Some excerpts freom the Marum Q3 Mgmnt Analysis:

Manitoba Exploration Performance
During the nine months ended September 30, 2007, all of the Company’s exploration activities occurred in the Rice Lake Gold belt of Manitoba. The Company’s current land position consists of nine properties, consisting of 82 claims covering 13,214 hectares; including the Strike Point option joint venture property located adjacent to San Gold Corporation’s producing Rice Lake Gold Mine. Specifically, exploration activities during the first half concentrated on interpretation of geophysical data acquired in 2006 and reconnaissance prospecting in preparation for a program during the last quarter of 2007 and into 2008 that will enable the Company to fulfill its Manitoba assessment requirements and joint venture obligations. In June 2007, the Company staked an additional 15 claims at the west end of the Rice Lake gold belt, effectively doubling the size of the Goldridge property. In cooperation with its joint venture partners, the Company has approved a second drill program on the Strike Point joint venture property that is adjacent to the Rice Lake mine property.

Outlook
The Company expects to continue to focus exclusively on exploring its properties in Manitoba’s Rice Lake gold belt.  During the fourth quarter of 2007 and first quarter of 2008, the Company intends to complete the processing of geophysical data acquired in 2006 over the Goldridge and Gem Claim groups. An airborne electromagnetic (EM) survey is being considered to be carried out over the Goldridge property in order to locate deep conductor target subject to the availability of a suitable fixed wing frequency domain system. In cooperation with its joint venture partners, the Company has approved a second drill program on the Strike Point joint venture property that is adjacent to the Rice Lake mine property. This program, originally scheduled for the third quarter of 2007, has been rescheduled into the first half of 2008.  Management of the Company expects to have adequate access to new sources of capital to fund the Company’s operational and exploration needs for the next twelve months.