SHARPE LAKE project

Gold

Gossan’s Sharpe Lake Properties are located adjacent to Rolling Rock Resources’ Monument Bay Project (formerly held by a Wolfden-Bema Gold Joint-venture) which straddles the Ontario border, approximately 560 km north-east of Winnipeg. Gossan’s Properties are comprised of three exploration permits which cover 16,615 hectares (41,055 acres) along a strike length of 40 km.

Gossan has focused its attention on the Bear Showing at the west end of Sharpe Lake. The pervasive and intense alteration at the Bear Showing is highly significant and reflective of major hydrothermal fluid migration.

The Sharpe Lake Property and its Bear Showing is the subject of a National Instrument 43-101 Report which was filed with SEDAR on October 27, 2006. The Report is a compilation of the exploration programs that have been conducted on the property and recommends a drill program to investigate gold mineralization at the Bear Showing. Gossan intends to seek a joint venture partner to undertake the drill program. Work to date has identified co-incident geophysical and geochemical anomalies. With a minimum strike length of six kilometres and bounded by bifurcations of the Stull Lake-Wunnummin Fault Zone, a major crustal break, the Bear zone is considered a high priority target for economic gold deposits.

Government geological mapping has confirmed that the Stull Lake-Wunnummin Fault Zone (SWFZ) in the Sharpe Lake area is the western strike-extension of the deformation zone that transects the Monument Bay-Twin Lakes area where Rolling Rock Resources has developed a NI 43-101 compliant inferred resource of 6.3 million tonnes grading 5.98 gpt gold for a total of 1.2 million ounces of contained gold. The SWFZ and its related greenstone belt trend east-west under Sharpe Lake and transect Gossan’s Properties over a 40-km strike length.