• In the first week of mining, approximately 26,500 tons of ore was placed on the crusher stockpile. Pre-stripping operations and haulage ramp construction are underway to develop upper levels of the mine.
  
  
• Construction of the leach pad is nearing completion: the laying of plastic liner has been completed and placement of crushed rock over-liner is expected to be completed by mid-February.
  
  
• Rehabilitation of the crushing facility is nearing completion: crushing operations and placement of crushed ore on the leach pad are expected to commence at the beginning of March.
  
  
• A total of 41 employees are now working at the Briggs mine. This number is expected to increase to over 80 full time employees by year end. In addition, over 30 contractors have been involved in the re-start.
  
  
• The existing mining fleet at Briggs has been increased with the purchase of two DM45E blasthole drills. A new 15 cubic yard loader is being leased from Komatsu. One additional 100 ton haul truck and an 8,000 gallon water truck will be leased or purchased.
  
  
• A new ore reserve and life of mine plan is nearing completion and will be released as a NI 43-101 compliant Technical Report later in the first quarter. The new report will detail a five year mine life targeting a gold production target of 40,000 to 45,000 ounces per year. This new mine plan incorporates new drilling and combines the previous underground and open pit reserves into an open pit only mine plan.
  
  
• The 2009 Briggs budget plan anticipates the production of approximately 19,000 ounces of gold during its initial production ramp-up year. In addition, the plan estimates that by year end, the mine will have built a recoverable inventory of 8,900 ounces of gold in the heap leach pad and 2,100 ounces in the crusher stockpile. By year end, it is anticipated that the mine will be producing gold at a rate equivalent to a 40,000 ounce per year production rate.
  
  
• A total of $6.4 million has been spent at Briggs since initiation of the re-start project and an additional $7.3 million has been committed to complete capital projects including pre-stripping operation, pre-production costs and working capital build-up through April 2009. In addition, $2.0 million worth of mining equipment will be leased or purchased over the next three months.
  
  
• The budget anticipates that mine operations will develop a positive cash flow of $2.6 million for the second half of 2009 utilizing a gold price outlook of $750 per ounce. For each $100 increase in the average realized gold price, Briggs Mine cash flow will increase by approximately $1.9 million for the year.
  
  
• The exploration and development drilling program at Briggs, first announced on October 8th, 2008, continues to evaluate tonnage expansion potential within, adjacent, and beneath the planned pit limits. A total of 17 holes have been completed totaling 13,845 feet (6 holes at BSU-Goldtooth and 11 at Briggs Main deep). Results to date are positive with significant above cut-off grade gold intercepts existing beyond the currently designed pit walls. Detailed results of the first 15 drill holes may be found on the following drill hole summary table.

This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, and within the meaning of Canadian securities legislation, relating to possible improvements to the outcome of an ongoing optimization study, and the Company's plans to restart mining operations at the Briggs Mine based on technical reports compliant with Canadian NI 43-101. Forward-looking statements are statements that are not historical fact. They are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include: the Company might encounter problems such as the significant depreciation of metals prices; accidents and other risks associated with mining exploration and development operations; the risk that the Company will encounter unanticipated geological factors, the Company's need for and ability to obtain additional financing; the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's mine development plans that will prevent it from restarting mining operations at the Briggs Mine; and the other risk factors discussed in greater detail in the Company's various filings on SEDAR (www.sedar.com) with Canadian securities regulators and its filings with the U.S. Securities and Exchange Commission, including the Company's Form 20-F dated March 25, 2008.

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this report, such as "measured," "indicated," "inferred," and "resources," that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC.