Notes on News

- January 12th, 2009

Sprott Moly fund is being “unwound”.  They are distributing the assets to shareholders. ELN  – high grade copper on Democratic Republic of Congo including 7m of 7% copper and 21m of 2.4% copper.  $2.7m cash. LAT – 7g/t gold in Paraguay.  $5.2m in cash GEM – lots of uranium drill results in Ontario.  All low … Continued

Sprott Moly fund is being “unwound”.  They are distributing the assets to shareholders.

ELN  – high grade copper on Democratic Republic of Congo including 7m of 7% copper and 21m of 2.4% copper.  $2.7m cash.

LAT – 7g/t gold in Paraguay.  $5.2m in cash

GEM – lots of uranium drill results in Ontario.  All low grade.  Still $4.6m in cash

FWR – a small batch of results including 13.7g/t gold over 2m.  $10m cash

CBS – Moly results in BC.  Latest release is for a sample only, but past results include up to 0.15% moly.  $2.4m cash

***CSI – 60m of 14.37g/t gold and 1.8g/t platinum in Brazil.  Other good results as well.  $11m in cash. 

DM – Just released a preliminary assessment that looks pretty good.  IRR of 16% at 1.55 copper and $4.9 nickel on a project in Minnesota.  Market cap only $35m.  $14m cash.

WOO – Some good VMS results including 53m of 1.88% copper, 4.89% zinc, 0.39g/t gold and 70 g/t silver.  Very little cash. Very deep though – 600m.

XE – low grade uranium results in Nambia.  $19m in cash. 

AXU – $11m budget for 2009 on exploration, studies and community relations.  $10m in cash.

ALS – decent iron ore results in Labrador.  $164m cash, royalties from other projects. 

MAG – Good results – 1,052 g/t silver, 0.63 g/t gold, 3.68% lead and 6.86% zinc over 5.11 metres and 855 g/t  silver, 9.47 g/t gold, 1.22% lead and 2.92% zinc over 5.98 metres in Mexico.  Again, deep at 700m depth.  $60m in cash.

BTO – lots of low grade gold results in Columbia.  $60m cash, $80m market cap.

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