• Ownership: 100%
• Size: 1,000km²
• Location: North West Liberia
• Resource:1.4M oz (NI 43-101) 13.533Mt M&I at 3.18g/t Au
• Geology: Near vertical sheared ultramafics
• Status: BFS planned for H2 2010

The New Liberty deposit is located on an east-south-east trending, highly sheared and mylonitised schist-belt within which the zone of pyritisation, veining and alteration attains a confirmed strike length of at least two kilometres, over widths of up to 100 meters. An extensive area of intensive alluvial gold mining, known as Gold Camp, has been worked for many years at the eastern end of the deposit. The discovery of primary deposits up-stream subsequently led to the development of two major hard rock artisanal mining camps approximately 400m apart, at Larjor and Kinjor (ŒKing George'). The host structure can be traced on satellite imagery and airborne geophysical maps for several kilometres beyond the current workings

The results overall from the 2,000m 19 hole diamond drilling programme carried out in 1998/99 suggest that the gold mineralisation in the King George and Larjor sectors averages about 8m in true thickness at a grade of 6.4 g/t gold, over a combined strike length of approximately 650m. Furthermore, ongoing mapping and sampling in the vicinity of hole KGD-10 (50m @ 4.4 g/t gold), drilled 500m east of the King George sector in the East Zone, appear to be indicating that the zone of alteration may be widening in that direction. Both the King George and Larjor zones are some 400 metres long and the East Zone has to date been defined over some 225 metres and is open to the east and west. All three zones are open at depth. Geochemistry and artisanal activity suggest a possible fourth zone to the west of Larjor.

Follow-up drilling is under way, aimed at tracing extensions both east and west along strike and at depth.

The mineralisation is concentrated within sheared ultramafic komatiitic talc schists typical of Archaean greenstone belts elsewhere in the world. The shear zones are almost vertical and the sheared ultramafic rocks appear to be continuous throughout the known strike length of the mineralisation. Granite gneiss and amphibolite make up the hanging wall and foot wall respectively. Metallurgical tests of the mineralised sections carried out by Lakefield Research Limited indicate that the gold is free in form.

The outstanding feature of the New Liberty gold prospect is the scale of the artisanal workings - rarely seen in Archaean gold deposits. These workings are on a larger scale than those previously witnessed at what is now known as the 3 million ounce resource of the Resolute ex - Samax Gold "Golden Pride" mine in Tanzania. The dimensions and nature of the host lithology, strength of shearing, intensity of the hydrothermal alteration system and associated gold mineralisation, suggest that this prospect has all the hallmarks of a major gold deposit.

KGD-1	From (m)	To (m)	Intersection (m)	gold (g/t)
KGD-2	40	42	2	1
KGD-2	24	40	16	12.8
KGD-3	48	50	2	1.2
KGD-4	42	62	20	5.8
KGD-5	22	32	10	4.5
KGD-6	50	52	2	4.8
KGD-6	28	34	6	6.3
KGD-7	68	84	16	3.7
KGD-8	30	32	2	3.7
KGD-9	34	44	10	8
KGD-12	42	44	2	5.5
KGD-13	14	26	12	1.9
KGD-14	20	46	26	6.7
KGD-15	26	32	6	14.2
KGD-15	28	34	6	5.7
KGD-16	46	48	2	2.8
KGD-17	56	62	6	4.4
KGD-18A	38	46	8	8.3
T-2	38	44	6	5.4
T-3	9	20	11	2.6
T-6	22	23	1	2.3
T-7	26	45	19	5.2
T-12	0	27	27	5.3
T-12	6	8	2	3.4
T-13	40	42	2	37.8
T-13	16	20	4	3.8
T-14	28	30	2	2.2
T-15	0	14	14	1.6
KGD-20	10	12	2	1.6
KGD-21	56.09	74	17.91	4.9
KGD-23	59.16	69.09	9.93	5.4
KGD-10	102.95	104.39	1.44	1.6
KGD-10	8	14	6	1.8
T-11	32	82	50	5

INTERSECTIONS OF GREATER THAN 1g/t Au FROM TRENCHES AND DRILL HOLES AT NEW LIBERTY

The gold mineral resource estimate for New Liberty was previously disclosed in the technical report entitled "Form 43-101F Technical Report on the New Liberty Gold Project, Liberia" dated October 24, 2006 (the "New Liberty Technical Report") prepared by Dexter Ferreira and Pierre Fourie of Lower Quartile Solutions (Pty) Ltd who are each a "Qualified Person" as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The New Liberty Technical Report was filed on the Company SEDAR profile on January 31, 2007 and is available at www.sedar.com.

Category	Cut Off (g/t Au)	Metric Tonnes	Grade g/t Au	Contained Gold oz
Measured	1.0	6,658,000	3.49	746,409
	2.0	4,592,000	4.40	650,027
Indicated	1.0	6,875,000	2.88	636,570
	2.0	4,370,000	3.73	523,486
Total	1.0	13,533,000	3.18	1,382,979
	2.0	8,962,000	4.07	1,173,513

Notes:

- The 1 g/t Au cut off is the original, prepared Resource Estimate cut-off grade.

- The 2 g/t Au numbers are shown for information only. Tonnes are metric.

- Contained metal estimate which remains subject to mining dilution and process recovery losses.