In the fall of 2007, the Company acquired by staking, with a 50% partner, the well known Magpie titaniferous deposits located on Quebec’s North Shore. The Magpie deposits outcrop as a series of en echelon ridges in a corridor some 4.5 miles long and 2,000 feet wide. The ridges stand up to 800 feet above the surrounding country, lending themselves to low cost mining methods. In February, 2008, the Company agreed to sell its interest in these claims to a newly formed company, The Magpie Mines Inc. in exchange for 27,460,981 common shares. The Magpie Mines Inc. is a private company with the intention of going public in the near future to finance the development of these deposits.