Well I must say Randy and the crew at ISM didin't ake the summer off after all and wait on the reports afterall. It would seem they have been busy busy since reading the last MD&A

I am truly impressed with what seems to be expansion of properties on many fronts. Even a little work proceeding at Barton. The biggy is that the 43-101 is not yet done as they have been asked to drill a little more by Micon. Afterall these guys are the experts in this field and if they say drill I say so be it. I can wait for extra drilling at the direction of Micon anyday. LN drilling suits me just fine.

Sorry about the ugly formatting of the cut and paste

Performance Summary

The Company has continued to work closely with Micon, the engineering company which is preparing a report regarding the resource and other details on the Langmuir Property. To enable more precision for the resource calculation of the Micron report, the Company was requested to continue to core drilling to expand the mineralized zone further to the north of the previous drilling programs on the Langmuir No. 2 North zone. The drilling of exploration holes have been completed on one target. The cores are currently being logged and assayed. . As part of that report, the metallurgical component study has been completed and will be release with the NI 43-101 Report now in progress.

Additionally, multiple exploration core drillings were completed on the recently acquired Keefe Cook Property lying adjacent to and west of the Langmuir original property. That drilling covers the extension of a previously tested area as it extends to the south across those patented claims. Those cores are likewise in the process of being logged and assayed. The permitting procedures continue for the dewatering and possible bulk sampling of the highgrade and disseminated mineralization contained within the old workings from previous production on the Langmuir No. 1 mine and area.

Exploration activity has increased on the Cleaver and the Douglas Properties lying approximately five miles to the south of the Langmuir Property. Topographic mapping and compilation of that area, as well as logging and sampling of the core holes drilling to date on those properties is currently in progress as well. Based on the preliminary information gathered the Company is proceeding to expand its claim holdings in that area. In that regard it is in the process of bringing under the Company’s control six additional claims encompassing 88 claim units totaling approximately 1,400 additional hectares. When completed, the new claims will include the entire gap between the Cleaver and the Douglas Properties and will include the claims adjacent to the eastern, northern and western borders of the Douglas Properties.

Exploration activity has also increased on the Company’s Desrosiers (Moly) Property lying approximately 95 miles southwest of Timmins, ON. The property acquired under the initial purchase entails six mineral claims encompassing 42 claim units covering approximately 680 hectares (i.e. approximately 1,680 acres). The property lies in a treed and rugged terrain requiring extensive line-cutting work for surface surveys. Geophysical surveys have been initiated, and partially completed, to guide future exploration of that property. Preparation is underway for an eventual bulk sampling program initiated by planning a baseline study program. In that regard, a decision was made to acquire, by staking or otherwise, 17 adjacent claims. Upon completion, the Company’s entire holdings will constitute 23 claims encompassing 261 claim units covering approximately 3,504 hectares (i.e. approximately 10,440 acres).

Work currently underway and planned includes geophysical, geochemical and surface mapping, stripping and sampling. Although molybdenite is the principal target, exploration includes a number of potential minerals including rare earth minerals and is not limited to that single item.

Efforts are also underway for the continued exploration of the Barton Syndicate Trust/Dry Fork (gold) Property in the Salt Lake City, Utah area which lies near to Kennecott’s Bingham Canyon operating copper/moly/gold mine and nearly adjacent to its past producing Melco and Barneys Canyon (gold) mines. Plans have been prepared and submitted to the offices of the U.S. Bureau of Land Management to allow the Company to commence additional geophysical surveying of that property.