June 30th Financials posted on SEDAR.

From the SKP MD&A:

Outlook
The Company will continue to prospect and map its project areas in the central part of the Rice Lake Belt as well as the distal ends of the belt to the east and west. The exploration program will rely heavily on the LiDAR datasets to target the program given that the gold bearing veins in the Rice Lake Belt are very difficult to locate using standard magnetic, electromagnetic or resistivity methods. The Company will look to defining drill targets in the Rice Lake Belt during the 2009 summer exploration season predicated on strategic findings from the prospecting and mapping program.
The Company completed a $420,000 unit private placement in February 2009 and a $212,500 flowthrough unit private placement in April 2009 (see Financing Activities).

Portfolio of Exploration Properties and Recent Activities

All of the Company’s active properties are located in Manitoba’s Rice Lake gold belt, the most significant lode-gold district in Manitoba, Canada, with hundreds of documented surface gold occurrences and historic production from several past-producing mines. The Rice Lake Mine (formerly the San Antonio Mine) was re-activated by San Gold Corporation in 2006. The Rice Lake gold belt consists of metavolcanic and metasedimentary rocks of the Rice Lake Group, metasedimentary rocks of the San Antonio Formation and various intrusive rocks. Although located in the geologically prospective Rice Lake gold belt, all of the Company’s properties represent early stage, high risk exploration projects. There is no assurance that the Company’s exploration activities will result in the discovery of an economic mineral deposit.

None of the Company’s properties contain any mining equipment or infrastructure. Access to all of the properties is via a well maintained gravel highway (Highway 304) that runs along the trend of the entire Rice Lake Gold belt.

The Company has eight exploration projects in the Rice Lake gold belt comprising 160 claims covering 28,983 hectares. The projects are subdivided into the Goldridge, Ultra, Poundmaker, Angelina, Contact, Gem, Beresford Lake and Strike Point properties. Exploration activities during the first three quarters of 2008 were carried out on the Goldridge, Ultra, Poundmaker and Strike Point properties. Additionally, six new claims were staked (100% Marum) to cover new surface showings that will be investigated in 2009.

Goldridge
The Goldridge property consists of 18 claims covering approximately 4,420 hectares in the west end of the Rice Lake gold belt.

Ultra
The Ultra property consists of 15 claims covering approximately 3,440 hectares in the west end of the Rice Lake gold belt.

Poundmaker
The Poundmaker property consists of 72 claims covering approximately 12,176 hectares adjacent and to the east of the Company’s Goldridge properties.
In February 2008, the Company signed a five year option agreement (the “Poundmaker Agreement”) to earn up to a 100% interest in a portion of Wildcat Exploration Ltd.’s (“Wildcat”) Poundmaker property. The Poundmaker Agreement was amended on March 1, 2009 and extended for an additional year to March 2014. The Poundmaker Agreement may be terminated by the Company at any time, without penalty. Option consideration is comprised of cash plus common shares of the Company payable as follows:
$25,000 cash paid upon execution of the Poundmaker Agreement and 500,000 common shares of the Company issued on February 25, 2008 upon receipt of approval of the transaction by the TSX Venture Exchange and valued at $95,000 based on the trading price of the Company’s shares on the date of issue;
$50,000 cash paid in June 2008; and On the March 1, 2009 amendment date and each of the next five anniversary dates thereafter (March 1, 2010 through to March 1, 2014), at Wildcat’s option: i) $100,000 cash or ii) $50,000 cash plus up to 2 million common shares of the Company having a market value at the time of issuance of $100,000 (total value of $150,000).
The Company paid the first $100,000 in cash on February 27, 2009.
In addition, the Company has agreed to incur $5 million of exploration expenditures during the term of the amended Poundmaker Agreement as follows:
$500,000 prior to March 1, 2010 of which approximately $219,075 has been incurred at June 30, 2009;
An additional $1,500,000 prior to March 1, 2011; and An additional $1,000,000 in each year prior to March 1, 2012, 2013 and 2014.
Within 60 days of the Company providing notice to Wildcat that the Company has incurred $4 million of exploration expenditures, Wildcat may exercise a Participation Right to retain up to a 35% participating interest or to hold a 2% net smelter return royalty in the Property.
Upon the completion of the $5 million expenditure commitment, the Company may exercise its option (the “Option”) to have purchased a 100% interest in the property, subject to a 2% net smelter return royalty (“NSRR”) held by Wildcat.
If Wildcat does not exercise the Participation Right, within 120 days of the Company exercising its Option, Wildcat may exercise a Buy-Back Option to re-acquire up to 35% of the property for a one-time cash payment equivalent to the number of percentage points to be re-acquired multiplied by $200,000 (maximum 35% for $7 million). If the Buy-Back Option is exercised, Wildcat’s rights under the 2% NSRR are terminated.
The Company may elect to purchase up to one-half of the 2% NSRR by making a cash payment to Wildcat that, as a percentage of $2 million, is equal to the percentage of one-half that the Company elects to purchase.

Angelina
The Angelina property consists of 16 claims covering approximately 2,627 hectares in the eastern end of the Rice Lake gold belt, approximately 27 kilometres east of San Gold Corporation’s producing mines near Bissett, Manitoba. The Angelina property covers a variety of geologic environments that are prospective for gold mineralization. Field investigation of geophysical anomalies is planned for 2009.

Gem
The Gem property consists of 7 claims covering approximately 1,594 hectares in the extreme eastern end of the Rice Lake gold belt. The Gem property is considered to be prospective for gold on the basis of previous surface prospecting work performed by the Company that highlighted a visually identified gold-bearing zone, successful surface prospecting work performed on neighboring claims by another company, and the recommendation of the area by the Manitoba Geological Survey.
In September 2005, the Company entered into an option agreement with Grandview Gold Inc. (“Grandview”), an unrelated company, to jointly explore the Company’s 100% owned Gem property. Grandview can earn a 50% undivided interest in the Gem property by performing $250,000 in exploration work on the property, at a cumulative rate of $125,000 by September 30, 2006 and $250,000 by September 30, 2007 (amended to December 31, 2008 in consideration of payment consisting of regional aeromagnetic data), such work to include a high-resolution aeromagnetic survey. Grandview is the operator of the property until such time as its option to earn the 50% interest is exercised. The Grandview option remains in force, all conditions having been met or extended by mutual agreement of the parties. In May 2008, the terms of the option agreement were extended to December 31, 2008. In January 2009, technical discussions were held with Grandview order to review costs and to plan the future activities of the joint exploration program. Grandview has informally indicated that they will not continue with the joint venture. Grandview and the Company are in the process of terminating the joint venture in an orderly manner.

Beresford Lake
The Beresford Lake property consists of 10 claims covering approximately 2,320 hectares in the eastern end of the Rice Lake gold belt. Three of the Beresford Lake claims were held by an optionor. In January 2009, the Company purchased an undivided 100% interest in the Blue Ace 1, 2 and 3 claims for a cash payment of $50,000 comprising a part of a purchase that also included 20 Strike Point claims (see below) for a total of 23 claims in the Rice Lake belt.

Strike Point
The Strike Point property is an optioned property located adjacent to San Gold Corporation’s producing Rice Lake Gold Mine. This property consists of 20 claims covering approximately 2,223 hectares. In 2006 and 2007, exploration drilling was conducted in the southeast corner of the Strike Point property. The objective of the drilling was to test for the extension of San Gold’s Cartwright gold deposit that lies immediately to the east of the Strike Point property. The drilling program failed to identify the extension of the Cartwright deposit westward into the Strike Point property. A ground prospecting program was carried out in the second and third quarter of 2008 and a number of surface showings were identified for further work in 2009. In January 2009, the Company purchased an undivided 100% interest in the 20 Strike Point claims for a cash payment of $50,000 comprising part of a purchase that also included 3 Beresford claims
(see above) for a total of 23 claims in the Rice Lake belt.

Contact
The Contact property consists of 2 claims covering approximately 283 hectares in the West central part of the Rice Lake gold belt. The property is underlain by granitic and volcanic rock and the region hosts several historical gold showings.