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 seven exploration projects in the Rice Lake gold belt comprising 158 claims covering

28,177 hectares. The projects are subdivided into the Goldridge, Ultra, Poundmaker, Angelina, 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.

The Goldridge property consists of 18 claims covering approximately 4,420 hectares in the west end of the

Rice Lake gold belt. 15 of these claims were staked in June 2007 which effectively doubled the size of the

Goldridge area.

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

Lake gold belt.

For the year ended December 31, 2008

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: