REPORT ON 2004 EXPLORATION PROGRAM ON THE BELLEVUE PROPERTY, SAULT STE. MARIE MINING DIVISION,

ONTARIO

Roger Moss Ph.D., P .Geo.

16 March 2005

. ;

LIST OF FIGURES

Figure 1. Location of the Bellevue Property ...................................................... 6 Figure 2. Map of claims comprising the Bellevue Property ................. , ..... " .......... , .. 7 Figure 3. Regional Geology ......................................................................... 9 Figure 4. Geology of the Bellevue Property ............. , .............................. Back Pocket Figure 5. Copper in rock samples ................................................................. 15 Figure 6. Nickel in rock samples .................................................................. 16 Figure 7. Chromium. in rock samples ........................ '" ................................. 17 Figure 8. Cobalt in rock samples ........................................................................... 18 Figure 9. Nickel in soil samples - MMI Geochemistry ........................................ 20 Figure 10. Copper in soil samples - MMI Geochemisrty ........................... " ......... 21 Figure 11. Rock Sample Locality .................................................... Back Pocket Figure 12. Soil Sample Locality ....................................................... Back Pocket Figure 13. Geochemical Compilation ............................................................ 25

LIST OF TABLES

Table 1. Claims comprising the Bellevue Property .................. , ............................ 5 Table 2. Sum.mary of Percentile Values used to Define Anomalous and Probably

Anomalous Samples ........................................................................ 13 Table 3. Sum.mary ofMMI Results ............................................................... 15 Table 4. Budget for proposed 2005 exploration on the Bellevue Property .................. 26

LIST OF APPENDICES

Appendix 1. Sample Descriptions Appendix 2. Assay Certificates Appendix 3. Standard and Duplicate Samples

3

1. SUMMARY

The Bellevue property of Amerigo Resources Ltd. is located in Aweres and Van

Koughnet Townships approximately 20 kilometres northeast of Sault Ste. Marie, Ontario.

The property consists of 6 claim blocks comprised of 44 units and covers an area of

approximately 704 hectares. It was staked by Amerigo Resources Ltd. in February 2002

following the signing of an option-joint venture agreement between Amerigo and

Falconbridge Ltd. on the Island Copper Property immediately to the west. The target of

exploration on the property is an iron oxide copper-gold deposit of the Olympic Dam

style. After staking the ground, Amerigo carried out a detailed airborne magnetic survey,

prospecting, stream sediment sampling and reconnaissance mapping and sampling.

During 2004, the Bellevue property was acquired from Amerigo by Nikos Explorations

Ltd. who undertook geological mapping, rock and soil sampling.

The property is underlain predominantly by mafic volcanic and sedimentary rocks

of the Huronian Supergroup. These rocks unconformably overlie Archean-aged granite

and gneiss, along what is believed to be a fault, in the western portion of the property.

Results of the rock sampling indicate copper values up to 498ppm, nickel values up to

1054 ppm, chromium values up to 1150 ppm and cobalt values up to 268 ppm. Soil

samples collected for Mobile Metal Ion (MMI) processing showed values ranging from 5

to 2,229 ppb nickel and from 10 to 3,142 ppb copper.

There is a concentration of anomalous samples near the contact between the

Huronian and Archean rocks in the western part of the property. Anomalous copper,

nickel, chromium and cobalt values occur in rock samples taken from this area, and both

copper and nickel anomalies occur in the soil samples. The samples defme an area of

approximately 1 kilometre by 700 metres that should be followed up during 2005. The

target of this follow up program is magmatic sulphide Ni-Cu mineralization.

A program of line cutting, followed by geological mapping, rock and soil

sampling over the cut lines is proposed. Ground magnetic and electromagnetic surveys

along the lines are also proposed in order to defme targets for a first stage drill program.

The program is expected to take approximately 3 weeks to complete at an estimated cost

of $75,000.

4

2. INTRODUCTION AND TERMS OF REFERENCE

This report describes the work carried out by Nikos Explorations Ltd. on the

Bellevue property during 2004. The exploration programme was supervised by Dr. Roger

Moss, President of Nikos Explorations Ltd, and the qualified person for the project. He

has been involved in exploration on the property since February 2002 and has supervised

all work conducted on the property by Amerigo and Nikos. This report is based largely

on this experience and current and historical data. Dr. Moss developed the exploration

model for lOCO exploration in the Sault Ste. Marie area and has been active in the

investigation of Proterozoic iron-oxide copper-gold deposits for the past four years.

3. PROPERTY DESCRIPTION AND LOCATION

The Bellevue Property is located about 20 kilometres northeast of the city of Sault

Ste. Marie, Ontario (Figure 1). It consists of six unpatented claims comprised of 44 units

covering an area of approximately 704 hectares (Table 1). Four of the claims are

contiguous, while the other two claims occur south of Nikos' Island Copper Property

(Figure 2). The property is approximately centered on 71500x 5175000y (UTM NAD83

Zone 16).

bl 1 Cl . Ta e . aIms compnsmg th e Bel evue Property I Claim Number Number of units Approximate I Due date Expenditure I

Area (ha) r Required SSM1248541 10 160 18-Mar-05 $4,000 SSM1248542 8 128 18-Mar-05 $3,200 SSM1248543 4 64 18-Mar-05 i $1,600 SSM1248544 3 48 18-Mar-05 $1,200 SSM1248545 7 112 18-Mar-05 $2,800 SSM 1248546 12 192 18-Mar-05 $4,800

Total 44 704 $17,600

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

The property is located in the Island Lake area east of the town of Heyden .. Access

to the property is by paved Highway 17 north of Sault Ste. Marie, followed by Highway

5

Michigan

Figure 1. Location of the Bellevue Property.

Sugar Island

6

" " ,~.' . .~" "

.. . . ,/

-' , " , , ,.

" 1/

1 i f . -.,,, ... -• I , . ,

r. •• ?- ' , • ,Il .. '" oJ". .. j •

'. ,II I,.

• t.

• ,/

\1"1:' • o: ~ :' l>I r( :1",- i !T.;>= .~.: !Y::-~ ',t , ) rp~ 0' '~::rht ... Oc:H ~. -:-~ .-.r: t""I~:. \1- flO; :.6 1 'e.~ ,I ir.r" i: :­T.;tI " ," '% 1"""lC. - /':'>"jo-.=.:.T""":I~ n'm,. l':' aT'3:', :~'n·,::;l.: }

Bellevue Property

Figure 2. Map of claims comprising the Bellevue Property .

7

" ,-" ',

:, . " .. ,,, ' !

556 that runs east of Heyden to Searchmont. The property straddles highway 556. Gravel

roads and trails provide further access to different parts of the property.

The Bellevue Property is characterized by moderate to low relief. Elevation

ranges from 1000 to 1400 feet above mean sea level, being generally higher in the

southeast section of the property. Streams and lakes drain north towards the Bellevue

River that, in turn, drains west into the Goulais River. Vegetation consists of mixed

hardwoods and softwoods, and there is minor logging activity in the central area. Water is

available from Upper Island Lake and in limited quantities from small creeks, ponds and

lakes throughout the property.

5.IDSTORY

A review of assessment file data failed to find records of any exploration carried

out in the area covered by the Bellevue claims. Field work by the Ontario Department of

Mines and later the Ontario Geological Survey has been performed in the general area,

including geological mapping Bennett et al., 1975; Giblin, 1982), lake sediment

geochemistry (OGS-GSC, 1979) and an aeromagnetic survey (ODM-GSC, 1963). More

recently, the area covered by the Bellevue property has been described as being

prospective for iron oxide copper-gold deposits (Hailstone, 2002).

Amerigo Resources Ltd. conducted regional exploration over the claims during 2003,

work included airboume magnetics, stream sediment sampling, mapping and rock

sampling. Results of rock and stream sediment sampling indicated a nickel anomaly and

two multi-metal anomalies. The nickel anomaly also contained anomalous chromium,

cobalt and copper, a metal assemblage that suggests the possibility of magmatic sulphide

style mineralization.

6. GEOLOGICAL SETTING

The property covers the unconformity between Proterozoic rocks of the Huronian

Supergroup and Archean gneisses and granites (Figure 3). The Proterozoic rocks consist

of clastic sedimentary rocks of the Aweres Formation, Cobalt Group and volcanic rocks

8

late Precambrian Kevveenavven

D Malic and fel sic volcanic rocks and sedimentary rocks

Middle Precambrian

o Nipissing Diabase

Huronian Sed ime nta ry and Volcanic Rocks

Early Precambrian (Archean)

o o \

\.

"

Felsic Intrusive and Metamorphic Rocks

M ali c to I nt erme d iate Metavolcanic Ro cks

Uneament, F aul!

"-'\,

\

. \ \

\ \

\ }

---~-~ --./

/'

, I

Source: OGS Map 2419 S au~·Ste . Marie · Elliot Lake

'!':9==:::!5..,. __ 1c:O ===1j,5 __ .2O Kilometres

Figure 3. Regional Geology.

9

of the Thesselon Formation, Elliot Lake Group. Several faults occur in the area,

including the east-west trending Highway fault that separates the Archean rocks from the

Proterozoic rocks to the south. This fault is truncated and cross cut by a regional scale

north-northwest trending fault immediately north of Upper Island Lake. This fault

intersects the Bellevue Fault to the north of the property.

Several mineral occurrences are covered by the claims, including hematite

associated with faulted Huronian rocks immediately east of Highway 556, a copper

occurrence at the north end of Upper Island Lake and an unidentified radioactive

occurrence, reported south of Highway 556 in the vicinity of Aweres Lake. A positive

440 gamma aeromagnetic anomaly occurs in the northeast portion of the property.

7. DEPOSIT TYPE

7.1 Introduction

An iron oxide copper-gold (IOCG) deposit of the Olympic Dam-type is the target

of exploration on the Bellevue Property. Iron oxide copper-gold deposits are attractive

exploration targets due to their common large size and multi-metal nature. Exploration

for these deposit types, especially among junior explorers, has suffered from the lack of

rigorously defmed models, both empirical and genetic, and well documented case

histories. Several recent publications (Vancouver Mining Exploration Group, 2000;

Porter, 2000; 2002) have however provided a broad framework of models and case

histories that may be used in targeting areas for IOCG potential, and for designing

follow-up exploration programs. However, as pointed out by Pollard (2000), IOCG

deposits are part of a broad spectrum of copper-gold deposits that include both porphyry

and skarn-type deposits and rigid application of deposit specific characteristics to

exploration should be avoided.

7.2 Characteristics of IOCG deposits

While IOCG deposits range in age from the Archean to the Neogene, many of the

deposits, including most Australian examples such as Olympic Dam and Ernest Henry,

are Proterozoic in age. There are many inferred tectonic settings for the deposits, with an

anorogenic or rift-related setting being most widely postulated (Barton and Johnson,

10

1996). However, it appears that regardless of the specific setting, an extensional

environment is of fundamental importance (Gandhi and Bell, 1995). A strong structural

control is noted in most deposits, with mineralization emplaced along major regional

faults or fracture systems, at intersections of faults or in axes of major fold systems

(Oreskes & Hitzman, 1993).

Typically IOCG deposits show spatial and temporal links with igneous rocks,

including alkalic granitoids and volcanic rocks, calc-alkalic mafic, intermediate and felsic

suites, continental flood basalts and rift-related basalts (Barton & Johnson, 1996). Many

deposits are directly associated with the emplacement of high level felsic plutons (Ghandi

& Bell, 1995 ; Wall, 2000), typically occurring in the roof zones of the pluton (Ethridge &

Bartsch, 2000). Mineralization is commonly hosted by hydrothermal intrusive breccias or

diatreme breccias (Reeve et aI., 1990; Pollard, 2000).

IOCG mineralization consists of Ti-poor iron oxide, with lesser phosphates, Cu­

and Cu-Fe sulphides, and variable Au, U, Ag and Co (Barton & Johnson, 1996). To some

degree it is the low Ti nature of the iron oxide that ties otherwise disparate mineral

deposits of the IOCG class together. The most common iron oxides are hematite and

magnetite. Magnetite is typically early and occurs in the deeper or more proximal parts of

the hydrothermal system, whereas hematite is later, more distal and may overprint the

earlier magnetite (Barton & Johnson, 1996; Oreskes & Ritzman, 1993). The magnetite

may be accompanied by apatite (e.g. Kiruna) and Cu-Fe-Sulfides (e.g. Ernest Henry,

Candelaria) and widespread sodic alteration. Gold and Cu-Fe sulphides are associated

with hematite-stage mineralization at Olympic Dam (Reeves et al., 1990; Barton &

Johnson, 1996).

A broad range of elements may be associated with the mineralization. Apart from

the Fe, Cu and in some cases Au and Ag, comprising the mineralization, deposits may be

anomalous in Ba, P, F, CI, Mn, B, K, REE, U and Na and have elevated Co, Ni, Te, As,

Mo and Nb abundances, whereas Ti and Crtend to be depleted (Foose & Grauch, 1995).

Exploration for IOCG deposits relies heavily on gravity and magnetic surveys,

with coincident gravity and magnetic anomalies being the preferred target (Gow et

al.,1994). Detailed aeromagnetic surveys are recommended to map structure in the area

11

of interest with likely dilational sites targeted for further follow up using alteration and

geochemistry to site drill holes (Etheridge & Bartsch, 2000).

7.3 Application to the Bellevue Property

The following features, considered to be key exploration criteria for IOCG deposits,

are relevant to the Bellevue area:

1. A geological setting on the margin of an Archean craton.

2. The presence of regional scale faults such as the Highway Fault that separates

Proterozoic and Archean aged rocks.

3. The presence of hematite, in part after magnetite, associated with faults in the

area.

4. The presence of a broad, regional aeromagnetic anomaly on the property.

8. EXPLORATION

During the 2004 field season, Nikos carried out geological mapping, and rock and

soil sampling. All work was carried out by geologist Mark Smethurst M.Sc. under the

supervision of Roger Moss Ph.D., P.Geo. the qualified person for the project.

8.1 Geology

Reconnaissance geological mapping at a scale of 1 :5,000 was undertaken during

2004 along east west oriented traverse lines spaced 400 metres apart crossing the

Bellevue property. Most of the property is underlain by Huronian-aged mafic volcanic

rocks of the Thessalon Formation, with minor sedimentary rocks (Figure 4, Back Pocket).

The mafic volcanic rocks are fme grained dark green to gray rocks and are typically

massive to locally porphyritic. In some localities the mafic rocks show evidence of

epidote, chlorite and sericite alteration as well as quartz veining. Sulphides, including

pyrite, pyrrhotite and rare chalcopyrite and bornite, are associated with these alteration

minerals in places.

12

The sedimentary rocks are comprised of conglomerate, sandstone and siltstone,

and appear to fonn large discontinuous lenses within the mafic volcanic rocks. These

rocks likely belong to the Gowganda and Lorrain Fonnations that have been noted in the

area (e.g. Hailstone, 2002). The rocks are typically laminated and variably silicified.

Pyrite is the only sulphide that was observed in the sedimentary rocks.

The Archean - Proterozoic WlconfOnnity trends approximately northwest­

southeast and crosses the western part of the property. In some places, notably along

Highway 556, this contact is a fault contact. The Archean rocks are composed

dominantly of gneiss that is gray-green to pink, and shows gneissic layering in some

places. Alteration observed within the gneiss includes intense silicification and minor K­

feldspar and epidote.

The gneiss has been intruded by weakly to moderately magnetic mafic dikes

containing quartz and epidote veinlets and minor pyrite and pyrrhotite.

8.2 Geochemistry

During the course of mapping on the property, 85 rock samples were collected.

All samples were sent for multi-element analysis (see Section 9). Results of the sampling

revealed a concentration of samples with anomalous nickel, copper, chromium and cobalt

values in the central part of claim 1248541, as well as more scattered anomalous samples.

Anomalous samples were determined using percentile values. Values greater than the

97.5th percentile are considered anomalous, whereas those greater then the 90th percentile

are considered to be probably anomalous and still worthy of follow-up. Percentile values

for the metals of interest are shown in Table 2.

Table 2. Summary of percentile values used to define anomalous and probably anomalous samples.

Percentile

90 97.5 Max

Copper 188 ppm 250 ppm 498 ppm

Nickel 122 ppm 254 ppm 1,054 ppm

Chromium 210 ppm 630 ppm 1,150 ppm

Cobalt 48 ppm 81 ppm 268 ppm I

13

Samples contain up to 498 ppm copper and ten of the 85 samples are greater then the 90th

percentile and considered "probably anomalous" (Figure 5). Of these, three occur in the

western part of the property. Samples containing clearly anomalous nickel values (>97.5th

percentile) are all found within the boundaries of Claim 1248541 (Figure 6). A further

three probably anomalous samples were also collected from this area. Results for samples

with anomalous chromium are similar, in that samples with the three highest values are

also found within claim 1248541 (Figure 7). Two of these samples are also anomalous in

nickel, whereas the third is probably anomalous. Three samples are anomalous in cobalt

(Figure 8) and one of these, within claim 1248541, also contains anomalous nickel and

chromium.

8.2. Soil samples

A total of 128 soil samples were collected over the property on traverse lines spaced 500

metres apart. Samples were collected at 100 metre intervals along the traverse lines.

Control for the traverses was by means of a global positioning system (GPS). Results of

the survey are summarized in Table 3. Nickel values range from 5 to 2229 ppb, and three

samples are considered anomalous. These samples occur within, or in close proximity to,

claim 1248541 (Figure 9). Copper in the soil samples ranges from 10 to 3142 ppb. All

three of the anomalous samples occur on one line in the south eastern portion of the

property (Figure 10). One of these anomalous samples is also anomalous in nickel.

9. SAMPLING METHOD AND APPROACH

9.1 Rock samples

Rock samples are chip samples, collected directly from outcrop, unless otherwise

noted, and are believed to be representative of the rock sampled. Rock samples were

placed, together with an identification tag, in plastic sample bags with the sample number

written on the exterior. Sample descriptions are given in Appendix 1, and locations are

shown on Figure 11 (Back Pocket). All samples were securely stored prior to shipment to

the analytical laboratory .

14

'I! 'I!. 'I! 'I!: 'I! 'I! 'I! 'I!: 0 0 0 0 8-= :;s & = g ~

m = = 0 0 0 o ·

~ :;so

~ N ·

0 g ;:. ;:. ~. ~. ;:. ~.

0

5)76500 .rrtJ .. _ . _ ______ __ • . •.••.. _ , 0

r' . ' o .

517~OOO rrN . . . • . •• . • ••. : .;/ • •.. •..• . -'.J . -\

Q

To Sault Ste. Mfuie

-¢ ()

· 0

.:

. • I . Q ...... - . f . . . ... . .... I .. - .... .. .. . ' j ' .. .

· <) .0 · Cr , o . ,,--

o 0:

o 1248542

...·0 {)

I~. t;

0 : 0

.<> o

: 0

. ... 0 o

r . . . . • . . . . . . . . -: . ... : () . . :0 0 12485:46 ....

.. .. . i:_ - -0 " '.- . . {) :1'0.

. -. :0 . 0 - :. 0 .

I 00 _. -

Upper Island Lake

Figure 5. Copper in Rock Samples

15

o

Cu (ppm)

• 25010484 o 18710250 o 010187

NlKOS '*' LORA liONS L 10.

BeUel,Ue Prcp erty

RIck Geoctemisty

Cu{pp-n)

150 toO 750 nO.

5176~ O mN :

5176O(]O mN .. . ,

=175~O mN .~ .

5174!DO mN .: .

511tla)(l mN .: '

'L , & I • . ,

To Sault Ste. wm

N o. To S arch mont

o 0

124841 · ... ! •

. .... 9 . .

o ~ I o

r 0 <)

r -o

o 1248545 ,, :of--- <>

o 0

o . , . ..

0 , 0

00

o

:- .. ) ...

" . o . ,~f .. ... ~ / /~. ~ ~ :

.- -.-'. 0

r·· . e>

. ...

. 0

(>

o.

o

. ,

I ,.' . . , . ...

:'

• I . y'

t " .' 1248542

'0 o 00 1248546 .... _

·0 ' .. -. -. T p . 0.,

~ ...... - '

, 0 .0 . _._ 0 _. ,

<) -Upper Island Lake

-·0 - o

Q..., 00

Figure 6. Nickel in Rock Samples

/.

o

16

Ni (ppm)

• 200 to 16060 o 120t020 o Oto 120

Nt<OS EXI'LOAA1lJNS lID.

Bel lMle ~eny

Rod; Geochemi st ry

250 &)0 750

U> W · E. E.

0 :s. 0 0 ~ ~ ~

~ ~

~1l5!>l q rr:I'I .... " ...

<.

o

To Sault Ste. Mfuie-

U> U> U> 't!. "' E. E. E. E. 0 0 :s. 0 0 0 o · g g ~. 0

N' ~. ~ ~.

r

, \1 \ . " :) 1248545 /1' 0

" , o . ,~~ ~ ~_,.

.. . -"' ~ -:" . .. Q - -. .... ! . - .. ~ . -

. : ~ 0 ,. ", ,

o 0 () o I : . , , , " o ..... , .. . , -0 0 . 0) o " '0 <>

: , O' 09 " 0 0

.~ o '0

1248542

. . .. I .

' 0 '0

Ci ,

. ,

. . } . . : . .

,

o c 1248546 "', . . '

,~:

/. . 0 " ;" ... , r .0 i) ;0 . ·0· . {) . ... . .

() • 0 , , o 06 , " - - -

Upper Island Lake

Figure 7. Chromium in Rock Samples

17

Cr (ppm)

• 600 to 16150 o 210t06 0 o Ot0210

NKOS EXl'LO~l1ONS LTD.

Bel lev L.e Prqlerlf

Rock Geochemi&ty

Cr (p~)

o 250 500 750

ui E 8 51

"

51il3SJ.o o1\i .

5t16JDDaN .

5t~lilD~ . ·1

5 t745JD rrN .

5 1}4jD~O)i'j .

w w E' E' 8 ' 8 ' Ill" S · I'!: '"

0 •••••••

. . 0 : 1 ()

: 1248541 :

. <9 J

o {}

0-

0'

"J

• 0-

To Sault Ste. M1ffi

w w ui ui uj E E' E E E 8" 8' 8 8 8 19' c · 'S1 f'l ~ ",' 1:: <=: '" N

Tracehmonl 0-. .. .

r - -f)

9 0-

0 0-J

:0 0

f) <:0- .. :' 0

. . ~ .. () f) ' 0 o·

0- 10-

1248542 .0 ..

1

1248545 ... 1' & \

" · ·

.'0

()

0

" . o . . : .... : f--"~-r . . .. . "

0::- 0 ' . r·· . f.>

.. )

o ()

11 • . . . ! .

.\)

f

J : : · . : .

, f . .. . . ~

. . . · · J:

. I , ••

. . ' 001248546 .. .. .

... (i . :.f) .... () .. ;:

. . . ... .

I ., - ' o -

. Upper Island Lake

Figure 8. Cobalt in Rock Samples

18

o

Co (ppm)

• 80 to 100 o 50to80 o Oto 50

NKOS EXPLDRATIONS L 10 .

8eleMJe ProlErty

Rock Geod1erristry

Co ("m )

250 500 7'50

Table 3. Summary of MMI Results

Max Min AveraQe Stdev Ag ppb 41.5 1 7.8 6.0 As ppb 81 <10 6.0 7.3 Au ppb 0.6 <0.1 <0.1 <0.1 Ba ppb 2193 10 193.0 274.0 Bi ppb 1 <1 <1 <1 Ca ppm 288 <10 24.2 50.5 Cd ppb 90 <10 28.1 18.1 Ce ppb 1225 <5 91.7 134.8 Co ppb 509 <5 62.0 67.7 Cu ppb 3142 10 319.7 367.0 Oy ppb 74 <1 23.2 17.1 Er ppb 42.7 <0.5 11.5 7.5 Eu ppb 20.95 <0.5 5.2 5.0 Gd ppb 97.5 <1 23.8 23.2 La ppb 310 1 40.1 51.7 Mg ppm 23 <1 2.0 4.0 Mo ppb 6 <5 2.6 0.5 Nb ppb 6.4 <0.5 1.4 1.1 Nd ppb 445 1 81.0 92.4 Ni ppb 2292 5 123.8 206.4 Pb ppb 10030 10 741.0 1353.1 Pd ppb 1 <1 0.5 0.0 Pr ppb 103 <1 16.9 19.9 Rb ppb 223 5 58.9 29.1 Sb ppb 2 <1 0.5 0.2 Sm ppb 89 <1 19.5 20.6 Sn ppb 20 <1 0.7 1.8 Sr ppb 440 <10 49.6 83.7 Te ppb 10 <10 5.0 0.5 Th ppb 106 0.5 9.4 10.7 Ti ppb 3510 3 628.5 580.6 TI ppb 1.4 <0.5 0.5 0.3 U ppb 113 1 11.8 15.4 W ppb 7 <1 0.7 0.8 Y ppb 417 <5 106.2 84.1 Yb ppb 25 <1 7.8 4.7 Zn ppb 7416 20 1153.5 1275.0 Zr ppb 55 <5 12.1 7.0

19

II 17:JOOO .... N _ _ _ _ _ _ E •

~

~ 11 «100 mli -

~17eJOOmli •

61751500.11 -

11114:100 "' " • - I -

. - I!:. - • - •

~ -, - · - ,-

· " .' - \ 1'

1248545 .. ~ . .. , . .- . . .( ~ ·:-k~q;:o. -

'. 'J •• ,

· (',0 . - ·Cl"-<' -CD 0 -

\ . .:

, ~ .: .

· .. · I :

: • I .. -·

. / : I I· 1248546 :" ' . 1248542 '. . . :

XDQ:OOQ)O'ft"PC(X)cOO:OOOO < . : I '. I ' . .

~l14JOO ", Ii •

. . , . . . .

. 1 .' '~:'~~U-It ~t~. -M~;e~ ,,~.' .. 1

. . -II .. - - . . ,

Upper Island Lake - ~- --

-

Ni (percentile)

• 97.5 to 100

0 90 to 97.5

0 o to 90

~os E)(f'lORP.l1ONS LJ'D.

Bel levue Propelty

i='=-- MMI Geochemistry Nickel

o 25 0 500 750

Figure 9. Nickel in Soil Samples - MMI Geochemistry

20

e178600 mN •

611' 000 mN • • , -

'i1~SG O mH . _ ~ •

, 6110000 mN _ _ ~ ._

~ 11450 0 mH - - . -

6114000 mH .

6173 500 .,N _ • _

To Sault Ste. ~i

. I. 0(.,...". "......... _ __ ~-,....,....... f) . . ,

1248545 .. ~ , . , . , .' ,

· ··· ~ ... ':;.;bn ' . " , ', ( v . ~Jr'la . .--' " ~ . : 'r· ..

'\ 1' \

. ~ . ,

. , . . , .

I : . , nO ' , . . Q'"" . CO '(,, ' , , . . ~ .

~~)' .

, . " " - r) ' ... . ,/ . . ° 0 (;000)000 0 . Oq~0)OO:' .. . ; ,

Cu (Percent ile)

• 97.5 to 100

o 90 to 97.5

o Oto90

: I I 1248546 :< , .' '. 1248542 ' . . ' : , I ..--------.1 O:::e() o)OoOOO(jQ Y:C>OCO OOO< '.· .. r-a<os EXPLORlll0NS LTD. ,I ' . I . 1---..-------1

BalevlE Prcpel't)' . . , ,. ,

Upper Island Lake -'- .. --.

- i='=----j MMI Geochemistry Copper

9 Zi9 599 759

Figure 10. Copper in Soil Samples - MMI Geochemistry

21

9.2 Soil Samples

Sampling of soil during the MMI survey followed the procedures outlined in the MMI

Manual (Wamtech, 1996). Based on the results of an orientation survey at Nikos'

Coppercorp property, soil was sampled at a consistent depth of 10cm below the surface

organic matter. Samples were collected with a garden trowel and stored in "ziplock"

plastic bags prior to shipping to the laboratory. Descriptions of the samples and details of

the sampling sites are given in Appendix 1, and sample locations are indicated on Figure

12 (Back Pocket).

10. SAMPLE PREPARATION, ANALYSES AND SECURITY

1 0.1 Rock Samples

Rock samples were packed into rice bags and transported by the author from Sault

Ste. Marie to Toronto, and shipped via Greyhound Express to Activation Laboratories,

1336 Sandhill Drive, Ancaster, Ontario, Canada, L9G 4V5, for analysis. Activation

Laboratories is an analytical laboratory that is accredited to international quality

standards (ISO Guide 25 accreditation). All samples were analyzed for Au, As, BA, Br,

Ce, Co, Cr, Cs, Eu, Fe, Hf, Hg, Ir, La, Lu, Na, Nd, Rb, Sb, Sc, Se, Sm, Sn, Ta, Th, Th, D,

W, Y, and Yb by instrumental neutron activation analysis and for Ag, Cd, Cll, Mn, Mo,

Ni, Pb, Zn, Al, Be, Bi, Ca, K, Mg, P, Sr, Ti, V, Y, and S by inductively coupled plasma­

optical emission spectroscopy (ICP-OES) following a four acid digestion (HF, HCI04,

HN03, and HC!). The values given here are as reported by Activation Laboratories, and

assay certificates are included in Appendix 2.

12.1 Soil Samples

All soil samples were put in individual zip lock bags with the corresponding

sample number, and securely closed. Samples were packed into rice bags, approximately

30 samples per bag, and transported directly to SGS Canada Inc., 1885 Leslie Street,

Toronto, Ontario, Canada, M3B 2M3, for analysis. SGS Canada Inc is an analytical

laboratory that is accredited to international quality standards (ISO Guide 17025

accreditation). All samples were analyzed for Ag, As, Au, Ba, Bi, Ca, Cd, Ce, Co, Cu,

~~~~~~~~~~~~~~~~~~~nn~

22

w, Y, Yb, Zn and Zr by inductively coupled plasmal mass spectrometry following a

multi-component extraction.

Roger Moss verifies that all samples for analysis were collected and packed under

his supervision, and delivered directly to the laboratory by him. The values given here are

as reported by SGS Laboratories, and assay certificates are included in Appendix 2.

It is the author's opinion that all sampling was undertaken in a manner consistent

with industry best practice, and that the samples collected were representative of the

medium sampled. Every effort was made to keep contamination to a minimum during

sampling. The samples were properly bagged and packed and securely stored prior to

shipping and were shipped directly to the laboratory.

Nikos monitors the quality of the analyses received by the introduction of

certified reference standards and duplicate samples into the sample stream. Standards

were obtained from Analytical Solutions Ltd. Duplicate samples are collected in the field

(field duplicates) and are also routinely taken from splits of samples by the laboratory

(lab duplicates). Summaries of standard and duplicate samples used in the rock sampling

and in the MMI Survey are given in Appendix 3.

Another important component of a quality-monitoring program is check assays,

whereby samples analyzed at one laboratory are "checked" by a second analysis at a

different laboratory. No check assays have been carried out on Bellevue samples to date,

since the exploration program is still at an early stage.

11. CONCLUSIONS AND RECOMMENDATIONS

Reconnaissance scale exploration has been undertaken on the Bellevue property

since the property was staked in February 2002. An airborne magnetic survey resulted in

improved resolution of the previously known magnetic high in the northeast comer of the

property. The source of this anomaly, that covers an area of approximately three

kilometres by three kilometres, remains unknown.

Geological mapping on the property indicates that the anomaly is predominantly

underlain by Huronian-aged mafic volcanic rocks of the Thessalon Formation. Minor

disseminated sulphide mineralization, mostly pyrite and pyrrhotite with rare chalcopyrite

23

and bornite have been found associated with the Thessalon mafic volcanic rocks and with

the older Archean gneisses to the west.

Initial geochemical surveys during 2003 resulted in the definition of three

anomalies for follow up. One of these anomalies straddled the contact between the

Huronian volcano-sedimentary rocks to the east and the Archean Granite-Gneiss to the

west, and consisted of anomalous nickel, copper, chromium and cobalt in both rock and

stream sediment samples.

Follow up mapping and sampling over the property during 2004 has confirmed

the presence of copper, nickel, chromium and cobalt anomalies in this area. In addition,

anomalous copper and nickel values in soil were found in the area of the Huronian -

Archean contact (Figure 13). This contact appears to be a fault and the association of the

anomalous metals with the contact may suggest mobilization of the metals along the

fault. The combination of chromium, copper, and nickel is commonly found in magmatic

sulphide Ni-Cu deposits. Other features of the Bellevue Property indicate that a magmatic

sulphide exploration model may be warranted include:

The large volume of mafic volcanic rocks at surface

The large, 3 by 3 kilometre, magnetic high covering the mafic volcanic rocks

A continental rifting tectonic setting.

While these factors are encouraging, it should be noted that the only mafic intrusive rocks

identified on the property thus far are diabase dikes.

The results of exploration to date on the Bellevue Property are sufficiently

encouraging to continue with follow-up exploration. It is recommended that the following

program be undertaken during the coming field season:

1. A grid should be cut over the anomalous area located within claim

1248541.

2. Detailed geological mapping, rock sampling and soil sampling for MMI

analyses should be undertaken over the grid.

3. This should be followed by ground magnetic and electromagnetic surveys

to delineate targets for a first stage drill program.

24

N

t i

I I

\ } !

I

) / !

•. ,J'

f f

0 0

b 5f Metres

- I 5174500 I I I 5174000

LEGEND PROTEROZOI C

D Diabase

Huronian Group

D D D

Clastic Sedimentary Rocks

Mafic Volcanic Rocks

ARCHEAN

Gneiss/Granite

KEY Percentile

• 97.5 to 100 o 90 to 97.5

Soil (MM I) Samples • Cu (percentile) • Ni (percentile)

Rock Sa mples .. Cu (percentile) T Ni (percentile) * Cr (Percentile)

NlI4JS E)(PLORAl1 OllIS L 10.

1----1 Bellevue Property Geochemical Compilation

Figure 13. Geochemical Compilation map of the Bellevue Property.

25

A budget covering the proposed program is shown in Table 4 below.

Table 4: Budget for proposed 2005 exploration on the Bellevue Property units cost/unit # units total

Fees and Labour Geologist days 400 21 $8,400.00 Assistant days 250 14 $3,500.00

Travel Truck Rental weeks 700 3 $2,100.00

gas weeks 250 3 $750.00

Accommodation weeks 700 3 $2,100.00 Food days 50 21 $1,050.00

Field Supplies $250.00

Samples Rock Analyses Samples 35 100 $1,050.00

MMI Samples 35 150 $7,000.00 Shipping $200.00

Line Cutting Line km 450 30 $13,500.00

Geophysics Ground Magnetometer Line km 120 30 $3,600.00

Electromagnetic Line km 500 30 $15,000.00 Mob/Demob $3000.00

Geophystcallnterpretation day 600 3 $1,800.00

SUb-Total $63,100.00 GST $4,417.00 Contingency $6,751.70

Total $74,268.70

26

12. REFERENCES

Barton, M.D., and Johnson, D.A., 1996, Evaporitic source model for igneous-related Fe oxide­(REE-Cu-Au-U) mineralization. Geology, v. 24, p.259-262.

Bennett, G., Hillier, R.D., Nentwich, F., Pupuis, C.P., and Pucovsky, M., 1975, Jarvis Lake­Garden River Area, Ontario Department of Mines Preliminary Map, P.I064, Geological Series, scale 1" to Y4 mile.

Ethridge, M., and Bartsch, R, 2000, Exploring for Fe-Oxide Cu-Au deposits - A global perspective of key targeting and ranking criteria. In: Iron Oxide Copper-Gold Deposits: Separating Fact from Fantasy. Vancouver Mining Exploration Group and British Columbia & Yukon Chamber of Mines Short Course Notes, November 16th

, 2000, Vancouver, B.C.

Foose, M.P., and Grauch, V.J.S., 1995, Low-Ti iron oxide Cu-U-Au-REE Deposits. In: E.A. du Bray, ed. Preliminary Compilation of Descriptive Geoenvironmental Mineral Deposit Models, USGS Open File 95-0831, p. 179-183.

Gandhi, S.S., and Bell, R.T., 1995, KirunalOlympic Dam-type iron copper, uranium, gold, silver. In: O.R. Eckstrand, W.D. Sinclair, and R.I. Thorpe, eds., Geology of Canadian Mineral Deposit Types, Geological Survey of Canada, Geology of Canada, No.8, p. 513-522.

Giblin, P., 1982, GoulaisRiver Area, District of Algoma. Ontario Geological Survey, MisceUanous Paper 106, pp. 44-47.

Gow, P.A., Wall, V.J., Oliver, N.H.S., and Valenta, R.K, 1994, Proterozoic iron oxide (Cu-U­Au-REE) deposits: Further evidence of hydrothermal origins. Geology, v. 22, p. 633-636.

Hailstone, M., 2002, Exploration opportunities in Jarvis and Aweres Townships for Diamonds and copper-precious metals.

ODM - GSC, 1963, Aeromagnetic Map, Sault Ste. Marie. Map 2200G, Scale I" to 1 mile.

OGS - GSC, 1979, Regional Lake Sediment and water geochemical reconnaissance data eatem shore Lake Superior. Ontario Geological Survey, Open File Report 5266 and 16 maps, scale 1:250,000.

Oreskes, N., and Hitzman, M.W., 1993, A model for the origin of Olympic Dam-type deposits. In: RV. Kirkham, w.n. Sinclair, R.I. Thorpe and I.M. Duke eds. Mineral Deposit Modeling, Geological Association of Canada, Special Paper 40, p. 615-633.

Pollard, PJ., 2000, Evidence of a magmatic fluid and metal source for Fe-oxide Cu-Au Mineralization. In: T.M. Porter, ed., Hydrothermal Iron Oxide Copper-Gold & Related Deposits: A global Perspective, Volume 1. Australian Mineral Foundation Inc. Adelaide, p. 27-41.

Porter, T.M., 2000; Hydrothermal Iron Oxide Copper-Gold & Related Deposits: A global Perspective, Volume 1. Australian Mineral Foundation Inc. Adelaide, 349p.

Porter, T M., 2002; Hydrothermal Iron Oxide Copper-Gold & Related Deposits: A global Perspective, Volume 2. PGC Publishing, Linden Park, Australia, 377p.

Reeve, J.8., Cross, KC., Smith, R.N., and Oreskes, N., 1990, Olympic Dam copper-uranium­gold-silver deposit. in: F .E. Hughes ed. Geology of the Mineral Deposits of Australia and Papua New Guinea, Australian Institute of Mining and Metallurgy, Monograph No. 14, P. 1009-1035.

27

Vancouver Mining Exploration Group, 2000; Iron Oxide Copper-Gold Deposits: Separating Fact from Fantasy. Vancouver Mining Exploration Group and British Columbia & Yukon Chamber of Mines Short Course Notes, November 16th

, 2000, Vancouver, B.C.

Wall, V.J., 2000, Iron oxide associated ore forming systems: the essentials. In: Iron Oxide Copper-Gold Deposits: Separating Fact from Fantasy. Vancouver Mining Exploration Group and British Columbia & Yukon Chamber of Mines Short Course Notes, November 16th

, 2000, Vancouver, B.c.

28

CERTIFICATE OF AUTHOR

Roger Moss Moss Exploration Services

326 Rusholme Rd., Toronto, ON. M6H 2Z5 Tel: 416-516-6050 Fax:: 416-516-7036

Email: roger.moss@symaptico.ca

I, Roger Moss, P.Geo. do hereby certify that:

1. I am President of Moss Exploration Services, 326 Rusholme Rd., Toronto, ON. M6H 2Z5

2. I graduated with a Ph.D. degree in Geology from the University of Toronto in 2000. In addition, I have obtained a M.Sc. degree in Geology from the University of Toronto in 1995 and a B.Sc. in Geology from the University of the Witwatersrand in 1988.

3. I am a member in good standing of the Association of Professional Geoscientists of Ontario (Registration Number 0192), the Canadian Institute of Mining, Metallurgy and Petroleum, and of the Society of Economic Geologists.

4. I have worked as a geologist for a total of seven years since my graduation from university.

5. I am responsible for the preparation of the technical report titled "Report on 2004 Exploration Program on the Bellevue property, Sault Ste. Marie Mining Division, Ontario" and dated 16 March, 2005 (the "Technical Report") relating to the Bellevue property ofNikos Explorations Ltd. I last visited the Bellevue Property on lOth November 2005 for one day.

6. I have had previous involvement with the property. The nature of my involvement was supervising exploration for Amerigo Resources Ltd during 2002 and 2003.

7.1 am not aware of any material fact or material change with respect to the subject matter of the Technical Report that is not reflected in the Technical Report, the omission to disclose which makes the TechnicaJ Report misleading.

8.1 am not independent ofNikos Explorations Ltd. applying all of the tests in section 1.5 of National Instrument 43-101, since I am an insider of the Company and hold securities ofthe Company.

9. I have read National Instrument 43-101 and Form 43-101Fl, and the TechnicaJ Report has been prepared in compliance with that instrument and form.

10. I consent to the filing of the Technical Report with any stock exchange and other regulatory authority and any publication of the Technical Report by them for regulatory purposes.

Dated this sixteenth day of March, 2005.

Roger Moss Ph.D., P.Geo.

29

APPENDIX 1. SAMPLE DESCRIPTIONS

Rock Sample Descriptions - Bellevue Property Sam~le# Easting Northing RockT~~e Descri~tion

21114 711970 5173820 quartzite-silty coincoidal fracturing, brownish colour-silt, fine grained-aphanetic

21115 711885 5173830 14a fine grain massive basalt, zeolite blebs 2-3mm, qtz viening 4cm, patrs of outcrop have extensive qtz viening, hematite viening 3-5mm

21116 711600 5173770 14a massive aphanetic basalt, greenish-black, wkly mag, otherwise ordinary

21117 711520 5173785 14a fine grain massive basalt, qtz blebs 2-3mm, spec hem <1/2mm, chalcopyrite 1x3mm, along N/S ridge

21118 711150 5173820 14a massive aphanetic basalt, hematite staining in randomly directed cleavages, hematite viening <1/2mm

21119 710890 5173965 14a massive fine grain basalt, <1l2mm viening along cleavages of chalcopyrite blebs and crystals

21120 711060 5174020 14a massive fine gr. bassalt, zeolite blebs 3-5mm, chalcopyrite crystals <1l2mm <5%, qtz viening 2-3mm 1-2cm, hematite viening 2-3mm

21121 711335 5174010 14a fine grain massive basalt, disseminated chalcopyrite 1-2mm sometimes with epidote, disseminated spec hem 112-2mm

21122 711600 5174040 14a massive fine grain basalt, zeolite blebs 3-4mm, disseminated spec hem <1l2mm, qtz blebs/vugs 3-4mm, chalcopyrite <1I2mm, randomly directed cleavages, N/S trending ridge

21123 711640 5174235 14a massive aphanetic basalt, qtz viening 2-3mm 1-2cm, qtz vugs 2-3cm, poorly exposed outrop, hematite staining along cleavages

21124 711555 5174230 14a massive aphanetic basalt, qtz blebslvugs 3-4mm, zeolite blebs 1-2mm, qtz viening 1-2mm, spec hem 112-1 mm, chalcopyrite 112-1 mm

21125 711230 5174270 14a fine grain massive basalt, zeolite blebs elongate 2-3mm, disseminated chalcopyrite <5% <112-1i2mm crystals

09-04-001 710850 5174200 14a fine grain massive basalt, zeolite blebs 2-4mm, spec hem around edges of zeolite blebs, chalcopyrite crystals 1/2-1 mm <5%

09-04-002 710680 5174420 14a fine grain massive basalt bluish-green, zeolite blebs 112-1 mm, chalcopyrite crystals <1/2mm

09-04-003 710935 5174400 qtz-ite maybe a large vien or a glacial erratic 09-04-004 711140 5174430 14a massive aphanetic basalt, tiny specs of chalcopyrite and spec

hem 09-04-005 711650 5174435 14a fine grain massive basalt, zeolite blebs 2-4mm, spec hem

<1/2mm <50/0 09-04-006 711980 5174590 14a N/S trending tiny ridge, fine grain massive basalt, chalcopyrite

112mm grains and crystals <5%, zeolite blebs 2-3mm

09-04-007 711690 5174580 14a fine grain massive basalt, qtz viening along randomly directed cleavages 1-2mm, chalcopyrite cyrstals 1/2-1 mm clustered together in groups of sizes 3-5mm

09-04-008 711210 5174620 14a massive fine grain basalt, 1-2mm zeolite blebs, 1/2-1mm qtz viening, scarce spec hem 112mm crystals <1%

09-04-009 711075 5174620 14a bluish-green massive fine grain basalt, qtz viening 1-3cm 2-5mm, zeolite blebs 2-3mm, possible shearing of rocks? Hard to tell

Sample # Easting Northing Rock Type Description 09-04-011 711820 5174800 14a massive fine grain basalt, extensive qtz viening 3--6em 112·

1 em, zeolite blebs 2-3mm 09-04-012 711730 5175230 14a fine grain massive basalt, qtz vugs 3-5em, qtz viening 2-5mm

2-3cm 09-04-013 712100 5175190 14a fine grain massive basalt. chalcopyrite crystals 112-1mm in

clusters of 1-2mm. qtz viening 1/2-1 em, zeolite blebs 1-4mm

09-04-014 712400 5175430 14a fine grain massive basalt, chalcopyrite crystals 112-1mm <1%, qtz vugs 1/2-1cm

09-04-015 711700 5175410 14a massive fine grain basalt, zeolite blebs 1-2mm <5%, rust coloured cleavages randomly directed, Chalcopyrite specks <5%, chalcopyrite crystals near cleavages 1-2mm in clusters of5-10mm

09-04-016 710980 5175600 14a massive fine grain basalt, qtz vugs 112-2cm, zeolite blebs 1/4-112em, qtz viening 2-3mm, 1/2-1cm

09-04-017 711370 5175640 14a fine grain massive basalt, qtz viening 2-4mm, qtz vugs 112-1em. zeolite blebs 112-2mm

09-04-018 711970 5175540 14a fine grain massive basalt, zeolite blebs 1-3mm, qtz crystals 2-3mm, specs of chalcopyrite

09-04-019 712010 5175775 14a fine grain maSSive basalt. zeolite blebs 2-4mm <5%, specs of chalcopyrite <5%. qtz vugs 1/4-112em

09-04-020 711120 5175820 14a fine grain massive basalt, zeolite blebs 2-3mm, qtz crystals 112mm, chalcopyrite crystals 1/2-1 mm in clusters and small viens

09-04-021 711780 5176025 14a bluish-green fine grain massive basalt, qtz crystals 112-1 mm, qtz viening 112-1 mm, chalcopyrite specks in clusters of 2-3mm and viening, possibly spec hem specs ?

09-04-022 712315 5176375 14a fine grain to aphanetic massive basalt, extremely hard rock, extensive qtz viening 1/2-3mm and 5-10mm, pinkish qtz vlenlng along with qtz vlenlng, so much vlenlng In some areas that the rock looks brecciated but its just qtz viening, qtz vugs 5-10mm

09-04-023 711275 5176380 15a,15b subangular-rounded clasts of granite (qtz, pink k-spr), clasts are 2mm-3em, matrix contains biotite and is sandy

09-04-024 710975 5176185 15a,15b sandy siltstone that grades into/from siltstone, clasts are subangular to rounded 2mm to 15cm, siltstone shows bedding features, sandy siltstone has specs of chalcopyrite (scarce). qtz viening 2-5mm, multi-source clasts, red staining-hematite?

09-04-025 712070 5176565 15b very granular appearance, rough looking planar features, outcrop easily brOken-soft, weathered surface shOWs clasts 2-5mm, SANDY SILTSTONE?, chalcopy specs

09-0-4-025b 712070 5176565 15b down from previous outcrop, better showing, same rock 09-04-026 709800 5173890 12 "G" stands for granitoid-like outcrop/rock. Coarse grained

fractured granitoid, qtz crystals 1-2mm, qtz viening 2-4mm, k-spr crystals 1-2mm, small outcrop

09-04-027 710130 5173880 15b coarse grain silty sandstone, qtz viening 2-4mm, qtz vugs 3-5mm (scarce), K-spr crystals 1-2mm, a lot of the rock has a pinkish hue (k-spr?).

09-04-028 710130 5173860 15b SItIstone to the east Of sandstone, fine grain, maSSive, qtz vieing 1-2mm, greenish-black, back to coarse grain sUty sandstone.

09-04-029 709840 5173990 15b? coarse silty sandstone, k-spr crystals, qtz crystals 1-2mm, qtz viening 1/4-1/2cm 3-4cm

Sample # Easting Northing Rock Type Description 09-04-030 709600 5174040 12 fracturedlbrecciated granitoid, very small outcrop, qtz crystals

1-2mm 09-04-031 709595 5174080 12 small outcrop, 1-2mm qtz-pink qtz, qtz viening 2-3mm, coarse

grain, dark-green rock on weathered surface, bluish-green on fresh surface, k-spr crystals and grains that makes up the 1-2mm pink viening. biotite grains. 1-2mm. rock looks fractured

09-04-032 709845 5174270 15a,15b fine to medium grain, very silty sandstone, conglomerate; clasts are subangularto subrounded multisource, biotite 1-2mm. chalcopyrite 1l2mm, qtz clasts 3-5mm

09-04-033 710050 5174250 15a,15b silty sandstone, coarse grain, conglomerate, matrix supported, dasts are multisource angular to subrounded 2mm-4em

09-04-034 710520 5174250 15a,15b conglomerate, clast supported, multisource clasts 2mm to 3em angular to subrounded, k-spr grains/crystals in matrix

09-04-035 710445 5174450 15a,15b silty sandstone, coarse grain, conglomerate, borderline dast supported, clasts are angular to subrounded 2mm-1em, chalcopyrite crystals, dark mafic subrounded clasts dominate (reminds me of kimberlite)

09-04-036 7100220 5174450 15b coarse grain silty sandstone, angular grains. qtz vienlng 1-2mm

09-04-037 710195 5174450 15a conglomerate, from coarse grain to 1and112cm, multisource for clasts, matrix is fine grain bluish-green, chalcopyrite

09-04-038 709835 5174460 15a,15b conglomerate, clasts are subrounded to subangular, poorly sorted, multi-source. Matrix supported, fine to medium grain, silt-like and sandy-greenlsh-grey. Specks of chalcopyrite. gains of biotite, qtz

09-04-039 710000 5174625 15a,15b conglomerate, clast supported; clasts are 2mm to 2em, multi-source, angular to subangular, matrix is coarse gr silty sandstone

09-04-040 710400 5174640 15a,15b conglomerate. matrix supported, clast are subangular to rounded, multisource, 2mm-1 cm, qtz viening 1 mm-1 cm, matrix is course grain silty sandstone

09-04-041 710590 5174680 15b coarse grain silty sandstone, scarce subangular to rounded clasts 2-3mm, matrix supported

09-04-042 710630 5174690 14a massive fine grain basalt, very hard rock, zeolite blebs, 112-1mm <1%. chalcopyrite specks <1%

09-04-043 710710 5174830 14a fine grain aphanetic basalt, massive, black crystals/minerals (zeolites?) 5% 1mm-1em, qtz vugs.lined with zeolites. chalcopyrite 112mm crystals appears as clusters along cleavages

09-04-044 710540 5174795 14a massive fine grain basalt, chalcopyrite specks 09-04-045 710090 5174800 15a,15b conglomerate, matrix supported, clasts are multisource

angular to subrounded 112-2cm poorly sorted, matrix Is coarse silty sandstone

09-04-046 710090 5175030 15a,15b conglomerate. matrix supported. Matrix; very fine silty sandstone, silt dominates. Clasts; subangular to subrounded, 2mm-5cm, multisource but granite dominates, poorly sorted, smaller clasts are angular, mafic k-spr chalcopyrite. Some chalcopy upto 2mm, qtz viening 1-5cm. Sample has small chalcopyrite vien 2mmx1 em and a large crystal 5mm

09-04-047 710325 5175035 14a very dirty outcrop-difficult to id. Massive fine grain basalt. spec hem, 1 mm crystals, clustered together 5mm <1 %

Sample # Easting Northing Rock Type Description 09-04-048 710750 5175070 14a fine grain massive basalt, circular zeolite blebs 2-3mm <5%,

qtz vugs 2-3mm 5% 09-04-049 710650 5175200 14a massive fine grain basalt, chalcopyrite crystals 112mm

clustered together Smm <1%, rust coloured cleavages 09-04-050 710500 5175200 14a fine grain massive basalt, round zeolite blebs 3-4mm, rust

coloured deavages, qtz viening 2mm-1 cm with pink qtz and chalcopyrite crystals 1·2mm

09-04-051 710115 5175200 14a coarse grain massive basalt, chalcopyrite specks disseminated, rusty cleavages

09-04-052 709465 5173820 12 tiny outcrop, coarse grain, fractured granitoid, k-spr grains/crystals 112-3mm

09-04-053 709330 5173825 12,17 fractured granitoid, matrix supported, coarse grain with k-spr grains/crystals 1-3mm, clasts; sunangular to rounded, 2-5cm, edges of clasts are diffuse-not sharp

09-04-054 709470 5173985 12 coarse grain, pink k-spr. qtz-ite. irregular shaped qtz viens that curve off into different directions 2-1 Oem fractured rock

09-04-055 709550 5174035 12 mafic material, k·spr, fractured granite, crysatalline not granular 1-3mm, k-spr. qtz, biotite

09-04-056 709580 5174070 12 change in appearance of rocks looks less crystalline more granular. granitoid, fractured, in contact with gabbro?

09-04-057 709450 5174245 12 fractured granitoid, messy broken appearance. small outcrop

09-04-058 709415 5174440 12 granitoid, greater appearance of fracturing, red k-spr crystals 1-2mm, qtz crystals 1-3mm. fine grain mafic material, appears as though gneissic granites were fractured

09-04-059 709600 5174425 12 fractured granite. pink k-spr angular 1-2mm, mafic material appears to act as matrix, randomely directed cleavages, qtz viening 2-15mm with sudden breaks

09-04-060 709600 5174425 Dyke/qtz sample from chill margin of dyke. Salt and pepper texture-diabase, margins have 2-3mm qtz viening

09-04-061 709500 5174660 12 fractured granitoid, qtz 'lliening 2-3mm greater continuity, k-spr grainS/dasts look broken and fractured 2mm-1cm, qtz blebs 5-1 Omm, cleavages randomely directed

09-04-062 709340 5174770 12 rough general gneissic appearance-granitoid, qtz and k-spr are angular to subangular 1-2mm. randomly directed cleavages

09-04-063 709370 5174800 ?mafic dyke? coarse crystalline massive inter10ck crystals. igneous mafic. possibly a dyke, cannot see contacts or edges

09-04·064 709700 5174900 15b tan coloured, like sand, granular texture, medium grained. lens of meta-sandstone or qtz-ite, massive, scarce qtz viening randomly directed

09·04-065 709300 5175070 12 angular to subangular k-spr 112-2mm, qtz crystals 1-2mm, fine grained mafics, vague gneissic structure but it appears to be fractured, brecciated. Fractured Granite.

09-04-066 709420 5175240 12 k-spr grains subrounded to rounded 112-2mm, qtz crystals 1/2· 2mm, fine grain mafics gneissic structure. Granitic gneiss.

09-04-067 709745 5175240 15b.15a dark coloured rock very granular, very silty sandstone. conglomerate. matrix supported. dasts are multisource, 112-4cm subrounded to rounded, qtz viening randomly directed 1I4-1cm

09-04-068 710570 5175420 15a,15b conglomerate, subrounded to rounded, clast supported, 1-5cm, multl-source, matrtx Is medium to coarse grain, green coloured

Sample # Easting Northing Rock Type Description 09-04-069 710290 5175400 14a fine grain green massive basalt, randomly directed cleavages,

zeotite tNebs 1/2-1mm <1% 09-04-070 710865 5174115 14a fine gr. Basalt, Sheared? Boulders with specular hematite

veins. rusty appearance BV04-1 711923 5176691 12 Composite sample of 3 narrow (5 to 25cm) gossanous zones

in gneiss. Euhedral pyrite up to 5% occurs as disseminated grains.

BV04-2 711704 5176828 15a,b Composite sample of gossanous rock from Talus at base of cliff. Mostly siltstone with minor conglomerategrey-purpte with trace pyrite and bornite? And specularite vein lets

Sample 10 bvs-01 bvs-02 bvs-03 bvs-04 bvs-05 bvs-06 bvs-07 bvs-08 bvs-09 bvs-10 bvs-11 bvs-12 bvs-13 bvs-14 bvs-15 bvs-16 bvs-17 bvs-18 bvs-19 bvs-20 bvs-21 bvs-22 bvs-23 bvs-24 bvs-25 bvs-26 bvs-27 bvs-28 bvs-29 bvs-30 bvs-31 bvs-32 bvs-33 bvs-34 bvs-35 bvs-36 bvs-37 bvs-38 bvs-39 bvs-40 bvs-41 bvs-42 bvs-43 bvs-44 bvs-45 bvs-46 bvs-47 bvs-48 bvs-49 bvs-50

Location and Description of Soil Samples x Y Oescri ption

712100 5174010 brown, well drained 712000 5174030 dark brown, silty clay-rich, moist 711900 5173990 dark brown, silty clay, moist 711790 5174040 brown silty, moist 711700 5174030 brown, silty, well drained 711600 5174010 brown, silty, well drained 711500 5174050 brown, silty, well drained 711500 5174050 duplicate of bvs-07 711400 5174030 brown, sandy/silty, well drained 711300 5174000 brown, sandy/silty, well drained 711200 5174010 brown, silty clay, wet 711120 5174000 brown, sandy/silty, well drained 711010 5174010 brown, sandy/silty, well drained 710910 5173990 brown, well drained 710800 5174000 brown, sandy/silty, well drained 710810 5174525 brown, sandy/silty, well drained 710900 5174520 brown, sandy/silty, well drained 711000 5174530 brown, sandy/silty, well drained 711000 5174530 Duplicate of bvs-18 711100 5174550 brown, sandy/silty, wet 711200 5174540 brown, sandy/silty, wet 711300 5174560 brown, sandy/silty, well drained 711400 5174590 brown, well drained 711500 5174540 brown, sandy/silty, well drained 711610 5174500 brown, sandy/silty, well drained 711700 5174530 brown, sandy/silty, well drained 711810 5174500 brown, sandy/silty, well drained 711900 5174520 dark brown, silty clay-rich, moist 712010 5174550 dark brown, silty clay-rich, moist 712100 5174570 dark brown, silty clay-rich, moist 712120 5174970 brown, sandy/silty, well drained 711970 5174990 dark brown, silty clay-rich, moist 711900 5175000 brown, silty clay-rich, moist 711800 5175050 brown, sandy/silty, well drained 711800 5175050 duplicate of bvs-34 711700 5175030 brown, sandy/silty, well drained 711585 5174985 brown, sandy/silty, well drained 711630 5175500 brown, sandy/silty, well drained 711630 5175500 duplicate of bvs-38 711700 5175540 brown, sandy/silty, well drained 711790 5175550 dark brown, silty clay-rich, wet 711910 5175540 brown, sandy/silty, well drained 712000 5175530 brown, sandy/silty, well drained 712100 5175520 brown, sandy/silty, well drained 709720 5174510 brown, silty clay-rich, moist 709720 5174510 duplicate of bvs-45 709815 5174540 brown, sandy/silty, well drained 709910 5174510 brown, sandy/silty, well drained 710000 5175050 brown, sandy/pebbly, well drained 710100 5175050 dark brown, moist

Sample ID X bvs-51 bvs-52 bvs-53 bvs-54 bvs-55 bvs-56 bvs-57 bvs-58 bvs-59 bvs-60 bvs-61 bvs-62 bvs-63 bvs-64 bvs-65 bvs-66 bvs-67 bvs-68 bvs-69 bvs-70 bvs-71 bvs-72 bvs-73 bvs-74 bvs-75 bvs-76 bvs-77 bvs-78 bvs-79 bvs-80 bvs-81 bvs-62 bvs-63 bvs-84 bvs-85 bvs-86 bvs-87 bvs-66 bvs-89 bvs-90 bvs-91 bvs-92 bvs-93 bvs-94 bvs-95 bvs-96 bvs-97 bvs-98 bvs-99 bvs-100 bvs-101

710200 710305 710410 710520 710600 710695 710715 710715 710600 710490 710415 710300 710190 710090 710000 709675 709600 709700 709565 709490 709400 709300 709310 709410 709500 709590 709800 709715 709590 709500 709400 709300 709310 709410 709520 709610 709670 709600 709900 709900 710010 710110 710220 710315 710410 710505 710600 710705 710790 710800 710600

y Description 5175050 brown, sandy/pebbly, well drained 5174530 brown, sandy/silty, well drained 5174480 brown, sandy/silty, well drained 5174490 brown, sandy/silty, well drained 5174510 brown, sandy/silty, well drained 5174510 brown, sandy/silty, well drained 5173960 dark brown, silty clay-rich, wet 5173980 Duplicate of bvs57 5174000 brown, sandy/silty, well drained 5173990 brown, sandy/silty, well drained 5174000 brown, silty clay-rich, wet 5173995 brown, sandy/pebbly, well drained 5173995 brown, sandy/pebbly, well drained 5173990 brown, sandy/silty, well drained 5174000 brown, sandy/silty, well drained 5173990 brown, sandy/silty, well drained 5174000 brown, sandy/silty, well drained 5174000 brown, sandy/silty, well drained 5174000 brown, sandy/silty, well drained 5173990 brown, sandy/silty, well drained 5174000 brown, sandy/silty, well drained 5174000 brown, sandy/silty, well drained 5174500 light brown, sandy/silty, Clay-like well drained 5174515 brown, silty clay-rich, wet 5174530 brown, sandy/silty, well drained 5174535 brown, sandy/silty, well drained 5175400 brown, sandy/silty, well drained 5175445 brown, sandy/silty, well drained 5175380 brown, sandy/silty, wet 5175420 brown, sandy/silty, well drained 5175400 red- brown, sandy/silty, Clay-like well drained 5175345 brown, sandy/silty, moist 5175000 brown, sandy/silty, well drained 5174960 brown, sandy/silty, wet 5175035 brown, sandy/silty, well drained 5175000 grey- brown, sandy/silty, Clay-like wet 5175045 brown, sandy/silty, well drained 5175000 brown, sandy/silty, well drained 5174980 brown, sandy/silty, pebbly, well drained 5174960 duplicate of bvs-69 5175000 brown, sandy/silty, well drained 5175065 brown, sandy/silty, pebbles, well drained 5175020 dark brown, sandy/silty, well drained 5175065 brown, sandy/silty, pebbles,well drained 5175020 brown. sandy/silty, well drained 5174990 brown, sandy/silty, well drained 5175060 brown, sandy/silty, well drained 5174995 brown, sandy/silty, well drained 5175005 brown, sandy/silty, well drained 5175460 brown, sandy/silty, well drained 5175460 duplicate of bvs-100

Sample 10 X bvs-102 bvs-103 bvs-104 bvs-105 bvs-106 bvs-107 bvs-108 bvs-109 bvs-110 bvs-111 bvs-112 bvs-113 bvs-114 bvs-115 bvs-116 bvs-117 bvs-118 bvs-119 bvs-120 bvs-121 bvs-122 bvs-123 bvs-124 bvs-125 bvs-126 bvs-127 bvs-128

710700 710600 710500 710400 710285 710215 710100 709990 709900 712030 711995 711995 711925 711800 711690 711600 711505 711400 711350 711170 711100 711010 710900 710905 710905 711000 711120

y Description 5175475 brown, sandy/silty, well drained 5175405 brown, sandy/silty, well drained 5175435 brown, sandy/silty, well drained 5175395 brown, sandy/silty, well drained 5175415 brown, sandy/silty, well drained 5175415 dark brown, sandy/silty, moist 5175375 brown, sandy/silty, well drained 5175390 dark brown, sandy/silty, well drained 5175390 dark brown, sandy/silty, well drained with lots of gravel 5176500 brown, sandy/silty, well drained 5176500 brown, sandy/silty, well drained 5176500 duplicate of bvs-112 5176480 brown. sandy/silty, well drained 5176450 brown, sandy/silty, pebbles, well drained 5176460 brown, sandy/silty. pebbles, well drained 5176500 brown, sandy/silty, pebbles, well drained 5176500 dark brown, sandy/silty, well drained 5176500 brown, sandy/silty. well drained 5176500 brown, sandy/silty, well drained 5176415 brown. sandy/silty, well drained 5176500 brown, sandy/silty, well drained 5176505 brown, sandy/silty, pebbles, well drained 5176500 brown, sandy/silty, well drained 5175920 brown, sandy/silty, well drained 5175920 duplicate of bvs-125 5176010 brown, sandy/silty, well drained 5175980 brown. sandy/silty, well drained

APPENDIX 2. ASSAY CERTIFICATES

Quality Analysis ...

NIKOS EXPLORATIONS LTD. 326 RUSHOLME RD. TORONTO, ON M6H 2Z5 ATTN: ROGER MOSS

57 ROCKS(PREP.REV5)

Innovative Technologies

Invoice No. : Work Order: Invoice Date: Date Submitted: Your Reference: Account Number:

CERTIFICATE OF ANALYSIS

were submitted for analysis.

A04-3002 A04-3002

26-0CT-04 04-0CT-04

BELLEVUE 4317

The following analytical packages were requested. Please see our current fee schedule for elements and detection limits.

REPORT A04-3002 CODE 1H-INAA (INAAGEO. REV1) REPORT A04-3002B CODE 1H-TOTAL DIGESION ICP(TOTAL.REV2)

This report may be reproduced without our consent. If only selected portions of the report are reproduced, permiSSion must be obtained. If no instructions were given at time of sample submittal regarding excess material, it will be discarded within 90 days of this report. Our liability is limited solely to the analytical cost of these analyses. Test results are representative only of material submitted for analysis.

CERTIFIED BY :

DR E.HOFFMAN/GENERAL MANAGER

ACTWAnON LABORATORIES LTD.

1336 Sandhill Drive, Ancaster, Ontario Canada L9G 4V5 TWPHONE +1.905.648.9611 or +1.888.228.5227 FAX +1.905.648.9613

E-MAIL ancaster@actiabs.com ACTI.ABS GROUP WEBSITE http://www.actlabs.com

Activation Laboratories Ltd. Work Order: A04-3002 Report: A04-3002

Sample ID Au Ag As Ba Br Ca Co Cr Cs Fe Hf Hg Ir Mo Na Ni Rb Sb Sc Se Sn Sr Ta Th U W Zn La Ce Nd Sm Eu Tb Yb Lu Mass ppb ppm ppm ppm ppm % ppm ppm ppm % ppm ppm ppb ppm % ppm ppm ppm ppm ppm % % ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm 9

21114 32 -5 6.6 1100 -0.5 -1 5 93 3 0.71 3 -1 -5 -1 0.33 -20 164 0.3 2.1 -3 0.04 -0.05 -0.5 4.2 1.4 -1 50 14.4 31 -5 1.8 0.6 -0.5 0.6 0.09 25.88

21115 7 -5 -0.5 730 -0.5 3 34 49 -1 5.76 2 -1 -5 -2 3.91 50 -15 -0.1 26.1 -3 -0.02 -0.05 -0.7 9.1 -0.5 -1 100 16.6 33 -5 2.6 0.6 -0.5 1.9 0.22 25.41 21116 -2 -5 -0.5 830 -0.5 3 39 25 -1 8.45 3 4 -5 -1 2.70 -20 -15 -0.1 23.1 -3 -0.02 -0.05 -0.6 3.6 -0.5 -1 100 24.2 48 25 3.9 1.6 -0.5 2.2 0.32 27.65 21117 -2 -5 -0.5 970 -0.5 4 45 50 -1 6.91 2 -1 -5 -1 2.23 80 47 -0.1 23.9 -3 -0.02 -0.05 -0.5 1.3 1.2 -1 90 10.6 20 19 1.9 0.8 -0.5 1.1 0.17 29.78 21116 -2 -5 11.3 310 -0.5 5 45 50 -1 8.76 2 -1 -5 -1 1.76 60 47 0.3 30.5 -3 -0.02 -0.05 -0.5 2.7 -0.5 -1 120 14.0 32 -5 2.6 1.2 -0.5 2.3 0.36 26.63 21119 11 -5 3.0 400 -0.5 3 43 97 -1 7.07 2 -1 -5 -1 3.27 110 46 0.5 26.5 -3 -0.02 -0.05 -0.6 2.0 -0.5 -1 130 10.1 23 17 1.9 0.9 -0.5 1.7 0.30 30.35 21120 -2 -5 -0.5 240 -0.5 -1 44 75 -1 7.75 2 -1 -5 -1 2.62 65 -15 0.3 27.7 -3 -0.02 -0.05 -0.5 2.4 -0.5 -1 135 10.8 23 9 1.9 0.7 -0.5 1.6 0.23 33.46 21121 -2 -5 -0.5 80 -0.5 3 33 22 -1 7.05 3 -1 -5 2 3.57 -20 -15 -0.1 21.1 -3 -0.02 -0.05 -0.7 4.2 1.7 -1 100 16.8 34 20 2.8 1.3 -0.5 1.4 0.22 25.44 21122 -2 -5 -0.5 500 -0.5 4 46 64 -1 7.20 2 -1 -5 -1 2.66 105 -15 -0.1 27.4 -3 -0.02 -0.05 -0.6 1.0 -0.5 -1 110 7.9 17 13 1.8 0.8 -0.5 1.1 0.16 26.32 21123 -2 -5 3.0 1500 -0.5 6 43 50 -1 9.28 3 -1 -5 -1 1.05 -20 87 -0.1 35.1 -3 -0.02 -0.05 -0.5 3.2 -0.5 -1 97 15.4 34 14 3.0 1.3 -0.5 3.0 0.52 28.17 21124 -2 -5 -0.5 350 -0.5 3 50 58 -1 7.42 2 -1 -5 -1 2.54 100 -15 -0.1 26.1 -3 -0.02 -0.05 -0.5 1.5 -0.5 -1 85 9.6 21 7 2.0 0.6 -0.5 1.0 0.22 30.30 21125 -2 -5 -0.5 90 -0.5 2 40 21 -1 7.60 3 -1 -5 -1 3.76 -20 -15 -0.1 21.6 -3 -0.02 -0.05 -0.6 4.3 -0.5 -1 80 19.2 36 -5 2.6 0.9 -0.5 1.5 0.22 26.20 09-04-001 -2 -5 -0.5 130 -0.5 4 41 110 -1 7,48 2 -1 -5 -1 3.52 130 -15 -0.1 28.0 -3 -0.02 -0.05 -0.6 1.6 -0.5 -1 100 9.6 18 18 1.8 0.9 -0.5 1.6 0.22 26.76 09-04-002 -2 -5 2.8 125 -0.5 3 41 74 -1 7043 2 ·1 -5 -1 3.59 180 -15 -0.1 28.8 -3 -0.02 -0.05 3.5 3.8 -0.5 -1 116 11.6 25 6 2.4 -0.2 -0.5 2.2 0.42 26.59 09-04-003 -2 -5 0.8 -SO 1.0 -1 1 207 -1 0.34 -1 ·1 -5 -1 0.03 -20 -15 0.1 0.5 -3 -0.01 -0.05 -0.5 1.1 -0.5 -1 -50 5.3 13 9 0.5 -0.2 -0.5 -0.2 -0.04 28.49 09-04-004 -2 -5 1.6 130 -0.5 3 42 61 -1 9.12 2 -1 -5 2 2.70 60 -15 -0.1 33.1 -3 0.10 -0.05 -0.5 2.4 -0.5 -1 B5 14.5 30 -5 2.8 0.9 -0.5 2.6 DAD 27.83 09-04-005 -2 -5 0.7 135 -0.5 3 43 25 2 8.75 3 ·1 -5 -1 2.64 -20 68 0.2 21.4 -3 -0.01 -0.05 -0.5 6.4 1.9 -1 141 27.5 55 23 4.3 1.4 -0.5 1.8 0.30 29.08 09-04-006 ·2 -5 4.0 750 -0.5 3 44 20 -1 7.94 6 -1 -5 ·1 2.73 -20 -15 -0.1 lB.l -3 -0.02 ·0.05 -0.6 6.0 1.6 -1 120 56.9 99 SO 7.0 2.6 -0.5 1.8 0.34 26.27 09-04·007 -2 -5 1.8 17 -0.5 3 37 16 -1 8.03 3 -1 -5 ·1 2.75 -20 -15 -0.1 18.4 -3 ·0.01 -0.05 -0.5 5.2 23 -1 91 27.2 54 18 4.0 1.5 -0.5 1.4 0.22 29.14 09-04-008 ·2 -5 -0.5 360 ·0.5 3 48 39 -1 9.71 2 -1 -5 -1 2.14 -20 -15 -0.1 32.8 -3 -0.01 -0.05 -0.5 2.8 -0.5 -1 100 13.3 28 16 2.6 0.8 -0.5 2.3 0.34 30.19 09-04-009 9 -5 -0.5 -50 -0.5 3 34 119 -1 6.78 2 -1 -5 -1 2.10 -20 -15 ·0.1 21.9 -3 -0.01 -0.05 -0:5 2.7 -0.5 -1 112 14.1 30 -5 2.2 1.0 -0.5 1.8 0.30 28.07 09-04-010 -2 -5 -0.5 -50 -0.5 4 48 55 -1 6.80 1 -1 -5 -1 3.17 100 -15 -0.1 24.4 -3 -0.02 -0.05 -0.5 1.2 -0.5 -1 65 7.2 15 15 1.7 0.7 ·0.5 0.8 0.14 27.09 09-04-011 -2 -5 -0.5 880 -0.5 -1 30 126 -1 4.87 3 -1 -5 -1 1.25 50 64 -0.1 13.0 -3 -0.01 -0.05 ·0.5 3.8 -0.5 -1 60 17.7 37 16 2.6 1.0 ·0.5 0.8 0.14 26.64 09-04-012 -2 -5 -0.5 330 -0.5 4 35 31 -1 7.02 3 -1 -5 ·1 1.92 ·20 50 0.3 16.1 -3 -0.01 -0.05 -0.5 3.7 -0.5 -1 90 24.2 46 17 3.4 1.4 -0.5 1.2 0.20 28.47 09-04-013 8 -5 ·0.5 150 -0.5 4 26 98 2 7.65 2 -1 ·5 -1 1.72 ·20 -15 0.4 9.1 -3 -0.01 -0.05 -0.5 1.8 1.2 -1 101 19.4 37 21 3.0 2.4 -0.5 1.3 0.18 26.75 09-04-014 6 -5 1.7 380 -0.5 5 27 27 -1 6.86 5 ·1 -5 -1 2.90 -20 -15 -0.1 13.9 -3 ·0.01 -0.05 -0.5 5.1 -0.5 -1 120 39.4 71 29 5.6 2.4 0.9 1.8 0.22 2844 09-04-015 -2 -5 ·0.5 160 -0.5 3 39 63 -1 5.91 2 ·1 -5 -1 3.14 100 -15 -0.1 23.4 -3 -0.01 -0.05 -0.5 1.3 -0.5 -1 100 8.4 18 -5 1.6 0.8 -0.5 0.9 0.15 29.43 09-04-016 -2 -5 -0.5 360 -0.5 3 45 49 -1 8.18 2 -1 -5 -1 1.96 60 -15 -0.1 28.4 -3 -0.01 -0.05 -0.5 2.8 ·0.5 -1 108 11.8 25 12 2.2 1.1 -0.5 1.8 0.31 2B.67 09-04-017 -2 -5 4.B 890 -0.5 -1 33 50 ·1 7.50 3 -1 -5 -1 1.39 -20 71 0.4 lB.4 -3 -0.01 -0.05 -0.5 4.2 -0.5 -1 151 15.8 34 lB 3.0 1.0 -0.5 1.8 0.30 24.66 09-04-016 -2 -5 2.4 320 -0.5 3 26 32 -1 6.27 4 -1 -5 -1 3.27 -20 41 -0.1 16.0 -3 -0.01 -0.05 -0.5 5.7 -0.5 -1 82 28.0 5B 25 4.0 1.2 -0.5 1.5 0.22 27.05 09-04-019 10 -5 1.6 790 -0.5 2 40 36 2 8.28 6 -1 -5 -1 3.20 -20 -15 -0.1 16.9 -3 -0.01 -0.05 -0.5 5.0 2.1 ·1 119 31.2 64 32 5.5 2.0 -0.5 2.0 0.32 25.98 09·04-020 -2 -5 8.0 590 -0.5 4 47 66 -1 6.32 ·1 -1 -5 2 2.83 80 -15 -0.1 27.9 -3 -0.01 -0.05 -0.5 1.1 -0.5 -1 110 4.4 -3 -5 1.1 0.5 -0.5 1.3 0.21 28.53 09-04-021 -2 -5 3.7 170 -0.5 -1 40 57 -1 6.83 2 ·1 -5 -1 1.46 -20 -15 -0.1 16.2 ·3 -0.01 -0.05 -0.5 1.7 -0.5 -1 152 7.0 14 a 1.6 0.6 -0.5 1.2 0.15 30.37 09-04-022 -2 -5 2.3 460 -0.5 4 42 179 -1 7.36 2 -1 -5 -1 1.80 140 SO -0.1 29.9 -3 -0.01 -0.05 -0.5 -0.2 -0.5 -1 132 3.1 12 -5 1.4 0.7 -0.5 2.1 0.37 41.32 09-04-023 -2 -5 3.5 490 -0.5 -1 14 90 -1 4.38 2 -1 -5 3 2.94 -20 33 -0.1 8.2 -3 -0.01 -0.05 -0.5 2.6 2.3 -1 90 13.0 25 11 1.4 0.7 -0.5 1.0 0.17 34.62 09-04-024 -2 -5 -0.5 360 -0.5 2 20 109 -1 3.43 2 -1 -5 -1 2.63 78 29 -0.1 13.4 -3 -0.01 -0.05 -0.5 3.4 1.4 -1 ·50 14.0 27 12 1.8 0.6 -0.5 1.2 0.21 31.29 09-04-025 -2 -5 4.5 630 -0.5 -1 33 130 -1 5.78 4 -1 ·5 3 1.85 100 46 -0.1 18.2 -3 -0.01 ·0.05 ·0.5 7.1 5.4 -1 137 10.3 23 9 1.8 0.7 -0.5 1.6 0.29 31.42 09-04-026 -2 -5 1.6 100 -0.5 -1 11 114 -1 2.80 3 -1 ·5 2 2.87 50 46 0.3 4.8 -3 -0.01 -0.05 ·0.5 4.9 -0.5 -1 113 46.9 78 29 4.3 1.3 -0.5 0.5 0.09 29.77 09-04-027 -2 -5 1.9 340 3.6 -1 12 146 -1 1.16 2 -1 -5 7 0.87 -20 63 -0.1 3.0 -3 -0.01 -0.05 1.1 12.8 6.3 -1 ·50 13.8 28 8 1.4 0.4 -0.5 0.9 0.12 28.88 09-04-028 6 -5 2.0 740 -0.5 -1 12 98 4 3.04 6 -1 -5 -1 0.54 -20 202 0.2 10.0 -3 -0.01 -0.05 1.4 18.6 11.7 -1 -50 36.0 70 21 3.5 0.8 -0.5 1.5 0.21 31.72 09-04-029 -2 -5 3.1 330 1.8 -1 5 134 2 1.89 1 -1 -5 6 0.06 -20 58 0.3 3.1 ·3 -0.01 -0.05 -0.5 31.0 -0.5 ·1 50 9.0 24 6 1.1 OA -0.5 2.4 0.39 26.74 09-04-030 -2 7 4.7 610 -0.5 -1 6 118 3 1.26 2 ·1 5 3 0.07 -20 71 0.4 2.1 -3 -0.01 -0.05 -0.5 2.0 -0.5 3 542 11.6 25 7 1.2 0.4 ·0.5 0.3 -0.05 30.64 09-04-031 -2 -5 3.9 390 -0.5 3 45 83 4 6A9 1 -1 -5 -1 2.28 100 25 0.5 29.9 -3 -0.01 -0.05 -0.5 0.9 -0.5 5 140 5.3 11 -5 1.2 0.5 -0.5 2.0 0.28 37.01 09-04-032 -2 -5 3.4 430 -0.5 -1 25 122 2 4.96 3 1 5 2 003 70 55 0.4 16.1 -3 -0.01 -0.05 -0.5 4.2 2.7 -1 91 17.9 39 11 2.3 0.8 -0.5 1.4 0.24 32.20 09-04-033 4 ·5 1.3 -50 -0.5 -1 30 157 1 5.42 2 -1 -5 -1 0.77 75 22 0.3 19.3 -3 -001 -0.05 -0.5 3.9 3.2 ·1 72 13.6 28 12 2.0 0.8 ·0.5 1.6 0.28 32.59 09-04-034 -2 -5 2.4 460 -0.5 -1 38 103 -1 6.78 2 -1 -5 2 2.53 85 -15 0.2 24.9 -3 -0.01 -0.05 -0.5 2.8 -0.5 -1 150 7.9 17 10 1.B 0.6 -0.5 1.6 0.28 34.67 09-04-035 -2 -5 6.4 440 -0.5 -1 27 124 ·1 5.03 3 -1 ·5 4 1.99 70 58 0.4 15.1 -3 -0.01 -0.05 -0.5 5.2 2.0 -1 90 15.7 31 18 2.2 0.9 -0.5 1.5 0.24 30.30 09-04-036 -2 -5 1.4 530 1.0 ·1 6 187 2 1.31 2 -1 -5 4 0.75 -20 90 -0.1 3.6 -3 ·0.01 -0.05 -0.5 14.6 2.4 -1 57 17.9 35 15 1.6 0.5 -0.5 0.7 0.13 31.67 09-04-037 -2 -5 10.0 250 -0.5 -1 28 133 2 4.62 2 -1 -5 2 1.67 60 30 0.3 15.5 -3 -0.01 -0.05 -0.5 5.0 3.3 4 120 13.4 27 12 1.B 0.7 ·0.5 1.4 0.22 33.01 09-04-038 12 -5 3.0 390 ·0.5 -1 36 144 -1 6.10 3 -1 -5 2 0.90 129 48 0.3 24.8 -3 -0.01 -0.05 -0.5 3.5 1.5 -1 75 18.5 37 15 3.0 1.2 0.6 2.3 0.39 35.78 BV04-1 -2 -5 ·0.5 -SO -0.5 -1 115 121 -1 2.01 2 -1 -5 -1 3.38 ·20 -15 -0.1 2.5 -3 -0.01 -0.05 -0.5 3.3 -0.5 -1 -50 21.9 38 18 2.2 0.6 -0.5 0.4 0.08 32.66 BV04-2 ·2 -5 2.0 180 -05 -1 46 156 -1 3.05 2 -1 -5 4 3.39 -20 -15 0.2 4.0 -3 -0.01 -0.05 -0.5 3.5 1.4 -1 -SO lB.3 34 12 1.8 0.5 -0.5 0.6 0.12 34.18 BV04-3 4880 142 36.4 -61 -0.5 -1 lB 35 -1 26.7 ·1 32 -5 19 0.03 ·20 -15 4.1 0.5 121 ·0.03 -O.OB 0.9 -0.2 -0.6 -1 38600 1.6 -3 -5 0.3 ·0.2 ·0.5 0.5 -0.05 14.68 BV04·4 -6 1330 356 ·130 -1.3 -1 72 -5 -1 9.96 ·1 ·1 -7 B 0.01 -20 -15 72.2 -0.1 -3 0.55 -0.05 -0.5 2.0 -1.1 -2 275000 10.3 19 -5 1.2 -0.2 -0.5 -0.2 -0.05 24.61 DMOl -2 -5 -0.5 ·50 -0.5 8 56 606 -I 5.42 -1 -1 -5 2 0.58 254 ·15 -0.1 39.9 -3 -0.01 -0.05 -0.5 0.6 -0.5 -1 101 40 9 -5 1.1 ·0.2 -0.5 0.6 0.12 35.82 09-04-025B -2 -5 3.1 580 2.2 -1 6 113 3 0.80 2 -1 -5 4 1.74 -20 115 ·0.1 1.6 -3 -0.01 -0.05 -0.5 3.3 ·0.5 ·1 -50 6.6 14 6 0.9 -0.2 -0.5 0.4 0.06 30.92

1of2

Activation Laboratories Ltd. Work Order: A04·3002 Report: A04·3002

SamplelD Au Ag As Ba Br Ca Co Cr Cs Fe Hf Hg Ir Me Na Ni Rb Sb SI: Se Sn Sr Ta Th U W Zn La Ce Nd Sm Eu Tb Yb Lu Mass ppb ppm ppm ppm ppm % ppm ppm ppm % ppm ppm ppb ppm % ppm ppm ppm ppm ppm % % ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm 9

DM02 -2 -5 1,3 -50 1,5 -1 2 199 -1 0,26 -1 -1 -S 8 0,03 -20 -IS -0,1 0,3 -3 -0,01 -O,OS -0,5 -0,2 -o,s -1 -50 -O,S -3 -S -0,1 -0,2 -o,s -0,2 -0,05 32,96 09-04-018Pulp Duplic -3 -5 -0.5 263 -0.5 -1 29 36 -1 7.18 6 -1 -S 3 3.67 -SO -IS -0,1 18,2 -3 -0.02 -0.05 -0,7 S.O 2.9 -1 80 32,S 76 2S 4.8 1.3 -0,5 1.9 0.28 22.47 DM02Puip Duplicates -2 -S 0.9 -50 1.9 -1 2 212 -1 0,27 -1 -1 -S 10 0.03 -20 -IS -0,1 0,3 -3 -0.01 -O.OS -O.S -0.2 -O,S -1 -SO ·O,S -3 -S -0.1 -0.2 -O,S -0.2 -0.05 25,56 09-04-038Preparafien -2 -5 3,2 400 -0,5 -1 39 119 -1 6.93 3 -1 -5 2 0.98 100 64 0.3 27.3 -3 -002 -O.OS -O.S 4.7 -O.S -1 97 17.7 41 16 3.3 1.3 -O.S 2,7 0.43 26.66 BLANK -2 -5 -0,5 -50 -0,5 -1 -1 -5 -1 -0.01 -1 -1 -S -1 -0,01 -20 -15 -0,1 -0.1 -3 -0,01 -0.05 -0.5 -0,2 -0.5 -1 -50 -0,5 -3 -5 -0.1 -0.2 -0,5 -0.2 -0.05 30,00 DMMAS-9-1 547 -5 2310 450 4.9 8 68 130 3 7.41 2 -1 -5 -2 0,76 -20 53 15.5 18.7 -3 -0.03 -0,05 -0,8 0.9 -0.5 20 264 11.8 24 16 3,0 1.3 -0.5 3.3 0.54 20.72 DMMAS-9-2 563 -5 2350 600 2.9 8 67 128 2 7.66 3 -1 -5 -2 0,78 -30 34 15.6 19.2 -3 -0.03 -0.05 -0,7 -0.3 -0.5 21 192 12,3 23 -5 3,1 1.2 -O,S 3.3 0.54 20.32 DMMAS-9-3 575 -5 2290 S70 3.3 9 66 126 -1 7.44 4 -1 -5 -2 0.7S -30 30 6.5 18.S -3 -0,03 -O,OS 0.7 1.4 -O,S 18 286 11.8 23 -S 3.0 1.2 -O.S 3.4 0.54 20.71 DMMAS-9-4 561 -S 2210 560 4.3 7 64 120 2 7,29 3 -1 -5 -1 0.73 -30 33 5.8 18,2 -3 -0,03 0,09 -0,6 1.4 -0.5 17 194 11.8 23 -S 2.9 1.1 -0.5 3.6 0.55 20.11 DMMAS-9-5 S29 -S 2080 490 4.3 6 S9 136 2 6.73 2 -1 -S -1 0.68 -30 38 13.4 17.0 -3 -0.02 -O.OS -0.6 0.7 -0,5 17 214 10.8 24 -S 2.7 1.3 -0.5 3.1 0.S2 20.54 DMMAS-9-6 57S -S 2260 510 4,2 6 6S 121 -1 7.74 3 -1 -5 3 0.74 -30 4S 14.0 19.0 -3 -0.03 -O.OS -0.8 1.2 -0.6 20 240 12.2 2S -S 3.1 1.4 -O.S 3.S 0.S3 20.11

DMMAS-9 Accepted S27 2700 523 3,9 8 69 lIS 6,89 2 0.74 37 6,9 15.9 1.0 13 233 12 20 10 3.0 0,9 2.9 0.46

20f2

Activation Laboratories Ltd. Work Order No. A04-3002 Report No. A04-3002B

'Near Tolal' Digestion Analysis: COde lH

SAMPLE Ag Cd Cu Mo Mo Ni Pb ppm ppm ppm ppm ppm ppm ppm

21114 OA 0,5 52 594 2 12 24 21115 -0,3 0,8 38 1398 2 52 13 21116 -0,3 0.5 112 1388 2 41 5 21117 -0.3 0,9 85 1782 2 83 12 21118 -0,3 0,8 96 1879 ·1 59 10 21119 -0,3 0.8 431 1961 1 112 39 21120 -0,3 0.9 82 1349 ·1 91 4 21121 -0.3 0,9 94 1706 3 42 ·3 21122 -0,3 0,8 45 1444 -1 110 7 21123 ·0.3 0,6 129 1595 2 43 9 21124 -0,3 0,5 189 1697 2 106 5 21125 -0.3 0,6 63 1523 1 42 6 09-04-001 -0.3 0.6 203 1565 2 128 15 09-04-002 -0.3 0,8 18 1430 ·1 75 ·3 09-04-003 -0.3 -0.3 7 44 ·1 7 8 09-04-004 -0.3 0,9 103 1717 3 66 5 09-04-005 (1) -0.3 0,7 74 1596 1 23 4 09-04-005 (2) -0.3 0.7 74 1611 2 26 -3 09-04-006 -0,3 0,9 44 1684 2 21 20 09-04-007 -0.3 0,6 58 1609 2 14 4 09-04-008 -0,3 0.5 105 1504 2 67 ·3 09-04-009 -0,3 0,8 27 1639 2 56 -3 09-04-010 -0,3 0.6 212 1377 ·1 101 4 09-04-011 -0.3 0.4 19 937 ·1 52 5 09-04-012 -0.3 0.8 187 1323 2 32 10 09-04-013 ·0.3 OA 79 1504 2 42 24 09-04-014 -0,3 0.8 141 1108 2 30 ·3 09-04-015 -0.3 1.0 62 1360 ·1 97 ·3 09-04-016 -0,3 0.9 113 1439 2 63 4 09-04-017 -0,3 0,7 59 1082 ·1 38 5 09-04-018 -0,3 0,6 57 1131 1 13 4 09-04-019 (1) -0,3 0.6 247 1118 2 35 ·3 09-04-019 (2) -0,3 0,7 259 1123 ·1 39 8 09-04-020 -0,3 1.1 79 1123 3 77 4 09-04-021 -0,3 0,5 96 1269 ·1 46 21 09-04-022 -0,3 1.0 15 2576 -1 139 13 09-04-023 -0,3 0.5 22 1022 4 33 17 09-04-024 .Q,3 OA 91 705 -1 66 7 09-04-025 .Q.3 0.9 54 1554 4 111 10 09-04-026 ·0.3 0.5 4 715 2 53 -3 09-04-027 -0.3 -0.3 6 116 7 16 9 09-04-028 -0.3 0,4 8 209 1 41 10 09-04-029 -0.3 -0.3 18 377 8 22 4 Q9.04-03O 5.0 2.2 38 1631 4 22 1459 09-04-031 -0,3 0.8 80 1546 -1 95 17 09-04-032 ·0.3 0,6 8 914 3 69 33 09-04-033 -0.3 0.6 21 1034 ·1 81 -3

Clients .... adIILsed to obtain .... y.for Ag>I00 ppm and 1'1»5000 ppm due to potential solubility ~ .... ,

VaI •• sfore., Ni, In,''' o",.ter than 1'" .hoUld be ... ayed if acc:uracy beHerlhan+l-lo.15% 10 required,

Val ... s .bo"" I'" .re for Informational purpoaa. only and should not be relied upon for promotional or 0'" reserve calculations. Assays are recommended for thls purpose. Sulphur will precipilAlte in .ample. conI8ining ma ...... ulphides,

Negative values indicate less than the reporting limit _ indicate. greater lIlan 10%

Zn AI ppm %

61 2,77 107 4.72 106 4,63 95 4,64

118 4,54 142 4.90 144 5.07 104 4,73 112 5,30 100 4.21 88 4.88 99 3.65

106 3.84 106 5.04

3 0.28 119 4.83 126 4.73 127 4.85 123 4,74 118 4.74 115 4,49 93 4,45 90 4,51 75 3,59

117 4,06 125 3,64 99 4.13 92 5,09

121 4,46 127 3,98 74 4.26

148 4,19 158 5.00 107 7.96 157 3.62 176 5.79 85 7.95 65 4.94

133 5,62 122 5.32 16 2.60 24 5.58 66 3,74

602 3,49 132 7.29 99 4.45 83 4.89

Be Bi ppm ppm

1 -2 2 -2 2 -2 1 ·2 2 -2

-1 -2 1 -2 2 -2 1 ·2 1 ·2

-1 -2 2 ·2 1 ·2 1 ·2

·1 ·2 1 ·2 2 -2 2 ·2 2 ·2 2 ·2

·1 -2 1 -2

·1 -2 -1 ·2 1 -2 1 ·2 4 ·2

·1 ·2 ·1 ·2 1 ·2 3 ·2 3 -2 3 ·2 1 3

·1 -2 ·1 -2 1 -2 1 -2 1 -2 2 -2

-1 ·2 2 -2 1 -2

12 ·2 3 -2 1 -2 1 ·2

Page 1 of 2 2511012004

9:25AM

ca K Mg P Sr Ti V Y S % % % % ppm % ppm ppm %

0,52 4,10 0.41 0.026 50 0,09 17 7 0,052 3,04 0,66 2.78 0.044 140 0.37 192 22 0,011 3,57 0,54 2.44 0.095 269 0.82 315 24 0.011 5.16 0.97 4,00 0,041 326 0,49 257 12 0.014 5.51 0,54 3.17 0.066 281 0.56 303 23 0,017 4,52 0,26 3.18 0,049 186 0.48 257 19 0,059 1.69 0.18 3,54 0.046 135 0.48 275 20 0.010 4,30 0.16 2.28 0.078 170 0.70 287 17 0.016 3.92 0.60 4,77 0,041 309 OA8 258 12 0.002 5.45 1,47 3,03 0,071 307 0.65 332 26 0,107 4.72 0,30 4,13 0.050 237 0,50 255 13 0,026 3.85 0.11 2,29 0.081 120 0.66 279 11 0,009 3.86 0,25 3.42 0,043 116 0.43 254 12 0.026 3.21 0,31 3.21 0,063 113 0.55 290 24 0,006 0,04 0.16 0,04 0.004 10 0.02 6 2 0.004 4.45 0,13 3.53 0.075 109 0.64 332 29 0,067 3,31 0.33 2,67 0,161 99 0.94 253 19 0.013 3,33 0,34 2.71 0,163 99 0,94 254 20 0,014 4,36 0,81 2.28 0.137 323 0,85 280 28 0.040 3AO 0.41 3.02 0,171 159 0,87 240 20 0,012 4,42 0.22 3.03 0.062 136 0.58 317 24 0.032 4,33 0.08 3,13 0,049 107 0,38 210 19 0.006 4,78 0,11 4,10 0,039 119 OA3 246 10 0,023 1,82 1.83 2.34 0.085 115 0.51 220 10 0,002 3.66 0.49 2.01 0,098 273 0.75 298 16 0.023 5,07 0.36 1.86 0.065 758 0.46 334 18 0.008 4A2 1.17 1.78 0.150 127 0.95 225 26 0,022 3.81 0.26 3.99 0,036 241 0.49 277 11 0.009 3,79 0.18 2.87 0,055 136 0,52 294 20 0,039 1,05 1.35 2,43 0.134 57 0.67 261 20 0.072 3,38 0,51 1,84 0,134 287 0.77 237 21 0.Q15 2.16 1,64 1.95 0.152 111 0,91 223 22 0.014 2,27 1,72 2,03 0.134 125 0.52 146 26 0,014 3,50 1,01 5,08 0,033 115 0,36 231 20 0,123 0.65 OA7 2.60 0,053 70 0,33 210 14 0.066 5,81 1.15 4.62 0,034 181 0,70 288 23 0,043 1,54 1,73 1.93 0.049 233 0.30 84 21 0,087 1,65 1.30 2,26 0.045 255 0,38 144 15 0.037 0.70 2.13 3.85 0,049 135 0,46 229 19 0,251 0,32 0.99 3.14 0.106 101 0,22 75 6 0.006 0,06 3,28 0.62 0.017 39 0.14 28 9 0,058 0.12 5.78 2.04 0,051 68 0,37 100 18 0,102 0.15 1.89 1.05 0,047 22 0,13 39 53 0,006 0,64 3.21 0,80 0,037 30 0.13 30 4 0,040 3.90 1.88 4,40 0.033 260 0,45 210 32 0,089 0.14 1,71 3.81 0,047 27 0,37 160 14 0.064 0,49 0,77 4.85 0.048 38 0,48 198 19 0.072

d/ C. Douglas Read, e. Sc. Laboratory Manager, Activa1ion Laoora1ories Ltd.

Activation Laboratories Ltd. Work Order No. A04·3002 Report No. A04-3002B

'Near Total' Digestion Analysis: Code lH

SAMPLE Ag Cd Cu Mn Mo Ni Pb Zn AI Be Bi Ca K Mg P Sr Ti V Y S ppm ppm ppm ppm ppm ppm ppm ppm % ppm ppm % % % % ppm % ppm ppm %

09-04-034 (1) -0.3 0.7 59 1832 3 89 11 155 5.41 1 ·2 1.41 0.98 3.46 0.049 105 0.58 266 21 0.028 09-04·034 (2) -0.3 0.4 56 1853 1 91 13 154 5.42 1 -2 1.42 0,97 3,45 0.050 108 0.56 265 21 0,028 09-04-035 -0.3 0.4 70 1097 4 56 5 89 4.40 ·1 ·2 0.98 1.45 2.29 0.053 91 0.52 187 17 0.103 09-04-036 -0.3 -0.3 13 249 4 18 26 52 2.56 ·1 ·2 0.07 3.59 0.63 0.022 46 0.17 41 10 0.008 09-04.Q37 -0.3 0.4 83 1269 2 65 9 121 3.n ·1 ·2 1.49 1.25 2.24 0,043 74 0.40 160 16 0.281 09-04-038 -0.3 0.4 33 1024 2 100 6 81 5.75 -1 ·2 0.33 1.90 5.04 0.067 57 0.61 249 25 0.136 BV04-1 -0.3 -0.3 5 95 3 17 4 6 3.99 ·1 -2 0.38 0.57 0.33 0,026 49 0.15 40 4 0.661 BV04-2 -0.3 -0,3 3 45 6 16 ·3 5 3.20 -1 ·2 0.18 0.35 0.17 0.045 56 0.17 70 5 0.253 BV04-3 104,2 106.8 99999 127 19 25 3124 39611 0.11 ·1 78 0.11 0.01 0.52 -0.001 4 -0.01 ·2 ·1 24.912 BV04-4 206.2 1230.8 6607 106 9 6 21497 99999 0.07 -1 ·2 0.02 0.02 ·0.01 ·0.001 ·1 -0.01 ·2 2 22.404 OMOl 0.5 -0,3 371 1472 ·1 318 6 100 1.75 ·1 12 7,74 0.25 11.27 0.022 145 0,19 185 8 0,296 09-04-o25B 0.5 -0,3 30 200 5 15 9 31 3.31 ·1 ·2 0.32 4,84 o.n 0.024 61 0.10 26 4 0.036 OM02 -0.3 -0,3 21 30 11 8 ·3 8 0.05 ·1 ·2 0,05 0.01 0.06 -0.001 4 -0.01 ·2 ·1 0.005 09-04-018Pulp Duplicates -0.3 0.5 77 1144 3 14 7 80 4.10 2 ·2 3.56 0.60 1.90 0.131 352 0.91 254 20 0.025 OM02Puip Duplicates -0.3 -0.3 16 36 13 9 ·3 4 0.06 ·1 ·2 0.06 -om 0.09 ·0,001 6 0.01 ·2 ·1 0.006 09-04-036Preparation duplicate (1) -0.3 0.4 33 1013 3 98 4 83 5.64 1 ·2 0.32 1.95 5.21 o.on 54 0.62 257 26 0.123 09-04-038Preparation duplicate (2) -0.3 0.8 30 1020 2 100 3 84 5.77 1 ·2 0.32 2.02 5,29 0.071 56 0.65 262 28 0.131

AN-G cart 0.08 .1! l1!!. 0.2 n 1 all. 15.78 !!.J. 0.03 ~ 0.108 !J!! ~ !! 0.133 !!! ~ 0.014 AN·G 0.4 0.4 16 314 1 35 18 4.20 ·1 ·2 10.82 0,03 0.81 0.004 69 0.11 69 4 0.Q15 SOC·1 cart 0.041 (.08 ~ 883 ill 38 2! .1!! 8.338 ~ 0.26 1.001 2.722 !21! .!M!.§! .1!! 0.606 ill. ~ 0.065 SOC·l -0.3 0.5 29 912 4 34 21 103 5.21 3 ·2 1.07 3.10 1.08 0.060 193 0.62 101 33 0.062 DNe·1 cart (.027 {.182 2!. !lli (.7 ill 6.3 !§. 9.687 1 (.02 8.055 ll! !:!!! 0.031 ~ 0.287 ~ .1! (0.039 ONC·l -0.3 0.7 92 1169 3 248 9 60 6.38 ·1 ·2 7.86 0.18 6.23 0.027 150 o:2a 145 18 0.061 $C0-1 cart .!!:.lli 0.14 m 410 ill ll. .ll .1!! ill .1.:.!! 0.37 1.87 1l! !:H .!!:.W! ill 0.38 131 ~ 0.063 SCO-l -0.3 0.5 28 446 2 27 34 102 7.74 2 ·2 2.30 2.87 2.06 0.093 200 0.37 135 37 0.064 GXR-6 cart 1.3 (1 66 1008 2.4 27 101 118 17.68 1.4 (.29 0.179 1.87 0.61 0.035 35 0.498 186 14 0.016 GXR-6 -0.3 0.6 70 963 2 24 99 127 5.47 1 -2 0.14 1.62 0.19 0.061 30 0.50 201 4 0.016 GXR·2 cart 17 4.1 76 1008 (2.1 21 690 530 16.46 1.7 1·69 0.929 1.37 0.85 0.105 160 0.3 52 17 0.031 GXR·2 17.2 4.1 78 743 3 17 697 524 5.22 2 ·2 0.60 1.35 0.71 0.061 138 0.29 53 8 0.022 GXR·1 cart 31 3.3 1110 853 18 41 730 760 3.52 1.22 1380 0.958 0.05 0.22 0.065 275 0.036 80 32 0.257 GXR·l 29.9 2.9 1124 921 16 43 761 727 2.13 ·1 1378 0.96 0.04 0.19 0.055 310 0.03 81 29 0.258 GXR-4cart 4 (.86 6520 155 310 42 52 73 7.20 1.9 19 1.01 4.01 1.66 0.120 221 0.29 87 14 1.770 GXR-4 3.0 0.9 6392 169 312 41 48 73 4.50 2 18 1.08 4.52 1.87 0.127 235 0.26 89 14 1.772

SOC·1 cart 0.041 {.08 ~ m ill 38 2! .1!! 8.338 ~ 0.26 1.001 !ill. !21! .!M!.§! .1!! 0.606 ill. ~ 0.065 SOC-l -0.3 0.9 24 950 1 31 23 101 5.75 3 ·2 1.02 2.71 1.23 0.066 156 0.54 98 42 0.066 ONe·1 cart {.027 (.182 2!. 1154 {.7 247 6.3 !§. !:§!!l. 1 {.02 !.:2!! ll! !:!!! 0.037 ~ 0.287 ~ .1! 10.039 ONC-l -0,3 1.0 80 1193 2 243 6 61 6.11 ·1 4 7,10 0,18 6.35 0.029 125 02s 145 17 0.057 Sea·1 cart 0.134 l!.!! m 410 1.37 27 .ll .1!! ill .1.:.!! 0.37 1.87 2.30 !:H .!!:.W! ill 2J! 131 26 0.063 SCO·l -0.3 0.6 23 423 2 25 29 100 3.73 2 ·2 1.89 2.04 1.64 0.086 142 0.30 130 17 0.060 GXR-6 cert 1.3 {1 66 1008 2.4 27 101 118 17.68 1.4 1·29 0.179 1.87 0.61 0.035 35 0.498 186 14 0.016 GXR-6 0.3 0.9 55 986 ·1 23 97 123 4,46 1 ·2 0.13 1.33 0.22 0.057 23 0,44 192 4 0.010 GXR·2 cart 17 4.1 76 1008 {2.1 21 698 530 16.46 1.7 (.69 0.929 1.37 0.85 0.105 160 0.3 52 17 0.031 GXR·2 16.5 3.5 62 697 2 17 665 496 3,69 2 ·2 0.57 1.03 0.60 0.057 108 0,24 50 7 0,019 GXR·1 cart 31 3.3 1110 853 18 41 730 760 3.52 1.22 1380 0.958 0.05 0.22 0.065 275 0.036 80 32 0.257 GXR·l 31,7 2,5 988 952 18 45 BOO 777 1.91 1 1376 0.94 0.04 0.20 0.060 263 0.03 85 27 0.236 GXR-4cart 4 {.811 6520 155 310 42 52 73 7.20 1.9 19 1.01 4.01 1.66 0.120 221 0.29 87 14 1.770 GXR-4 2.8 0.9 5069 159 310 38 47 69 3.99 2 17 0.99 3,64 1.80 0.123 190 0.22 81 13 1.587

NOIe: Certificate data undel1lned are recommended values; other values are proposed except those preceded by a "(" which are infonnation values. Sarite, gahnile, chromite. cassiterite, zircon, sphene. magnetite, and sulphates may not be totally dissolved. Aluminium and Yllrium may only be parlIatly extracted, Sulphur associated with barite will not be extracted. Rutile. ilmenite and monazite may not be fully extracted.

Negative values indieateless than the reporting limit Page 2 of 2 99999 indicat •• greater than 10% 25110/2004

9:33AM

Quality Analysis ... Innovative Technologies

NIKOS EXPLORATIONS LTD. 326 RUSHOLME RD. TORONTO, ON M6H 2Z5 ATTN: ROGER MOSS

35 ROCKS(PREP.REV5)

Invoice No.: Work Order: Invoice Date: Date Submitted: Your Reference: Account Number:

CERTIFICATE OF ANALYSIS

were submitted for analysis.

A04-3584 A04-3584

08-DEC-04 16-NOV-04

BELLEVUE 4317

The following analytical packages were requested. Please see our current fee schedule for elements and detection limits.

REPORT A04-3584 CODE IH-INAA(INAAGEO.REV1) REPORT A04-3584B CODE 1H-TOTAL DIGESTION ICP(TOTAL.REV2)

REPORT 43584RPT.XLS CODE 1C-EXPL-FIRE ASSAY ICP/OES

This report may be reproduced without our consent. If only selected portions of the report are reproduced, permission must be obtained. If no instructions were given at time of sample submittal regarding excess material, it will be discarded within 90 days of this report. Our liability is limited solely to the analytical cost of these analyses. Test results are representative only of material submitted for analysis.

CERTIFIED BY

toR E.HOFFMAN/GENERAL MANAGER

ACTIVATION LABORATORIES LTD.

1336 Sandhill Drive, Ancaster, Ontario Canada L9G 4V5 TUfPHONf +1.905.648.9611 or +1.888.228.5227 FAX +1.905.648.9613

f·MAIL ancaster@actlabs.com ACTLABS GROUP WfBSITE http://www.actlabs.com

SamplelD

09-04-039 09-04-040 09-04-041 09-04-042 09-04-043 09-04-044 09-04-045 09-04-046 09-04-047 09-04-046 09-04-049 09-04-050 09-04-051 09-04-052 09-04-053 09-04-054 09-04-055 09-04-056 09-04-057 09-04-056 09-04-059 09-04-060 09-04-061 09-04-062 09-04-063 09-04-064 09-04-065 09-04-066 09-04-067 09-04-066 09-04-069 09-04-070 BV02-01 BV02-05 14324 BLANK DMMAS-l0-l DMMAS-10-2 DMMAS-10-3 DMMAS-l0-4

Activation Laboratories Ltd. Work Order: A04-3584 Report: A04-3584

Au Ag As Ba Br Ca Co Cr Cs ppb ppm ppm ppm ppm % ppm ppm ppm

Fe Hf Hg Ir Mo Na Ni Rb Sb Sc Sa % ppm ppm ppb ppm % ppm ppm ppm ppm ppm

So %

Sr Ta Th U W Zo La Ce Nd Sm Eu Tb Yb Lu Mass % ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm 9

-2 -2 -2 ·2 ·2 -2 17

7 6

-2 -2 4

-2 -2 -2 -2 -2 -2 6

-2 -2 ·2 -2 -2 6

-2 -2 -2 3 6

-2 -2 -2 -2 -2 4

476 465 556 689

-5 3.1 -5 4.3 -5 2.2 -5 7.3 -5 -0.5 -5 2.5 -5 21.8 -5 3.5 -5 23.7 -5 2.4 -5 1.6 -5 2.5 -5 5.7 -5 -0.5 -5 -0.5 -5 -5 -5 -5 -5 -5 -5

120 -50

230 280 260 340 110 330 720 -50 -50 -50 490 160 -50

-0.5 -1 -0.5 -1 -0.5 -1 -0.5 3 -0.5 2 -0.5 4 -0.5 -1 -0.5 3 -0.5 -0.5 -0.5

5 3 7

-0.5 5 -0.5 4 -0.5 -1 -0.5 -1 -0.5 -1 -0.5 -0.5

3 6

-0.5 5 -0.5 -1 1.2 -1 0.6 -1

32 173 29 100 27 76 31 77 42 135 39 106 11 169 42 63 54 71 39 336 39 71 41 130 56 64

6 111 -1 23 43 103 16 169 35 96 39 267

-5

2.1 410 2.0 410 1.7 690 4.2 390 2.0 340 3.2 1100 2.2 330 1.9 -50 -0.5 15

4 159 11 91 -1 209 20 696

-5 2.3 -5 3.7 -5 3.5 -5 3.6 -5 3.4 -5 4.6 -5 6.9 -5 7.0 -5 64.5 -5 7.9 -5 21.2 -5 12.6 -5 10.6 -5 2190 -5 2190 -5 2340 -5 2190

470 650 120 210

1300 660 250 300 -50 -50 ·50 -50 -50 400 590 370 430

-0.5 -1 3 164 12 317 82 1150

-0.5 2 -0.5 0.6 1.1

-0.5 -0.5 -05 -0.5 -0.5 1.2

-0.5

5 2 7 202

·1 3 169 -1 5 105 1 19 260 2 52 110 3 51 64

-1 31 217 -1 268 267

-0.5 -1 4 75 912

-1 -5 61 132 60 131 62 152 62 141

1.9 10 2.1 10 2.4 7 2.5 7

-1 6.53 -1 900 -1 5.09 -1 7.00 1 7.64 1 7.13

-1 2.06 -1 6.93 -1 9.41 -1 5.70 -1 8.49 -1 7.36 2 11.2

·1 2.30 -1 0.69 -1 7.03 -1 3.45 -1 5.46 -1 10.4 -1 1.41 -1 2.09 -1 0.69 7 2.81

-1 1.22 -1 2.13 -1 8.19 1 1.39 1 0.65

-1 1.05 1 3.61

-1 8.97 -1 9.65 2 8.70

-1 8.40 -1 8.49 -1 0.05 -1 7.56 -1 7.45 -1 7.84 -1 7.42

2 2 2 2 2 2

-1 2 3 2 2 2 3 3

-1 2 3 3

-1 4 3

-1 -1 3 3 2 2 2 2 2 2 3 1

-1 2

-1 -1 2 3 2

-1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 ·1 -1 ·1 -1 -1 -1 -1 -1 -1 ·1 -1 -1 -1 -1 -1 -1 -1 -1 ·1 -1 -1

-5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5 ·5 -5 -5 ·5 ·5 -5 -5 ·5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5 -5

-1 1.56 -1 1.92 -1 0.59 -1 3.46 -1 3.38 -1 3.06 -1 0.40 -1 1.33 -1 1.93 -1 2.89 -1 2.66 -1 3.01 -1 2.20 5 3.73

-1 7.12 -1 3.29 5 2.95

-1 1.50 -1 0.80 -1 3.65 5 4.14 1 1.29

-1 0.18 -1 3.98 5 3.35

-1 0.34 7 0.06

-1 3.08 4 316 2 0.03

-1 1.63 -1 2.76 -1 0.20 7 0.65

-1 0.28 -1 -0.01 -1 0.77 -1 0.77 -1 0.80 ·1 0.74

100 120

50 65

140 100 -20 75 90

150 115 120 110 -20 -20 90 75

-20 250 -20 -20 -20

39 0.4 45 -0.1 31 -0.1

-15 -0.1 -15 -0.1 57 0.4

-15 -0.1 -15 0.3 -15 0.6 -15 0.5 -15 -0.1 -15 -0.1 -15 0.2 -15 -0.1 -16 -0.1 ·15 0.3 50 0.3

-15 0.2 -15 -15 60 38

1.4 -0.1 -0.1 -0.1

25.6 32.2 14.2 25.4 29.3 24.9

5.7 22.5 30.9 236 30.6 27.6 39.1

3.3 1.6

29.7 14.8 23.6 15.5

2.7 5.5 1.0

160 -20 75

65 0.9 -15 0.2

14.7 2.0 6.6

0.2 15.1 0.3 2.9 0.2 1.0 0.3 1.7 0.7

-15 -0.1 -15 953

-20 -20

78 65

-20 -15 60 40 14.6

31.6 37.0 31.6

100 86 97 -15

120 55

0.2 0.8 0.5 0.4 115 -15

771 44 0.5 -15 0.2 -20

-20 -15 16.1 -20 -15 14.3 -20 56 15.8 -20 -15 13.9

6.0 18.7

0.1 18.3 18.6 19.4 18.3

-3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 5 -0.02 -0.05

-3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.01 -0.05 -3 -0.02 -0.05 -3 -0.02 -0.05 -3 -0.02 -0.05 -3 -0.03 -0.05

-0.5 3.0 -0.5 -0.5 3.1 -0.5 -0.5 2.1 0.9 -0.5 3.0 -0.5 -0.5 2.0 -0.5 -0.5 3.2 1.4 -0.5 1.3 0.8 1.6 2.4 13

-0.5 2.3 1.5 -0.5 8.2 2.2 -0.5 2.7 -0.5 -0.5 2.3 -0.5 -0.5 2.6 -0.5 -0.5 3.5 -0.5 -0.7 -0.2 -0.5 -0.5 -0.2 -0.5 -0.5 1.4 1.7 2.0 3.0 1.2

-0.5 1.7 -0.5 -0.5 0.9 -0.5 -0.5 2.7 1.5 -0.5 1.6 0.7 -0.5 -0.2 -0.5 -0.5 2.0 11 1.3 4.3 1.5

-0.5 3.2 -0.5 -0.5 11.6 5.5 -0.5 1.1 -0.5 -0.5 2.6 0.6 -0.5 4.0 1.3 -0.5 2.6 -0.5 -0.5 2.1 1.1 -0.5 1.2 0.8 -0.5 1.4 -0.5 -0.5 4.4 -0.5 -0.5 -0.2 -0.5 -0.6 1.0 -0.5 -0.6 1.0 1.6 -0.6 1.3 -0.5 -0.6 1.6 -0.5

-1 100 14.0 -1 80 20.9 -1 90 12.2 -1 100 9.2 -1 130 12.3 -1 100 16.2 -1 -50 4.5 -1 120 14.0 -1 150 18.6 -1 -50 14.4 -1 105 13.2 -1 95 12.4 -1 190 13.3 -1 -50 2.2 -1 -50 3.4 -1 120 5.8 -1 136 6.5 -1 156 19.0 -1 133 20.2 -1 -50 6.1 -1 -50 7.1 -1 -50 8.8 -1 130 7.3 -1 -50 2.7 -1 86 16.0 -1 171 15.6 -1 -50 25.1 -1 -50 3.9 -1 -50 16.5 -1 109 11.4 -1 97 16.7 -1 110 14.0 -1 124 5.6 -1 -50 3.0 -1 233 19.3 -1 -50 -0.5 17 231 11.3 17 195 11.2 20 278 11.8 18 255 11.0

31 46 24 18 24 31 10 30 33 29 28 25 29

4 -3 14 10 44 36 17 13 16 12

5 32 34 45

7 26 24 29 30 15 9

47 -3 19 20 20 23

10 16 -5 9

2.8 3.7 1.5 2.3 2.5 2.7 0.8 2.6 3.0

0.8 -0.5

10 14 -5 9

13

0.7 0.6 0.6 0.9 0.9 0.3 0.8 1.1

9 13 -5 11

8 -5 -5 -5 25

2.7 0.6 3.0 1.2 2.5 1.0 2.9 1.1 0.4 -0.2 0.5 0.6 1.6 0.6 1.4 0.5 5.0 1.5

16 2.8 7 0.9

-5 0.9 6 0.7

-5 1.1 -5 0.5 13 2.7 14 3.2 21 3.0 -5 0.4 8 1.2

0.6 0.4 0.3

-0.2 0.4

-0.2 0.7 0.8 0.6

-0.2 0.3 0.6

0.6 -0.5 1.6

-0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 11 2.4

15 3.4 12 3.4 10 1.0 -5 1.5 16 3.9 -5 -0.1

1.0 -0.5 1.0 -0.5 0.2 -0.5

-5 3.5 -5 3.3 12 3.6 -5 3.6

0.4 1.2

-0.2 1.3 1.1 0.9 0.9

-0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5

1.8 0.29 35.27 2.0 0.31 34.69 1.1 0.19 36.53 1.8 0.34 30.27 2.0 0.35 31.17 1.8 0.32 31.42 0.6 0.11 29.38 1.5 0.26 29.12 2.4 0.44 29.50 2.0 0.32 30.32 2.4 0.41 27.80 2.0 0.31 26.35 2.6 0.42 29.17 0.2 -0.05 23.82 0.8 0.14 33.59 1.4 0.21 25.95 0.9 0.13 24.55 1.1 0.17 25.49 0.9 0.15 25.65 0.4 0.05 26.51 0.3 0.08 23.74 0.2 -0.05 27.14 1.0 0.16 25.66 0.4 -0.05 24.27 0.6 -0.05 24.17 0.9 0.17 23.66 0.5 0.10 27.72 0.3 -0.05 24.64

-0.2 0.05 24.47 1.5 0.25 24.24 2.2 0.34 30.93 2.8 0.44 24.34 1.3 0.22 27.23 0.5 0.08 23.65 1.3 0.18 27.99

-0.2 -0.05 30.00 3.4 0.57 20.50 3.5 0.55 20.80 3.6 0.54 20.22 3.3 0.53 20.73

Dmmas-l0 Accepted 540 2237 298 1.9 7 67 149 7.64 0.74 5 15.7 19.1 0.6 15 217 12.4 21 3.6 0.8 3.2 0.51

1 of 1

Activation Laboratories Ltd. Work Order No. A04-3584 Report No. A04-3584B

'Near Total' Digestion Analysis: Code lH

SAMPLE Ag Cd Cu Mn Mo Ni Pb Zn AI Be ppm ppm ppm ppm ppm ppm ppm ppm % ppm

09-04-039 -0.3 0.7 79 906 1 88 -3 93 4.73 -1 09-04-040 -0.3 0.9 22 828 -1 122 4 79 6.02 -1 09-04-041 -0.3 -0.3 73 821 2 54 5 90 3.04 -1 09-04-042 0.4 1.1 83 1613 2 70 -3 104 4.97 1 09-04-043 -0.3 1.0 239 1545 -1 154 17 129 6.04 -1 09-04-044 -0.3 0.8 100 2487 2 99 14 100 5.54 1 09-04-045 -0.3 -0.3 51 493 -1 33 5 35 1.65 -1 09-04-046 0.4 0.9 199 1858 3 77 5 124 5.00 -1 09-04-047 -0.3 1.2 173 2274 -1 92 38 144 5.06 -1 09-04-048 (1) -0.3 0.9 55 1494 2 146 5 57 4.43 1 09-04-048 (2) -0.3 0.4 49 1442 3 143 6 56 4.56 1 09-04-049 -0.3 1.8 105 1711 -1 60 13 112 9.71 1 09-04·050 -0.3 0.7 105 1662 3 121 8 96 5.45 ·1 09-04-051 0.4 1.0 498 2366 -1 112 5 197 6.18 -1 09·04-052 0.4 -0.3 5 389 6 21 4 31 3.32 ·1 09-04-053 ·0.3 0.6 29 175 -1 9 a 23 3.92 -1 09-04-054 -0.3 1.0 117 1588 -1 93 11 127 4.63 1 09-04-055 -0.3 1.3 52 785 7 79 11 124 8.62 2 09-04-056 -0.3 -0.3 25 1540 -1 43 6 145 4.26 2 09-04-057 -0.3 OA 100 3926 1 269 59 137 2.76 2 09-04-058 -0.3 -0.3 6 367 ·1 14 4 40 2.41 -1 09-04-059 0.3 OA 52 414 6 29 4 47 5.11 1 09-04·060 -0.3 -0.3 6 193 2 11 6 19 2.28 -1 09-04-061 -0.3 0.5 5 2939 -1 184 78 110 2.52 1 09·04-062 -0.3 0.3 4 169 ·1 11 5 23 3.46 1 09-04-063 ·0.3 0.3 3 568 6 77 10 76 4.17 2 09-04-064 -0.3 ·0.3 175 1823 -1 1054 5 126 2.13 1 09-04-065 -0.3 -0.3 12 465 10 24 10 51 2.51 1 09-04-066 ·0.3 0.6 5 148 1 8 10 21 3.22 -1 09-04-067 -0.3 OA 33 285 5 29 7 40 3.36 1 09-04-068 ·0.3 004 29 601 2 62 7 89 3.56 3 09-04-069 (1 ) -0.3 0.8 68 1472 2 99 6 78 4.75 -1 09-04-069 (2) ·0.3 1.1 62 1453 2 99 3 79 4.38 -1 09-04-070 -0.3 1.0 114 1798 1 81 13 115 5.41 -1 BV02-01 -0.3 OA 23 1196 ·1 123 -3 115 5.35 1 BV02-05 0.3 0.6 3 288 10 121 -3 47 2A3 -1 14324 -0.3 -0.3 193 2317 2 805 15 191 2.74 1

AN-G cert 0.08 11 lli 0.2 1! ~ ~ 15.78 .u AN-G -0.3 0.8 11 332 ·1 34 -3 18 4.66 -1 SOC·l cert 0.041 (,08 !!!. 883 ill. 38 ~ 103 8.338 !.!!. SOC-l -0.3 0.5 38 89B -1 36 22 103 3.50 3 ONC·l cert (,027 (.lB2 96 1154 (.7 ill 6.3 ~ 9.687 1 ONC-l -0.3 0.8 90 1139 -1 249 5 59 6.59 -1 SCO·l cert 0.134 0.14 ru 410 ill II II ill 7.24 1.84 SeO-1 -0.3 T6 2B 442 3 27 32 104 4.39 2 GXR-6 cert 1.3 {I 66 1008 2.4 27 101 118 17.68 1.4 GXR-6 0.5 0.9 69 1046 3 27 98 132 4.35 1

Clients are advised to obtain auay, ror Ag> 1 00 ppm and Pb>5000 ppm due to potential sokJbility problems.

Values for Cu, Ni, Zn, Mo greater than 1% .should be assayed if accuracy betterthan+/~ 1 ().. 15% is required.

Values above 1% are for infotmatiooiW purposes only and shoutd not be relied upon for promotion~ or ore

r&HOIe calculations. Assays af'e recommended for trus purpose. Sulphur will precipitate in samples containing massive sulphides,

Negam values indicate less than the reJX)rting limit 99999 indicates greater than 10%

Bi Ca ppm %

·2 0.20 -2 0.21 -2 0.58 -2 3.63 -2 2.39 -2 4.31 -2 0.91 -2 3.05 -2 5.33 -2 3.58 -2 3.47 -2 5.20 -2 4.88 2 2.13

-2 0.34 -2 0.32 -2 2.89 -2 1.04 -2 5.00 ·2 5.18 -2 0.30 3 0047

-2 0.11 3 12.81

·2 0.26 -2 1.75 10 5.52 ·2 1.33 -2 0.14 -2 0.64 ·2 0.67 -2 2.48 2 2.46

-2 3.75 -2 0.10 2 0.06 6 4.34

0.03 11.36 -2 9,46

0,26 1.001 ·2 0.97

{.02 ~ 3 6.93

0.37 ill ·2 2.04

{.29 0.179 -2 0.14

K Mg P Sr Ti V Y S % % % ppm % ppm ppm %

0.70 5.23 0.071 58 0.59 284 16 0.088 0.29 6.39 0.080 39 0.63 311 19 0.037 0.86 3.35 0.030 53 0.31 152 13 0.055 0.53 3.65 0.075 172 0.61 285 24 0.032 0.43 4.07 0.086 217 0.62 302 22 0.039 0.73 4.45 0.068 369 0.58 264 24 0.029 0.57 1.27 0.024 32 0.17 67 7 0.343 1.40 5.35 0.076 96 0.67 290 16 0.192 1.08 4.73 0.065 291 0.66 306 28 0.041 0.10 5.81 0.052 100 0.36 173 22 0.013 0.10 5.68 0.051 98 0.34 167 21 0.010 0.14 4.36 0.D72 247 0.64 294 40 0.040 0.25 4.38 0.056 346 0.52 248 21 0.030 0.97 5.06 0.066 227 0.79 355 28 0.055 1.16 1.29 0.053 149 0.22 36 -1 0.006 3.88 0.04 0.003 33 0.02 16 1 0.006 0.94 3.93 0.037 316 0.44 244 14 0.071 1.57 2.81 0.054 376 0.34 68 19 0.054 2.02 7.40 0.099 246 0.53 182 17 0.018 0.99 7.26 0.028 188 0.33 137 12 0.040 1.26 0.73 0.033 138 0.17 29 2 0.011 2.01 1.60 0.042 253 0.24 45 2 0.011 1.76 0.40 0.012 80 0.05 13 2 0.010 0.75 3.71 0.011 160 0.09 66 11 0.015 1.32 0.68 0.033 218 0.11 17 ·1 0.005 1.51 2.04 0.098 501 0.22 55 6 0.002 0.06 14.27 0.052 133 0.53 126 11 0.026 2.27 0.92 0.023 44 0.11 35 6 0.084 3.55 0.37 0.019 313 0.08 12 -1 0.005 2.51 0.60 0.026 327 0.12 18 -1 0.004 1.15 1.57 0.189 30 OAI 117 13 0.014 1.64 2.57 0.068 88 0.60 301 22 0.053 1.60 2.50 0.068 84 0.60 305 21 0.069 0.36 4.71 0.070 206 0.67 313 28 0.024 1.39 6.57 0.039 29 0.47 214 8 0.154 0.32 2.51 0.029 23 0.17 63 5 6.549 0.07 12.07 0.065 116 0.70 164 15 0.022

0,108 1.08 0.004 76 .!!:.ill. L9. 7.5 0.014 0.06 1.07 0.004 221 0.11 68 4 0.126

bill 1.019 ~ .:t!l1 0.606 1,ga ~ 0.065 2.75 1.06 0.066 209 0.60 101 22 0.061 0.19 ~ 0.037 ill 0.287 ~ 18 (0.039 0.20 7.06 0.031 189 0.28 141 17 0.057

.t!!!. 1M ~ 174 ,U!!. ill !§. 0.063 2A2 1.95 0.096 219 0.36 136 18 0.067 1.87 0.61 0,035 35 0.498 186 14 0.016 1.50 0.25 0.068 47 0.51 202 3 0.017

uV C. Douglas Read, 8. SC. Laboratory Manager. Aclivation Laboratories Ltd.

Page 1 of 2 11/29104 11:20AM

Activation Laboratories Ltd. Work Order No. A04-3584 Report No. A04·3584B

'Near Total' Digestion Analysis: Code lH

SAMPLE Ag Cd Cu Mn Mo NI Pb Zn AI Be Bi Ca K Mg P Sr Ti ppm ppm ppm ppm ppm ppm ppm ppm % ppm ppm % % % % ppm %

GXR-2 cert 17 4.1 76 1008 (2.1 21 690 530 16.46 1.7 (.69 0.929 1.37 0.85 0.105 160 0.3 GXR-2 16.4 4.1 79 654 2 19 659 544 3.38 2 -2 0.55 1.11 0.66 0.068 157 0.30 GXR-l cert 31 3.3 1110 853 18 41 730 760 3.52 1.22 1380 0.958 0.05 0.22 0.065 275 0.036 GXR-l 30.9 4.0 1158 1001 14 41 736 765 1.37 1 1365 0.92 0.05 0.17 0.067 365 0.03 GXR4cert 4 (.86 6520 155 310 42 52 73 7.20 1.9 19 1.01 4.01 1.66 0.120 221 0.29 GXR-4 3.1 1.0 6154 161 310 39 47 75 4.85 2 19 1.09 4.39 2.16 0.148 301 0.26

Note: Certificate data underlined are recommended values; other values are proposed except those preceded by a "I" which are Information values. Barite, gahnite, chromite. cassiterite. zircon, sphene, magnetite, and sulphates may not be totally dissolved. Aluminium and yttrium may only be paritally extracted. Sulphur associated with barite will not be extracted. Rutile, ilmenHe and monazite may not be fully extracted.

Negative value~ indicate less than the reporting limIt 99999 indicates greatttl' than 10%

Page 2 of 2 11/29/04 11:20AM

V Y S ppm ppm %

52 17 0.031 55 6 0.022 80 32 0.257 85 32 0.257 87 14 1.770 86 15 1.746

AGtlabs PGE (1C-EXP) Job #: A04-3584 Sample 10: Sample WI(g) BV02-01 15 BV02·05 15 14324 15

Blank Conlrol Malerial UMT-1 Conlrol Malerial WMG-1

Cert Data UMT-1 Cert Data WMG·1

10 2 2

2 2

43257RPT

RepOl1#: A04-3584 Pd ppb PI ppb Au ppb

15 15 4 -4 -5 7 593

-4 ·5 -2 113 134 47 400 658 117

106 129 48 382 731 110

Certified By:

C. Douglas Read, BSe. Laboralory Manager, Activalion Laboratories Ltd.

Thi. report shall not bo reproduced ucept in full withoot Iho written approval of tho taboratOfy-.

Unless othctWiao instructed, ~_ wMI be dispOGOd of 90 day .. fram tho dato of !:hi:. rcpar-t.

1 of 1

Client: Nikos Exploration Ltd Contact: R Moss

Date Received: 16-Nov-04

Date Reported: 8-Dec-04

CERTIFICATE OF ANALYSIS Work Order: 081390

To: Nikos Exploration Ltd. Attn: Roger Moss

326 Rusholme Rd. TORONTO ON/CANADA/M6H 2Z5

Copy 1 to

P.O. No. Project No. BELLEVUE No. of Samples Date Submitted Report Comprises

76 Soil (MIVII) 03/12/04 Cover Sheet plus Pages 1 to 9

Distribution of unused material: Pulps: Discarded After 90 Days Unless Instructed!!! Rejects: Discarded After 90 Days Unless Instructed!!!

Certified By

,(;::r. ..... <"~ /" ,/

, ....-'

Date

! !

[,.,.J.,., ",) , /iX! ./ 'j

/

10/01/05

Tim Elliott, Operations Manager

ISO 9002 REGISTERED

ISO 17025 Accredited for Specific Tests. SCC No. 456

Report Footer: L.N.R. = Listed not received I.S, = Insufficient Sample n.a. = Not applicable = No result *INF = Composition of this sample makes detection impossible by this method M after a result denotes ppb to ppm conversion, % denotes ppm to % conversion

Subject to SGS General Terms and Conditions

SGS Canada Inc. Mineral Services 1885 Leslie Street Toronto ON M38 2M3 t (416) 445-5755 f (416) 445-4152 WWN.sgS.ca

Member of the SGS GrouD {Societlo Generale de Surveillance1

Work Order:

Element. Method. Det.Lim. Units.

BVS-Ol BVS-02 BVS-03 BVS-04 BVS-05

BVS-06 BVS-07 BVS-08 BVS-09 BVS-1O

BVS-ll BVS-12 BVS-13 BVS-14 BVS-15

BVS-16 BVS-17 BVS-18 BVS-19 BVS-20

BVS-21 BVS-22 BVS-23 BVS-24 BVS-25

BVS-26 BVS-27 BVS-28 BVS-29 BVS-30

081390 Date: 10/01/05

Ag As Au MMI-M5 MMI·M5 MMI·M5

1 ppb

9 5 9 7 8

3 40 43

6 7

10 9 7

10 14

5 3 2 3 2

3 5 3 5

14

2 7 4

10 10

10 ppb

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

0.1 ppb

<0.1 <0.1 <0.1 <0.1 <0.1

<0.1 <0.1 <0.1 <0.1 <0.1

<0.1 <0.1

0.2 <0.1 <0.1

<0.1 <0.1 <0.1 <0.1 <0.1

<0.1 <0.1 <0.1 <0.1 <0.1

<0.1 <0.1 <0.1 <0.1 <0.1

Ba MMI-M5

10 ppb

57 243

61 60 49

46 72 86 83 65

81 74 83

110 83

44 45 51 53 77

88 46

159 105 106

81 79 24 80

148

FINAL

Hi Ca Cd MMI·M5 MMI-M5 MMI·M5

1 ppb

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

10 ppm

<10 15

<10 <10 <10

<10 <10 <10 <10 <10

< 10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

10 ppb

24 62 17 26 18

34 26 23 28 23

25 11 48 45 53

37 36 21 19 41

17 20 23 31

<10

22 14 19 12 11

Ce MMI-M5

5 ppb

53 65 23 49 78

13 77 82 50 58

186 79 31 79 85

23 8

13 13 53

27 34 18 64

6

8 81 39

217 151

Page 1 of 9

Co Cu Dy Er Eu Gd MMI-M5 MMI-M5 MMI·M5 MMI-M5 MMI·M5 l'I-fMI·M5

5 10 1 0.5 0.5 1 ppb ppb ppb ppb ppb ppb

55 32

102 509

61

21 24 28 11 14

97 22 18 74 19

39 15 24 26 15

43 17 40 76 36

34 33 11 30 35

130 267 182 204 275

261 872 708 416 243

811 249 333 352 338

285 142 335 345 129

203 86

132 114 300

135 173 113 876 157

14 30 13 22 26

9 33 30 17 16

43 21 13 22 25

11 7 8 7

13

13 13 4

13 2

3 21 18 50 29

6.7 16.0 6.9

11.6 12.1

6.1 15.9 15.0 9.4 8.1

19.7 10.0 7.1

10.3 12.1

6.9 5.0 6.5 6.5 6.0

9.6 7.1 3.7 5.5 4.4

3.7 10.7 9.4

21.8 12.8

2.4 5.1 1.7 2.9 5.5

0.7 5.9 5.5 2.5 3.5

11.9 4.8 1.8 4.1 6.0

1.1 0.5 0.6 0.5 2.9

1.4 2.2 0.5 3.3

<0.5

<0.5 4.6 3.0

17.4 9.5

10 24

8 14 24

4 27 26 11 14

52 21

8 18 27

5 2 3 3

12

6 9 2

12 <1

1 20 13 74 39

La MMI-M5

1 ppb

14 27 9

18 24

5 26 28 18 19

73 23 11 21 35

9 3 6 6

18

13 11

8 18

3

4 25 13

148 85

Mg MMI-M5

1 ppm

<1 2

<1 <I <I

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <I <1

<1 <1 <1 <1

I

<1 <1 <1 <1

Work Order: 081390 Date: 10/01105 FINAL Page 2 of 9

Element. Ag As An Ba Bi Ca Cd Ce Co Cn Dy Er En Gd La Mg Method. MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-MS MMI-M5 MMI·M5 MMI-M5 MMI-M5 ~1I.M5 MMI·M5 MMI-M5 Det.Lim. 1 10 0.1 10 1 10 10 5 5 10 1 0.5 0.5 1 1 1 Units. ppb ppb ppb ppb ppb ppm ppb ppb ppb ppb ppb ppb ppb ppb ppb ppm

BVS-31 8 <10 <0.1 119 <1 <10 20 97 15 119 29 14.2 6.3 26 28 <1 BVS-32 12 <10 <0.1 84 <1 11 11 553 120 754 49 26.8 lOA 45 105 <1 BVS-33 6 <10 <0.1 261 <1 37 31 59 196 179 14 7.1 3A 14 31 2 BVS-34 4 <10 <0.1 46 <1 <10 43 19 27 198 12 7.3 1.2 6 7 <1 BVS-35 4 <10 <0.1 50 <1 <10 37 24 27 211 13 7.1 1.6 7 9 <1

BVS-36 2 <10 <0.1 40 <1 <10 27 12 16 127 9 5.9 0.8 3 5 <1 BVS-37 4 <10 0.5 22 <1 <10 10 43 55 145 15 9.0 3.3 13 11 <1 BVS-38 5 <10 <0.1 75 <1 <10 28 34 34 183 18 10.3 2.2 10 14 <1 BVS-39 5 <10 <0.1 72 <1 < 10 26 30 35 198 18 10.0 2.1 9 12 <1 BVS-40 3 < 10 <0.1 447 <1 17 28 30 135 237 12 7.8 1.3 5 12 2

BVS-41 6 <10 <0.1 103 <1 <10 16 172 105 208 33 14.4 9.3 38 59 <1 BVS-42 5 < 10 <0.1 53 <1 <10 16 72 26 122 18 8.0 4.7 19 23 <1 BVS-43 3 <10 <0.1 54 <1 <10 19 15 38 96 8 6.9 0.6 3 6 <1 BVS-44 11 <10 <0,1 131 <1 <10 13 162 30 202 28 12.4 8.6 35 64 <1 BVS-45 10 <10 0.2 60 <1 <10 11 109 66 686 59 20.8 16.0 74 47 <1

BVS-46 10 <10 0.2 50 <1 <10 <10 126 51 610 54 19.5 15.8 72 58 <1 *B1kBLANK <1 <10 <0.1 <10 <1 <10 <10 <5 <5 <10 <1 <0.5 <0.5 <1 <1 <1 *Std MMISRM14 20 13 59.3 74 <1 280 <10 12 51 808 2 0,7 0.7 3 2 41 BVS-47 15 <10 0.6 136 <1 288 14 180 84 346 35 13.8 10.0 40 74 21 BVS-48 7 <10 <0.1 114 <1 <10 22 20 244 420 21 12.0 1.9 11 6 1

BVS-49 11 <10 <0.1 77 <1 <10 21 114 115 262 28 13.2 7.4 33 43 <1 BVS-50 3 <10 <0.1 50 <1 <10 50 24 55 337 28 14.8 3.2 16 8 <1 BVS-51 2 <10 <0.1 115 <1 <10 42 8 141 295 3 3.6 <0.5 <1 3 2 BVS-52 7 <10 <0.1 84 <1 <10 14 41 20 174 13 6.6 2.3 10 14 <1 BVS-53 2 <10 <0.1 72 <1 <10 22 247 24 530 29 12.9 7.7 32 97 <1

BVS-54 8 <10 <0.1 131 <1 <10 <10 100 63 255 22 10.1 5.6 24 34 BVS-55 1 <10 <0.1 97 <1 <10 <10 15 8 56 1 1.0 <0.5 1 8 <1 BVS-56 5 <10 <0.1 372 <1 10 47 24 34 173 11 5.4 1.7 8 9 1 BVS-57 6 <10 <0.1 167 <1 10 54 21 156 193 17 9.9 1.9 9 9 2 BVS-58 7 <10 <0.1 60 <1 <10 38 31 174 342 21 11.0 2.5 12 13 <1

Work Order:

Element. Method. Det.Lim. Units.

BVS-59 BVS-60 BVS-61 BVS-62 BVS-63

BVS-64 BVS-65 BVS-66 BVS-67 BVS-68

BVS-69 BVS-70 BVS-71 BVS-n BVS-73

BVS-74 BVS-75 BVS-76 *Dup BVS-Ol *Dup BVS-13

*Dup BVS-25 *Dup BVS-37 *Dup BVS-49 *Dup BVS-61 *Dup BVS-73

*B1k BLANK *Std MMISRM14

081390

Ag MMI-MS

1 ppb

6 4 3 2

18

8 2 8 4

19

30 3 3 3 2

5 2 6

10 7

17 4

11 3 2

<1 19

Date: 10/01105

As MMI-MS

10 ppb

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 12

Au MMI-MS

0.1 ppb

<0.1 <0.1 <0.1 <0.1 <0.1

<0.1 <0.1 <0.1 <0.1 <0.1

<0.1 <0.1 <0.1 <0.1 <0.1

<0.1 <0.1 <0.1 <0.1 <0.1

<0.1 <0.1 <0.1 <0.1 <0.1

<0.1 56.6

Ha MMI-MS

10 ppb

151 70

109 103 78

89 278 160 93

135

262 185 195 97

223

275 84 83 90 83

101 32 78

122 212

<10 68

FINAL

Hi Ca MMI-MS MMI-MS

1 10 ppb ppm

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1

<10 <10 <10 <10 <10

<10 13

<10 <10 <10

22 <10 <10 <10 <10

47 <10 < 10 <10 <10

<10 <10 <10 <10 <10

<10 269

Cd MMI-MS

10 ppb

44 17 15 16 18

16 <10

55 34 84

54 30 25 31

<10

19 <10

15 28 51

<10 16 21 18

<10

<10 <10

Ce MMI-MS

5 ppb

49 14 20 10

191

18 <5 15 7

11

157 24

144 41

129

166 10

144 88 31

7 41

111 23

127

<5 12

Co MMI-M5

5 ppb

55 19

271 259 110

23 45 22 24 18

56 22 '18 21 10

81 11 69 53 19

36 56

117 292

9

<5 50

Cu Dy l\1MI-MS MMI·MS

10 1 ppb ppb

118 64

731 401

1147

97 200

3142 83

137

1572 171 99

135 86

107 61

110 120 327

309 137 258 707

89

<10 786

15 8 5 3

53

8 <1 11

5 7

36 10 27 20 13

29 2

24 17 13

3 11 28

5 14

<1 2

Page 3 of 9

Er MMI-MS

O.S ppb

7.0 4.9 4.3 3.0

27.8

5,1 0,9 7.1 5.2 5.5

14.2 5.9

12.6 9.6 6.4

12.7 1.8

10.6 7.6 7.2

4.3 5.9

13.2 4.2 7.2

<0.5 0.7

Eu MMI-MS

O.S ppb

3.0 0.9 0.6

<0.5 14.4

1.0 <0.5

0.8 <0.5

0.6

9.8 1.0 8.1 3,3 3.9

8,1 <0.5

6.6 3.5 1.9

<0.5 2.4 7.2 0.7 3.9

<0.5 0.7

Gd MMI-MS

1 ppb

13 4 3 1

64

4 <1

4 1 3

41 5

31 15 15

33 1

28 15 8

<1 10 31

3 16

<1 3

La Mg MMI-MS MMI-MS

1 1 ppb ppm

15 6 9 4

86

7 2 6 3 5

48 11 54 14 42

52 5

43 24 11

4 11 42 10 39

<1 2

<1 1

<1 <1

<1 3

<1 <1

11 <1 <:1 <1 <1

6 <1 <1 <1 <1

<1 <1

1 <1

<1 40

Work Order:

Element. Method. Det.Lim. Units.

BVS-Ol BVS-02 BVS-03 BVS-04 BVS-05

BVS-06 BVS-07 BVS-08 BVS-09 BVS-lO

BVS-lI BVS-12 BVS-13 BVS·14 BVS-15

BVS-16 BVS-17 BVS-IS BVS-19 BVS-20

BVS-21 BVS-22 BVS-23 BVS-24 BVS-25

BVS-26 BVS-27 BVS-28 BVS-29 BVS-30

081390 Date: 10/01105

Mo Nb Nd Ni Pb MMI-MS MMI-M5 MMI-M5 MMI-M5 ~n-M5

5 0.5 1 5 10 ppb ppb ppb ppb ppb

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

2.1 2.9 1.3 104 1.3

0.6 1.1 2.3 1.7 2.9

1.6 L5 1.0 0.8 1.9

1.3 <0.5

0.6 0.6 0.5

2.0 0.9 1.3 104 0.8

0.8 0.7 1.2 1.3 3.2

30 65 16 32 67

8 69 69 28 42

188 62 20 50 83

13 5 7 7

38

16 24

8 37 3

4 66 32

352 168

131 110 110 84 85

57 121 136 53

153

146 101 83

207 145

69 57 47 47 61

93 74

107 73

165

57 100

54 85 91

631 2560

521 320 378

329 386 465 251 236

486 249 538 . 661

2894

457 516 231 232 429

459 299 411 212 453

486 328 249 142 219

FINAL

Pd MMI-M5

1 ppb

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

Pr MMI·M5

1 ppb

6 12 3 7

13

2 13 13 6 9

37 12 4

10 17

3 1 2 2 8

4 5 2 8

<1

<1 13

6 76 35

Rb MMI·MS

5 ppb

45 57 33 56 45

31 63 81 59 55

43 46 42 49 46

45 46 31 34 30

38 48 50 27 38

50 30 43 39 41

Sb MMI-MS

1 ppb

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1

2 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

Sm MMI-M5

1 ppb

9 17 5 9

18

2 19 18 8

11

43 16 5

14 21

4 1 2 2 9

4 7 2

10 <1

<1 16 9

70 35

Sn MMI·MS

1 ppb

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

Page 4 of 9

Sr MMI-M5

10 ppb

21 52

<10 <10 <10

<10 <10 <10 <10 <10

14 <10 <10 .

16 10

<10 <10 <10 <10

35

18 <10

23 39 29

22 10

<10 13 26

Te ~n-MS

10 ppb

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 < 10 <10 <10 <10

<10 <10 <10 <10 <10

TIl Ti Tl MMI-M5 MJ\.U-MS MMI-MS

0.5 3 0.5 ppb

10.2 16.2 5.8 9.3 6.0

2.9 6.6 7.0

13.7 7.8

17.8 6.3

11.2 5.6 604

7.5 2.2 4.0 3.8 4.6

5.6 5.6

16.9 7.8 2.7

3.6 5.1 6.1

1304 15.2

ppb

791 1600 586 671 458

282 569

1190 814

1560

702 756 344 324 984

661 155 211 231 165

1050 392 495 514 417

308 307 571 478

1770

ppb

1.0 0.6 0.6 0.9 0.7

<0.5 0.8 0.7

<0.5 <0.5

<0.5 0.6

<0.5 0.7

<0.5

<0.5 0.7 1.0 1.0 0.6

0.7 <0.5

0.9 <0.5

1.0

0.6 <0.5 <0.5 <0.5 <0.5

Work Order:

Element. Method. Det.Lim. Units.

BVS-31 BVS-32 BVS-33 BVS-34 BVS-35

BVS-36 BVS-37 BVS-38 BVS-39 BVS-40

BVS-41 BVS-42 BVS-43 BVS-44 BVS-45

BVS-46 *BlkBLANK *Std MMISRM14 BVS-47 BVS-48

BVS-49 BVS-50 BVS-51 BVS-52 BVS-53

BVS-54 BVS-55 BVS-56 BVS-57 BVS-58

081390 Date: 10/01105 FINAL Page 5 of 9

~ m ~ M ~ N h D ~ ~ ~ & Th Th TI TI MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS

S O.S S lOIS 10 10 O.S 3 O.S ppb

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

<5 <5 36

<5 <5

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

ppb

2.9 <0.5

2.0 0.7 0.9

0.9 1.1 1.4 1.2 2.9

3.0 1.2 1.3 1.4 0.8

0.8 <0.5 <0.5

0.8 1.0

1.5 0.7 1.5 0.8

<0.5

1.1 1.8 3.4 1.1 0.7

ppb

79 199 49 12 16

7 28 23 21 15

138 61 7

146 203

222 <1

9 147

15

113 24

3 29

133

82 7

19 17 25

ppb

89 77

151 85 88

57 94

102 102 128

102 82 80

107 114

111 16

283 241 139

188 98

132 57 34

135 87

128 161 121

ppb

212 964 269 461 378

433 290 407 386 335

207 260 290 183

7829

7597 <10 120

2285 10030

968 611 519 486 216

382 67

877 1457 1425

ppb

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 63

<1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

ppb

16 45 11 2 3

2 6 5 4 4

28 12 2

31 36

41 <1

1 31

3

22 4

<1 6

33

17 2 4 3 5

ppb

82 36 48 40 36

42 39 42 38 79

47 30 40 44 33

33 <5 279

25 60

64 55 56 46 45

41 29 69 65 41

ppb

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

ppb

21 39 11 3 5

2 9 7 6 4

33 16 2

31 54

56 <1

3 34

6

26 9

<1 7

29

20

5 5 7

ppb

<1 <1 <1 <1 <1

<1 <1 <1 <1 <I

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

ppb

<10 22 94

<10 <10

13 <10

11 12

141

14 19 14 19 18

15 <10 487 210

22

16 <10

12 <10

12

21 <10

46 47 14

ppb

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

ppb

10.3 6.6

10.0 4.0 4.7

3.7 3.0 5.3 4.9

10.6

15.9 3.9 3.1

10.6 12.8

12.2 <0.5 18.8 11.6 7.1

7.1 4.5 3.3 8.0 8.5

5.2 5.9 7.3 4.5 4.4

ppb

1640 44

902 277 330

269 701 669 574 973

1390 565 422 523 234

257 <3 <3 92

358

697 274 678 317 300

537 598

1600 566 369

ppb

0.7 0.6

<0.5 <0.5

0.5

0.5 0.8 0.6 0.5 0.8

0.6 <0.5 <0.5 <0.5

0.6

0.5 <0.5 <0.5

1.4 0.6

<0.5 0.6

<0.5 0.7

<0.5

<0.5 0.8 1.0 0.5

<0.5

Work Order:

Element. Method. Det.Lim. Units.

BVS-59 BVS-60 BVS-61 BVS-62 BVS-63

BVS-64 BVS-65 BVS-66 BVS-67 BVS-68

BVS-69 BVS-70 BVS-71 BVS-72 BVS-73

BVS-74 BVS-75 BVS-76 *Dup BVS-01 *Dup BVS-13

*Dup BVS-25 *Dup BVS-37 *Dup BVS-49 *Dup BVS-61 *Dup BVS-73

*Blk BLANK *Std MM1SRM14

081390 Date: 10/01105 FINAL Page 6 of 9

~ m ~ M ~ N ~ ~ ~ ~ ~ & Th Th TI TI MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5

5 0.5 1 5 10 1 5 1 1 10 10 0.5 3 0.5 ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

<5 35

1.5 0.7 0.5

<0.5 2.5

0.9 0.7 1.1 1.0 0.6

0.8 1.4 2.1 1.6 5.9

1.3 1.0 1.6 2.7 1.1

1.0 1.8 1.7 0.8 6.1

<0.5 <0.5

34 9

10 4

223

11 1 8 4 6

129 13

110 33 64

104 4

105 43 20

4 27

110 11 62

<1 9

199 90 99 47 87

84 192 102 104 79

2292 89

114 103 51

317 47

101 104 78

164 94

187 102

53

17 280

339 434 273 481

3233

800 373

2306 532

7316

1411 743 '201 298 264

241 151 470 538 551

517 236 916 292 275

<10 125

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 59

7 2 2

44

2 <1

2 <1

1

25 3

23 6

14

21

22 9 4

<1 5

22 3

14

<1 1

46 39 68 49 56

46 51 96 27 67

51 41 57 57 50

58 43 45 42 44

38 32 61 68 53

<5 264

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1

9 3 2

53

3 <1

2 <1

2

33 3

26 10 13

26

24 11 6

<1 7

26 3

13

<1 3

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1

38 <10

15 12

< 10

<10 74 20 14 24

52 10

<: 10 10 11

94 14 13 26

< 10

26 17 16 18

<10

<10 459

<10 <10 < 10 < 10 <10

< 10 < 10 < 10 < 10 < 10

< 10 < 10 <10 <10 <10

< 10 <10 <10 <10 <10

<10 < 10 <10 < 10 <10

<10 <10

7.0 3.7 4.5 3.6

27.4

6.9 4.1

23.2 3.8 3.9

7.1 6.6

11.6 7.2

10.6

9.8 3.4 7.7

11.8 11.3

3.2 3.0 6.7 5.4

10.3

<0.5 18.0

673 252 182 122

1310

508 277 542 460 146

326 625

1170 630

2700

629 255 627

1290 442

524 1080 841 303

2740

<3 <3

0.6 <0.5

1.3 0.8

<0.5

0.6 0.7 0.6

<0.5 0.7

<0.5 0.7

<0.5 <0.5

0.8

<0.5 0.5

<0.5 0.5

<0.5

1.0 <0.5 <0.5

1.3 0.8

<0.5 <0.5

Work Order: 081390 Date: 10/01/05 FINAL Page 7 of 9

Element. U W Y Yb Zn Zr Method. MMI-MS MMI-MS MMI-MS MMI-MS MMI-M5 MMI·M5 Det.Lim. 1 1 5 1 20 5 Units. ppb ppb ppb ppb ppb ppb

BVS-Ol 5 2 57 4 549 14 BVS-02 13 2 136 12 2850 16 BVS-03 6 <1 54 5 1605 12 BVS-04 8 <1 94 8 806 12 BVS-05 6 <1 108 8 627 13

BVS-06 4 <1 43 5 965 8 BVS-07 8 <1 142 10 1128 16 BVS-08 9 <1 141 10 866 18 BVS-09 8 <1 68 7 782 18 BVS-lO 5 <1 68 6 658 18

BVS-ll 16 <1 193 14 950 14 BVS-12 8 <1 89 8 403 12 BVS-13 8 <1 56 5 1001 17 BVS-14 6 <I 94 7 2933 10 BVS-15 5 <1 120 8 1996 14

BVS-16 6 <1 46 5 1303 26 BVS-17 3 <1 31 4 549 8 BVS-18 4 <1 38 5 459 12 BVS-19 4 <1 35 5 485 11 BVS-20 3 <1 55 4 1242 10

BVS-21 5 <I 61 8 539 13 BVS-22 6 <1 59 5 328 10 BVS-23 19 <1 15 4 338 14 BVS-24 4 <1 49 4 60 12 BVS-25 4 <1 11 5 227 8

BVS-26 4 <1 16 4 811 9 BVS-27 6 <1 103 8 607 9 BVS-28 6 <I 81 7 580 11 BVS-29 21 <1 225 15 485 14 BVS-30 14 <1 127 9 302 17

Work Order: 081390 Date: 10/01/05 FINAL Page 8 of 9

Element. U W Y Yb Zn Zr Method. MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 Det.Lim. 1 1 5 1 20 5 Units. ppb ppb ppb ppb ppb ppb

BVS-31 12 <1 118 11 811 19 BVS-32 30 <1 256 20 162 5 BVS-33 8 <1 65 5 1227 13 BVS-34 3 <1 55 5 975 9 BVS-35 3 <1 57 5 908 10

BVS-36 3 <1 39 4 1017 8 BVS-37 2 <1 54 5 337 7 BVS-38 6 <1 79 8 1234 11 BVS-39 6 <1 79 7 1255 10 BVS-40 8 <1 42 6 3037 15

BVS-41 13 <1 134 11 526 19 BVS-42 5 <1 78 5 968 9 BVS-43 3 <1 39 6 700 9 BVS-44 11 <1 123 9 452 13 BVS-45 93 <1 209 12 111 10

BVS-46 87 <1 198 12 27 10 *Blk BLANK <1 <1 <5 <1 <20 <5 *Std MMISRM14 48 <1 7 <1 338 14 BVS-47 32 3 161 9 39 15 BVS-48 16 <1 95 9 1826 9

BVS-49 11 <1 127 10 395 12 BVS-50 7 <1 127 11 1262 8 BVS-51 5 7 12 3 2507 9 BVS-52 11 <1 56 5 226 13 BVS-53 11 <1 123 9 250 18

BVS-54 8 <1 96 7 149 10 BVS-55 4 <1 <5 <1 23 15 BVS-56 3 <1 44 4 3186 16 BVS-57 4 <1 80 7 2966 7 BVS-58 5 <1 94 8 1547 8

Work Order: 081390 Date: 10/01105 FINAL Page 9 of 9

Element. U W Y Yb Zll Zr Method. MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 Det.Lim. 1 1 5 1 20 5 Units. ppb ppb ppb ppb ppb ppb

BVS-59 5 <1 62 5 6579 11 BVS-60 3 <1 35 4 809 11 BVS-61 6 <1 23 3 349 8 BVS-62 8 <1 10 3 477 7 BVS-63 113 1 261 21 251 26

BVS-64 5 <1 39 4 848 12 BVS-65 6 <1 <5 2 270 6 BVS-66 30 <1 49 5 4354 16 BVS-67 4 <1 24 4 1221 8 BVS-68 4 <1 34 4 4676 9

BVS-69 11 <1 141 9 2193 11 BVS-70 5 <1 42 4 1092 14 BVS-71 11 <1 114 9 977 19 BVS-72 10 <1 78 7 812 14 BVS-73 6 1 60 5 721 30

BVS-74 33 <1 125 9 1105 10 BVS-75 2 <1 5 2 252 9 BVS-76 11 <1 101 8 513 12 *Dup BVS-Ol 6 <1 65 5 592 16 *Dup BVS-13 8 <1 55 5 1071 19

*Dup BVS-25 4 <1 13 5 226 9 *Dup BVS-37 2 <1 53 4 452 12 *Dup BVS-49 10 <1 125 10 389 12 *Dup BVS-61 6 <1 24 3 441 9 *Dup BVS-73 6 <1 66 6 725 30

*BlkBLANK <1 <1 <5 <1 <20 <5 *Std MMISRM14 46 <1 7 <1 322 14

CERTIFICATE OF ANALYSIS

Work Order: 081391

To: Nikos Exploration Ltd. Attn: Roger Moss

326 Rusholme Rd. TORONTO ON/CANADA/IV16H 2Z5

Copy 1 to

BELLEVUE P.O. No. Project No. No. of Samples Date Submitted Report Comprises

52 Soil (MMI) 03/12/04 Cover Sheet plus Pages 1 to 9

Distribution of unused material: Pulps: Discarded After 90 Days Unless Instructed!!! Rejects: Discarded After 90 Days Unless Instructed!!!

Certified By

Date 03/01/05

Tim Elliott, Operations Manager

ISO 9002 REGISTERED

ISO 17025 Accredited for Specific Tests. SCC No. 456

Report Footer: L.N.R. = Listed not received I.S. = Insufficient Sample n.a. = Not applicable = No result *INF = Composition of this sample makes detection impossible by this method M after a result denotes ppb to ppm conversion, % denotes ppm to % conversion

Subject to SGS General Terms and Conditions

SGS Canada Inc. Mineral Services 1885 Leslie Street Toronto ON M38 2M3 t (416) 445-5755 f (416) 445-4152 www.sgs.ca

Member of the SGS Group (Societe Generale de Surveillance)

Work Order:

Element. Method. Det.Lim. Units.

BVS-77 BVS-78 BVS-79 BVS-80 BVS-81

BVS-82 BVS-83 BVS-84 BVS-85 BVS-86

BVS-87 BVS-88 BVS-89 BVS-90 BVS-9l

BVS-92 BVS-93 BVS-94 BVS-95 BVS-96

BVS-97 BVS-98 BVS-99 BVS-lOO BVS-101

BVS-I02 BVS-103 BVS-I04 BVS-I05 BVS-106

081391

Ag MMI-MS

1 ppb

9 8

20 8

12

13 9 6 3 4

18 26 9 8

14

4 14 9 6 3

7 2 4

10 12

9 7 5 9 6

Date: 03101/05

As MMI-MS

10 ppb

<10 <10 <10 <10 <10

<10 <10 <10 <lO <10

<10 <10

11 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 < 10 <10 <10

Au MMI-MS

0.1 ppb

<0,1 <0,1 <0.1 <0.1 <0.1

<0,1 <0,1 <0.1 <0,1 <0.1

<0,1 0.1 0.1 0.1

<0.1

<0.1 0.2

<0.1 <0.1 <0.1

<0.1 <0.1 <0.1 <0.1 <0.1

<0.1 <0.1 <0.1 <0.1 <0.1

Ba MMI-MS

10 ppb

412 1079 256 231 885

2193 348 553 236

1075

103 82

150 122 115

189 56 73 51 54

70 28

167 102 90

152 260 130 200 135

FINAL

Bi Ca Cd Ce Co MMI-MS Ml\U-MS MMI-MS MMI-MS l\11\-H-MS

10 10 S 5 ppb ppm ppb ppb ppb

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <I <1

<1 <1 <1 <I <1

126 22 15 11

218

171 11

131 11

167

11 <10 <10 <10 <10

27 <10 <10 <10 <10

<10 <10

19 <10 <10

<10 38

<10 20

<10

11 22 24 26 75

29 33 20 90 55

10 67 40 29 22

22 30 26 27 12

41 14 58 14 13

20 13 II 25 18

158 147 214 119 62

70 38

194 34 34

198 17

457 432 118

251 142 189 29 12

19 16 78

166 165

14 86 55

190 21

97 140

35 129 62

36 61 38 48

141

40 101 88 84 56

228 135 58 12 18

10 18 93 75 87

57 64 39 13 61

Cu MMI-MS

10 ppb

325 297 212 121 132

274 123 108 104 133

205 190 842 715 362

353 1098 372

98 74

175 62

394 313 353

95 229 129 237

1114

Dy MMI-MS

1 ppb

50 70 38 28 49

66 19 25 14 6

43 9

77 67 39

49 52 24 11 5

12 9

27 27 29

4 18 13 42 38

Page 1 of 9

Er MMI-MS

O.S ppb

21.1 28.7 16.1 12.0 19.7

29.2 10,3 11.2 7,6 3.4

18.8 5.0

37.1 3l.8 16.2

22.9 23.8 11.1 5.9 4,0

6.4 5.4

13,5 12.2 12,6

4.1 7.9 6.1

18.9 25.8

Eu MMI-MS

0.5 ppb

15.2 15.2 10.8 6,3

12.1

17.1 2,6 8.6 2.2 1.4

11.4 0,9

21.9 20.0 10.8

7.8 11.6 4,9 1.8

<0.5

1.4 0.8 4.4 6.7 7.1

<0.5 4.5 3.1

10.8 3.6

Gd MMI-MS

1 ppb

67 72 50 31 71

87 13 37 10 6

55 5

102 93 48

48 55 22

8 2

7 4

21 30 32

2 20 13 49 20

La Mg MMI-M5 MMI-MS

ppb ppm

133 42 87 42 64

208 15 87 13 21

110 5

205 186 94

48 35 33 10 5

7 7

18 55 54

4 37 20 94

6

2 4

<1 <1 19

13 <I

6 <1 14

<1 <1 <1 <1 <1

10 <1 <1 <1 <1

<1 <1

2 <I <1

<1 2

<1 1

<1

Work Order:

Element. Method. Det.Lim. Units.

BVS-107 BVS-108 BVS-109 BVS-110 BVS-ll1

BVS-112 BVS-113 BVS-114 BVS-1l5 BVS-1l6

BVS-1l7 BVS-1l8 BVS-1l9 BVS-120 BVS-121

BVS-122 *BlkBLANK *Std MMISRM14 BVS-123 BVS-124

BVS-125 BVS-126 BVS-127 BVS-128 *Dup BVS-77

*Dup BVS-89 *Dup BVS-I01 *Dup BVS-113 *Dup BVS-125 *BlkBLANK

081391 Date: 03/01105

Ag As MMI-M5 MMI-MS

1 10 ppb ppb

12 2 7 5 8

8 8

14 9

13

11 9

14 6

22 <1 21 10 12

9 9 3 3 8

8 12 8 9

<1

<10 <10 <10 <10 <10

<10 <10 <10

11 26

12 <10 <10 <10 <10

< 10 < 10

14 81

<10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

Au MMI-M5

0.1 ppb

<0.1 <0.1 <0.1 <0.1 <0.1

<0.1 <0.1 <0.1 <0.1 <0.1

<0.1 <0.1 <0.1 <0.1 <0.1

0.1 <0.1 50.3 0.1

<0.1

<0.1 <0.1 <0.1 <0.1 <0.1

<0.1 <0.1 <0.1 <0.1 <0.1

Ba IvtMI-MS

10 ppb

147 123 302

1131 157

93 115 788 233 189

427 258

85 226 104

130 <10

84 417 503

244 239 159 38

388

130 89 93

233 <10

FINAL

Bi Ca Cd MMI-M5 MMI-M5 MMI·MS

1 10 10 ppb ppm ppb

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

81 <10

58 140 20

<10 <10 216

<10 12

170 88

<10 <10 <10

<10 <10 287 152 48

11 12

<10 <10 112

<10 <10 <10

11 <10

25 81 45 82 24

30 29 34 25 10

13 16 17 46 51

15 <10 <10

27 31

23 21 68 37 10

36 13 28 23

<10

Ce MMI-M5

5 ppb

64 13

182 42 39

68 57 91 56

1225

147 104 84 53 21

208 <5 17 64

156

152 152

10 13

145

459 151 67

131 <5

Co MMI-MS

5 ppb

90 55

<5 31 46

28 46 13 57

188

11 6

37 61 35

62 <5 52 67 47

59 49 40 25

109

75 83 50 55

<5

Cu MMI-M5

10 ppb

382 223 848 586

99

133 157 566 226 348

258 377 118 174 365

437 <10 759 197 215

291 273 738 474 286

623 340 137 298

<10

Dy MMI·MS

1 ppb

17 10 67 74 12

25 24 32 8

59

44 47 25 23 10

50 <1

2 22 24

27 27 16 15 47

66 28 26 26

<1

Page 2 of 9

Er MMI-M5

0.5 ppb

7.4 6.6

31.5 42.7

6.3

11.9 12.0 14.7 4.9

23.9

19.8 19.1 11.3 12.6 6.4

20.2 <0.5

0.9 11.5 10.3

11.8 11.9 14.2 10.1 20.2

31.3 13.3 13.0 12.1

<0.5

En MMI-MS

0.5 ppb

3.7 0.8

13.7 10.8 2.3

4.6 4.1

11.0 1.8

15.7

18.3 17.3 5.4 2.5 1.0

16.5 <0.5

0.9 5.0 6.9

7.1 7.1 0.6 1.2

13.2

20.8 6.7 4.6 6.4

<0.5

Gd La Mg MMI-M5 MMI-M5 MMI-M5 111

ppb ppb ppm

18 4

66 57 10

21 19 51

8 65

83 81 24 12 5

71 <1

5 25 30

33 33

4 7

60

96 31 21 30

<1

32 6

78 51 13

25 22

158 25

143

310 234

29 12 9

148 <1

3 50 57

66 66

4 5

114

202 50 25 58 <1

6 <1

7 23

<1

<1 <1

6 <1 <1

9 4

<1 <1 <1

<1 <1 43

9 2

<1 <1

2

<1 <1 <1

1 <1

Work Order: 081391 Date: 03101105 FINAL Page 3 of 9

Element. Ag As Au Ba Bi Ca Cd Ce Co Cu Dy Er Eu Gd La Mg Method. MMI-M5 MMI-MS M~U-MS MMI-M5 MMI-M5 MMI-M5 ~U-MS MMI-M5 MMI-MS MMI-MS MMI-MS MMI-M5 MMI-M5 MMI-MS MMI-MS MMI-MS Det.Lim. 1 10 0.1 10 1 10 10 S S 10 1 O.S O.S 1 1 Units. ppb ppb ppb ppb ppb ppm ppb ppb ppb ppb ppb ppb ppb ppb ppb ppm

*Std MMISRM14 20 15 50.3 83 <1 279 <10 18 54 752 3 1.0 1.0 5 3 41

Work Order:

Element. Method. Det.Lim. Units.

BVS-77 BVS-78 BVS-79 BVS-80 BVS-81

BVS-82 BVS-83 BVS-84 BVS-85 BVS-86

BVS-87 BVS-88 BVS-89 BVS-90 BVS-91

BVS-92 BVS-93 BVS-94 BVS-95 BVS-96

BVS-97 BVS-98 BVS-99 BVS-100 BVS-101

BVS-102 BVS-103 BVS-104 BVS-105 BVS-106

081391 Date: 03/01105 FINAL Page 4 of 9

~ ~ ~ MAN ~ ~ ~ ~ ~ & Th Th TI TI MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5

5 0.5 1 5 10 1 1 5 1 1 1 10 10 0.5 3 0.5 ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb

<5 <5 <5 <5 <5

<5 <5 <5 <5

6

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

2.4 1.6 2.9 3.1 0.9

0.9 1.0 2.2 0.9 0.9

0.9 0.8 3.7 3.4 1.3

1.6 <0.5

1.0 0.9 0.6

0.6 0.9 1.1 2.9 2.3

1.0 1.4 1.0 1.0

<0.5

233 199 189 104 133

276 34

148 27 23

224 10

417 381 195

135 158 79 21

6

16 10 59

109 119

5 67 42

204 34

96 175 88

107 119

85 119 90 91 76

141 119 112 92 75

333 164 161 66 55

60 55

159 121 122

98 84 60

126 96

135 296 292 445 252

260 458 232 445

87

482 1666 690 590 444

310 1266 466 309 307

374 565

1173 295 306

974 860 441 188 646

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

51 35 39 21 26

61 7

33 5 6

48 2

87 80 42

26 28 16 4

3 2

11 23 25

15 9

43 5

52 61 78

131 123

70 58

149 45

117

57 223 119 102 50

113 73 70 55 40

50 39 64 63 56

76 56 44 66 48

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

58 59 45 27 46

67 10 35

8 5

48 3

93 85 43

35 41 19 6 2

5 3

16 26 28

17 11 44 12

<1 <1 <1 <1

<1 <1 <1

2 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

20 <1 <1 <1 <1

<1 <1 <1 <1 <1

150 129

36 34

405

336 37

162 43

440

31 <10

18 17 19

79 <10

17 <10 <10

<10 <10

62 24 22

24 104 24 71 19

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

< 10 < 10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

<10 <10 <10 <10 <10

17.6 11.2 16.2 12.2 10.8

11.0 5.2

14.2 4.5 6.5

8.9 7.2

36.5 36.7 8.3

7.8 5.2 6.5 4.9 2.0

4.2 4.8 8.4

11.7 11.0

3.0 13.1 4.2 7.9 2.7

660 519

1080 1490 349

263 343

1100 270 244

289 240

2260 2190

408

539 87

438 268 197

157 158 423

1480 1100

377 526 325 437 94

<0.5 0.6 0.7 0.7

<0.5

<0.5 <0.5 <0.5 <0.5

0.7

<0.5 0.8 0.6

<0.5 0.5

0.8 0.8 0.6 0.7 0.9

0.8 <0.5

0.6 0.6 0.5

0.7 <0.5

0.6 <0.5 <0.5

Work Order:

Element. Method. Det.Lim. Units.

BVS-107 BVS-108 BVS-109 BVS-ll0 BVS-l11

BVS-112 BVS-113 BVS-114 BVS-115 BVS-116

BVS-117 BVS-118 BVS-119 BVS-120 BVS-121

BVS-122 *B1kBLANK *Std MMISRM14 BVS-I23 BVS-124

BVS-125 BVS-126 BVS-127 BVS-128 *Dup BVS-77

*Dup BVS-89 *Dup BVS-101 *Dup BVS-113 *Dup BVS-125 *B1k BLANK

081391 Date: 03/01/05

Mo Nb Nd MM1-M5 MMI-M5 MM1-M5

5 0.5 1 ppb

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

5 <5 <5 <5 <5

<5 <5 30

<5 <5

<5 <5 <5 <5 <5

<5 <5 <5 <5 <5

ppb

<0.5 0.8 0.6

<0.5 1.9

1.3 1.4 1.3 3.7 6.4

3.9 0.7 1.2 1.2 0.5

1.5 <0.5 <0.5

5.1 2.0

1.2 1.3 0.6 0.6 1.8

3.3 2.2 1.4 1.1

<0.5

ppb

60 8

173 121 30

60 52

218 29

265

445 352 76 28 12

309 <1 15 82

102

134 135

7 11

195

405 108 61

116 <1

Ni MM1-M5

5 ppb

95 98

161 159 112

49 50 49

129 114

53 37

106 160 80

107 <5 242 158 131

118 112 53 72 81

97 118 49

118 <5

FINAL

Pb Pd Pr Rb MMI-M5 MMI-M5 MM1-M5 MMI-M5

10 1 5 ppb ppb ppb ppb

478 553 109 542 462

354 315 215 368 331

316 248 407

1406 405

327 <10 158 422 416

471 570 437 462 154

576 321 342 509

< 10

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

<1 <1 51

<1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

12 2

34 23

6

12 10 49 7

60

103 76 15 6 3

67 <1

2 17 21

29 29

1 2

42

86 23 12 25 <1

63 52

100 103 80

76 74

127 65 91

135 65 71 63 36

44 <5 291 110 59

58 55 51 54 43

99 57 74 54

<5

Sb MMI-M5

ppb

<1 <1 <1 <1 <1

<1 <1 <1 <1

1

<1 <1 <1 <1 <1

<1 <1

1 <1 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

Sm MMI-M5

1 ppb

14 2

48 36

8

16 14 48 7

68

84 76 20

8 3

67 <1

5 20 25

29 29

2 4

51

90 26 16 26 <1

Page 5 of 9

~ & Th Th TI TI MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5

10 10 0.5 3 0.5 ppb ppb ppb ppb ppb ppb

<1 <1 <1 <1 <1

<1 <1 <1 <1

1

<1 <1 <1 <1 <1

<1 <1 <1

2 <1

<1 <1 <1 <1 <1

<1 <1 <1 <1 <1

176 20

122 396 64

<10 13

227 45 37

250 173

16 11

<10

15 < 10 592 260 101

47 49 36

<10 126

13 20

<10 45

< 10

<10 < 10 <10 < 10 < 10

< 10 <10 <10 <10 <10

<10 <10 < 10 <10 <10

<10 < 10 <10 < 10 < 10

<10 <10 <10 <10 <10

<10 <10 <10 <10 < 10

6.4 3.8

13.4 6.9 4.0

6.7 7.0

20.3 22.1 106

28.8 14.3 5.8 7.2 2.6

16.6 <0.5 20.4 19.0 12.8

7.6 8.5 4.0 1.9

17.9

39.5 11.0 6.7 8.0

<0.5

111 199 181 82

956

487 549 494

1240 2890

1850 264 445 586

96

561 <3 <3

3510 922

451 495 244 163 604

2120 1050 536 414 <3

<0.5 <0.5 <0.5 <0.5 <0.5

<0.5 <0.5 <0.5

0.8 1.1

<0.5 <0.5 <0.5

0.5 <0.5

<0.5 <0.5 <0.5

0.6 <0.5

<0.5 <0.5

0.7 0.6

<0.5

0.5 0.5

<0.5 <0.5 <0.5

Work Order: 081391 Date: 03/01105 FINAL Page 6 of 9

Element. Mo Nb Nd Ni Pb Pd Pr Rb Sb Sm Sn Sr Te Th Ti TI Method. MMI-M5 J\lMI-M5 MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS MMI-M5 MMI-MS MMI-MS MMI-M5 MMI-M5 MMI-MS MMI-M5 MMI-MS MMI-MS Det.Lim. 5 0.5 5 10 1 1 S 1 1 10 10 O.S 3 0.5 Units. ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb ppb

*Std MMISRM14 30 <0,5 15 248 176 51 2 283 <1 5 <1 574 <10 21.9 <3 <0.5

Work Order: 081391 Date: 03/01105 FINAL Page 7 of 9

Element. U W Y Yb Zn Zr Method. MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 MMI-M5 Det.Lim. 5 20 5 Units. ppb ppb ppb ppb ppb ppb

BVS-77 14 3 228 14 123 18 BVS-78 11 2 269 17 786 11 BVS-79 14 2 183 10 1116 19 BVS-80 8 124 7 839 19 BVS-81 21 <1 235 11 4355 8

BVS-82 39 <1 415 16 355 9 BVS-83 4 <1 93 7 1829 10 BVS-84 10 <1 122 7 1322 15 BVS-85 4 <1 72 5 7416 7 BVS-86 29 <1 36 3 1392 7

BVS-87 7 <1 211 11 36 11 BVS-88 7 <1 36 3 1093 9 BVS-89 24 1 392 26 706 39 BVS-90 23 <1 333 22 437 39 BVS-91 13 <1 179 10 710 10

BVS-92 8 <1 232 14 283 15 BVS-93 13 <1 270 15 849 6 BVS-94 4 <1 112 7 772 9 BVS-95 4 <1 54 4 1161 8 BVS-96 2 <1 27 3 258 <5

BVS-97 4 <1 57 4 1161 8 BVS-98 4 <1 42 4 193 10 BVS-99 6 <1 126 9 3932 8 BVS-100 7 <1 120 8 419 18 BVS-101 8 <1 130 8 351 15

BVS-102 3 <1 21 3 119 6 BVS-103 10 <1 73 5 161 13 BVS-104 3 <1 59 4 458 10 BVS-105 11 <1 209 12 1028 6 BVS-106 8 <1 219 18 604 <5

Work Order: 081391 Date: 03/01105 FINAL Page 8 of 9

Element. U W Y Yb Zn Zr Method. MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS MMI-MS Det.Lim. 1 1 5 1 20 5 Units. ppb ppb ppb ppb ppb ppb

BVS-107 13 <1 79 4 406 <5 BVS-I08 3 <1 44 5 2964 <5 BVS-109 10 <1 324 18 1329 13 BVS-110 12 <I 417 25 4260 <5 BVS-111 4 <I 59 4 307 6

BVS-112 7 <1 113 8 1125 10 BVS-113 8 <1 109 8 1259 9 BVS-114 48 <1 155 9 985 11 BVS-115 9 <1 30 4 873 30 BVS-116 40 2 170 18 83 55

BVS-117 47 3 213 13 630 21 BVS-118 55 <1 226 11 159 8 BVS-119 6 <1 111 7 807 7 BVS-120 7 <1 91 9 4400 15 BVS-121 3 <1 49 4 1368 <5

BVS-122 18 <1 215 13 826 12 *B1k BLANK <1 <1 <5 <1 <20 <5 *Std MMISRM14 44 <1 10 <1 442 14 BVS-123 10 2 103 8 1390 15 BVS-124 9 <1 101 7 1885 11

BVS-125 6 <1 125 7 901 8 BVS-126 7 <1 123 7 749 8 BVS-127 5 <1 79 11 1884 7 BVS-128 4 <1 81 7 1289 <5 *Dup BVS-77 15 <1 206 13 103 12

*Dup BVS-89 23 <1 348 21 582 34 *Dup BVS-101 8 <1 123 9 365 15 *Dup BVS-113 8 <1 115 8 1041 8 *Dup BVS-125 6 <1 119 8 854 9 *B1kBLANK <1 <1 <5 <1 <20 <5

Work Order: 081391 Date: 03/01105 FINAL Page 9 of 9

Element. U W Y Yb Zn Zr Method. MMI-MS MMI-M5 MMI-MS MMI-MS MMI-MS MMI-M5 Det.Lim. 1 I 5 1 20 5 Units. ppb ppb ppb ppb ppb ppb

·Std MMISRM14 46 <1 11 <1 379 13

APPENDIX 3. SAMPLE DUPLICATES AND STANDARDS

Field Standards used in Quality Control Program - Rock Samples Sample 10 Au Ag Co Cr Fe Ni In Ag Cu Ni

~~b ~pm ~pm ppm % epm epm e~m p~m ppm BV04-3 (CCU-1 c) 4880 142 18 35 26.7 -20 38600 104.2 99999 25 Reccomended Values 4940 129 18* 30* 29.3 11 39900 129.0 256200 11*

BV04-4 (MP1 a) -6 1330 72 -5 9.96 -20 275000 208.2 6607 6 Reccomended Values NA NA NA NA NA NA 346500 167.0 6290 NA

Laboratory Standards and Duplicates - Rock Samples. Sample 10 Au Cr Fe Ag Cu Ni

epb e~m % ~~m e!!m !!!!m 09-04-018Pulp Duplic -3 36 7.18 DM02Puip Duplicates -2 212 0.27 09-04-038Preparation -2 119 6.93 09-04-018Pulp Duplicates -0.3 77 14

09-04-038Preparation duplicate (1) -0.3 33 98 09-04-038Preparation duplicate (2) -0.3 30 100

Percent Difference 0.00 8.86 1.43

09-04-005 (1) -0.3 74 23 09-04-005 (2) -0.3 74 26 Percent Difference 0.00 0.42 10.40 09-04-019 (1) -0.3 247 35

09-04-019 (2) -0.3 259 39

Percent Difference 0.00 4.80 10.50 09-04-034 (1) -0.3 59 89 09-04-034 (2) -0.3 56 91

Percent Difference 0.00 5.13 1.96 09-04-048 (1) -0.3 55 146

09-04-048 (2) -0.3 49 143

Percent Difference 0.00 10.77 2.38 09-04-069 (1) -0.3 68 99 09-04-069 (2) -0.3 62 99 Percent Difference 0.00 8.08 0.11 BLANK 4 -5 0.05 BLANK -2 -5 -0.01 DMMAS-10-1 478 132 7.58 DMMAS-10-2 485 131 7.45 DMMAS-10-3 558 152 7.84 DMMAS-10-4 689 141 7.42 Dmmas-10 Recommended values 540 149 7.64 DMMAS-9-1 547 130 7.41 DMMAS-9-2 563 128 7.66 DMMAS-9-3 575 126 7.44 DMMAS-9-4 561 120 7.29 DMMAS-9-5 529 136 6.73 DMMAS-9-6 575 121 7.74 DMMAS-9 Recommended Values 527 115 6.89

AN-G cert 19 35 AN-G 0.4 16 35 AN-G -0.3 11 34 SDC-1 cert 0.041 30 38 SDC-1 -0.3 29 34 SDC-1 -0.3 38 36 SDC-1 -0.3 24 31 DNC-1 cert (.027 96 247 DNC-1 -0.3 80 243 DNC-1 -0.3 92 248 SCO-1 cert 0.134 28.7 27 SCO-1 -0.3 23 25 SC0-1 -0.3 28 27 SCO-1 -0.3 28 27 GXR-6 cert 1.3 66 27 GXR-6 0.3 55 23 GXR-6 0.5 69 27 GXR-6 -0.3 70 24 GXR-2 cert 17 76 21 GXR-2 16.5 62 17 GXR-2 16.4 79 19 GXR-2 17.2 78 17 GXR-1 cert 31 1110 41 GXR-1 31.7 988 45 GXR-1 30.9 1158 41 GXR-1 29.9 1124 43 GXR-4 cert 4 6520 42 GXR-4 2.8 5069 38 GXR-4 3.1 6154 39 GXR-4 3.0 6392 41

Field Duplicates Used for Quality Control in Soil Sampling Program Sample 10 Ag Au Co Cu Ni

ppb ppb ppb ppb ppb bvs-07 40 <0.1 24 872 121 bvs-08 43 <0.1 28 708 136 Percent Difference 6.98 0.00 14.29 18.81 11.03 bvs-18 2 <0.1 24 335 47 bvs-19 3 <0.1 26 345 47 Percent Difference 33.33 0.00 7.69 2.90 0.00 bvs-34 4 <0.1 27 198 85 bvs-35 4 <0.1 27 211 88 Percent Difference 0.00 0.00 0.00 6.16 3.41 bvs-38 5 <0.1 34 183 102 bvs-39 5 <0.1 35 198 102 Percent Difference 0.00 0.00 2.86 7.58 0.00 bvs-45 10 0.2 66 686 114 bvs-46 10 0.2 51 610 111 Percent Difference 0.00 0.00 22.73 11.08 2.63 bvs-57 6 <0.1 156 193 161 bvs-58 7 <0.1 174 342 121 Percent Difference 14.29 0.00 10.34 43.57 24.84 bvs-89 9 0.1 88 842 112 bvs-90 8 0.1 84 715 92 Percent Difference 11.11 0.00 4.55 15.08 17.86 bvs-100 10 <0.1 75 313 121 bvs-101 12 <0.1 87 353 122 Percent Difference 16.67 0.00 13.79 11.33 0.82 bvs-112 8 <0.1 28 133 49 bvs-113 8 <0.1 46 157 50 Percent Difference 0.00 0.00 39.13 15.29 2.00 bvs-125 9 <0.1 59 291 118 bvs-126 9 <0.1 49 273 112 Percent Difference 0.00 0.00 16.95 6.19 5.08

Lab Duplicates - Soil Sampling Program Sample 10 Ag Au Co Cu Ni

EEb EEb EEb EEb EEb DUP-8VS-01 10 <0.1 53 120 104 bvs-01 9 <0.1 55 130 131 Percent Difference 10.00 0.00 3.64 7.69 20.61 DUP-8VS-13 7 0.05 19 327 78 bvs-13 7 0.2 18 333 83 Percent Difference 0.00 75.00 5.26 1.80 6.02 DUP-8VS-25 17 <0.1 36 309 164 bvs-25 14 <0.1 36 300 165 Percent Difference 17.65 0.00 0.00 2.91 0.61 DUP-8VS-37 4 0.05 56 137 94 bvs-37 4 0.5 55 145 94 Percent Difference 0.00 90.00 1.79 5.52 0.00 DUP-8VS-49 11 <0.1 117 258 187 bvs-49 11 <0.1 115 262 188 Percent Difference 0.00 0.00 1.71 1.53 0.53 DUP-8VS-61 3 <0.1 292 707 102 bvs-61 3 <0.1 271 731 99 Percent Difference 0.00 0.00 7.19 3.28 2.94 DUP-8VS-73 2 <0.1 9 89 53 bvs-73 2 <0.1 10 86 51 Percent Difference 0.00 0.00 10.00 3.37 3.77 DUP-8VS-77 8 <0.1 109 286 81 bvs-77 9 <0.1 97 325 96 Percent Difference 11.11 0.00 11.01 12.00 15.63 DUP-8VS-89 8 <0.1 75 623 97 bvs-89/90 8.5 0.1 86 778.5 102 Percent Difference 5.88 0.00 12.79 19.97 4.90 DUP-8VS-101 12 <0.1 83 340 118 bvs-100/101 11 <0.1 81 333 121.5 Percent Difference 8.33 0.00 2.41 2.06 2.88 DUP-8VS-113 8 <0.1 50 137 49 bvs-112/113 8 <0.1 37 145 49.5 Percent Difference 0.00 0.00 26.00 5.52 1.01 DUP-8VS-125 9 <0.1 55 298 118 bvs-125/126 9 <0.1 54 282 115 Percent Difference 0.00 0.00 1.82 5.37 2.54

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