Highlights of the semi-massive to massive intersects, from the new results include:

· MA-09-13 – 49.39 metres (162.04 feet) 42.93% Fe2O3, 7.54% TiO2, and 0.39% V2O5 ; including 5.00 metres (16.40 feet) 62.74% Fe2O3, 12.85% TiO2, and 0.52% V2O5, and 6.19 metres (20.31 feet) 54.81% Fe2O3, 10.69% TiO2, and 0.51% V2O5

· MA-09-12 – 46.00 metres (150.92 feet) 34.35% Fe2O3, 4.31% TiO2, and 0.25% V2O5 ; including 30.75 metres (100.89 feet) 39.13% Fe2O3, 4.86% TiO2, and 0.26% V2O5, which includes 6.50 metres (21.33 feet) 49.16% Fe2O3, 6.63% TiO2, and 0.40% V2O5

· MA-09-11 – 34.08 metres (111.81 feet) 35.33% Fe2O3, 5.69% TiO2, and 0.38% V2O5 ; including 28.10 metres (92.19 feet) 36.81% Fe2O3, 6.13% TiO2, and 0.41% V2O5

· MA-09-11 – 36.48 metres (119.69 feet) 32.99% Fe2O3, 4.96% TiO2, and 0.33% V2O5 ; including 14.82 metres (48.62 feet) 39.94% Fe2O3, 6.15% TiO2, and 0.41% V2O5, and 7.6 metres (24.93 feet) 41.52% Fe2O3, 6.61% TiO2, and 0.41% V2O5

· MA-09-10 – 59.74 metres (196.00 feet) 40.41% Fe2O3, 6.51% TiO2, and 0.41% V2O5; including 15.89 metres (52.13 feet) 59.33% Fe2O3, 10.68% TiO2, and 0.66% V2O5

· MA-09-10 – 41.00 metres (134.51 feet) 27.67% Fe2O3, 4.13% TiO2, and 0.29% V2O5 ; including 9.50 metres (31.17 feet) 36.45% Fe2O3, 5.61% TiO2, and 0.40% V2O5

· MA-09-09 – 33.67 metres (110.47 feet) 35.55% Fe2O3, 5.48% TiO2, and 0.31% V2O5 ; including 9.13 metres (29.95 feet) 39.32% Fe2O3, 6.91% TiO2, and 0.41% V2O5, and 20.12 metres (66.01 feet) 39.18% Fe2O3, 5.82% TiO2, and 0.31% V2O5

· MA-09-08 – 90.93 metres (298.33 feet) 42.70% Fe2O3, 7.24% TiO2, and 0.38% V2O5; including 32.03 metres (105.09 feet) 40.28% Fe2O3, 6.96% TiO2, and 0.40% V2O5 ; and 52.53 metres (172.34 feet) 47.70% Fe2O3, 8.10% TiO2, and 0.40% and V2O5

· MA-09-07 – 93.66 metres (307.28 feet) 43.87% Fe2O3, 7.90% TiO2, and 0.41% V2O5 ; including 76.61 metres (251.35 feet) 49.72% Fe2O3, 9.13% TiO2,and 0.44% V2O5, which includes 51.66 metres (169.49 feet) 53.25% Fe2O3, 10.26% TiO2, and 0.51% V2O5 and which includes 38.66 metres (126.84 feet) 58.59% Fe2O3, 11.74% TiO2, 0.56% V2O5

· MA-09-07 – 32.47 metres (106.53 feet) 24.50% Fe2O3, 3.74% TiO2, and 0.25% V2O5; including 14.82 metres (48.62 feet) 37.68% Fe2O3, 6.31% TiO2, and 0.41% V2O5

· MA-09-06 – 13.00 metres (42.65 feet) 24.05% Fe2O3, 3.66% TiO2, and 0.24% V2O5

· MA-09-06 – 25.35 metres (83.17 feet) 22.07% Fe2O3, 3.02% TiO2, and 0.21% V2O5

· MA-09-05 – 12.15 metres (39.86 feet) 26.35% Fe2O3, 3.67% TiO2, and 0.25% V2O5 ; including 3.60 metres (11.81 feet) 41.34% Fe2O3, 6.24% TiO2, and 0.45% V2O5

· MA-09-05 – 20.92 metres (68.64 feet) 42.48% Fe2O3, 7.70% TiO2, and 0.44% V2O5 ; including 5.09 metres (16.70 feet) 57.80% Fe2O3, 11.19% TiO2, and 0.63% V2O5 , and 8.28 metres (27.17 feet) 52.26% Fe2O3, 9.83% TiO2, and 0.54% V2O5

· MA-09-05 – 20.10 metres (65.94 feet) 29.13% Fe2O3, 4.38% TiO2, and 0.33% V2O5 ; including 6.30 metres (20.67 feet) 35.83% Fe2O3, 5.82% TiO2, and 0.43% V2O5

· MA-09-04 – 32.84 metres (107.74 feet) 32.53% Fe2O3, 5.01% TiO2, and 0.31% V2O5; including 10.5 metres (34.45 feet) 47.75% Fe2O3, 6.76% TiO2, and 0.44% V2O5 ; and 4.69 metres (15.39 feet) 62.21% Fe2O3, 12.60% TiO2, and 0.74% V2O5

· MA-09-04 – 30.0 metres (98.43 feet) 54.46% Fe2O3, 11.04% TiO2, and 0.59% V2O5; including 26.0 metres (85.30 feet) 59.68% Fe2O3, 12.33% TiO2, and 0.65% V2O5

· MA-09-01 – 35.70 metres (117.3 feet) 26.29% Fe2O3, 3.33% TiO2, and 0.32% V2O5; including 8.07 metres (26.48 feet) 42.87% Fe2O3, 5.57% TiO2, and 0.54% V2O5, and also including 3.28 metres (10.76 feet) 45.50% Fe2O3, 7.58% TiO2, and 0.73% V2O5

Due to the significance of this discovery Apella’s management has decided to post additional charts regarding the results on its website for reference. This data will include some 418 of the individual assays and a full chart of the true width drill intersects, hole by hole. Of the 418 individual assays selected to be displayed on the website there are Fe2o3 assays ranging up to 75.95% Fe2O3, 37% of which grade higher than 50% Fe2O3 and 67% grade above 40% Fe2O3. The TiO2 assays to be included ranged as high as 16.80% TiO2 with 22% of the assays above 10% TiO2 and 85% of the samples grading in excess of 5% TiO2. The V2O5 assays to be displayed range up to 1.34% V2O5, of which 35% assayed 0.50% V2O5 or higher and 87% of these samples assayed at 0.30% V2O5 or above. There will also be a series of photos of the core and the site for viewing.

The 13 hole, 1738.2 metre drill program tested only about 900 metres along strike, at 50 and 100-metre centres, of the 10 km long strike of the mineral enriched Bell River structure that Apella controls at its Iron-T project. The drill holes were drilled NQ sized drill bits at a dip of -45 degrees with an average drill-hole length of 134 metres. The magnetic anomaly that was chosen for this phase of drilling is just over 1000 metres long at surface and extends at depth along strike, east and west. It represents only a small footprint on the overall structure on Apella’s 100% owned Iron-T which contains many similar anomalies. Each of Apella’s 13 drill holes intersected several disseminated to massive iron oxide layers. The mineralized zones are open along strike east and west, as well at depth.

The Bell River Complex which hosts the Iron-t may be compared to the Lac Dore layered igneous complex (in part owned by Apella) in the Chibougamau district of Quebec, some 250 kms east, and to the Bushveld layered complex of South Africa, the world’s most significant source of Vanadium. At the Iron-T the Vanadium rich horizons are well defined on the ground and aeromagnetic surveys by their highly magnetic susceptibilities