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Date:	08-20-2008	08-20-2008
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Projects Overview Spring Valley Project Pan Project Midway Project Other Projects

Spring Valley Project

Spring Valley Project
Pershing County, Nevada

The Spring Valley project is a diatreme/porphyry hosted gold system beneath pediment gravels. The Company drilled 102,000 feet in 2007 to expand the West Diatreme and North Hill zones and to test the Deep Porphyry potential. Limited in-fill drilling was completed on the Pond, Porphyry, and Sill zones. These zones form a coherent gold trend 3,500 feet long and 3,500 feet wide that has been tested to a depth of 1,400 feet. The mineralization remains open to the northeast, southwest and at depth. An additional 10,850 feet were drilled on the Limerick, American Canyon, King David, and Golden Gate satellite targets. Drilling is planned to follow-up gold and silver intercepts on three of these targets.

The Company plans to drill 90,000 feet in 100 holes in 2008 for a combined program of in-fill, step-out, and exploration drilling. In-fill drilling will target adding ounces to subsequent resource estimations. Step-out drilling will focus on the West Diatreme target and the North Hill target. Exploration drilling will test eight outlying targets identified by geologic mapping, soil sample surveys, rock chip anomalies, and geophysical anomalies. Exploration targets include the Fitting target where strong arsenic-antimony soil anomalies occur over altered thin-bedded limestone adjacent to a metal-rich range front fault. The Gold Mountain target is an altered rhyolite flow dome with structurally controlled gold zones identified over an area 3800 feet by 2,800 feet. In addition to drilling, initial development work including metallurgical testing, hydrologic assessment, and acid rock characterization is planned.
Midway controls over 17 square miles of mineral rights through a combination of over 650 unpatented mining claims, mineral leases, and private lands. Royalty burdens vary with the gold price from 2.5% to 7%.

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