VILLA MARIE QUARTZITE PROJECT

Villa Marie Quartzite Project

The Company has acquired, through staking, the dormant Villa Marie Quartzite open pit mine approximately 30 kilometers east of the deepwater port of Argentia and 75 kilometers west of St. John’s Newfoundland. The quartzite was a source of silica used as a metallurgical flux in an industrial plant that operated in the area 1968-1989. The Company believes the quartzite has potential for use in the cement manufacturing business and as a metallurgical flux. Historically, the property contains 52 drill holes over approximately 2600 meters which formed the basis for an historic resource estimate upon which the original mining was conducted. This drilling data has been digitized and interpreted. The Company has also mapped the property and sampled the various outcroppings of bedded quartzite. Analysis of these samples is consistent with historic results. An average analysis over three quartzite beds is 95.32% silicon dioxide with correspondingly low total alkalis, compared to 94.7 % silicon dioxide from historic government sources. Because of its proximity to a deepwater port, road access and electrical power supply, the company is investigating potential markets for this material.