Joint Venture

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