Drilling Intersects 0.11%Mo Over 524 Meters at the Lone Pine Property, B.C.

NI 43-101 Resource:

Measured + Indicated 110,340,000 tonnes Grading 0.083% Molybdenum

Ideal location with established infrastructure

The Property has access to an existing infrastructure including:

• Highway 16;
• Natural gas pipeline;
• Major hydro power transmission line and transformer sub-station;
• Located only 15 kilometers from the CN rail line in Houston, BC.

The Lone Pine Property consists of 7 mineral claims covering 1051 hectares, which are approximately 15 kilometers north-northwest of Houston, BC, and are situated in the Omineca Mining Division. Exploration or mining activities have been conducted on and around the area of the Lone Pine Claims since early in the last century, with a considerable amount of geological, geophysical, and geochemical work having been done on the Property since 1976. The Company is extremely pleased with the initial results on the first phase of drilling as significant molybdenum mineralization was intersected in all holes over such a large area, 1,200m by 1,000m, indicating a large geological system favorable for molybdenum deposition.

The 2009 mapping identified the location of the favorable geological units including new areas of Alaskite and granites hosting visible molybdenum mineralization. The Alaskite Zone is aptly named for the white, fine to medium grained quartz feldspar porphyry intrusive that was recognized and mapped in outcrop. The Alaskite intrusive is the main focus of the Lone Pine Property and in drilling it has been interpreted as being the most favorable lithology for molybdenum mineralization and is the host to the existing resource. All of the historical showings were re-located in the field comprising old pits and trenches where molybdenum mineralization had been located. Several samples were collected from these sites where visible molybdenum was found in scattered float samples which appear close to source comprising coarse grained granite.

Grouse Mountain Update

The Company conducted a geochemical survey on the Grouse Mountain Property in August and September of 2009. A grid was established on the southwest-facing slope of Grouse Mountain, which is down slope of known showings and zones of mineralization. The geochemical grid was oriented perpendicular to the average trend of the mineralized zones, grid lines were established 200m apart and soil samples were collected at 50m intervals. A total of 356 soil samples and 6 rock samples were collected and submitted for analysis. Following the completion of the soil geochemical sampling program, geological mapping was completed over the gridded area to identify favorable settings for hosting structurally controlled copper, zinc, silver mineralization and to extend the property geology underlying the soil geochemical grid.