Molybdenum

Nortoba-Tyson Project

In 2004, Roxmark acquired the Nortoba-Tyson property, a high-grade gold and molybdenum property consisting of 16 claims on 640 acres. It is located in Dorothea Township in the mining district of Thunder Bay, four miles north of Roxmark’s Sand River/Leitch Gold Mine project and nine miles northwest (14 miles by road) from Roxmark’s permitted 200-ton-per-day Northern Empire milling facility.In January 2005, Roxmark acquired an additional 39 claims totalling 1,560 acres which surround the Nortoba-Tyson property on the north south and east.

Over its history, the Nortoba-Tyson property has been the subject of considerable interest, with 8,700 feet of diamond drilling, extensive trenching and bulk sampling, ground geophysics, etc. yielding positive results. The #1, #1A, #2 and #7 gold veins were partially evaluated. Bulk samples totalling 135 tons from #1A vein yielded 139 ounces of gold averaging 1.03 oz. per ton (Geological Report 122, 1975 Mackasey, Ministry of Northern Development and Mines).

Historically, the #3 vein received most of the attention because of its high-grade molybdenum content. An assessment by A.E. Tyson in 1959, concurred with by Dr. E.G. Pye for the Ontario Department of Mines, outlined a possible reserve of 72,000 tons averaging 1.73% MoS2 (equal to 1.04% Mo grade) over a 3.0 foot mining width to an initial depth of 375 feet. The zone is open at depth. A second, parallel zone was also intersected in some of the drilling approximately 75 feet to the south. It’s important to stress that these possible reserve estimates were calculated according to the standards of the time, which do not comply with National Instrument 43-101 and today would likely be considered inferred resources. However, Peter A. Bevan, an independent consulting geologist and a Qualified Person according to NI 43-101, has verified the estimate of 72,000 tons using available historical data.

The Nortoba-Tyson gold and molybdenum system is parallel to and structurally related to Roxmark's Sand River/Leitch Mine gold project which is know to persist to depths in excess of 5,000 feet. Deep drilling will be required to assess the molybdenum veins' ultimate potential. (for more details – see the Technical Report on the Nortoba Tyson Molybdenite Property dated April 2006)